David Ishag - Dec 28, 2023 Form 4 Insider Report for Zoomcar Holdings, Inc. (ZCAR)

Role: Director
Signature: /s/ David Ishag
Stock symbol: ZCAR
Transactions as of: Dec 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/11/2024, 11:32 AM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZCAR	Common Stock	Award		+3.91K			3.91K	Dec 28, 2023	Direct	F1
transaction	ZCAR	Common Stock	Award		+2.86K	+73.17%		6.78K	Dec 29, 2023	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares were initially issued by Zoomcar, Inc. ("Zoomcar") and were exchanged for shares of common stock issued by Zoomcar Holdings, Inc. (the "Issuer") on December 28, 2023, upon the consummation by the Issuer of its initial business combination (the "Business Combination") with Zoomcar pursuant to that certain agreement and plan of merger, dated as of October 13, 2022, by and among Zoomcar, the Issuer and the other parties thereto (the "Merger Agreement").
F2	These shares were issued as a result of the first amendment to the Merger Agreement, entered into by Zoomcar and the Issuer, among other parties on December 29, 2023, resulting in the issuance of the earnout shares contemplated by the Merger Agreement.

Content

These shares were initially issued by Zoomcar, Inc. ("Zoomcar") and were exchanged for shares of common stock issued by Zoomcar Holdings, Inc. (the "Issuer") on December 28, 2023, upon the consummation by the Issuer of its initial business combination (the "Business Combination") with Zoomcar pursuant to that certain agreement and plan of merger, dated as of October 13, 2022, by and among Zoomcar, the Issuer and the other parties thereto (the "Merger Agreement").

These shares were issued as a result of the first amendment to the Merger Agreement, entered into by Zoomcar and the Issuer, among other parties on December 29, 2023, resulting in the issuance of the earnout shares contemplated by the Merger Agreement.