# EDGAR Filing Document

**Accession Number:** 0001780312
**File Stem:** 0001493152-26-029689
**Filing Date:** 2026-6
**Character Count:** 202209
**Document Hash:** a2f2a3451b8b51c698e3f686bf7766c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-029689.hdr.sgml**: 20260623

**ACCESSION NUMBER**: 0001493152-26-029689

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20260623

**DATE AS OF CHANGE**: 20260623

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AST SpaceMobile, Inc.
- **CENTRAL INDEX KEY:** 0001780312
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATION SERVICES, NEC [4899]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91129
- **FILM NUMBER:** 261108871

**BUSINESS ADDRESS:**
- **STREET 1:** MIDLAND INTL. AIR & SPACE PORT
- **STREET 2:** 2901 ENTERPRISE LANE
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79706
- **BUSINESS PHONE:** 432-276-3966

**MAIL ADDRESS:**
- **STREET 1:** MIDLAND INTL. AIR & SPACE PORT
- **STREET 2:** 2901 ENTERPRISE LANE
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79706

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New Providence Acquisition Corp.
- **DATE OF NAME CHANGE:** 20190620
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avellan Abel Antonio
- **CENTRAL INDEX KEY:** 0001680225

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 2901 ENTERPRISE LANE
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79706

## Ex-9

**Exhibit 9**

MASTER TERMS AND CONDITIONS FOR PREPAID VARIABLE SHARE FORWARD TRANSACTIONS BETWEEN CITIBANK, N.A. AND AA GABLES 2, LLC

The purpose of this Master Terms and Conditions for Prepaid Variable Share Forward Transactions (including the Annexes hereto, the "<u>Master Confirmation</u>"), dated as of June 22, 2026, is to set forth certain terms and conditions for one or more prepaid variable share forward transactions that AA Gables 2, LLC ("<u>Counterparty</u>") will enter into with Citibank, N.A. ("<u>Citibank</u>") from time to time. Each of Citibank and the Counterparty is referred to as a "<u>Party</u>" and together, the "<u>Parties</u>." Each such transaction (a "<u>Transaction</u>") entered into between Citibank and Counterparty that is to be subject to this Master Confirmation shall be evidenced by (i) a supplemental confirmation substantially in the form of <u>Annex A</u> hereto (a "<u>Supplemental Confirmation</u>") and (ii) a Pricing Notice substantially in the form of <u>Annex B</u> hereto (a "<u>Pricing Notice</u>"), with such modifications thereto as to which Counterparty and Citibank mutually agree. This Master Confirmation, a Supplemental Confirmation and any related Pricing Notice together shall constitute a "Confirmation" as referred to in the Agreement specified below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the "<u>Equity Definitions</u>"), as published by the International Swaps and Derivatives Association, Inc. ("<u>ISDA</u>"), are incorporated into this Master Confirmation.

This Master Confirmation, a Supplemental Confirmation and any related Pricing Notice evidence a complete binding agreement between Citibank and Counterparty as to the terms of the Transaction to which this Master Confirmation, such Supplemental Confirmation and such Pricing Notice relate. This Master Confirmation, each Supplemental Confirmation and any related Pricing Notice form a part of, and are subject to an agreement in the form of the ISDA 2002 Master Agreement, as published by ISDA, as if Citibank and Counterparty had executed that agreement on the date hereof (without any Schedule but with the modifications and elections set forth herein, the "<u>Agreement</u>"). All provisions contained in the Agreement govern this Master Confirmation, each Supplemental Confirmation and any related Pricing Notice except as expressly modified herein or in the related Supplemental Confirmation or related Pricing Notice, as the case may be. For the avoidance of doubt, the Transactions under this Master Confirmation shall be the only transactions under the Agreement and shall not be subject to any other (existing or deemed) master agreement to which Citibank and Counterparty are parties.

THIS MASTER CONFIRMATION, EACH SUPPLEMENTAL CONFIRMATION, ANY RELATED PRICING NOTICE AND THE AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CHOICE OF LAW DOCTRINE. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND THERETO OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. NOTHING IN THIS PROVISION SHALL PROHIBIT EITHER PARTY FROM BRINGING AN ACTION TO ENFORCE A MONEY JUDGMENT IN ANY OTHER JURISDICTION.

If, in relation to any Transaction to which this Master Confirmation, a Supplemental Confirmation and any related Pricing Notice relate, there is any inconsistency between the Agreement, this Master Confirmation, such Supplemental Confirmation, such Pricing Notice and the Equity Definitions, the following will prevail for purposes of such Transaction in the order of precedence indicated: (i) such Pricing Notice, (ii) such Supplemental Confirmation; (iii) this Master Confirmation; (iv) the Equity Definitions; and (v) the Agreement.

Each party will make each payment specified in this Master Confirmation, a Supplemental Confirmation or any related Pricing Notice as being payable by such party, not later than the due date for value on that date in the place of the account specified below or otherwise specified in writing, in freely transferable funds and in a manner customary for payments in the required currency.

This Master Confirmation and the Agreement, together with the Supplemental Confirmation and any related Pricing Notice relating to a Transaction, shall constitute the written agreement between Counterparty and Citibank with respect to such Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Set forth below are the general terms and conditions related to the prepaid variable share forward transactions which, together with the terms and conditions set forth in the Supplemental Confirmation and any related Pricing Notice (in respect of the related Transaction), shall govern such Transaction.

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|:---|:---|
| **<u>General Terms:</u>** |  |
| Trade Date: | For each Transaction, as set forth in the related Supplemental Confirmation. |
| Seller: | Counterparty. |
| Buyer: | Citibank. |
| Shares: | The Class A common stock, par value USD 0.0001 per share, of AST SpaceMobile, Inc., a Delaware corporation (the "<u>Issuer</u>") (Exchange symbol "ASTS"), or security entitlements in respect thereof. |
| Units: | Units of limited liability company membership interest in AST & Science, LLC, a Delaware limited liability company (the "<u>Company</u>") designated as "Common Units" under the Fifth Amended and Restated Limited Liability Company Operating Agreement of the Company, dated as of April 6, 2021 (as amended, modified or supplemented from time to time, the "<u>Company LLC Agreement</u>"). |
| Components: | Each Transaction shall be divided into individual Components equal to the Number of Components for such Transaction, each with the terms set forth in this Master Confirmation, the related Supplemental Confirmation and the related Pricing Notice, and in particular with the Number of Shares and Scheduled Valuation Dates set forth in the related Supplemental Confirmation and the related Pricing Notice. The payments and deliveries to be made upon settlement of each Transaction will be determined separately for each Component as if each Component were a separate Transaction under the Agreement. |
| Number of Components | For each Transaction, as specified in the related Supplemental Confirmation. |
| Initial Share Price: | For each Transaction, as set forth in the related Pricing Notice, to be the volume-weighted average price per Share at which Citibank (or any of its affiliates) establishes its initial hedge of the equity price risk undertaken by Citibank with respect to such Transaction in amounts and at times determined by Citibank (or an affiliate of Citibank) in its commercially reasonable discretion; <u>provided</u> that Citibank (or the affiliate establishing the Initial Hedge Position) shall use its commercially reasonable efforts to establish the Initial Hedge Position in a manner that does not affect the price of the Shares and its reasonable efforts to comply with all applicable laws, rules and regulations (including the rules and interpretations of applicable self-regulatory organizations) in establishing the Initial Hedge Position. The number of Shares comprising Citibank's initial hedge is referred to herein as the "<u>Initial Hedge Position</u>". |

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|:---|:---|
| Initial Hedging Period: | For each Transaction, the period commencing on the Trade Date and ending on the earlier of the Scheduled Trading Day on which Citibank (or any of its affiliates) finishes establishing the Initial Hedge Position and the Cutoff Date (such earlier date, the "<u>Hedge Completion Date</u>"). If Citibank (or any of its affiliates) does not finish establishing Citibank's Initial Hedge Position in respect of such Transaction by the close of the regular trading session on the Exchange on the Cutoff Date, Citibank shall notify Counterparty in the Pricing Notice that the Number of Shares for such Transaction shall be reduced to such number as the number of Shares for which Citibank (or any of its affiliates) has established its Initial Hedge Position in respect of such Transaction. Promptly following the Hedge Completion Date, Citibank shall deliver the Pricing Notice to Counterparty. |
| Cutoff Date: | For each Transaction, as specified in the related Supplemental Confirmation or such other date as may be agreed by the parties from time to time. |
| Number of Shares: | For each Component of a Transaction, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Prepayment: | Applicable. |
| Prepayment Amount: | For each Transaction, the product of the aggregate Number of Shares for such Transaction, the Initial Share Price and the Prepayment Percentage, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Prepayment Percentage: | For each Transaction, as specified in the related Supplemental Confirmation. |
| Prepayment Date: | For each Transaction, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Variable Obligation: | Applicable. |
| Forward Floor Price: | For each Transaction, the product of the Forward Floor Percentage and the Initial Share Price, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Forward Floor Percentage: | For each Transaction, as specified in the related Supplemental Confirmation. |
| Forward Cap Price: | For each Transaction, the product of the Forward Cap Percentage and the Initial Share Price, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Forward Cap Percentage: | For each Transaction, as specified in the related Supplemental Confirmation. |
| Exchange: | The Nasdaq Global Select Market. |
| Related Exchange(s): | The Nasdaq Stock Market, The New York Stock Exchange and The Chicago Board Options Exchange. |
| Clearance System: | The Depository Trust Company. |

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**<u>Valuation:</u>**

In respect of any Component:

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|:---|:---|
| Valuation Dates: | As set forth in the related Supplemental Confirmation or any related Pricing Notice (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day that is not already a Valuation Date for another Component under any Transaction); <u>provided</u> that, if that date is a Disrupted Day, the Valuation Date for such Component shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day and that is not or is not deemed to be a Valuation Date in respect of any other Component under any Transaction; <u>provided</u>, <u>further</u>, that, if the Valuation Date for any Component has not occurred pursuant to the preceding proviso as of the Final Disruption Date for such Transaction, the Final Disruption Date shall be the Valuation Date for such Component (irrespective of whether such day is a Valuation Date in respect of any other Component) and the Settlement Price for the Final Disruption Date shall be determined by the Calculation Agent in good faith and in a commercially reasonable manner. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Valuation Date, the Calculation Agent may determine that such Valuation Date is a Disrupted Day only in part, in which case (i) the Calculation Agent shall make adjustments to the Number of Shares for the relevant Component for which such day shall be the Valuation Date and shall designate the Scheduled Trading Day determined in the manner described in the immediately preceding sentence as the Valuation Date for the remaining Shares for such Component, and (ii) the Settlement Price for such Disrupted Day shall be determined by the Calculation Agent based on transactions in the Shares on such Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Section 6.6 of the Equity Definitions shall not apply to any Valuation Date. |
| Final Disruption Date: | For each Transaction, as set forth in the related Supplemental Confirmation or any related Pricing Notice. |
| Market Disruption Event: | The definition of "Market Disruption Event" in Section 6.3(a) of the Equity Definitions is hereby amended by replacing the words "at any time during the one-hour period that ends at the relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time" with the words "at any time prior to the scheduled Closing Time on any Scheduled Trading Day that otherwise would be a Valuation Date" and replacing the words "(iii) an Early Closure" with "(iii) an Early Closure that the Calculation Agent determines is material or (iv) a Regulatory Disruption." |
|  | Section 6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the provision following the term "Scheduled Closing Time" in the fourth line thereof. |
| Regulatory Disruption: | Any event that Citibank, in its reasonable discretion, based on the advice of counsel, determines appropriate with regard to any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Citibank, and provided that any such voluntarily adopted policies or procedures have been adopted by Citibank in good faith and are generally applicable in similar situations and applied in a non-discriminatory manner), for Citibank to refrain from or decrease (<u>provided</u> that, in the case of any such policies or procedures, the decrease must be material) any market activity in connection with the relevant Transaction. Whenever a Regulatory Disruption occurs, Citibank shall notify Counterparty in writing (which may be by email) of such occurrence as soon as reasonably practicable under the circumstances and of any Valuation Date(s) affected by it. |

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**<u>Settlement Terms:</u>**

In respect of any Component:

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|:---|:---|
| Settlement Method Election: | Applicable; <u>provided</u> that (a) the same settlement method shall apply to each Component of a Transaction and (b) the settlement method must be the same as the settlement method that applies to any exercise of the "Redemption Right" (as defined in the Company LLC Agreement) with respect to the Collateral Units in preparation for settlement of the relevant Transaction; <u>provided</u>, <u>further</u> that, in respect of any Transaction, if: |

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|:---|
| (i) Counterparty has not, by the fifth Scheduled Trading Day prior to the first Scheduled Valuation Date for such Transaction, delivered to Citibank a copy of its duly executed "Redemption Notice" (as defined in the Company LLC Agreement), as delivered to the Company, specifying a "Redemption Date" (as defined in the Company LLC Agreement) no later than the Scheduled Trading Day immediately preceding the first Scheduled Valuation Date for such Transaction and requesting delivery to the Collateral Account of a number of Shares through the Clearance System that is equal to the aggregate Number of Shares for such Transaction *less* any Collateral Class A Shares credited to the Collateral Account on such day (rounded down to the nearest whole Share), or |
| (ii) Counterparty does not deliver to the Collateral Account a number of Shares through the Clearance System that is equal to the aggregate Number of Shares for such Transaction *less* any Collateral Class A Shares credited to the Collateral Account on such day (rounded down to the nearest whole Share) with respect to which the Representation and Agreement set forth in Section 9.11 of the Equity Definitions would be true and satisfied as of 4:00 P.M. New York City time on the Scheduled Trading Day immediately preceding the first Scheduled Valuation Date for such Transaction, |

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|:---|:---|
|  | then Cash Settlement may apply for such Transaction at Citibank's election, notwithstanding any actual or deemed election by Counterparty to the contrary. |
|  | Citibank shall use commercially reasonable efforts to notify Counterparty in writing (which may be by email) of the conditions to Physical Settlement set forth in clauses (i) and (ii) above no later than the eighth Scheduled Trading Day prior to the first Scheduled Valuation Date for each Transaction. |
|  | Upon any revocation by Counterparty of a redemption notice or delay of the consummation of a redemption settlement (or direct exchange, as the case may be) in accordance with Section 11.1.3 of the Company LLC Agreement, Counterparty shall be deemed to have elected Cash Settlement. |
| Electing Party: | Counterparty. |

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|:---|:---|
| Settlement Method Election Date: | For each Transaction, the date that is ten Scheduled Trading Days before the first Scheduled Valuation Date of any Component of such Transaction. |
| Default Settlement Method: | Physical Settlement. |
| Initial Cash Settlement Payment: | If Cash Settlement is applicable to a Transaction, Counterparty shall pay Citibank the Initial Cash Settlement Amount on the Currency Business Day immediately preceding the first Scheduled Valuation Date. If Counterparty fails to make the foregoing payment when due, Citibank shall be entitled to elect Physical Settlement notwithstanding Counterparty's election. |
| Initial Cash Settlement Amount: | In respect of a Transaction to which Cash Settlement is applicable, an amount in USD equal to (a) the Number of Shares to be Delivered (determined without regard to rounding) *multiplied by* (b) the Settlement Price (where, only for the purposes of the Initial Cash Settlement Amount, the Settlement Price used for the calculation (including of the Number of Shares to be Delivered) shall equal the closing price of the Shares on the Exchange on the Exchange Business Day immediately preceding the date the Initial Cash Settlement Payment is due (or, if no such closing price is available on such day, such closing price shall be a price determined by the Calculation Agent)). |
| Forward Cash Settlement Amount: | In respect of a Transaction to which Cash Settlement is applicable, an amount in USD (which may be positive or negative) equal to (a) the Forward Cash Settlement Amount (as determined under Section 8.5 of the Equity Definitions) *minus* (b)(1) the Initial Cash Settlement Amount *divided by* (2) the Number of Components for such Transaction. |
|  | In lieu of Section 8.4(b) of the Equity Definitions, if the Forward Cash Settlement Amount is a positive number, then Counterparty shall pay to Citibank the Forward Cash Settlement Amount on the relevant Cash Settlement Payment Date; and if the Forward Cash Settlement Amount is a negative number, then Citibank shall pay to Counterparty the absolute value of the Forward Cash Settlement Amount on the relevant Cash Settlement Payment Date. |
| Settlement Currency: | USD (as defined in the 2006 ISDA Definitions). |
| Settlement Price: | The volume-weighted average price per Share on the relevant Valuation Date during the regular trading session for the Exchange on such Valuation Date, as reasonably determined by the Calculation Agent by reference to the Bloomberg Page "ASTS AQR " (or any successor page thereto); <u>provided</u> that, if such price is not so reported for any reason or is, in the Calculation Agent's reasonable discretion, erroneous, a price determined by the Calculation Agent in good faith and a commercially reasonable manner. |
| Settlement Date: | The date that is one Settlement Cycle immediately following the Valuation Date for such Component (or, if such date is not a Clearance System Business Day, the next following Clearance System Business Day). |

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|:---|:---|
| Cash Settlement Payment Date: | The date that is one Settlement Cycle immediately following the Valuation Date for such Component (or, if such date is not a Currency Business Day, the immediately following Currency Business Day). |
| Excess Dividend Amount: | For the avoidance of doubt, all references to the Excess Dividend Amount shall be deleted from Section 8.4(b) and Section 9.2(a)(iii) of the Equity Definitions. |

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**<u>Share Adjustments; Dividend Payments:</u>**

In respect of any Component:

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|:---|:---|
| Method of Adjustment: | Calculation Agent Adjustment; <u>provided</u> that the Equity Definitions shall be amended by replacing the words "diluting or concentrative" in Sections 11.2(a) and 11.2(c) (in two instances) with the word "material" and by adding the words "or the Transactions" after the words "theoretical value of the relevant Shares" in Sections 11.2(a) and 11.2(c); <u>provided</u>, <u>further</u>, that adjustments may be made to account for changes in volatility, expected dividends, stock loan rate and liquidity relative to the relevant Share or the Transaction. |
| Dividend Payments: | If at any time during the period from, but excluding, the Trade Date to, and including, the Valuation Date, an ex-dividend date for a cash dividend or distribution that the Calculation Agent determines is an ordinary cash dividend (an "<u>Ordinary Cash Dividend</u>") occurs with respect to the Shares, Counterparty will make a cash payment to Citibank of an amount of cash equal to the product of (i) the Gross Dividend Amount per Share of such Ordinary Cash Dividend, and (ii) the number of Shares that Citibank and/or its affiliates, as applicable, theoretically would be short in order to hedge the equity price risk of the relevant Component as of the close of the regular trading session on the Exchange on the Exchange Business Day immediately preceding the ex-dividend date for such Ordinary Cash Dividend (each such amount, a "<u>Dividend Payment</u>"). The applicable Dividend Payment shall be made (1) if the corresponding Dividend Payment is actually received by Citibank or the Custodian, as set forth in the second sentence of clause (g) of the Pledge and Security Annex, and (2) otherwise, within three Local Business Days of the date such Ordinary Cash Dividend is paid by the Issuer to holders of Shares. |
|  | Notwithstanding anything to the contrary otherwise herein provided, no dividend or distribution of the type described in Section 11.2(e)(i) or Section 11.2(e)(ii) of the Equity Definitions shall be included in the calculation of any Dividend Payment hereunder. |
| Gross Dividend Amount: | With respect to an Ordinary Cash Dividend, an amount equal to the actual dividend or distribution per Share before withholding or deduction of taxes at the source by or on behalf of any applicable authority having power to tax in respect of such dividend and excluding any imputation or other credits, refunds or deductions granted by any applicable authority having power to tax in respect of such dividend or distribution and any taxes, credits, refunds or benefits imposed, withheld, assessed or levied thereon. |
| Cash Dividend Adjustments: | If at any time during the period from, but excluding, the Trade Date to, and including, the Valuation Date, an ex-dividend date for a cash dividend or distribution (excluding an Ordinary Cash Dividend) occurs with respect to the Shares, then the Calculation Agent will adjust one or more of the Forward Floor Price, the Forward Cap Price, the Number of Shares, or any other variable relevant to the valuation, settlement, payment or other terms of such Component, including requiring Counterparty to make a payment to Citibank, to reflect the impact of such cash dividend or distribution on the theoretical value of such Component. |

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**<u>Extraordinary Events:</u>**

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|:---|:---|
| New Shares: | In the definition of New Shares in Section 12.1(i) of the Equity Definitions, (i) the text in clause (i) thereof shall be deleted in its entirety and replaced with "publicly quoted, traded or listed on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors)," and (ii) the following phrase shall be inserted at the end thereof: "and (iii) in the case of a Merger Event, of an entity or person that is a corporation organized under the laws of the United States, any State thereof or the District of Columbia". |
| Announcement Event: | If (i) an Announcement Date occurs in respect of any event or transaction that would, if consummated, lead to a Merger Event (for purposes of this and related provisions, the definition of Merger Event shall be read with the references therein to "100%" being replaced by "25%" and references to "50%" being replaced by "75%" and without reference to the clause beginning immediately following the definition of Reverse Merger therein to the end of such definition), a Tender Offer, or other acquisition or disposition by Issuer and/or its subsidiaries where the aggregate consideration or value exceeds 35% of the Market Capitalization of Issuer as of the Announcement Date (such other acquisition or disposition, a "<u>Significant Transaction</u>") or (ii) there is a public announcement or statement by Issuer or the Company of an intention to solicit or enter into, or to explore strategic alternatives or other similar undertakings that may include, a Merger Event, Tender Offer or Significant Transaction, or any subsequent announcement or statement of a change to such intention (the occurrence of (i) or (ii), an "<u>Announcement Event</u>"), as determined by the Calculation Agent, then the "Consequences of Announcement Event" set forth below shall apply in respect of such Announcement Event. For purposes of any Transaction, a Significant Transaction shall be an Extraordinary Event. The "<u>Market Capitalization</u>" as of any Announcement Date shall be the arithmetic average of the Settlement Prices for each of the five consecutive Exchange Business Days ending on, and including, the Exchange Business Day immediately preceding such Announcement Date, determined by reference to the definition of "Settlement Price" as if each such Exchange Business Day were a Valuation Date. |
| Announcement Date: | The definition of "Announcement Date" in Section 12.1(l) of the Equity Definitions is hereby amended by (i) adding the words "or a Significant Transaction" immediately following the words "Merger Event" in the second and third lines thereof, (ii) replacing the words "a firm" with the words "a bona fide" in the second and fourth lines thereof, (iii) replacing the word "leads to the" with the words "would, if consummated, lead to a" in the third and the fifth lines thereof, (iv) adding after the words "voting shares" in the fifth line thereof the words ", voting power or Shares", (v) inserting the words "by (x) Issuer, the Company or a subsidiary, affiliate, agent or representative of Issuer or the Company or (y) a Valid Third Party Entity" after the word "announcement" in the second and the fourth lines thereof and (vi) inserting the words ", as determined by the Calculation Agent in its reasonable discretion and in good faith, or any subsequent public announcement of a change to such transaction or intention (including, without limitation, a new announcement, whether or not by the same party, relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuance of, such a transaction or intention)" at the end of each of clauses (i) and (ii) thereof. |

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|:---|:---|
| Valid Third Party Entity: | In respect of any transaction or event, any third party that has a bona fide intent to enter into or consummate such transaction or event (or a subsidiary, affiliate, agent or representative of such a third party), as determined by Calculation Agent, it being understood and agreed that in determining, in a good faith, commercially reasonable manner, whether such third party has such a bona fide intent, the Calculation Agent may take into consideration whether the relevant announcement by such party has had a material economic effect on the Shares and/or options on the Shares. |
| Consequences of Announcement Event: | With respect to any Announcement Event, the Calculation Agent will determine the economic effect of such Announcement Event on the theoretical value of each Component of the Transaction (whether within a commercially reasonable (as determined in good faith by the Calculation Agent) period of time prior to or after the Announcement Event, and including without limitation any change in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or to the Transaction) (i) on or after the relevant Announcement Date or other date of announcement and (ii) on the Valuation Date or any earlier date of termination or cancellation for such Component and if, in the case of clause (i) or (ii), such economic effect is material, (i) the Calculation Agent will adjust the terms of such Component to reflect such economic effect and determine the effective date of such adjustment or (ii) if the Calculation Agent determines, on or after the Announcement Date or other date of announcement, that no adjustment it could make under clause (i) above is likely to produce a commercially reasonable result, notify the parties in writing (which may be by email) that such Component of the Transaction will be terminated, in which case the amount payable upon such termination will be determined by Citibank pursuant to the terms of this Master Confirmation as if such Announcement Event were an Extraordinary Event to which Cancellation and Payment were applicable. For the avoidance of doubt, any such adjustment shall be without prejudice to the application of the provisions set forth in the preceding sentence, "Consequences of Merger Events" and/or "Consequences of Tender Offers" with respect to any other Announcement Date in respect of the same event or transaction, or, if the related Merger Date or Tender Offer Date occurs on or prior to the Valuation Date or earlier date of termination for such Component, with respect to the related Merger Event or Tender Offer; <u>provided</u> that any such adjustment shall be taken into account by the Calculation Agent or the Determining Party, as the case may be, in determining any subsequent adjustment to the terms of the Transaction, or in subsequently determining any Cancellation Amount or an Early Termination Amount, as the case may be, on account of any related Announcement Date, Merger Event or Tender Offer. |
| Consequences of Merger Events: |  |

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|:---|:---|
| (a) Share-for-Share: | Cancellation and Payment. |
| (b) Share-for-Other: | Cancellation and Payment. |
| (c) Share-for-Combined: | Cancellation and Payment. |

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|:---|:---|
| Tender Offer: | Applicable; <u>provided</u>, <u>however</u>, that (i) Section 12.1(d) of the Equity Definitions shall be amended by replacing "10%" in the third line thereof with "20 %", and (ii) the definitions of "Tender Offer" and "Tender Offer Date" in Section 12.1 of the Equity Definitions are each hereby amended by adding after the words "voting shares" the words ", voting power or Shares". |
| Consequences of Tender Offers: |  |

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|:---|:---|
| (a) Share-for-Share: | Modified Calculation Agent Adjustment. |
| (b) Share-for-Other: | Modified Calculation Agent Adjustment. |
| (c) Share-for-Combined: | Modified Calculation Agent Adjustment. |

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| | |
|:---|:---|
| Composition of Combined Consideration: | Not Applicable; <u>provided</u> that, notwithstanding Sections 12.1 and 12.5(b) of the Equity Definitions, to the extent that the composition of the consideration for the relevant Shares pursuant to a Tender Offer or Merger Event could be determined by a holder of the Shares, the Calculation Agent will determine such composition. |
| Nationalization, Insolvency or Delisting: | Cancellation and Payment; <u>provided</u> that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it shall also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange and the Calculation Agent shall make any adjustments it deems reasonably necessary to the terms of the Transaction, as if Modified Calculation Agent Adjustment were applicable to such event. |

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**<u>Additional Disruption Events:</u>**

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| | |
|:---|:---|
| Change in Law: | Applicable; <u>provided</u> that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase "the interpretation" in the third line thereof with the phrase "or announcement or statement of the formal or informal interpretation", (ii) deleting the words "a party to such Transaction" in the fifth line thereof and replacing them with the words "Citibank", (iii) deleting the words "it" and "its" in the seventh line thereof and replacing them with the words "either party" and "such party's", respectively, and (iv) adding the words ", or holding, acquiring or disposing of Shares relating to," after the word "under" in clause (Y) thereof; <u>provided</u>, <u>further</u>, that to the extent any increased cost described in clause (Y) of Section 12.9(a)(ii) of the Equity Definitions is of a type also described in Section 12.9(a)(vi) of the Equity Definitions, then the consequences provided with respect to "Increased Cost of Hedging" in Section 12.9(b)(vi) of the Equity Definitions shall apply; <u>provided</u>, <u>further</u>, that any determination as to whether (i) the adoption of or any change in any applicable law or regulation (including, for the avoidance of doubt and without limitation, (A) any tax law or (B) adoption or promulgation of new regulations authorized or mandated by existing statute) or (ii) the promulgation of or any change in the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law or regulation (including any action taken by a taxing authority), in each case, constitutes a "Change in Law" shall be made without regard to Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the Trade Date. |

---

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| | |
|:---|:---|
| Insolvency Filing: | Applicable. |
| Hedging Disruption: | Applicable; <u>provided</u>, that Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words "to terminate the Transaction", the words "or a portion of the Transaction affected by such Hedging Disruption". |
| Increased Cost of Hedging: | Applicable; <u>provided</u> that: |
|  | (i) Section 12.9(a)(vi) of the Equity Definitions is hereby amended by inserting the following parenthetical immediately following the term "equity price risk" in the fifth line thereof: "(including, for the avoidance of doubt and without limitation, stock price risk and volatility risk)"; and |
|  | (ii) Section 12.9(b)(vi) of the Equity Definitions is hereby amended by inserting the following words immediately following the word "Transaction" in clause (C) thereof: "or, at the option of the Hedging Party, the portion of the Transaction affected by such Increased Cost of Hedging." |
| Loss of Stock Borrow: | Applicable. |

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Maximum Stock Loan Rate: For each Transaction, as set forth in the related Supplemental Confirmation.

Increased Cost of Stock Borrow: Applicable.

Initial Stock Loan Rate: For each Transaction, as set forth in the related Supplemental Confirmation.

Hedging Party: For all applicable Additional Disruption Events, Citibank. In such capacity, Citibank will act in good faith and in a commercially reasonable manner.

---

| | |
|:---|:---|
| Determining Party: | For all applicable Extraordinary Events, Citibank. In such capacity, Citibank will act in good faith and in a commercially reasonable manner. |
| Non-Reliance: | Applicable. |
| Agreements and Acknowledgments Regarding Hedging Activities: | Applicable. |
| Additional Acknowledgments: | Applicable. |

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3. **<u>Calculation Agent:</u>**

Citibank is the Calculation Agent and shall make all calculations, adjustments and determinations required pursuant to a Transaction, and such calculations, adjustments and determinations shall be binding (absent manifest error). Upon a reasonable request from Counterparty, the Calculation Agent shall provide Counterparty with a written explanation describing in reasonable detail any calculation, adjustment or determination made by the Calculation Agent, and shall use commercially reasonable efforts to provide such written explanation within three Business Days from the receipt of such request unless otherwise agreed with Counterparty (including any market data or information from internal sources used in arriving at such calculation, adjustment or determination, but without disclosing the Calculation Agent's proprietary models or any proprietary or confidential information). Upon request by Counterparty, the Calculation Agent shall consult with Counterparty in good faith in connection with any calculation, adjustment or determination hereunder, and shall give due consideration to the views expressed by Counterparty during such consultation; <u>provided</u> that, as a condition to such consultation, Counterparty shall represent to the Calculation Agent in writing that, as of such time, Counterparty is not aware of any material nonpublic information concerning the Shares, the Units or the business, operations or prospects of the Issuer or the Company.

4. **<u>Conditions Precedent:</u>** With respect to each Transaction, Citibank's obligations under such Transaction are subject to the satisfaction or waiver (such waiver to be in writing) by Citibank of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The representations and warranties of Counterparty contained herein, in the Agreement (including as may be modified herein) and in each Credit Support Document shall be true and correct, in all material respects, as of the Trade Date as if made on the Trade Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Counterparty shall have performed all of the covenants and obligations to be performed by Counterparty on or prior to the Trade Date hereunder, under the Agreement (including as may be modified herein) and under each Credit Support Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Counterparty shall have executed and delivered to Citibank the related Supplemental Confirmation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Counterparty and Citibank shall have entered into a collateral account control agreement among Counterparty, Citibank and Citigroup Global Markets Inc. (the "<u>Custodian</u>") (as hereafter amended, modified, supplemented, replaced or amended and restated, the "<u>Control Agreement</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) An issuer agreement among Counterparty, Citibank, Issuer and the Company, in respect of such Transaction (each, as hereafter amended, modified, supplemented, replaced or amended and restated, an "<u>Issuer Agreement</u>", and together with this Master Confirmation, the Agreement, each Supplemental Confirmation, any related Pricing Notice and each Credit Support Document, the "<u>Transaction Documents</u>") shall have been executed and delivered by the parties thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (i) Citibank shall have received proper financing statements (Form UCC-1 or the equivalent) for filing with the Secretary of State of the State of Delaware, or other appropriate filing offices of each jurisdiction as may be reasonably necessary and requested by Citibank prior to the Trade Date, to perfect the security interests purported to be created herein with respect to an aggregate number of (x) Units exchangeable for a number of Shares in the aggregate, and/or (y) Shares credited to the Collateral Account in the aggregate at least equal to the aggregate Number of Shares for all Components for such Transaction *plus* the number of Shares relating to all other Transactions to be outstanding hereunder (such number of Shares and/or Units as of any time of determination, the "<u>Required Amount</u>"), as security for Counterparty's Secured Obligation, and (ii) Counterparty shall have delivered to Citibank or its collateral agent in the manner specified in the Pledge and Security Annex hereto contained in Annex C (the "<u>Pledge and Security Annex</u>") on or prior to the Trade Date (x) a number of Units (such Units, the "<u>Collateral Units</u>") and/or (y) a number of Shares, in an aggregate amount as between clauses (x) and (y) equal to the Required Amount (such Collateral Units and Shares collectively, the "<u>Collateral Securities</u>").

5. **<u>Additional Representations and Warranties:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In connection with this Master Confirmation, each Supplemental Confirmation, any related Pricing Notice and each Transaction hereunder, each party represents and warrants to the other party on the Trade Date of each Transaction that such party is an "accredited investor" as defined in Section 2(a)(15)(ii) of the Securities Act of 1933, as amended (the "<u>Securities Act</u>") and an "eligible contract participant" as such term is defined in the Commodity Exchange Act, as amended, by virtue of being a corporation, partnership, proprietorship, organization, trust or other entity that has total assets exceeding $10,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties intend for this Master Confirmation as supplemented by the relevant Supplemental Confirmation and any related Pricing Notice to constitute "binding commitments" and a "Contract" as described in the letter dated December 14, 1999 submitted by Robert W. Reeder and Alan. L. Beller to Michael Hyatte of the staff of the Securities and Exchange Commission (the "<u>Staff</u>") to which the Staff responded in an interpretive letter dated December 20, 1999 and the letter dated November 30, 2011 submitted by Robert T. Plesnarski and Glen A. Rae to Thomas Kim of the Staff to which the Staff responded in an interpretive letter dated December 1, 2011 (collectively, the "<u>Interpretive Letters</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In respect of each Transaction hereunder, Citibank agrees with Counterparty that its broker-dealer affiliate shall introduce into the public market a quantity of securities of the same class as the Shares equal to the Number of Shares for such Transaction in compliance with paragraphs (f) and (g) of Rule 144 under the Securities Act of 1933, as amended, as interpreted by the Interpretive Letters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Citibank shall use any Shares received upon Physical Settlement of any Transaction solely to close out open short positions created in the course of its hedging activities related to its exposure under such Transaction in compliance with the Interpretive Letters.

6. **<u>Counterparty Representations, Warranties and Agreements:</u>** Counterparty hereby represents and warrants to, and agrees with, Citibank on the Trade Date for each Transaction and any day on which it makes any election in respect of any Transaction (including an election of a Settlement Method) (unless another date or dates are specified below) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Counterparty is not entering into any Transaction hereunder or taking any action hereunder (including any election or deemed election (other than a Rehypothecation Election)) or in connection herewith "on the basis of" (as defined in Rule 10b5-1(b) under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>")), and neither Counterparty nor any of Counterparty's affiliates is aware of, any material nonpublic information concerning the Shares, the Units or the business, operations or prospects of the Issuer or the Company. Counterparty shall be considered to be entering into a Transaction at all times during the Initial Hedging Period. "<u>Material</u>" information for these purposes is used as interpreted under Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Counterparty is not entering into any Transaction or making any election hereunder to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise in violation of applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Counterparty understands and will comply with Counterparty's responsibilities under applicable securities laws in connection with each Transaction hereunder including, but not limited to, the provisions of Section 13 and Section 16 of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Counterparty (A) has not, during the preceding three months, except as set forth in any Form 144 or other notice delivered to Citibank prior to the Trade Date, sold any Shares (or security entitlements in respect thereof); and (B) agrees that Counterparty shall not, without the prior written consent of Citibank, sell any Shares (or security entitlements in respect thereof) prior to the earlier of (i) the Cutoff Date for such Transaction (as set forth in the related Supplemental Confirmation) and (ii) Citibank or its affiliates having sold the full Number of Shares in accordance with the Interpretive Letters. For the purposes of (A) and (B) hereof; (i) Shares shall be deemed to include securities convertible into or exchangeable or exercisable for Shares; (ii) sales shall include hedges (through swaps, options, short sales or otherwise) of any long position in the Shares (or security entitlements in respect thereof) and (iii) sales and hedges by Counterparty shall include those by any person attributable to or aggregated with Counterparty for purposes of Rule 144 under the Securities Act ("<u>Rule 144</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Counterparty does not know or have any reason to believe that the Issuer has not complied with the reporting requirements contained in paragraph (c)(1) of Rule 144.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If Counterparty were to sell on such Trade Date a number of Shares equal to the Number of Shares for such Transaction, such sales would comply with the volume limitations set forth in paragraph (e) of Rule 144.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Counterparty has, on or prior to such Trade Date, transmitted for filing, in the manner contemplated by Rule 144(h), a notice on Form 144 relating to such Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Counterparty has not solicited or arranged for the solicitation of, and will not solicit or arrange for the solicitation of, orders to buy Shares in anticipation of or in connection with any sales of Shares that Citibank or an affiliate of Citibank effects in the public markets in connection with establishing Citibank's Initial Hedge Position with respect to any Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Except as provided herein, Counterparty has not made, will not make, and has not arranged for, any payment to any person in connection with any sales of Shares that Citibank or an affiliate of Citibank effects in the public markets in connection with establishing Citibank's Initial Hedge Position with respect to any Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Counterparty's "holding period" for the Collateral Securities that are "restricted securities" (within the meaning of Rule 144), determined in accordance with Rule 144 is in excess of six months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Parties agree that each Transaction shall be interpreted to comply with the Section 16 Letter and Citibank represents and warrants that the value of the call option embedded in any Transaction will not exceed the value of the put option embedded in any Transaction. As used herein, "<u>Section 16 Letter</u>" means the letter dated April 1, 2019 submitted by Robert Plesnarski and Glen Rae to David Fredrickson of the Staff, to which the Staff responded in an interpretive letter dated April 8, 2019.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Counterparty understands no obligations of Citibank to Counterparty hereunder will be entitled to the benefit of deposit insurance and that such obligations will not be guaranteed by any affiliate of Citibank or any governmental agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Counterparty understands Counterparty's investments in and liabilities in respect of a Transaction hereunder are not readily marketable, and Counterparty is able to bear any loss in connection with such Transaction, including the loss of Counterparty's entire investment in such Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) COUNTERPARTY UNDERSTANDS THAT ANY TRANSACTION HEREUNDER IS SUBJECT TO COMPLEX RISKS WHICH MAY ARISE WITHOUT WARNING AND MAY AT TIMES BE VOLATILE AND THAT LOSSES MAY OCCUR QUICKLY AND IN UNANTICIPATED MAGNITUDE AND IS WILLING TO ACCEPT SUCH TERMS AND CONDITIONS AND ASSUME (FINANCIALLY AND OTHERWISE) SUCH RISKS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Counterparty is entering into each Transaction hereunder for Counterparty's own account and not with a view to transfer, resale or distribution and understands that such Transaction may involve the purchase or sale of a security as defined in the Securities Act and the securities laws of certain states and other jurisdictions, that any such security has not been registered under the Securities Act or the securities laws of any state or other jurisdiction and, therefore, (except for any pledge to Citibank or its affiliates) may not be sold, pledged, hypothecated, transferred or otherwise disposed of unless such security is registered under the Securities Act and any applicable state or other jurisdiction's securities law, or an exemption from registration is available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Counterparty is aware and acknowledges that Citibank, its affiliates or any entity with which Citibank hedges any Transaction hereunder may from time to time take positions in instruments that are identical or economically related to such Transaction or the Shares or have an investment banking or other commercial relationship with the Issuer. In addition, Counterparty acknowledges that the proprietary trading and other activities and transactions of Citibank, its affiliates or any entity with which Citibank hedges any Transaction hereunder, including purchases and sales of the Shares in connection with, or in anticipation of, such Transaction, may affect the trading price of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Upon having knowledge of any changes in such information, Counterparty will use commercially reasonable efforts to promptly inform Citibank of any changes in the information set forth in each of the following sections of this Master Confirmation occurring prior to the last Settlement Date or Cash Settlement Payment Date of any Transaction hereunder: 6(r)-(s), 6(v), 6(w), and 10 hereof; clause (d) of the Pledge and Security Annex; and any information delivered pursuant to "Settlement Method Election" under Section 2 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) For the avoidance of doubt, and without limiting any representation contained in Section 3(a)(iii) of the Agreement, Counterparty represents that the execution, delivery and performance of the Transaction Documents and any other documentation relating to the Agreement to which Counterparty or any of its Affiliates is a party do not violate or conflict with any of the terms or provisions of the Company LLC Agreement (giving effect to the Issuer Agreement) or any stockholders' agreement (including the amended and restated stockholders agreement of the Issuer dated as of June 5, 2024 (as amended, modified or supplemented from time to time, the "<u>Stockholders Agreement</u>")), investment agreement, lock-up agreement, standstill agreement, registration rights agreement, confidentiality agreement or other agreement binding on Counterparty or its Affiliates or affecting Counterparty, its Affiliates or any of their respective assets (including its Shares).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) No Transaction hereunder shall violate, after giving consideration to any applicable waivers or approvals granted by the Issuer or the Company to Counterparty or its Affiliates prior to the Trade Date, any corporate policy of the Issuer or the Company (including, but not limited to, any window period policy) or other rules or regulations of the Issuer or the Company applicable to Counterparty or any of its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Counterparty will promptly notify Citibank of the occurrence of an Event of Default under the Agreement where Counterparty is the Defaulting Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Counterparty is not and will not be insolvent at the time any Transaction hereunder is consummated, and was not and will not be rendered insolvent as a result thereof. At the time of any payment to or for the benefit of Citibank, Counterparty does not intend and will not intend to incur, and does not incur and will not incur, debts that are beyond the ability of Counterparty to pay as they mature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Counterparty is not and, after giving effect to any Transaction contemplated hereby, will not be required to register as an "investment company" as such term is defined in the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) The assets used in connection with the execution, delivery and performance of the Agreement and the Transactions entered into hereunder are not and will not be the assets of (A) an "employee benefit plan" (with the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("<u>ERISA</u>")) subject to Title I of ERISA, (B) a plan described in Section 4975 of the Internal Revenue Code of 1986, as amended (the "<u>Code</u>") to which Section 4975 of the Code applies or (C) an entity whose underlying assets include "plan assets" by reason of Department of Labor regulation section 2510.3-101 (as modified by Section 3(42) of ERISA) or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) So long as any Secured Obligation (as defined in the Pledge and Security Annex) is outstanding, Counterparty will not amend its limited liability company agreement (the "<u>Counterparty LLC Agreement</u>") except in compliance with the terms of the Counterparty LLC Agreement, or fail to comply with any of the provisions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Promptly after, and in any event within one Exchange Business Day of, becoming aware of a Withholding Event, Counterparty shall provide written notice of such Withholding Event to Citibank.

7. **<u>Acknowledgments:</u>** The parties hereto agree and acknowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Citibank is a "financial institution," "swap participant" and "financial participant" within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the United States Code (the "<u>Bankruptcy Code</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Master Confirmation, each Supplemental Confirmation, any related Pricing Notice and each Credit Support Document is (i) a "securities contract," as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder, thereunder or in connection herewith or therewith is a "termination value," "payment amount" or "other transfer obligation" within the meaning of Section 362 of the Bankruptcy Code and a "settlement payment" and "transfer" within the meaning of Section 546 of the Bankruptcy Code, and any cash, securities or other property provided as performance assurance, credit support or collateral with respect to each Transaction is a "margin payment" and "transfer" within the meaning of Section 546 of the Bankruptcy Code, (ii) a "swap agreement," as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder, thereunder or in connection herewith or therewith is a "termination value," "payment amount" or "other transfer obligation" within the meaning of Section 362 of the Bankruptcy Code and a "transfer," as such term is defined in Section 101(54) of the Bankruptcy Code and a "payment or other transfer of property" within the meaning of Sections 362 and 546 of the Bankruptcy Code and constitute "settlement payments" as defined in Section 741(8) of the Bankruptcy Code and (iii) a "master netting agreement" and each of the parties thereto is a "master netting agreement participant", each as defined in the Bankruptcy Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The rights given to Citibank under this Master Confirmation, under each Supplemental Confirmation, under any related Pricing Notice, the Agreement and each Credit Support Document upon the occurrence of an Event of Default with respect to the other party constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values, payment amounts and other transfer obligations under or in connection with a "securities contract" and a "swap agreement" and a "contractual right" under a security agreement or arrangement forming a part of or related to a "securities contract" and a "swap agreement," as such terms are used in Sections 555, 560, 561, 362(b)(6) and 362(b)(17) of the Bankruptcy Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each party is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 362(b)(27), 362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy Code.

8. **<u>Miscellaneous:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer</u>. Notwithstanding any provision of the Agreement to the contrary, (i) Counterparty shall be entitled to pledge all of its rights and interest in any Transaction hereunder to Citibank and (ii) Citibank shall be entitled to assign its rights and obligations hereunder and under any Credit Support Document to make or receive cash payments or deliveries and other related rights to one or more entities that are wholly-owned, directly or indirectly, by Citigroup Inc., or any successor thereto (each, a "<u>Citibank Affiliate</u>"); <u>provided</u> that Counterparty shall have recourse to Citibank in the event of the failure by a Citibank Affiliate to perform any of such obligations hereunder. Notwithstanding the foregoing, recourse to Citibank shall be limited to recoupment of Counterparty's monetary damages and Counterparty hereby waives any right to seek specific performance by Citibank of its obligations hereunder. Such failure after any applicable grace period shall be an Additional Termination Event with the Transaction to which the failure relates as the sole Affected Transaction and Citibank as the sole Affected Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Consent to Recording</u>. Each party (i) consents to the recording of the telephone conversations of trading and marketing personnel of the parties and their affiliates in connection with the Agreement, this Master Confirmation, each Supplemental Confirmation and any related Pricing Notice and (ii) agrees to obtain any necessary consent of, and give notice of such recording to, such personnel of such party and such party's affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Severability; Illegality</u>. If compliance by either party with any provision of a Transaction would be unenforceable or illegal, (i) the parties shall negotiate in good faith to resolve such unenforceability or illegality in a manner that preserves the economic benefits of the transactions contemplated hereby and (ii) the other provisions of such Transaction shall not be invalidated, but shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Waiver of Trial by Jury</u>. EACH OF COUNTERPARTY AND CITIBANK HEREBY IRREVOCABLY WAIVES (ON SUCH PARTY'S OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF SUCH PARTY'S STOCKHOLDERS OR OTHER EQUITY HOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE AGREEMENT, THIS MASTER CONFIRMATION, ANY SUPPLEMENTAL CONFIRMATION, ANY RELATED PRICING NOTICE OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY OR THE ACTIONS OF CITIBANK OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF OR THEREOF.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Confidentiality</u>. Citibank and Counterparty agree that (i) Counterparty is not obligated to Citibank to keep confidential from any and all persons or otherwise limit the use of any element of Citibank's descriptions relating to tax aspects of the Transactions contemplated hereby and any part of the structure necessary to understand those tax aspects, and (ii) Citibank does not assert any claim of proprietary ownership in respect of such descriptions contained herein of the use of any entities, plans or arrangements to give rise to significant U.S. federal income tax benefits for Counterparty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Limit on Beneficial Ownership</u>. Notwithstanding anything to the contrary in the Agreement, this Master Confirmation, any Supplemental Confirmation or any related Pricing Notice, in no event shall Citibank be entitled to receive or Rehypothecate, or shall be deemed to receive or Rehypothecate, any Shares in connection with a Transaction if, immediately upon giving effect to such receipt or Rehypothecation of such Shares, (i) Citibank's Beneficial Ownership would be equal to or greater than 4.9% of the outstanding Shares, (ii) Citibank, or any "affiliate" or "associate" of Citibank, would be an "interested stockholder" of Issuer, as all such terms are defined in Section 203 of the Delaware General Corporation Law or (iii) Citibank, Citibank Group (as defined below) or any person whose ownership position would be aggregated with that of Citibank or Citibank Group (Citibank, Citibank Group or any such person, a "<u>Citibank Person</u>") under any federal, state or local laws, regulations, regulatory orders or organizational documents or contracts of Issuer or the Company that are, in each case, applicable to ownership of Shares ("<u>Applicable Restrictions</u>"), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Citibank Person, or could result in an adverse effect on a Citibank Person, under Applicable Restrictions, as determined by Citibank in its reasonable discretion, and with respect to which such requirements have not been met or the relevant approval has not been received or that would give rise to any consequences under the constitutive documents of Issuer or the Company, or any contract or agreement to which Issuer or the Company is a party, in each case *minus* (y) 1% of the number of Shares outstanding on the date of determination (each of clause (i), (ii) and (iii) above, an "<u>Ownership Limitation</u>"). If any delivery owed to Citibank hereunder is not made, in whole or in part, as a result of an Ownership Limitation, Citibank's right to receive such delivery shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Scheduled Trading Day after, Citibank gives notice to Counterparty that such delivery would not result in any of such Ownership Limitations being breached. "<u>Citibank's Beneficial Ownership</u>" means the "beneficial ownership" (within the meaning of Section 13 of the Exchange Act and the rules promulgated thereunder (collectively, "<u>Section 13</u>")) of Shares, without duplication, by Citibank, together with any of its affiliates or other person subject to aggregation with Citibank under Section 13 for purposes of "beneficial ownership", or by any "group" (within the meaning of Section 13) of which Citibank is or may be deemed to be a part (Citibank and any such affiliates, persons and groups, collectively, "<u>Citibank Group</u>") (or, to the extent that, as a result of a change in law, regulation or interpretation after the date hereof, the equivalent calculation under, if applicable, Section 16 of the Exchange Act and the rules and regulations thereunder results in a higher number, such number). Notwithstanding anything in the Agreement, this Master Confirmation, any Supplemental Confirmation or any related Pricing Notice to the contrary, Citibank (or the Citibank Affiliate designated by Citibank pursuant to Section 8(a) above) shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Shares that Citibank (or such affiliate) is not entitled to receive at any time pursuant to this Section 8(f), until such time as such Shares are delivered pursuant to this Section 8(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Right to Extend</u>. Citibank may divide a Component into additional Components and designate the Valuation Date and the Number of Shares for any Component comprised by such Transaction (and may make corresponding adjustments to the Final Disruption Date for the relevant Transaction) if Citibank determines, in its reasonable discretion, that such further division is necessary or advisable to preserve Citibank's hedging or hedge unwind activity hereunder in light of existing liquidity conditions or to enable Citibank or one of its affiliates to effect transactions in the Shares in connection with its hedging or hedge unwind activity hereunder in a manner that would, including as if Citibank or such an affiliate were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable legal, regulatory or self-regulatory requirements or with related policies and procedures applicable to Citibank; <u>provided</u> that (i) any such voluntarily adopted policies or procedures have been adopted by Citibank in good faith and are generally applicable in similar situations and applied in a non-discriminatory manner, and (ii) nothing in this Section 8(g) shall give Citibank the right to increase the total Number of Shares underlying any Transaction. Upon request by Counterparty, Citibank shall consult with Counterparty in good faith in connection with any determination made under this Section 8(g), and shall give due consideration to the views expressed by Counterparty during such consultation; <u>provided</u> that, as a condition to such consultation, Counterparty shall represent to Citibank in writing that, as of such time, Counterparty is not aware of any material nonpublic information concerning the Shares, the Units or the business, operations or prospects of the Issuer or the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Designation by Citibank</u>. Notwithstanding any other provision in this Master Confirmation to the contrary requiring or allowing Citibank to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Citibank may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or make or receive such payment in cash, and otherwise to perform Citibank's obligations in respect of any Transaction hereunder and any such designee may assume such obligations. Citibank shall be discharged of its obligations to Counterparty solely to the extent of any such performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Agreements regarding the Pricing Notice</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Counterparty accepts and agrees to be bound by the contractual terms and conditions as set forth in the Pricing Notice for each Transaction, absent manifest error. Upon receipt of a Pricing Notice, Counterparty shall promptly execute and return such Pricing Notice to Citibank; <u>provided</u> that Counterparty's failure to so execute and return a Pricing Notice shall not affect the binding nature of such Pricing Notice, and the terms set forth therein shall be binding on Counterparty to the same extent, and with the same force and effect, as if Counterparty had executed a written version of such Pricing Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Counterparty and Citibank agree and acknowledge that (A) the transactions contemplated by this Master Confirmation and each Supplemental Confirmation will be entered into in reliance on the fact that this Master Confirmation, the relevant Supplemental Confirmation and the related Pricing Notice form a single agreement between Counterparty and Citibank, and Citibank would not otherwise enter into such transactions; (B) this Master Confirmation as supplemented by the relevant Supplemental Confirmation is a "qualified financial contract", as such term is defined in Section 5-701(b)(2) of the General Obligations Law of New York (the "<u>General Obligations Law</u>"); (C) the relevant Pricing Notice, regardless of whether such Pricing Notice is transmitted electronically or otherwise, constitutes a "confirmation in writing sufficient to indicate that a contract has been made between the parties" hereto, as set forth in Section 5-701(b)(3)(b) of the General Obligations Law; and (D) this Master Confirmation as supplemented by the relevant Supplemental Confirmation constitutes a prior "written contract", as set forth in Section 5-701(b)(1)(b) of the General Obligations Law, and each party hereto intends and agrees to be bound by this Master Confirmation as supplemented by the relevant Supplemental Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Counterparty and Citibank further agree and acknowledge that this Master Confirmation, as supplemented by the relevant Supplemental Confirmation, constitutes a contract "for the sale or purchase of a security", as set forth in Section 8-113 of the Uniform Commercial Code of New York.

9. **<u>Schedule Provisions:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Credit Support Documents and Credit Support Provider</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The provisions of the Pledge and Security Annex are incorporated by reference herein and constitute a Credit Support Document with respect to Counterparty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Control Agreement and the Issuer Agreement each constitute a Credit Support Document with respect to Counterparty. The Pledge and Security Annex, the Control Agreement and the Issuer Agreement are collectively the "Credit Support Documents".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Automatic Early Termination</u>. Automatic Early Termination will apply to Counterparty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Additional Schedule Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "Specified Transaction" means any transaction (including an agreement with respect to any such transaction) now existing or hereafter entered into between Counterparty and Citibank or an Affiliate of Citibank which is not a Transaction under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The "Cross-Default" provisions of Section 5(a)(vi) will apply to Counterparty and Citibank, with (a) the phrase ", or becoming capable at such time of being declared," deleted from Section 5(a)(vi)(1) of the Agreement, (b) a "Threshold Amount" of with respect to (x) Citibank of three percent of the shareholders' equity of Citibank as of the Trade Date and (y) Counterparty of USD 5,000,000 (or its equivalent in another currency), (c) the following language added to the end of Section 5(a)(vi): "Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (x) the default was caused solely by error or omission of an administrative or operational nature; (y) funds were available to enable the party to make the payment when due; and (z) the payment is made within two Local Business Days of such party's receipt of written notice of its failure to pay." and (d) the term "Specified Indebtedness" having the meaning specified in Section 14 of the Agreement, except that such term shall not include obligations in respect of deposits received in the ordinary course of Citibank's banking business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The "Credit Event Upon Merger" provisions of Section 5(b)(v) will apply to Counterparty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) "Multiple Transaction Payment Netting" will apply for the purpose of Section 2(c) of the Agreement to all Transactions starting from the date of this Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Each of the following shall be an Additional Termination Event with respect to which Counterparty shall be the sole Affected Party and all Transactions hereunder shall be Affected Transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (A)
 Any material provision of any Transaction Document for any reason ceases to be valid, binding
 and enforceable in accordance with its terms, or Counterparty or any controlled Affiliate
 of the foregoing (including Issuer or the Company) shall challenge in writing the enforceability
 of any Transaction Document or shall assert in writing, or engage in any action or inaction
 based on any such assertion, that any material provision of any of the Transaction Document
 has ceased to be or otherwise is not valid, binding and enforceable in accordance with its
 terms, or (B) any breach by Counterparty, Issuer or the Company of any representation, warranty,
 covenant, obligation or other agreement under the Issuer Agreement that would reasonably
 be likely to have an adverse effect on Citibank's rights and remedies hereunder or
 on Counterparty's ability to perform Counterparty's obligations under this Master
 Confirmation, the Agreement, any Supplemental Confirmation, any related Pricing Notice or
 any Transaction and, in the case of this clause (B), only if (x) such breach is capable of
 being cured and (y) the occurrence and continuance of such breach is not within 10 Scheduled
 Trading Days of any Valuation Date hereunder, such breach remains uncured for five (5) Scheduled
 Trading Days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Any
 of the representations and warranties set forth in clause (d) of the Pledge and Security
 Annex, as if made on the relevant date of determination under this provision, shall not be
 true and correct in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The
 submission by Counterparty of any "Redemption Notice" (as defined in the Company
 LLC Agreement) in respect of any Collateral Units without the consent of Citibank or except
 as expressly permitted under this Master Confirmation (including, for the avoidance of doubt,
 in connection with Physical Settlement of a Transaction).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Any
 amendment to the Company LLC Agreement that affects the existence or validity of the continuing
 first priority perfected security interest in and to Counterparty's right, title and
 interest in and to the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Withholding
 by the Company, or any notification by the Company of its intention to withhold, for any
 amount of federal, state, local, or foreign taxes in connection with any transfer of the
 Collateral Units, any redemption of Collateral Units for Shares or with respect to any dividend,
 distribution or redemption proceeds payable to Citibank on the Collateral Units (a " <u>Withholding Event</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Additional Events of Default</u>. It shall be an Event of Default under the Agreement with respect to which Counterparty is the sole Defaulting Party if there occurs at any time (i) a failure of the Collateral to include, as Collateral delivered in accordance with the requirements of the Pledge and Security Annex, for each Transaction hereunder, at least a number of Units and/or Shares equal to the then applicable Required Amount, or (ii) a failure of the security interests granted under the Pledge and Security Annex to constitute valid and perfected security interests in all of the Collateral, subject to no prior or equal lien, and, with respect to any Collateral consisting of securities or security entitlements, as to which Citibank has control, or, in each case, assertion of such by Counterparty in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Agreement to Deliver Documents</u>. Counterparty agrees to deliver the following documents, as applicable, in form and substance satisfactory to Citibank:

---

| | | | |
|:---|:---|:---|:---|
| **Party<br> required to<br> deliver** | **Form/Document/Certificate** | **Date by which**<br> **to be delivered** | **Covered by<br> Section 3(d) Representation** |
| Counterparty | Copies of all organizational documents of Counterparty and, if applicable, any Credit Support Provider | Prior to execution of this Master Confirmation | Yes |
| Counterparty | A copy of a pre-approval email confirmation from the Issuer's general counsel in respect of each Transaction | Prior to execution of each Supplemental Confirmation | Yes |
| Counterparty | A correct, completed and signed Internal Revenue Service Form W-9 (or, upon the request of Citibank, a revised or successor form) and any required attachment thereto. | (i) Upon execution of this Master Confirmation, (ii) prior to the date upon which the Form previously provided becomes invalid; (ii) promptly upon the reasonable request of Citibank in writing; and (iii) promptly upon learning that any such form previously provided by Counterparty has become obsolete, incorrect or invalid. | No |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Tax Documents</u>. Section 4(a)(iii) of the Agreement is hereby amended by adding prior to the existing text: "upon the earlier of learning that any such form or document is required or".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Change of Account</u>. Section 2(b) of the Agreement is hereby amended by the addition of the following after the word "delivery" in the first line thereof: "to another account in the same legal and tax jurisdiction".

10. **<u>Tax Provisions:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Payer Representations</u>: For the purpose of Section 3(e) of the Agreement, Citibank and Counterparty each hereby make the following representation:

It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Section 9(h) of the Agreement or amounts payable hereunder that may be considered to be interest for United States federal income tax purposes) to be made by it to the other party under the Agreement. In making this representation, it may rely on (i) the accuracy of any representations made by the other party pursuant to Section 3(f) and/or Section 3(g) of the Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of the Agreement and the accuracy and effectiveness of any document provided by the other party pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of the Agreement, except that it will not be a breach of this representation where reliance is placed on clause (ii) above and the other party does not deliver a form or document under Section 4(a)(iii) of the Agreement by reason of material prejudice to its legal or commercial position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payee Representations</u>. For the purpose of Section 3(f) of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Citibank makes the following representations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Citibank is a national banking association organized under the laws of the United States and its U.S. taxpayer identification number is 13-5266470. It is "exempt" within the meaning of U.S. Treasury Regulations (the "<u>Regulations</u>") sections 1.6041-3(p) and 1.6049-4(c) from information reporting on Form 1099 and backup withholding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Citibank is a "U.S. person" as that term is used in section 1.1441-4(a)(3)(ii) of the Regulations for U.S. federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Counterparty makes the following representations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Counterparty is a disregarded entity of a United States person for U.S. federal income tax purposes and is organized under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Counterparty is a disregarded entity (for U.S. federal income tax purposes) of a "U.S. person" as that term is used in section 1.1441-4(a)(3)(ii) of Regulations for U.S. federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Foreign Account Tax Compliance Act</u>. The parties agree that the definitions and provisions contained in the ISDA 2012 FATCA Protocol as published by the International Swaps and Derivatives Association, Inc. on August 15, 2012, are incorporated into and apply to the Agreement as if set forth in full herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>HIRE Act Protocol</u>. The parties agree that the definitions and provisions contained in the 2015 Section 871(m) Protocol as published by the International Swaps and Derivatives Association, Inc. are incorporated into and apply to the Agreement as if set forth in full herein. In the event that Counterparty is not an adherent to the 2015 Section 871(m) Protocol, Citibank and Counterparty hereby agree that this Agreement shall be treated as a Covered Master Agreement (as that term is defined in the 2015 Section 871(m) Protocol) and this Agreement shall be deemed to have been amended in accordance with the modifications specified in the Attachment to the 2015 Section 871(m) Protocol.

11. **<u>Additional Definitions and Amendments to Equity Definitions:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "<u>Units Amendment</u>" means, where specified as applicable to a definition or provision, that the following changes shall be made to such definition or provision: (a) all references to "Shares" shall be deleted and replaced with the words "Shares and/or Units, as appropriate"; and (b) all references to "Issuer" shall be deleted and replaced with the words "Issuer or the Company, as appropriate".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The following amendments shall be made to the Equity Definitions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The definition of Potential Adjustment Event in Section 11.2(e) of the Equity Definitions shall be amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the
 Units Amendment shall be applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) 'or'
 shall be deleted where it appears at the end of subsection (vi);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) '.'
 shall be deleted where it appears at the end of subsection (vii) and replaced with ';
 or';

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) the
 following shall be inserted as provision (viii): "(viii) any other event as a result
 of which the Units are exchangeable for fewer or more Units than, and/or any property or
 assets in addition to, or as a whole or partial replacement of, in each case, the number
 of Shares for which the Units are exchangeable prior to such event."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The definitions of "Merger Event", "Tender Offer", "Announcement Date", "Share-for-Share", "Share-for-Other" and "Share-for-Combined" in Section 12.1 of the Equity Definitions shall be amended in accordance with the Units Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The definitions of "Nationalization" and "Insolvency" in Section 12.6 of the Equity Definitions shall be amended in accordance with the Units Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The definition of "Insolvency Filing" in Section 12.9(a)(iv) of the Equity Definitions shall be amended in accordance with the Units Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) For the avoidance of doubt, where a provision is amended by this Section 11 in accordance with the Units Amendment, if the event described in such provision occurs in respect of the Units or the Company, then the consequence of such event shall be interpreted consistently with the Units Amendment and such event.

12. **<u>Single Purpose and Separateness Provisions</u>**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Single Purpose Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Counterparty shall not create, incur, assume or suffer to exist any indebtedness for borrowed money.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Counterparty shall not create, incur, assume or suffer to exist any Lien upon any of its assets, whether now owned or hereafter acquired, other than pursuant to the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Counterparty shall not divide or merge or consolidate with or into, or convey, transfer, lease or otherwise dispose of, whether in one transaction or in a series of transactions, all or substantially all of the property and assets (whether now owned or hereafter acquired) of Counterparty, to any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Counterparty shall not (1) engage in any activity other than (a) entering into and performing its obligations in connection with the Transactions, this Master Confirmation, any Supplemental Confirmation and/or Pricing Notice and the other Transaction Documents, (b) holding the Collateral and settling any Transactions, and activities incidental thereto or otherwise contemplated or permitted by this Master Confirmation, any Supplemental Confirmation and/or Pricing Notice and the other Transaction Documents, or (2) acquire or own any material assets other than the Collateral, proceeds therefrom and property incidental thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Separateness Provisions</u>. Counterparty shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) maintain its own separate books and records and bank accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) at all times conduct its business solely in its own name in a manner not misleading to other persons as to its identity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) file its own tax returns, if any, as required under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) hold all of its assets in its own name and not commingle its assets with assets of any other persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) comply with all organizational formalities necessary to maintain its separate existence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) pay its own liabilities out of its own funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) cause the members, responsible officers, agents and other representatives of Counterparty to act at all times with respect to Counterparty consistently and in furtherance of the foregoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) allocate fairly and reasonably any overhead expenses that are shared with an affiliate, including for services performed by an employee of an affiliate.

13. **<u>No Liability of Members, Managing Members, Officers, Employees or Agents</u>**. The Counterparty is the sole obligor with respect to each Transaction and Citibank, its permitted assignees and successors understand and agree that that no member, managing member, officer, employee or agent of the Counterparty shall have any liabilities, responsibilities or obligations with respect to the performance or compliance of the Counterparty with the terms and conditions of any Transaction or the Transaction Documents and all such liabilities or responsibilities are hereby waived by Citibank, its permitted assignees and successors.

14. **<u>U.S. QFC Mandatory Contractual Requirements:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Limitation on Exercise of Certain Default Rights Related to a Dealer Affiliate's Entry Into Insolvency Proceedings**. Notwithstanding anything to the contrary in this Master Confirmation or any other agreement, the parties hereto expressly acknowledge and agree that subject to Section 14(b), Counterparty shall not be permitted to exercise any Default Right against Citibank with respect to this Master Confirmation or any other Relevant Agreement that is related, directly or indirectly, to a Citibank Affiliate becoming subject to an Insolvency Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **General Creditor Protections**. Nothing in Section 14(a) shall restrict the exercise by Counterparty of any Default Right against Citibank with respect to this Master Confirmation or any other Relevant Agreement that arises as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Citibank becoming subject to an Insolvency Proceeding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Citibank not satisfying a payment or delivery obligation pursuant to (x) this Master Confirmation or any other Relevant Agreement, or (y) another contract between Citibank and Counterparty that gives rise to a Default Right under this Master Confirmation or any other Relevant Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Burden of Proof**. After a Citibank Affiliate has become subject to an Insolvency Proceeding, if Counterparty seeks to exercise any Default Right with respect to this Master Confirmation or any other Relevant Agreement, Counterparty shall have the burden of proof, by clear and convincing evidence, that the exercise of such Default Right is permitted hereunder or thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **General Conditions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Effective Date</u>. The provisions set forth in this Section 14 will come into effect on the later of the Applicable Compliance Date and the date of this Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Prior Adherence to the U.S. Protocol</u>. If Citibank and Counterparty have adhered to the ISDA U.S. Protocol prior to the date of this Master Confirmation, the terms of the ISDA U.S. Protocol shall be incorporated into and form a part of this Master Confirmation and shall replace the terms of this Section 14. For purposes of incorporating the ISDA U.S. Protocol, Citibank shall be deemed to be a Regulated Entity, Counterparty shall be deemed to be an Adhering Party and the Agreement shall be deemed to be a Protocol Covered Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Subsequent Adherence to the U.S. Protocol</u>. If, after the date of this Master Confirmation, both Citibank and Counterparty shall have become adhering parties to the ISDA U.S. Protocol, the terms of the ISDA U.S. Protocol will supersede and replace this Section 14.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Definitions. For the purposes of this Section 14, the following definitions apply:

"<u>Applicable Compliance Date</u>" with respect to this Master Confirmation shall be determined as follows: (a) if Counterparty is an entity subject to the requirements of the QFC Stay Rules, January 1, 2019, (b) if Counterparty is a Financial Counterparty (other than a Small Financial Institution) that is not an entity subject to the requirements of the QFC Stay Rules, July 1, 2019 and (c) if Counterparty is not described in clause (a) or (b), January 1, 2020.

"<u>BHC Affiliate</u>" has the same meaning as the term "affiliate" as defined in, and shall be interpreted in accordance with, 12 U.S.C. 1813(w) and 12 U.S.C. 1841(k).

"<u>Citibank Affiliate</u>" means, with respect to Citibank, a BHC Affiliate of that party.

"<u>Credit Enhancement</u>" means, with respect to this Master Confirmation or any other Relevant Agreement, any credit enhancement or other credit support arrangement in support of the obligations of (i) Citibank or Counterparty hereunder or thereunder or with respect hereto or thereto, including any guarantee or collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

"<u>Default Right</u>" means, with respect to this Master Confirmation (including each Transaction) or any other Relevant Agreement, any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) right of a party, whether contractual or otherwise (including, without limitation, rights incorporated by reference to any other contract, agreement, or document, and rights afforded by statute, civil code, regulation, and common law), to liquidate, terminate, cancel, rescind, or accelerate such agreement or transactions thereunder, set off or net amounts owing in respect thereto (except rights related to same-day payment netting), exercise remedies in respect of collateral or other credit support or property related thereto (including the purchase and sale of property), demand payment or delivery thereunder or in respect thereof (other than a right or operation of a contractual provision arising solely from a change in the value of collateral or margin or a change in the amount of an economic exposure), suspend, delay, or defer payment or performance thereunder, or modify the obligations of a party thereunder, or any similar rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) right or contractual provision that alters the amount of collateral or margin that must be provided with respect to an exposure thereunder, including by altering any initial amount, threshold amount, variation margin, minimum transfer amount, the margin value of collateral, or any similar amount, that entitles a party to demand the return of any collateral or margin transferred by it to the other party or a custodian or that modifies a transferee's right to reuse collateral or margin (if such right previously existed), or any similar rights, in each case, other than a right or operation of a contractual provision arising solely from a change in the value of collateral or margin or a change in the amount of an economic exposure; but

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) solely with respect to Section 14, does not include any right under a contract that allows a party to terminate the contract on demand or at its option at a specified time, or from time to time, without the need to show cause.

"<u>Financial Counterpart</u>y" has the meaning given to such term in, and shall be interpreted in accordance with, 12 C.F.R. 252.81, 12 C.F.R. 382.1 and 12 C.F.R. 47.2.

"<u>Insolvency Proceeding</u>" means a receivership, insolvency, liquidation, resolution, or similar proceeding.

"<u>ISDA U.S. Protocol</u>" means the ISDA 2018 U.S. Resolution Stay Protocol, as published by ISDA on July 31, 2018.

"<u>QFC Stay Rules</u>" means the regulations codified at 12 C.F.R. 252.81–8 (the "<u>Federal Reserve Rule</u>"), 12 C.F.R. 382.1-7 (the "<u>FDIC Rule</u>") and 12 C.F.R. 47.1-8 (the "<u>OCC Rule</u>"), respectively. All references herein to the specific provisions of the Federal Reserve Rule, the FDIC Rule and the OCC Rule shall be construed, with respect to Citibank, to the particular QFC Stay Rule(s) applicable to it.

"<u>Relevant Agreement</u>" means this Master Confirmation (including each Transaction), each Supplemental Confirmation, any related Pricing Notice and any Credit Enhancement relating hereto or thereto.

"<u>Small Financial Institution</u>" has the meaning given to such term in, and shall be interpreted in accordance with, 12 C.F.R. 252.81, 12 C.F.R. 382.1 and 12 C.F.R. 47.2.

15. **<u>Notices:</u>**

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| | |
|:---|:---|
| Addresses for notices or communications to Citibank: | Citibank, N.A.<br> 388 Greenwich Street<br> New York, NY 10013<br> Attn: Equity Derivatives<br> Telephone: 212-723-7310<br> Email: <u>eric.natelson@citi.com</u>,<br> <u>theodore.finkelstein@citi.com</u>,<br> <u>tanish.raghavan@citi.com</u>, <br> <u>eq.us.corporates.middle.office@citi.com</u> |
|  | with a copy to: |
|  | Citibank, N.A.<br> 388 Greenwich Street, 3<sup>rd</sup> Floor<br> New York, NY 10013<br> Attn: Sean Montgomery – Equity Derivatives Operations<br> Telephone: 212-723-5033<br> Email: <u>sean.montgomery@citi.com</u> |
| Addresses for notices or communications to Counterparty: | AA Gables 2, LLC<br> Midland International Air & Space Port <br> 2901 Enterprise Lane Midland, Texas 79706<br> Attn: Abel Avellan<br> Email: aavellan@ast-science.com |

---

16. **<u>Account Details:</u>**

---

| | |
|:---|:---|
| Payments to Citibank: | For any USD payments: |
|  | Citibank, N.A. New York<br> BIC: CITIUS33 (or ABA: 021-000-089)<br> F/O: Citibank New York<br> Beneficiary: 00167679<br> Ref: NY Swap Operations |
| Payments to Counterparty: | To be advised. |

---

Please confirm by signing below that the foregoing correctly sets forth the terms of the agreement between Citibank and Counterparty with respect to any Transaction contemplated by this Master Confirmation and return to us.

---

| | |
|:---|:---|
| Yours sincerely,<br>CITIBANK, N.A. | Yours sincerely,<br>CITIBANK, N.A. |
| By: | /s/ Eric Natelson |
| Name: | Eric Natelson |
| Title: | Authorized Signatory |

---

---

| | |
|:---|:---|
| Confirmed as of the date first above written:<br>AA GABLES 2, LLC<br>By: Abel Avellan, its managing member | Confirmed as of the date first above written:<br>AA GABLES 2, LLC<br>By: Abel Avellan, its managing member |
| By: | /s/ Abel Avellan |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

[Signature Page to Master Confirmation for<br> Prepaid Forward Transactions]

**<u>ANNEX A</u>**

FORM OF SUPPLEMENTAL CONFIRMATION

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| | |
|:---|:---|
| Date: | [_____________], 20[__] |
| To: | AA Gables 2, LLC<br> Midland International Air & Space Port <br> 2901 Enterprise Lane Midland, Texas 79706<br> Attn: Abel Avellan<br> Email: aavellan@ast-science.com |
| From: | Citibank, N.A.<br> 388 Greenwich Street<br> New York, NY 10013<br> Attn: Equity Derivatives |

---

Reference Number: [ ]

The purpose of this Supplemental Confirmation is to confirm the terms and conditions of the Transaction entered into between Citibank, N.A. ("<u>Citibank</u>") and AA Gables 2, LLC ("<u>Counterparty</u>") on the Trade Date specified below. This Supplemental Confirmation is a binding contract between Citibank and Counterparty as of the relevant Trade Date for the Transaction referenced below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Supplemental Confirmation supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of June 22, 2026 between Citibank and Counterparty (as amended and supplemented from time to time, the "<u>Master Confirmation</u>"). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Supplemental Confirmation, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The terms of the Transaction to which this Supplemental Confirmation relates are as follows:

---

| | |
|:---|:---|
| Trade Date: | [___________, 20__] |
| Number of Components: | [__] |
| Number of Shares: | [__] per Component |
| Prepayment Percentage: | [__]% |
| Prepayment Date: | The later of (i) the date falling one Settlement Cycle after the last Scheduled Trading Day of the Initial Hedging Period and (ii) the first Currency Business Day on which all of the conditions specified in Section 4 of the Master Confirmation are satisfied or waived by Citibank (or, if such conditions are first all satisfied or waived after 3:00 p.m., New York time, on a Currency Business Day, the next following Currency Business Day). |
| Forward Floor Percentage: | [___]% |
| Forward Cap Percentage: | [___]% |
| Maximum Stock Loan Rate: | [___] basis points per <u>annum</u> |
| Initial Stock Loan Rate: | [___] basis points per <u>annum</u> |
| Cutoff Date: | [___________, 20__] |

---

For each Component of the Transaction, the Scheduled Valuation Date are as set forth below.

---

| | |
|:---|:---|
| Component Number | Scheduled Valuation Date |
| 1 | [ ] |
| 2 | [ ] |
| 3 | [ ] |
| 4 | [ ] |
| 5 | [ ] |
| 6 | [ ] |
| 7 | [ ] |
| 8 | [ ] |
| 9 | [ ] |
| 10 | [ ] |
| 11 | [ ] |
| 12 | [ ] |
| 13 | [ ] |
| 14 | [ ] |
| 15 | [ ] |
| … | [ ] |

---

Counterparty hereby agrees (a) to check this Supplemental Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Supplemental Confirmation relates by signing this Supplemental Confirmation and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

---

| | |
|:---|:---|
| Yours sincerely,<br>CITIBANK, N.A. | Yours sincerely,<br>CITIBANK, N.A. |
| By: |  |
|  | Authorized Representative |

---

---

| | |
|:---|:---|
| Confirmed as of the date first above written:<br>AA GABLES 2, LLC<br>By: Abel Avellan, its managing member | Confirmed as of the date first above written:<br>AA GABLES 2, LLC<br>By: Abel Avellan, its managing member |
| By: |  |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

Annex A-2

**<u>ANNEX B</u>**

FORM OF PRICING NOTICE

---

| | |
|:---|:---|
| Date: | [_____________], 20[__] |
| To: | AA Gables 2, LLC<br> Midland International Air & Space Port <br> 2901 Enterprise Lane Midland, Texas 79706<br> Attn: Abel Avellan<br> Email: aavellan@ast-science.com |
| From: | Citibank, N.A.<br> 388 Greenwich Street<br> New York, NY 10013<br> Attn: Equity Derivatives |

---

Reference Number: [ ]

The purpose of this Pricing Notice is to confirm the terms and conditions of the Transaction entered into between Citibank, N.A. ("<u>Citibank</u>") and AA Gables 2, LLC ("<u>Counterparty</u>") on the Trade Date specified below. This Pricing Notice is a binding contract between Citibank and Counterparty as of the relevant Trade Date for the Transaction referenced below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Pricing Notice supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of June 22, 2026 between Citibank and Counterparty (as amended and supplemented from time to time, the "<u>Master Confirmation</u>"). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Pricing Notice, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The terms of the Transaction to which this Pricing Notice relates are as follows:

---

| | |
|:---|:---|
| Trade Date: | [___________, 20__] |
| Hedge Completion Date: | [___________, 20__] |
| Prepayment Amount: | USD [_______] |
| Prepayment Date | [___________, 20__] |
| Initial Share Price: | USD [_______] |
| Forward Floor Price: | USD [_______] |
| Forward Cap Price: | USD [_______] |
| Final Disruption Date: | [___________, 20__] |

---

For each Component of the Transaction, the Number of Shares and the Scheduled Valuation Date are as set forth below.

---

| | | |
|:---|:---|:---|
| Component Number | Number of Shares | Scheduled Valuation Date |
| 1 | [ ] | [ ] |
| 2 | [ ] | [ ] |
| 3 | [ ] | [ ] |
| 4 | [ ] | [ ] |
| 5 | [ ] | [ ] |
| 6 | [ ] | [ ] |
| 7 | [ ] | [ ] |
| 8 | [ ] | [ ] |
| 9 | [ ] | [ ] |
| 10 | [ ] | [ ] |
| 11 | [ ] | [ ] |
| 12 | [ ] | [ ] |
| 13 | [ ] | [ ] |
| 14 | [ ] | [ ] |
| 15 | [ ] | [ ] |
| … | [ ] | [ ] |

---

Counterparty hereby agrees (a) to check this Pricing Notice carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Pricing Notice relates by signing this Pricing Notice and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

---

| | |
|:---|:---|
| Yours sincerely,<br>CITIBANK, N.A. | Yours sincerely,<br>CITIBANK, N.A. |
| By: |  |
|  | Authorized Representative |

---

---

| | |
|:---|:---|
| Acknowledged and Confirmed as of the date first above written:<br>AA Gables 2, LLC<br>By: Abel Avellan, its managing member | Acknowledged and Confirmed as of the date first above written:<br>AA Gables 2, LLC<br>By: Abel Avellan, its managing member |
| By: |  |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

Annex B-2

**<u>ANNEX C</u>**

PLEDGE AND SECURITY ANNEX

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Pledge</u>. Counterparty hereby grants Citibank a continuing first priority, perfected security interest in and right of setoff against Counterparty's right, title and interest in and to, or otherwise with respect to, the following property and assets whether now owned or existing or hereafter acquired or arising and regardless of where located (collectively, the "<u>Collateral</u>") as security for the prompt and complete payment and performance when due (whether on an Early Termination Date or otherwise) of all of Counterparty's payment and performance obligations under the Agreement and Transactions governed by the Master Confirmation (the "<u>Secured Obligations</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the
 Collateral Units registered on the books and records of the Company in the name of the Counterparty,
 and denoted on such books and records of the Company by reference to an Issuer Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. any
 Shares delivered in accordance with clause (b) of this Pledge and Security Annex;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. the
 Collateral Account and all cash, instruments, securities and other financial assets (including
 security entitlements) (each as defined in Section 8-102 of the Uniform Commercial Code from
 time to time in effect in the State of New York), including any Collateral Units and any
 Shares (including Shares issued in respect of the redemption, conversion or exchange of the
 Collateral Units (the " <u>Redeemed Class A Shares</u> ", and all such Shares,
 the " <u>Collateral Class A Shares</u> ")) (collectively, the " <u>Collateral Shares</u> "), and any security entitlements in respect thereof, and other funds, property
 or assets from time to time held therein or credited thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. all
 interest, income, proceeds, distributions and collections received or to be received, or
 derived or to be derived, now or any time hereafter (whether before or after the commencement
 of any proceeding under applicable bankruptcy, insolvency or similar law, by or against Counterparty,
 with respect to Counterparty) from or in connection with any of the Collateral (including,
 without limitation, any Redeemed Class A Shares, any shares of capital stock issued by any
 issuer in respect of any Collateral Shares or other securities constituting Collateral or
 any cash, securities or other property distributed in respect of or exchanged for any Collateral
 Shares or other securities constituting Collateral, or into which any such Collateral Shares
 or other securities are converted, in connection with any merger, binding share exchange,
 reclassification of Collateral Shares or similar event or otherwise, and any security entitlements
 in respect of any of the foregoing);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. all
 of Counterparty's right, title and interest in and to the redelivery of any Collateral
 that has been Rehypothecated pursuant to clause (c) below; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. all
 of Counterparty's right, title and interest in and to the Master Confirmation, the
 Agreement and the Transactions.

As used herein, the term "<u>Collateral Account</u>" means that certain securities account No. [______] of Counterparty established and maintained by the Custodian, including any subaccount, substitute, successor or replacement securities or deposit account, or any custodial or other such account in or to which any Collateral is now or hereafter held or credited. Any renumbering of the Collateral Account by the Custodian shall not limit the rights of Citibank hereunder, and, to the extent necessary, such renumbering shall be automatically incorporated into the definition of Collateral Account.

On or promptly after the Hedge Completion Date for any Transaction, if the aggregate Number of Shares as specified in the related Pricing Notice is less than the aggregate of the Collateral Units and Collateral Class A Shares, the Collateral Agent shall release to Counterparty the excess (if any) of (x) the number of the aggregate Collateral Units and Collateral Class A Shares constituting Collateral over (y) the aggregate Number of Shares as specified in the related Pricing Notice. In the event of such release, Citibank will release any Collateral Class A Shares first.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Delivery of Collateral</u>. Counterparty shall deliver (i) all Collateral Units registered on the books and records of the Company in the name of the Counterparty and denoted on such books and records of the Company by reference to the related Issuer Agreement, and a "stop transfer" order reflecting a security interest in favor of Citibank and (ii) all Shares constituting Collateral, in each case registered in the name of The Depository Trust Company (or its successor, "<u>DTC</u>") or its nominee, maintained in the form of book entries on the books of DTC, and allowed to be settled through DTC's regular book-entry settlement services, to the Collateral Account. Citibank may reregister the Collateral Shares and any other Collateral in its name or the name of its nominee at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Rehypothecation</u>. Upon an Event of Default by Counterparty, Citibank shall have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business ("<u>Rehypothecate</u>") any Collateral (other than Collateral in the form of Shares or Units) it holds, free from any claim or right of any nature whatsoever of Counterparty, including any equity or right of redemption by Counterparty; <u>provided</u> that Counterparty may at any time notify Citibank that it is making an election hereunder to permit Rehypothecation with respect to any or all of the Collateral as specified by Counterparty in such election (a "<u>Rehypothecation Election</u>"), in which case Citibank shall be entitled to Rehypothecate such Collateral. Citibank shall satisfy any obligation it may have to return any Rehypothecated Collateral to Counterparty by delivering securities of the same class and issue as such Rehypothecated Collateral, subject to netting and set-off against any obligation of Counterparty to deliver Shares pursuant to this Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Representations</u>. Counterparty represents, on each date on which Counterparty delivers or Citibank otherwise receives Collateral, that (i) Counterparty is the owner of all Collateral free of any lien, security interest, charge, adverse claim, restriction on transfer (other than Existing Transfer Restrictions, as defined in the Issuer Agreement) or other encumbrance, (ii) the Collateral Securities (and any Shares received upon redemption or exchange thereof) are, to Counterparty's actual knowledge, duly authorized, validly existing, fully paid, non-assessable and have a "holding period" (within the meaning of Rule 144) in excess of one year, (iii) the Collateral does not contain any restrictive legend relating to federal or state securities laws or restriction by way of contract or otherwise, except (solely in the case of Collateral Units) in respect of the Existing Transfer Restrictions, (iv) except as set forth in the Issuer Agreement, none of the Collateral is or will be subject to any legal or contractual restriction, or any restriction under the constitutive documents of the Issuer or the Company, (v) Counterparty has the power and authority and has obtained all of the necessary consents and approvals to grant a first priority security interest to Citibank in the Collateral, (vi) upon the delivery of the Collateral Securities as described above and any other Collateral in a manner acceptable to Citibank, Citibank will have a valid and perfected first priority security interest in the Collateral Securities and the other Collateral, (vii) none of Counterparty's entry into this Master Confirmation or Citibank's exercise of any of its rights and remedies under this Master Confirmation will violate or conflict with the terms of any agreement made by or applicable to Counterparty or violate or conflict with any law, rule, policy or order applicable to Counterparty or the Collateral, and (viii) Counterparty has furnished Citibank with copies of all agreements, contracts or instruments that relate to the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Remedies</u>. In addition to the rights granted to a secured party under the Uniform Commercial Code (whether or not in effect in the jurisdiction where such rights are exercised), Citibank shall be entitled to hold the Collateral as collateral to the extent set forth below until the date all of Counterparty's obligations in connection with each Transaction governed by the Master Confirmation, whether absolute or contingent, have been fully performed. If Counterparty defaults on any obligation to Citibank under this Master Confirmation or otherwise, Citibank may exercise all rights with respect to the Collateral, including delivering a "Pledgee Redemption Notice" in respect of Collateral Units pursuant to the Issuer Agreement, selling or liquidating the Collateral (including Collateral Shares and Shares received upon redemption or exchange of Collateral Units) or delivering the Collateral (including Collateral Shares and Shares received upon redemption or exchange of Collateral Units) to securities lenders to satisfy any of Counterparty's obligations to Citibank and set off any amounts payable by Counterparty with respect to any Secured Obligations against any Collateral held by Citibank or the cash equivalent of any Collateral (or any obligation of Citibank to deliver any Collateral to Counterparty), whereupon such Citibank or such transferee shall hold such Collateral absolutely and free from any claim or right of whatsoever kind, including any equity or right of redemption of Counterparty that may be waived or any other right or claim of Counterparty, and Counterparty, to the extent permitted by law, hereby specifically waives all rights of redemption, stay or appraisal that Counterparty has or may have under any law now existing or hereafter adopted. Counterparty acknowledges and agrees that the Collateral may decline speedily in value and the Shares are of a type customarily sold on a recognized market (including on the Exchange, which is a recognized market within the meaning of Section 9-610 of the Uniform Commercial Code as in effect in New York) and, therefore, that Citibank is not required to send any notice of its intention to sell or otherwise dispose of the Collateral hereunder, except any notice that is required under applicable law and cannot be waived (in which case Counterparty agrees that ten days' prior written notice shall be commercially reasonable). Following a default, Citibank may, in its sole and absolute discretion, sell Collateral in such manner and under such circumstances as Citibank may deem necessary or advisable (with Citibank or its affiliate having the right to purchase any or all of the Collateral to be sold) and notwithstanding that a registration statement for all or any of such Collateral has been or could be filed or is not required under the Securities Act. Counterparty acknowledges that such sale shall be deemed to have been made in a commercially reasonable manner, notwithstanding that any such sale may be for a price less than that which might have been obtained had such Collateral been so registered or otherwise publicly sold. Citibank shall apply the Collateral or the net proceeds of any such collection, exercise or sale to the payment or discharge in whole or in part of the Secured Obligations in such order as Citibank shall determine in the exercise of its sole discretion. Counterparty shall remain fully liable to Citibank for any amounts that remain outstanding after Citibank has liquidated and/or sold the Collateral and deducted its reasonable attorney fees and other reasonable costs and expenses incurred in connection therewith, plus interest thereon at the Default Rate (as defined in the Agreement) from the date incurred to the date paid (which shall be Secured Obligations). Counterparty acknowledges that there is no adequate remedy at law for failure by it to comply with the provisions of this Pledge and Security Annex and that such failure would not be adequately compensable in damages, and therefore agrees that its agreements contained in this Pledge and Security Annex may be specifically enforced.

Annex C-2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Voting Rights</u>. Unless an Event of Default or a Termination Event has occurred and is continuing with respect to Counterparty or an Early Termination Date has occurred or been designated as a result of such an Event of Default or Termination Event and, in each case, Citibank has provided the Counterparty notice that it intends to exercise remedies with respect to the Collateral, Counterparty shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral or any part thereof (other than Rehypothecated Collateral).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Distributions</u>. Counterparty shall direct the Company and Issuer (or its transfer agent) to either deliver in accordance with clause (b) above or, in the case of cash, deposit into, or credit to, the Collateral Account, or, in the case of any property or assets other than cash and security entitlements, deliver to Citibank (subject to its reasonable delivery instructions), any Ordinary Cash Dividend, and any other dividend, issuance or distribution paid or distributed on any Collateral, or any securities or security entitlements (in each case, other than Tax Distributions (as defined in the Company LLC Agreement), which the Issuer may pay directly to the Counterparty, and which the Counterparty may retain and/or distribute to its equityholders, from time to time in accordance with the Company LLC Agreement) (x) exchanged for, or delivered upon conversion, of any Collateral in a Merger Event or (y) delivered in respect of any Collateral in connection with a spin-off. With respect to Ordinary Cash Dividends actually received by or on behalf of Citibank, (i) on the date such Ordinary Cash Dividend is paid by the Issuer to holders of Shares, Citibank shall apply the proceeds thereof in full (or, if the proceeds actually received by or on behalf of Citibank are less than the applicable Dividend Payment, partial) satisfaction of Counterparty's obligation to pay the applicable Dividend Payment Amount, and (ii) unless a Potential Event of Default, an Event of Default or a Termination Event has occurred and is continuing with respect to Counterparty or an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to Counterparty, Citibank shall pay over, or cause to be paid over, to Counterparty any Ordinary Cash Dividends made in respect of the Collateral actually received by or on behalf of Citibank solely to the extent the amount received exceeds the corresponding Dividend Payment obligation. Any cash Excluded Distribution which results in a payment obligation by Counterparty to Citibank under this Master Confirmation shall be retained by Citibank in satisfaction of Counterparty's payment obligation under the relevant provision, and any other Excluded Distribution shall be retained by Citibank as Collateral. Any Excluded Distribution, if received by Counterparty, shall promptly be paid or delivered to Citibank in the manner directed by Citibank to be held as Collateral hereunder or to be applied to cover Counterparty's payment obligation under this Master Confirmation, as the case may be, and shall be deemed held in trust for Citibank until so paid or delivered. For purposes of this provision, "<u>Excluded Distribution</u>" shall mean any dividend or other distribution in respect of the Collateral other than the portion of an Ordinary Cash Dividend, if any, that exceeds the corresponding Dividend Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Application for Settlement</u>. Unless Counterparty satisfies Counterparty's payment or delivery obligations under a Transaction through delivery of Shares or cash in USD, as the case may be, not constituting Collateral no later than 10:00 a.m. on the date such delivery is due, Counterparty hereby authorizes Citibank on the applicable Settlement Date to deliver a "Pledgee Redemption Notice" in respect of Collateral Units pursuant to the Issuer Agreement and to apply the Shares received upon such redemption to satisfy Counterparty's delivery obligations, if any, under such Transaction, as if Physical Settlement applied to such Transaction; <u>provided</u> that in no event shall (i) Citibank be required to make such application or (ii) this provision be construed as altering in any way Counterparty's obligations to satisfy all conditions to Physical Settlement under this Master Confirmation. Upon any such delivery, Citibank shall hold such Shares absolutely and free from any claim or right whatsoever (including without limitation any claim or right of Counterparty).

Annex C-3

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Preservation of Collateral</u>. Counterparty will faithfully preserve and protect Citibank's security interest in the Collateral, will defend Citibank's right, title, lien and security interest in and to the Collateral against the claims and demands of all persons whomsoever, and will do all such acts and things and deliver all such documents and instruments, including without limitation further pledges, assignments, account control agreements, financing statements and continuation statements, as Citibank in its sole commercially reasonable discretion may deem necessary or advisable from time to time (and in any event as communicated to Counterparty in writing, which may be by email) in order to preserve, protect and perfect such security interest or to enable Citibank to exercise or enforce its rights with respect to any Collateral. Counterparty hereby irrevocably appoints Citibank as Counterparty's attorney-in-fact for the purpose of taking any action and executing any instrument which Citibank may deem necessary or advisable to accomplish the purposes of the pledge contemplated by this Master Confirmation. Citibank shall exercise reasonable care of the Collateral to the extent required by applicable law and in any event shall be deemed to have exercised reasonable care if it exercises at least the same degree of care as it would exercise with respect to its own property. Except as specified in the preceding sentence, Citibank shall have no duty with respect to the Collateral, including, without limitation, any duty to collect any distributions thereon or enforce or preserve any rights in the Collateral pertaining thereto. Counterparty will not permit any lien, security interest, charge, adverse claim, restriction on transfer or other encumbrance, other than the lien and security interest Counterparty created hereby in favor of Citibank, to exist upon any of the Collateral. Counterparty will not take any action that would limit or adversely affect the ability of Citibank to realize upon its rights in the Collateral. Counterparty will promptly pay when due all taxes, assessments or charges of any nature that are imposed with respect to the Collateral, or income or distributions in respect of the Collateral, upon becoming aware of the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Taxes</u>. Notwithstanding anything to the contrary elsewhere in the Agreement, this Master Confirmation, any Supplemental Confirmation or any related Pricing Notice, all payments and all deliveries of Collateral, or income or distributions in respect of Collateral, pursuant to the Agreement shall be made and the value of any Collateral, or income or distributions in respect of Collateral, shall be calculated net of any and all taxes, levies, imposts, duties, charges, assessments or fees of any nature (including interest, penalties and additions thereto) that are imposed by any government or other taxing authority in respect thereof. Without limiting the foregoing, the first two sentences and last three sentences of Paragraph 13 of Article 4 of the Control Agreement shall apply to the Collateral, with the term "Pledgor" therein being replaced by the term "Counterparty" and term "Securities Intermediary" being replaced by the term "Citibank."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Return of Collateral</u>. When no amounts are or thereafter may become payable or Shares deliverable by Counterparty with respect to any Secured Obligations (except for any potential liability under Section 2(d) of the Agreement), Citibank will return to Counterparty all Collateral, if any. When (x) no amounts are or thereafter may become payable or Shares deliverable by Counterparty with respect to any Secured Obligations relating to a particular Transaction (except for any potential liability under Section 2(d) of the Agreement), (y) no Potential Event of Default, Event of Default or Termination Event has occurred and is continuing with respect to Counterparty and (z) no Early Termination Date has occurred or been designated as the result of such an Event of Default or Termination Event, Citibank will promptly return to Counterparty all Collateral relating to such Transaction.

Annex C-4

## Ex-10

**Exhibit 10**

**[\*\*\*] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED**

SUPPLEMENTAL CONFIRMATION

---

| | |
|:---|:---|
| Date: | June 22, 2026 |
| To: | AA Gables 2, LLC<br> Midland International Air & Space Port<br> 2901 Enterprise Lane Midland, Texas 79706<br> Attn: Abel Avellan<br> Email: aavellan@ast-science.com |
| From: | Citibank, N.A.<br> 388 Greenwich Street<br> New York, NY 10013<br> Attn: Equity Derivatives |

---

Reference Number: [ ]

The purpose of this Supplemental Confirmation is to confirm the terms and conditions of the Transaction entered into between Citibank, N.A. ("<u>Citibank</u>") and AA Gables 2, LLC ("<u>Counterparty</u>") on the Trade Date specified below. This Supplemental Confirmation is a binding contract between Citibank and Counterparty as of the relevant Trade Date for the Transaction referenced below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Supplemental Confirmation supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of June 22, 2026 between Citibank and Counterparty (as amended and supplemented from time to time, the "<u>Master Confirmation</u>"). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Supplemental Confirmation, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The terms of the Transaction to which this Supplemental Confirmation relates are as follows:

---

| | |
|:---|:---|
| Trade Date: | June 22, 2026 |
| Number of Components: | 4 |
| Number of Shares: | 625,000 per Component |
| Prepayment Percentage: | [\*\*\*]% |
| Prepayment Date: | The later of (i) the date falling one Settlement Cycle after the last Scheduled Trading Day of the Initial Hedging Period and (ii) the first Currency Business Day on which all of the conditions specified in Section 4 of the Master Confirmation are satisfied or waived by Citibank (or, if such conditions are first all satisfied or waived after 3:00 p.m., New York time, on a Currency Business Day, the next following Currency Business Day). |
| Forward Floor Percentage: | [\*\*\*]% |
| Forward Cap Percentage: | [\*\*\*]% |
| Maximum Stock Loan Rate: | [\*\*\*] basis points per <u>annum</u> |
| Initial Stock Loan Rate: | [\*\*\*] basis points per <u>annum</u> |
| Cutoff Date: | June 22, 2026 |

---

For each Component of the Transaction, the Scheduled Valuation Date are as set forth below.

---

| | |
|:---|:---|
| Component Number | Scheduled Valuation Date |
| 1 | March 17, 2028 |
| 2 | March 20, 2028 |
| 3 | March 21, 2028 |
| 4 | March 22, 2028 |

---

Counterparty hereby agrees (a) to check this Supplemental Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Supplemental Confirmation relates by signing this Supplemental Confirmation and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

---

| | |
|:---|:---|
| Yours sincerely, | Yours sincerely, |
| CITIBANK, N.A. | CITIBANK, N.A. |
| By: | /s/ Eric Natelson |
|  | Authorized Representative |

---

---

| | |
|:---|:---|
| Confirmed as of the date first above written: | Confirmed as of the date first above written: |
| AA GABLES 2, LLC | AA GABLES 2, LLC |
| By: | Abel Avellan, its managing member |
| By: | /s/ Abel Avellan |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

## Ex-11

**Exhibit 11**

**[\*\*\*] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED**

PRICING NOTICE

---

| | |
|:---|:---|
| Date: | June 22, 2026 |
| To: | AA Gables 2, LLC<br> Midland International Air & Space Port<br> 2901 Enterprise Lane Midland, Texas 79706<br> Attn: Abel Avellan<br> Email: aavellan@ast-science.com |
| From: | Citibank, N.A.<br> 388 Greenwich Street<br> New York, NY 10013<br> Attn: Equity Derivatives |

---

Reference Number: [ ]

The purpose of this Pricing Notice is to confirm the terms and conditions of the Transaction entered into between Citibank, N.A. ("<u>Citibank</u>") and AA Gables 2, LLC ("<u>Counterparty</u>") on the Trade Date specified below. This Pricing Notice is a binding contract between Citibank and Counterparty as of the relevant Trade Date for the Transaction referenced below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Pricing Notice supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of June 22, 2026 between Citibank and Counterparty (as amended and supplemented from time to time, the "<u>Master Confirmation</u>"). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Pricing Notice, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The terms of the Transaction to which this Pricing Notice relates are as follows:

---

| | |
|:---|:---|
| Trade Date: | June 22, 2026 |
| Hedge Completion Date: | June 22, 2026<br>|
| Prepayment Amount: | USD 146,719,296.00 |
| Prepayment Date | June 24, 2026 |
| Initial Share Price: | USD [\*\*\*] |
| Forward Floor Price: | USD 59.5814 |
| Forward Cap Price: | USD 111.7152 |
| Final Disruption Date: | April 3, 2028 |

---

For each Component of the Transaction, the Number of Shares and the Scheduled Valuation Date are as set forth below.

---

| | | |
|:---|:---|:---|
| Component Number | Number of Shares | Scheduled Valuation Date |
| 1 | 625000 | March 17, 2028 |
| 2 | 625000 | March 20, 2028 |
| 3 | 625000 | March 21, 2028 |
| 4 | 625000 | March 22, 2028 |

---

Counterparty hereby agrees (a) to check this Pricing Notice carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Pricing Notice relates by signing this Pricing Notice and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

---

| | |
|:---|:---|
| Yours sincerely, | Yours sincerely, |
| CITIBANK, N.A. | CITIBANK, N.A. |
| By: | /s/ Eric Natelson |
|  | Authorized Representative |

---

---

| | |
|:---|:---|
| Acknowledged and Confirmed as of the date first above written: | Acknowledged and Confirmed as of the date first above written: |
| AA Gables 2, LLC | AA Gables 2, LLC |
| By: | Abel Avellan, its managing member |
| By: | /s/ Abel Avellan |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

## Ex-12

**Exhibit 12**

Issuer Agreement

June 22, 2026

AST SpaceMobile, Inc.

AST & Science, LLC

Midland Intl. Air & Space Port

2901 Enterprise Lane

Midland, Texas 79706

Ladies and Gentlemen:

Reference is made to (i) the Master Confirmation, dated as of June 22, 2026, regarding prepaid variable share forward transactions between AA Gables 2, LLC (the "<u>Counterparty</u>") and Citibank, N.A. ("<u>Pledgee</u>"), as may be amended, modified or supplemented from time to time, together with any supplemental confirmations and trade notifications thereunder (the "<u>Confirmation</u>"), (ii) the Collateral Account Control Agreement, dated as of June 22, 2026, among Pledgee, Counterparty and Citigroup Global Markets Inc., as collateral custodian (the "<u>Custodian</u>"), as may be amended, modified or supplemented from time to time (the "<u>Account Control Agreement</u>," together with the Confirmation, the "<u>Transaction Documents</u>"), (iii) the Fifth Amended and Restated Limited Liability Company Operating Agreement of AST & Science, LLC, dated as of April 6, 2021, as may be amended, modified or supplemented from time to time (the "<u>LLC Agreement</u>"), by and among AST SpaceMobile, Inc. (the "<u>Issuer</u>"), AST & Science, LLC (the "<u>Company</u>") and the holders from time to time of the Company's Units listed on the signature pages to the LLC Agreement as "Members", (iv) the Second Amended and Restated Certificate of Incorporation of the Issuer as may be amended, modified or supplemented from time to time (the "<u>Issuer Charter</u>") and (v) the Bylaws of the Issuer as may be amended, modified or supplemented from time to time (the "<u>Issuer Bylaws</u>" and, together with the Issuer Charter, the "<u>Issuer Organizational Documents</u>"). Capitalized terms used herein and not otherwise defined have the meanings given to such terms in the LLC Agreement.

Pursuant to the terms of the Transaction Documents, as security for Counterparty's obligations to Pledgee under the Transaction Documents, the Counterparty will pledge to Pledgee (i) 2,500,000 common units (the "<u>Common Units</u>") of the Company owned by the Counterparty (the "<u>Pledged Common Units</u>"), and (ii) any shares of Class A common stock, par value $0.0001 per share, of the Issuer (the "<u>Class A Common Stock</u>") issued upon Redemption or Direct Exchange of Pledged Common Units (together with the Pledged Common Units, the "<u>Pledged Collateral</u>") to secure the Counterparty's obligations under the Transaction Documents.

<u>Undertakings of the Issuer</u>

1. The Issuer, in its capacity as issuer of the Class A Common Stock and Class C common stock, par value $0.0001 per share, of the Issuer (the "<u>Class C Common Stock</u>") and as Managing Member of the Company, as the context requires:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Confirms
 that (i) the transactions contemplated by the Transaction Documents, the performance of Counterparty's
 obligations thereunder (including pledging of the Pledged Collateral) and any exercise of
 rights and remedies with respect thereto (the " <u>Transactions</u> "), in each
 case, in accordance with the terms of the Transaction Documents do not violate (u) the Issuer
 Organizational Documents, (w) the LLC Agreement, (x) the Amended and Restated Stockholders'
 Agreement, dated as of June 5, 2024, by and among the Issuer and the other parties from time
 to time party thereto, as may be amended, modified or supplemented from time to time (the
 " <u>Stockholders Agreement</u> "), (y) any other agreement to which the Issuer
 is a party or (z) any trading or corporate policy of the Issuer applicable to the Counterparty
 or any Affiliate of the Counterparty, (ii) the pledging of the Pledged Collateral (prior
 to any foreclosure thereof) in accordance with the terms of the Transaction Documents does
 not constitute an impermissible "transfer" as such term is used in the Issuer
 Charter or a "Transfer" as defined in the LLC Agreement and (iii) it has no objection
 to the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Acknowledges
 that (x) as of the date hereof, the Issuer does not, and (y) the Issuer would not, absent
 a change in law or securities rules, regulations or official interpretations after the date
 hereof, based solely on account of Pledgee's rights and remedies under the Transaction
 Documents following the occurrence of an "Event of Default" (as defined in the
 Transaction Documents) or other exercise of rights and remedies pursuant to the Transaction
 Documents, consider Pledgee or the Custodian to be an "affiliate" of the Issuer
 (within the meaning of Rule 144 (" <u>Rule 144</u> ") under the Securities Act
 of 1933, as amended (the " <u>Securities Act</u> ")).

&nbsp;&nbsp;&nbsp;&nbsp;(c) Shall
 not take any actions that are intended to hinder or delay the exercise of any rights and
 remedies with respect to the Pledged Collateral by Pledgee or Custodian under the Transaction
 Documents. Other than as set forth herein, the Issuer shall not require any opinions of counsel
 or other documents in connection with any sale or transfer of Pledged Collateral in connection
 with the exercise of any such rights and remedies or in connection with the physical settlement
 of one or more "Transactions" (as defined in the Confirmation) under the Transaction
 Documents in accordance with Section ‎2(j) hereof. To the extent reasonably requested
 by Pledgee or Custodian, the Issuer shall cooperate in good faith with the Pledgee and/or
 Custodian in any transfer of Pledged Collateral made pursuant to any exercise by Pledgee
 or Custodian of the rights and remedies under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Confirms
 that each of Pledgee and Custodian is entitled to submit Written Instructions (as defined
 below) and to exercise the Redemption Right at any time after the occurrence of an "Event
 of Default" or "Termination Event" (each as defined in the Transaction
 Documents) under the Transaction Documents or, prior to the occurrence of an "Event
 of Default" or "Termination Event", in connection with the physical settlement
 of one or more "Transactions" (as defined in the Transaction Documents) under
 the Transaction Documents in accordance with Section ‎2(j) hereof.

---

| | |
|:---|:---|
| (e) | Without limiting the foregoing, the Issuer shall not acknowledge or give effect to any transfer restriction on the Pledged Collateral, other than Existing Transfer Restrictions (as defined below), notwithstanding any notice to the contrary by the Counterparty or any other person, and the Issuer shall not take any action that would result in the creation or existence of any transfer restriction on the Pledged Collateral, other than Existing Transfer Restrictions. |
|  | As used herein, "<u>Existing Transfer Restrictions</u>" means transfer restrictions on the Pledged Collateral (i) pursuant to Article 10 of the LLC Agreement (as modified by this Issuer Agreement), (ii) on account of the fact that the Counterparty is an "affiliate" of the Issuer or the Company within the meaning of Rule 144, and (iii) on account of the fact that the Pledged Collateral are "restricted securities" within the meaning of Rule 144, with a holding period for purposes of Rule 144(d) that began no later than April 6, 2021. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(f) Confirms
 that, when issued upon any Redemption or Direct Exchange, the shares of Class A Common Stock
 issued in exchange for the Pledged Common Units will be validly issued, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Confirms
 that upon Redemption or Direct Exchange of any Pledged Common Units, an equivalent number
 of shares of Class C Common Stock will be automatically and without further action on the
 part of the holder thereof, the Pledgee or the Custodian be transferred to the Issuer for
 no consideration in accordance with Section 6.3 of the Issuer Charter in effect on the date
 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Notwithstanding
 anything to the contrary in the LLC Agreement (including, without limitation, the three to
 ten Business Day period referred to in Section 11.1.1 of the LLC Agreement), agrees that,
 with respect to any shares of Class A Common Stock issued upon a Redemption or Direct Exchange
 of Pledged Common Units, it shall cause such shares to be deposited in the facilities of
 The Depository Trust Company (" <u>DTC</u> ") (without any restrictive legends
 or stop transfer orders, and without any deduction, setoff or withholding) not later than
 5:00 p.m. New York City time on the third Business Day immediately following the date on
 which the Company has received the related Pledgee Redemption Notice and shall instruct DTC
 to credit such shares as directed by Pledgee or Custodian in such Pledgee Redemption Notice.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Agrees
 not to resign as Managing Member of the Company unless a successor shall have been appointed
 in accordance with the LLC Agreement and such successor shall have agreed, to assume the
 undertakings of Issuer contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Agrees
 that Share Settlement shall be applicable, and it shall not have any right to elect Cash
 Settlement in connection with any Redemption or Direct Exchange of the Pledged Common Units.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Agrees
 to comply with its obligations under the LLC Agreement, as modified by this Issuer Agreement,
 and to reserve and keep available out of its authorized but unissued Class A Common Stock,
 solely for the purpose of issuance upon a Share Settlement in connection with a Redemption
 or Direct Exchange of the Pledged Common Units, such number of shares of Class A Common Stock
 as shall be issuable upon any such Share Settlement pursuant to a Redemption or Direct Exchange
 of all Pledged Common Units.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Acknowledges,
 represents and warrants that, as of the date of this Issuer Agreement, subject to the terms
 of the LLC Agreement, the Pledged Common Units are currently redeemable by the Counterparty
 for Class A Common Stock on a one (1) for one (1) basis (the " <u>Exchange Ratio</u> ").
 The Issuer agrees to provide Pledgee and Custodian, from time to time, promptly upon Pledgee's
 or Custodian's request, confirmation of the then-current Exchange Ratio.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Agrees
 that, in connection with any Transfer of Pledged Common Units in connection with an exercise
 of Pledgee's rights and remedies under the Transaction Documents, if Pledgee or Custodian
 delivers to the Company a Written Instruction instructing it to give effect to any Transfer
 of Pledged Common Units, then, notwithstanding anything to the contrary in the LLC Agreement
 and without any further condition set forth in the LLC Agreement or otherwise, no consent
 of the Issuer shall be required under Section 8.5 or Section 10.2.1 of the LLC Agreement
 with respect to such Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;(n) [ *Reserved*.]

&nbsp;&nbsp;&nbsp;&nbsp;(o) Approves
 the pledge of the Pledged Common Units pursuant to the Transaction Documents for purposes
 of the LLC Agreement (including pursuant to Section 10.4 of the LLC Agreement, the conditions
 of which are deemed to be satisfied in respect of the pledge of the Pledged Common Units),
 and does not object to and will not dispute the conclusion that none of Section 8.5, Section
 10.2 or Section 10.3 of the LLC Agreement, or any other provision of the LLC Agreement, shall
 apply to such pledge prior to any Transfer of Pledged Common Units in connection with an
 exercise of rights and remedies under the Transaction Documents (it being agreed and acknowledged
 that neither a Redemption nor a Direct Exchange is an impermissible "Transfer"
 for purposes of the LLC Agreement), and, without limiting the generality of the foregoing,
 does not object to and will not dispute the conclusion that none of Pledgee, the Custodian
 or any of their respective affiliates shall be a "Transferee" for purposes of
 the LLC Agreement by virtue of such pledge, and shall not become, be required to become,
 or be deemed to be, a Member of the Company by virtue of or in connection with such pledge,
 in each case except to the extent the Pledged Common Units are Transferred to such entities
 in connection with an exercise of rights and remedies under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Confirms
 that, as of the date of this Issuer Agreement, (x) Counterparty is the sole and lawful owner
 of the Pledged Collateral, and (y) it has not consented to or registered any lien, pledge
 or security interest encumbering the Pledged Collateral on its or the Company's books
 and records, and agrees that, until such time as Pledgee or the Custodian provides notice
 to the Issuer that the Pledgee has released the pledge under the Transaction Documents, it
 shall not consent to or register on its or the Company's books and records any transfer,
 assignment, conveyance, lien, pledge or security interest on the Pledged Common Units without
 the prior written consent of Pledgee and the Custodian. The Issuer hereby further acknowledges
 and confirms to Pledgee and the Custodian that neither the Issuer nor the Company has any
 current claim under the LLC Agreement against: (i) any of the Pledged Collateral or (ii)
 any of the Class A Common Stock that would be issuable in connection with any exercise of
 the Redemption Right with respect to any or all Pledged Common Units. The Issuer hereby represents
 and warrants to Pledgee and the Custodian that the Issuer is unaware of any requirement existing
 on the date of this Issuer Agreement, pursuant to the LLC Agreement or otherwise, for any
 amount to be withheld from or set-off against any Class A Common Stock that would be issuable
 in respect the Pledged Common Units upon exercise of the Redemption Right with respect to
 any of the Pledged Common Units.

&nbsp;&nbsp;&nbsp;&nbsp;(q) Does
 not object to and will not dispute the conclusion that the exercise of the Redemption Right
 in connection with the Transactions and pursuant to this Issuer Agreement shall not be subject
 to the conditions set forth in Section 11.1.6 of the LLC Agreement or Sections 11.1.1.1 or
 11.4.3.1 of the LLC Agreement as related to any liens on the Redeemed Units arising from
 the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Agrees
 not to deduct or withhold any amounts pursuant to Section 6.4 of the LLC Agreement in respect
 of the Pledged Common Units or from the Class A Common Stock delivered upon exercise of the
 Redemption Right with respect to the Pledged Common Units.

<u>Undertakings of the Company and the Issuer (in its capacity as Managing Member of the Company)</u>

2. The
 Company and the Issuer, in its capacity as Managing Member of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Confirms
 that (i) the Transactions, including the pledging of the Pledged Common Units and the exercise
 of rights and remedies with respect thereto, in each case, in accordance with the terms of
 the Transaction Documents do not violate (x) the LLC Agreement, (y) any other agreement to
 which the Company is a party, or (z) any trading or corporate policy of the Issuer and its
 subsidiaries, including the Company applicable to the Counterparty or any Affiliate of the
 Counterparty, (ii) the pledging of the Pledged Collateral (prior to any foreclosure thereof)
 in accordance with the terms of the Transaction Documents does not constitute a "transfer"
 in violation of the Issuer Charter, as such term is used in the Issuer Charter, or a "Transfer"
 in violation of the LLC Agreement, as such term is defined in the LLC Agreement and (iii)
 it has no objection to the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Shall
 not take any actions that are intended to hinder or delay the exercise of any rights and
 remedies with respect to the Pledged Collateral by Pledgee or Custodian under the Transaction
 Documents. Other than as set forth herein, the Company shall not require any opinions of
 counsel or other documents in connection with any sale or transfer of Pledged Collateral
 in connection with the exercise of any such rights and remedies or in connection with the
 physical settlement of one or more "Transactions" (as defined in the Confirmation)
 under the Transaction Documents in accordance with Section ‎2(j) hereof. To the extent
 reasonably requested by Pledgee or Custodian, the Company will cooperate in good faith with
 the Pledgee and/or Custodian in any transfer of Pledged Collateral made pursuant to any exercise
 by Pledgee or Custodian of the rights and remedies under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Without
 limiting the foregoing, the Company shall not acknowledge or give effect to any transfer
 restriction on the Pledged Collateral, other than Existing Transfer Restrictions, notwithstanding
 any notice to the contrary by the Counterparty or any other person, and the Company shall
 not take any action that would result in the creation or existence of any transfer restriction
 on the Pledged Collateral, other than Existing Transfer Restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Agrees
 to pay any and all cash dividends and distributions on the Pledged Common Units (other than
 Tax Distributions (as defined in the LLC Agreement), which the Issuer may pay to the Counterparty,
 and which the Counterparty may retain and/or distribute to its equityholders, from time to
 time in accordance with the LLC Agreement) directly to the Custodian at account no. [_____]
 or as otherwise instructed to the Company by the Custodian.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Agrees
 to take such actions as are required to enable the Issuer to comply with Section ‎1 above.

&nbsp;&nbsp;&nbsp;&nbsp;(f) (i)
 Agrees (and the Counterparty hereby irrevocably instructs the Company) to comply promptly
 with Written Instructions (as defined below) with respect to the Pledged Common Units, including
 any transfer of Pledged Common Units to or as directed by Pledgee or Custodian and/or the
 exercise of the Redemption Right and matters directly relating to any of the foregoing (the
 " <u>Specified Matters</u> "), in each case without further instruction or consent
 from Counterparty (regardless of whether Pledgee or the Custodian provides such instruction
 on behalf of the Counterparty or on behalf of Pledgee) and not to comply with any instructions
 relating to a Specified Matter given by the Counterparty with respect to the Pledged Common
 Units unless accompanied by a consent of Pledgee; *provided* that, for the avoidance
 of doubt, Pledgee hereby confirms and agrees for the benefit of the Company, at all times
 prior to the exercise of rights and remedies under the Transaction Documents following the
 occurrence of an "Event of Default" or "Termination Event" (each
 as defined in the Transaction Documents) under the Transaction Documents or, prior to the
 occurrence of an "Event of Default" or "Termination Event", in connection
 with the physical settlement of one or more "Transactions" (as defined in the
 Transaction Documents) under the Transaction Documents in accordance with Section ‎2(j)
 hereof, the Counterparty shall be entitled to exercise voting rights and receive dividends
 and distributions (subject to Section ‎2(d) hereof) with respect to such Pledged Common
 Units, grant waivers, deliver consents and/or approve amendments under each of the LLC Agreement,
 the Registration Rights Agreement and the Stockholders Agreement and neither the Pledgee
 nor the Custodian shall exercise (or attempt to exercise) any such rights unless and until
 all right, title and interest in such Pledged Common Units has been Transferred to Pledgee
 and Custodian in connection with such exercise of rights and remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For
 purposes of this Issuer Agreement, " <u>Written Instructions</u> " means written
 instructions related to any Specified Matter delivered to the Company by Pledgee or Custodian
 in the manner specified in Section ‎5. If Pledgee or Custodian shall provide any Written
 Instruction that states that such Written Instruction is given on behalf of the Counterparty
 or is intended to represent the exercise of any right of the Counterparty with respect to
 any Specified Matter (including the Counterparty's Redemption Right), such Written
 Instruction shall conclusively be determined to have been given pursuant to this Section
 ‎2(f) and shall be subject only to the conditions that are applicable to the exercise
 of such right in the name of the Counterparty under the LLC Agreement (as modified by this
 Issuer Agreement) or are otherwise required under this Section ‎2(f). Notwithstanding
 any change to any provision of the LLC Agreement after the date hereof, Pledgee and/or Custodian
 shall have the right to exercise any right of the Counterparty with respect to any Specified
 Matter (including the Counterparty's Redemption Right) as such right exists under the
 LLC Agreement (as modified by this Issuer Agreement) on the date hereof, without any additional
 restriction, limitation or condition. The provisions of this Section ‎2(f) shall continue
 until such time as Pledgee notifies the Company in the manner specified in Section ‎5
 that the provisions of this Section ‎2(f) are terminated.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Agrees
 that (and Counterparty hereby confirms its agreement that), notwithstanding anything to the
 contrary in the books and records of the Company or any transfer agent, no right of Counterparty
 in respect of its Pledged Common Units may be transferred, including by way of assignment,
 other than as directed by Pledgee or Custodian pursuant to this Issuer Agreement, and any
 attempted transfer in violation of this provision shall be null and void *ab initio*.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Confirms
 that the Pledged Common Units have been validly issued.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Agrees
 that it will not amend, modify, supplement or waive any term or provision of the LLC Agreement
 in a manner that could be reasonably expected to have a materially adverse effect on Pledgee's
 hedging positions with respect to any Transaction or Pledgee's ability to hedge its
 credit exposure or any economic, trading, or any other type of risk under any Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Agrees
 that, in connection with any Transfer of Pledged Common Units in connection with an exercise
 of rights and remedies under the Transaction Documents, if Pledgee or Custodian delivers
 to the Company a Written Instruction instructing it to give effect to a Redemption of any
 Pledged Common Units (whether in its own name or in the name of the Counterparty) by delivering
 to the Company written notice, executed by a duly authorized signatory of Pledgee or Custodian,
 in the form attached hereto as Exhibit A (a " <u>Pledgee Redemption Notice</u> "),
 then, notwithstanding anything to the contrary in the LLC Agreement and without any further
 condition set forth in the LLC Agreement or otherwise and without further consent of the
 Counterparty or any other person, but subject to compliance by Pledgee with its undertakings
 hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Share
 Settlement shall be applicable, and the Issuer shall not have any right to elect Cash Settlement
 in connection with such Redemption or Direct Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Sections
 6.4, 8.5, 10.2, 10.3 and 11.1.6 of the LLC Agreement shall not apply to such Redemption,
 and the notice period set forth in Section 11.1.1 of the LLC Agreement shall not be applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 Company and the Issuer shall deliver or cause to be delivered the related shares of Class
 A Common Stock without any other condition of any kind, other than as set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Approves
 the pledge of the Pledged Common Units pursuant to the Transaction Documents for purposes
 of the LLC Agreement, and does not object to and will not dispute the conclusion that none
 of Section 8.5, Section 10.2 or Section 10.3 of the LLC Agreement, or any other provision
 of the LLC Agreement (including Section 10.4 of the LLC Agreement, the conditions of which
 are hereby waived in respect of the pledge of the Pledged Common Units), shall apply to such
 pledge prior to any Transfer of Pledged Common Units in connection with an exercise of rights
 and remedies under the Transaction Documents (it being agreed and acknowledged that neither
 a Redemption nor a Direct Exchange is an impermissible "Transfer" for purposes
 of the LLC Agreement), and, without limiting the generality of the foregoing, does not object
 to and will not dispute the conclusion that none of Pledgee, Custodian or any of their respective
 affiliates shall be a "Transferee" for purposes of the LLC Agreement by virtue
 of such pledge, and shall not become, be required to become, or be deemed to be, a Member
 of the Company by virtue of or in connection with such pledge, in each case except to the
 extent the Pledged Common Units are Transferred to such entities in connection with an exercise
 of rights and remedies under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Does
 not object to and will not dispute the conclusion that the exercise of the Redemption Right
 in connection with the Transactions and pursuant to this Issuer Agreement shall not be subject
 to the conditions set forth in Section 11.1.6 of the LLC Agreement (and, as a result, shall
 not exercise any rights under such Section) or Sections 11.1.1.1 or 11.4.3.1 of the LLC Agreement
 as related to any liens on the Redeemed Units as set forth in the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Agrees
 not to deduct or withhold any amounts pursuant to Section 6.4 of the LLC Agreement in respect
 of the Pledged Common Units or from the Class A Common Stock delivered upon exercise of the
 Redemption Right with respect to the Pledged Common Units.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Agrees
 to treat Counterparty (or its regarded owner if Counterparty is disregarded for applicable
 tax purposes) as the beneficial owner of any Pledged Collateral for U.S. federal or applicable
 state and local income tax purposes unless Pledgee exercises its rights and remedies with
 respect to such Pledged Collateral under the Transaction Documents and transfers such Pledged
 Collateral to itself.

<u>Undertakings of Pledgee</u>

3. Pledgee hereby acknowledges and agrees with the Company and the Issuer that any shares of Class A Common Stock issued upon Redemption or Direct Exchange of Pledged Common Units will not have been registered under the Securities Act or any applicable state securities laws but will not be "restricted securities" within the meaning of Rule 144 provided that Pledgee or its affiliate has introduced into the public market a number of shares of Class A Common Stock equal to the maximum number of shares of Class A Common Stock to which the Transactions relate in compliance with paragraphs (f) and (g) of Rule 144, as set forth in the interpretive letters under Rule 144. Pledgee hereby agrees to promptly introduce into the public market a number of shares of Class A Common Stock equal to the number of shares of Class A Common Stock to which the Transactions relate in compliance with paragraphs (f) and (g) of Rule 144, as set forth in the interpretive letters under Rule 144. Pledgee further agrees to use any share of Class A Common Stock that is issued upon a Redemption or Direct Exchange in connection with a "Physical Settlement" of a "Transaction" (each as defined in the Transaction Documents) only to close out short positions created in connection with its compliance with the interpretive letters under Rule 144.

<u>Undertakings of the Counterparty</u>

4. The
 Counterparty:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Makes
 the instructions to the Company and the Issuer specified in Sections ‎1 and ‎2 as
 being made by the Counterparty and shall not revoke such instructions or take any action
 intended to induce the Company or the Issuer to take any action inconsistent with such instructions.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Agrees
 that it shall promptly (and in any event within ten business days) forward to Pledgee any
 written notice it receives from the Issuer or the Company relating to the Pledged Common
 Units under the LLC Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Agrees
 to take any administrative action reasonably requested by Pledgee that is necessary to allow
 the Company and the Issuer to comply with their respective obligations hereunder, as applicable
 (including, by way of example, executing any documentation as the beneficial owner necessary
 to reflect the exchange of Pledged Common Units for Class A Common Stock or any customary
 documentation reasonably requested by the transfer agent for the Company, Continental Stock
 Transfer & Trust Company (the " <u>Transfer Agent</u> ")); *provided* that
 any such request shall comply with the requirements of this Issuer Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Consents
 to the provisions of Sections ‎1 and ‎2 and acknowledges Pledgee's undertakings
 set forth in Section ‎3.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Agrees
 that it shall provide prompt written notice to Pledgee of its receipt from the Company or
 the Issuer of notice of any amendment to the LLC Agreement or Stockholders Agreement (provided
 that, to the extent any such amendment is made publicly available by the Issuer in a Current
 Report on Form 8-K or other report publicly filed with the Securities and Exchange Commission,
 the Pledgee shall be deemed to have provided such notice).

&nbsp;&nbsp;&nbsp;&nbsp;(f) Represents
 that it is a US person, as defined in Section 7701 of the Internal Revenue Code of 1986,
 as amended, and agrees that it will maintain such status for the duration of this Issuer
 Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Agrees
 that it will provide to the Company an executed Internal Revenue Service (" <u>IRS</u> ")
 Form W-9 upon request as well as promptly in the event any such IRS Form W-9 previously provided
 becomes inaccurate or obsolete.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Agrees
 to treat Counterparty (or its regarded owner if Counterparty is disregarded for applicable
 tax purposes) as the beneficial owner of any Pledged Collateral for U.S. federal or applicable
 state and local income tax purposes unless Pledgee exercises its rights and remedies with
 respect to such Pledged Collateral under the Transaction Documents and transfers such Pledged
 Collateral to itself.

<u>Miscellaneous</u>

5. Except as otherwise provided herein, any notice to any party under this Issuer Agreement shall be deemed received by such party at the time when such notice shall have been transmitted by electronic mail to (A) in the case of the Company or the Issuer, Midland International Air & Space Port, 2901 Enterprise Lane Midland, Texas 79706, (B) in the case of the Counterparty, AA Gables 2, LLC, Midland International Air & Space Port, 2901 Enterprise Lane Midland, Texas 79706, Attn: Abel Avellan, (C) in the case of the Pledgee, Citibank, N.A., 388 Greenwich Street, New York, NY 10013, Attention: Equity Derivatives, Email: eric.natelson@citi.com, theodore.finkelstein@citi.com, eq.us.corporates.middle.office@citi.com and (D) in the case of the Custodian, Citibank, N.A., 388 Greenwich Street, 3rd Floor, New York, NY 10013, Attention: Sean Montgomery – Equity Derivatives Operations, Email: sean.montgomery@citi.com. The parties may change such addresses by notifying the other parties of such change by electronic mail transmitted to the addresses set forth above (or such other address as to which notice has been given pursuant to the preceding sentence).

Any notice to the Transfer Agent under this Issuer Agreement shall be given as follows:

Continental Stock Transfer & Trust Company

Attn: Michael Mullings, COO

1 State Street, 30<sup>th</sup> Floor

New York City, NY 10004

6. This Issuer Agreement and the Transaction Documents shall embody the entire agreement and understanding of the parties hereto and supersedes any and all prior agreements, arrangements and understanding relating to the matters provided for herein. In the event of any inconsistency or contradiction of any provision of this Issuer Agreement with any of the LLC Agreement or the Issuer Organizational Documents, this Issuer Agreement shall prevail.

7. Except as set forth above, no alteration, waiver, amendment, change or supplement hereto shall be binding or effective unless it is set forth in writing and signed by a duly authorized representative of each party. If it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that any term or provision hereof is invalid or unenforceable, the remaining terms and provisions hereof shall be unimpaired and shall remain in full force and effect.

8. This Issuer Agreement shall not create or be construed as creating rights enforceable by any person or entity not a party hereto. No party to this Issuer Agreement is or shall be construed to be a fiduciary of any other party hereto. Except as set forth herein, each party shall have no duties or liabilities to the other party, its affiliates or any other person by virtue of this Issuer Agreement.

9. **This Issuer Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the conflicts of law principles thereof that would defer to or result in the application of laws of another jurisdiction.**

10. Each party hereto hereby irrevocably and unconditionally (a) submits, for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in the Borough of Manhattan, the City of New York, and any appellate court from any thereof, in any suit, action or proceeding arising out of or relating to this Issuer Agreement, or the transactions contemplated hereby, and agrees that all claims in respect of any such suit, action or proceeding may be heard and determined only in such New York State court or, to the extent permitted by law, in such Federal court, (b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Issuer Agreement or the transactions contemplated hereby or thereby in any New York State court or in any such Federal court, (c) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such suit, action or proceeding in any such court, and (d) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Service of any process, summons, notice or document by registered mail addressed to the address of such party set forth above shall be effective service of process against such party for any suit, action or proceeding brought in any such court.

11. **EACH PARTY HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS ISSUER AGREEMENT OR THE PERFORMANCE OF SERVICES HEREUNDER.**

12. This Issuer Agreement may be executed in any number of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Issuer Agreement by facsimile or other electronic transmission (including "pdf" or "tif") shall be effective as delivery of a manually executed counterpart hereof. No provision of this Issuer Agreement may be amended or waived unless such amendment or waiver is in writing and signed, in the case of an amendment, by the parties hereto, or, in the case of a waiver, by the party against whom the waiver is to be effective.

13. To the extent there is any amendment, modification or supplement to any Transaction Document or an event that might constitute a material change in law, any of the Counterparty or the Pledgee may request the parties hereto to reconfirm (which may be by email) their respective rights and obligations in this Issuer Agreement after giving effect to such amendment, modification or supplement or potential material change in law.

14. The provisions, acknowledgments and undertakings of this Issuer Agreement shall inure to the benefit of Pledgee and its successors and assigns permitted under the Transaction Documents.

15. The Transfer Agent shall be a third-party beneficiary of this Issuer Agreement and any certificates, opinions or other documents delivered hereunder.

[*Remainder of this page intentionally left blank*]

If the foregoing correctly sets forth our understanding, please indicate your acceptance of the terms hereof by returning to us an executed counterpart hereof, whereupon this Issuer Agreement shall become a binding agreement between us.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| CITIBANK, N.A. | CITIBANK, N.A. |
| By: | /s/ Eric Natelson |
| Name: | Eric Natelson |
| Title: | Authorized Signatory |

---

*[Signature Page to Issuer Agreement]*

---

| | |
|:---|:---|
| Accepted and agreed: | Accepted and agreed: |
| AST SPACEMOBILE, INC. | AST SPACEMOBILE, INC. |
| By: | /s/ Andrew Johnson |
| Name: | Andrew Johnson |
| Title: | EVP, CFO & CLO |
| AST & SCIENCE, LLC | AST & SCIENCE, LLC |
| By: | /s/ Andrew Johnson |
| Name: | Andrew Johnson |
| Title: | EVP, CFO & CLO |
| AA GABLES 2, LLC | AA GABLES 2, LLC |
|  | /s/ Abel Avellan |
| Name: | Abel Avellan |
| Title: | Managing Member |

---

*[Signature Page to Issuer Agreement]*

Exhibit A

PLEDGEE REDEMPTION NOTICE<sup>1</sup>

AST & Science, LLC

c/o AST SpaceMobile, Inc.

Midland Intl. Air & Space Port

2901 Enterprise Lane

Midland, Texas 79706

[*Date*]

Reference is hereby made to (i) the Fifth Amended and Restated Limited Liability Company Operating Agreement of AST & Science, LLC, dated as of April 6, 2021 (as amended from time to time, the "<u>LLC Agreement</u>"), by and among AST SpaceMobile, Inc. (the "<u>Corporation</u>"), AST & Science, LLC (the "<u>Company</u>") and the holders from time to time of the Company's Units listed on the signature pages to the LLC Agreement as "Members" (collectively, the "<u>Members</u>" and individually, a "<u>Member</u>") and (ii) the Issuer Agreement dated as of June 22, 2026 by and among the Corporation, the Company, AA Gables 2, LLC (the "<u>Counterparty</u>") and Citibank, N.A. (the "<u>Pledgee</u>") (as may be amended from time to time, the "<u>Issuer Agreement</u>"). Capitalized terms used but not defined herein shall have the meanings given to them in the LLC Agreement.

The undersigned Member hereby transfers to the Corporation effective as of the Redemption Date, the number of Common Units in exchange for shares of Class A Common Stock to be issued and delivered as set forth below in accordance with the terms of the LLC Agreement and the Issuer Agreement through the facilities of The Depository Trust Company (without any restrictive legends or stop transfer orders, and without any deduction, setoff or withholding) not later than 5:00 p.m. New York City time on the second Business Day immediately following the date of this Pledgee Redemption Notice.

Legal Name of Member: [●]

Address: [●]

Number of Common Units subject to Redemption Right: [●]

Transfer and Delivery Instructions:

Subject to the Issuer Agreement and the rights and remedies of Pledgee under the Transaction Documents (as defined in the Issuer Agreement), the undersigned hereby represents and warrants that (i) whether in its own name or in the name of the Counterparty, the undersigned is authorized to execute and deliver this Pledgee Redemption Notice and to perform the undersigned's obligations hereunder; and (ii) the Common Units subject to this Pledgee Redemption Notice are being transferred to the Corporation free and clear of any liens other than as set forth in the Transaction Documents (as defined in the Issuer Agreement).

The undersigned hereby irrevocably constitutes and appoints any officer of the Corporation or the Company as the attorney of the undersigned, with full power of substitution and resubstitution in the premises, to do any and all things and to take any and all actions that may be necessary to transfer to the Corporation the Redeemed Units subject to this Pledgee Redemption Notice and to deliver to the undersigned the shares of Class A Common Stock to be delivered in exchange therefor.

IN WITNESS WHEREOF, the undersigned, but authority duly given, has caused this Pledgee Redemption Notice to be executed and delivered by the undersigned or by its duly authorized attorney.

Name: 

Title: 

Dated: 

<sup>1</sup> To be signed by Pledgee or Custodian or by or on behalf of the Counterparty.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 18)**

**AST SpaceMobile, Inc.**

*(Name of Issuer)*

**Class A Common Stock**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Abel Avellan**<br>c/o AST SpaceMobile, Inc., Midland Intl.<br>Air & Space Port, 2901 Enterprise Lane<br>Midland TX 79706<br>(432) 276-3966

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/22/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Abel Avellan** | Name of reporting person<br>**Abel Avellan** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**78252625.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**78252625.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**78252625.00** | Aggregate amount beneficially owned by each reporting person<br>**78252625.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.8%** | Percent of class represented by amount in Row (11)<br>**20.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

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**Comment for Reporting Person:** (1) The Aggregate Amount Beneficially Owned by Each Reporting Person in Row (11) with Sole Voting Power in Row (7) and Sole Dispositive Power in Row (9) comprised of (i) 89,547 shares of Class A Common Stock of AST SpaceMobile, Inc. (the "Issuer") and (ii) 78,163,078 shares of Class A Common Stock of the Issuer that may be issued upon redemption by the Reporting Person of 78,163,078 common units (the "AST Common Units") of AST & Science, LLC ("AST"). In addition, the Reporting Person beneficially owns 78,163,078 shares of Class C Common Stock of the Issuer (the "Class C Common Stock"). Each share of Class A Common Stock carries one vote per share, and each share of Class C Common Stock carries ten votes per share and no economic rights. From and after April 6, 2022, the Reporting Person may redeem or exchange one AST Common Unit for one share of Class A Common Stock or, under certain circumstances and at the election of the Issuer, a cash payment based on the value of Class A Common Stock. At the time of any redemption or exchange, the Reporting Person would forfeit an equivalent number of shares of Class C Common Stock to the Issuer.

As discussed in Item 2 of the Original Filing (as defined herein), the other Stockholder Parties (as defined in the Original Filing) are not included as reporting persons in this Schedule 13D, and the Reporting Persons expressly disclaim beneficial ownership of the shares of Class A Common Stock beneficially held by the other Stockholders Parties.

(2) The Percent of Class Represented by Amount in Row (11) in Row (13) is based upon approximately 376,909,461 shares of Class A Common Stock outstanding comprised of (i) 298,746,383 shares of Class A Common Stock outstanding as of May 7, 2026, and (ii) approximately 78,163,078 shares of Class A Common Stock issuable upon the redemption or exchange of the AST Common Units owned by the Reporting Person. This percentage does not represent the Reporting Person's current voting interest in the Issuer, as the Reporting Person has an 71.6% voting interest in the Issuer by virtue of his ownership of all of the shares of Class C Common Stock of the Issuer.

AMENDMENT NO. 18 TO SCHEDULE 13D

This Amendment No. 18 to Schedule 13D (this "Amendment No. 18") amends and supplements the initial Schedule 13D filed by Mr. Abel Avellan with the Securities and Exchange Commission (the "SEC") on March 11, 2022 (the "Original Filing"), as amended by Amendment No. 17 to Schedule 13D filed by Mr. Avellan with the SEC on March 3, 2026 ("Amendment No. 17"), as amended by Amendment No. 16 to Schedule 13D filed by Mr. Avellan with the SEC on November 21, 2025 ("Amendment No. 16"), as amended by Amendment No. 15 to Schedule 13D filed by Mr. Avellan with the SEC on October 31, 2025 ("Amendment No. 15"), as amended by Amendment No. 14 to Schedule 13D filed by Mr. Avellan with the SEC on July 15, 2025 ("Amendment No. 14"), as amended by Amendment No. 13 to Schedule 13D filed by Mr. Avellan with the SEC on June 20, 2025 ("Amendment No. 13"), Amendment No. 12 to Schedule 13D filed by Mr. Avellan with the SEC on January 27, 2025 ("Amendment No. 12"), as amended by Amendment No. 11 to Schedule 13D filed by Mr. Avellan with the SEC on November 20, 2024 ("Amendment No. 11"), as amended by Amendment No. 10 to Schedule 13D filed by Mr. Avellan with the SEC on October 15, 2024 ("Amendment No. 10"), as amended by Amendment No. 9 to Schedule 13D filed by Mr. Avellan with the SEC on September 26, 2024 ("Amendment No. 9"), Amendment No. 8 to Schedule 13D filed by Mr. Avellan with the SEC on August 26, 2024 ("Amendment No. 8"), Amendment No. 7 to Schedule 13D filed by Mr. Avellan with the SEC on July 11, 2024 ("Amendment No. 7"), Amendment No. 6 to Schedule 13D filed by Mr. Avellan with the SEC on June 14, 2024 ("Amendment No. 6"), Amendment No. 5 to Schedule 13D filed by Mr. Avellan with the SEC on March 6, 2024 ("Amendment No. 5"), Amendment No. 4 to Schedule 13D filed by Mr. Avellan with the SEC on January 25, 2024 ("Amendment No. 4"), Amendment No. 3 to Schedule 13D filed by Mr. Avellan with the SEC on July 6, 2023 ("Amendment No. 3"), Amendment No. 2 to Schedule 13D filed by Mr. Avellan with the SEC on May 2, 2023 ("Amendment No. 2") and Amendment No. 1 to Schedule 13D filed by Mr. Avellan with the SEC on December 13, 2022 ("Amendment No. 1").

This Amendment No. 18 amends and supplements the Original Filing, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10, Amendment No. 11, Amendment No. 12, Amendment No. 13, Amendment No. 14, Amendment No. 15, Amendment No. 16 and Amendment No. 17 as specifically set forth herein, and except as set forth herein no other changes have been made to the prior filings.

All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed as such terms in the Original Filing. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock

**(b) Name of Issuer:**
AST SpaceMobile, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
Midland Intl. Air & Space Port, 2901 Enterprise Lane, Midland, TX, 79706

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is hereby amended to include the following:

On June 22, 2026, AA Gables 2, LLC ("AA Gables 2"), a Delaware limited liability company of which the Reporting Person is the sole member and managing member, entered into a variable prepaid forward transaction with an unaffiliated dealer covering up to a maximum of 2,500,000 shares of Class A Common Stock. The Reporting Person entered into the transaction for personal financial planning purposes, including to provide liquidity for taxes and other general purposes, while retaining voting rights in the pledged securities during the term of the transaction, as described in Item 6.

The information set forth in Item 6 of this Amendment No. 18, including, without limitation, information as to the rights and obligations of the Reporting Person pursuant to the terms of the agreements, instruments and other matters described therein, is hereby incorporated by reference.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 is amended and restated to read as follows:

As of the date hereof, the aggregate number and percentage of shares of Class A Common Stock beneficially owned by Mr. Avellan are as follows:

Amount beneficially owned: 78,252,625

Percent of class: 20.8%

Number of shares the Reporting Person has:

**(b)**
i. Sole power to vote or direct the vote: 78,252,625
ii. Shared power to vote: 0
iii. Sole power to dispose or direct the disposition of: 78,252,625
iv. Shared power to dispose or direct the disposition of: 0

The Reporting Person may be deemed to beneficially own 78,163,078 shares of Class A Common Stock issuable upon conversion of 78,163,078 AST Common Units held of record by the Reporting Person.

As discussed in Item 2 of the Original Filing, the other Stockholder Parties are not included as reporting persons in the Original Filing, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10, Amendment No. 11, Amendment No. 12, Amendment No. 13, Amendment No. 14, Amendment No. 15, Amendment No. 16, Amendment No. 17 and this Amendment No. 18, and the Reporting Person expressly disclaims beneficial ownership of the shares of Class A Common Stock held by the other Stockholder Parties.

**(c)**
During the past 60 days (other than as set forth in this Amendment No. 18), the Reporting Person has not effected any transactions with respect to the Class A Common Stock.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On June 22, 2026, AA Gables 2 entered into a master confirmation (the "Master Confirmation"), supplemental confirmation (the "Supplemental Confirmation") and pricing notice (the "Pricing Notice") under Rule 144 of the Securities Act of 1933, as amended in respect of a variable prepaid forward transaction (the "Forward Contract") with an unaffiliated dealer covering up to a maximum of 2,500,000 shares of Class A Common Stock (the "Subject Shares"). The Forward Contract obligates AA Gables 2 to deliver to the dealer up to 2,500,000 Subject Shares (or, at AA Gables 2's election, an equivalent amount of cash) on specified dates in March of 2028. The transaction is divided into four components, each comprising up to 625,000 shares of Class A Common Stock (the "Component Shares"). The number of Component Shares (or the equivalent amount of cash if AA Gables 2 elects cash settlement), to be delivered to the dealer on the related settlement date will be based on the volume-weighted average price per share of Class A Common Stock on the related valuation date (the "Settlement Price").

The number of shares of Class A Common Stock (or, in each case, the equivalent amount of cash if AA Gables 2 elects cash settlement), to be delivered to the dealer on the settlement date of each component will be determined as follows: (A) if the Settlement Price is less than or equal to $59.58 (the "Floor Price"), AA Gables 2 will deliver the Component Shares; (B) if the Settlement Price is less than or equal to $111.72 (the "Cap Price"), but greater than the Floor Price, AA Gables 2 will deliver a number of shares of Class A Common Stock equal to (i) the Component Shares, multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is the Settlement Price; and (C) if the Settlement Price is greater than the Cap Price, AA Gables 2 will deliver a number of shares of Class A Common Stock equal to (i) the Component Shares, multiplied by (ii) a fraction, the numerator of which is the sum of (x) the Floor Price and (y) the Settlement Price minus the Cap Price, and the denominator of which is the Settlement Price.

In exchange for assuming this obligation, AA Gables 2 received an upfront aggregate cash payment of approximately $146.7 million. AA Gables 2 has pledged 2,500,000 AST Common Units (the "Pledged Securities") to secure its obligations under the Forward Contract. AA Gables 2 will retain voting rights in the Pledged Securities during the term of the Forward Contract.

The foregoing description of the transaction does not purport to be complete and is subject to, and qualified in its entirety by reference to, the Master Confirmation, the Supplemental Confirmation and the Pricing Notice, which are filed as Exhibits 9, 10 and 11 hereto, respectively.

In connection with the Forward Contract, also on June 22, 2026, the Issuer, AST and AA Gables 2 entered into an Issuer Agreement which addresses the pledge of the Pledged Securities and certain other obligations and undertakings of the parties thereto in connection with the Forward Contract (the "Issuer Agreement"). The foregoing description of Issuer Agreement does not purport to be complete and is subject to, and qualified in its entirety by the Issuer Agreement which is filed as Exhibit 12 hereto.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Abel Avellan

**Signature:** /s/ Abel Avellan

**Name/Title:** AST SpaceMobile, Inc. Chairman and Chief Executive Officer

**Date:** 06/23/2026