Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 146

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 146
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 Under the rules of Nasdaq, independent directors must comprise a majority
of a listed company’s board of directors. In addition, the rules of Nasdaq require that, subject to specified exceptions, each
member of a listed company’s audit, compensation and nominating and corporate governance committees be independent. Under the rules
of Nasdaq, a director will only qualify as an “independent director” if in the opinion of that company’s board of directors,
that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities
of a director. Audit committee members must also satisfy the additional independence criteria set forth in Rule 10A-3 under the
Exchange Act and the rules of Nasdaq. Compensation committee members must also satisfy the additional independence criteria set
forth in Rule 10C-1 under the Exchange Act and the rules of Nasdaq. Due to the resignation of one of its independent directors
on November 7, 2025 for personal reasons, Terra currently is not in compliance with the majority independent board requirement but will
resolve the noncompliance through the addition of a new independent director.

In order to be considered
independent for purposes of Rule 10A-3 under the Exchange Act and under the rules of Nasdaq, a member of an audit committee
of a listed company may not, other than in his or her capacity as a member of the committee, the board of directors, or any other board
committee: (a) accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the listed company or any
of its subsidiaries; or (b) be an affiliated person of the listed company or any of its subsidiaries.

To be considered independent for purposes of
Rule 10C-1 under the Exchange Act and under the rules of Nasdaq, the board of directors must affirmatively determine that the
member of the compensation committee is independent, including a consideration of all factors specifically relevant to determining whether
the director has a relationship to the Company which is material to that director’s ability to be independent from management in
connection with the duties of a compensation committee member, including, but not limited to:

| (i) | the                                                                                               
 source of compensation of such director, including any consulting, advisory or other compensatory 
 fee paid by the Company to such director; and                                                     |

| (ii) | whether                                                                                   
 such director is affiliated with the Company, a subsidiary of the Company or an affiliate 
 of a subsidiary of