Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 342

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 342
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 prior to the liquidations. If upon the liquidation, the available assets shall be insufficient to make payment in full
to all holders of the Preferred Stock, then the available assets shall be distributed among the holders of Preferred Stock at the time issued, ratably in proportion to the full amounts to which they would otherwise be respectively entitled if the
entire preferred stock liquidation preference were paid in full. Second, after the payment of the full Preferred Stock liquidation preference, the remaining available assets shall be distributed ratably to the holders of the common stock based on
the number of common stock held by each such holder.

Redemption

To the
extent the preferred stock has not been previously redeemed or converted, a holder of preferred stock may require Circle to redeem its preferred stock, with prior written consent of at least 55% of the holders of Voting Preferred Stock. A redemption
would occur in three annual installments that could commence no sooner than the fifth anniversary of the latest amendment and restatement of the Company’s Constitution, or May 6, 2027. Redemptions, if any, will be made from profits available
for distribution to the extent available. If there are insufficient profits available for distribution to redeem all of the preferred stock to be redeemed, Circle will redeem the remaining shares to be redeemed as soon as there are sufficient
profits available for distribution.

Conversion

The Preferred Stock may
at the option of the holder thereof be converted at any time into fully-paid common stock. In addition, each preferred share shall automatically be converted into common stock upon the closing of an underwritten public offering of the Company’s
common stock at a price per share of not less than $32.64, subject to certain adjustments, where the Company receives proceeds of $150.0 million or more. The number of common stock into which each Series A or Series B or Series C or Series C-1 or Series D or Series E or Series F

F-46

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 preferred stock may be converted shall be determined by dividing the Series A or Series B or Series C or Series C-1or Series D or Series E or Series F original price by the Series A or Series B or Series C or Series C-1or Series D or Series E or Series F conversion price (as defined in the Constitution), in effect at the time of the conversion. Following is