Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 129

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 129
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 70,246 |   |     |             |  72,795 |   |
| Accumulated deficit                                                    |     |                         | (60,613 | ) |     |           | (60,613 | ) |     |             | (60,613 | ) |
| Other equity                                                           |     |                         |   2,556 |   |     |           |   2,556 |   |     |             |   2,556 |   |
| Non-controlling interest                                               |     |                         |       3 |   |     |           |       3 |   |     |             |       3 |   |
| Total shareholders’ equity                                             |     |                         |  (4,295 | ) |     |           |  12,274 |   |     |             |  14,824 |   |
| Total capitalization                                                   |     |                         |  (1,185 | ) |     |           |  17,629 |   |     |             |  15,958 |   |

84

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the section entitled “Summary of Consolidated Financial Data and Operating Data”, our historical consolidated financial statements and the related notes included elsewhere in this prospectus. This discussion contains forward-looking statements and involves numerous risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section of this prospectus. Actual results could differ materially from those contained in any forward-looking statements.

Overview

We have almost a decade of experience applying blockchain technology to improve operational efficiency for businesses. We first launched
OwlTing Market, an e-commerce platform designed to elevate local businesses and farmers by improving product quality and enhancing global market exposure. Expanding its footprint into the hospitality
sector, we introduced OwlNest in 2018, the innovative PMS, which connects more than 2,500 hospitality providers as of December 31, 2024. In that same year, we launched the OTA platforms OwlJourney and OwlTing Experiences, to
provide various types of properties and tours for travelers. Additionally, we launched the platform offline services to offer accommodations under our own brand, OwlStay. The integration of systems, platforms, and accommodation services
facilitates unique travel experiences for travelers.

Through close interaction with businesses in