Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 287

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 287
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  600,869 |     | $ |       20,523 |

Note 8. Other Non-Current Liabilities

Other non-current liabilities consist of Trattamento
di Fine Rapporto (“TFR”) liability of $8,396 and $5,585 as of June 30, 2025 and December 31, 2024, respectively.
TFR represents a defined-benefit plan in Italy, a legally required end-of-service allowance, paid regardless of the reason for the employee’s
departure from the company. The annual accrual is approximately 7% of total pay, with no ceiling, and is revalued each year by applying
a pre-established rate of return of 1.50%, plus 75% of the Consumer Price Index, and is recorded by a book reserve. TFR is an unfunded
plan.

<div align='center'>F-62

Terra Innovatum Global, Srl.
Notes to the Consolidated Financial Statements
(Unaudited)</div>

Note 9. Bridge Loans and Warrants

Bridge Loans

In May and June 2025, the Company entered into
a series of unsecured debt note subscription agreements (the “Bridge Loans”) with multiple lenders, generating aggregate gross
proceeds of $5,000,000. In accordance with the terms of the agreements, the Bridge Loans bear interest at a fixed annual rate of 15%,
payable in kind (“PIK”) calculated on the outstanding principal balance. The Bridge Loans mature one year from their respective
issuance dates and are subject to mandatory early redemption upon the consummation of a qualifying business combination, such as the Merger.
In such an event, all accrued and unaccrued interest becomes immediately due and payable on the 30 day following the
completion of the qualifying transaction.

During May 2025 and June 2025, the company
entered into multiple letter agreements to convert the Bridge Loans into ordinary shares of Terra Innovatum Global, Srl. if the Merger
is completed (the “Bridge Loan Conversion”). If the Bridge Loan Conversion happens at the time of the Merger, the shares will
be priced at $7.00 each. If the Merger does not occur by April 30, 2026, the Bridge Loan Conversion price will instead be based on
a valuation of $100,000,000 divided by the fully diluted equity of Terra Innovatum Global, Srl. If the Merger is successful,