Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 32

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 32
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time and place, within or outside of Israel, as it may determine. In addition, the Companies Law provides that Pagaya’s Board of
Directors is required to convene a special general meeting of its shareholders upon the written request of (i) any two or more of its
directors, (ii) one-quarter or more of the serving members of its board of directors or (iii) as a company listed on an exchange in the
U.S., one or more shareholders holding, in the aggregate, either (a) 10% or more of Pagaya’s issued and outstanding shares and 1%
or more of Pagaya’s outstanding voting power or (b) 10% or more of Pagaya’s outstanding voting power.

Under Israeli law, one or more shareholders holding
at least 1% of the voting rights at a general meeting of shareholders may request that Pagaya’s Board of Directors include a matter
in the agenda of a general meeting of shareholders to be convened in the future, provided that it is appropriate to discuss such a matter
at the general meeting. Notwithstanding the foregoing, as a company listed on an exchange outside of Israel, a matter relating to the
appointment or removal of a director may only be requested by one or more shareholders holding at least 5% of the voting rights at the
general meeting of the shareholders. The Articles contain procedural guidelines and disclosure items with respect to the submission of
shareholder proposals for general meetings. Subject to the provisions of the Companies Law and the regulations promulgated thereunder,
shareholders entitled to participate and vote at general meetings of shareholders are the shareholders of record on a date to be decided
by Pagaya’s Board of Directors, which as a company listed on an exchange outside Israel may be between four and 60 days prior to
the date of the meeting.

Furthermore, the Companies Law requires that resolutions
regarding the following matters must be passed at a general meeting of shareholders:

| · | amendments to the Articles; |

| · | appointment, terms of service and termination of services of auditors; |

| · | appointment of directors, including external directors (if applicable); |

| · | approval of certain related party transactions; |

| · | increases or reductions of authorized share capital; |

| · | a merger; and |

| · | the exercise of the powers of Pagaya’s Board of Directors by a general meeting, if Pagaya’s Board of Directors is unable 
 to exercise its powers and the exercise of any of