Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 245

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 245
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 consisting
of $24.5 million of Convertible Promissory Notes issued to investors domiciled outside India and $3.9 million of OCDs issued to investors
domiciled in India, including Mahindra. The notes were convertible into equity securities of Zoomcar, and the OCDs were convertible into
equity securities of Zoomcar India, which, in turn, would be exchangeable for equity securities of Zoomcar subject to the approval of
the RBI. The Convertible Promissory Notes and the OCDs bore interest at the rate of 18% per annum. In December 2020, the outstanding principal
and accrued interest under the Convertible Promissory Notes and the OCDs were converted to 16,732,152 Series D Shares and 149,986 Series
P2 Shares, respectively, in connection with the financing described above under “-Series D Financing.” The following
table summarizes purchases of these securities by related persons:

| Purchaser                            |     | Purchase 
 Date     |     | Purchase 
 Amount   |           |
|:-------------------------------------|:----|:---------|:----|:---------|----------:|
| Ford Next LLC                        |     | 6/26/19  |     | $        | 1,680,022 |
| Ford Next LLC                        |     | 8/29/19  |     | $        | 1,000,000 |
| Sequoia Capital India Investments IV |     | 8/30/19  |     | $        | 1,000,000 |
| Entities affiliated with OurCrowd    |     | 10/17/19 |     | $        | 2,327,398 |
| Mahindra & Mahindra Ltd.             |     | 6/19/19  |     | $        | 1,680,022 |
| Mahindra & Mahindra Ltd.             |     | 8/29/19  |     | $        | 1,000,000 |

<div align='center'>142</div>

Investors’ Rights Agreement

On August 17, 2021, Zoomcar
entered into a Seventh Amended and Restated Investor’s Rights Agreement with the holders of its Preferred Stock, including CEO Gregory
Moran, director Graham Gullans, entities affiliated with Mr. Gullans, Ford, Sequoia and OurCrowd, and with and the holders of Series P1