Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 27

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 27
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, unless otherwise indicated.                                                                                                                    |
| (2) | Applicable percentage of ownership is based on                                                                                                                                                                                                    
 11,542,302 shares of common stock outstanding as of February 25, 2025.                                                                                                                                                                            
 Beneficial ownership is determined in accordance with                                                                                                                                                                                             
 the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common stock that are currently                                                                                                      
 exercisable within 60 days of February 25, 2025, are deemed to be beneficially owned by the person holding such securities for the purpose                                                                                                        
 of computing the percentage of ownership of such person but are not treated as outstanding for the purpose of computing the percentage                                                                                                            
 ownership of any person.                                                                                                                                                                                                                          |
| (3) | Mark Thoenes serves as a member of our board. Does not include approximately 14,524 shares of our common stock issuable upon the exercise of vested options, which will be canceled prior to the closing of the Business Combination.             |
| (4) | Eric Morris serves as our Interim Chief Financial Officer. Does not include approximately 2,381 shares of our common stock issuable upon the exercise of vested options, which will be canceled prior to the closing of the Business Combination. |
| (5) | David Worner serves as a member of our board. Does not include approximately 10,952 shares of our common stock issuable upon the exercise of vested options, which will be canceled prior to the closing of the Business Combination.             |
| (6) | Does not include 3,000 shares underlying vested options, which will be canceled prior to the closing of the Business Combination.                                                                                                                 |
| (7) | Does not include 3,000 shares underlying vested options, which will be canceled prior to the closing of the Business Combination.                                                                                                                 |
| (8) | KDMM Trust I is the sole voting member of Kaival Holdings, LLC and Ankitaben Patel, as trustee of KDMM Trust I, has voting control over the Kaival shares owned by Kaival Holdings LLC                                                            |
| (9) | Address is 401 N. Wickham Road, Suite 130 Melbourne, FL 32935                                                                                                                                                                                     |

<div align='center'>16

EXECUTIVE COMPENSATION</div>

Summary Compensation Table

The table below summarizes all
compensation awarded to, earned by, or paid to our named executive officers, which is defined herein as (i) all individuals serving or
having served as our