Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 8

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 8
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 and Amendment Agreement.

<div align='center'>2

SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS</div>

This prospectus and the documents incorporated
by reference into this prospectus contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended (the “Securities Act”) and Section 21E of the Exchange Act of 1934, as amended (the “Exchange Act”).
Forward-looking statements include, without limitation, our expectations concerning the outlook for our business, productivity, plans
and goals for future operational improvements and capital investments, operational performance, future market conditions or economic performance
and developments in the capital and credit markets and expected future financial performance, as well as any information concerning possible
or assumed future results of operations. All statements other than statements of historical facts contained in this prospectus, including
statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are
forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,”
“project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,”
“seek,” “strategy,” “future,” “opportunity,” “may,” “target,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” or similar expressions, or negatives of those expressions, that predict or indicate future events or trends or that are
not statements of historical matters.

Forward-looking statements involve a number of
risks, uncertainties and assumptions, and actual results or events may differ materially from those implied in those statements. Important
factors that could cause such differences include, but are not limited to:

| · | the ability to implement business plans and other expectations; |

| · | the impact of the continuation of or changes in the short-term and long-term interest rate environment; |

| · | uncertain market or political conditions; |

| · | the availability and cost of capital, including the financing of risk retention investments; |

| · | our ability to service our debt financing and meet associated covenants; |

| · | our ability to develop and maintain a diverse and robust funding network; |

| · | the impact of fair value changes in our risk retention investments in our Financing Vehicles; |

| · | our uncertain future prospects and rate of growth due to our relatively limited operating history; |

| · | the