Zoomcar Holdings, Inc. announced that it has entered into a common stock purchase agreement with new investor White Lion Capital LLC to issue common shares for the gross proceeds of $25,000,000 on May 6, 2024. The Common Stock Purchase Agreement will terminate automatically on the earliest of the two year anniversary of its execution date, the date when White Lion buys all the shares it agreed to buy under the Common Stock Purchase Agreement; or the date, if any, when the Company files for bankruptcy, has a bankruptcy case filed against it, has a custodian appointed for it or its property, or assigns its assets to its creditors. The sales of Common Stock by the Company to the Investor will be made in reliance upon the exemption provided by Section 4(a)(2) of the Securities Act (?

Section 4(a)(2) ?) and/or Rule 506(b) of Regulation D promulgated by the Commission under the Securities Act (? Regulation D ?), and upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all of the issuances and sales of Common Stock by the Company to the Investor to be made hereunder.