Company: XAIR
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001493152-25-012867
Chunk: 31

Company: Beyond Air, Inc.
Filing Date: 2025-09-09
Form: 424B3
Chunk 31
---
 |
| By:       |
| Name:     |
| Title:    |

<div align='center'>SCHEDULE 1

FORM OF EXERCISE NOTICE

[To be executed by the Holder to purchase shares of Common Stock under the Warrant]

Beyond Air, Inc.</div>

Ladies and Gentlemen:

(1) The undersigned is the Holder of Warrant No. [●] (the “ Warrant”) issued by Beyond Air, Inc., a Delaware corporation (the “ Company”). Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant.

(2) The undersigned hereby exercises its right to purchase [●] Warrant Shares pursuant to the Warrant.

(3) The Holder intends that payment of the Exercise Price shall be made as (check one):

☐ Cash Exercise

☐ “Cashless Exercise” under Section 10 of the Warrant

(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $[●] in immediately available funds to the Company in accordance with the terms of the Warrant.

(5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant.

(6) By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that (i) it will not purchase or sell any securities, including the Warrant Shares, in violation of applicable securities laws and (ii) in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under Section 11(a) of the Warrant to which this notice relates.

Dated: ___________________

Name of Holder: _____________________________

| By:    |
| Name:  |
| Title: |

<div align='center'>(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)</div>

<div align='center'>ACKNOWLEDGMENT</div>

The Company hereby acknowledges this Exercise Notice and hereby directs the Company’s transfer agent to issue the above indicated number of shares of Common Stock on or prior to the applicable Share Delivery Date.

| Beyond    
 Air, Inc. |
| By:       |
| Name:     |
| Title:    |

<div align='center'>SCHEDULE 2