Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 302

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 302
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 |     |              |  53,600,000 |   |
| Change in fair value              |     |              | (38,040,000 | ) |
| Balance as of December 31, 2024   |     | $            |  15,560,000 |   |

The key inputs for the Earn-out Share Liability were as follows at September 13, 2024 initial value, and at December 31, 2024:

|                       |     |   | December 31, 
         2024 |   |     |   | September 13, 
          2024 |   |
|:----------------------|:----|:--|-------------:|:--|:----|:--|--------------:|:--|
| Stock Price           |     | $ |         6.50 |   |     | $ |         12.00 |   |
| Expected term (years) |     |   |           10 |   |     |   |            10 |   |
| Volatility            |     |   |         75.0 | % |     |   |          70.0 | % |
| Risk-Free Rate        |     |   |         3.81 | % |     |   |          3.66 | % |

15 - EARNINGS PER SHARE

As described in Note 4 - Reverse Recapitalization, the Company accounted for the Business Combination as a reverse recapitalization. Earnings per share calculations for all periods prior to the Closing have been retrospectively adjusted by the Exchange Ratio for the equivalent number of shares of Common Stock outstanding immediately after the Closing to effect the reverse recapitalization. Subsequent to the Closing, earnings per share is calculated based on the weighted average number of shares of Common Stock outstanding.

<div align='center'>F-60

Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023</div>

16 – INCOME TAXES

Net loss for the years ended December 31, 2024 and 2023, was as follows:

|          |     | December 31, 
 2024         |             |   |     | 2023 |             |   |
|:---------|:----|:-------------|:------------|:--|:----|:-----|:------------|:--|
| Domestic |     |