Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 696

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 696
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ex D-21

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| Address:            |     |       |
| Email:              |     |       |

[Signature Page to Amended and Restated Registration Rights Agreement]

Annex D-22

Annex E Opinion of EntrepreneurShares LLC, dated April 7, 2025

GSR III Acquisition Corp.
Attention: Board of Directors
5900 Balcones Drive, Suite 100Austin, Texas 78731 Fairness Opinion Letter We understand that GSR III Acquisition Corp. (“GSRT”), entered into a non -bindingLetter of Intent (“LOI”) dated December24, 2024, by and among Terra Innovatum s.r.l. (“Terra Innovatum” or the “Company”) and GSRT, in connection with a proposed business combination of GSRT and Terra Innovatum (the “Transaction”) based on a pre -moneyEnterprise Value of $475 Million. After giving effect to the Transaction, GSRT and Terra Innovatum will be wholly owned subsidiaries of a newly formed publicly listed company (“NewCo”). The Board of Directors of GSRT (“you”) have engaged EntrepreneurShares LLC (“ERShares Valuation Services” or “us”) to render an opinion (this “Opinion”) as to the fairness, from a financial point of view to GSRT and to the shareholders of GSRT (other than GSR III Sponsor LLC (the “Sponsor”) or any of its affiliates, of the Transaction Consideration to be issued or paid to such shareholders in the Transaction. This Opinion is furnished solely to be utilized by the Board of Directors of GSRT as only one input to consider in its process of analyzing the Transaction and it does not constitute a recommendation to any member of the Board of Directors, any stockholder of GSRT, or any other person as to how such person should vote or act with respect to the Transaction. This Opinion is delivered to the Board of Directors of GSRT subject to the conditions, scope of engagement, limitations and understanding set forth in this Opinion. Furthermore, no officer, director, employee or shareholder of ERShares Valuation Services shall be subjected to any personal liability whatsoever (other than for fraud, gross negligence, willful misconduct or bad faith) to any person, nor will any such claim be asserted by or on behalf of you or your affiliates against such person with respect to this Opinion other than against ERShares Valuation Services. We have