Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 212

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 212
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 potential focused similarities to the Company. •US Exchanges: Among the companies within the Electric Power Generation by Nuclear Fuels Category, ERShares focused on 13 companies that were listed on US exchanges, which ERShares considered relevant to the Company given its intent to list on a US Exchange. •No Revenues: Among the companies within the Electric Power Generation by Nuclear Fuel Category and listed on US exchanges, ERShares chose the 2 companies that had no revenues, which ERShares considered most relevant to the Company given its current operations. For each of the Comparable Companies identified above, a valuation range of $0.9 Billion to $3.1 Billion was determined for Terra Innovatum’s consolidated potential future business, based on the Minimum and Maximum Market Capitalization of the 2 companies identified above. The Market Capitalization of the 2 Companies derived, were reflected in the most recent public filings made by the Comparable Companies and data made available by CapitalIQ as of the date of valuation. Based on the derived valuation range of approximately $0.9 Billion to $3.1 Million, the transaction based on a pre -moneytotal enterprise value of $475 Million fell below the derived valuation range and was deemed to be fair from a financial point of view under this methodology. Guideline Transaction Analysis The GTM Analysis is a market method examining comparable transactions based on ERShares’ review and analysis of publicly available data (sourced through the subscription database Pitchbook) about initial public offerings, reverse mergers, early stage and late stage investments. Within these guidelines, the following factors were considered in determining the appropriateness of transactions for inclusion in the GTM Analysis carried out 85

by ERShares: (i) sector, (ii) business status (iii) deal type (iv) deal status (v) deal date and (vi) Revenues. Utilizing the criteria set forth above, ERShares identified 10 guideline transactions (the “ GTM Guideline Transactions” and collectively, the “ Guideline Transactions Group”) that ERShares considered relevant for comparative purposes, though, as described below, none of the selected transactions has characteristics identical to the proposed Business Combination or involves businesses that are identical to the Company. The categories of transactions used by ERShares as criteria for inclusion in the Guideline Transactions Group can be summarized as follows, based on information accessed by ERShares through Pitchbook on April 07, 2025: The GTM Guideline Transactions are as follows:

| •   Zeno (Alternative Energy Equipment)    
 •   Rolls