X0206 3 2015-04-30 0 0001622577 Arowana Inc. ARWA 0001641021 Hui Gary C/O AROWANA INC. LEVEL 11, 153 WALKER STREET NORTH SYDNEY C3 NSW 2060 AUSTRALIA 1 1 0 0 CFO and CIO Ordinary Share 255549 I by Beira Corp. Ordinary Share 54019 I by Beira Corp. Right to Receive Ordinary Share Ordinary Share 5402 I by Beira Corp. Redeemable Warrant Ordinary Share 27010 I by Beira Corp. Includes up to 33,413 ordinary shares that may be compulsorily repurchased by the Issuer if the underwriters in the Issuer's initial public offering do not exercise the over-allotment option in full. Beira Corp. is an entity controlled by Mr. Hui. Mr. Hui disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Hui is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Represents securities underlying 54,019 units of the Issuer, which units, prior to the effective date of the registration statement relating to the Issuer's initial public offering, Beira Corp. irrevocably committed to purchase. Each unit ("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. The purchase of these units is being made on a private placement basis and will be consummated simultaneously with the consummation of 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 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. 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. /s/ Gary San Hui 2015-04-30