Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 882

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 882
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 or for any other purpose. Our Opinion does not constitute a recommendation to the Board or the shareholders of Company, the shareholders of Profusa or any other person or entity as to any action the Board, the shareholders of Company, the shareholders of Profusa or any other person or entity should take in connection with the Transaction or any aspect thereof. Our opinion does not address the merits of the Transaction or the underlying decision by the Board or the Board to engage in the Transaction or the relative merits of any alternatives that may be available to the Company. This Opinion addresses only the Purchase Price and does not address any other aspect of the Transaction. By way of example, our Opinion does not represent any advice as to the fairness of any matters of management compensation or of any fees paid or expenses incurred, any future funding or fund raising commitments, or any changes in the rights, privileges and preferences of the holders of the Company’s shares and certain changes in the composition of the Company’s management and board of directors. Furthermore, our Opinion is not to be construed or deemed to be a solvency opinion or provide any advice as to legal, accounting or tax matters. This Opinion may not be reproduced, disseminated, quoted, or referred to at any time without our prior written consent. Therefore, subject to the foregoing, it is our opinion that, as of the date hereof, the Purchase Price to be paid by the Company to Profusa in the Transaction in the form of the issuance of the common shares of the Surviving Company to the equity holders of Profusa as provided in the Merger Agreement is fair to the Company from a financial point of view. Very truly yours, /s/ Marshall & Stevens Marshall & Stevens Transaction Advisory Services, LLC File No. 34-36-63511 Annex F-3

PART II INFORMATION NOT REQUIRED IN PROSPECTUS Item 20. Indemnification of Directors and Officers NorthView has entered into agreements with NorthView’s officers and directors to provide contractual indemnification in addition to the indemnification provided for in NorthView’s Existing Charter. NorthView has purchased a policy of directors’ and officers’ liability insurance that insures NorthView’s officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures NorthView against NorthView’s obligations to indemnify NorthView’s officers and directors. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling NorthView pursuant to the foregoing provisions, NorthView has been informed that