Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019356
Chunk: 199

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 199
---
.

#### Derivative Liabilities
Embedded derivative liabilities contained within the 2025 Notes (as defined and further described in Note 5. Borrowings) are stated at fair value. Fair value is determined utilizing discounted cash flows, using unobservable market data inputs, and an option pricing model based on a probability-weighted expected outcome with respect to a financing or a change of control. The derivatives associated with the 2025 Notes were settled in March 2024 due to

<div align='center'>F-22</div>

#### Innventure, Inc. and Subsidiaries

### Notes to Consolidated Financial Statements
<div align='center'>(in thousands, except share or per share data)</div>

conversion of the 2025 Notes in a qualified financing. A summary of the significant unobservable inputs utilized to estimate the fair value is as follows:

| Embedded derivative within 2025 Note issued August 18, 2022 with a principal balance of $4,000                   |     | Settlement |     |   |     | December 31, 2023 |    |   |
| Discount Rate                                                                                                    |     |            |  35 | % |     | 35% - 36%         |    |   |
| Probability of Expected Outcomes                                                                                 |     |            |     |   |     |                   |    |   |
| Financing                                                                                                        |     |            | 100 | % |     |                   | 95 | % |
| Change in control                                                                                                |     |            |   — | % |     |                   |  3 | % |
| Other                                                                                                            |     |            |   — | % |     |                   |  2 | % |
| Embedded derivative within 2025 Notes issued June 7 & July 3, 2023 with an aggregate principal balance of $2,000 |     |            |     |   |     |                   |    |   |
| Discount Rate                                                                                                    |     | 71% - 87%  |     |   |     | 71% - 88%         |    |   |
| Probability of Expected Outcomes                                                                                 |     |            |     |   |     |                   |    |   |
| Financing                                                                                                        |     |            | 100 | % |     |                   | 95 | % |
| Change in control                                                                                                |     |            |   — | % |     |                   |  3 | % |
| Other                                                                                                            |