Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 270

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 270
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 penalties in income tax expense. The Company had no accruals for interest and penalties at December 31,
2024 and 2023.

The Company files tax returns as prescribed by the
tax laws of the jurisdictions in which it operates. The statute of limitations for assessment by the Italian tax authorities remains open
for the tax years December 31, 2021 through December 31, 2024 as the Company was incorporated in 2021. There are currently
no income tax audits in progress. The resolution of tax matters is not expected to have a material effect on the Company’s financial
statements.

<div align='center'>F-48

Terra Innovatum, Srl.
Notes to the Financial Statements</div>

Note 12. Subsequent Events

The Company has evaluated subsequent events through
the date these financial statements were issued, which represents the date the financial statements were available to be issued, and determined
that there have been no events that have occurred that would require adjustments to disclosures in the financial statements other than
the following:

Lease Agreement

On April 1, 2025, the Company entered into a lease
agreement with Nine Nuclear and Industrial Engineering S.R.L., a related party, to sublease three office rooms from a property unit located
in Lucca, Sorbano del Giudice, Via della Chiesa XXXII n. 759. The three office rooms will be used exclusively for professional office
purposes and related activities. The term of the lease agreement is 24 months starting from April 1, 2025 and ending on March 31, 2027.
Each party may withdraw from the lease agreement at any time before the expiration date of the contract. The rent is €11,400 ($12,320
USD) per annum, €950 ($1,027 USD) per month plus €50 ($54 USD) monthly as a flat-rate reimbursement for utilities and cleaning
costs (the “Lease Fee”), with the total monthly amount to be paid no later than the 10th of each month. The Lease Fee will
be updated annually by 75% of the variation in the official consumer price indices for worker and employee families as determined by the
Italian Statistics Day (“ISTAT”) in the previous year and subsequently year by year, with the first update taking effect on
April 1, 2026. The lease agreement is subject to VAT according to Italian tax regulations.

Merger

Background

On April