Company: KAVL
Filing Date: 2025-08-04
Form Type: S-3/A
Source: 0001731122-25-001067
Chunk: 51

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-08-04
Form: S-3/A
Chunk 51
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 of the affected holders in any material respect. |

We do not need any approval to make changes that affect
only units to be issued after the changes take effect. We may also make changes that do not adversely affect a particular unit in any
material respect, even if they adversely affect other units in a material respect. In those cases, we do not need to obtain the approval
of the holder of the unaffected unit; we need only obtain any required approvals from the holders of the affected units.

Modification with Consent of Holders.
Unless otherwise provided in the applicable prospectus supplement, the following provisions will apply to any units we issue pursuant
to this prospectus. We may not amend any particular unit or a unit agreement with respect to any particular unit unless we obtain the
consent of the holder of that unit, if the amendment would:

| ● | impair any right of the holder to exercise or enforce any right under a security included in the unit if the terms of that security require the consent of the holder to any changes that would impair the exercise or enforcement of that right; or |

| ● | reduce the percentage of outstanding units or any series or class the consent of whose holders is required to amend that series or class, or the applicable unit agreement with respect to that series or class, as described below. |

Any other change to a particular unit agreement and
the units issued under that agreement would require the following approval:

| ● | if the change affects only the units of a particular series issued under that agreement, the change must be approved by the holders of a majority of the outstanding units of that series; or |

| ● | if the change affects the units of more than one series issued under that agreement, it must be approved by the holders of a majority of all outstanding units of all series affected by the change, with the units of all the affected series voting together as one class for this purpose. |

These provisions regarding changes with majority approval
also apply to changes affecting any securities issued under a unit agreement, as the governing document.

In each case, the required approval must be given
by written consent.

Unit Agreements Will Not Be Qualified Under Trust Indenture Act. No unit agreement will be qualified as an indenture, and no unit agent will be required to qualify as a trustee,
under the Trust Indenture Act. Therefore, holders of units issued under unit agreements will not have the protections of the Trust Indenture
Act with respect to their units.

Mergers and Similar Transactions Permitted; No