Company: EUDAW
Filing Date: 2025-09-24
Form Type: 20-F/A
Source: 0001493152-25-014808
Chunk: 67

Company: EUDA Health Holdings Ltd
Filing Date: 2025-09-24
Form: 20-F/A
Chunk 67
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 |                          |         - |     | $                |     - |     |                   |    - |
| December 31, 2023 |     |             | 8,917,250 |     |                          | 4,458,625 |     | $                | 11.50 |     |                   | 3.88 |
| Granted           |     |             |         - |     |                          |         - |     | $                |     - |     |                   |    - |
| Forfeited         |     |             |         - |     |                          |         - |     | $                |     - |     |                   |    - |
| Exercised         |     |             |         - |     |                          |         - |     | $                |     - |     |                   |    - |
| December 31, 2024 |     |             | 8,917,250 |     |                          | 4,458,625 |     | $                | 11.50 |     |                   | 2.88 |

| F-41 |

EUDA HEALTH HOLDINGS LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, unless stated otherwise)

Earnout shares

As part of the Business Combination, Watermark is entitled to the 4,000,000Earnout Shares of the Company’s no par value ordinary shares subject to the following four triggering events:

| ● | 1,000,000                                                                                                                              
 additional Earnout Shares to be issued if during the period beginning on the Closing Date and ending on the first anniversary of       
 the Closing Date, the Company’s share price is equal to or greater than Fifteen Dollars ($15.00) after the Closing Date (“Triggering   
 Event 1”);                                                                                                                             |
| ● | 1,000,000                                                                                                                              
 additional Earnout Shares to be issued if during the period beginning on the first anniversary of the Closing Date and ending on       
 the second anniversary of the Closing Date, the Company’s share price is equal to or greater than Twenty Dollars ($20.00) (“Triggering 
 Event 2”);                                                                                                                             |
| ● | 1,000,000                                                                                                                              
 additional Earnout Shares to be issued if the consolidated audited financial statements of EUDA for the fiscal year commencing January 
 1, 2023 and ending December 31, 2023, reflect that E