Company: OSRH
Filing Date: 2025-08-19
Form Type: PRE 14A
Source: 0001213900-25-078140
Chunk: 40

Company: OSR Holdings, Inc.
Filing Date: 2025-08-19
Form: PRE 14A
Chunk 40
---
the affirmative vote of the majority of the votes cast by stockholders represented in person or by proxy at the Annual Meeting is required.
The Board recommends that you vote “FOR” the Nasdaq 20% Issuance Proposal.

<div align='center'>21

SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN BENEFICIAL OWNERS</div>

The following table sets forth information regarding
the beneficial ownership of our common stock as of September [●], 2025, based on information obtained from the persons named below,
with respect to the beneficial ownership of shares, by:

| ● | each                                                                                                     
 person known by us to be the beneficial owner of more than 5% of our outstanding shares of common stock; |

| ● | each                                                                                           
 of our executive officers and directors that beneficially owns shares of our common stock; and |

| ● | all                                              
 our executive officers and directors as a group. |

Beneficial ownership is determined according to the rules of the SEC,
which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment
power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Except as described
in the footnotes below and subject to applicable community property laws and similar laws, we believe that each person listed below has
sole voting and investment power with respect to such shares.

The beneficial ownership of the Company’s Common Stock is based
on 19,276,978 shares of the Company’s Common Stock issued and outstanding as of May 20, 2025.

| Name and Address of Beneficial Owner(1)                               |     | Number of    
 Shares       
 Beneficially 
 Owned        |            |     | % of Ownership |      |   |
| Officer and Directors After the Transactions                          |     |              |            |     |                |      |   |
| Kuk Hyoun Hwang(2)                                                    |     |              | 13,069,104 |     |                | 67.8 | % |
| Jun Chul Whang(3)                                                     |     |              |          — |     |                |    * |   |
| Gihyoun Bang                                                          |     |              |          — |     |                |    * |   |
| Sang Hoon Kim                                                         |     |              |          — |     |                |    * |   |
| Alcide Barberis                                                       |     |              |          —