Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 110

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 110
---
 Common Warrants and Placement Agent Series A Warrants issued in connection with the
December Offering to purchase up to an aggregate of [ ] shares of Common Stock at
an exercise price of $16.12 per share, December Series B Warrants and December Placement Agent Series B Warrants for a maximum of for
a maximum of [ ] shares of Common Stock at an exercise price of $0.0001 per share; January/February
Series A Warrants, January/February Placement Agent Common Warrants and January/February Placement Agent Series A Warrants issued in connection
with the January/February Offering to purchase up to an aggregate of [ ] shares of Common Stock
at an exercise price of $16.12 per share; and January/February Series B Warrants and December Placement Agent Series B Warrants for a
maximum of [ ] shares of Common Stock at an exercise price of $0.0001 per share

Additionally, If the December
Series A Warrants are reset or ratcheted down to their respective Floor Prices, then there would be (in each case subject to rounding)
(i) December Series A Warrants to purchase [ ] shares of Common Stock at an exercise price of
$6.24 per share, (ii) December Placement Agent Common Warrants to purchase [ ] shares
at an exercise price of $6.24 per share and (iii) December Placement Agent Series A Warrants to purchase [ ]
shares at an exercise price of $6.24 per share.

Further, If the January/February
Series A Warrants are reset or ratcheted down to their respective Floor Prices, then there would be (in each case subject to rounding)
(i) January/February Series A Warrants to purchase [ ] shares of Common Stock at an exercise
price of $6.24 per share, (ii) January/February Placement Agent Common Warrants to purchase [ ] shares
at an exercise price of $6.24 per share and (iii) January/February Placement Agent Series A warrants to purchase [ ]
shares at an exercise price of $6.24 per share.

<div align='center'>56</div>

Because the market for our
Common Stock is thinly traded, the sales and/or the perception that those sales may occur, could adversely affect the market price of
our Common Stock. Furthermore, even though the warrants (other than the Pre-Funded Warrants, the November Series B Warrants, the December
Series B Warrants, the January/February Series B W