Company: NKLR
Filing Date: 2025-08-01
Form Type: S-4/A
Source: 0001213900-25-070223
Chunk: 221

Company: Terra Innovatum Global N.V.
Filing Date: 2025-08-01
Form: S-4/A
Chunk 221
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 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 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-Royce SMR                        
 •   Radiant (Alternative Energy Equipment) 
 •   Nano Nuclear Energy (NAS: NNE)         
 •   CORE POWER                             |     | •   Newcleo                  
 •   NuScale Power (NYS: SMR) 
 •   Naarea                   
 •   Ultra Safe Nuclear       
 •   Oklo (NYS: OKLO)         |

•Energy Sector: ERShares focused on transactions involving companies falling in the Pitchbook Industries and Verticals Energy Sector, specifically in the Energy Equipment and Exploration, Production and Refining industry group, which it considered most likely to encompass companies that have similarities to the Company in terms of operation characteristics and trajectories. •Revenues under $5M: Among transactions falling into the Energy category, ER