# EDGAR Filing Document

**Accession Number:** 0001616543
**File Stem:** 0001104659-26-057233
**Filing Date:** 2026-5
**Character Count:** 455741
**Document Hash:** 4436920b91da962cf3b96d670bcfbc66
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-057233.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001104659-26-057233

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 98

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Senseonics Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001616543
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 471210911
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37717
- **FILM NUMBER:** 26954428

**BUSINESS ADDRESS:**
- **STREET 1:** 20451 SENECA MEADOWS PARKWAY
- **CITY:** GERMANTOWN
- **STATE:** MD
- **ZIP:** 20876
- **BUSINESS PHONE:** (301) 515-7260

**MAIL ADDRESS:**
- **STREET 1:** 20451 SENECA MEADOWS PARKWAY
- **CITY:** GERMANTOWN
- **STATE:** MD
- **ZIP:** 20876

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASN Technologies, Inc.
- **DATE OF NAME CHANGE:** 20140813

?xml version='1.0' encoding='ASCII'? Senseonics Holdings, Inc._March 31, 2026

[**Table of Contents**](#Toc)

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

**(Mark One)**

**☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the Quarterly Period Ended March 31, 2026**

**or**

**☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from ______ to ______**

**Commission file number: 001-37717**

**Senseonics Holdings, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware**<br>(State or other jurisdiction of<br>incorporation or organization) | **3841**<br>(Primary Standard Industrial<br>Classification Code Number) | **47-1210911**<br>(I.R.S. Employer<br>Identification Number) |

---

**20451 Seneca Meadows Parkway**

**Germantown, MD 20876-7005**

**(301) 515-7260**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of each class<br>| &nbsp;&nbsp;Trading Symbol(s)<br>| &nbsp;&nbsp;Name of each exchange on which registered<br>|
| &nbsp;&nbsp;Common Stock, $0.001 par value | &nbsp;&nbsp;SENS | &nbsp;&nbsp;Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

There were 41,802,965 shares of common stock, par value $0.001, outstanding as of May 4, 2026.

------

[**Table of Contents**](#Toc)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| PART I: Financial Information |  |
| ITEM 1: Financial Statements |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#BalanceSheet_703844) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2026 and 2025](#StatementofOperations_396902) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 31, 2026 and 2025](#Equity) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025](#Cashflows1) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Notes to Unaudited Condensed Consolidated Financial Statements](#Financialsatements) | 7 |
| [ITEM 2](#ITEM2MANAGEMENTS_197147): [Management's Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2MANAGEMENTS_197147) | 27 |
| [ITEM 3](#ITEM3Quantitative_657325): [Quantitative and Qualitative Disclosures About Market Risk](#ITEM3Quantitative_657325) | 37 |
| [ITEM 4](#ITEM4Controls_106115): [Controls and Procedures](#ITEM4Controls_106115) | 37 |
| [PART II](#PARTIIOTHER_185116): [Other Information](#PARTIIOTHER_185116) | 38 |
| [ITEM 1](#ITEM1Legal_685480): [Legal Proceedings](#ITEM1Legal_685480) | 38 |
| [ITEM 1A: Risk Factors](#ITEM1A_Risk_Factors) | 38 |
| [ITEM 2](#ITEM2Unregistered_672156): [Unregistered Sales of Equity Securities and Use of Proceeds](#ITEM2Unregistered_672156) | 40 |
| [ITEM 3](#ITEM3Defaults_376507): [Defaults Upon Senior Securities](#ITEM3Defaults_376507) | 40 |
| [ITEM 4](#ITEM4Mine_269841): [Mine Safety Disclosures](#ITEM4Mine_269841) | 40 |
| [ITEM 5](#ITEM5Other_258094): [Other Information](#ITEM5Other_258094) | 40 |
| [ITEM 6](#ITEM6Exhibits): [Exhibits](#ITEM6Exhibits) | 41 |
| [SIGNATURES](#SIGNATURES_388101) | 43 |

---

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**Senseonics Holdings, Inc.**

**Condensed Consolidated Balance Sheets**

**(in thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
|  | **March 31,**  | **December 31,**  |
|  | **2026** | **2025** |
|  | **(unaudited)** |  |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $29612 | $40234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 315 | 315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short term investments, net | 34709 | 53796 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 10655 | 6807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net - related parties | 4056 | 5312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory, net | 8308 | 6703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 4626 | 4366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 92281 | 117533 |
| Deposits and other assets | 6429 | 4536 |
| Property, equipment and intangible assets, net | 4147 | 4200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $102857 | $126269 |
| **Liabilities and Stockholders' Equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $3188 | $4059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 15097 | 15091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities, related parties | 8040 | 5198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 26325 | 24348 |
| Long-term debt and notes payables, net | 35912 | 35586 |
| Non-current operating lease liabilities | 6285 | 5289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 68522 | 65223 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.001 par value per share; 70,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 41,795,466 shares and 41,265,778 shares issued and outstanding as of March 31, 2026 and December 31, 2025 | 42 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 1083605 | 1077923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 8 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (1049320) | (1016987) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 34335 | 61046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $102857 | $126269 |

---

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

[**Table of Contents**](#Toc)

**Senseonics Holdings, Inc.**

**Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss**

**(in thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Revenue, net | $9341 | $1810 |
| Revenue, net - related parties | 2370 | 4447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 11711 | 6257 |
| Cost of sales | 4771 | 4752 |
| Gross profit | 6940 | 1505 |
| Expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development expenses | 8611 | 7299 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 30175 | 7694 |
| Operating loss | (31846) | (13488) |
| Other income (expense), net: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 742 | 675 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (1192) | (1429) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense | (37) | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense), net | (487) | (771) |
| Net Loss  | (32333) | (14259) |
| Other comprehensive loss |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized loss on marketable securities | (61) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive loss | (61) | (3) |
| Total comprehensive loss | $(32394) | $(14262) |
| Basic net loss per common share | $(0.71) | $(0.40) |
| Basic weighted-average shares outstanding | 45822486 | 35943880 |
| Diluted net loss per common share | $(0.71) | $(0.40) |
| Diluted weighted-average shares outstanding | 45822486 | 35943880 |

---

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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**Senseonics Holdings, Inc.**

**Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity**

**(in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | | |
|  | **Shares** | **Amount** | <br>**Paid-In**<br>**Capital** | <br><br>**Accumulated**<br>**Other**<br>**Comprehensive Loss** | <br>**Accumulated**<br>**Deficit** | <br>**Stockholders'**<br>**Equity** | **Series B**<br>**Convertible** <br>**Preferred Stock**<br>**Temporary**<br>**Equity** |
| **Three months ended March 31, 2025:** |  |  |  |  |  |  |  |
| Balance, December 31, 2024 | 29767 | $30 | $931289 | $— | $(947874) | $(16555) | $37656 |
| Conversion of preferred stock | 1519 | 2 | 37654 |  |  | 37656 | (37656) |
| Issuance of common stock, net of issuance costs | 1411 | 1 | 26455 |  |  | 26456 |  |
| Issued common stock for vested RSUs, ESPP purchases and stock option exercises | 14 |  | 62 |  |  | 62 |  |
| Stock-based compensation expense |  |  | 1840 |  |  | 1840 |  |
| Net loss |  |  |  |  | (14259) | (14259) |  |
| Other comprehensive loss |  |  |  | (3) |  | (3) |  |
| Balance, March 31, 2025 | 32711 | $33 | $997300 | $(3) | $(962133) | $35197 | $— |
| **Three months ended March 31, 2026:** |  |  |  |  |  |  |  |
| Balance, December 31, 2025 | 41263 | $41 | $1077923 | $69 | $(1016987) | $61046 | $— |
| Issuance of common stock, net of issuance costs | 478 |  | 3493 |  |  | 3493 |  |
| Issued common stock for vested RSUs, ESPP purchases and stock option exercises | 73 | 1 | 63 |  |  | 64 |  |
| Stock-based compensation expense  |  |  | 2276 |  |  | 2276 |  |
| Shares withheld related to net share settlement of equity awards | (19) |  | (150) |  |  | (150) |  |
| Net loss |  |  |  |  | (32333) | (32333) |  |
| Other comprehensive loss |  |  |  | (61) |  | (61) |  |
| Balance, March 31, 2026 | 41795 | $42 | $1083605 | $8 | $(1049320) | $34335 | $— |

---

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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**Senseonics Holdings, Inc.**

**Unaudited Condensed Consolidated Statements of Cash Flows**

**(in thousands)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| **Cash flows from operating activities** |  |  |
| Net loss | $(32333) | $(14259) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense | 545 | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense (debt discount and deferred costs) | 325 | 518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net amortization of premiums and accretion of discounts on marketable securities | (198) | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 2276 | 1840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for inventory obsolescence and losses | (345) | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | 420 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 4 | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (3010) | 1650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 252 | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (1346) | (236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits and other assets | (301) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (870) | (852) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 3004 | (5655) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | (62) | (491) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on lease liabilities | (386) | (231) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (32025) | (16080) |
| **Cash flows from investing activities** |  |  |
| Capital expenditures | (111) | (434) |
| Purchase of marketable securities | (4042) | (24891) |
| Proceeds from sale and maturity of marketable securities | 23260 |  |
| Cash paid in connection with asset acquisition | (1111) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | 17996 | (25325) |
| **Cash flows from financing activities** |  |  |
| Proceeds from issuance of common stock, net | 3493 | 26456 |
| Proceeds from exercise of stock options, RSUs and ESPP issuances, net | 64 | 62 |
| Taxes paid related to net share settlement of equity awards | (150) |  |
| Repayment of 2025 Notes |  | (20399) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 3407 | 6119 |
| Net decrease in cash, cash equivalents, and restricted cash | (10622) | (35286) |
| Cash, cash equivalents, and restricted cash at beginning of period | 40549 | 74912 |
| Cash, cash equivalents, and restricted cash at end of period | $29927 | $39626 |
| **Supplemental disclosure of cash flow information** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid during the period for interest | $866 | $1402 |
| **Supplemental disclosure of non-cash investing and financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment purchases included in accounts payable and accrued expenses |  | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock upon conversion of preferred shares |  | 30372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities arising from obtaining right-of-use assets | 1685 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reverse stock split - reclassification from common stock to additional paid-in capital |  | 621 |

---

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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**Senseonics Holdings, Inc.**

**Notes to Unaudited Condensed Consolidated Financial Statements**

**1.** **Organization and Nature of Operations**

***Business***

Senseonics Holdings, Inc., a Delaware corporation, is a medical technology company focused on the design, development and commercialization of long-term, implantable continuous glucose monitoring ("CGM") systems to improve the lives of people with diabetes by enhancing their ability to manage their disease with relative ease and accuracy.

Senseonics, Incorporated is a wholly owned subsidiary of Senseonics Holdings, Inc. and was originally incorporated on October 30, 1996, and commenced operations on January 15, 1997. Eon Care Services, LLC and Eon Management Services, LLC are wholly owned subsidiaries of Senseonics, Incorporated formed in April 2024 and July 2024, respectively. In connection with the transition of commercialization activities in Europe, the Company established wholly owned subsidiaries in Italy, Germany, Spain and Sweden in late 2025 and early 2026 to support local commercial operations and distribution activities. Senseonics Holdings, Inc. and its consolidated subsidiaries and affiliated entities, including its consolidated variable interest entities ("VIEs") are hereinafter collectively referred to as the "Company", unless otherwise indicated or the context otherwise requires.

***Reverse Stock Split***

On October 17, 2025, at 4:05 p.m. Eastern Time (the "Effective Time"), the Company effected a 1-for-20 reverse stock split of the Company's issued and outstanding shares of common stock (the "Reverse Stock Split") and a proportionate reduction in the total number of authorized shares of its common stock from 1,400,000,000 shares to 70,000,000 shares, as authorized by the Company's stockholders at the Company's 2025 special meeting of stockholders held on September 29, 2025 and approved by the Company's board of directors on October 3, 2025. As a result of the Reverse Stock Split, every 20 shares of issued and outstanding common stock were automatically combined into one issued and outstanding share of common stock, without any change in the par value of $0.001 per share. No fractional shares were issued as a result of the Reverse Stock Split. Stockholders entitled to a fractional share received a cash payment based on the average closing sales price of the Company's common stock on the NYSE American for the five trading days immediately preceding the Effective Time. All historical share and per share amounts reflected throughout the financial statements have been adjusted to reflect the Reverse Stock Split. Proportionate adjustments were made to the per share exercise price and the number of shares of common stock that may be purchased upon exercise of outstanding stock options and warrants and the number of shares of common stock reserved for future issuance under the Company's equity compensation plans.

***Transfer to Nasdaq Stock Exchange***

On November 14, 2025, the Company provided written notice to NYSE American of its determination to make a voluntary withdrawal of the Company's common stock from the NYSE American to the Nasdaq Global Select Market ("Nasdaq"). The Company ended trading on the NYSE American effective after the market closed on November 14, 2025 and began trading on Nasdaq under the existing ticker symbol "SENS" on November 17, 2025.

**2.** **Liquidity and Capital Resources**

The Company has not generated significant profit from the sale of products and its ability to generate revenue and achieve profitability largely depends on the Company's ability to successfully expand the commercialization of its implantable continuous glucose monitoring systems, including the Eversense E3 system ("Eversense E3") and the Eversense 365 system ("Eversense 365" and, together with Eversense E3, "Eversense" or the "Eversense Systems"), continue the development of its products and product upgrades, and to obtain necessary regulatory approvals or certifications for the sale of those products. These activities including the costs associated with our plans to transition the

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commercial activities back to the Company (as further described in Note 4) will require significant uses of working capital through 2026 and beyond. The Company generated total net loss of $(69.1) million and $(78.6) million for the years ended December 31, 2025 and 2024, respectively. For the three months ended March 31, 2026, the Company had a net loss of $32.3 million and an accumulated deficit of $1.0 billion. To date, the Company has funded its operations principally through the issuance of preferred stock, common stock, warrants, convertible notes and debt. As of March 31, 2026, the Company had unrestricted cash, cash equivalents and marketable securities of $64.3 million.

Several actions have been taken by the Company with regards to liquidity and to manage our cash flows for the year ended December 31, 2025, the three months ended March 31, 2026 and subsequent to March 31, 2026. These actions included, but were not limited to, the completion of multiple equity financing transactions during 2025, including an underwritten public offering and private placement resulting in aggregate net proceeds of approximately $72.2 million, approximately $30.8 million in net proceeds received under the Equity Distribution Agreement (as described in Note 13) from March 2024 through March 2025, and approximately $3.5 million in net proceeds from the sale of 478,067 shares under the Sales Agreement (as described in Note 13) during the three months ended March 31, 2026. In addition, subsequent to March 31, 2026, the Company completed additional equity and debt financing transactions as discussed below.

On May 4, 2026, the Company completed an underwritten public offering (the "Public Offering") of 8,000,000 shares of its common stock at a public offering price of $5.00 per share and, in lieu of common stock, pre-funded warrants to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per pre-funded warrant share. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions, which the underwriters exercised in full. As a result, the total gross proceeds to the Company from the offering were approximately $92.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The net proceeds to the Company are estimated to be approximately $86.0 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Public Offering is further described in Note 13.

On May 1, 2026, the Company entered into a Second Amendment to its Loan and Security Agreement with Hercules Capital, Inc. (the "Amended Loan Agreement"), pursuant to which the lenders agreed to make available to the Company up to $140.0 million in senior secured term loans. The facility consists of (i) an initial term loan of $35.0 million, which was previously funded, (ii) an additional term loan of $10.0 million (the "Tranche 2 Loan"), and (iii) additional tranches of term loans in the amounts of up to $10.0 million, $10.0 million, $15.0 million and an uncommitted $60.0 million, respectively, subject to the satisfaction of specified conditions. The loans under the Amended Loan Agreement mature on September 3, 2029. The Second Amendment closed on May 6, 2026 (the "Amendment Closing Date"), and both the 2026 Tranche 2 Loan and 2026 Tranche 3A Loan were funded at closing for total proceeds of $20.0 million. The Amended Loan Agreement is further described in Note 12.

In accordance with the FASB Accounting Standards Codification Topic 205-40, Presentation of Financial Statements- Going Concern, management is required to assess the Company's ability to continue as a going concern through twelve months after issuance of the financial statements. Management previously disclosed conditions and events that raised substantial doubt about our ability to continue as a going concern. In addition, given the Company's historical reliance upon debt and equity financing, management will continue to evaluate our funding needs against operating performance and strategic initiatives.

As of the first quarter of 2026, based on current operating plans, the subsequent receipt of financing proceeds, its existing unrestricted cash, cash equivalents and marketable securities, management now believes that the Company has sufficient resources to meet the Company's anticipated operating needs for the next twelve months from the issuance of the financial statements. Accordingly, management has concluded that the substantial doubt that was raised in the past about the Company's ability to continue as a going concern has been alleviated.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Summary of Significant Accounting Policies** 

***Basis of Presentation***

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Although the Company considers the disclosures in these unaudited condensed consolidated financial statements to be adequate to make the information presented not misleading, certain information or footnote information normally included in consolidated financial statements prepared in accordance with U.S. GAAP has been condensed or omitted as permitted under the rules and regulations of the SEC. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of financial position at March 31, 2026, and December 31, 2025, results of operations, comprehensive loss, and changes in stockholders' equity for the three months ended March 31, 2026 and 2025 and cash flows for the three months ended March 31, 2026 and 2025 have been included. The unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 2, 2026. The interim results for March 31, 2026 are not necessarily indicative of the results to be expected for the year ending December 31, 2026, or for any future interim periods.

The consolidated financial statements reflect the accounts of Senseonics Holdings, Inc. and its consolidated subsidiaries and affiliated entities, including its VIEs. All intercompany balances and transactions are eliminated upon consolidation. The Company views its operations and manages its business in one segment, diabetes products and services. Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance.

In November 2024, Eon Management Services, LLC entered into management services agreements (the "Administrative Agreement") for an initial fixed term of 10 years with several professional corporations created to support patient access to the Eversense Systems by contracting nurse practitioners and other healthcare professionals to perform Eversense insertion procedures and other clinical activities. On April 1, 2026, Eon Management Services, LLC entered into an additional management services agreement with Meadows Medical Care PC, also with an initial fixed term of 10 years. Eon Care Clinicians PC, Eon Care Clinicians of NJ PC, Eon Care Clinicians of CA PC, and Meadows Medical Care PC (collectively referred to as the "Eon Care PCs") are professional corporations established pursuant to the requirements of their respective domestic jurisdictions governing the corporate practice of medicine.

In accordance with relevant accounting guidance, the Eon Care PCs have been determined to be VIEs of the Company, as the Company is its primary beneficiary with the ability, through the Administrative Agreement to direct the activities (excluding clinical activities) that most significantly affect the Eon Care PCs financial performance and have the obligation to absorb losses of, or the right to receive benefits from, the Eon Care PCs that could potentially be significant to it. The assets of the consolidated VIEs may only be used to settle obligations of the consolidated VIEs, if any. Our variable interest entities' assets, liabilities, and results of operations were not material to our consolidated financial results.

***Significant Accounting Policies***

The accounting policies used by the Company in its presentation of interim financial results are consistent with those presented in Note 3 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

***Recent Accounting Pronouncements***

In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Disaggregation of Income Statement Expenses (DISE) ("ASU 2024-03"), the objective of which is to provide greater transparency about an entity's expenses to allow investors to better understand an entity's performance, assessing its prospects for future cash flows, and comparing its performance both over time and with that of other entities. ASU 2024-03 is effective for annual

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reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact of the new standard on its financial statements and disclosures.

***Use of Estimates***

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenue and expenses during the reporting period. In the accompanying unaudited condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, recoverability of long-lived assets and definite-lived intangible assets, deferred taxes and valuation allowances, fair value of investments, derivative assets and liabilities, obsolete inventory, warranty obligations, variable consideration related to revenue, allowance for credit losses, depreciable lives of property and equipment, amortization periods for identifiable intangible assets, and accruals for clinical study costs, which are accrued based on estimates of work performed under contract. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses. Actual results could differ from those estimates; however, management does not believe that such differences would be material.

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**4.** **Revenue Recognition**

The Company generates product revenue from sales of the Eversense system and related components and supplies to strategic fulfillment partners and through its consignment network in the United States, as well as to Ascensia Diabetes Care Holdings AG ("Ascensia") and third-party distributors outside the United States (each, a "Customer" and collectively "Customers"), who then resell the products to health care providers and patients. Effective January 1, 2026, in connection with the parties' execution of a Master Asset Purchase Agreement on December 31, 2025 (the "Master Asset Purchase Agreement"), the Company reassumed primary commercialization responsibilities in the United States and began marketing and distributing Eversense products through its own sales force and strategic fulfillment partner network. Ascensia continues to support commercialization activities in certain European territories during a defined transition period.

The Company is paid for its sales directly to the Customers, regardless of whether the Customers resell the products to health care providers and patients. The Company also generates product revenue from sales of the Eversense system and related components and supplies through a consignment model with its network of independent healthcare professionals in the United States and revenue is recognized when the product is consumed by a patient. The Company's policies for recognizing sales have not changed from those described in its Annual Report on Form 10-K for the year ended December 31, 2025.

*Revenue by Geographic Region*

The following table sets forth net revenue derived from the Company's two primary geographical markets, the United States and outside of the United States, based on the geographic location to which the Company delivers the product, for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31, 2026** | **March 31, 2026** |
|  |  | **%** |
| *(Dollars in thousands)* | **Amount** | **of Total** |
| **Revenue, net:** |  |  |
| United States | $9330 | 79.7% |
| Outside of the United States | 2381 | 20.3 |
| &nbsp;&nbsp;Total | $11711 | 100.0% |
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31, 2025** | **March 31, 2025** |
|  |  | **%** |
| *(Dollars in thousands)* | **Amount** | **of Total** |
| **Revenue, net:** |  |  |
| United States | $4495 | 71.8% |
| Outside of the United States | 1762 | 28.2 |
| &nbsp;&nbsp;Total | $6257 | 100.0% |

---

*Contract Assets*

Contract assets consist of unbilled receivables from Customers and are recorded at net realizable value. Included in accounts receivable, net as of March 31, 2026 and December 31, 2025 are unbilled accounts receivable of less than $0.1 million and $2.1 million, respectively, which are related to the timing of billings. Included in accounts receivable – related parties, net are unbilled accounts receivable of $2.3 million and $2.0 million for the periods ended March 31, 2026 and December 31, 2025, respectively, which are related to revenue share variable consideration from the Commercialization Agreement. The Company expects to invoice and collect all unbilled accounts receivable within twelve months.

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*Concentration of Revenue and Customers*

A significant portion of the Company's revenue is derived from one Customer, Ascensia. For the three months ended March 31, 2026 and 2025, sales to Ascensia accounted for 20% and 71% of total revenue, respectively.

A portion of the Company's revenue is earned via consignment arrangements with healthcare providers. For the three months ended March 31, 2026 and 2025, sales under consignment arrangements accounted for 37.3% and 19.6% of total revenue, respectively. During 2025, Ascensia earned commissions on sales made through these consignment arrangements for the support provided by their sales reps and commercial organization. Revenues for these corresponding periods represent sales of sensors, transmitters and miscellaneous Eversense System components.

*Termination and Modification of Commercialization Arrangements*

On September 3, 2025, the Company and Ascensia entered into a memorandum of understanding related to the transition of commercial operations for Eversense from Ascensia back to the Company. On December 31, 2025, the parties executed a Master Asset Purchase Agreement and effective January 1, 2026 the parties entered into an Amended and Restated Collaboration and Commercialization Agreement (the "A&R Commercialization Agreement"), which terminated Ascensia's rights to market Eversense products in the United States and made Ascensia's European commercialization rights non-exclusive.

Following the A&R Commercialization Agreement, Ascensia has no further rights to revenues from sales of Eversense products in the United States, and effective January 1, 2026, the Company is entitled to 100% of revenues from sales in Italy, Germany, Spain and Sweden (the "European Territories"), subject to transitional arrangements. In connection with the transition of U.S. commercialization activities, the Company entered into agreements with certain U.S. strategic fulfillment partners that previously distributed products on behalf of Ascensia, consistent with the Company's historical distribution relationships.

As a result of the termination and modification of the arrangement, the Company reassessed its remaining performance obligations and adjusted related contract assets and contract liabilities in accordance with ASC 606. In connection with the termination, the Company accepted the return of certain unsold inventory previously held by Ascensia, reversed $0.4 million of revenue, and recorded the returned inventory at its estimated net realizable value as of December 31, 2025.

Additional information regarding the Master Asset Purchase Agreement and related transactions is included in Note 17 — Related Party Transactions.

**5.** **Net Loss per Share**

Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. An aggregate of 4,197,554 shares of common stock issuable upon the exercise of the PHC Exchange Warrant (as defined below) and the Purchase Warrant (as defined below) held by PHC Holdings Corporation, the parent company of Ascensia ("PHC") are included in the number of outstanding shares used for the computation of basic net loss per share for the three months ended March 31, 2026 and 2025. Since the shares are issuable for little or no consideration, sometimes referred to as "penny warrants", they are considered outstanding in the context of earnings per share, as discussed in ASC 260-10-45-13.

Diluted net loss per share is computed using the weighted average number of common shares outstanding during the period and, when dilutive, potential common share equivalents. Potentially dilutive common shares consist of shares issuable from restricted stock units ("RSUs"), stock options, warrants and the Company's convertible notes. Potentially dilutive common shares issuable upon vesting of restricted stock units, exercise of stock options and exercise of warrants are determined using the average share price for each period under the treasury stock method. Potentially dilutive common shares issuable upon conversion of the Company's convertible notes are determined using the if-converted method. The if-converted method assumes conversion of convertible securities at the beginning of the

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reporting period. Interest expense, dividends, and the changes in fair value measurement recognized during the period are added back to the numerator. The denominator includes the common shares issuable upon conversion of convertible securities.

In periods of net loss, all potentially dilutive common shares are excluded from the computation of the diluted net loss per share for those periods, as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share for the periods shown:

*(Dollars, in thousands, except per share amounts)*

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| | | |
|:---|:---|:---|
|  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
|  | **2026** | **2025** |
| Net loss | $(32333) | $(14259) |
| Basic weighted average common shares outstanding | 45822486 | 35943880 |
| Net loss per share:  |  |  |
| &nbsp;&nbsp;Basic and diluted | $(0.71) | $(0.40) |

---

Outstanding anti-dilutive securities not included in the diluted net loss per share calculations were as follows:

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
|  | **2026** | **2025** |
| Stock-based awards | 2668604 | 1887857 |
| Warrants | 2357747 | 2357747 |
| Total anti-dilutive shares outstanding | 5026351 | 4245604 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **Composition of Certain Financial Statement Items** 

***Cash, Cash Equivalents, and Restricted Cash***

Cash, cash equivalents, and restricted cash consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,**<br>**2025** |
| Cash | $7794 | $6610 |
| Money market funds | 21818 | 33624 |
| Restricted Cash | 315 | 315 |
| Total cash, cash equivalents, and restricted cash | $29927 | $40549 |

---

The Company's restricted cash relates to collateral for procurement cards issued by a U.S. commercial bank.

***Accounts receivable, net***

Accounts receivable, net consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,**<br>**2025** |
| Accounts receivable | $12335 | $8067 |
| Accounts receivable - related parties | 4056 | 5312 |
| Less: allowance for credit losses | (1680) | (1260) |
| Total accounts receivable, net | $14711 | $12119 |

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***Inventory, net***

Inventory, net of reserves, consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| Finished goods | $3472 | $2580 |
| Work-in-process | 4379 | 3631 |
| Raw materials | 457 | 492 |
| &nbsp;&nbsp;Total | $8308 | $6703 |

---

The Company charged $0.1 million in cost of sales for the three months ended March 31, 2026 and $0.7 million in cost of sales for the year ended December 31, 2025 to reduce the value of inventory for items that are potentially obsolete due to expiry, in excess of product demand, or to adjust costs to their net realizable value.

***Property, equipment and intangible assets, net***

Property, equipment and intangible assets, net, consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| **Property and equipment** |  |  |
| Machinery and laboratory equipment | $4006 | $3904 |
| Office furniture and equipment | 611 | 611 |
| Leasehold improvements | 2209 | 2200 |
| **Intangible assets** |  |  |
| Sensor insertion network assets | 800 | 800 |
| &nbsp;&nbsp;Less: Accumulated depreciation and amortization | (3479) | (3315) |
| Property, equipment and intangible assets, net | $4147 | $4200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **Marketable Securities** 

Marketable securities available for sale were as follows (in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|  | <br>**Amortized**<br>**Cost** | **Gross**<br>**Unrealized**<br>**Gains** | **Gross**<br>**Unrealized**<br>**Losses** | **Estimated**<br>**Market**<br>**Value** |
| Commercial Paper | $1680 | $— | $(1) | $1679 |
| Corporate debt securities | 12484 | 2 | (3) | 12483 |
| Government and agency securities | 20542 | 5 |  | 20547 |
| Total | $34706 | $7 | $(4) | $34709 |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | <br>**Amortized**<br>**Cost** | **Gross**<br>**Unrealized**<br>**Gains** | **Gross**<br>**Unrealized**<br>**Losses** | **Estimated**<br>**Market**<br>**Value** |
| Commercial Paper | $6396 | $3 | $— | $6399 |
| Corporate debt securities | 12452 | 18 |  | 12470 |
| Government and agency securities | 34879 | 48 |  | 34927 |
| Total | $53727 | $69 | $— | $53796 |

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The following are the scheduled maturities as of March 31, 2026 (in thousands):

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| | | |
|:---|:---|:---|
|  | **Net**<br>**Carrying Amount** | **Fair**<br>**Value** |
| 2026 (remaining nine months) | $34706 | $34709 |
| Thereafter |  |  |
| Total | $34706 | $34709 |

---

The Company periodically reviews its portfolio of debt securities to determine if any investment is impaired due to credit loss or other potential valuation concerns. For debt securities where the fair value of the investment is less than the amortized cost basis, the Company assesses at the individual security level, for various quantitative factors including, but not limited to, the nature of the investments, changes in credit ratings, interest rate fluctuations, industry analyst reports, and the severity of impairment. Unrealized losses on available-for-sale securities at March 31, 2026 were not significant and were primarily due to changes in interest rates and not due to increased credit risk associated with specific securities. The Company does not intend to sell these impaired investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8**. **Prepaid Expenses and Other Current Assets** 

Prepaid expenses and other current assets consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| Contract manufacturing<sup>(1)</sup> | $2445 | $1949 |
| Clinical and Preclinical | 848 | 883 |
| Interest receivable | 341 | 311 |
| Sales and marketing | 330 | 492 |
| IT and software | 214 | 310 |
| Other | 448 | 421 |
| &nbsp;&nbsp;Total prepaid expenses and other current assets | $4626 | $4366 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes deposits to contract manufacturers for manufacturing process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **Accrued Expenses and Other Current Liabilities** 

Accrued expenses and other current liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| Sales and marketing services | $8592 | $5028 |
| Professional and administrative services | 4647 | 3784 |
| Compensation and benefits | 3214 | 5271 |
| Research and development | 2187 | 2705 |
| Patient access and incentive programs | 1667 |  |
| Contract manufacturing | 1214 | 1673 |
| Operating lease | 944 | 496 |
| Other | 672 | 1332 |
| &nbsp;&nbsp;Total accrued expenses and other current liabilities | $23137 | $20289 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **Leases** 

The Company leases approximately 33,000 square feet of research and office space for its corporate

headquarters under a non-cancelable operating lease. The Company has one option to extend the term for an additional period of five years beginning on June 1, 2033.

In addition, effective January 1, 2026, in connection with the acquisition of certain U.S. commercial assets under the Master Asset Purchase Agreement with Ascensia, the Company assumed operating leases for a fleet of vehicles used by its U.S. sales force. These leases are classified as operating leases and have remaining lease terms with expirations ranging from May 31, 2028 to June 30, 2030.

The rent expense is recognized on a straight-line basis through the end of the lease term, excluding option renewals. The difference between the straight-line rent amounts and amounts payable under the lease is recorded as deferred lease cost.

Operating lease expense was $0.4 million and $0.2 million for the three months ended March 31, 2026 and 2025.

The following table summarizes the lease assets and liabilities as of March 31, 2026 and December 31, 2025 (in thousands):

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| | | | |
|:---|:---|:---|:---|
| <br>**Operating Lease Assets and Liabilities** | <br>**Balance Sheet Classification** | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| **Assets** |  |  |  |
| Operating lease ROU assets  | Deposits and other assets | $6053 | $4460 |
| **Liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liabilities | Accrued expenses and other current liabilities | $944 | $496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-current operating lease liabilities | Non-current operating lease liabilities | 6285 | 5289 |
| Total operating lease liabilities |  | $7229 | $5785 |

---

The following table summarizes the maturity of undiscounted payments due under operating lease liabilities and the present value of those liabilities as of March 31, 2026 (in thousands):

---

| | |
|:---|:---|
| 2026 (remaining 9 months) | $1269 |
| 2027 | 1685 |
| 2028 | 1649 |
| 2029 | 1346 |
| 2030 | 1148 |
| Thereafter | 2763 |
| Total | 9860 |
| Less: Present value adjustment | (2631) |
| Present value of lease liabilities | $7229 |

---

The following table summarizes the weighted-average lease term and weighted-average discount rate as of March 31, 2026:

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| | |
|:---|:---|
| Remaining lease term (years) | **2026** |
| &nbsp;&nbsp;Operating leases | 6.5 |
| Discount rate |  |
| &nbsp;&nbsp;Operating leases | 9.4% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **Product Warranty Obligations** 

The Company provides a warranty of one year on its smart transmitters. Additionally, the Company may also replace Eversense system components that do not function in accordance with the product specifications. Estimated replacement costs are recorded at the time of shipment as a charge to cost of sales in the consolidated statement of operations and are developed by analyzing product performance data and historical replacement experience, including comparing actual return management authorizations to revenue.

The following table provides a reconciliation of the change in estimated warranty liabilities for the three months ended March 31, 2026, and for the twelve months ended December 31, 2025 (in thousands):

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| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,**<br>**2025** |
| Balance at beginning of the period | $448 | $406 |
| Provision for warranties during the period | 74 | 408 |
| Settlements made during the period | (192) | (366) |
| Balance at end of the period | $330 | $448 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **Notes Payable, Preferred Stock and Stock Purchase Warrants** 

***Term Loans***

**Loan and Security Agreement**

On September 8, 2023 (the "Effective Date"), the Company entered into a loan agreement (the "Loan and Security Agreement") with Hercules Capital, Inc. and its managed fund (collectively, the "Lenders"), pursuant to which the Lenders agreed to make available to Senseonics up to $50.0 million in senior secured term loans (the "Term Loan Facility"), consisting of (i) an initial term loan of $25.0 million, which was funded on the Effective Date, (ii) $10.0 million, which was funded on January 2, 2024 upon meeting certain terms and conditions under the loan agreement, and (iii) $15.0 million which has not been drawn. On September 3, 2025 (the "2025 Effective Date"), the Company entered into the Amended Loan and Security Agreement with the Lenders and Hercules. The Amended Loan and Security Agreement increased the total loan commitment under the facility from $50.0 million to $100.0 million (collectively, the "2025 Term Loans"). In the Amended Loan and Security Agreement, the undrawn loans increased from $15.0 million to $65.0 million divided into three tranches of up to $10.0 million ("2025 Tranche 2 Loan"), up to $20.0 million ("2025 Tranche 3 Loan") and up to $35.0 million ("2025 Tranche 4 Loan"), respectively, each of which will become available to Senseonics upon Senseonics' satisfaction of certain terms and conditions set forth in the Amended Loan and Security Agreement. The loans under the Amended Loan and Security Agreement mature on September 3, 2029 (the "Maturity Date").

The loans under the Amended Loan and Security Agreement bear interest at an annual rate equal to the greater of (i) the prime rate as reported in The Wall Street Journal plus 2.40% and (ii) 9.90%. Borrowings under the Amended Loan and Security Agreement are repayable in monthly interest-only payments through October 1, 2027. The interest-only period will be extended through October 2, 2028 if the Company satisfies the conditions for the 2025 Tranche 2 Loan, and through the maturity date of the loan if the Company satisfies the conditions for both the 2025 Tranche 2 Loan and 2025 Tranche 3 Loan. After the interest-only payment period, borrowings under the Amended Loan and Security Agreement are repayable in equal monthly payments of principal and accrued interest until the Maturity Date.

At the Company's option, the Company may prepay all or any portion of the outstanding borrowings under the Amended Loan and Security Agreement, subject to a prepayment fee equal to (a) 3.0% of the principal amount being prepaid if the prepayment occurs within one year of the 2025 Effective Date, 2.0% of the principal amount being prepaid if the prepayment occurs during the second year following the 2025 Effective Date, and 1.00% of the principal amount being prepaid if the prepayment occurs more than two years after the 2025 Effective Date and prior to the Maturity Date.

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In addition, the Company paid $425,000 in facility fees upon drawing Tranche 1 Loan and Tranche 2 Loan and additional facility fees of $412,500 upon execution of the Amended Loan and Security Agreement. The Company will pay additional facility charges in connection with any borrowing of the 2025 Term Loans, in the amount of 0.50% of the 2025 Tranche 2 Loan and 2025 Tranche 3 Loan and 1.00% of the 2025 Tranche 4 Loan. The Amended Loan and Security Agreement also provides for an end of term fee in an amount equal to 6.45% of the aggregate principal advances of the 2025 Term Loans, which fee is due and payable on the earliest to occur of (i) the Maturity Date, (ii) the date the Company prepays the outstanding loans in full, and (iii) the date that the secured obligations become due and payable. The existing end of term fee under the existing Tranche 1 Loan and Tranche 2 Loan remains payable on September 1, 2027 (the original maturity date). The end of term fees are accreted to interest expense over the term of the loans.

The Company's obligations under the Amended Loan and Security Agreement are secured by a first-priority security interest in substantially all of its assets. The Amended Loan and Security Agreement contains a minimum cash covenant that requires the Company to hold unrestricted cash equal to 80% of the total amounts funded under the Amended Loan and Security Agreement, reduced to 55% and 35% subject to achieving certain milestones under the agreement. The Amended Loan and Security Agreement also contains a performance covenant that commenced on January 1, 2026, that requires the Company to achieve certain net product revenue targets on a trailing six-month basis for applicable measuring periods. The performance covenant shall be waived at any time in which either (a) the Company's market capitalization exceeds $550.0 million and the Company maintains unrestricted cash equal to at least 75% of the total amounts funded, or (b) the Company maintains unrestricted cash equal to at least 100% of the total amounts funded.

In addition, the Amended Loan and Security Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among other things, restrictions on indebtedness, liens, investments, mergers, corporate changes, dispositions, prepayment of other indebtedness, and dividends and other distributions, subject to certain exceptions. The Amended Loan and Security Agreement also contains events of default including, among other things, payment defaults, breach of covenants, material adverse effect, breach of representations and warranties, cross-default to material indebtedness, bankruptcy-related defaults, judgment defaults, revocation of certain government approvals, and the occurrence of certain adverse events. Following an event of default and any applicable cure period, a default interest rate equal to the then-applicable interest rate plus 4.0% may be applied to the outstanding amount, and the Lenders will have the right to accelerate all amounts outstanding under the Loan and Security Agreement, in addition to other remedies available to them as secured creditors of the Company. The Company was in compliance with all covenants as of March 31, 2026.

In addition, in connection with the issuance of the Tranche 1 Loan, the Company issued warrants to the Lenders (collectively, the "Tranche 1 Warrants") to acquire an aggregate of 41,619 shares of the Company's common stock at an exercise price of $12.01 per share (the "Tranche 1 Warrant Shares"). For the Tranche 2 Loan the Company issued additional warrants to the Lenders (collectively, the "Tranche 2 Warrants") to acquire an aggregate of 17,395 shares at an exercise price of $11.50 per share (the "Tranche 2 Warrant Shares"). On the 2025 Effective date, the exercise price of all outstanding warrants was reduced to $9.09 per share (the "Amended Exercise Price"). The Tranche 1 Warrant Shares and Tranche 2 Warrant Shares may be exercised through the earlier of (i) the seventh anniversary of the initial issuance date and (ii) the consummation of certain acquisition transactions involving the Company, as set forth in the Warrants. The number of Tranche 1 Warrant Shares and Tranche 2 Warrant Shares for which the Tranche 1 Warrants and Tranche 2 Warrants are exercisable, and the associated exercise price are subject to certain customary proportional adjustments for fundamental events, including stock splits and reverse stock splits, as set forth in the Warrants. The proceeds from the Loan and Security Agreement were allocated between the Tranche 1 Loan and the Tranche 1 Warrants based on their respective fair value of $25.0 million and $0.4 million, and the amount allocated to the Tranche 1 Warrants was recorded in equity resulting in a debt discount to the Tranche 1 Loan. The Company estimated the fair value of the Tranche 2 Warrants as of the grant date to be $0.1 million and classified the full amount in equity. As a result of the Amended Exercise Price, the value of all outstanding warrants was reduced by $0.2 million. The value of the warrants are amortized as additional interest expense over the term of the Amended Loan and Security Agreement using the effective interest method.

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In connection with Loan and Security Agreement, the Company incurred $1.1 million in debt issuance costs and debt discounts which are netted against the principal balance of the initial term loan and amortized as interest expense over the term of the loan. The Company incurred additional debt discounts of $0.2 million under the Amended Loan and Security Agreement. The Company evaluated Amended Loan and Security Agreement in accordance with ASC 470-50, Debt, and determined that the amendment resulted in a debt modification. Therefore, no loss on debt extinguishment was recognized. The unamortized debt issuance costs and debt discounts are amortized over the revised term of the loan using an effective interest rate of 13.10%.

Pursuant to the Amended Loan and Security Agreement, the Company also agreed to issue additional seven year term warrants upon the funding of the 2025 Tranche 2 Loan, 2025 Tranche 3 Loan, and 2025 Tranche 4 Loan which warrants would be exercisable for an aggregate number of shares equal to 2.0% of the funded loan amount divided by the exercise price equal to the three-day volume-weighted average price at the time of each advance.

Subsequent to March 31, 2026, on May 6, 2026, the Company entered into a Second Amendment to the Amended Loan and Security Agreement, which increased the total loan commitment up to $140.0 million. See Note 19 for additional information.

***Convertible Notes***

*2025 Notes*

In July 2019, the Company issued $82.0 million in aggregate principal amount of senior convertible notes due January 15, 2025 (the "2025 Notes").

Over the term of the 2025 Notes, the Company completed a series of exchanges and conversions that reduced the outstanding principal balance, including (i) the settlement of $24.0 million aggregate principal in April 2020 pursuant to an exchange agreement (ii) conversions of $6.8 million aggregate principal into shares of common stock between September 2020 and January 2021, and (iii) privately negotiated exchange transactions in August and September 2023 under which $30.8 million aggregate principal was exchanged for a combination of cash and shares of common stock.

Following these transactions, approximately $20.4 million aggregate principal amount of the 2025 Notes remained outstanding. On January 15, 2025, the Company repaid the outstanding principal and accrued interest for the 2025 Notes in the full amount of $20.9 million.

The following carrying amounts are outstanding under the Company's notes payable as of March 31, 2026 and December 31, 2025 (in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|  | Principal ($) | Debt (Discount) Premium ($)⁽¹⁾ | Issuance Costs ($) | Carrying Amount ($) |
| Amended Loan and Security Agreement | 35000 | 1065 | (153) | 35912 |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | Principal ($) | Debt (Discount) Premium ($)⁽¹⁾ | Issuance Costs ($) | Carrying Amount ($) |
| Amended Loan and Security Agreement | 35000 | 753 | (167) | 35586 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes accretion of end of term fees payable at maturity

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Interest expense related to the notes payable for the periods presented below is as follows (in thousands):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
|  | Interest Rate | Interest ($) | Debt Discount and Fees ($)⁽¹⁾ | Issuance Costs ($) | Total Interest Expense ($) |
| Amended Loan and Security Agreement | 9.90% | 867 | 312 | 13 | 1192 |
| Total |  | 867 | 312 | 13 | 1192 |
|  | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
|  | Interest Rate | Interest ($) | Debt Discount and Fees ($)⁽¹⁾ | Issuance Costs ($) | Total Interest Expense ($) |
| 2025 Notes | 5.25% | 45 | 256 | 5 | 306 |
| Loan and Security Agreement | 9.90% | 866 | 234 | 23 | 1123 |
| Total |  | 911 | 490 | 28 | 1429 |

---

The following are the scheduled maturities of the Company's notes payable (including end of term fees) as of March 31, 2026 (in thousands):

---

| | |
|:---|:---|
| 2027 | $6622 |
| 2028 | 17829 |
| 2029 | 15239 |
| Total | $39690 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **Stockholders' Equity** 

***Public and Registered Direct Offerings***

On May 15, 2025, the Company entered into an underwriting agreement (the "Underwriting Agreement") with several underwriters for the sale of 5,000,000 shares of its common stock (the "Public Offering"), at a public offering price of $10.00 per share (the "Public Offering Price"). Under the terms of the Underwriting Agreement, the Company also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the Public Offering Price, which the underwriters exercised in full. The Company received aggregate gross proceeds from the Public Offering of $57.5 million. The Company also entered into a securities purchase agreement with Abbott Laboratories ("Abbott") pursuant to which the Company agreed to issue and sell 2,026,963 shares of its common stock substantially concurrently with the Public Offering, at the Public Offering Price, to Abbott for an aggregate purchase price of approximately $20.3 million in a private placement (the "Private Placement"). The Public Offering and Private Placement closed on May 19, 2025 and May 20, 2025, respectively, and the Company received net proceeds of approximately $52.1 million and $20.1 million, respectively, after deducting underwriting discount, commissions, and offering expenses.

Subsequent to March 31, 2026, on May 4, 2026, the Company completed the May 2026 Offering (as defined below) of 8,000,000 shares of its common stock at a public offering price of $5.00 per share and, in lieu of common stock, May 2026 Pre-Funded Warrants (as defined below) to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per May 2026 Pre-Funded Warrant share. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price which was exercised in full. As a result, the Company issued a total of 18,400,000 shares of common stock and pre-funded warrants and received gross proceeds of approximately $92.0 million, before deducting underwriting discounts, commissions and offering expenses.

***ATM Offerings***

On August 6, 2025, the Company entered into an at-the-market sales agreement (the "Sales Agreement") with TD Securities (USA) LLC ("TD Cowen"), under which the Company could offer and sell, from time to time, at its sole discretion, shares of its common stock having an aggregate offering price of up to $100.0 million through TD Cowen as its sales agent in an "at the market" offering, or ATM offering. TD Cowen will receive commissions up to 3.0% of the

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gross proceeds of any common stock sold through TD Cowen under the Sales Agreement. The shares were offered and sold pursuant to an effective shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on August 6, 2025. During the three months ended March 31, 2026, the Company received approximately $3.5 million in proceeds from the sale of 478,067 shares under the Sales Agreement, after deducting sales commissions and offering expenses.

In August 2023, the Company entered into an Equity Distribution Agreement (the "Equity Distribution Agreement") with Goldman Sachs & Co. LLC ("GS"), under which the Company could offer and sell, from time to time, at its sole discretion, shares of its common stock having an aggregate offering price of up to $106.6 million through GS as its sales agent in an "at the market" offering. GS received commissions up to 3.0% of the gross proceeds of any common stock sold through GS under the Equity Distribution Agreement. The shares were offered and sold pursuant to an effective shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on August 10, 2023. On October 24, 2024, the Company amended the Equity Distribution Agreement with GS to reduce the maximum amount of shares issuable thereunder to $55.0 million. On May 15, 2025, in connection with the Public Offering and Private Placement, the Equity Distribution Agreement was terminated. At the time of termination of the Equity Distribution Agreement on May 15, 2025, the Company had received approximately $30.8 million in net proceeds from the sale of 2,006,528 shares under the Equity Distribution Agreement, after deducting sales commissions and offering expenses.

***Stock Purchase Warrants***

The table below summarizes the warrant activity for the three months ended March 31, 2026 (in thousands). This table does not include the PHC Exchange Warrant (as defined below) or the PHC Purchase Warrant (as defined and described below). Such warrants are pre-funded and excluded from the table due to their nominal exercise price of $0.02 per warrant share.

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| | | | |
|:---|:---|:---|:---|
|  | Shares | Exercise price (per share) | Weighted average exercise price (per share) |
| &nbsp;&nbsp;Outstanding, December 31, 2025 | 2357747 | $7.00 to 77.20 | $7.40 |
| &nbsp;&nbsp;Granted |  |  |  |
| &nbsp;&nbsp;Exercised |  |  |  |
| &nbsp;&nbsp;Expired |  |  |  |
| &nbsp;&nbsp;Outstanding and Exercisable, March 31, 2026 | 2357747 | $7.00 to 77.20 | $7.40 |
| &nbsp;&nbsp;Weighted Average Remaining Life, March 31, 2026 (years) | 4.07 |  |  |

---

On June 30, 2016, we entered into a loan agreement with Oxford Finance and Silicon Valley Bank (collectively, the "Lenders") and issued to the Lenders 10-year stock purchase warrants to purchase an aggregate of 5,830, 3,152 and 4,033 shares of common stock at an exercise price of $77.20, $47.60 and $37.20 per share, respectively ("Oxford/SVB Warrants"). The Oxford/SVB Warrants expire on June 30, 2026, November 22, 2026 and March 29, 2027, respectively.

On March 13, 2023, we issued and sold to PHC a warrant to purchase 771,288 shares of common stock for $15.0 million (the "Purchase Warrant"). The Purchase Warrant is a "pre-funded" warrant with a nominal exercise price of $0.02 per share. All or any part of the Purchase Warrant is exercisable by PHC at any time and from time to time.

In March 2023, we entered into an exchange agreement with PHC, pursuant to which PHC exchanged $35.0 million aggregate principal amount of convertible notes due October 31, 2024, including all accrued and unpaid interest thereon, for a warrant (the "PHC Exchange Warrant") to purchase up to 3,426,266 shares of common stock (the "PHC Exchange Warrant Shares"). The PHC Exchange Warrant is a "pre-funded" warrant with a nominal exercise price of $0.02 per PHC Exchange Warrant Share. All or any part of the PHC Exchange Warrant is exercisable by PHC at any time and from time to time.

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On September 8, 2023, we entered into the Loan and Security Agreement with several lenders and issued the Tranche 1 Warrants to acquire an aggregate of 41,619 shares of common stock at an initial exercise price of $12.01 per share. The Tranche 1 Warrants may be exercised through the earlier of (i) September 8, 2030 and (ii) the consummation of certain acquisition transactions involving the company, as set forth in the warrant agreement. On September 3, 2025, the Company and the lenders entered into an amendment to reduce the exercise price to $9.09 per share. All other terms of the warrants, including the expiration date and number of shares issuable upon exercise, remain unchanged**.**

On January 2, 2024, we issued the Tranche 2 Warrants to acquire an aggregate of 17,395 shares at an initial exercise price of $11.50 per share. The Tranche 2 Warrants may be exercised through the earlier of (i) January 2, 2031 and (ii) the consummation of certain acquisition transactions involving the company, as set forth in the warrant agreement. On September 3, 2025, the Company and the lenders entered into an amendment to reduce the exercise price to $9.09 per share. All other terms of the warrants, including the expiration date and number of shares issuable upon exercise, remain unchanged**.**

On October 24, 2024, in connection with a registered direct securities offering, the Company issued to the investors in the offering warrants to purchase an aggregate of 2,285,714 shares of common stock at an exercise price of $7.00 per share. The warrants were non-exercisable for the first six months after issuance and expire on April 29, 2030.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.** **Stock-Based Compensation** 

***2015 Plan***

In December 2015, the Company adopted the 2015 Equity Incentive Plan (the "2015 Plan"), under which incentive stock options, non-qualified stock options and restricted stock units may be granted to the Company's employees and certain other persons, such as officers and directors, in accordance with the 2015 Plan provisions. In February 2016, the Company's Board of Directors adopted, and the Company's stockholders approved, an Amended and Restated 2015 Equity Incentive Plan (the "Amended and Restated 2015 Plan"), which became effective on February 20, 2016. The Company's Board of Directors may terminate the Amended and Restated 2015 Plan at any time. Options granted under the Amended and Restated 2015 Plan expire ten years after the date of grant.

Pursuant to the Amended and Restated 2015 Plan, the number of shares of the Company's common stock reserved for issuance automatically increases on January 1 of each year, ending on January 1, 2026, by 3.5% of the total number of shares of its common stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares as may be determined by its Board of Directors. As of March 31, 2026, 3,009,371 shares remained available for grant under the Amended and Restated 2015 Plan.

***Inducement Plan***

On May 30, 2019, the Company adopted the Senseonics Holdings, Inc. Inducement Plan (the "Inducement Plan"), pursuant to which the Company reserved 90,000 shares of the Company's common stock for issuance. The only persons eligible to receive grants of awards under the Inducement Plan are individuals who satisfy the standards for inducement grants in accordance with Nasdaq Listing Rule 5635(c)(4), including individuals who were not previously an employee or director of the Company, or following a bona fide period of non-employment, as an inducement material to such persons entering into employment with the Company. An "Award" is any right to receive the Company's common stock pursuant to the Inducement Plan, consisting of non-statutory options, restricted stock unit awards and other equity incentive awards. As of March 31, 2026, 27,406 shares remained available for grant under the Inducement Plan.

***Commercial Equity Plan***

On January 30, 2023, the Company adopted the Senseonics Holdings, Inc. 2023 Commercial Equity Plan (the "Commercial Equity Plan"), pursuant to which the Company reserved 500,000 shares of common stock for issuance. Eligible recipients under the plan are non-employees of Senseonics who assist with the commercialization of Eversense. An "Award" is any right to receive the Company's common stock pursuant to the Commercial Equity Plan, consisting of

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non-statutory options and restricted stock unit awards. As of March 31, 2026, 165,753 shares remained available for grant under the Commercial Equity Plan.

***2016 Employee Stock Purchase Plan***

In February 2016, the Company adopted the 2016 Employee Stock Purchase Plan (the "2016 ESPP"). The 2016 ESPP became effective on March 17, 2016. The maximum number of shares of common stock that may be issued under the 2016 ESPP was initially 40,000 shares and automatically increases on January 1 of each year, ending on and including January 1, 2026, by 1.0% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year; provided, however, the Company's Board of Directors may act prior to the first day of any calendar year to provide that there will be no January 1 increase in the share reserve for such calendar year or that the increase in the share reserve for such calendar year will be a lesser number of shares of common stock. As of March 31, 2026, there were 1,806,922 shares of common stock available for issuance under the 2016 ESPP.

The 2016 ESPP permits participants to purchase shares of the Company's common stock through payroll deductions of up to 15% of their earnings. Unless otherwise determined by the administrator, the purchase price of the shares will be 85% of the lower of the fair market value of common stock on the first day of an offering or on the date of purchase. Participants may end their participation at any time. The Company initiated its first 2016 ESPP offering period on August 1, 2019. On January 31, 2026, there were 10,125 shares purchased in connection with the offering period. The 2016 ESPP is considered compensatory for financial reporting purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.** **Fair Value Measurements** 

The following table represents the fair value hierarchy of the Company's financial assets and liabilities measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025 (in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Asset Class** | **Total** | **Level 1** | **Level 2** | **Level 3** |
| ***Cash and Cash Equivalents⁽¹⁾*** |  |  |  |  |
| Money market funds | $21818 | 21818 |  |  |
| ***Short Term Investments*** |  |  |  |  |
| Commercial paper (>3 months) | $1679 |  | 1679 |  |
| Corporate debt securities | 12483 |  | 12483 |  |
| Government and agency securities (>3 months) | 20547 | 20547 |  |  |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Asset Class** | **Total** | **Level 1** | **Level 2** | **Level 3** |
| ***Cash and Cash Equivalents⁽¹⁾*** |  |  |  |  |
| Money market funds | $33624 | 33624 |  |  |
| ***Short Term Investments*** |  |  |  |  |
| Commercial paper (>3 months) | $6399 | $— | 6399 |  |
| Corporate debt securities | 12470 |  | 12470 |  |
| Government and agency securities (>3 months) | 34927 | 34927 |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Classified as cash and cash equivalents due to their short-term maturity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.** **Income Taxes** 

The Company has not recorded any tax provision or benefit for the three months ended March 31, 2026 or 2025. The Company has provided a valuation allowance for the full amount of its net deferred tax assets since realization of any future benefit from deductible temporary differences, NOL carryforwards and research and development credits are not more-likely-than-not to be realized at March 31, 2026 and December 31, 2025.

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**17.** **Related Party Transactions**

PHC has a noncontrolling ownership interest in the Company. In addition, PHC previously appointed two members on the Company's board of directors (which appointment was terminated on January 1, 2026). The Company previously entered into a financing agreement with PHC on August 9, 2020. Ascensia is a related party through the ownership interests of its parent company, PHC.

Revenue from Ascensia during the three months ended March 31, 2026 and 2025 was $2.4 million and $4.4 million, respectively. Ascensia earned commissions of $0.2 million on sales made through our consignment channel during the three months ended March 31, 2025. No such commissions were incurred during the three months ended March 31, 2026 following the transition of U.S. commercialization activities to the Company.

The amount due from Ascensia as of March 31, 2026 and December 31, 2025 was $4.1 million and $5.3 million, respectively. The amount due to Ascensia as of March 31, 2026 and December 31, 2025 was $8.0 million and $5.2 million, respectively.

As discussed in Note 4, on September 3, 2025 the Company and Ascensia signed a memorandum of understanding ("MOU") related to the transition of commercial operations for Eversense from Ascensia back to the Company. On December 31, 2025, the parties executed a Master Asset Purchase Agreement, pursuant to which the Company acquired certain U.S. commercial assets and assumed certain related liabilities, with the initial closing on January 1, 2026. In connection with the Master Asset Purchase Agreement, the parties entered into an A&R Commercialization Agreement, which terminated Ascensia's rights to market Eversense products in the United States and modified Ascensia's commercialization rights in Europe. The parties are cooperating during a defined transition period to ensure continuity of supply, customer support, and patient access. In connection with this transition, the Company hired certain sales and support personnel previously engaged by the counterparty.

The Company paid total consideration of approximately $1.1 million in connection with the closing of the U.S. asset acquisition (the "U.S. Closing"), prior to customary post-closing adjustments. The acquired assets primarily consisted of returned inventory, a right-of-use asset related to vehicle fleet leases, prepaid marketing expenses, and reimbursement of certain employee-related transition costs associated with personnel hired by the Company. A portion of the consideration related to inventory previously recognized as an estimated return as of December 31, 2025. The Company determined that the U.S. Closing represented an asset acquisition.

As contemplated by the Master Asset Purchase Agreement, on March 12, 2026, the parties entered into separate local asset purchase agreements (the "Local Purchase Agreements") covering Italy, Germany, Spain and Sweden (the "European Territories"), pursuant to which the Company agreed to acquire certain additional commercial assets (the "European Purchased Assets") and assume certain related liabilities (the "European Assumed Liabilities" and together with the European Purchased Assets, the "European Asset Purchases") in those territories. The closings of these transactions (the "European Closings") are subject to customary conditions, including regulatory clearances, consents or non-objection with respect to the transfer of tender contracts and the completion of certain required labor and employment processes, and are expected to occur on or before June 30, 2026.

In connection with the Local Purchase Agreements, the parties also entered into a Transition Services Agreement (the "Transition Services Agreement") under which Ascensia will provide certain operational and administrative support services in the European Territories during the transition period, including support in the areas of logistics and ordering, payment and collections, claims processing, IT and systems migration, personnel support, finance and operations support, regulatory compliance, and other agreed services, for which the Company will pay certain costs and service fees. The Company incurred approximately $3.2 million of costs under the Transition Services Agreement during the three months ended March 31, 2026, which were primarily recorded in selling, general and administrative expenses.

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**18.** **Segment Information**

The Company views its operations and manages its business in one operating segment, which also represents one reportable segment which derives its revenues from diabetes products and services. Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker ("CODM"), or decision-making group, in deciding how to allocate resources and in assessing performance. The Company's CODM, its Chief Executive Officer, manages the Company's operations on a consolidated basis for the purpose of allocating resources.

The CODM assesses performance for the segment based on net loss, which is reported in the consolidated statements of operations and comprehensive loss and uses the financial information in deciding on how to invest into the Company. The measure of segment assets is reported on the balance sheets as total assets.

The table below summarizes the significant expense categories regularly reviewed by the CODM for the three months ended March 31, 2026 and 2025:

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Total revenue | $11711 | $6257 |
| Less: |  |  |
| Cost of sales | 4771 | 4752 |
| Sales and marketing expenses | 19730 | 1743 |
| Research and development expenses | 8611 | 7299 |
| General and administrative expenses | 10445 | 5951 |
| Other Segment Items<sup>(1)</sup> | 487 | 771 |
| Net Loss | $(32333) | $(14259) |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Other segment items include interest income, interest expense, and other expense as presented in the Company's consolidated statements of operations and comprehensive loss .

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**19.** **Subsequent Events**

The Company has evaluated all subsequent events through the filing date of this Form 10-Q with the SEC, to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of March 31, 2026, and events which occurred subsequently but were not recognized in the financial statements. Except as described below there were no other subsequent events which required recognition, adjustment to or disclosure in the financial statements.

***Underwritten Public Offering***

On April 30, 2026, the Company entered into an underwriting agreement (the "April 2026 Underwriting Agreement") with TD Securities (USA) LLC and Barclays Capital Inc., as representatives of the several underwriters named therein, pursuant to which the Company agreed to issue and sell an aggregate of 8,000,000 shares of Common Stock and 8,000,000 pre-funded warrants, each representing the right to purchase one share of Common Stock at an exercise price of $0.001 per share (the "May 2026 Pre-Funded Warrants"), at a price to the public of $5.00 per share (or $4.999 per May 2026 Pre-Funded Warrant) (the "May 2026 Offering"). Under the terms of the April 2026 Underwriting Agreement, the Company also granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 2,400,000 shares of Common Stock. The May 2026 Offering closed on May 4, 2026, and the underwriters exercised in full their option to purchase 2,400,000 additional shares of Common Stock. In the aggregate, the Company sold 10,400,000 shares of Common Stock and 8,000,000 May 2026 Pre-Funded Warrants, with aggregate gross proceeds to the Company of approximately $92.0 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. The net proceeds to the Company were approximately $86.0 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.

***Second Amendment to Loan and Security Agreement***

On May 1, 2026, the Company entered into a Second Amendment to Loan and Security Agreement (the "Second Amendment") with the Lenders and Hercules, which further amended the Amended Loan and Security Agreement. Pursuant to the Second Amendment, the Lenders agreed to make available to the Company up to $140.0 million in senior secured term loans, consisting of (i) the initial term loan of $35.0 million, which was previously funded, (ii) a term loan of $10.0 million (the "2026 Tranche 2 Loan") to be funded at the closing of the Second Amendment, (iii) four additional tranches of term loans in the amounts of up to $10.0 million (the "2026 Tranche 3A Loan"), $10.0 million (the "2026 Tranche 3B Loan"), $15.0 million (the "2026 Tranche 4 Loan") and an uncommitted $60.0 million (the "2026 Tranche 5 Loan"), respectively, which will become available to the Company upon the Company's satisfaction of certain terms and conditions set forth in the Amended Loan Agreement. The loans under the Amended Loan Agreement continue to mature on September 3, 2029. The Second Amendment closed on May 6, 2026 (the "Amendment Closing Date"), and both the 2026 Tranche 2 Loan and 2026 Tranche 3A Loan were funded at closing for total proceeds of $20.0 million.

The loans under the Amended Loan Agreement, as modified by the Second Amendment, bear interest at an annual rate equal to the greater of (i) the prime rate as reported in The Wall Street Journal plus 2.40% and (ii) 9.90%. Borrowings are repayable in monthly interest-only payments through (a) October 1, 2028 and (b) if the Company satisfies the 2025 Tranche 3B Milestone (as defined in the Amended Loan Agreement), the Maturity Date. After the interest-only payment period, borrowings are repayable in equal monthly payments of principal and accrued interest until the Maturity Date. At the Company's option, the Company may prepay all or any portion of the outstanding borrowings, subject to a prepayment fee equal to (a) 3.0% of the principal amount being prepaid if the prepayment occurs within one year of the Amendment Closing Date, (b) 2.0% of the principal amount being prepaid if the prepayment occurs during the second year following the Amendment Closing Date, and (c) 1.00% of the principal amount being prepaid if the prepayment occurs more than two years after the Amendment Closing Date and prior to the Maturity Date. In addition, a $100,000 facility fee and a $100,000 amendment fee were payable on the Amendment Closing Date and the Company will pay additional facility fees in the amount of 0.50% of any drawn 2026 Tranche 3B Loan, or in the amount of 1.00% of any drawn 2026 Tranche 4 Loan or 2026 Tranche 5 Loan.

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**ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*Certain statements contained in this Quarterly Report on Form 10-Q may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "plan," "project," "expect," or similar expressions, or the negative of such words or phrases, are intended to identify "forward-looking statements." We have based these forward-looking statements on our current expectations and projections about future events. Because such statements include risks, uncertainties, and assumptions, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to these differences include those described below and elsewhere in this Quarterly Report on Form 10-Q, and in our Annual Report on Form 10-K, particularly in Part I – Item 1A, "Risk Factors," and our other filings with the Securities and Exchange Commission. Statements made herein are as of the date of the filing of this Quarterly Report on Form 10-Q with the Securities and Exchange Commission and should not be relied upon as of any subsequent date. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim, any obligation to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.* 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited financial statements and related notes that appear in Item 1 of this Quarterly Report on Form 10-Q and with our audited financial statements and related notes for the year ended December 31, 2025, which are included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2026. Unless otherwise indicated or the context otherwise requires, all references in this "Management's Discussion and Analysis of Financial Condition and Results of Operations" section to the "Company," "we," "our," "ours," "us" or similar terms refer to Senseonics Holdings, Inc. and its consolidated subsidiaries and affiliated entities, as appropriate, including its consolidated VIEs.

Unless otherwise indicated, all information in this Quarterly Report on Form 10-Q gives effect to a 1-for-20 reverse stock split of our common stock that became effective on October 17, 2025 (the "Reverse Stock Split"), and all references to historical share and per share amounts give effect to the Reverse Stock Split.

***Overview***

We are a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Our implantable CGM systems, including the Eversense E3 system ("Eversense E3") and the Eversense 365 system ("Eversense 365" and, together with Eversense E3, "Eversense" or the "Eversense Systems"), are designed to continually and accurately measure glucose levels in people with diabetes via an under-the-skin sensor, a removable and rechargeable smart transmitter, and a convenient app for real-time diabetes monitoring and management for a period of up to six months in the case of Eversense E3 and up to twelve months in the case of Eversense 365, as compared to seven to 15 days for non-implantable CGM systems. As described in more detail below, in August 2020, we entered into a collaboration and commercialization agreement ("Existing Commercialization Agreement"), with Ascensia Diabetes Care Holdings AG ("Ascensia") pursuant to which we granted Ascensia the exclusive right to distribute Eversense worldwide, with certain initial exceptions. In February 2022, Eversense E3, a 180 day CGM system, was approved by the FDA and Ascensia began commercializing Eversense E3 in the United States in the second quarter of 2022. In June 2022, we affixed the CE Mark to the extended life Eversense E3 system and Ascensia began commercialization in select markets in Europe during the third quarter of 2022. In September 2024, Eversense 365, a 365-day extended life CGM system, was approved by the FDA and Ascensia began commercializing Eversense 365 in the United States in the fourth quarter of 2024. In January 2026, we took over full commercial responsibility for Eversense 365 in the United States and began marketing and distributing the product with our own sales force. In January 2026, we also obtained CE Mark approval for Eversense 365 and are currently in the process of launching Eversense 365 in Italy, Germany, Spain and Sweden (the "European Territories").

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On September 3, 2025 the Company and Ascensia signed a memorandum of understanding ("MOU") related to the transfer of commercial operations relating to Eversense from Ascensia back to the Company. On December 31, 2025, the parties entered into the Master Asset Purchase Agreement formalizing this transfer and subsequently entered into A&R Commercialization Agreement, which terminated Ascensia's right to market Eversense products in the U.S. and rendered Ascensia's right to market Eversense products in Italy, Germany, Spain and Sweden (the "European Territories") non-exclusive. Pursuant to the A&R Commercialization Agreement, effective January 1, 2026, we are entitled to 100% of the revenues derived from the sale of Eversense products in the European Territories. As contemplated by the Master Asset Purchase Agreement, on March 12, 2026 we entered into local asset purchase agreements to facilitate the transition of Ascensia's commercialization activities in the European Territories and we expect the closings of these transactions to occur on or before June 30, 2026, subject to customary regulatory and operational conditions.

Our net revenues are derived from sales of the Eversense CGM system which includes the Eversense Sensor Pack containing the sensor, insertion tool, and adhesive patches, the Eversense Smart Transmitter Pack containing the transmitter and charger and in some cases the procedure revenue associated with insertions and removals.

We primarily sell directly to our network of distributors and strategic fulfillment partners, who provide the Eversense system to healthcare providers and patients through a prescribed request and invoice insurance payors for reimbursement. In addition, we sell our product through a consignment model through arrangements with our network of healthcare professionals. Sales of the Eversense system are widely dependent on the ability of patients to obtain coverage and adequate reimbursement from third-party payors or government agencies. We leverage and target regions where we have coverage decisions for patient device use and provider insertion and removal procedure payment. We have reached approximately 300 million covered lives in the United States through positive insurance payor coverage decisions. In June 2023, we received positive payor coverage decision from UnitedHealthcare, the largest healthcare insurance company in the United States that effective July 1, 2023, Eversense E3 would be covered. On August 3, 2020, the Center for Medicare and Medicaid Services ("CMS") released its Calendar Year 2021 Medicare Physician Fee Schedule Proposed Rule that announces proposed policy changes for Medicare payments, including the proposed establishment of national payment amounts for the three CPT© Category III codes describing the insertion (CPT 0446T), removal (0447T), and removal and insertion (0048T) of an implantable interstitial glucose sensor, which describes our Eversense Systems, as a medical benefit, rather than as part of the Durable Medical Equipment channel that includes other CGMs. In December 2021, CMS released its Calendar Year 2022 Medicare Physician Fee Schedule that updated bundled payments for the device cost and procedure fees. In November 2022, CMS released its Calendar Year 2023 Medicare Physician Fee Schedule Proposed Rule that updates the payment amounts for the three CPT© III codes to account for the longer 6-month sensor. In February 2024, we announced that Medicare coverage was expanded for Eversense E3 to include all people with diabetes using insulin and non-insulin users who have a history of problematic hypoglycemia providing access to millions of Medicare patients. In April 2025, CMS updated the payment amounts in the Physician Fee Schedule to account for the longer duration Eversense 365 for all eligible Medicare beneficiaries. The Physician Fee Schedule was updated with similar pricing for 2026. We have been working with payors that previously supported Eversense to transition their policies to Eversense 365 and the majority of these eligible payors have now completed that transition.

In February 2020, we announced that the FDA approved a subgroup of PROMISE trial participants to continue for a total of 365 days to gather feasibility data on the safety and accuracy of a 365-day sensor. This sub-set of 30 participants was left undisturbed for 365 days with the goal of measuring accuracy and longevity over the full 365 days. Information gathered from this sub-set and additional development efforts provided us the confidence to start the ENHANCE pivotal study of Eversense 365. The ENHANCE pivotal study of Eversense 365 completed enrollment, the last patient of the adult cohort completed the study, and we completed our analysis of the data. Based on this analysis, we determined to advance to the next generation sensor platform as the underlying technology used in the 365-day and future products. In May 2024, this data supported an FDA 510(k) submission for a new product with a 365-day duration and once per week calibration. The 510(k) submission was approved by the FDA on September 17, 2024 and Eversense 365 was cleared for sale in the United States.

We continue to expand commercialization of the Eversense brand and are focused on driving awareness of our CGM system amongst people with diabetes and their healthcare providers. Effective January 1, 2026, U.S.

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commercialization activities were returned to the Company and in Europe, Ascensia continues to sell and market the Eversense product to support the orderly transition of the business to Senseonics anticipated in the second quarter of 2026. In both the United States and our overseas markets we will commercialize the products with direct sales forces and distribution systems that market and promote our various Eversense Systems and future generation products, including our Gemini and Freedom product variations. The Gemini product will allow for a 2-in-1 glucose monitoring system combining the functionality of CGM and flash glucose monitoring, in an implantable sensor with battery that may be utilized with a smart transmitter to get continuous glucose readings and alerts, or be utilized through a swipe over the sensor with a smart phone to get on-demand glucose reading without a smart transmitter. Our Freedom product variation is being designed to include Bluetooth in the sensor, eliminating the on-body component.

***United States Development and Commercialization of Eversense***

In 2016, we completed our PRECISE II pivotal clinical trial in the United States. This trial, which was fully enrolled with 90 subjects, was conducted at eight sites in the United States. In the trial, we measured the accuracy of the Eversense 90 system ("Eversense 90") measurements through 90 days after insertion. We also assessed safety through 90 days after insertion or through sensor removal. In the trial, we observed a mean absolute relative difference ("MARD"), of 8.5% utilizing two calibration points for Eversense 90 across the 40-400 mg/dL range when compared to YSI blood reference values during the 90-day continuous wear period. Based on the data from this trial, in October 2016 we submitted a pre-market approval ("PMA") application to the FDA to market Eversense 90 in the United States for 90-day use. In June 2018, we received PMA approval from the FDA for the Eversense 90 system. In July 2018, we began distributing the 90-day Eversense 90 system directly in the United States through our own direct sales and marketing organization. We have received Category III CPT codes for the insertion and removal of the Eversense 90 sensor.

In December 2018, we initiated the PROMISE pivotal clinical trial to evaluate the safety and accuracy of Eversense 90 for a period of up to six months in the United States and on September 30, 2019, we completed enrollment of the PROMISE trial. In the trial, we observed performance matching that of the then current Eversense 90 available in the United States, with a MARD of 8.5%. This result was achieved with reduced calibration, down to one per day, while also doubling the sensor life to six months. Following the results of the PROMISE trial, on September 30, 2020, a PMA supplement application to extend the wearable life of Eversense 90 to six months was submitted to the FDA. In February 2022, the extended life Eversense E3 was approved by the FDA.

On February 26, 2020, we announced that the FDA approved a subgroup of PROMISE trial participants to continue for a total of 365 days to gather feasibility data on the safety and accuracy of a 365-day sensor. This sub-set of 30 participants was left undisturbed for 365 days with the goal of measuring accuracy and longevity over the full 365 days. Information gathered from this sub-set and additional development efforts provided us with the confidence to start the Pivotal study for Eversense 365.

In April 2020, we announced that we received an extension to our CE Certificate of Conformity in the EEA such that the Eversense XL is no longer contraindicated for MRI, which means the sensor does not need to be removed from under the skin during MRI scanning. We had previously obtained this indication for Eversense 90 in the United States in 2019. This MRI approval is a first for the CGM category, as all other sensors are required to be removed during an MRI scan.

On August 9, 2020, we entered into the Commercialization Agreement pursuant to which we granted Ascensia the exclusive right to distribute Eversense 90 and Eversense E3 worldwide, with certain initial exceptions. Pursuant to the Commercialization Agreement, in the United States, Ascensia began providing sales support for the Eversense 90 product on October 1, 2020 and Ascensia ramped up sales activities and assumed commercial responsibilities for Eversense 90 during the second quarter of 2021.

On September 3, 2025, the Company and Ascensia signed the MOU related to the transfer of commercial operations relating to Eversense from Ascensia back to the Company, including the proposed termination, orderly unwinding of, and smooth transition of the commercial relationship between the Company and Ascensia. On December 31, 2025, the Company and Ascensia entered into the Master Asset Purchase Agreement, pursuant to which, among

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other things, the Company agreed to acquire Ascensia's right, title and interest in and to certain assets related to the marketing, selling and distribution of Eversense in the United States (such assets, the "U.S. Purchased Assets").

Pursuant to the terms of the Master Asset Purchase Agreement, the Company agreed to assume certain liabilities and obligations associated with the U.S. Purchased Assets (the "U.S. Assumed Liabilities" and together with the U.S. Purchased Assets, the "U.S. Asset Purchase"), including, but not limited to, certain liabilities under the contracts transferred to the Company under the Master Asset Purchase Agreement, liabilities arising out of the use or ownership of the transferred assets after the closing, and liabilities and obligations arising from certain employees who were offered employment with Senseonics Inc. pursuant to new employment letter agreements. The U.S. Asset Purchase closed on January 1, 2026 (the "U.S. Closing").

In connection with the execution of the Master Asset Purchase Agreement, the Company and Ascensia also entered into the A&R Commercialization Agreement on December 31, 2025, which amended and restated the Existing Commercialization Agreement. The A&R Commercialization Agreement terminated Ascensia's right to market Eversense products in the U.S. Following the U.S. Closing, Ascensia has no further rights to revenues from the sale of Eversense products in the U.S.

In February 2022, we received approval from the FDA for Eversense E3. The approval for our third-generation sensor, with proprietary sacrificial boronic acid ("SBA") technology doubles the sensor life to six months with MARD of 8.5%. Ascensia began commercializing Eversense E3 in the United States during the second quarter of 2022.

The ENHANCE clinical study was initiated as a pivotal study with the purpose of gathering additional clinical data to support an integrated continuous glucose monitoring ("iCGM") submission for Eversense E3 using the SBA technology. In March 2022, we extended the ongoing ENHANCE clinical study to evaluate the safety and accuracy of Eversense 365 for a period of up to one year in the United States. In September 2022, we completed enrollment of the ENHANCE study and the last patient of the adult cohort completed the study in the third quarter of 2023. In November 2022, we submitted and in the first quarter of 2023 we received approval of an investigational device exemption ("IDE") for the enrollment of a pediatric cohort in the ENHANCE study. In 2023 the data gathered in the ENHANCE study supported the iCGM submission and in April 2024, Eversense 365 was authorized to be marketed as an iCGM through the FDA's De Novo pathway, by establishing the special controls that will serve as a predicate device for 510(k) submissions in the future. Based on the analysis of the ENHANCE Pivotal study data, the decision was made to advance to the next generation sensor platform as the underlying technology used in the 365-day and future products. In May 2024, this data supported an FDA 510(k) submission for a new product with a 365-day duration and once per week calibration. The 510(k) submission was approved by the FDA on September 17, 2024 and Eversense 365 product was cleared for sale in the United States. Ascensia began commercializing Eversense 365 in the United States during the fourth quarter of 2024.

In an effort to accelerate commercialization efforts and address challenges to Eversense adoption, in April 2024 and July 2024, we established new legal entities, Eon Care Services, LLC and Eon Management Services, LLC, which were formed as wholly owned subsidiaries of Senseonics, Incorporated. In November 2024, Eon Management Services, LLC entered into management services agreements (the "Administrative Agreement") for an initial fixed term of 10 years with the Eon Care PCs, which were created to support patient access to the Eversense Systems by contracting nurse practitioners and other healthcare professionals to perform Eversense insertion procedures and other clinical activities. On April 1, 2026, Eon Management Services, LLC entered into an additional management services agreement with an additional professional corporation with an initial fixed term of 10 years. The Eon Care PCs are consolidated as VIEs.

The wholly owned entities and Eon Care PCs (collectively, "Eon Care") were established to support patient access to the Eversense systems by providing convenient Eversense insertion and training services. We fully completed the transition of our network of inserters from the Nurse Practitioner Group to Eon Care in the second quarter of 2025, and we experienced an increase in the number of insertions since then. Once we build out and establish the Eon Care network, we expect established CPT codes associated with Eversense insertions to enable a self-sustaining economic model for this initiative in the future.

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We have also sought to complement commercialization efforts by establishing a consignment program, whereby we sell the Eversense system and related components and supplies through a network of healthcare professionals, and supporting certain commercial programs such as direct to consumer ("DTC") spending, certain key account activities, and market access support. We are determined to increase investment in supporting DTC spending, which we believe correlates with higher awareness and adoption of Eversense. Although the rate of Eversense adoption and lead generation has increased following these initiatives, as well as the regulatory approval of Eversense 365, we continue to work on ways to accelerate commercialization and adoption of our product.

In July 2024, we began first-in-human testing for the Gemini product. The next-generation Gemini product utilizes a fully implantable self-powering system that includes a flash glucose monitor with no on-body component for people with type 2 diabetes and traditional CGM with an on-body component for people with type 1 diabetes. The Gemini product is built on the 365-day sensor platform and the clinical and regulatory work will be focused on demonstrating the battery integration and functionality rather than the sensor life. Data gathered from this first-in-human testing was utilized for an IDE submission that was approved by the FDA in December 2025 which allowed us to begin enrolling patients in the Gemini pivotal study.

***European Commercialization of Eversense***

In September 2017, we affixed the CE Mark for Eversense XL which permits the product to be sold freely in any part of the EEA. Eversense XL is indicated for a sensor life of up to 180 days. Eversense XL began commercialization in Europe in the fourth quarter of 2017. All such commercialization and marketing activities remain subject to applicable government approvals.

In June 2022, we affixed the CE Mark to Eversense E3, and Ascensia began commercialization in European markets during the second half of 2022.

In February 2025, we submitted an application for the conformity assessment of Eversense 365 to our Notified Body for certification. The submission was prepared in compliance with the EU medical device regulation. In January 2026, the Company obtained CE Mark approval for Eversense 365 and are currently in the process of launching Eversense 365 in the European Territories.

The A&R Commercialization Agreement rendered Ascensia's right to market Eversense products in the European Territories non-exclusive. Ascensia agreed to continue to sell and market the Eversense product in Europe to support the orderly transition of the business pending the closing of the European Asset Purchases and to allow Senseonics to transfer its local tender contracts. These rights and obligations apply from January 1, 2026 until the later of (i) January 1, 2027, (ii) the transfer of all local tender contracts, or (iii) the wind down of certain other commercial activities. Pursuant to the A&R Commercialization Agreement, effective January 1, 2026, the Company is entitled to 100% of the revenues derived from the sale of Eversense products in the European Territories. Senseonics will pay for certain transition services, and certain other costs, to maintain and achieve the orderly transition of the commercial operations in the European Territories. The Company and Ascensia executed separate local asset purchase agreements in the European Territories on March 12, 2026, in connection with the European Asset Purchases.

**Financial Overview**

A significant portion of our product revenue has historically been generated from sales of the Eversense system and related components and supplies to Ascensia, through the Commercialization Agreement, who then resells the products to health care providers and patients. Effective January 1, 2026, in connection with the transition of U.S. commercialization activities to the Company, we began generating a greater portion of our product revenue through direct sales to strategic fulfillment partners and through our consignment network in the United States, while Ascensia continues to support commercialization activities outside the United States during a defined transition period.

Revenue from product sales to Ascensia is recognized at a point in time when Ascensia obtains control of our product based upon the delivery terms as defined in the contract at an amount that reflects the consideration which we expect to receive in exchange for the product. Our contract with Ascensia contains performance obligations, mostly for

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the supply of goods, and are typically satisfied upon transfer of control of the product and does not include the right to return unless there is a product issue, in which case we may provide replacement product. Product conformity guarantees do not create additional performance obligations and are accounted for as warranty obligations in accordance with guarantee and loss contingency accounting guidance.

The consideration we expect to receive includes estimates of variable consideration for which reserves are established that is primarily the result of variable consideration such as patient assistance program rebates, prompt-pay discounts, tier-volume price discounts and for the Commercialization Agreement, revenue share. Variable consideration, such as rebates and prompt-pay incentives, are treated as a reduction in revenue and variable considerations, such as revenue share, is treated as an addition in revenue when the product sale is recognized. The amount of variable consideration that is included in the transaction price may be constrained and is included in revenue only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period, when the uncertainty associated with the variable consideration is subsequently resolved. Estimating variable consideration and the related constraint requires the use of significant management judgment. Depending on the variable consideration, we develop estimates for the expected value based on the terms of the agreements, historical data, geographic mix, reimbursement rates, and market conditions. Variances in the consideration recognized is partially mitigated by minimum price provisions for certain purchases under the contract.

Under the consignment model, small quantities of inventory are held at healthcare provider locations to ensure availability when a patient is identified. No revenue is recognized upon delivery of our products to the healthcare provider locations, as we retain the ability to control the inventory. Rather, revenue is recognized when the product is consumed by a patient.

Contract assets consist of unbilled receivables from customers and are recorded at net realizable value and relate to the timing of billings and revenue share variable consideration from the Commercialization Agreement.

*Concentration of Revenue and Customers*

A significant portion of the Company's revenue has historically been derived from one customer, Ascensia. For the three months ended March 31, 2026 and 2025, sales to Ascensia accounted for 20% and 71% of total revenue, respectively.

A portion of the Company's revenue is earned under consignment arrangements with healthcare providers. For the three months ended March 31, 2026 and 2025, sales under consignment arrangements accounted for 37.3% and 19.6% of total revenue, respectively. During 2025, Ascensia earned commission on sales made through these consignment arrangements for the support provided by their sales reps and commercial organization. Revenues for these corresponding periods represent sales of sensors, transmitters and miscellaneous Eversense System components.

*Termination and Modification of Commercialization Arrangements*

On September 3, 2025 the Company and Ascensia signed a memorandum of understanding related to the transfer of commercial operations relating to Eversense from Ascensia back to the Company, including the proposed termination, orderly unwinding of, and smooth transition of the commercial relationship between the Company and Ascensia. On December 31, 2025, the parties entered into the Master Asset Purchase Agreement and the A&R Commercialization Agreement, pursuant to which commercial activities in the United States transitioned back to the Company effective January 1, 2026 and the commercialization rights in certain European Territories were modified to be non-exclusive. The parties continue to cooperate through the transition period to ensure continuity of supply, customer support, and patient access. Following the execution of the A&R Commercialization Agreement, the Company will no longer recognize revenue associated with U.S. product sales to Ascensia under the distribution arrangement. As a result, our revenues and results of operations will not be directly comparable to our historical revenues and results of operations for periods in which the Commercialization Agreement was in place.

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*Revenue by Geographic Region*

The following table sets forth net revenue derived from our two primary geographical markets, the United States and outside of the United States, based on the geographic location to which we deliver the product, for the three months ended March 31, 2026 and 2025:

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31, 2026** | **March 31, 2026** |
|  |  | **%** |
| *(Dollars in thousands)* | **Amount** | **of Total** |
| **Revenue, net:** |  |  |
| United States | $9330 | 79.7% |
| Outside of the United States | 2381 | 20.3 |
| &nbsp;&nbsp;Total | $11711 | 100.0% |
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31, 2025** | **March 31, 2025** |
|  |  | **%** |
| *(Dollars in thousands)* | **Amount** | **of Total** |
| **Revenue, net:** |  |  |
| United States | $4495 | 71.8% |
| Outside of the United States | 1762 | 28.2 |
| &nbsp;&nbsp;Total | $6257 | 100.0% |

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**Results of Operations for the Three Months Ended March 31, 2026 and 2025**

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | |
|  | **March 31,**  | **March 31,**  | |
|  | **2026** | **2025** | <br>**Period-to-**<br>**Period Change** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Revenue, net | $9341 | $1810 | $7531 |
| Revenue, net - related parties | 2370 | 4447 | (2077) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 11711 | 6257 | 5454 |
| Cost of sales | 4771 | 4752 | 19 |
| Gross profit | 6940 | 1505 | 5435 |
| Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development expenses | 8611 | 7299 | 1312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 30175 | 7694 | 22481 |
| Operating loss | (31846) | (13488) | (18358) |
| Other (expense) income, net: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 742 | 675 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (1192) | (1429) | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense | (37) | (17) | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense), net | (487) | (771) | 284 |
| Net Loss | $(32333) | $(14259) | $(18074) |

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*Total revenue*

Our total revenue increased to $11.7 million for the three months ended March 31, 2026, compared to $6.3 million for the three months ended March 31, 2025, an increase of $5.4 million. This increase was primarily driven by sales growth in the US largely due to growth in the consignment program and 365-day product demand. The increase in total revenue was further driven by the elimination of Ascensia revenue share amounts following the termination of

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Ascensia's commercialization rights in the United States and the transition of commercialization activities in the European Territories to a non-exclusive arrangement.

*Cost of sales and gross profit*

Our cost of sales remained consistent at $4.8 million for the three months ended March 31, 2026 and the three months ended March 31, 2025. Our gross profit increased to $6.9 million for the three months ended March 31, 2026, compared to $1.5 million for the three months ended March 31, 2025. Gross profit as a percentage of revenue, or gross margin, was 59.3% and 24.1% for the three months ended March 31, 2026, and March 31, 2025, respectively. The improvement in gross margin is largely driven by favorable margins on the 365-day product sales, higher consignment network sales with ASP favorability, the elimination of the Ascensia revenue share and consistent fixed manufacturing costs. In addition, we recognized a one-time benefit of $0.5 million related to a change in estimate of previously accrued E3 product shutdown costs.

*Research and development expenses*

Research and development expenses were $8.6 million for the three months ended March 31, 2026, compared to $7.3 million for the three months ended March 31, 2025, an increase of $1.3 million. This increase was primarily driven by the ramp up of our Gemini pivotal study driving efforts to eliminate the on-body transmitter component and additional product development projects.

*Selling, general and administrative expenses*

Selling, general and administrative expenses were $30.2 million for the three months ended March 31, 2026, compared to $7.7 million for the three months ended March 31, 2025, representing an increase of $22.5 million. The increase consisted of $18.0 million higher selling and marketing costs largely driven by re-assuming commercialization activities resulting in a large increase in our headcount and increased marketing spend largely consisting of direct-to-consumer marketing initiatives. Our total general and administrative costs increased by $4.5 million driven by newly assumed operational responsibilities related to the commercial integration, as well as legal, IT and consulting costs associated with the establishment of business operations to support the transition of European commercialization activities to the Company.

*Total other income (expense), net*

Total other income (expense), net was $(0.5) million for the three months ended March 31, 2026, compared to other expense, net of ($0.8) million for three months ended March 31, 2025, a decrease in other income (expense), net of $0.3 million. The change was primarily due to a $0.2 million decrease in interest expense offset by a $0.1 million increase in interest income.

**Liquidity and Capital Resources**

***Sources of Liquidity***

From its founding in 1996 until 2010, the Company has devoted substantially all of its resources to researching various sensor technologies and platforms. Beginning in 2010, the Company narrowed its focus to developing and refining a commercially viable glucose monitoring system. The Company has incurred substantial losses and cumulative negative cash flows from operations since its inception in October 1996 and expects to incur additional losses in the near future. We incurred total net loss of $(69.1) million and $(78.6) million for the years ended December 31, 2025 and 2024, respectively. For the three months ended March 31, 2026, the Company had a net loss of $(32.3) million, and an accumulated deficit of $(1.0) billion. To date, the Company has funded its operations principally through the issuance of preferred stock, common stock, warrants, convertible notes, and debt. As of March 31, 2026, the Company had unrestricted cash, cash equivalents, and marketable securities of $64.3 million.

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In the recent years, we have taken a number of measures to strengthen our financial position, including but not limited to the following actions:

*Equity Offerings*

In August 2025, we entered into an at-the-market sales agreement (the "Sales Agreement") with TD Securities (USA) LLC ("TD Cowen"), under which we may offer and sell, from time to time, at our sole discretion, shares of common stock having an aggregate offering price of up to $100.0 million through TD Cowen as its sales agent in an "at the market" offering. TD Cowen will receive commissions up to 3.0% of the gross proceeds of any common stock sold through TD Cowen under the Sales Agreement. The shares will be offered and sold pursuant to an effective shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on August 6, 2025. During the twelve months ended December 31, 2025, we received approximately $2.4 million proceeds from the sale of 334,330 shares under the Sales Agreement, after deducting sales commissions and offering expenses. During the three months ended March 31, 2026, the Company received approximately $3.5 million proceeds from the sale of 478,067 shares under the Sales Agreement, after deducting sales commissions and offering expenses. As of March 31, 2026, an aggregate of $93.8 million remained available for issuance under the Sales Agreement.

On April 30, 2026, we entered into an underwriting agreement with TD Cowen and Barclays Capital Inc., as representatives of the several underwriters named therein, for the sale of shares of Common Stock and pre-funded warrants, each representing the right to purchase one share of Common Stock at an exercise price of $.001 per share (the "May 2026 Pre-Funded Warrants"), at a price to the public of $5.00 per share (or $4.999 per May Pre-Funded Warrant) (the "May 2026 Offering"). The May 2026 Offering closed on May 4, 2026, and the underwriters exercised in full their option to purchase 2,400,000 additional shares of Common Stock. In the aggregate, we sold 10,400,000 shares of Common Stock and 8,000,000 May 2026 Pre-Funded Warrants in the May 2026 Offering, generating aggregate gross proceeds of approximately $92.0 million, before deducting underwriting discounts and commissions and offering expenses payable by us. The net proceeds to Senseonics were approximately $86.0 million, after deducting underwriting discounts and commissions and estimated offering expenses. The securities were offered and sold pursuant to an effective shelf registration statement on Form S-3 (File No. 333-289306).

***Indebtedness***

*Amended Loan and Security Agreement*

On September 8, 2023, the Company entered into the Loan and Security Agreement with the Lenders and Hercules. The Company and Hercules have amended this agreement on two occasions, most recently on May 1, 2026 (as amended, the "Amended Loan and Security Agreement"). Under the Amended Loan and Security Agreement, the Lenders have agreed to make available to the Company the Term Loan Facility, providing for an aggregate of up to $140.0 million of loans. To date, Hercules and the Lenders have extended term loans to the Company in the aggregate amount of $55.0 million. The Amended Loan and Security Agreement provides for additional potential borrowings in the aggregate amount of up to $85 million, which may be extended in three tranches of up to $10.0 million, up to $15.0 million, and up to $60.0 million, respectively, which will become available to the Company upon the Company's satisfaction of certain terms and conditions set forth in the Amended Loan and Security Agreement and, in the case of the $60 million tranche, the Lenders' investment committee approval. The loans under the Amended Loan and Security Agreement mature on September 3, 2029. The Company received proceeds from the Tranche 2 Loan and an additional $10.0 million tranche (the "Tranche 3A Loan") upon the closing of the Second Amendment to the Loan and Security Agreement (the "Second Amendment") on May 6, 2026.

*Convertible Notes*

The 2025 Notes were repaid in full on January 15, 2025. See Note 12 in the accompanying notes to our consolidated financial statements included elsewhere in this 10-Q for further discussion of the 2025 Notes.

[**Table of Contents**](#Toc)

***Funding Requirements and Outlook***

Our ability to grow revenues and achieve profitability depends on the successful commercialization and adoption of our Eversense System by diabetes patients and healthcare providers, along with future product development, regulatory approvals, and post-approval requirements. Successful completion of the transfer of commercial operations relating to Eversense from Ascensia back to the Company may provide opportunities to have greater influence on revenue generation and market adoption of Eversense. These activities, including our ongoing focus to grow covered lives through positive insurance payor policy decisions, initiatives to support patient access, and continued development of Eversense 365, will require significant uses of working capital through 2026 and beyond. As of March 31, 2026, the Company had unrestricted cash, cash equivalents and marketable securities of $64.3 million.

In accordance with the FASB Accounting Standards Codification Topic 205-40, Presentation of Financial Statements- Going Concern, management is required to assess the Company's ability to continue as a going concern through twelve months after issuance of the financial statements. Management previously disclosed conditions and events that raised substantial doubt about our ability to continue as a going concern. In addition, given the Company's historical reliance upon debt and equity financing, management will continue to evaluate our funding needs against operating performance and strategic initiatives.

As of the first quarter of 2026, based on current operating plans, the subsequent receipt of financing proceeds (as further described under "Sources of Liquidity"), its existing unrestricted cash, cash equivalents, and marketable securities management now believes that the Company has sufficient resources to meet the Company's anticipated operating needs for the next twelve months from the issuance of the financial statements. Accordingly, management has concluded that the substantial doubt that was raised in the past about the Company's ability to continue as a going concern has been alleviated.

**Cash Flows** 

The following is a summary of cash flows for each of the periods set forth below (in thousands).

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Net cash used in operating activities | $(32025) | $(16080) |
| Net cash provided by (used in) investing activities | 17996 | (25325) |
| Net cash provided by financing activities | 3407 | 6119 |
| Net decrease in cash, cash equivalents and restricted cash | $(10622) | $(35286) |

---

*Net cash used in operating activities*

Net cash used in operating activities was $32.0 million for the three months ended March 31, 2026, and consisted of a net loss of $32.3 million and a net change in operating assets and liabilities of $2.7 million (most notably increases in accounts receivable of $3.0 million, inventory of $1.3 million, and accrued expenses and other liabilities of $3.0 million), partially offset by a $2.3 million increase of stock-based compensation, and a $0.7 million increase related to depreciation/amortization and other non-cash items.

Net cash used in operating activities was $16.1 million for the three months ended March 31, 2025, and consisted of a net loss of $14.3 million and a net change in operating assets and liabilities of $4.8 million (most notably decreases in accrued expenses and other liabilities of $5.7 million and accounts payable of $0.9 million, net of decreases in accounts receivable of $1.7 million and prepaid expenses and other current assets of $1.0 million), partially offset by $1.8 million of stock-based compensation and $1.1 million related to depreciation/amortization and other non-cash items.

[**Table of Contents**](#Toc)

*Net cash provided by (used in) investing activities*

Net cash provided by investing activities was $18.0 million for the three months ended March 31, 2026, and consisted of $23.3 million in proceeds from the sale of marketable securities, partially offset by $4.0 million in purchases of marketable securities and $1.1 million related to the acquisition of U.S. commercialization assets from Ascensia.

Net cash used in investing activities was $25.3 million for the three months ended March 31, 2025, and consisted of $24.9 million in purchases of marketable securities and $0.4 million of capital expenditures.

*Net cash provided by financing activities*

Net cash provided by financing activities was $3.4 million for the three months ended March 31, 2026, and primarily consisted of $3.5 million in proceeds from the issuance of common stock and $0.1 million of proceeds from the exercise of stock options, RSUs, and ESPP issuances, partially offset by $0.2 million of taxes paid related to net share settlement of equity awards.

Net cash provided by financing activities was $6.1 million for the three months ended March 31, 2025, and primarily consisted of $26.5 million in proceeds from the issuance of common stock net offset by $20.4 million used to repay the remaining outstanding 2025 Notes.

**ITEM 3: Quantitative and Qualitative Disclosures About Market Risk**

Under SEC rules and regulations, because we are considered to be a "smaller reporting company", we are not required to provide the information required by this item in this Quarterly Report on Form 10-Q.

**ITEM 4: Controls and Procedures**

***Evaluation of Disclosure Controls and Procedures***

Our management, with the assistance of our chief executive officer, who is our principal executive officer, and our chief financial officer, who is our principal financial officer, has reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of March 31, 2026. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Our disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed by us in the periodic reports filed with the SEC is accumulated and communicated to our management, including our principal executive, financial and accounting officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving such control objectives. Based on the evaluation of our disclosure controls and procedures as of March 31, 2026, our chief executive officer and chief financial officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.

***Changes in Internal Control over Financial Reporting***

There were no changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

[**Table of Contents**](#Toc)

**PART II: OTHER INFORMATION**

**ITEM 1: Legal Proceedings**

From time to time, we are subject to litigation and claims arising in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business. Legal proceedings, including litigation, government investigations and enforcement actions could result in material costs, occupy significant management resources and entail civil and criminal penalties.

In May 2024, the Company received notice and accepted service of a civil complaint that had been filed in the Eastern District of Texas and styled Cellspin Soft, Inc. vs. Senseonics Holdings, Inc., and Ascensia Diabetes Care Holdings AG Case No. 2:24-cv 263. The case was filed by a non-practicing entity alleging patent infringement of three patents. The validity of all three of these patents were challenged in Inter Partes Review proceedings at the U.S. Patent and Trademark Office by another party, TikTok Inc., (the "TikTok IPR") and on September 30, 2024, the Patent Trial and Appeal Board instituted a review with respect to each of the asserted claims in these three patents. Together with LifeScan, Inc. and Ascensia, on October 30, 2024, we filed a joint motion to join the TikTok IPR as well as our own joint independent, similar Inter Partes Review (the "Senseonics IPR") petitions challenging these patents. On February 5, 2025, the court issued an order staying the proceedings in the Eastern District of Texas pending resolution of the Inter Partes Reviews. On June 5, 2025, prior to the imminent TikTok IPR final hearings, the Acting Director of the U.S. Patent and Trademark Office ordered a sua sponte review by the Acting Director of whether the TikTok IPR could proceed based on certain novel issues relating to TikTok's Chinese ownership status. On January 23, 2026, the Director of the U.S. Patent and Trademark Office issued and order stating that, in view of a recent order by the Patent Trial and Appeal Board and TikTok Inc.'s announced Joint Venture (and the referenced ownership attributes thereof), the parties were authorized to file an additional brief addressing whether the evidence Cellspin Soft, Inc. submitted is sufficient to put TikTok Inc.'s real party in interest identification into dispute, and what effect, if any, the announced Joint Venture has on the TikTok IPR proceedings. TikTok, Inc. and Cellspin Soft, Inc. filed additional briefs on February 2, 2026. On March 30, 2026, the Director of the U.S. Patent and Trademark Office issued an order vacating the Board's decisions granting institution of the TikTok IPR and denied the TikTok IPR petitions. The Director also vacated the Board's order joining the Senseonics IPR to the TikTok IPR, and ordered the Board to determine whether the Senseonics IPR should be instituted on their own. On April 15, 2026, the Board granted institution of the Senseonics IPR on all three patents involved in the district court litigation. The Board further ordered that a final hearing will be held on June 30, 2026 on the Senseonics IPR. On April 20, 2026, Cellspin requested rehearing of the Board's April 15, 2026 institution decisions. On April 28, 2026, the Board denied Cellspin's requests for rehearing. Should any asserted claim in the three patents survive the invalidity challenge in the Senseonics Inter Partes Review proceedings, the Company intends to vigorously defend the lawsuit. The proceedings in the Eastern District of Texas remain stayed pending resolution of the Senseonics IPR.

Except as described above, we are not currently a party to any material legal proceedings, and we are not aware of any pending or threatened legal proceeding against us that we believe could have a material adverse effect on our business, operating results or financial condition.

**ITEM 1A: Risk Factors** 

Our business is subject to risks and events that, if they occur, could adversely affect our financial condition and results of operations and the trading price of our securities. Except as set forth below, there have been no material changes from our risk factors described in "Part I, Item 1A. Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 2, 2026, except for the following:

[**Table of Contents**](#Toc)

**Risks Relating to our Business and our Industry** 

***The consummation of the European Asset Purchases is subject to conditions that may not be satisfied, and delays or failures in completing the European Closings could adversely affect our business, financial condition and results of operations.***

On March 12, 2026, we entered into the Local Purchase Agreements with Ascensia, pursuant to which we agreed to acquire certain commercial assets and assume certain related liabilities in Italy, Germany, Spain and Sweden. The closing of each of the European Asset Purchases is subject to the satisfaction or waiver of customary closing conditions, including the obtaining of certain regulatory clearances, consents or non-objection with respect to the transfer of tender contracts and the completion of certain required labor and employment processes. There can be no assurance that these conditions will be satisfied or waived in a timely manner, or at all. Potential delays in consummating the European Closings could result in increased execution costs, diversion of management attention and resources, and prolonged reliance on Ascensia for transition services under the Transition Services Agreement, which could increase our operating expenses. In addition, the assumption of direct commercial responsibility for Eversense in the European Territories involves significant operational risks, including potential disruptions in relationships with employees, patients, prescribers, distributors or regulatory authorities. We will be required to establish or expand local operations, hire or retain qualified personnel, and comply with local regulatory requirements in each of the European Territories. If we are unable to successfully complete the European Asset Purchases or effectively manage the transition of commercial operations, our ability to generate revenue in the European Territories could be materially adversely affected, and we may incur significant costs that could harm our financial condition and results of operations.

**Risks Related to our Financial Results and Need for Financing** 

***Future borrowings under the Second Amendment to our Amended Loan and Security Agreement with Hercules Capital, Inc. are subject to conditions that may not be satisfied, and we may not have access to the full amount of the facility.***

On May 1, 2026, we entered into the Second Amendment to our Amended Loan and Security Agreement with Hercules (the "Second Amendment"), which increased the total loan potential borrowings under the agreement from $100.0 million to $140.0 million. As of the date of this report, we have drawn an aggregate of $55 million of borrowings under the Hercules facility. However, future borrowings under the agreement are subject to the satisfaction of certain terms and conditions and, with respect to the final $60.0 million, the approval of Hercules's investment committee. There can be no assurance that such conditions to funding will be satisfied. If we are unable to access the full amount of the facility, we may not have sufficient liquidity to fund our operations and may need to seek additional financing on terms that may be less favorable, or we may not be able to obtain additional financing at all.

***Our increased indebtedness under the amended Hercules facility may adversely affect our financial condition, and we may not be able to maintain compliance with the financial covenants contained therein.***

As a result of the Second Amendment, we have the potential to incur significantly greater indebtedness under the amended Hercules facility. Increased indebtedness could, among other things, increase our vulnerability to general adverse economic and industry conditions, limit our flexibility in planning for or reacting to changes in our business and the industry in which we operate, and place us at a competitive disadvantage compared to our competitors that have less debt. In addition, we will be required to comply with financial and other covenants in the amended facility and our ability to comply with these covenants will depend on our future operating performance, which is subject to prevailing economic conditions and other factors, many of which are beyond our control. If we fail to comply with these covenants, we could be in default under the facility, which could result in the acceleration of all outstanding indebtedness thereunder and materially adversely affect our financial condition and ability to continue as a going concern.

[**Table of Contents**](#Toc)

**ITEM 2: Unregistered Sales of Equity Securities and Use of Proceeds**

Not applicable.

**ITEM 3: Defaults Upon Senior Securities**

Not applicable**.**

**ITEM 4: Mine Safety Disclosures**

Not applicable.

**ITEM 5: Other Information** 

During the fiscal quarter ended March 31, 2026, none of our directors and officers (as defined in Rule 16a-1(f) under the Securities and Exchange Act of 1934, as amended) adopted, modified or terminated the contracts, instructions or written plans for the purchase or sale of the Company's securities.

[**Table of Contents**](#Toc)

**ITEM 6: Exhibits** 

The exhibits listed on the Exhibit Index hereto are filed or incorporated by reference (as stated therein) as part of this Quarterly Report on Form 10-Q.

---

| | |
|:---|:---|
| **Exhibit No.** | **Document** |
| 2.1\*# | [First Amendment to Master Asset Purchase Agreement, dated March 12, 2026, by and among the Company, the Subsidiary and Ascensia Diabetes Care Holdings AG.](sens-20260331xex2d1.htm) |
| 2.2\*# | [Local Asset Purchase Agreement, dated as of March 12, 2026, by and among Senseonics Sweden AB, Ascensia Diabetes Care Holdings AG and Ascensia Diabetes Care Sweden AB.](sens-20260331xex2d2.htm) |
| 2.3\*# | [Business Transfer Agreement, dated as of March 12, 2026, by and among Senseonics Spain S.L.U. and Ascensia Diabetes Care Spain, S.L.U.](sens-20260331xex2d3.htm) |
| 2.4\*# | [Local Asset Purchase Agreement, dated as of March 12, 2026, by and among the Company, Senseonics Deutschland GmbH, Ascensia Diabetes Care Holdings AG and Ascensia Diabetes Care Deutschland GmbH.](sens-20260331xex2d4.htm) |
| 2.5\*# | [Local Asset Purchase Agreement, dated as of March 12, 2026, by and among the Company, Senseonics Italy S.r.l. and Ascensia Diabetes Care Holdings AG.](sens-20260331xex2d5.htm) |
| 3.1 | [Amended and Restated Certificate of Incorporation of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717), filed with the Commission on March 23, 2016).](http://www.sec.gov/Archives/edgar/data/1616543/000110465916107185/a16-7127_1ex3d1.htm) |
| 3.2 | [Amended and Restated Bylaws of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K (File No. 001-37717), filed with the Commission on March 23, 2016).](http://www.sec.gov/Archives/edgar/data/1616543/000110465916107185/a16-7127_1ex3d2.htm) |
| 3.3 | [Certificate of Amendment to Amended and Restated Certificate of Incorporation of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.3 to the Registrant's Quarterly Report on Form 10-Q for the Quarter ended June 30, 2018 (File No. 001-37717), filed with the Commission on August 8, 2018).](http://www.sec.gov/Archives/edgar/data/1616543/000155837018006768/sens-20180630ex3374f9028.htm) |
| 3.4 | [Certificate of Amendment to Amended and Restated Certificate of Incorporation of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717), filed with the Commission on May 22, 2024).](https://www.sec.gov/Archives/edgar/data/1616543/000110465924064335/tm2415323d1_ex3-1.htm)<br>|
| 3.5 | [Certificate of Amendment to Amended and Restated Certificate of Incorporation of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717), filed with the Commission on October 16, 2025).](https://www.sec.gov/Archives/edgar/data/1616543/000110465925100097/tm2528782d1_ex3-1.htm) |
| 3.6 | [Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock (incorporated herein by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717), filed with the Commission on August 18, 2020).](https://www.sec.gov/Archives/edgar/data/1616543/000110465920096504/tm2028874d1_ex3-1.htm) |
| 3.7 | [Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717) filed on October 26, 2020).](https://www.sec.gov/Archives/edgar/data/1616543/000110465920118175/tm2034287d1_ex3-1.htm) |
| 3.8 | [Certificate of Designation of Preferences, Rights and Limitations of Series B Convertible Preferred Stock (incorporated by reference to Exhibit 3.5 to the Registrant's Quarterly Report on Form 10-Q (File No. 001-37717) filed with the Commission on November 8, 2022).](https://www.sec.gov/Archives/edgar/data/1616543/000155837022016867/sens-20220930xex3d5.htm) |
| 3.9 | [Amendment to Bylaws of Senseonics Holdings, Inc. (incorporated herein by reference to Exhibit 3.7 to the Registrant's Annual Report on Form 10-K (File No. 001-37717) filed with the Commission on March 5, 2021).](https://www.sec.gov/Archives/edgar/data/1616543/000155837021002458/sens-20201231xex3d7.htm) |
| 10.1 | [First Amendment to Loan and Security Agreement, dated September 3, 2025, by and between Senseonics Holdings, Inc. and Hercules Capital, Inc. (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K (File No. 001-37717) filed with the Commission on September 3, 2025).](https://www.sec.gov/Archives/edgar/data/1616543/000110465925087170/tm2525109d1_ex10-1.htm)<br>|
| 10.2\*# | [Transition Services Agreement, dated as of March 12, 2026, by and among Senseonics, Incorporated, Ascensia Diabetes Care Holdings AG and the European Ascensia Affiliates.](sens-20260331xex10d2.htm) |
| 10.3\*# | [First Amendment to Amended and Restated Collaboration and Commercialization Agreement, dated as of March 12, 2026, by and between Senseonics, Incorporated and Ascensia Diabetes Care Holdings AG.](sens-20260331xex10d3.htm)<br>|

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[**Table of Contents**](#Toc)

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| | |
|:---|:---|
| 31.1\* | [Certification of Principal Executive Officer under Section 302 of the Sarbanes-Oxley Act.](sens-20260331xex31d1.htm) |
| 31.2\* | [Certification of Principal Financial Officer under Section 302 of the Sarbanes-Oxley Act.](sens-20260331xex31d2.htm) |
| 32.1\*\* | [Certifications of Principal Executive Officer and Principal Financial Officer under Section 906 of the Sarbanes-Oxley Act.](sens-20260331xex32d1.htm) |
| 101.INS\* | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document) |
| 101.SCH\* | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL\* | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF\* | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB\* | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE\* | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |

---

\* Filed herewith.

\*\* These certifications are being furnished solely to accompany this quarterly report pursuant to 18 U.S.C. Section 1350, and are not being filed for purposes of Section 18 of the Exchange Act and are not to be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

# Certain portions of this exhibit, indicated by asterisks, have been omitted because they are not material and are the type that the registrant treats as private and confidential.

[**Table of Contents**](#Toc)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | SENSEONICS HOLDINGS, INC. | SENSEONICS HOLDINGS, INC. |
| Date: May 7, 2026 | By: | /s/Rick Sullivan |
|  |  | Rick Sullivan |
|  |  | Chief Financial Officer |
|  |  | *(Principal Financial Officer)* |

---

## Exhibit 2.1

**EXHIBIT 2.1**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.**

**THIS FIRST AMENDMENT TO AMENDED AND RESTATED COLLABORATION AND COMMERCIALIZATION AGREEMENT** (this "***Amendment***") is entered into as of March 12, 2026 (the "***Amendment Effective Date***") by and between Senseonics, Incorporated, a Delaware corporation ("***Senseonics***") and Ascensia Diabetes Care Holdings AG ("***Ascensia***").

**RECITALS**

**WHEREAS**, Senseonics and Ascensia have entered into that certain Amended and Restated Collaboration and Commercialization Agreement, dated December 31, 2025 (the "***Agreement***"); and

**WHEREAS**, the parties desire to amend the Agreement as set forth herein.

**NOW**, **THEREFORE**, in consideration of the mutual promises and covenants herein and other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follow:

**AGREEMENT**

**1. Definitions**. Capitalized terms used herein and not defined in this Amendment shall have the meaning assigned to them in the Agreement.

**2. Amendment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1**Section 1.16 of the Agreement is deleted in its entirety and restated as follows:

"***Tender Agreement***" means any agreement with respect to Italy, Spain and/or Sweden, between Ascensia and any local or regional governmental entity or governmental body for the Supply of Products in the Field to a pre-defined user group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2**Section 2.7 (f) of the Agreement is deleted in its entirety and restated as follows:

Promotional Materials. Senseonics will be responsible for reviewing and approving key advertising, sales information, literature, and other promotional materials pertaining Products ("***Promotional Material***") prior to use or dissemination by Ascensia in the Territories. Senseonics is fully responsible for ensuring all new materials are compliant according to relevant legal, medical, and regulatory standards. Notwithstanding the foregoing, any Promotional Materials that are in use by Ascensia in the Territory as of the Amended Effective Date and have been previously approved by Senseonics (if and to the extent such approval was required under the Prior Agreement) may continue to be used by Ascensia without further review or approval by Senseonics, so long as they remain accurate, compliant with applicable law and consistent with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3**Section Sections 4.3 and 4.4 of the Agreement are deleted in its entirety and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Taxes**. Unless otherwise provided on the Purchase Order, in addition to the amounts stated above, Senseonics shall pay costs for all sales, use, value-added or excise taxes, assessments or other charges, including customs duties and similar fees attributable to the sale of the Product. In the event Ascensia pays any such fees, taxes, or charges, Ascensia shall promptly invoice

------

Senseonics for the same pursuant to the Transition Services Agreement, except that duties import are to be included in the COGS per section 4.4 and settled through the corresponding true-up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Transition True-up**. For the period from [\*\*\*], or [\*\*\*], the Parties shall conduct a monthly true-up to account for [\*\*\*]. For such true-up, the amounts owed to Senseonics under the 100% revenue share shall be reduced to the extent of [\*\*\*], to the extent that (i) such amounts are actually incurred and paid out in the period and (ii) such amounts are not otherwise attributable to or accounted for under the Transition Services Agreement, including without limitation under Schedule A cost sharing, Schedule B, payments for operating expenses, or otherwise.

**3. Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1Precedence**. In the event of any conflict between the express terms of this Amendment and those of the Agreement, those of this Amendment shall govern. All terms of the Agreement, as amended hereby, shall remain in full force and effect, and are hereby confirmed and ratified in all respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2Counterparts**. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

**[*Signature Page Follows*]**

**IN WITNESS WHEREOF**, the parties confirm and acknowledge the terms of this Agreement. The parties represent and warrant that the persons executing this Amendment have all necessary authority to enter into, and bind the relevant entity, to this Amendment.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Senseonics**:<br>Senseonics, Incorporated<br>Signature: */s/ Timothy T. Goodnow, Ph.D.* <br>Name: <u>Timothy T. Goodnow, Ph.D.</u> <br>Title: <u>President and CEO</u> <br>Date: <u>March 12, 2026</u>  | &nbsp;&nbsp;**Ascensia**:<br>Ascensia Diabetes Care Holdings AG<br>Signature: <br>Name: <br>Title: <br>Date: <br>Signature: <br>Name: <br>Title: <br>Date:  |

---

------

**IN WITNESS WHEREOF**, the parties confirm and acknowledge the terms of this Agreement. The parties represent and warrant that the persons executing this Amendment have all necessary authority to enter into, and bind the relevant entity, to this Amendment.

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;<br>*/s/ Koichiro Sato* <br><u>Koichiro Sato</u> <br><u>Chief Executive Officer</u> <br><u>3/11/2026</u> <br>*/s/ Marieke Jansen* <br><u>Marieke Jansen</u> <br><u>General Counsel</u> <br><u>3/11/2026</u> <br>|
| &nbsp;&nbsp;**Senseonics**:<br>Senseonics, Incorporated<br>Signature: <br>Name: <br>Title: <br>Date:  | &nbsp;&nbsp;**Ascensia**:<br>Ascensia Diabetes Care Holdings AG<br>Signature: */s/ Koichiro Sato* <br>Name: <u>Koichiro Sato</u> <br>Title: <u>Chief Executive Officer</u> <br>Date: <u>3/11/2026</u> <br>Signature: */s/ Marieke Jansen* <br>Name: <u>Marieke Jansen</u> <br>Title: <u>General Counsel</u> <br>Date: <u>3/11/2026</u>  |

---

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## Exhibit 2.2

**EXHIBIT 2.2**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN**

**EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY**

**ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS**

**AS PRIVATE AND CONFIDENTIAL.**

![Graphic](sens-20260331xex2d2001.jpg)

#### LOCAL ASSET PURCHASE AGREEMENT
among:

**Senseonics Sweden AB (hereinafter the "Purchaser Affiliate")**

**Ascensia Diabetes Care Holdings AG (hereinafter the "Seller Parent")**

and

**Ascensia Diabetes Care Sweden AB (hereinafter the "Seller Affiliate")**

Dated as of March 12, 2026

![Graphic](sens-20260331xex2d2002.jpg)

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**TABLE OF CONTENTS**

**Page**

1.[**DEFINITIONS** **1**](#_bookmark0)

2.[**SALE AND PURCHASE OF ASSETS** **2**](#_bookmark1)

3.[**SWEDEN PURCHASE PRICE** **4**](#_bookmark7)

4.[**CLOSING; CLOSING DATE** **4**](#_bookmark8)

5.[**CLOSING CONDITIONS** **4**](#_bookmark9)

6.[**TRANSFER OF BENEFITS; COVENANTS** **5**](#_bookmark10)

7.[**REPRESENTATIONS AND WARRANTIES; LIMITATIONS OF LIABILITY** **6**](#_bookmark12)

8.[**TAXES** **8**](#_bookmark14)

9.[**MISCELLANEOUS** **8**](#_bookmark15)

i

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**THIS LOCAL ASSET PURCHASE AGREEMENT** (the "**Agreement**"), dated as of March 12, 2026, is by and among, **ASCENSIA DIABETES CARE HOLDINGS AG**, a company organized under the laws of Switzerland (hereinafter "**Seller Parent**"), Ascensia Diabetes Care Sweden AB, reg. no. 559024-5345, a limited liability company incorporated in Sweden, with address at Gustav III Boulevard 34, 169 73 Solna, Sweden (the "**Seller Affiliate**" and together with Seller Parent, the "**Seller Parties**") and Senseonics Sweden AB, reg. no. 559549-6026, a limited liability company incorporated under the laws of Sweden, with address at c/o Athene Tax AB Textilgatan 31, 120 30 Stockholm, Sweden (the "**Purchaser Affiliate**"). Any capitalized terms used in this Agreement and not herein defined shall have the meaning assigned to such terms in the Master Purchase Agreement attached hereto as Annex A.

#### Preamble
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.Seller Parent, which is the ultimate parent company of the Seller Affiliate, and **Senseonics, Incorporated,** a Delaware corporation (hereinafter "**Purchaser Parent**"), the ultimate parent company of the Purchaser Affiliate have entered into a Master Asset Purchase Agreement, dated December 31, 2025 (as may be amended from time to time, the "**Master Purchase Agreement**"), pursuant to which, among other things, Seller Parent agreed to sell or cause one or more of its Affiliates (including Seller Affiliate), to sell to Purchaser Parent or one or more of its Affiliates (including Purchaser Affiliate), certain CGM Activities (as defined in the Master Purchase Agreement) in particular through the sale of certain assets of certain affiliates of Seller Parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.Seller Affiliate owns the right, title and interest to the Specified European Assets located in Sweden representing its business (going concern) of marketing, selling and distributing the Products in Sweden (collectively, the "**Sweden Purchased Assets**") and desires to sell them to Purchaser Affiliate, and Purchaser Affiliate wishes to purchase from Seller Affiliate, the Sweden Purchased Assets and, in connection therewith, Purchaser Affiliate is willing to assume the Sweden Assumed Liabilities (as defined below) (the Sweden Assumed Liabilities together with the Sweden Purchased Assets, collectively, the "**Sweden Business**"), in each case, upon the terms and subject to the conditions set forth in this Agreement and the Master Purchase Agreement.

**NOW, THEREFORE**, in consideration of the foregoing and the respective representations, warranties, covenants, agreements and conditions set forth in this Agreement and the Master Purchase Agreement, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Definitions**.

Unless otherwise expressly stated in this Agreement, terms used but not defined herein shall have the meanings assigned to them in the Master Purchase Agreement. The following terms, used in this Agreement, have the following meanings:

"**Applicable Law**" means any law, statute, legislation, ordinance, code, rule or regulation, including any EU regulation, treaty or international agreement, as well as any judgment, order, injunction, ruling, decision or other legally binding requirement of any court, tribunal, governmental, regulatory or supervisory authority, in each case as in force and applicable to the relevant Person from time to time.

"**Closing**" shall mean the consummation of the transactions set forth in <u>Section</u><u> </u>[<u>4</u>](#_bookmark8)of this Agreement.

"**Closing Date**" shall mean the date of Closing as provided for in <u>Section</u><u> </u>[<u>4</u>](#_bookmark8)of this Agreement.

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"**Encumbrances**" shall mean any pledge (Sw. *panträtt*), enterprise mortgage (Sw. *företagshypotek*), mortgage (Sw. *inteckning*), security interest, encumbrance, claim, preference, right of possession, lease, tenancy, license, easement (Sw. *servitut*), restrictive covenant, infringement, interference, court order, proxy, option, right of first refusal, pre-emptive right, defect, impediment, exception, reservation, limitation, impairment, imperfection of title, condition or restriction of any nature (including any restriction on the transfer of any asset, any restriction on the receipt of any income derived from any asset, any restriction on the use of any asset and any restriction on the possession, exercise or transfer of any other attribute of ownership of any asset), right of use or usufruct (Sw. *nyttjanderätt*), retention of title (Sw. *äganderättsförbehåll*), mandatory transfer right / right of first offer (Sw. *hembud*) and any other third party right.

"**Master Purchase Agreement**" has the meaning set forth in Preamble A.

"**Material Adverse Change**" means any event, change, circumstance or effect that, individually or in the aggregate, has a material adverse effect on the Sweden Purchased Assets.

"**Purchaser Parent**" has the meaning set forth in Preamble A.

"**Products**" shall mean the following Purchaser proprietary products currently marketed under the brand "Eversense": (a) Eversense® CGM System (90-day product); (b) Eversense® XL CGM System (180-day product outside the US); (c) Eversense XL 2.0; and (d) extended Eversense 365-day product (Rome 1 & Rome 2).

"**Seller Parent**" has the meaning set forth in Preamble A.

"**Sweden Assumed Liabilities**" has the meaning set forth in <u>Section</u><u> </u>[<u>2.3</u>.](#_bookmark4)

"**Sweden Business**" has the meaning set forth in Preamble B.

"**Sweden Excluded Assets**" has the meaning set forth in <u>Section</u><u> </u>[<u>2.2</u>.](#_bookmark3)

"**Sweden Purchased Assets**" has the meaning set forth in Preamble B.

"**Sweden Purchase Price**" has the meaning set forth in <u>Section</u><u> </u><u>3</u>.

"**Sweden Transferred Employees**" has the meaning set forth in <u>Section</u><u> </u>[<u>2.5</u>.](#_bookmark6)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Sale and Purchase of Assets**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1**Purchased Assets**. At the Closing and with effect as of the Closing Date and subject to the conditions set forth in <u>Section 5</u> of this Agreement and <u>Section 5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*), the Seller Affiliate hereby sells, grants, conveys, transfers, assigns and delivers to the Purchaser Affiliate and the Purchaser Affiliate hereby accepts purchases, assumes and acquires from the Seller Affiliate (free and clear of all Encumbrances) all right, title and interest in and to the Sweden Purchased Assets, including such assets listed on <u>Schedule 1</u>, the Tender Contracts listed under <u>Schedule 2</u> (the "**Sweden Tender Contracts**") and the Other Sweden Transferred Contracts listed under <u>Schedule 3</u> (the "**Other Sweden Transferred Contracts**") (collectively with the Sweden Tender Contracts, the "**Sweden Transferred Contracts**"). For the avoidance of doubt, the Sweden Purchased Assets, shall also include such assets which are exclusively related to, or used by the Seller Affiliate in connection with, the operation or conduct of the Sweden Business, such assets set forth on <u>Schedule 4.</u>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2**Excluded Assets**. Notwithstanding anything in <u>Section</u> [<u>2.1</u>](#_bookmark2) to the contrary, Seller Affiliate is not selling, assigning, transferring, conveying, or delivering, and Purchaser Affiliate is not purchasing, acquiring, or accepting from Seller Affiliate and, for the avoidance of doubt, the Sweden Purchased Assets shall not include any of the Seller Affiliate's assets listed under <u>Schedule</u> [<u>2.2</u>](#_bookmark3)<u> </u>(the "**Sweden Excluded Assets**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3**Assumed Liabilities**. Upon and subject to the terms, conditions, representations and warranties of the Seller Affiliate contained herein and the terms and conditions of the Master Purchase Agreement, including, without limitation, <u>Section 1.4(a)</u> of the Master Purchase Agreement (*Excluded Liabilities*), <u>Section</u><u> </u><u>1.9</u> of the Master Purchase Agreement (*Transfer Taxes*), <u>Section 1.10</u> of the Master Purchase Agreement (*European CGM Activities*), <u>Section 8.5</u> of the Master Purchase Agreement (*Contract Matters*), and <u>Section</u><u> </u><u>8.6</u> of the Master Purchase Agreement (Misallocated Assets), Purchaser Affiliate hereby assumes as of the Closing Date (collectively, the "**Sweden Assumed Liabilities**"): (i) the Liabilities and obligations under the Sweden Transferred Contracts, but (1) only to the extent arising out of obligations performed or required to be performed by Purchaser Affiliate under such Sweden Transferred Contracts after the assignment and transfer of such Sweden Transferred Contracts on the Closing (or in the case of the assignment and/or transfer after the Applicable Closing, the date of such assignment and/or transfer) and not on or before such date, (2) only to the extent such obligations do not arise from or relate to any breach by any member of the Seller Group of any provision of any of such Sweden Transferred Contracts, and (3) only to the extent such obligations do not arise from or relate to any event, circumstance or condition occurring or existing on or prior to the Closing Date that, with notice or lapse of time, would constitute or result in a breach of any of such Sweden Transferred Contracts; (ii) liabilities accruing, arising out of or relating to the conduct or operation of the Sweden Business or the ownership or use of the Sweden Purchased Assets, solely to the extent such liabilities arise or accrue after the Closing; (iii) all liabilities, costs and obligations in respect of the Sweden Transferred Employees solely on a going-forward basis after the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4**Excluded Liabilities**. Other than, after the Closing Date, the Sweden Assumed Liabilities as provided for in <u>Section</u> [<u>2.3</u>,](#_bookmark4) the Purchaser Affiliate shall not assume, and shall have no liability for any Liabilities of the Seller Affiliate of any kind, character or description, whether accrued, absolute, contingent or otherwise, it being understood that the Purchaser Affiliate is expressly disclaiming any express or implied assumption of any Liabilities other than after the Closing Date, the Sweden Assumed Liabilities. For the avoidance of doubt, any Liabilities, claims, disputes, costs or obligations that are based upon, arise out of, relate to or result from any act, omission, event, circumstance or condition occurring or existing prior to the Closing Date shall be the sole responsibility of the Seller Affiliate, irrespective of when such Liabilities, claims or obligations are asserted, quantified, become due or payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5**Transferred Employees**. The Purchaser Affiliate, as a result of the succession of the business succeeds the Seller Affiliate in the contracts with all the employees allocated to the Sweden Business and who are listed in <u>Schedule</u><u> </u>[<u>2.5</u>](#_bookmark6)(the **"Sweden Transferred Employees**") and shall offer the Sweden Transferred Employees to transfer on terms and conditions of employment that are materially unchanged from the terms and conditions of employment applicable immediately prior to the Closing Date. The transfer shall be effectuated in accordance with Section 6b of the Swedish Employment Protection Act. If any of the employees listed in Schedule 2.5 rejects to transfer to the Purchaser Affiliate, such employees shall remain employed by the Seller Affiliate and the Seller Affiliate shall be solely responsible in relation to such employees for any liabilities and obligations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Sweden Purchase Price**. As consideration for the sale, transfer, conveyance, assignment and delivery to the Purchaser Affiliate of the Sweden Purchased Assets (including for the avoidance of doubt the assumption of the Sweden Assumed Liabilities), the Purchaser Affiliate will pay (or cause to be paid) to the Seller Affiliate (or, in the case of a negative Sweden Purchase Price, the Seller Affiliate will pay or cause to be paid to the Purchaser Affiliate) at the Closing (by wire transfer of immediately available funds), the net book value of the Sweden Business calculated in accordance with <u>Section</u><u> </u><u>1.5</u> of the Master Purchase Agreement (*Purchase Price; Payment of Purchase Price; Adjustment of Purchase Price*) (the "Sweden Purchase Price"), subject to the terms, conditions and adjustments set forth therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Closing; Closing Date**. Unless otherwise designated by the Parties, the closing of the purchase of the Sweden Business by Purchaser Affiliate (the "Closing"), shall take place remotely via the exchange of documents and signatures following the satisfaction and/or waiver of all conditions to the Closing set forth in <u>Section 5</u> of this Agreement and <u>Section 5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closing*) (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction and/or waiver of such conditions) or at such other place, time or date as may be mutually agreed upon in writing by Seller Affiliate and Purchaser Affiliate. For purposes of this Agreement, "Closing Date" shall mean the time and date as of which the Closing actually takes place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Closing Conditions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1**Condition Precedent**. The obligations of the Parties hereto to effect the Closing and consummate the transactions contemplated hereby shall be subject to the satisfaction or waiver at or prior to the Closing Date of all the applicable conditions set forth in <u>Section 5</u> (*Conditions Precedent to the Closing*) of the Master Purchase Agreement and each of the following 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1Completion of all information and consultation procedures with employees and relevant trade unions in accordance with the Swedish Co-Determination in the Workplace Act (1976:580) (Sw. *lag om medbestämmande i arbetslivet*) and the Swedish Employment Protection Act (1982:80) (Sw. *lag om anställningsskydd*).

&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;5.1.2All Consents and novations required for the transfer or assignment of the Sweden Tender Contracts (the "**Tender Contracts Consents**") to the Purchaser Affiliate, including any consents, approvals or novations required from contracting public authorities or other Governmental Bodies, have been obtained. The Parties undertake to cooperate in good faith to obtain the Tender Contracts Consents and to jointly: (i) contact the public contracting authorities as soon as practicable in order to verify any and all documentation and information required and/or appropriate for the obtainment of the Tender Contracts Consents; (ii) formally notify the transfer of the Sweden Business to such public contracting authorities (enclosing all the necessary and/or appropriate documentation and information) and request the Tender Contracts Consents as soon as possible after the signing of this Agreement. It being understood that, in the period between the signing of this Agreement and the obtainment of the Tender Contracts Consents, the Sweden Tender Contracts shall be performed and fulfilled by the Seller Affiliate in good faith and in the ordinary course of business consistently with past practice and in compliance with the provisions of the Transitional Service Agreement and of the Amended and Restated Existing 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.3Each of the Consents required for the transfer or assignment of the Other Sweden Transferred Contracts, which Consents shall be required for those Contracts denoted as Tier 1a and Tier 1b Contracts on <u>Schedule</u><u> </u><u>3</u>, shall have been obtained as of the Closing Date and evidence of such Consent shall be delivered to the Purchaser Affiliate

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and shall be in full force and effect, or in the event that such Consent is not obtained as of the Closing Date, the third party to such Other Sweden Transferred Contract shall have entered into a new Contract with Purchaser Affiliate (or Affiliate thereof) to the reasonable satisfaction of the Purchaser Affiliate on substantially similar terms.

&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;5.1.4**Order to Cash and Delivery**. Purchaser Parent and Purchaser Affiliate shall have established the procedures and systems that are operational and validated to issue invoices through its enterprise resource planning (ERP) system and facilitate the delivery of the Products and related documentation to customers, and shall have established the processes and obtained all applicable Governmental Authorizations in Sweden, collectively to conduct order, billing and delivery consistent with applicable regulatory and tender requirements (the "**Order to Cash and Delivery Processes**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2**Termination/Exclusive Remedies**. The applicable termination provisions set forth in <u>Section 6</u> (*Termination*) of the Master Purchase Agreement shall apply hereto, and the indemnification provisions in <u>Section 7</u> (*Indemnification, etc*.) of the Master Purchase Agreement shall be the sole and exclusive legal remedy of such Party for any and all claims against the other Parties and their respective Affiliates for Damages under the Master Purchase Agreement or this Agreement; provided, however, that the foregoing sentence shall not be deemed a waiver by any Party of any right or remedy arising by reason of any claim based on any Fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Transfer of Benefits and burdens; Covenants**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1**Transfer of Benefits and burdens**. Benefits and burdens with regard to the Sweden Business shall be transferred to the Purchaser Affiliate as of the Closing Date notwithstanding any delay in completing the formalities of title transfer under Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2**Transfer of Assets and Liabilities**. The Seller Affiliate shall transfer and deliver the Sweden Business to the Purchaser Affiliate on the Closing Date and the Parties hereby covenant to each other that they will execute and do (or procure to be executed and done by any other necessary party) all such things as are required pursuant to <u>Section</u><u> </u><u>8.6</u> (Misallocated Assets) of the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3**Cooperation Related to Transferring Employees**. The Parties agree that the transfer of the Sweden Business entails a transfer of business (Sw. *verksamhetsövergång*) in accordance with the Swedish Employment Protection Act. All rights and obligations pursuant to employment agreements in respect of the Sweden Transferred Employees are included in the acquisition of the Sweden Business. For the avoidance of doubt, the allocation of liabilities in respect of the Sweden Transferred Employees as between the Parties shall be governed by <u>Section</u> [<u>2.3</u>](#_bookmark4) and <u>Section</u> [<u>2.4</u>,](#_bookmark5) and nothing in this <u>Section 6.3</u> shall be construed to expand the Purchaser Affiliate's assumed liabilities beyond the Sweden Assumed Liabilities. From the date hereof until and after the Closing, Seller Affiliate shall cooperate in good faith with Purchaser Affiliate to facilitate the transfer of the Sweden Transferred Employees. Such cooperation between Seller Affiliate and Purchaser Affiliate shall include but not be limited to:

&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;6.3.1Providing all required employee information and documentation to Purchaser Affiliate in a timely manner.

&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;6.3.2Assisting with mandatory employee notifications and consultations with works councils or employee representatives.

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&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;6.3.3Executing any local transfer agreements or ancillary documents necessary to effectuate the transfer of the Sweden Transferred Employees.

&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;6.3.4Maintaining employment terms and conditions as required by 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.5Coordinating with Purchaser Affiliate on timing and communications to ensure compliance with statutory notice periods and consultation obligations.

&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;6.3.6Neither the Seller Affiliate nor the Purchaser Affiliate shall take any action that would impede or delay the transfer of employees and shall promptly notify the other party of any issues or objections raised by employees, trade unions or authorities in Sweden.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4**Order to Cash and Order to Delivery**. Purchaser Parent and Purchaser Affiliate shall use commercially reasonable efforts to implement the Order to Cash and Delivery Processes on or before [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Representations and Warranties; Limitations of Liability**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1**Representations and Warranties of the Seller Affiliate**. The Seller Affiliate hereby represents and warrants to the Purchaser Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Seller Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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)The Seller Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Seller Affiliate of this Agreement, the performance by the Seller Affiliate of its obligations hereunder and the consummation by the Seller Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Seller Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Seller Affiliate are necessary therefor.

&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;(c)This Agreement has been duly executed and delivered by the Seller Affiliate and, assuming the due execution hereof by the Purchaser Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Seller Affiliate, enforceable against the Seller Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar Applicable Laws affecting the rights of creditors generally.

&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;(d)The execution and delivery of this Agreement and the performance of the transactions contemplated hereby do not conflict with or result in a breach of the Seller Affiliate's articles of association, any resolution adopted by its shareholders or board of directors, or any Applicable Law, order, judgment, decree or agreement binding upon the Seller Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2**No Other Representations and Warranties of the Seller Affiliate**. The Seller Affiliate has not made, and the Purchaser Affiliate has not relied on, any other expressed or implied warranties regarding the Sweden Business than those contained in <u>Section</u> [<u>7.1.</u>](#_bookmark13) The Seller

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Affiliate's sole and exclusive liability in respect of the Sweden Business shall be under said representations and warranties, and the Seller Affiliate shall have no other liability in respect thereof based on any warranty or information, expressed or implied, or any other agreement, contract, statute, including under the Swedish Sale of Goods Act (Sw. *Köplagen 1990:931*), or pursuant to legal principles or theory or on any other ground. Without prejudice to the generality of the foregoing, the Seller Affiliate makes no warranty to the Purchaser Affiliate with respect to and shall have no liability to the Purchaser Affiliate based on any financial projection, forecast or other forward-looking statements relating to the Sweden Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3**Representations and Warranties of the Purchaser Affiliate**. The Purchaser Affiliate hereby represents and warrants to the Seller Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Purchaser Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Purchaser Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Purchaser Affiliate of this Agreement, the performance by the Purchaser Affiliate of its obligations hereunder and the consummation by the Purchaser Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Purchaser Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Purchaser Affiliate are necessary therefor.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)This Agreement has been duly executed and delivered by the Purchaser Affiliate and, assuming the due execution hereof by the Seller Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Purchaser Affiliate, enforceable against the Purchaser Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar Applicable Laws affecting the rights of creditors generally.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)The execution and delivery of this Agreement and the performance of the transactions contemplated hereby do not conflict with or result in a breach of the Purchaser Affiliate's articles of association, any resolution adopted by its shareholders or board of directors, or any Applicable Law, order, judgment, decree or agreement binding upon the Purchaser Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4**Representation and Warranties Subject to the Master Purchase Agreement**. With respect to representations and warranties of the Seller Affiliate and the Purchaser Affiliate set forth in <u>Sections</u> [<u>7.1</u>](#_bookmark13) and <u>7.3</u> above and the representations and warranties set out in the Master Purchase Agreement, the duration and consequences of a breach thereof, the remedies of the Parties and the limitations of liability, the Master Purchase Agreement shall entirely apply to this Agreement unless otherwise stated in the Master Purchase Agreement. This Agreement shall not change, modify or alter any provision or clause of the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Taxes**. All taxes and expenses incurred in connection with the Agreement shall be paid in accordance with the allocation in the Master Purchase Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1**Severability**. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2**Waiver**. Any of the terms or conditions of this Agreement which may be lawfully waived may be waived in writing at any time by each Party which is entitled to the benefits thereof. Any waiver of any of the provisions of this Agreement by any Party hereto shall be binding only if set forth in an instrument in writing signed on behalf of such Party. Neither the waiver by a Party hereto of a breach of or a default under any one or more of the provisions of this Agreement, nor the failure of a Party, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3**Amendment**. This Agreement may not be amended, modified or supplemented except upon the execution and delivery of a written agreement executed by the Parties hereto and specifically referencing this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4**Interpretation**.

&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;9.4.1The schedules to this Agreement are, for all intents and purposes, an integral part thereof, and, consequently, shall be binding on the Parties.

&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;9.4.2All headings contained in this Agreement are solely for order and organization purposes and shall not entail any interpretation or limitation on the matters regulated by the provisions in which they are used.

&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;9.4.3References to any law or regulation shall be construed as references to such law or regulation as the same may be amended, restated or replaced from time to time.

&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;9.4.4The singular shall include the plural and vice versa.

&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;9.4.5References to the words "include", "including", "in particular", or any similar term or expression are not to be construed as implying any limitation and general words introduced by the word "other" (or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things.

&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;9.4.6The Parties have negotiated, drafted and assessed the rights and

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obligations of this Agreement jointly and with their advisers, and therefore no contra proferentem criteria shall be applicable in the interpretation of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5**Assignment**. The Parties shall not assign any of their rights or obligations under this Agreement whether by written agreement or by operation of Law (including by merger or sale of all or substantially all assets), without the prior written consent of the other Party; <u>provided</u>, however; that either party may assign any and all of its rights or obligations under this Agreement to one or more of its Affiliates without the other party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6**Conflicts**. In the event of a conflict between the provisions of this Agreement and the provisions of the Master Purchase Agreement, the Parties agree that the provisions of the Master Purchase Agreement shall prevail unless otherwise stated in the Master Purchase Agreement. Notwithstanding the foregoing, in the event of any conflict, this Agreement shall prevail with respect to <u>Section</u> [<u>2.3</u>](#_bookmark4) (Assumed Liabilities), <u>Section</u> [<u>2.4</u>](#_bookmark5) (Excluded Liabilities), <u>Section</u> [<u>2.5</u>](#_bookmark6) (Sweden Transferred Employees), <u>Section 5</u> (Closing Conditions), <u>Section</u> [<u>6.3</u>](#_bookmark11) (Cooperation Related to Transferring Employees), and nothing in this Agreement or the Master Purchase Agreement shall be construed to override or limit the application of Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7**Indemnification**. Certain indemnification obligations of Seller Parent and Seller Affiliate, as applicable, with respect to matters arising under or relating to this Agreement are set forth on <u>Schedule</u><u> </u><u>7.2(f)</u> of the Master Purchase Agreement, as amended. Notwithstanding anything to the contrary herein, the laws of Sweden shall apply solely to the extent necessary to determine the existence, nature, and amount of any Damages (as defined in the Master Purchase Agreement) owed to Purchaser Parent or Purchaser Affiliate pursuant to <u>Schedule 7.2(f)</u> and shall have no application to any procedural, administrative, or process-related aspects of any indemnification claim brought thereunder. All matters relating to indemnification procedures, processes, and dispute resolution, including without limitation the assertion, defense, settlement, and resolution of indemnification claims, shall be governed exclusively by the Master Purchase Agreement and the Laws of the State of New York, including but not limited to <u>Section 7.5</u> of the Master Purchase Agreement (*Exclusivity of Indemnification Remedies*), <u>Section 7.6</u> of the Master Purchase Agreement (*Indemnification Procedures*), <u>Section 7.7</u> of the Master Purchase Agreement (*Tax Treatment of Indemnification Payments*), and <u>Section 9.7</u> of the Master Purchase Agreement (*Governing Law; Dispute Resolution*). In no event shall Purchaser Parent or Purchaser Affiliate be entitled to recover, or shall Seller Parent or Seller Affiliate be obligated to pay, more than once for any Damages arising out of the same facts, circumstances, events, or occurrences, regardless of whether such recovery is sought under this Agreement or the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8**Governing 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8.1This Agreement is governed by and construed in accordance with the laws of Sweden, without regard to its principles of conflicts of laws.

&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;9.8.2Any dispute, controversy or claim arising out of, or in connection with this Agreement, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the rules of the Arbitration Rules of the SCC Arbitration Institute. The language to be used in the arbitral proceedings shall be English. The seat of arbitration shall be Stockholm. The arbitral tribunal shall be composed of three arbitrators.

&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;9.8.3The Parties undertake and agree that all arbitral proceedings conducted with reference to this arbitration clause will be kept strictly confidential. This confidentiality undertaking shall cover all information disclosed in the course of such

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arbitral proceedings, as well as any decision or award that is made or declared during the proceedings. Information covered by this confidentiality undertaking may not, in any form, be disclosed to a third party without the written consent of the other Parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9**Counterparts**. This Agreement may be executed in one or more counterparts, including via electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

*[Signature Page Follows.]*

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**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

#### Ascensia Diabetes Care Holdings AG
*(two signatories required)*

By: <u>/s/ Koichiro Sato</u> 

Name: Koichiro Sato

Title: Chief Executive Officer

*(two signatories required)*

By: <u>/s/ Marieke Jansen</u> <br>Name: Marieke Jansen

Title: General Counsel

[*Signature Page to Local Asset Purchase Agreement (Sweden)*]

------

**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

#### PURCHASER AFFILIATE:
**Senseonics Sweden AB**

By: <u>/s/ Timothy T. Goodnow, Ph.D.</u> 

Name: Timothy T. Goodnow, Ph.D.

Title: Director

By: <u>/s/ Rick Sullivan</u> 

Name: Rick Sullivan

Title: Director

[*Signature Page to Local Asset Purchase Agreement (Sweden)*]

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<u>Schedule</u><u> </u><u>1</u>

**Sweden Purchased Assets**

[\*\*\*]

------

<u>Schedule</u> <u>2</u>

**Tender Contracts**

[\*\*\*]

------

<u>Schedule</u><u> </u><u>2.2</u>

#### Sweden Excluded Assets
[\*\*\*]

------

<u>Schedule</u><u> </u><u>2.5</u>

**Sweden Transferred Employees**

[\*\*\*]

------

<u>Schedule</u> <u>3</u>

#### Other Sweden Transferred Contracts
[\*\*\*]

------

## Exhibit 2.3

#### EXHIBIT 2.3
**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.**

#### BUSINESS TRANSFER AGREEMENT

#### Senseonics Spain S.L.U. <br>and <br>Ascensia Diabetes Care Spain, S.L.U.

#### Dated as of March 12, 2026

------

**Table of Contents**

**Page**

<sup>1. Definitions</sup>[2](#_Toc228989135)

<sup>2. Sale and Purchase of the Spain Business</sup>[3](#_Toc228989136)

<sup>3. Purchase Price.</sup>[5](#_Toc228989137)

<sup>4. Closing Date</sup>[5](#_Toc228989138)

<sup>5. Closing Conditions</sup>[5](#_Toc228989139)

**[6.](#_Toc228989140) [Requirements to Transfer the Spain Purchased Assets](#_Toc228989140)**[6](#_Toc228989140)

**[7.](#_Toc228989141) [Requirements to Transfer the Spain Transferred Employees](#_Toc228989141)**[8](#_Toc228989141)

<sup>8. Requirement to Transfer of Data.</sup>[9](#_Toc228989142)

<sup>9. Transfer of Benefits</sup>[10](#_Toc228989143)

<sup>10. Post-Closing Covenants</sup>[10](#_Toc228989144)

<sup>11. Representations and Warranties.</sup>[10](#_Toc228989145)

**[12.](#_Toc228989146) [Exclusivity](#_Toc228989146) [of](#_Toc228989146) [Indemnification](#_Toc228989146) [Remedies](#_Toc228989146) [under](#_Toc228989146) [Master](#_Toc228989146) [Purchase](#_Toc228989146) [Agreement](#_Toc228989146)**[11](#_Toc228989146)

<sup>13. Taxes</sup>[12](#_Toc228989147)

<sup>14. Miscellaneous.</sup>[12](#_Toc228989148)

&nbsp;&nbsp;-i-<br>

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**THIS BUSINESS TRANSFER AGREEMENT** (the "**Agreement**"), dated as of March 12, 2026, is by and between **ASCENSIA DIABETES CARE SPAIN, S.L.U.**, incorporated under the laws of Spain, with registered office address at Pz de la Pau, s/n, WTC Alameda Park Ed.6, 3 Planta, Cornella de Llobregat, Barcelona (Spain), with Spanish Tax ID number B87346433 and duly registered with the Commercial Registry of Barcelona under volume 45,406, sheet 29, page B-486684 (the "**Seller Affiliate**"), duly represented by [\*\*\*], as Sole Director of the Seller Affiliate by virtue of the public deed granted before the Notary Public, Mr. J.V.Torres Montero, on November 6, 2011, number 3,120 of his protocol and duly registered with the Commercial Registry of Barcelona under entry 11; and **SENSEONICS SPAIN S.L.U.**, incorporated under the laws of Spain, with registered office address at C/ Muntaner 239, Ático, 08021 Barcelona (Spain), with Spanish Tax ID number B24798324 and duly registered with the Commercial Registry of Barcelona under page B-645444 (the "**Purchaser Affiliate**") duly represented by [\*\*\*], in force, as joint and several director of the Purchaser Affiliate by virtue of the public deed granted before the Notary Public, Mr. I. Molinos Gil, on November 5, 2025, number 5,834 of his protocol and duly registered with the Commercial Registry of Barcelona under entry 1. Hereinafter, the Seller Affiliate and the Purchaser Affiliate shall be jointly referred to as the **"Parties"** and each of them a "**Party**".

**Preamble**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.**ASCENSIA DIABETES CARE HOLDINGS AG**, a company organized under the laws of Switzerland (hereinafter "**Seller Parent**"), which is the ultimate parent company of the Seller Affiliate, and **SENSEONICS, INCORPORATED,** a Delaware corporation (hereinafter "**Purchaser Parent**"), the ultimate parent company of the Purchaser Affiliate have entered into a Master Asset Purchase Agreement, dated December 31, 2025 (as may be amended from time to time, the "**Master Purchase Agreement**"), pursuant to which, among other things, Seller Parent agreed to sell, or cause one or more of its Affiliates (including Seller Affiliate), to sell to Purchaser Parent or one or more of its Affiliates (including Purchaser Affiliate), certain CGM Activities (as defined in the Master Purchase Agreement) in particular through the sale of certain assets of certain affiliates of Seller Parent (the "**Global Transaction**"). A copy of the executed Master Purchase Agreement is attached hereto as <u>Annex I</u>. Any capitalized terms used in this Agreement and not herein defined shall have the meaning assigned to such terms in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.The Seller Parent's main activity is, among others, the business of marketing, selling and distributing the Products in the Territory (the "**Business**"). The Seller Parent indirectly carries out the Business in Spain through the Seller Affiliate who owns the right, title and interest to the Spain Purchased Assets (including the Spain Transferred Contracts), the Spain Assumed Liabilities and the Transferred Employees (as each term is defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.Seller Affiliate owns the right, title and interest to the Specified European Assets located in Spain (the **"Spain Purchased Assets"**) which, together with the Spain Assumed Liabilities and Transferred Employees, represent its business (going concern) of marketing, selling and distribution of the Products in Spain (the **"Spain Business"**). Seller Affiliate desires to sell the Spain Business to Purchaser Affiliate, and Purchaser Affiliate wishes to purchase from Seller Affiliate, the Spain Business, upon the terms and subject to the conditions set forth in this Agreement and the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.On [\*\*\*], the Seller Affiliate has notified the Transferred Employees' (as this term is defined below) workers' representatives, that, within the context of the Global Transaction, the labor contracts of the Transferred Employees, will be assigned in favor of the Purchaser Affiliate. A copy of such notification is attached hereto as <u>Schedule (D)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.In the context of the Global Transaction and in accordance with the Master Purchase Agreement, the Seller Affiliate desires to sell, transfer and assign to the Purchaser Affiliate, and the Purchaser Affiliate desires to purchase, acquire and assume from the Seller Affiliate, as a going concern,

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the Spain Business upon the terms and subject to the conditions set forth in this Agreement and the provisions of the Master Purchase Agreement.

**NOW, THEREFORE**, in consideration of the foregoing and the respective representations, warranties, covenants, agreements and conditions set forth in this Agreement, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Definitions**. The following terms shall have the following meanings when used in this Agreement. Any capitalized terms used in this Agreement and not herein defined shall have the meaning assigned to such terms in the Master Purchase Agreement:

"**Agreement**" means this agreement.

"**Business**" has the meaning ascribed to such term at the Preamble.

"**Closing Conditions**" has the meaning ascribed to such term in Clause [5.](#_bookmark10)

"**Closing Date**"has the meaning ascribed to such term in Clause [4.](#_bookmark9)

"**Closing**" has the meaning ascribed to such term in Clause [4.](#_bookmark9)

"**Excluded Assets**" shall mean any asset not transferred as per the terms and conditions of this Agreement and/or the Master Purchase Agreement.

"**Global Transaction**" has the meaning ascribed to such term at the Preamble.

"**Master Purchase Agreement**" has the meaning ascribed to such term at the Preamble.

"**Party**" **or** "**Parties**" has the meaning ascribed to such term at the Preamble.

"**Person**" shall mean any individual, entity or governmental body.

"**Products**" shall mean the following proprietary products of Purchaser Parent currently marketed under the brand "Eversense": (a) Eversense® CGM System (90-day product); (b) Eversense® XL CGM System (180-day product outside the US); and (c) Eversense XL 2.0; (d) extended Eversense 365-day product (Rome 1 & Rome 2).

"**Public Sector Contracts Law**" has the meaning ascribed to such term in Clause [5.1.1(b)](#_bookmark13).

"**Purchaser Affiliate**" has the meaning ascribed to such term at the Preamble.

"**Purchaser Parent**" has the meaning ascribed to such term at the Preamble.

"**Seller Affiliate**" has the meaning ascribed to such term at the Preamble.

"**Seller Group**"shall mean the Seller Parent and its Affiliates.

"**Seller Parent**" has the meaning ascribed to such term at the Preamble.

"**Spain Assumed Liabilities**" has the meaning ascribed to such term in Clause [2.1.3](#_bookmark5).

"**Spain Business**" has the meaning ascribed to such term at the Preamble.

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"**Spain Purchase Price**" has the meaning ascribed to such term in Clause [3.1.](#_bookmark8)

"**Spain Purchased Assets**" has the meaning ascribed to such term at the Preamble.

"**Spain Tender Contracts**" has the meaning ascribed to such term in Clause [6.2.1(a)](#_bookmark16).

"**Spain Transferred Contracts**" has the meaning ascribed to such term in Clause [2.1.1(b)](#_bookmark4).

"**Spain Transferred Employees**" has the meaning ascribed to such term in Clause [2.1.5](#_bookmark6).

"**Spanish Workers Statute**" has the meaning ascribed to such term in Clause [7](#_bookmark18).

"**Additional TUPE Notification**" has the meaning ascribed to such term in Clause [7.4](#_bookmark19).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Sale and Purchase of the Spain Business**. The purpose of this Agreement is the sale and purchase of the Spain Business. Consequently, subject to the terms and conditions of this Agreement and the Master Purchase Agreement and, in particular, to the fulfilment of the Closing Conditions detailed in Section 5 of this Agreement, the Seller Affiliate sells and will transfer to the Purchaser Affiliate on the Closing Date, who purchases and will acquire the Spain Business on the Closing Date. In particular:

&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;**2.1.1**<u>Purchased</u><u> </u><u>Assets</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Seller Affiliate shall sell, grant, convey, transfer, assign and deliver to the Purchaser Affiliate and the Purchaser Affiliate shall accept purchase, assume and acquire from the Seller Affiliate (free and clear of all Encumbrances) all right, title and interest in and to the Spain Purchased Assets, including such assets listed on <u>Schedule</u><u> </u>[<u>2.1.1</u>](#_bookmark2)[<u>(a)</u>.](#_bookmark3)For the avoidance of doubt, the Spain Purchased Assets, shall also include such assets which are exclusively related to, or used by the Seller Affiliate in connection with, the operation or conduct of the Spain Business, and not otherwise included on <u>Schedule</u> [<u>2.1.1</u>](#_bookmark2)[<u>(a)</u>.](#_bookmark3)

&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)**Upon proper and valid transfer from Seller Affiliate to Purchaser Affiliate, Purchaser Affiliate shall subrogate and/or succeed to the Seller Affiliate and assume any rights and obligations relating to the Tender Contracts listed under <u>Schedule</u><u> </u>[<u>2.1.1</u>](#_bookmark2)[<u>(b)</u>](#_bookmark4)<u>-I</u> and other Contracts listed under <u>Schedule</u> [<u>2.1.1</u>](#_bookmark2)[<u>(b)</u>](#_bookmark4)<u>-II</u> (collectively with the Tender Contracts listed in <u>Schedule</u> [<u>2.1.1</u>](#_bookmark2)[<u>(b)</u>](#_bookmark4)<u>-I</u>, the "**Spain Transferred Contracts**").

&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;**2.1.2**<u>Excluded Assets</u>. The Spain Purchased Assets do not include, and Seller Affiliate is not selling, assigning, transferring, conveying or delivering, and Purchaser Affiliate is not purchasing, acquiring or accepting from Seller Affiliate, any of the Excluded Assets.

&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;**2.1.3**<u>Assumed Liabilities</u>. Upon and subject to the terms, conditions, representations and warranties of the Seller Affiliate contained herein and the terms and conditions of the Master Purchase Agreement, including, without limitation, <u>Section 1.4(a)</u> of the Master Purchase Agreement (*Excluded Liabilities*), <u>Section 1.9</u> of the Master Purchase Agreement (*Transfer Taxes*), <u>Section 1.10</u> of the Master Purchase Agreement (*European CGM Activities*), Section 8.5 of the Master Purchase Agreement (*Contract Matters*) and <u>Section 8.6</u> of the Master Purchase Agreement (*Misallocated Assets*), the Purchaser Affiliate shall assume as of the Closing Date (collectively, the "**Spain Assumed Liabilities**"): (i) the Liabilities and obligations under the Spain Transferred Contracts, but (1) only to the extent arising out of obligations performed or required to be performed by Purchaser Affiliate under such Spain Transferred Contracts after the assignment and transfer of such Spain Transferred Contracts on the Closing (or in the case of the

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assignment and/or transfer after the Closing, the date of such assignment and/or transfer) and not on or before such date, (2) only to the extent such obligations do not arise from or relate to any breach by any member of the Seller Group of any provision of any of such Spain Transferred Contracts, and (3) only to the extent such obligations do not arise from or relate to any event, circumstance or condition occurring or existing on or prior to the Closing Date that, with notice or lapse of time, would constitute or result in a breach of any of such Spain Transferred Contracts; (ii) liabilities accruing, arising out of or relating to the conduct or operation of the Spain Business or the ownership or use of the Spain Purchased Assets, solely to the extent such liabilities arise or accrue after the Closing (iii) all liabilities and obligations in respect of the Spain Transferred Employees solely on a going-forward basis after the Closing Date due to any action or omission taken place after the Closing Date. For the avoidance of doubt, the Purchaser Affiliate (nor Purchaser) shall not assume any Liability arising from: (1) any Spain Transferred Employees who challenge the Transfer and such claim is confirmed by a judicial court on a final and irrevocable judgment, or who do not definitely transfer to Purchaser Affiliate for other reasons, Seller Affiliate shall bear all claims and liabilities in respect of such employees, including claims to continuous remuneration and any costs arising from or in connection with terminating the employment relationship with such employees (including, without limitation, severance payments, court costs and attorneys' fees in labor court disputes, severance or redundancy payments or any other entitlements, including those required by Law) and (2) any Transferred Employees amounts and payments accrued before the Closing Date (including payment of accrued and not taken holiday, proportional of extraordinary payments, variable remuneration and any other social benefits). Both Parties will work in good faith in order to minimize costs in this regard and with the aim of successfully avoiding alterations in the collective of Spain Transferred Employees as it is defined in <u>Schedule</u> [<u>2.1.3</u>.](#_bookmark5)

&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;**2.1.4**<u>Excluded</u><u> </u><u>Liabilities</u>. Other than the Spain Assumed Liabilities as provided for in <u>Section</u> [<u>2.1.3</u>](#_bookmark5) of this Agreement, the Purchaser Affiliate shall not assume, and shall have no liability for any Liabilities of the Seller Affiliate of any kind, character or description, whether accrued, absolute, contingent or otherwise, it being understood that the Purchaser Affiliate is expressly disclaiming any express or implied assumption of any Liabilities other than after the Closing Date, the Spain Assumed Liabilities. For the avoidance of doubt, any Liabilities, claims, disputes, costs or obligations that are based upon, arise out of, relate to or result from any act, omission, event, circumstance or condition occurring or existing prior to the Closing Date shall be the sole responsibility of the Seller Affiliate, irrespective of when such Liabilities, claims or obligations are asserted, quantified, become due or payable, all the above subject to the terms and conditions and limitations set forth in the Master Purchase 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.5**<u>Spain Transferred Employees</u>. The Purchaser Affiliate, as a result of the succession of the Spain Business, shall succeed the Seller Affiliate in the contracts with all the employees allocated to the Spain Business and who are listed in <u>Schedule</u><u> </u>[<u>2.1.5</u>](#_bookmark6)and that are validly transferred to Purchaser Affiliate pursuant to this Agreement and applicable Law (the "**Spain Transferred Employees**").

For clarification purposes, the Parties expressly state that the Seller Affiliate transfers and the Purchaser Affiliate acquires all the above elements forming part of the Spain Business as a whole. This means that they are transferred as integral parts of a functioning production unit (*unidad productiva*) that can continue to be operated autonomously and independently, and not each of them as separate and individually considered elements or objects.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Purchase Price.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1**<u>Spain Purchase Price</u>. As consideration for the sale, transfer, conveyance, assignment and delivery to the Purchaser Affiliate of the Spain Business, the Purchaser Affiliate will pay (or cause to be paid) to the Seller Affiliate (or, in the case of a negative Spain Purchase Price, the Seller Affiliate will pay or cause to be paid to the Purchaser Affiliate) on the Closing Date (by wire transfer of immediately available funds), the Net Book Value of the Spain Business calculated in accordance with <u>Section 1.5</u> (*Purchase Price; Payment of Purchase Price; Adjustment of Purchase Price*) of the Master Purchase Agreement (the "**Spain Purchase Price**"), subject to the terms, conditions and adjustments set forth therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2**<u>Authorization</u>. Purchaser Parent is authorized by the Purchaser Affiliate, with the express consent of the Seller Affiliate, to conduct payment of the Spain Purchase Price pursuant to this Agreement and Seller Parent is authorized by the Seller Affiliate with the express consent of the Purchaser Affiliate, to receive payment of the Spain Purchase Price pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Closing Da**<u>t</u>**e.** Unless otherwise designated by the Parties, the closing of the purchase of the Spain Business by Purchaser Affiliate (the "**Closing**"), shall take before the Spanish Notary selected by the Purchaser Affiliate on the [\*\*\*] following the satisfaction and/or waiver of all conditions to the Closing set forth in <u>Section</u> [<u>5</u>](#_bookmark10) of this Agreement and Section 5 of the Master Purchase Agreement (*Conditions Precedent to the Closing*) (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction and/or waiver by the Purchaser Affiliate of such conditions) or at such other place, time or date as may be mutually agreed upon in writing by Seller Affiliate and Purchaser Affiliate. For purposes of this Agreement, the "**Closing Date**" shall mean the time and date as of which the Closing actually takes place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Closing Conditions**. The obligations of the Parties hereto to effect the Closing and consummate the transactions contemplated hereby shall be subject to the satisfaction or waiver by the Purchaser Affiliate at or prior to [\*\*\*] of all the applicable conditions set forth in Section 5 (*Conditions Precedent to the Closing*) of the Master Purchase Agreement and the following conditions (the "**Closing 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.1**<u>Tender</u><u> </u><u>Contracts</u><u> </u><u>Communication</u><u> </u><u>and</u><u> </u><u>Consent</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Transfer of the Spain Business to the Purchaser Affiliate is subject to submitting to the relevant public contracting authorities of the Spain Tender Contracts, of the communication of the transfer of the Spain Tender Contracts according to this clause (the "**Tender Contracts Communications**").

&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)**Consequently, the Parties undertake to jointly submit to the relevant public contracting authorities of the Spain Tender Contracts, as soon as possible after the signing of this Agreement and, in any case, within [\*\*\*], the Tender Contracts Communications informing that the transfer of a business unit in the form attached as <u>Schedule</u> [<u>5.1.1</u>](#_bookmark11)[<u>(b)</u>](#_bookmark13) (*transmisión de empresa o rama de actividad*) will be executed, giving rise to the consequences foreseen in Articles 98 and 144 of Law 9/2017, of 8 November, on Public Sector Contracts (*Ley 9/2017, de 8 de noviembre, de Contratos del Sector Público*) (the "**Public Sector Contracts 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)**The Parties expressly agree that the Closing Condition set forth in Section [5.1.1](#_bookmark11)[(a)](#_bookmark12) shall be understood fulfilled if: (i) the Parties receive a communication from the relevant public contracting authorities acknowledging receipt or confirming that consent is not required or accepting the

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transaction, or (ii) no response of any kind is obtained from the relevant public contracting authorities within [\*\*\*] of the Parties submitting their formal notice in accordance with the preceding paragraph.

&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;**(d)**It being understood that, in the period between the signing of this Agreement and the submission of the Tender Contracts Communications, the Spain Tender Contracts shall be performed and fulfilled by the Seller Affiliate in good faith and in the ordinary course of business consistently with past practice and in compliance with the provisions of the Master Purchase Agreement, the Transition Services Agreement and of the Amended and Restated Existing 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.2**<u>Other Contracts Consents</u>. Each of the Consents to the Contracts identified as Tier 1a or Tier 1b Contracts on <u>Schedule</u> [<u>2.1.1(b)</u>](#_bookmark4)<u>-II</u> shall have been obtained as of the Closing Date and evidence of such Consent shall be delivered to the Purchaser Affiliate and shall be in full force and effect.

&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;**5.1.3**<u>Order</u><u> </u><u>to</u><u> </u><u>Cash</u><u> </u><u>and</u><u> </u><u>Delivery</u>. Purchaser Parent and Purchaser Affiliate shall have established the procedures and systems that are operational and validated to issue invoices through its enterprise resource planning (ERP) system and facilitate the delivery of the Products and related documentation to customers, and shall have established the processes and obtained all applicable Governmental Authorizations in Spain, collectively to conduct order, billing and delivery consistent with applicable regulatory and tender requirements (the "**Order to Cash and Delivery Processes**").

For clarification purposes, it is hereby stated that (i) the Closing Conditions suspend the obligation to proceed with the Closing until they are fulfilled, but do not suspend the effectiveness of the other obligations established in this Agreement, the Transition Services Agreement and the Master Purchase Agreement, which shall take full effect from the moment of its signing; and (ii) the Closing Conditions are established in favor of the Purchaser Affiliate, who may waive its fulfilment prior to the long-stop date referred to in Section [5](#_bookmark10) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **Requirements to Transfer the Spain Purchased Assets**. In accordance with the provisions of <u>Section 2</u> above and by virtue of this Agreement, the Purchaser Affiliate shall acquire all rights, title and interest in the Spain Purchased Assets, as described below, subject to the fulfillment or waiver by the Purchaser Affiliate of all the Closing Conditions set forth in Section 5 above:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1Requirements to Transfer the Spain Purchased Assets.** The Spain Purchased Assets shall be transferred as a single entity, with all their inherent and accessory elements, with all its rights, free of Encumbrances, in their current state of use and condition, and up to date with the payment of expenses of any kind. The Parties shall cooperate in good faith, adopt any measures and grant any documents that may be necessary or convenient for the successful completion of the sale and transfer of these assets, as well as for their registration in the relevant registries in favour of the Purchaser Affiliate, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2Requirements to Transfer the Spain Transferred Contracts**. The Purchaser Affiliate shall subrogate and/or succeed to the Seller Affiliate and assume any rights and obligations relating to the Spain Transferred Contracts, as described below:

&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;**6.2.1**<u>Spain</u><u> </u><u>Tender</u><u> </u><u>Contracts</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**Hereby, and in accordance with Spanish Law, the Purchaser Affiliate shall succeed the Seller Affiliate in all Tender Contracts or position in all public tenders relating to the Spain

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Business entered into by the Seller Affiliate with any public administrations or bodies and/or those subject to public procurement rules, identified in the attached <u>Schedule</u><u> </u>[<u>2.1.1(b)</u>](#_bookmark4)<u>-I</u> (the "**Spain Tender Contracts**").

&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)**By mutual agreement that this Agreement constitutes a transfer of a business unit (*transmisión de empresa o rama de actividad*), Articles 98 and 144 of the Public Sector Contracts Law, shall apply to the transfer and succession of all the Spain Tender Contracts. Likewise, this clause shall apply to any other Tender Contracts entered into by the Seller Affiliate with any public administrations or those subject to the aforementioned public procurement rules, relating to the Spain Business, and not listed as Spain Tender Contracts in <u>Schedule</u> [<u>2.1.1(b)</u>](#_bookmark4)<u>-I</u> (including, where applicable, private contracts (*contratos privados*) and publicly funded contracts (*contratos subvencionados*), bids submitted in the context of public tenders, tenders awarded pending contractual formalization and administrative contracts). In accordance with the Public Sector Contracts Law, the transfer of the Spain Business shall meet the following requirements:

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)**Within [\*\*\*], the Parties shall jointly submit a communication to the relevant public contracting authorities informing that the transfer of the Spain Business will be produced giving rise to the consequences foreseen within Articles 98 and 144 of the Public Sector Contracts 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)**The Purchaser Affiliate shall meet the conditions of legal capacity, absence of prohibition from contracting, and hold the economic and technical solvency required to the original awardee of the Spain Tender Contracts.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)**If any of the Spain Tender Contracts (and or the administrative specifications) required a definitive guarantee to the original awardee, said definitive guarantee shall be renewed or replaced by a new guarantee taken out by the Purchaser Affiliate on the Closing Date or as soon as possible thereafter.

&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;**(c)**During the interim period and after the Closing Date, the Parties shall cooperate and use reasonable best efforts and take any necessary or convenient measures, including actions before public administrations and contracting bodies, to ensure the successful completion of the succession of the aforementioned Contracts in accordance with the Master Purchase Agreement and the Transition Services Agreement. However, on Closing Date or afterwards, if the successful assignment of any of the Spain Tender Contracts is not feasible and/or the public authorities oppose to the transfer of such Spain Tender Contract, the Parties agree that the relevant Contract shall be excluded from the scope of the transaction regulated herein, and the Parties shall have no further obligations with respect to it under this Agreement, the Master Purchase Agreement and/or the Transition Services Agreement. For the avoidance of doubt, such a Spain Tender Contract shall be considered an Excluded Asset, and any Liability arising from it shall be considered an Excluded Liability. Notwithstanding the above, if after Closing Date any of the Spain Tender Contracts that has been considered an Excluded Asset pursuant to above can finally be successfully assigned, such Spain Tender Contract shall automatically be deemed, for the purposes of this Agreement, a Transferred Asset.

&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;**(d)**As indicated above, after Closing has occurred, a second communication will be submitted by the Parties to the relevant public contracting authorities of the Spain Tender Contracts informing that the Transaction has been completed, for the purposes of Articles 98 and 144 of the Public Sector Contracts Law in the form attached hereto as <u>Schedule</u> [<u>5.1.1(d)</u>.](#_bookmark14)

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&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;**6.2.2**<u>Other Contracts</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Purchaser Affiliate shall subrogate and/or succeed to the Seller Affiliate and assume all rights and obligations relating to any other Contracts not identified as Spain Tender Contracts, including, without limitation, the Contracts listed in <u>Schedule</u> [<u>2.1.1(b)</u>](#_bookmark4)<u>-II</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **Requirements to Transfer the Spain Transferred Employees**. The Parties to this Agreement declare and agree that the transfers provided for in this Agreement constitute the transfer of an independent productive unit (unidad productiva autónoma) capable of continuing its activity and, consequently, fall within the scope of a business succession under the terms of Article 44 of the Royal Legislative Decree 2/2015, of 23 October, approving the revised text of the Workers' Statute (the "**Spanish Workers Statute**"). Consequently:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1**All of the Spain Transferred Employees, with all their acquired employment and social security related rights, shall be transferred to the Purchaser Affiliate on the Closing Date as part of the transfer of the Spain Business under the same terms and conditions of employment that the Spain Transferred Employees had with the Seller Affiliate up until the Closing Date, including type of contract, seniority, gross annual salary (fixed and variable remuneration, salary in kind) and any additional social benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2**Therefore, on the Closing Date, the Purchaser Affiliate shall be subrogated into the relevant Seller Affiliate's position respecting all employment and social security rights and obligations, arising from or associated with the Spain Transferred Employees employment relationships in accordance with the Spanish legislation applicable to transfers of undertaking (*sucesión de empresa*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3**The Parties shall cooperate in good faith and shall take any measures and execute any documents that may be necessary or convenient for the successful completion of the Spain Business succession and the transfer of the Spain Transferred Employees under the terms provided for in the applicable Spanish legislation, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4**Seller Affiliate shall be obligated to send an additional notification to the legal workers' representatives of the Spain Transferred Employees before the Closing Date detailing the effective date of the transfer in accordance with Article 44.6 et seq. of the Spanish Workers Statute, in the form attached hereto as <u>Schedule</u><u> </u>[<u>7.4</u>](#_bookmark19)(the **"Additional TUPE Notification"**). The Seller and the Purchaser will mutually agree in good faith on the form, content and timing of the Additional TUPE Notifications before it is sent to the workers' representatives of the Spain Transferred Employees;

&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;**7.4.1**Providing all required employee information and documentation to Purchaser Affiliate in a timely manner;

&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;**7.4.2**Executing any local transfer agreements or ancillary documents necessary to effectuate the transfer of the Spain Transferred Employees;

&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;**7.4.3**Maintaining employment terms and conditions as required by the 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.4**Coordinating with Purchaser Affiliate on timing and communications to ensure compliance with statutory notice periods and consultation obligations; and

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&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;**7.4.5**Seller Affiliate shall not take any action that would impede or delay the transfer of Spain Transferred Employees and shall promptly notify Purchaser Affiliate of any issues or objections raised by employees or authorities in Spain.

&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;**7.4.6**Seller Affiliate shall submit to Purchaser Affiliate on the Closing Date all names, documents and files, in each case whether or not in electronic form, with respect to personnel data of the Spain Transferred Employees (the "**Transferred Employees Information**"), except for such Spain Transferred Employees Information which must be maintained by Seller Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.7**Seller Affiliate shall assume and pay for all statutory and contractual proportional part of extraordinary payments, paid time-off entitlements accrued but not used and applicable variable remuneration accrued by Spain Transferred Employees prior to the Closing Date.

&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;**7.4.8**Carry out the necessary steps before relevant authorities (including Social Security) in order to properly deregister Spain Transferred Employees from the Seller Affiliate and subsequently register them before the Purchaser Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **Requirement to Transfer of Data**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1Transferred Data**.

&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;**8.1.1**The Parties acknowledge and agree that the transfer of the Spain Business under this Agreement includes the transfer to Purchaser Affiliate of the following, in each case solely to the extent directly and exclusively relating to the Spain Business and necessary for the ownership, operation and continuity of the Spain Business following Closing:

&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)**data, files, records and other business information (including promotional, marketing and sales information and materials), in any form or medium, including such copies and, where available, source/editable files as are reasonably necessary for continued use in the operation of the Spain Business; 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;**(b)**any transfer, assignment or licensing of industrial and intellectual property rights and IT-related rights and assets in connection with the Spain Business shall be governed by the MAPA 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)**The items described above are referred to collectively as the "**Transferred Data**". For the avoidance of doubt, Transferred Data does not include any data, records, materials or rights that do not relate to the Spain Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2**To the extent the Transferred Data includes personal data, each Party shall comply with applicable data protection laws (including GDPR and Organic Law 3/2018, as amended). Where required, the relevant data subjects shall be informed of any change of controller by the Purchaser. Each Party shall act as an independent controller (*responsable del tratamiento*) with respect to its processing of any personal data received under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3**To the extent any third-party contracts, licences or other arrangements are strictly necessary to access, host, store, maintain or otherwise use the Transferred Data in connection with the Spain Business, the Parties shall cooperate in good faith to procure the transfer, novation and/or continuation (as applicable) of such arrangements, subject to any required third-party consents.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4**The Parties shall implement appropriate technical and organizational measures to protect the Transferred Data during any transfer or migration (including secure transmission and access controls) and shall execute such documents and take such actions as may be reasonably necessary to effect and evidence the transfers contemplated by this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5**To the extent that any third-party consent is required in order to transfer, assign and/or make available to Purchaser Affiliate any of the Transferred Data, the Parties shall cooperate in good faith to procure any such required third-party consent(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **Transfer of Benefits.** Benefits with regard to the Spain Business shall be transferred to the Purchaser Affiliate as of the Closing Date notwithstanding any delay in completing the formalities of title transfer under applicable Law and the provision of Section [0.](#_bookmark17) Unless otherwise expressly agreed in the remaining provisions of this Agreement, the allocation of income and costs corresponding to different time periods (including employment costs) shall be made in accordance with the principle of accrual (*principio del devengo*) as defined in the General Accounting Plan (*Plan General de Contabilidad*) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1**All income and costs of the Spain Business for the period prior to the Closing Date (excluded) shall be for the account of the Seller Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2**All income and costs of the Spain Business for the period beginning on the Closing Date (included) shall be for the account of the Purchaser Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **Post-Closing Covenants**. Sections 8.5 (*Contract Matters*), Section 8.6 (*Misallocated Assets*), and 8.7 (*Employees and Related Matters*) to the extent applicable to Spain Transferred Employees or Non-Transferred Employees of the Master Purchase Agreement shall be applicable *mutatis mutandis* to this Agreement. **Order to Cash and Order to Delivery**. Purchaser Parent and Purchaser Affiliate shall use commercially reasonable efforts to implement the Order to Cash and Delivery Processes [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **Representations and Warranties**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1Representations and Warranties of the Seller Affiliate** The Seller Affiliate hereby represents and warrants to the Purchaser Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Seller Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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)**The Seller Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Seller Affiliate of this Agreement, the performance by the Seller Affiliate of its obligations hereunder and the consummation by the Seller Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Seller Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Seller Affiliate are necessary therefor.

&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;**(c)**This Agreement has been duly executed and delivered by the Seller Affiliate and, assuming the due execution hereof by the Purchaser Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Seller Affiliate, enforceable against the Seller Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable Laws affecting the rights of creditors generally.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2Representations and Warranties of the Purchaser Affiliate**. The Purchaser Affiliate hereby represents and warrants to the Seller Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Purchaser Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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)**The Purchaser Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Purchaser Affiliate of this Agreement, the performance by the Purchaser Affiliate of its obligations hereunder and the consummation by the Purchaser Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Purchaser Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Purchaser Affiliate are necessary therefor.

&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;**(c)**This Agreement has been duly executed and delivered by the Purchaser Affiliate and, assuming the due execution hereof by the Seller Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Purchaser Affiliate, enforceable against the Purchaser Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable Laws affecting the rights of creditors generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3Representation and Warranties Subject to the Master Purchase Agreement.** With respect to representations and warranties of the Seller Affiliate and the Purchaser Affiliate set forth in <u>Sections</u> [<u>11.1</u>](#_bookmark24) and [11.2](#_bookmark25) above and the representations and warranties set out in the Master Purchase Agreement, the duration and consequences of a breach thereof, the remedies of the Parties and the limitations of liability, the Master Purchase Agreement shall entirely apply to this Agreement unless otherwise stated in the Master Purchase Agreement. This Agreement shall not change, modify or alter any provision or clause of the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **Exclusivity of Indemnification Remedies under Master Purchase Agreement**. Each of the parties agree that, except for such equitable remedies as may be available to enforce the covenants and agreements of the Parties that by their terms are to be performed and complied with after the Closing, the indemnification provisions in Section 7 of the Master Purchase Agreement shall be the sole and exclusive legal remedy of such party for any and all claims against the other parties and their respective Affiliates for Damages under the Transactional Agreements (including for the avoidance of doubt, this Agreement); provided, however, that the foregoing sentence shall not be deemed a waiver by any party of any right or remedy arising by reason of any claim based on any Fraud. Certain indemnification obligations of Seller Parent and Seller Affiliate, as applicable, with respect to matters arising under or relating to this Agreement are set forth on <u>Schedule</u><u> </u><u>7.2(f)</u> of the Master Purchase Agreement, as amended. Notwithstanding anything to the contrary herein, Spanish Law shall apply solely to the extent necessary to determine the existence, nature, and amount of any Damages (as defined in the Master Purchase Agreement) owed to Purchaser Parent or Purchaser Affiliate pursuant to <u>Schedule 7.2(f)</u> and shall have no application to any procedural, administrative, or process-related aspects of any indemnification claim brought thereunder. All matters relating to indemnification procedures, processes, and dispute resolution, including without limitation the assertion, defense, settlement, and resolution of indemnification claims, shall be governed exclusively by the Master Purchase Agreement and the Laws of the State of New York, including but not limited to <u>Section 7.5</u> of the Master Purchase Agreement (Exclusivity of Indemnification Remedies), <u>Section</u><u> </u><u>7.6</u> of the Master Purchase Agreement (*Indemnification Procedures*), <u>Section 7.7</u> of the Master Purchase Agreement (*Tax Treatment of Indemnification Payments*), and <u>Section 9.7</u> of the Master Purchase Agreement (*Governing Law; Dispute Resolution*). In no event shall Purchaser Parent or Purchaser Affiliate be entitled to recover,

------

or shall Seller Parent or Seller Affiliate be obligated to pay, more than once for any Damages arising out of the same facts, circumstances, events, or occurrences, regardless of whether such recovery is sought under this Agreement or the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **Taxes**. All taxes and expenses incurred in connection with the Agreement shall be paid in accordance with the allocation in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.** **Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1Master Purchase Agreement**. Sections 4.7 (*Confidentiality*), 6 (*Termination*) and 7 (*Indemnification*) of the Master Purchase Agreement shall be applicable *mutatis mutandis* to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2Severability**. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.3Waiver**. Any of the terms or conditions of this Agreement which may be lawfully waived may be waived in writing at any time by each Party which is entitled to the benefits thereof. Any waiver of any of the provisions of this Agreement by any Party hereto shall be binding only if set forth in an instrument in writing signed on behalf of such Party. Neither the waiver by a Party hereto of a breach of or a default under any one or more of the provisions of this Agreement, nor the failure of a Party, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4Amendment**. This Agreement may not be amended, modified, altered or supplemented other than by a written instrument duly executed and delivered on behalf of the Purchaser Affiliate and the Seller Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.5Interpretation**.

&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;**14.5.1**The annexes to this Agreement are, for all intents and purposes, an integral part thereof, and, consequently, shall be binding on the Parties.

&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;**14.5.2**All headings contained in this Agreement are solely for order and organization purposes and shall not entail any interpretation or limitation on the matters regulated by the provisions in which they are used.

&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;**14.5.3**References to any law or regulation shall be construed as references to such law or regulation as the same may be amended, restated or replaced from time to time.

------

&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;**14.5.4**The singular shall include the plural and vice versa.

&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;**14.5.5**References to the words "include", "including", "in particular", or any similar term or expression are not to be construed as implying any limitation and general words introduced by the word "other" (or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things.

&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;**14.5.6**The Parties have negotiated, drafted and assessed the rights and obligations of this Agreement jointly and with their advisers, and therefore no contra proferentem criteria shall be applicable in the interpretation of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.6Notices.** Any notice or communication given or made under this Agreement shall be in writing and delivered by any means which allows acknowledgement of receipt and content, including registered post, courier or e-mail with a written transaction report. The Parties' addresses for any notice or communication to be made under this Agreement shall be as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Notice to the Purchaser Affiliate:**<br>Senseonics Spain S.L.U.<br>c/o Senseonics Holdings, Inc. | &nbsp;&nbsp;**Notice to the Seller Affiliate:**<br>Ascensia Diabetes Care Spain S.L.U. |
| &nbsp;&nbsp;Attention: [\*\*\*] | &nbsp;&nbsp;Attention: [\*\*\*] |
| &nbsp;&nbsp;Address: 20451 Seneca Meadows Parkway<br>Germantown, MD 20876-7005 | &nbsp;&nbsp;Address: Pz de la Pau, s/n, WTC Alameda Park Ed.6, 3 Planta, Cornella de Llobregat, Barcelona (Spain) |
| &nbsp;&nbsp;Email: [\*\*\*]<br>With cc to: Cooley LLP<br>11951 Freedom Drive | &nbsp;&nbsp;Email: [\*\*\*] |
| &nbsp;&nbsp;Email: [\*\*\*]<br>With cc to: Cooley LLP<br>11951 Freedom Drive | &nbsp;&nbsp;With cc to: [\*\*\*] |
| &nbsp;&nbsp;Email: [\*\*\*]<br>With cc to: Cooley LLP<br>11951 Freedom Drive | &nbsp;&nbsp;Address: Peter Merian-Strasse 90 4052 Basel, Switzerland |
| &nbsp;&nbsp;**Notice to the Purchaser Affiliate:**<br>Senseonics Spain S.L.U.<br>c/o Senseonics Holdings, Inc. | &nbsp;&nbsp;**Notice to the Seller Affiliate:**<br>Ascensia Diabetes Care Spain S.L.U. |
| &nbsp;&nbsp;14th Floor<br>Reston, VA 20190-5656<br>Attn: [\*\*\*]<br>Email: [\*\*\*] | &nbsp;&nbsp;Email: [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.7Notarization.** The Parties agree to notarize this Agreement on the Closing Date. In addition, in accordance with the provisions herein, the Parties shall execute and sign before a notary public any other public instruments necessary or convenient for the successful completion of the sale of the Spain Business and the transactions contemplated in this Agreement.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.8Assignment**. The Parties shall not assign any of their rights or obligations under this Agreement whether by written agreement or by operation of Law (including by merger or sale of all or substantially all assets), without the prior written consent of the other Party; *provided*, that either Party may assign any and all of its rights or obligations under this Agreement to one or more of its Affiliates without the other Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.9Conflicts.** In the event of a conflict between the provisions of this Agreement and the provisions of the Master Purchase Agreement, the Parties agree that the provisions of the Master Purchase Agreement shall prevail unless otherwise stated in the Master Purchase Agreement. Notwithstanding the foregoing, in the event of any conflict, this Agreement shall prevail with respect to <u>Section 2.1.3</u> (*Assumed Liabilities*), <u>Section 2.1.4</u> (Excluded Liabilities), <u>Section 2.1.5</u> (*Transferred Employees*), <u>Section</u><u> </u><u>5</u> (*Closing Conditions*) and <u>Section</u><u> </u><u>7</u> (*Requirements to Transfer the Spain Transferred Employees*), <u>Section 9</u> (*Transfer of Benefits*), and nothing in this Agreement or the Master Purchase Agreement shall be construed to override or limit the application of applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.10Governing Law and Courts**.

&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;**14.10.1**The Parties expressly agree that this Agreement and the obligations assumed by each of the Parties shall be exclusively governed by and construed in accordance with the Spanish Law (*Derecho civil común*).

&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;**14.10.2**The Parties, waiving their right to any other jurisdiction, irrevocably submit to the courts of the city of Madrid (Spain) for the resolution of any dispute, claim or controversy arising from or relating to this Agreement, including any question with respect to its existence, validity, termination, nullification or effectiveness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.11Counterparts**. This Agreement may be executed in one or more counterparts, including via electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

*[Signature Page Follows.]*

------

**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

**SELLER AFFILIATE:**

Ascensia Diabetes Care Spain, S.L.U.

*/s/ María Gemma Pérez Cambra* 

Name: Mrs. María Gemma Pérez Cambra

Title: Sole Director

[*Signature Page to Business Purchase Agreement (Spain)*]

------

**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

**PURCHASER AFFILIATE:**

**Senseonics Spain S.L.**

By: */s/ Timothy Todd Goodnow, Ph.D.* 

Name: Timothy Todd Goodnow, Ph.D.

Title: Joint and Several Director

[*Signature Page to Business Purchase Agreement (Spain)*]

------

<u>Annex A</u>

**Master Purchase Agreement**

[\*\*\*]

(Annex A was omitted because it was previously filed as Exhibit 2.1 to the Company's 2025 Form 10-K filed with the Securities and Exchange Commission on March 2, 2026).

------

<u>Schedule D</u>

**Spain Notification of Transferred Employees' workers' representatives**

[\*\*\*]

------

<u>Schedule 2.1.1(a)</u>

**Spain Purchased Assets**

[\*\*\*]

------

<u>Schedule 2.1.1(b)-I</u>

**Spain Tender Contracts**

[\*\*\*]

------

<u>Schedule 2.1.1(b)-II</u>

**Other Spain Transferred Contracts**

[\*\*\*]

------

<u>Schedule 2.1.5</u>

**Spain Transferred Employees**

[\*\*\*]

------

<u>Schedule 5.1.1(b)</u>

**Tender Contracts Communication**

[\*\*\*]

------

<u>Schedule 6.2.1(d)</u>

**After Closing Communication to Tenders**

[\*\*\*]

------

<u>Schedule 7.4</u>

**Additional TUPE Notification**

[\*\*\*]

------

## Exhibit 2.4

**EXHIBIT 2.4**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL*.***

![Graphic](sens-20260331xex2d4001.jpg)

**LOCAL ASSET PURCHASE AGREEMENT**

among:

Senseonics, Incorporated (**hereinafter "Purchaser Parent**"), Senseonics Deutschland GmbH **(hereinafter the "Purchaser Affiliate")**, Ascensia Diabetes Care Holdings AG **(hereinafter the "Seller Parent")**,

and

Ascensia Diabetes Care Deutschland GmbH **(hereinafter the "Seller Affiliate")**

![Graphic](sens-20260331xex2d4002.jpg)

![Graphic](sens-20260331xex2d4001.jpg)

Dated as of March 12, 2026

![Graphic](sens-20260331xex2d4002.jpg)

------

**TABLE OF CONTENTS**

**Page**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1. Definitions</sup>**[1](#_Toc228977166)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>2. Sale and Purchase of Assets</sup>**[1](#_Toc228977167)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>3. Purchase Price</sup>**[3](#_Toc228977168)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>4. Closing; Closing Date</sup>**[3](#_Toc228977169)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>5. Closing Conditions</sup>**[3](#_Toc228977170)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>6. Termination/Exclusive Remedies</sup>**[4](#_Toc228977171)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**[7.](#_Toc228977172)** **[Requirements for the Transfer of Assets at Closing](#_Toc228977172)** **[4](#_Toc228977172)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>8. Employment Matters</sup>**[5](#_Toc228977173)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>9. Pensions and Value Time Accounts</sup>**[6](#_Toc228977174)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>10. Transfer of Benefits; Covenants</sup>**[8](#_Toc228977175)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>11. Representations and Warranties</sup>**[8](#_Toc228977176)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>12. Taxes</sup>**[10](#_Toc228977177)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>13. Termination/Exclusive Remedies</sup>**[10](#_Toc228977178)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>14. Miscellaneous</sup>**[10](#_Toc228977179)**

i

------

**THIS LOCAL ASSET PURCHASE AGREEMENT** (the "**Agreement**"), dated as of March 12, 2026 (the "**Signing Date**"), is by and among Ascensia Diabetes Care Holdings AG, a company organized under the laws of Switzerland (hereinafter "**Seller Parent**"), which is the ultimate parent company of the Seller Affiliate, Ascensia Diabetes Care Deutschland GmbH, a limited liability company (*Gesellschaft mit beschränkter Haftung*) incorporated in Leverkusen, registered with the commercial register of the local court of Cologne under HRB 86819 and registered business address at Marie-Curie-Strasse 5, 51377 Leverkusen Germany (the "**Seller Affiliate**" and together with Seller Parent, the "**Seller Parties**"), Senseonics, Incorporated, a Delaware corporation (hereinafter "**Purchaser Parent**"), the ultimate parent company of the Purchaser Affiliate and Senseonics Deutschland GmbH, a limited liability company (*Gesellschaft mit beschränkter Haftung*) incorporated under the Laws of Germany, registered with the commercial register of the local court of Munich under HRB 307667 and registered business address at Erika-Mann-Straße 63, 80636 Munich (the "**Purchaser Affiliate**" and together with Purchaser Parent, the "**Purchaser Parties**"). The Purchaser Parties and Seller Parties are collectively referred to herein the "**Parties**" and each of them a "**Party**". Any capitalized terms used in this Agreement and not herein defined shall have the meaning assigned to such terms in the Master Purchase Agreement attached hereto as <u>Annex</u> <u>A</u>.

**Preamble**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.Seller Parent and Purchaser Parent have entered into a Master Asset Purchase Agreement, dated December 31, 2025 (as may be amended from time to time, the "**Master Purchase Agreement**"), pursuant to which, among other things, Seller Parent agreed to sell, or cause one or more of its Affiliates (including Seller Affiliate), to sell to Purchaser Parent or one or more of its Affiliates (including Purchaser Affiliate), certain CGM Activities (as defined in the Master Purchase Agreement) in particular through the sale of certain assets of certain affiliates of Seller Parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.Seller Affiliate owns the right, title and interest to the Specified European Assets located in Germany representing its business (going concern) of marketing, selling and distributing the Products in Germany (collectively, the "**Germany Purchased Assets**") and desires to sell them to Purchaser Affiliate, and Purchaser Affiliate wishes to purchase from Seller Affiliate, the Germany Purchased Assets and, in connection therewith, Purchaser Affiliate is willing to assume the Germany Assumed Liabilities (jointly with the Germany Purchased Assets, the "**Germany Business**"), in each case, upon the terms and subject to the conditions set forth in this Agreement and the Master Purchase Agreement.

**NOW, THEREFORE**, in consideration of the foregoing and the respective representations, warranties, covenants, agreements and conditions set forth in this Agreement and the Master Purchase Agreement, the Parties agree as follows:

**1.** **Definitions**. Unless otherwise expressly stated in this Agreement, terms used but not defined herein shall have the meanings assigned to them in the Master Purchase Agreement. The following terms, used in this Agreement, have the following meanings:

"**Closing**" shall mean the consummation of the transactions set forth in <u>Section</u><u> </u><u>4</u> of this Agreement.

"**Closing Date**" shall mean the date of Closing as provided for in <u>Section</u><u> </u><u>4</u> of this Agreement.

"**Products**" shall mean the following Purchaser proprietary products currently marketed under the brand "**Eversense**": (a) Eversense® CGM System (90-day product); (b) Eversense® XL CGM System (180-day product outside the US); (c) Eversense XL 2.0; (d) Eversense E3, if it´s not already covered by Eversense XL 2.0 and (e) extended Eversense 365-day product (Rome 1 & Rome 2).

**2.** **Sale and Purchase of Assets**.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1** **Purchased Assets**. At the Closing and with effect as of the Closing Date and subject to the conditions set forth in <u>Section 5</u> of this Agreement and <u>Section 5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*), the Seller Affiliate hereby sells, grants, conveys, transfers, assigns and delivers to the Purchaser Affiliate and the Purchaser Affiliate hereby accepts, purchases, assumes and acquires from the Seller Affiliate (free and clear of all Encumbrances) with effect *in rem* (*dingliche Einigung*) all right, title and interest in and to the Germany Purchased Assets, including such assets listed on <u>Schedule</u><u> </u>[<u>2.1</u>](#_bookmark2)<u>(a)</u> ("**Purchased Movable Assets**") and <u>Schedule 2.1(b)</u> (the "**Germany Transferred Contracts**"). For the avoidance of doubt, the Germany Purchased Assets, shall also include such assets, contracts or rights which are exclusively related to, or used by the Seller Affiliate in connection with, the operation or conduct of the Germany Business and not otherwise included on Schedule 2.1(a), Schedule 2.1(b), or Schedule 2.5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2Excluded Assets**. Notwithstanding anything in <u>Section 2.1</u> of this Agreement to the contrary, Seller Affiliate is not selling, assigning, transferring, conveying or delivering, and Purchaser Affiliate is not purchasing, acquiring or accepting from Seller Affiliate and, for the avoidance of doubt, the Germany Purchased Assets shall not include any of the Excluded Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3Assumed Liabilities**. Upon and subject to the terms, conditions, representations and warranties of the Seller Affiliate contained herein and the terms and conditions of the Master Purchase Agreement, including, without limitation, <u>Section 1.5(a)</u> of the Master Purchase Agreement (*Excluded Liabilities*), <u>Section 1.9</u> of the Master Purchase Agreement (*Transfer Taxes*), <u>Section 1.10</u> of the Master Purchase Agreement (*European CGM Activities*), <u>Section</u><u> </u><u>8.5</u> of the Master Purchase Agreement (*Contract Matters*), and <u>Section 8.6</u> of the Master Purchase Agreement (*Misallocated Assets*) Purchaser Affiliate hereby assumes as of the Closing Date (collectively, the "**Assumed Liabilities**"): (i) the Liabilities and obligations under the Germany Transferred Contracts, but (1) only to the extent arising out of obligations performed or required to be performed by Purchaser Affiliate under such Germany Transferred Contracts after the assignment and transfer of such Germany Transferred Contracts on the Closing (or in the case of the assignment and/or transfer after the Applicable Closing, the date of such assignment and/or transfer) and not on or before such date, (2) only to the extent such obligations do not arise from or relate to any breach by any member of the Seller Parties of any provision of any of such Germany Transferred Contracts, and (3) only to the extent such obligations do not arise from or relate to any event, circumstance or condition occurring or existing on or prior to the Closing Date that, with notice or lapse of time, would constitute or result in a breach of any of such Germany Transferred Contracts; (ii) liabilities accruing, arising out of or relating to the conduct or operation of the Germany Business or the ownership or use of the Germany Purchased Assets, solely to the extent such liabilities arise or accrue after the Closing; (iii) all liabilities and obligations in respect of the Germany Transferred Employees solely on a going-forward basis after the Closing Date (the "**Germany Assumed Liabilities**")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4Excluded Liabilities.** Other than, after the Closing Date, the Germany Assumed Liabilities as provided for in <u>Section 2.3</u> of this Agreement, Purchaser Affiliate shall not assume, and shall have no liability for any Liabilities of the Seller Affiliate of any kind, character or description, whether accrued, absolute, contingent or otherwise, it being understood that the Purchaser Affiliate is expressly disclaiming any express or implied assumption of any Liabilities other than after the Closing Date, the Germany Assumed Liabilities; all the above subject to the terms and conditions and limitations set forth in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5** **Employees**. The Purchaser Affiliate, as a result of the succession of the business provided for in the applicable labor legislation, succeeds the Seller Affiliate in the contracts with all employees as allocated to the Germany Business and anonymously listed in <u>Schedule</u><u> </u>[<u>2.5,</u>](#_bookmark3)(all employees being the "**Germany Employees**") as far as such employees will accept employment with Purchaser Affiliate and whose employment therefore shall be transferred to Purchaser Affiliate as of the Closing Date (the transferring employees being the "**Germany Transferred Employees**"), including all rights and obligations arising from or in connection with any collective bargaining agreements (*Tarifverträge*), works agreements (*Betriebsvereinbarungen*), company practices (*betriebliche Übungen*), and other collective arrangements (*kollektive Bestimmungen*) applicable to such Germany Transferred Employees.

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**3.** **Purchase Price**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1Germany Purchase Price**. As consideration for the sale, transfer, conveyance, assignment and delivery to the Purchaser Affiliate of the Germany Purchased Assets, the Purchaser Affiliate will pay (or cause to be paid) to the Seller Affiliate (or, in the case of a negative Germany Purchase Price, the Seller Affiliate will pay or cause to be paid to the Purchaser Affiliate) at the Closing (by wire transfer of immediately available funds), the Net Book Value of the Germany Business calculated in accordance with <u>Section 1.5</u> (*Purchase Price; Payment of Purchase Price; Adjustment of Purchase Price*) of the Master Purchase Agreement (the "**Germany Purchase Price**"), subject to the terms, conditions and adjustments set forth therein. All Transfer Taxes, if any, shall be paid in accordance with the allocation in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2Authorization**. Purchaser Parent is authorized by the Purchaser Affiliate, with the express consent of the Seller Affiliate, to conduct payment of the Germany Purchase Price pursuant to this Agreement and Seller Parent is authorized by the Seller Affiliate with the express consent of the Purchaser Affiliate, to receive payment of the Germany Purchase Price pursuant to this Agreement.

**4.** **Closing; Closing Date**. Unless otherwise designated by the Parties, the closing of the purchase of the Germany Business by Purchaser Affiliate (the "**Closing**"), shall take place remotely via the exchange of documents and signatures following the satisfaction and/or waiver of the Closing Conditions (as defined below) and <u>Section</u><u> </u><u>5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*) (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction and/or waiver of such conditions) or at such other place, time or date as may be mutually agreed upon in writing by Seller Affiliate and Purchaser Affiliate. For purposes of this Agreement, "**Closing Date**" shall mean the time and date as of which the Closing actually takes place. After the Closing has taken place, Seller Affiliate and Purchaser Affiliate shall confirm in a written document, to be jointly executed (at least in duplicate) substantially in the form of the draft attached as **Exhibit 4** (the "**Closing Confirmation**") that the Closing Conditions and <u>Section</u><u> </u><u>5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*) (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction and/or waiver of such conditions) have been satisfied or waived and that the Closing has occurred. For the avoidance of doubt, the legal effect of the Closing Confirmation shall be limited to serving as evidence that all Closing actions have been taken or waived and that the Closing has occurred, but the execution of the Closing Confirmation shall not limit or prejudice the rights of the Parties arising under this Agreement or under applicable Law.

**5.** **Closing Conditions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1Condition Precedent**. The obligations of the Parties hereto to effect the Closing and consummate the transactions contemplated hereby shall be subject to the confirmation and satisfaction or waiver at or prior to the Closing Date of all the applicable conditions set forth in <u>Section 5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*) and each of the following conditions (the "**Closing Conditions**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.1Contract Transfers**: Seller Affiliate has provided to Purchaser Affiliate written proofs of the consents to the assignment or other form of contract transfer of each of the Germany Transferred Contracts related to the Germany Business and the respective framework agreements for supplies and services (Rahmenverträge über Lieferungen und Leistungen) of all mail order companies being a contractual party of Seller Affiliate for the Germany Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.2Order to Cash and Delivery**. Purchaser Parent and Purchaser Affiliate shall have established the procedures and systems that are operational and validated to issue invoices through its enterprise resource planning (ERP) system and facilitate the delivery of the Products and related documentation to customers, and shall have established the processes and obtained all applicable Governmental Authorizations

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in Germany, collectively to conduct order, billing and delivery consistent with applicable regulatory and tender requirements (the "**Order to Cash and Delivery Processes**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.3Pension Assumption**. Purchaser Parent and Purchaser Affiliate shall have established accounts or appropriate registrations with all necessary pension authorities or providers and obtained all applicable Governmental Authorizations in Germany necessary to assume the Germany Pension Liabilities and to facilitate ongoing contributions to pension schemes applicable to the Germany Transferred Employees after the Closing (the "**Pension Setup**")

**6.** **Termination/Exclusive Remedies**. The termination provisions set forth in <u>Section</u><u> </u><u>6</u> of the Master Purchase Agreement shall apply hereto and the Parties may only resort to the remedies as provided for under the Master Purchase Agreement. The Parties expressly waive any other remedies.

**7.** **Requirements for the Transfer of Assets at Closing**. The Seller Affiliate shall transfer and deliver the Germany Purchased Assets to the Purchaser Affiliate on the Closing Date and hereby covenants to the Purchaser Affiliate that it will execute and do (or procure to be executed and done by any other necessary party) all such things as are required pursuant to <u>Section 1.10(d)</u> of the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.1**If and insofar as third party rights under a retention of title exist (Vorbehaltseigentum) with respect to any of the Purchased Movable Assets, Seller Affiliate and Purchaser Affiliate hereby agree on a transfer and assignment of any and all respective expectancy rights (Anwartschaftsrechte) with regard to full title from Seller Affiliate to the Purchaser Affiliate, subject to the condition precedent of the payment of the Germany Purchase Price in accordance with the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.2**Seller Affiliate will grant possession of the Purchased Movable Assets which are in possession of Seller Affiliate at the Closing Date to Purchaser Affiliate without undue delay after Closing has occurred. To the extent that certain Purchased Movable Assets as listed in <u>Schedule 2.1(a)</u> (including the underlying release terms) are in third party possession at the Closing Date, Seller Affiliate hereby assigns to Purchaser Affiliate its repossession claim (*Herausgabeanspruch*) against the respective third party in accordance with §§ 929, 931 German Civil Code (*Bürgerliches Gesetzbuch - BGB*); Purchaser Affiliate hereby accepts such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2Contractual Relationships**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.1** **Specification of Contractual Relationships**. Seller Affiliate sells to Purchaser Affiliate through the assumption of contract with full discharge of the original contractual party and debts as a part of going concern (im Wege der Vertragsübernahme mit befreiender Wirkung) as of the Closing Date all rights and obligations resulting from those contracts and contractual offers of the Germany Business ("**Contractual Relationships**") which either (i) did not exist on the Signing Date but existed on the Closing Date and were thus not included in <u>Schedule</u> [<u>7.2.1</u>](#_bookmark9) or (ii) were in existence on the Signing Date but were inadvertently not included in <u>Schedule</u> [<u>7.2.1,</u>](#_bookmark9) provided in each case of (i) and (ii) above that such Contractual Relationships exclusively or predominantly relate to the Germany Business and were entered into in the ordinary course of business consistent with past practice and without any breach of the Master Purchase Agreement. Such Schedule shall be updated reasonably in advance of the Closing Date. Purchaser Affiliate shall assume liabilities arising from or in connection with any of the Contractual Relationships pursuant to this <u>Section 7.2.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.2No Further Assumption of Contractual Relationships**. Purchaser Affiliate does not assume any contractual relationships other than the Contractual Relationships specified in <u>Section</u><u> </u>[<u>7.2.1</u>](#_bookmark9) of this Agreement.

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**8.** **Employment Matters**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1Transfer of Employment Relationships by Operation of Law**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.1**The Parties assume that the sale and purchase of the Germany Purchased Assets pursuant to this Agreement will constitute, on the Closing Date, a transfer of undertaking (Betriebsübergang) within the meaning of § 613a BGB with regard to the employment relationships of Germany Employees, who will therefore transfer (subject to the Germany Employee's statutory right to object to the transfer) to Purchaser Affiliate on or after the Closing Date with all related rights and obligations by operation of § 613a BGB (such Germany Employees transferring to be the Germany Transferred Employees) (the "**Transfer**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.2**Prior to Closing Date, Seller Affiliate shall ensure that the Germany Employees are allocated to the undertaking (Betrieb) within the meaning of § 613a BGB which is subject to the Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.3**The Parties assume that Seller Affiliate's employment relationships transferring to Purchaser Affiliate according to § 613a BGB are those existing with the Germany Employees listed in <u>Schedule</u> [<u>2.5</u>.](#_bookmark3)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2Information to Germany Employees**. Seller Affiliate and Purchaser Affiliate shall inform each of the Germany Transferred Employees of the Transfer in a joint letter in accordance with § 613a para. 5 BGB. With respect to such joint information Seller Affiliate and Purchaser Affiliate agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.1**Promptly after signing of this Agreement (and no later than [\*\*\*] after the date hereof), Seller Affiliate and Purchaser Affiliate shall agree on the wording of the joint information letter and provide each other with complete and accurate information as required to effect the information of Germany Employees in accordance with applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.2**Seller Affiliate shall deliver the joint information letter to Germany Employees [\*\*\*] and shall use reasonable efforts to cause the Germany Employees not to object to the transfer of their employment to the Purchaser Affiliate. For the avoidance of doubt, it is hereby expressly clarified that Seller Affiliate does not guarantee or warrant that anyone from the Germany Employees will not object to the transfer of his or her employment to the Purchaser Affiliate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.3**Seller Affiliate and Purchaser Affiliate shall notify each other without undue delay in writing about any objections, complaints or enquiries of Germany Employees in connection with the transfer of their employment and make available to each other complete copies of any related correspondence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.4**Promptly following the expiry of the time limit for objections to the Transfer [\*\*\*], Seller's Affiliate shall provide Purchaser Affiliate with a comprehensive list of all Germany Employees having objected to the Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.5**Each of Seller Affiliate and Purchaser Affiliate shall be responsible for such portions to the information letter which are within the sphere or under the control of the respective Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3Transferring Employee Information**. Seller Affiliate shall deliver to Purchaser Affiliate on the Closing Date all names, documents, files, tapes, microfilms, data and other similar materials, in each case whether or not in electronic form, with respect to personnel data of the Germany Transferred Employees (the "**Transferred Employees Information**"), <u>provided</u>, that Seller Affiliate shall be entitled to retain a copy of the Transferred Employees Information that must be maintained by the Seller Affiliate under applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4Excluded Employees**. If, contrary to the expectations of the Parties, one or more employees of Seller Affiliate who are not a Germany Employee (the "**Excluded Employees**") transfer to Purchaser

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Affiliate by virtue of § 613 a BGB, Seller Affiliate is obliged to offer any such Excluded Employees an employment relationship on an individual contractual basis on terms at least equivalent to the Excluded Employees existing terms of employment in effect on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5Works Council Consultation**. The Parties acknowledge that measures under this Agreement will constitute a material change of business (*Betriebsänderung*) within the meaning of § 111 of the German Works Constitution Act (*Betriebsverfassungsgesetz - BetrVG*) and will therefore trigger participation rights of Seller Affiliate's works council under §§ 111 to 113 BetrVG. Seller Affiliate shall use its reasonable endeavors to implement the material change of business and Purchaser Affiliate shall use its reasonable endeavors to support Seller Affiliate in such implementation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6Indemnification**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6.1**Certain indemnification obligations of Seller Parent and Seller Affiliate, as applicable, with respect to matters arising under or relating to this Agreement are set forth on Schedule 7.2(f) of the Master Purchase Agreement, as amended. Notwithstanding anything to the contrary herein, the Laws of Germany shall apply solely to the extent necessary to determine the existence, nature, and amount of any Damages (as defined in the Master Purchase Agreement) owed to Purchaser Parent or Purchaser Affiliate pursuant to Schedule 7.2(f) and shall have no application to any procedural, administrative, or process-related aspects of any indemnification claim brought thereunder. All matters relating to indemnification procedures, processes, and dispute resolution, including without limitation the assertion, defense, settlement, and resolution of indemnification claims, shall be governed exclusively by the Master Purchase Agreement and the Laws of the State of New York, including but not limited to <u>Section</u><u> </u><u>7.5</u> of the Master Purchase Agreement (Exclusivity of Indemnification Remedies), <u>Section</u><u> </u><u>7.6</u> of the Master Purchase Agreement (Indemnification Procedures), <u>Section 7.7</u> of the Master Purchase Agreement (Tax Treatment of Indemnification Payments), and <u>Section</u><u> </u><u>9.7</u> of the Master Purchase Agreement (Governing Law; Dispute Resolution).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6.2**The Parties hereby acknowledge and agree that the indemnification provisions set forth in the Master Purchase Agreement shall contractually cover the execution of the transfer of employment relationships by operation of law under this Local Purchase Agreement. Any indemnification obligation expressly provided under this Local Purchase Agreement shall be understood as a consistent interpretation of the indemnification obligations under the Master Purchase Agreement. Nothing in this Local Purchase Agreement shall be construed to reduce, restrict, or otherwise limit Seller Parent's or Seller Affiliate's indemnification obligations under the Master Purchase Agreement below a level as agreed in the Master Purchase Agreement. Nothing in this Local Purchase Agreement shall be construed to extend or broaden or otherwise create any Seller Parent's or Seller Affiliate's indemnification obligations under the Master Purchase Agreement above a level as agreed in the Master Purchase Agreement. In no event shall Purchaser Parent or Purchaser Affiliate be entitled to recover, or shall Seller Parent or Seller Affiliate be obligated to pay, more than once for any Damages arising out of the same facts, circumstances, events, or occurrences, regardless of whether such recovery is sought under this Agreement or the Master Purchase Agreement.

**9.** **Pensions and Value Time Accounts**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1Pension Matters**. All company pension entitlements of the Germany Transferred Employees shall transfer to Purchaser Affiliate by operation of Law. Purchaser Affiliate will continue such pension entitlements in accordance with applicable Law, including the Act for the Improvement of Company Pensions (*Gesetz zur Verbesserung der betrieblichen Altersversorgung- BetrAVG*) and will assume any commitments and liabilities towards Germany Transferred Employees to provide pension and other retirement benefits ("**Germany Pension Liabilities**") as of the Closing Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2Value Time Accounts**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.1**On or prior to Closing, Seller Affiliate shall provide Purchaser Affiliate with a complete and accurate schedule of all value time accounts (*Zeitwertkonten*) and corresponding value credits (*Wertguthaben*) maintained for the benefit of the Germany Transferred Employees, as of the Closing Date, including (i) the identity of each participating employee, (ii) the current balance of each account, (iii) a summary of the underlying arrangements, (iv) details of the insolvency protection arrangements in place, and (v) confirmation of compliance with Section 7d SGB IV and all applicable tax and social security laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.2**To the extent permitted by applicable Law, in particular Section 7f of the German Social Code IV (Sozialgesetzbuch IV – SGB IV), all value time accounts (Zeitwertkonten) and any corresponding value credits (Wertguthaben) maintained by Seller Affiliate for the benefit of the Germany Transferred Employees shall, as of the Closing Date, be transferred to Purchaser Affiliate together with all associated rights, obligations, commitments and liabilities, and Purchaser Affiliate shall assume and continue such value time accounts in accordance with applicable Law and the underlying arrangements. Seller Affiliate shall use reasonable efforts to cooperate with Purchaser Affiliate and to assist Purchaser Affiliate in all actions reasonably necessary to effect such transfer, including obtaining any required consents from employees, trustees, or third-party administrators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.3**If and to the extent that such transfer is not legally permissible or practically feasible under applicable Law or the relevant contractual arrangements, Seller Affiliate shall, in compliance with Section 7f SGB IV and all applicable tax and social security laws, settle or otherwise legally convert the relevant value credits for the benefit of the affected Germany Transferred Employees prior to or on the Closing Date, or thereafter as soon as practically possible, in which case Purchaser Affiliate shall not assume any obligations in respect of such value time accounts and the economic burden of the relevant value credits shall remain with Seller Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.4**Value credits under value time accounts shall not be taken into account under any other pension or employee benefit adjustment or mechanism under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3** **Transfer of Insurance**. Seller Affiliate shall, as of the Closing Date, transfer and assign to Purchaser Affiliate all existing direct insurance (*Direktversicherungen*) and, if any, indirect pension insurance (*Rückdeckungsversicherungen*) Contracts maintained in respect of Germany Transferred Employees for company pension purposes, together with the Seller Affiliate's policyholder status (*Versicherungsnehmerstellung*). Purchaser Affiliate hereby agrees to accept such transfer. Each Party shall make all declarations and take all actions reasonably required to effect the transfer and assignment of such insurance contracts and the Seller Affiliate's policyholder status to Purchaser Affiliate as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4** **Pension Amount**. The value of all Germany Pension Liabilities and any other pension commitments pertaining to the Germany Transferred Employees (the "**Germany Pension Amount**") shall, [\*\*\*] be calculated by means of an actuarial assessment (*Pensionsgutachten*) to be prepared by a nationally recognized actuarial firm mutually agreed by the Parties, (acting as an expert and not as an arbitrator) applying IFRS (or other generally accepted accounting standards as used by Seller Affiliate in its most recent group consolidation) and consistent with Seller Affiliate's past practice for pension accounting (the "**Actuarial Assessment**"). The calculation made pursuant to this <u>Section</u> [<u>9.4</u>](#_bookmark13) shall not comprise claims of Germany Transferred Employees for which the Seller Parent or Seller Affiliate has transferred to the Purchaser Affiliate existing direct insurance (*Direktversicherungen*) and indirect pension insurance (*Rückdeckungsversicherungen*) contracts, if any, in accordance with <u>Section</u> [<u>9.3</u>](#_bookmark12) of this Agreement. Any underfunding or deficit of the Germany Pension Amount identified in the Actuarial Assessment relating to any period on or prior to the Closing Date shall be considered an Excluded Employee Liability.

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**10.** **Transfer of Benefits; Covenants**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1Transfer of Benefits**. The economic benefits with regard to the Germany Purchased Assets shall be transferred to the Purchaser Affiliate as of the Closing Date notwithstanding any delay in completing the formalities of title transfer under applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2Cooperation Related to Germany Employees**. From the date hereof until and after the Closing, Seller Affiliate shall, and shall cause its Affiliates to, cooperate in good faith with Purchaser Affiliate and its Affiliates to facilitate the transfer of Germany Employees in accordance with applicable Law (§ 613a BGB). Such cooperation by Seller Affiliate and its Affiliates shall include but not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.1**Providing all required employee information and documentation to Purchaser Affiliate in a timely manner (subject to applicable Law, including data protection and employment privacy Laws).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.2**Assisting with mandatory employee notifications and consultations with works councils or employee representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.3**Executing any local transfer agreements or ancillary documents necessary to effectuate the transfer of the Germany Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.4**Maintaining employment terms and conditions of Germany Employees as applicable at the date hereof. Any amendment of the terms and conditions of employment (except adjustments to salaries and incentive compensation in the ordinary and usual course of business), including by collective bargaining agreement or works agreements, requires prior written consent of Purchaser Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.5**Coordinating with Purchaser Affiliate on timing and communications to ensure compliance with statutory notice periods and consultation obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.6**Seller Affiliate shall not take any action that would impede or delay the transfer of employees and shall promptly notify Purchaser Affiliate of any issues or objections raised by employees or authorities in Germany.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3Order to Cash and Order to Delivery**. Purchaser Parent and Purchaser Affiliate shall use commercially reasonable efforts to implement the Order to Cash and Delivery Processes [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4** **Pension Setup**. Purchaser Parent and/or Purchaser Affiliate shall have established accounts or appropriate registrations with all necessary pension authorities, providers and/or administrators, obtained all applicable Governmental Authorizations in Germany necessary to assume the Germany Pension Liabilities and facilitate ongoing contributions to pension schemes applicable to the Germany Transferred Employees after the Closing, and entered into such other arrangements with respect to the Germany Pension Liabilities to be able to transfer the Germany Transferred Employees to Purchaser Affiliate (the "**Pension Setup**").

**11.** **Representations and Warranties**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1Representations and Warranties of the Seller Affiliate**. The Seller Parties hereby represent and warrant to the Purchaser Parties 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Seller Affiliate is duly organized and validly existing under the Laws of the jurisdiction of its incorporation or formation.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**The Seller Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to

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consummate the transactions contemplated hereby. The execution and delivery by the Seller Affiliate of this Agreement, the performance by the Seller Affiliate of its obligations hereunder and the consummation by the Seller Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Seller Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Seller Affiliate are necessary therefor.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)**This Agreement has been duly executed and delivered by the Seller Affiliate and, assuming the due execution hereof by the Purchaser Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Seller Affiliate, enforceable against the Seller Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable Laws affecting the rights of creditors generally.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)**The Schedules to this Agreement provide sufficient specificity to enable transfer in rem under German Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2Representations and Warranties of the Purchaser Parties**. The Purchaser Parties hereby represent and warrant to the Seller Parties 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The Purchaser Affiliate is duly organized and validly existing under the Laws of the jurisdiction of its incorporation or formation.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** The Purchaser Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Purchaser Affiliate of this Agreement, the performance by the Purchaser Affiliate of its obligations hereunder and the consummation by the Purchaser Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Purchaser Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Purchaser Affiliate are necessary therefor.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)**This Agreement has been duly executed and delivered by the Purchaser Affiliate and, assuming the due execution hereof by the Seller Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Purchaser Affiliate, enforceable against the Purchaser Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable Laws affecting the rights of creditors generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3Representation and Warranties Subject to the Master Purchase Agreement**. With respect to representations and warranties of the Seller Affiliate and the Purchaser Affiliate set forth in <u>Sections</u><u> </u><u>11.1</u> and <u>11.2</u> of this Agreement above and the representations and warranties set out in the Master Purchase Agreement, the duration and consequences of a breach thereof, the remedies of the Parties and the limitations of liability, the Master Purchase Agreement shall entirely apply to this Agreement unless otherwise stated in the Master Purchase Agreement. This Agreement shall not change, modify or alter any provision or clause of the Master Purchase Agreement and is not intended to novate, replace or otherwise amend the agreements, understanding, representations, obligations, covenants and/or warranties previously and/or concurrently executed between the Parties or that have been entered into on their behalf.

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**12.** **Taxes**. All taxes and expenses incurred in connection with the Agreement shall be paid in accordance with the allocation in the Master Purchase Agreement.

**13.** **Termination/Exclusive Remedies**. The termination provisions set forth in <u>Section</u><u> </u><u>6</u> of the Master Purchase Agreement (*Termination*) shall apply hereto and the Parties may only resort to the remedies as provided for under the Master Purchase Agreement. The Parties expressly waive any other remedies.

**14.** **Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1Severability**. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2Waiver**. Any of the terms or conditions of this Agreement which may be lawfully waived may be waived in writing at any time by each Party which is entitled to the benefits thereof. Any waiver of any of the provisions of this Agreement by any Party hereto shall be binding only if set forth in an instrument in writing signed on behalf of such Party. Neither the waiver by a Party hereto of a breach of or a default under any one or more of the provisions of this Agreement, nor the failure of a Party, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.3** **Amendment**. This Agreement may not be amended, modified or supplemented except upon the execution and delivery of a written agreement executed by the Parties hereto and specifically referencing this Agreement. This also applies to changes of this <u>Section</u> [<u>14.3</u>](#_bookmark19) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4Interpretation**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.1**The annexes to this Agreement are, for all intents and purposes, an integral part thereof, and, consequently, shall be binding on the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.2**All headings contained in this Agreement are solely for order and organization purposes and shall not entail any interpretation or limitation on the matters regulated by the provisions in which they are used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.3**References to any Law or regulation shall be construed as references to such Law or regulation as the same may be amended, restated or replaced from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.4**The singular shall include the plural and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.5**References to the words "**include**", "**including**", "**in particular**", or any similar term or expression are not to be construed as implying any limitation and general words introduced by the word "**other**"

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(or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.6**The Parties have negotiated, drafted and assessed the rights and obligations of this Agreement jointly and with their advisers, and therefore no contra proferentem criteria shall be applicable in the interpretation of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.5**Assignm**ent**. The Parties shall not assign any of their rights or obligations under this Agreement whether by written agreement or by operation of Law (including by merger or sale of all or substantially all assets), without the prior written consent of the other Party; provided, however, that either Party may assign any and all of its rights or obligations under this Agreement to one or more of its Affiliates without the other Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.6Conflicts**. In the event of a conflict between the provisions of this Agreement and the provisions of the Master Purchase Agreement, the Parties agree that the provisions of the Master Purchase Agreement shall prevail unless otherwise stated in the Master Purchase Agreement; <u>provided</u>, that the Parties hereby acknowledge and agree that <u>Section 9</u> of this Agreement and <u>Section 10</u> of this Agreement were intended to provide a local execution of the agreed steps under the respective sections of the Master Purchase Agreement. For the avoidance of doubt and with reference to <u>Section 11.3</u>, the Parties acknowledge that (i) Representation and Warranties have been agreed by Senseonics Holdings, Inc., Senseonics incorporated and Ascensia Diabetes Care Holdings AG in Section 2 of the Master Purchase Agreement and that (ii) indemnifications and remedies resulting from any breach of the rights and obligations set forth in this Agreement shall be governed by the indemnifications, remedies and other principles in accordance with the terms as set out in the Master Purchase Agreement. Unless stipulated otherwise herein and without prejudice to <u>Section 9.8</u> (*Successors and Assigns; Parties in Interest*) of the Master Purchase Agreement, the provisions of the Master Purchase Agreement shall remain in full effect and fully apply to the transfers governed in this Agreement. The Parties acknowledge that, by agreeing to specific transfer provisions under this Agreement, they specifically override the Master Purchase Agreement (in each case only in respect to secure transfer, assignment, conveyance and delivery of Purchased Assets); in case of provisions in this Agreement cannot be consummated the Parties intend to proceed under the provisions of the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.7Governing Law**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.7.1**This Agreement shall be exclusively subject to and governed by the laws of Germany (without giving effect to principles of conflicts of laws). The United Nations Convention on Contracts for the International Sale of Goods does not apply to this Agreement. The Courts of Cologne shall have exclusive jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.7.2**Where a German term has been inserted in quotation marks and/or italics, it alone (and not the English term to which it relates) shall be authoritative for the purpose of the interpretation of the relevant English term in this Agreement. If the English legal meaning or the English legal concept of any of the terms used differs from the German legal meaning or the German legal concept, the German legal meaning or German legal concept shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.8Disputes.** All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in compliance with rules agreed in <u>Section</u><u> </u><u>9.7</u> of the Master Purchase Agreement (*Governing Law; Dispute Resolution*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.9Counterparts**. This Agreement may be executed in one or more counterparts, including via electronic transmission, each of which shall be deemed an original, but all of which together shall constitute

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one and the same instrument. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

*[Signature Page Follows.]*

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**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

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| |
|:---|
| &nbsp;&nbsp;**SELLER AFFILIATE:** |
| &nbsp;&nbsp;Ascensia Diabetes Care Deutschland GmbH |
| &nbsp;&nbsp;*/s/ Matthew Stewart*  |
| &nbsp;&nbsp;Name: Matthew Stewart |
| &nbsp;&nbsp;Title: Managing Director of Germany / Commercial Leader DACH and Poland |

---

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| |
|:---|
| &nbsp;&nbsp;**SELLER PARENT:** |
| &nbsp;&nbsp;**Ascensia Diabetes Care Holdings AG** |
| &nbsp;&nbsp;*(two signatories required)* |
| &nbsp;&nbsp;By: <u>/s/</u> <u>Koichiro Sato</u>  |
| &nbsp;&nbsp;Name: Koichiro Sato |
| &nbsp;&nbsp;Title: Chief Executive Officer |
| &nbsp;&nbsp;**Ascensia Diabetes Care Holdings AG** |
| &nbsp;&nbsp;*(two signatories required)* |
| &nbsp;&nbsp;By: <u>/s/</u> <u>Marieke Jansen</u>  |
| &nbsp;&nbsp;Name: Marieke Jansen |
| &nbsp;&nbsp;Title: General Counsel |

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*[Signature Page to Local Asset Purchase Agreement (Germany)]*

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**IN WITNESS WHEREOF**, the Parties hereto have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| &nbsp;&nbsp;**PURCHASER AFFILIATE:** | |
| &nbsp;&nbsp;Senseonics Deutschland GmbH |  |
| &nbsp;&nbsp;By: */s/ Timothy T. Goodnow, Ph.D.* <br>Name: Timothy T. Goodnow, Ph.D. | &nbsp;&nbsp;Title: Director |
| &nbsp;&nbsp;By: */s/ Rick Sullivan*  |  |
| &nbsp;&nbsp;Name: Rick Sullivan |  |
| &nbsp;&nbsp;Title: Director |  |
| &nbsp;&nbsp;<br>**PURCHASER PARENT:** |  |
| &nbsp;&nbsp;Senseonics, Incorporated |  |
| &nbsp;&nbsp;By: */s/ Timothy T. Goodnow, Ph.D.*  |  |
| &nbsp;&nbsp;Name: Timothy T. Goodnow, Ph.D. |  |
| &nbsp;&nbsp;Title: President and CEO |  |

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*[Signature Page to Local Asset Purchase Agreement (Germany)]*

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Annex A

**Master Purchase Agreement**

[\*\*\*]

(Annex A was omitted because it was previously filed as Exhibit 2.1 to the Company's Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission on March 2, 2026).

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## Exhibit 2.5

**EXHIBIT 2.5**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN<br>EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY<br>ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS<br>AS PRIVATE AND CONFIDENTIAL.**

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**DEED OF TRANSFER OF BUSINESS**

between:

Senseonics Italy S.r.l. **(hereinafter the "Purchaser Affiliate"**)

and

Ascensia Diabetes Care Italy S.r.l. (**hereinafter the "Seller Affiliate"**)

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Dated as of March 10, 2026

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#### Preamble
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.The Seller Affiliate is an Italian limited liability company active in the development, production, marketing and sale in the medical and healthcare sector, including diagnostic devices and services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.The Purchaser Affiliate is an Italian limited liability company active in the information technology applied to healthcare field.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.**ASCENSIA DIABETES CARE HOLDINGS AG**, a company organized under the laws of Switzerland (hereinafter "**Seller Parent**"), which is the ultimate parent company of the Seller Affiliate, and **SENSEONICS, INCORPORATED,** a Delaware corporation (hereinafter "**Purchaser Parent**"), the ultimate parent company of the Purchaser Affiliate have entered into a Master Asset Purchase Agreement, dated December 31, 2025 (as may be amended from time to time, the "**Master Purchase Agreement**"), pursuant to which, among other things, Seller Parent agreed to sell, or cause one or more of its Affiliates (including Seller Affiliate), to sell to Purchaser Parent or one or more of its Affiliates (including Purchaser Affiliate), certain CGM Activities (as defined in the Master Purchase Agreement) in particular through the sale of certain assets of certain affiliates of Seller Parent. A copy of the executed Master Purchase Agreement is attached hereto as <u>Schedule D</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.Seller Affiliate owns the right, title and interest to the Specified European Assets located in Italy representing its business (going concern) of marketing, selling and distributing the Products in Italy (collectively, the "**Italy Purchased Assets**") and desires to sell them to Purchaser Affiliate, and Purchaser Affiliate wishes to purchase from Seller Affiliate, the Italy Purchased Assets and, in connection therewith, Purchaser Affiliate is willing to assume the Italy Assumed Liabilities (jointly with the Italy Purchased Assets, the "**Italy Business**"), in each case, upon the terms and subject to the conditions set forth in this Agreement and the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.Pursuant to Law Decree 21/2012 converted by Law No. 56 of 11 May 2012, as amended and supplemented from time to time, and its implementing regulation and decrees ("**Golden Power Law**"), following notification of the acquisition of the Italy Business made by the Parties on 18 December 2025, the Presidency of the Italian Council of Ministers (*Presidenza del Consiglio dei Ministri*), by communication dated 30 January 2026 (Proceeding No. 860/2025 - DICAGP-0000766), notified the Parties that the transaction, as notified, does not fall within the scope of the Golden Power Law.

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**NOW, THEREFORE**, in consideration of the foregoing and the respective representations, warranties, covenants, agreements and conditions set forth in this Agreement and the Master Purchase Agreement, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Definitions**. The following terms shall have the following meanings when used in this Agreement.

"**Closing**" shall mean the transfer of the legal ownership of the Italy Business to the Purchaser Affiliate, pursuant to <u>Section 2</u> of this Agreement, and, in general, the execution of the notarial deed of transfer of the Italy Business and exchange of all documents and agreements and the performance and consummation of all the obligations and transactions required to be executed, exchanged, performed or consummated on the Closing Date pursuant to this Agreement.

"**Closing Date**" shall mean the date of execution of the notarial deed of transfer of the Italy Business before the Italian notary selected by the Purchaser Affiliate substantially in the form attached hereto as <u>Schedule C</u>.

"**Products**" shall mean the following Purchaser proprietary products currently marketed under the brand "Eversense": (a) Eversense® CGM System (90-day product); (b) Eversense® XL CGM System (180-day product outside the US); (c) Eversense XL 2.0; and (d) extended Eversense 365-day product (Rome 1 & Rome 2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Sale and Purchase of Assets**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1**Purchased Assets**. At the Closing and with effect as of the Closing Date and subject to the conditions set forth in <u>Section 4</u> of this Agreement and <u>Section 5</u> of the Master Purchase Agreement (*Conditions Precedent to the Closings*), the Seller Affiliate sells, grants, conveys, transfers, assigns and delivers to the Purchaser Affiliate and the Purchaser Affiliate purchases, assumes and acquires from the Seller Affiliate all right, title and interest in and to the Italy Purchased Assets, including such assets, including the Italy Transferred Contracts and the Italy Tender Contracts as defined herein, listed on <u>Schedule A</u>. For the avoidance of doubt, the Italy Purchased Assets shall also include such assets, contracts or rights which are exclusively related to, or used by the Seller Affiliate in connection with, the operation or conduct of the Italy Business and not otherwise included on <u>Schedule A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2**Excluded Assets**. Except for the Italy Purchased Assets and notwithstanding anything in <u>Section 2.1</u> of this Agreement to the contrary, Seller Affiliate is not selling, assigning, transferring, conveying or delivering, and Purchaser Affiliate is not purchasing, acquiring or accepting from Seller Affiliate, any of the Excluded Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3**Assumed Liabilities**. Upon and subject to the terms, conditions, representations and warranties of the Seller Affiliate contained herein and the terms and conditions of the Master Purchase Agreement, including, without limitation, <u>Section 1.4(a)</u> of the Master Purchase Agreement (*Excluded Liabilities*), <u>Section 1.9</u> of the Master Purchase Agreement (*Transfer Taxes*), <u>Section 1.10</u> of the Master Purchase Agreement (*European CGM Activities*), <u>Section 8.5</u> of the Master Purchase Agreement (*Contract Matters*), and <u>Section 8.6</u> of the Master Purchase Agreement (*Misallocated Assets*), Purchaser Affiliate hereby assumes as of the Closing Date: (i) the Liabilities and obligations under the Italy Transferred Contracts or the Italy Tender Contracts, but (1) only to the extent arising out of obligations performed or required to be performed by Purchaser Affiliate under such Italy Transferred Contracts or Italy Tender Contracts after the assignment and transfer of such Italy Transferred Contracts or the Italy Tender Contracts on the Closing (or in the case of

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the assignment and/or transfer after the Closing, the date of such assignment and/or transfer) and not on or before such date, (2) only to the extent such obligations do not arise from or relate to any breach by any member of the Seller Group of any provision of any of such Italy Transferred Contracts or the Italy Tender Contracts, and (3) only to the extent such obligations do not arise from or relate to any event, circumstance or condition occurring or existing on or prior to the Closing Date that, with notice or lapse of time, would constitute or result in a breach of any of such Italy Transferred Contracts or Italy Tender Contracts; (ii) liabilities accruing, arising out of or relating to the conduct or operation of the Italy Business or the ownership or use of the Italy Purchased Assets, solely to the extent such liabilities arise or accrue after the Closing; and (iii) all liabilities and obligations in respect of the Italy Transferred Employees solely on a going-forward basis after the Closing Date (collectively, the "**Italy Assumed Liabilities**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4**Excluded Liabilities**. Upon and subject to the terms, conditions, and limitations of the Master Purchase Agreement, other than, after the Closing Date, the Italy Assumed Liabilities as provided for in <u>Section 2.3</u> of this Agreement, Purchaser Affiliate shall not assume, and shall have no liability for any Liabilities of the Seller Affiliate of any kind, character or description, whether accrued, absolute, contingent or otherwise, it being understood that the Purchaser Affiliate is expressly disclaiming any express or implied assumption of any Liabilities other than after the Closing Date, the Italy Assumed Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5**Italy Transferred Employees**. The Purchaser Affiliate, as a result of the succession of the business provided for in the applicable labor legislation as of the Closing Date, succeeds the Seller Affiliate in the contracts with all the employees allocated to the Italy Business and who are listed in <u>Schedule B</u> (the "**Italy Transferred Employees**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Purchase Price**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1**Italy Purchase Price**. As consideration for the sale, transfer, conveyance, assignment and delivery to the Purchaser Affiliate of the Italy Purchased Assets, the Purchaser Affiliate will pay (or cause to be paid) to the Seller Affiliate (or, in the case of a negative Italy Purchase Price, the Seller Affiliate will pay or cause to be paid to the Purchaser Affiliate) on the Closing Date (by wire transfer of immediately available funds), the net book value of the Italy Business calculated in accordance with <u>Section 1.5</u> of the Master Purchase Agreement (*Purchase Price; Payment of Purchase Price; Adjustment of Purchase Price*) (the "**Italy Purchase Price**"), subject to the terms, conditions and adjustments set forth therein. All Transfer Taxes, if any, shall be paid in accordance with the allocation in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2**Authorization**. Purchaser Parent is authorized by the Purchaser Affiliate, with the express consent of the Seller Affiliate, to conduct payment of the Italy Purchase Price pursuant to this Agreement and Seller Parent is authorized by the Seller Affiliate with the express consent of the Purchaser Affiliate, to receive payment of the Italy Purchase Price pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Closing Conditions**. The obligations of the Parties hereto to effect the Closing and consummate the transactions contemplated hereby shall be subject to the satisfaction or waiver at or prior to the Closing Date of all the applicable conditions set forth in Section 5 of the Master Purchase Agreement (*Conditions Precedent to the Closings*) and each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1**Tender Contracts Consent.** Notwithstanding any different provisions of the Master Purchase Agreement, the Purchaser Affiliate's obligation to purchase the Italy Business and to take the other actions required to be taken by the Purchaser Affiliate at the Closing is subject to the obtainment, from the relevant public contracting authorities of the Italy Tender Contracts, of

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the consent to the transfer of the Italy Tender Contracts (the "**Tender Contracts Consents**"). The Parties undertake to cooperate in good faith to obtain the Tender Contracts Consents and to jointly: (i) contact the public contracting authorities as soon as practicable in order to verify any and all documentation and information required and/or appropriate for the obtainment of the Tender Contracts Consents; (ii) formally notify the transfer of the Italy Business to such public contracting authorities (enclosing all the necessary and/or appropriate documentation and information) and request the Tender Contracts Consents as soon as possible after the signing of this Agreement. It being understood that, in the period between the signing of this Agreement and the obtainment of the Tender Contracts Consents, the Italy Tender Contracts shall be performed and fulfilled by the Seller Affiliate in good faith and in the ordinary course of business consistently with past practice and in compliance with the provisions of the Transition Services Agreement and of the Amended and Restated Existing Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2**Other Contracts Consents**. Each of the Consents to the Contracts identified as Tier 1a or Tier 1b Contracts on <u>Schedule A</u> shall have been obtained as of the Closing Date and evidence of such Consent shall be delivered to the Purchaser Affiliate and shall be in full force and effect or in the event that such Consent is not obtained as of the Closing Date, the third party to such Contract shall have entered into a new Contract with Purchaser Affiliate (or Affiliate thereof) to the reasonable satisfaction of the Purchaser Affiliate on substantially similar terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3**Order to Cash and Delivery**. Purchaser Parent and Purchaser Affiliate shall have established the procedures and systems that are operational and validated to issue invoices through its enterprise resource planning (ERP) system and facilitate the delivery of the Products and related documentation to customers, and shall have established the processes and obtained all applicable Governmental Authorizations in Italy, collectively to conduct order, billing and delivery consistent with applicable regulatory and tender requirements (the "**Order to Cash and Delivery Processes**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Termination/Exclusive Remedies.** The termination provisions set forth in Section 6 of the Master Purchase Agreement (*Termination*) shall apply hereto and the Parties may only resort to the remedies as provided for under the Master Purchase Agreement. The Parties expressly waive any other remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Transfer of Benefits; Covenants**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1**Transfer of Benefits**. Benefits with regard to the Italy Business (including the benefits arising from the participation by the Seller Affiliate to new Tender Contracts with any public contracting authorities for the award of tender contracts prior to the Closing Date) shall be transferred to the Purchaser Affiliate as of the Closing Date notwithstanding any delay in completing the formalities of title transfer under applicable Law, so that effective from that moment, the Purchaser Affiliate will receive the relevant profits and bear the relevant costs and liabilities and/or benefit of the relevant awards by the public contracting authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2Transfer of Tender Participation Requirements.

&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;6.2.1As of the Closing Date and without prejudice to Section 6.2.2, all general and special requirements, owned and declared by the Seller Affiliate in relation to the participation in tenders relating to the Italy Tender Contracts ("**Tender Requirements**") shall, to the extent permitted under applicable Law and/or by the relevant contracting authorities, be transferred to the Purchaser Affiliate . The Seller Affiliate shall provide the Purchaser Affiliate with the documentation reasonably necessary to prove the possession

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and legitimate acquisition of the Tender Requirements, as well as with reasonable cooperation to the Purchaser Affiliate's dealings with contracting authorities with regard to the transfer of the Italy Tender Contracts.

&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;6.2.2The Parties acknowledge and agree that the Seller Affiliate shall not be held liable for any failure or delay in the transfer of the Tender Requirements set out in Section 6.2.1, resulting from:

&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) applicable Law; and/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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any decision, interpretation or requirement of the relevant contracting authority; and/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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any characteristic, act, omission or circumstance relating to the Purchaser Affiliate, including the absence of any eligibility, qualification or other general and special requirements prescribed under applicable Law, it being understood that the Purchaser Affiliate shall use reasonable best efforts to independently obtain such requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3**Italy Transferred Employees**. The Parties acknowledge that: (i) in accordance with the provisions of Italian Law No. 428 of 1990 (as subsequently integrated and amended), the Parties carried out and completed the mandatory consultation procedure with the trade unions regarding the sale and purchase of the Italy Business; (ii) the transfer of the Italy Business in accordance with Section 2 of this Agreement constitutes a transfer of undertaking as regulated in the EU-Directive 2001/23/EC, Section 2112 of the Italian Civil Code and Section 47 of the Law 29 December 1990, No. 428 resulting in a transfer by operation of law of the affected employment relationships of the Italy Transferred Employees as listed under <u>Schedule B</u>, from the Seller Affiliate to the Purchaser Affiliate as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4**Italy Transferred Employees Pensions**. The Seller Affiliate shall transfer to the Purchaser Affiliate all company pension entitlements (including severance indemnity amounts) of the Italy Transferred Employees accrued as of the Closing Date. Purchaser Affiliate will continue such pension entitlements in accordance with applicable Law and will assume any commitments and liabilities towards Italy Transferred Employees to provide pension and other retirement benefits as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5**Tax Certificate**. Prior to the Closing Date, the Seller Affiliate shall obtain and deliver to the Purchaser Affiliate the certificate referred to in Section 14 of the Legislative Decree No. 472/97 in connection with the sale of the Italy Business, showing the absence of pending or closed tax claims in relation to which Tax payables have not been satisfied. Notwithstanding any different provisions of the Master Purchase Agreement, the Seller Affiliate shall be fully liable, and undertakes to indemnify and hold harmless the Purchaser Affiliate on a Euro-per-Euro basis, in relation to any tax liability indicated under such certificate (if any).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6In furtherance of this <u>Section 6</u>, the Parties hereby acknowledge and agree that the indemnification provisions set forth in Section 7 of the Master Purchase Agreement (*Indemnification, etc.*) shall apply, *mutatis mutandis*, to this Agreement as of the Closing Date and shall be the sole and exclusive legal remedy of such Party for any and all claims against the other Parties and their respective Affiliates for Damages under the Master Purchase Agreement or this Agreement; provided, however, that the foregoing sentence shall not be deemed a waiver by any Party of any right or remedy arising by reason of any claim based on any Fraud.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Post-Closing Covenants**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1Section 8.5 (*Contract Matters*), Section 8.6 (*Misallocated Assets*), and Section 8.7 (*Employees and Related Matters*) of the Master Purchase Agreement, to the extent applicable to Italy Transferred Employees or Non-Transferred Employees, shall be applicable *mutatis mutandis* to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2Certain indemnification obligations of Seller Parent and Seller Affiliate, as applicable, with respect to matters arising under or relating to this Agreement are set forth on <u>Schedule 7.2(f)</u> of the Master Purchase Agreement, as amended. Notwithstanding anything to the contrary herein, the laws of Italy shall apply solely to the extent necessary to determine the existence, nature, and amount of any Damages (as defined in the Master Purchase Agreement) owed to Purchaser Parent or Purchaser Affiliate pursuant to <u>Schedule 7.2(f)</u> and shall have no application to any procedural, administrative, or process-related aspects of any indemnification claim brought thereunder. All matters relating to indemnification procedures, processes, and dispute resolution, including without limitation the assertion, defense, settlement, and resolution of indemnification claims, shall be governed exclusively by the Master Purchase Agreement and the Laws of the State of New York, including but not limited to <u>Section 7.5</u> of the Master Purchase Agreement (*Exclusivity of Indemnification Remedies*), <u>Section 7.6</u> of the Master Purchase Agreement (*Indemnification Procedures*), <u>Section 7.7</u> of the Master Purchase Agreement (*Tax Treatment of Indemnification Payments*), and <u>Section 9.7</u> of the Master Purchase Agreement (*Governing Law; Dispute Resolution*). In no event shall Purchaser Parent or Purchaser Affiliate be entitled to recover, or shall Seller Parent or Seller Affiliate be obligated to pay, more than once for any Damages arising out of the same facts, circumstances, events, or occurrences, regardless of whether such recovery is sought under this Agreement or the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Order to Cash and Order to Delivery**<u>.</u> Purchaser Parent and Purchaser Affiliate shall use commercially reasonable efforts to implement the Order to Cash and Delivery Processes on or before [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**Representations and Warranties**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1**Representations and Warranties of the Seller Affiliate**. The Seller Affiliate hereby represents and warrants to the Purchaser Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Seller Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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)The Seller Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Seller Affiliate of this Agreement, the performance by the Seller Affiliate of its obligations hereunder and the consummation by the Seller Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Seller Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Seller Affiliate are necessary therefor.

&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;(c)This Agreement has been duly executed and delivered by the Seller Affiliate and, assuming the due execution hereof by the Purchaser Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Seller Affiliate, enforceable against the Seller Affiliate in accordance with its terms, except to the extent enforceability may be

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limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable laws affecting the rights of creditors generally.

&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;(d)All social security and tax payments or withholdings due in relation with the employment of any Italy Transferred Employees have been correctly and duly made in compliance with applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2**Representations and Warranties of the Purchaser Affiliate**<u>.</u> The Purchaser Affiliate hereby represents and warrants to the Seller Affiliate 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Purchaser Affiliate is duly organized and validly existing under the laws of the jurisdiction of its incorporation or formation.

&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) The Purchaser Affiliate has the requisite corporate or similar power to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Purchaser Affiliate of this Agreement, the performance by the Purchaser Affiliate of its obligations hereunder and the consummation by the Purchaser Affiliate of the transactions contemplated hereby have been duly and validly authorized by all necessary organizational action with respect to the Purchaser Affiliate, each such authorization remains in full force and effect and no other corporate proceedings on the part of the Purchaser Affiliate are necessary therefor.

&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;(c) This Agreement has been duly executed and delivered by the Purchaser Affiliate and, assuming the due execution hereof by the Seller Affiliate, this Agreement constitutes a legal, valid and binding obligation of the Purchaser Affiliate, enforceable against the Purchaser Affiliate in accordance with its terms, except to the extent enforceability may be limited by any applicable bankruptcy, reorganization, insolvency, moratorium or other similar applicable laws affecting the rights of creditors generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3**Representation and Warranties Subject to the Master Purchase Agreement**. With respect to representations and warranties of the Seller Affiliate and the Purchaser Affiliate set forth in <u>Section 9.1</u> and <u>Section 9.2</u> of this Agreement and the representations and warranties set out in the Master Purchase Agreement, the duration and consequences of a breach thereof, the remedies of the parties and the limitations of liability, the Master Purchase Agreement shall entirely apply to this Agreement unless otherwise stated in the Master Purchase Agreement. This Agreement shall not change, modify or alter any provision or clause of the Master Purchase Agreement and is not intended to novate, replace or otherwise amend the agreements, understandings, representations, obligations, covenants and/or warranties previously and/or concurrently executed between the Parties or that have been entered into on their behalf, also pursuant to Section 1381 of the Italian Civil Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Non-Compete**. The Parties expressly agree to derogate from the non-compete obligation set forth in Section 2557 of the Italian Civil Code, which therefore shall not apply to the sale and purchase herein regulated, and other agreements previously and/or concurrently executed between the Parties or that have been entered into on their behalf shall apply.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Taxes**. All taxes and expenses incurred in connection with the Agreement shall be paid in accordance with the allocation in the Master Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1**Severability**. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2**Waiver**. Any of the terms or conditions of this Agreement which may be lawfully waived may be waived in writing at any time by each Party which is entitled to the benefits thereof. Any waiver of any of the provisions of this Agreement by any Party shall be binding only if set forth in an instrument in writing signed on behalf of such Party. Neither the waiver by a Party of a breach of or a default under any one or more of the provisions of this Agreement, nor the failure of a Party, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3**Amendment**. This Agreement may not be amended, modified or supplemented except upon the execution and delivery of a written agreement executed by the Parties hereto and specifically referencing this Agreement. The Parties hereby agree and acknowledge that the execution of the notarial deed of transfer of the Italy Business before the Italian notary selected by the Purchaser Affiliate substantially in the form attached hereto as <u>Schedule C</u> will be carried out only for purposes of perfecting, pursuant to Italian law, the transfer of the Italy Business in favor of the Purchaser Affiliate, without any kind of novation (*novazione*), modification or amendment to this Agreement and the Master Purchase Agreement, which sets forth the entire understanding and agreement between the Parties as to the matters covered herein and which will survive and will not be subject to novation (*novazione*) as a result of the execution of such notarial deed of transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4**Interpretation**.

&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;12.4.1The annexes to this Agreement are, for all intents and purposes, an integral part thereof, and, consequently, shall be binding on the Parties.

&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;12.4.2All headings contained in this Agreement are solely for order and organization purposes and shall not entail any interpretation or limitation on the matters regulated by the provisions in which they are used.

&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;12.4.3References to any law or regulation shall be construed as references to such law or regulation as the same may be amended, restated or replaced from time to time.

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&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;12.4.4The singular shall include the plural and vice versa.

&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;12.4.5References to the words "include", "including", "in particular", or any similar term or expression are not to be construed as implying any limitation and general words introduced by the word "other" (or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things.

&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;12.4.6The Parties have negotiated, drafted and assessed the rights and obligations of this Agreement jointly and with their advisers, and therefore no contra proferentem criteria shall be applicable in the interpretation of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5**Assignment**. The Parties shall not assign any of their rights or obligations under this Agreement whether by written agreement or by operation of Law (including by merger or sale of all or substantially all assets), without the prior written consent of the other Party; provided, that either Party may assign any and all of its rights or obligations under this Agreement to one or more of its Affiliates without the other Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6**Conflicts**. In the event of a conflict between the provisions of this Agreement and the provisions of the Master Purchase Agreement, the Parties agree that the provisions of the Master Purchase Agreement shall prevail unless otherwise stated in the Master Purchase Agreement. Notwithstanding the foregoing, in the event of any conflict with the Master Purchase Agreement, this Agreement shall prevail with respect to <u>Section 2.3</u> (Assumed Liabilities), <u>Section 2.4</u> (Excluded Liabilities), <u>Section 2.5</u> (Italy Transferred Employees), and <u>Section 4</u> (Closing Conditions).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7**Governing Law**. This Agreement shall be governed by and construed in accordance with the laws of Italy and the Courts of Milan shall have exclusive jurisdiction.

\*\*\*\*\*

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<u>Schedule A</u>

**Italy Purchased Assets**

[\*\*\*]

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<u>Schedule B</u>

**Italy Transferred Employees**

[\*\*\*]

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<u>Schedule C</u>

**Notarial Deed of Transfer**

[\*\*\*]

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**Schedule D**

<u>Master Asset Purchase Agreement</u>

[\*\*\*]

(Schedule D was omitted because it was previously filed as Exhibit 2.1 to the Company's Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission on March 2, 2026).

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\*\*\*\*\*

Should the above reflect the content of understandings reached and intentions shared, if you agree on the above terms and conditions, please notify us of Your acceptance by returning us a copy of this Proposal initialised on each page and undersigned for acceptance.

Kind regards,

**Senseonics Italy S.r.l.**

Acting by their authorised signatories:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>/s/ Timothy T. Goodnow</u> <br>Name: Timothy T. Goodnow<br>Title: Director | &nbsp;&nbsp; <u>/s/ Frederick Thomas Sullivan</u> <br>Name: Frederick Thomas Sullivan <br>Title: Director |

---

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\*\*\*\*\*

I hereby fully and unconditionally confirm our acceptance to your Proposal, according to the terms and conditions above.

Kind regards,

**Ascensia Diabetes Care Italy S.r.l.**

Acting by its authorised signatory:

<u>/s/ Aldo Saetta</u> 

Name: Aldo Saetta

Title: Manager of Finance and Controlling

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## Exhibit 10.2

**EXHIBIT 10.2**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.**

#### Execution Version

#### TRANSITION SERVICES AGREEMENT
This TRANSITION SERVICES AGREEMENT (this "**Agreement**") is made and entered into as of March 12, 2026, (the "**Effective Date**") by and among Senseonics, Incorporated ("**Buyer**"), Ascensia Diabetes Care Holdings AG and the European Ascensia Affiliates (collectively, "**Ascensia**") (each a, "**Party**" and together, the "**Parties**"). Capitalized terms used but not defined in this Agreement shall have the meaning given to them in the Purchase Agreement (as defined below).

#### RECITALS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.Buyer and Ascensia have entered into that certain Master Asset Purchase Agreement, dated as of December 31, 2025 (as amended and supplemented, the "**Purchase Agreement**") to consummate the sale of the Specified Initial Assets and U.S. CGM Activities to Buyer and are concurrently herewith negotiating and finalizing the respective Local Purchase Agreements to consummate the sale of the Specified European Assets and European CGM Activities in the European Selected Territories to the applicable Purchaser Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.Concurrently with initiation of the Transition Services under this Agreement, the Parties to the Purchase Agreement are consummating an agreement for the sale of the Specified European Assets and European CGM Activities in the European Selected Territories to the applicable Purchaser Affiliate as contemplated by the applicable Local Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.In connection with the transactions contemplated by the Purchase Agreement and Ascensia's obligations under the Purchase Agreement, Ascensia desires to provide Buyer with, and Buyer desires to receive, certain services in the Selected Territories in Europe to provide for the continuity of the business in the Selected Territories through the sales process as contemplated by the Purchase Agreement, including the continuation of commercial operations in a manner consistent with Performance Standards, including with respect to performance under Tender Contracts, IT and systems migration, Business employee support, finance and operations support, regulatory compliance, and other agreed services, in each case, throughout the respective periods set forth below, subject to the terms and conditions set forth in this Agreement and the applicable Schedules attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.In connection with the transactions contemplated by the Purchase Agreement, Ascensia desires to provide Buyer with, and Buyer desires to receive, certain transition services after the Closings in the Selected Territories in Europe to ensure an orderly and uninterrupted transition of the Business from Ascensia to Buyer, including the continuation of commercial operations in a manner consistent with Performance Standards, including with respect to performance under Tender Contracts, IT and systems migration, CGM employee support, finance and operations support, regulatory compliance, and other agreed services, in each case, throughout the respective periods set forth below, subject to the terms and conditions set forth in this Agreement and the applicable Schedules attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.It is the goal of the Parties that the covenants, terms and conditions of the Purchase Agreement and this Agreement will support the preservation of the value of the Business, the preparation

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of the Business for transition to Buyer, and an orderly and uninterrupted transition of the Business from Ascensia to Buyer; provided, however, that nothing in these Recitals shall be deemed to expand or modify the Performance Standard or the scope of the Transition Services beyond those expressly set forth in this Agreement and the Schedules (together with any Ancillary Services).

NOW, THEREFORE, in consideration of the covenants, promises and representations set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Article I<br>DEFINITIONS

All capitalized terms used but not specifically defined in this Agreement have the meanings assigned to them in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 "**Affiliates**" shall have the meaning set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 "**Ancillary Services**" means activities inherently necessary to perform a Service expressly described in Schedules A – D attached hereto that do not otherwise materially increase scope, complexity, or cost and that are materially consistent with how such Services are currently being performed by Ascensia as of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 "**Business**" means Ascensia's Eversense CGM business in the Selected Territories.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 "**Buyer Approver Overage**" means CGM Direct Operating Costs in excess of the applicable line item in the Operating Budget but not exceeding [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 "**CGM Direct Operating Costs**" means direct operating costs and expenses that are reasonably necessary to be incurred and are actually incurred in connection with the performance of the Transition Services or operation of the Business in the European Selected Territories, including, without limitation, third party vendor charges, logistics, tender fees, and travel (in accordance with Ascensia's policies), but excluding personnel costs and any costs that are duplicative of items already captured within TSA Fees or otherwise not reasonably necessary for the performance of the Transition Services or operation of the Business in the European Selected Territories.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 "**Closing(s)**" shall have the meaning as set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 "**Collaboration Agreement**" means that certain Amended and Restated Collaboration Agreement, dated as of the Effective Date, between the Parties, as it may be amended and/or further restated from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 "**Establishment Activities**" means activities necessary for Buyer to establish operational control over, and conduct, the Business in Selected Territories, including entity formation, Tender Contract transfers, order to cash process establishment, CRM and IT transition, regulatory compliance, back-office set-up, and employee processes and onboarding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 "**European Ascensia Affiliates**" means Ascensia Diabetes Care Deutschland GmbH, Ascensia Diabetes Care Italy Srl., Ascensia Diabetes Care Spain SL., and Ascensia Diabetes Care Sweden AB.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 "**European Selected Territories**" means Selected Territories other than the U.S.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 "**Excluded Territories**" means Poland, Switzerland and all other geographies that are not Selected Territories.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 "**Force Majeure Event**" means any event or circumstance beyond the reasonable control of the affected Party that prevents or delays performance of its obligations, despite the affected Party's reasonable efforts to avoid or mitigate such event or circumstance. Force Majeure Events include, without limitation, acts of God; natural disasters; epidemics, pandemics, or public health emergencies; war, terrorism, civil unrest, or sabotage; governmental actions, orders, or changes in law; failures, interruptions, or shortages of utilities, telecommunications, or transportation; failures or delays of third-party service providers or vendors; widespread network or platform outages; technical disruptions, cyber incidents, or malware not caused by the affected Party's breach of its obligations under this Agreement. For the avoidance of doubt, a Force Majeure Event shall excuse the affected Party's performance and any associated service levels or timelines only to the extent and for the duration such performance is prevented or delayed by the Force Majeure Event, and the Buyer shall have no obligation to pay for Services not performed due to a Force Majeure Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 "**Intellectual Property**" shall have the meaning set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14 "**Laws**" means all applicable laws, rules, and regulations in the jurisdictions where the Services are performed; for cross-border data, the Parties will follow the DPA and agreed transfer mechanics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 "**OTD**" means Order-to-Delivery services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 "**OTC**" means Order-to-Cash services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17 "**Operating Budget**" means the budget for CGM Direct Operating Costs attached as Exhibit 1.17, including any line-item overages within the Buyer Approver Overage or other exceptions pre-approved in writing by Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18 "**Performance Standard**" [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19 "**Selected Territories**" means the United States, Germany, Italy, Spain and Sweden.

Article II<br>SERVICES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1<u>Transition Services</u>. On the terms and subject to the conditions set forth in this Agreement, and in supporting the transfer, transition (in accordance with the Performance Standard), and subsequent operation, of the Business to and by Buyer pursuant to the terms and conditions set forth in the Purchase Agreement, commencing on the date of the Closing of the Purchase Agreement transactions in the U.S., <br>

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Ascensia shall provide, independently or through other parties currently providing services to Ascensia, to Buyer all services reasonably necessary to operate the Business in accordance with the Performance Standard, as further described in Schedules A-D described below and attached hereto (collectively, the "**Transition Services**"). Ascensia shall provide those Transition Services expressly identified on the Schedules (together with any Ancillary Services) to support the operation of the Business in the European Selected Territories during the Term as contemplated by this Agreement in accordance with the Performance Standard. If the Parties mutually agree in writing to add a service inadvertently omitted from the Schedules that is reasonably encompassed within, or necessary to perform, the Transition Services and that is materially consistent with such service as performed as of the Effective Date in connection with the operation of the Business in the European Selected Territories (subject to Ascensia's resource availability, applicable security, compliance, and policy requirements, and without additional fees, pass-through charges, or incremental costs to Buyer), Ascensia will provide such service as a Transition Service. Any service that constitutes a net-new service not reasonably contemplated by the Schedules shall be subject to mutual agreement of the Parties as to scope and applicable fees, if any. Transition Services shall include: (i) shared services set forth in Schedule A ("**Shared Services**"); (ii) employee support services set forth in Schedule B ("**Employee Services**"); (iii) the coverage and support of Ascensia's BGM sales force as set forth in Schedule C ("**BGM Services**"); and (iv) tender maintenance and management services as further described in Schedule D ("**Tender Management Services**"). All Schedules shall be deemed incorporated into this Agreement. Notwithstanding the foregoing, the Parties agree that the Transition Services offered under this Agreement, for the amounts set forth in the schedules and subject to the Fee Cap, shall include provision of the following services in accordance with the Performance Standard: (i) order to cash services (including for 365 product if approved), and (ii) human resource services related to the Employee Services (in each case, with respect to the foregoing clauses (i)-(ii), to the extent offered by Ascensia in connection with the operation of the Business in the European Selected Territories as of the Effective Date. For the avoidance of doubt, the fees for OTC and OTD service line items are fully capped as set forth in the line items of the applicable Schedule, and shall not be subject to increase or adjustment except to the extent Buyer expressly requests in writing a change in the scope or delivery method of such services beyond those contemplated by the Schedules and the transition planned to effect the Purchase Agreement pursuant to Section 2.2. The inclusion of the 365 product or new tenders in such OTC and OTD services shall not constitute a change in scope, provided that Buyer does not request process changes causing a material increase in the cost of such service and that are not inherent in or reasonably required to compliantly perform the services for such inclusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2<u>Change Order Process</u>. Either Party may request to amend, modify, or add to the Transition Services or otherwise change the scope or timing of any Transition Service (each, a "**Change Order**"). The Parties shall discuss any proposed Change Order in good faith, and any Change Order mutually agreed in writing (including email) shall be deemed incorporated into this Agreement, provided, that subject to Section 2.1 and the terms of this Agreement, any additional service (i.e., a service that is not expressly listed in the Schedules and not encompassed within such services, required for the delivery of the services listed in the Schedules, or covered by Section 2.1), or any material addition, acceleration, expansion in volume, new geography, or new deliverable, shall be subject to mutually executed change order(s) setting forth scope, timing, and fees. Any additional or modified Transition Services requested by Buyer shall be priced consistently with the method of determining the fees, rates, and cost structure set forth in the Schedules, and Ascensia shall not increase fees or costs for existing Transition Services except as set forth in an applicable Schedule. No additional or modified Transition Services shall be charged by Ascensia without Buyer's prior written approval. Changes apply prospectively only and do not retroactively reduce or abate fees for periods prior to the applicable effective date. Pre-scheduled activities, committed third-party spend, and in-flight projects identified by Ascensia and, in each case, are contractually non-cancellable, will continue through completion or may be canceled only with Buyer's agreement to reimburse all reasonable, non-cancelable costs and expenses pre-approved by Buyer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3<u>Ongoing Transition and Cooperation</u>. From the Closing until the expiration or termination of each of the Transition Services, the Parties shall collaborate in good faith to ensure that the Business in the European Selected Territories is operated in accordance with the Performance Standard (subject to the scope of Transition Services to be provided hereunder). For the existing tenders set forth on Schedule 2.3 attached hereto, Ascensia shall, subject to applicable Law and the terms, conditions and other limitations set forth in such existing tenders set forth on Schedule 2.3, in accordance with the Performance Standard, make Tender Management Services required to effectively service such tenders available until the earliest to occur of the following: (a) such Tender Contract is transferred to Buyer, (b) such Tender Contract expires in accordance with its terms, or (c) the termination or expiration of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4<u>Ancillary Services</u>. Ascensia shall provide only those Services expressly described in the Schedules, together with Ancillary Services, which shall constitute all services necessary to conduct the business in accordance with the Performance Standard. Other than as it relates to OTC and OTD services and to the extent Buyer is not requesting changes to Ascensia's current OTC and OTD processes which are not inherent in or reasonably required to compliantly perform such OTC and OTD processes for their purpose, where such changes are provided, any material additions, accelerations, expansions in volume, new geographies, or new deliverables not related to effecting the transition contemplated by the Purchase Agreement require a mutually executed change order. Ascensia shall use commercially reasonable efforts to evaluate, accept and accommodate requests but shall have no obligation to accept any change absent a signed change order on agreed commercial terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5<u>IP Maintenance Pending Transfer</u>. In the event there is any delay between the acquisition of assets by Buyer and the completion of the transfer or assignment of any intellectual property rights from Ascensia to Buyer that is required under the terms of the Purchase Agreement, Ascensia shall, during such interim period, continue to maintain, protect, and preserve such intellectual property rights in accordance with the Performance Standard, including the payment of maintenance fees, filing of renewals, and taking reasonable actions to prevent any loss, abandonment, or impairment of such rights. All reasonable costs and expenses of any kind incurred by Ascensia in connection with such maintenance shall be promptly reimbursed by Buyer. Parties shall cooperate in good faith to facilitate and complete the transfer of such intellectual property rights as promptly as practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6<u>Consents</u>. Ascensia will use commercially reasonable efforts obtain, maintain and remain in compliance, consistent with the Performance Standard, with those consents, licenses, sublicenses, permits, permissions or approvals that are required in connection with Ascensia's performance of the Transition Services. Any consents, licenses, sublicenses, permits, permissions or approvals (i) required solely for Buyer's post-Closing operations or compliance or (ii) not fundamental to the provision of the Transition Services (including, for example, consents relating to Buyer's marketing, customer communications, or data use) and that Ascensia would not need to obtain or maintain but for the provision of Transition Services ("**Buyer Consents**") will be obtained and maintained at Buyer's sole cost and expense, subject to prompt reimbursement by Buyer upon written request. Ascensia will in accordance with the Performance Standard, at Buyer's cost where applicable, assist with obtaining Buyer Consents. Ascensia is not liable for failure, delay or conditions in obtaining or maintaining any Buyer Consent where it obtains or maintains such Buyer Consent in accordance with the Performance Standard, and no such failure constitutes a breach by Ascensia or obligates Ascensia to provide alternatives. Where permitted, Buyer will be the applicant/contracting party; if a Buyer Consent must be held by Ascensia, Buyer will bear and promptly reimburse Ascensia for all related fees, costs and third-party charges. To the extent any such items (a) are newly required following the Closing(s) to provide the Transition Services or (b) cause Ascensia to incur incremental fees to enable Buyer to receive the Transition Services, Buyer shall be responsible for such incremental costs. For the avoidance of doubt, Ascensia shall not be liable for any failure to obtain such consents, licenses, sublicenses, permits, permissions or approvals to the extent Ascensia performed in accordance with Performance Standard to obtain them.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7<u>Access to IT Infrastructure</u>. Ascensia shall provide Buyer and its employees, representatives or independent contractors with reasonable access to Ascensia's IT systems, applications, network, software, equipment, computer, files or data necessary (collectively, "**Ascensia IT Infrastructure**") to receive the Transition Services and to conduct the Business until [\*\*\*], and [\*\*\*], exercisable upon written notice to Ascensia provided no later than [\*\*\*], to extend such access through [\*\*\*] on the same terms and at the same cost. Such access shall be granted in a timely manner, and Buyer shall conform, and cause its applicable employees and independent contractors to conform, to all policies and procedures of Ascensia concerning Ascensia IT Infrastructure that were applicable in the Business prior to the Effective Date or that Ascensia otherwise makes known to Buyer. Ascensia may suspend access to the Ascensia IT Infrastructure on notice where necessary to address a bona fide security or legal concern and will work diligently to restore access after remediation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8<u>Delays; Cost Recovery</u>. If, in the course of providing any Transition Services, any delay, rework, or material increase in the cost of performing the Transition Services occurs as a result of a Party's acts or omissions (including any failure to provide necessary information, approvals, or access) in breach of the terms of this Agreement or otherwise in a manner that obstructs the other Party from performing its obligations or exercising its rights under this Agreement, the Parties shall negotiate in good faith an equitable adjustment to the applicable timelines, service levels, and fees for the affected Services to the extent necessary to reflect such delay, rework, or increased cost. Notwithstanding the foregoing, (i) if any such delay, rework, or material increase in cost is caused by Ascensia, Buyer shall promptly notify Ascensia in writing, and Ascensia shall have a period of [\*\*\*] after Buyer's written notice to remedy the delay or deficiency, and (ii) if any such delay, rework, or increased cost is caused by Buyer and does not exceed the Breach Threshold, Ascensia shall promptly notify Buyer in writing, and Buyer shall have a period of [\*\*\*] after Ascensia's written notice to remedy the delay or deficiency. If either Party fails to remedy within [\*\*\*], the Parties shall discuss in good faith, for a period of no longer than [\*\*\*], an equitable adjustment to the applicable timelines, service levels, and fees. If, after such [\*\*\*], the Parties are unable to agree on such equitable adjustment, and Buyer is the cause of such delay, rework, or material increase in cost, Ascensia may suspend the affected Transition Service(s) upon written notice thereof to Buyer, without liability, and Buyer shall use commercially reasonable efforts to remedy the delay or rework and pay for such Transition Services provided through the effective time of such suspension or termination and all reasonable, non-cancelable costs related thereto. If, after such [\*\*\*], the Parties are unable to agree on such equitable adjustment, and Ascensia is the cause of such delay, Ascensia shall, to the extent possible using commercially reasonable efforts, complete the affected Transition Services at no additional cost to Buyer, and the applicable timeline and service levels shall be automatically extended to the extent reasonably necessary to account for any such delay or rework. If Buyer breaches the Collaboration Agreement in a manner that impairs, causes rework of, increases the cost by more than [\*\*\*] ("**Breach Threshold**") of, or materially delays Ascensia's provision of any Transition Services under this Agreement, Ascensia shall promptly notify Buyer in writing, and Buyer shall have a period of [\*\*\*] after Ascensia's written notice to either (A) remedy the breach, delay, or deficiency within [\*\*\*], or (B) agree in writing to reimburse Ascensia for the reasonable, non-cancelable costs necessary to continue the affected Transition Service. If Buyer fails to do either within [\*\*\*], Ascensia may then suspend or terminate the specific affected Service upon further written notice to Buyer, and notwithstanding anything to the contrary in this Agreement, [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9<u>Development of the Business</u>. For the avoidance of doubt, for purposes of this Agreement, the Transition Services shall be provided in accordance with the Performance Standard. Notwithstanding anything to the contrary in this Agreement, Ascensia is providing the Tender Management Services to provide continuity of the Business through no later than [\*\*\*], including, but not limited to,<br>

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pursuing new tender awards and an update of approvals or tenders for Eversense 365, pursuant to and in accordance with the applicable provisions of Schedule D (other than with respect to (i) declined regulatory services for Eversense 365, or (ii) sales force services with respect to Eversense 365).

Article III<br>FEES AND EXPENSES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Fees</u>. In consideration of the Transition Services, Buyer shall pay the fees set forth in the Schedules (the "**TSA Fees**") solely for Transition Services provided by Ascensia. The fees in this Agreement shall be calculated with an effective date from [\*\*\*]; provided, however that all fees in this Agreement related to Ascensia's obligations in respect of New Tenders (as defined on Schedule D) shall be calculated with an effective date from [\*\*\*]. [\*\*\*]. If the scope [\*\*\*], duration, or timing of the Transition Services is modified at Buyer's request or with Buyer's consent, including as a result of any extension or addition of Transition Services, the Parties shall in good faith agree to make an appropriate pro rata adjustment to the Fee Cap to reflect such extension or additional services. [\*\*\*]. For the period from [\*\*\*] of the transfer of the Business in each European Selected Territory, CGM Direct Operating Costs for such Selected Territory shall be billed together with the TSA Fee and [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Service Reduction, Elimination and Proration. Buyer may, at any time, elect to reduce or discontinue any Transition Service, in whole or in part, upon written notice to Ascensia. If the discontinued Transition Service is reasonably necessary for the continued performance of another Transition Service, Ascensia shall promptly notify Buyer in writing and identify the impacted services to the extent reasonably foreseeable. If Buyer elects to proceed with discontinuation after such notice, Ascensia shall have no liability for any resulting impact on the dependent services. Fees for any reduced or discontinued Transition Service shall be adjusted prospectively on a prorated basis, effective on [\*\*\*] following not less than [\*\*\*] prior written notice during the Term, using the applicable fixed fee in the Schedule. Proration does not apply to pre-scheduled activities, committed third-party spend, or in-flight projects, which, in each case, are contractually non-cancellable, unless Buyer agrees to reimburse associated pre-approved, reasonable non-cancelable third-party costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)CGM Direct Operating Costs. In conjunction with Ascensia's covenant to operate the business in accordance with the Performance Standard, in addition to the TSA Fees, subject to the budget covenant and related provisions below, [\*\*\*] to perform the Services and to operate the Business in the European Selected Territories prior to the applicable Closings, [\*\*\*]. The Business in the European Selected Territories shall be conducted in accordance with the Performance Standard. [\*\*\*]. Ascensia (i) shall provide monthly updates, consistent with its normal reporting timing, on actuals against budget, and (ii) [\*\*\*].

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[\*\*\*] Services rendered prior to the Effective Date in anticipation of this Agreement shall be included on the next monthly invoice. Buyer shall have the right to review supporting documentation for all CGM Direct Operating Costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>Taxes</u>. All amounts payable under this Agreement will exclude all applicable sales, use and other taxes and all applicable export and import fees, customs duties and similar charges. Buyer will be responsible for payment of all such taxes (other than taxes on the income of Ascensia resulting from its provision of the Transition Services), fees, duties and charges, and any related penalties and interest, arising from the payment of any fees hereunder or the delivery of Transition Services.

Article IV<br>INTELLECTUAL PROPERTY

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2<u>License to Perform</u>. During the Term, Buyer grants to Ascensia a worldwide, nonexclusive, royalty-free, fully paid up, nontransferable, non-sublicensable (except to independent contractors or Affiliates performing hereunder on Ascensia's behalf) license of its Intellectual Property solely as reasonably necessary to perform the Transition Services.

Article V<br>COVENANTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1<u>Compliance with Laws</u>. Ascensia, at its own expense, will comply, in all material respects, with the provisions of all applicable municipal requirements and those state and federal laws that may be applicable to the performance of this Agreement, including the performance of the Transition Services hereunder. Notwithstanding anything to the contrary in this Agreement or in the Schedule(s) attached <br>

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hereto, nothing in this Agreement or the Schedules hereto shall require any Party to take any action not in compliance with all applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2<u>Performance</u>. Except as otherwise expressly provided herein, Ascensia shall perform the Transition Services in accordance with the Performance Standard, subject to applicable Law. Where Buyer provides written directives specifying a lower or modified standard, Ascensia shall implement such directives to the extent legally permissible and feasible; provided, however, that Ascensia shall have no liability for any resulting degradation in service levels to the extent attributable to such directives; provided, further, that the allocation of liability for all Buyer-directed actions is governed by Section 8.2. Notwithstanding the foregoing, any pricing decisions for the Products under this Agreement shall be subject to the Parties' existing agreements and in compliance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3<u>Personnel</u>. Ascensia agrees that the Transition Services to be performed by it or on its behalf will be performed by individuals in a manner providing quality at standards consistent with the provisions of Section 5.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4<u>Books and Records</u>. All financial records regarding Transition Services shall be maintained in accordance with Ascensia's current accounting policies, consistently applied. Ascensia shall provide Buyer with status and financial reporting at a commercially reasonable cadence aligned with Ascensia's standard close process, limited to information reasonably available without bespoke system changes. Month-end reporting shall be provided within [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5<u>Data</u>. Each Party shall process Personal Data in accordance with applicable Law and the Data Processing Agreements executed between the Parties. Ascensia shall provide Buyer with copies or extracts of data reasonably necessary for Buyer's operation of the CGM business, subject to (i) lawfulness, (ii) confidentiality and third party rights, and (iii) technical feasibility. Ascensia shall use commercially reasonable efforts consistent with Performance Standard to obtain necessary third-party rights and consents; however, Ascensia shall have no obligation hereunder or otherwise be liable where such consents cannot be obtained despite such efforts. Where Ascensia must retain certain data to comply with Law or this Agreement, Ascensia will treat such data as Confidential Information and will securely delete it when retention is no longer required. Notwithstanding anything to the contrary, nothing in this Agreement requires Ascensia to disclose, provide access to, transfer, or otherwise make available any data, information, databases, models, algorithms, know-how, or other materials that are proprietary to Ascensia, relate to Ascensia's businesses other than the CGM business, are not reasonably necessary for Buyer's receipt or use of the Transition Services, or disclosure of which would violate applicable Law, contractual obligations to third parties, or data privacy/security policies. For the avoidance of doubt, Ascensia may provide extracts or anonymized/aggregated versions of data to the extent necessary to deliver the Transition Services while preserving the foregoing. Buyer acknowledges and agrees that Ascensia retains all right, title, and interest in and to any such excluded data and materials.

Article VI<br>TERM AND TERMINATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1<u>Term</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Ascensia shall provide the Transition Services through the dates set forth in the applicable Schedules (the "**Initial Term**"). For clarity, (i) Shared Services in <u>Schedule A</u> end on [\*\*\*] (except as may be extended, hereunder and except in respect of any administrative support, or human resources services which shall terminate immediately upon each applicable Closing in the Selected Territories); and (ii) Employee Services in <u>Schedule B</u> and any BGM-related services in <u>Schedule C</u> end on [\*\*\*], in each case unless earlier terminated in accordance with this Agreement or unless <br>

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extended as contemplated by the applicable schedule or the terms of this Agreement; and (iii) Tender Management Service in <u>Schedule D</u> shall continue until [\*\*\*]. Any extension of any Transition Service beyond the applicable end date (except any extension by notice from Buyer where permitted under this Agreement in accordance with Schedule A) shall be subject to the mutual written agreement of the Parties in accordance with the terms of this Agreement, with Buyer providing not less than [\*\*\*] written notice prior to the end of the applicable Term and shall include alignment on scope, service levels, and fees. In the case of Shared Services on Schedule A, such services may be extended by Buyer providing notice of extension no later than [\*\*\*] at the same cost and rates until [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Extension by Buyer</u>. To the extent a Schedule expressly provides that a Transition Service may be extended for a specified period at the same terms and cost, upon written notice to Ascensia of not less than [\*\*\*] prior to the end of the applicable Term, or in the case of Shared Services on Schedule A no later than [\*\*\*], notifying Ascensia of Buyer's request to extend and the term of such extension, such Transition Service shall continue for the extension period as mutually agreed between the Parties (except where agreement is not required in accordance with Section 6.1(c) or Schedule A). For all other Transition Services, Buyer may, in its sole discretion and for any reason, elect to extend the term beyond the Initial Term set forth in the applicable Schedule (each such extension, an "**Optional Extension Term**" and together with Initial Term, "**Term**") by providing written notice to Ascensia prior to the expiration of the then-current term. Ascensia shall continue to perform the applicable Transition Services during any Optional Extension Term in accordance with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Automatic Extension</u>. Unless otherwise set forth in a Schedule, the term of any Transition Service shall automatically extend, without further action by Buyer, for as long as Ascensia has not completed the applicable Transition Service or has otherwise failed to meet its obligations under this Agreement (including where completion or timely performance is delayed, in whole or in part by, (i) act, omission, fault, negligence or delay of Ascensia, or (ii) any Force Majeure Event affecting Ascensia); provided, that any such failure does not relate to or arise out of any action or inaction of Buyer or its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2<u>Termination of Transition Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Buyer may terminate any individual Transition Service (or all Transition Services), or reduce the scope thereof, for convenience upon not less than [\*\*\*] prior written notice, effective on [\*\*\*] at least [\*\*\*] after such notice; provided, however, that any such termination or reduction that would reasonably be expected to (a) adversely affect, impair, render it more difficult or impossible to provide, or delay, in each case materially, Ascensia's ability to perform any other Transition Service (including without limitation, interdependent Transition Services identified in the Schedules), (b) result in stranded, committed, non-cancelable third-party costs or expenses incurred by Ascensia in connection with the Transition Services, in which case Buyer shall be responsible for and shall reimburse Ascensia for such third-party costs or expenses, or (c) would reasonably be expected to cause Ascensia to breach applicable Law or third party contractual requirements, shall be effective only with Ascensia's prior written consent. Termination for convenience shall not apply to pre-scheduled activities, committed third-party spend, or in-flight projects identified by Ascensia and which, in each case, are contractually non-cancellable, unless Buyer agrees to reimburse reasonable, non-cancelable costs and expenses. Once a Transition Service has been terminated Buyer, Parties agree that Buyer has no right to have such terminated Transition Service reinstated or added back to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)This Agreement may be terminated by the mutual written consent of Ascensia and Buyer.

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&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Either Party may terminate this Agreement with immediate effect by notice in writing to the other Party, if the other Party is in material breach of any of its obligations under this Agreement and (if the breach is capable of remedy) has failed to remedy the breach within [\*\*\*] of receipt of notice in writing. Termination for cause shall be without prejudice to accrued rights and obligations, including payment of Fees and CGM Direct Operating Costs incurred through the effective date of termination; provided, further than in no event shall any Term extend beyond [\*\*\*] in respect of Schedule B and Schedule C, except for Schedule D and supporting terms which shall extend to the later of the date the last Tender Contract expires or is transferred to Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Notwithstanding termination of this Agreement and Section 6.3, obligations under Schedule D (and any necessary provisions of this Agreement required to fulfill such obligations under Schedule D) that are permissible by applicable Law survive solely for such tenders where Ascensia is the contracting counterparty and only to the extent necessary to comply with tender obligations; promotional or demand-generation activities are excluded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3<u>Effect of Termination</u>. Upon termination of this Agreement for any reason, all rights and obligations of the Parties under this Agreement will cease and be of no further force or effect, except that Sections 3.1, 4.1, 5.4 through 5.5, 6.2(d), 6.3, 7, Article VIII and Article IX and any accrued but unpaid payment obligations survive.

Article VII<br>CONFIDENTIALITY

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1<u>Ownership of Confidential Information</u>. Each Party acknowledge that during the performance of this Agreement, each (a "**Receiving Party**") may have access to certain of the Confidential Information of the other (each a "**Disclosing Party**") or Confidential Information of third parties that the Disclosing Party is required to maintain as confidential. The Receiving Party agrees, as between it and the Disclosing Party, that all items of Confidential Information are proprietary to the Disclosing Party and will remain the sole property of the Disclosing Party. "**Confidential Information**" shall mean all written or oral information, disclosed by either Party to the other, related to the operations of either Party or a third party that has been identified as confidential or that by the nature of the information or the circumstances surrounding disclosure ought reasonably to be treated as confidential.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2<u>Mutual Confidentiality Obligations</u>. Without limiting either Party's rights under the Purchase Agreement, each Receiving Party agrees as follows: (i) to use Confidential Information disclosed by the Disclosing Party only for the purposes of Receiving Party's performance under this Agreement or as necessary for the Receiving Party to exercise its rights under this Agreement; (ii) Receiving Party will not reproduce Confidential Information of the Disclosing Party, and will hold in confidence and use reasonable commercial efforts to protect such Confidential Information from dissemination to, and use by, any third party, except as expressly permitted by this Agreement; (iii) Receiving Party will not create any derivative work from the Disclosing Party's Confidential Information, except as expressly permitted by the Agreement; (iv) Receiving Party will restrict access to the Disclosing Party's Confidential Information to such of its personnel, agents, contractors and/or consultants, if any, who have a need to have access and who have been advised of and have agreed in writing to treat such information in accordance with the terms of this Agreement; (v) Ascensia may disclose Buyer Confidential Information to its Affiliates and subcontractors as reasonably necessary to perform the Services, subject to confidentiality obligations at least as protective as those herein; and (vi) to return or destroy all of the Disclosing Party's Confidential Information in its possession upon termination or expiration of this Agreement, except with respect to the foregoing clause (vi), to the extent such Confidential Information is contained in backup systems or media in the ordinary course pursuant to bona fide record retention policies.

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&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;7.3<u>Confidentiality Exceptions</u>. Notwithstanding the foregoing, the provisions of Sections 7.1 and 7.2 will not apply to Confidential Information that (i) is publicly available or in the public domain at the time disclosed; (ii) is or becomes publicly available or enters the public domain through no fault of the Receiving Party; (iii) is rightfully communicated to Receiving Party by persons not bound by confidentiality obligations with respect thereto; (iv) is already in Receiving Party's possession free of any confidentiality obligations with respect thereto at the time of disclosure; (v) is independently developed by Receiving Party without reference to the Disclosing Party's Confidential Information; or (vi) is approved for release or disclosure by the Disclosing Party without restriction. Receiving Party may disclose Confidential Information to the limited extent necessary: (A) to comply with applicable law, including any order of a court or competent jurisdiction or other governmental body having authority over the Receiving Party, provided that the Receiving Party will first have given notice to Disclosing Party and reasonably cooperated, at the Disclosing Party's request and expense, with any efforts to obtain a protective order; or (B) to establish Receiving Party's rights under this Agreement, including to make such court filings as it may be required to do. The limited disclosure exception stated above in this Section 7.3 will not defeat the confidential status of the disclosed Confidential Information pursuant to this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4Notwithstanding anything to the contrary herein, Ascensia may use aggregated, de-identified operational data derived from Service delivery for internal analytics, service improvement, and benchmarking, provided such use does not identify Buyer or disclose Buyer Confidential Information or use any Buyer Confidential Information for any purpose competitive with the business of Buyer.

Article VIII<br>WARRANTY DISCLAIMER AND<br>LIMITATION OF LIABILITY

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Warranty Disclaimer</u>. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE SERVICES, DELIVERABLES, DOCUMENTATION AND ANY OTHER MATERIALS OR INFORMATION PROVIDED BY ASCENSIA UNDER THIS AGREEMENT ARE PROVIDED "**AS IS**" AND "AS AVAILABLE." TO THE MAXIMUM EXTENT PERMITTED BY LAW, ASCENSIA DISCLAIMS ALL WARRANTIES, CONDITIONS, AND REPRESENTATIONS, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, SATISFACTORY QUALITY, TITLE, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING, USAGE, OR TRADE PRACTICE. ASCENSIA DOES NOT WARRANT THAT THE SERVICES OR DELIVERABLES WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR THAT THEY WILL MEET BUYER'S REQUIREMENTS OR ACHIEVE ANY PARTICULAR RESULTS. ASCENSIA MAKES NO WARRANTY AS TO ACCURACY, COMPLETENESS, TIMELINESS, OR RELIABILITY OF ANY DATA OR OUTPUTS GENERATED BY OR THROUGH THE SERVICES, NOR ANY THIRD-PARTY PRODUCTS, SERVICES OR CONTENT, AND DISCLAIMS ALL LIABILITY ARISING THEREFROM. BUYER ACKNOWLEDGES THAT NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM ASCENSIA OR THROUGH THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THIS AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Buyer-Directed Actions; Allocation of Responsibility</u>. Notwithstanding anything to the contrary in this Agreement (including any Schedule), Ascensia shall have no liability whatsoever to Buyer or any third party for any losses, damages, costs, expenses, claims, penalties, or liabilities of any kind (collectively, "**Losses**") to the extent arising from actions or inactions taken by Ascensia in the course of providing Transition Services to the extent such actions or inactions (a) were taken at the direction or request of Buyer or its Affiliates and such direction or request was inconsistent with Ascensia's past practice in performing the applicable services prior to the Closing Date or (b) arose from Buyer's failure to perform<br>

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any action reasonably requested by Ascensia in writing pursuant to a written notice delivered to Ken Horton and Rick Sullivan, that it is reasonably necessary to performance the Transition Services, and such action is necessary to perform any Transition Service hereunder. Ascensia shall remain responsible, however, for Losses resulting from failure to notify Buyer within [\*\*\*] of any action Buyer was required to perform. Buyer shall be solely responsible for, and shall bear and discharge, all such Losses directly caused by such failure or its inconsistent directions. For the avoidance of doubt, this Section 8.2 applies regardless of any service levels, standards, or obligations that might otherwise be applicable under this Agreement, and prevails over any conflicting provision herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Limitation of Liability; Non-Recourse Parties</u>. As between the Parties, the sole and exclusive remedy for any and all claims, disputes, or causes of action arising out of or relating to this Agreement, and the Services contemplated hereunder, shall be pursuant to the applicable indemnification provisions set forth in Section 7 of the Purchase Agreement, and any such indemnification shall be pursued solely in accordance with, and subject to, the Threshold Amount, General Cap, Transaction Cap, procedures, limitations (including without limitation, time and liability limitations and damage waivers), and other terms and conditions contained in Section 7 of the Purchase Agreement. The General Cap and/or Transaction Cap, as and if applicable, and all other limitations on liability applicable to the Parties with respect to this Agreement are set forth in the Purchase Agreement and shall govern and control with respect to any claim, dispute or cause of action arising out of this Agreement, the Services or the other transactions contemplated hereunder. Notwithstanding the foregoing, nothing in this Agreement shall limit or restrict either Party's right to seek equitable, non-monetary relief, including specific performance and injunctive relief; provided, however, that no form of equitable relief may be sought or used to circumvent or negate the exclusive monetary remedy, caps, baskets, procedures, limitations (including without limitation, any liability limitations and damage waivers contained in Section 7 of the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4For clarity, nothing in this Agreement excludes or limits any warranty or liability that cannot be excluded or limited under applicable Law.

Article IX<br>MISCELLANEOUS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1<u>Independent Entities</u>. In providing the Transition Services hereunder, each of the Parties will act solely as an independent contractor and nothing in this Agreement will constitute or be construed to be or create a partnership, joint venture, or principal/agent between Ascensia, on the one hand, and the Buyer, on the other, and neither Party shall enter into any agreement or commitment which is binding on the other.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2<u>Headings</u>. Article and Section headings in this Agreement are included in this Agreement for convenience of reference only and shall in no way restrict or affect the interpretation of any provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall, taken together, be considered one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4<u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the choice-of-law provisions thereof.

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&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;9.5<u>Dispute Resolution</u>. In the event of any dispute, controversy, or claim arising out of or relating to this Agreement or the performance, breach, termination, or validity hereof (a "**Dispute**"), the Parties shall use good faith efforts to resolve any Dispute between designated officers of the Parties within [\*\*\*] of notice of such Dispute. If the Parties are unable to resolve the Dispute through the negotiation as detailed above, then the Parties shall submit the Dispute to binding arbitration administered by the International Centre for Dispute Resolution in accordance with its International Arbitration Rules. A single, impartial arbitrator mutually acceptable to the Parties shall conduct the arbitration. The location of the arbitration shall be in New York, New York. The Parties shall bear the costs of arbitration equally and shall bear their own expenses, including professional fees. The arbitrator's decision shall be binding, final and non-appealable (absent manifest error). Any court having jurisdiction thereof may enter judgment upon the award rendered by the arbitrator. This Section 9.5, however, shall not be construed to limit or to preclude either Party from bringing any action in any court of competent jurisdiction for injunctive or other provisional relief as necessary or appropriate. The arbitration proceeding will be confidential and the arbitrator shall issue appropriate protective orders to safeguard each Party's confidential information. Except as required by applicable Laws, including without limitation United States securities laws, no Party shall make (or instruct the arbitrator to make) any public announcement with respect to the proceedings or decision of the arbitrator without prior written consent of the other Party. The existence of any Dispute submitted to arbitration, and the award, shall be kept in confidence by the Parties and the arbitrator, except as required in connection with the enforcement of such award or as otherwise required by applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6<u>No Third Party Beneficiaries</u>. This Agreement is not intended to confer upon any Person other than the Parties hereto any rights or remedies hereunder; provided, however, that each Party's Affiliates (and their respective directors, officers, employees and representatives)_shall be deemed third-party beneficiaries of the other Party's obligations under this Agreement, and the enforcing Party may enforce such obligations on their behalf.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7<u>Assignment</u>. No Party may assign this Agreement without the express prior written consent of the other Party; provided, however, that either Party may assign this Agreement in connection with a merger, acquisition, or sale of all or substantially all of such Party's assets; provided, however, that Buyer may not assign to an Ascensia competitor or to any Person reasonably likely to impair Ascensia's ability to perform without Ascensia's prior written consent (not to be unreasonably withheld). Transition of Services to Buyer or its third-party vendors shall follow a mutually agreed transition plan at Buyer's cost with reasonable advance notice and shall not require Ascensia to transfer any Ascensia Background IP or proprietary tools. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8<u>Entire Agreement/Amendment</u>. This Agreement, the DPA and the Purchase Agreement constitute the entire agreement between the Parties with respect to the subject matter of this Agreement and supersedes all prior written and oral agreements between the Parties regarding the subject matter of this Agreement. No amendment or waiver of compliance with any provision hereof or consent pursuant to this Agreement shall be effective unless evidenced by an instrument in writing signed by the Party against whom enforcement of such amendment, waiver, or consent is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9<u>Severability</u>. If any provision of this Agreement is found to be illegal or unenforceable, the other provisions shall remain effective and enforceable to the greatest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10<u>Other Agreements</u>. Nothing contained in this Agreement is intended to amend or modify in any respect the rights and obligations of the Parties to the Purchase Agreement and in the event of any conflict between this Agreement (including the Schedule(s)), on the one hand, and the Purchase Agreement, on the other hand, the Purchase Agreement shall control. Further, nothing contained in this Agreement is

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intended to amend or modify in any respect the rights and obligations of the Parties to the Collaboration Agreement and in the event of any conflict between this Agreement (including the Schedule(s)), on the one hand, and the Collaboration Agreement, on the other hand, this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11<u>Force Majeure</u>. A Party will not be liable to the other for any delay or failure of such Party to perform its obligations hereunder due to a Force Majeure Event, provided that the affected Party uses commercially reasonable efforts to mitigate such Force Majeure Event. A Force Majeure Event does not entitle either Party to an automatic extension of Services or require Ascensia to provide Services without compensation. Further, any continuation requires mutual written agreement among the Parties hereto, including without limitation, with respect to any fee adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12<u>Specific Performance</u>. Each of the Parties acknowledges and agrees that the other Party would be damaged irreparably and suffer unreasonable hardship in the event that any term or provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached or violated. Accordingly, each of the Parties agrees that, without posting bond or other undertaking, the other Party will be entitled to an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof and thereof in any claim instituted in any court with jurisdiction over the Parties or their assets in addition to any and all other rights and other remedies at law or in equity and all such rights and remedies will be cumulative. Each of the Parties further agrees that, in the event of any action for specific performance in respect of such breach or violation, it will not assert the defense that a remedy at law would be adequate or that the balance of hardships between the Parties makes an equitable remedy unwarranted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13<u>No Strict Construction</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the Parties hereto, and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14<u>Order of Precedence; Schedule Control</u>. In the event of a conflict between this Agreement and any Schedule, the more specific terms of the applicable Schedule control for the Services described therein; provided, the limitation of liability, intellectual property, confidentiality and payment terms in the main body of the Agreement prevail unless the applicable Schedule expressly states otherwise.

[Signature page on next page.]

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written.

**Senseonics, Incorporated**

By: <u>/s/ Timothy T. Goodnow, Ph.D.</u> 

Name: Timothy T. Goodnow, Ph.D.

Title: President and CEO

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**Ascensia Diabetes Care Holdings AG**

*(two signatories required)*

By:

Name: Koichiro Sato

Title: Chief Executive Officer

**Ascensia Diabetes Care Holdings AG**

*(two signatories required)*

By:

Name: Marieke Jansen

*[Signature Page to Transition Services Agreement]*

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written.

**Senseonics, Incorporated**

By:

Name:

Title:

---------------------

**Ascensia Diabetes Care Holdings AG**

*(two signatories required)*

By: */s/ Koichiro Sato* 

Name: Koichiro Sato

Title: Chief Executive Officer

**Ascensia Diabetes Care Holdings AG**

*(two signatories required)*

By: */s/ Marieke Jansen* 

Name: Marieke Jansen

*[Signature Page to Transition Services Agreement]*

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#### SCHEDULE A <br> Shared Services
[\*\*\*]

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#### SCHEDULE B <br> Employee Services
[\*\*\*]

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#### SCHEDULE C <br> BGM Sales Force Coverage
[\*\*\*]

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#### SCHEDULE D <br> Tender Management Services
[\*\*\*]

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## Exhibit 10.3

**EXHIBIT 10.3**

**CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [\*\*\*]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.**

**THIS FIRST AMENDMENT TO AMENDED AND RESTATED COLLABORATION AND COMMERCIALIZATION AGREEMENT** (this "***Amendment***") is entered into as of March 12, 2026 (the "***Amendment Effective Date***") by and between Senseonics, Incorporated, a Delaware corporation ("***Senseonics***") and Ascensia Diabetes Care Holdings AG ("***Ascensia***").

**RECITALS**

**WHEREAS**, Senseonics and Ascensia have entered into that certain Amended and Restated Collaboration and Commercialization Agreement, dated December 31, 2025 (the "***Agreement***"); and

**WHEREAS**, the parties desire to amend the Agreement as set forth herein.

**NOW**, **THEREFORE**, in consideration of the mutual promises and covenants herein and other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follow:

**AGREEMENT**

**1. Definitions**. Capitalized terms used herein and not defined in this Amendment shall have the meaning assigned to them in the Agreement.

**2. Amendment**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1**Section 1.16 of the Agreement is deleted in its entirety and restated as follows:

"***Tender Agreement***" means any agreement with respect to Italy, Spain and/or Sweden, between Ascensia and any local or regional governmental entity or governmental body for the Supply of Products in the Field to a pre-defined user group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2**Section 2.7 (f) of the Agreement is deleted in its entirety and restated as follows:

Promotional Materials. Senseonics will be responsible for reviewing and approving key advertising, sales information, literature, and other promotional materials pertaining Products ("***Promotional Material***") prior to use or dissemination by Ascensia in the Territories. Senseonics is fully responsible for ensuring all new materials are compliant according to relevant legal, medical, and regulatory standards. Notwithstanding the foregoing, any Promotional Materials that are in use by Ascensia in the Territory as of the Amended Effective Date and have been previously approved by Senseonics (if and to the extent such approval was required under the Prior Agreement) may continue to be used by Ascensia without further review or approval by Senseonics, so long as they remain accurate, compliant with applicable law and consistent with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3**Section Sections 4.3 and 4.4 of the Agreement are deleted in its entirety and restated as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Taxes**. Unless otherwise provided on the Purchase Order, in addition to the amounts stated above, Senseonics shall pay costs for all sales, use, value-added or excise taxes, assessments or other charges, including customs duties and similar fees attributable to the sale of the Product. In the event Ascensia pays any such fees, taxes, or charges, Ascensia shall promptly invoice Senseonics for the same pursuant to the Transition Services Agreement, except that duties import are to be included in the COGS per section 4.4 and settled through the corresponding true-up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Transition True-up**. For the period from [\*\*\*], or [\*\*\*], the Parties shall conduct a monthly true-up to account for [\*\*\*]. For such true-up, the amounts owed to Senseonics under the 100% revenue share shall be reduced to the extent of [\*\*\*], to the extent that (i) such amounts are actually incurred and paid out in the period and (ii) such amounts are not otherwise attributable to or accounted for under the Transition Services Agreement, including without limitation under Schedule A cost sharing, Schedule B, payments for operating expenses, or otherwise.

**3. Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1Precedence**. In the event of any conflict between the express terms of this Amendment and those of the Agreement, those of this Amendment shall govern. All terms of the Agreement, as amended hereby, shall remain in full force and effect, and are hereby confirmed and ratified in all respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2Counterparts**. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

**[*Signature Page Follows*]**

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**IN WITNESS WHEREOF**, the parties confirm and acknowledge the terms of this Agreement. The parties represent and warrant that the persons executing this Amendment have all necessary authority to enter into, and bind the relevant entity, to this Amendment.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Senseonics**:<br>Senseonics, Incorporated<br>Signature: */s/ Timothy T. Goodnow, Ph.D.* <br>Name: <u>Timothy T. Goodnow, Ph.D.</u> <br>Title: <u>President and CEO</u> <br>Date: <u>March 12, 2026</u>  | &nbsp;&nbsp;**Ascensia**:<br>Ascensia Diabetes Care Holdings AG<br>Signature: <br>Name: <br>Title: <br>Date: <br>Signature: <br>Name: <br>Title: <br>Date:  |

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*[Signature Page to First Amendment to Amended and Restated Collaboration and Commercialization Agreement]*

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**IN WITNESS WHEREOF**, the parties confirm and acknowledge the terms of this Agreement. The parties represent and warrant that the persons executing this Amendment have all necessary authority to enter into, and bind the relevant entity, to this Amendment.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Senseonics**:<br>Senseonics, Incorporated<br>Signature: <br>Name: <br>Title: <br>Date:  | &nbsp;&nbsp;**Ascensia**:<br>Ascensia Diabetes Care Holdings AG<br>Signature: */s/ Koichiro Sato* <br>Name: <u>Koichiro Sato</u> <br>Title: <u>Chief Executive Officer</u> <br>Date: <u>3/11/2026</u> <br>Signature: */s/ Marieke Jansen* <br>Name: <u>Marieke Jansen</u> <br>Title: <u>General Counsel</u> <br>Date: <u>3/11/2026</u>  |

---

*[Signature Page to First Amendment to Amended and Restated Collaboration and Commercialization Agreement]*

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## Exhibit 31.1

**EXHIBIT 31.1** 

**CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER** 

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Timothy T. Goodnow, Ph.D., certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Senseonics Holdings, Inc. (the "registrant");

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 7, 2026

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| |
|:---|
| /s/ Timothy T. Goodnow, Ph.D.  |
| Timothy T. Goodnow, Ph.D. |
| President & Chief Executive Officer |
| (principal executive officer) |

---

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## Exhibit 31.2

**EXHIBIT 31.2** 

**CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER** 

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Rick Sullivan, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Senseonics Holdings, Inc. (the "registrant");

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 7, 2026

---

| |
|:---|
| /s/ Rick Sullivan |
| Rick Sullivan |
| Chief Financial Officer |
| (principal financial officer) |

---

------

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATIONS OF** 

**PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER** 

**PURSUANT TO 18 U.S.C. SECTION 1350,** 

**AS ADOPTED PURSUANT TO** 

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

Pursuant to the requirement set forth in Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. §1350), Timothy T. Goodnow, Ph.D., President and Chief Executive Officer of Senseonics Holdings, Inc. (the "Company"), and Rick Sullivan, Chief Financial Officer of the Company, each hereby certifies that, to the best of his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 (the "Quarterly Report"), to which this Certification is attached as Exhibit 32.1, fully complies with the requirements of Section 13(a) or Section 15(d) of the Exchange Act, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

**In Witness Whereof,** the undersigned have set their hands hereto as of the 7<sup>th</sup> day of May 2026.

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| | |
|:---|:---|
| /s/ Timothy T. Goodnow, Ph.D.  | /s/ Rick Sullivan  |
| Timothy T. Goodnow, Ph.D. | Rick Sullivan |
| President & Chief Executive Officer | Chief Financial Officer |
| (principal executive officer) | (principal financial officer) |

---

\*This certification accompanies the Form 10-Q to which it relates, is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act (whether made before or after the date of the Form 10-Q), irrespective of any general incorporation language contained in such filing.

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