Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 12

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 12
---
, and any future debt financing may contain, covenants that impact the operation of our business and 
 pursuit of business opportunities.                                                                                                                                                                                                                       |

| • |     | A significant amount of our business and revenues is derived from a relatively small number of customers, and the                                                    
 loss of these customers, including a reduction in their transaction volume, could have an adverse effect on our business, operating results and financial condition. |

| • |     | The requirements of being a public company may strain our resources and distract our management, which could make 
 it difficult to manage our business.                                                                              |

| • |     | Our financial results may fluctuate significantly and periodically, which may make our period-to-period results 
 volatile and our future performance difficult to predict.                                                       |

| • |     | Fluctuations in exchange rates could result in foreign currency exchange losses in our business. |

| • |     | The nature of our business requires the application of complex financial accounting rules, and there is limited 
 guidance from accounting standard setting bodies on certain topics, including on digital assets.                |

Risks Related to Digital Assets and Stablecoin

| • |     | The future development and growth of digital assets are subject to a variety of factors that are difficult to                                                                                                                 
 predict and evaluate. If the adoption and market acceptance of digital assets, in particular the stablecoin, does not grow as we expect, our business, operating results and financial condition could be adversely affected. |

| • |     | Due to unfamiliarity and some negative publicity associated with the blockchain economy, existing and potential                                        
 customers may have less confidence in or be less receptive to our payment services utilizing stablecoin or wallet products for holding digital assets. |

| • |     | From time to time, we may encounter technical issues in connection with the integration of digital assets and 
 changes and upgrades to their underlying networks, which could adversely affect our business.                 |

8

| • |     | We hold stablecoins and other digital assets for our business operations and are subject to the risks associated                                                                                                                                  
 with such digital assets. While we currently hold a de minimis amount of stablecoins and other digital assets, we expect that the amount of stablecoins and other digital assets we hold will increase with the growth of our payment business in 
 relation to the utilization of our stablecoin solutions.                                                                                                                                                                                          |

| • |     | Depositing and withdrawing digital assets into and from our products involve risks, which could result in loss of 
 customer assets, customer disputes and other liabilities, which