Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 35

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 35
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 regarding the removal of any of its directors from office, or certain other
provisions regarding the board, shareholder proposals, and the size of Pagaya’s Board of Directors. Other exceptions to the simple
majority vote requirement are a resolution for the voluntary winding up, or an approval of a scheme of arrangement or reorganization of
the company pursuant to Section 350 of the Companies Law, which requires the approval of a majority of the shareholders present and represented
at the

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meeting and holding at least 75% of the voting rights
represented at the meeting and voting on the resolution. A scheme of arrangement may also require approval by separate class votes.

Access to Corporate Records

Under the Companies Law, all shareholders generally
have the right to review minutes of Pagaya’s general meetings, Pagaya’s shareholder register (including with respect to material
shareholders), the Articles, Pagaya’s annual financial statements, other documents as provided in the Companies Law, and any document
Pagaya is required by law to file publicly with the Israeli Registrar of Companies or the Israel Securities Authority. Any shareholder
who specifies the purpose of its request may request to review any document in Pagaya’s possession that relates to any action or
transaction with a related party which requires shareholder approval under the Companies Law. Pagaya may deny a request to review a document
if it determines that the request was not made in good faith, that the document contains a commercial secret or a patent, or that the
document’s disclosure may otherwise impair its interests.

Anti-Takeover Provisions; Acquisitions under Israeli Law

Full Tender Offer

A person wishing to acquire shares of a public
Israeli company who would, as a result, hold over 90% of the target company’s voting rights or the target company’s issued
and outstanding share capital (or of a class thereof), is required by the Companies Law to make a tender offer to all of the company’s
shareholders for the purchase of all of the issued and outstanding shares of the company (or the applicable class). If (a) the shareholders
who do not accept the offer hold less than 5% of the issued and outstanding share capital of the company (or the applicable class) and
the shareholders who accept the offer constitute a majority of the issued and outstanding share capital held by offerees that do not have
a personal interest in the acceptance of the tender offer, or (b) the shareholders who did not accept the tender offer hold less