Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 268

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 268
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   2023 |
|:------------------------------------|:----|:-------------|--------:|:----|:--|-------:|
| General and administrative expenses |     | $            |  77,567 |     | $ |  2,358 |
| Development costs                   |     |              |  74,736 |     |   | 41,344 |
| Total operating expenses            |     | $            | 152,303 |     | $ | 43,702 |

<div align='center'>F-47

Terra Innovatum, Srl.
Notes to the Financial Statements</div>

Note 11. Income Taxes

The key measures of segment profit or loss reviewed
by the CODM are general and administrative expenses and development costs. General and administrative expenses and development costs are
reviewed and monitored by the CODM to manage cash to ensure enough capital is available to complete a potential business combination with
a SPAC. The CODM also reviews general and administrative and development costs to manage, maintain and enforce all contractual agreements
to ensure costs are aligned with all agreements and budget.

The Company is domiciled in Italy and is primarily
subject to taxation in that country.

Income (loss) before provision for income taxes
consisted of the following:

|                                        |     | Years Ended December 31, 
 2024                     |         |   |     | 2023 |        |   |
|:---------------------------------------|:----|:-------------------------|:--------|:--|:----|:-----|:-------|:--|
| Loss before provision for income taxes |     | $                        | (23,207 | ) |     | $    | (4,799 | ) |

The provision for income taxes for the years
ended December 31, 2024 and 2023 consisted of the following:

|                                        |     | Years Ended December 31, 
 2024                     |        |     | 2023 |      |   |
|:---------------------------------------|:----|:-------------------------|-------:|:----|:-----|:-----|:--|
| Current income tax (benefit) expense:  |     | $                        | 10,374 |     | $    | (327 | ) |
| Deferred income tax (benefit) expense: |     |                          |      — |     |      | —    |   |
| Total income tax provision (benefit)   |     | $