Company: OTSA
Filing Date: 2025-03-26
Form Type: DRS/A
Source: 0001013762-25-002776
Chunk: 166

Company: OTSAW Ltd
Filing Date: 2025-03-26
Form: DRS/A
Chunk 166
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tsaw -SwisslogJV, including terms in relation to the put and call options. The Umbrella Agreement also provides for the purchase of the remaining stock and inventory as provided for under the Master Asset Sale Agreement. Asset Transfer and Acquisition Under the Master Asset Sale Agreement, Otsaw -SwisslogJV has acquired: 1) the existing customer services and maintenance contracts of the TransCar systems installed in Singapore, Germany, Italy, Netherlands, Norway and Switzerland; and 2) advance payments, claims, books and records in relation to the TransCar systems in Singapore, Germany, Italy, Netherlands, Norway and Switzerland. As consideration, Swisslog Healthcare received S$1.5 million in cash, 36,613 ordinary shares in Otsaw Technology Solutions Pte Ltd. and a 40% ownership in the Otsaw -SwisslogJV. Upon completion of the group reorganization on May 25, 2023, Swisslog Healthcare became a minority shareholder in Otsaw Limited. IP and Technology Transfer Under the Master Asset Sale Agreement, the Otsaw -SwisslogJV and Otsaw were given the right to acquire and have acquired the intellectual property rights relating to the TransCar systems and the process know -howrelating to their manufacturing and maintenance. This includes: (i) knowledge transfer of the codebase/code documentation, (ii) operation training, and (iii) documents relating to the manufacture, operation, and enhancement of the TransCar system. Furthermore, Swisslog Healthcare is obligated to assist in the transfer of know -howin relation to the design, function and maintenance of the TransCar system to the Otsaw -SwisslogJV and Otsaw. Manufacturing and Supply of the TransCar System Under the Supply Agreement, Reis Robotics will produce and manufacture the TransCar AGVs for the Otsaw -SwisslogJV. Reis Robotics will discontinue manufacturing of the TransCar AGVs on June 30, 2025 and the next generation of TransCar, TransCar 5.0, will be produced in -houseat our manufacturing facility in Singapore. 103

Service and Maintenance Mandated by the Shareholders Agreement, and pursuant to the Master Asset Sale Agreement, the Otsaw -SwisslogJV entered into service agreements on December 1, 2021 with (i) Swisslog Healthcare GmbH; and (ii) Swisslog Healthcare Asia Pacific Pte. Ltd. respectively, for a term of 1 year with the option