Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 84

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 84
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10% of the total
market capitalization of the Company (calculated as the average closing price of the Class A Ordinary Shares over the 30 trading days
prior to the date of each payment in respect of the indemnification undertakings multiplied by the total number of issued and outstanding
shares of the Company as of the date of each payment), and (iv) in connection with or arising out of a public offering of the Company’s
securities, the aggregate amount of proceeds from the sale of, or value exchanged in relation to, such securities by the Company and/or
any shareholder in such offering. Such indemnification amounts are in addition to any insurance amounts. However, in the opinion of the
SEC, indemnification of directors and officers for liabilities arising under the Securities Act is against public policy and therefore
unenforceable. The Articles include provisions under which Office Holders are or may be insured, exempted or indemnified against liability,
which they may incur in their capacities as such, to the maximum extent permitted by law.

| Item 16. | Exhibits |

<div align='center'>EXHIBIT INDEX</div>

The following documents are filed as part of this registration statement:

| Exhibit 
 No.     
 1.1*    
 4.1     
 4.2     | Description                                                                                                                                                                                                                                                                                                                 
 Form of Underwriting Agreement                                                                                                                                                                                                                                                                                              
 Articles of Association of Pagaya Technologies Ltd., as amended and restated on December 11, 2024 (incorporated by reference to Exhibit 3.1 of Pagaya Technologies Ltd. Current Report on Form 8-K filed with the SEC on December 12, 2024)                                                                                 
 Specimen Ordinary Share Certificate of Pagaya Technologies Ltd. (incorporated by reference to Exhibit 4.5 of Pagaya Technologies Ltd. Amendment No. 1 to Registration Statement on Form F-4 filed with the SEC on May 9, 2022)                                                                                              |
|:--------|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.3     | Indenture, dated as of October 1, 2024, by and among the Company, Pagaya US and the Trustee (incorporated by reference to Exhibit 4.1 of Pagaya Technologies Ltd. Current Report on Form 8-K filed with the SEC on October 1, 2024)                                                                                         |
| 4.4     | Form of Global Note, representing Pagaya US’s 6.125%