Airwa Inc.

Acquisitions On November 21, 2024, the Company completed the acquisition of Yuanyu Enterprise Management Co., Limited ( YYEM ), for a combined $56 million in cash and shares, following The Nasdaq Stock Market LLC’s ( Nasdaq ) approval of the new listing application submitted to it in connection with the acquisition. As part of the transaction, the Company agreed to sell its wholly owned subsidiary, Slinger Bag Americas Inc., to a newly established Florida limited liability company owned by members of the Company’s prior management team. On November 21, 2024, five new individuals assumed their positions on the Company’s Board of Directors (the Board of Directors or the Board ), and YYEM which licensed out intellectual property to companies in the online dating industry, became the Company’s sole operating subsidiary. On January 30, 2026, the Company completed the acquisition of the holding company of Rafael AI Sdn. Bhd. ( Rafael AI , known at the time as 26 Rafael Sdn. Bhd.), an AI-specialist company based in Malaysia, for $140 million in USDT, with Rafael AI becoming a wholly owned subsidiary of the Company. On July 30, 2026, the Company completed the acquisition of 97% of Hongkong Best Life Trade Co., Limited ( Best Life ), an international trading company, for $50 million in a combination of cash and stablecoin, with earn-outs payable if Best Life achieves certain performance milestones.