Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 163

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 163
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 any meeting of the JV Board, the chairman of that meeting shall be any director appointed by Otsaw. In the event of an equality of votes, the chairman shall have a casting vote. Swisslog Healthcare and Otsaw Technology shall each be entitled to appoint up to the number of directors as set out below:

| Shareholder         |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
 representing 60% and 40% 
         of the shares of 
        Otsaw-Swisslog JV |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
 representing 86.665% and 
 13.335% of the shares of 
        Otsaw-Swisslog JV |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
  representing 93.33% and 
   6.67% of the shares of 
        Otsaw-Swisslog JV |
| Otsaw Technology    |     |                        2 |     |                        2 |     |                        3 |
| Swisslog Healthcare |     |                        1 |     |                        1 |     |                        1 |

Royalty For as long as Swisslog Healthcare is a shareholder, the Otsaw -SwisslogJV will have the right to use the Swisslog Healthcare brand name royalty free. As per the call and put options on Swisslog’s 40% interest as agreed between Otsaw and Swisslog Healthcare, Swisslog Healthcare is expected to cease being a shareholder of Otsaw -SwisslogJV by December 31, 2024. Put and Call Options Under the Shareholders Agreement, Otsaw grants Swisslog Healthcare the put option and Swisslog grants Otsaw the call option to acquire Swisslog Healthcare’s 40% interest in the Otsaw -SwisslogJV, in three tranches comprising of 1,333shares per tranche exercisable on the 1 st, 2 ndand 3 rdanniversary from November 30, 2022, at a strike price of SGD 800,000 per tranche. The put option gives Swisslog Healthcare the right to require Otsaw to purchase Swisslog Healthcare’s 40% interest in the Otsaw -SwisslogJV in