Company: OTSA
Filing Date: 2025-03-26
Form Type: DRS/A
Source: 0001013762-25-002776
Chunk: 168

Company: OTSAW Ltd
Filing Date: 2025-03-26
Form: DRS/A
Chunk 168
---
2 |     |                        2 |     |                        3 |
| Swisslog Healthcare |     |                        1 |     |                        1 |     |                        1 |

Royalty For as long as Swisslog Healthcare is a shareholder, the Otsaw -SwisslogJV will have the right to use the Swisslog Healthcare brand name royalty free. As at January20, 2025, following the exercise of options relating to the Swisslog asset acquisition, Otsaw Swisslog Healthcare Robotics Pte. Ltd. is 100% owned by Otsaw Technology Solutions Pte. Ltd. The Otsaw -SwisslogJV no longer uses the Swisslog Healthcare brand name, and there are therefore no royalties payable. Put and Call Options Under the Shareholders Agreement, Otsaw grants Swisslog Healthcare the put option and Swisslog grants Otsaw the call option to acquire Swisslog Healthcare’s 40% interest in the Otsaw -SwisslogJV, in three tranches comprising 1,333shares per tranche exercisable on the 1 st, 2 ndand 3 rdanniversary from November 30, 2022 (or at any time before the respective date of each tranche), at a strike price of SGD 800,000 per tranche. The final consideration to be paid for each tranche is subject to a consideration adjustment calculated based on a shortfall in the anticipated and actual revenue of the Otsaw -SwisslogJV. The put option gives Swisslog Healthcare the right to require Otsaw to purchase Swisslog Healthcare’s 40% interest in the Otsaw -SwisslogJV pursuant to the put and call arrangement. The call option gives Otsaw the right to purchase Swisslog Healthcare’s interest in the Otsaw -SwisslogJV pursuant to the put and call arrangement. The first call option was exercised by Otsaw on January 12, 2023 for the purchase of 1,333shares. Although the first option was to be exercised at a strike price of SGD 800,000, the final consideration paid was SGD 130,000 (USD 97,002) due to revenue targets not being met following the consideration adjustment clause. The second call option was exercised by Otsaw on January 11, 2024 for the purchase of 1,333shares. Although the second option was to be exercised at a strike price of SGD 800,000, the final consideration paid was SGD