X0306 4 2015-05-12 0001622577 Arowana Inc. ARWA 0001641004 Kwan Kien Khan C/O AROWANA INC. LEVEL 11, 153 WALKER STREET NORTH SYDNEY C3 NSW 2060 AUSTRALIA 1 0 0 0 Ordinary Shares 25554 D Ordinary Shares 2015-05-12 4 P 0 642 10.00 A 6043 D Right to Receive Ordinary Share 2015-05-12 4 P 0 642 10.00 A Ordinary Share 64 6043 D Redeemable Warrant 2015-05-12 4 P 0 642 10.00 A Ordinary Share 321 6043 D Represents securities underlying units of the Issuer ("Unit"). Each Unit consists of one ordinary share, one right ("Right") to receive one-tenth of one ordinary share upon the consummation of the Issuer's initial business combination and one redeemable warrant ("Warrant") entitling the holder to purchase one-half of one ordinary share. Represents the price for which 642 Units were purchased, which price includes consideration for the underlying Ordinary Shares, Rights and Warrants. The Reporting Person irrevocably committed to purchase such Units prior to the effective date of the registration statement relating to the Issuer's initial public offering. Each Right entitles the holder to receive one-tenth (1/10) of one ordinary share upon consummation of the Issuer's initial business combination. If the Issuer fails to consummate an initial business combination within eighteen (18) months from the closing of the Issuer's initial public offering, the Issuer will be dissolved and the Rights will expire worthless. Each Warrant entitles the holder thereof to purchase one-half of one ordinary share at a price of $12.50 per full share, exercisable in multiples of two. Each Warrant will become exercisable on the later of the completion of an initial business combination and April 30, 2016. Each Warrant will expire five years after the completion of an initial business combination, or earlier upon redemption. /s/ Kien Khan Kwan 2015-05-12