Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 372

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 372
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 prepaid cost under other current assets. Please refer to Note 4(i) for an explanation of the relevant accounting policies.

| 3 | Recognition of leases as a lessee under IFRS 16 |

As a lessee, the Company previously classified leases as operating leases and recognized lease payments in profit or loss on a straight-line basis over the lease term. Under IFRS 16, the Company recognizes right-of-useassets and lease liabilities on the statement of financial position for all leases with exception for leases of low-valueassets and short-term leases. In addition, the Company used the following practical expedients when applying IFRS 16 to leases.

| • |     | Applied a single discount rate to a portfolio of leases with similar characteristics. |

| • |     | Applied the exemption not to recognize                                                 
 right-of-use assets and liabilities for leases with less than 12 months of lease term. |

| • |     | Excluded initial direct costs from measuring the       
 right-of-use asset at the date of initial application. |

| • |     | Used hindsight when determining the lease term if the contract contains options to extend or terminate the lease. |

For an explanation of how the Company recognizes and measures leases as a lessee under IFRS 16, please refer to Note 4(f). F-104

Independent Auditor’s Report

To the Board of Directors of Obook Holdings Inc.:

Report on the Audit of the Financial Statements

Qualified Opinion

We have audited the financial statements of PayNow Inc. (the Company), which comprise the statement of financial position as of April 30, 2023, and the
related statement of profit or loss and other comprehensive income, changes in equity, and cash flows for the four months then ended, and the related notes to the financial statements.

In our opinion, except for the omission of comparative financial information described in the Basis for Qualified Opinion section of our report, the
accompanying financial statements present fairly, in all material respects, the financial position of the Company as of April 30, 2023, and the results of its operations and its cash flows for the four months then ended in accordance with
International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

Basis for Qualified Opinion

As discussed in note 2, the accompanying financial statements are not presented in accordance IFRS, as they do not include comparative figures,
which constitute a departure from IFRS as issued by the IAS