Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 67

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 67
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Power to vary class rights

| 3.9 | If                                                                                                                               
 the share capital is divided into different classes of Shares then, unless the terms on which a class of Shares was issued state 
 otherwise, the rights attaching to a class of Shares may only be varied if one of the following applies:                         |

| (a) | the                                                                                                   
 Members holding two thirds of the issued Shares of that class consent in writing to the variation; or |

| (b) | the                                                                                                                                
 variation is made with the sanction of a Special Resolution passed at a separate general meeting of the Members holding the issued 
 Shares of that class.                                                                                                              |

| 3.10 | For                                                                                                                                     
 the purpose of paragraph (b) of the preceding Article, all the provisions of these Articles relating to general meetings apply, mutatis 
 mutandis, to every such separate meeting except that:                                                                                   |

| (a) | the                                                                                                                              
 necessary quorum shall be one or more persons holding, or representing by proxy, not less than one third of the issued Shares of 
 the class; and                                                                                                                   |

| (b) | any                                                                                                                                    
 Member holding issued Shares of the class, present in person or by proxy or, in the case of a corporate Member, by its duly authorised 
 representative, may demand a poll.                                                                                                     |

Effect of new Share issue on existing class rights

| 3.11 | Unless                                                                                                                                
 the terms on which a class of Shares was issued state otherwise, the rights conferred on the Member holding Shares of any class shall 
 not be deemed to be varied by the creation or issue of further Shares ranking pari passu with the existing Shares of that class.      |

| Annex C-16 |

Capital contributions without issue of further Shares

| 3.12 | With                                                                                                                                
 the consent of a Member, the directors may accept a voluntary contribution to the capital of the Company from that Member without   
 issuing Shares in consideration for that contribution. In that event, the contribution shall be dealt with in the following manner: |

| (a) | It                                              
 shall be treated as if it were a share premium. |

| (b) | Unless                       
 the Member agrees otherwise: |

| (i) | if                                                                                                                               
 the Member holds Shares in a single class of Shares, it shall be credited to the share premium account for that class of Shares; |

| (ii) | if                                                                                                                                 
 the Member holds Shares of more than one class, it shall be credited rateably to