Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 188

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 188
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,360,000 |     |             |      - |     |            | - |
| Total                       |     |                       | 3,482,114 |     |           | 3,457,541 |     |             | 24,573 |     |            | - |

Operating lease commitments

We have an operating lease
for laboratory as of December 31, 2024. Operating lease commitments reflect our obligation to make payments under these operating leases.

Debt obligations

Debt obligations reflect
outstanding principal and accrued interest payable to Jurchen Investment Corporation, the largest shareholder of the Company, pursuant
to a convertible note arrangement. This instrument features a conversion option at a price of $2.42 per share into the Company’s
Class A Ordinary Shares. It carries a two-year maturity from the date of issuance and bears an annual interest rate of 6%.

The Group can access up to
a total $12 million under a line of credit offered by Aeneas Group Limited. The line of credit was originally mature on August 12, 2022.
The Group and Aeneas Group Limited has mutually agreed to extend the line of credit arrangement further 3 years to August 12, 2025. The
interest on the outstanding principal indebtedness is at the rate of 8% per annum. The Group may early repay, in whole or in part, the
principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender
and without payment of any premium or penalty.

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CONTINGENT PAYMENT OBLIGATIONS

As of December 31, 2024, the
Group does not have any non-cancellable purchase commitments.

The Group has contingency
payment obligations under each of the license agreements, such as milestone payments, royalties, research and development funding, if
certain condition or milestone is met.

Milestone payments are due
upon achievements of specific conditions, such as Investigational New Drugs (“IND”) filing or U.S. Food and Drug Administration
(“FDA”) approval, first commercial sale of the licensed products, or other achievements. The aggregate amounts of the contingent
milestone payments that the Group is required to pay up to different achievements of conditions and milestones under all license agreements
in effect as of December 31, 2024, are below:

| Drug molecules: up to the conditions and milestones of         |     | Amount |            |
|: