Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 186

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 186
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center'>110</div>

Repurchase of Shares

Subject to Dutch law and the Terra Articles of Association,
Terra may acquire fully paid-up Terra shares in the capital of Terra either for no consideration or under universal title of succession,
or against consideration if (i) Terra’s shareholders’ equity (eigen vermogen) less the acquisition price is not
less than the sum of the paid-up and called-up share capital and any reserves to be maintained by Dutch law or the Terra Articles of Association,
(ii) Terra and its subsidiaries would not thereafter hold shares or hold shares as pledgee with an aggregate nominal value exceeding
50% of Terra’s then current issued and outstanding share capital, and (iii) the Terra board of directors has been designated
to do so by the Terra general meeting. Any acquisition by Terra of shares in the capital of Terra that are not fully paid-up shall be
null and void.

The authorization to the Terra board of directors
to acquire Terra shares in Terra is valid for a maximum of 18 months. As part of the authorization, the general meeting of Terra
must specify the number of Terra shares that may be repurchased, the manner in which the Terra shares may be acquired and the price range
within which the Terra shares may be acquired. The designation of the Terra board of directors is not required if Terra acquires fully
paid-up Terra Ordinary Shares for the purpose of transferring these to employees of Terra or its subsidiaries under any applicable equity
compensation plan, provided that those shares are quoted on an official list of a stock exchange.

In addition, Terra nor its subsidiaries may hold
more than one-tenth of its issued share capital for more than three years after it was converted into a public limited liability
company (naamloze vennootschap) or after it acquired its own shares (i) for no consideration or (ii) under universal
succession of title (algemene titel). Owned Terra shares pledged by Terra and its subsidiaries are taken into account in this respect.
Any Terra shares held by Terra in excess of the amount permitted shall automatically transfer to the directors jointly at the end of the
last day of such three-year period. Each director shall be jointly and severally liable to compensate Terra for the value of the
Terra shares at such time, with interest at the statutory rate thereon from such time. The same applies to the acquisition of Terra shares
for employees of Terra under any applicable equity compensation plan, provided that those Terra shares are quoted on an