EX-4.8




 Exhibit 4.8 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of June 10, 2022, by and among RISE Education Cayman
Ltd., an exempted company incorporated under the laws of the Cayman Islands with limited liability, which, upon completion of the Mergers (as defined below), is expected to be known as NaaS Technology Inc. (Nasdaq: NAAS) (the
“Company”), Bain Capital RISE Education IV Cayman Limited, an exempted company incorporated under the laws of the Cayman Islands with limited liability (the “Bain Investor”), and each Person who executes a Joinder
to this Agreement. Except as otherwise specified herein, all capitalized terms used in this Agreement are defined in Exhibit A attached hereto. 

WHEREAS, the Company, Dada Auto Inc., an exempted company incorporated with limited liability under the laws of the Cayman Islands
(“Dada”), Dada Merger Sub Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands (“Merger Sub”) and Dada Merger Sub II Limited, an exempted company incorporated with
limited liability under the laws of the Cayman Islands (“Merger Sub II”) are parties to an agreement and plan of merger, dated as of February 8, 2022 (as may be amended, supplemented or otherwise modified from time to time in
accordance with its terms, the “Merger Agreement”), which provides, among other things, for the merger of Merger Sub with and into Dada, with Dada continuing as the surviving corporation (the “Merger”) and for the
merger of the surviving corporation from the Merger with and into Merger Sub II, with Merger Sub II continuing as the surviving corporation and a wholly-owned subsidiary of the Company (the “Second Merger”, together with the Merger,
the “Mergers”), upon the terms and subject to the conditions set forth in the Merger Agreement; upon completion of the Mergers (the “Closing”), the Company is expected to be known as NaaS Technology Inc.; 

WHEREAS, the Bain Investor, as of the date hereof and immediately prior to the completion of the Mergers, holds 119,372,236 ordinary shares of
the Company, par value $0.01 per share (“Company Ordinary Shares”, and together with any equity securities of the Company issued or issuable with respect to such Company Ordinary Shares held by the Bain Investor as of the date
hereof by way of dividend, distribution, split or combination of securities, or any recapitalization, re-designation, re-classification, merger, consolidation or other
reorganization, including, for the avoidance of doubt, such Company Ordinary Shares held by the Bain Investor immediately prior to the Closing that will be re-designated as Company Class A Shares upon the
Closing, the “Registrable Securities”); and 
 WHEREAS, the Bain Investor and the Company desire to enter into this
Agreement in connection with the Closing to provide certain registration rights with respect to the Registrable Securities, on the terms and subject to the conditions set forth in this Agreement. 











 In consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

Section 1 Demand Registrations. 

(a) Requests for Registration. At any time and from time to time, any Holder holding at least twenty percent (20%) of the Registrable
Securities then outstanding (such Holder, the “Requesting Holder”) may request registration under the Securities Act of all or any portion of the Registrable Securities on Form F-1 or any
similar long-form registration statement (“Long-Form Registrations”) or on Form F-3 or any similar short-form registration statement (“Short-Form Registrations”), if
available. The Requesting Holder may request that any Demand Registration be made pursuant to Rule 415 under the Securities Act (a “Shelf Registration”) and (if the Company is a WKSI at the time any such request is submitted to the
Company or will become one by the time of the filing of such Shelf Registration) that such Shelf Registration be an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “Automatic Shelf Registration
Statement”). All registrations requested pursuant to this Section 1 are referred to herein as “Demand Registrations”. Each request for a Demand Registration must specify the approximate number or
dollar value of Registrable Securities requested to be registered by the Requesting Holder and (if known) the intended method of distribution. Any Holder holding at least twenty percent (20%) of the Registrable Securities then outstanding will be
entitled to request an unlimited number of Demand Registrations for which the Company will pay all Registration Expenses, whether or not any such registration is consummated. 

(b) Notice to Other Holders. Within ten (10) Business Days after receipt of any such request, the Company will give written notice
of the Demand Registration to all other Holders and, subject to the terms of Section 1(e), will include in such Demand Registration (and in all related registrations and qualifications under state blue sky laws and in any
related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within twenty (20) days after the receipt of the Company’s notice; provided that, with the written
consent of the Requesting Holder, the Company may, or at the written request of the Requesting Holder, the Company shall, instead provide notice of the Demand Registration to all other Holders within three (3) Business Days following the non-confidential filing of the registration statement with respect to the Demand Registration so long as such registration statement is not an Automatic Shelf Registration Statement. 

(c) Form of Registrations. All Long-Form Registrations will be underwritten registrations
unless otherwise approved by the Requesting Holder. Demand Registrations will be Short-Form Registrations whenever the Company is permitted to use any applicable short form unless otherwise requested by the Requesting Holder. 

  
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 (d) Shelf Registrations. 

(i) For so long as a registration statement for a Shelf Registration (a “Shelf Registration Statement”) is and
remains effective, the Requesting Holder will have the right at any time or from time to time to elect to sell pursuant to an offering (including an underwritten offering) Registrable Securities pursuant to such registration statement
(“Shelf Registrable Securities”). If the Requesting Holder desires to sell Registrable Securities pursuant to an underwritten offering, then the Requesting Holder may deliver to the Company a written notice (a “Shelf
Offering Notice”) specifying the number of Shelf Registrable Securities that the Requesting Holder desires to sell pursuant to such underwritten offering (the “Shelf Offering”). As promptly as practicable, but in no event
later than two (2) Business Days after receipt of a Shelf Offering Notice, the Company will give written notice of such Shelf Offering Notice to all other Holders of Shelf Registrable Securities that have been identified as selling stockholders
in such Shelf Registration Statement and are otherwise permitted to sell in such Shelf Offering, which such notice shall request that each such Holder specify, within seven (7) days after the Company’s receipt of the Shelf Offering Notice,
the maximum number of Shelf Registrable Securities such Holder desires to be disposed of in such Shelf Offering. The Company, subject to Section 1(e) and Section 6, will include in such Shelf
Offering all Shelf Registrable Securities with respect to which the Company has received timely written requests for inclusion. The Company will, as expeditiously as possible (and in any event within fourteen (14) days after the receipt of a
Shelf Offering Notice), but subject to Section 1(e), use its best efforts to consummate such Shelf Offering. 

(ii) If the Requesting Holder desires to engage in an underwritten block trade or bought deal pursuant to a Shelf Registration
Statement (either through filing an Automatic Shelf Registration Statement or through a take-down from an already existing Shelf Registration Statement) (each, an “Underwritten Block Trade”), then notwithstanding the time periods
set forth in Section 1(d)(i), such Requesting Holder may notify the Company of the Underwritten Block Trade not less than two (2) Business Days prior to the day such offering is first anticipated to commence. If
requested by the Requesting Holder, the Company will promptly notify other Holders of such Underwritten Block Trade and such notified Holders (each, a “Potential Participant”) may elect whether or not to participate no later than
the next Business Day (i.e. one (1) Business Day prior to the day such offering is to commence) (unless a longer period is agreed to by the Requesting Holder), and the Company will as expeditiously as possible use its best efforts to facilitate
such Underwritten Block Trade (which may close as early as two (2) Business Days after the date it commences). Any Potential Participant’s request to participate in an Underwritten Block Trade shall be binding on the Potential Participant.

 (iii) All determinations as to whether to complete any Shelf Offering and as to the timing, manner, price and other terms
of any Shelf Offering contemplated by this Section 1(d) shall be determined by the Requesting Holder, and the Company shall use its best efforts to cause any Shelf Offering to occur in accordance with such determinations as
promptly as practicable. 
 (iv) The Company will, at the request of the Requesting Holder, file any prospectus supplement or
any post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by the Requesting Holder to effect such Shelf Offering. 

(e) Priority on Demand Registrations and Shelf Offerings. The Company will not include in any Demand Registration any securities which
are not Registrable Securities without the prior written consent of the Requesting Holder. If a Demand Registration or a Shelf Offering is an underwritten offering and the managing underwriters advise the Company in writing that in their opinion the
number of Registrable Securities and (if permitted hereunder) other securities requested to be included in such offering exceeds the number of Registrable Securities and other securities (if any), which can be sold therein without adversely
affecting the marketability, proposed offering price, timing or method of distribution of the offering, then the Company will include in such offering the number of Registrable Securities requested to be included which, in the opinion of such
underwriters, can be sold, without any such adverse effect, pro rata among the respective Holders on the basis of the number of Registrable Securities owned by each such Holder. Unless otherwise consented to in writing by the Company and the
Requesting Holder, any Persons other than Holders who participate in Demand Registrations which are not at the Company’s expense must pay their share of the Registration Expenses as provided in Section 5 hereto. 

  
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 (f) Restrictions on Demand Registration and Shelf Offerings. 

(i) The Company may postpone, for up to forty-five (45) days from the date of the request (the “Suspension
Period”), the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is part of a Shelf Registration Statement (and therefore suspend sales of the Shelf Registrable
Securities) by providing written notice to the Holders if the following conditions are met: (A) the Company determines that the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on any
proposal or plan by the Company or any Subsidiary to engage in any material acquisition of assets or shares (other than in the ordinary course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization,
financing or other transaction involving the Company and (B) upon advice of counsel, the sale of Registrable Securities pursuant to the registration statement would require disclosure of material
non-public information not otherwise required to be disclosed under applicable law, and either (x) the Company has a bona fide business purpose for preserving the confidentiality of such transaction,
(y) disclosure would have a material adverse effect on the Company or the Company’s ability to consummate such transaction, or (z) such transaction renders the Company unable to comply with SEC requirements, in each case under
circumstances that would make it impractical or inadvisable to cause the registration statement for a Demand Registration or the Shelf Registration Statement (or such filings) to become effective or to promptly amend or supplement the registration
statement for a Demand Registration or the Shelf Registration Statement on a post effective basis, as applicable. The Company may delay or suspend the effectiveness of a Demand Registration or Shelf Registration Statement pursuant to this
Section 1(f)(i) only once in any twelve (12)-month period (for avoidance of doubt, in addition to the Company’s rights and obligations under Section 3(a)(vi)). 

(ii) In the case of an event that causes the Company to suspend the use of a Shelf Registration Statement as set forth in
Section 1(f)(i) above or pursuant to Section 3(a)(vi) (a “Suspension Event”), the Company will give a written notice to the Holders whose Registrable Securities are registered
pursuant to such Shelf Registration Statement (a “Suspension Notice”) to suspend sales of such Registrable Securities and such notice must state generally the basis for such notice and that such suspension will continue only for so
long as the Suspension Event or its effect is continuing. Each Holder agrees not to effect any sales of its Registrable Securities pursuant to such Shelf Registration Statement (or such filings) at any time after it has received a Suspension Notice
from the Company and prior to receipt of an End of Suspension Notice. A Holder may recommence effecting sales of the Registrable Securities pursuant to the Shelf Registration Statement (or such filings) following further written notice to such
effect (an “End of Suspension Notice”) from the Company, which End of Suspension Notice will be given by the Company to the Holders promptly following the conclusion of any Suspension Event (and in any event during the permitted
Suspension Period). 

  
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 (iii) Notwithstanding any provision herein to the contrary, if the Company
gives a Suspension Notice with respect to any Shelf Registration Statement pursuant to this Section 1(f), the Company will extend the period of time during which such Shelf Registration Statement will be maintained
effective pursuant to this Agreement by the number of days during the period from the date of receipt by the Holders of the Suspension Notice to and including the date of receipt by the Holders of the End of Suspension Notice and provide copies of
the supplemented or amended prospectus necessary to resume sales, with respect to each Suspension Event. 
 (g) Selection of
Underwriters. The Requesting Holder and the Company shall jointly select the legal counsel to the Company, the investment banker(s) and manager(s) to administer any underwritten offering in connection with any Demand Registration or Shelf
Offering. 
 (h) Revocation of Demand Notice or Shelf Offering Notice. At any time prior to the effective date of the
registration statement relating to a Demand Registration or the “pricing” of any offering relating to a Shelf Offering Notice, any Holder may revoke or withdraw such notice of a Demand Registration or Shelf Offering Notice on behalf of
itself without liability to other Holders, in each case by providing written notice to the Company. 
 (i) Confidentiality. Each
Holder agrees to treat as confidential the receipt of any notice hereunder (including notice of a Demand Registration, a Shelf Offering Notice and a Suspension Notice) and the information contained therein, and not to disclose or use the information
contained in any such notice (or the existence thereof) without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public generally (other than as a result of disclosure by
such Holder in breach of the terms of this Agreement), and other than as required by applicable law or the rules or regulations of the SEC or any applicable securities exchange. 

Section 2 Piggyback Registrations. 

(a) Right to Piggyback. Whenever the Company proposes to register any of its equity securities under the Securities Act (including
primary and secondary registrations, and other than pursuant to an Excluded Registration) and the registration form to be used may be used for the registration of Registrable Securities (a “Piggyback Registration”), the
Company will give prompt written notice (and in any event thirty (30) days prior to the anticipated filing of the registration statement relating to the Piggyback Registration) to all Holders of its intention to effect such Piggyback
Registration and, subject to the terms of Section 2(b) and Section 2(c), will include in such Piggyback Registration (and in all related registrations or qualifications under blue sky laws and in
any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within twenty (20) days after delivery of the Company’s notice. Each Holder may withdraw its request
for inclusion at any time prior to executing the underwriting agreement, or if none, prior to the applicable registration statement becoming effective. 

  
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 (b) Priority on Primary Registrations. If a Piggyback Registration is an underwritten
primary registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such
offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company will include in such registration (i) first, the securities the Company proposes to sell that, in
the opinion of such underwriters, can be sold without any such adverse effect, (ii) second, the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such
adverse effect, pro rata among the requesting Holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such Holder, and (iii) third, other securities requested to be included in
such registration which, in the opinion of the underwriters, can be sold without any such adverse effect. 
 (c) Priority on Secondary
Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of the Company’s equity securities (other than pursuant to Section 1 hereof), and the managing underwriters
advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price,
timing or method of distribution of the offering, the Company will include in such registration (i) first, the securities requested to be included therein by the holders initially requesting such registration which, in the opinion of the
underwriters, can be sold without any such adverse effect, (ii) second, the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect,
pro rata among the Holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such Holder, and (iii) third, other securities requested to be included in such registration which, in the
opinion of the underwriters, can be sold without any such adverse effect. 
 (d) Right to Terminate Registration. The Company will
have the right to terminate or withdraw any registration initiated by it under this Section 2, whether or not any holder of Registrable Securities has elected to include securities in such registration. 

(e) Selection of Underwriters. If any Piggyback Registration is an underwritten offering, the selection of the legal counsel, the
investment banker(s) and manager(s) of the Company for the offering shall be approved by the Holders of a majority of all Registrable Securities then outstanding (the “Majority Holders”), which approval shall not be unreasonably
withheld, conditioned or delayed. 

  
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 Section 3 Registration Procedures. 

(a) Company Obligations. Whenever the Holders have requested that any Registrable Securities be registered pursuant to this Agreement
or have initiated a Shelf Offering, the Company will use its best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company will as
expeditiously as possible: 
 (i) prepare and file with (or submit confidentially to) the SEC a registration statement, and
all amendments and supplements thereto and related prospectuses, with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, all in accordance with the Securities Act and all
applicable rules and regulations promulgated thereunder (provided that before filing or confidentially submitting a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by
the relevant Holder covered by such registration statement copies of all such documents proposed to be filed or submitted, which documents will be subject to the review and comment of such counsel); 

(ii) notify each Holder of (A) the issuance by the SEC of any stop order suspending the effectiveness of any registration
statement or the initiation of any proceedings for that purpose, (B) the receipt by the Company or its counsel of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or
the initiation or threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement filed hereunder; 

(iii) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of
distribution by the sellers thereof set forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities Act or, if such registration statement relates to an underwritten Public
Offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with sale of Registrable Securities by an underwriter or dealer) and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement; 

(iv) furnish, without charge, to each seller of Registrable Securities thereunder and each underwriter, if any, such number of
copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus) (in each case including all exhibits and documents incorporated by reference
therein), each amendment and supplement thereto, each Free Writing Prospectus and such other documents as such seller or such underwriter, if any, may reasonably request in order to facilitate the disposition of the Registrable Securities owned by
such seller (the Company hereby consenting to the use in accordance with all applicable laws of each such registration statement, each such amendment and supplement thereto, and each such prospectus (or preliminary prospectus or supplement thereto)
or Free Writing Prospectus by each such seller of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus); 

  
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 (v) use its best efforts to register or qualify such Registrable Securities
under such other securities or blue sky laws of such jurisdictions as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such
jurisdictions of the Registrable Securities owned by such seller (provided that the Company will not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this
Section 3(a)(v) or (B) consent to general service of process in any such jurisdiction or (C) subject itself to taxation in any such jurisdiction); 

(vi) notify in writing each seller of such Registrable Securities (A) promptly after it receives notice thereof, of the
date and time when such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or
qualification has become effective under a state securities or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof, of any comment or request by the SEC for the amendment or supplementing of such
registration statement or prospectus or for additional information, and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event or of any information or
circumstances as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, subject to
Section 1(f), if required by applicable law or to the extent requested by any such seller, the Company will use its best efforts to promptly prepare and file a supplement or amendment to such prospectus so that, as
thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading and (D) if at any
time the representations and warranties of the Company in any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct; 

(vii) (A) use best efforts to cause all such Registrable Securities to be listed on each securities exchange on which similar
securities issued by the Company are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the foregoing, to arrange for at least two market markers to register as such with respect to such
Registrable Securities with FINRA, and (B) comply (and continue to comply) with the requirements of any self-regulatory organization applicable to the Company, including without limitation all corporate governance requirements; 

(viii) cooperate with each Holder and each underwriter or agent participating in the disposition of Registrable Securities and
their respective counsel in connection with any filings required to be made by FINRA; 

  
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 (ix) use best efforts to provide a transfer agent and registrar for all such
Registrable Securities not later than the effective date of such registration statement; 
 (x) enter into and perform such
customary agreements (including, as applicable, underwriting agreements in customary form) and take all such other actions as the holders of the majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in
order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, making available the executive officers of the Company and participating in “road shows,” investor presentations, marketing
events and other selling efforts and effecting a share split or combination, recapitalization or reorganization); 
 (xi)
make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition or sale pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or
underwriter, all financial and other records, pertinent corporate and business documents and properties of the Company as will be necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers,
directors, employees, agents, representatives and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement and the
disposition of such Registrable Securities pursuant thereto; 
 (xii) take all actions to ensure that any Free-Writing
Prospectus utilized in connection with any Demand Registration or Piggyback Registration or Shelf Offering hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required
thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, prospectus supplement and related documents, will not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; 

(xiii) comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as
reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the registration statement, which
earnings statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 
 (xiv)
permit any Holder which in its sole and exclusive judgment, might be deemed to be an underwriter or a controlling person of the Company, to participate in the preparation of such registration or comparable statement and to allow such Holder to
provide language for insertion therein, in form and substance satisfactory to the Company, which in the reasonable judgment of such Holder and its counsel should be included; 

  
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 (xv) use best efforts to (A) make Short-Form Registration available for
the sale of Registrable Securities and (B) prevent the issuance of any stop order suspending the effectiveness of a registration statement, or the issuance of any order suspending or preventing the use of any related prospectus or suspending
the qualification of any Common Equity included in such registration statement for sale in any jurisdiction, and in the event any such order is issued, use best efforts to obtain promptly the withdrawal of such order; 

(xvi) use its best efforts to cause such Registrable Securities covered by such registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities; 

(xvii) cooperate with the Holders covered by the registration statement and the managing underwriter or agent, if any, to
facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends (or arrange for book entry transfer of securities in the case of uncertificated securities), and
enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriter, or agent, if any, or such Holders may request; 

(xviii) if requested by any managing underwriter, include in any prospectus or prospectus supplement updated financial or
business information for the Company’s most recent period or current quarterly period (including estimated results or ranges of results) if required for purposes of marketing the offering in the view of the managing underwriter; 

(xix) take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however,
that to the extent that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable; 

(xx) cooperate with each Holder covered by the registration statement and each underwriter or agent participating in the
disposition of such Registrable Securities and their respective counsel in connection with the preparation and filing of applications, notices, registrations and responses to requests for additional information with FINRA, the New York Stock
Exchange, Nasdaq or any other national securities exchange on which the shares of Common Equity are or are to be listed, and to the extent required by the rules and regulations of FINRA, retain a Qualified Independent Underwriter acceptable to the
managing underwriter; 
 (xxi) in the case of any underwritten offering, use its best efforts to obtain, and deliver
to the underwriter(s), in the manner and to the extent provided for in the applicable underwriting agreement, one or more cold comfort letters from the Company’s independent public accountants in customary form and covering such matters of the
type customarily covered by cold comfort letters; 

  
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 (xxii) use its best efforts to provide (A) a legal opinion of the
Company’s outside counsel, dated the effective date of such registration statement addressed to the Company, (B) on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a Demand
Registration or Shelf Offering, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the closing date of the applicable sale, (1) one or more legal opinions of the
Company’s outside counsel, dated such date, in form and substance as customarily given to underwriters in an underwritten public offering or, in the case of a non-underwritten offering, to the broker,
placement agent or other agent of the Holders assisting in the sale of the Registrable Securities and (2) one or more “negative assurances letters” of the Company’s outside counsel, dated such date, in form and substance as is
customarily given to underwriters in an underwritten public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the
Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting
in the sale of the Registrable Securities and (3) customary certificates executed by authorized officers of the Company as may be requested by any Holder or any underwriter of such Registrable Securities; 

(xxiii) if the Company files an Automatic Shelf Registration Statement covering any Registrable Securities, use its best
efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which such Automatic Shelf Registration Statement is required to remain effective; 

(xxiv) if the Company does not pay the filing fee covering the Registrable Securities at the time an Automatic Shelf
Registration Statement is filed, pay such fee at such time or times as the Registrable Securities are to be sold; and 

(xxv) if the Automatic Shelf Registration Statement has been outstanding for at least three (3) years, at the end of the
third year, refile a new Automatic Shelf Registration Statement covering the Registrable Securities, and, if at any time when the Company is required to re-evaluate its WKSI status the Company determines that
it is not a WKSI, use its best efforts to refile the Shelf Registration Statement on Form F-3 and, if such form is not available, Form F-1 and keep such registration
statement effective during the period during which such registration statement is required to be kept effective. 
 (b) Officer
Obligations. Each Holder that is an officer of the Company agrees that if and for so long as he or she is employed by the Company or any Subsidiary thereof, he or she will participate fully in the sale process in a manner customary for persons
in like positions and consistent with his or her other duties with the Company, including the preparation of the registration statement and the preparation and presentation of any road shows (including taking such actions as set forth in
Section 3(a)(x)). 
 (c) Automatic Shelf Registration Statements. If the Company files any Automatic Shelf
Registration Statement for the benefit of the holders of any of its securities other than the Holders, and none of the Holders requests that its Registrable Securities be included in such Shelf Registration Statement, the Company agrees that, at the
request of any Holder, it will include in such Automatic Shelf Registration Statement such disclosures as may be required by Rule 430B in order to ensure that such Holder may be added to such Shelf Registration Statement at a later time through the
filing of a prospectus supplement rather than a post-effective amendment. If the Company has filed any Automatic Shelf Registration Statement for the benefit of the holders of any of its securities other than the Holders, the Company shall, at the
request of any Holder, file any post-effective amendments necessary to include therein all disclosure and language necessary to ensure that the Holders of Registrable Securities may be added to such Shelf Registration Statement. 

  
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 (d) Additional Information. If any registration is being effected as to any
Registrable Securities, the Company may require each seller of Registrable Securities to furnish the Company such information regarding such seller and the distribution of such securities as the Company may from time to time reasonably request in
writing, as a condition to such seller’s participation in such registration. 
 (e) In-Kind
Distributions. If any Holder (and/or any of its Affiliates) seeks to effectuate an in-kind distribution of all or part of their Registrable Securities to its respective direct or indirect equityholders,
the Company will work with the foregoing Persons to facilitate such in-kind distribution in the manner reasonably requested and consistent with the Company’s obligations under the Securities Act. 

(f) Suspended Distributions. Each Person participating in a registration hereunder agrees that, upon receipt of any notice from
the Company of the happening of any event of the kind described in Section 3(a)(vi), such Person will immediately discontinue the disposition of its Registrable Securities pursuant to the registration statement until such
Person’s receipt of the copies of a supplemented or amended prospectus as contemplated by Section 3(a)(vi), subject to the Company’s compliance with its obligations under
Section 3(a)(vi). 
 (g) Registerable Securities Transactions. If requested by any Holder in connection
with any transaction involving any Registrable Securities (including any sale or other transfer of such securities without registration under the Securities Act, any margin loan with respect to such securities and any pledge of such securities), the
Company agrees to provide such Holder with customary and reasonable assistance to facilitate such transaction, including, without limitation, (i) such action as such Holder may reasonably request from time to time to enable such Holder to sell
Registrable Securities without registration under the Securities Act and (ii) entering into an “issuer’s agreement” in connection with any margin loan with respect to such securities in customary form. 

(h) Other. To the extent that any of the Holders is or may be deemed to be an “underwriter” of Registrable Securities
pursuant to any SEC comments or policies, the Company agrees that (i) the indemnification and contribution provisions contained in Section 5 shall be applicable to the benefit of such Holder in their role as an
underwriter or deemed underwriter in addition to their capacity as a Holder and (ii) such Holder shall be entitled to conduct the due diligence which they would normally conduct in connection with an offering of securities registered under the
Securities Act, including without limitation receipt of customary opinions and comfort letters addressed to such Holder. 

  
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 Section 4 Registration Expenses. 

Except as expressly provided herein, all out-of-pocket
expenses incurred by the Company or the Requesting Holder (or, with respect to any particular Demand Registration, Shelf Offering, Piggyback Registration or Underwritten Block Trade, any Holder that has been the requesting Holder thereof) in
connection with the performance of or compliance with this Agreement and/or in connection with any Demand Registration, Piggyback Registration or Shelf Offering or Underwritten Block Trade, whether or not the same shall become effective, shall be
paid by the Company, including, without limitation: (a) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA, (b) all fees and expenses in connection with
compliance with any securities or “blue sky” laws, (c) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a
form eligible for deposit with The Depository Trust Company or other depositary and of printing prospectuses and Company Free Writing Prospectuses), (d) all fees and disbursements of counsel for the Company and of all independent certified public
accountants of the Company (including the expenses of any special audit and cold comfort letters required by or incident to such performance), (e) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters
so require in accordance with then-customary underwriting practice, (f) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange on which similar securities of the Company are then
listed, (g) all applicable rating agency fees with respect to the Registrable Securities, (h) all fees and disbursements of legal counsel for the Company, (i) all reasonable fees and disbursements of one legal counsel selected by the
selling Holder (which may be the same counsel as selected for the Company) together with any necessary local counsel as may be required by the selling Holder, (j) any fees and disbursements of underwriters customarily paid by issuers or sellers
of securities, (k) all fees and expenses of any special experts or other Persons retained by the Company or the Requesting Holder in connection with any Registration, (l) all of the Company’s internal expenses (including all salaries
and expenses of its officers and employees performing legal or accounting duties) and (m) all expenses related to the “road-show” for any underwritten offering, including all travel, meals and lodging. All such expenses are referred
to herein as “Registration Expenses.” The Company shall not be required to pay (except in the case of a Piggyback Registration in which the Company is selling on its own account), and each Person that sells securities pursuant to a
Demand Registration, Shelf Offering or Piggyback Registration hereunder will bear and pay, all underwriting discounts and commissions and all transfer taxes (if any) attributable to the sale of Registrable Securities on a pro rata basis based on the
number of Registrable Securities or shares included in such Demand Registration, Shelf Offering or Piggyback Registration. 

  
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 Section 5 Indemnification and Contribution. 

(a) By the Company. The Company will indemnify and hold harmless, to the fullest extent permitted by law and without limitation as to
time, each Holder, such Holder’s officers, directors employees, agents, fiduciaries, stockholders, managers, partners, members, affiliates, direct and indirect equityholders, consultants and representatives, and any successors and assigns
thereof, and each Person who controls such holder (within the meaning of the Securities Act) (the “Indemnified Parties”) against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or
proceedings, whether commenced or threatened, and including reasonable attorney fees and expenses) (collectively, “Losses”) caused by, resulting from, arising out of, based upon or related to any of the following (each, a
“Violation”) by the Company: (i) any untrue or alleged untrue statement of material fact contained in (A) any registration statement, prospectus, preliminary prospectus or
Free-Writing Prospectus, or any amendment thereof or supplement thereto or (B) any application or other document or communication (in this Section 5, collectively called an
“application”) executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify any securities covered by such registration under the
“blue sky” or securities laws thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation or alleged violation
by the Company of the Securities Act or any other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any
such registration, qualification or compliance. In addition, the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such Losses.
Notwithstanding the foregoing, the Company will not be liable in any such case to the extent that any such Losses directly result from, arise out of, are based upon, or relate to an untrue statement or omission, made in such registration statement,
any such prospectus, preliminary prospectus or Free-Writing Prospectus or any amendment or supplement thereto, or in any application, in reliance upon, and in conformity with, written information prepared and
furnished in writing to the Company by such Indemnified Party expressly for use therein or by such Indemnified Party’s failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the
Company has furnished such Indemnified Party with a sufficient number of copies of the same. In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors, and each Person who controls such
underwriters (within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the Indemnified Parties or as otherwise agreed to in the underwriting agreement executed in connection with such
underwritten offering. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party and shall survive the transfer of such securities by such
seller. 
 (b) By Holder. In connection with any registration statement in which a Holder is participating, each such Holder will
furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted by law, will indemnify the Company, its
officers, directors, employees, agents and representatives, and each Person who controls the Company (within the meaning of the Securities Act) against any Losses resulting from (as determined by a final and
non-appealable judgment, order or decree of a court of competent jurisdiction) any untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any
amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission was made in reliance
upon, and in conformity with, written information or affidavit prepared and furnished in writing to the Company by such Holder expressly for use therein; provided that the obligation to indemnify will be individual, not joint and several, for
each Holder and will be limited to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such registration statement. 

  
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 (c) Claim Procedure. Any Person entitled to indemnification hereunder will
(i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will impair any Person’s right to indemnification hereunder only
to the extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such
claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the
fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party
and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties will have a right to retain one separate counsel, chosen by the majority of the conflicted indemnified parties involved in the
indemnification and approved by the indemnifying party, at the expense of the indemnifying party. 
 (d) Contribution. If the
indemnification provided for in this Section 5 is held by a court of competent jurisdiction to be unavailable to, or is insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any
Loss referred to herein, then such indemnifying party will contribute to the amounts paid or payable by such indemnified party as a result of such Loss, (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying
party on the one hand and of the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well as any other relevant equitable considerations or (ii) if the allocation provided by clause
(i) of this Section 5(d) is not permitted by applicable law, then in such proportion as is appropriate to reflect not only such relative fault but also the relative benefit of the Company on the one hand and of the
sellers of Registrable Securities and any other sellers participating in the registration statement on the other hand in connection with the statement or omissions which resulted in such Losses, as well as any other relevant equitable
considerations; provided that the maximum amount of liability in respect of such contribution will be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller from
the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party will be determined by reference to, among other things, whether the untrue (or, as applicable
alleged) untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if the contribution pursuant to this Section 5(d) were to be determined by pro rata allocation or
by any other method of allocation that does not take into account such equitable considerations. The amount paid or payable by an indemnified party as a result of the Losses referred to herein will be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

  
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 (e) Release. No indemnifying party will, except with the consent of the indemnified
party, consent to the entry of any judgment or enter into any settlement that does not include as an unconditional term thereof giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or
litigation. 
 (f) Non-exclusive Remedy; Survival. The indemnification
and contribution provided for under this Agreement will be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and its Subsidiaries shall be considered
the indemnitors of first resort in all such circumstances to which this Section 5 applies) and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any
officer, director or controlling Person of such indemnified party and will survive the transfer of Registrable Securities and the termination or expiration of this Agreement. 

Section 6 Cooperation with Underwritten Offerings. No Person may participate in any underwritten registration hereunder unless
such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to
the terms of any over-allotment or “green shoe” option requested by the underwriters; provided that no Holder will be required to sell more than the number of Registrable Securities such Holder has requested to include in such
registration) and (ii) completes, executes and delivers all questionnaires, powers of attorney, stock powers, custody agreements, indemnities, underwriting agreements and other documents and agreements required under the terms of such
underwriting arrangements or as may be reasonably requested by the Company and the lead managing underwriter(s); provided that no Holder included in any underwritten registration shall be required to make any representations or warranties to the
Company or the underwriters, other than customary representations or warranties for minority selling shareholders to make in an underwriting agreement (including with respect to such Holder’s Registrable Securities free and clear of liens or
encumbrances, due authorization and due execution by such Holder, due organization of such Holder and the absence of conflicts with respect to such Holder’s organizational documents, applicable laws and agreements binding upon such Holder, and
not including any representations or warranties in respect of the business of the Company or its subsidiaries or regarding statements of fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or
supplement thereto or any omission of a fact required to be stated therein or necessary to make the statements therein not misleading (except to the extent that such untrue statement or omission was made in reliance upon, and in conformity with,
written information or an affidavit prepared and furnished in writing to the Company by such Holder expressly for use therein) (“Customary Warranties)), or to undertake any indemnification obligations in respect of such representations
or warranties (other than those Customary Warranties), except as otherwise provided in Section 6. To the extent that any such agreement is entered into pursuant to, and consistent with, Section 3
and/or this Section 6, the respective rights and obligations created under such agreement will supersede the respective rights and obligations of the Holders, the Company and the underwriters created thereby with respect to
such registration. 

  
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 Section 7 Subsidiary Public Offering. 

If, after an initial Public Offering of the equity securities of one of its Subsidiaries, the Company distributes securities of such
Subsidiary to its equityholders, then the rights and obligations of the Company pursuant to this Agreement will apply, mutatis mutandis, to such Subsidiary, and the Company will cause such Subsidiary to comply with such Subsidiary’s
obligations under this Agreement as if it were the Company hereunder. 
 Section 8 Assignment of Registration Right. 

(a) Assignment. The right to cause the Company to register Registrable Securities pursuant to this Agreement may be assigned (with all
related obligations) by any Holder to an Affiliate of such Holder or a third party transferee of at least twenty percent (20%) of the Registrable Securities held by such Holder immediately prior to the transfer (the “Assignee
Holder”); provided that (i) the Company is furnished with written notice of the name of such Assignee Holder and the amount of Registrable Securities with respect to which such rights are being transferred, and (ii) such Assignee
Holder delivers to the Company a copy of the Joinder duly executed by such Assignee Holder. Reference to the Holder in this Agreement shall include such Assignee Holder as a right holder, with the rights and obligations of any other Holder and such
Assignee Holder being in proportion to their then respective holding of the Registrable Securities unless otherwise agreed between the transferring Holder and such Assignee Holder. For the avoidance of doubt, depositing Registrable Securities with a
depositary shall not be deemed as a transfer and such depositary shall not be deemed as the Assignee Holder. 
 (b) Legend. Each
certificate (if any) evidencing any Registrable Securities and each certificate issued in exchange for or upon the transfer of any Registrable Securities (unless such Registrable Securities would no longer be Registrable Securities after such
transfer) will be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS SET FORTH IN A REGISTRATION RIGHTS AGREEMENT DATED AS OF JUNE 10, 2022 AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND CERTAIN OF THE
COMPANY’S EQUITYHOLDERS, AS AMENDED. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 

The Company will imprint such legend on certificates evidencing Registrable Securities outstanding prior to the date hereof. The legend set forth above will
be removed from the certificates evidencing any securities that have ceased to be Registrable Securities. 

  
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 Section 9 No Inconsistent Agreements. 

The Company shall not hereafter enter into, and is not currently a party to, any agreement with respect to its securities that is inconsistent
in any material respect with, or superior to, the registration rights granted to the Holders hereunder, including any agreement that would allow any current or future holder of equity securities of the Company to require the Company to include
securities in any registration statement filed by the Company for the Holders hereunder on a basis other than pari passu with, or expressly subordinate to, the registration rights of the Holders hereunder provided. Notwithstanding any other
rights and remedies the Holders may have in respect of the Company pursuant to this Agreement, if the Company enters into any other registration rights or similar agreement with respect to any of its securities that contains provisions that violate
the preceding sentence, the terms and conditions of this Agreement shall immediately be deemed to have been amended without further action by the Company or the Holders, so that the Holders shall be entitled to the benefit of any such more favorable
or less restrictive terms or conditions, as the case may be. 
 Section 10 General Provisions. 

(a) Amendments and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived
only with the prior written consent of the Company and the Bain Investor (or, if the Bain Investor ceases to be a Holder, the Majority Holders). The failure or delay of any Person to enforce any of the provisions of this Agreement will in no way be
construed as a waiver of such provisions and will not affect the right of such Person thereafter to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent to or of any breach or default by any Person in
the performance by that Person of his, her or its obligations under this Agreement will not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that
Person under this Agreement. 
 (b) Remedies. The parties to this Agreement will be entitled to enforce their rights under this
Agreement specifically (without posting a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto agree and
acknowledge that a breach of this Agreement would cause irreparable harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing hereunder, any party will be entitled to
specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement. 

(c) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or
unenforceability will not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as
if such prohibited, invalid, illegal or unenforceable provision had never been contained herein. 

  
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 (d) Entire Agreement. Except as otherwise provided herein, this Agreement contains
the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties hereto, written or oral, which
may have related to the subject matter hereof in any way. 
 (e) Successors and Assigns. Except as otherwise provided herein, this
Agreement will bind and inure to the benefit and be enforceable by the Company and its successors and permitted assigns and the Holders and their respective successors and permitted assigns (whether so expressed or not). 

(f) Notices. Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement will be in
writing and will be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next
Business Day, (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) three (3) Business Days after it is mailed to the recipient by first class mail, return receipt
requested. Such notices, demands and other communications will be sent to the Company at the address specified on the signature page hereto or any Joinder and to any holder, or at such address or to the attention of such other Person as the
recipient party has specified by prior written notice to the sending party. Any party may change such party’s address for receipt of notice by giving prior written notice of the change to the sending party as provided herein. The Company’s
address is: 
 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending
party. 
 (g) Business Days. If any time period for giving notice or taking action hereunder expires on a day that is not a Business
Day, the time period will automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday. 
 (h)
Governing Law. The corporate law of the State of New York will govern all issues and questions concerning the relative rights of the Company and its equityholders. All other issues and questions concerning the construction, validity,
interpretation and enforcement of this Agreement and the exhibits and schedules hereto will be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the internal law of the State of New York
will control the interpretation and construction of this Agreement (and all schedules and exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would
ordinarily apply. 
 (i) MUTUAL WAIVER OF JURY TRIAL. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO
ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS
CONTEMPLATED HEREBY. 

  
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 (j) CONSENT TO JURISDICTION AND SERVICE OF PROCESS. EACH OF THE PARTIES IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW YORK, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED
AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH ABOVE WILL BE
EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF
VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW YORK, AND HEREBY AND THEREBY FURTHER
IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(k) No Recourse. Notwithstanding anything to the contrary in this Agreement, the Company and each Holder agrees and acknowledges that
no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, will be had against any current or future director, officer, employee, general or limited partner or member of any Holder or any Affiliate
or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability
whatsoever will attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any current or future member of any Holder or any current or future director, officer, employee, partner or member
of any Holder or of any Affiliate or assignee thereof, as such for any obligation of any Holder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of
such obligations or their creation. 
 (l) Descriptive Headings; Interpretation. The descriptive headings of this Agreement are
inserted for convenience only and do not constitute a part of this Agreement. The use of the word “including” in this Agreement will be by way of example rather than by limitation. 

(m) No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction will be applied against any party. 

  
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 (n) Counterparts. This Agreement may be executed in multiple counterparts, any one of
which need not contain the signature of more than one party, but all such counterparts taken together will constitute one and the same agreement. 

(o) Electronic Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in
connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a
facsimile machine or electronic mail will be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in
person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto will re-execute original forms thereof and deliver them to all other parties. No party
hereto or to any such agreement or instrument will raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a
facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

(p) Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Holder agrees to execute and
deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and the transactions contemplated hereby. 

(q) Termination. The rights of any particular Holder to require the Company to register securities under
Section 1 shall terminate with respect to such Holder when such Holder no longer holds any Registrable Securities. 

(r) Dividends, Recapitalizations, Etc. If at any time or from time to time there is any change in the capital structure of the Company
by way of a share split, share dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment will be made in the provisions hereof so that the rights
and privileges granted hereby will continue. 
 (s) No Third-Party Beneficiaries. Other than as provided in
Section 6, no term or provision of this Agreement is intended to be, or shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder, except as
otherwise expressly provided herein. 
 (t) Current Public Information. At all times after the Company has filed a registration
statement with the SEC pursuant to the requirements of either the Securities Act or the Exchange Act, the Company will file all reports required to be filed by it under the Securities Act and the Exchange Act and will take such further action as any
Holder may reasonably request, all to the extent required to enable such Holder to sell Registrable Securities, unless otherwise agreed by such Holder. 

[Signature pages follow] 

  
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 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	RISE EDUCATION CAYMAN LTD.
		
	By:	 	/s/ Alex Wu
		 	Name: Alex Wu
		 	Title: Acting Chief Financial Officer


  

			
	BAIN CAPITAL RISE EDUCATION IV CAYMAN LIMITED 
		
	By:	 	/s/ Lihong Wang
		 	Name: Lihong Wang
		 	Title: Directors


 [Signature Page to Registration Rights Agreement] 











 EXHIBIT A 

DEFINITIONS 

  












 EXHIBIT B