Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 650

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 650
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itas, Ltd. or its affiliates due to resignation or termination for cause following the one -yearanniversary following the Closing, the deferred share rights will be forfeited. However, in the event of a termination without cause, the deferred share rights will vest immediately.

F-107

Notes to Unaudited Interim Condensed Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 13. Shared-based incentives (cont.) Accrual of Deferred Shares The total accrued expense of the deferred shares granted is US$174,920 during the six -monthperiod ended December 2024 (US$28,288 corresponds to the new deferred shares of the three key employees mentioned above). The fair value at the grant date was independently determined using an adjusted version of the Black -Scholesmodel, incorporating a Monte Carlo simulation model. Key Assumptions for Fair Value Calculation The primary inputs used in determining the fair value of the deferred shares are categorized as level 3 inputs and are based on the following: •Fair Value per Share of Heritas Ltd.: Derived from a discounted cash flow (DCF) analysis. The Group estimates revenue growth, operating cost ratios, and changes in working capital. To account for the risks associated with an early -stagecompany, a start -uprisk premium has been added to the Company’s weighted average cost of capital (WACC). •Liquidity Event Date: Estimated based on projections of when a liquidity event, such as an initial public offering (IPO), is expected to occur. •Share Volatility: Estimated using market data from comparable companies within the same industry or of similar size. Accounting Treatment of Fair Value Since these are grants from the parent company, the counterparty is treated as a capital contribution under IFRS 2. See the statement of changes in equity. 14. Trade and other payable

|                                |     |        As of 
 December 31, 
         2024 |     |     As of 
  June 30, 
      2024 |
|:-------------------------------|:----|-------------:|:----|----------:|
| Trade payables(*)              |     |    1,628,526 |     | 1,502,292 |
| Tax payables                   |     |       10,661 |     |    59,560 |
| Total trade and other payables |     |    1,639,187 |     | 1,561,852 |

The fair value of payables approx