Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 267

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 267
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 liabilities |     | $ |       20,523 |     | $ |        9,062 |

Note 8. Other Non-Current Liabilities

Other non-current liabilities consist of Trattamento
di Fine Rapporto (“TFR”) liability of $5,585 and $2,103 as of December 31, 2024, and December 31, 2023, 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.

Note 9. Quotaholders’ Deficit

The Company is an Srl., which is an Italian limited
liability company similar to a limited liability company in the United States. Unlike corporations that issue shares of stock, the
Company’s Articles of Incorporation designate ownership in the form of quotas, which represent its corporate capital.

Corporate Capital

As an Srl., the Company’s ownership structure
is defined by “corporate capital” and “quotas” rather than shares, stock or units. As of December 31, 2024
and 2023, the total authorized, subscribed and paid-up capital was $3,160, consisting of quotas from founders and investors. Voting rights
are proportional to the percentage of quotas owned, and members are entitled to a share of profit and losses based on their ownership
percentage.

In March 2024, certain quotaholders transferred
portions of their holdings to new and existing quotaholders, resulting in a revised ownership structure. No additional contributions or
quota issuance have occurred during the year ending December 31, 2024. The transfer of quotas is subject to member approval, as outlined
in the Company’s articles of incorporation. No dividends or distributions were declared for the year, in accordance with Italian
regulations for early-stage “start-up innovative” companies.

Note 10. Segment Information

When evaluating the Company’s performance
and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

|                                     |     | Years Ended  
 December 31, |    2024 |     |   |