# EDGAR Filing Document

**Accession Number:** 0001699963
**File Stem:** 0001628280-26-044471
**Filing Date:** 2026-6
**Character Count:** 2442130
**Document Hash:** e30f668f6090daf2abfd5ce76ff52539
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-044471.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001628280-26-044471

**CONFORMED SUBMISSION TYPE**: S-1/A

**PUBLIC DOCUMENT COUNT**: 77

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Neutron Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001699963
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 814870517
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295679
- **FILM NUMBER:** 261104852

**BUSINESS ADDRESS:**
- **STREET 1:** 444 TOWNSEND ST
- **STREET 2:** FL 1
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94107
- **BUSINESS PHONE:** 415-449-4139

**MAIL ADDRESS:**
- **STREET 1:** 444 TOWNSEND ST
- **STREET 2:** FL 1
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94107

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**As filed with the U.S. Securities and Exchange Commission on June 22, 2026.**

**Registration No. 333-295679**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**AMENDMENT NO. 1 TO**

**FORM S-1**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**Neutron Holdings, Inc.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **7372** | **81-4870517** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(Primary Standard Industrial**<br>**Classification Code Number)** | **(I.R.S. Employer** <br>**Identification Number)** |

---

**444 Townsend Street, First Floor**

**San Francisco, California 94107**

**(415) 449-4139**

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

**Wayne Ting**

**Chief Executive Officer**

**444 Townsend Street, First Floor**

**San Francisco, California 94107**

**(415) 449-4139**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

***Copies to****:*

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| | | |
|:---|:---|:---|
| **Tad J. Freese**<br>**Sarah B. Axtell**<br>**Latham & Watkins LLP**<br>**801 Jefferson Ave**<br>**Redwood City, CA 94063**<br>**(650) 328-4600** | **Susie Giordano**<br>**Luke Rachlin**<br>**Daniel Yao**<br>**T. Mitchell Hughes**<br>**Neutron Holdings, Inc.**<br>**444 Townsend Street, First Floor**<br>**San Francisco, California 94107**<br>**(415) 449-4139** | **Alan F. Denenberg**<br>**Elizabeth W. LeBow**<br>**Davis Polk & Wardwell LLP**<br>**900 Middlefield Road**<br>**Redwood City, California 94063**<br>**(650) 752-2000** |

---

**Approximate date of commencement of proposed sale to the public**: As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

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.

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| | |
|:---|:---|
| Large accelerated filer ☐ | Accelerated filer ☐ |
| Non-accelerated filer ☒ | Smaller reporting company ☐ |
| | 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 7(a)(2)(B) of the Securities Act. ☐

**The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

The information in this preliminary prospectus is not complete and may be changed. We and the selling stockholders may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and neither we nor the selling stockholders are soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

SUBJECT TO COMPLETION, DATED June 22, 2026

**PRELIMINARY PROSPECTUS**

![limelogo1a.jpg](limelogo1a.jpg)

6,956,522 Shares

**Neutron Holdings, Inc.**

Common Stock

This is the initial public offering of our common stock. Prior to this offering, there has been no public market for the common stock. We are selling 6,679,791 shares of our common stock and the selling stockholders identified in this prospectus are selling an aggregate of 276,731 shares of common stock. We will not receive any proceeds from the sale of shares of common stock by any of the selling stockholders. We currently expect the initial public offering price to be between $24.00 and $26.00 per share of common stock.

We intend to grant the underwriters an option to purchase up to 1,043,478 additional shares of our common stock.

We have applied to list our common stock on the Nasdaq Global Select Market ("Nasdaq") under the symbol "LIME." This offering is contingent upon approval of the listing of our common stock on Nasdaq.

We are an "emerging growth company" as defined under the federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings.

**Investing in our common stock involves risks. See the section titled "<u>[Risk Factors](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u>" beginning on page <u>[17](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> to read about risk factors you should consider before deciding to invest in our common stock.**

Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

---

| | | |
|:---|:---|:---|
| | **Per Share** | **Total** |
| Initial public offering price | $ | $|
| Underwriting discounts and commissions<sup>(1)</sup> | $ | $|
| Proceeds to us (before expenses) | $ | $|
| Proceeds to selling stockholders (before expenses) | $ | $|

---

____________

(1)See the section titled "<u>[Underwriting](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u>" for a description of the compensation payable to the underwriters.

Entities affiliated with Uber Technologies, Inc. ("Uber") have indicated an interest in purchasing up to an aggregate of $20.0 million in shares of our common stock in this offering at the initial public offering price and on the same terms and conditions as the other purchasers in this offering. Uber will be subject to a lock-up agreement with the underwriters and the Uber Lock-Up (as defined below), each of which contains restrictions on sales and/or other transfers on shares beneficially held by Uber. See the sections titled "Certain Relationships and Related-Party Transactions—Uber Lock-Up" and "Underwriting" for additional information. Because this indication of interest is not a binding agreement or commitment to purchase, entities affiliated with Uber may determine to purchase more, fewer, or no shares in this offering, or the underwriters may determine to sell more, fewer, or no shares to entities affiliated with Uber. The underwriters will receive the same underwriting discount on any shares of our common stock purchased by entities affiliated with Uber as they will from the other shares sold to the public in this offering.

The underwriters expect to deliver the shares to purchasers on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026 through the book-entry facilities of The Depository Trust Company.

---

| | | |
|:---|:---|:---|
| **Goldman Sachs & Co. LLC** | **J. P. Morgan** | **Jefferies** |
| **Evercore ISI** | **Citizens Capital Markets** | **KeyBanc Capital Markets** |

---

---

| | |
|:---|:---|
| **Needham & Company** | **William Blair** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | **Page** |
| <u>[C](#i2daaa9faa0b24be68f6320125a1b1051_5569)[EO L](#i2daaa9faa0b24be68f6320125a1b1051_5569)[ETTER](#i2daaa9faa0b24be68f6320125a1b1051_5569)</u> | <u>[iii](#i2daaa9faa0b24be68f6320125a1b1051_5569)</u> |
| <u>[PROSPECTUS SUMMARY](#i2daaa9faa0b24be68f6320125a1b1051_4058)</u> | <u>[1](#i2daaa9faa0b24be68f6320125a1b1051_4058)</u> |
| <u>[THE OFFERING](#i2daaa9faa0b24be68f6320125a1b1051_4045)</u> | <u>[9](#i2daaa9faa0b24be68f6320125a1b1051_4045)</u> |
| <u>[SUMMARY CONSOLIDATED FINANCIAL DATA](#i2daaa9faa0b24be68f6320125a1b1051_4032)</u> | <u>[13](#i2daaa9faa0b24be68f6320125a1b1051_4032)</u> |
| <u>[RISK FACTORS](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> | <u>[17](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u> |
| <u>[SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS](#i2daaa9faa0b24be68f6320125a1b1051_3990)</u> | <u>[76](#i2daaa9faa0b24be68f6320125a1b1051_3990)</u> |
| <u>[MARKET AND INDUSTRY DATA](#i2daaa9faa0b24be68f6320125a1b1051_3969)</u> | <u>[79](#i2daaa9faa0b24be68f6320125a1b1051_3969)</u> |
| <u>[USE OF PROCEEDS](#i2daaa9faa0b24be68f6320125a1b1051_3948)</u> | <u>[80](#i2daaa9faa0b24be68f6320125a1b1051_3948)</u> |
| <u>[DIVIDEND POLICY](#i2daaa9faa0b24be68f6320125a1b1051_3927)</u> | <u>[82](#i2daaa9faa0b24be68f6320125a1b1051_3927)</u> |
| <u>[CAPITALIZATION](#i2daaa9faa0b24be68f6320125a1b1051_3906)</u> | <u>[83](#i2daaa9faa0b24be68f6320125a1b1051_3906)</u> |
| <u>[DILUTION](#i2daaa9faa0b24be68f6320125a1b1051_3885)</u> | <u>[86](#i2daaa9faa0b24be68f6320125a1b1051_3885)</u> |
| <u>[MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#i2daaa9faa0b24be68f6320125a1b1051_389)</u> | <u>[89](#i2daaa9faa0b24be68f6320125a1b1051_389)</u> |
| <u>[BUSINESS](#i2daaa9faa0b24be68f6320125a1b1051_3842)</u> | <u>[128](#i2daaa9faa0b24be68f6320125a1b1051_3842)</u> |
| <u>[MANAGEMENT](#i2daaa9faa0b24be68f6320125a1b1051_3821)</u> | <u>[166](#i2daaa9faa0b24be68f6320125a1b1051_3821)</u> |
| <u>[EXECUTIVE AND DIRECTOR COMPENSATION](#i2daaa9faa0b24be68f6320125a1b1051_3800)</u> | <u>[174](#i2daaa9faa0b24be68f6320125a1b1051_3800)</u> |
| <u>[CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS](#i2daaa9faa0b24be68f6320125a1b1051_3779)</u> | <u>[189](#i2daaa9faa0b24be68f6320125a1b1051_3779)</u> |
| <u>[PRINCIPAL](#i2daaa9faa0b24be68f6320125a1b1051_3758)[AN](#i2daaa9faa0b24be68f6320125a1b1051_3758)[D SELLING](#i2daaa9faa0b24be68f6320125a1b1051_3758)[STOCKHOLDERS](#i2daaa9faa0b24be68f6320125a1b1051_3758)</u> | <u>[194](#i2daaa9faa0b24be68f6320125a1b1051_3758)</u> |
| <u>[DESCRIPTION OF SECURITIES](#i2daaa9faa0b24be68f6320125a1b1051_3737)</u> | <u>[198](#i2daaa9faa0b24be68f6320125a1b1051_3737)</u> |
| <u>[SHARES ELIGIBLE FOR FUTURE SALE](#i2daaa9faa0b24be68f6320125a1b1051_3716)</u> | <u>[207](#i2daaa9faa0b24be68f6320125a1b1051_3716)</u> |
| <u>[MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS](#i2daaa9faa0b24be68f6320125a1b1051_3695)</u> | <u>[211](#i2daaa9faa0b24be68f6320125a1b1051_3695)</u> |
| <u>[UNDERWRITING](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u> | <u>[215](#i2daaa9faa0b24be68f6320125a1b1051_3674)</u> |
| <u>[LEGAL MATTERS](#i2daaa9faa0b24be68f6320125a1b1051_3653)</u> | <u>[225](#i2daaa9faa0b24be68f6320125a1b1051_3653)</u> |
| <u>[E](#i2daaa9faa0b24be68f6320125a1b1051_4602)[XPERTS](#i2daaa9faa0b24be68f6320125a1b1051_4602)</u> | <u>[225](#i2daaa9faa0b24be68f6320125a1b1051_4602)</u> |
| <u>[WHERE YOU CAN FIND ADDITIONAL INFORMATION](#i2daaa9faa0b24be68f6320125a1b1051_4615)</u> | <u>[225](#i2daaa9faa0b24be68f6320125a1b1051_4615)</u> |
| <u>[INDEX TO CONSOLIDATED FINANCIAL STATEMENTS](#i2daaa9faa0b24be68f6320125a1b1051_312)</u> | <u>[F-1](#i2daaa9faa0b24be68f6320125a1b1051_312)</u> |

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**Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2026 (the 25th day after the date of this prospectus), all dealers that buy, sell or trade shares of our common stock, whether or not participating in this offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

As used in this prospectus, unless the context otherwise requires, references to "Lime," the "company," "we," "us," "our" and similar terms refer to Neutron Holdings, Inc. and, where appropriate, its subsidiaries, taken as a whole.

"Lime," the Lime logos and other trade names, trademarks, or service marks of Lime appearing in this prospectus are the property of Neutron Holdings, Inc. Other trade names, trademarks or service marks appearing in this prospectus are the property of their respective holders. Solely for convenience, trade names, trademarks, and service marks referred to in this prospectus appear without the®,™ and ℠ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner will not assert its rights, to these trade names, trademarks, and service marks.

i

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

Numerical figures included in this prospectus have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them.

References to www.li.me in this prospectus are inactive textual references only, and the information contained on, or that can be accessed through, our website does not constitute part of this prospectus.

Neither we, the selling stockholders, nor the underwriters have authorized anyone to provide you any information or to make any representations other than those contained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. Neither we, the selling stockholders, nor the underwriters take responsibility for, or provide any assurance as to the reliability of, any other information others may give you. This prospectus is an offer to sell only the shares offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. We, the selling stockholders, and the underwriters are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of the shares of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.

For investors outside the United States: Neither we, the selling stockholders, nor the underwriters have done anything that would permit this offering or the possession or distribution of this prospectus or any free writing prospectus in connection with this offering in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our common stock and the distribution of this prospectus outside the United States. See the section titled "Underwriting" for additional information.

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iv

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v

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**PROSPECTUS SUMMARY**

*This summary highlights selected information contained elsewhere in this prospectus. This summary does not contain all of the information that you should consider before deciding to invest in our common stock. You should read this entire prospectus carefully, including the sections titled "Risk Factors," "Special Note Regarding Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Business," and our consolidated financial statements and related notes included elsewhere in this prospectus before making an investment decision.* 

**Overview**

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>1</sup> across 29 countries<sup>2</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

Our platform creates a self-reinforcing, virtuous network effect that aligns value for riders and city priorities: more riders using our service enables cities to meet their local policy goals faster, which encourages cities to expand shared micromobility programs and invest in additional infrastructure, which in turn enhances the rider experience and attracts even more riders. What started as convenience enjoyed by individual riders has, through our platform, reshaped how people move around cities, which demonstrates that shared micromobility isn't just viable but can be an essential component of urban life.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, and 14.3% of total revenue in 2023, 2024, and 2025, respectively, and was approximately 14.0% for the three months ended March 31, 2026.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and

<sup>1</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>2</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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has contributed to our significant market share. We calculate our market share primarily using data for monthly active app users ("MAAUs") from Sensor Tower (as defined below) for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively, representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024, and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable GAAP financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**The Shared Micromobility Industry**

Shared micromobility facilitates short-distance urban travel, typically under five miles, using shared lightweight vehicles like e-scooters and e-bikes.

The shared micromobility industry emerged in the mid-2000s with the introduction of government-sponsored dock-based bike-share systems in major cities, which established the foundation for shared micromobility but also exposed key constraints. The limitations of traditional docked systems spurred significant breakthroughs in shared micromobility resulting in the emergence of the modern micromobility industry in 2017, driven by technological advancements in smartphones, GPS tracking, IoT connectivity, and batteries.

With the majority of journeys relying on cars and public transportation globally, and travel and tourism driving an estimated $11 trillion in annual global spending in 2024 according to the World Travel and Tourism Council, shared micromobility has emerged as a critical solution for two of urban mobility's largest and most impactful opportunities: Commuting and Tourism. Commuters can reduce travel time, eliminate parking costs, and bridge the first- and last-mile gap between transit stations and destinations. Tourists can embrace shared micromobility as an immersive way to explore cities while having fun.

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**Our Market Opportunity**

We believe we are in the early innings of a multi-decade opportunity. The modern era of app-enabled "free-floating" systems — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — only recently began in 2017 and has grown rapidly since, spurred by significant technological breakthroughs and business evolution.

The continued growth and evolution of micromobility is a result of a number of secular tailwinds driven by evolving consumer priorities and broad government support. Consumers want to save time, save money and enjoy transportation options that offer more than just utility. We further believe that the increase in shared micromobility adoption is driven in part by a demographic shift, with younger generations showing less interest in driving. In addition, many governments have a mandate to accommodate increasing urbanization and to reduce car congestion and carbon emissions.

We view our opportunity in terms of our serviceable addressable market opportunity ("SAM"), which we believe we can address today, and our total addressable market opportunity ("TAM"), which we believe we can address over the long term.

We estimate our SAM to be approximately $6.1 billion. Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of addressable riders within our existing cities. However, we see that in our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population.

To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion opportunities within the next five years. At an adoption rate of 30% of people in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people in our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

**Lime's Vertically Integrated Platform**

Lime's platform combines proprietary hardware and software, data, tech-enabled operations, and government relations expertise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware:</u> At the core of our platform is our electric vehicle fleet, which includes proprietary e-scooters, e-bikes, and seated e-scooters, all available through our proprietary Rider App, enabling a free-floating model that offers flexible mobility options for riders and cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software:</u> Our proprietary technology stack consists of three interconnected systems: the Rider App, the Lime Supply App, and an IoT-enabled hardware system that connects our fleet to both the Rider App and the Lime Supply App. The Rider App facilitates the trip experience for riders. Lime's operations workforce uses the Lime Supply App to manage and maintain our fleet. Our IoT system continuously monitors vehicle locations around the world, vehicle health, and operational metrics through embedded sensors and other technology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data:</u> Data acquisition and analysis is a key pillar of our platform. We use data from our Rider App along with vehicle telemetry data to support vehicle demand forecasting and optimize hardware designs. Data is also a strategic asset for our operations workforce, enabling us to optimize efficiency and responsiveness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations:</u> Our global operations are supported by employees, logistics providers, and contingent workers, all of whom leverage technology and data to drive efficiency and enhance the rider experience. Maintenance, deployment, charging, repositioning, and retrieval of our fleet are carried out through these combined resources.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise:</u> Our dedicated government relations and local customer service teams collaborate closely with cities, combining our operational expertise with deep local knowledge and in-depth discussions with key city officials to secure permits and deliver actionable insights informed by our extensive anonymized dataset.

**Providing an Exceptional Rider Experience**

We offer our riders exceptional value by delivering a reliable, easy, and convenient experience. Our commitment to improving short-distance travel and expanding availability helped foster a broad base of loyal riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reliability:</u> We are focused on providing a reliable and convenient transportation solution for our riders, with dependable access to well-maintained vehicles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Ease of Use:</u> We are focused on providing a fast and intuitive journey, from vehicle location to trip completion, for our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Comfort:</u> Our vehicle design prioritizes rider comfort. Our latest models feature tuned acceleration curves designed to keep rides smooth for enhanced balance and reduced strain, ergonomic handlebars designed to reduce fatigue especially for longer rides, and well-designed, intuitive controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Trust:</u> Riders trust Lime as a safe and dependable choice for daily travel. We prioritize safety in vehicle design and manufacture, while our Rider App helps bolster rider confidence through riding tutorials and city-specific regulations or safety guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Fun:</u> Lime offers riders a joyful way to explore neighborhoods and cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Affordability:</u> We are focused on providing good value to our riders through various pricing plans that specifically fit riders' travel needs, be it daily commutes or exploring new cities on vacation.

**Lime's Value Proposition to Cities**

We believe that our success is intrinsically linked to the success of the cities we serve. We strive to be a trusted partner, providing solutions that seek to address the core priorities of our city partners, including reducing congestion, expanding affordable transit access, and lowering emissions. We provide value to cities by offering:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expanded Transportation Access and Efficiency:</u> We are focused on expanding access to transportation by providing first- and last-mile connectivity and filling gaps where city services may not exist or operate with limited availability during off-peak hours.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Multimodal Fleet Reaching More Riders:</u> We provide cities with a 'one-stop shop' fleet of electric vehicles that can address a variety of urban transportation challenges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reduced Congestion:</u> Our shared micromobility fleet enables cities to ease the strain on overburdened city roads, from daily rush hours to major events like concerts and sporting events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Progress Towards Sustainability Goals:</u> Lime's shared micromobility vehicles offer a sustainable alternative, producing zero tailpipe emissions compared to about 400g of carbon dioxide per mile for the average car according to the Environmental Protection Agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant and Well-Organized Operations:</u> We design our hardware, location accuracy technology, and operational strategy to comply with local city requirements.

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**Lime's Competitive Advantages**

The combination of our vertically integrated platform, scale, market leadership, brand awareness, efficient operating model, and network partnerships all work together to create competitive advantages for our business. Together, they have contributed to our position as a leader in the shared micromobility industry and positioned us for growth.

Lime's platform is designed to optimize the rider experience. Our platform seamlessly integrates government relations expertise that helps win us the right to serve a city with hardware, software, and data that drive topline growth and margin through an understanding of rider preferences and optimized vehicle availability. The result is a virtuous cycle where each component enhances the whole, creating operational advantages that strengthen progressively with scale.

Lime's scale provides numerous benefits. Riders tend to gravitate to micromobility operators with the most city-wide vehicle availability, enabling Lime to become a preferred choice for shared micromobility in numerous cities where we operate. Scale expands our visibility and availability, which has supported our brand awareness with the public, positioning Lime as a go-to-choice for shared micromobility while reducing the amount spent on customer acquisition costs. In 2025, we spent approximately 2% of our revenue on marketing expenses.

Lime's scale also enables a highly-efficient operating model, which optimizes resource allocation and reduces the cost to serve our riders. Our model also allows us to adjust operational costs to match rider demand, reducing fixed costs and allowing us to adapt to changing market conditions. Our technology allows prioritization of tasks with the greatest return on investment and vehicle positioning to increase rider convenience, while scale brings density that reduces the cost of in-field operations.

Lastly, we benefit from a mutually exclusive partnership with Uber that allows Lime vehicles to be featured as a ride option within the Uber app in nearly all of our shared markets, providing us with direct access to Uber's global user base. This integration acts as a highly efficient rider acquisition channel.

**Growth Strategies**

We believe Lime has significant room to grow our share and expand the shared micromobility market. We intend to grow through:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Deepen Presence in Existing Cities:</u> We aim to grow the size of our existing fleet, which already operates in approximately 230 cities, by leveraging our existing infrastructure. Our strong partnership and long-standing operating track record with cities enable us to grow our fleet caps under city permits, as demonstrated by our 116% operational fleet retention rate in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reach New Cities and Countries:</u> Many cities around the world still lack shared micromobility as a transportation option, and several secular trends support our expectation for continued adoption. We entered into 19 new cities in 2025 and intend to pursue opportunities to launch our fleet in more cities, with a focus on metropolitan areas we believe will have a high return on investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Increase Engagement of Existing Riders:</u> We believe that one of our greatest opportunities is increasing engagement and securing additional trips from our existing riders. In the past, we have increased engagement by introducing prepaid bundles and subscription programs like LimePass and LimePrime, respectively, to cater to riders who could more frequently use Lime vehicles. These programs are designed to incentivize our riders to take more trips and convert casual riders into routine riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Launch New and Improved Products and Services:</u> Innovation is at the core of how Lime operates, and we have a dedicated research and development team that iterates on vehicle design and features to continuously improve our existing fleet. This team also evaluates new

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modes of transportation for future launch. With each new generation of vehicles, we have enhanced our modular design to unlock additional use cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expand Partnerships:</u> We continue to evaluate strategic commercial partnerships to expand our market reach and broaden our rider base. As part of this initiative, we are piloting programs to support corporate campuses and exploring potential programs with higher education campuses. In addition, we are exploring potential partnerships with food delivery services to offer tailored access to our fleet through daily or weekly passes for couriers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Strategic Acquisitions:</u> We employ a disciplined approach to potential acquisitions, carefully evaluating opportunities that could strengthen our platform, increase the diversity of our vehicle platforms, and extend Lime's reach into new cities.

**Uber Extended Lock-Up**

In connection with the Uber Integration Agreement (as defined below), we entered into a lock-up side letter with Uber on October 4, 2023, as amended on June 21, 2026 (the "Uber Lock-Up"), pursuant to which Uber agreed, among other things, that it will not, without our prior written consent, subject to certain customary exceptions, sell, transfer or dispose of shares of our common stock or securities convertible into shares of our common stock held by Uber as of immediately prior to this offering, subject to certain staggered releases taking place over two years from the date of this prospectus. The lock-up side letter does not apply to shares of common stock that Uber may purchase in this offering, and would terminate if the Uber Integration Agreement is terminated. See the section titled "Certain Relationships and Related-Party Transactions—Uber Lock-Up" for additional information.

**Indication of Interest**

Entities affiliated with Uber have indicated an interest in purchasing up to an aggregate of $20.0 million in shares of our common stock in this offering at the initial public offering price and on the same terms and conditions as the other purchasers in this offering. Uber will be subject to a lock-up agreement with the underwriters and the Uber Lock-Up, each of which contains restrictions on sales and/or other transfers on shares beneficially held by Uber. See the sections titled "Certain Relationships and Related-Party Transactions—Uber Lock-Up" and "Underwriting" for additional information. Because this indication of interest is not a binding agreement or commitment to purchase, entities affiliated with Uber may determine to purchase more, fewer, or no shares in this offering, or the underwriters may determine to sell more, fewer, or no shares to entities affiliated with Uber. The underwriters will receive the same underwriting discount on any shares of our common stock purchased by entities affiliated with Uber as they will from the other shares sold to the public in this offering.

**Revolving Credit Facility Agreement**

Substantially concurrently with, and conditioned upon, the completion of this offering, we intend to enter into a $200.0 million syndicated senior secured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, and various lenders (the "Revolving Credit Facility"). See the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources" for additional information.

**Risk Factors Summary**

Our business is subject to a number of risks and uncertainties of which you should be aware before making a decision to invest in our common stock. These risks are more fully described in the section titled "Risk Factors" immediately following this prospectus summary. These risks include, among others, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have a history of net losses and we may not be able to achieve or maintain profitability in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our revenue growth rate and financial performance in recent periods may not be indicative of future performance and such revenue growth rate may slow over time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we fail to effectively manage or continue our growth, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our operations have historically varied from period-to-period and are seasonal and dependent on weather. Our financial performance in certain periods may not be indicative of, or comparable to, our financial performance in subsequent periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the shared micromobility industry does not continue to grow, grows more slowly than we expect, or fails to grow as large or otherwise develop as we expect, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We face intense competition and we may not be able to compete effectively, which could adversely affect our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any impairment of our ability to provide a sufficient number of safe and reliable vehicles at the times and locations riders expect would undermine our network effect and adversely affect our revenue, business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any actual or perceived cybersecurity breach or incident could interrupt our operations, harm our brand and adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our reputation and brand in the cities in which we operate are important to our success, and if we are not able to maintain and continue developing our reputation and brand, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we are unable to successfully develop and market new offerings or make enhancements to our existing offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we fail to attract and continue to work with qualified logistics providers, or ensure sufficient contingent workers, our business, financial condition, results of operations, and prospects could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have identified a material weakness in our internal control over financial reporting and, if not timely remediated, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence and the price of our common stock.

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**Corporate Information**

We were incorporated in January 2017 as a Delaware corporation. Our principal executive offices are located at 444 Townsend Street, First Floor, San Francisco, California 94107, and our telephone number is (415) 449-4139. Our website address is *www.li.me*. Information contained on, or that can be accessed through, our website does not constitute part of this prospectus, and the inclusion of our website address in this prospectus is an inactive textual reference only.

**Implications of Being an Emerging Growth Company**

We are an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). We will remain an emerging growth company until the earliest of: (i) the last day of the fiscal year following the fifth anniversary of the consummation of this offering; (ii) the last day of the fiscal year in which we have total annual gross revenue of at least $1.235 billion; (iii) the last day of the fiscal year in which we are deemed to be a "large accelerated filer" as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which would occur if the market value of our common stock held by non-affiliates exceeded $700.0 million as of the last business day of the second fiscal quarter of such year; or (iv) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. As an emerging growth company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will avail ourselves of the exemption from the requirement to obtain an attestation and report from our independent registered public accounting firm on the assessment of our internal control over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will provide less extensive disclosure about our executive compensation arrangements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will not require stockholder non-binding advisory votes on executive compensation or golden parachute arrangements.

In addition, the JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period for any other new or revised accounting standards until the date that we are no longer an emerging growth company or affirmatively and irrevocably opt out of the extended transition period. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

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**THE OFFERING**

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| | |
|:---|:---|
| Common stock offered by us | 6,679,791 shares. |
| Common stock offered by the selling stockholders | 276,731 shares. |
| Underwriters' option to purchase additional shares of common stock from us | 1,043,478 shares. |
| Common stock to be outstanding immediately after this offering | 64,025,936 shares (or 65,069,414 shares if the underwriters exercise their option to purchase additional shares of common stock from us in full). |
| Use of proceeds | We estimate that we will receive net proceeds from this offering of approximately $141.6 million (or $165.8 million if the underwriters exercise their option to purchase additional shares of common stock from us in full), based upon the assumed initial public offering price of $25.00 per share of common stock, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.<br>The principal purposes of this offering are to obtain additional capital to fund our operations, create a public market for our common stock, facilitate an orderly distribution of shares for the selling stockholders, facilitate our future access to the public equity markets, and increase our visibility in the marketplace. We currently intend to use $115.0 million of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan (as defined elsewhere in this prospectus). We also intend to use approximately $4.8 million of the net proceeds from this offering to satisfy our anticipated tax withholding and remittance obligations related to the RSU Settlement and an additional approximately $2.8 million for additional RSUs that will net settle in connection with this offering (in each case, based upon the assumed initial public offering price of $25.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and an assumed 45% tax withholding tax rate). We intend to use the remaining net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures. We may also use a portion of the net proceeds to in-license, acquire or invest in complementary technologies, assets or intellectual property. We periodically evaluate strategic opportunities; however, we have no current commitments to enter into any such acquisitions or make any such investments. We will have broad discretion in the way that we use the net proceeds of this offering. See the section titled "Use of Proceeds" for additional information.  |
|  | We will not receive any proceeds from the sale of common stock in this offering by the selling stockholders. |

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| | |
|:---|:---|
| Risk factors | See the section titled "<u>[Risk Factors](#i2daaa9faa0b24be68f6320125a1b1051_4019)</u>" and other information included in this prospectus for a discussion of factors you should carefully consider before deciding whether to invest in our common stock. |
| Proposed Nasdaq trading symbol | "LIME" |

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The number of shares of our common stock to be outstanding after this offering is based on 57,346,145 shares of our common stock outstanding as of March 31, 2026 and reflects the Transactions (as defined below), and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 6,436,019 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $9.29 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,718,150 shares of our common stock subject to outstanding restricted stock units ("RSUs"), for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 11,674 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant (as defined elsewhere in this prospectus) outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price of $44.97 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 31,431 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $29.83 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 27,131 shares of our common stock issued after March 31, 2026 upon the exercise of a 2020 Warrant (as defined below) for an exercise price of $6.72 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 16,097,165 shares of our common stock reserved for future issuance under our 2026 Incentive Award Plan (the "2026 Plan"), which will become effective on the date immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including 6,402,594 new shares and the number of shares (i) that remain available for grant of future awards under our 2017 Stock Incentive Plan (as amended, the "2017 Plan") at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding stock-based compensation awards granted under the 2017 Plan (such awards outstanding under such plans, the "Prior Plan Awards") that expire, or are cancelled, forfeited, reacquired or withheld (including the shares withheld by us in connection with the RSU Settlement) (based upon the assumed initial public offering price of $25.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 640,259 shares of our common stock reserved for future issuance under our 2026 Employee Stock Purchase Plan (the "ESPP"), which will become effective on the date immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

Except as otherwise indicated, all information in this prospectus assumes or gives effect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the automatic conversion of all outstanding shares of our convertible preferred stock outstanding as of March 31, 2026 into an aggregate of 6,916,489 shares of our common stock, which

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conversion will occur immediately prior to the completion of this offering (collectively, the "Preferred Stock Conversion");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the net issuance of 148,748 shares of our common stock upon the automatic net exercise (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus) of the remaining 2020 Warrants outstanding as of March 31, 2026, with an exercise price of $6.72 per share, which will occur immediately prior to the completion of this offering (the "2020 Warrants Net Issuance") as more fully described under the section titled "Description of Securities";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the automatic conversion of the aggregate principal amount of $85.0 million of the 2020 Uber Note (as defined elsewhere in this prospectus) and approximately $85.0 million of the 2020 Investor Notes (as defined elsewhere in this prospectus) plus unpaid accrued interest through March 31, 2026 into 12,556,013 shares of our common stock upon the execution of the underwriting agreement related to this offering (the "2020 Notes Conversion") as more fully described under the section titled "Description of Securities";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the automatic conversion of the aggregate principal amount of $417.6 million of the 2021 Notes (as defined elsewhere in this prospectus) plus unpaid accrued interest through March 31, 2026 into 26,800,164 shares of our common stock (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus) upon the execution of the underwriting agreement related to this offering (the "2021 Notes Conversion," and together with the 2020 Notes Conversion, the "Notes Conversion") as more fully described under the section titled "Description of Securities". A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by 1,030,778 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by 1,116,677 shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the net issuance of 234,958 shares of our common stock subject to 427,197 RSUs outstanding as of March 31, 2026 under our 2017 Plan, for which the service-based and performance-based vesting conditions, as applicable, were satisfied as of March 31, 2026 and for which the performance-based vesting condition related to a liquidity event will be satisfied upon the completion of this offering, after giving effect to the withholding of an estimated 192,239 shares to satisfy our estimated tax withholding and remittance obligations of approximately $4.8 million (based upon the assumed initial public offering price of $25.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, and an assumed 45% tax withholding rate) (the "RSU Settlement"), with an equivalent number of shares as the shares that are being withheld becoming available for issuance under our 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the conversion of the Preferred Stock Warrant into a warrant to purchase 11,674 shares of our common stock (the "Preferred Warrant Conversion");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reverse stock splits effected on May 12, 2026 and June 18, 2026 with the cumulative effect of consolidating our stock at a 672-to-one ratio, with all share, option, warrant and per share information for all periods presented in this prospectus adjusted to reflect such reverse stock splits on a retroactive basis (together, the "Reverse Stock Split," and collectively with the Preferred Stock Conversion, the 2020 Warrants Net Issuance, the Notes Conversion, the RSU Settlement, and the Preferred Warrant Conversion, the "Transactions");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the adoption, filing, and effectiveness of our amended and restated certificate of incorporation and the adoption of our amended and restated bylaws, each of which will occur immediately prior to the completion of this offering;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no exercise of outstanding stock options or warrants after March 31, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no settlement of outstanding RSUs (other than pursuant to the RSU Settlement) after March 31, 2026, including no settlement of 251,238 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition will be satisfied subsequent to March 31, 2026 but prior to the completion of this offering, and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering (and which shares will be net settled in connection with this offering); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no exercise by the underwriters of their option to purchase 1,043,478 additional shares of our common stock from us in this offering.

In addition, the actual number of shares of common stock issuable in respect of the 2020 Notes Conversion and 2021 Notes Conversion will depend on accrued interest through the date of such conversion. In addition to the shares issuable upon the Note Conversions described above, an additional 92,573 shares of common stock in the case of the 2020 Notes and 526,786 shares of common stock in the case of the 2021 Notes would be issuable in respect of the additional interest accrued after March 31, 2026 but prior to the execution of the underwriting agreement related to this offering, subject to the same assumptions described above. Such additional shares are excluded from discussions elsewhere in this prospectus. A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease such additional shares of common stock issuable in the case of the 2021 Notes by 20,259 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase such additional shares of common stock issuable in the case of the 2021 Notes by 21,947 shares.

The assumed 45% tax withholding rate used in this prospectus is an assumed blended withholding rate for RSUs that are expected to net settle. The actual tax withholding and remittance obligations may differ due to, among other things, the actual initial public offering price and other terms of this offering determined at pricing, actual forfeitures through the date of this prospectus, and actual tax withholding rates.

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**SUMMARY CONSOLIDATED FINANCIAL DATA**

The following tables set forth our summary consolidated financial data. The summary consolidated statements of operations data for the years ended December 31, 2023, 2024, and 2025, except for as adjusted data, have been derived from our audited consolidated financial statements included elsewhere in this prospectus. We have derived the summary consolidated statements of operations data for the three months ended March 31, 2025 and 2026 and the consolidated balance sheet data as of March 31, 2026, except for as adjusted data, from our unaudited condensed consolidated financial statements that are included elsewhere in this prospectus. We have prepared the unaudited condensed consolidated financial statements on the same basis as the audited consolidated financial statements and have included all adjustments, consisting only of normal recurring adjustments that, in management's opinion, are necessary to state fairly the information set forth in those consolidated financial statements. Our historical results are not necessarily indicative of results that may be expected in the future and our results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026 or any other period.

You should read the following summary consolidated financial data in conjunction with the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included elsewhere in this prospectus. The summary

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consolidated financial data in this section are not intended to replace, and are qualified in their entirety by, the consolidated financial statements and related notes.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** | ***(in thousands, except share and per share amounts)*** |
| Revenue | $521983 | $686630 | $886719 | $129015 | $170150 |
| Cost of revenue<sup>(1)</sup> | 352778 | 405557 | 541272 | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 | 28885 | 44591 |
| Costs and expenses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales, general and administrative<sup>(1)</sup> | 114183 | 143726 | 169460 | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(1)</sup> | 42642 | 48937 | 51636 | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(1)</sup> | 37004 | 41441 | 53950 | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 | 60307 | 73623 |
| Operating income (loss) | (24624) | 46969 | 70401 | (31422) | (29032) |
| Interest expense | (23140) | (20282) | (20626) | (5123) | (5159) |
| Other expense, net | (68511) | (56204) | (99005) | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) | (53627) | (59430) |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | $(14.12) | $(3.73) | $(6.14) | $(5.94) | $(6.05) |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | 8665404 | 9083410 | 9662078 | 9415875 | 10131980 |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted net income (loss) per share attributable to common stockholders, basic (unaudited)<sup>(3)</sup> |  |  | $1.14 |  | $(0.95) |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (unaudited) <sup>(3)</sup> |  |  | 52787662 |  | 56275559 |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted net income (loss) per share attributable to common stockholders, diluted (unaudited)<sup>(3)</sup> |  |  | $1.03 |  | $(0.95) |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (unaudited) <sup>(3)</sup> |  |  | 58533812 |  | 56275559 |

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_________________

(1)Includes stock-based compensation expense as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $58 | $36 | $28 | $9 | $5 |
| Sales, general and administrative | 5474 | 5840 | 5888 | 1588 | 1706 |
| Operations and support | 1550 | 1697 | 1177 | 372 | 194 |
| Research and development | 4403 | 4235 | 4105 | 1183 | 737 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 | $3152 | $2642 |

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(2)See <u>[Note 16](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> to our audited consolidated financial statements and <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[14](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> to our unaudited condensed consolidated financial statements included elsewhere in this prospectus for an explanation of the calculations of our basic and diluted net loss per common share, and the weighted-average number of shares used in the computation of the per share amounts.

(3)The unaudited as adjusted basic and diluted net loss per share have been prepared to give effect to (i) the Transactions and (ii) the settlement of the partial recourse promissory notes. The numerator in the as adjusted basic and diluted net loss per common share calculation has been adjusted to remove the gains or losses resulting from the remeasurement of the Preferred Stock Warrant and the 2021 Notes as well as the interest expense related to the 2020 Notes.

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| | | | |
|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| | **Actual**  | **As Adjusted**<sup>(2)(3)</sup> | **As Further Adjusted**<sup>(3)(4)</sup>  |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| **Consolidated Balance Sheet Data**:  | | | |
| Cash and cash equivalents | $261302 | $261302 | $290713 |
| Working capital<sup>(1)</sup> | (529012) | 149116 | 289915 |
| Term loan, current | 114244 | 114244 |  |
| 2020 Notes | 209646 |  |  |
| 2021 Notes, current | 682934 |  |  |
| Convertible preferred stock | 114027 |  |  |
| Additional paid-in capital | 248669 | 1269816 | 1411370 |
| Accumulated deficit | (806462) | (825698) | (826454) |
| Total stockholders' equity (deficit) | (565713) | 436203 | 577002 |

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(1)Working capital is defined as current assets less current liabilities.

(2)The as adjusted consolidated balance sheet data gives effect to (i) the Transactions and (ii) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering.

(3)The as further adjusted consolidated balance sheet data gives effect to (i) the items included in footnote (2) above, (ii) the issuance and sale of 6,679,791 shares of common stock by us in this offering at an assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, and (iii) the application of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan, and to satisfy tax withholding and remittance obligations related to the RSU Settlement of approximately $4.8 million, based on the assumed initial public offering price of $25.00 per share of common stock, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, and an assumed 45% tax withholding rate as described in the section titled "Use of Proceeds."

(4)Each $1.00 increase or decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital and total

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stockholders' equity by approximately $6.2 million, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million shares of common stock offered by us would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital and total stockholders' equity by approximately $23.3 million, assuming that the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. The as further adjusted information is illustrative only, and we will adjust this information based on the actual initial public offering price and other terms of this offering determined at pricing.

**Non-GAAP Financial Measures**

The following table summarizes certain financial measures that are not calculated and presented in accordance with GAAP ("non-GAAP financial measures"), along with the most directly comparable GAAP measure, for each period presented below. In addition to our results determined in accordance with GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance. We use the following GAAP and non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** |
| Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| Adjusted EBITDA<sup>(1)(2)</sup> | $99844 | $153412 | $218126 | $2135 | $7481 |
| Gross profit | $169205 | $281073 | $345447 | $28885 | $44591 |
| Adjusted Gross Profit<sup>(1)(3)</sup> | $276270 | $368556 | $467152 | $56470 | $74203 |
| Gross margin (as a percentage of revenue) | 32.4% | 40.9% | 39.0% | 22.4% | 26.2% |
| Adjusted Gross Margin (as a percentage of revenue)<sup>(1)(3)</sup> | 52.9% | 53.7% | 52.7% | 43.8% | 43.6% |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| Free Cash Flow<sup>(1)(4)</sup> | $1071 | $47301 | $103788 | $(72154) | $(79191) |

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(1)Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin and Free Cash Flow are non-GAAP financial measures. For more information regarding our use of these measures and reconciliations to the most directly comparable financial measures calculated in accordance with GAAP, see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

(2)Adjusted EBITDA is defined as net loss excluding interest expense, provision for income tax, depreciation and amortization, stock-based compensation, other expense, net, loss on vehicle asset disposals and market closure costs.

(3)Adjusted Gross Profit is defined as gross profit excluding depreciation and amortization.

(4)Free Cash Flow is defined as net cash provided by operating activities excluding capital expenditures for vehicle and non-vehicle assets.

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**RISK FACTORS**

*Investing in our common stock involves a high degree of risk. You should carefully consider the risks and uncertainties described below, together with all of the other information in this prospectus, including the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes, before making a decision to invest in our common stock. Our business, financial condition, results of operations, and prospects could also be harmed by risks and uncertainties not currently known to us or that we currently do not believe are material. If any of the risks actually occur, our business, financial condition, results of operations, and prospects could be adversely affected. In that event, the market price of our common stock could decline, and you could lose part or all of your investment.* 

**Risks Related to Our Business and Industry** 

***Our limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter.***

We have been focused on shared micromobility since 2017, and our business continues to evolve. We regularly expand our offerings and pricing plans. This relatively limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we may encounter. These risks and challenges include, but are not limited to, our ability to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• make operating decisions and evaluate our future prospects in light of uncertainties and unknown or future business trends and factors that could significantly impact our business or cause us to alter our existing plans for the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• forecast financial performance, allocate resources for future growth, establish sufficient loss reserves, and manage costs effectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• comply with highly fragmented and evolving laws and regulations applicable to our business, including our ability to comply with requirements of existing permits or to obtain new permits to operate in a given city;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• attract and retain qualified logistics providers and engage contingent workers to support fleet operations as demand fluctuates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• hire, integrate, and retain talented employees at all levels of our organization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• manage, grow, and staff international operations, including in countries in which employees are or may become part of labor unions, work councils, or collective bargaining agreements and challenges relating to work stoppages or slowdowns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• attract new and retain existing riders and deliver high fleet availability in a cost-effective manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• develop, design, and contract manufacture vehicles that are safe to ride and meet rider preferences, and regulatory requirements in a cost-effective manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• plan for and manage capital expenditures for our current and future offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• manage our supply chain and supplier relationships related to our current and future offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipate and respond to macroeconomic changes and changes in the cities<sup>3</sup> in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• maintain and enhance the value of our reputation and brand;

<sup>3</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• effectively manage our growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• continue to expand our geographic reach; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• successfully develop new offerings, vehicles, and other features to enhance vehicle quality, improve safety, encourage proper use, and enhance the experience of riders.

If we fail to successfully address the risks and difficulties that we face, including those associated with the challenges listed above as well as those described elsewhere in this "Risk Factors" section, our business, financial condition, results of operations, and prospects would be adversely affected. Further, because we have limited historical financial data and operate in a rapidly evolving, nascent industry, any predictions about our future revenue and expenses may not be as accurate as they would be if we had a longer operating history or operated in a more predictable industry. We have encountered in the past, and will encounter in the future, risks and uncertainties frequently experienced by growing companies with limited operating histories in rapidly changing industries. If our assumptions regarding these risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully, our financial performance could differ materially from our expectations and our business, financial condition, results of operations, and prospects could be adversely affected. If we fail to meet or exceed such expectations, the market price of our stock could fall substantially, and we could face costly litigation, including, for example, securities class action suits.

***We have a history of net losses and we may not be able to achieve or maintain profitability in the future.***

We have incurred net losses each year since our inception and we may not be able to achieve or maintain profitability in the future. We incurred net losses of $122.4 million, $33.9 million, $59.3 million and $61.3 million in 2023, 2024, 2025, and the three months ended March 31, 2026, respectively. Our expenses will likely increase in the future as we expand in existing and new cities, increase our sales and marketing efforts, develop and launch new offerings, and continue to invest in our business. These efforts may be more costly than we expect and may not result in increased revenue, profitability, or growth in our business. Our offerings require significant capital investments and recurring costs and expenses, including maintenance, depreciation, asset life, and asset replacement costs, and if we are not able to maintain sufficient levels of utilization of such assets or such offerings are otherwise not successful, our investments may not generate sufficient returns and our business, financial condition, results of operations, and prospects may be adversely affected. Any failure to increase our revenue sufficiently to keep pace with our investments and other costs and expenses could prevent us from achieving or maintaining profitability or positive cash flow on a consistent basis. If we are unable to successfully address these risks and challenges as we encounter them, our business, financial condition, results of operations, and prospects may be adversely affected.

***Our revenue growth rate and financial performance in recent periods may not be indicative of future performance and such revenue growth rate may slow over time.***

We have grown rapidly over the last several years, and therefore, our recent revenue growth rate and financial performance should not be considered indicative of our future performance. In 2023, 2024, and 2025, our revenue was $522.0 million, $686.6 million, and $886.7 million, respectively, representing 31.5%, and 29.1% growth year-over-year. In the three months ended March 31, 2025 and March 31, 2026, our revenue was $129.0 million and $170.2 million, respectively, representing 31.9% growth year-over-year. You should not rely on our revenue for any previous quarterly or annual period as any indication of our revenue or revenue growth to be expected in future periods. Our revenue growth rate may decline in future periods due to a number of reasons, which may include slowing demand for our offerings, increasing competition, a decrease in the growth of our overall market or market saturation, and our failure to capitalize on growth opportunities. If we are unable to generate adequate revenue growth and manage our expenses, we may continue to incur significant losses in the future, may not be able to

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achieve or maintain profitability and our business, financial condition, results of operations, and prospects could be adversely affected.

***If we fail to effectively manage or continue our growth, our business, financial condition, results of operations, and prospects could be adversely affected.***

Since 2017, we have experienced rapid growth in our business, increased rider engagement with our offerings, and expanded our geographic reach, and while we expect to continue to experience growth in the future, we may fail to effectively manage such growth or continue to grow at the same historical pace. For example, our Monthly Active Users ("MAU"), which we define as the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period, grew 19% and 21% year-over-year in 2024 and 2025, respectively. This growth has placed, and may continue to place, significant demands on our management and our operational and financial infrastructure. Our ability to manage our growth effectively and to expand our fleet in existing cities and expand into new cities and countries, increase rider adoption and engagement, and integrate new technologies and acquisitions into our existing business will require us to continue to expand our operational and financial infrastructure, to invest more in our fleet and to continue to retain, attract, train, motivate and manage employees and obtain contingent workers at times of peak or increased demand. If we are unsuccessful at continuing this expansion, investment, and focus on managing our growth, the quality of our offerings could suffer, which could adversely affect our reputation and brand. Further, continued rapid growth could strain our ability to develop and improve our operational, financial, and management controls, enhance our reporting systems and procedures, obtain enough new vehicles and maintain our current vehicles to meet demand, recruit, train, and retain highly skilled employees, obtain contingent workers, and maintain rider satisfaction and regulatory compliance. Any strain on our ability to execute on these processes and goals could hinder our ability to successfully execute on our growth strategies and our ability to continue to grow our business. Further, if we do not effectively manage the growth of our business and operations, the quality of our offerings could suffer, which could adversely affect our reputation and brand, business, financial condition, results of operations, and prospects.

***Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects.***

Almost all of the cities in which we operate and seek to operate require a permit issued by the city. Securing permits is a necessary gateway to market entry into and continued operations in a city, and our growth depends on our ability to continue to secure permits. We have been unsuccessful in the past, and may be unsuccessful in the future, in competing for and securing permits. The majority of permits are secured following a competitive bidding process administered by cities via a "request for proposal" where typically one to three operators are selected by the city for a defined operating period. The request for proposal varies in complexity depending on the city, the sophistication of the shared micromobility program requested by the city and population density, transportation infrastructure, and local policy priorities of each city, and can address topics such as vehicle mode, fleet size, operating zones, parking rules, specific vehicle requirements, helmet use, other safety requirements, and insurance. These may include requirements that we cannot meet. Obtaining permits through the bidding process requires significant investment in fleet development, operations, policy management, an understanding of the applicable regulatory requirements, city knowledge, and relationship-building with decision-makers. In many cases, the permitting regime in a single city is multi-jurisdictional and operating in that city may require separate permits from multiple sub-jurisdictions within that city, such as municipalities, suburbs, boroughs, districts, or counties, each of which may have its own processes and requirements. These requests for proposal processes can be highly competitive, time-consuming and expensive, without any assurance that a city will select us as an operator, and failure to win or renew a permit in that city could harm our ability to sustain or grow our business.

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Our ability to compete effectively and secure a permit in these processes may be constrained by political and other factors unrelated to the viability of our offerings. Further, even if we are initially successful in securing a permit for a city, other unsuccessful bidders have in the past and may in the future challenge the results by lodging bid protests with the city which can divert resources, delay the commencement of our operations in that city, or, if we were initially successful in the bid process, result in loss of our permit. In certain situations, we may obtain a permit from another operator in the city, but terms of the permit may limit or exclude transferability and we have in the past and may in the future not be successful in executing on the transfer.

Certain terms imposed by a city in the request for proposal, including the scope of operators that may participate in the bidding process, may make it difficult for us to enter new cities or make it economically unattractive to operate in those cities. For example, some cities have implemented a blind auction component to their request for proposal process, and in those cities, competitors may bid aggressively to secure the permit, and our strategy to prioritize economic viability could limit our ability to secure a permit and operate in that city. We have chosen, and may choose to in the future, to not compete in requests for proposals in certain cities.

Deciding on the cities in which we operate and seek to operate involves judgment regarding the economic viability and the applicable regulatory and political environment of such cities. We may operate and seek to operate in cities that later prove to be less favorable than expected, or fail to prioritize cities with more favorable opportunities. We have in the past and may choose to discontinue operations in a city and/or not apply to renew a permit if we decide that the economic prospects of operating in a city no longer make it viable to do so, including in cases where the terms of the renewed permit are not as economically attractive as the terms of the prior permit. Permits are generally granted for limited durations, which varies by city, and typically must be renewed. Although some permits are renewed through an automatic extension, other permits require a separate renewal process specific to that city, which is akin to obtaining a new permit through a competitive request for proposal process. In addition, cities may reduce the number of operators for the permit renewal process, sometimes to a single operator, which reduces the chances that we may win a renewal, even if we were previously operating in such city.

Our growth also depends on our ability to secure increases in the authorized size of our fleet ("fleet caps") under existing permits during the operating period or at the time of renewal. Certain permits have fleet utilization and permit compliance as key factors in allowing increases of fleet caps under an existing permit. While we have historically successfully increased fleet caps through this process in many of the cities we have operated in, we may not be as successful in the future.

Even if we are granted permit renewals, some permits could be renewed on terms that are less favorable than those in the originally granted permit due to competition, fleet utilization, or other factors. For example, we have in the past secured permit renewals with a decrease to the fleet caps in the city, including as a result of a reallocation of total fleet cap for the city to a new operator entering the city.

If we are not successful in utilizing and expanding our fleet, rider adoption, and the number of trips taken with us may decrease. Lower levels of ridership may limit the data available to us to effectively forecast demand, reduce vehicle utilization, and impair our ability to meet permit requirements or secure fleet cap expansions. Failure to secure fleet cap increases could prevent planned expansions in existing cities, which would impact our ability to grow our business and adversely affect our business, financial condition, results of operations, and prospects.

As the requirements put forth by a city in the request for proposal vary and are weighted differently depending on the specific concerns of the particular city, we depend on dedicated government relations teams to advise on local concerns and cultivate partnerships with city decision-makers. If our government relations team is unable to build effective partnerships with cities, or is unable to demonstrate how our offerings can be adapted to address the specific local concerns and regulatory requirements of a

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particular city, our ability to secure or renew the permits to operate and expand our business, financial condition, results of operations, and prospects may be adversely affected.

***Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects.***

Upon securing a permit and commencing operations in a city, compliance with the terms of the permit is a critical factor in maintaining the permit and increasing the likelihood of permit renewal. Cities have broad discretion in assessing our compliance with the terms of the permits, and can also revise the permit requirements during the operating period. In addition, certain of our permits include a phase-in approach, where we agree to implement certain features or offerings over time. We may not be able to evolve our offerings in compliance with such dynamic requirements of permits. For example, the terms of our permit in Chicago require that we phase-in certain technology to detect sidewalk riding and we experienced delays in rolling out such features. If cities determine that our operations are not in compliance with their requirements, as they have in the past, or revise requirements that result in our operations being out of compliance with the permit, we may not be allowed to continue to operate under the existing permit and/or we may not be successful in renewing our permit to operate, and we may be subject to fines or penalties and may need to abruptly cease our offerings to riders in that city, and our reputation, business, financial condition, results of operations, and prospects could be significantly harmed.

In addition to complying with the terms of a given permit, we are required to comply with additional and evolving regulations from local, regional, federal and foreign authorities. These may include hardware specifications regarding the size, weight, acceleration, maximum speed, braking distance, lighting, control systems, and electrical safety standards, as well as regulations related to battery safety, charging, storage, and safe handling of our vehicles or the components, or other regulations related to consumer safety like identity verification, all of which may vary by city. For example, Washington, D.C. recently introduced an age verification requirement to address the city's concerns with the reckless behavior of youths, which resulted in the need for us to implement new age verification technology on a rapid basis to respond to the new regulations. While we endeavor to operate in a manner that complies with permit and regulatory requirements of a given city and subsequent changes to such requirements, failure to comply with any of the requirements has in the past and may in the future result in adverse consequences, depending on the terms of the permit. These consequences could include fines or other penalties, limits on the use of our offerings in certain areas, or imposing other restrictions that may affect the availability of our offerings for an extended period of time or indefinitely. The terms of many of our permits also allow the city to unilaterally suspend or revoke our permit to operate with or without cause. Our offerings and vehicles could also be subject to reclassification by the city which could result in costly re-design or recall of our vehicles in the relevant markets. If we fail to retain a permit, or if a permit is unilaterally revoked, whether due to reasons that are within our control or for reasons that are outside of our control, such as a city revoking our permit without cause, an insurance carrier canceling our policies, or rider behavior failing to follow city regulations resulting in noncompliance of our permit requirements, we could be forced to shut down our existing operations in that city or forego planned expansions into new cities in the region, which would impair our ability to execute on our growth strategies and adversely affect our business, financial condition, results of operations, and prospects.

Furthermore, a city may also take actions which would cause all operators, including us, to withdraw and cease part or all shared micromobility operations in that city. For example, in 2024 permits of all e-scooter operators in Madrid, including us, were revoked by the city, and in 2023 the mayor of Paris called a referendum the result of which caused all e-scooter operators in Paris, including us, to withdraw and cease operations. Cities may also undertake actions that limit shared micromobility programs. For example, in October 2025 the city of Prague adopted a new measure that prohibited shared e-scooters from being parked anywhere in the city, which became effective in January 2026. In these situations, we have historically been allowed to continue operating e-bikes in the city.

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The foregoing risks are heightened in our concentrated markets where we generate a disproportionate share of our revenue. Unfavorable permitting actions by cities in these markets, such as adverse changes to permit terms, stricter enforcement, non-renewal, suspension, or program cessation, could have a material and adverse impact on our business, financial condition, results of operations, and prospects. Reputational issues arising in a city or cities within a concentrated market may also influence permitting or renewal decisions or trigger regulatory actions in adjacent cities, magnifying the effect.

***Our operations have historically varied from period-to-period and are seasonal and dependent on weather. Our financial performance in certain periods may not be indicative of, or comparable to, our financial performance in subsequent periods.***

Our financial results have historically varied from period-to-period and we expect that our financial results will continue to do so due to, among other things, long-term seasonality trends such as seasonal variations in travel patterns of riders, timing of our capital expenditures, short-term changes in demand due to varying, bad or extreme weather conditions or forecasts, with higher sensitivity to adverse weather (such as unexpected and/or prolonged periods of rain, hurricanes, thunderstorms, or hail during peak periods), fluctuations in demand for offerings over holiday periods and during other seasonal events, general economic conditions, and other reasons that are difficult to predict. In the majority of cities in which we operate, rider demand typically increases during the warmer and drier months in the second and third quarters and typically decreases during the colder and wetter months in the first and fourth quarters. Our revenue generally peaks in the second and third quarters whereas a majority of our capital expenditures occur in the fourth quarter during our hardware refresh cycle. This timing causes our cash flows to fluctuate and may strain our liquidity resources and impact our ability to pay unexpected expenses. Any inability to meet the heightened demand during our peak quarters, to reduce operating costs (including by effectively adjusting our labor needs) or pay for unexpected expenses during periods of low demand, or to adequately manage our cash flows in the fourth and first quarter could adversely impact our business, financial condition, results of operations, and cash flows.

While we seek to manage seasonal increases in demand by increasing our available fleet and service providers in the periods leading up to and during peak periods, we may not be successful. The risks associated with our seasonality could be increased with our entrance into new cities with unfavorable weather patterns, new seasonal trends or existing seasonal trends becoming more extreme, including as a result of climate change or otherwise, which could contribute to further fluctuations in our results of operations.

Bad weather, and forecasts of bad weather, on weekends, holidays, or other peak periods, bad weather patterns that affect a large geographical area in which we have operations, sustained bad weather patterns, and/or extreme weather events, all of which may be a result of climate change, have in the past and may in the future adversely impact the use of our vehicles, which would typically have a greater negative impact on our revenue and could disproportionately impact our results of operations.

Further, because our results of operations may vary significantly from quarter-to-quarter and year-to-year, the results of any one period should not be relied upon as an indication of future performance. Fluctuations in our results of operations may cause such results to fall below the financial guidance or other projections that we may provide to the public, or the expectations of our investors or the analysts that cover us for a particular period, which could cause the trading price of our common stock to decline and could adversely impact our business, financial condition, results of operations, and prospects.

***If the shared micromobility industry does not continue to grow, grows more slowly than we expect, or fails to grow as large or otherwise develop as we expect, our business, financial condition, results of operations, and prospects could be adversely affected.***

The shared micromobility industry has grown rapidly since we launched our business in 2017, but it is still relatively new, and it is uncertain whether market acceptance will continue to grow, stay the same, or contract. Our success will depend on a number of factors, including the willingness of consumers to

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widely adopt shared e-scooters and e-bikes across a variety of use cases, changes in consumer demographics or preferences, the regulatory environment, and general economic conditions, particularly those adversely affecting discretionary consumer spending. If the public or city officials do not perceive shared micromobility offerings as beneficial, or choose not to adopt them as a result of concerns regarding safety, impact on public spaces, longer-term behavioral and social shifts, or for other reasons, whether as a result of incidents involving our vehicles or our competitors' vehicles or otherwise, then the market for our offerings may not further develop, may develop more slowly than we expect, or may not achieve the growth potential we expect, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***We face intense competition and we may not be able to compete effectively, which could adversely affect our business, financial condition, results of operations, and prospects.***

The shared micromobility industry in which we operate is intensely competitive. We compete on a global basis, and the markets in which we compete are highly fragmented. We face significant competition from existing, well-established alternatives, and in the future we expect to face new competition from market entrants. In addition, consumers have a propensity to shift to the lowest-cost or highest-quality provider, and the cost to switch between providers is low. Consumer preferences are dynamic and may shift away from shared micromobility toward alternative modes of transportation. Further, while we work to expand globally and introduce new offerings, many of our competitors remain focused on a limited number of offerings or on a narrow geographic scope, allowing them to become more well-established in specific cities and employ resources in a more targeted manner. If we fail to compete effectively on price, performance, quality, safety and availability, if our brand or reputation is harmed, or if we are unable to differentiate our offerings from our competitors, we could lose market share to our competitors, which could adversely affect our business, financial condition, results of operations, and prospects.

Within the shared micromobility industry, we primarily face competition from other shared micromobility operators, such as Bird (and Spin, which is wholly-owned by Bird), Bolt, Neuron Mobility (merged with Beam Mobility), Voi Technology, Dott (including its predecessor Tier Mobility), and HelloRide, among others, regional and local operators, subsidized municipal operators, and docked solutions operators such as those operated by Lyft. We also compete with other types or modes of transportation in a city, including traditional taxi services, public transportation, walking, and ridesharing platforms, including the emergence of autonomous vehicle platforms. Shifts in consumer preferences across these types or modes may reduce demand for shared micromobility and our vehicles in particular. We compete on a number of factors, including scale and size of our fleet and operational footprint, technology-enabled hardware and software features, the robustness, reliability, vehicle quality, safety, and comfort of our vehicles, government relationships, brand recognition, convenience, reputation, and pricing. We anticipate continued challenges from current competitors as well as from new entrants into the shared micromobility industry.

Certain of our competitors and potential competitors may have greater financial, technical, marketing, research and development, manufacturing and other resources, stronger name recognition, longer operating histories, a larger rider base, lower prices, or more supportive regulatory regimes than we do, which may be especially relevant in a particular market. They may have existing relationships or other advantages in specific cities, which could impact our ability to obtain permits in those cities. They may be able to devote greater resources to the development, promotion, and sale of services and offer lower prices and/or financial incentives in a particular market; or they may be able to anticipate and respond more quickly or effectively to evolving consumer preferences, including offering discounted services, consumer discounts and promotions, and alternative pricing plans, which may be more attractive to consumers than those that we offer. They may have greater resources to deploy towards the research, development, and commercialization of new technologies, including autonomous vehicle technology, or they may have other financial, technical, or resource advantages. Their vehicles may score better in permit proposals than our vehicles due to the use of newer or more advanced technology. They may also be able to manufacture vehicles at a lower cost than we are able to. In addition, competitors may share in

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the effective benefit of any regulatory or governmental approvals and litigation victories we may achieve, without having to incur the costs we have incurred to obtain such benefits. Our competitors may also establish cooperative or strategic relationships, or consolidate, among themselves or with local governments and other third parties that may further enhance their resources and services in any market. Our inability to compete effectively would harm our business, financial condition, results of operations, and prospects.

***Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects.***

As of December 31, 2025, we operate in approximately 230 cities across 29 countries. The regulatory framework governing the shared micromobility industry is nascent, rapidly evolving, and varies widely by market. We are subject to a variety of laws and regulations in the United States and in foreign jurisdictions, that are continuously evolving and developing and are costly to comply with, can require significant management time and effort, and can subject us to regulatory scrutiny, litigation or other claims for alleged non-compliance. In addition, regulatory schemes regarding issues related to our business model have been proposed before or have been adopted by various national, regional, and local legislative bodies and regulatory entities, both within the United States and in foreign jurisdictions. For example, in the United Kingdom, on April 29, 2026 the English Devolution and Community Empowerment Bill was passed, which augmented the powers of municipal councils and other regional bodies, such as Transport for London, to license and regulate shared micromobility schemes.

Laws, regulations, and industry standards governing matters such as vehicle design and classification, e-scooter and e-bike sharing, safe handling and practices regarding lithium-ion batteries, consumer protection, product liability, artificial intelligence ("AI"), labor and employment, data privacy, cybersecurity, environmental, health and safety, electric vehicles, among others, are often complex and subject to varying interpretations, in many cases due to their lack of specificity. Many of these regimes are newly applied to the shared micromobility industry and lack established precedent or clear guidance. As a result, their application in practice may change or develop over time through judicial decisions or as new guidance or interpretations are provided by regulatory and governing bodies, such as federal, state, and local administrative agencies and standards bodies. We may be found not in compliance with any of these new or existing laws, regulations, standards and other governmental requirements. These obligations vary materially across markets, may be inconsistent among cities or countries and can be enforced inconsistently, resulting in a patchwork of requirements. In addition, these laws and regulations, or their interpretation, may also conflict with each other, and if we comply with the laws or regulations of one city, we may find that we are violating the laws or regulations of another city. Adverse changes in, or interpretations of, these laws and regulations could require us to cease or modify operations in certain markets, including reducing the size or scope of our fleet, limit rider access, implement changes to our technology or hardware, incur significant compliance and operating costs, change our business model or practices, or subject us to fines, penalties, injunctions, permit suspensions or revocations, or other enforcement actions. Additionally, difficulties complying with new or existing laws and regulations in concentrated markets may have a disproportionate adverse effect on our business.

In the event our offerings are restricted, in whole or in part, or other restrictions are imposed on our offerings, or our competitors are able to successfully penetrate new cities or countries or capture a greater share of existing cities or countries that we cannot access or where we face other restrictions, our ability to retain or increase our rider base and rider engagement may be adversely affected, we may not be able to maintain or grow our revenue as anticipated, and our business, financial condition, results of operations, and prospects would be adversely affected.

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***Any impairment of our ability to provide a sufficient number of safe and reliable vehicles at the times and locations riders expect would undermine our network effect and adversely affect our revenue, business, financial condition, results of operations, and prospects.***

Our success in a given market significantly depends on our ability to provide a sufficient number of vehicles that are safe and reliable for riders. A number of factors affect our ability to deliver our fleet, including, among other factors, our ability to obtain and maintain permits to operate in a given city, and comply with applicable regulations; our ability to maintain the performance of our vehicles, including at satisfactory battery levels; our ability to accurately predict rider demand and reposition vehicles to those locations; our ability to manage our supply chain; and our ability to protect our fleet from vandalism, theft and destruction. Availability and reliability are primary drivers of our growth, and if we fail to execute our operations successfully, the growth of our business may be harmed. We have in the past and may in the future experience issues related to the deployment and repositioning of our fleet in a manner that meets rider demand, our technology and algorithms, the maintenance of our vehicles, labor shortages, and the manufacturing of our vehicles, any of which may adversely affect our vehicle availability.

An insufficient number of serviceable vehicles in a given city or market would result in missed market opportunities, diminish the rider experience, reduce the trip and telemetry data that we use to enhance our platform intelligence and demand forecasting, and harm our reputation, any of which would decrease our network effect and weaken our financial performance. In addition, the unavailability of our fleet could impair our ability to satisfy the service-level commitments required under many of our permits, and we could be subject to fines and penalties, reduced fleet allocations during permit renewals, or permit suspensions or revocations.

If our service quality diminishes or our competitors' products achieve greater market adoption, our competitors may be able to grow more quickly than we do or capture a larger market share, which would adversely affect our revenue, business, financial condition, results of operations, and prospects.

***Any actual or perceived cybersecurity breach or incident could interrupt our operations, harm our brand and adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.***

We and certain of our third-party providers collect, store, transmit, and otherwise process personal data and other sensitive data from our riders and members of our workforce. Additionally, we and certain of our third-party providers maintain other confidential, proprietary, or otherwise sensitive information relating to our business, including intellectual property, and similar information received from third parties.

We face numerous and evolving cybersecurity risks that threaten the confidentiality, integrity, and availability of our systems from diverse threat actors, such as state-sponsored organizations, opportunistic hackers, and hacktivists. Such threat actors may gain unauthorized access to our systems or facilities or those of our workforce, partners, logistics providers, contingent workers, riders, or others through various means, including malware (including ransomware), malfeasance by insiders, human or technological error, bugs, other vulnerabilities. They may also attempt to fraudulently induce our workforce, partners, logistics providers, contingent workers, riders, or others into disclosing rider names, passwords, payment card information, trip and location data, or other sensitive information, resulting in the fraudulent transfer of funds to criminal actors.

We make extensive use of third-party suppliers and service providers, such as cloud services that support our internal and consumer-facing operations, and may have limited insight into the data privacy or cybersecurity practices of such third-party suppliers and service providers. Even if our own cybersecurity measures remain intact, cyberattacks, data breaches, cybersecurity incidents, malicious Internet-based activities, or other incidents or failures that disrupt or result in unauthorized access to third-party information technology systems can materially impact our systems, operations and financial results. In such circumstances, we may not receive timely notice of, or sufficient information about, the breach or other incident or failure, or we may be unable to exert any meaningful control of or influence over how

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and when the breach or other incident or failure is addressed. Any theft, loss, or misappropriation of, or unauthorized access to, riders' or other proprietary, confidential, or sensitive information, or other breach of our information technology systems or those of our third-party suppliers and service providers could disrupt our operations, damage our reputation, result in fines, legal claims, proceedings (including regulatory investigations and actions), or liability for failure to comply with data privacy and cybersecurity laws, or otherwise result in loss of revenue, fraudulent transactions, loss of riders, transaction errors, processing inefficiencies, lack of service reliability, and increased costs (including costs to deploy additional personnel and protection technologies, train employees, and engage third-party experts and consultants).

In addition, our riders could have vulnerabilities on their own devices that are entirely unrelated to our systems and our platform, but could mistakenly attribute their own vulnerabilities to us. Further, breaches or other cybersecurity incidents experienced by other companies may also be leveraged against us. For example, credential stuffing attacks are common, and sophisticated actors can mask their attacks, making the source difficult to identify and difficult to prevent.

The integration of AI in our operations or offerings, and the use of AI and potentially quantum computing by criminal or other threat actors in conducting cyberattacks poses new, evolving and/or unknown cybersecurity risks and challenges. Cyberattacks are expected to accelerate on a global basis in frequency and magnitude as threat actors are becoming increasingly sophisticated in using techniques and tools that circumvent cybersecurity controls, evade detection, and remove forensic evidence. As a result, we may be unable to detect, investigate, remediate, or recover from future attacks or incidents. We continue to incur significant costs in an ongoing effort to detect and prevent cybersecurity breaches and other cybersecurity-related incidents (an expense we expect will increase as we continue to implement systems and processes designed to prevent and otherwise address cybersecurity breaches and incidents). However, we cannot guarantee the success of these measures or prevent incidents from impacting our platform. As we expand our operations, including licensing or sharing data with cities, third parties and acquiring or partnering with other companies, have employees, contractors, or third-party relationships in jurisdictions outside the United States, or continue to expand work-from-home practices of our employees, our exposure to cyberattacks, breaches, and incidents may increase.

Our information technology and infrastructure are subject to cyberattacks, breaches, and incidents, including ransomware or other malware, which have resulted in and may result in interruptions to our operations or unavailability of our platform. Further, unauthorized parties or authorized third parties may be able to access our riders' personal information and limited payment card data that are available through those systems. We may also not have the resources or technical sophistication to anticipate, prevent, respond to, or mitigate cyberattacks or cybersecurity breaches or incidents, and we may face difficulties or delays in identifying and responding to cyberattacks, breaches, and incidents.

In addition to the risks associated with the cybersecurity of our data and systems, our fleet of connected vehicles could itself be a target for cybersecurity attacks. Because our vehicles are Internet of Things ("IoT") devices that can be controlled remotely through our platform, a malicious actor who successfully breaches our systems could potentially gain operational control over a large number of vehicles. Such an attack could be used to immobilize our fleet, manipulate vehicle functions (such as braking and acceleration to create unsafe conditions for our riders), or use the vehicles' real-time location data to expose riders' personal location information. While we have implemented cybersecurity measures designed to prevent such unauthorized access or control, we cannot guarantee that these measures will be effective against future attacks. Any such event could result in serious injuries, significant legal liability, regulatory action, and a loss of rider and community trust in our service, which would harm our reputation and brand and adversely affect our business, financial condition, results of operations, and prospects.

Any actual or perceived breach or incident affecting us or other parties with which we share data or that are processing data on our behalf could (i) interrupt our operations, (ii) result in our platform being unavailable or otherwise disrupted, (iii) result in loss, alteration, unavailability or unauthorized use, disclosure or other processing of data, (iv) result in fraudulent transfer of funds, (v) harm our reputation

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and brand, (vi) damage our relationships with third-party partners and/or logistics providers, (vii) result in regulatory investigations and other proceedings, private claims, demands, litigation (including class actions) and other proceedings, (viii) result in the loss of our ability to accept credit or debit card payments, (ix) increase card processing fees, and (x) result in other significant legal, regulatory, and financial exposure, which could lead to loss of rider confidence in, or decreased use of, Lime, regulatory investigations, litigation (including regulatory enforcement and class actions), other claims, remedies such as substantial fines and/or damage awards, injunctive relief and/or consent decrees, required changes to our business model, negative media attention, and damage to our reputation, any of which could adversely affect our business, financial condition, results of operations, and prospects. Further, any cyberattacks directed toward, or breaches or incidents impacting, our competitors could reduce confidence in the shared micromobility industry as a whole and, as a result, reduce confidence in us.

In the event of a future breach or incident, we could be required to expend additional significant capital and other resources in an effort to respond to and/or prevent further breaches or incidents, which may require us to divert substantial resources and significant management attention, including retaining the services of third-party cybersecurity providers and costs associated with replacing or upgrading our information technology systems cybersecurity. Moreover, we could be required or otherwise find it appropriate to expend significant capital and other resources to respond to, notify third parties of, and otherwise address and contain the breach or incident and determine its root cause.

Additionally, defending against claims or litigation based on any actual or perceived data privacy or cybersecurity breach or incident, regardless of their merit, would be costly and divert management's attention, and we may not be successful in our defense. We cannot be certain that our insurance coverage will be adequate for such liabilities, that insurance will continue to be available to us on commercially reasonable terms, or at all, or that any insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

***Our reputation and brand in the cities in which we operate are important to our success, and if we are not able to maintain and continue developing our reputation and brand, our business, financial condition, results of operations, and prospects could be adversely affected.***

We believe that building a strong reputation and brand as a safe, reliable, and affordable service is critical to our ability to obtain and maintain permits and attract and retain riders. The successful development of our reputation and brand depends on a number of factors. Claims of accidents involving our vehicles or other causes of injury, particularly injuries involving serious injury or death, including negative publicity surrounding such events, have occurred and are likely to continue to occur. Additionally, the perception that our offerings are unsafe could harm our reputation and may make it less likely that riders would be willing to try or continue using our platform. For example, in the United Kingdom we are subject to claims that our vehicles increase the risk of leg injuries. Other complaints or negative publicity about us, our vehicles, riders, our customer support, our offerings, or our policies and guidelines could also adversely affect our reputation. For example, there have been negative articles addressing our vehicles' interference with access to public spaces or our vehicles being thrown into bodies of water. Our reputation can also be affected by public uses of our vehicles, for example, our vehicles have also been featured in photos from political demonstrations and events, such as the June 2025 Los Angeles protests. Furthermore, from time to time our vehicles are stolen, damaged or vandalized, which has led to decreased reliability and performance, which may adversely affect our reputation. Even if the negative reports are factually incorrect or based on isolated incidents, negative reports can diminish confidence in, and the use of, our offerings. In addition, non-compliance or poor operations by our competitors could lead to negative perceptions of the shared micromobility industry as a whole. If we cannot successfully address these issues and maintain and develop our brand and reputation, we may experience decreased usage by existing riders, decreased rider acquisition, reduced fleet deployment in certain cities, increased regulatory scrutiny, including revocation of permits, and increased claims or increased litigation.

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***If we are unable to successfully develop and market new offerings or make enhancements to our existing offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected.***

If we do not successfully develop, introduce, and scale new or enhanced offerings, our business, financial condition, results of operations, prospects, and competitive position could be adversely affected. Our success depends in part on our ability to design and deliver offerings that meet evolving rider preferences and regulatory expectations, including innovations in hardware, software, and operational models. While these and future enhancements are intended to improve the rider experience and operational efficiency, they may not succeed. For example, they may not achieve rider acceptance, fail to perform as expected, fail to meet permit requirements, face delays, or require greater capital expenditures than anticipated.

In order to enhance the rider experience, from time to time, we introduce new modes of vehicles, vehicle designs, features, or service formats, and we may also test pilot programs, such as our courier and delivery pilot in London. These initiatives involve significant investment and operational complexity and may not be successful. For example, we previously piloted electric mopeds in New York City, which we discontinued. Similarly, in order to improve our operations, from time to time, we may test different marketing strategies to enhance our brand visibility and rider adoption or implement other internal processes to enhance our operational efficiency, but these initiatives may not deliver the benefits we expect from our investments. Ultimately, unsuccessful experiments or delays in scaling new offerings could strain our operational resources, reduce visibility into expected revenue and profitability, and adversely affect our margins, business, financial condition, results of operations, and prospects.

Our ability to develop new offerings could also be adversely affected by changes in rider expectations, the introduction of superior competitive offerings, any deterioration in the availability, safety, reliability, or quality of our service, or regulatory barriers. New vehicle modes or models can also negatively affect the consumer perception of existing vehicle modes or models as they may replace or shorten the lifecycle of existing vehicles modes or models or be cited by claimants in litigation to suggest that prior models were less safe or reliable. If we are unable to anticipate rider demand, efficiently integrate innovations, or recover our investment in new offerings, our ability to attract and retain riders and increase utilization could be impaired, which could adversely affect our business, financial condition, results of operations, and competitive position.

For these reasons, we may not be able to develop new offerings, and such inability could have an adverse effect on, or otherwise harm, our business, financial condition, results of operations, and prospects.

***If we fail to attract and continue to work with qualified logistics providers, or ensure sufficient contingent workers, our business, financial condition, results of operations, and prospects could be adversely affected.***

Our operations rely on logistics providers and contingent workers to support the maintenance and positioning of our fleet. If we fail to attract and engage qualified and sufficient logistics providers or contingent workers on the timelines we require, or if they fail to perform as expected, our business, financial condition, results of operations, and prospects could be harmed.

Our business model relies on our ability to scale up and down our operations in keeping with anticipated rider demand for our vehicles. The availability and performance of logistics providers, contingent workers and our employees may be affected by factors such as reduced task volumes, seasonal variations, weather, changes in population demographics and immigration, competition from other companies, fluctuations in unemployment, conscription, war and conflicts in certain countries like Israel, changes in laws and regulations, or restrictions on certain duties that can be performed by such logistics providers under city permits. Any difficulty engaging qualified logistics providers, scaling up of contingent workers, or resulting from underperformance by logistics providers or contingent workers,

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could harm our ability to scale during peak seasons, meet rider demand, maintain competitive pricing, maintain our fleet, comply with the terms of permits and applicable laws and regulations, or ensure service quality. This, in turn, could adversely affect our brand, reputation, and growth. Evolving regulatory requirements and expansion into new markets may also lead to the imposition of new requirements that could increase our costs or reduce our operational flexibility. Failure to successfully meet these challenges could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

***Challenges to workforce classification and labor compliance could have adverse business, financial, tax, legal, and other consequences to our business, financial condition, results of operations, and prospects.***

Our operations rely on logistics providers and contingent workers, and any material changes to the classification of logistics providers or a finding of joint employment status for contingent workers could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

We operate in a legally complex and evolving global labor landscape, and legislative, judicial, or regulatory authorities may assert adverse interpretations of existing laws or develop new laws in ways that are inconsistent with our model. For example, in 2021, a representative action under California's Private Attorneys General Act ("PAGA") alleging misclassification and related wage-and-hour violations under what we believe was a different labor model resulted in settlements totaling approximately $8.5 million. We are and have been involved in legal proceedings globally, including putative class and collective class action litigation, demands for arbitration, charges and claims before administrative agencies, and investigations or audits by labor, social security, and tax authorities that claim that logistics providers should be treated as our employees, rather than third-party logistics providers and which we believed were previously independent contractors. If a court or regulator (including tax authorities) determines that logistics providers that we utilize are misclassified and should be classified as employees, we would be subject to the claims and actions described above. With respect to contingent workers, who are provided by staffing agencies, a court or regulator could conclude that we are a joint employer, in which case we would become subject to joint employer liability in litigation or in a regulatory action. Such findings could also result in injunctive relief, consent decrees or other governmental actions requiring us to change our business model.

Outside the United States, there is a trend for courts and regulators in countries such as France, Switzerland and Spain to reclassify individuals providing services through app-based platforms in certain circumstances as employees or quasi-employees for social security or labor law purposes. These developments have primarily focused on companies that engage individuals directly, and we believe that our model differs in that we contract with third-party logistics providers. We have been, and may in the future be, subject to classification-related inquiries and regulatory findings in some of the jurisdictions in which we operate, which have resulted in fines and associated employer social security, payroll tax and other employment-related contributions. Moreover, in certain countries such as Spain, companies in the micromobility industry, including us, have been required to maintain a minimum number of full-time employees in certain operational roles.

Reclassification of logistics providers as employees or joint employer status for contingent workers would also subject us to additional obligations and potential liabilities at significant additional cost under wage-and-hour laws, and for employee benefits, social security contributions, taxes, unemployment insurance, worker's compensation, and other labor-related obligations.

Courts or regulators could also characterize our relationships with logistics providers as franchise arrangements, subjecting us to additional statutory requirements, penalties, and compliance burdens that could increase our costs and reduce our contractual flexibility by, for example, limiting our ability to modify or terminate service provider agreements.

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Even if we prevail in defending our operational model of engaging logistics providers and contingent workers, in threatened or actual legal proceedings or regulatory actions, it could be costly, divert management attention, and adversely affect our reputation. Any of the above efforts, successful or otherwise, to reclassify logistics providers as employees or find joint liability for contingent workers could require us to change our business model, which could have a significant adverse effect on our business, financial condition, results of operations, and prospects.

***We often rely on logistics providers and contingent workers, and any difficulties in these arrangements could adversely impact our business, financial condition, results of operations, and prospects.***

We rely on logistics providers and contingent workers to support the maintenance and positioning of our fleet and the logistics of our operations. We cannot control all of the factors that may affect the quality or reliability of these services, including our lack of day-to-day control over the activities of third-party logistics providers, the risk that such providers may not fulfill their obligations to us, or follow the rules and regulations of the cities in which we operate, or may otherwise fail to meet expectations, and that such providers may terminate their arrangements with us on limited or no notice.

Because these logistics providers operate in the field and interact directly with the public, any conflicts, incidents, or altercations involving these service providers could result in litigation, regulatory scrutiny, negative publicity, or reputational harm to us, even where these are outside of our control. In addition, these logistics providers are also subject to state, federal, foreign, and other regulations, and any failure by them to comply with applicable requirements could cause us financial or reputational harm.

We are also dependent on the availability and performance of qualified logistics providers and contingent workers, in particular to scale our operations during times of peak demand. A shortage of qualified logistics providers or contingent workers, or underperformance by existing providers, due to reasons described elsewhere in this Risk Factors section could impair our ability to maintain our fleet and meet rider demand, among other things, which could in turn impact the rider experience and adversely affect our brand and operations.

Our financial performance results of operations, and prospects are dependent on the performance of these logistics providers. If we fail to attract and retain qualified and sufficient logistics providers, or if they fail to perform as expected, our business, financial condition, results of operations, and prospects could be harmed.

***If we are unable to effectively manage the growth of and relationships with our workforce and operations across different labor models, our business, financial condition, results of operations, and prospects could be adversely affected.***

Our workforce and operations have grown substantially since inception, and we expect they will continue to expand through a combination of employees, logistics providers, and contingent workers. Managing a growing, distributed and mixed labor model workforce places significant demands on our operational and financial infrastructure, and if we fail to manage that growth effectively, our reputation, brand, business, financial condition, results of operations, and prospects could be adversely affected. During periods of peak demand we particularly rely on retaining contingent workers. If an agency through which we obtain contingent workers terminated their relationship with us, we could experience a shortage of contingent workers for the period of time it would take for us to find a replacement agency. Although we would not expect it to be difficult to replace such agency relationships, this disruption could temporarily impair our ability to maintain our fleet and meet rider demand, which could in turn adversely affect our brand, business, financial condition, results of operations, and prospects.

In the United States, none of our workforce are represented by a labor union. In Europe, certain employees are represented through work councils or staff representatives, and some are covered by sectoral collective bargaining agreements that apply generally across their industry. We currently do not have any active trade union representation within our workforce. As our workforce grows, we may reach

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thresholds that require elections for employee representation bodies, though this would not necessarily result in trade union representation or company-level bargaining. Managing relationships with these organizations can be complex and may increase costs or limit flexibility in how we operate. Failure to comply with these obligations, or disputes or labor inspections arising from them, could result in financial penalties, operational delays and workforce structural changes, or reputational harm.

Attempts may be made to organize all or part of our workforce in the future. As we continue to grow, we may face increased union-organizing activity and potential regulatory changes that could make unionization efforts more likely to succeed. If some or all of our workforce were to become unionized, and the terms of the collective bargaining agreement were significantly different from our current compensation arrangements, our costs could increase and our operational flexibility could decrease. Responding to such organization attempts could divert management time and resources, and any labor actions, strikes, or disruptions could negatively affect our operations, financial performance, and growth.

Effectively managing our growth will depend on expanding our operational and financial infrastructure, scaling our workforce, and maintaining productive relationships with logistics providers and contingent workers, while preserving the beneficial aspects of our culture. Continued growth could challenge our ability to develop and improve our operational, financial, and management controls, enhance our reporting systems and procedures, and retain a highly skilled workforce. If we do not manage the growth of our business and operations effectively, the quality, reliability, safety, and efficiency of our offerings could suffer, which could adversely affect our reputation and brand, business, financial condition, results of operations, and prospects.

***If we fail to cost-effectively attract new riders, or to increase utilization of our fleet by our existing riders, business, financial condition, results of operations, and prospects could be harmed.***

Our success depends on our ability to cost-effectively attract new riders and retain existing riders in order to increase utilization of our fleet, which increases the strength of our network effect among the cities in which we operate. New and existing riders have a wide variety of options for transportation, including public transit, walking, personal vehicles, rental cars, taxis, and other ridesharing and shared micromobility offerings. Rider preferences may also change from time to time. To expand our rider base, we must appeal to new riders who have historically used other forms of transportation or other shared micromobility operators. If riders do not perceive our offerings to be safe, reliable, and affordable, or if we fail to provide new and relevant offerings and features, we may not be able to attract new riders or retain existing riders. Further, complaints and negative publicity about us and our offerings, even if factually incorrect or based on isolated incidents, may adversely affect our reputation, brand, ability to build trust with new riders or maintain trust with existing riders, and ability to enhance the intelligence of our platform. A key driver of our rider acquisition is word-of-mouth referrals and internal referral programs, which leverage existing rider satisfaction to attract new riders. If we fail to keep our existing riders satisfied with our offerings or fail to attract new riders and grow our rider base, we may lose market share to our competitors, and our network effect may be adversely affected, which in turn could adversely affect our business, financial condition, results of operations, and prospects.

***If we are unable to manage supply chain risks or disruptions affecting our vehicles or to maintain a sufficient number of reliable vehicles in operation to support our network effect, our business, financial condition, results of operations, and prospects would be adversely affected.***

Our vehicles require and rely on hardware and other component parts that we source from a limited number of third-party suppliers. The continued expansion of our fleet depends on our ability to implement and manage supply chain logistics to secure the necessary component parts to assemble, repair and/or upgrade our vehicles. A continuous, stable, and cost-effective supply of component parts that meets our standards is critical to our operations. We expect to continue to rely on external suppliers in the future. Although we have existing contractual relationships throughout our supply chain, there can be no assurance that we will be able to maintain our existing relationships with these suppliers, which would

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impact our ability to produce or repair e-scooters and e-bikes that comply with city requirements or meet rider demand.

The supply chain for our vehicles exposes us to multiple potential sources of delivery failure or shortages including, but not limited to, supply constraints resulting from geopolitical conflicts, local labor issues borne by our manufacturers and logistics providers, changes to the country of origin determinations, and changes to the tariff regime imposed based on the country of origin of Lime's products, including the supply of replacement parts, which are sourced out of Asia, including China, Cambodia, and Vietnam. Our vehicles are generally landed at a limited number of ports depending on the region, and a disruption to operations at these ports, including from extreme weather events, could delay the distribution of our vehicles to the cities in which we operate and increase our costs. In the event that the supply of key components of our vehicles is interrupted or there are significant increases in prices of such components, such as due to actual or proposed tariff increases, we may not be able to secure substitutes on reasonable terms, or at all, and our business, financial condition, results of operations, and prospects could be adversely affected. Changes in business conditions, any public health crises or pandemics, extreme weather events, force majeure, geopolitical disruptions, or governmental or regulatory changes have in the past affected and could in the future adversely affect our suppliers' ability to deliver parts and our ability to deploy our vehicles.

The prices and availability of the component parts for vehicles in our fleet may fluctuate depending on several factors including market and economic conditions, tariffs, changes to import or export regulations, and demand. For example, the market for computer memory, which is a component of our central control unit, has experienced a substantial increase in demand in 2026 which has led to increased pricing and longer lead times for this component. Substantial increases in prices of these component parts would increase our overall costs and reduce our margins, and delays in availability of these component parts would reduce our ability to deliver more vehicles to our markets, which could adversely affect our business, financial condition, results of operations, and prospects. New and changing tariffs, duties and taxes may apply in connection with the imports and exports of equipment and parts, and can adversely affect our cost structure and logistics planning. For example, changes in economic relations between the United States and China have, and may continue to result in, increased tariffs on component parts for our vehicles imported from China. Further, customs authorities have and may in the future challenge or disagree with our classifications or valuation of imports. Such challenges could result in tariff liabilities, including tariffs on past imports, as well as penalties.

We depend on a limited number of third-party supply chain and manufacturing suppliers, we have experienced and may in the future experience quality problems, product issues, or supply- or shipping-related issues for the component parts that we need to assemble, repair and/or upgrade our vehicles. Furthermore, some of our newer vehicle designs like LimeGlider may be subject to delays in parts manufacturing, and we may not be able to deploy them in time to meet rider and city demand. Any of the foregoing risks and challenges could adversely affect our business, financial condition, results of operations, and prospects.

***Our marketing efforts to help grow our business may not be effective.***

Promoting awareness of our offerings is important to our ability to grow our business and to attract new riders and can be costly. We believe that much of the growth in our rider base on Lime is attributable to our brand visibility resulting from the physical presence of our vehicles in cities, which we have no control over, and which may not continue in the future. Our growth has also benefitted from high-profile unpaid endorsements and viral marketing opportunities. Our marketing efforts focus on organic growth, including word-of-mouth referrals, internal referral programs, and community-focused campaigns, and strategic commercial partnerships. For instance, in some cities we have partnered with Google, integrating our vehicle availability directly into Google Maps to help consumers discover Lime when getting directions. If we are unable to continue to keep our marketing initiatives cost-efficient or our marketing efforts are not successful in promoting awareness of our offerings or attracting riders, our business, financial condition, results of operations, and prospects could be adversely affected. If our

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marketing efforts are successful in increasing awareness of our offerings, this could also lead to increased public scrutiny of our business and increase the likelihood of third parties bringing legal proceedings against us. Any of the foregoing risks could harm our business, financial condition, results of operations, and prospects.

***A significant portion of rides taken on Lime are concentrated in a relatively small number of markets in which we operate. The loss or decline of one or more of those cities could adversely affect our revenue, business, financial condition, results of operations, and prospects.***

A significant portion of rides taken on Lime are concentrated in a relatively small number of markets in which we operate. For example, we derived approximately 15.2%, 20.8%, 22.2% and 23.1% of our revenue for the years ended December 31, 2023, 2024, and 2025, and the three months ended March 31, 2026, respectively, from the United Kingdom. While our revenue is generally diversely distributed across the approximately 230 cities in which we operate, our results of operations can be sensitive to developments in the concentrated markets. Risks related to adverse permitting or regulatory actions, intensified competition, changes in enforcement, severe weather, labor disruptions, changes in tourism or commuting patterns, macroeconomic conditions, public health crises, geopolitical activities, or other risks described elsewhere in this Risk Factors section in a concentrated market could have a disproportionate impact on our business. If we were to lose, be restricted in, or otherwise experience a decline in fleet size or rider engagement or disruptions in a concentrated market, we may be unable to offset the impact through growth in other cities and markets in a timely or efficient manner, or at all. Moreover, redeploying vehicles and personnel on short notice can be constrained by local compliance requirements and logistics and challenges, potentially resulting in underutilized vehicles and increased costs. Any losses or declines in these concentrated markets could cause our revenue to decline and adversely affect our reputation, business, financial condition, results of operations, and prospects.

***Any failure to offer high-quality rider support may harm our relationships with riders and could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.***

Our ability to attract and retain riders depends on our ability to provide a high-quality, reliable, and responsive customer support experience. Our customer support offerings include the use of automated systems, AI-powered tools and technology, as well as customer support personnel who need to be sufficiently knowledgeable regarding our offerings and able to effectively and efficiently address our riders' concerns. Riders on Lime depend on our customer support organization and technology offerings (including the use of AI) to resolve issues relating to our offerings, such as reporting a safety incident or questions about billing. Our ability to provide effective and timely support is dependent on us offering a variety of useful support channels to our riders (e.g., via the Rider App, telephone, and/or electronic communications platforms). As we continue to grow our business, expand into new cities, and increase our rider base, we could face challenges related to providing quality support services at scale. See "—Risks Related to our Technology and Intellectual Property." If any of our AI-powered customer support tools and technology or other innovations that we have recently implemented are not perceived to be as a high quality support channel by our riders, or if we fail to provide efficient and effective rider support, or there is a market perception that we do not maintain high-quality support, our reputation, brand, business, financial condition, results of operations, and prospects could be adversely affected.

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***Our company culture has contributed to our success and if we cannot maintain this culture as we grow, our business, financial condition, results of operations, and prospects could be adversely affected.***

We believe that our company culture, which promotes safety, sustainability, community, and innovation, has been critical to our success. We face a number of challenges that may affect our ability to sustain our corporate culture, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties identifying, attracting, rewarding and retaining personnel in leadership positions in our organization who share and further our culture, values and mission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the increasing size and geographic diversity of our workforce and distributed operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competitive pressures to move in directions that may divert us from our mission, vision, and values;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the continued challenges of a rapidly-evolving industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the increasing need to develop expertise in new areas of business that affect us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the integration of new personnel and businesses from acquisitions.

If we are not able to maintain our culture, our business, financial condition, results of operations, and prospects could be adversely affected.

***Our business depends on hiring and retaining high-quality personnel, and attrition or an inability to continue hiring high-quality personnel, or loss of our key management or unsuccessful succession planning could adversely affect our business, financial condition, results of operations, and prospects.***

If we are unable to attract, retain, and motivate qualified personnel, our business, financial condition, results of operations, and prospects could be adversely affected.

Our success depends in part on the continued contributions of our key technical employees and other highly skilled personnel for all areas of our organization in the United States and globally. We face intense competition for highly skilled personnel. We may not be successful in recruiting or retaining qualified personnel needed to support our business, and actions we take in response to economic conditions or other factors may affect our reputation or ability to hire in the future. In addition, changes to U.S. immigration policies, particularly to H-1B and other visa programs, including the increased fees associated with H-1B visas after September 21, 2025, and restrictions on travel could restrain the flow of technical and professional talent into the United States and may inhibit our ability to hire qualified personnel. Compliance with new and unexpected U.S. immigration and labor laws could also require us to incur additional unexpected labor costs and expenses or could restrain our ability to retain and attract skilled professionals. Any of these restrictions could adversely affect our business, financial condition, results of operations, and prospects.

Our future success also depends to a significant extent on the continued services of our senior management team, including Wayne Ting, our Chief Executive Officer and Ann Gugino, our Chief Financial Officer. The experience of our senior management is a valuable asset to us and would be difficult to replace. We do not maintain "key person" life insurance for any of our personnel. The loss of the services of our Chief Executive Officer or our Chief Financial Officer or other members of senior management team could disrupt and adversely affect our business, financial condition, results of operations, and prospects.

All of our U.S.-based employees, including our management team, are employed on an at-will basis, and there is no assurance that any such employee will remain with us.

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We may be required to increase compensation, benefits, or equity incentives in order to hire or retain qualified employees in ways that increase costs and reduce our margins. Declines in the perceived value of our equity awards, or sales of equity following this offering, could reduce employee motivation or retention. The loss of members of our senior management team or other highly skilled employees, or difficulties in attracting and integrating new hires, could disrupt our operations, delay execution of our strategy, and adversely affect employee morale and productivity.

***If we are unable to protect against theft, vandalism, and/or loss of vehicles and batteries, our business, results of operations and financial condition could be adversely affected.***

Our business depends on our ability to effectively safeguard our vehicle fleet and batteries. We have in the past experienced and expect in the future to experience loss of vehicles and batteries due to damage, vandalism, theft (including from organized retail crime), and other events that cause our vehicles and/or batteries to be retired before the end of their useful lives. Vulnerabilities or defects in our hardware, firmware, or software, have in the past and may in the future be discovered and exploited by third parties, and information about such vulnerabilities or methods of theft can spread quickly online, accelerating loss, tampering, and vandalism of our vehicles. Although we may take actions designed to protect against incidents of loss, there is no guarantee that any such measures will be successful, and such actions could have a detrimental effect on our reputation, rider experience, business, financial condition, results of operations, and prospects. For example, in response to heightened loss or risk, we may choose to reposition more of our vehicles away from areas with high loss rates or high incidents of vandalism, reduce our service area, or leave a city entirely. Where those areas also exhibit high rider demand, these actions could limit access to our vehicles, suppress rider adoption, and adversely affect our business, financial condition, and results of operations, and prospects.

***Our business is affected by the level of investments by cities in their public road infrastructure.***

Our business is affected by cities making investments in their road infrastructure that make it easier or more convenient to use our vehicles. Undermaintained or deferred maintenance of road infrastructure decreases the quality of streets and roads in the cities in which we operate and increases the presence of road hazards such as potholes, which may discourage riders from riding our vehicles, increase the likelihood of an accident, or increase the decay rate of our vehicles due to heightened wear and tear. Our vehicles are offered for use primarily in cities, where roads are often narrow and heavily congested with cars, buses, and light rails, which can make it unattractive for riders to use our service depending on the level of congestion. We depend on cities to improve infrastructure to lessen these factors and that make it easier for shared micromobility vehicles to operate, such as protected bike lanes and widening lanes to accommodate non-automobiles. While we endeavor to proactively work with cities to suggest improvements, and in some cases partner with cities to help forge policies that enhance infrastructure such as increasing the number of parking spaces available for our vehicles, improvements in city infrastructure remains generally outside of our control. Furthermore, many cities rely on federal grants and other types of funding from the federal government to fund infrastructure improvement projects, and such grants or funding may be decreased or canceled entirely. Any decrease from current levels of investment in infrastructure could have an adverse impact on our business, financial condition, results of operations, and prospects.

***Certain conditions like those that could lead to reductions in the levels of leisure and commuter travel could adversely affect ridership of our vehicles and result in decreased revenues and disruptions to our business.***

Public health crises, epidemics, pandemics, such as the outbreak of COVID-19, natural disasters, terrorist activities, political demonstrations, military actions, power outages, or other events could disrupt our operations, damage our vehicles, reduce ridership of our vehicles, or require temporary cessations of our offerings. Because our operations are generally concentrated in urban areas, including business districts, macro events that diminish urban activity, such as declines in office attendance, tourism, retail foot traffic, or public gatherings, could disproportionately impair ridership and our financial performance.

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For example, during the COVID-19 pandemic, various governmental restrictions, including the declarations of states of emergency, school and business closings, quarantines, "shelter at home" orders, restrictions on travel, limitations on social or public gatherings, and other social distancing measures reduced demand for our offerings and leisure and commuter travel generally. Reductions in levels of leisure travel as well as commuter travel, whether caused by general economic conditions, such as inflation, higher airfare costs or other events such as work stoppages, military conflicts, wars, terrorist incidents, civil unrest, cybersecurity incidents, natural disasters, epidemic or pandemic diseases, government shutdowns, recessions or other economic or labor market downturns, or the response of governments to any of these events, have in the past and could in the future have an adverse effect on the demand for shared micromobility overall and for our vehicles in particular. For example, recent and ongoing hostilities in the Middle East have caused disruptions in our business operations in that region, particularly in Israel, which could adversely affect our business, financial condition, results of operations, and prospects and cause unstable market conditions. We have no way to predict the progress or outcome of such hostilities or their impact on the region as the conflicts and government reactions are rapidly developing.

Natural disasters such as fires, earthquakes, or hurricanes may also reduce ridership of our vehicles. The impact of climate change may increase the frequency or severity of these risks and of weather events that make our offerings unappealing. We have temporarily reduced or stopped offerings in cities affected by such natural disasters in the past and expect to do so in the future.

Such events or natural disasters also impact regional and local travel trends, which impacts our business, results of operations and financial condition. We derive significant revenues from key leisure destinations, including California in the United States and major cities in Europe. Travel to leisure destinations is dependent upon the ability and willingness of consumers to travel on vacation, which in turn is impacted by a variety of factors, including weather and climate-related events, wars, geopolitical dynamics in a location, and the effect of economic cycles on consumers' discretionary travel. Uncertainty in overall consumer sentiment in the current economic environment, coupled with military conflicts, such as those in Israel, may adversely affect leisure travel to certain key cities, and thus have a negative impact on our business, financial condition, results of operations, and prospects.

Furthermore, civil unrest and increased police and law enforcement presence in any of the cities we operate could adversely affect demand for our vehicles and the quality of our operations. For example, in August 2025, members of the National Guard were deployed in Washington, D.C. and surrounding suburbs, which led to a decline in ridership as well as the cessation of service by some of our logistics providers as people chose to limit travel in response.

Our business, financial condition, results of operations, and prospects are also subject to global economic conditions, including inflation, including any resulting effect on discretionary spending by us or our riders.

***Our business depends in part on the success of our strategic go-to-market partnerships, including with Uber, and if we are unable to establish and maintain successful partnerships, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on Uber as a significant, highly efficient go-to-market channel for rider acquisition, discovery, and booking. In nearly all of our shared markets, Lime vehicles are featured as a ride option within the Uber app, and riders can access and initiate Lime trips through Uber's interface. By leveraging Uber's existing infrastructure and rider network, we tap into an existing rider base that can drive awareness without upfront marketing costs. For the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, approximately 14%, 16%, 14%, and 14% respectively, of our revenue was attributable to the Pay-As-You-Go revenue generated through our partnership with Uber.

Our arrangement with Uber is governed by a license and integration agreement that also includes an exclusivity provision in certain of our overlapping cities. Our current agreement, which was renewed in

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May 2025, extends through 2028, following multiple prior extensions, and is subject to unilateral termination by Uber in certain circumstances. If our agreement with Uber were terminated, not renewed, or materially modified in a manner that reduces our visibility or access to the rider base on Uber's platform, rider acquisition and demand for our offerings could be adversely affected, our rider acquisition costs could increase, and our unit economics could be impacted, any of which could harm our business, financial condition, results of operations, and prospects.

If exclusivity under our current agreement were to end or be narrowed, Uber could list or prioritize competing shared micromobility operators, which may reduce Lime's share of rider traffic and bookings within the Uber app. While we may seek to access riders through other partnerships or direct channels, we may be unable to replace lost volume in full, on acceptable economic terms, or in a timely manner, and any shift could require increased marketing spend, changes to pricing, or other actions that adversely affect our margins.

Our exposure to this channel also creates concentration risk. A decline in Uber's user base, market share, brand perception, or engagement in the cities where we are integrated, whether due to competition, macroeconomic conditions, regulatory developments, litigation, reputational events, product changes, or service interruptions, could reduce rider discovery and bookings of Lime through the Uber app. In addition, any changes by Uber to its policies, technical requirements, data sharing practices, or compliance standards could increase our costs, limit our access to the channel, or require product or operational changes.

***Our investments in research and development may not yield the results expected.***

Our business operates in intensely competitive markets characterized by rapid technological innovation and changing consumer preferences. Due to advanced technological innovation and the relative ease of technology imitation, new products and offerings tend to become standardized more rapidly, leading to more intense competition and ongoing cost erosion. In order to strengthen the competitiveness of our offerings in this environment, we expect to continue to invest heavily in research and development, maintaining and enhancing our hardware, software, and platform. However, these investments may not yield the innovation or the results expected on a timely basis, or at all, or our competitors may surpass us in technological innovation, hindering our ability to commercialize new and competitive products that meet the needs and demands of the market in a timely manner or at all, which consequently may adversely impact our business, financial condition, results of operations, and prospects as well as our reputation.

***Changes in consumer preferences or demographic trends or discretionary consumer spending could adversely impact our business, financial condition, results of operations, and prospects.***

Changes in consumer preferences, demographic trends, and trends in discretionary consumer spending could adversely affect business, financial condition, results of operations, and prospects. For example, rider preferences for other forms of transportation such as autonomous vehicles could also adversely affect rider adoption or retention and reduce the effectiveness of our marketing and technology initiatives. Additionally, the majority of our riders are between the ages of 18 and 45, and if we fail to appeal to riders outside of this age range, our ability to grow our business may be adversely affected. For example, we designed and introduced our LimeGlider vehicle to appeal to older riders who may prefer the comfort of a seated vehicle to a standing e-scooter but that effort may not be successful. In addition, changes in preferences by consumers for modes of shared micromobility vehicles other than those that we offer could adversely affect demand for our vehicles. Development of new modes of vehicles to address anticipated consumer preference is capital intensive and costly, and we may not be able to accurately predict consumer preference, or develop new vehicles in a timely fashion, or at all, to address such changing preferences, which may harm our reputation or result in us losing market share. Also, our success depends to a significant extent on numerous factors affecting consumer confidence and discretionary consumer income and spending, such as general economic conditions, consumer sentiment, and unemployment levels. Any factors that could cause consumers to spend less on shared

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micromobility or shift to lower-priced products could reduce our revenue or inhibit our ability to maintain or increase pricing, which could adversely affect our business, financial condition, results of operations, and prospects.

***Our vehicles use lithium-ion battery cells, which occasionally have been observed to catch fire or vent smoke and flame. If such risk materialized, it could adversely affect our reputation, business, financial condition, results of operations, and prospects.***

The battery packs within our vehicles use lithium-ion cells. If the batteries are improperly handled, stored, managed, transported, or controlled, or the lithium-ion cells are subject to environmental stresses, such as from wear-and-tear or from vandalism, they can rapidly release the energy they contain by venting smoke and flames in a manner that can ignite nearby materials as well as other lithium-ion cells. Even if properly handled, there can be no assurance that a thermal event will not occur. While the battery pack is designed to contain any single cell's release of energy without spreading to neighboring cells, the battery pack could fail during testing or charging or in the field, which could result in bodily injury or death and subject us to litigation, regulatory investigations or actions, or redesign efforts, all of which would be time-consuming and expensive and could harm our brand and divert our resources. Also, negative public perceptions regarding the suitability of lithium-ion cells for vehicle applications, the social and environmental impacts of mineral mining or procurement associated with the constituents of lithium-ion cells, or any future incident involving lithium-ion cells, such as a vehicle or other fire, could adversely affect our reputation, business, financial condition, results of operations, prospects, and cash flows.

In addition, we and logistics providers store and charge the battery packs at certain of our respective facilities, which expose us to risk of obsolescence, degradation, or damage. We have experienced, and may in the future experience, battery safety issues, including thermal events or defects that necessitate removing vehicles or batteries from circulation, pausing operations to investigate, and undertaking remediation, replacement, or retrofit programs. Such damage or injury could also lead to adverse publicity, litigation, and regulatory action. Any such safety issue or fire related to the batteries could disrupt our operations and any prolonged or significant disruption would adversely affect our business, financial condition, results of operations, prospects, or cash flows. In addition, the transportation and effective storage of lithium-ion batteries is also tightly regulated by the United States Department of Transportation and other similar regulatory bodies in other markets, the governing regulations are continuously evolving as lithium-ion batteries become more and more widely used around the world. The cost to comply with such regulations has increased and could continue to increase as such regulations evolve. In addition, any failure to comply with such regulations or future regulations could result in fines, loss of permits, or other regulatory consequences, which could limit our ability to manufacture and deliver our vehicles, which could impact the availability and affordability of our vehicles. If any of the foregoing risks adversely impact our operations and the rider experience, our business, financial condition, results of operations, and prospects may be adversely affected.

***Our business is substantially dependent on operations outside the United States, including those in markets in which we have limited experience, and if we are unable to manage the risks presented by our business model internationally, our business, financial condition, results of operations, and prospects would be adversely impacted.***

As of December 31, 2025, we operated in 29 countries and approximately 230 cities. We have limited experience operating in many jurisdictions outside of the United States and have made, and expect to continue to make, significant investments to expand our international operations and compete with local competitors.

Conducting our business internationally, particularly in countries in which we have limited experience, subjects us to risks that we do not face to the same degree in the United States. These risks include, among others:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operational and compliance challenges caused by distance, language, and cultural differences;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the resources required to localize our business, which requires the translation of the Rider App and Lime Supply App and our website into foreign languages and the adaptation of our operations to local practices, laws, and regulations and any changes in such practices, laws, and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• laws and regulations more restrictive than those in the United States, including laws governing competition, pricing, payment methods, Internet activities, logistics services, insurance, payment processing and payment gateways, tax and social security laws, employment and labor laws, email messaging, data privacy, location services, collection, use, sharing or other processing of personal information, ownership of intellectual property, and other activities important to our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition with companies or other services that understand local markets better than we do, that have pre-existing relationships with potential riders in those markets, or that are favored by government or regulatory authorities in those markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing levels of social acceptance of our brand, products, and offerings, whether due to our perceived national association or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to business cultures in which improper business practices may be prevalent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in managing, growing, and staffing international operations, including in countries in which foreign employees may become part of labor unions, employee representative bodies, or collective bargaining agreements, and challenges relating to work stoppages or slowdowns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in currency exchange rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• higher levels of credit risk and payment fraud;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse tax consequences, including the complexities of foreign value added tax systems, and restrictions on the repatriation of earnings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased financial accounting and reporting burdens, and complexities associated with implementing and maintaining adequate internal controls;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in implementing and maintaining the financial systems and processes needed to enable compliance across multiple offerings and jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tariffs, import and export restrictions, and changes in trade regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• political, social, and economic instability abroad, including wars in the Middle East, terrorist attacks and security concerns in general, and societal crime conditions that can directly impact riders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced or varied protection for intellectual property rights in some markets.

If we fail to manage any of the foregoing risks effectively or at all, our international operations could be impacted, which would in turn adversely affect our business, financial condition, results of operations, and prospects.

**Risks Related to our Technology and Intellectual Property**

***Our platform contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could disrupt our riders' ability to access our platform.***

Our platform contains software licensed to us under "open source" licenses. Use and distribution of open source software may entail greater risks than use of third-party proprietary software, as open source

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licensors generally do not provide the same degree of support, and do not offer warranties, indemnification, or other contractual protections regarding infringement claims or the quality of the code, including the existence of software vulnerabilities. In addition, the public availability of such software may make it easier for others to compromise our platform.

Some open source licenses contain requirements that we make available source code for modifications or derivative works we create based upon the type of open source software we use, or that we grant licenses to our intellectual property to others on terms that are unfavorable to us or at no cost. Additionally, some open source licenses require that if we combine our proprietary software with open source software in a certain manner, we could be required to release the source code of our proprietary software to the public. This can effectively render what was previously proprietary software to be open source software and may allow our competitors to create similar platform with lower development effort and time, and could ultimately result in a loss of our competitive advantage. Alternatively, to avoid the public release of the affected portions of our source code, we could be required to expend substantial time and resources to re-engineer some or all of our software.

Although we attempt to mitigate such unintended licensing obligations, the terms of many open source licenses have not been interpreted by U.S. or foreign courts, and there is a risk that these licenses could be construed in a way that could impose unanticipated conditions or restrictions on our ability to provide or distribute impacted elements of our platform. From time to time, there have been claims challenging the ownership of open source software against companies that incorporate open source software into their solutions. As a result, we could be subject to litigation by parties claiming ownership of what we believe to be open source software. Moreover, we cannot assure you that our processes for controlling our use of open source software in our platform will be effective. If we are held to have breached or failed to fully comply with all the terms and conditions of an open source software license, we could face infringement or other liability, be subject to costly litigation, or be required to seek costly licenses from third parties to continue operating our platform on terms that are not economically feasible, to re-engineer our platform, to discontinue use of impacted elements of our platform if re-engineering could not be accomplished on a timely basis, if at all, or to make generally available, in source code form, our proprietary code, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***Our business could be adversely affected by changes in the access to and use of the Internet, mobile networks, GNSS systems including GPS and Galileo, and mobile devices and unfavorable changes in, or our actual or perceived failure to comply with, existing or future laws governing the access to and use of the Internet, mobile networks, and mobile devices.***

Our business depends on riders' ability to access vehicles via the Rider App and our in-field workers' ability to access tasks via the Lime Supply App on a mobile device and its operating system, mobile network operators, and the Internet, and our vehicles having access to the Internet. We may operate in cities that provide limited Internet connectivity, particularly as we continue to expand internationally. Internet access and mobile network access are frequently provided by companies with significant market power that could take actions that degrade, disrupt, or increase the cost of riders' ability to access our vehicles and our ability to operate our vehicles cost-effectively. In addition, the Internet infrastructure that we and our riders rely on in any particular geographic area may be unable to support the demands placed upon it, or otherwise subject to outages or other disruption. Our offerings also depend on Global Navigation Satellite System ("GNSS") technology, which includes Global Positioning System ("GPS"), Galileo, and other GNSS systems, to help riders locate our fleet. Any such failure in Internet availability, the mobile device or mobile network availability, or GNSS/GPS/Galileo availability, even for a short period of time, would adversely affect riders' ability to access our offerings and our ability to provide offerings during such interruption and could potentially harm our business, financial condition, results of operations, and prospects.

Moreover, we are subject to a number of laws and regulations specifically governing the Internet, mobile networks, and mobile devices that are constantly evolving. Existing and future laws and

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regulations, or changes thereto, may impede the growth and/or availability of the Internet, mobile network, and online offerings generally, require us to change our platform architectures, features, or implementation, or our business practices, or raise our effective compliance costs or other costs of doing business. Any failure, or perceived failure, by us to comply with any of these laws or regulations could result in damage to our reputation and brand, a loss in business and proceedings or actions against us by governmental entities or private parties (e.g., class actions, administrative or other legal proceedings, such as litigation in court or in arbitration), which could adversely affect our business, financial condition, results of operations, and prospects.

***We rely on mobile operating systems and application marketplaces to make the Rider App available to riders, and if we do not effectively operate with such application marketplaces and maintain high rider reviews for the Rider App, our usage or brand recognition could decline and our business, financial condition, results of operations, and prospects could be adversely affected.***

We depend on mobile operating systems, such as Android and iOS, and their respective application marketplaces, and our website, to make the Rider App available to riders to access and interface with the Rider App and our offerings. Any changes in such third-party systems that degrade the functionality of the Rider App could adversely affect the riders' experience on impacted mobile devices. If such mobile operating systems or application marketplaces limit or prohibit us from making the Rider App available to riders, make changes that degrade the functionality of the apps, increase the cost of using the Rider App, impose terms of use unsatisfactory to us, or modify their search or ratings algorithms in ways that are detrimental to us, or if our competitors' placement in such application marketplace is more prominent than the placement of the Rider App, our overall growth in our rider base could slow. The Rider App has experienced fluctuations in the number of downloads in the past, and we anticipate similar fluctuations could happen again in the future. Any of the foregoing risks could adversely affect our business, financial condition, results of operations, and prospects.

As new mobile devices and mobile platforms are released, there is no guarantee that such devices and platforms will support the Rider App or Lime's ability to effectively release updates to the Rider App. Additionally, in order to deliver a high-quality application, we strive to ensure that the Rider App is designed to work effectively with a range of mobile technologies, systems, networks, and standards. We may not be successful in developing or maintaining participants in the mobile industry necessary to keep pace with the evolution of the mobile ecosystem, which may adversely affect riders' ability to access and utilize our offerings through the Rider App, or their experience with Lime. If Lime riders encounter any difficulty accessing or using the Rider App on their mobile devices, or if we are unable to adapt to changes in popular mobile operating systems, our business, financial condition, results of operations, and prospects could be adversely affected.

In addition, mobile operating system providers have announced changes as well as future plans to limit the ability of application developers like us to collect and use certain data about consumers, including riders using the Rider App. For example, in 2021, Apple imposed requirements for consumer disclosures regarding data privacy practices, and implemented an application tracking transparency framework that requires opt-in consent for certain types of tracking. In February 2022, Google announced it planned to adopt restrictions to restrict tracking activity across Android devices. These changes have had, and we expect will continue to have, a negative impact on our flexibility in the collection and use of rider data for advertising and promotions. If we are unable to mitigate the effects of these new developments, it may further impair our ability to effectively reach and grow new riders, or to effectively engage with existing riders with targeted advertising and promotions through the Rider App.

Similarly, we also rely on the Lime Supply App to enable the deployment, charging, repositioning, and maintenance of our vehicles by our workforce. If mobile operating systems, application marketplaces, device changes, or connectivity and location-permission restrictions limit, disrupt, or degrade the Lime Supply App, our workforce may be unable to execute tasks efficiently, which could reduce fleet availability, increase costs, and adversely affect our business, financial condition, results of operations, and prospects.

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***Use of AI and machine learning may present additional risks, including risks associated with algorithm development or use, the data sets used, and/or a complex, developing regulatory environment.***

We use AI, automated decision making, and machine learning technologies (collectively, "AI Technologies") for our internal work streams and productivity as well as to analyze our data in support of our operations, which may present additional risks, including risks inherent in its use. For example, we rely on AI Technologies to detect and prevent fraudulent activity, including the use of stolen payment credentials and unauthorized use of our vehicles as well as for predicting rider demand and dynamically deploying our fleet. We also use machine learning to prioritize and assign operational tasks within the Lime Supply App, including dispatch sequencing, charging and maintenance scheduling, fleet repositioning, and parts and inventory allocation. If these algorithms are wrong, outdated, or biased, they may not adequately prioritize work, misroute our workforce, delay repairs or charging, trigger stockouts of spare parts, which can reduce fleet availability and service quality, increase operating costs, and contribute to failures to meet permit requirements or regulations.

We are making investments in expanding our AI capabilities in our offerings, including ongoing deployment and improvement of existing AI Technologies, as well as using AI Technologies in our software engineering processes and the development of new features. As with many technological innovations, there are significant risks involved in developing, maintaining, and deploying these technologies and there can be no assurance that the usage of or our investments in such technologies will enhance our offerings or be beneficial to our business, including our efficiency, or profitability. If these AI Technologies are incorrectly designed or implemented, or the data sets or models upon which they are based have errors or biases or are incomplete, inaccurate or of poor quality, or if we do not have adequate rights to use such data sets or models, the performance of our offerings, as well as our business and reputation, could suffer, or we could otherwise incur liability through the violation of laws, or contracts to which we are a party. Further, such AI Technologies may also be adversely impacted by unforeseen defects, technical challenges, data breaches, cybersecurity threats or material performance issues. Accordingly, our use of AI Technologies may inadvertently reduce our effectiveness and efficiency or cause unintentional or unexpected outputs that are incorrect, do not match our business goals, standards and values, do not comply with our policies or procedures, harm our brand and reputation, negatively impact users or otherwise interfere with the performance of our business.

In addition, we may experience difficulties in enforcing any intellectual property or other proprietary rights in output generated by generative AI Technologies. The United States Copyright Office has previously denied copyright protection for content generated by AI Technologies, and the United States Patent and Trademark Office has similarly stated that an AI tool cannot be an "inventor" of a patent, rendering it impossible to obtain patent protection for inventions created solely by AI Technologies. In addition, the Supreme Court of the United Kingdom has reached a similar conclusion, stating that AI systems cannot be named as an "inventor" for UK patent law purposes. The United States and other countries are also considering, or have implemented, comprehensive legal compliance frameworks specifically for AI, which is a trend that may increase given that the European Union entered into force the first such framework in its Artificial Intelligence Act on August 1, 2024 (the "EU AI Act"). The EU AI Act establishes, among other things, a risk-based governance framework for regulating AI systems operating in the European Union. This framework categorizes AI systems, based on the risks associated with such AI systems' intended purposes, as creating unacceptable or high risks, with other AI systems being considered limited or low risk. In addition, there may be additional legislation or regulations from government bodies that similarly impose compliance obligations for AI. Any failure or perceived failure by us to comply with such current or future requirements, including the EU AI Act, could have an adverse impact on our business, including by increasing our risk of regulatory action or liability. In addition, compliance with such legislation or regulation may impose additional costs on us or otherwise adversely affect our business, results of operations, financial condition and future prospects. Changes to existing regulations, their interpretation or implementation, or new regulations could impede our use of AI and

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machine learning technology and also may increase the burden and cost of research and development in this area.

Our ability to continue to use such AI Technologies at the scale we need may be dependent on access to specific third-party software and infrastructure. We cannot control the availability or pricing of such third-party AI Technologies, especially in a highly competitive environment, and we may be unable to negotiate reasonable economic terms with the applicable providers. If any such third-party AI Technologies become incompatible with our systems or unavailable for use, or if the providers of such models unfavorably change the terms on which their AI Technologies are offered or terminate their relationship with us, our operational workforce could become less efficient or effective and our business, financial condition, results of operations, and prospects could be harmed.

While we aim to use AI Technologies ethically and attempt to identify and mitigate ethical or legal issues presented by its use, we may be unsuccessful in identifying or resolving issues before they arise. The use of AI Technologies to support business operations carries inherent risks related to data privacy and cybersecurity, such as intended, unintended, or inadvertent transmission of proprietary, confidential or sensitive information, as well as challenges related to implementing and maintaining AI Technologies, such as developing and maintaining appropriate datasets for such support. For example, if any of our employees, logistics providers, or contingent workers input our proprietary, confidential, or sensitive information while using any third-party AI Technologies in connection with our business or the products, solutions and services such third parties provide to us, such practice may lead to the inadvertent disclosure of our proprietary, confidential, or sensitive information, which may impact our ability to realize the benefit of, or adequately maintain, protect and enforce our intellectual property or other proprietary rights in, such proprietary, confidential, or sensitive information or otherwise adversely affect our business, financial condition, results of operations, and prospects. In addition, AI use or management by us or others, including decisions based on automated processing or profiling, inappropriate or controversial data practices, or insufficient disclosures regarding machine learning, automated decision making, and algorithms, have and could impair the operationality or acceptance of AI Technologies or subject us to litigation, regulatory investigations, or other harm, such as negative impacts to the value of our intellectual property or our brand. These deficiencies could also undermine the decisions, predictions, or analysis AI applications produce, or lead to unintentional bias and discrimination, subjecting us to competitive harm, legal liability, and brand or reputational harm. The rapid evolution of AI Technologies may require us to allocate additional resources to help implement AI in order to minimize unintended or harmful impacts, and may also require us to make additional investments in the development of proprietary datasets, machine learning models or other systems, which may be costly. Market acceptance of AI Technologies is uncertain, and we may be unsuccessful in our vehicle development efforts or suffer reputational harm. Any of these factors could adversely affect our business, financial condition, results of operations, and prospects.

***We rely on third parties, including technology providers, and if such third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business, financial condition, results of operations, and prospects could be adversely affected.***

Our success depends in part on our relationships with third-party technology providers. For example, we rely on encryption and authentication technologies licensed from third parties that are designed to securely transmit personal information provided by riders on Lime. We also use and incorporate third-party technology, such as identity verification technology, as part of our platform. If any of these third parties terminate their relationship with us or refuse to renew their agreement with us on commercially reasonable terms, we would need to find an alternative provider and may not be able to secure similar terms or replace such provider in an acceptable time frame or at all. We also rely on other software and services supplied by third parties, such as communications and internal software, and our business may be adversely affected to the extent such software and services do not meet our expectations, contain defects, errors, or vulnerabilities, are compromised, or otherwise experience outages. Any of these risks could increase our costs and adversely affect our business, financial condition, results of operations, and prospects.

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We use and incorporate technology and intellectual property from third parties into our platform. Such third-party technology and intellectual property, and the terms on which they are offered, are constantly evolving, and we may not be able to maintain or modify our platform to ensure their compatibility with such third-party offerings. Updates to third-party technology or software that integrates with our platform, could cause our platform to not operate as efficiently as such platform has previously operated, or at all. Moreover, we cannot be certain that such technology and intellectual property does not infringe, misappropriate or otherwise violate the intellectual property or other proprietary rights of others, or that our suppliers and licensors have sufficient rights in or to the technology or intellectual property in all cities in which we may operate. If we are unable to obtain, maintain, protect, defend or enforce our rights to any of this technology, including because of intellectual property infringement claims brought by third parties against our suppliers and licensors or against us, or if we are unable to continue to obtain the technology or enter into new agreements on commercially reasonable terms, our ability to develop our platform or offerings containing that technology could be adversely affected and our business, financial condition, results of operations, and prospects could be adversely affected. Additionally, if we are unable to access necessary technology from third parties, we may be forced to redesign our technology or acquire or develop alternate technology, which may require significant time and effort, may be of lower quality or performance standards, and may subject us to certain risks discussed in the preceding paragraph that are currently borne by third parties. This would limit and delay our ability to provide new or competitive offerings and increase our costs. If alternate technology cannot be obtained or developed or if we are unable to develop such alternate technology at commercially reasonable levels of risk, we may not be able to offer certain features or functionality as part of our offerings, which could adversely affect our business, financial condition, results of operations, and prospects.

***We rely on third-party payment processors to process payments made by riders on the Rider App, and if we cannot manage our relationships with such third parties and other payment-related risks, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on a limited number of third-party payment processors to process payments made by riders. If any of our third-party payment processors terminates its relationship with us or refuses to renew its agreement with us on commercially reasonable terms, we would need to find an alternate payment processor, and may not be able to secure similar terms or replace such payment processor in an acceptable time frame or at all. See also "—Risks Related to our Technology and Intellectual Property—We rely on third parties, including technology providers, and if such third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business, financial condition, results of operations, and prospects could be adversely affected." Any of these risks could cause us to lose our ability to accept online payments or other payment transactions on Lime, either of which could make Lime less convenient and attractive to riders and adversely affect our ability to attract and retain riders.

Nearly all rider payments are made by credit card, debit card, or through third-party payment services, which subjects us to certain payment network or service provider operating rules, to certain regulations and to the risk of fraud. We may in the future offer new payment options to riders that may be subject to additional operating rules, regulations, and risks. We may also be subject to a number of other laws and regulations relating to the payments we accept from riders, including with respect to money laundering, money transfers, data privacy, data protection, and cybersecurity. If we fail to comply with applicable rules and regulations, we may be subject to civil or criminal penalties, fines, or higher transaction fees and may lose our ability to accept online payments or other payment card transactions, which could make our offerings less convenient and attractive to riders. If any of these events were to occur, our business, financial condition, results of operations, and prospects could be adversely affected.

For example, if we are deemed to be a money transmitter as defined by applicable regulation, we could be subject to certain laws, rules, and regulations enforced by multiple authorities and governing bodies in the United States and numerous state and local agencies who may define money transmitter differently. For example, certain states may have a more expansive view of who qualifies as a money transmitter. Additionally, outside of the United States, we could be subject to additional laws, rules, and

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regulations related to the provision of payments and financial services, and if we expand into new jurisdictions, the foreign regulations and regulators governing our business that we are subject to will expand as well. If we are found to be a money transmitter under any applicable regulation and we are not in compliance with such regulations, we may be subject to fines or other penalties in one or more jurisdictions levied by federal, state, or local regulators, including state attorneys general, as well as those levied by foreign regulators. In addition to fines, penalties for failing to comply with applicable rules and regulations could include criminal and civil proceedings, forfeiture of significant assets, or other enforcement actions. We could also be required to make changes to our business practices or compliance programs as a result of regulatory scrutiny.

For various payment options, we are required to pay fees such as interchange and processing fees that are imposed by payment processors, payment networks, and financial institutions. These fees are subject to increases, which could adversely affect our business, financial condition, results of operations, and prospects. Additionally, our payment processors require us to comply with payment card network operating rules, which are set and interpreted by the payment card networks and which include, among other obligations, requirements to comply with security standards. For example, we are subject to the Payment Card Industry Data Security Standard ("PCI DSS"), issued by the Payment Card Industry Security Standards Council. PCI DSS contains compliance guidelines with regard to our security surrounding the physical and electronic storage, processing, and transmission of cardholder data. The payment card networks could adopt new operating rules or interpret or re-interpret existing rules in ways that might prohibit us from providing our offerings to some riders, be costly to implement, or difficult to follow, and if we fail or are alleged to fail to comply with applicable rules or requirements of payment card networks, we may be subject to fines or higher transaction fees and may lose our ability to accept online payments or other payment card transactions. We have agreed to reimburse our payment processors for fines that are assessed by payment card networks if we, our employees, or our riders violate these rules. Any of the foregoing risks could adversely affect our business, financial condition, results of operations, and prospects.

***Systems failures and resulting interruptions in the availability of the Rider App, the Lime Supply App, and offerings could adversely affect our business, financial condition, results of operations, and prospects.***

Our business is highly dependent upon the effective operation of our information technology systems. Our systems, or those of third parties upon which we rely, may experience service interruptions, failures or degradation because of firmware and software defects or malfunctions, distributed denial-of-service and other cyberattacks, human error, earthquakes, hurricanes, floods, fires, natural disasters, power losses, disruptions in telecommunications services, fraud, military or political conflicts, terrorist attacks, computer viruses, ransomware, malware, phishing and forms of social engineering, or other events. Our systems also may be subject to break-ins, physical or electronic intrusions, sabotage, theft or misuse, and intentional acts of vandalism, including by our own personnel. We have experienced, and may in the future experience, incidents involving misconduct by our personnel, including misappropriation of funds, data, or system access, which could result in financial loss, operational disruption, regulatory exposure, and reputational harm.

Some of our systems are not fully redundant and our disaster recovery planning may not be sufficient for all eventualities. Our business interruption insurance may not be sufficient to cover all of our losses that may result from interruptions in our service as a result of systems failures and similar events.

We have experienced and will likely continue to experience system failures and other events or conditions from time to time that interrupt the availability or reduce or affect the speed or functionality of our offerings. These events have resulted in, and similar future events could result in, losses of revenue or additional costs and expenses. A prolonged interruption in the availability or reduction in the availability, speed, or other functionality of our platform could adversely affect our business, financial condition, results of operations, and prospects and reputation and could result in the loss of riders. Moreover, to the extent that any system failure or similar event results in harm or losses to our riders, we

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may make voluntary payments to compensate for such harm or the affected riders could successfully seek monetary recourse or contractual remedies from us for their losses and such claims, even if unsuccessful, would likely be time-consuming and costly for us to address.

***We primarily rely on Amazon Web Services ("AWS") to deliver our platform to riders, and any disruption of or interference with our use of AWS could adversely affect our business, financial condition, results of operations, and prospects.***

We currently host our platform and support our operations using AWS, a third-party provider of multi-tenant cloud infrastructure services. We do not have control over the operations of the facilities of AWS that we use. AWS' facilities are vulnerable to damage or interruption from natural disasters, cyberattacks, terrorist attacks, power outages, and similar events or acts of misconduct. Our platform's continuing and uninterrupted performance is critical to our business operations and ensuring riders' access to our offerings. We have experienced, and can expect that we will experience, interruptions, delays, and outages in AWS service and availability due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions, and capacity constraints. In addition, any changes in AWS' service levels may adversely affect our ability to meet the requirements of riders, our employees or operational workforce. Since our platform's continuing and uninterrupted performance is critical to our success, sustained, or repeated AWS system failures would reduce the effectiveness of our operations and the attractiveness of our offerings. It may become increasingly difficult to maintain and improve our performance, especially during peak usage times, as we expand and the usage of our offerings increases. Any negative publicity arising from these disruptions could harm our reputation and brand and may adversely affect the usage of our offerings.

Our commercial agreement with AWS will remain in effect until terminated by AWS or us. Even absent a breach by Lime, AWS may terminate the agreement for convenience after providing Lime with 30 days advance notice. In the event that our agreement with AWS is terminated or we add additional cloud infrastructure service providers, we may experience significant costs or downtime in connection with the transfer to, or the addition of, new cloud infrastructure service providers. Any of the above circumstances or events may harm our reputation and brand, reduce the availability or usage of our platform, lead to a significant short term loss of revenue, increase our costs, and impair our ability to retain or attract new riders, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***Defects, errors, or vulnerabilities in our application, backend systems, or other technology systems and those of third-party technology providers, or system failures and resulting interruptions in our availability or the availability of other systems and providers, could harm our reputation and brand and adversely impact our business, financial condition, results of operations, and prospects.***

The software underlying our platform is highly complex and may contain undetected defects, errors or vulnerabilities, some of which may only be discovered after the code has been released. Where appropriate, we rely heavily on a software engineering practice known as "continuous integration and continuous deployment" (CI/CD) which refers to the frequent release of our software code, sometimes multiple times per day. While the virtue of CI/CD practices are well known, the practice may increase the risk of the rapid propagation of defects, errors, and vulnerabilities present in the code into our platform. The third-party software that we incorporate into our platform may also be subject to defects, errors or vulnerabilities. Any defects, errors or vulnerabilities discovered in our code or from third-party software after release could adversely impact the rider experience, result in negative publicity, loss of revenue and disrupt riders' access to our platform, or other operational or service performance issues. Such vulnerabilities could also be exploited by malicious actors and result in exposure of data of riders, or result in a cybersecurity breach or incident, or otherwise adversely impact the availability and performance of our platform. We may need to expend significant financial and development resources to analyze, correct, eliminate or work around errors or defects or to address and eliminate vulnerabilities. Any failure to timely and effectively resolve any such defects, errors, or vulnerabilities could adversely affect our business,

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financial condition, results of operations, and prospects as well as adversely affect our reputation or brand.

***Claims by others that we infringed, misappropriated, or otherwise violated their intellectual property or other proprietary rights could harm our business.***

Third parties have, and in the future may, bring claims and/or lawsuits alleging our infringement, misappropriation, or violation of their intellectual property or other proprietary rights. We cannot guarantee that we have not, do not, or will not infringe, misappropriate, or otherwise violate the intellectual property or other proprietary rights of others. Our technologies may not be able to withstand any third-party claims against their use. Companies in the markets in which we operate are frequently subject to litigation based on allegations of infringement, misappropriation or other violations of intellectual property or other proprietary rights. In addition, certain companies and rights holders seek to enforce and monetize patents or other intellectual property or other proprietary rights they own, have purchased, or otherwise obtained. As our business continues to evolve and we become a publicly-traded company, the likelihood of intellectual property or other proprietary rights-based claims against us grows based on the following: increase in public profile, increases in revenue base, increases in the number of competitors in the cities we operate, our continued development of new technologies, new offerings, and new intellectual property, as well as continued international expansion. From time to time third parties may assert, and in the past have asserted, claims of infringement, misappropriation or other violations of intellectual property (such as patent rights) or other proprietary rights against us.

For example, third parties have made claims regarding various allegations of patent infringement. To the extent we hire any employees or other personnel from competitors, we may also be subject to allegations that such personnel have used or divulged to us proprietary or other confidential information to us. There can be no assurance that we will be successful in defending against allegations of infringing a third party's intellectual property or reaching a business resolution that is satisfactory to us. Relatedly, third parties may allege that our service providers or other persons retained or indemnified by us infringe on, misappropriate or otherwise violate such competitors' or other third parties' intellectual property or other proprietary rights, such that we may be required to indemnify such service providers or other persons. In addition, our competitors and others may now and in the future have significantly larger and more mature patent portfolios than us. Future litigation may involve patent holding companies or other adverse patent owners who have no relevant product or service revenue and against whom our own patents may therefore provide little or no deterrence or protection. Many potential litigants, including some of our competitors and patent-holding companies, have the ability to dedicate substantial resources to assert their intellectual property or other proprietary rights. Any claim of infringement by a third party, even those without merit, could cause us to incur substantial costs defending against the claim, could distract our management from our business, and an adverse outcome could require us to cease use of such intellectual property as well as pay substantial damages, legal fees, royalty payments, or other fees in connection with a claimant securing a judgment against us, including treble damages if we are found to have willfully infringed certain types of intellectual property. Furthermore, because of the substantial amount of discovery required in connection with intellectual property litigation, we risk compromising our confidential information during this type of litigation. Plaintiffs can also seek injunctive relief that may limit the operation of our business or prevent the marketing of our offerings that infringe, misappropriate, or otherwise violate, or allegedly infringe, misappropriate, or otherwise violate, on the plaintiff's intellectual property or other proprietary rights. If a third party is able to obtain an injunction preventing us from using our technology, accessing third-party intellectual property or other proprietary rights, or if we cannot license or develop alternative technology for any infringing aspect of our business, we could be forced to limit or stop the production or usage of our vehicles or cease other business activities related to such intellectual property. To resolve these claims, we may enter into licensing or settlement agreements with restrictive terms or significant fees, be required to implement costly redesigns of our vehicles, and/or pay substantial damages. If we do not resolve these claims in advance of a trial, there is no guarantee that we will be successful in court. These outcomes could adversely affect our business, financial condition, results of operations, and prospects.

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With respect to any intellectual property or other proprietary rights claim, we may be required to seek a license to continue operations that are found to be in violation of such rights, which may not be available on favorable or commercially reasonable terms and may significantly increase our operating expenses. Such licenses are typically non-exclusive, and therefore our competitors and other third parties may have access to the same technology licensed to us. If a third party does not offer us a license to its intellectual property on reasonable terms, or at all, we may be required to redesign our platform or functionality therein or develop alternative, non-infringing technology, which could require significant time (during which we would be unable to continue to offer our vehicles), effort and expense and may ultimately not be successful. Any of these events could adversely affect our business, financial condition, results of operations, and prospects.

Claims of infringement, misappropriation or other violation may be extremely broad, and it may not be possible for us to operate our network and conduct our operations in such a way as to avoid all such alleged violations of such intellectual property or other proprietary rights. We also may be unaware of third-party intellectual property or other proprietary rights that cover or otherwise relate to some or all of our products and offerings. Moreover, the volume of intellectual property-related claims and the mere specter of threatened litigation could distract our management from the daily operations of our business. Some of the aforementioned risks of infringement, misappropriation or other violation, in particular with respect to patents, are potentially heightened due to the nature of our business, industry and intellectual property portfolio. We do not have a comprehensive patent portfolio, which could otherwise assist us in deterring patent infringement claims from third parties through our ability to bring patent infringement counterclaims using our own patent portfolio. In addition to the previously mentioned impacts of intellectual property-related litigation, while in some cases a third party may have agreed to indemnify us for costs associated with intellectual property-related litigation, such indemnifying third party may refuse or be unable to uphold its contractual obligations.

***Failure to seek, obtain, maintain, protect, defend, or enforce our intellectual property or other proprietary rights could harm our business, financial condition, results of operations, and prospects.***

Our success is dependent in part upon protecting our intellectual property or other proprietary rights (such as our rights in hardware designs, code, information, data, processes and other forms of information, know-how and technology), and as we grow, we expect to continue to develop intellectual property that is important for our existing and future business. We rely on a combination of patents, copyrights, trademarks, service marks, trade dress, trade secrets, and other forms of intellectual property, contractual restrictions, and confidentiality procedures to establish and protect our intellectual property and proprietary rights. However, the steps we take to protect our intellectual property or other proprietary rights may not be sufficient or effective, and may vary by jurisdiction. Even if we detect any third-party infringement, misappropriation, or other violations with respect to our intellectual property or other proprietary rights, we may need to engage in litigation to enforce our rights. Any enforcement efforts we undertake, including litigation, could be time-consuming and expensive and could divert management attention from the business and may not be successful. While we take precautions designed to protect our intellectual property, it may still be possible for competitors and other unauthorized third parties to copy or reverse engineer our technology, access or copy our data, and use our proprietary information to create or enhance competing offerings, which could adversely affect our position in our rapidly evolving and highly competitive industry. Some license provisions that protect against unauthorized use, copying, transfer, and disclosure of our technology prove insufficient or may be unenforceable under the laws of certain jurisdictions and foreign countries. The laws of some countries do not provide the same level of protection of our intellectual property or other proprietary rights as do the laws of the United States and effective intellectual property protections may not be available or may be limited in foreign countries. Our domestic and international intellectual property protection and enforcement strategy is influenced by many considerations including costs, where we have business operations, where we might have business operations in the future, legal protections available in a specific jurisdiction, and/or other strategic considerations. As such, we do not have identical or analogous intellectual property protection in all

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jurisdictions, which could risk freedom to operate in certain jurisdictions. As we expand our international activities, our exposure to unauthorized use, copying, transfer, and disclosure of proprietary information will likely increase. We may need to expend additional resources to protect, enforce or defend our intellectual property or other proprietary rights domestically or internationally, which could adversely affect our business, financial condition, results of operations, and prospects or adversely affect our domestic or international operations.

Our trademarks are valuable assets that support our brand, the perception of our platform and products, and distinguish our platform and products from those of our competitors. However, third parties may use trademarks and branding similar to ours, and we may not be able to adequately prevent such practices, which could harm the value of our business, result in the abandonment, dilution, or invalidity of trademarks associated with our business and adversely affect our results of operations, financial condition or prospects. Furthermore, third parties may claim that we have violated their trademark protections and seek substantial damages and/or injunctive relief. We may not prevail and could be subject to substantial damages and/or be foreclosed from using our trademarks. If we do prevail, we may spend significant resources having to defend our trademarks. Heightened competitive pressures that result in a loss of riders or a reduction in revenues or revenue growth rates, or failure to successfully maintain, defend, enforce, and enhance our brand and substantial expenses in attempts to maintain, defend, enforce and enhance our brand, could also adversely effect on our business, financial condition, results of operations, and prospects.

We have filed, and may in the future file, applications to protect certain of our innovations and intellectual property, including potentially seeking patent protection for any of our inventions. We do not know whether any of our applications will continue to result in the issuance of a patent, or effective registration of our trademarks or copyrights in our content and proprietary coding, as applicable, or whether the examination process will require us to narrow any proposed patent claims. In addition, we may not receive competitive advantages from the rights granted under our intellectual property or other proprietary rights. In certain instances, we may choose not to file a patent for certain inventions, instead choosing to rely on trade secret protection or know-how, and a third party may subsequently file a patent covering such intellectual property. Our existing intellectual property and proprietary rights, and any intellectual property granted to us, or that we otherwise acquire in the future, may be contested, circumvented, or invalidated, or may otherwise not be enforceable or sufficiently broad in scope. Therefore, the adequacy and exact effect of the protection of these intellectual property and proprietary rights cannot be predicted with certainty. In addition, given the costs, effort, and risks of obtaining patent protection, including the requirement to ultimately disclose the invention to the public, we may continue not to choose to seek patent protection for certain innovations. Further, the United States Patent and Trademark Office requires compliance with a number of procedural, documentary, fee payment, and other similar provisions during the patent and trademark registration process and after a registration has issued. For example, there are situations in which noncompliance can result in abandonment or cancellation of a patent or trademark filing, resulting in partial or complete loss of patent or trademark rights in the relevant jurisdiction or otherwise diminishing the value of our intellectual property and other proprietary rights. Any failure to comply with such requirements, or to otherwise adequately obtain patent protection, or other intellectual property protection, could later prove to adversely impact our business, financial condition, results of operations, and prospects.

We enter into confidentiality and invention assignment agreements with our employees, contractors, and consultants and enter into confidentiality agreements with our third-party technology providers and strategic partners. These confidentiality agreements are designed to protect our proprietary information and, in the case of agreements or clauses containing invention assignment, to grant us ownership of technologies that are developed through a relationship with employees or third parties. However, we may not have entered into confidentiality and invention assignment agreements with each of our employees, independent contractors, consultants, vendors, or other third parties, or we may not have fulfilled the requirements of such agreements such that we cannot enforce them, or such agreements may otherwise not be self-executing. In addition, no assurances can be given that those agreements will not be

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breached or that these agreements will be effective in controlling access to, and use and distribution of, our intellectual property and other proprietary, confidential, or sensitive information. Further, agreements with us may be ineffective in transferring us ownership of intellectual property developed by those individuals. We may in the future become subject to claims that we or our employees have inadvertently or otherwise used or disclosed trade secrets or other proprietary information of former employers. Litigation may be necessary to defend against these claims. If we fail in defending such claims, we may be forced to pay substantial monetary damages or be enjoined from using certain technology, aspects of our platform, aspects of our programs, or knowledge. Even if we are successful in defending against these claims, litigation could result in substantial costs and demand on management resources. Moreover, these agreements do not prevent our competitors from independently developing technologies that are substantially equivalent or superior to our offerings, without infringing our intellectual property or other proprietary rights. Competitors and other third parties may also attempt to access, aggregate, and/or reverse engineer our data which would compromise our trade secrets and other rights. The loss of our intellectual property or the inability to protect our proprietary technology against unauthorized copying or use could adversely affect our business, financial condition, results of operations, and prospects.

We may also enter into strategic collaboration relationships, joint development, and other similar agreements with third parties where intellectual property arising from such engagements may be allocated or licensed between the parties, or may be jointly-owned. Determining inventorship and ownership of technologies and intellectual property and other proprietary rights resulting from development activities can be difficult and uncertain. Such arrangements may limit our ability to protect, maintain, enforce, or commercialize such intellectual property and other proprietary rights, including requiring agreement with or payment to our joint development partners before protecting, maintaining, licensing, or initiating enforcement of such intellectual property and other proprietary rights, and may allow such joint development partners to register, maintain, enforce, or license such intellectual property and other proprietary rights in a manner that may affect the value of the jointly-owned intellectual property or our ability to compete in the market. Disputes may arise with third parties regarding ownership of and rights to use, protect and enforce these technologies and intellectual property or other proprietary rights, or regarding the interpretation of our agreements with these third parties, and these disputes may result in claims against us or claims that certain intellectual property or other proprietary rights are not owned by us, are not enforceable, or are invalid. The cost and effort to resolve these types of disputes, or the loss of rights in technologies in intellectual property or other proprietary rights if we lose these types of disputes, could harm our business and financial condition. In addition, third parties may suffer delays, quality issues, or other problems affecting their development activities and ability to supply us with certain technology and intellectual property, which could adversely affect our business, financial condition, results of operations, and prospects.

Moreover, even where we have effectively secured statutory protection for our intellectual property or other proprietary rights, our competitors and other third parties may infringe on, misappropriate, or otherwise violate our intellectual property or other proprietary rights, which could weaken our competitive position and erode our market share. We may be required to spend significant resources in order to monitor and protect our intellectual property or other proprietary rights, and we may or may not be able to detect infringement, misappropriation, or other violation by third parties. Litigation has been and may be necessary in the future to enforce our intellectual property rights and to protect our trade secrets. Such litigation could be costly, time-consuming, difficult to predict and distracting to management and could result in the impairment or loss of portions of our intellectual property. Our efforts to enforce our intellectual property or other proprietary rights may be met with defenses, counterclaims, and countersuits attacking the scope, validity and enforceability of our intellectual property or other proprietary rights, or our ownership thereof. An adverse determination of any litigation proceedings could put our intellectual property at risk of being invalidated, interpreted narrowly, or of not issuing or being cancelled. Our inability to protect our intellectual property and proprietary technology against unauthorized copying or use, as well as any costly litigation or diversion of our management's attention and resources, could impair the functionality of our platform, delay introductions of enhancements to our platform, result in our substituting inferior or more costly technologies into our platform and/or substantial damages or penalties (including

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treble damages for willful patent infringement), or harm our reputation or brand. There could also be public announcements of the results of hearings, motions, or other interim proceedings or developments. If securities analysts or investors perceive these results to be negative, it could adversely affect the price of our common stock. In addition, we may be required to license additional technology from third parties to develop new offerings, which may not be on commercially reasonable terms, or at all, and could adversely affect our ability to compete. Our inability to license this technology could harm our ability to compete and have a material and adverse effect on our business, financial condition, results of operations, and prospects.

The technology industry has also been subject to attempts to steal intellectual property, including by foreign actors. We, along with others in our industry, may be subject to attempted thefts of our intellectual property in the future. Although we take measures to protect our property, if we are unable to prevent the theft of our intellectual property or its exploitation, the value of our investments may be undermined and our business, financial condition, results of operations, and prospects may be adversely affected.

**Risks Related to Legal and Regulatory Matters**

***We are regularly subject to claims from riders or third parties that allege injury or harm, which could adversely affect our brand, business, financial condition, results of operations, and prospects.***

We are regularly subject to claims, litigation, investigations, and other legal proceedings relating to injuries to, or deaths of, riders or third parties. This includes claims alleging, among other things, product defect, design defect, manufacturing defect, failure to warn, negligent maintenance, negligent entrustment for harm to third parties caused by a rider, public nuisance or trespass, Americans with Disabilities Act violations alleging, for example, injury from tripping over a vehicle or vehicles blocking public access, or that we are directly or vicariously liable for harm to riders or third parties. In addition, the terms of many of our permits require that we provide a defense and indemnity to the city against certain allegations relating to Lime's operations in that city, including in certain instances allegations arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. Although we advise platform users of local requirements, including applicable helmet laws, and, in some cases, may provide helmets or promotional codes for helmets in accordance with local regulations, riders may not be technically proficient in using our offerings, and they may not know to wear, or intentionally choose not to wear, protective equipment designed to enhance the safety of such offerings, including helmets. Rider error, together with the failure to use protective equipment, increases the risk of injuries or death while using these offerings. Non-compliance with traffic laws, as well as urban hazards such as unpaved or uneven roadways, increases the risk and severity of potential injuries. In addition, we provide our offerings predominantly in metropolitan areas, where riders using our vehicles need to share, navigate, and at times contend with narrow and heavily congested roads occupied by cars, buses, and light rails, especially during peak "rush" hours, all of which heighten the potential of injuries or death. Riders using our e-scooters or e-bikes face a more severe level of injury in the event of a collision than that faced while riding in an automobile, given the less sophisticated, and in some cases absent, passive protection systems on e-scooters and e-bikes.

We have in the past, and expect in the future to incur substantial expenses in connection with these claims, including adverse judgments and awards and the costs of defense. We may choose to settle personal injury claims for reasons including expediency, protection of our reputation, and to avoid the uncertainty of litigation. We expect that expenses for claim and litigation related to personal injury claims will increase — both the costs of defense and adverse judgments, awards or settlements — as our business grows and we face increasing public scrutiny. Regardless of the outcome of any legal proceeding, injuries to, or deaths of, any riders or third parties have and could again in the future result in negative publicity and harm to our brand, reputation, business, financial condition, results of operations, and prospects. Our insurance policies and programs, which include self-insured retentions, may not provide sufficient coverage to adequately mitigate the liability we face, especially where any one incident, or a group of incidents, could cause disproportionate harm, and we may have to pay high premiums or

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deductibles for our coverage and, for certain situations and/or categories of claims, we may not be able to secure coverage at all.

***Our vehicles may experience issues from time to time, which could result in recalls or removal from service, injuries, litigation, enforcement actions, class actions, and regulatory proceedings, and could adversely affect our business, brand, reputation, financial condition, results of operations, and prospects.***

We design and contract to manufacture with third parties, and directly and indirectly modify, maintain, and repair, our fleet of e-scooters and e-bikes. Such e-scooters and e-bikes have in the past and may in the future contain product issues related to their design, materials, or construction, may be improperly maintained or repaired, or may be subject to vandalism. Because we contract with third parties to manufacture our vehicles, we have less visibility into and control over the manufacturing processes than if we manufactured them ourselves. These product issues could interfere with the intended operations of our e-scooters or e-bikes, which could result in safety concerns, including allegations of injuries to riders or third parties. In response, we have taken action to replace, modify, increase maintenance frequency, or limit the use of such products, and may need to do so in the future. There can be no assurance that our procedures will be able to detect, prevent, or fix all product issues.

Failure to detect, prevent, fix, or timely report real or perceived product issues and vandalism or to properly maintain or repair our e-scooters and e-bikes could result in a variety of consequences, including recalls and removal from service, service interruptions, injuries, litigation, enforcement actions, including substantial damages, fines and penalties, regulatory proceedings, required changes to our product, and negative publicity. Even if injuries to riders or third parties are not the result of any product issues in, vandalism of, or the failure to properly maintain or repair our e-scooters or e-bikes, we may incur expenses to defend or settle any claims or respond to regulatory inquiries, and our brand and reputation may be harmed. In addition, the battery packs in our vehicles use lithium-ion cells. Lithium-ion cells can rapidly release the energy they contain by venting smoke and flames in a manner that can cause burns and other injuries or ignite nearby materials, as well as other lithium-ion cells. We take certain precautions to reduce the risks of such events, but we cannot guarantee that such events will not occur. Any of the foregoing risks could also result in decreased usage of our vehicles and adversely affect our business, brand, reputation, financial conditions, results of operations, and prospects.

While we carry general liability insurance worldwide that is intended to cover incidents associated with Lime vehicles, and product liability insurance that is intended to insure against injuries sustained by riders on our vehicles, these claims may exceed that coverage and/or may ultimately damage our reputation or decrease ridership, any of which could materially impact our business, financial condition, results of operations, and prospects. We cannot be certain that our insurance coverage will be adequate for such liabilities, that insurance will continue to be available to us on commercially reasonable terms, or at all, or that any insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases, increases to self-insured retentions, or the imposition of large deductible or co-insurance requirements, or the inability to obtain insurance coverage at all could adversely affect our reputation, brand, business, financial condition, results of operations, and prospects.

***We rely on third-party insurance policies to insure against risks related to our business. If insurance carriers change the terms of such insurance in a manner not favorable to us, if our insurance coverage is insufficient, if we are required to purchase additional insurance, if regulations governing insurance coverages change, or if our insurance providers are unable or unwilling to meet their obligations, our business, financial condition, results of operations, and prospects could be adversely affected.***

We rely on a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability,

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excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

We rely on a limited number of insurance carriers, particularly for our business and micromobility-related risks. If our insurance carriers discontinue coverage or change the terms of our policies in a manner not favorable to us by increasing premiums, deductibles, or self-insured retentions, we could be liable for significant additional costs. We cannot guarantee that we would be able to secure replacement coverage on reasonable terms or timelines, or at all. In addition, we may not obtain enough insurance to adequately mitigate such business and micromobility-related risks or risks related to our new and evolving offerings, and we may have to pay high premiums, deductibles or self-insured retentions for coverage we do obtain.

If the amount of one or more business or micromobility-related claims exceed our applicable aggregate coverage limits, we would bear the excess costs, in addition to the amounts already incurred in connection with premiums paid, deductibles, or self-insured retentions. Certain losses may be excluded from insurance coverage. For example, the terms of many of our permits require that we provide a defense and indemnity to a city against certain allegations relating to Lime's operations in that city, including in certain instances arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. Our insurance excludes coverage for claims that are only against the city, where Lime is not a named party.

In addition, we are subject to local laws, rules, and regulations relating to insurance coverage. If regulators require more comprehensive insurance or alter the types of insurance required, we may incur additional expenses. For example, in certain countries our vehicles are classified as motor vehicles, and in those countries our premiums are higher than countries where our vehicles are not classified as such. Increasing the breadth of coverage and coverage limits would increase our insurance and claims expenses.

Additionally, if any of our insurance carriers becomes insolvent, it would be unable to pay any business or micromobility-related claims that we make.

***Our insurance claims reserve may be inadequate, which could adversely affect our business, financial condition, results of operations, and prospects.***

We establish a claims reserve for unpaid losses and loss adjustment expenses for risks retained by us through our retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. We employ various predictive modeling and actuarial techniques and make numerous assumptions based on available historical experience and industry statistics to estimate our claims reserve.

While management believes that our claims reserve amounts are adequate, the ultimate liability could be in excess of our claims reserves. A number of external factors can affect the losses incurred, including but not limited to, claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. If we determine that our estimated claims reserve is inadequate, we may be required to increase such claims reserve at the time of the determination, which could negatively impact our financial results in the period in which the shortfall is determined and adversely affect our business, financial condition, results of operations, and prospects.

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***We are regularly subject to claims, litigation, government investigations, and other proceedings that may adversely affect our business, financial condition, results of operations, and prospects.***

We are regularly subject to claims, litigation, arbitration proceedings, government and regulatory investigations, and other legal and regulatory proceedings in the ordinary course of business, including those involving product liability and personal injury, property damage, labor and employment, worker classification, anti-discrimination, commercial disputes, competition, consumer complaints, intellectual property disputes, compliance with regulatory requirements, class actions, representative actions (including those brought under PAGA), and other matters, and we may become subject to additional claims, litigation, government investigations, and legal or regulatory proceedings as our business grows and as we deploy new offerings or enter new cities, including proceedings related to acquisitions, data privacy, intellectual property, advertising, securities issuances, or business practices.

The results of any such claims, litigation, class actions, regulatory actions, or other proceedings cannot be predicted with any certainty. Any claims against us, whether meritorious or not, could be time-consuming, result in costly litigation, be harmful to our reputation, require significant management attention, divert significant resources, and result in significant monetary awards, potential injunctive relief or consent decrees, or other remedies. Determining reserves for our pending litigation is a complex and fact-intensive process that requires significant subjective judgment and speculation. It is possible that a resolution of one or more such proceedings could result in substantial damages or settlement costs, penalties, and fines that could adversely affect our business, financial condition, results of operations, and prospects. These proceedings could also result in harm to our reputation and brand, sanctions, consent decrees, injunctions, or other orders requiring a change in our business practices. Any of these consequences could adversely affect our business, financial condition, results of operations, and prospects. Furthermore, under certain circumstances, we have contractual and other legal obligations to indemnify and to incur legal expenses on behalf of our business, commercial, and government partners and current and former directors and officers. For example, the terms of many of our permits require that we provide a defense and indemnity to the city against certain allegations relating to Lime's operations in that city, including in certain instances allegations arising from factors outside of Lime's control, including, for example, road conditions or other city infrastructure. We do not carry insurance coverage for claims that are only against the city, where Lime is not a named party. Furthermore, a determination in, resolution of, or settlement of, any threatened action or legal proceeding, whether we are party to such legal proceeding or not, that involves our industry, could harm our business, financial condition, results of operations, and prospects.

In addition, we regularly include arbitration provisions in our terms of service with our riders, and seek to compel arbitration in many of our litigations. These provisions are intended to streamline the litigation process for all parties involved, as arbitration can be faster and less costly than litigating disputes in state or federal court. Although we have generally been successful in enforcing our arbitration provisions, a court or arbitrator could rule them unenforceable as these are regularly contested by plaintiff's counsel. Arbitration agreements also could subject us to reputational risks as arbitration agreements sometimes have been the subject of negative media reports. If the number of arbitrations increased significantly, the arbitration fees that we would be required to pay would become more costly and burdensome. We may choose to limit or abandon our use of arbitration agreements or may be required to do so in legal proceedings or per our city permits, which could result in increased exposure to potentially costly and burdensome litigation, which could adversely affect our business, financial condition, results of operations, and prospects.

***We have faced and are likely to continue to face litigation and administrative penalties from local governmental entities, municipalities, and private citizens related to the parking of our vehicles.***

We have been, and expect to continue to be, involved in claims, litigation (judicial and administrative), arbitration, and other actions brought by governmental entities, municipalities, and private citizens alleging a variety of causes of actions, including among other things, failure to operate with proper local permits, public nuisance, trespass, and Americans with Disabilities Act violations related to the

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placements or inappropriate parking of our vehicles on public and private property, interfering with others' use and enjoyment of, and access to, public and private property, and personal injuries and property damages caused by such placement. The defense of these matters and associated outlays has and could continue to significantly increase our operating expenses. In addition, if we are determined to have violated applicable law or regulation, or we settle or compromise these disputes, we may become required to change our operations or offerings in certain cities or globally, to change material components of our business strategy, to cease operations in one or more cities, and/or to pay substantial damages or fines. In the event that we are required to take one or more such actions, our business, financial condition, results of operations, and prospects could be adversely affected. In addition, any litigation or claims, whether or not valid, could result in substantial costs, negative publicity, and diversion of resources and management attention.

***Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, gross receipts, value added, or similar taxes and may successfully impose additional obligations on us, and any such assessments or obligations could adversely affect our business, financial condition, results of operations, and prospects.***

The application of indirect taxes, such as sales and use tax, payroll tax, value-added tax, goods and services tax, business tax, and gross receipts tax, to businesses like ours is a complex and evolving issue. Many of the fundamental statutes and regulations in U.S. and non-U.S. jurisdictions, and subdivisions thereof, that impose these taxes were established before the adoption and growth of the Internet and e-commerce. Significant judgment is required on an ongoing basis to evaluate applicable tax obligations, and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination is uncertain because it is not clear how new and existing statutes might apply to our business.

In addition, local governments are increasingly looking for ways to increase revenue, which has resulted in discussions about tax reform and other legislative action to increase tax revenue, including through indirect taxes and fees. Such taxes and fees could adversely affect our business, financial condition, results of operations, and prospects.

In certain jurisdictions, we collect and remit indirect taxes. However, tax authorities may raise questions about, challenge, or disagree with our calculation, reporting, or collection of taxes and may require us to collect taxes in jurisdictions in which we do not currently do so or to remit additional taxes and interest, and could impose associated penalties. This could result in substantial tax liabilities, including taxes on past transactions, as well as penalties and interest, and could discourage riders from utilizing our offerings or could otherwise harm our business, financial condition, results of operations, and prospects. Although we have reserved for potential payments of possible past tax liabilities in our financial statements, if these liabilities exceed such reserves, our business, financial condition, results of operations, and prospects could be adversely affected.

Additionally, authorities in countries, states, localities, or other taxing jurisdictions may seek to impose additional reporting, record-keeping, or indirect tax collection obligations on businesses like ours. For example, taxing authorities in the United States and other countries have identified e-commerce platforms as a means to calculate, collect, and remit indirect taxes for transactions taking place over the Internet, and are considering related legislation. New legislation may require us to incur substantial costs in order to comply, including costs associated with tax calculation, collection, remittance, and audit requirements, which could make our offerings less attractive and could adversely affect our business, financial condition, results of operations, and prospects.

As a result of these and other factors, the ultimate amount of tax obligations owed may differ from the amounts recorded in our financial statements and any such difference may adversely impact our financial condition and results of operations in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.

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***Failure to deal effectively with fraud could harm our business.***

We have in the past incurred, and may in the future incur, losses from various types of fraud, including use of stolen or fraudulent credit card data, claims of unauthorized payments by riders, attempted payments by riders with insufficient funds, and other fraud committed by riders or third parties. Bad actors use increasingly sophisticated methods to engage in illegal activities, including those involving personal information, such as unauthorized use of another person's identity, account information, or payment information, and unauthorized acquisition or use of credit or debit card details, bank account information, and mobile phone numbers and accounts. Under current card payment practices, we may be liable for rides facilitated on Lime with fraudulent credit card data, even if the associated financial institution approved the credit card transaction. Despite measures that we have taken to detect and reduce the occurrence of fraudulent or other malicious activity on Lime, we cannot guarantee that any of our measures will be effective or will scale efficiently with our business. Our inability to adequately detect or prevent fraudulent transactions could harm our reputation or brand, result in litigation or regulatory action and lead to expenses that could adversely affect our business, financial condition, results of operations, and prospects.

We have also incurred, and may in the future incur, losses from fraud, and other misuse of Lime by riders, such as vehicle theft or hijacking resulting in unpaid trips or vandalism. For example, we have experienced and could continue to experience lost revenue from actual and alleged unauthorized rides fulfilled and distance traveled. If we are unable to adequately anticipate and address such misuse either through increased controls or other means, our business, financial condition, results of operations, and prospects could be adversely affected.

***Changes in laws or regulations relating to data privacy, data protection, or the protection or transfer of personal data, or any actual or perceived failure by us to comply with such laws and regulations or any other obligations relating to data privacy, data protection, or the protection or transfer of personal data, could adversely affect our business, financial condition, results of operations, and prospects.***

We collect, receive, transmit, store, and otherwise process a large volume of personal information (such as names, trip and location data, e-mail addresses, telephone numbers, government-issued identification, device IP addresses, and payment information) and other data relating to our riders and logistics providers in order to operate our business. We also share rider data with cities, local authorities, and public transport operators if contractually required for us to operate in certain cities.

Numerous local, municipal, state, federal, and international laws and regulations address data privacy, data protection, and the collection, storing, sharing, use, disclosure, and protection of certain types of data, including the California Online Privacy Protection Act, the Personal Information Protection and Electronic Documents Act, Section 5(c) of the Federal Trade Commission Act, and the California Consumer Privacy Act, as amended by the California Privacy Rights Act (collectively, "CCPA"), and the EU General Data Protection Regulation ("EU GDPR") and the U.K. Data Protection Act of 2018 ("UK GDPR") (the EU GDPR and the UK GDPR together referred to as the "GDPR"). Data protection laws may be broadly construed, impose administrative burdens, permit private rights of action, and/or continually change and may be inconsistent from one jurisdiction to another. For example, the CCPA requires certain disclosures to California consumers and affords such consumers certain data rights and abilities to opt-out of certain sharing of personal information. The GDPR is wide-ranging in scope and imposes numerous obligations in relation to our collection and use of personal information, including a principle of accountability and the obligation to demonstrate compliance through policies, procedures, trainings and audits, as well as regulating cross-border transfers of personal data out of the European Economic Area ("EEA"). In relation to such cross-border transfers of personal data, we expect the existing legal complexity and uncertainty regarding international personal data transfers to continue. As the regulatory guidance and enforcement landscape in relation to data transfers continue to develop, we could suffer additional costs, complaints or regulatory investigations or fines; we may have to stop using certain tools and vendors and make other operational changes; we may have to implement alternative data transfer

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mechanisms under the GDPR or take additional compliance and operational steps; or it could otherwise affect the manner in which we provide our offerings and could adversely affect our business, financial condition, results of operations, and prospects.

An increasing number of states in the United States, including states where we do business, have enacted legislation relating to data privacy and cybersecurity, and the U.S. federal government and other states are also contemplating federal and state data privacy legislation. These new and modified laws, including the CCPA, and other changes in laws or regulations relating to data privacy, data protection, and cybersecurity, particularly any new or modified laws or regulations that require enhanced protection of data or new obligations with regard to data retention, transfer, disclosure or other processing, could greatly increase the cost of operating our business, require significant changes to our operations and our data processing practices and policies, may require us to incur additional compliance-related costs and expenses, and may even prevent us from operating in jurisdictions in which we currently operate and in which we may operate in the future. Further, as we continue to expand into new geographies, we will become subject to additional data privacy-related laws and regulations.

Additionally, we have incurred, and expect to continue to incur, significant expenses in an effort to comply with data privacy, data protection, and cybersecurity standards imposed by law, regulation, or contractual obligations. In particular, with laws and regulations such as the GDPR and U.S. state data privacy laws imposing new and relatively burdensome obligations, and with substantial legal and regulatory uncertainty over the interpretation and application of the CCPA, the GDPR, and other laws and regulations, we may face challenges in addressing their requirements and making necessary changes to our policies and practices, and may incur significant costs and expenses in an effort to do so. As we consider continued expansion into additional cities and countries and as laws and regulations change, we expect to incur additional compliance costs related to data privacy, data protection, and cybersecurity standards and protocols imposed by laws, regulations, rules, standards, or contractual obligations related to such expansion and face additional risks that such expansion could be inconsistent with, or fail, or be alleged to fail to meet all requirements of such laws, regulations, or obligations.

Despite our efforts to comply with applicable laws, regulations, rules, standards, and other obligations relating to data privacy, data protection, and cybersecurity, these laws, regulations, rules and standards are in some cases relatively new and the interpretation and application of these laws, regulations, rules and standards are uncertain. As such, our practices or offerings could be, or could be perceived to be, inconsistent with, or fail or be alleged to fail to meet the requirements of, such laws, regulations, rules, standards or obligations. Data privacy regulators have from time to time asked us for information about our practices and it is possible that they could ask further questions, open a formal investigation or prevail in an action against us. Our failure, or the failure by our partners, to comply with applicable laws, regulations, rules, standards or other actual or asserted obligations relating to data privacy, data protection, or cybersecurity, or any compromise of cybersecurity that results in unauthorized access to, or unauthorized loss, unavailability, corruption, use, exfiltration, release, or other processing of information or other rider data, or the perception that any of the foregoing types of failure or compromise has occurred, could damage our reputation, discourage new and existing riders from using Lime, or result in investigations or proceedings by governmental agencies, orders to cease or change our data processing activities, enforcement notices, assessment notices for a compulsory audit, criminal penalties and other substantial claims, penalties or fines, and private claims and litigation (including class actions), any of which could require us to fundamentally change our business activities, modify our platform or offerings, or otherwise adversely affect our business, financial condition, results of operations, and prospects. Because we are under the supervision of relevant data protection authorities in both the EEA and the UK, we may be fined under both the EU GDPR and UK GDPR for the same breach. Furthermore, we may also be required to disclose personal information pursuant to demands from individuals, regulators, government authorities, and law enforcement agencies in a variety of jurisdictions with conflicting laws and regulations. Such disclosure may result in adverse media coverage or noncompliance with a rule or regulation. Additionally, the perception of concerns relating to data privacy, data protection, or

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cybersecurity, whether or not valid, may harm our reputation and brand and adversely affect our business, financial condition, results of operations, and prospects.

***Illegal, improper or otherwise inappropriate activity of riders, whether or not occurring while using our vehicles, could impact our ability to obtain or maintain permits, expose us to liability and harm our business, brand, financial condition, results of operations, and prospects.***

From time to time, illegal, improper, or otherwise inappropriate activities by riders and guest riders in violation of our user agreement, including the activities of individuals who may have previously engaged with, but are not then receiving offerings offered through Lime, results in injuries to themselves or third parties and claims or litigation against us, and could adversely affect our brand, business, financial condition, results of operations, and prospects. For example, actions of our riders and guest riders, including assault, theft, reckless riding, riding under the influence, improper parking of vehicles, unauthorized use of credit cards, debit cards, or bank accounts, sharing of rider accounts, and other misconduct, could lead to violations of our permit requirements, and damage to our brand and reputation. Repeated inappropriate rider behavior could significantly impact relationships with cities, which could adversely impact our ability to continue operating in that city. For example, cities may limit the number of our vehicles that are allowed to operate, suspend our service offering, and/or revoke any permits or licenses. These inappropriate rider behaviors could also lead other riders, cities, and the general public to believe that our vehicles are not safe or are a nuisance, which would harm our reputation. Further, any negative publicity related to the foregoing, whether such incidents occurred with our vehicles or those of our competitors, could adversely affect public perception of the shared micromobility industry as a whole, which could adversely affect the demand for our vehicles, and potentially lead to increased regulatory or litigation exposure.

***Any failure to comply with export controls and economic sanctions laws and regulations of the United States and applicable international jurisdictions could materially adversely affect our reputation, business, financial condition, results of operations, and prospects.***

Our business must be conducted in compliance with applicable export controls and economic and trade sanctions laws and regulations, such as those administered and enforced by the U.S. Department of Treasury's Office of Foreign Assets Control, the U.S. Department of State, the U.S. Department of Commerce, the United Nations Security Council, and other relevant export controls and sanctions authorities in which we conduct business activities. Our global operations expose us to the risk of violating, or being accused of violating, export controls, and economic and trade sanctions laws and regulations. Our failure to comply with these laws and regulations may expose us to reputational harm as well as significant penalties, including criminal fines, imprisonment, civil fines, disgorgement of profits, injunctions, and debarment from government contracts, as well as other remedial measures. Investigations of alleged violations can be expensive and disruptive regardless of outcome. Despite our compliance efforts and activities we cannot assure compliance by our employees or operational workforce for which we may be held responsible, and any such violation could materially adversely affect our reputation, business, financial condition, results of operations, and prospects.

***We are subject to anti-corruption, anti-bribery, anti-money laundering, and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business, financial condition, results of operations, and prospects.***

We are subject to the U.S. Foreign Corrupt Practices Act, U.S. domestic bribery laws, and other anti-corruption and anti-money laundering laws in the countries in which we conduct business activities (e.g. the UK Bribery Act), which include some countries known to experience high levels of corruption. Anti-corruption and anti-bribery laws are interpreted broadly to generally prohibit companies, their employees, and their third-party intermediaries from authorizing, offering, or providing, directly or indirectly, improper payments or benefits to recipients in the public or private sector. Our current and future business operations involve regular engagement with business partners, third-party intermediaries, officials, and employees of government agencies or state-owned or affiliated entities to market our offerings and to

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obtain necessary permits, licenses, and other regulatory approvals. We can potentially be investigated and/or held liable for the corrupt or other illegal activities of these third-party intermediaries, our employees, representatives, contractors, partners, and agents, even if we do not explicitly authorize such activities. Despite our compliance efforts and activities, we cannot assure you that all of our employees and agents will not take actions in violation of anti-corruption laws, for which we may be ultimately held responsible, or that our compliance program will be capable of timely detecting and/or avoiding such actions, if at all. As we expand our business and increase our international business, our risks under these laws may increase.

Detecting, investigating, and resolving actual or alleged violations of anti-corruption laws can require a significant diversion of time, resources, and attention from senior management. In addition, noncompliance with anti-corruption, anti-bribery, or anti-money laundering laws could subject us to whistleblower complaints, investigations, sanctions, settlements, prosecution, enforcement actions, fines, damages, other civil or criminal penalties or injunctions, suspension or debarment from contracting with certain persons, reputational harm, adverse media coverage, and other collateral consequences. If any subpoenas or investigations are launched, or governmental or other sanctions are imposed, regardless of whether we prevail in any subsequent civil or criminal proceeding, our business, financial condition, results of operations, and prospects could be adversely affected. In addition, responding to any action will likely result in a materially significant diversion of management's attention and resources and significant defense costs and other professional fees regardless of outcome.

**General Risk Factors**

***We may require additional capital, which may not be available on terms acceptable to us or at all.***

The growth of our business and our fleets are capital and operations intensive. Historically, we have funded our capital-intensive operations and capital expenditures primarily through equity, equity-linked and debt issuances and cash generated from our operations. To support our growing business, we must have sufficient capital to continue to make significant investments in our offerings. If we raise additional funds through the issuance of equity, equity-linked, or debt securities, those securities may have rights, preferences, or privileges senior to those of our common stock, and our existing stockholders may experience dilution. Any debt financing secured by us, and any financing secured in the future could, involve restrictive covenants relating to our capital-raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities.

We evaluate financing opportunities from time to time, and our ability to obtain financing will depend, among other things, on our development efforts, business plans, operating performance, and the condition of the capital markets at the time we seek financing. Additionally, uncertain and volatile macroeconomic conditions, including economic instability or uncertainty, and other events, such as slowing growth in the worldwide economy, inflation, and high interest rates, as well as the instability and volatility in the banking and financial services sector, and the war in Ukraine and in the Middle East, have adversely affected the financing markets, and may impact our access to capital, and make additional capital more difficult or available only on terms less favorable to us. We cannot be certain that additional financing will be available to us on favorable terms, or at all. If we are unable to obtain adequate financing or financing on terms satisfactory to us, when we require it, our ability to continue to support our business growth and to respond to business challenges could be significantly limited, and our business, financial condition, results of operations, and prospects could be adversely affected.

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***We have incurred a significant amount of debt and may in the future incur additional indebtedness. Our payment obligations under such indebtedness may limit the funds available to us, and the terms of our current or future debt agreements contain or will contain restrictive covenants that may limit our operating flexibility.***

As of March 31, 2026, the total principal amount of our outstanding indebtedness, inclusive of payment in kind interest ("PIK interest"), was $821.1 million. We issued $536.1 million aggregate principal amount of the 2021 Notes (as defined below), inclusive of PIK interest, and approximately $170.0 million aggregate principal amount of the 2020 Notes (as defined below), which, in each case, we expect will be converted into shares of our common stock in connection with this offering in accordance with their terms, and had an aggregate principal amount of $115.0 million in borrowings under the Senior Secured Term Loan (as defined below) as of March 31, 2026. Upon the completion of this offering, we intend to enter into the $200.0 million Revolving Credit Facility, which we may draw on at any time, subject to customary terms and conditions. Subject to the limitations in the terms of our existing and future indebtedness, we and our subsidiaries may incur additional debt, secure existing or future debt, or refinance our debt.

We intend to use a portion of the net proceeds of this offering to repay all amounts outstanding under the Senior Secured Term Loan. We will be required to use a portion of our future cash flows from operations to pay interest and principal on our remaining and future indebtedness. Such payments will reduce the funds available to use for working capital, capital expenditures, and other corporate purposes, and limit our ability to obtain additional financing for working capital, capital expenditures, expansions plans, and other investments, which may in turn limit our ability to implement our business strategy, heighten our vulnerability to downturns in our business, the industry, or in the general economy, and prevent us from taking advantage of business opportunities as they arise.

In addition, the Revolving Credit Facility is expected to contain, and future debt agreements may contain, restrictive covenants, that, among other things, limit our ability to transfer or dispose of assets, merge with other companies or consummate certain changes of control, acquire other companies, incur additional indebtedness and liens, make investments, pay dividends or distributions and repay junior indebtedness and enter into new businesses. We therefore may not be able to engage in any of the foregoing transactions unless we obtain the consent of the lenders under the Revolving Credit Facility or future debt agreements, which may limit our operating flexibility. Any inability to comply with the terms of the Revolving Credit Facility or any future debt agreement, including failing to make scheduled payments or to meet the financial covenants, would adversely affect our business, financial condition, results of operations, and prospects. For example, a breach of any of the covenants in the Revolving Credit Facility could result in an event of default, which could trigger acceleration of our indebtedness and may result in the acceleration of or default under other debt we may incur in the future, which could have a material adverse effect on our business, financial condition, results of operations, and prospects. In the event of such event of default under the Revolving Credit Facility, the administrative agent or the applicable lenders could elect to terminate their commitments and declare all outstanding loans, together with accrued and unpaid interest and any fees and other obligations, to be due and payable, and/or exercise their rights and remedies under the loan documents governing the Revolving Credit Facility or any applicable law. Our obligations under the Revolving Credit Facility are expected to be secured by liens on substantially all of our assets and any material domestic subsidiaries formed or acquired in the future may need to guarantee our obligations under the Revolving Credit Facility.

***We may be unable to enter into our Revolving Credit Facility and may be unable to obtain financing or enter into a credit facility on acceptable terms or at all in the future.***

We are currently in the process of negotiating the Revolving Credit Facility with JPMorgan Chase Bank, N.A., and other unaffiliated third-party lenders. However, depending on the impact of then-prevailing economic conditions and financial, business, regulatory and other factors, some of which are beyond our control, there can be no assurances that we will be able to enter into the Revolving Credit Facility or any other debt agreements in the future. Additionally, entering into the Revolving Credit Facility will require, among other things, the following, none of which are assured: (i) the continued negotiation,

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execution and delivery of the New Credit Agreement (as defined below) and all related documents and legal opinions; (ii) delivery of customary officer's certificates (including solvency and other closing certificates), financial information and organizational documents; (iii) payment of all fees and other amounts due to the lenders under the New Credit Agreement; and (iv) certain other customary conditions.

***Our metrics and estimates, including our key metrics, are subject to inherent challenges in measurement, and real or perceived inaccuracies in those metrics may harm our reputation and adversely affect our business, financial condition, results of operations, and prospects.***

We regularly review and may adjust our processes for calculating our metrics used to evaluate our growth, measure our performance, and make strategic decisions. For instance, we currently aggregate and analyze rider metrics based on geographic boundaries and designations that do not align with the municipal or district boundaries according to which permits are issued. These metrics are calculated using internal company data and have not been evaluated by a third party. For example, although our rider metrics treat London as a single city, our operations in London require obtaining and complying with several different permits within that market. Our metrics may differ from estimates published by third parties or from similarly titled metrics of our competitors due to differences in methodology or the assumptions on which we rely, and from time to time we have made adjustments to our processes for calculating our metrics in order to enhance accuracy, reflect newly available information, address errors in our models, or other reasons, and we may make material adjustments in the future, which may result in changes to our metrics. The estimates and forecasts we disclose relating to the size and expected growth of our market opportunity may prove to be inaccurate. Even if the markets in which we compete meet the size estimates and growth we have forecasted, our business could fail to grow at similar rates, if at all. Further, as our business develops, we may introduce, revise, or cease reporting certain metrics if we change how we manage our business such that new metrics are appropriate, if we determine that revisions are required to accurately or appropriately measure our performance, or if one or more metrics no longer represents an effective way to evaluate our business. If investors or analysts do not consider our metrics to be accurate representations of our business or compare our metrics to third-party estimates or similarly titled metrics of our competitors or others in our industry that are not calculated on the same basis, or if we discover material inaccuracies in our metrics, then the trading price of our common stock and our business, financial condition, results of operations, and prospects could be adversely affected.

***If we are unable to make acquisitions and investments, or successfully integrate them into our business, or if we enter into strategic transactions that do not achieve our objectives, our business, financial condition, results of operations, and prospects could be adversely affected.***

As part of our business strategy, we will continue to consider a wide array of potential strategic transactions, including acquisitions of businesses, new technologies, offerings, and other assets and strategic investments that complement our business, as well as partnerships and other transactions. We have previously acquired and invested in, and we continue to seek to acquire and invest in businesses, technologies, or other assets that we believe could complement or expand our business, including acquisitions of new lines of business, new geographies, and other opportunities that operate in relatively nascent industries. We also may explore investments in new technologies, which we may develop or other parties may develop. The identification, evaluation, and negotiation of potential acquisition or strategic investment transactions may divert the attention of management and entail various expenses, whether or not such transactions are ultimately completed. There can be no assurance that we will be successful in identifying, negotiating, and consummating favorable transaction opportunities. Additionally, if we are unable to obtain regulatory approval of any acquisitions, we may not ultimately consummate such acquisitions, may be required to pay termination fees or may consummate them only in jurisdictions where antitrust approval is obtained. Further, in order to obtain regulatory approval of acquisitions, we may be required to divest all or part of our or the target company's operations or agree to other remedies.

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These transactions involve numerous risks, any of which could harm our business and adversely affect our financial condition, results of operations, and prospects, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• intense competition for suitable acquisition targets, which could increase prices and adversely affect our ability to consummate deals on favorable or acceptable terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure or material delay in closing a transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transaction-related litigation or claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in integrating the technologies, operations, existing contracts, and personnel of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in retaining key employees or business partners of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• diversion of financial and management resources from existing operations or alternative acquisition opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to realize the anticipated benefits or synergies of a transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to identify the problems, liabilities, or other shortcomings or challenges of an acquired company or technology, including issues related to intellectual property, regulatory compliance practices, litigation, revenue recognition, or other accounting practices, or employee or rider issues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks that regulatory bodies may enact new laws or promulgate new regulations that are adverse to an acquired company or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• theft of our trade secrets or confidential information that we share with potential acquisition candidates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risk that an acquired company or investment in new offerings cannibalizes a portion of our existing business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse market reaction to an acquisition.

If we fail to address the foregoing risks or other problems encountered in connection with past or future acquisitions of businesses, new technologies, offerings, and other assets, strategic investments, or other transactions, or if we fail to successfully integrate such acquisitions or investments, or if we are unable to successfully complete other transactions or such transactions do not meet our strategic objectives, our business, financial condition, results of operations, and prospects could be adversely affected.

***Changes in U.S. and foreign tax laws could adversely affect our business, financial condition, results of operations, and prospects.***

We are subject to tax laws, regulations, and policies of the U.S. federal, state, and local governments and of taxing authorities in foreign jurisdictions. As various levels of governments and international organizations become increasingly focused on tax reform, changes in tax laws, as well as other factors, could cause us to experience fluctuations in our tax obligations and effective tax rates and otherwise adversely affect our tax positions and/or our tax liabilities. Further, the Organisation for Economic Co-operation and Development released "Pillar Two" model rules defining a 15% global minimum tax for large multinational companies. While the current U.S. administration has signaled push-back against this initiative, the Pillar Two framework has been implemented in the tax laws of many other jurisdictions. Any of these or other developments or changes in tax laws or rulings in jurisdictions in which we operate could adversely affect our effective tax rate, business, financial condition, results of operations, and prospects.

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***If we fail to maintain an effective system of disclosure controls or internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.***

As a public company, we will be subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act"), and the listing standards of Nasdaq. The Sarbanes-Oxley Act requires, among other things, that we maintain effective disclosure controls and procedures and internal control over financial reporting. We are continuing to develop and refine our disclosure controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we will file with the SEC is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms and that information required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal executive and financial officers. We are also continuing to improve our internal control over financial reporting, including to remediate a material weakness identified in connection with the preparation of our financial statements for the years ended December 31, 2023, 2024, and 2025. We have expended, and anticipate that we will continue to expend, significant resources in order to maintain and improve the effectiveness of our disclosure controls and procedures and internal control over financial reporting.

Our current controls and any new controls that we develop may become inadequate because of changes in the conditions in our business, including increased complexity resulting from any management of a large and distributed fleet and other physical assets, the high volume of transactions processed by our platform, international expansion, flexible work arrangements, new offerings, or strategic transactions, including acquisitions. Further, additional weaknesses or deficiencies in our disclosure controls or our internal control over financial reporting may be discovered in the future. Our disclosure controls and procedures or our internal control over financial reporting are not expected to prevent all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Due to inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected. Any failure to develop or maintain effective controls, or any difficulties encountered in their implementation or improvement, could harm our results of operations or cause us to fail to meet our reporting obligations and may result in a restatement of our financial statements for prior periods. Any failure to implement and maintain effective internal control over financial reporting could also adversely affect the results of periodic management evaluations and annual independent registered public accounting firm attestation reports regarding the effectiveness of our internal control over financial reporting that we will eventually be required to include in our periodic reports that will be filed with the SEC. Ineffective disclosure controls and procedures and internal control over financial reporting could also cause errors in our report and cause investors to lose confidence in our reported financial and other information, which would likely adversely affect the market price of our common stock. In addition, if we are unable to continue to meet these requirements, we may not be able to remain listed on Nasdaq. We are not currently required to comply with the SEC rules that implement Section 404 of the Sarbanes-Oxley Act and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose. As a public company, we will be required to provide an annual management report on the effectiveness of our internal control over financial reporting commencing with our second annual report on Form 10-K.

As an emerging growth company, our independent registered public accounting firm will not be required to formally attest to the effectiveness of our internal control over financial reporting until the date we are no longer an emerging growth company. At such time, our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our internal control over financial reporting is documented, designed, or operating. Any failure to maintain effective disclosure controls and internal control over financial reporting could have an adverse effect on our business, financial condition, results of operations, and prospects and could cause a decline in the market price of our common stock.

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***Our business, financial condition, results of operations, and prospects may be adversely affected by changes in accounting principles.***

The accounting for our business is subject to change based on the evolution of our business model, interpretations of relevant accounting principles, enforcement of existing or new regulations, and changes in policies, rules, regulations, and interpretations of accounting and financial reporting requirements of the SEC or other regulatory agencies. Adoption of a change in accounting principles or interpretations could have a significant effect on our reported results of operations and could affect the reporting of transactions completed before the adoption of such change. It is difficult to predict the impact of future changes to accounting principles and accounting policies over financial reporting, any of which could adversely affect our business, financial condition, results of operations, and prospects could require significant investment in systems and personnel.

***Our ability to use our U.S. net operating loss carryforwards and certain other tax attributes may be limited.***

Under Section 382 of the U.S. Internal Revenue Code of 1986, as amended (the "Code"), if a corporation undergoes an "ownership change," the corporation's ability to use its pre-change net operating loss carryforwards ("NOLs") to offset its post-change income may be limited. In general, an "ownership change" will occur if there is a cumulative change in our ownership by "5-percent shareholders" that exceeds 50 percentage points over a rolling three-year period. Limitations may also apply under state tax laws. Our ability to use NOLs to reduce future taxable income and liabilities may be subject to annual limitations as a result of prior ownership changes and ownership changes that may occur in the future, including as a result of this offering. Additionally, in June 2024, California enacted legislation that limits the use of state NOLs for tax years beginning on or after January 1, 2024, and before January 1, 2027. As a result of this legislation or other unforeseen reasons, we may not be able to utilize some or all of our NOLs even if we attain profitability. In addition, it is possible that we will not generate taxable income in time to use NOLs before their expiration, or at all.

The Tax Cuts and Jobs Act of 2017 (the "Tax Act"), as modified by the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), among other things, limited the use of NOLs arising in tax years beginning after December 31, 2017 to 80% of taxable income for tax years beginning after December 31, 2020. However, such NOLs may be carried forward indefinitely. Not all states conform to the Tax Act or CARES Act. In future years, if and when a net deferred tax asset is recognized related to our NOLs, these changes may significantly impact our valuation allowance assessments for NOLs generated after December 31, 2017.

***Operating as a public company requires us to incur substantial costs and requires substantial management attention. In addition, certain members of our management team have limited experience managing a public company.***

As a public company, we will incur substantial legal, accounting, and other expenses that we did not incur as a private company. For example, we are subject to the reporting requirements of the Exchange Act, the applicable requirements of the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform, and Consumer Protection Act, the rules and regulations of the SEC and the listing standards of Nasdaq. For example, the Exchange Act requires, among other things, that we file annual, quarterly, and current reports with respect to our business, financial condition, results of operations, and prospects. Compliance with these rules and regulations will increase our legal and financial compliance costs, and increase demand on our systems, particularly after we are no longer an emerging growth company. In addition, as a public company, we may be subject to stockholder activism, which can lead to additional substantial costs, distract management, and impact the manner in which we operate our business in ways we cannot currently anticipate. As a result of disclosure of information in the registration statement of which this prospectus forms a part and in filings required of a public company, our business and financial condition will become more visible, which may result in threatened or actual litigation, including by competitors. Furthermore, if any issues in complying with those requirements are identified, we may incur additional

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costs rectifying those or new issues, and the existence of these issues could adversely affect our reputation or investor perceptions of it.

Many members of our management team have limited experience managing a publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to public companies. Our management team may not successfully or efficiently manage our transition to being a public company subject to significant regulatory oversight and reporting obligations under the federal securities laws and the continuous scrutiny of securities analysts and investors. These new obligations and constituents will require significant attention from our senior management and could divert their attention away from the day-to-day management of our business, which could adversely affect our business, financial condition, results of operations, and prospects.

***We are exposed to fluctuations in currency exchange rates.***

We conduct a majority of our business in currencies other than the U.S. dollar but report our financial results in U.S. dollars. As a result, we face exposure to fluctuations in currency exchange rates. Fluctuations in foreign currency exchange rates against the U.S. dollar impact our revenue (exclusive of depreciation and amortization), operating expenses, other income and expenses, assets and liabilities, and overall margins. Such fluctuations impact our cost in U.S. dollars of providing our offerings as well as our revenues in U.S. dollars generated by our international business. We are also exposed to foreign exchange rate fluctuations as we convert the financial statements of our foreign subsidiaries into U.S. dollars in consolidation. If there is a change in foreign currency exchange rates, the conversion of the foreign subsidiaries' financial statements into U.S. dollars will lead to a translation gain or loss which is recorded as a component of other comprehensive income. The current or continued strength in the value of the U.S. dollar adversely impacts the U.S. dollar value of the revenue we receive and expect to receive from other non-U.S. markets. A decrease in the value of the U.S. dollar often increases the cost of labor and services in, or originating from, non-U.S. markets. Beginning in April 2026, we entered into certain foreign currency derivative contracts intended to partially mitigate the foreign exchange risk associated with assets and liabilities denominated in currencies other than our functional currency. These arrangements may not perform as intended or may not fully offset the impacts of the currency exchange rate fluctuations or foreign exchange risks, any of which could adversely affect our business, financial condition, results of operations, and prospects.

***We are subject to various existing and future environmental and health and safety laws and regulations that could result in increased compliance costs or additional operating costs and restrictions. Failure to comply with such laws and regulations may result in substantial fines or other limitations that could adversely impact our financial results or operations.***

We and our operations, as well as our partners or vendors, are subject to various domestic and international environmental and health and safety laws and regulations, including laws related to the generation, storage, transportation, and disposal of hazardous substances and wastes as well as electronic wastes and hardware, whether hazardous or not. We must also comply with federal, state, local, and foreign environmental and health and safety laws and regulations including those that address materials, recycling/second-use, waste handling, and end-of-life processing for vehicles, batteries, and other parts and maintenance consumables. We or others in our supply chain may be required to obtain permits and comply with procedures that impose various restrictions on operations that could adversely affect our business, financial condition, results of operations, and prospects. If key permits and approvals cannot be obtained on acceptable terms, or if other operational requirements cannot be met in a manner satisfactory for our operations or on a timeline that meets our commercial obligations, it may adversely affect our business, financial condition, results of operations, and prospects.

Environmental and health and safety laws and regulations can be complex and may be subject to change, such as through new regulations enacted at the supranational, national, sub-national, and/or local level or new or modified regulations that may be implemented under existing law. The nature and extent of any changes in these laws, rules, regulations, and permits may be unpredictable and may

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materially affect our business. Future legislation and regulations or changes in existing legislation and regulations, or interpretations thereof, including those relating to electronic waste, could cause additional expenditures, restrictions, and delays in connection with our operations as well as other future plans, the extent of which cannot be predicted.

Further, we rely on third parties to ensure compliance with certain environmental laws, including those related to the disposal of wastes, such as electronic wastes, to include end-of-life disposal or recycling. Any failure to properly handle or dispose of wastes, regardless of whether such failure is ours or that of our operational workforce, may result in liability under environmental laws, including, but not limited to the Comprehensive Environmental Response, Compensation and Liability Act, under which liability may be imposed without regard to fault or degree of contribution for the investigation and clean-up of contaminated sites, as well as impacts to human health and damages to natural resources. The costs of liability with respect to contamination could adversely affect our business, financial condition, results of operations, and prospects. Additionally, we may not be able to secure contracts with third parties and contractors to continue their key supply chain and disposal services for our business, which may result in increased costs for compliance with environmental laws and regulations.

***Evolving focus on sustainability and environmental, social, and governance issues by riders, regulators, media, employees, and other stakeholders may impose additional risks and costs on our business.*** 

Sustainability matters are core to our company and are an area of growing and evolving focus among our stakeholders, including cities, riders, employees, regulators, media, and the general public in the United States and abroad. We may face heightened expectations regarding sustainability matters such as the environment, social responsibility, and human rights. We engage in various initiatives to serve our stakeholders in these and other areas, but such initiatives can be costly and may not have the desired effect. For example, many sustainability initiatives, including metrics and targets, are based on methodologies, standards, and data that are still evolving or are subject to variable interpretation. In addition, we have in the past and may in the future announce our goals for certain sustainability matters. If we fail to achieve such goals, whether due to factors within or beyond our control, our reputation could be adversely affected.

Moreover, both advocates and opponents of various sustainability issues are increasingly resorting to activism, including media campaigns and litigation, to advocate for their positions. Responding to such issues would involve inherent costs, and any failure to successfully navigate stakeholder expectations could adversely affect our business, financial condition, results of operations, and prospects.

The regulatory landscape for sustainability matters is also fragmented and rapidly evolving. We may face risks related to compliance and reporting obligations, which vary by jurisdiction, under this evolving regulatory landscape. For example, we may be or become subject to regulations which impose requirements on companies to disclose detailed information regarding their climate-related financial risks, greenhouse gas emissions, and use of carbon offsets. Compliance may involve significant expenses and resources, with risks of errors in implementing necessary changes. Our suppliers and other stakeholders may be subject to similar risks, which may exacerbate, or create additional, risks related to such matters.

***Our independent registered public accounting firm's report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a going concern.***

Our audited consolidated financial statements for the year ended December 31, 2025 include an explanatory paragraph from our independent registered public accounting firm expressing substantial doubt about our ability to continue as a going concern. As of December 31, 2025 and March 31, 2026, we had cash and cash equivalents of approximately $339.8 million and $261.3 million, respectively. In addition, we have principal payments on the 2021 Notes and the Senior Secured Term Loan of approximately $675.8 million and $845.8 million due within twelve months of (i) December 31, 2025 and (ii) the date of issuance of our financial statements for March 31, 2026, respectively, and we do not

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currently have sufficient liquidity to repay them. As a result, management has determined that substantial doubt exists about our ability to continue as a going concern.

Our ability to continue as a going concern is dependent upon the consummation of our initial public offering. If our initial public offering is not completed as planned, our ability to continue as a going concern is dependent upon our ability to obtain necessary financing to meet our obligations or our ability to obtain an amendment to our 2021 Notes on acceptable terms. See "Management's Discussion and Analysis of Financial Condition and Results of Operations."

**Risks Related to Ownership of Our Common Stock and this Offering**

***The market price of our common stock may be volatile and may decline regardless of our financial and operating performance, and you may lose all or part of your investments.***

The market price of our common stock may fluctuate significantly in response to numerous factors, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse developments with respect to our offerings in the cities in which we operate, including the loss of permits to operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overall performance of the equity markets and/or publicly listed technology companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated fluctuations in our financial and operating metrics;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an adverse development in our strategic partnership with Uber, or the anticipation of such event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the financial projections we provide to the public or our failure to meet these projections;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure of securities analysts to initiate or maintain coverage of us, changes in financial estimates by any securities analysts who follow our company, or our failure to meet the estimates or the expectations of investors or analysts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the economy as a whole and market conditions in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• rumors and market speculation involving us or other companies in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements by us or our competitors of significant innovations, acquisitions, strategic partnerships, joint ventures, or capital commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new laws or regulations or new interpretations of existing laws or regulations applicable to our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation threatened or filed against us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the extent to which retail and other individual investors (as distinguished from institutional investors) invest in common stock, which may result in increased volatility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• recruitment or departure of key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the regulatory environment impacting cities in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other events or factors, including those resulting from war, incidents of terrorism, or responses to these events; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated sales of our common stock, including upon the expiration of contractual lock-up or market standoff agreements.

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In addition, extreme price and volume fluctuations in the stock markets have affected and continue to affect many technology companies' stock prices. Often, their stock prices have fluctuated in ways unrelated or disproportionate to the companies' operating performance. In the past, stockholders have filed securities class action litigation following periods of market volatility. If we were to become involved in securities litigation, it could subject us to substantial costs and be expensive and time-consuming. We cannot guarantee that we would be successful in any such litigation, and an adverse determination could result in a substantial damage award, or we may choose to settle the litigation for a significant amount. It could also divert resources and the attention of management from our business, harming our business. Moreover, because of these fluctuations, comparing our results of operations on a period-to-period basis may not be meaningful. You should not rely on our past results as an indication of our future performance. This variability and unpredictability could also result in our failing to meet the expectations of industry or financial analysts or investors for any period. If our financial performance or results of operations fall below the expectations of analysts or investors or below any forecasts we may provide to the market, or if the forecasts we provide to the market are below the expectations of analysts or investors, the market price of our common stock could decline substantially. Such a stock price decline could occur even when we have met any previously publicly stated financial forecasts that we may provide.

***No public market for our common stock currently exists and an active trading market may not develop or be sustained following this offering.***

No public market for our common stock currently exists. An active public trading market for our common stock may not develop following the completion of this offering or, if developed, it may not be sustained. The lack of an active market may impair your ability to sell your shares at the time you wish to sell them or at a price that you consider reasonable. The lack of an active market may also reduce the fair value of your shares. An inactive market may also impair our ability to raise capital to continue to fund operations by selling securities and may impair our ability to acquire other companies or technologies by using our securities as consideration.

***Future sales of our common stock in the public market could cause the market price of our common stock to decline.***

Sales of a substantial number of shares of our common stock in the public market, particularly sales by our directors, executive officers, and principal stockholders, or the perception that these sales might occur, could cause the market price of our common stock to decline and could impair our ability to raise capital through the sale of additional equity securities.

Substantially all of our securities outstanding prior to the completion of this offering are currently restricted from resale as a result of lock-up and market standoff agreements, subject to certain exceptions. See the sections titled "Underwriting" and "Shares Eligible for Future Sale" for additional information. These securities will become available to be sold 160 days after the date of the final prospectus relating to this offering. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC may, in their sole discretion, permit our security holders to sell shares prior to the expiration of the restrictive provisions contained in the lock-up agreements or market standoff agreements. Sales of a substantial number of such shares upon expiration of the lock-up and market standoff agreements, the perception that such sales may occur, or early release of these agreements could cause the market price of our common stock to fall or make it more difficult for an investor to sell our common stock at a time and price that an investor deems appropriate. Shares held by directors, executive officers and other affiliates will also be subject to volume limitations under Rule 144 under the Securities Act of 1933, as amended (the "Securities Act").

In addition, as of March 31, 2026, we had options outstanding that, if fully exercised, would result in the issuance of 6,436,019 shares of our common stock, common stock warrants outstanding that, if fully exercised, would result in the issuance of 262,058 shares of our common stock, and Preferred Stock Warrants that, if fully exercised, would result in the issuance of 11,674 shares of our common stock, as

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well as 2,718,150 shares of our common stock issuable upon the vesting of RSUs for which the service-based vesting condition has not been satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering. We intend to file one or more registration statements on Form S-8 under the Securities Act to register the shares of our common stock subject to outstanding stock options and RSUs as of the date following the effectiveness of the registration statement of which this prospectus forms a part and shares that will be issuable pursuant to future awards granted under our equity incentive plans. Once we register these shares, they can be freely sold in the public market upon issuance, subject to applicable vesting requirements, compliance by affiliates with Rule 144, and other restrictions provided under the terms of the applicable plan and/or the award agreements entered into with participants.

In addition, the lock-up agreements and market standoff provisions discussed above permit sell-to-cover transactions to cover tax withholding and remittance obligations in connection with the vesting and/or settlement of RSUs during the lock-up period (other than RSUs that vest in connection with this offering). If we decide to sell-to-cover rather than net settle shares underlying these RSUs, up to approximately 0.1 million shares of our common stock underlying RSUs will be eligible for sale in the open market during the lock-up period in connection with such sell-to-cover transactions (assuming a 45% tax withholding rate).

Following this offering, the holders of 48,947,892 shares of our common stock will have rights, subject to some conditions, to require us to file registration statements for the public resale of shares of our common stock or to include such shares in registration statements that we may file for us or other stockholders. Any registration statement we file to register additional shares, whether as a result of registration rights or otherwise, could cause the market price of our common stock to decline or be volatile.

***We have identified a material weakness in our internal control over financial reporting and, if not timely remediated, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence and the price of our common stock.***

In connection with the preparation and audit of our consolidated financial statements for the years ended December 31, 2023, 2024, and 2025, we and our independent registered public accounting firm identified a material weakness in our internal control over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.

The material weakness identified resulted from not maintaining sufficient accounting and finance personnel commensurate with our structure and financial reporting requirements. Specifically, we lacked resources with (i) an appropriate level of accounting knowledge and experience to effectively communicate, analyze, record, and disclose accounting matters timely and accurately and (ii) an appropriate level of knowledge and experience to establish effective processes and controls. This material weakness could result in a material misstatement to the annual or interim financial statements that would not be prevented or detected.

To address our material weakness, we are hiring accounting and finance personnel with an appropriate level of technical knowledge and expertise and have engaged with third-party consulting firms to assist with technical accounting matters, formalization of accounting policies and internal controls and financial reporting activities.

We and our independent registered public accounting firm were not required to perform an evaluation of our internal control over financial reporting for the years ending December 31, 2023, 2024, and 2025 in accordance with the provisions of the Sarbanes-Oxley Act of 2002. Accordingly, we cannot assure you that we have identified all, or that we will not in the future have additional, material weaknesses. Material

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weaknesses may still exist when we report on the effectiveness of our internal control over financial reporting as required by reporting requirements under Section 404 after the completion of this offering. If we are unable to successfully remediate the existing material weakness in our internal control over financial reporting, the accuracy and timing of our financial reporting, and our stock price, may be adversely affected and we may be unable to maintain compliance with the applicable stock exchange listing requirements.

***If you purchase shares of our common stock in this offering, you will incur immediate and substantial dilution.***

The initial public offering price will be substantially higher than the as adjusted net tangible book value per share of our common stock immediately following this offering based on the total value of our tangible assets less our total liabilities. Therefore, if you purchase shares of our common stock in this offering, based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, you will experience an immediate dilution of $16.30 per share, the difference between the price per share you pay for our common stock and the as adjusted net tangible book value per share as of March 31, 2026, after giving effect to the issuance by us of shares of our common stock in this offering and the Transactions. In addition, you may also experience additional dilution if options, RSUs or other rights to purchase our common stock that are outstanding or that we may issue in the future are exercised, vest or are converted or if we issue additional shares of our common stock at prices lower than our net tangible book value at such time.

***Future securities issuances could result in significant dilution to our stockholders and impair the market price of our common stock.***

Future issuances of shares of our common stock, or the perception that these sales may occur, could depress the market price of our common stock and result in dilution to existing holders of our common stock. Also, to the extent outstanding options or warrants to purchase shares of our common stock are exercised or options, RSUs or other stock-based awards are issued or become vested, there will be further dilution. The amount of dilution could be substantial depending upon the size of the issuances or exercises. Furthermore, we may issue additional equity securities that could have rights senior to those of our common stock. As a result, purchasers of our common stock bear the risk that future issuances of debt or equity securities may reduce the value of our common stock and further dilute their ownership interest.

***We have broad discretion in the use of the net proceeds from this offering and may not use them effectively.***

We will have broad discretion in the application of the net proceeds to us from this offering, including for any of the purposes described in the section titled "Use of Proceeds," and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this offering, our ultimate use may vary substantially from our currently intended use. Investors will need to rely on the judgment of our management with respect to the use of proceeds. Pending use, we may invest the net proceeds from this offering in short-term, investment-grade, interest-bearing securities, such as money market funds, corporate notes and bonds, certificates of deposit, commercial paper and guaranteed obligations of the U.S. government that may not generate a high yield for our stockholders. If we do not use the net proceeds that we receive in this offering effectively, our business, financial condition, results of operations, and prospects could be harmed, and the market price of our common stock could decline.

***We currently have no plans to pay dividends on our common stock.***

We have never declared or paid any cash dividends on shares of our capital stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends in the foreseeable future. In addition, our ability to pay dividends on

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our capital stock is expected to be limited by the terms of the Revolving Credit Facility, and may be further restricted by the terms of any future debt or preferred securities. Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend on many factors, including our financial condition, results of operations, earnings, capital requirements, business expansion opportunities, level of indebtedness, statutory and contractual restrictions applying to the payment of dividends, and other considerations that our board of directors deem relevant.

***If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.***

The trading market for our common stock will be influenced by the research and reports that industry or financial analysts publish about us or our business. We do not control these analysts or the content and opinions included in their reports. As a new public company, we may be slow to attract research coverage, and the analysts who publish information about our common stock will have had relatively little experience with our company, which could affect their ability to accurately forecast our results and make it more likely that we fail to meet their estimates. In the event we obtain industry or financial analyst coverage, if any of the analysts who cover us issues an inaccurate or unfavorable opinion regarding our stock price, our stock price may decline. In addition, the stock prices of many companies in the technology industry have declined significantly after those companies have failed to meet, or exceed, the financial guidance publicly announced by the companies or the expectations of analysts. If our results of operations fail to meet, or exceed, our announced guidance or the expectations of analysts or public investors, analysts could downgrade our common stock or publish unfavorable research about us, and the price of our common stock would likely decline as a result of such failure to meet our guidance or analyst expectations. If one or more of these analysts cease coverage of our common stock or fail to publish reports on us regularly, our visibility in the financial markets could decrease, which in turn could cause our stock price or trading volume to decline.

***For as long as we are an emerging growth company, we will not be required to comply with certain reporting requirements, including those relating to accounting standards and disclosure about our executive compensation, that apply to other public companies.***

We are an "emerging growth company," as defined in the JOBS Act, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including the auditor attestation requirements of Section 404, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Pursuant to Section 107 of the JOBS Act, as an emerging growth company, we have elected to use the extended transition period for complying with new or revised accounting standards until those standards would otherwise apply to private companies. As a result, our consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards that are applicable to public companies, which may make our common stock less attractive to investors. In addition, if we cease to be an emerging growth company, we will no longer be able to use the extended transition period for complying with new or revised accounting standards.

We will remain an emerging growth company until the first to occur of: (1) the last day of the year following the fifth anniversary of this offering; (2) the last day of the first year in which our annual gross revenue is $1.235 billion or more; (3) the date on which we have, during the previous rolling three-year period, issued more than $1.0 billion in non-convertible debt securities; and (4) the date we qualify as a "large accelerated filer," with at least $700 million of equity securities held by non-affiliates.

We cannot predict if investors will find our common stock less attractive if we choose to rely on these exemptions. For example, if we do not adopt a new or revised accounting standard, our future results of operations may not be as comparable to the results of operations of certain other companies in our

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industry that adopted such standards. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock, and our stock price may be more volatile.

***Anti-takeover provisions contained in our amended and restated certificate of incorporation and amended and restated bylaws, as well as provisions of Delaware law, could impair a takeover attempt.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, contain, and Delaware law contains, provisions which could have the effect of rendering more difficult, delaying, or preventing an acquisition deemed undesirable by our board of directors. These provisions will provide for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a classified board of directors with staggered three-year terms, which may delay the ability of stockholders to change the membership of a majority of our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the exclusive right of our board of directors to establish the size of the board of directors and to appoint a director to fill a vacancy, however occurring, including by expanding the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our board of directors to authorize the issuance of shares of preferred stock and to determine the price and other terms of those shares, including voting or other rights or preferences, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquiror;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our board of directors to alter our amended and restated bylaws without obtaining stockholder approval;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• supermajority voting requirement to amend certain provisions in our amended and restated certificate of incorporation and amended and restated bylaws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or special meeting of our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the requirement that a special meeting of stockholders may be called only by or at the direction of the board of directors, the chair of the board of directors, our chief executive officer or president, which may delay the ability of our stockholders to force consideration of a proposal or to take action, including the removal of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• advance notice procedures that stockholders must comply with in order to nominate candidates to our board of directors or to propose matters to be acted upon at a stockholders' meeting, which may discourage or deter a potential acquiror from conducting a solicitation of proxies to elect the acquiror's own slate of directors or otherwise attempting to obtain control of us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the limitation of liability of, and provision of indemnification to, our directors and officers.

These provisions, alone or together, could delay or prevent hostile takeovers and changes in control or changes in our management.

As a Delaware corporation, we are also subject to provisions of Delaware law, including Section 203 of the General Corporation Law of the State of Delaware (the "Delaware General Corporation Law"), which prevents some stockholders holding more than 15% of our outstanding common stock from engaging in certain business combinations without approval of the holders of substantially all of our

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outstanding common stock. For a description of our capital stock, see the section titled "Description of Securities."

Any provision of our amended and restated certificate of incorporation, amended and restated bylaws or Delaware law that has the effect of delaying or deterring a change in control could limit the opportunity for our stockholders to receive a premium for their shares of our common stock, and could also affect the price that some investors are willing to pay for our common stock.

***Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, provide that we will indemnify our directors and officers, in each case to the fullest extent permitted by Delaware law.

In addition, as permitted by Section 145 of the Delaware General Corporation Law, our amended and restated bylaws to be effective immediately prior to the completion of this offering, and our indemnification agreements that we have entered or intend to enter into with our directors and officers provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will indemnify our directors and officers for serving us in those capacities or for serving other business enterprises at our request to the fullest extent permitted by Delaware law. Delaware law provides that a corporation may indemnify such person if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the registrant and, with respect to any criminal proceeding, had no reasonable cause to believe such person's conduct was unlawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we may, in our discretion, indemnify employees and agents in those circumstances where indemnification is permitted by applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we are required to advance expenses, as incurred, to our directors and officers in connection with defending a proceeding, except that such directors or officers will undertake to repay such advances if it is ultimately determined that such person is not entitled to indemnification;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rights conferred in our amended and restated bylaws are not exclusive, and we are authorized to enter into indemnification agreements with our directors, officers, employees, and agents and to obtain insurance to indemnify such persons; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we may not retroactively amend our amended and restated bylaw provisions to reduce our indemnification obligations to directors, officers, employees, and agents.

While we maintain a directors' and officers' insurance policy, such insurance may not be adequate to cover all liabilities that we may incur, which may reduce our available funds to satisfy third-party claims and may harm our business and financial position.

***Our amended and restated certificate of incorporation and amended and restated bylaws will provide for an exclusive forum in the Court of Chancery of the State of Delaware for certain disputes between us and our stockholders, and that the federal district courts of the United States will be the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act.***

Our amended and restated certificate of incorporation and amended and restated bylaws, which will become effective immediately prior to the completion of this offering, will provide, that: (i) unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Delaware) will, to the fullest extent permitted by law, be the sole and exclusive forum for: (A) any derivative action or proceeding brought on behalf of the company, (B) any action asserting a claim for or based on a breach of a fiduciary duty owed by any of our current or former director, officer, other

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employee, agent or stockholder to the company or our stockholders, including without limitation a claim alleging the aiding and abetting of such a breach of fiduciary duty, (C) any action asserting a claim against the company or any of our current or former director, officer, employee, agent, or stockholder arising pursuant to any provision of the Delaware General Corporation Law or our certificate of incorporation or bylaws or as to which the Delaware General Corporation Law confers jurisdiction on the Court of Chancery of the State of Delaware, or (D) any action asserting a claim related to or involving the company that is governed by the internal affairs doctrine; (ii) unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States will, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act, and the rules and regulations promulgated thereunder; (iii) any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of the company will be deemed to have notice of and consented to these provisions; and (iv) failure to enforce the foregoing provisions would cause us irreparable harm, and we will be entitled to equitable relief, including injunctive relief and specific performance, to enforce the foregoing provisions. Nothing in our current certificate of incorporation or bylaws or our amended and restated certificate of incorporation or amended and restated bylaws precludes stockholders that assert claims under the Exchange Act, from bringing such claims in federal court to the extent that the Exchange Act confers exclusive federal jurisdiction over such claims, subject to applicable law.

The choice of forum provisions may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our current or former directors, officers, other employees, agents, or stockholders, which may discourage such claims against us or any of our current or former directors, officers, other employees, agents, or stockholders and result in increased costs for investors to bring a claim.

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**SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this prospectus, including statements regarding our strategy, future financial condition, future operations, expected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "positions," "seeks" or "continue," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this prospectus include, but are not limited to, statements about:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future financial performance, including our expectations regarding our revenue, expenses and other results of operations, and our ability to achieve and maintain future profitability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to acquire new riders and grow our rider base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to successfully retain existing riders and expand usage within our existing rider base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations with respect to the performance of our products, including the safety, availability and reliability of our fleet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to obtain, maintain and renew permits to operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with the terms of our permits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the anticipated impact of adding fleet within a city;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to predict rider demand and reposition vehicles accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to manage, improve and optimize our logistics;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to provide a satisfactory customer support experience;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the safety, affordability, and convenience of our platform and our offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• launching new products and adding new product capabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments to develop and enhance our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding our ability to expand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to avoid or remediate design or manufacturing defects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively manage our growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the estimated size of our market opportunity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of seasonal variations and other weather patterns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investments in our sales and marketing efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to compete effectively with existing competitors and new market entrants;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our reliance on our senior management team and our ability to identify, recruit and retain skilled personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• future acquisitions or investments in complementary companies, products, services or technologies and our ability to successfully integrate such companies or assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to obtain, maintain, protect and enforce our intellectual property rights and any costs associated therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to prevent disturbance to our information technology systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to successfully defend regulatory actions or assessments or claims and litigation brought against us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain insurance coverage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with laws and regulations that currently apply or become applicable to our business around the world;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to remediate material weaknesses in our internal controls over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to enter into the Revolving Credit Facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• economic and industry trends and other macroeconomic factors, such as fluctuating interest rates and rising inflation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of geopolitical changes or tensions, political conflicts and other global financial, economic, and political events and wars, and global pandemics or health crises on our industry, business, financial condition, results of operations and prospects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expected use of proceeds from this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other risks and uncertainties described in this prospectus, including those under the section titled "Risk Factors."

We caution you that the foregoing list does not contain all of the forward-looking statements made in this prospectus.

You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this prospectus primarily on our current expectations, estimates, forecasts, and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. Although we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur at all. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled "Risk Factors" and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this prospectus. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this prospectus relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this prospectus to reflect events or circumstances after the date of this prospectus or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually

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achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements.

You should read this prospectus and the documents that we reference in this prospectus and have filed as exhibits to the registration statement, of which this prospectus is a part, completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of the forward-looking statements in this prospectus with these cautionary statements.

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**MARKET AND INDUSTRY DATA**

This prospectus contains estimates, projections and other information concerning our industry and our business, as well as data regarding market research, estimates and forecasts prepared by our management. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled "Risk Factors." Unless otherwise expressly stated, we obtained this industry, business, market and other data from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry and general publications, government data and similar sources. Forecasts and other forward-looking information with respect to industry, business, market and other data are subject to the same qualifications and additional uncertainties regarding the other forward-looking statements in this prospectus. See the section titled "Special Note Regarding Forward-Looking Statements" for additional information.

Among others, we refer to estimates compiled by the following industry sources:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Bloomberg Initiative for Cycling Infrastructure, *Analysis: How global cities are raising their cycling infrastructure ambitions*, July 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Euromonitor International Passport Extract: Cities & Consumers - Global, 2024 edition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• European Environment Agency, *Transport and mobility*, February 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• INRIX, Inc., *INRIX Global Traffic Scorecard 2024*, February 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International Transport Forum Policy Papers, *Greener Micromobility*, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Oliver Wyman Forum, *Road to 1.5: How Urban Mobility Can Help Cities Limit Climate Change*, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PowerBIGov.us, Seattle Deployment Fleet Size, accessed March 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sensor Tower, Inc., Monthly Global Application Downloads, accessed January 2026 ("Sensor Tower").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• United Nations - Department of Economic and Social Affairs, *68% of the world population projected to live in urban areas by 2050, says UN*, 2018.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• University of North Florida - College of Computing, Engineering & Construction, *Exploring of user experience and evaluating mobility benefits of micromobility systems and golf carts: Case study of Florida*, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. Environmental Protection Agency, *Inventory of U.S. Greenhouse Gas Emissions and Sinks, 1990–2022*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. Department of Transportation Bureau of Transportation Statistics, *Bikeshare and E-scooter Systems in the U.S.*, September 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• World Travel and Tourism Council, *Travel & Tourism Economic Impact Research (EIR)*, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• World Wide Fund for Nature, *Paris Vélib' bike-sharing: Traffic breakthrough with bicycle sharing*, March 2021.

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**USE OF PROCEEDS**

We estimate that we will receive net proceeds from this offering of approximately $141.6 million (or $165.8 million if the underwriters exercise their option to purchase additional shares of common stock from us in full), based on an assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. We will not receive any proceeds from the sale of common stock by the selling stockholders.

Each $1.00 increase or decrease in the assumed initial public offering price per share of $25.00, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the net proceeds to us from this offering by approximately $6.2 million, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each 1.0 million share increase or decrease in the number of shares of common stock offered by us would increase or decrease, as applicable, the net proceeds to us from this offering by approximately $23.3 million, assuming that the initial public offering price per share remains at $25.00, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

The principal purposes of this offering are to obtain additional capital to fund our operations, create a public market for our common stock, facilitate an orderly distribution of shares for the selling stockholders, facilitate our future access to the public equity markets, and increase our visibility in the marketplace. We currently intend to use the net proceeds from this offering to repay all $115.0 million of the outstanding indebtedness under the Senior Secured Term Loan. The Senior Secured Term Loan matures in September 2026 and bears interest at the rate of 10% per annum. See the section titled "Certain Relationships and Related-Party Transactions—Senior Secured Term Loan and Uber Guaranty" for more information on the Senior Secured Term Loan. We intend to use the remaining net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures. We may also use a portion of the net proceeds to in-license, acquire or invest in complementary technologies, assets or intellectual property. We periodically evaluate strategic opportunities; however, we have no current commitments to enter into any such acquisitions or make any such investments.

We intend to use a portion of the net proceeds from this offering to satisfy tax withholding and remittance obligations related to the RSU Settlement of approximately $4.8 million, based on the assumed initial public offering price of $25.00 per share of common stock, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, and an assumed 45% tax withholding rate. A $1.00 increase or decrease, as applicable, in the assumed initial public offering price of $25.00 per share of common stock, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, assuming no change to the applicable tax rate, would increase or decrease, as applicable, the amount we would be required to pay to satisfy these tax withholding and remittance obligations by approximately $0.2 million.

In addition, we intend to use approximately $2.8 million of the net proceeds from this offering to satisfy tax withholding and remittance obligations related to additional RSUs for which the service-based vesting condition will be satisfied subsequent to March 31, 2026 but prior to the completion of this offering, and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering (and which shares will be net settled in connection with this offering), based on the assumed initial public offering price of $25.00 per share of common stock, which is the midpoint of the estimated price range set forth on the cover page of this prospectus, and an assumed 45% tax withholding rate.

It is possible that in the future, we will decide to net settle additional RSUs upon the applicable vesting date, meaning that we will withhold a portion of the vested shares on the applicable vesting date

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and use some of the net proceeds from this offering, as well as cash on hand, to satisfy tax withholding and remittance obligations related to the vesting and settlement of such RSUs.

The expected use of net proceeds from this offering represents our intentions based upon our present plans and business conditions. We cannot predict with certainty all of the particular uses for the proceeds of this offering or the amounts that we will actually spend on the uses set forth above. Accordingly, our management will have broad discretion in applying the net proceeds of this offering. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated growth of our business.

Pending their use, we intend to invest the net proceeds from this offering in a variety of capital-preservation investments, including short- and intermediate-term investments, interest-bearing investments, investment-grade securities, government securities and money market funds.

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**DIVIDEND POLICY**

We have never declared or paid any cash dividends on our capital stock. We currently intend to retain any future earnings for use in the operation of our business and do not anticipate declaring or paying any cash dividends in the foreseeable future. In addition, our ability to pay dividends is restricted by the terms of the Senior Secured Term Loan, the 2020 Notes and the 2021 Notes, as described further in the sections titled "Certain Relationships and Related-Party Transactions—Senior Secured Term Loan and Uber Guaranty," "Description of Securities—2020 Notes" and "Description of Securities—2021 Notes," respectively, and is expected to be limited by the terms of our Revolving Credit Facility, as described further in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources" and may be restricted by any agreements we may enter into in the future. Any future determination to declare cash dividends will be made at the discretion of our board of directors, subject to applicable laws and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions, general business conditions and other factors our board of directors may deem relevant.

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**CAPITALIZATION**

The following table sets forth our cash and cash equivalents and total capitalization as of March 31, 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an as adjusted basis to reflect (i) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering and (ii) the Transactions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an as further adjusted basis to reflect: (i) the adjustments set forth above, (ii) the issuance and sale of 6,679,791 shares of common stock by us in this offering at an assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, and (iii) the application of $115.0 million of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan, and approximately $4.8 million of the net proceeds to satisfy tax withholding and remittance obligations related to the RSU Settlement, based on the assumed initial public offering price of $25.00 per share of common stock and an assumed 45% tax withholding rate as described in the section titled "Use of Proceeds."

The as further adjusted information discussed below is illustrative only and will be adjusted based on the actual initial public offering price and other terms of this offering determined at pricing. This table should be read in conjunction with the sections titled "Summary Consolidated Financial Data," "Use of Proceeds" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included elsewhere in this prospectus.

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| | | | |
|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| | **Actual** | **As Adjusted** | **As Further Adjusted**<sup>(1)</sup> |
| | **(in thousands, except share and per share amounts)** | **(in thousands, except share and per share amounts)** | **(in thousands, except share and per share amounts)** |
| Cash and cash equivalents | $261302 | $261302 | $290713 |
| Term loan, current | 114244 | 114244 |  |
| 2020 Notes | 209646 |  |  |
| 2021 Notes | 682934 |  |  |
| Convertible preferred stock, par value $0.0001 per share; 20,846,055 shares authorized, 6,916,489 shares issued and outstanding, actual; no shares authorized, issued or outstanding, as adjusted and as further adjusted | 114027 |  |  |
| Stockholders' equity (deficit): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, par value $0.0001 per share; no shares authorized, issued, or outstanding, actual; 200,000,000 shares, authorized and no shares issued or outstanding, as adjusted and as further adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.0001 per share; 80,357,143 shares authorized, 10,689,773 shares issued and outstanding, actual; 1,000,000,000 shares authorized and 57,346,145 shares issued and outstanding, as adjusted; 1,000,000,000 shares authorized and 64,025,936 shares issued and outstanding, as further adjusted | 1 | 6 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 248669 | 1269816 | 1411370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | (7921) | (7921) | (7921) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (806462) | (825698) | (826454) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity (deficit) | (565713) | 436203 | 577002 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capitalization<sup>(2)</sup> | $555138 | $550447 | $577002 |

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(1)The as further adjusted information discussed above is illustrative only and will depend on the actual initial offering price and other terms of this offering determined at pricing. Each $1.00 increase or decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization by approximately $6.2 million, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each increase or decrease of 1.0 million shares of common stock offered by us would increase or decrease, as applicable, each of as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity and total capitalization by approximately $23.3 million, assuming that the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by 1,030,778 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by 1,116,677 shares.

(2)Concurrently with, and conditioned upon, the completion of this offering, we intend to enter into the Revolving Credit Facility, which is excluded from the foregoing table.

If the underwriters exercise their option to purchase additional shares of our common stock in full, as further adjusted cash and cash equivalents, additional paid-in capital, total stockholders' equity, total

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capitalization and shares of common stock outstanding as of March 31, 2026 would be $315.0 million, $1.4 billion, $601.3 million, $601.3 million and 65,069,414 shares, respectively.

The number of shares of our common stock issued and outstanding, as adjusted, and as further adjusted in the table above is based on 57,346,145 shares of our common stock outstanding as of March 31, 2026 after giving effect to the Transactions, and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 6,436,019 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $9.29 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,718,150 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 11,674 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price of $44.97 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 31,431 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $29.83 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 27,131 shares of our common stock issued after March 31, 2026 upon the exercise of a 2020 Warrant for an exercise price of $6.72 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 16,097,165 shares of our common stock reserved for future issuance under the 2026 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including 6,402,594 new shares and the number of shares (i) that remain available for grant of future awards under the 2017 Plan at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding Prior Plan Awards that expire, or are cancelled, forfeited, reacquired or withheld (including the shares withheld by us in connection with the RSU Settlement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 640,259 shares of our common stock reserved for future issuance under the ESPP which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

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**DILUTION**

If you purchase shares of our common stock in this offering, your ownership interest will be diluted to the extent of the difference between the initial public offering price per share of our common stock in this offering and the as further adjusted net tangible book value per share of our common stock immediately after this offering.

As of March 31, 2026, our historical net tangible book value (deficit) was $(595.0) million, or $(55.66) per share of our common stock. Our historical net tangible book value per share represents our total tangible assets less total liabilities and convertible preferred stock, divided by the aggregate number of shares of our common stock outstanding as of March 31, 2026.

Our as adjusted net tangible book value as of March 31, 2026 was $406.9 million, or $7.10 per share of common stock. As adjusted net tangible book value per share represents tangible assets, less liabilities, divided by the aggregate number of shares of common stock outstanding, and after giving effect to (i) the filing and effectiveness of our amended and restated certificate of incorporation, which will occur immediately prior to the completion of this offering and (ii) the Transactions.

After giving further effect to (i) the sale by us of 6,679,791 shares of our common stock in this offering at an assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us and (ii) the application of $115.0 million of the net proceeds from this offering to repay all of the outstanding indebtedness under the Senior Secured Term Loan, and approximately $4.8 million of the net proceeds to satisfy tax withholding and remittance obligations related to the RSU Settlement, based on the assumed initial public offering price of $25.00 per share of common stock and an assumed 45% tax withholding rate as described in the section titled "Use of Proceeds," our as further adjusted net tangible book value as of March 31, 2026 would have been $557.0 million, or $8.70 per share. This represents an immediate increase in as adjusted net tangible book value to existing stockholders of $1.60 per share and an immediate dilution in as adjusted net tangible book value to investors participating in this offering of $16.30 per share. Dilution per share represents the difference between the price per share to be paid by investors participating in this offering for the shares of our common stock sold in this offering and the as further adjusted net tangible book value per share immediately after this offering.

The following table illustrates this dilution on a per share basis:

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| | | |
|:---|:---|:---|
| Assumed initial public offering price per share |  | $25.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Historical net tangible book value (deficit) per share as of March, 31 2026 | (55.66) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in net tangible book value per share as of March 31, 2026 attributable to the as adjusted transactions described above | 62.76 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;As adjusted net tangible book value per share as of March 31, 2026 | 7.10 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in as adjusted net tangible book value per share attributable to investors participating in this offering | 1.60 |  |
| As further adjusted net tangible book value per share after this offering |  | 8.70 |
| Dilution per share to investors participating in this offering |  | $16.30 |

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Each $1.00 increase or decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, our as further adjusted net tangible book value per share after this offering by $0.10 per share and the dilution in as further adjusted net tangible book value per share to investors participating in this offering by $0.90 per share, assuming that the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

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Similarly, each 1.0 million share increase or decrease in the number of shares of common stock offered by us would increase or decrease, as applicable, our as further adjusted net tangible book value per share after this offering by $0.22 per share and the dilution in as further adjusted net tangible book value per share to investors participating in this offering by $0.22 per share, assuming the initial public offering price of $25.00 per share remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by 1,030,778 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by 1,116,677 shares.

If the underwriters exercise their option to purchase additional shares of our common stock in full, the as further adjusted net tangible book value per share of our common stock after this offering would be $8.93 per share, and the dilution in as further adjusted net tangible book value per share to investors participating in this offering would be $16.07 per share of our common stock.

The following table sets forth, on the as adjusted basis described above, as of March 31, 2026, the number of shares of common stock purchased from us, the total consideration paid, or to be paid, and the weighted-average price per share paid, or to be paid, by existing stockholders and by the investors participating in this offering, at an assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, before deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Total Consideration** | **Weighted-Average Price Per Share** |
| | **Number** | **Percent** | **Amount** | **Percent** | **Weighted-Average Price Per Share** |
| | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** | **(in thousands, except share, per share and percent data)** |
| Existing stockholders | 57346145 | 89.6% | $1435974 | 89.6% | $25.04 |
| Investors participating in this offering | 6679791 | 10.4% | $166995 | 10.4% | $25.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 64025936 | 100.0% | $1602969 | 100.0% | $25.04 |

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Sales by selling stockholders in this offering will cause the number of shares held by existing stockholders before this offering reflected in the table above to be reduced to 57,069,414 shares, or 89.1% of the total number of shares of our common stock outstanding immediately after the completion of this offering, and will increase the number of shares held by investors participating in this offering to 6,956,522 shares, or 10.9% of the total number of shares of our common stock outstanding immediately after the completion of this offering.

Each $1.00 increase or decrease in the assumed initial public offering price per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the total consideration paid by investors participating in this offering, total consideration paid by all stockholders, and the weighted-average price per share paid by all stockholders by approximately $6.7 million, $6.7 million, and $0.10, respectively, assuming that the number of shares of common stock offered by us and the selling stockholders, as set forth on the cover page of this prospectus, remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each 1.0 million share increase or decrease in the number of shares of common stock offered by us would increase or decrease, as applicable, the total consideration paid by investors participating in this offering, total consideration paid by all stockholders, and the weighted-average price per share paid by all stockholders by approximately $25.0 million, $25.0 million, and $0.00, respectively, assuming the assumed initial public offering price of $25.00 per share remains the same, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is

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the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by 1,030,778 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by 1,116,677 shares.

The foregoing tables assume no exercise of the underwriters' option to purchase additional shares. If the underwriters exercise their option to purchase additional shares of common stock in full, the number of shares of common stock held by our existing stockholders will represent approximately 87.7% of the total number of shares of our common stock outstanding after this offering and the number of shares held by investors participating in this offering will represent approximately 12.3% of the total number of shares of our common stock outstanding after this offering.

The foregoing tables and calculations (other than the historical net tangible book value calculation) are based on 57,346,145 shares of our common stock outstanding as of March 31, 2026 after giving effect to the Transactions, and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 6,436,019 shares of our common stock issuable upon the exercise of outstanding stock options as of March 31, 2026, with a weighted-average exercise price of $9.29 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,718,150 shares of our common stock subject to outstanding RSUs, for which the service-based vesting condition was not satisfied as of March 31, 2026 and for which the liquidity-based vesting condition will be satisfied upon the completion of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 11,674 shares of our common stock issuable upon the exercise of the Preferred Stock Warrant outstanding as of March 31, 2026, which will become a warrant to purchase shares of our common stock in connection with the Transactions, with an exercise price of $44.97 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 31,431 shares of our common stock issuable upon the exercise of warrants to purchase 31,431 shares of our common stock outstanding as of March 31, 2026, with a weighted-average exercise price of $29.83 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 27,131 shares of our common stock issued after March 31, 2026 upon the exercise of a 2020 Warrant for an exercise price of $6.72 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 16,090,140 shares of our common stock reserved for future issuance under the 2026 Plan, which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part, including 6,395,569 new shares and the number of shares (i) that remain available for grant of future awards under the 2017 Plan at the time the 2026 Plan becomes effective, which shares will cease to be available for issuance under the 2017 Plan at such time and (ii) underlying outstanding Prior Plan Awards that expire, or are cancelled, forfeited, reacquired or withheld (including the shares withheld by us in connection with the RSU Settlement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 639,557 shares of our common stock reserved for future issuance under the ESPP which will become effective on the business day immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

The 2026 Plan and ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive and Director Compensation—Equity Incentive Plans" for additional information.

To the extent we issue any additional stock options, warrants or RSUs or any outstanding stock options or warrants are exercised or any outstanding RSUs settle, or if we issue any other securities or convertible debt in the future, investors will experience further dilution.

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

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the "Summary Consolidated Financial Data" section, our audited consolidated financial statements and related notes, our unaudited condensed consolidated financial statements and related notes and other financial information appearing elsewhere in this prospectus. In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs that involve significant risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to those differences include those discussed below and elsewhere in this prospectus, particularly in "Risk Factors" and "Special Note Regarding Forward-Looking Statements." Our historical results are not necessarily indicative of the results to be expected for any period in the future.*

**Our Business** 

***Overview***

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>4</sup> across 29 countries<sup>5</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware:</u> Our electric vehicle fleet consists of e-scooters, e-bikes, and seated e-scooters, and operates on a "free-floating" model — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — which is designed to provide maximum convenience to riders and flexibility to cities. We design and engineer our vehicles in-house to elevate the rider experience, support regulatory compliance, enhance safety, and reduce our lifetime cost of ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software:</u> Lime's proprietary technology stack seamlessly connects our hardware, software, and operations through three core systems: a rider-facing app, the Rider App, for vehicle access, an operations-facing app, the Lime Supply App, for operations management, and an IoT-enabled hardware system for vehicle intelligence. The Rider App enables frictionless vehicle discovery and locking/unlocking, while the Lime Supply App equips our operations workforce to manage and maintain our fleet. Within the Lime Supply App, predictive analytics prioritize tasks that we

<sup>4</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>5</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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believe will drive the most value, such as repositioning vehicles from one location to another, charging, or maintenance using machine learning to forecast demand patterns to help optimize fleet placement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data:</u> Our platform harnesses data, such as rider behavior, operational workflows, and hardware/software diagnostics, to inform dynamic decision-making in real-time and our hardware design. Leveraging data from vehicle usage trends, gaps in demand, prioritized operational field tasks, and external inputs like weather help us to optimize fleet performance and advance city congestion goals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations:</u> Our tech-enabled operations address shared micromobility's logistical complexity — including volatile demand, workforce availability, and the challenges of operating in dense urban environments — by utilizing software and data in day-to-day decision-making. Our operations software tactically informs vehicle deployment, maintenance, and repositioning tasks, transforming physical workflows into scalable, predictive processes. By leveraging data-driven tools to guide fleet allocation and task prioritization across our markets, subject to local regulatory and labor frameworks, we believe we can maximize vehicle availability and operational efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise:</u> Our dedicated government relations and local customer service teams collaborate closely with cities to establish scalable transportation systems and forge policies that are designed to address and evolve with both rider and urban needs. We pair our operational expertise with deep local knowledge and in-depth discussions with city officials to secure permits to operate in a city and co-create shared micromobility systems that align with city priorities, such as equitable access and public transit connectivity.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, 14.3%, and 14.0% of total revenue in 2023, 2024, 2025, and the three months ended March 31, 2026, respectively.

We have grown our rider base by offering easy access to our fleet through the Lime and Uber apps and providing flexible payment options that appeal to routine and casual riders alike. Investing in fleet growth has also improved our reliability and driven further rider adoption. We have benefited from our scale and unit economics model characterized by variable costs that adjust with our operational needs, which has improved our financial position over time.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and has contributed to our significant market share. We calculate our market share primarily using data for MAAUs from Sensor Tower for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively,

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representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024 and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable generally accepted accounting principles in the United States of America ("GAAP") financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**Lime's History Of Innovation and Growth**

Since its founding in 2017, Lime has driven continuous innovation and growth in the shared micromobility space through advancements in both hardware and software. The timeline below highlights

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major milestones in product development, operational scale, and geographic expansion, underscoring Lime's leadership in shared micromobility.

![mda1ba.jpg](mda1ba.jpg)

**Lime's Business Model**

***How We Generate Revenue***

We generate revenue when riders use electric vehicles on our platform. Riders are charged for short-term rentals of our fleet of e-scooters and e-bikes with fees starting when a rider unlocks the vehicle via our mobile application and concluding when a rider ends the ride. We offer riders access to our platform primarily through two pricing models: either "Pay-As-You-Go" or LimePass, which consists of minute bundles as well as a subscription program, LimePrime. These options are designed to accommodate varying rider preferences and consumption habits. For example, casual riders, who might ride only when they visit a city we operate in or to attend a special event, favor the Pay-As-You-Go model. By contrast, routine riders, whose consistent and frequent usage, such as commutes to work and school or local journeys for errands and appointments, reflects higher retention and greater reliance on shared micromobility in their daily lives, often purchase minute bundles via LimePass. In 2025, 72% of revenue was generated through "Pay-As-You-Go" rides while 28% of revenue was generated through LimePass and LimePrime, collectively.

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<u>"Pay-As-You-Go"</u>

Pay-As-You-Go allows riders to pay for usage based on the duration per session. Typically, this includes an unlock fee (often around $1) and a per-minute charge. This model is frequently used by first-time riders, casual riders such as tourists, and those accessing our service through partner applications, such as Uber.

<u>"LimePass"</u>

Minute bundles allow riders to purchase a fixed number of minutes at a discounted rate, with unused minutes expiring after a designated period. Launched in 2019, this offering was designed to drive rider engagement through cost savings. Revenue from bundled minutes is initially deferred and recognized incrementally as riders consume their prepaid minutes. Minute bundles are available exclusively through the Rider App. These prepaid minute bundles are sold in increments that expire within 1 to 30 days. In 2025, riders using minute bundles took approximately 6 times as many trips as those who used our Pay-As-You-Go model, reflecting strong adoption among recurring riders.<sup>6</sup>

<u>"LimePrime"</u>

LimePrime is a recurring monthly subscription program that provides unlimited vehicle unlocks and extended vehicle reservations for the duration of the subscription period. We continue to experiment with new ways to drive value through our subscription offerings. Our latest implementation of LimePrime offers rides at a fixed rate to subscribers, giving riders a more reliable sense of their trip costs through upfront pricing.

***Our Advantaged Unit Economics***

Our differentiated unit economics are reflected in our Adjusted Gross Profit, which measures the profit generated after accounting for revenue from riders and direct local operating costs incurred to deliver our service. Adjusted Gross Profit is defined as gross profit excluding depreciation and amortization, and helps us evaluate the unit economic performance of a given city. Please see "—Non-GAAP Financial Measures" for a reconciliation of Adjusted Gross Profit to gross profit, which is the most directly comparable GAAP measure.

A meaningful portion of our local operating expenses are fixed and semi-fixed overhead, which provide us a structural advantage. The advantage allows us to expand both within cities in which we currently operate (by deploying additional fleet) and outward to adjacent cities which can be serviced by our existing operational infrastructure. As we scale within a market, this operating leverage supports revenue growth and margin expansion. In 2023, 2024, and 2025, substantially all of our revenue growth came from cities in which we already operated prior to those periods, with the remainder coming from expansion into entirely new cities.

While each city's unique demographics, usage patterns, and layout demand tailored go-to-market approaches, we have observed relatively consistent gross margins across market categories, demonstrating the replicability and versatility of our model. Our gross margin for 2023, 2024, and 2025 was 32%, 41%, and 39%, respectively. The graphic below shows the average unit economics across all cities for 2025. Starting with revenue we remove the costs associated with labor, parts, and permits along with facilities and other local costs to arrive at Adjusted Gross Profit. Our Adjusted Gross Margin for 2023, 2024, and 2025 was 53%, 54%, and 53%, respectively, which we believe is a reflection of overall local

<sup>6</sup>&nbsp;&nbsp;&nbsp;&nbsp; Based on internal data, where riders who take 75% or more of rides through LimePass are considered LimePass riders and riders who take 75% or more of rides through Pay-As-You-Go are considered Pay-As-You-Go riders.

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city unit economics. Detailed explanations of each component of our costs associated with local markets are provided below.

**2025 Unit Economics**

![mda2fa.jpg](mda2fa.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Revenue</u>: Revenue represents our gross bookings from riders, net of contra-revenue items which include sales & VAT taxes, promotions, and refunds. Revenue is analogous to our reported revenue in our consolidated statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Labor</u>: Labor represents a significant component of our unit economics, principally supporting field operations that drive value. These operations include strategic vehicle deployment, vehicle maintenance, swapping batteries, and vehicle retrieval. Our labor costs are mostly variable and tied to operational workflows. Our ability to increase task density (the number of tasks in a given location) allows us to increase the efficiency of our labor force and lower our overall costs. We do this by leveraging our data and analytics capabilities to focus on tasks that we believe are higher-value, enhancing the rider experience and vehicle uptime. Our extensive and growing dataset has allowed us to meaningfully decrease our labor spend over time and we aim to continue to identify ways to optimize the efficiency of our workforce.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Parts</u>: The cost of replacement parts for our vehicles is an important factor influencing unit economics. This includes tires, brakes, batteries, and other components that require periodic replacement due to wear and tear. We are continuously working to improve the durability of our vehicles and optimize our maintenance schedules to minimize parts costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Permits</u>: Permits, while representing a smaller portion of our overall costs, are necessary for enabling the right to operate in a city. These permits allow us to legally deploy and operate our vehicles within designated areas of a city. We work closely with local governments to secure permits and collaborate with cities using our data and observations to help address their local priorities. Our permits can include revenue sharing provisions or fixed fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Facilities Costs</u>: To service our fleet we require local infrastructure including fixed operational investments in facilities and the associated management of those facilities. We work to optimize fixed infrastructure across cities and seek to negotiate competitive rates. Facilities costs include those associated with warehousing, such as rent, utilities, taxes, and warehouse equipment costs. Over time we have moved more repairs to be in the field versus in the warehouse. This has reduced the need for warehouse space, and enabled us to service broader areas with our existing operational infrastructure.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Other Local Market Costs</u>: In addition to the above, our unit economics are influenced by other local market costs, including our platform and web hosting server costs, service vehicles, merchant and credit card processing fees, and certain insurance costs. We use data obtained from our platform to make continuous improvements in our platform technical design as well as certain contract terms, driving efficiency and reducing our cost base.

***Our Disciplined Approach to Capital Expenditures***

Our platform has enabled us to become more efficient with our capital expenditures.

Managing our fleet involves focused investment across three key areas: maintenance capital expenditures, growth capital expenditures, and cost of revenue. Our maintenance capital expenditures consist of investments required to maintain the total number of our current operational vehicles. These expenditures comprise both the full cost of new replacement vehicles as well as improvements to existing fleet which helps maintain our competitive position in our markets of operation. Our maintenance capital expenditures have become more efficient over time. These efficiencies have resulted from enhanced vehicle durability, optimized maintenance and vehicle charging schedules, upgraded battery locking mechanisms to reduce battery theft, and on-vehicle software updates to reduce idle power consumption. Over the years ended December 31, 2024 and 2025, our maintenance capital expenditures averaged 5% of revenue. Conversely, growth capital expenditures are required to grow our fleet either in current markets or in connection with market expansion. Growth capital expenditures also include the costs for development of technology such as the software for the Rider App or the Lime Supply App, as well as hardware such as charging solutions. Labor and parts required for both routine repairs and preventative maintenance are classified under cost of revenue in our consolidated statement of operations.

Our approach has enabled us to allocate substantially more capital toward activities that support the growth of our business in recent periods. Our blended average fully landed vehicle cost for the year ended December 31, 2025 was about $1,300, for which our ROI Payback Period was approximately twelve months. Our blended average fully landed vehicle cost represents the purchase cost of an e-scooter or e-bike, inclusive of the batteries, plus shipping, insurance, customs duties (including tariffs), and taxes, on average, for a single vehicle. Our ROI Payback Period represents the estimated number of months until the Adjusted Gross Profit per vehicle, calculated as our annualized RVD multiplied by our Adjusted Gross Margin in the same period, exceeds the blended average fully landed vehicle cost.

We expect to continue a disciplined approach to capital expenditures, enabling us to continue to grow our fleet while managing the cost of maintenance.

**Attractive Growth and Unit Economic Trends Across Cohorts**

***Our Advantaged Growth and Unit Economics are Primarily Driven by Fleet Growth***

Fleet growth is at the foundation of top-line growth and provides the scale necessary for our business to realize advantaged unit economics. Our platform, combined with a large and growing fleet, creates the high availability and reliability necessary for riders to adopt our offerings. Because our platform enables us to analyze local demand patterns and deploy vehicles with precision, we can take steps designed to maximize usage as we add fleet. Vehicle positioning to increase rider convenience, higher vehicle uptime, rider vehicle preference, and the resulting increased brand awareness drive higher vehicle utilization. As a result, we have observed increases to both our Monthly Active Users ("MAU"), the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period and our revenue per vehicle per day ("RVD"), the average daily revenue generated by each operational vehicle in our fleet, when we have

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increased our fleet. With scale, we increase reliability and availability, and improve the experience for riders, which contributes to more favorable unit economics.

**KPIs**

![mda3fa.jpg](mda3fa.jpg)

From 2023 to 2024, we grew our average operational fleet by 20%, while growing MAU by 19% and expanding utilization (RVD) by 9%. From 2024 to 2025, we grew our average operational fleet by 18%, while growing MAU by 21% and expanding utilization (RVD) by 10%. Because of our simultaneous growth in average operational fleet and MAU while expanding utilization, along with our continued unit economic improvements, we grew gross profit by 66% and 23% and Adjusted Gross Profit by 33% and 27% from 2023 to 2024 and 2024 to 2025, respectively. Please see "—Non-GAAP Financial Measures" for reconciliation of Adjusted Gross Profit to gross profit, which is the most directly comparable GAAP measure.

***As We Deepen Relationships with Cities, We Grow Rider Engagement***

As we scale, the availability and reliability of our vehicles increases for riders, which can lead to higher trip frequency which in turn can increase the utilization of our fleet. More trips per rider leads to a

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greater revenue generated per MAU. As shown below, our revenue per average MAU grew to approximately 1.2x in 2025 relative to 2023 and approximately 1.1x in 2024 relative to 2023.

**Revenue per Average MAU**

![mda4da.jpg](mda4da.jpg)

As shown below, each successive cohort from 2023 to 2025 started with a higher cumulative revenue and continued on the trend of increasing cumulative revenue over the course of their first 12 months with Lime. As riders use Lime more frequently over the course of their first year, many adopt LimePass, which offers minute bundles that are catered to riders who could more frequently use Lime vehicles and has helped to convert casual riders into routine riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Riders in successive cohorts consistently increased their spend. For example, in their initial month riders in 2023, 2024, and 2025 spent 1.1x, 1.2x, and 1.2x, respectively, more than riders from the 2022 cohort.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue generation from new cohorts also increased more rapidly than from older cohorts. For example, in month 6, riders in 2023, 2024, and 2025 cohorts cumulatively generated 2.0x, 2.2x, and 2.6x, respectively, more than the baseline revenue, as compared to 1.8x in the 2022 cohort.

![mda5fa.jpg](mda5fa.jpg)

*This table shows the average cumulative revenue generated by a rider over their first year using Lime for the 2023, 2024 and 2025 cohorts relative to the first month's average revenue generated by the 2022 cohort of riders.*

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***We Have Seen the Same Advantaged Trends Across the Market Categories We Serve***

We have seen that fleet growth has resulted in both top-line growth and advantaged unit economics regardless of the market category in which we operate. For each market category, however, the business strategy and operational nuances vary as a consequence of demographics and rider preferences.

In the charts below, we show the average fleet per city, average RVD generated per city, and the average Adjusted Gross Margin of such cities for 2023, 2024, and 2025 for each market category. The charts illustrate growth, with fleet size and average RVD expressed as a multiple relative to a 2023 baseline. Adjusted Gross Margin, however, displays the actual percentage achieved in each year.

![mda6ea.jpg](mda6ea.jpg)

![mda7ea.jpg](mda7ea.jpg)

![mda8ea.jpg](mda8ea.jpg)

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![mda9ea.jpg](mda9ea.jpg)

***Our Largest Opportunity Continues to be Within Existing Cities***

As we scale, we continue to see substantial expansion opportunities within our existing cities. We earn the right to add more operational fleet when we deliver on our value proposition for riders and cities with many permits offering the ability to expand fleet once particular operational and compliance metrics are met. Expansion within existing cities provides us with the best opportunity to realize economies of scale and benefit from operating leverage and network effects.

Operational fleet retention helps us to measure our efforts to expand our fleet within our cities over time, which as shown in the chart below, was 114%, 119%, and 116% in 2023, 2024, and 2025, respectively. Our operational fleet retention rate measures the year-over-year growth of our average operational fleet within our established cities of operation. This rate is calculated by comparing the average operational fleet in a given period to the average operational fleet in the same cities during the same period in the prior year. A rate exceeding 100% indicates net growth in our deployed fleet within our existing markets.

![mda10da.jpg](mda10da.jpg)

By increasing the size of our operational fleet in existing cities, we can leverage our existing infrastructure to enhance our service reliability and availability in a cost efficient way, promoting rider confidence in their ability to conveniently access e-scooters or e-bikes when needed while concurrently improving our unit economics.

While we have been able to drive significant operational fleet growth by expanding our presence within our existing cities, we also consistently pursue opportunities to launch our offerings in new cities and countries. We added 19 new cities in 2025. In particular, neighboring markets to those in which we

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operate provide us an opportunity to leverage a fixed cost center to service multiple markets in a centralized location which also improves our operating margins.

***Our Relationships with Cities Are Durable***

Part of the reason we have been able to generate significant growth in existing cities is due to the durable relationships we have cultivated, which allows us to expand our fleet, evolve the regulatory context, and benefit from increased scale and density. We invest in our local teams who have deep policy expertise and actively engage with policymakers, which enhances our understanding of city priorities and further strengthens our relationships with cities. Since 2022 the average length of time we have been operating in cities has increased. In 2022 we had not operated in any city for more than four years, while by 2025, 63% of the cities we operated in were cities in which we had operated for at least four years. These results demonstrate our durable relationships with our city partners and illustrate the value of our focus on engaging with local governments.

***We Have Multiple Growth Drivers***

While all of our drivers of growth are important to our expansion model, we have flexibility to choose different growth levers and business strategies that are most appropriate for a particular market category's maturity and context at a given point in time. For example, we can choose to focus our efforts on fleet expansion, leveraging existing fixed costs to increase reliability and availability in a cost efficient way. In other cities, we can focus on increasing RVD through variable ride pricing strategies and optimized fleet placement. We can focus on increasing MAU through differentiated sales and marketing programs and rider incentives, promote LimePass, or optimize for price elasticity to attract riders to our platform.

**Key Operating Metrics**

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| | | | |
|:---|:---|:---|:---|
| | **2023** | **2024** | **2025** |
| Average Operational Fleet | 229405 | 275983 | 325137 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *20 %* | *18 %* |
| RVD ($) | $6.23 | $6.80 | $7.47 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *9 %* | *10 %* |
| MAU ('000s) | 2639 | 3127 | 3794 |
| &nbsp;&nbsp;&nbsp;*% YoY change* |  | *19 %* | *21 %* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Average Operational Fleet:</u> Our operational fleet, defined as the total number of vehicles available on our platform, represents the average number of vehicles available for use for at least one hour per day during a specific period. The size of this fleet is a crucial indicator, as it reflects our capacity to meet rider demand and improve RVD. Vehicle maintenance, timely charging, and repositioning for optimal distribution and availability all impact our operational fleet on a given day and are actively managed by us.

Our revenue grew by 29% year-over-year in 2025, which was primarily driven by the growth of our average operational fleet by 18% over the same period in existing cities and enhanced network density and rider engagement.

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We believe that RVD is an indicator of the growth of our business as well as the value we deliver to our riders and stakeholders. Understanding RVD enables us to measure utilization and identify opportunities to enhance our service and deploy additional fleet.

In 2025, our two cities with the highest RVD were approximately 3x as high as our overall average RVD. We believe these results achieved over the span of our operational history in these cities highlight the potential utilization achievable in our cities as we continue to optimize fleet deployment and deepen rider engagement. Increasing RVD is a core area of focus for us as it directly expands our cash flow.

For the year ended December 31, 2025, RVD increased by 10% from the prior year. Our strategy of concentrating new vehicle deployments in existing markets enhanced network density and reliability, which in turn drove higher utilization across the entire fleet, as evidenced by a 21% year-over-year increase in MAU in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Monthly Active Users (MAU):</u> We define Monthly Active Users as the total number of unique riders who complete at least one e-scooter or e-bike trip on our platform at least once in a given month, averaged over each month in the measurement period. We use MAUs to assess the breadth of our service adoption and the frequency of rider engagement, which are critical measures of our penetration across the approximately 230 cities in which we operate.

Monthly Active Users grew 21% year-over-year in 2025, driven by our enhanced network reliability and strategic fleet deployment, which fueled a significant expansion in new ridership.

**Factors Affecting Lime's Performance**

We recognize several factors that affect our performance. These factors include growth in operational fleet, rider acquisition and growth, city expansion, regulatory compliance and advocacy, logistics and operational efficiency, strategic partnerships, seasonality, and weather. We describe these factors and they impact our performance below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Growth in Operational Fleet</u>

Our ability to grow revenue is linked to the size and effective management of our fleet. Over time, we have observed that increasing the size of our fleet is a key lever to grow MAU and RVD. Within individual cities, a larger fleet enables a greater density of available vehicles, which in turn enhances the availability and reliability of our vehicles for riders. The combination of increased density, availability, and reliability drive increased rider adoption. Our scale is directly correlated with our MAU, as availability of well-maintained vehicles increases reliability and convenience, fostering rider loyalty and driving MAU growth. To expand our fleet, we need both operating permits from cities and efficient fleet maintenance and management enabling us to retain permits and meet rider and city expectations.

We manage the size of our operational fleet to align with seasonal demand fluctuations, which typically peak in the second and third quarters of the year. This seasonality is driven by temperate weather conditions in many of our operating cities and we see increased rider demand in warmer and drier months. A larger operational fleet during seasonal periods of high demand enables us to maximize RVD.

Our ability to expand fleet is also related to the time required to cover the cost of investment in our vehicles. In 2023, 2024, and 2025, our e-scooters and e-bikes averaged an ROI Payback Period of approximately twelve months, enabling us to continue to invest for growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Rider Acquisition and Growth</u>

In order to grow our business, we must both attract new riders and convert casual riders to routine riders. A substantial portion of our riders are acquired organically through the visibility of

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our vehicles on city streets, and we leverage opportunistic marketing and partnerships to enhance the growth of our rider base. While continued acquisition of new riders is a component of our growth, a key driver of future success lies in deepening engagement with our existing riders. Converting first time and casual riders to routine riders represents one of our growth opportunities.

We define routine riders as those who spend at least $50 annually and casual riders as those who spend less than $50 annually on their usage of Lime. We have found that riders who spend more than $50 annually exhibit recurring behavior in their usage of Lime, and tend to stay with us more frequently than casual riders. A rider's journey from casual to routine is influenced by a number of factors, including the needs of the riders, the strength of our global brand, the availability of our vehicles, the affordability of our services, and the quality of our hardware. Over time some casual riders enjoy the benefits of Lime and become routine riders. While we focus on growing our routine rider base, casual riders, such as tourists, remain an important segment. In fact, based on internal estimates, over 15% of our routine riders initially experienced Lime during their travels and later incorporated it into their routines back home as of December 2025.

Our ability to retain riders through a consistently high-quality experience and targeted engagement strategies is paramount to achieving sustainable, long-term growth and profitability. We measure our success in rider acquisition and growth using key engagement metrics, MAU and RVD, in conjunction with our geographic reach and the performance of our various rider cohorts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>City Expansion</u>

As of December 31, 2025, Lime operates in approximately 230 cities across 29 countries. We have a substantial opportunity for growth by deepening our presence and expanding in existing cities by adding fleet. A smaller portion of our growth is expected to stem from entering new cities. When we add fleet to existing or enter new cities, we evaluate capital investment requirements in addition to our expectations around rider adoption and profitability. As such, we choose to deploy vehicles to locations where we believe we can enhance RVD over time. Given the unique opportunities within different cities, we tailor our go-to-market strategies to the specific characteristics of each city, in order to enable our operations to align with local city requirements and rider needs and preferences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Regulatory Compliance and Advocacy</u>

The rapidly evolving shared micromobility industry is subject to a complex and dynamic web of local laws and regulations, and the requirements of our permits to operate, which vary from city to city and region to region. Local city laws and regulations and permits impact the investments and operating costs within our cities. These regulations include, but are not limited to, permit fees, vehicle caps (limiting the number of vehicles we can operate), operational area restrictions, data sharing requirements, and specific deployment mandates that dictate where our vehicles can be positioned.

Navigating the regulatory environment requires investment in legal expertise, government relations, and ongoing engagement with local authorities. Lime proactively partners with cities to foster collaborative relationships, promote compliance with applicable requirements, and maximize the positive impact of our services on the community. This includes actively participating in discussions regarding new regulations and infrastructure build out, providing data and insights to inform policy decisions, and working to develop innovative solutions that address the unique needs and challenges of each city. Our ability to secure and maintain operating permits, effectively manage our fleet within the constraints of vehicle caps, and adapt to changing regulatory requirements is important for our continued growth.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Logistics and Operational Efficiency</u> 

Our logistics and operational efficiency are drivers of our financial performance, particularly in managing our key cost factors: capital expenditures, labor, and fixed costs.

Capital expenditures are primarily related to the purchase and maintenance of our vehicle fleet. We actively work to mitigate this cost by negotiating favorable pricing agreements with vehicle manufacturers, optimizing our vehicle deployment strategy, and extending the useful life of our vehicles through robust maintenance programs and durable designs. Labor costs relate to repairs, positioning, and regulatory compliance. To optimize this, we leverage technology and operational strategies to maximize productivity. In our fixed costs, we have successfully reduced our warehouse footprint while increasing the number of vehicles we manage through technological innovations and operational efficiencies. We intend to focus on these key cost factors and leverage technology and operational innovations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Seasonality and Weather</u>

Demand for our shared micromobility services is subject to considerable variation across different cities and within the same city over time. Inclement weather, such as rain, snow, or extreme temperatures, typically leads to a reduction in demand. We experience a predictable cadence of seasonality across many of our cities, which impacts our operational strategies. Given a significant portion of our operations is based in the Northern Hemisphere, inclement weather tends to impact our operations negatively in the first and fourth quarters of each calendar year. Seasonal fluctuations are also driven by factors such as local events (e.g., festivals, concerts, and sporting events that occur more frequently in summer periods) and seasonal tourism.

Our flexible labor model and operational experience allows us to scale our operations up or down in response to changing conditions. This model enables us to efficiently allocate resources, optimize vehicle deployment, and minimize operational costs during periods of low demand, while providing the ability to scale-up so that we have sufficient capacity to meet peak demand during periods of high activity. Our optimized scale up/down strategy allows for both increased demand capture and improved economics. By proactively adjusting our operational strategies, we can manage the impact of demand variations.

Our cash flow varies seasonally, with increased rider activity and the addition of new cities typically occurring during the second and third quarters and lower rider activity along with larger capital expenditures typically occurring in the fourth and first quarters due to the hardware refresh cycle. Together, these factors generally result in higher cash flows in the second and third quarters and lower cash flows in the first and fourth quarters.

**Non-GAAP Financial Measures**

To supplement our consolidated financial statements prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes.

We use Adjusted Gross Profit, Adjusted EBITDA and Free Cash Flow in conjunction with GAAP measures to evaluate our performance, inform our budgeting and capital allocation decisions, and assess the effectiveness of our business strategies. We believe these non-GAAP financial measures provide valuable insights to investors, enhancing their understanding of our historical performance and future potential. They also offer transparency into the metrics our management team utilizes for financial and operational decision-making. By presenting Adjusted Gross Profit, Adjusted EBITDA, and Free Cash Flow we aim to provide investors with a view of our business and financial performance through the lens of management, offering an additional tool for comparing our operational results across multiple periods.

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It is important to note that our definitions of these non-GAAP financial measures may differ from similarly titled metrics used by other companies. Furthermore, other companies may not publish these or similar metrics. These metrics also have inherent limitations, as they exclude the impact of certain expenses reflected in our consolidated statements of operations. Therefore, Adjusted Gross Profit, Adjusted EBITDA and Free Cash Flow should be considered as supplementary information, and not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

***Adjusted Gross Profit and Adjusted Gross Margin***

We define Adjusted Gross Profit as gross profit excluding depreciation and amortization. By removing these non-cash expenses, Adjusted Gross Profit can be used to evaluate the unit economic profile of the business, highlighting the profitability of each ride or city before accounting for the long-term allocation of asset costs. This approach helps in assessing the direct operational efficiency and profitability tied to the core activities that drive revenue. Adjusted Gross Margin is calculated by dividing Adjusted Gross Profit for a period by revenue for the same period.

A reconciliation of gross profit and gross margin, the most directly comparable GAAP financial measures, to Adjusted Gross Profit and Adjusted Gross Margin is presented below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** | ***(in thousands, except percentages)*** |
| Gross profit | $169205 | $281073 | $345447 | $28885 | $44591 |
| Gross margin (as a percentage of revenue) | 32.4% | 40.9% | 39.0% | 22.4% | 26.2% |
| Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization - included in cost of revenue | $103646 | $86188 | $121083 | $27480 | $29431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 3419 | 1295 | 622 | 105 | 181 |
| Adjusted Gross Profit | $276270 | $368556 | $467152 | $56470 | $74203 |
| Adjusted Gross Margin (as a percentage of revenue) | 52.9% | 53.7% | 52.7% | 43.8% | 43.6% |

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Adjusted Gross Profit for the year ended December 31, 2025 was $467.2 million, a 27% increase compared to $368.6 million the prior year. Adjusted Gross Margin for the year ended December 31, 2025 was 52.7%, a decrease from 53.7% in the prior year. Unit economics, as measured by Adjusted Gross Margin, decreased by 99 basis points as we made targeted expenditures designed to enhance fleet reliability and operational efficiency.

Adjusted Gross Profit for the three months ended March 31, 2026 was $74.2 million, a 31.4% increase compared to $56.5 million for the three months ended March 31, 2025. Adjusted Gross Margin for the three months ended March 31, 2026 was 43.6%, which decreased slightly from 43.8% for the three months ended March 31, 2025. Adjusted Gross Margin is typically lower in the first quarter of each calendar year due to the seasonality of our business.

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***Adjusted EBITDA***

Adjusted EBITDA is a key performance metric we use to assess our core operating performance and operating leverage by excluding items that are non-cash or are not indicative of our ongoing business results. It is calculated by starting with net income (loss) and then adjusted to exclude interest expense, income tax, depreciation and amortization (which includes vehicle depreciation, non-vehicle depreciation, and the amortization of capitalized software and cloud computing arrangements), gain/loss on vehicle disposals, and stock-based compensation. Furthermore, we exclude other expense, net; this category encompasses the change in the fair value of the 2021 Notes, interest income, other miscellaneous income or expense and all realized and unrealized foreign exchange gains or losses. We also adjusted to exclude costs related to market closures and non-recurring public company readiness efforts. By removing these specific financial, non-cash, and non-core operational items, Adjusted EBITDA provides a clearer view of the profitability and cash-generating potential of our fundamental business operations.

The following table presents a reconciliation of Adjusted EBITDA to net loss, which is the most directly comparable GAAP measure, for the periods indicated:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |
| Interest expense | 23140 | 20282 | 20626 | 5123 | 5159 |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| Depreciation and amortization<sup>(1)</sup> | 109540 | 93311 | 128165 | 29318 | 30936 |
| Stock-based compensation | 11485 | 11808 | 11198 | 3152 | 2642 |
| Other expense, net | 68511 | 56204 | 99005 | 17082 | 25239 |
| Loss on vehicle asset disposals | 3419 | 1295 | 622 | 105 | 181 |
| Market closure costs | 24 | 29 |  |  |  |
| Public company readiness costs |  |  | 7740 | 982 | 2754 |
| Adjusted EBITDA | $99844 | $153412 | $218126 | $2135 | $7481 |

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(1)Includes amortization related to cloud computing arrangements.

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Adjusted EBITDA for the year ended December 31, 2025 was $218.1 million, a 42% increase compared to $153.4 million in the prior year. Adjusted EBITDA for the three months ended March 31, 2026 was $7.5 million compared to $2.1 million for the three months ended March 31, 2025. These improvements were fueled by strong year-over-year revenue growth of 29% in 2025 and 32% in the first quarter of 2026 as compared to the first quarter of 2025, which created significant operating leverage on our corporate expenses.

![mda13da.jpg](mda13da.jpg)

***Free Cash Flow***

We define Free Cash Flow as net cash provided by operating activities less capital expenditures for vehicle and non-vehicle assets.

A reconciliation of net cash provided by (used in) operating activities, the most directly comparable GAAP financial measure, to Free Cash Flow is presented below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (80128) | (121652) | (111053) | (51539) | (56889) |
| Free Cash Flow | $1071 | $47301 | $103788 | $(72154) | $(79191) |

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Free Cash Flow was $103.8 million in 2025, an improvement of $56.5 million from the prior year largely as a result of a $45.9 million year-over-year increase in cash provided by operating activities. While our average operational fleet increased by 18% in 2025, we experienced lower cash outflow for capital expenditures in 2025 compared to 2024 as our payment terms with our vehicle supplier changed such that our vehicle purchases are secured by letters of credits in 2025 rather than through upfront payment of deposits in prior periods.

We experienced negative Free Cash Flow of $(79.2) million for the three months ended March 31, 2026 and $(72.2) million for the three months ended March 31, 2025 as inclement weather tends to impact our operations negatively in the first quarter of each calendar year while many of our costs remain fixed. Additionally, our capital expenditures are generally concentrated in the first part of the calendar year to accommodate planned vehicle manufacturing lead times.

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**Components of Results of Operations** 

***Revenue***

We generate revenue by providing seamless, on-demand access to our fleet of e-scooters and e-bikes. We earn revenue from unlock fees to access the vehicles and per minute usage fee from Pay-As-You-Go riders. We treat any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates.

We also generate revenue from our LimePass offerings, which consist of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring monthly subscription that provides riders with benefits such as unlimited unlocks and extended vehicle reservations during the subscription period. In addition, starting in the first quarter of 2026, we rolled out a new LimePrime option for unlimited flat-rate rides, up to 20 minutes each. We recognize revenue for minute bundles as minutes are used and we recognize revenue for LimePrime ratable over the subscription term.

***Cost of Revenue***

Cost of revenue consists primarily of compensation, employee benefits and stock-based compensation of local operations field personnel associated with the deployment, maintenance and retrieval of vehicles and swapping of batteries, vehicle asset depreciation and disposals, tools and parts, merchant and credit card processing fees, warehouse rent and related facility costs, and certain insurance costs related to our micromobility services. Costs of revenue also includes operating permit costs and platform and web hosting server costs.

We plan to continue to drive an increased volume of trips taken on our e-scooters and e-bikes and expand the reach of our platform through opening and winning new markets and growing within existing markets. We expect that cost of revenue will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Selling, General and Administrative***

Selling, general and administrative expenses include compensation, employee benefits and stock-based compensation for management, finance, legal, human resources, marketing, government relations, business development, general liability and corporate insurance costs, certain legal-related accruals and settlements and expenses, professional service fees, advertising and marketing, events, public relations, sponsorships, and other general overhead and allocated costs.

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We plan to continue to invest in sales and marketing to attract and retain riders on our platform and increase our brand awareness. Additionally, we expect to incur additional expenses as a result of operating as a public company, including expenses to comply with the rules and regulations applicable to companies listed on a national securities exchange, expenses related to compliance and reporting obligations pursuant to the rules and regulations of the SEC, as well as higher expenses for general and director and officer insurance, investor relations, and professional services. We expect that selling, general and administrative expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Operations and Support***

Operations and support expenses include compensation, employee benefits and stock-based compensation and other costs for central operations, supply chain, customer service, and trust and safety. Central operations personnel are responsible for the strategy, planning, data analysis and reporting across markets for capital expenditures and labor, warehouse optimization, new business initiatives and expansion into new markets. Supply chain costs include distribution facility costs related to the centralized purchasing and storage prior to deployment of our e-scooters and e-bikes to our local markets. Customer service costs include third party call-center support and customer support technology costs. Trust and safety personnel are responsible for developing the policies and protocols for the safety programs, monitoring safety trends and supporting compliance with applicable laws and regulations.

We plan to continue to invest in central operations, supply chain, customer service, and trust and safety to support our continued growth. We expect that operations and support expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Research and Development***

Research and development expenses include compensation, employee benefits, and stock-based compensation for technology developers and product management employees as well as fees paid to outside consultants, software costs, and other allocated costs.

We plan to continue to hire employees to support our research and development efforts to continue advancing the proprietary hardware and software that enables our platform to continuously improve the experience for both cities and riders. We expect that research and development expenses will increase in absolute dollars in future periods and vary from period to period as a percentage of revenue.

***Interest expense***

Interest expense consists primarily of interest payments on our convertible notes and debt, including accretion of debt discount.

***Provision for Income Taxes***

We are subject to income taxes in the United States and foreign jurisdictions in which we do business. These foreign jurisdictions have different statutory tax rates than those in the United States. Additionally, certain of our foreign earnings may also be taxable in the United States. Accordingly, our effective tax rate will vary depending on the relative proportion of foreign to domestic income, use of foreign tax credits, changes in the valuation of our deferred tax assets, and liabilities and changes in tax laws.

We have a valuation allowance for our U.S. deferred tax assets, including federal and state net operating loss carryforwards. We expect to maintain this valuation allowance until it becomes more likely than not that the benefit of our federal and state deferred tax assets will be realized. However, based on our current and anticipated future earnings, our management believes it is reasonably possible that the U.S. valuation allowance will no longer be needed in the future. The timing and amount of the valuation allowance release could vary based on the level of profitability that we are actually able to achieve. A

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release of all or a portion of the valuation allowance would result in the recognition of certain deferred tax assets and a material income tax benefit for the period in which such release is recorded.

***Other expense, net***

Other expense, net consists of the loss on change in fair value related to the 2021 Notes, foreign currency exchange gains or losses, interest income and other non-operating gains and losses.

**Results of Operations** 

The following table summarizes our historical consolidated statements of operations data:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Revenue | $521983 | $686630 | $886719 | $129015 | $170150 |
| Cost of revenue<sup>(1)</sup> | 352778 | 405557 | 541272 | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 | 28885 | 44591 |
| Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(1)</sup> | 114183 | 143726 | 169460 | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(1)</sup> | 42642 | 48937 | 51636 | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(1)</sup> | 37004 | 41441 | 53950 | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 | 60307 | 73623 |
| Operating income (loss) | (24624) | 46969 | 70401 | (31422) | (29032) |
| Interest expense | (23140) | (20282) | (20626) | (5123) | (5159) |
| Other expense, net | (68511) | (56204) | (99005) | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) | (53627) | (59430) |
| Provision for income taxes | 6083 | 4396 | 10079 | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) | $(55964) | $(61286) |

---

_______________

(1)Includes stock-based compensation expense as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $58 | $36 | $28 | $9 | $5 |
| Selling, general and administrative | 5474 | 5840 | 5888 | 1588 | 1706 |
| Operations and support | 1550 | 1697 | 1177 | 372 | 194 |
| Research and development | 4403 | 4235 | 4105 | 1183 | 737 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 | $3152 | $2642 |

---

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The following table sets forth the components of our consolidated statements of operations data as a percentage of revenue:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
| Revenue | 100% | 100% | 100% | 100% | 100% |
| Cost of revenue | 68 | 59 | 61 | 78 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 32 | 41 | 39 | 22 | 26 |
| Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 22 | 21 | 19 | 28 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 8 | 7 | 6 | 9 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 7 | 6 | 6 | 10 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 37 | 34 | 31 | 47 | 43 |
| Operating income (loss) | (5) | 7 | 8 | (24) | (17) |
| Interest expense | (4) | (3) | (2) | (4) | (3) |
| Other expense, net | (13) | (8) | (11) | (13) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (22) | (4) | (6) | (42) | (35) |
| Provision for income taxes | 1 | 1 | 1 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | (23)% | (5)% | (7)% | (43)% | (36)% |

---

***Comparison of Years Ended December 31, 2023 and 2024***

<u>Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $521983 | $686630 | 32% |

---

Revenue increased $164.6 million, or 32%, in the year ended December 31, 2024 compared to the prior year. This was primarily driven by a 20% increase in average operational fleet, concentrated in existing markets which enhanced network density and rider engagement, a 19% increase in our MAU and a 9% growth in RVD, in each case compared to 2023. The growing adoption of our LimePass offering meaningfully contributed to our RVD growth. We generate revenue through two pricing models: "Pay-As-You-Go" and LimePass, consisting of minute bundles and LimePrime. In the year ended December 31, 2024, "Pay-As-You-Go" and LimePass contributed 80% and 20% of total revenue compared to 86% and 14% of total revenue, respectively, in the prior year.

<u>Cost of Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 352778 | 405557 | 15% |

---

Cost of revenue increased $52.8 million, or 15%, in the year ended December 31, 2024 compared to the prior year. While our average operational fleet grew by 20% year-over-year, vehicle operating costs

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increased by a lower rate as we were able to achieve higher fleet utilization resulting in year-over-year RVD growth of 9%. As we grew our operational fleet, we were also able to achieve higher efficiency from our operational workforce who help manage our fleet of vehicles as well as our warehouse costs. Additionally, as a result of the change in vehicle asset useful life (see the discussion in <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> to our audited consolidated financial statements included elsewhere in this prospectus), we experienced a decrease in vehicle asset depreciation expense of $27.2 million in 2024 compared to 2023. Without this decrease, cost of revenue in the year ended December 31, 2024 would have increased 23% compared to 2023 and cost of revenue as a percentage of revenue in 2024 would have been 63%.

As a percentage of revenue, cost of revenue decreased from 68% to 59% as we obtain better operating leverage and scale efficiencies and as a result of the decreased vehicle asset depreciation expense in 2024.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $114183 | $143726 | 26% |

---

Selling, general and administrative expenses increased $29.5 million, or 26%, in the year ended December 31, 2024 compared to the prior year. The increase was primarily due to an increase of $19.1 million in our insurance costs driven by the increase in our operational fleet and rider usage. Additionally, personnel-related compensation costs increased by $6.4 million as a result of growth in headcount.

As a percentage of revenue, selling, general and administrative expenses decreased from 22% to 21%.

<u>Operations and support</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $42642 | $48937 | 15% |

---

Operations and support increased $6.3 million, or 15%, in the year ended December 31, 2024 compared to the prior year. Our operations and support costs increased to support our revenue growth, reflecting investments in customer service and central operations and logistics as well as overall infrastructure growth. Our personnel-related compensation costs, including our outsourced customer service team, increased by $4.5 million.

As a percentage of revenue, operations and support expenses decreased from 8% to 7% as we continued to improve operating efficiencies.

<u>Research and Development</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $37004 | $41441 | 12% |

---

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Research and development expenses increased $4.4 million, or 12%, in the year ended December 31, 2024 compared to the prior year. The year over year increase was primarily driven by our investment in the development of the new LimeGlider vehicle.

As a percentage of revenue, research and development expenses decreased from 7% to 6%.

<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2023** | **2024** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(23140) | $(20282) | (12)% |
| Other expense, net | $(68511) | $(56204) | (18)% |

---

Interest expense decreased $2.9 million in the year ended December 31, 2024 compared to the prior year due to lower contractual interest of $1.0 million and a reduction in the amortization of debt discounts and premiums of $1.2 million on our Senior Secured Term Loan combined with $0.9 million of extinguishment loss recognized during the year ended December 31, 2023 due to the extinguishment of certain debt in October 2023.

Other expense, net, decreased $12.3 million in the year ended December 31, 2024 compared to the prior year. We had a $36.2 million decrease in the net changes in the fair value of the 2021 Notes driven by an increase in our company value. This was partially offset by an increase of $25.3 million in foreign currency losses.

***Comparison of Years Ended December 31, 2024 and 2025***

<u>Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $686630 | $886719 | 29% |

---

Revenue increased $200.1 million, or 29%, in the year ended December 31, 2025 compared to the prior year. This was primarily driven by an 18% increase in average operational fleet, largely concentrated in existing markets, which enhanced network density and rider engagement, a 21% increase in our MAU and a 10% growth in RVD, in each case compared to 2024.

The growing adoption of our LimePass offering meaningfully contributed to our RVD growth. In the year ended December 31, 2025, "Pay-As-You-Go" and LimePass contributed 72% and 28% of total revenue compared to 80% and 20% of total revenue, respectively, in the prior year.

<u>Cost of Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 405557 | 541272 | 33% |

---

Cost of revenue increased $135.7 million, or 33%, in the year ended December 31, 2025 compared to the prior year.

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The increase is in line with the increase in revenue as a result of a higher ridership and targeted expenditures designed to enhance fleet reliability and operational efficiency. Our average operational fleet grew by 18% year-over-year, leading to increased vehicle operating costs, warehouse costs as well as increased personnel costs from our operational workforce who help manage our fleet of vehicles.

Additionally, as a result of the change in depreciation methodology for our vehicle assets from a usage-based method to a straight-line method (see the discussion in <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> to our audited consolidated financial statements included elsewhere in this prospectus), we experienced an increase in vehicle asset depreciation expense of $14.8 million in 2025 compared to 2024. Without this increase, cost of revenue in the year ended December 31, 2025 would have only increased 30% compared to 2024 and cost of revenue as a percentage of revenue in 2025 would have been 59%.

As a percentage of revenue, cost of revenue increased from 59% to 61% due primarily to the increase in vehicle asset depreciation expense as a result of the change in depreciation methodology.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $143726 | $169460 | 18% |

---

Selling, general and administrative expenses increased $25.7 million, or 18%, in the year ended December 31, 2025 compared to the prior year. The increase was due primarily to an increase in personnel-related compensation costs of $9.8 million to support our continued growth and non-recurring costs associated with our public company readiness efforts of $7.7 million.

As a percentage of revenue, selling, general and administrative expenses decreased from 21% in 2024 to 19% in 2025.

<u>Operations and support</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $48937 | $51636 | 6% |

---

Operations and support expenses increased $2.7 million, or 6%, in the year ended December 31, 2025 compared to the prior year. Our operations and support costs increased to support our revenue growth, reflecting continued investments in customer service and central operations and logistics as well as overall infrastructure growth.

As a percentage of revenue, operations and support expenses decreased from 7% in 2024 to 6% in 2025 as we continued to improve operating efficiencies.

<u>Research and Development</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $41441 | $53950 | 30% |

---

Research and development expenses increased $12.5 million, or 30%, in the year ended December 31, 2025 compared to the prior year. The year-over-year increase was driven primarily by

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investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives.

As a percentage of revenue, research and development expenses remained steady at 6% in 2024 and 2025.

<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **%**<br>**Change**  |
| | **2024** | **2025** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(20282) | $(20626) | 2% |
| Other expense, net | $(56204) | $(99005) | 76% |

---

Interest expense increased $0.3 million in the year ended December 31, 2025 compared to the prior year. The year-over-year increase was driven primarily by a $0.3 million increase in interest expense on contract liability balances subject to escheatment.

Other expense, net, increased $42.8 million in the year ended December 31, 2025 compared to the prior year. The increase was due primarily to an increase in the loss on change in fair value of the 2021 Notes of $84.0 million, partially offset by an increase of $38.7 million in foreign currency gains.

***Comparison of Three Months Ended March 31, 2025 and 2026***

<u>Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Revenue | $129015 | $170150 | 32% |

---

Revenue increased $41.1 million, or 32%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. This was primarily driven by a 22% increase in average operational fleet, a 22% increase in our MAU and a 8% growth in RVD which benefited from targeted pricing actions and program impacts that helped drive monetization throughout the quarter. Additionally, we had outsized growth in the rest of the world in the first quarter of 2026 as compared to the first quarter of 2025 reflecting our investment in markets that are counter-seasonal to our primary markets.

<u>Cost of Revenue</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Cost of revenue | 100130 | 125559 | 25% |

---

Cost of revenue increased by $25.4 million, or 25%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025.

The increase is in line with the increase in revenue as a result of a higher ridership and targeted expenditures designed to enhance fleet reliability and operational efficiency. Our average operational fleet grew by 22% year-over-year, leading to increased vehicle operating costs, warehouse costs as well as increased personnel costs from our operational workforce who help manage our fleet of vehicles.

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As a percentage of revenue, cost of revenue decreased from 78% to 74% as we obtained better operating leverage and scale efficiencies.

<u>Selling, General and Administrative</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Selling, general and administrative | $35914 | $45005 | 25% |

---

Selling, general and administrative expenses increased by $9.1 million, or 25%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was due primarily to an increase in personnel-related compensation costs to support our continued growth and costs associated with our public company readiness efforts.

As a percentage of revenue, selling, general and administrative expenses decreased from 28% in the three months ended March 31, 2025 to 26% in the three months ended March 31, 2026.

<u>Operations and support</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Operations and support | $11841 | $13391 | 13% |

---

Operations and support expenses increased by $1.6 million, or 13%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Our operations and support costs increased to support our revenue growth, reflecting continued investments in customer service and central operations and logistics as well as overall infrastructure growth.

As a percentage of revenue, operations and support expenses decreased from 9% in the three months ended March 31, 2025 to 8% in the three months ended March 31, 2026 as we continued to improve operating efficiencies.

<u>Research and Development</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Research and development | $12552 | $15227 | 21% |

---

Research and development expenses increased by $2.7 million, or 21%, in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was driven primarily by investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives.

As a percentage of revenue, research and development expenses decreased from 10% in the three months ended March 31, 2025 to 9% in the three months ended March 31, 2026.

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<u>Interest Expense and Other Expense, net</u>

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **%**<br>**Change**  |
| | **2025** | **2026** | **%**<br>**Change**  |
|  | ***(dollars in thousands)*** | ***(dollars in thousands)*** |  |
| Interest expense | $(5123) | $(5159) | 1% |
| Other expense, net | $(17082) | $(25239) | 48% |

---

Interest expense remained stable, primarily driven by fixed payments associated with our convertible notes and debt obligations.

Other expense, net, increased $8.2 million in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was due primarily due to a change from foreign currency gains to foreign currency losses driving an increase of $10.8 million, partially offset by a decrease of the loss on change in fair value of the 2021 Notes of $1.8 million.

***Quarterly Results of Operations***

The following table sets forth our unaudited quarterly consolidated results of operations for each of the quarterly periods for the years ended December 31, 2024 and 2025 as well as the three months ended March 31, 2026. The unaudited quarterly statements of operations data have been prepared on the same basis as our audited consolidated financial statements included elsewhere in this prospectus and includes all adjustments, consisting only of normal recurring adjustments that, in our opinion, are necessary to state fairly the results of operations for these periods. Our historical results are not necessarily indicative of the results that may be expected in the future and the results of a particular quarter or other interim period are not necessarily indicative of the results for a full year or any other period. The following unaudited quarterly consolidated results of operations should be read in conjunction with our audited consolidated financial statements and related notes and our unaudited condensed consolidated financial statements and related notes included elsewhere in this prospectus.

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

<u>Quarterly Consolidated Statements of Operations</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Revenue | $100184 | $180954 | $240618 | $164874 | $129015 | $246068 | $301571 | $210065 | $170150 |
| Cost of revenue<sup>(1)</sup> | 72207 | 96545 | 127626 | 109179 | 100130 | 136970 | 158954 | 145218 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 27977 | 84409 | 112992 | 55695 | 28885 | 109098 | 142617 | 64847 | 44591 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Selling, general and administrative<sup>(1)</sup> | 30913 | 31360 | 39719 | 41734 | 35914 | 39921 | 46575 | 47050 | 45005 |
| &nbsp;&nbsp;Operations and support<sup>(1)</sup> | 12158 | 12909 | 11952 | 11918 | 11841 | 13604 | 13511 | 12680 | 13391 |
| &nbsp;&nbsp;Research and development<sup>(1)</sup> | 8727 | 10695 | 11593 | 10426 | 12552 | 14031 | 13628 | 13739 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 51798 | 54964 | 63264 | 64078 | 60307 | 67556 | 73714 | 73469 | 73623 |
| Operating income (loss) | (23821) | 29445 | 49728 | (8383) | (31422) | 41542 | 68903 | (8622) | (29032) |
| Interest expense | (4844) | (5002) | (5097) | (5339) | (5123) | (5155) | (5187) | (5161) | (5159) |
| Other income (expense), net | 1858 | (19788) | (18088) | (20186) | (17082) | (12530) | (31160) | (38233) | (25239) |
| &nbsp;&nbsp;&nbsp;Loss before income taxes | (26807) | 4655 | 26543 | (33908) | (53627) | 23857 | 32556 | (52016) | (59430) |
| Provision for income taxes | (423) | 815 | 3950 | 54 | 2337 | 3352 | 1656 | 2734 | 1856 |
| &nbsp;&nbsp;&nbsp;Net loss | $(26384) | $3840 | $22593 | $(33962) | $(55964) | $20505 | $30900 | $(54750) | $(61286) |

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_____________

(1)Includes stock-based compensation expense as follows:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Cost of revenue | $11 | $6 | $10 | $9 | $9 | $9 | $6 | $4 | $5 |
| Selling, general and administrative | 1558 | 1251 | 1487 | 1544 | 1588 | 1458 | 1444 | 1398 | 1706 |
| Operations and support | 402 | 433 | 435 | 427 | 372 | 342 | 278 | 185 | 194 |
| Research and development | 910 | 1078 | 1139 | 1108 | 1183 | 1161 | 944 | 817 | 737 |
| Total stock-based compensation | $2881 | $2768 | $3071 | $3088 | $3152 | $2970 | $2672 | $2404 | $2642 |

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<u>Consolidated Statements of Operations, as a percentage of revenue</u>

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Cost of revenue | 72% | 53% | 53% | 66% | 78% | 56% | 53% | 69% | 74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 28% | 47% | 47% | 34% | 22% | 44% | 47% | 31% | 26% |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Selling, general and administrative | 31% | 17% | 17% | 25% | 28% | 16% | 15% | 22% | 26% |
| &nbsp;&nbsp;Operations and support | 12% | 7% | 5% | 7% | 9% | 6% | 4% | 6% | 8% |
| &nbsp;&nbsp;Research and development | 9% | 6% | 5% | 6% | 10% | 6% | 5% | 7% | 9% |
| &nbsp;&nbsp;&nbsp;Total operating expenses | 52% | 30% | 26% | 39% | 47% | 27% | 24% | 35% | 43% |
| Operating income (loss) | (24)% | 16% | 21% | (5)% | (24)% | 17% | 23% | (4)% | (17)% |
| Interest expense | (5)% | (3)% | (2)% | (3)% | (4)% | (2)% | (2)% | (2)% | (3)% |
| Other income (expense), net | 2% | (11)% | (8)% | (12)% | (13)% | (5)% | (10)% | (18)% | (15)% |
| &nbsp;&nbsp;&nbsp;Loss before income taxes | (27)% | 3% | 11% | (21)% | (42)% | 10% | 11% | (25)% | (35)% |
| Provision for income taxes | —% | —% | 2% | —% | 2% | 1% | 1% | 1% | 1% |
| &nbsp;&nbsp;&nbsp;Net loss | (26)% | 2% | 9% | (21)% | (43)% | 8% | 10% | (26)% | (36)% |

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<u>Quarterly Key Operating Metrics</u>

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: | **Three Months Ended**: |
| | **Mar 31,<br>2024** | **Jun 30,<br>2024** | **Sept 30, 2024** | **Dec 31,<br>2024** | **Mar 31,<br>2025** | **Jun 30,<br>2025** | **Sept 30, 2025** | **Dec 31,<br>2025** | **Mar 31,<br>2026** |
| Average Operational Fleet | 205973 | 287736 | 319393 | 290199 | 265530 | 333827 | 355984 | 344073 | 324477 |
| RVD ($) | $5.34 | $6.91 | $8.19 | $6.18 | $5.40 | $8.10 | $9.21 | $6.64 | $5.83 |
| MAU ('000s) | 2061 | 3311 | 4015 | 3122 | 2578 | 4114 | 4705 | 3778 | 3137 |

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<u>Quarterly Trends</u>

*Revenue*

Revenue increased for all quarters presented compared to the same quarter in the prior year, driven by growth in average operational fleet, MAU and RVD, each of which increased for all quarters presented compared to the same quarter in the prior year. This growth resulted from enhanced customer engagement and broader market adoption of our services. Quarter-over-quarter performance reflects seasonal demand fluctuations, with revenue peaking in the second and third quarters due to favorable weather conditions in many operating regions, which boost user activity during warmer and drier months. However, our revenue trend in the first quarter of 2026 as compared to the first quarter of 2025 also reflected outsized growth in the rest of the world as a result of our investment in markets that are counter-seasonal to our primary markets.

*Cost of Revenue*

Cost of revenue increased for all quarters presented compared to the same quarter in the prior year, driven by higher operational activity corresponding with the growth in MAU and RVD. Additionally, during 2025, the cost of revenue as a percentage of revenue increased compared to the same quarters in 2024,

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except for the third quarter of 2025, primarily due to a change in depreciation methodology from a usage-based to a straight-line method (refer to <u>[Note 4](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> of our audited consolidated financial statements) such that depreciation as a percentage of revenue decreases in periods of peak usage and revenue.

*Selling, General and Administrative* 

Selling, general, and administrative expenses increased for all quarters presented compared to the same quarter in the prior year. This increase was primarily driven by higher personnel-related compensation costs due to headcount growth and non-recurring costs incurred associated with our public company readiness efforts.

Expenses as a percentage of revenue decreased year-over-year compared to the prior year, reflecting improved operational efficiency and revenue growth outpacing the rise in costs. Additionally, selling, general, and administrative expenses as a percentage of revenue are lower in the second and third quarters due to seasonal demand fluctuations during these periods, as many of these expenses remain fixed regardless of revenue seasonality.

*Operations and Support*

Operations and support expenses remained consistent or increased for all quarters presented compared to the same quarter in the prior year. The increases were driven by higher costs to support revenue growth, reflecting investments in customer service, central operations, logistics, and overall infrastructure scaling. As a percentage of revenue, operations and support expenses decreased each quarter when compared to the same quarter in the previous year. This decline reflects improved operational efficiency and our ability to manage operational expenses effectively while accommodating increased user activity and geographic expansion.

*Research and Development* 

Research and development expenses increased for all quarters presented compared to the same quarter in the previous year. The increases were primarily driven by investments in developing new features, optimizing existing technology, and expanding our engineering teams to support growth initiatives. Quarter-over-quarter variations in research and development expenses align with strategic priorities and the timing of significant development projects aimed at sustaining competitive differentiation and addressing the evolving mobility needs of cities and rider preferences.

*Interest Expense* 

Interest expense remained stable quarter-over-quarter, primarily driven by fixed payments associated with our convertible notes and debt obligations.

*Other Expense, net*

Other expense, net, fluctuated significantly during each period presented, primarily due to fair value adjustments related to our 2021 Notes and the impact of foreign currency gains and losses resulting from exchange rate volatility.

**Liquidity and Capital Resources** 

As of March 31, 2026, our principal sources of liquidity were cash and cash equivalents of approximately $261.3 million which consisted of bank deposits, institutional money market funds and certificates of deposits denominated in U.S. dollars and excludes short-term restricted cash of $77.3 million which consisted primarily of amounts held in separate trust accounts and restricted bank accounts as collateral for insurance purposes and amounts pledged to secure certain letters of credit.

Historically, we have funded our capital-intensive operations and capital expenditures primarily through equity, equity-linked and debt issuances and cash generated from our operations. We have

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principal payments on the 2020 Notes, 2021 Notes and the Senior Secured Term Loan of approximately $845.8 million due within twelve months from the issuance of our unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2026 and we do not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about our ability to continue as a going concern for at least one year from the date our condensed consolidated financial statements as of and for the three months ended March 31, 2026 were available for issuance. Our ability to continue as a going concern is dependent upon the consummation of our initial public offering. If our initial public offering is not completed as planned, our ability to continue as a going concern is dependent upon our ability to obtain necessary financing to meet our obligations or the ability to obtain an amendment to our 2021 Notes on acceptable terms.

Substantially concurrently with, and conditioned upon, the completion of this offering, we intend to enter into a new $200.0 million revolving credit facility. The following is a summary of the expected material terms of our Revolving Credit Facility. However, the final terms may not be determined until shortly before the completion of this offering and may differ from those described below. We, as borrower, expect to enter into a new credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and various lenders (the "New Credit Agreement") to provide for the Revolving Credit Facility. Pursuant to the New Credit Agreement, certain of our current or future domestic subsidiaries may be required to become guarantors under the New Credit Agreement and to guarantee our obligations under the Revolving Credit Facility. Simultaneously with the execution of the New Credit Agreement, we will enter into a security agreement. Pursuant to the security agreement, the Revolving Credit Facility will be secured by liens on substantially all of our assets, including our intellectual property and the equity interests of certain of our direct subsidiaries. The New Credit Agreement will contain certain affirmative and negative covenants, including, among other things, restrictions on indebtedness, liens on assets, issuance of preferred equity interests, fundamental changes and asset sales, investments, negative pledges, repurchase of stock, dividends and other distributions, sale and leaseback transactions, and transactions with affiliates. In addition, the New Credit Agreement will also contain financial covenants that require us to not exceed a maximum total net leverage ratio and to maintain a minimum fixed charge coverage ratio. Borrowings under the New Credit Agreement will be available as Term SOFR or base rate loans. Base rate loans under the New Credit Agreement are expected to accrue interest at an alternate base rate plus an applicable margin, and Term SOFR loans are expected to accrue interest at a forward looking rate based on SOFR plus an applicable margin, each of which will be set out in the New Credit Agreement. The alternate base rate will represent the greater of (i) the prime rate, (ii) the Federal Reserve's Bank of New York overnight rate plus 0.5% and (iii) the one-month Term SOFR rate plus 1.0%. The applicable rate for base rate and Term SOFR loans will be tied to a pricing grid based on our total net leverage ratio. The applicable rate spread for base rate and Term SOFR loans is expected to range from 0.50% to 1.25% and 1.50% to 2.25%, respectively. The Revolving Credit Facility will also have a variable commitment fee, which will be based on our total net leverage ratio. We expect the commitment fee to range from 0.25% to 0.40% per annum. We will be obligated to pay a fixed fronting fee for letters of credit not to exceed 0.125% per annum. Amounts borrowed under the Revolving Credit Facility may be repaid and re-borrowed through its maturity five years after the closing date.

Our future capital requirements will also depend on many factors, including, but not limited to our growth, our ability to attract and retain riders and cities on our platform, the continuing market acceptance of our offerings, the timing and extent of spending to support our efforts to develop our platform and the expansion of sales and marketing activities. Further, we may in the future enter into arrangements to acquire or invest in businesses, products, services, and technologies.

We may be required to seek additional equity or debt financing. In the event that additional equity or debt financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. If we are unable to raise additional capital when needed, our business, financial condition, results of operations, and prospects could be materially and adversely affected.

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***Cash Flows***

The following table summarizes our cash flows for the periods indicated:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  | **Three Months Ended March 31** | **Three Months Ended March 31** |
| | **2023** | **2024** | **2025** | **2025** | **2026** |
|  | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** | ***(in thousands)*** |
| Net cash provided by (used in) operating activities | $81199 | $168953 | $214841 | $(20615) | $(22302) |
| Net cash used in investing activities | (80128) | (121652) | (111053) | (51539) | (56889) |
| Net cash provided by financing activities | 2214 | 3053 | 1610 | 1912 | 9530 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 3408 | (9209) | 9571 | 2751 | (1733) |
| Net increase (decrease) in cash and cash equivalents, and restricted cash | $6693 | $41145 | $114969 | $(67491) | $(71394) |

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***Operating Activities***

Cash used by operating activities was $22.3 million for the three months ended March 31, 2026. This consisted of a net loss of $61.3 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $30.3 million and a loss on change in fair value of the 2021 Notes of $25.0 million. These amounts were partially offset by a $16.3 million increase in prepaid expenses and other current assets due to investment in spare parts ahead of our peak season.

Cash used by operating activities was $20.6 million for the three months ended March 31, 2025. This primarily consisted of a net loss of $56.0 million and a $15.4 million decrease in accrued and other liabilities due to the timing of payments. These amounts were partially offset by non-cash items, which primarily included depreciation and amortization expense of $28.4 million and loss on change in fair value of the 2021 Notes of $26.8 million.

Cash provided by operating activities was $214.8 million for the year ended December 31, 2025. This consisted of a net loss of $59.3 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $124.7 million, loss on change in fair value of the 2021 Notes of $125.0 million, stock-based compensation expense of $11.2 million, combined with a $25.1 million increase in accrued and other liabilities due to the timing of payments.

Cash provided by operating activities was $169.0 million for the year ended December 31, 2024. This consisted of a net loss of $33.9 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $89.5 million, loss on change in fair value of the 2021 Notes of $41.0 million, stock-based compensation expense of $11.8 million combined with a $25.0 million increase in accrued and other liabilities due to the timing of payments.

Cash provided by operating activities was $81.2 million for the year ended December 31, 2023. This consisted of a net loss of $122.4 million, adjusted for non-cash items, which primarily included depreciation and amortization expense of $106.3 million, loss on change in fair value of the 2021 Notes of $77.2 million, stock-based compensation expense of $11.5 million combined with a $18.2 million increase in accrued and other liabilities due to the timing of payments.

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***Investing Activities***

Cash used in investing activities was $56.9 million and $51.5 million for the three months ended March 31, 2026 and 2025, respectively, which was largely driven by purchases of vehicle assets of $52.5 million and $48.4 million for the three months ended March 31, 2026 and 2025, respectively, as we invested in growing our fleet. We also purchased non-vehicle assets to support our overall business growth.

Cash used in investing activities was $111.1 million, $121.7 million and $80.1 million for the years ended December 31, 2025, 2024 and 2023, respectively, which was largely driven by purchases of vehicle assets of $97.9 million, $104.5 million and $65.1 million for the years ended December 31, 2025, 2024 and 2023, respectively, as we invested in growing our fleet. We also purchased non-vehicle assets to support our overall business growth.

***Financing Activities***

Cash provided by financing activities was $9.5 million for the three months ended March 31, 2026, which primarily consisted of $9.1 million received for the settlement of promissory notes issued in exchange for the early exercise of stock options.

Cash provided by financing activities was $1.9 million for the three months ended March 31, 2025, which consisted entirely of proceeds from the exercise of stock options and other common stock issuances.

Cash provided by financing activities was $1.6 million for the year ended December 31, 2025, which primarily consisted of $6.4 million of proceeds from the exercise of stock options and other common stock issuances, partially offset by $4.8 million of deferred offering costs.

Cash provided by financing activities was $3.1 million for the year ended December 31, 2024 which consisted entirely of proceeds from the exercise of stock options and other common stock issuances.

Cash provided by financing activities was $2.2 million for the year ended December 31, 2023 which primarily consisted of $112.7 million of net proceeds from issuance of our Senior Secured Term Loan, partially offset by $105.0 million of principal repayment on prior term loans and $5.3 million of payments of fees relating to prior term loans.

**Contractual Obligations and Commitments** 

***Debt.*** As of March 31, 2026, we had $115.0 million of outstanding debt under our Senior Secured Term Loan that is due in September 2026. We also had $536.1 million aggregate principal amount, and accrued in PIK interest, of 2021 Notes outstanding and $170.0 million aggregate principal amount of 2020 Notes outstanding that will be due in October 2026 and May 2027, respectively, if not converted prior to that date. For additional discussion of our debt arrangements, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_206)[9](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> to our audited consolidated financial statements and <u>[Note 8](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> to our unaudited condensed consolidated financial statements included elsewhere in this prospectus.

***Operating lease commitments.*** Our operating lease commitments primarily consist of the leases for our warehouses, hubs, offices and vehicles. As of March 31, 2026, we had fixed lease payment obligations of $43.7 million, with $10.2 million to be paid within 12 months and the remainder thereafter. For additional discussion of our operating leases, see <u>[Note 7](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

***Letters of credit.*** We maintain various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual agreements. The letters of credit are collateralized by restricted cash and we had an outstanding balance of $82.6 million as of March 31, 2026.

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**Off-Balance Sheet Arrangements** 

We did not have during the periods presented, and we do not currently have, any off-balance sheet financing arrangements or any relationships with unconsolidated entities or financial partnerships, including entities sometimes referred to as structured finance or special purpose entities, that were established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

**Qualitative and Quantitative Disclosures about Market Risk** 

We are exposed to market risks in the ordinary course of our business. These risks primarily consist of fluctuations in interest rates and foreign currency exchange rates. As of March 31, 2026, we did not enter into derivatives or other financial instruments for trading or speculative purposes, and we did not otherwise have any derivative or other financial instruments outstanding. Beginning in April 2026, we entered into certain foreign currency derivative contracts which are intended to partially mitigate the foreign exchange risk associated with assets and liabilities denominated in currencies other than our functional currency.

Inflationary factors, such as increases in our costs of revenues and operating expenses, may adversely affect our operating results. Although we do not believe inflation has had a material impact on our financial condition, results of operations, or cash flows to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain and increase our gross margin or decrease our operating expenses as a percentage of our revenues if the prices of our services do not increase as much or more than our increase in costs.

***Interest Rate Risk***

As of March 31, 2026, we had unrestricted cash and cash equivalents of approximately $261.3 million which consisted primarily of bank deposits, institutional money market funds and certificates of deposits and short-term and long-term restricted cash of $82.6 million which consists of amounts pledged as security for letters of credits or other collateral amounts as well as amounts that are unavailable for immediate use due to legal and/or contractual restrictions. The fair value of our cash and cash equivalents would not be significantly affected by either an increase or decrease in interest rates given the short-term nature of these instruments.

As of March 31, 2026, we had $115.0 million of outstanding debt under our Senior Secured Term Loan that is due in September 2026. We also had $536.1 million aggregate principal amount, and accrued in PIK interest, of 2021 Notes outstanding and $170.0 million aggregate principal amount of 2020 Notes outstanding that will be due in October 2026 and May 2027, respectively, if not converted prior to that date. All of our outstanding debt bears interest at fixed rates. We carry the Senior Secured Term Loan and the 2020 Notes at face value, less unamortized discount and issuance costs on the consolidated balance sheet, and we carry the 2021 Notes at fair value with changes in fair value recorded as a component of other expense, net. The fair value of the 2021 Notes will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of increasing rates of interest. A hypothetical 100 basis point increase (decrease) in interest rates would have resulted in an approximately $0.8 million decrease ($0.8 million increase) in the fair value of the 2021 Notes as of March 31, 2026.

***Foreign Currency Exchange Risk***

We transact business globally in multiple currencies. Our international revenue, as well as costs and expenses denominated in foreign currencies, expose us to the risk of fluctuations in foreign currency exchange rates against the U.S. dollar. Accordingly, changes in exchange rates may negatively affect our future revenue and other operating results as expressed in U.S. dollars. Our foreign currency risk is partially mitigated as our revenue recognized in currencies other than the U.S. dollar is diversified across geographic regions and we incur expenses in the same currencies in such regions.

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We have experienced and will continue to experience fluctuations in our results of operations as a result of transaction gains or losses related to remeasurement of our asset and liability balances that are denominated in currencies other than the functional currency of the entities in which they are recorded. Beginning in April 2026, we entered into certain foreign currency derivative contracts which are intended to partially mitigate the foreign exchange risk associated with assets and liabilities denominated in currencies other than our functional currency. While these contracts may help reduce the impact of foreign currency fluctuations, they will not fully eliminate this risk.

**Critical Accounting Policies and Estimates**

Our consolidated financial statements and the related notes thereto included elsewhere in this prospectus are prepared in accordance with GAAP. The preparation of consolidated financial statements also requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ significantly from our estimates. To the extent that there are differences between our estimates and actual results, our future financial statement presentation, financial condition, results of operations and cash flows will be affected.

We believe that the accounting policies described below involve a significant degree of judgment and complexity. Accordingly, we believe these are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations. For further information, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_132)[1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

***Vehicle Assets, Net***

Our vehicles consist of our fleet of e-scooters and e-bikes, as well as costs incurred to bring the vehicles and related swappable batteries to the condition and location necessary for their intended use, such as shipping, freight, and various customs duties.

Prior to January 1, 2025, vehicle assets were depreciated using a usage-based depreciation methodology. The methodology involved the calculation of depreciation expense for each vehicle based on the number of trips taken as a percentage of total trips expected and factored in actual, historical, and other data for different vehicle types. The methodology applied to swappable batteries involved the calculation of depreciation expense for each battery based on the number of trips taken as a percentage of total trips expected and factors in the expected life cycle per manufacturer's specifications, estimated swaps and charge cycles per year and the expected number of years until the battery becomes obsolete.

Effective January 1, 2025, we changed our depreciation methodology for vehicle assets from a usage-based method to a straight-line method. We determined that the change in depreciation method is a change in accounting estimate affected by a change in accounting principle to be applied prospectively. The change is considered preferable as we believe the straight-line method will more accurately reflect the pattern of economic consumption of vehicle assets and result in improved financial reporting. We estimate useful lives of five years for e-scooters and e-bikes and four years for swappable batteries.

We review and update our estimated useful life assumptions on a regular basis.

***Fair Value Option***

We elected the fair value option to account for the 2021 Notes, which are measured at fair value with changes in fair value recorded as a component of other expense, net in our consolidated statements of operations and changes in instrument-specific credit risk in our consolidated statements of comprehensive loss.

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***Insurance***

We rely on a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability, excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

We establish a claims reserve for unpaid losses and loss adjustment expenses for risks retained by us through our retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. We employ various predictive modeling and actuarial techniques and make numerous assumptions based on available historical experience and industry statistics to estimate our claims reserve.

While management believes that the claims reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. A number of external factors can affect the losses incurred, including but not limited to claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may vary from the estimated amounts provided for on the consolidated balance sheets. For a discussion of risks related to our insurance, see "Risk Factors—Risks Related to Legal and Regulatory Matters—We rely on third-party insurance policies to insure against risks related to our business. If insurance carriers change the terms of such insurance in a manner not favorable to us, if our insurance coverage is insufficient, if we are required to purchase additional insurance, if regulations governing insurance coverages change, or if our insurance providers are unable or unwilling to meet their obligations, our business, financial condition, results of operations, and prospects could be adversely affected" and "Risk Factors—Risks Related to Legal and Regulatory Matters—Our insurance claims reserve may be inadequate, which could adversely affect our business, financial condition, results of operations, and prospects."

***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying our stock options and RSUs on the grant date has been determined by the board of directors, as there is no public market for our underlying common stock. We recognize stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. Certain awards vest monthly over a three year period, while other awards cliff vest after one-year and then vest monthly over the remaining two years. We record forfeitures as they occur.

We use the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

Since our stock is not publicly traded, we obtained an independent, third-party valuation to determine the fair value of our common stock, considering the nature of our business, earning capacity, distribution capacity and other material events and general market conditions and outlooks. The expected volatility is based on the historical and implied volatility of similar companies whose stock or option prices are publicly available, after considering the industry, stage of life cycle, size, market capitalization, and financial leverage of the other companies. The risk-free interest rate assumption is based on observed

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U.S. Treasury yield curve interest rates in effect at the time of grant appropriate for the expected term of the stock options granted. We have not paid dividends in the past and do not expect to pay dividends in the foreseeable future. As a result, a zero expected dividend yield is used. We use the simplified method to compute the expected term for options granted to employees which averages the weighted average vesting period and the contractual term on the valuation date.

We also grant stock options with performance conditions and market conditions. No stock-based compensation expense for these awards was recorded in the year ended December 31, 2025 and the three months ended March 31, 2026, as the performance conditions were not deemed probable of being met. Total stock-based compensation expense not yet recognized related to these awards was immaterial as of December 31, 2025 and March 31, 2026.

In 2025, we began granting RSUs that vest upon the satisfaction of both service-based and liquidity-based vesting conditions. The service-based vesting period for these awards is typically 3 years, provided the grantee remains in continuous service. Upon satisfaction of the liquidity-based vesting condition, RSUs for which the service-based vesting condition has also been satisfied will vest immediately, and any remaining unvested RSUs will vest ratably over the remaining service period. The liquidity-based condition will be satisfied upon the completion of this offering. If the liquidity-based vesting condition had been satisfied as of March 31, 2026, we would have recorded stock-based compensation expense of $19.2 million, and unrecognized stock-based compensation expense related to RSUs for which the service-based condition had not been satisfied as of March 31, 2026 would have been $71.1 million, which would have been recognized over a weighted-average remaining requisite service period of 1.2 years.

**JOBS Act Accounting Election** 

We are an emerging growth company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to avail ourselves of this exemption from new or revised accounting standards. As a result, our consolidated financial statements may or may not be comparable to companies that comply with new or revised accounting pronouncements as of the effective dates applicable to public companies.

**Recent Accounting Pronouncements** 

For more information on recently issued accounting pronouncements, see <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_132)[1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

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**BUSINESS**

**Overview**

Lime is the largest global shared micromobility business. We are on a mission to build a future where transportation is shared, affordable, and carbon-free.

Lime provides convenient and reliable short-term rentals of e-scooters and e-bikes at an affordable price. As of December 31, 2025, we operated in approximately 230 cities<sup>7</sup> across 29 countries<sup>8</sup>. In 2025, we delivered a seamless rider experience to approximately 19 million riders. Our market leadership and scale have made Lime a widely recognized brand — valued by riders for our availability and trusted by cities for our operating track record. This leadership and scale have also yielded favorable unit economics, enabling us to continue investing in our growth.

The shared micromobility industry, encompassing shared e-scooters and e-bikes, presents a transformative opportunity to address the problems of urban mobility. Cities seek transportation options that relieve congestion, reduce emissions, and serve different neighborhoods; riders desire convenient, affordable, and sustainable alternatives for short trips. Balancing the needs of riders and cities — and doing so across approximately 230 cities — is operationally challenging and requires technology to solve at scale.

Lime has revolutionized the shared micromobility industry through our vertically integrated platform, which combines our proprietary hardware and software, data, tech-enabled operations, and government relations expertise. Our vertical integration allows us to maintain control of key aspects of our service and is designed to accelerate rider adoption, boost usage frequency, facilitate regulatory compliance, and optimize cost efficiency — fueling sustainable growth while solidifying trusted partnerships with cities and positioning us as a leader in the shared micromobility industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware</u>: Our electric vehicle fleet consists of e-scooters, e-bikes, and seated e-scooters, and operates on a "free-floating" model — meaning e-scooters or e-bikes that are dockless and can be parked in a variety of locations — which is designed to provide maximum convenience to riders and flexibility to cities. We design and engineer our vehicles in-house to elevate the rider experience, support regulatory compliance, enhance safety, and reduce our lifetime cost of ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software</u>: Lime's proprietary technology stack seamlessly connects our hardware, software, and operations through three core systems: the Rider App for riders, an operations-facing app, the Lime Supply App for operations management, and an IoT-enabled hardware system for vehicle intelligence. The Rider App enables frictionless vehicle discovery and locking/unlocking, while the Lime Supply App equips our operations workforce to manage and maintain our fleet. Within the Lime Supply App, predictive analytics prioritize vehicles requiring repositioning from one location to another, charging, or maintenance while machine learning forecasts demand patterns to help optimize fleet placement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data</u>: Our platform harnesses data, such as rider behavior, operational workflows, and hardware/software diagnostics, to inform dynamic decision-making in real-time and our hardware design. Leveraging data from vehicle usage trends, gaps in demand, prioritized operational field tasks, and external inputs like weather help us to optimize fleet performance and advance city congestion goals.

<sup>7</sup>&nbsp;&nbsp;&nbsp;&nbsp; As used in this prospectus, a "city" may refer to a metropolitan area that may be a city or could include regions outside of city limits or in defined areas of operation within a metropolitan area.

<sup>8</sup>&nbsp;&nbsp;&nbsp;&nbsp; The principal countries we have operated in are the United States, the United Kingdom, and France from which we generated 33%, 15%, and 11% of total revenue, respectively, in 2023, 34%, 21%, and 10%, respectively, in 2024, 32%, 22%, and 10%, respectively, in 2025, and 29%, 23%, and 8%, respectively, in the three months ended March 31, 2026.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations</u>: Our tech-enabled operations address shared micromobility's logistical complexity — including volatile demand, workforce availability, and the challenges of operating in dense urban environments — by utilizing software and data in day-to-day decision-making. Our operations software tactically informs vehicle deployment, maintenance, and repositioning tasks, transforming physical workflows into scalable, predictive processes. By leveraging data-driven tools to guide fleet allocation and task prioritization across our markets, subject to local regulatory and labor frameworks, we believe we can maximize vehicle availability and operational efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations</u>: Our dedicated government relations and local customer service teams collaborate closely with cities to establish scalable transportation systems and forge policies that are designed to address and evolve with both rider and urban needs. We pair our operational expertise with deep local knowledge and in-depth discussions with city officials to secure permits to operate in a city and co-create shared micromobility systems that align with city priorities, such as equitable access and public transit connectivity.

Our platform creates a self-reinforcing, virtuous network effect that aligns value for riders and city priorities: more riders using our service enables cities to meet their local policy goals faster, which encourages cities to expand shared micromobility programs and invest in additional infrastructure, which in turn enhances the rider experience and attracts even more riders. What started as convenience enjoyed by individual riders has, through our platform, reshaped how people move around cities, which demonstrates that shared micromobility isn't just viable but can be an essential component of urban life.

The extensive presence of our electric vehicles in cities around the world has established our brand with the public, reinforcing our leadership position in the shared micromobility industry. Each of our e-scooters and e-bikes serves as mobile advertisements within the cities in which we operate, continuously reinforcing brand recognition. Our reach is further amplified through our network partnerships, including our mutually exclusive partnership with Uber. Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets, providing Lime with direct access to Uber's global user base. Revenue generated through our partnership with Uber was approximately 14.1%, 15.8%, and 14.3% of total revenue in 2023, 2024, and 2025, respectively, and was approximately 14.5% and 14.0% for the three months ended March 31, 2025 and March 31, 2026, respectively.

We believe our platform, combined with our global scale, market leadership, brand awareness, efficient operating model, and network partnerships creates significant competitive advantages, which has positioned us as a leader in the shared micromobility industry, has fueled sustained growth over time, and has contributed to our significant market share. We calculate our market share primarily using data for MAAUs from Sensor Tower for each of the countries we operated in and supplementing with publicly available information and our internal data. For the year ended December 31, 2025, our market share across both docked and dockless shared micromobility operators was approximately 27% across the countries we operated in, representing a 1% increase from the prior year and nearly three times the market share of the next largest operator by MAAUs, and 37% in the United States, representing a 4% increase from the prior year. When focusing solely on dockless shared micromobility operators, our market share was approximately 35% across the countries we operated in and 48% in the United States, representing a 2% and 6% increase from the prior year, respectively.

We view our opportunity in terms of serviceable addressable market opportunity ("SAM"), which we believe we can address today, and our total addressable market opportunity ("TAM"), which we believe we can address over the long term. We estimate our SAM to be approximately $6.1 billion. Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of the addressable population within our existing cities, which we define as individuals ages 18-45 years old with a household income of over $55,000 per year. However, we see that in our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population. To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion

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opportunities within the next five years. At an adoption rate of 30% of riders in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people within our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

Our financial performance demonstrates the resilience and strength of our platform. In 2023, 2024, and 2025, we generated revenue of $522.0 million, $686.6 million, and $886.7 million, respectively, representing year-over-year growth of 32% and 29%. In the same periods, we recorded gross profit of $169.2 million, $281.1 million, and $345.4 million, respectively, representing year-over-year growth of 66% and 23%, and Adjusted Gross Profit of $276.3 million, $368.6 million, and $467.2 million, respectively, representing year-over-year growth of 33% and 27%. In 2023, 2024, and 2025, we had net losses of $122.4 million, $33.9 million, and $59.3 million, respectively. In 2023, 2024, and 2025, we recorded Adjusted EBITDA of $99.8 million, $153.4 million, and $218.1 million, respectively, representing year-over-year growth of 54% and 42%, and operating (loss) income of $(24.6) million, $47.0 million, and $70.4 million, respectively.

In the three months ended March 31, 2025 and March 31, 2026, we generated revenue of $129.0 million and $170.2 million, respectively, representing year-over-year growth of 32%. In the same periods, we recorded gross profit of $28.9 million and $44.6 million, respectively, representing year-over-year growth of 54%, and Adjusted Gross Profit of $56.5 million and $74.2 million, respectively, representing year-over-year growth of 31%. In the three months ended March 31, 2025 and March 31, 2026, we had net losses of $56.0 million and $61.3 million, respectively. In the three months ended March 31, 2025 and March 31, 2026, we recorded Adjusted EBITDA of $2.1 million and $7.5 million, respectively, representing year-over-year growth of 250%, and operating losses of $31.4 million and $29.0 million, respectively.

For a reconciliation of Adjusted Gross Profit and Adjusted EBITDA to the most directly comparable GAAP financial measures, information about why we consider Adjusted Gross Profit and Adjusted EBITDA useful, and a discussion of the limitations of these measures, please see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures."

**The Shared Micromobility Industry**

Shared micromobility facilitates short-distance urban travel, typically under five miles, using shared lightweight vehicles like e-scooters and e-bikes. Riders use a mobile app to locate, unlock, and ride nearby vehicles, offering an affordable, convenient complement to public transit and an alternative to private cars.

The shared micromobility industry emerged in the mid-2000s with the introduction of government-sponsored dock-based bike-share systems in major cities, which established the foundation for shared micromobility but also exposed key constraints. These systems relied on bulky manual bikes with limited rider appeal, low connectivity and imprecise GPS geolocation technology, and fixed docking stations that restricted riders to specific pick-up and return points. The physical stations lacked sufficient density, which curbed adoption for these systems and created latent demand for more flexible and scalable solutions.

The limitations of traditional docked systems spurred significant breakthroughs in shared micromobility resulting in the emergence of the modern micromobility industry in 2017, driven by technological advancements in smartphones, GPS tracking, IoT connectivity, and batteries. Within the United States, the number of app-enabled free-floating systems has grown five-fold since their introduction in 2017, while the number of traditional docked systems have declined by nearly 50% over the same period according to the U.S. Department of Transportation in 2025.

With the majority of journeys relying on cars and public transportation globally, and travel and tourism driving an estimated $11 trillion in annual global spending in 2024 according to the World Travel and Tourism Council, shared micromobility has emerged as a critical solution for two of urban mobility's

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largest and most impactful opportunities: replacing car-dependent routines and enhancing visitor experiences. These opportunities can be categorized into two primary use cases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Commuting</u>: Urban areas face increasing congestion, while limited parking availability and high parking costs create additional challenges for commuters. Shared e-scooters and e-bikes provide a time- and cost-efficient alternative or complement to private cars and public transit for riders who are commuting to and from work or school. This mode of transportation can reduce travel time, eliminate parking costs, and bridge the first- and last-mile gap between transit stations and destinations. Riders can also depend on shared micromobility to navigate quickly between meetings in congested cities or for everyday errands, such as grocery runs and pharmacy visits, which are inconvenient for cars in traffic or often inefficient on foot.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tourism</u>: Tourists can embrace shared micromobility as an immersive way to explore cities, valuing experiences that blend serendipity, sensory engagement, and fun. Shared micromobility offers sensory benefits similar to walking with an affordable and flexible mode of transportation to neighborhoods and shops beyond the reach of buses or trains, but enabling exploration at up to five times the speed of walking. Whether exploring a city's neighborhoods, visiting a museum, or bypassing traffic on the way to the shopping district, shared micromobility transforms how people are able to navigate cities while having fun.

As riders experience the convenience, availability, and flexibility of shared micromobility, its applications continue to expand well beyond commuting and tourism. Riders continue to discover new use cases for multimodal shared micromobility, fueled by social outings to local entertainment and special events or local commerce. Whether on a date night, meeting friends for coffee, or attending a sporting event or concert, shared micromobility seamlessly integrates into urban living, transforming transportation into an enjoyable part of the day.

**What It Takes to Operate in the Shared Micromobility Industry**

Any company seeking to operate within the shared micromobility industry must be able to meet three prerequisite criteria: permits and operating compliance, compliant hardware, and operations workforce.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Permits and Operating Compliance</u>: Permits are often required to legally operate a shared micromobility fleet on public streets within a city's limits. Cities often grant a limited number of permits, usually to one to three shared micromobility operators, through a competitive bid process. Securing a permit requires that the micromobility operator have a deep understanding of each city's unique needs and priorities, which can vary significantly based on factors such as population density, transportation infrastructure, and local policy priorities. Once a permit is granted, micromobility operators must maintain compliance with applicable regulations and other operating requirements specified in the permit in order to retain and renew the permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant Hardware</u>: Micromobility operators must deploy vehicles that meet certain regulatory standards and comply with technical specifications mandated by the permit. These hardware requirements may include specifications regarding vehicle size, weight, acceleration, speed, braking, lighting, control systems, and electrical safety standards, as well as any local regulations related to battery safety, charging, and safe handling. Additionally, micromobility operators must contemplate the end-of-life processing for both vehicles and batteries in accordance with federal, state and local regulations governing materials, recycling and second-use programs, and waste handling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>In-Field Teams</u>: A reliable in-field team is critical to ensure vehicles are well-maintained, properly parked, and promptly removed from restricted areas or unsafe areas. We utilize employees, logistics providers and contingent workers to perform these functions. Adequate coverage enables us to meet service level agreements with cities and comply with regulatory requirements. Insufficient coverage can result in service disruptions, fines or even permit revocation,

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highlighting the importance of effective in-field support for compliance, operational reliability, and strong city relationships.

**Secular Trends Driving Growth in Shared Micromobility**

As urban congestion rises, cities face mobility challenges that require alternative transportation solutions. Shared micromobility meets these needs by providing flexible, efficient, and space-saving options for short-distance travel. Several distinct trends serve as tailwinds to growth in the shared micromobility industry:

***Evolving consumer priorities***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Saving Time</u>: Heavy congestion results in significant time and productivity loss for urban travelers, with drivers in major cities including New York City, Chicago, and London losing an average of over 100 hours annually in congestion during peak commute periods compared to off-peak conditions according to the 2024 INRIX Traffic Scorecard. Whether commuting for work, running errands or attending entertainment events, people are actively traveling throughout the week. Increasingly, individuals are opting for e-scooters and e-bikes to bypass congestion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Saving Money</u>: Rideshare and vehicle ownership costs have escalated. Rideshare fares routinely spike during peak times, forcing travelers to wait or to overspend. In addition, the total costs of vehicle ownership have risen for reasons including increased expenses in parking, insurance, fuel and maintenance. Shared micromobility offers transparent pricing and a cost-efficient, reliable alternative to rideshare and other modes of transportation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Experiential Travel</u>: Consumers desire transportation options that offer more than just utility. Traveling via lightweight vehicles blends practicality with fun, transforming everyday trips into active, engaging urban experiences. This shift is pronounced in tourism, where city visitors look to explore in immersive, flexible, and sustainable ways. Tourists and short-term city visitors increasingly prefer shared e-scooters and e-bikes for urban exploration, citing convenience and experiential benefits as primary motivators, according to a 2023 study conducted by the University of North Florida.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Demographic Preferences</u>: We believe the increase in shared micromobility adoption is driven in part by a demographic shift, with younger generations showing less interest in driving. This shift is evident in the decline of 18-year-olds with driver's licenses from more than 80% in 1983 to 60% in 2022, according to the U.S. Department of Transportation. Additionally, many individuals are consciously choosing to reduce their carbon footprint, further fueling the demand for sustainable transportation. With the rise of ridesharing options as a replacement for driving, we believe these trends are poised to expand the market for transportation alternatives and broaden the potential rider base for shared micromobility.

***Broad government support***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Accommodating Increasing Urbanization</u>: Urban living is on the rise, with 58% of the global population residing in urban areas in 2024, a figure that the United Nations projects to increase to 68% by 2050. This trend, coupled with overall global population growth, could result in another 2.5 billion people living in urban areas by 2050. As cities become denser, the infrastructure to support increased private car usage is strained. In major cities like New York City and London, cars occupy the most road space while transporting a smaller share of travelers. Dedicated micromobility infrastructure, such as protected bike lanes, can move more people within the same space at potentially higher average speeds, offering cities a cost-efficient and scalable urban travel solution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reducing Car Congestion</u>: Global initiatives are combating congestion through micromobility expansion and policy shifts. The European Union, along with national and regional partners,

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dedicated €4.5 billion (including €3.2 billion for cycling) to sustainable transport from 2021 through 2027, while in 2020 the United Kingdom pledged £2 billion for active travel over five years, with the goal to make half of urban trips walk- or cycle-based by 2030. Cities are redesigning streets with pedestrian zones, bike lanes, and shared micromobility parking, while penalizing car usage through taxes, increased tolls, and limited parking. To encourage sustainable transportation and reduce air pollution, cities, including Oslo, Amsterdam, and London, are implementing or piloting low and no emission zones and pedestrianized areas, which are open to cyclists and scooter users. New York City recently joined London and Milan in adopting congestion pricing, with other major U.S. cities reportedly exploring similar initiatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reducing Carbon Emissions</u>: Many cities are committed to reducing carbon emissions and improving residents' quality of life. One in five cities aims to make cycling a preferred transit mode according to an analysis of applications submitted for the Bloomberg Initiative for Cycling Infrastructure, with over 700 cities across 53 countries pledging to halve carbon emissions by 2030 according to Oliver Wyman Forum. Shared electric micromobility vehicles produce around 60-70% less lifecycle grams of carbon dioxide emissions per passenger-kilometer than a typical EU fossil fuel car according to a report by the International Transport Forum.

**Our Market Opportunity**

We have a substantial opportunity in the evolving micromobility market. We view our opportunity in terms of our SAM, which we believe we can address today, and our TAM, which we believe we can address over the long term.

***Our Opportunity Today***

We estimate our SAM to be approximately $6.1 billion. We calculate this opportunity on the basis of two key inputs: the potential fleet in the cities where Lime currently operates and the estimated maximum RVD for each of those cities. To arrive at our SAM, we multiply these two inputs together and then by 365 days per year for each city.

Our SAM of $6.1 billion reflects current micromobility adoption of approximately 15% of addressable riders within our existing cities. For the purposes of sizing our market opportunity, our addressable population includes individuals ages 18-45 years old with a household income of over $55,000 per year, which we believe to be a conservative estimate of our potential population. In many of our more mature markets, the industry has reached adoption levels in the range of 30-40% among the addressable population. We believe there is potential to reach these levels of adoption across our existing cities, which would imply a SAM opportunity of approximately $12.0 billion at 30% adoption among our addressable population.

To estimate the potential fleet for each city, we estimate the addressable MAUs within a city and multiply by a fleet-to-MAU ratio for that city, which reflects our estimate of the number of vehicles needed to serve each MAU.

<u>Addressable MAUs</u>: We use MAAU data from Sensor Tower for each of the countries we operate in to estimate our market share within individual cities. We believe country-level market shares are indicative of our city-level market share and the best approximation available to us. We then take our average MAU in a city for 2025 and divide by our market share percentage to estimate the number of MAUs that are currently serviceable in the city.

<u>Fleet-to-MAU Ratio</u>: To determine appropriate fleet-to-MAU ratios for each city, we group each city into one of our four market categories (Megacity, Tourist Destination, Regional Hub, or Satellite Market). We apply the average fleet-to-MAU ratio to each city assigned to that market category. We believe the average for the category provides a more accurate representation of the potential we observe for fleet density in each city. The fleet-to-MAU ratio is calculated as the average daily operational fleet across all cities in the category divided by the MAUs for the same group in 2025.

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To calculate maximum RVD, we first group each of the cities into one of 12 different clusters based on the combination of two factors: (i) region (North America, Europe, and the rest of the world) and (ii) market categories (Megacity, Tourist Destination, Regional Hub, or Satellite Market). Maximum RVD is calculated by taking the average RVD of the top 10% of cities within each cluster and applying the ratio of this top decile average to the overall average RVD within the entire cluster, over the same period. Because we believe that the top decile of cities within a given cluster represents the potential utilization that could be reached as our market share grows within a city, this ratio estimates the progression of monetization within each city that we believe is achievable as we scale. We multiply this ratio for each city within the category to determine that city's maximum RVD.

***Our Opportunity Over the Long Term***

To arrive at our TAM from our SAM, we expand the aperture of cities to include those we have identified as expansion opportunities within the next five years. At an adoption rate of 30% of people in our addressable population within this expanded set of cities, our market opportunity would be $22.0 billion. If we further assume full adoption by people in our addressable population within each city, we estimate our TAM to be approximately $69.1 billion.

In each adoption rate scenario, we multiply the broader number of potential riders by the appropriate fleet-to-MAU ratios expected to be required to service that number of riders as per our SAM calculation. For new cities, we apply the relevant market category's average fleet-to-MAU ratio to estimate the fleet potential of each new city. This total fleet potential is then multiplied by the estimated maximum potential net RVD for those cities as estimated in our SAM calculation, and then summed to estimate our total global TAM.

**Lime's Vertically Integrated Platform**

Lime's platform combines proprietary hardware and software, data, tech-enabled operations, and government relations expertise. We specifically design each component of our platform to meet the needs of both our riders, who expect an easy, reliable, and convenient experience, and the cities that regulate market entry and expansion. Our platform allows us to control key aspects of our service that shape rider experience and drive operational efficiency and regulatory compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Proprietary Hardware</u>: At the core of our platform is our electric vehicle fleet, which includes proprietary e-scooters, e-bikes, and seated e-scooters, all available through our proprietary Rider App, enabling a free-floating model that offers flexible mobility options for riders and cities. We design and engineer our vehicles in-house to elevate the rider experience, support city compliance, enhance safety, and reduce our lifetime cost of ownership. For example, we have introduced innovations to elevate the rider experience, including lower scooter deck heights for improved stability, ergonomic swept handlebars for confident handling, carefully tuned acceleration for smooth starts, and a triple-braking system for safe, controlled stops. We have also strategically customized and redesigned components of our fleet for durability and maintainability, reducing breakage rates for high-wear parts and overall repair times, and in turn lowering our total cost of owning and operating our fleet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software</u>: Our proprietary technology stack consists of three interconnected systems: the Rider App, the Lime Supply App, and an IoT-enabled hardware system that connects our fleet to both the Rider App and the Lime Supply App to track in-field vehicle health and telemetry. The Rider App facilitates the trip experience for riders — from locating and reserving vehicles to payment processing — which maintained exceptional user satisfaction evidenced by a 4.9 out of 5.0 rating on the iOS App Store across approximately 2.2 million reviews as of April 1, 2026. Lime's operations workforce uses the Lime Supply App, a separate operations-facing app, to manage and maintain our fleet. Within this software, predictive analytics prioritize vehicles tasks that we believe will drive the most value, such as repositioning vehicles from one location to another, charging, or maintenance while using machine learning forecasts demand patterns to help

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optimize fleet placement, designed to increase vehicle availability to maximize trip conversion rates. Our IoT system continuously monitors vehicle locations around the world, vehicle health, and operational metrics through embedded sensors. This IoT system processes real-time telemetry into structured datasets, enabling proactive maintenance and data-driven improvements across our hardware and software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Data</u>: Data acquisition and analysis is a key pillar of our platform. We use data from our Rider App along with vehicle telemetry data to support vehicle demand forecasting and optimize hardware designs. We augment these proprietary data sources with supplementary datasets from weather services, city partners, and other external providers to generate a more holistic picture of local mobility.

Data is also a strategic asset for our operations workforce enabling us to optimize efficiency and responsiveness. For example, we use explicit and inferred signals from our fleet to understand when a vehicle will require maintenance and to proactively schedule those maintenance tasks, which in turn enable us to significantly increase the number of vehicles available on the street. Our vehicle deployment and positioning algorithms run on machine learning that ingests data from past rides, real time event information, weather, and a host of other factors to inform the deployment of our fleet based on where and when we expect riders will need it. We also use data to create operational tasks dynamically, identifying the cost of an operational task and the downstream revenue that we expect that task could generate. This enables us to prioritize the tasks that we believe will have the highest return on investment and make optimal use of our operations workforce. In addition, some cities have begun to include data sharing from operators, in accordance with applicable laws and policies, as an operational requirement under the permit, which we believe indicates that cities are beginning to recognize the value of the data that we provide to cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tech-Enabled Operations</u>: Our global operations are supported by employees, logistics providers, and contingent workers, all of whom leverage technology and data to drive efficiency and enhance the rider experience. Maintenance, deployment, charging, repositioning, and retrieval of our fleet are carried out through these combined resources. Operational activities are coordinated by the Lime Supply App, which applies data and algorithms to generate and prioritize tasks that we believe optimizes for return on investment, delivering the highest quality trip at the lowest possible cost while furthering compliance with city requirements. Data-driven task allocation, automation, and predictive analytics are embedded into workflows, reinforcing a continuous feedback loop for in-field executions informing ongoing improvements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Government Relations Expertise</u>: Our dedicated government relations and local customer service teams collaborate closely with cities, combining our operational expertise with deep local knowledge and in-depth discussions with key city officials to secure permits and deliver actionable insights informed by our extensive anonymized dataset. We believe our understanding of and ability to address the unique needs of each city has been instrumental to obtaining and retain permits. This local expertise, combined with bespoke operational capabilities, enables us to provide cities with a tailored shared micromobility program that advances their local policy priorities while also addressing rider needs. We share valuable data to help cities understand the impact of shared micromobility, including insights like high-density micromobility parking locations to guide infrastructure investment and anonymized rider data to inform bike lane planning. We believe this collaborative approach has positioned Lime to become a trusted partner for shared micromobility, fueling our strong competitive bid performance and enabling us to influence the future of shared micromobility policy.

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**Providing an Exceptional Rider Experience**

We offer our riders exceptional value by delivering a reliable, easy, and convenient experience. Our commitment to improving short-distance travel and expanding availability helped foster a broad base of loyal riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reliability</u>: We are focused on providing a reliable and convenient transportation solution for our riders, with dependable access to well-maintained vehicles. We strategically deploy and reposition our extensive fleet throughout cities using historical, predictive and real-time demand data, optimizing vehicle distribution for riders' convenience and availability. The scale of our fleet, supported by our tech-enabled operations that provide rigorous maintenance, optimized charging, and efficient repositioning, helps keep our vehicles durable and trip-ready for our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Ease of Use</u>: We are focused on providing a fast and intuitive journey, from vehicle location to trip completion, for our riders. Our free-floating model enables riders to bypass many of the constraints associated with docked systems, which restrict trips to fixed stations that may not be conveniently located due to limited density or capacity. In contrast, our fleet is both flexible and scalable, while still accommodating cities that may mandate parking in designated areas. Whereas the installation of docked stations can take months, we can deploy virtual parking areas within minutes, preserving the flexibility and ease-of-use that we believe are essential for driving rider adoption. Riders can start a trip in seconds by scanning a QR code on nearby vehicles through the Rider App or Uber app on their phones. To end a trip, riders simply park, press the "End Trip" button in the Rider App, take a photo of the parked vehicle, and payment is processed automatically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Comfort</u>: Our vehicle design prioritizes rider comfort. Our latest models feature tuned acceleration curves designed to keep rides smooth for enhanced balance and reduced strain, ergonomic handlebars designed to reduce fatigue especially for longer rides, and well-designed, intuitive controls. Our latest e-scooters come with a wide, textured platform to allow side-by-side or staggered foot positioning depending on rider preference and our e-bikes have adjustable seats and large front baskets for stowing cargo. We have also launched seated e-scooters and throttle-equipped e-bikes to make it easier for people of different abilities to ride Lime.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Trust</u>: Riders trust Lime as a safe and dependable choice for daily travel. Our customer service team is dedicated to fostering this trust by enhancing rider satisfaction and retention. We also prioritize safety in vehicle design, while our Rider App helps bolster rider confidence through riding tutorials and city-specific regulations or safety guidelines. By focusing on these elements, we help our riders feel secure and valued, further solidifying Lime's role as a reliable partner in their journeys.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Fun</u>: Lime offers riders a joyful way to explore neighborhoods and cities. Our riders cite Lime for its fun and memorable experience. Our strong brand awareness and social media presence — particularly social media posts by public figures or celebrities — further broaden our appeal to riders. Our Group Ride feature which allows a single rider to unlock multiple vehicles serves as a low-barrier way for our enthusiastic riders to share this joy with their friends in a welcoming social setting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Affordability</u>: We are focused on providing good value to our riders through various pricing plans that specifically fit riders' travel needs, be it daily commutes or exploring new cities on vacation. People seek out shared micromobility solutions as they can cost significantly less than short car trips. We also offer LimePass, which consists of prepaid minute bundles and a subscription option ("LimePrime"), designed to deliver optimal value for various rider use cases.

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**Lime's Value Proposition to Cities**

We believe that our success is intrinsically linked to the success of the cities we serve. We strive to be a trusted partner, providing solutions that seek to address the core priorities of our city partners, including reducing congestion, expanding affordable transit access, and lowering emissions. Through collaboration with cities, we tailor our platform to complement public infrastructure, including filling transit gaps and supporting local climate action plans. This partnership model is designed to enable shared micromobility to deliver measurable results for cities, such as fewer cars on roads, cleaner air, and more robust transportation networks that serve evolving community needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expanded Transportation Access and Efficiency</u>: Public transit systems are restricted by their physical infrastructure and typically limited to high frequency locations. We are focused on expanding access to transportation by providing first- and last-mile connectivity and filling gaps where city services may not exist or operate with limited availability during off-peak hours. Additionally, during special events with high traveler demand or during service disruptions, we can adjust the deployment of our fleet to address changing transportation needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Multimodal Fleet Reaching More Riders</u>: We provide cities with a 'one-stop shop' fleet of electric vehicles that can address a variety of urban transportation challenges. For example, e-scooters are often ideal for quick trips, whereas e-bikes with baskets are comfortable for longer journeys or running errands. Across many use cases, our vehicles are designed with the rider in mind. For example, we have designed bikes with smaller frames and lower step-throughs to be more comfortable for our female riders and we have added optional thumb throttles to our e-bikes to expand availability, particularly for older riders who may find pedaling a challenge. This menu of multimodal fleet enables cities to provide tailored transportation systems that meet the needs of their residents.

Cities are increasingly seeking operators that can provide a comprehensive service, with the number of our multimodal requests for proposal ("RFPs") — encompassing e-scooters, e-bikes, and other shared vehicles — growing by 278% since 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reduced Congestion</u>: Our shared micromobility fleet enables cities to ease the strain on overburdened city roads, from daily rush hours to major events like concerts and sporting events. Our fleet can alleviate car-dominated gridlock, free up street space typically lost to car parking, and act as a pressure relief valve for public transportation systems. After Paris introduced a bike sharing system and other traffic reducing techniques in the 2000s, car traffic decreased by 20% within a couple of years, reflecting the impact of shared micromobility on congestion according to the World Wide Fund for Nature. By analyzing traffic patterns and event schedules, for example, we can forecast demand spikes and pre-position our fleet when and where we believe vehicles will be most needed to help facilitate seamless mobility and reduce reliance on personal vehicles or rideshare.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Progress Towards Sustainability Goals</u>: Transportation accounted for approximately 30% of global greenhouse gas emissions in the United States and Europe in 2022 according to the Inventory of U.S. Greenhouse Gas Emissions and Sinks 1990–2022 and the European Environment Agency, respectively, with private cars being the top contributor. Lime's shared micromobility vehicles offer a sustainable alternative, producing zero tailpipe emissions compared to about 400g of carbon dioxide per mile for the average car according to the Environmental Protection Agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Compliant and Well-Organized Operations</u>: Permits are almost always required for us to operate in a city and typically contain a number of regulatory and operational requirements, including fleet size, deployment areas, parking restrictions, and operational metrics, which often must be reported on a monthly basis. We design our hardware, location accuracy technology, and operational strategy to comply with local city requirements. For example, our advanced

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geofencing technology and real-time monitoring systems are designed to promote the operation of our vehicles within designated areas, minimizing disruptions in the public way and preserving public safety. We have local customer service teams with a dedicated email alias that can quickly address questions or concerns from city officials and, for more urgent matters, provide direct access to a local experienced operations manager. Our sustained presence is reflected in the trust we've earned with cities we serve, as demonstrated by the fact that 94% of our revenue from 2025 was generated from cities where we have operated for four years or more.

**Lime's Competitive Advantages**

The combination of our vertically integrated platform, scale, market leadership, brand awareness, efficient operating model, and network partnerships all work together to create competitive advantages for our business. Together, they have contributed to our position as a leader in the shared micromobility industry and positioned us for growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Vertically Integrated Platform</u>: Lime's platform is designed to optimize the rider experience. Our platform seamlessly integrates government relations expertise that helps win us the right to serve a city with hardware, software, and data that drive topline growth and margin through an understanding of rider preferences and optimized vehicle availability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The result is a virtuous cycle where each component enhances the whole, creating operational advantages that strengthen progressively with scale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Proprietary Hardware**: We design and engineer our hardware in-house to optimize rider appeal while reducing the total cost of ownership of our fleet. With each generation of our electric vehicles, we seek to improve durability, repairability, and cost-efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Software**: Our proprietary technology stack enables us to optimize the rider experience and our in-field operations. Our rider-facing software, the Rider App, is designed to make riding our e-scooters and e-bikes seamless — riders can conveniently locate vehicles and pay for trips, supporting new rider adoption through easy onboarding and encouraging repeat use. Our operations-facing software, the Lime Supply App, coordinates our operations workforce and is designed to optimize their tasks to improve margin, lower maintenance costs, and increase vehicle quality and reliability for riders, which in turn contributes to more rider adoption and usage. Our IoT-enabled hardware system links our in-field vehicles to our operations software and serves two functions — empowering riders with low-latency remote control of our vehicles from their phone to lock, unlock, and pause rides, and enhancing our operations by transmitting real-time vehicle telemetry and diagnostic data that enable us to continuously monitor vehicle health, detect issues, and track assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Data**: Lime's extensive anonymized dataset offers key insights into rider behavior, vehicle performance, and city dynamics. This data drives our proprietary operations software, optimizing our fleet deployment and informing hardware design. This data also supports our regulatory compliance program by enabling adaptive software controls for responsible operation. For example, we use historical data of any missed demand and fulfilled demand in a given city or use data to automate relocation tasks for overcrowded parked fleet to more effectively guide the positioning of our vehicles. As a consequence of improved positioning, we enable more rides to take place and use data to advocate for greater parking allowances in high-demand areas, reinforcing a positive feedback loop where we benefit from even more interactions that we can measure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Tech-Enabled Operations**: Lime's operations combine data-driven coordination with localized execution. Maintenance activities performed in warehouse settings support consistent vehicle quality, directly contributing to reliability and regulatory compliance. In-field resources perform deployment, retrieval, repositioning, and basic repairs, enabling rapid response to shifting demand patterns and environmental conditions. Operational activities are

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coordinated through the Lime Supply App, which uses data and analytics to generate tasks that we believe improve fleet availability, service quality, and compliance with city requirements. By combining data-driven task generation with local knowledge, we aim to deliver reliable, efficient, and compliant service at scale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ **Government Relations Expertise**: We have extensive policy understanding and government relations experience, which we have gained from operating across approximately 230 cities around the globe in 2025. This creates a distinct advantage for our business, enabling us to better understand city-specific needs and engage city officials effectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Scale and Market Leadership</u>: Lime's scale provides numerous benefits. Riders tend to gravitate to micromobility operators with the most city-wide vehicle availability, enabling Lime to become a preferred choice for shared micromobility in numerous cities where we operate. In turn, in connection with the permit bidding process, cities tend award permits to operators that have demonstrated high ridership, global scale, and operational and local policy expertise. Our extensive fleet in cities create high task density — which is the number of maintenance, charging, repositioning tasks available within a city — enabling our operations teams to complete more tasks per route, lowering the cost per task, increasing time efficiency, and improving unit economics. On average, from 2023 to 2025, we completed more than 25 million operational tasks per year, the scale of which has been a key driver in improving our margins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Brand Awareness</u>: Scale expands our visibility and availability, which has supported our brand awareness with the public, positioning Lime as a go-to-choice for shared micromobility while reducing the amount spent on customer acquisition costs. Our branded vehicles serve as mobile advertisements, giving us constant street-level visibility that helps reinforce this brand recognition and drive more adoption. In 2025, we spent approximately 2% of our revenue on marketing expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Efficient Operating Model</u>: Lime's scale also enables a highly-efficient operating model, which optimizes resource allocation and reduces the cost to serve our riders. Our model also allows us to adjust operational costs to match rider demand, reducing fixed costs and allowing us to adapt to changing market conditions, including seasons. Our technology allows prioritization of tasks with the greatest return on investment and vehicle positioning to increase rider convenience, while scale brings density that reduces the cost of in-field operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Network Partnerships</u>: We benefit from a mutually exclusive partnership with Uber that allows Lime vehicles to be featured as a ride option within the Uber app in nearly all of our shared markets, providing us with direct access to Uber's global user base. This integration acts as a highly efficient rider acquisition channel. By leveraging Uber's existing infrastructure and rider network, we tap into an existing rider base that drives awareness without additional marketing costs. In many cities, Lime vehicle availability is integrated directly into Google Maps in certain cities through our partnership with Google, which enables consumers to discover Lime when getting directions.

**Lime's Platform Creates And Supports a Durable Network Effect**

Our platform fuels network effects that drive growth and efficiency. As we increase the number of vehicles in a city, the volume of trip and telemetry data we capture also increases, which in turn enables our platform to become more intelligent with respect to missed and fulfilled demand patterns, rider routes, vehicle operations and maintenance requirements, and more. This data enables better forecasting of demand location and timing. We then strategically deploy vehicles to these high-demand areas at optimal times to improve vehicle availability and utilization. Combining fleet expansion with data-driven placement further increases vehicle utilization, driving better unit economics. This generates the capital we need to further invest in fleet expansion and research and development, as well as the performance data cities rely on to approve larger fleet caps and launch new programs. The outputs of these network effects are

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sustained growth, increased scale, and highly differentiated unit economics that provide a significant competitive advantage across cities.

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We believe that shared micromobility is fundamentally a "winner-takes-most" industry. Much like for food delivery or ride-sharing industries, network effects amplify success in the shared micromobility industry. Just as diners prefer platforms with the most restaurant options and riders choose services with the most drivers, users tend to gravitate toward micromobility operators offering the largest, most available fleet of e-scooters and e-bikes in a city. This creates a powerful self-reinforcing cycle: a more available fleet increases density, leading to high volume of trip and telemetry data, which allows us to deliver a more reliable service. This ultimately drives utilization and attracts more riders, making the service even more valuable and appealing. Operators with an extensive fleet and robust operational networks tend to hold an important place in the market.

**Growth Strategies**

We believe Lime has significant room to grow our share and expand the shared micromobility market. We are focused on growing our presence in the cities we currently serve, as well as expanding to new cities. We intend to continue to innovate, launching new products and services within shared micromobility, expand our commercial partnerships, and increase rider adoption and vehicle utilization, each of which we expect will strengthen our position as a leading shared micromobility partner for cities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Deepen Presence in Existing Cities</u>: We aim to grow the size of our existing fleet, which already operates in approximately 230 cities, by leveraging our existing infrastructure to enhance our vehicle reliability and availability in a cost-efficient way. Higher vehicle density promotes rider confidence in their ability to conveniently access e-scooters or e-bikes when needed while concurrently improving our unit economics. Our strong partnership and long-standing operating track record with cities enable us to grow our fleet caps under city permits, as demonstrated by our 116% operational fleet retention rate in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Reach New Cities and Countries</u>: We entered into 19 new cities in 2025 and intend to pursue opportunities to launch our fleet in more cities, with a focus on metropolitan areas we believe will have a high return on investment. Many cities around the world still lack shared micromobility as a transportation option, and several secular trends support our expectation for continued adoption. As we enter new cities, our partnership with Uber enables us to immediately leverage their user base in such cities, and we plan to seek other partnership opportunities to continue scaling efficiently. We also benefit from a strong local reputation, as cities regularly share insights and best practices with one another, driving momentum and credibility that open doors to neighboring cities. Expanding into neighboring cities to those in which we operate enables us to

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leverage a fixed cost center in the centralized location of an existing city to service multiple smaller adjacent cities, which also drives improvements to our operating margins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Increase Engagement of Existing Riders</u>: We believe that one of our greatest opportunities is increasing engagement and securing additional trips from our existing riders. In the past, we have increased engagement by introducing prepaid bundles and subscription programs like LimePass and LimePrime, respectively, to cater to riders who could more frequently use Lime vehicles. These programs are designed to incentivize our riders to take more trips and convert casual riders into routine riders. As we continue to refine our insights into rider behavior and preferences, we aim to further tailor our services to better serve our existing riders and drive increased usage. Building on the success of LimePass and LimePrime, we plan to pilot other pricing plans designed to enhance our service offerings, capture a wider range of use cases, and more effectively address the evolving needs of our riders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Launch New and Improved Products and Services</u>: Innovation is at the core of how Lime operates, and we have a dedicated research and development team that iterates on vehicle design and features to continuously improve our existing fleet. This team also evaluates new modes of transportation for future launch. With each new generation of vehicles, we have enhanced our modular design to unlock additional use cases. For example, by adding cargo space to e-scooters and e-bikes, riders can now use Lime to run additional errands like grocery shopping and otherwise transporting small items. In 2024, we piloted LimeGlider for riders who may prefer the comfort of a seated vehicle combined with the effortlessness of an e-scooter. Our research and development team is continuing to pilot new vehicles and features to support new use cases like tandem riding and longer-distance travel, which we believe will drive more rider adoption and increase engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Expand Partnerships</u>: We continue to evaluate strategic commercial partnerships to expand our market reach and broaden our rider base. As part of this initiative, we are piloting programs to support corporate campuses and exploring potential programs with higher education campuses. In addition, we are exploring potential partnerships with food delivery services to offer tailored access to our fleet through daily or weekly passes for couriers. In parallel, we will continue to collaborate with cities to maintain public-private partnerships, further fostering adoption of shared micromobility in new cities and countries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Strategic Acquisitions</u>: We employ a disciplined approach to potential acquisitions, carefully evaluating opportunities that could strengthen our platform, increase the diversity of our vehicle platforms, and extend Lime's reach into new cities. Past acquisitions have expanded our scale, driven innovation, and increased our market presence. For example, our acquisition of Jump in 2020 enabled us to re-enter the e-bike market with a superior vehicle. We will continue to explore potential target companies that can either reinforce our core operational capabilities or open new avenues that accelerate the adoption of shared micromobility. These may involve technological enhancements, local or regional expertise, or strong government relations to solidify or advance our presence in key cities or regions.

**Riders**

Since our inception, Lime has facilitated more than 1 billion trips for more than 105 million riders. We serve a diverse and growing rider base that relies on Lime for their mobility needs.

In most cities, our vehicles are available to anyone aged 18 and above, with the majority of riders between the ages of 18 and 45. Our riders typically fall into one of two groups:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Routine</u>: We serve routine riders who integrate our vehicles into their lives. A routine rider spends at least $50 annually on Lime trips, though many spend much more per year. Lime often becomes an integral part of their urban travel routines, providing seamless connectivity within a city. Typically, routine riders use our vehicles for short distance trips (under five miles), including

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for commuting to work or school and local travel for errands, pharmacy visits or personal appointments and as a first- and last-mile complement to public transportation. We offer a convenient and flexible transportation solution to enhance mobility within city neighborhoods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Casual</u>: We also serve casual riders who may choose Lime for an engaging and interactive way to explore and enjoy a city. Visiting tourists might use our vehicles to travel between various attractions while local residents might use them to get to special events, such as concerts, festivals, or sporting events. Although casual riders typically spend less than $50 annually on Lime trips, they frequently become integral to our rider base. For example, based on internal estimates, as of December 2025, over 15% of our routine riders initially experienced Lime as a casual rider during their travels and later incorporated it into their routines back home. This dynamic not only broadens our reach but also cultivates a diverse and vibrant rider community.

Our platform offers riders with a broad set of use cases beyond traditional commuting and tourism, including local commerce, errands, date nights, and attending events, which drives adoption among both casual and routine riders. When cities expect demand spikes to existing transportation infrastructure, we collaborate with cities to quickly help scale their infrastructure and expand our fleet capacity. For instance, in anticipation of heightened demand during the 2024 Olympic Games in Paris, we strategically increased our e-bike fleet in the city by 50%, temporarily bringing our total available e-bikes to roughly 15,000. This expansion helped meet the mobility needs for both attendees and residents alike, highlighting the flexibility of our operating model and our ability to integrate seamlessly into urban life. By adapting to the evolving needs of our riders, we seek to transform transportation into an enjoyable part of their day.

**Cities**

While shared micromobility is naturally suited for dense megacities, Lime has demonstrated success across cities of all sizes. As of December 31, 2025, we operated in approximately 230 cities across 29 countries, from compact regional towns to sprawling global capitals. Our unit economics succeed in a range of city sizes through strategies that tailor pricing, fleet placement, and rider incentives to the specific transportation needs of each city.

Our approach adapts to core rider motivations — compare the Gold Coast, a destination where tourism drives demand, to Milan, a regional hub where routine riders dominate usage. In cities like the Gold Coast, we concentrate our vehicles near landmarks, offering premium convenience and new rider oriented, pay-as-you-go discovery pricing that appeals to visitors exploring the city. This contrasts sharply with Milan, where we optimize for daily utility — through overnight repositioning, we strive to position our vehicles within a 5-minute walk of certain transit hubs by 7 a.m. on work days, and offer LimePass, a prepaid minute bundle program, for predictable and affordable workweek travel.

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We categorize our cities into four city archetypes — Megacities, Tourist Destinations, Regional Hubs, and Satellite Markets — based on two primary metrics: annual spend on tourism, which we use as an indication for visitor demand, and local addressable population size, which we define as people between ages of 18 and 45 with incomes above $55,000 per year, which we use as an indication for rider engagement potential.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Megacities</u>: Megacities are both economic hubs and tourist destinations with large local populations. They have an addressable local population above 500,000 people and have over $5 billion in annual tourism spend. Megacities include global capitals and economic centers such as London, Seattle, Tokyo, Paris, Washington D.C., Chicago, Sydney, and Berlin. These cities typically have mature public transit systems and exhibit high demand for short-distance transportation. As of December 31, 2025, we operated in 39 Megacities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Tourist Destinations</u>: Tourist Destinations have addressable local populations below 500,000 people and have over $5 billion in annual tourism spend. These cities are smaller than Megacities but have a high volume of tourist activity, such as Auckland, the Gold Coast, and St. Petersburg, Florida. For Tourist Destinations, we optimize vehicle deployment near landmarks, hotels, and popular restaurants. As of December 31, 2025, we operated in 20 Tourist Destinations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Regional Hubs</u>: Regional Hubs are cities with addressable local populations over 500,000 people and have less than $5 billion in annual tourism spend. These cities have an attractive local population and a relatively low tourist presence. For Regional Hubs, our deployment strategy focuses on connecting residential areas with key city locations, enabling residents to commute to and from and travel within the city. Examples of Regional Hubs include Detroit, Milan, Munich, and Vienna. As of December 31, 2025, we operated in 19 Regional Hubs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Satellite Markets</u>: Satellite Markets are cities with addressable local populations under 500,000 people and have less than $5 billion in annual tourism spend. Often regional economic centers or university towns, these cities exhibit strong shared micromobility demand within compact areas. Despite their smaller size, Satellite Markets are typically near one another and benefit from operational efficiencies by leveraging resources and fleet management from more centrally located cities. Examples of Satellite Markets include Milton Keynes, operated out of our London hub, and Verona, operated out of our Milan hub. As of December 31, 2025, we operated in 151 Satellite Markets.

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**Our Suite of Vehicles**

Lime develops and contract-manufactures a range of electric vehicles designed for shared urban transportation. We take a holistic approach to research and development, optimizing for quality, cost, and efficiency. We leverage data collected from hundreds of thousands of active vehicles in the field, hundreds of millions of rides, and our operations in approximately 230 cities worldwide to engineer vehicles that are designed to provide exceptional rider experiences, drive operational efficiency, and maximize our return on investment.

These design principles enable us to attract and retain riders, deliver high fleet availability, and reduce our total cost of ownership.

**Available and Convenient Vehicles for all Riders**

Lime aims to deliver convenient, reliable, and comfortable rides for as many different riders and use cases as possible. We start by offering the right vehicle for the right trip. Our e-scooters offer riders a fast and agile option for short trips in dense urban centers, while our e-bikes are comfortable and convenient for longer distances across varied terrain. On average for 2025, trips taken on our Gen4 e-bikes were 40% longer than our trips taken on our Gen4 e-scooters.

Our current fleet largely consists of our Gen4 vehicles, which launched in 2021 for e-scooters, 2022 for e-bikes, and 2024 for seated e-scooters. As of December 31, 2025, more than 705 million rides have been taken on Gen4 vehicles, and Gen4 e-scooters comprise the majority of our fleet globally while our Gen4 e-bikes have helped revolutionized urban travel in some of our largest markets like London and Paris.

All our vehicles are designed for safety and connectivity. Each vehicle has a high-visibility paint scheme, reflective surfaces, a redundant braking system, and auto-diagnostics based on dozens of data points collected by IoT-enabled, vehicle-mounted sensors. "Smart" features on our vehicles can include an integrated GPS and central control unit, a large display showing speed and state of charge, and a communications module that connects the vehicle to the backend platform.

***Gen4 E-Scooter***

<u>Base Model</u>

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| Lime deploys our award-winning Gen4 e-scooters every day in cities around the world, and as of October 2025, these e-scooters have been taken on more than 400 million rides. Designed for comfort and stability, the Gen4 e-scooter features a wide, textured footboard that allows riders to position their feet side-by-side or staggered, swept handlebars for a more natural riding position, and intuitive bike-style hand brakes with anti-slip grips. A large front wheel, fully pneumatic tires, and a dual-spring front suspension enable smooth handling on varied terrain, while a low center of gravity promotes rider stability. The e-scooter also comes equipped with a phone holder so riders can use navigation apps hands-free.  | ![business3aa.jpg](business3aa.jpg) |

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<u>Seated Model</u>

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| The Gen4 seated e-scooter has the same features as the base model, but comes with a padded seat and rear storage compartment. The seated e-scooter enables us to address previously unreached rider demographics by appealing to older or less confident riders who may seek a more comfortable and intuitive riding experience, and helps Lime unlock and expand into new cities that may desire certain vehicles. For example, interest in the seated e-scooters helped enable Lime's launch in Japan in 2024. Standard Gen4 e-scooters can be easily converted to a seated model in-warehouse with an inexpensive retrofit kit. | ![business4aa.jpg](business4aa.jpg) |

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***Gen4 E-Bike***

<u>Base Model</u>

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| Suitable to accommodate a wide range of heights of riders, the Gen4 e-bike features a low step-through frame, comfortable Dutch-style handlebars, an adjustable seat, and fully pneumatic tires on spoked wheels for stability and comfort on varied terrain. It also comes equipped with a large front basket to stow cargo and a phone holder so riders can use their phone for hands-free navigation. | ![business5aa.jpg](business5aa.jpg) |

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**Driving Operational Efficiency through Vehicle Design**

We believe that operational efficiency starts with research and development. Lime's holistic approach to vehicle design considers not only how to develop high-quality vehicles, but how to facilitate efficient operation of those vehicles in the real world.

***Swappable Battery Technology***

We introduced swappable batteries in our vehicles in 2020, reducing maintenance trips needed to maintain vehicles that previously needed to be brought to a warehouse for battery recharging. For example, we were able to cut such miles traveled per maintenance trip in Paris by 87% from 2019 to 2025. Since then, we have continued to improve our swappable battery technology, which has been a key driver of operational efficiency, leading to the development of our latest high-capacity, interchangeable, and durable B40 series batteries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>High-Capacity</u>: The B40 series batteries doubled the range the vehicles can travel on a single charge, cutting downtime by 19% and delivering 119% more utilization from an average of 16 km travelled per battery swap to 35 km travelled per battery swap in 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Interchangeable</u>: The B40 series batteries are interchangeable across all Lime vehicle types, simplifying battery swapping and eliminating the inefficiency of operating multiple battery types and charging equipment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software-Enabled Efficiency</u>: The B40 series batteries have sophisticated embedded software which regulates charging/discharging, monitors the battery's state of charge, and balances battery cells.

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***Modular Design***

Our vehicles share a common, modular design designed to maximize parts commonality across models while still enabling targeted customization that may be required for certain cities or regions. Gen4 e-scooters and e-bikes share standardized, interchangeable components, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Energy systems: Battery packs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Control units: Central control unit, certain unified wiring harnesses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Safety components: ISO-certified reflectors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• User interfaces: Full-color displays, adaptive lighting arrays

This modular design philosophy delivers synergistic benefits. Shared components across models generate economies of scale, lowering ownership costs while reducing inventory complexity through unified parts management. Standardized designs allow technicians to master one repair procedure applicable to multiple vehicle types, simplifying training and accelerating service turnaround. Strategically positioned high-wear components further streamline maintenance by optimizing access paths — preserving structural integrity while minimizing downtime during repairs, intended to help our fleet sustain peak operational readiness.

Cross-platform engineering principles further enhance lifecycle management. Iterative refinements to modular designs are guided by real-world performance data, and improvements are designed to preserve compatibility between hardware generations. This approach delivers scalable, sustainable fleet operations through service-optimized innovation.

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**Maximizing our Vehicle Investments**

Protecting our vehicles against excessive wear, theft, and vandalism is foundational to extending their useful life and driving strong returns on our capital investments. The benefits of our ongoing investments in durability and security are clear: In 2023, 2024, and 2025, our e-scooters and e-bikes averaged an ROI Payback Period of under one year, enabling us to continue to invest in growth — a milestone achieved in significant part through these targeted investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Durable Construction</u>: Our vehicles must be able to withstand the elements and the rigors of shared use to deliver a return on investment. Stress-tested in our CNAS/IEC 17025-certified lab, we design our vehicles and their parts and materials to meet a high standard of durability.

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Prioritizing strength and reliability has resulted in our mean trips between failure rate increasing by 123% from 2019 to 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Robust Anti-Theft and Vandalism Measures</u>: Vandalized or stolen vehicles increase operating costs and reduce fleet availability. In addition to tracking vehicles 24/7 with the GPS module embedded in the vehicle, Lime also aims to protect vehicles with intentional design choices such as enclosing critical components within the frame (such as brakes, wiring, central control unit), using anti-tamper security screws and seals, and designing purpose-built locks for vehicle wheels and batteries. These safety features also make the vehicles less attractive to potential unauthorized purchasers of stolen vehicles.

We also take a continuous improvement approach to both vehicle design and our operations to extend the useful life and performance of our fleet. This commitment is supported by a dedicated fleet engineering team that systematically enhances vehicle designs based on real-world operational data and rider feedback.

**Our Software Experience**

Software powers Lime's business model. Our proprietary software includes the rider-facing Rider App, our operations-facing Lime Supply App, and our IoT-enabled hardware system for vehicle intelligence, each interconnected through our communications infrastructure to our backend software systems. Combined, this platform enables riders to easily locate and access vehicles and enables our local operations teams to manage our fleet efficiently.

***Rider App***

The lightweight and intuitive Rider App makes it easy for riders to find a vehicle, reserve it, and start and end a ride. Our goal is to give riders a low-latency experience to help them quickly access our fleet as well as provide helpful information during key moments while on a trip, such as when parking.

<u>Getting Started</u>

Riders can quickly register for a new account, using either their preferred Single Sign On provider, their phone number, or their email. Riders can also access Lime through their existing accounts with one of our partners like Uber. Payment options are similarly flexible — riders register a credit or debit card,

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use a contactless payment service like Apple Pay, connect to an online payment system like PayPal, or use specialized local payment providers.

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*Sign up and Payment*

<u>New Rider Orientation</u>

Before their first ride, new riders receive a vehicle-specific tutorial that familiarizes them with how the vehicle works, encourages safe riding behavior, and highlights certain city rules.

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*Tutorial for starting an e-scooter ride*

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<u>Locating a Vehicle</u>

Using the Rider App, riders navigate a simple map interface to locate a vehicle. Tapping a vehicle's icon shows its range, cost to ride, identification number, estimated distance in walking time, and provides an option to reserve the vehicle for a short period. Riders can then walk to the vehicle and scan its QR code to wirelessly unlock it and start a ride. Payment confirmation is required before the ride begins. If riders have trouble finding their vehicle, the vehicle's "ring" function can trigger an audible alert. If friends are traveling together but only one person has the Rider App, this 'host' can unlock up to five vehicles at once and manage the rider permissions for their 'guests' using the Group Ride feature.

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*Ability to locate and reserve a vehicle*

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<u>During the Ride</u>

While on a trip, the Rider App displays relevant information to the rider, including parking locations, low speed zones, and no-go zones. In addition, riders see a trip timer and an option to end or pause the trip. Riders can pause a ride at any time for up to 15 minutes per pause.

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*App interface during the ride&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Example alert from compliance software*

<u>Ending the Ride</u>

Different cities, and sometimes even different neighborhoods within a single city, have their own parking rules. Most often, cities will require riders to park non-obstructively on the street or sidewalk or in a dedicated parking area only. When ending a trip, riders receive in-app guidance about local parking requirements and must submit a photo of their parked vehicle, which is analyzed by AI-enhanced algorithms to assess compliance. The Rider App is designed to verify compliance using both the photo and the vehicle's GPS location. If a problem is detected, riders may get feedback to correct their parking through the Rider App.

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Once the trip has ended, the vehicle locks automatically. Riders then receive a trip receipt and can rate their experience. A low rating triggers an optional feedback form to report specific issues or open a customer service ticket.

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*Ending a ride with parking check and ride review*

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<u>User Profile</u>

Riders have access to their Lime "wallet" (showing their active passes and payment options) and ride history (with receipts) in their User Panel. They can also learn more about safety information in the Safety Center, and create a ticket for customer service in the Help Center.

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*Wallet and ride history*

***Lime Supply App***

The Lime Supply App serves as a dedicated tool for in-warehouse and in-field workflows. The app identifies and prioritizes tasks and generates data that is fed back into the platform for ongoing optimization. By streamlining task creations and embedding quality control steps, the Lime Supply App is designed to drive operational efficiency and maximize vehicle availability.

Operational activities supported through the app include battery swaps, vehicle deployment and retrieval, repositioning, in-field repairs, diagnostics, and warehouse-based maintenance. The Lime Supply App uses machine learning to optimize the creation and sequencing of these tasks to deliver strong return on investment. For example, our algorithms determine the optimal state of charge at which to swap a battery by incorporating future forecast demands, weather signals, and historical usage patterns. This allows us to optimize charging costs by reducing unnecessary charge expenses and helps us avoid missing rider demand by ensuring the battery is fully charged.

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Field and warehouse execution is carried out by employees, logistics providers, and contingent workers, who complete tasks through in-app workflows. Task metadata — such as completion rate and time to complete — is fed back into the platform to further refine performance.

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*Task view*

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*Task workflow and reporting*

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***Lime IoT System***

Delivering reliable rider experiences and efficient operations require Lime's vehicles to be network connected to our software backend. Every vehicle is equipped with an IoT-enabled hardware system consisting of an onboard computer, a GPS module, and mobile connectivity which provide precise vehicle geolocation and enforce parking and riding rules.

<u>Precise Vehicle Geolocation</u>

Real-time location data of our vehicles is critical to both the rider experience and fleet efficiency. Every Lime vehicle has an embedded GPS module, and we seek to continually improve both the hardware and embedded software to increase both stationary and on-trip location accuracy.

<u>Controlling Vehicle Performance</u>

All of our electric vehicles are controlled by a central control unit, which functions as the vehicle's on-board computer that runs our proprietary software and controls the motor, reacts to rider behavior, and processes data collected from embedded sensors. The central control unit also executes commands received from the Rider App or the Lime Supply App, such as unlocking the vehicle.

**Tech-Enabled Operations**

Lime's operations integrate employees, logistics providers, and contingent workers, all supported by data and technology designed to optimize efficiency, compliance, and service quality. Fleet activities such as deployment, retrieval, repositioning, charging, and maintenance are carried out across in-field and in-warehouse settings.

Operational activities are heavily guided by technology. The Lime Supply App applies data and algorithms to create and prioritize tasks that we believe will optimize return on investment and deliver the highest quality trip at the lowest possible cost and make optimal use of our workforce. The task management system in the Lime Supply App identifies the expected cost of an operational task and the downstream revenue we expect that task could generate to determine which tasks to prioritize. For example, our systems will automatically create high value tasks which involve signaling the need to reposition vehicles from one location to another within a city if our algorithms indicate that the downstream revenue from another location is higher, net of the costs to move the vehicle.

We apply data-driven dynamic task creation across a number of other tasks as well, including battery swapping and repairs. For example, our technology is designed to assess acceleration rates to understand which vehicles may have low tire pressure and to assess deceleration rates relative to brake handle position to identify and anticipate which vehicles may need brake adjustments. Certain repairs can be completed in the field, which improves vehicle quality and uptime. This helps lower our costs by avoiding a return-to-warehouse workflow and helps increase revenue by optimizing vehicle availability.

We recognize the importance of local execution in supporting day-to-day fleet management and maintenance. Lime seeks to reflect the communities we serve by engaging employees, logistics providers, and contingent workers locally across our markets. We also work with community organizations on initiatives that promote local engagement and broaden economic participation, reinforcing our commitment to being a trusted and collaborative partner in the cities where we operate.

**Sales and Marketing**

Lime sells to cities and markets to riders. Our sales efforts begin with cities, which generally must grant a permit to micromobility operators to launch their services in the public right of way. Once active in a city, our marketing and communications strategy ranges from leveraging the expanding visibility and availability of our vehicles as mobile advertisements for the Lime brand to community-building events and activations that provide brand-driven audience growth. We have expanded our reach through earned

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public relations, social media, and high-impact viral brand moments, all of which has fueled cultural momentum.

***Opening and growing markets***

Lime employs a consultative selling approach to establish, win, retain, and grow our micromobility operations. We couple our global experience, differentiated technology, and product offerings with deep knowledge of local priorities, policies, and politics to cultivate effective, long-term city partnerships that have propelled a competitive advantage.

<u>Market Entry and City Engagement</u>

Lime's local government relations team establish and nurture meaningful relationships with governments in the cities where Lime seeks to operate. We start by laying the groundwork for new market entry, working as a trusted third-party advisor to local governments as they shape shared micromobility program parameters. Shared micromobility is a nascent industry, and few cities know what regulations they need before establishing a successful shared micromobility program. We work with cities to adapt global best practices to their local needs.

<u>Securing Market Access through Competitive Bid Processes</u>

Most cities require micromobility operators to secure a permit before deploying vehicles into the public right of way. Lime excels at navigating the competitive bid processes for permits. Our pitch to cities combines an understanding of local policy priorities to craft a compelling proposal that highlights our proprietary hardware and software, extensive data, global operational experience, strong compliance track record, and stable financial profile.

<u>Retention and Renewal</u>

Lime has a strong track record of retaining permits in cities, quickly becoming a core shared micromobility partner once we enter a market. We leverage our strong compliance record, vehicle utilization, and superior hardware to win permit renewals and grow our fleet once we are active in a market, often beyond the permit's initial parameters.

<u>Fleet Growth and Market Share Expansion</u>

As trust builds between a city and a micromobility operator, there are often opportunities to grow fleet sizes during the course of the permit operating period. Initially, cities typically grant similar number of fleet caps to all permitted micromobility operators. Over time, fleet size increases are generally awarded based on performance, such as meeting utilization or compliance metrics set forth in the permit. Lime has a strong track record of securing these fleet increases by leveraging our proprietary advanced technology, operational efficiency, and a strong compliance record. In Seattle, for example, the first competitive permit to operate 500 e-scooters was awarded to Lime and two other operators in 2020. Five years later, Lime is permitted to operate 10,500 vehicles, while one other operator is permitted for 2,000.

Lime has been able to replicate this approach in other cities. In 2025, we recorded 48 instances of fleet cap increases that were exclusive to Lime resulting in an average increase to our fleet cap of 532 vehicles per city, helping to strengthen our competitive advantage and grow our market share.

We expect our ability to win permits in new cities and grow our fleet within existing cities, driven by performance and compliance, to be a key lever for Lime's future growth and market leadership.

***Rider marketing***

Once operational in a city, Lime's iconic vehicles serve as mobile advertisements, keeping Lime top of mind for new and existing riders as well as non-riding members of the public. We support and bolster

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our on-street presence in a city with strategic, earned public relations and rider-focused partnerships and activations to engage and retain riders.

<u>Organic Presence</u>

Lime enjoys significant brand visibility due to the scaled presence of our e-scooters and e-bikes in urban environments. This widespread exposure contributes to a high level of unaided brand awareness. As we grow our presence in cities, we participate in local events as well as host brand experiences to bring new riders into the funnel and engage our loyal riders. Lime's cultural presence leads to high-profile, unpaid endorsements and viral marketing opportunities. Celebrity sightings and mentions of Lime in pop culture are examples of no-cost activations that drive awareness and reinforce our brand's value and appeal. This combination of broad public awareness, our strong public relations strategy, and organic, unpaid viral marketing contributes to our low baseline marketing costs, which represented approximately 2% of revenue in 2025. The high visibility of Lime e-scooters and e-bikes encourages habitual usage of existing riders, reinforces brand awareness, and encourages observers to become active users through consistent visual reinforcement.

<u>Marketing</u>

Lime limits marketing spend by focusing on organic growth, public relations and high-impact, strategic partnerships. A key driver of user acquisition is word-of-mouth referrals and internal referral programs. This organic approach is highly cost-effective, leveraging existing rider satisfaction to attract new users. Our Group Ride program facilitates social riding experiences and introduces new users to the platform through existing riders. According to a survey we conducted, in 2024, 62% of our most valuable riders said their group ride companions have gone on to become Lime riders themselves. This, coupled with strategic partnership campaigns such as the 2025 "Liming to Love" partnership with Bumble, enable Lime to acquire riders with relatively low marketing expenditures. Once onboarded to the platform, Lime seeks to enhance retention of riders with offerings such as LimePass, which allow riders to purchase discounted ride minutes, offered at different increments, customized by city or a subscription plan.

<u>Uber Partnership</u>

Through Lime's mutually exclusive partnership with Uber, Lime vehicles are featured as a ride option within the Uber app in nearly all of our shared markets. This integration acts as a high-efficiency rider acquisition channel. By leveraging Uber's existing infrastructure and user network, we tap into an existing rider base that drives awareness without additional marketing costs. Lime is also the sole transportation provider on Uber's premium subscription platform, Uber One, opening our service to Uber's most loyal user base. By positioning Lime as a natural extension of Uber's transportation network, our partnership allows Lime to strategically target consumers already invested in shared mobility, driving adoption in new and existing cities. At the same time, Uber's reputation for reliability also extends to Lime, encouraging riders who already trust Uber to view Lime as a dependable choice from the start.

**Research and Development**

Our research and development strategy focuses on advancing our proprietary hardware and software that powers our vertically integrated platform. At Lime we are constantly innovating to improve the experience for riders and cities alike. We use extensive data from our vehicles and rides to inform and rapidly develop new features in our software, enabling us to push updates across our platform and vehicles, reducing friction for riders. Our longer-term research and development strategy revolves around developing new vehicles and enhancing existing vehicles to enable us to consistently address the evolving mobility needs of cities and rider preferences. Our global scale and efficient operating model allows us to invest to maintain our technological and business advantages. Specifically, we are focused on investing in the following three areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Hardware Innovation</u>: We design and engineer our vehicles, including our proprietary e-scooters, e-bikes, and seated e-scooters, in-house to elevate the rider experience, lower total cost of

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ownership, and prioritize safety and efficiency. To elevate the rider experience, we design components and features that improve comfort and convenience, including low step on/off/through heights for ease of vehicle access and swept handlebars to support longer rides. To reduce our total cost of ownership, we focus on customized and redesigned components for durability and maintainability, such as parts that can be shared between generations of e-scooters and e-bikes to streamline inventory management, and focusing on universal designs that optimize our ability to redeploy any vehicle in our fleet seamlessly into any nearby cities or regions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Software Innovation</u>: Our software is designed to be user friendly for both our operations workforce who use the Lime Supply App and our riders who use the Rider App. In software our research and development initiatives are also driven by our advanced data strategy. Since inception, we have invested in developing sophisticated data acquisition and analysis capabilities, including algorithms that leverage our proprietary telemetry data which support our precise demand forecasting. Our research and development strategy also focuses on developing predictive analytical techniques and machine learning to further optimize the efficiency of our operations. We continuously develop new methods to extract greater value from our data assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Talent Investment</u>: As our technological advantage has been core to our success, we continuously invest in talent in research and development. Our research and development team is composed of a highly skilled workforce focusing on both hardware and software design and development. We employ mechanical and electrical engineers and industrial designers who develop our hardware products and software, IoT, and embedded software engineers who focus on our software systems. We plan to continue expanding our headcount to deepen our expertise and broaden our capabilities in all areas across our platform. We believe this strategic growth in our research and development team is crucial for addressing new opportunities and bringing novel, impactful innovation to market.

As a direct consequence of our strategic investments, we anticipate that our research and development expenses will increase on an absolute dollar basis. This sustained investment underscores our commitment to maintaining our competitive edge in the market.

**Operations and Support** 

Lime focuses on delivering excellent customer service to both cities and riders. Typically, our local operations team, which includes government relations and operations staff, meets with city officials on a monthly basis to review the micromobility program and present periodic reports on usage, adoption, or other trends. City officials can also contact our local operations team through a dedicated email or phone number to ask questions, request operational changes — such as adjusting geofenced zones for a special event — or report issues for the operations team to address. City officials also have direct access to an experienced local operations manager for more urgent matters. Lime's trust and safety team also maintains a portal for local law enforcement to raise issues or request data related to any road safety or other incidents.

Riders can access our customer service teams via the Rider App, the Lime website, phone, email, and social media. We operate a globally distributed customer service team with local language coverage that uses customer service tools such as Zendesk to track and address concerns raised by riders or members of the public. Riders are also invited to rate their ride at the end of each trip, and a low rating after a trip triggers an optional feedback form for riders to report specific issues or open a customer service ticket. Additionally, consecutive low ratings on a particular vehicle will prompt the vehicle to be deactivated until a member of the local operations workforce inspects the vehicle and certifies it for use.

In addition to investing the resources required to promptly resolve city and rider concerns, Lime also uses technology to track and analyze quantitative and qualitative feedback received by cities, members of

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the public, and riders. We use these data to continuously improve our service and inform the ongoing development of our platform and the rider experience.

**Trust and Safety**

We have a dedicated trust and safety team to handle incident responses around the globe. Our goal is to be the safest micromobility operator in the industry. Even while the number of riders and vehicles has increased over time, the rate at which incidents are reported has declined. From 2021 through 2025, 99.99% of Lime rides ended without a reported incident.

Safety is a shared responsibility among Lime, our riders, and the cities we serve. The three safety pillars that guide our shared responsibility-approach are safe vehicles, safe behavior, and safe streets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Vehicles</u>: At Lime, we design our vehicles entirely in-house. We take pride in designing and deploying safe vehicles that support rider visibility, confidence, and stability. Each vehicle type is uniquely engineered with rider experience and safety at the forefront. All vehicles feature high-contrast green and white paint schemes, are equipped with lights and reflectors, and have audible warning devices. Vehicles are carefully tuned for smooth and predictable acceleration and equipped with redundant braking systems with enclosed cabling. For example, the Gen4 e-scooter features a wide footboard, a low center of gravity, swept handlebars with anti-slip grips, and a large pneumatic front wheel. The Gen4 e-bike includes a step-through frame, an adjustable seat, and pneumatic spoked wheels for enhanced stability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Behavior</u>: We work to inform and educate riders to ride safely, comply with local laws, and avoid conduct that puts themselves or others at risk. New riders gain access to a vehicle-specific safety tutorial and have the option to engage a beginner "Training Mode" that provides a slower vehicle operating experience until they become more confident riders. Moreover, we may activate in-app educational features and safety quizzes tailored for local rules and regulations, multichannel safety campaigns, and our signature First Ride Academies safety course to reinforce safety and compliance. Through ongoing rider engagement, we encourage our riders to wear helmets through several channels, including in-app and on-vehicle messaging, giving helmets away at events, and offering riders incentives through our in-app "Helmet Selfie" feature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Safe Streets</u>: We partner closely with cities to support initiatives that enhance urban mobility and public safety. For example, local law enforcement have a dedicated portal to reach our trust and safety team to raise issues or request data related to any road safety or other incidents. By leveraging the data collected from our rides, we work with our government and community partners to identify traffic safety challenges and advocate for infrastructure improvements, including bike lanes, that protect low-speed road users and encourage more people to cycle, scoot, and walk.

**Intellectual Property**

Our intellectual property is an important component of our business. To establish and protect our proprietary rights, we rely on a combination of patents, trademarks, copyrights, domain names, social media handles, trade secrets, know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure and invention assignment agreements, and other intellectual property and contractual rights.

As of March 31, 2026, we had 55 issued U.S. patents and approximately 70 issued patents outside of the United States, with approximately 7 pending U.S. patent applications, and approximately 53 pending patent applications outside of the United States. Our patent portfolio reflects our investment in the innovation in our fleet of proprietary electric vehicles and the feature-set of our service offering. Similarly, our trademark program is designed to preserve and protect our global brand and marketing efforts, consisting of approximately 17 registered trademarks in the United States and approximately 143 trademarks registered in jurisdictions outside of the United States, in each case as of

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March 31, 2026. In addition, we hold certain common law rights in and to certain Lime brand assets in the United States and non-U.S. jurisdictions. We have registered domain names that we use in or relate to our business, such as the li.me domain name and country code top level domain name equivalents.

**Regulation**

As of December 31, 2025, we operated in approximately 230 cities across 29 countries, which subject us to a variety of complex laws, rules, and regulations. These laws and restrictions are dynamic due to the evolving nature of shared micromobility as an industry.

In most cities where we operate, we are required to obtain a permit for our operations. In addition, our vehicles are subject to classification and regulation for safety, insurance, and general operability. We are also subject to many other laws and regulations governing issues such as worker classification, labor and employment, anti-discrimination, payments, product liability, environmental protection, personal injury, intellectual property, data protection, data privacy, AI, consumer protection and warnings, marketing, taxation, cybersecurity, competition, unionizing and collective action, arbitration agreements, worker confidentiality obligations, terms of service, mobile application accessibility, and money transmittal.

These laws and regulations are constantly evolving and may be interpreted, applied, created, or amended, in a manner that could harm our business. See the sections titled "Risk Factors," including the sections titled "—Risks Related to Our Business and Industry—Our business depends in large part on securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects," "—Risks Related to Our Business and Industry —Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects," "—Risks Related to our Technology and Intellectual Property—Our platform contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could disrupt our riders' ability to access our platform," "—Risks Related to our Technology and Intellectual Property—We rely on third-party payment processors to process payments made by riders on the Rider App, and if we cannot manage our relationships with such third parties and other payment-related risks, our business, financial condition, results of operations, and prospects could be adversely affected," and "—Risks Related to Legal, Regulatory and Insurance Matters," for additional information about the laws and regulations we are subject to and the risks to our business associated with such laws and regulations.

***Permitted Operations***

In most markets we serve, we are required to obtain a permit for our operations. Permits are typically secured following a competitive bid process or licensing process where one to three micromobility operators are often selected by the city for a defined operating period. Permit requirements can address topics such as vehicle type, fleet size, operating zones, parking rules, specific vehicle requirements, helmet use and other safety requirements, insurance, and other matters, and can vary significantly by location based on population density, transportation infrastructure, local policy priorities, and other factors. Permits may also require reporting obligations on a micromobility operator's operational metrics in the city, which often must be reported on a monthly basis.

Permits are typically issued for an initial operating period of one to two years, and thereafter may be renewed either by automatic extension or through a renewal process specific to the particular city. Permits may be generally be revoked by a city at any time, with or without cause and in some cases, without notice to us.

Compliance with the issued permit is required for continued operations in a city and an increased likelihood of renewal of the permit. Regulators have broad discretion to change the requirements and to determine compliance during the operating period. Failure to comply with any of the requirements may result in a city unilaterally revoking our permit to operate. For a discussion of risks related to our permits, see "Risk Factors—Risks Related to Our Business and Industry—Our business depends in large part on

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securing permits to operate. Our inability to obtain or renew permits could adversely affect our business, financial condition, results of operations, and prospects." and "Risk Factors—Risks Related to Our Business and Industry—Our business depends on retaining permits to operate and our inability to retain permits or comply with the terms of permits could adversely affect our business, financial condition, results of operations, and prospects."

Apart from specific vehicle and traffic regulations, the micromobility industry is not currently broadly regulated. However, currently applicable regulations could potentially be superseded by state or federal legislation in the future. See "Risk Factors—Risks Related to Our Business and Industry—Our business is subject to a variety of U.S. and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business, financial condition, results of operations, and prospects." To bring more clarity and certainty to the micromobility industry, we engage with policymakers and advocate for legislation that establishes standards for the micromobility industry and enables our riders to continue to benefit from shared micromobility.

***Vehicle Regulation***

Beyond permit-specific requirements, aspects of Lime's vehicles, components, and maintenance operations must adhere to certain product-specific safety and operational standards from local, regional, and federal authorities. These may include specifications regarding size, weight, acceleration, speed, braking, lighting, control systems and electrical safety standards, as well as any local regulations related to battery safety, charging, storage and safe handling.

We must also comply with federal, state, local and foreign environmental and safety laws and regulations including those that address materials, recycling/second-use, waste handling, and end-of-life processing for both vehicles and batteries.

**Employees**

As of March 31, 2026, we had a total of 1,148 employees worldwide. In addition to our employees, we rely on logistics providers and contingent workers to support our logistics and operations. These engagements allow us to adjust coverage in response to seasonal demand fluctuations and help maintain service quality in our cities.

**Competition**

The markets we operate in are fiercely competitive and rapidly evolving, shaped by fragmented regulations, shifting rider preferences, and a crowded landscape of local, regional, and multinational operators — many of which are hyper-focused on niche geographies. Success hinges on scaling efficiently across borders while navigating operational complexity. We believe our vertically integrated platform — combining hardware, software, data, tech-enabled operations, and government relations expertise — positions us to drive growth and remain competitive in this dynamic environment.

While micromobility solutions like ours can sometimes compete with public transit and ride-hailing for short urban trips, we believe we ultimately complement these systems by filling critical gaps — serving as first- and last-mile connectors, reducing congestion, and extending the reach of traditional transportation networks to create a more seamless, integrated urban mobility ecosystem. Though walking remains the most available and sustainable option for very short distances, shared micromobility bridges the gap for trips just beyond comfortable walking range, offering speed and convenience without sacrificing sustainability.

Within the shared micromobility industry, Lime faces competition from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Global Micromobility Operators</u>: We define global operators as businesses with micromobility solutions available in cities on at least three continents. This includes major players of e-scooter and e-bike operators, like Bird, Bolt, and Neuron Mobility (merged with Beam Mobility). These

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operators' fleets of e-scooters and e-bikes are available in multiple cities and regions, often vying for permits and market share. Docked solutions operators include Lyft, who we compete with for riders and trips.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Local Operators</u>: Local micromobility operators in specific cities or countries often have a deep understanding of local regulations and community needs and leverage their "hometown hero" position to win share of fleet permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Subsidized Municipal Operators</u>: Many cities and municipalities outside of the United States operate or heavily subsidize their own bike-sharing programs, viewing them as part of their public transportation infrastructure. For example, Vélib in Paris receives significant subsidies to ensure affordability and availability. These programs often integrate with existing public transit systems and aim to serve a broader public good, sometimes making them more affordable or more widely available in certain areas than private operators. Some subsidized micromobility operators and other traditional bike-sharing systems, such as Citi Bike (owned by Lyft), utilize docked stations where vehicles must be picked up and returned to specific docking stations. These systems can be publicly or privately owned and are often integrated with public transport networks.

**Facilities**

Our corporate headquarters is located in San Francisco, California, where we lease approximately 29,000 square feet of office space pursuant to a lease agreement that expires in May 2031, subject to the terms thereof. We lease additional office and operational space in the United States and around the world, including in our most significant markets. We lease facilities that we use for operations at or near cities in which we operate. We do not own any warehouses or other real property. We believe that these facilities are generally suitable to meet our needs.

**Legal Proceedings**

We are currently involved in, and may in the future be involved in, legal proceedings, claims, and government investigations in the ordinary course of business. These include proceedings, claims, and investigations relating to, among other things, personal injury and product liability matters, regulatory matters, commercial matters, intellectual property, competition, tax, employment, pricing, discrimination, consumer rights, and property rights.

In the ordinary course of our business, various parties have from time to time claimed, and may claim in the future, that we are liable for damages related to accidents or other incidents involving riders using or who have used services offered on our platform, as well as those involving third parties. We are currently named as a defendant in a number of matters related to accidents or other incidents involving riders on our platform and third parties. We may also be liable to cities by way of indemnity obligations that may include an obligation to cover the expenses of claims made against a city related to our offerings. We maintain insurance policies (subject to self-insured retentions) which are intended to protect us against material loss. There is currently no pending or threatened legal proceeding that individually, in our opinion, is likely to have a material impact on our business, financial condition or results of operations; however, results of litigation and claims are inherently unpredictable and legal proceedings related to such accidents or incidents, individually or in the aggregate, could have a material impact on our business, financial condition, results of operations, and prospects.

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**MANAGEMENT**

**Executive Officers and Directors**

The following table sets forth information regarding our executive officers and directors as of May 7, 2026:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position(s)** |
| ***Executive Officers and Employee Director****:* | | |
| Wayne Ting | 42 | Chief Executive Officer and Director |
| Joseph Kraus | 54 | President |
| Ann Gugino | 53 | Chief Financial Officer |
| ***Non-Employee Directors****:* |  |  |
| Zhoujia Brad Bao | 51 | Director and Co-Founder |
| Elizabeth Hamren<sup>(1)(2)</sup> | 54 | Director |
| Andrew Macdonald | 42 | Director |
| Brandon Pedersen<sup>(1)(3)</sup> | 59 | Director |
| James Rowan<sup>(1)(3)</sup> | 60 | Chair of Board of Directors |
| Sarah Smith<sup>(2)(3)</sup> | 49 | Director |

---

______________

(1)&nbsp;&nbsp;&nbsp;&nbsp;Member of the audit committee.

(2)Member of the compensation committee.

(3)Member of the nominating and corporate governance committee.

**Executive Officers and Employee Director**

***Wayne Ting*** has served as our Chief Executive Officer and as a member of our board of directors since May 2020. From October 2018 to May 2020, Mr. Ting served as our Global Head of Operations and Strategy. Mr. Ting previously served as Chief of Staff to the Chief Executive Officer for Uber, a ridesharing technology company, from July 2017 to October 2018. Mr. Ting also held the position of General Manager for Uber's Northern California operations from 2015 to 2017. Before joining Uber, Mr. Ting served as a Senior Policy Advisor at the National Economic Council in the White House from May 2012 to May 2014. Mr. Ting has served on the board of Cimpress PLC, a multinational technology company, since May 2025. Mr. Ting holds an M.B.A. from Harvard Business School and a B.A. in Political Science and Government from Columbia University.

We believe Mr. Ting is qualified to serve as a member of our board of directors because of the perspective and experience he brings as our Chief Executive Officer.

***Joseph Kraus*** has served as our President since November 2018, and effective May 22, 2026, Mr. Kraus retired as our President. Mr. Kraus served as Partner for Google Ventures, a venture capital firm, from October 2009 to November 2018 and as Director of Product Management at Google Inc. (now Alphabet Inc.), from November 2006 to October 2009. Mr. Kraus previously served as Chief Executive Officer of JotSpot, Inc., a wiki software company, from June 2003 to October 2006. Mr. Kraus holds a B.A. in Political Science from Stanford University.

***Ann Gugino*** has served as our Chief Financial Officer since December 2023. Ms. Gugino previously served as Chief Financial Officer of Papa John's International, Inc., a pizza delivery restaurant chain, from October 2020 to May 2023. From May 2018 to October 2020, Ms. Gugino served as Senior Vice President of Financial Planning and Analysis at Target Corporation, a retail corporation. From January 2000 to May 2018, Ms. Gugino held roles of increasing responsibility at Patterson Companies, Inc., an international distributor, including Executive Vice President and Chief Financial Officer from November

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2014 to April 2018. Ms. Gugino began her career at Ernst & Young LLP, where she worked from December 1994 to December 1999. Ms. Gugino holds an Executive M.B.A from Northwestern University Kellogg School of Management and a B.S. in Accounting from the University of Wisconsin–Eau Claire.

**Non-Employee Directors**

***Zhoujia Brad Bao*** is one of our co-founders and has served as a member of our board of directors since May 2020. He previously served as chair of our board of directors from May 2020 until March 2026. Mr. Bao previously served as our Chief Executive Officer from July 2017 to May 2020. Mr. Bao co-founded One Market Inc. (DBA Pear.us), an e-commerce technology platform, in July 2021 and has served as its Chief Executive Officer since its founding. Mr. Bao previously served as Managing Partner of Kinzon Capital from September 2013 to April 2017. Mr. Bao also served in various roles between 2005 to 2013 for Tencent Holdings Limited, a multimedia technology company. Mr. Bao also serves as a director or board member of several private companies. Mr. Bao holds an M.B.A. from the University of California, Berkeley, Haas School of Business and a B.B.A. in International Marketing from Wuhan University.

We believe Mr. Bao is qualified to serve as a member of our board of directors because of the perspective and experience he brings as our co-founder.

***Elizabeth Hamren*** has served as a member of our board of directors since April 2026. Ms. Hamren has served as Chief Executive Officer of AllTrails, LLC, an outdoor exploration platform, since August 2025. Prior to AllTrails, Ms. Hamren served as Chief Executive Officer of Ring LLC, a home security and smart devices manufacturer and a subsidiary of Amazon.com, Inc., from March 2023 to June 2025. She also served as Chief Operating Officer of Discord Inc., a communications platform, from December 2021 to March 2023. Ms. Hamren served as Corporate Vice President, Gaming Experience & Platforms at Microsoft Corporation, a technology company, from 2018 to December 2021 and in other leadership roles from 2017 to 2018. Ms. Hamren served in various roles at Meta Platforms, Inc., a technology company, and Dropcam, Inc., a technology company, between 2012 and 2017. Ms. Hamren has also served on the board of directors of LegalZoom.com, Inc., an online legal services platform, since 2021, and Hasbro, Inc., a toy manufacturing and entertainment company, since 2022. Ms. Hamren holds an M.B.A from Harvard Business School and a B.S. in Civil Engineering and Operations Research from Princeton University.

We believe Ms. Hamren is qualified to serve on our board of directors due to her extensive experience in executive leadership in the technology and consumer product industries, and her experience serving on the board of other major public companies.

***Andrew Macdonald*** has served as a member of our board of directors since June 2022. Mr. Macdonald has served as President and Chief Operating Officer of Uber since June 2025. Mr. Macdonald previously served as Uber's Senior Vice President, Head of Global Mobility from 2019 to June 2025 and held various general management and regional leadership roles between 2012 and 2019. Mr. Macdonald was a consultant at Bain & Company, a consulting firm, between 2007 to 2010 and later co-founded multiple early-stage private companies. He has served on the board of Maple Leaf Foods Inc., a multinational consumer packaged meats and food production company, since May 2023. Mr. Macdonald also served previously on the board of Careem Technologies Holding Ltd., a technology company, from 2023 to July 2025 and Rise Asset Development, a microfinancing company, from August 2019 to December 2023. Mr. Macdonald holds an H.B.A. from the Ivey Business School at Western University.

We believe Mr. Macdonald is qualified to serve on our board of directors because of his extensive experience in the technology industry.

***Brandon Pedersen*** has served as a member of our board of directors since August 2025. Mr. Pedersen has served as Executive Vice President and Chief Financial Officer of Alaska Air Group, Inc., an airline company, from June 2010 to March 2020 and as their Vice President Finance and Corporate Controller from 2003 to 2010. Prior to his positions at Alaska Air, Mr. Pedersen served as audit partner at

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KPMG LLP from 2001 to 2003 and at Arthur Anderson LLP from 2000 to 2001. He has served on the boards and audit committees of Trivago N.V., a global online hotel search and booking site company, Saltchuk, a family of private transportation and distribution companies, and Expeditors International of Washington, Inc., a global logistics provider, since July 2024, April 2021, and February 2022, respectively. Mr. Pedersen holds a B.A. in Business Administration (Accounting) and a B.A. in Economics from the University of Washington.

We believe Mr. Pedersen is qualified to serve on our board of directors because of his extensive experience in the transportation sector as well as the perspectives he brings from his tenure as a chief financial officer of a public company.

***James Rowan*** has served as a member of our board of directors since September 2025 and became the chair of our board of directors in March 2026. Mr. Rowan has served as Chief Executive Officer at Volvo Cars, a multinational manufacturer of luxury vehicles, from March 2022 to April 2025. Mr. Rowan has also served as Chief Executive Officer at Ember Technologies, Inc., a temperature control brand and technology platform, from February 2021 to March 2022. Mr. Rowan served as Chief Operating Officer at Dyson, a multinational technology company, from 2012 to 2017, Chief Executive Officer from 2017 to 2020 and as a director from 2012 to 2020. Mr. Rowan has served as a director for several public and private companies, including Volvo Cars, Henkel GMBH and Nanofilm PTE. Mr. Rowan holds a Master's degree in Business with specialization in supply chain management and logistics from Northumbria University. Mr. Rowan also holds an HNC in Mechanical and Production Engineering from Glasgow Caledonian University.

We believe that Mr. Rowan is qualified to serve our board of directors because of his significant global experience as a technology executive.

***Sarah Smith*** has served as a member of our board of directors since June 2020. Ms. Smith founded and has served as Managing Partner of Sarah Smith Fund, a venture capital firm, since October 2022. Ms. Smith previously served as Partner of Bain Capital Ventures, a venture capital firm, from May 2018 to May 2022. Ms. Smith previously served as Vice President of Sales, Operations, Human Resources and Recruiting of Quora, a global social network, from August 2012 to September 2017. Ms. Smith also serves as a board observer or board member of several private companies. Ms. Smith holds an M.B.A. from Stanford University Graduate School of Business and a B.M. in Music Education from the University of Wisconsin-Madison.

We believe Ms. Smith is qualified to serve as a member of our board of directors because of her expertise and experience working with and investing in technology companies.

**Family Relationships**

There are no family relationships among any of our executive officers or directors.

**Board Structure and Composition** 

***Director Independence***

Our board of directors currently consists of 7 members. Our board of directors has determined that all of our directors, other than Messrs. Ting, Bao, and Macdonald, qualify as independent directors in accordance with Nasdaq rules. Under Nasdaq rules, the definition of independence includes a series of objective tests, such as that the director is not, and has not been for at least three years, one of our employees and that neither the director nor any of his or her family members has engaged in various types of business dealings with us. In addition, as required by Nasdaq rules, our board of directors has made a subjective determination as to each independent director that no relationships exist that, in the opinion of our board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In making these determinations, our board of directors reviewed and

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discussed information provided by the directors and us with regard to each director's relationships as they may relate to us and our management.

***Classified Board of Directors***

In accordance with our amended and restated certificate of incorporation, which will be effective immediately prior to the completion of this offering, our board of directors will be divided into three classes with staggered three-year terms. At each annual general meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our directors will be divided among the three classes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class I directors will be Messrs. Ting and Bao, and their terms will expire at the annual meeting of stockholders to be held in 2027;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class II directors will be Mr. Macdonald and Ms. Smith, and their terms will expire at the annual meeting of stockholders to be held in 2028; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Class III directors will be Messrs. Pedersen and Rowan and Ms. Hamren, and their terms will expire at the annual meeting of stockholders to be held in 2029.

We expect that any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The division of our board of directors into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control.

***Voting Arrangements***

The election of the members of our board of directors is currently governed by our voting agreement, as amended, that we entered into with certain holders of our capital stock ("voting agreement") and the related provisions of our current certificate of incorporation and current bylaws. Pursuant to our voting agreement, current certificate of incorporation and current bylaws, Messrs. Ting and Bao were elected by holders of our common stock, voting as a single class; Ms. Smith was elected by our board of directors to the seat designated for nomination by the holders of our Series 1-A convertible preferred stock, Series 1-A1 convertible preferred stock, Series 1-B convertible preferred stock, Series 1-C convertible preferred stock and Series 1-D convertible preferred stock (collectively, the "Series 1 convertible preferred stock"), voting together as a single class; Mr. Macdonald was elected by our board of directors to the seat designated for nomination by Uber; and each of Ms. Hamren and Messrs. Pedersen and Rowan was elected as an independent director nominated by mutual approval of each other member of our board of directors.

Our voting agreement will terminate and the provisions of our current certificate of incorporation by which our directors were elected will be amended and restated in connection with this offering. After this offering, the number of directors will be fixed by our board of directors, subject to the terms of our amended and restated certificate of incorporation and amended and restated bylaws that will become effective immediately prior to the completion of this offering. Each of our current directors will continue to serve as a director until the election and qualification of his or her successor, or until his or her earlier death, resignation, or removal.

**Role of Board in Risk Oversight Process**

Risk assessment and oversight are an integral part of our governance and management processes. Our board of directors encourages management to promote a culture that incorporates risk management into our corporate strategy and day-to-day business operations. Management discusses strategic and operational risks at regular management meetings, and conducts specific strategic planning and review sessions during the year that include a focused discussion and analysis of the risks facing us. Throughout

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the year, senior management reviews these risks with the board of directors at regular board meetings as part of management presentations that focus on particular business functions, operations or strategies, and presents the steps taken by management to mitigate or eliminate such risks.

Our board of directors does not have a standing risk management committee, but rather administers this oversight function directly through our board of directors as a whole, as well as through various standing committees of our board of directors that address risks inherent in their respective areas of oversight. While our board of directors is responsible for monitoring and assessing strategic risk exposure, our audit committee is responsible for overseeing our major financial risk exposures and the steps our management has taken to monitor and control these exposures. The audit committee also approves or disapproves any related person transactions. Our nominating and corporate governance committee monitors the effectiveness of our corporate governance guidelines. Our compensation committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk-taking. The risk oversight process also includes receiving regular reports from our committees and members of senior management to enable our board of directors to understand our risk identification, risk management, and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic and reputational risk.

**Board Committees**

Our board of directors has three standing committees: an audit committee, a compensation committee, and a nominating and corporate governance committee. Each committee is governed by a charter that will be available on our website following the effectiveness of this offering. Members serve on these committees until their resignation or until otherwise determined by our board of directors.

***Audit Committee***

The members of our audit committee are Messrs. Pedersen and Rowan and Ms. Hamren. Mr. Pedersen is the chair of our audit committee. The composition of our audit committee meets the requirements for independence under the current listing standards of Nasdaq and Rule 10A-3 of the Exchange Act. Each member of our audit committee is financially literate. In addition, our board of directors has determined that Mr. Pedersen is an "audit committee financial expert" within the meaning of the SEC rules. This designation does not impose on such directors any duties, obligations, or liabilities that are greater than are generally imposed on members of our audit committee and our board of directors. Our audit committee is directly responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• appointing, retaining, compensating and overseeing the work of our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• assessing the independence and performance of the independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with our independent registered public accounting firm and management the scope and results of the firm's annual audit of our financial statements as well as any issues or analysis of our financial statements presentation, selection, or application of accounting principles, and the effect of regulatory and accounting initiatives on our financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the financial statements that we will file with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pre-approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing policies and practices related to risk assessment and management, including with respect to financial risks and information technology risks, including cybersecurity and data privacy risk;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing our incident response plans and material breach disclosures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing, overseeing, approving, or disapproving any related person transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with our management the scope and results of management's evaluation of our disclosure controls and procedures and management's assessment of our internal control over financial reporting, including the related certifications to be included in the periodic reports we will file with the SEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• establishing procedures for the confidential anonymous submission of concerns regarding questionable accounting, internal controls, or auditing matters.

***Compensation Committee***

The members of our compensation committee are Mses. Hamren and Smith. Ms. Smith is the chair of our compensation committee. Each of Mses. Hamren and Smith is a non-employee director, as defined by Rule 16b-3 promulgated under the Exchange Act and meets the requirements for independence under the current listing standards of Nasdaq. Our compensation committee is responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving corporate goals and objectives with respect to the compensation of our Chief Executive Officer and evaluating the performance of and setting the compensation of our Chief Executive Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing an evaluation of our executive officers and reviewing and setting, or making recommendations to our board of directors regarding, the compensation of our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving any employment and severance agreements or arrangements of our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and making recommendations to our board of directors regarding the compensation of our non-employee board members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving, or making recommendations to our board of directors regarding, incentive compensation and equity-based plans and arrangements and overseeing administration of such plans.

***Nominating and Corporate Governance Committee***

The members of our nominating and corporate governance committee are Messrs. Pedersen and Rowan and Ms. Smith. Mr. Rowan is the chair of our nominating and corporate governance committee. Each of Messrs. Pedersen and Rowan and Ms. Smith meet the requirements for independence under the current listing standards of Nasdaq. Our nominating and corporate governance committee is responsible for, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• identifying and recommending candidates for membership on our board of directors, including the consideration of nominees submitted by stockholders, and on each of the board's committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• evaluating and presenting to our board of directors the independence determination of each director and candidate, and reviewing and recommending to our board of directors regarding the composition of our board committees;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• developing, reviewing, and recommending to our board of directors our corporate governance guidelines, and monitoring compliance with our corporate governance guidelines and conflicts of interest policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and making recommendations to our board of directors regarding requests for waivers of our corporate governance policies, practices, and procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing the evaluation of the performance of our board of directors and the director orientation and continuing education programs for our board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• overseeing succession planning for our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and overseeing our strategy, initiatives, policies, and risks concerning environmental and social matters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• making recommendations to our board of directors on corporate governance matters.

**Code of Business Conduct**

In connection with this offering, our board of directors will adopt a code of business conduct that applies to all of our employees, officers, and directors, including our Chief Executive Officer, Chief Financial Officer, and other executive and senior financial officers. Upon the completion of this offering, the full text of our code of business conduct will be posted on the investor relations section of our website. We intend to disclose future amendments to our code of business conduct, or any waivers of such code, on our website or in public filings.

**Indemnification and Insurance**

We maintain directors' and officers' liability insurance. Our amended and restated certificate of incorporation and amended and restated bylaws will include provisions limiting the liability of directors and officers and indemnifying them under certain circumstances. We have entered or will enter into indemnification agreements with each of our directors and officers to provide our directors and officers with additional indemnification and related rights. See the section titled "Description of Securities—Limitations on Liability and Indemnification Matters" for additional information.

**Compensation Committee Interlocks and Insider Participation**

None of the members of our board of directors who serve on our compensation committee is or has been an officer or employee of our company. None of our executive officers currently serves, or in the past fiscal year has served, as a member of a compensation committee (or if no committee performs that function, the board of directors) of any other entity that has an executive officer serving as a member of our board of directors.

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**EXECUTIVE AND DIRECTOR COMPENSATION**

This section discusses the material components of the executive compensation program for our executive officers who are named in the "Summary Compensation Table" below. In 2025, our "named executive officers" and their positions were as follows, who included our principal executive officer and the two most highly compensated executive officers (other than our principal executive officer):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wayne Ting, Chief Executive Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Joseph Kraus, President; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ann Gugino, Chief Financial Officer.

Effective May 22, 2026, Mr. Kraus retired as our President.

This discussion may contain forward-looking statements that are based on our current plans, considerations, expectations and determinations regarding future compensation programs. Actual compensation programs that we adopt following the completion of this offering may differ materially from the currently planned programs summarized in this discussion. As an "emerging growth company" as defined in the JOBS Act, we are not required to include a Compensation Discussion and Analysis section and have elected to comply with the scaled disclosure requirements applicable to emerging growth companies.

**Summary Compensation Table** 

The following table sets forth information concerning the compensation of our named executive officers for the years ended December 31, 2024 and December 31, 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year** | **Salary**<br>**($)** | **Option Awards ($)**<sup>(1)</sup> | **Stock Awards ($)**<sup>(1)</sup> | **Non-Equity Incentive Plan Compensation ($)**<sup>(2)</sup> | **Total ($)** |
| Wayne Ting, Chief Executive Officer | 2025 | 516767 |  | 1940040 | 488800 | 2945607 |
| Wayne Ting, Chief Executive Officer | 2024 | 500000 | 3504824 |  | 500000 | 4504824 |
| Joseph Kraus, President | 2025 | 331124 |  | 765000 | 155628 | 1251752 |
| Joseph Kraus, President | 2024 | 331124 | 557649 |  | 99337 | 988110 |
| Ann Gugino, Chief Financial Officer | 2025 | 516767 |  | 765000 | 366600 | 1648367 |
| Ann Gugino, Chief Financial Officer | 2024 | 500000 |  |  | 375000 | 875000 |

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(1)Amounts reflect the full grant-date fair value of stock awards and stock options granted during 2024 and 2025, computed in accordance with ASC Topic 718 (which for the stock options that vest based on certain market conditions, reflects the full grant date fair value, as adjusted to reflect any reduction in value that is appropriate for the probability that the market condition might not be met and the shares not earned), rather than the amounts paid to or realized by the named individual. We provide information regarding the assumptions used to calculate the value of all stock awards and option awards made to executive officers in <u>[Note 11](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

(2)Amounts reflect annual bonuses earned by each named executive officer that were certified and paid on March 13, 2026. See the section titled "—Narrative to Summary Compensation Table—2025 Bonuses" below.

**Narrative to Summary Compensation Table**

***2025 Salaries***

The named executive officers receive a base salary to compensate them for services rendered to us. The base salary payable to each named executive officer is intended to provide a fixed component of compensation reflecting the executive's skill set, experience, role and responsibilities.

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***2025 Bonuses***

In 2025, each of Messrs. Ting and Kraus and Ms. Gugino was eligible to earn an annual cash bonus targeted at $520,000, $165,562, and $260,000, respectively. Pursuant to our annual cash bonus program, each named executive officer was eligible to earn his or her annual bonus based on the attainment of pre-established annual company and individual performance objectives. On March 13, 2026, the actual achieved bonus amounts of $488,800, $155,628, and $366,600 earned in 2025, based on the achievement of company and individual performance objectives, were paid to Messrs. Ting and Kraus and Ms. Gugino, respectively.

These amounts are also are set forth above in the section titled "—Summary Compensation Table" in the column titled "Non-Equity Incentive Plan Compensation."

***Equity Compensation***

Certain of our named executive officers currently hold stock option awards granted pursuant to the 2017 Stock Incentive Plan, as amended (the "2017 Plan") that were granted in 2025.

On March 24, 2025, Messrs. Ting and Kraus and Ms. Gugino were each granted an award of 141,517, 55,803 and 55,803 RSUs, respectively. The RSUs have two vesting requirements, (i) a liquidity event requirement which will be satisfied upon the completion of this offering and (ii) a time-based requirement which will be satisfied as to 1/12<sup>th</sup> of the RSUs on each quarterly anniversary of March 15, 2025 over three years, subject to the named executive officer's continued service through each applicable vesting date.

In connection with this offering, we adopted a 2026 Incentive Award Plan, referred to below as the 2026 Plan, in order to facilitate the grant of cash and equity incentives to our directors, employees (including our named executive officers) and consultants and certain of our affiliates and to enable us and certain of our affiliates to obtain and retain the services of these individuals, which is essential to our long-term success. For additional information about the 2026 Plan, please see the section titled "—Equity Incentive Plans" below.

***Other Elements of Compensation***

<u>Retirement Plans</u>

We currently maintain a 401(k) retirement savings plan for our employees, including our named executive officers, who satisfy certain eligibility requirements. Our named executive officers are eligible to participate in the 401(k) plan on the same terms as other full-time employees. The Internal Revenue Code allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) plan. We did not make any matching contributions on behalf of our named executive officers in 2025. We believe that providing a vehicle for tax-deferred retirement savings though our 401(k) plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers, in accordance with our compensation policies.

<u>Employee Benefits and Perquisites</u>

*Health/Welfare Plans.* All of our full-time employees, including our named executive officers, are eligible to participate in our health and welfare plans, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• medical, dental and vision benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• medical and dependent care flexible spending accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• short-term and long-term disability insurance; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• life insurance.

*Perquisites*. We determine whether to provide perquisites on a case-by-case basis and will provide a perquisite to a named executive officer when we believe it is necessary to attract or retain the named executive officer. We did not provide any perquisites to our named executive officers in 2025.

<u>No Tax Gross-Ups</u>

We do not make gross-up payments to cover our named executive officers' personal income taxes that may pertain to any of the compensation or perquisites paid or provided by us.

**Outstanding Equity Awards at Fiscal Year-End** 

The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive officer as of December 31, 2025.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** |
|<br>**Name** | **Vesting Commencement Date** | **Vesting Commencement Date** | **Number of Securities Underlying Unexercised Options (#) Exercisable** | **Number of Securities Underlying Unexercised Options (#) Unexercisable** | **Equity Incentive Plan Awards**: **Number of Securities Underlying Unexercised Unearned Options (#)** | **Option Exercise Price ($)** | **Option Expiration Date** | **Number of Shares or Units of Stock that have not Vested** | **Market Value of Shares or Units of Stock that Have not Vested ($)**<sup>(1)</sup> |
| Wayne Ting | 10/12/2018 |  | 22321 |  |  | 5.24 | 10/28/2028 |  |  |
|  | 9/1/2019 |  | 10416 |  |  | 5.24 | 8/26/2029 |  |  |
|  | 9/12/2019 |  | 7440 |  |  | 5.24 | 9/14/2029 |  |  |
|  | 5/22/2020 |  | 688901 |  |  | 5.24 | 7/21/2030 |  |  |
|  | 5/22/2020 |  | 8638 |  |  | 5.24 | 9/28/2030 |  |  |
|  | 9/15/2019 |  | 7440 |  |  | 5.24 | 9/14/2029 |  |  |
|  | 5/23/2024 | <sup>(2)</sup> | 196345 | 175677 |  | 11.49 | 5/22/2034 |  |  |
|  |  | <sup>(3)</sup> |  |  | 74404 | 11.49 | 5/22/2034 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 141517 | 4945200 |
| Joseph Kraus | 5/22/2020 |  | 3743 |  |  | 5.24 | 9/28/2030 |  |  |
|  | 3/1/2024 | <sup>(4)</sup> | 46502 | 27901 |  | 10.89 | 3/22/2034 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 55803 | 1950000 |
| Ann Gugino | 12/11/2023 | <sup>(5)</sup> | 148809 | 74404 |  | 10.01 | 12/14/2033 |  |  |
|  |  | <sup>(3)</sup> |  |  | 74404 | 10.01 | 12/25/2029 |  |  |
|  | 3/15/2025 | <sup>(6)</sup> |  |  |  |  |  | 55803 | 1950000 |

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(1)Amounts are calculated by multiplying the number of unvested shares shown in the table by $34.94, which was the per share fair market value of our common stock as of December 31, 2025.

(2)The shares subject to the stock option vest monthly in substantially equal installments over three years, subject to the applicable named executive officer's continued service through each applicable vesting date.

(3)The shares subject to the stock option will fully vest and become exercisable on the 10th day after both of the following conditions are achieved, subject to the named executive officer's continued service through such date and provided they are both satisfied within six years of the grant date: (i) the completion of this offering and (ii) the shares of our common stock trading publicly at or above a price per share that would result in our market capitalization at or above $4,000,000,000 for at least 90 consecutive trading days.

(4)The shares subject to the stock option vest monthly over three years, with 1/48<sup>th</sup> of the total shares subject to the option vesting during the first year, 1/24<sup>th</sup> of the total shares subject to the option vesting monthly during the second year and 1/48<sup>th</sup> of the total shares subject to the option vesting during the third year, subject to the applicable named executive officer's continued service through each applicable vesting date.

(5)The shares subject to the stock option vest over three years, with 1/3<sup>rd</sup> of the shares subject to the option vesting on the first anniversary of the vesting commencement date and 1/36<sup>th</sup> of the shares subject to the option vesting on each monthly anniversary thereafter, subject to the applicable named executive officer's continued service through each applicable vesting date.

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(6)The RSUs vest based on the satisfaction of two requirements: (i) a liquidity event requirement, which will be satisfied upon the completion of this offering, and (ii) a time-based requirement that is satisfied as to 1/12<sup>th</sup> of the RSUs on each quarterly anniversary of the vesting commencement date over a three-year period, subject to the applicable named executive officer's continued service through each applicable vesting date.

**Executive Compensation Arrangements**

***Executive Employment Arrangements***

On May 21, 2026, we entered into amended and restated offer letters with Mr. Ting and Ms. Gugino that supersede their prior offer letters. Each offer letter provides for their position, salary, annual target bonus, eligibility to receive equity awards under the 2026 Plan and participate in the CIC Severance Plan (as defined below), and continuing eligibility for severance benefits upon a qualifying termination not in connection with a "change in control" (as defined in the 2017 Plan). The offer letters also require Mr. Ting's and Ms. Gugino's continued compliance with the confidential information and invention assignment agreement that they previously entered into with us, which provides for perpetual confidentiality obligations, assignment of inventions, non-competition obligations during the term of employment, no conflict with any prior relationships and commitments and, for Ms. Gugino only, non-solicitation of any of our employees during the term of employment and 12 months thereafter.

Upon termination by us without "cause" or Mr. Ting's resignation for "good reason" other than in connection with a "change in control," Mr. Ting is entitled to (i) salary continuation and payment of monthly COBRA premiums, in each case, for a period of six months following the termination date and (ii) accelerated vesting of certain option awards, which have vested prior to the date hereof, in each case, subject to Mr. Ting (1) returning of all of our property in his possession, (2) resigning from any director position with us or any of our subsidiaries and (3) timely executing and not revoking a prescribed form of release of claims.

The amended and restated offer letter for Ms. Gugino provides that if Ms. Gugino's employment is terminated by us without "cause" other than in connection with a "change in control," she is entitled to receive a lump-sum payment equal to six months of her then-current base salary, in each case, subject to Ms. Gugino (i) returning all our property in her possession, (ii) resigning from any officer or director position with us or any of our subsidiaries, and (iii) timely executing and not revoking of a mutual general release of claims in favor of us and our officers and directors. The offer of employment further provides for certain equity acceleration upon a qualifying termination in connection with a "change in control," which is superseded by our CIC Severance Plan.

We also entered into an offer letter with Mr. Kraus at the commencement of his employment, which provided that upon termination by us without "cause" or Mr. Kraus's resignation for "good reason" that is not a "post-CIC protected termination" (as defined in his offer letter), subject to his timely execution of a release of claims, Mr. Kraus would be entitled to receive (i) a lump-sum payment equal to six months of the applicable then-current base salary, (ii) payment or reimbursement for COBRA premiums until the six-month anniversary of the termination date and (iii) the accelerated vesting of unvested awards as though Mr. Kraus's employment had continued for an additional six months following the termination date. The offer letter for Mr. Kraus further provided for certain equity acceleration upon qualifying termination in connection with a "change in control," which is superseded by our CIC Severance Plan. Mr. Kraus retired as our President effective May 22, 2026.

***Lime Executive Severance Plan***

We maintain the Lime Executive Severance Plan (the "CIC Severance Plan") pursuant to which executives designated by our board of directors and/or our compensation committee with at least six continuous months of service, including the named executive officers, are eligible to receive certain severance entitlements upon qualifying terminations.

Pursuant to the CIC Severance Plan, if a named executive officer's employment is involuntarily terminated by us without "cause" or if a named executive officer resigns for "good reason," in each case,

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within three months prior to or 24 months following a "change in control" (each such term, as defined in the CIC Severance Plan), then, subject to the named executive officer's timely execution and non-revocation of a general release of claims and continued compliance with any post-employment obligations, including any restrictive covenants, the named executive officer will be eligible to receive (i) a lump-sum payment equal to 24 months of base salary and monthly target bonus for Mr. Ting and 12 months of base salary and monthly target bonus for each other named executive officer, (ii) a pro-rata lump-sum payment of the named executive officer's target annual bonus for the year in which the termination occurs based on the number of days elapsed in the year through the date of termination, (iii) accelerated vesting of any then-outstanding and unvested time-based equity awards, effective as of immediately prior to the date of termination, (iv) continued healthcare coverage for 24 months for Mr. Ting and 12 months for each other named executive officer, and (v) 12 months of career transition support.

Pursuant to the CIC Severance Plan, in the event that any amounts payable to a named executive officer are subject to an excise tax pursuant to Section 280G or Section 4999 of the Code, the named executive officer will receive either (i) the full amount of such payments or (ii) such payments reduced to the least extent necessary to prevent the application of such excise tax, whichever will result in the greatest after tax benefit to the named executive officer.

**Director Compensation** 

Prior to the effectiveness of the registration statement of which this prospectus forms a part, we did not have a formal policy with respect to compensation payable to our non-employee directors for service as directors. We have, however, paid our non-employee directors cash fees for their services as members of our board of directors as set forth in the table below. Mr. Bao is party to board services agreement, dated as of October 18, 2025, that amends, restates, and renames his prior transition agreement with us and, solely with respect to certain provisions thereunder, Uber, dated as of August 17, 2020 (the "A&R Transition Agreement"). From the period from January 1, 2025 through October 18, 2025, Mr. Bao was entitled to an annual board service advisory fee of $200,000, payable in equal monthly installments (and pro-rated through October 18, 2025), and a monthly cash payment of $478 for healthcare coverage assistance. However, in 2025, Mr. Bao did not receive any monthly cash payments for healthcare coverage assistance. Pursuant to the A&R Transition Agreement, for the remainder of 2025, Mr. Bao was entitled to our standard director compensation package consisting of (i) an annual cash retainer of $45,000, paid quarterly, and (ii) an annual equity award valued at $225,000, granted in the form of RSUs, which vest in full on the one-year anniversary of the grant date thereof. Mr. Bao stepped down as Chair of our board of directors effective March 1, 2026.

In addition, Messrs. Rowan and Pedersen, who joined our board in 2025, were entitled to receive our standard director compensation package consisting of (i) an annual cash retainer of $45,000, to be paid quarterly (and pro-rated for their partial service in 2025), (ii) a lead independent cash retainer of $30,000 for Mr. Rowan and an audit committee chair cash retainer of $25,000 for Mr. Pedersen, each to be paid quarterly and pro-rated for their partial service in 2025, and (iii) an annual equity award of 3,175 RSUs for Mr. Rowan, and 3,705 RSUs for Mr. Pedersen, each of which shall vest upon the satisfaction of two vesting criteria: (i) a liquidity event requirement which will be satisfied upon the completion of this offering, and (ii) a time-based schedule which will be satisfied as to 100% of the RSUs on the one-year anniversary of the vesting commencement date, subject to the applicable director's continued service through the applicable vesting date. Effective March 1, 2026, following the stepping down of Mr. Bao, Mr. Rowan was appointed Chair of our board of directors (and ceased serving as the lead independent director), although he will continue to receive the same cash fees noted above.

In April 2026, Elizabeth Hamren joined our board of directors. Ms. Hamren is entitled to receive our standard director compensation package consisting of (i) an annual cash retainer of $45,000, to be paid quarterly (and pro-rated for her partial service in 2026) and (ii) an annual equity award valued at $225,000, granted in the form of RSUs, which vest in full on the one-year anniversary of the grant date thereof.

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In May 2026, in connection with this offering, we approved a grant of 5,627 RSUs to each of our non-employee directors, except for Ms. Hamren, who received a grant of 5,596 RSUs (collectively, the "Director RSUs"), and Mr. Macdonald, who has waived his right to any compensation for his service on our board of directors. The Director RSUs have a grant date that is immediately following the effectiveness of a registration statement on Form S-8 following the effectiveness of this offering. The Director RSUs will vest on the earlier of (i) the one-year anniversary of the vesting commencement date and (ii) immediately before our first annual meeting following the vesting commencement date, subject to the applicable director's continued service through the applicable vesting date. The Director RSUs were granted pursuant to the terms of our newly adopted Non-Employee Director Compensation Program (as described below) and are subject to the terms and conditions of the 2026 Plan and the form of RSU agreement thereunder.

We have also reimbursed our directors for expenses associated with attending meetings of our board of directors and committees of our board of directors.

**Non-Employee Director Compensation Program**

Commencing on the completion of this offering, our non-employee directors will be compensated in accordance with our non-employee director compensation program (the "Director Compensation Program").

Pursuant to the Director Compensation Program, our non-employee directors will receive cash compensation, paid quarterly in arrears, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each non-employee director will receive a cash retainer in the amount of $45,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any lead independent director will receive an additional cash retainer in the amount of $30,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The non-executive chair will receive an additional cash retainer in the amount of $50,000 per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the audit committee will receive an additional cash retainer in the amount of $25,000 per year for such chair's service on the audit committee. Each non-chair member of the audit committee will receive a cash retainer in the amount of $12,500 per year for such member's service on the audit committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the compensation committee will receive an additional cash retainer in the amount of $20,000 per year for such chair's service on the compensation committee. Each non-chair member of the compensation committee will receive a cash retainer in the amount of $10,000 per year for such member's service on the compensation committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The chair of the nominating and corporate governance committee will receive an additional cash retainer in the amount of $15,000 per year for such chair's service on the nominating and corporate governance committee. Each non-chair member of the nominating and corporate governance committee will receive a cash retainer in the amount of $7,500 per year for such member's service on the nominating and corporate governance committee.

Each non-employee director may elect, on an annual basis, to convert all or a portion of such non-employee director's annual retainer into a number of restricted stock units granted under the 2026 Plan, which will be fully vested on the date of grant, and, subject to approval of our board of directors, settlement of the restricted stock units may be deferred at the election of the non-employee director.

Under the Director Compensation Program, upon his or her initial appointment or election to the board of directors (the "Director Start Date"), each non-employee director will automatically be granted a prorated annual award under the 2026 Plan (the "Initial Award") comprised of a number of restricted stock units determined by dividing (a)(i) $225,000 multiplied by (ii) a fraction (the numerator of which is the

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difference between 365 and the number of days from the immediately preceding last annual meeting of our stockholders date (or the date this offering is completed, if there is no preceding annual meeting date) through the Director Start Date and denominator of which is 365) by (B) the average per share closing trading price of Company common stock over the 30 consecutive trading days ending on the last trading day preceding the grant date. In addition to the Initial Award, on the date of each annual meeting of our stockholders following the completion of this offering, each non-employee director who will continue to serve as a non-employee director immediately following such annual meeting will automatically be granted an award under the 2026 Plan (the "Annual Award") comprised of a number of restricted stock units determined by dividing (i) $225,000 by (ii) the average per share closing trading price of Company common stock over the 30 consecutive trading days ending on the last trading day preceding the grant date. The Initial Award and the Annual Award will vest in full on the earlier of the (i) first anniversary of the grant date, and (ii) immediately prior to the annual meeting of our stockholders following the date of grant, subject to continued service through the applicable vesting date.

Pursuant to the Director Compensation Program, upon a change in control transaction, all outstanding equity awards held by our non-employee directors will vest in full.

**Director Compensation Table for Fiscal Year 2025**

The following table sets forth information regarding the compensation of our non-employee directors for the year ended December 31, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Fees Earned or Paid in Cash ($)** | **Option Awards ($)** | **Stock Awards ($)**<sup>(1)</sup> | **Total ($)** |
| Zhoujia Brad Bao | 175815 |  |  | 175815 |
| Andrew Macdonald |  |  |  |  |
| Brandon Pedersen<sup>(2)</sup> | 26731 |  | 71456 | 98187 |
| James Rowan<sup>(3)(4)</sup> | 24328 |  | 61251 | 85579 |
| Sarah Smith |  |  |  |  |

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(1)Amounts reflect the full grant-date fair value of RSUs granted during 2025 computed in accordance with ASC Topic 718. We provide information regarding the assumptions used to calculate the value of all stock awards made to directors in <u>[Note 11](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> to our audited consolidated financial statements included elsewhere in this prospectus.

(2)Mr. Pedersen joined our board of directors in August 2025.

(3)Mr. Rowan joined our board of directors in September 2025.

(4)Mr. Rowan was paid 20,703 euros in 2025. The amount above reflects the conversion of his director's fees to U.S. dollars, based on an exchange rate of $1 to 0.851 euros on December 31, 2025, provided by the U.S. Department of the Treasury and Bureau of the Fiscal Service.

The table below shows the aggregate numbers of option awards (exercisable and unexercisable) and unvested stock awards held as of December 31, 2025 by our directors.

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| | | |
|:---|:---|:---|
| **Name** | **Options Outstanding at Fiscal Year End** | **Unvested Restricted Shares Outstanding at Fiscal Year End** |
| Zhoujia Brad Bao |  |  |
| Brandon Pedersen |  | 3705 |
| James Rowan |  | 3175 |
| Andrew Macdonald |  |  |
| Sarah Smith |  |  |

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**Equity Incentive Plans**

***2017 Stock Incentive Plan***

The 2017 Plan was adopted by our board of directors, effective as of February 7, 2017, with an initial reserve of 4,739 shares of our common stock available for future awards, and was amended effective as of each of March 6, 2017, July 3, 2018, October 29, 2018, November 21, 2018, January 24, 2019, February 27, 2019, November 26, 2019, May 6, 2020, February 10, 2021, February 10, 2022, December 17, 2022, March 23, 2024 and March 24, 2025. Following this offering and in connection with the effectiveness of the 2026 Plan, the 2017 Plan will terminate and no further awards will be granted under the 2017 Plan. However, all outstanding awards under the 2017 Plan will continue to be governed by their existing terms.

*Administration.* The 2017 Plan is administered by our board of directors, or a committee thereof appointed by the board of directors and composed of one or more members of board of directors. The plan administrator has the authority, in its discretion, to, among other things, (i) select the service providers to whom awards may be granted from time to time, (ii) determine whether and to what extent awards are granted, (iii) determine the number of shares of common stock or the amount of other consideration to be covered by each award, (iv) approve the forms of award agreements for use under the 2017 Plan, (v) determine all terms and conditions of awards, (vi) establish additional terms, conditions, rules, or procedures to accommodate the rules or laws of non-U.S. jurisdictions and to afford grantees favorable treatment under such rules or laws, (vii) amend the terms of any outstanding award, (viii) construe and interpret the terms of the 2017 Plan and awards thereunder and (ix) take such other action as the administrator deems appropriate and make all determinations contemplated by the 2017 Plan. Any decision made, or action taken, by the administrator or in connection with the administrator of the 2017 Plan are final, conclusive and binding on all persons having an interest in the 2017 Plan.

*Eligibility*. Our employees, consultants, directors of our parents, subsidiaries and any other entity in which we or our subsidiary holds a controlling interest through one or more intermediaries ("Related Entities") are eligible to receive awards under the 2017 Plan, provided that only employees of us or our parents or subsidiaries may be granted awards intended as incentive stock options.

*Share Reserve*. An aggregate of 14,345,224 shares of our common stock may be issued under the 2017 Plan, and up to 14,345,224 shares of common stock may be issued upon the exercise of incentive stock options. Any common stock covered by an award that is forfeited, canceled or expires is deemed not to have been issued for purposes of determining the maximum aggregate number of shares of common stock which may be issued under the 2017 Plan. If unvested shares of common stock are forfeited or repurchased by us, such shares of common stock will become available for future grant under the 2017 Plan. Any shares of common stock covered by an award which are surrendered in payment of the award exercise price or in satisfaction of tax withholding obligations related to an award will be deemed not to have been issued for purposes of determining the maximum number of shares of common stock which may be issued under the 2017 Plan, unless otherwise determined by the administrator. To the extent an award is paid out in cash rather than in shares of common stock, such cash payment will not result in reducing the number of shares of common stock available for issuance under the 2017 Plan.

*Awards*. The 2017 Plan provides that the plan administrator may grant or issue stock options, restricted stock, or restricted stock units under the 2017 Plan to eligible service providers. In general, awards granted under the 2017 Plan may not be sold or otherwise transferred except by will, in accordance with the laws of descent and distribution or, other than with respect to incentive stock options, during the lifetime of the applicable grantee, to the extent and in the manner authorized by the administrator, by gift or pursuant to a domestic relations order to members of the grantee's immediate family.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Stock Options*. Stock options may be granted to any eligible person, provided that incentive stock options may only be granted to our employees or employees of our parents, subsidiaries or

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Related Entities (as such term is defined in the 2017 Plan), subject to the 2017 Plan and such restrictions as may be determined by the plan administrator and set forth in an applicable award agreement. The exercise price of stock options granted to employees, directors or consultants will be determined by the plan administrator and set forth in an applicable award agreement; provided that such exercise price may not be less than fair market value of a share on grant date (or 110% of fair market value with respect to incentive stock options granted to employees holding 10% or more of our total combined voting power). No stock option award may have a term of more than ten years following the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock*. Restricted stock may be granted to any eligible person and made subject to such restrictions as may be determined by the plan administrator. Recipients of restricted stock, unlike recipients of options or RSUs, will generally have the right to receive dividends or other distributions paid with respect to shares of common stock, if any, prior to the time when the restrictions lapse; however, any dividends or distributions paid in shares of common stock or other property will be subject to the same restrictions on transferability and forfeitability as the shares of common stock of the restricted stocks with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock Units*. Restricted stock units may be awarded to any eligible person, subject to vesting or forfeiture conditions during the applicable restriction period(s) established by the plan administrator. Shares of common stock underlying RSUs will not be issued until the RSUs have vested, and, if provided by the plan administrator, dividends may be paid currently or credited to an account for the participant, may be settled in cash, additional restricted stock units and/or shares of common stock and may be subject to the same restrictions on transfer or forfeitability as the RSUs with respect to which the dividends are paid.

*Adjustments of Awards.* Subject to any required action by our stockholders, the number of shares of common stock covered by each outstanding award, and the number of shares of common stock which have been authorized for issuance under the 2017 Plan but as to which no awards have yet been granted or which have been returned to the 2017 Plan, the exercise price of each such outstanding award, any repurchase price that applies to shares of common stock pursuant to the terms of a repurchase right under an award agreement, as well as any other terms that the administrator determines require adjustment will be proportionately adjusted for (i) any increase or decrease in the number of issued shares of common stock resulting from a stock split, reverse stock split, stock dividend, recapitalization, combination or reclassification of the shares of common stock, or similar transaction affecting the shares of common stock, (ii) any other increase or decrease in the number of issued shares of common stock effected without receipt of consideration by us, or (iii) any other transaction with respect to common stock including a corporate merger, consolidation, acquisition of property or stock, separation (including a spin-off or other distribution of stock or property), reorganization, liquidation (whether partial or complete) or any similar transaction. In the event of a distribution of cash or other assets to stockholders other than a normal cash dividend, the administrator will also make such adjustments or substitute, exchange or grant awards to effect just adjustments. In connection with the foregoing adjustments, the administrator may, in its discretion, prohibit the exercise of stock options or other issuance of shares of common stock, cash or other consideration pursuant to awards during certain periods of time.

*Corporate Transaction*. In the event of any merger or consolidation in which we are not the surviving entity (except for a transaction the principle purpose of which is to change the state in which we are incorporated), the sale, transfer or other disposition of all or substantially all of our assets, the complete liquidation or dissolution of us, any reverse merger or series of related transactions culminating in a reverse merger in which we are the surviving entity (but the shares of common stock outstanding immediately prior to such merger are converted or exchanged by virtue of the merger into other property or in which securities possessing more than fifty percent of the total combined voting power of our outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger), the acquisition by any person or related group of persons of beneficial ownership of securities possessing more than fifty percent of the total combined voting power of our outstanding securities, or a change in

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control of us, each outstanding award will be treated as the administrator determines in its discretion including that (i) the awards will be assumed or substantially equivalent awards will be substituted by the acquiring or succeeding entity with appropriate adjustments as to the number and kind of shares, exercise prices and purchase prices, (ii) upon written notice to the a participant, the award will terminate upon or immediately prior to the consummation of such transaction, (iii) outstanding awards will vest and become exercisable, realizable, payable, settled or restrictions will lapse, in whole or in part prior to or upon consummation of such transaction, and to the event administrator determines, terminate upon or immediately prior to the effectiveness of such transaction, (iv) an award will be terminated in exchange for an amount of cash and/or property equal to the amount that would have been attained upon the exercise of such award or realization or settlement of the participant's rights as of the date of the occurrence of the transaction, the replacement of such award with other rights or property selected by the administrator in its sole discretion, or (v) any combination or none of the foregoing.

*Amendment and Termination.* The board of members may amend, suspend or terminate the 2017 Plan at any time (subject to stockholder approval if required in accordance with the 2017 Plan) provided that no amendment of the 2017 Plan will adversely affect any outstanding award without the consent of the affected participant.

***2026 Incentive Award Plan***

In connection with this offering, our board of directors have adopted, and our stockholders have approved, the 2026 Plan, which will become effective on the date immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part. Under the 2026 Plan, we may grant cash and equity incentive awards to eligible service providers in order to attract, motivate and retain the talent for which we compete.

*Eligibility and Administration.* Our employees, consultants and directors, and employees, consultants and directors of our subsidiaries will be eligible to receive awards under the 2026 Plan. Following our initial public offering, the 2026 Plan will be administered by our board of directors with respect to awards to non-employee directors and by our compensation committee with respect to other participants, each of which may delegate its duties and responsibilities to committees of our directors and/or officers (referred to collectively as the plan administrator below), subject to certain limitations that may be imposed under Section 16 of the Exchange Act, and/or stock exchange rules, as applicable. The plan administrator will have the authority to make all determinations and interpretations under, determine eligibility to participate in, and adopt rules for the administration of, the 2026 Plan, subject to its express terms and conditions. The plan administrator will also set the terms and conditions of all awards under the 2026 Plan, including any vesting and vesting acceleration conditions.

*Limitation on Awards and Shares Available.* An aggregate maximum number of shares of our common stock equal to 10% of the outstanding shares of common stock at the completion of the initial public offering, exclusive of the underwriters' option to purchase additional shares, will be available for issuance under awards granted pursuant to the 2026 Plan, which shares may be authorized but unissued shares, or shares purchased by us in the open market (the "Initial Reserve"). The number of shares available for issuance will be increased by (i) the number of shares available under the 2017 Plan and the number of shares represented by awards outstanding under our 2017 Plan that expire, lapse or are terminated, exchanged for or settled in cash, surrendered, repurchased, cancelled without having been issued in full or forfeited following the effective date of the 2026 Plan, and (ii) an annual increase on the first day of each calendar year beginning January 1, 2027 and ending on and including January 1, 2036, equal to the lesser of (A) 5% of the aggregate number of shares of common stock outstanding on the final day of the immediately preceding calendar year and (B) such smaller number of shares as is determined by our board of directors; provided, however, that no more than a number of shares of stock equal to 300% of the Initial Reserve may be issued upon the exercise of incentive stock options ("ISOs").

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The following counting provisions will be in effect for the share reserve under the 2026 Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent that an award (including an award under the 2017 Plan, or a Prior Plan Award) terminates, expires or lapses for any reason or an award is settled in cash without the delivery of shares, any shares subject to the award at such time will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent shares are tendered or withheld to satisfy the grant, exercise price or tax withholding obligation with respect to any award under the 2026 Plan or Prior Plan Award, such tendered or withheld shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent shares subject to SARs are not issued in connection with the stock settlement of SARs on exercise thereof, such shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent that shares of our common stock are repurchased by us prior to vesting so that shares are returned to us, such shares will be available for future grants under the 2026 Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the payment of dividend equivalents in cash in conjunction with any outstanding awards or Prior Plan Awards will not be counted against the shares available for issuance under the 2026 Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the extent permitted by applicable law or any exchange rule, shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by us or any of our subsidiaries will not be counted against the shares available for issuance under the 2026 Plan.

The 2026 Plan provides that, commencing with the calendar year following the calendar year in which the effective date of the 2026 Plan occurs, the sum of any cash compensation and the aggregate grant date fair value (determined as of the date of the grant under ASC Topic 718, or any successor thereto) of all awards granted to a non-employee director as compensation for services as a non-employee director during any calendar year may not exceed the amount equal to $1,000,000 for the non-employee director's first year of service and $750,000 for each year of the non-employee director's service thereafter.

*Awards.* The 2026 Plan provides for the grant of stock options, including ISOs, nonqualified stock options ("NSOs"), restricted stock, restricted stock units, performance shares, other incentive awards, stock appreciation rights ("SARs"), and cash awards. No determination has been made as to the types or amounts of awards that will be granted to specific individuals pursuant to the 2026 Plan. Certain awards under the 2026 Plan may constitute or provide for a deferral of compensation, subject to Section 409A of the Code, which may impose additional requirements on the terms and conditions of such awards. All awards under the 2026 Plan will be set forth in award agreements, which will detail all terms and conditions of the awards, including any applicable vesting and payment terms and post-termination exercise limitations. Awards other than cash awards generally will be settled in shares of our common stock, but the plan administrator may provide for cash settlement of any award. A brief description of each award type follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Stock Options*. Stock options provide for the purchase of shares of our common stock in the future at an exercise price set on the grant date. Incentive stock options, by contrast to NSOs, may provide tax deferral beyond exercise and favorable capital gains tax treatment to their holders if certain holding period and other requirements of the Code are satisfied. The exercise price of a stock option may not be less than 100% of the fair market value of the underlying share on the date of grant (or 110% in the case of incentive stock options granted to employees holding 10% or more of our total combined voting power), except with respect to certain substitute options granted in connection with a corporate transaction. The term of a stock option may not be longer than ten years (or five years in the case of incentive stock options granted to employees holding 10% or more of our total combined voting power). Vesting conditions determined by the plan

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administrator may apply to stock options and may include continued service, performance and/or other conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SARs*. SARs entitle their holder, upon exercise, to receive from us an amount equal to the appreciation of the shares subject to the award between the grant date and the exercise date. The exercise price of a SAR may not be less than 100% of the fair market value of the underlying share on the date of grant (except with respect to certain substitute SARs granted in connection with a corporate transaction) and the term of a SAR may not be longer than ten years. Vesting conditions determined by the plan administrator may apply to SARs and may include continued service, performance and/or other conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restricted Stock and Restricted Stock Units*. Restricted stock is an award of nontransferable shares of our common stock that remain forfeitable unless and until specified conditions are met, and which may be subject to a purchase price. Restricted stock units are contractual promises to deliver shares of our common stock in the future, which may also remain forfeitable unless and until specified conditions are met. Delivery of the shares underlying restricted stock units may be deferred under the terms of the award or at the election of the participant, if the plan administrator permits such a deferral. Conditions applicable to restricted stock and restricted stock units may be based on continuing service, the attainment of performance goals and/or such other conditions as the plan administrator may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Other Stock or Cash Based Awards*. Other stock or cash based awards of cash, fully vested shares of our common stock and other awards valued wholly or partially by referring to, or otherwise based on, shares of our common stock. Other stock or cash based awards may be granted to participants and may also be available as a payment form in the settlement of other awards, as standalone payments and as payment in lieu of base salary, bonus, fees or other cash compensation otherwise payable to any individual who is eligible to receive awards.

Any award may be granted as a performance award, meaning that the award will be subject to vesting and/or payment based on the attainment of specified performance goals.

*Certain Transactions.* The plan administrator has broad discretion to take action under the 2026 Plan, as well as make adjustments to the terms and conditions of existing and future awards, to prevent the dilution or enlargement of intended benefits and facilitate necessary or desirable changes in the event of certain transactions and events affecting our common stock, such as stock dividends, stock splits, mergers, acquisitions, consolidations and other corporate transactions. In addition, in the event of certain non-reciprocal transactions with our stockholders known as "equity restructurings," the plan administrator will make equitable adjustments to the 2026 Plan and outstanding awards. Upon or in anticipation of a change of control, the plan administrator may cause any outstanding awards to terminate at a specified time in the future and give the participant the right to exercise such awards during a period of time determined by the plan administrator in its sole discretion. Individual award agreements may provide for additional accelerated vesting and payment provisions.

*Foreign Participants, Claw-Back Provisions, Transferability, and Participant Payments.* The plan administrator may modify award terms, establish subplans and/or adjust other terms and conditions of awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or stock exchange rules of countries outside of the United States. All awards will be subject to the provisions of any clawback policy implemented by us to the extent set forth in such clawback policy and/or in the applicable award agreement. With limited exceptions for estate planning, domestic relations orders, certain beneficiary designations and the laws of descent and distribution, awards under the 2026 Plan are generally non-transferable prior to vesting, and are exercisable only by the participant. With regard to tax withholding, exercise price and purchase price obligations arising in connection with awards under the 2026 Plan, the plan administrator may, in its discretion, accept cash or check, shares of our common stock that meet specified conditions, a "market sell order" or such other consideration as it deems suitable.

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*Plan Amendment and Termination.* Our board of directors may amend or terminate the 2026 Plan at any time; however, except in connection with certain changes in our capital structure, stockholder approval will be required for any amendment that increases the number of shares available under the 2026 Plan. Stockholder approval is not required for any amendment that "reprices" any stock option or SAR, or cancels any stock option or SAR in exchange for cash or another award when the option or SAR price per share exceeds the fair market value of the underlying shares. No incentive stock options may be granted pursuant to the 2026 Plan after the tenth anniversary of the effective date of the 2026 Plan, and no additional annual share increases to the 2026 Plan's aggregate share limit will occur from and after such anniversary. Any award that is outstanding on the termination date of the 2026 Plan will remain in force according to the terms of the 2026 Plan and the applicable award agreement.

***2026 Employee Stock Purchase Plan***

In connection with the offering, our board of directors have adopted, and our stockholders have approved, the ESPP, which which will become effective on the date immediately prior to the date of effectiveness of the registration statement of which this prospectus forms a part.

*Components.* The ESPP is comprised of two distinct components in order to provide increased flexibility to grant options to purchase shares under the ESPP to U.S. and to non-U.S. employees. Specifically, the ESPP authorizes (1) the grant of options to U.S. employees that are intended to qualify for favorable U.S. federal tax treatment under Section 423 of the Code, (the "Section 423 Component"), and (2) the grant of options that are not intended to be tax-qualified under Section 423 of the Code to facilitate participation for employees located outside of the United States who do not benefit from favorable U.S. tax treatment and to provide flexibility to comply with non-U.S. law and other considerations (the "Non-Section 423 Component"). Where possible under local law and custom, we expect that the Non-Section 423 Component generally will be operated and administered on terms and conditions similar to the Section 423 Component.

*Administration.* Subject to the terms and conditions of the ESPP, our compensation committee will administer the ESPP. Our compensation committee can delegate administrative tasks under the ESPP to the services of an agent and/or employees to assist in the administration of the ESPP. The administrator will have the discretionary authority to administer and interpret the ESPP. Interpretations and constructions by the administrator of any provision of the ESPP or of any rights thereunder will be conclusive and binding on all persons. We will bear all expenses and liabilities incurred by the ESPP administrator.

*Share Reserve.* The maximum number of shares of our common stock which will be authorized for sale under the ESPP is equal to the sum of (a) 1% of the number of fully diluted outstanding shares of common stock (the "Initial ESPP Reserve") and (b) an annual increase on the first day of each fiscal year beginning in fiscal year 2027 and ending in fiscal year 2036, equal to the lesser of (i) 1% of the shares of our common stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (ii) such number of shares of common stock as determined by our board of directors; provided, however, no more than a number of shares of our common stock equal to 300% of the Initial ESPP Reserve may be issued under the ESPP. The shares reserved for issuance under the ESPP may be authorized but unissued shares or reacquired shares.

*Eligibility.* Employees eligible to participate in the ESPP for a given offering period generally include employees who are employed by us or one of our subsidiaries on the first day of the offering period, or the enrollment date. Our employees (and, if applicable, any employees of our subsidiaries) who customarily work less than five months in a calendar year or are customarily scheduled to work less than 20 hours per week will not be eligible to participate in the ESPP. Finally, an employee who owns (or is deemed to own through attribution) 5% or more of the combined voting power or value of all our classes of stock or of one of our subsidiaries will not be allowed to participate in the ESPP.

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*Participation*. Employees will enroll under the ESPP by completing a payroll deduction form permitting the deduction from their compensation of at least 1% of their compensation but not more than 15% of their compensation. Such payroll deductions may be expressed as a whole number percentage, and the accumulated deductions will be applied to the purchase of shares on each purchase date. However, a participant may not purchase more than 2,000 shares in each offering period and no participant in the Section 423 Component may subscribe for more than $25,000 in fair market value of shares of our common stock (determined at the time the option is granted) during any calendar year. The ESPP administrator has the authority to change these limitations for any offering period. Notwithstanding the foregoing, a participant may be granted rights under the ESPP only if such rights, together with any other rights granted to such participant under our "employee stock purchase plans", any parent or any subsidiary, as specified by Section 423(b)(8) of the Code, do not permit such participant's rights to purchase our stock or any parent or subsidiary thereof to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of the first day of the offering period during which such rights are granted) in accordance with Section 423(b)(8) of the Code.

*Offering.* Under the ESPP, participants are offered the option to purchase shares of our common stock at a discount during a series of successive offering periods, the duration and timing of which will be determined by the ESPP administrator. However, in no event may an offering period be longer than 27 months in length. The option purchase price will be set forth in the offering document but shall not be lower than either 85% of the closing trading price per share of our common stock on the first trading date of an offering period in which a participant is enrolled or 85% of the closing trading price per share on the purchase date.

Unless a participant has previously canceled his or her participation in the ESPP before the purchase date, the participant will be deemed to have exercised his or her option in full as of each purchase date. Upon exercise, the participant will purchase the number of whole shares that his or her accumulated payroll deductions will buy at the option purchase price, subject to the participation limitations listed above.

A participant may cancel his or her payroll deduction authorization at any time prior to the end of the offering period. Upon cancellation, the participant will have the option to either (i) receive a refund of the participant's account balance in cash without interest or (ii) exercise the participant's option for the current offering period for the maximum number of shares of common stock on the applicable purchase date, with the remaining account balance refunded in cash without interest. Following at least one payroll deduction, a participant may also decrease (but not increase) his or her payroll deduction authorization once during any offering period. If a participant wants to increase or decrease the rate of payroll withholding, he or she may do so effective for the next offering period by submitting a new form before the offering period for which such change is to be effective.

A participant may not assign, transfer, pledge or otherwise dispose of (other than by will or the laws of descent and distribution) payroll deductions credited to a participant's account or any rights to exercise an option or to receive shares of our common stock under the ESPP, and during a participant's lifetime, options in the ESPP shall be exercisable only by such participant. Any such attempt at assignment, transfer, pledge or other disposition will not be given effect.

*Adjustments upon Changes in Recapitalization, Dissolution, Liquidation, Merger or Asset Sale*. In the event of any increase or decrease in the number of issued shares of our common stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the common stock, or any other increase or decrease in the number of shares of common stock effected without receipt of consideration by us, we will proportionately adjust the aggregate number of shares of our common stock offered under the ESPP, the number and price of shares which any participant has elected to purchase under the ESPP and the maximum number of shares which a participant may elect to purchase in any single offering period. If there is a proposal to dissolve or liquidate us, then the ESPP will terminate immediately prior to the consummation of such proposed dissolution or liquidation, and any offering period then in progress will be shortened by setting a new purchase date to take place before the date of

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our dissolution or liquidation. We will notify each participant of such change in writing at least ten business days prior to the new purchase date. If we undergo a merger with or into another corporation or sell all or substantially all of our assets, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or the parent or subsidiary of the successor corporation. If the successor corporation refuses to assume the outstanding options or substitute equivalent options, then any offering period then in progress will be shortened by setting a new purchase date to take place before the date of our proposed sale or merger. We will notify each participant of such change in writing at least ten business days prior to the new exercise date.

*Amendment and Termination*. Our board of directors may amend, suspend or terminate the ESPP at any time. However, the board of directors may not amend the ESPP without obtaining stockholder approval within 12 months before or after such amendment to the extent required by applicable laws.

**Clawback Policy**

In connection with this offering, we have adopted a Policy for Recovery of Erroneously Awarded Compensation (the "Clawback Policy"), applicable to our current and former executive officers, as defined in Exchange Act Rule 10D-1(d), in accordance with SEC rules and the applicable Nasdaq listing standards. This Clawback Policy applies to incentive-based compensation that is granted, earned, or vested wholly or in part upon attainment of one or more financial reporting measures (each, "Financial Reporting Measure") that is received by an executive officer (1) after beginning service as an executive officer, (2) who served as an executive officer at any time during the performance period for that compensation, and (3) during the three completed fiscal years immediately preceding the date on which we conclude, or reasonably should have concluded, that we are required to prepare a restatement with respect to any such Financial Reporting Measure. The Clawback Policy provides that, in the event of a restatement of our financial statements due to material noncompliance with financial reporting requirements, the administrator of the Clawback Policy will recover (subject to limited exceptions) the amount (as determined on a pre-tax basis) of incentive-based compensation erroneously received by an executive officer (i.e., in the event that the amount of such compensation was calculated based on the achievement of certain financial results that were subsequently revised due to the restatement, and the amount of the incentive-based compensation that would have been earned by such executive officer had the financial results been properly reported would have been lower than the amount actually paid).

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**CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS**

The following includes a summary of transactions since January 1, 2023 and any currently proposed transactions, to which we were or are to be a participant, in which (i) the amount involved exceeded or will exceed $120,000; and (ii) any of our directors, executive officers or holders of more than 5% of our capital stock, or any affiliate or member of the immediate family of the foregoing persons or entities, had or will have a direct or indirect material interest, other than compensation and other arrangements that are described under the section titled "Executive and Director Compensation."

We believe the terms obtained or consideration that we paid or received, as applicable, in connection with the transactions described below were comparable to terms available or the amounts that we would pay or receive, as applicable, in arm's-length transactions.

**Investors' Rights Agreement**

We are party to an investors' rights agreement which provides, among other things, certain holders of our capital stock, including Uber, entities affiliated with Andreessen Horowitz, entities affiliated with Fidelity, and Sapphire Direct Holdings RSC Ltd. ("Sapphire"), all of which hold more than 5% of our outstanding capital stock, with the right to demand that we file a registration statement or request that their shares of our capital stock be included on a registration statement that we are otherwise filing. See the section titled "Description of Securities—Registration Rights" for more information regarding these registration rights.

**Right of First Refusal**

Pursuant to certain of our equity compensation plans and certain agreements with our stockholders, including a right of first refusal and co-sale agreement with certain holders of our capital stock, including Uber, entities affiliated with Andreessen Horowitz, entities affiliated with Fidelity, and Sapphire, all of which hold more than 5% of our outstanding capital stock, Mr. Bao, our cofounder and member of our board of directors, and Mr. Kraus, our former President, we or our assignees have a right to purchase shares of our capital stock which certain stockholders propose to sell to other parties. This right under the right of first refusal and co-sale agreement will terminate upon the effectiveness of the registration statement of which this prospectus forms a part.

Since January 1, 2023, we have not exercised our right of first refusal in connection with secondary sales of shares of our capital stock, including sales by certain of our executive officers or holders of more than 5% of our outstanding capital stock. 

**Voting Agreement**

We are party to a voting agreement under which certain holders of our capital stock, including Uber, entities affiliated with Andreessen Horowitz, entities affiliated with Fidelity, and Sapphire, all of which hold more than 5% of our outstanding capital stock, have agreed as to the manner in which they will vote their shares of our capital stock on certain matters, including with respect to the election of directors. Upon the effectiveness of the registration statement of which this prospectus forms a part, the voting agreement will terminate and none of our stockholders will have any special rights regarding the election or designation of members of our board of directors.

**Uber Integration Agreement**

We are a party to a license and integration agreement with Uber (the "Uber Integration Agreement"), which holds more than 5% of our outstanding capital stock, pursuant to which Uber agreed to allow riders to access our e-scooters and e-bikes through mobile applications distributed by Uber and its subsidiaries. We receive revenue for these bookings and pay a service fee to Uber in exchange. During the years ended December 31, 2023, 2024 and 2025 and the three months ended March 31, 2026, we received revenue of $73.5 million, $108.2 million, $126.6 million, and $23.8 million, respectively, and paid service

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fees to Uber of $4.4 million, $12.5 million, $15.0 million, and $2.6 million, respectively, pursuant to the integration agreement.

**Uber Lock-Up**

In connection with the Uber Integration Agreement, we entered into a lock-up side letter with Uber on October 4, 2023, as amended on June 21, 2026 (referred to as the Uber Lock-Up), pursuant to which, Uber agreed, among other things, that it will not, without our prior written consent, subject to certain customary exceptions: lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right, or warrant to purchase, or transfer or dispose of, directly or indirectly, (i) any shares of our common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for our common stock held by Uber immediately prior to the date of this prospectus (the "Uber Shares") for one year following the date of this prospectus ("Uber First Lock-Up Expiration Date"), (ii) for the period commencing on the Uber First Lock-Up Expiration Date and ending on the date that is eighteen months after the date of this prospectus ("Uber Second Lock-Up Expiration Date"), more than 50% of the Uber Shares in the aggregate, and (iii) for the period commencing on the Uber Second Lock-Up Expiration Date and ending on the date that is two years after the date of this prospectus, more than 75% of the Uber Shares in the aggregate. The restrictions in the side letter shall terminate on the earliest to occur of: (i) the date that is two years after the date of this prospectus, (ii) the termination of the Uber Integration Agreement, or (iii) immediately prior to the closing of certain liquidation events under our current certificate of incorporation. The Uber Lock-Up does not apply to any shares purchased by Uber in this offering.

**2020 Notes**

From May through June 2020, we issued the 2020 Notes (as defined below) pursuant to a note purchase agreement or a note and warrant purchase agreement, as applicable, in the aggregate principal amount of approximately $170.0 million, of which an aggregate principal amount of $85.0 million was issued to Uber (the "2020 Uber Note"), which holds more than 5% of our outstanding capital stock, an aggregate principal amount of $14.3 million was issued to certain entities affiliated with Andreessen Horowitz (the "2020 a16z Notes"), which hold more than 5% of our outstanding capital stock, and an aggregate principal amount of $17.0 million was issued to certain entities affiliated with Fidelity (the "2020 Fidelity Notes"), which hold more than 5% of our outstanding capital stock. The 2020 Notes accrue non-compounding interest at a rate of 4.0% per annum and mature seven years following the date of issuance, unless earlier converted pursuant to their terms.

During each of the years ended December 31, 2023, 2024 and 2025, the 2020 Uber Note, the 2020 a16z Notes, and the 2020 Fidelity Notes accrued interest in the amounts of $3.4 million, $0.6 million, and $0.7 million, respectively. During the three months ended March 31, 2026, the 2020 Uber Note, the 2020 a16z Notes, and the 2020 Fidelity Notes accrued interest in the amounts of $0.9 million, $0.1 million, and $0.2 million, respectively. As of March 31, 2026, the outstanding aggregate principal amount of the 2020 Uber Note, the 2020 a16z Notes, and the 2020 Fidelity Notes was $85.0 million, $14.3 million, and $17.0 million, respectively. See the section titled "Description of Securities—2020 Notes" for additional information.

**2021 Notes**

Between October and November 2021, we issued the 2021 Notes pursuant to a note purchase agreement (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "2021 NPA"), in the aggregate principal amount of $417.6 million to certain investors, of which an aggregate principal amount of $50.0 million was issued to Uber (the "2021 Uber Note"), an aggregate principal amount of $150.0 million was issued to an entity affiliated with Sapphire (the "2021 Sapphire Note"), and an aggregate principal amount of $75.0 million was issued to certain entities affiliated with Fidelity (the "2021 Fidelity Notes"). The 2021 Notes, as amended, mature five years following the date of issuance, unless earlier converted pursuant to their terms. The 2021 Notes initially

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accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by an additional 1.0% in October 2023 and by 1.0% every six months thereafter, up to a maximum rate of 8.0%. As of March 31, 2026, the interest rate on the 2021 Notes was 8.0%. Interest accrued is payable semi-annually in arrears commencing in October 2022, at our election, either by adding such accrued interest amount to the outstanding principal amount of the 2021 Notes (such addition, a "PIK interest payment") or in the form of cash.

To date, we have elected to pay the interest accrued in the form of PIK interest payments. During the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, the 2021 Uber Note accrued interest in the amount of $2.3 million, $3.6 million, $4.6 million, and $2.1 million, respectively. During the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, the 2021 Sapphire Note accrued interest in the amount of $7.1 million, $10.6 million, $14.0 million, and $6.3 million, respectively. During the years ended December 31, 2023, 2024, and 2025 and the three months ended March 31, 2026, the 2021 Fidelity Notes accrued interest in the amount of $3.6 million, $5.3 million, $7.0 million, and $3.1 million, respectively. As of March 31, 2026, the outstanding aggregate principal amount of the 2021 Uber Note, the 2021 Sapphire Note, and the 2021 Fidelity Notes was $50.0 million, $150.0 million, and $75.0 million, respectively, exclusive of any PIK interest payments. See the section titled "Description of Securities—2021 Notes" for additional information.

**Senior Secured Term Loan and Uber Guaranty**

On October 5, 2023, we entered into a credit agreement (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "Credit Agreement") with the lenders party thereto, Alter Domus (US) LLC, as administrative agent, and Diameter Finance Administration LLC, as collateral agent, providing for a senior secured term loan (the "Senior Secured Term Loan") in an aggregate principal amount of $115.0 million. The Senior Secured Term Loan bears interest at a fixed rate of 10.00% per annum, payable quarterly in arrears in cash. All outstanding principal amounts and accrued but unpaid interest is due on September 30, 2026, unless earlier repaid or accelerated pursuant to the terms of the Credit Agreement. The Senior Secured Term Loan is secured by substantially all of our assets.

On October 5, 2023, in connection with the Credit Agreement, Uber, which holds more than 5% of our outstanding capital stock, entered into a guaranty agreement (the "Uber Guaranty") with us to serve as guarantor for the benefit of the lenders under the Senior Secured Term Loan. Under the Uber Guaranty, Uber irrevocably guaranteed the full payment of our obligations under the Credit Agreement when due, whether at stated maturity or by acceleration, up to a maximum aggregate amount of $125.0 million. The Uber Guaranty is a guaranty of payment, not of collection, meaning the lenders under the Senior Secured Term Loan are not required to first seek payment from us before enforcing the Uber Guaranty.

Uber is not a loan party or guarantor under the Credit Agreement and is not subject to the covenants, representations, or obligations of the Credit Agreement, except as provided in the Uber Guaranty itself. Uber waived certain rights, such as notice of default, demand for payment and defenses, that might otherwise discharge its obligations. Uber also agreed not to exercise subrogation rights against us until all obligations are paid in full.

The Uber Guaranty will remain in effect until the Senior Secured Term Loan is repaid in full. As of March 31, 2026, we had an aggregate principal amount of $115.0 million outstanding under the Senior Secured Term Loan. We expect to use net proceeds from this offering to repay all indebtedness outstanding under the Senior Secured Term Loan as described in the section titled "Use of Proceeds," at which point the Uber Guaranty will be terminated.

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**Partial Recourse Promissory Notes**

We have entered into partial recourse promissory notes and pledge agreements with certain of our executive officers and directors in connection with the exercises of stock options held by such executive officers and directors and the remittance of applicable exercise prices.

On October 19, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $0.6 million to Mr. Ting, our Chief Executive Officer, in connection with his exercise of a stock option to purchase 11,904 shares of common stock at an exercise price per share of $52.89. As of February 27, 2026, Mr. Ting repaid in cash the outstanding aggregate principal amount and accrued interest on this note.

On September 15, 2020, we issued a partial recourse promissory note in the aggregate principal amount of $1.2 million to Mr. Ting in connection with his exercise of a stock option to purchase 225,217 shares of common stock at an exercise price per share of $5.24. As of March 13, 2026, this note was partially repaid and, on March 16, 2026, the remaining balance of $889,650 was fully repaid by our repurchase of 23,266 shares of Mr. Ting's common stock (which shares are not the collateral shares underlying the promissory note) at the fair market value of our common stock as of March 16, 2026 (for an aggregate repurchase price of $889,650).

On November 2, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $1.8 million to Mr. Kraus, our former President, in connection with his exercise of a stock option to purchase 34,187 shares of common stock at an exercise price per share of $52.89. On November 2, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $8.6 million to Mr. Kraus in connection with his exercise of a stock option to purchase 161,887 shares of common stock at an exercise price per share of $52.89 (together, the "Kraus Notes"). Interest on the Kraus Notes compounded annually and repayment of each of the Kraus Notes was secured by a pledge agreement. As of March 13, 2026, the outstanding principal and unpaid accrued interest under the Kraus Notes totaled $11,349,487. To effectuate Mr. Kraus' repayment of the Kraus Notes, we repurchased 196,074 shares of his common stock at the fair market value of our common stock as of March 13, 2026 (for an aggregate purchase price of $7,498,263) and forgave the remaining balance of $3,852,224 of the Kraus Notes.

On November 4, 2018, we issued a partial recourse promissory note in the aggregate principal amount of $11.8 million to Mr. Bao, our co-founder and member of the board of directors, in connection with his exercise of a stock option to purchase 223,214 shares of common stock at an exercise price per share of $52.89. As of March 13, 2026, the interest rate on the note was 3.81%, the outstanding aggregate principal amount of the note was $11.8 million and total accrued and unpaid interest was approximately $1.0 million. Interest on the note compounded annually. Repayment of the note was secured by a pledge agreement. To effectuate Mr. Bao's repayment of the note, we repurchased 127,523 shares of his common stock at the fair market value of our common stock as of March 13, 2026 (for an aggregate purchase price of $4,876,106).

**Participation in this Offering**

Entities affiliated with Uber have indicated an interest in purchasing up to an aggregate of $20.0 million in shares of our common stock in this offering at the initial public offering price and on the same terms and conditions as the other purchasers in this offering. Uber will be subject to a lock-up agreement with the underwriters and the Uber Lock-Up, each of which contains restrictions on sales and/or other transfers on shares beneficially held by Uber. See the sections titled "Certain Relationships and Related-Party Transactions—Uber Lock-Up" and "Underwriting" for additional information. Because this indication of interest is not a binding agreement or commitment to purchase, entities affiliated with Uber may determine to purchase more, fewer, or no shares in this offering, or the underwriters may determine to sell more, fewer, or no shares to entities affiliated with Uber.

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**Other Transactions**

We have entered into offer letter agreements with our executive officers that, among other things, provide for certain compensatory and change in control benefits. For a description of these agreements with our named executive officers, see the section titled "Executive and Director Compensation—Executive Compensation Arrangements."

We have also granted stock options, RSUs and restricted stock to our executive officers and certain of our directors. For a description of these equity awards, see the section titled "Executive and Director Compensation—Equity Compensation."

**Director and Officer Indemnification**

We have entered into indemnification agreements with certain of our current executive officers and directors, and intend to enter into new indemnification agreements with each of our current executive officers and directors before the completion of this offering.

Our amended and restated certificate of incorporation also provides that, to the fullest extent permitted by law, we will indemnify any officer or director of our company against all damages, claims, and liabilities arising out of the fact that the person is or was our officer or director, or served any other enterprise at our request as an officer or director. Amending this provision will not reduce our indemnification obligations relating to actions taken before an amendment.

**Related Person Transaction Policy**

We have a written related person transaction policy, to be effective upon the completion of this offering, that applies to our executive officers, directors, director nominees, holders of more than 5% of any class of our voting securities and any member of the immediate family of, and any entity affiliated with, any of the foregoing persons. Such persons will not be permitted to enter into a related person transaction with us without the prior consent of our audit committee, or other independent members of our board of directors in the event it is inappropriate for our audit committee to review such transaction due to a conflict of interest. Any request for us to enter into a transaction with an executive officer, director, director nominee, principal stockholder, or any of their immediate family members or affiliates, in which the amount involved exceeds $120,000 must first be presented to our audit committee for review, consideration, and approval. In approving or rejecting any such proposal, our audit committee will consider the relevant facts and circumstances available and deemed relevant to our audit committee, including, but not limited to, the commercial reasonableness of the terms of the transaction and the materiality and character of the related person's direct or indirect interest in the transaction. All of the transactions described in this section occurred prior to the adoption of this policy.

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**PRINCIPAL AND SELLING STOCKHOLDERS**

The following table contains information about the beneficial ownership of our common stock as of May 31, 2026, and as adjusted to reflect the sale of shares of our common stock offered by this prospectus by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our named executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all executive officers and directors as a group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each person, or group of persons, known to us who beneficially owns more than 5% of our capital stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of the selling stockholders.

We have based percentage ownership of our common stock before this offering on 57,482,800 shares of our common stock outstanding as of May 31, 2026, which reflects the Transactions as if the Transactions had occurred as of May 31, 2026 (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus).

We have based percentage ownership of our common stock after this offering, assuming the foregoing, our sale of 6,679,791 shares of common stock in this offering, the sale of 276,731 shares of common stock by the selling stockholders, and no exercise by the underwriters of their option to purchase additional shares of common stock from us.

In accordance with the rules of the SEC, beneficial ownership includes voting or investment power with respect to securities and includes the shares issuable pursuant to stock options or warrants that are exercisable within 60 days of May 31, 2026 or RSUs that are expected to vest within 60 days of May 31, 2026. The following table does not give effect to any net exercise or net settlement. The exact number of shares of our common stock that will be withheld from a stockholder in connection with the RSU Settlement may differ based on the stockholder's personal tax rates. Shares issuable pursuant to stock options, warrants, and RSUs are deemed outstanding for computing the percentage of the person holding such options, warrants, or RSUs but are not outstanding for computing the percentage of any other person.

The table below excludes any purchases that may be made in this offering, including pursuant to any indication of interest as described under the section titled "Underwriting—Indication of Interest."

For further information regarding material transactions between us and certain of our stockholders, see the section titled "Certain Relationships and Related-Party Transactions." Unless otherwise indicated, the address for each listed stockholder is: c/o Neutron Holdings, Inc., 444 Townsend Street, First Floor, San Francisco, California 94107. Except as indicated in the footnotes to the following table or pursuant to applicable community property laws, we believe, based on information furnished to us, that each

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stockholder named in the table has sole voting and investment power with respect to the shares set forth opposite such stockholder's name.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Beneficially Owned Before this Offering** | **Shares Beneficially Owned Before this Offering** | **Number of Shares<br>to be Sold in the<br>Offering** | **Shares Beneficially Owned After this Offering** | **Shares Beneficially Owned After this Offering** |
|<br>**Name of Beneficial Owner** | **Shares** | **%** | | **Shares** | **%** |
| **Named Executive Officers and Directors**: | | | | | |
| Wayne Ting<sup>(1)</sup> | 1315456 | 2.2% | 99115 | 1216341 | 1.9% |
| Joseph Kraus<sup>(2)</sup> | 554707 | \* | 47137 | 507570 | \* |
| Ann Gugino<sup>(3)</sup> | 224616 | \* |  | 224616 | \* |
| Zhoujia Brad Bao<sup>(4)</sup> | 1005331 | 1.7% | 73397 | 931934 | 1.5% |
| Elizabeth Hamren |  |  |  |  |  |
| Andrew Macdonald |  |  |  |  |  |
| Brandon Pedersen |  |  |  |  |  |
| James Rowan |  |  |  |  |  |
| Sarah Smith |  |  |  |  |  |
| All executive officers and directors as a group (9 persons)<sup>(5)</sup> | 3100110 | 5.3% | 219649 | 2880461 | 4.4% |
| **5% or Greater Stockholders**: |  |  |  |  |  |
| Uber<sup>(6)</sup> | 14021438 | 24.4% |  | 14021438 | 21.9% |
| Entities affiliated with Andreessen Horowitz<sup>(7)</sup> | 2872018 | 5.0% |  | 2872018 | 4.5% |
| Entities affiliated with Fidelity<sup>(8)</sup> | 6621407 | 11.5% |  | 6621407 | 10.3% |
| Entities affiliated with Sapphire<sup>(9)</sup> | 9751385 | 17.0% |  | 9751385 | 15.2% |
| **Other Selling Stockholders:** |  |  |  |  |  |
| Other selling stockholders that beneficially own less than 50,000 shares of common stock<sup>(10)</sup> | 287841 | \* | 27488 | 260353 | \* |
| Other selling stockholders that beneficially own between 50,000 and 300,000 shares of common stock<sup>(10)</sup> | 354911 | \* | 29594 | 325317 | \* |

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∗Represents beneficial ownership of less than 1%.

(1)Represents (i) 225,217 shares of common stock held by Mr. Ting; (ii) 1,013,839 shares of common stock issuable to Mr. Ting pursuant to outstanding stock options that are exercisable within 60 days of May 31, 2026; and (iii) 76,400 shares of common stock issuable to Mr. Ting upon the settlement of RSUs for which the service-based vesting condition would be satisfied within 60 days of May 31, 2026 and the liquidity-based vesting condition will be satisfied upon the completion of this offering (of which 42,020 shares of common stock are expected to be issued after giving effect to the RSU Settlement, assuming a 45% tax withholding rate).

(2)Represents (i) 309,808 shares of common stock held by Mr. Kraus; (ii) 62,646 shares of common stock issuable to Mr. Kraus pursuant to outstanding stock options that are exercisable within 60 days of May 31, 2026; (iii) 18,601 shares of common stock issuable to Mr. Kraus upon the settlement of RSUs for which the service-based vesting condition would be satisfied within 60 days of May 31, 2026 and the liquidity-based vesting condition will be satisfied upon the completion of this offering (of which 10,231 shares of common stock are expected to be issued after giving effect to the RSU Settlement, assuming a 45% tax withholding rate); (iv) 88,136 shares of common stock held in certain family trusts, of which Mr. Kraus serves as trustee; and (v) 75,516 shares of common stock issuable upon conversion of preferred stock held in a family trust, of which Mr. Kraus serves as trustee. Effective May 22, 2026, Mr. Kraus retired as our President.

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(3)Represents (i) 192,212 shares of common stock issuable to Ms. Gugino pursuant to outstanding stock options that are exercisable within 60 days of May 31, 2026; and (ii) 32,404 shares of common stock issuable to Ms. Gugino upon the settlement of RSUs for which the service-based vesting condition would be satisfied within 60 days of May 31, 2026 and the liquidity-based vesting condition will be satisfied upon the completion of this offering (of which 17,822 shares of common stock are expected to be issued after giving effect to the RSU Settlement, assuming a 45% tax withholding rate).

(4)Represents (i) 701,166 shares of common stock held by Mr. Bao; (ii) 32,798 shares of common stock issuable upon conversion of preferred stock held by Mr. Bao; (iii) 249,702 shares of common stock held in certain family trusts, of which Mr. Bao serves as trustee; (iv) 1,616 shares of common stock issuable upon exercise of a 2020 Warrant held by a family trust, of which Mr. Bao serves as trustee (of which 1,181 shares of common stock are expected to be issued upon net exercise after satisfaction of the exercise price (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus)); and (v) 20,049 shares of common stock issuable upon conversion of a 2020 Note held by a family trust, of which Mr. Bao serves as trustee.

(5)See notes 1 to 4.

(6)Consists of (i) 3,394,313 shares of common stock held by Uber, a publicly traded company; (ii) 1,063,742 shares of common stock issuable upon conversion of preferred stock held by Uber; (iii) 6,312,922 shares of common stock issuable upon conversion of a 2020 Note held by Uber; and (iv) 3,250,461 shares of common stock issuable upon conversion of a 2021 Note held by Uber, assuming an initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus. The registered address of Uber Technologies, Inc. is 1725 3rd Street, San Francisco, CA 94158.

(7)Consists of (i) 510,447 shares of common stock issuable upon conversion of preferred stock held by AH Parallel Fund V, L.P., for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P. and AH Parallel Fund V-Q, L.P. (collectively, the "AH Parallel Fund V Entities"); (ii) 94 shares of common stock issuable upon the exercise of a 2020 Warrant held by AH Parallel Fund Entities (of which 68 shares of common stock are expected to be issued upon net exercise after satisfaction of the aggregate exercise price (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus)); (iii) 1,173 shares of common stock issuable upon conversion of a 2020 Note held by the AH Parallel Fund V Entities; (iv) 1,218,495 shares of common stock issuable upon conversion of preferred stock held by Andreessen Horowitz Fund IV, L.P., for itself and as nominee for Andreessen Horowitz Fund IV-A, L.P., Andreessen Horowitz Fund IV-B, L.P., and Andreessen Horowitz Fund IV-Q, L.P. (collectively, the "AH Fund IV Entities"); (v) 31 shares of common stock issuable upon the exercise of a 2020 Warrant held by AH Fund IV Entities (of which 22 shares of common stock are expected to be issued upon net exercise after satisfaction of the aggregate exercise price (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus)); (vi) 388 shares of common stock issuable upon conversion of a 2020 Note held by the AH Fund IV Entities; (vii) 613 shares of common stock issuable upon conversion of preferred stock held by CLF Partners, LP ("CLF"); (viii) 1 share of common stock issuable upon conversion of a 2020 Note held by CLF; (ix) 85,140 shares of common stock issuable upon the exercise of a 2020 Warrant held by CONSW1, L.P. ("CONSW1") (of which 62,254 shares of common stock are expected to be issued upon net exercise after satisfaction of the aggregate exercise price (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus)); and (x) 1,055,636 shares of common stock issuable upon conversion of a 2020 Note held by CONSW1. AH Equity Partners V (Parallel), L.L.C. ("AH EP V Parallel"), the general partner of the AH Parallel Fund V Entities, may be deemed to have sole voting and dispositive power over the securities held by the AH Parallel Fund V Entities. AH Equity Partners IV, L.L.C. ("AH EP IV"), the general partner of the AH Fund IV Entities and CONSW1, may be deemed to have sole voting and dispositive power over the securities held by the AH Fund IV Entities and CONSW1. AH Equity Partners V, L.L.C. ("AH EP V"), the general partner of CLF, may be deemed to have sole voting and dispositive power over the securities held by CLF. The managing members of each of AH EP V Parallel, AH EP IV, and AH EP V are Marc Andreessen and Benjamin Horowitz. Each of Messrs. Andreessen and Horowitz may be deemed to hold shared voting and dispositive power with respect to the securities held by each of the AH Parallel Fund V Entities, AH Fund IV Entities, CONSW1, and CLF. The address for each of the aforementioned entities and individuals is 2865 Sand Hill Road, Suite 101, Menlo Park, CA 94025.

(8)Consists of securities beneficially owned, or may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies. Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in

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accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. The address of FMR LLC is 245 Summer Street, Boston, MA 02210.

(9)Consists of 9,751,385 shares of common stock issuable upon conversion of a 2021 Note held by Sapphire Direct Holding RSC Ltd ("Sapphire"), assuming an initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus. Sapphire is wholly owned by Lunate Legacy II LP ("Lunate Legacy II"). The general partner of Lunate Legacy II is Lunate Legacy II (GP) SPV Ltd ("Lunate Legacy II GP"). Lunate Capital Limited ("Lunate") is the investment manager of Lunate Legacy II and wholly owns Lunate Legacy II GP. Lunate Holding is majority-owned by Chimera Investment LLC ("Chimera"). By virtue of their relationships with Sapphire, the Lunate Entities and Chimera may be deemed to beneficially own securities of the Company beneficially owned by Sapphire. The address of Lunate is Unit No. 1, Floor 12, Al Maryah Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

(10)Represents selling stockholders not otherwise listed in this table who, within the groups indicated, collectively own less than 1% of our common stock.

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**DESCRIPTION OF SECURITIES**

*The following summary describes our capital stock and certain provisions of our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, the investors' rights agreement to which we and certain of our stockholders are parties and of the Delaware General Corporation Law. Because the following is only a summary, it does not contain all of the information that may be important to you. For a complete description, you should refer to our amended and restated certificate of incorporation, amended and restated bylaws, and investors' rights agreement, copies of which are filed as exhibits to the registration statement of which this prospectus is part.*

**General**

Immediately following the completion of this offering, our authorized capital stock will consist of 1,000,000,000 shares of common stock, par value $0.0001 per share, and 200,000,000 shares of undesignated preferred stock, par value $0.0001 per share.

As of March 31, 2026, after giving effect to (i) the Transactions and (ii) the filing and effectiveness of our amended and restated certificate of incorporation, there were 57,346,145 shares of our common stock outstanding, held by 1,597 stockholders of record, and no shares of our preferred stock outstanding.

**Common Stock**

***Voting Rights***

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders.

Our amended and restated certificate of incorporation does not provide for cumulative voting for the election of directors. As a result, the holders of a majority of our voting shares can elect all of the directors then standing for election. Our amended and restated certificate of incorporation establishes a classified board of directors, to be divided into three classes with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms.

***Dividends***

Subject to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to receive dividends as may be declared from time to time by our board of directors out of legally available funds. See the section titled "Dividend Policy" for additional information.

***Right to Receive Liquidation Distributions***

In the event of our liquidation, dissolution, or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.

***No Preemptive or Similar Rights***

Our common stock is not entitled to preemptive rights and is not subject to redemption or sinking fund provisions. The rights, preferences and privileges of the holders of our common stock will be subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock that we may designate in the future.

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**Preferred Stock**

Pursuant to the provisions of our amended and restated certificate of incorporation, each currently outstanding share of convertible preferred stock will automatically be converted into one share of common stock effective upon the completion of this offering. Following this offering, no shares of convertible preferred stock will be outstanding.

Following the completion of this offering, our board of directors will be authorized, subject to limitations prescribed by Delaware law, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations, or restrictions, in each case without further vote or action by our stockholders. Our board of directors can also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring, or preventing a change in control of our company and might adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. We have no current plans to issue any shares of preferred stock.

**Stock Options**

As of March 31, 2026, we had outstanding stock options to purchase an aggregate of 6,436,019 shares of our common stock, with a weighted-average exercise price of $9.29 per share, issued pursuant to the 2017 Plan.

**Restricted Stock Units**

As of March 31, 2026, we had outstanding RSUs representing 3,145,359 shares of our common stock, issuable upon satisfaction of service-based and liquidity-based vesting conditions pursuant to the 2017 Plan.

In connection with the RSU Settlement, we will issue 234,958 shares of our common stock subject to 427,197 RSUs outstanding as of March 31, 2026, after withholding 192,239 shares to satisfy our estimated tax withholding and remittance obligations (assuming a 45% tax withholding rate).

**Warrants**

***Common Stock Warrants***

As of March 31, 2026, we had outstanding warrants (excluding the 2020 Warrants (as defined below)) to purchase an aggregate of 31,431 shares of our common stock, with a weighted-average exercise price of $29.83 per share.

***Preferred Stock Warrant***

As of March 31, 2026, we had an outstanding warrant to purchase an aggregate of 11,674 shares of our convertible Series 1-B preferred stock with an exercise price of $44.97 per share (the "Preferred Stock Warrant"). This warrant contains a net exercise provision under which its holder may, in lieu of payment of the exercise price in cash, surrender the warrant and receive a net amount of shares based on the fair market value of the underlying shares at the time of exercise of the warrant after deduction of a number of shares equal in value to the aggregate exercise price. If the holder does not elect to exercise this warrant in connection with this offering, this warrant will remain outstanding following this offering until its expiration at the later of ten years from the date of issuance and two years from the effectiveness of this offering. If, following this offering, the fair market value of a share of common stock at the time of

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expiration of this warrant is greater than the exercise price of this warrant, any portion of the warrant not previously exercised will be automatically deemed exercised pursuant to the terms and at such price as described in this warrant. Upon the completion of this offering and in connection with the Transactions, the Preferred Stock Warrant will become a warrant to purchase 11,674 shares of our common stock, with an exercise price of $44.97 per share.

***2020 Warrants***

As of March 31, 2026, we had outstanding warrants to purchase an aggregate of 230,627 shares of our common stock (the "2020 Warrants") with an exercise price of $6.72 per share, subject to certain customary adjustments, that we issued to certain noteholders in connection with the 2020 Investor NPA (as defined below). The 2020 Warrants became exercisable 90 days following the date of issuance and expire seven years following the date of issuance. 27,131 shares of our common stock were issued after March 31, 2026 upon exercise of certain 2020 Warrants at the exercise price. The remaining 2020 Warrants that are outstanding immediately prior to the completion of this offering will be automatically exercised in full on a net exercise basis, which will result in the net issuance of 148,748 shares of our common stock, after giving effect to the withholding of 54,748 shares of common stock underlying such warrants to satisfy the exercise price (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus).

**Convertible Notes**

***2020 Notes***

On May 7, 2020, we entered into a note purchase agreement with Uber (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the "2020 Uber NPA") and a note and warrant purchase agreement with certain other investors (the "2020 Investor NPA" and, together with the 2020 Uber NPA, the "2020 NPAs"). From May through June 2020, we issued convertible notes pursuant to the 2020 NPAs in the aggregate principal amount of approximately $170.0 million, of which an aggregate principal amount of $85.0 million was issued pursuant to the 2020 Uber Note and the remaining approximately $85.0 million to other investors, including the a16z Notes (the "2020 Investor Notes" and together with the 2020 Uber Note, the "2020 Notes").

The 2020 Notes accrue non-compounding interest at a rate of 4.0% per annum and mature seven years following the date of issuance, unless earlier converted pursuant to their terms. Accrued interest is payable in accordance with the conversion and settlement options described below. The 2020 Notes are secured by substantially all of our assets as set forth in the security agreements thereto.

The aggregate outstanding principal amount of the 2020 Notes plus unpaid accrued interest through March 31, 2026 will automatically convert into an aggregate of up to 12,556,013 shares of our common stock upon the execution of the underwriting agreement related to this offering, based on a conversion price equal to $340.0 million plus any consideration paid by each noteholder for the 2020 Notes divided by our fully-diluted capitalization on August 5, 2020 (the "2020 Note Conversion Price"). The actual number of shares of common stock issued pursuant to conversion of the 2020 Notes will depend on the accrued interest through the date of such conversion.

The 2020 Notes include customary covenants, representations and warranties, and events of default.

***2021 Notes***

On October 29, 2021, we entered into the 2021 NPA. From October through November 2021, we issued convertible notes pursuant to the 2021 NPA in the aggregate principal amount of $417.6 million (the "2021 Notes").

The 2021 Notes, as amended, mature five years following the date of issuance. The 2021 Notes accrue interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by an additional

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1.0% in October 2023 and by 1.0% every six months thereafter, up to a maximum rate of 8.0%. As of March 31, 2026, the interest rate on the 2021 Notes was 8.0%. Accrued and unpaid interest is payable semi-annually in arrears commencing in October 2022, at our election, either by a PIK interest payment or in the form of cash. To date, we have elected to pay the interest accrued in the form of PIK interest payments. We may not voluntarily prepay or redeem the 2021 Notes prior to their maturity date. The 2021 Notes are secured by substantially all of our assets as set forth in the security agreement thereto.

The aggregate outstanding principal amount of the 2021 Notes plus accrued and unpaid interest through March 31, 2026 will automatically convert into 26,800,164 shares of our common stock upon execution of the underwriting agreement related to this offering at a conversion price per share equal to the lesser of (i) 80% of the initial public offering price per share of common stock in this offering (which is $20.00 per share based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus) and (ii) a specified valuation cap of $1.5 billion divided by the aggregate amount of fully diluted shares of common stock on the applicable conversion date as set forth in the 2021 Notes. A $1.00 increase in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would decrease the shares of common stock issued in the 2021 Notes Conversion by 1,030,778 shares, and a $1.00 decrease in the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase the shares of common stock issued in the 2021 Notes Conversion by 1,116,677 shares. The actual number of shares of common stock issued pursuant to conversion of the 2021 Notes will depend on the accrued interest through the date of such conversion, subject to the same assumptions described above.

The 2021 Notes include customary covenants, representations and warranties, and events of default.

**Registration Rights**

Following the completion of this offering, and subject to the market standoff agreements or lock-up agreements entered into in connection with this offering, certain holders of an aggregate of 48,936,218 shares of our common stock or their permitted transferees will be entitled to rights with respect to the registration of these shares under the Securities Act. These rights are provided under the terms of an investors' rights agreement between us and the holders of these shares and include Form S-1 demand registration rights, Form S-3 demand registration rights and piggyback registration rights. In any registration made pursuant to such investors' rights agreement, all fees, costs and expenses of underwritten registrations will be borne by us and all selling expenses, including all underwriting discounts, selling commissions and stock transfer taxes, will be borne by the holders of the shares being registered on a pro rata basis. We will not be required to bear the expenses in connection with the exercise of the demand registration rights of a registration if the request is subsequently withdrawn at the request of the selling stockholders holding a majority of securities to be registered. In an underwritten public offering, the underwriters have the right, subject to specified conditions, to limit the number of shares such holders may include.

The registration rights terminate (i) upon a deemed liquidation event, as defined in the investors' rights agreement, (ii) three years following the completion of this offering or (iii) at such time as any particular stockholder may sell all of its shares during any 90-day period pursuant to Rule 144 or another similar exemption under the Securities Act.

***Form S-1 Demand Registration Rights***

The holders of an aggregate of 48,936,218 shares of our common stock, or their permitted transferees, are entitled to Form S-1 demand registration rights. Under the terms of the investors' rights agreement, at any time beginning 180 days after the effective date of the registration statement of which this prospectus forms a part, the holders representing a majority of the then-outstanding shares that are entitled to registration rights can request that we file a registration statement on Form S-1 covering all or some of their shares as soon as practicable, and in any event within 60 days after the date of such

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request, if the number of shares being registered is at least 40% of the aggregate number of the then-outstanding shares that are entitled to registration rights. We may be required to effect two registrations pursuant to this provision of the investors' rights agreement. We may postpone the filing of a registration statement once for up to 120 days in a 12-month period if our board of directors determines that the filing would be materially detrimental to us. We are not required to effect a Form S-1 demand registration under certain additional circumstances specified in the investors' rights agreement, including during the period starting with 60 days prior to our good faith estimate of the date of filing and ending on a date 180 days after the effective date of a registration statement filed at our initiation.

***Form S-3 Demand Registration Rights***

The holders of an aggregate of 48,936,218 shares of our common stock, or their permitted transferees, are also entitled to Form S-3 demand registration rights. Under the terms of the investors' rights agreement, at any time once we are eligible to file a registration statement on Form S-3, the holders representing at least 30% of the then-outstanding shares that are entitled to registration rights under the investors' rights agreement can request that we file a registration statement on Form S-3 covering all or some of their shares, as soon as practicable, and in any event within 45 days of such request, if the aggregate price to the public of the shares offered is at least $10.0 million, net of selling expenses, including underwriting discounts, selling commissions and stock transfer taxes. The holders may only require us to effect at most two registration statements on Form S-3 in any 12-month period. We may postpone the filing of a registration statement once for up to 120 days in a 12-month period if our board of directors determines that the filing would be materially detrimental to us. We are not required to effect a Form S-3 registration under certain additional circumstances specified in the investors' rights agreement, including during the period beginning 30 days prior to our good faith estimate of the date of filing and ending on a date 90 days after the effective date of a registration statement filed at our initiation.

***Piggyback Registration Rights***

If we register any of our securities for public sale, holders of an aggregate of 48,936,218 shares of our common stock, or their permitted transferees, entitled to registration rights under the investors' rights agreement will have the right to include their shares in the registration statement. However, this right does not apply to a registration relating to the sale of securities pursuant to any company stock plan, a registration relating to an SEC Rule 145 transaction, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the common stock, or a registration in which the only common stock being registered is common stock issuable upon conversion of debt securities that are also being registered. The underwriters of any underwritten offering will have the right to limit the number of shares registered by these holders if they determine that marketing factors require limitation, in which case the number of shares to be registered will be apportioned pro rata among these holders, according to the total amount of shares entitled to registration rights held by each holder or in such other proportions as shall mutually be agreed to by such holders. However, the number of shares to be registered by these holders cannot be reduced unless all other securities (other than any shares to be sold by us) are first entirely excluded from the underwriting.

**Anti-Takeover Provisions**

Certain provisions of Delaware law, our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, which are summarized below, may have the effect of delaying, deferring, or discouraging another person from acquiring control of us. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms.

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***Delaware Law***

We are subject to Section 203 of the Delaware General Corporation Law, which prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the business combination or transaction which resulted in the stockholder becoming an interested stockholder was approved by the board of directors prior to the time that the stockholder became an interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at or subsequent to the time the stockholder became an interested stockholder, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least a majority (excluding abstentions and broker non-votes) of the outstanding voting stock which is not owned by the interested stockholder.

In general, Section 203 defines a "business combination" to include mergers, asset sales and other transactions resulting in financial benefit to a stockholder and an "interested stockholder" as a person who, together with affiliates and associates, owns, or within three years did own, 15% or more of the corporation's outstanding voting stock. These provisions may have the effect of delaying, deferring, or preventing changes in control of our company.

***Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws***

Our amended and restated certificate of incorporation and our amended and restated bylaws, which will become effective immediately prior to the completion of this offering, will include a number of provisions that could deter hostile takeovers or delay or prevent changes in control of our board of directors or management team, including the following:

***Classified Board***

Our amended and restated certificate of incorporation will further provide that our board of directors is divided into three classes, Class I, Class II and Class III, with each class serving staggered three-year terms. In addition, directors may only be removed from the board of directors for cause. The existence of a classified board could delay a potential acquirer from obtaining majority control of our board of directors, and the prospect of that delay might deter a potential acquirer. See the section titled "Management—Board Structure and Composition" for additional information.

***Board of Directors Vacancies***

Our amended and restated certificate of incorporation and our amended and restated bylaws will authorize only our board of directors to fill vacant directorships, including newly created seats. In addition, the number of directors constituting our board of directors will be permitted to be set only by a resolution adopted by a majority vote of our entire board of directors. These provisions would prevent a stockholder from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies with its own nominees. This will make it more difficult to change the composition of our board of directors and will promote continuity of management.

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***Stockholder Action; Special Meeting of Stockholders***

Our amended and restated certificate of incorporation will provide that our stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. As a result, a holder controlling a majority of our capital stock would not be able to amend our amended and restated bylaws or remove directors without holding a meeting of our stockholders called in accordance with our amended and restated bylaws. Our amended and restated bylaws will further provide that special meetings of our stockholders may be called only by a majority of our board of directors, the chair of our board of directors or our Chief Executive Officer, thus prohibiting a stockholder from calling a special meeting. These provisions might delay the ability of our stockholders to force consideration of a proposal or for stockholders controlling a majority of our capital stock to take any action, including the removal of directors.

***Advance Notice Requirements for Stockholder Proposals and Director Nominations***

Our amended and restated bylaws will provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders or to nominate candidates for election as directors at our annual meeting of stockholders. Our amended and restated bylaws will also specify certain requirements regarding the form and content of a stockholder's notice. These provisions might preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders if the proper procedures are not followed. We expect that these provisions may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to obtain control of our company.

***No Cumulative Voting***

The Delaware General Corporation Law provides that stockholders are not entitled to cumulate votes in the election of directors unless a corporation's certificate of incorporation provides otherwise. Our amended and restated certificate of incorporation will not provide for cumulative voting.

***Amendment of Charter and Bylaws Provisions***

Amendments to our amended and restated certificate of incorporation will require the approval of at least two-thirds of the outstanding voting power of our common stock. Our amended and restated bylaws will provide that approval of stockholders holding at least two-thirds of our outstanding voting power voting as a single class is required for stockholders to amend or adopt any provision of our bylaws.

***Issuance of Undesignated Preferred Stock***

Our board of directors will have the authority, without further action by our stockholders, to issue up to 200,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by our board of directors. The existence of authorized but unissued shares of preferred stock would enable our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest, or other means.

***Choice of Forum***

Our amended and restated certificate of incorporation and amended and restated bylaws will provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the exclusive forum for the following types of actions or proceedings under Delaware statutory or common law: any derivative action or proceeding brought on our behalf; any action asserting a claim of breach of fiduciary duty owed by any of our directors, officers or stockholders to us or to our stockholders; any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, our amended and restated certificate of incorporation or our amended and restated bylaws (as either may be amended from time to time); or any action asserting a claim against us that is

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governed by the internal affairs doctrine. As a result, any action brought by any of our stockholders with regard to any of these matters will need to be filed in the Court of Chancery of the State of Delaware and cannot be filed in any other jurisdiction; provided that, the exclusive forum provision will not apply to suits brought to enforce any liability or duty created solely by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction; and provided further that, if and only if the Court of Chancery of the State of Delaware dismisses any such action for lack of subject matter jurisdiction, such action may be brought in another state or federal court sitting in the State of Delaware. Our amended and restated certificate of incorporation and amended and restated bylaws will also provide that the federal district courts of the United States of America will be the exclusive forum for the resolution of any complaint asserting a cause or causes of action against us or any defendant arising under the Securities Act. Such provision is intended to benefit and may be enforced by us, our officers and directors, employees and agents, including the underwriters and any other professional or entity who has prepared or certified any part of this prospectus. Nothing in our amended and restated certificate of incorporation and amended and restated bylaws preclude stockholders that assert claims under the Exchange Act from bringing such claims in state or federal court, subject to applicable law.

If any action the subject matter of which is within the scope described above is filed in a court other than a court located within the State of Delaware (a "Foreign Action"), in the name of any stockholder, such stockholder shall be deemed to have consented to the personal jurisdiction of the state and federal courts located within the State of Delaware in connection with any action brought in any such court to enforce the applicable provisions of our amended and restated certificate of incorporation and amended and restated bylaws and having service of process made upon such stockholder in any such action by service upon such stockholder's counsel in the Foreign Action as agent for such stockholder. Although our amended and restated certificate of incorporation and amended and restated bylaws will contain the choice of forum provision described above, it is possible that a court could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable.

This choice of forum provision may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, other employees or stockholders, which may discourage litigation with respect to such claims or make such litigation more costly for stockholders, although our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

**Limitations on Liability and Indemnification Matters**

Our amended and restated certificate of incorporation will limit the liability of our directors and officers to the fullest extent permitted by the Delaware General Corporation Law, and our amended and restated bylaws will provide that we will indemnify them to the fullest extent permitted by such law. We expect to enter into indemnification agreements with our current directors and executive officers prior to the completion of this offering and expect to enter into a similar agreement with any new directors or executive officers. Further, pursuant to our indemnification agreements and directors' and officers' liability insurance, our directors and executive officers will be indemnified and insured against the cost of defense, settlement or payment of a judgment under certain circumstances. In addition, as permitted by Delaware law, our amended and restated certificate of incorporation will include provisions that eliminate the personal liability of our directors and officers for monetary damages resulting from breaches of certain fiduciary duties as a director or officer. The effect of this provision is to restrict our rights and the rights of our stockholders in derivative suits to recover monetary damages against a director or officer for breach of fiduciary duties as a director or officer.

These provisions may be held not to be enforceable for violations of the federal securities laws of the United States.

**Listing**

We have applied to list our common stock on Nasdaq under the symbol "LIME."

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**Transfer Agent and Registrar**

The transfer agent and registrar for our common stock will be Computershare Trust Company, N.A. The transfer agent and registrar's address is 150 Royall Street, Canton, MA 02021.

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**SHARES ELIGIBLE FOR FUTURE SALE**

Prior to this offering, there has been no public market for our common stock. Future sales of substantial amounts of our common stock in the public market could adversely affect market prices prevailing from time to time. Furthermore, because only a limited number of shares will be available for sale shortly after this offering due to existing contractual and legal restrictions on resale as described below, there may be sales of substantial amounts of our common stock in the public market after the restrictions lapse. This may adversely affect the prevailing market price and our ability to raise equity capital in the future.

Upon the completion of this offering, based on the number of shares of our capital stock outstanding as of March 31, 2026, we will have an aggregate of 64,025,936 shares of common stock outstanding, assuming no exercise of the underwriters' option to purchase additional shares of common stock, no exercise of any stock options or warrants or settlement of RSUs after March 31, 2026, and after giving effect to the Transactions (based on the assumed initial public offering price of $25.00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus).

All of the shares of common stock sold in this offering will be freely tradable without restrictions or further registration under the Securities Act, except for any shares purchased by our "affiliates," as that term is defined in Rule 144 under the Securities Act, whose sales would be subject to the Rule 144 resale restrictions described below, other than the holding period requirement.

The remaining shares of common stock and shares of common stock subject to stock options, RSUs, and warrants will be on issuance deemed "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rules 144 or 701 under the Securities Act, which are summarized below. We expect that substantially all of these shares will be subject to the 160 lock-up period under the lock-up agreements and market standoff provisions described below. Upon expiration of the 160-day lock-up period, we estimate that approximately 40.1 million shares (which excludes any shares subject to the Uber Lock-Up) will be available for sale in the public market, subject in some cases to applicable volume limitations under Rule 144.

In addition, the lock-up agreements and market standoff provisions discussed above permit sell-to-cover transactions to cover tax withholding and remittance obligations in connection with the vesting and/or settlement of RSUs during the lock-up period (other than RSUs that vest in connection with this offering). If we decide to sell-to-cover rather than net settle shares underlying these RSUs, up to approximately 0.1 million shares of our common stock underlying RSUs will be eligible for sale in the open market during the lock-up period in connection with such sell-to-cover transactions (assuming a 45% tax withholding rate).

**Rule 144**

In general, a person who has beneficially owned restricted shares of our common stock for at least six months would be entitled to sell such securities, provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the 90 days preceding, a sale; and (ii) we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Persons who have beneficially owned restricted shares of our common stock for at least six months but who are our affiliates at the time of, or any time during the 90 days preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of either of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1% of the number of shares of our common stock then outstanding, which will equal approximately 6.4 million shares immediately after this offering, assuming no exercise of the underwriters' option to purchase additional shares; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the average weekly trading volume of shares of our common stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to that sale;

provided, in each case, that we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Such sales both by affiliates and by non-affiliates must also comply with the manner of sale, current public information and notice provisions of Rule 144 to the extent applicable.

**Rule 701**

In general, under Rule 701 as currently in effect, any of our employees, directors, officers, consultants or advisors who acquired common stock from us in connection with a written compensatory stock or option plan or other written agreement in compliance with Rule 701 before the effective date of the registration statement of which this prospectus is a part (to the extent such common stock is not subject to a lock-up agreement) and who are not our "affiliates" as defined in Rule 144 during the immediately preceding 90 days, is entitled to rely on Rule 701 to resell such shares beginning 90 days after the date of this prospectus in reliance on Rule 144, but without complying with the notice, manner of sale, public information requirements or volume limitation provisions of Rule 144. Persons who are our "affiliates" may resell those shares beginning 90 days after the date of this prospectus without compliance with minimum holding period requirements under Rule 144 (subject to the terms of the lock-up agreement referred to below, if applicable).

**Lock-Up and Market Standoff Agreements**

We and all of our directors, executive officers, the selling stockholders, and certain other record holders that together represent approximately 77% of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to lock-up agreements with the underwriters agreeing that, subject to certain exceptions fully described under the section titled "Underwriting," without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, we and they will not, in accordance with the terms of such agreements, during the period ending on 160 days after the date of this prospectus (such period, the "Lock-Up Period") (i) offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any shares of common stock, or any options or warrants to purchase any shares of common stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of common stock (such shares of common stock, options, rights, warrants or other securities, collectively, "Lock-Up Securities"), including without limitation any such Lock-Up Securities now owned or hereafter acquired by the lock-up party, (ii) engage in any hedging or other transaction or arrangement (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the lock-up party or someone other than the lock-up party), or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any Lock-Up Securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of common stock or other securities, in cash or otherwise, (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities or (iv) otherwise publicly announce any intention to engage in or cause any action, activity, transaction or arrangement described in clause (i), (ii) or (iii) above. See the section titled "Underwriting" for additional information.

Furthermore, (1) an additional approximately 21% of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to the market standoff provisions in our amended and restated investors' rights agreement or substantially similar market standoff provisions in other agreements, in which such holders agreed to not (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or

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exercisable or exchangeable (directly or indirectly) for common stock, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of common stock or other securities, in cash, or otherwise; and (2) an additional approximately 2% of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to restrictions contained in market standoff agreements with us which include restrictions on the sale, transfer, or other disposition of shares. The forms and specific restrictive provisions within these market standoff provisions vary between security holders. For example, although some of these market standoff agreements do not specifically restrict hedging transactions and others may be subject to different interpretations between us and security holders as to whether they restrict hedging, our insider trading policy will prohibit hedging by all of our current directors, officers, employees, contractors, and consultants. Sales, short sales, or hedging transactions involving our equity securities, whether before or after this offering and whether or not we believe them to be prohibited, could adversely affect the price of our common stock.

As a result of the foregoing, substantially all of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to a lock-up agreement or market standoff provisions during the Lock-Up Period. We have agreed to enforce all such market standoff restrictions on behalf of the underwriters and not to amend or waive any such market standoff provisions during the Lock-Up Period without the prior consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, provided that we may release shares from such restrictions to the extent such shares would be entitled to release under the form of lock-up agreement with the underwriters signed by our directors, executive officers, the selling stockholders, and certain other record holders of our securities as described herein.

See "Underwriting" for information about exceptions to the lock-up agreements and market standoff agreements described above and a further description of these agreements. Upon the expiration of the Lock-Up Period, substantially all of the securities subject to such transfer restrictions (other than certain shares held by Uber, as discussed below) will become eligible for sale, subject to the limitations discussed above.

***Uber Lock-Up***

Pursuant to the Uber Lock-Up, Uber has agreed that, among other things, it will not without our prior written consent, subject to certain customary exceptions and termination provisions, lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right, or warrant to purchase, or transfer or dispose of, directly or indirectly, (i) any of the Uber Shares for one year following the date of this prospectus, (ii) for the period commencing on the Uber First Lock-Up Expiration Date and ending on the date that is eighteen months after the date of this prospectus, more than 50% of the Uber Shares in the aggregate, and (iii) for the period commencing on the Uber Second Lock-Up Expiration Date and ending on the date that is two years after the date of this prospectus, more than 75% of the Uber Shares in the aggregate. See the section titled "Certain Relationships and Related-Party Transactions—Integration Agreement—Uber Lock-Up" for additional information.

**Registration Rights**

We have granted Form S-1 demand registration rights, Form S-3 demand registration rights and piggyback registration rights to certain of our stockholders holding up to 48,947,892 shares of our common stock. Registration of the sale of these shares under the Securities Act would result in these shares becoming freely tradable without restriction under the Securities Act immediately upon the effectiveness of their registration, except for shares purchased by affiliates. See the section titled "Description of Securities—Registration Rights" for additional information.

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**Equity Incentive Plans**

We intend to file with the SEC one or more registration statements on Form S-8 under the Securities Act to register all of the shares of our common stock issuable or issuable and reserved for issuance under the 2017 Plan, the 2026 Plan and ESPP. Shares covered by such registration statement will be eligible for sale in the public market, subject to the Rule 144 limitations, vesting restrictions, and the lock-up agreements described above, if applicable.

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**MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS**

The following discussion is a summary of the material U.S. federal income tax consequences to Non-U.S. Holders (as defined below) of the purchase, ownership and disposition of our common stock issued pursuant to this offering, but does not purport to be a complete analysis of all potential tax effects. The effects of other U.S. federal tax laws, such as estate and gift tax laws, and any applicable state, local or non-U.S. tax laws are not discussed. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended (the "Code"), Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the U.S. Internal Revenue Service (the "IRS"), in each case in effect as of the date hereof. These authorities may change or be subject to differing interpretations. Any such change or differing interpretation may be applied retroactively in a manner that could adversely affect a Non-U.S. Holder. We have not sought and will not seek any rulings from the IRS regarding the matters discussed below. There can be no assurance the IRS or a court will not take a contrary position to that discussed below regarding the tax consequences of the purchase, ownership and disposition of our common stock.

This discussion is limited to Non-U.S. Holders that hold our common stock as a "capital asset" within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all U.S. federal income tax consequences relevant to a Non-U.S. Holder's particular circumstances, including the impact of the Medicare contribution tax on net investment income and the alternative minimum tax. In addition, it does not address consequences relevant to Non-U.S. Holders subject to special rules, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• U.S. expatriates and former citizens or long-term residents of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our common stock as part of a hedge, straddle or other risk reduction strategy or as part of a conversion transaction or other integrated investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• banks, insurance companies, and other financial institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• brokers, dealers or traders in securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "controlled foreign corporations," "foreign controlled foreign corporations," "passive foreign investment companies" and corporations that accumulate earnings to avoid U.S. federal income tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-exempt organizations or governmental organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons deemed to sell our common stock under the constructive sale provisions of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons who hold or receive our common stock pursuant to the exercise of any employee stock option or otherwise as compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-qualified retirement plans; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "qualified foreign pension funds" as defined in Section 897(l)(2) of the Code and entities all of the interests of which are held by qualified foreign pension funds.

If an entity treated as a partnership for U.S. federal income tax purposes holds our common stock, the tax treatment of a partner in the partnership will depend on the status of the partner, the activities of the partnership and certain determinations made at the partner level. Accordingly, partnerships holding our common stock and the partners in such partnerships should consult their tax advisors regarding the U.S. federal income tax consequences to them.

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**THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. INVESTORS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND DISPOSITION OF OUR COMMON STOCK ARISING UNDER THE U.S. FEDERAL ESTATE OR GIFT TAX LAWS OR UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY.**

**Definition of a Non-U.S. Holder**

For purposes of this discussion, a "Non-U.S. Holder" is any beneficial owner of our common stock that is neither a "U.S. person" nor an entity treated as a partnership for U.S. federal income tax purposes. A U.S. person is any person that, for U.S. federal income tax purposes, is or is treated as any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a corporation created or organized under the laws of the United States, any state thereof or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estate, the income of which is subject to U.S. federal income tax regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trust that (i) is subject to the primary supervision of a U.S. court and all substantial decisions of which are subject to the control of one or more "United States persons" (within the meaning of Section 7701(a)(30) of the Code), or (ii) has a valid election in effect to be treated as a United States person for U.S. federal income tax purposes.

**Distributions**

As described in the section titled "Dividend Policy," we do not anticipate declaring or paying any cash dividends in the foreseeable future. However, if we do make distributions of cash or property on our common stock, such distributions will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Amounts not treated as dividends for U.S. federal income tax purposes will constitute a return of capital and first be applied against and reduce a Non-U.S. Holder's adjusted tax basis in its common stock, but not below zero. Any excess will be treated as capital gain and will be treated as described under the subsection titled "—Sale or Other Taxable Disposition" below.

Subject to the discussion below regarding effectively connected income, dividends paid to a Non-U.S. Holder will be subject to U.S. federal withholding tax at a rate of 30% of the gross amount of the dividends (or such lower rate specified by an applicable income tax treaty, provided the Non-U.S. Holder furnishes a valid IRS Form W-8BEN or W-8BEN-E (or other applicable documentation) certifying qualification for the lower treaty rate). A Non-U.S. Holder that does not timely furnish the required documentation, but that qualifies for a reduced treaty rate, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. Non-U.S. Holders should consult their tax advisors regarding their entitlement to benefits under any applicable tax treaties.

If dividends paid to a Non-U.S. Holder are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the Non-U.S. Holder maintains a permanent establishment in the United States to which such dividends are attributable), the Non-U.S. Holder will be exempt from the U.S. federal withholding tax described above. To claim the exemption, the Non-U.S. Holder must furnish to the applicable withholding agent a valid IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States.

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Any such effectively connected dividends will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to U.S. persons. A Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected dividends, as adjusted for certain items. Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

**Sale or Other Taxable Disposition**

A Non-U.S. Holder will not be subject to U.S. federal income tax on any gain realized upon the sale or other taxable disposition of our common stock unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the gain is effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the Non-U.S. Holder maintains a permanent establishment in the United States to which such gain is attributable);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Non-U.S. Holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of the disposition and certain other requirements are met; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our common stock constitutes a U.S. real property interest ("USRPI") by reason of our status as a U.S. real property holding corporation ("USRPHC") for U.S. federal income tax purposes.

Gain described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to U.S. persons. A Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected gain, as adjusted for certain items.

A Non-U.S. Holder described in the second bullet point above will be subject to U.S. federal income tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on gain realized upon the sale or other taxable disposition of our common stock, which may be offset by certain U.S. source capital losses of the Non-U.S. Holder (even though the individual is not considered a resident of the United States), provided the Non-U.S. Holder has timely filed U.S. federal income tax returns with respect to such losses.

With respect to the third bullet point above, we believe we currently are not, and do not anticipate becoming, a USRPHC. Because the determination of whether we are a USRPHC depends, however, on the fair market value of our USRPIs relative to the fair market value of our non-U.S. real property interests and our other business assets, there can be no assurance we currently are not a USRPHC or will not become one in the future. Even if we are or were to become a USRPHC, gain arising from the sale or other taxable disposition of our common stock by a Non-U.S. Holder will not be subject to U.S. federal income tax if our common stock is "regularly traded," as defined by applicable Treasury Regulations, on an established securities market, and such Non-U.S. Holder owned, actually and constructively, 5% or less of our common stock throughout the shorter of the five-year period ending on the date of the sale or other taxable disposition or the Non-U.S. Holder's holding period.

Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

**Information Reporting and Backup Withholding**

Payments of dividends on our common stock will not be subject to backup withholding, provided the Non-U.S. Holder certifies its non-U.S. status, such as by furnishing a valid IRS Form W-8BEN, W-8BEN-E or W-8ECI, or otherwise establishes an exemption. However, information returns are required to be filed with the IRS in connection with any distributions on our common stock paid to the Non-U.S. Holder, regardless of whether such distributions constitute dividends or whether any tax was actually withheld. In addition, proceeds of the sale or other taxable disposition of our common stock within the United States or conducted through certain U.S.-related brokers generally will not be subject to backup withholding or

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information reporting if the applicable withholding agent receives the certification described above or the Non-U.S. Holder otherwise establishes an exemption. Proceeds of a disposition of our common stock conducted through a non-U.S. office of a non-U.S. broker that does not have certain enumerated relationships with the United States generally will not be subject to backup withholding or information reporting.

Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement to the tax authorities of the country in which the Non-U.S. Holder resides or is established.

Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or a credit against a Non-U.S. Holder's U.S. federal income tax liability, provided the required information is timely furnished to the IRS.

**Additional Withholding Tax on Payments Made to Foreign Accounts**

Withholding taxes may be imposed under Sections 1471 to 1474 of the Code (such Sections commonly referred to as the Foreign Account Tax Compliance Act ("FATCA")) on certain types of payments made to non-U.S. financial institutions and certain other non-U.S. entities. Specifically, a 30% withholding tax may be imposed on dividends on, or (subject to the proposed Treasury Regulations discussed below) gross proceeds from the sale or other disposition of, our common stock paid to a "foreign financial institution" or a "non-financial foreign entity" (each as defined in the Code), unless (i) the foreign financial institution undertakes certain diligence and reporting obligations, (ii) the non-financial foreign entity either certifies it does not have any "substantial United States owners" (as defined in the Code) or furnishes identifying information regarding each substantial United States owner, or (iii) the foreign financial institution or non-financial foreign entity otherwise qualifies for an exemption from these rules. If the payee is a foreign financial institution and is subject to the diligence and reporting requirements in (i) above, it must enter into an agreement with the U.S. Department of the Treasury requiring, among other things, that it undertake to identify accounts held by certain "specified United States persons" or "United States owned foreign entities" (each as defined in the Code), annually report certain information about such accounts, and withhold 30% on certain payments to non-compliant foreign financial institutions and certain other account holders. Foreign financial institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA may be subject to different rules.

Under applicable Treasury Regulations and administrative guidance, withholding under FATCA generally applies to payments of dividends on our common stock. While withholding under FATCA would have applied also to payments of gross proceeds from the sale or other disposition of our common stock beginning on January 1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are issued.

Prospective investors should consult their tax advisors regarding the potential application of withholding under FATCA to their investment in our common stock.

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**UNDERWRITING**

We, the selling stockholders, and the underwriters named below have entered into an underwriting agreement with respect to the shares being offered. Subject to certain conditions, each underwriter has severally agreed to purchase the number of shares indicated in the following table. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the representatives of the underwriters.

---

| | |
|:---|:---|
| **Underwriters** | **Number of Shares** |
| Goldman Sachs & Co. LLC |  |
| J.P. Morgan Securities LLC |  |
| Jefferies LLC |  |
| Evercore Group L.L.C. |  |
| Citizens JMP Securities, LLC |  |
| KeyBanc Capital Markets Inc. |  |
| Needham & Company, LLC |  |
| William Blair & Company, L.L.C. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 6956522 |

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The underwriters are committed to take and pay for all of the shares being offered, if any are taken, other than the shares covered by the option described below unless and until this option is exercised.

We have granted the underwriters an option for a period of 30 days from the date of this prospectus to purchase up to 1,043,478 additional shares of our common stock from us at the initial public offering price less the underwriting discounts and commissions to cover over-allotments. If any shares are purchased pursuant to this over-allotment option, the underwriters will severally purchase shares in approximately the same proportion as set forth in the table above.

The following table shows the per share and total underwriting discounts and commissions to be paid to the underwriters by us and the selling stockholders. Such amounts are shown assuming both no exercise and full exercise of the underwriters' option to purchase 1,043,478 additional shares from us.

**Paid by Us**

---

| | | |
|:---|:---|:---|
|  | **No Exercise**  | **Full Exercise** |
| Per Share | $| $|
| Total | $| $|

---

**Paid by the Selling Stockholders**

---

| | | |
|:---|:---|:---|
|  | **No Exercise**  | **Full Exercise** |
| Per Share | $| $|
| Total | $| $|

---

Shares sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover page of this prospectus. Any shares sold by the underwriters to securities dealers may be sold at a discount of up to $ per share from the initial public offering price. After the initial offering of the shares, the representatives may change the offering price and the other selling terms. The offering of the shares by the underwriters is subject to receipt and acceptance and subject to the underwriters' right to reject any order in whole or in part.

We and all of our directors and executive officers, the selling stockholders, and certain other record holders that together represent approximately 77% of our outstanding shares of common stock and

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securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to lock-up agreements with the underwriters agreeing that, subject to certain exceptions, without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, we and they will not, in accordance with the terms of such agreements, during the Lock-Up Period (i) offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any Lock-Up Securities, including without limitation any such Lock-Up Securities now owned or hereafter acquired by the lock-up party, (ii) engage in any hedging or other transaction or arrangement (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the lock-up party or someone other than the lock-up party), or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any Lock-Up Securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of common stock or other securities, in cash or otherwise, (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities or (iv) otherwise publicly announce any intention to engage in or cause any action, activity, transaction or arrangement described in clause (i), (ii) or (iii) above.

Furthermore, (1) an additional approximately 21% of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to the market standoff provisions in our amended and restated investors' rights agreement or substantially similar market standoff provisions in other agreements, in which such holders agreed to not (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for common stock, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of common stock or other securities, in cash, or otherwise; and (2) an additional approximately 2% of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to restrictions contained in market standoff agreements with us which include restrictions on the sale, transfer, or other disposition of shares. The forms and specific restrictive provisions within these market standoff provisions vary between security holders. For example, although some of these market standoff agreements do not specifically restrict hedging transactions and others may be subject to different interpretations between us and security holders as to whether they restrict hedging, our insider trading policy will prohibit hedging by all of our current directors, officers, employees, contractors, and consultants. Sales, short sales, or hedging transactions involving our equity securities, whether before or after this offering and whether or not we believe them to be prohibited, could adversely affect the price of our common stock.

As a result of the foregoing, substantially all of our outstanding shares of common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our common stock are subject to a lock-up agreement or market standoff provisions during the Lock-Up Period. We have agreed to enforce all such market standoff restrictions on behalf of the underwriters and not to amend or waive any such market standoff provisions during the Lock-Up Period without the prior consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, on behalf of the underwriters, provided that we may release shares from such restrictions to the extent such shares would be entitled to release under the form of lock-up agreement with the underwriters signed by our directors, executive officers, the selling stockholders, and certain other record holders of our securities as described herein.

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The restrictions imposed by the lock-up agreements and market standoff provisions are subject to certain exceptions, including with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Transfers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.upon death by will, testamentary document or intestate succession,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.to any member of the lock-up party's immediate family or to any trust for the direct or indirect benefit of the lock-up party or the immediate family of the lock-up party or, if the lock-up party is a trust, to a trustor, trustee or beneficiary of the trust or the estate of a beneficiary of such trust,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.to a partnership, limited liability company, corporation or other entity of which the lock-up party and the immediate family of the lock-up party are the legal and beneficial owner of all of the outstanding equity securities or similar interests,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a)(i) through (iv) above,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.if the lock-up party is a corporation, partnership, limited liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or other business entity that is an affiliate (as defined in Rule 405 under the Securities Act of 1933, as amended) of the lock-up party, or to any investment fund or other entity which fund or entity is controlled, managed by, or under common control or common investment management with, the lock-up party or affiliates of the lock-up party, or (B) as part of a distribution by the lock-up party to its stockholders, partners, members or other equityholders or to the estate of any such stockholders, partners, members or other equityholders,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii.by operation of law, such as pursuant to a qualified domestic order, divorce settlement, divorce decree or separation agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii.to us from an employee upon death, disability or termination of employment, in each case, of such employee,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix.if the lock-up party is not an officer or director, in connection with a sale of the lock-up party's shares of common stock acquired (A) from the underwriters in this offering or (B) in open market transactions after this offering,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x.to us in connection with the vesting, settlement or exercise of restricted stock units, shares of restricted stock, options, warrants or other rights to purchase shares of common stock (including, in each case, by way of "net" or "cashless" exercise) that are scheduled to expire or, in the case of RSUs, that automatically vest during the Lock-Up Period, including any transfer to us for the payment of tax withholdings or remittance payments due as a result of the vesting, settlement or exercise of such restricted stock units, shares of restricted stock, options, warrants or other rights, or in connection with the conversion or exchange of convertible or exchangeable securities, in all such cases pursuant to equity awards granted under a stock incentive plan or other equity award plan or arrangement, or pursuant to the terms of convertible or exchangeable securities, provided that any securities received upon such vesting, settlement, exercise or conversion that are not transferred to cover any such tax obligations shall be subject to the terms of the lock-up agreement or market standoff provision,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xi.to us in connection with the conversion, exchange or reclassification of our outstanding equity securities into shares of common stock, the conversion of any outstanding convertible notes

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or convertible promissory notes into shares of common stock, or any reclassification, exchange or conversion of the common stock, provided that any such shares of common stock received upon such conversion, exchange or reclassification shall be subject to the terms of the lock-up agreement or market standoff provision,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xii.in "sell to cover" or similar open market transactions (including, without limitation, "sell to cover" transactions effected through any written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of the lock-up party's Lock-Up Securities) during the Lock-Up Period to satisfy tax withholding obligations as a result of the exercise, vesting and/or settlement of equity awards (including options and RSUs) that are scheduled to expire or, in the case of RSUs, that automatically vest during the Lock-Up Period (other than RSUs that vest and settle immediately upon the completion of this offering), provided that any securities received upon such vesting, settlement or exercise that are not transferred to cover any such tax obligations shall be subject to the terms of the lock-up agreement or market standoff provision, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xiii.to the underwriters pursuant to the underwriting agreement.

provided that (A) in the case of clauses (a)(i), (ii), (iii), (iv), (v), and (xi) above, such transfer or distribution shall not involve a disposition for value, (B) in the case of clauses (a)(i), (ii), (iii), (iv), (v), (vi) and (vii) above, it shall be a condition to the transfer or distribution that the donee, devisee, transferee or distributee, as the case may be, shall sign and deliver a lock-up agreement to the underwriters, (C) in the case of clauses (a)(iii), (iv), (v), (vi) and (ix) above, no filing by any party (including, without limitation, any donor, donee, devisee, transferor, transferee, distributor or distributee) under the Exchange Act or other public filing, report or announcement reporting a reduction in beneficial ownership of Lock-Up Securities shall be required or shall be voluntarily made in connection with such transfer or distribution (other than a filing on Schedule 13D, 13F or 13G), and (D) in the case of clauses (a)(i), (ii), (vii), (viii), (x), (xi), and (xii) above, no filing under the Exchange Act or other public filing, report or announcement shall be voluntarily made, and if any such filing, report or announcement shall be legally required during the Lock-Up Period, such filing, report or announcement shall clearly indicate in the footnotes thereto the circumstances of such transfer or distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)enter into a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of shares of common stock, if then permitted by us, provided that none of the securities subject to such plan may be transferred, sold or otherwise disposed of until after the expiration of the Lock-Up Period (except to the extent otherwise allowed pursuant to the lock-up agreement or market standoff provision); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)transfer or dispose of shares of common stock pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved by our board of directors and made to all holders of the our capital stock involving a change of control; provided that in the event that such tender offer, merger, consolidation or other similar transaction is not completed, the shares of common stock shall remain subject to the provisions of the lock-up agreement.

The restrictions on issuances by us during the Lock-Up Period are subject to certain exceptions, including with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)the sale of our common stock to the underwriters pursuant to the underwriting agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)the issuance of shares of common stock upon the exercise of options or the settlement of restricted stock units (including any "net" or "cashless" exercise or settlement) outstanding as of, or issued after, the date hereof pursuant to our equity plans;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)the issuance shares of common stock upon the conversion or exchange of convertible or exchangeable securities or exercise of warrants (including any "net" or "cashless" exercise) outstanding as of the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)the issuance of up to 10% of the outstanding shares of our common stock immediately following the completion of this offering in connection with the acquisition of the securities, business, technology, property or other assets of another person or entity or pursuant to an employee benefit plan assumed by us in connection with such acquisition, and the issuance of any such securities pursuant to any such agreement, or joint ventures, commercial relationships and other strategic transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)our filing of any registration statement on Form S-8 (including any resale registration statement on Form S-8) relating to securities granted or to be granted pursuant to any plan in effect on the date hereof or any assumed benefit plan pursuant to an acquisition or similar strategic transaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)facilitating the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of our common stock, provided that such plan does not provide for the transfer of shares of our common stock during the Lock-up Period (except as otherwise permitted under the exceptions described in the lock-up agreements);

provided in the case of clauses (1)-(4) above, each recipient of such securities shall deliver a lock-up agreement to the underwriters for the remainder of the Lock-Up Period.

Prior to this offering, there has been no public market for the shares of our common stock. The initial public offering price has been negotiated among us, the selling stockholders, and the representatives. Among the factors to be considered in determining the initial public offering price of the shares, in addition to prevailing market conditions, will be our historical performance, estimates of our business potential and earnings prospects, an assessment of our management and the consideration of the above factors in relation to market valuation of companies in related businesses.

In addition, the lock-up agreements and market standoff provisions discussed above permit sell-to-cover transactions to cover tax withholding and remittance obligations in connection with the vesting and/or settlement of RSUs during the lock-up period (other than RSUs that vest in connection with this offering). If we decide to sell-to-cover rather than net settle shares underlying these RSUs, up to approximately 0.1 million shares of our common stock underlying RSUs will be eligible for sale in the open market during the lock-up period in connection with such sell-to-cover transactions (assuming a 45% tax withholding rate).

We have applied to list our common stock on Nasdaq under the symbol "LIME."

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common stock in the open market after pricing that could adversely affect investors who purchase in this offering. Stabilizing transactions consist of various bids for or purchases of common stock made by the underwriters in the open market prior to the completion of this offering.

The underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of the underwriting discount received by it because the representatives have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions.

Purchases to cover a short position and stabilizing transactions, as well as other purchases by the underwriters for their own accounts, may have the effect of preventing or retarding a decline in the market price of our common stock, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of our common stock. As a result, the price of our common stock may be higher than the price that otherwise might exist in the open market. The underwriters are not required to engage in these activities and may end any of these activities at any time. These transactions may be effected on Nasdaq, in the over-the-counter market or otherwise.

We estimate that the total expenses of the offering, excluding underwriting discounts and commissions, will be approximately $13.8 million. We have agreed to reimburse the underwriters for certain of their expenses relating to the clearance of this offering with the Financial Industry Regulatory Authority in an amount not to exceed $50,000.

We and the selling stockholders have agreed to indemnify the several underwriters against certain liabilities, including liabilities under the Securities Act of 1933.

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading, commercial and investment banking, lending, advisory, investment management, investment research, principal investment, hedging, market-making, brokerage and other financial and non-financial activities and services. Certain of the underwriters and their respective affiliates have provided, and may in the future provide, a variety of these services to us and to persons and entities with relationships with us, for which they received or will receive customary fees and expenses. We expect that affiliates of one or more of the underwriters will act as lenders and/or agents under, and as consideration therefor will receive customary fees and expenses in connection with, our Revolving Credit Facility.

In the ordinary course of their various business activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to our assets, securities and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us. The underwriters and their respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and instruments.

The underwriters have informed us that they do not intend sales to discretionary accounts to exceed 5% of the total number of shares of common stock offered by them.

**Indication of Interest**

Entities affiliated with Uber have indicated an interest in purchasing up to an aggregate of $20.0 million in shares of our common stock in this offering at the initial public offering price and on the same terms and conditions as the other purchasers in this offering. Uber will be subject to a lock-up agreement with the underwriters and the Uber Lock-Up, each of which contains restrictions on sales and/or other transfers on shares beneficially held by Uber. See discussion above and the section titled "Certain

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Relationships and Related-Party Transactions—Uber Lock-Up" for additional information. Because this indication of interest is not a binding agreement or commitment to purchase, entities affiliated with Uber may determine to purchase more, fewer, or no shares in this offering, or the underwriters may determine to sell more, fewer, or no shares to entities affiliated with Uber. The underwriters will receive the same underwriting discount on any shares of our common stock purchased by entities affiliated with Uber as they will from the other shares sold to the public in this offering.

**Sales to Retail Investors**

We anticipate that a portion of the common stock offered hereby will, at our request, be offered to retail investors through Fidelity Brokerage Services LLC, SoFi Securities LLC, and Robinhood Financial LLC, including through their respective online brokerage platforms. Fidelity Brokerage Services LLC, SoFi Securities LLC, and Robinhood Financial LLC will act as selling group members for this offering. These platforms are not affiliated with us. Purchases made through such platforms will be subject to the terms, conditions, and requirements set by each respective entity. The common stock offered in this offering through these brokerage platforms will initially be offered at the offering price listed on the cover page of this prospectus. Information contained on, or that can be accessed through, such brokerage platforms does not constitute part of this prospectus.

**Notice to Prospective Investors in the European Economic Area**

In relation to each Member State of the European Economic Area (each a "Relevant State"), no shares of common stock have been offered or will be offered pursuant to the offering to the public in that Relevant State prior to the publication of a prospectus in relation to the shares which has been approved by the competent authority in that Relevant State or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the Prospectus Regulation, except that offers of shares may be made to the public in that Relevant State at any time under the following exemptions under the Prospectus Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)to any legal entity which is a qualified investor as defined under Article 2 of the Prospectus Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the Prospectus Regulation), subject to obtaining the prior consent of the joint book-running managers for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)in any other circumstances falling within Article 1(4) of the Prospectus Regulation,

*provided* that no such offer of shares shall require us or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation and each person who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with each of the underwriters and us that it is a "qualified investor" within the meaning of Article 2(e) of the Prospectus Regulation. In the case of any shares being offered to a financial intermediary as that term is used in the Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offering have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of any shares to the public other than their offer or resale in a Relevant State to qualified investors as so defined or in circumstances in which the prior consent of the joint book-running managers has been obtained to each such proposed offer or resale.

For the purposes of this provision, the expression an "offer to the public" in relation to shares in any Relevant State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares, and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129.

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**Notice to Prospective Investors in the United Kingdom**

No shares have been offered or will be offered pursuant to the offering to the public in the United Kingdom except that the shares may be offered to the public in the United Kingdom at any time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)where (i) the offer is conditional on the admission of the shares to trading on the London Stock Exchange plc's main market (in reliance on the exception in paragraph 6(a) of Schedule 1 of the POATR) or (ii) the shares being offered are at the time of the offer already admitted to trading on London Stock Exchange plc's main market (in reliance on the exception in paragraph 6(b) of Schedule 1 of the POATR);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to any "qualified investor" as defined in paragraph 15 of Schedule 1 of the POATR;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)to fewer than 150 persons (other than qualified investors as defined in paragraph 15 of Schedule 1 of the POATR), subject to obtaining the prior consent of the underwriters for any such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)in any other circumstances falling within Part 1 of Schedule 1 of the POATR.

For the purposes of this provision, the expression an "offer to the public" in relation to the shares in the United Kingdom means the communication to any person which presents sufficient information on: (a) the shares to be offered; and (b) the terms on which they are to be offered, to enable an investor to decide to buy or subscribe for the shares and the expression "POATR" means the Public Offers and Admissions to Trading Regulations 2024.

This prospectus is only being distributed to and is only directed at: (A) persons who are outside the United Kingdom, or (B) qualified investors who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or (ii) high-net-worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this prospectus or any of its contents.

**Notice to Prospective Investors in Canada**

The shares may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the shares must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

**Notice to Prospective Investors in Hong Kong** 

Our shares of common stock have not been offered or sold and will not be offered or sold in Hong Kong, by means of any document, other than (i) to "professional investors" as defined in the Securities

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and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the "SFO") of Hong Kong and any rules made thereunder; or (ii) in other circumstances which do not result in the document being a "prospectus" as defined in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong (the "CO"), or which do not constitute an offer to the public within the meaning of the CO. No advertisement, invitation or document relating to our common stock has been or may be issued or has been or may be in the possession of any person for the purposes of issue, whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to shares of our common stock which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" as defined in the SFO and any rules made thereunder.

**Notice to Prospective Investors in Singapore**

This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of our shares of common stock may not be circulated or distributed, nor may our shares of common stock be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (1) to an institutional investor (as defined under Section 4A of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA")) under Section 274 of the SFA, (2) to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the SFA, or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions specified in Section 275 of the SFA or (3) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to conditions set forth in the SFA.

Where our shares of common stock are subscribed or purchased under Section 275 of the SFA by a relevant person which is a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor, the securities (as defined in Section 239(1) of the SFA) of that corporation shall not be transferable for six months after that corporation has acquired our shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer in that corporation's securities pursuant to Section 275(1A) of the SFA, (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA or (6) as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore ("Regulation 32").

Where our shares of common stock are subscribed or purchased under Section 275 of the SFA by a relevant person which is a trust (where the trustee is not an accredited investor (as defined in Section 4A of the SFA)) whose sole purpose is to hold investments and each beneficiary of the trust is an accredited investor, the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferable for six months after that trust has acquired our shares under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer that is made on terms that such rights or interest are acquired at a consideration of not less than S$200,000 (or its equivalent in a foreign currency) for each transaction (whether such amount is to be paid for in cash or by exchange of securities or other assets), (3) where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section 276(7) of the SFA or (6) as specified in Regulation 32.

Solely for the purposes of our obligations pursuant to Section 309B of the SFA, we have determined, and hereby notify all relevant persons (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 ("CMP Regulations")) that our shares of common stock are "prescribed capital markets products" (as defined in the CMP Regulations) and Excluded Investment Products (as

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defined in MAS Notice SFA 04- N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

**Notice to Prospective Investors in Japan**

The shares have not been and will not be registered pursuant to Article 4, Paragraph 1 of the Financial Instruments and Exchange Act. Accordingly, none of the shares nor any interest therein may be offered or sold, directly or indirectly, in Japan or to, or for the benefit of, any "resident" of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to or for the benefit of a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Financial Instruments and Exchange Act and any other applicable laws, regulations and ministerial guidelines of Japan in effect at the relevant time.

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**LEGAL MATTERS**

The validity of the shares of common stock offered hereby will be passed upon for us by Latham & Watkins LLP, Redwood City, California. Davis Polk & Wardwell LLP, Redwood City, California, is acting as counsel for the underwriters in connection with certain legal matters related to this offering. Whalen LLP, Newport Beach, California, has acted as counsel for the selling stockholders in connection with certain legal matters related to this offering.

**EXPERTS**

The consolidated financial statements of Neutron Holdings, Inc. as of December 31, 2024 and 2025, and for each of the years in the three-year period ended December 31, 2025 have been included herein in reliance upon the report of KPMG LLP, independent registered public accounting firm, appearing elsewhere herein, and upon the authority of said firm as experts in accounting and auditing. The audit report covering the December 31, 2025 consolidated financial statements contains an explanatory paragraph that states that the Company's debt payments due within one year after the date that the consolidated financial statements were issued and the uncertainty regarding its ability to make those payments or refinance the debt raises substantial doubt about the entity's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of that uncertainty.

**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

We have filed with the SEC a registration statement on Form S-1, including exhibits and schedules, under the Securities Act, with respect to the shares of common stock being offered by this prospectus. This prospectus, which constitutes part of the registration statement, does not contain all of the information in the registration statement and its exhibits. For further information with respect to us and our common stock, we refer you to the registration statement and its exhibits. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to the registration statement. Each of these statements is qualified in all respects by this reference.

You may read our SEC filings, including this registration statement, over the Internet at the SEC's website at *www.sec.gov*. Upon the completion of this offering, we will be subject to the information reporting requirements of the Exchange Act and we will file reports, proxy statements, and other information with the SEC. These reports, proxy statements, and other information will be available for review at the SEC's website referred to above. We also maintain a website at *www.li.me*, at which, following the completion of this offering, you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained on, or that can be accessed through, our website does not constitute part of this prospectus or the registration statement of which it forms a part, and the inclusion of our website address in this prospectus is an inactive textual reference only.

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**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**

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| | |
|:---|:---|
| | **Page** |
| <u>[Report of Independent Registered Public Accounting Firm](#i2daaa9faa0b24be68f6320125a1b1051_85)</u> | <u>[F-2](#i2daaa9faa0b24be68f6320125a1b1051_85)</u> |
| <u>[Consolidated Balance Sheets](#i2daaa9faa0b24be68f6320125a1b1051_98)</u> | <u>[F-3](#i2daaa9faa0b24be68f6320125a1b1051_98)</u> |
| <u>[Consolidated Statements of Operations](#i2daaa9faa0b24be68f6320125a1b1051_103)</u> | <u>[F-4](#i2daaa9faa0b24be68f6320125a1b1051_103)</u> |
| <u>[Consolidated Statements of Comprehensive Loss](#i2daaa9faa0b24be68f6320125a1b1051_108)</u> | <u>[F-5](#i2daaa9faa0b24be68f6320125a1b1051_108)</u> |
| <u>[Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit](#i2daaa9faa0b24be68f6320125a1b1051_113)</u> | <u>[F-6](#i2daaa9faa0b24be68f6320125a1b1051_113)</u> |
| <u>[Consolidated Statements of Cash Flows](#i2daaa9faa0b24be68f6320125a1b1051_120)</u> | <u>[F-7](#i2daaa9faa0b24be68f6320125a1b1051_120)</u> |
| <u>[Notes to Consolidated Financial Statements:](#i2daaa9faa0b24be68f6320125a1b1051_125)</u> | <u>[F-9](#i2daaa9faa0b24be68f6320125a1b1051_125)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1. Description of Business and Summary of Significant Accounting Policies](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> | <u>[F-9](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 2. Fair Value Measurements](#i2daaa9faa0b24be68f6320125a1b1051_159)</u> | <u>[F-20](#i2daaa9faa0b24be68f6320125a1b1051_159)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 3. Prepaid Expenses and Other Current Assets](#i2daaa9faa0b24be68f6320125a1b1051_168)</u> | <u>[F-22](#i2daaa9faa0b24be68f6320125a1b1051_168)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 4. Property and Equipment, Net](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> | <u>[F-22](#i2daaa9faa0b24be68f6320125a1b1051_172)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 5. Accrued Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_2199023260516)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_2199023260516)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 6. Other Long-term Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_186)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_186)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 7. Leases](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> | <u>[F-23](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 8. Commitments and Contingencies](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> | <u>[F-24](#i2daaa9faa0b24be68f6320125a1b1051_200)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 9. Convertible Notes and Term Loan](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> | <u>[F-26](#i2daaa9faa0b24be68f6320125a1b1051_206)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 10. Convertible Preferred Stock](#i2daaa9faa0b24be68f6320125a1b1051_212)</u> | <u>[F-28](#i2daaa9faa0b24be68f6320125a1b1051_212)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 11. Stock-Based Compensation](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> | <u>[F-30](#i2daaa9faa0b24be68f6320125a1b1051_218)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 12. Warrants](#i2daaa9faa0b24be68f6320125a1b1051_226)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_226)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 13. Other Expense, Net](#i2daaa9faa0b24be68f6320125a1b1051_232)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_232)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 14. Income Taxes](#i2daaa9faa0b24be68f6320125a1b1051_238)</u> | <u>[F-33](#i2daaa9faa0b24be68f6320125a1b1051_238)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 15. Related Party Transactions](#i2daaa9faa0b24be68f6320125a1b1051_246)</u> | <u>[F-36](#i2daaa9faa0b24be68f6320125a1b1051_246)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 16. Net Loss Per Share](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> | <u>[F-37](#i2daaa9faa0b24be68f6320125a1b1051_420)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 17. Segments](#i2daaa9faa0b24be68f6320125a1b1051_428)</u> | <u>[F-37](#i2daaa9faa0b24be68f6320125a1b1051_428)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 18. Subsequent Events](#i2daaa9faa0b24be68f6320125a1b1051_252)</u> | <u>[F-39](#i2daaa9faa0b24be68f6320125a1b1051_252)</u> |

---

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**Report of Independent Registered Public Accounting Firm**

To the Stockholders and Board of Directors

Neutron Holdings, Inc.:

*Opinion on the Consolidated Financial Statements*

We have audited the accompanying consolidated balance sheets of Neutron Holdings, Inc. and subsidiaries (the Company) as of December 31, 2024 and 2025, the related consolidated statements of operations, comprehensive loss, convertible preferred stock and stockholders' deficit, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2025, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles.

*Going Concern*

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> to the consolidated financial statements, the Company has significant debt payments due within one year after the date that the consolidated financial statements are issued and faces uncertainty regarding its ability to make those payments or refinance the debt, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u>. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

*Basis for Opinion*

These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the Company's auditor since 2020.

San Francisco, California

March 19, 2026, except for <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_428)[17](#i2daaa9faa0b24be68f6320125a1b1051_428)</u>, as to which the date is May 7, 2026, and the reverse stock splits described in <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_132)</u> and the subsequent events described in <u>[Note 18](#i2daaa9faa0b24be68f6320125a1b1051_252)</u>, as to which the date is June 22, 2026.

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED BALANCE SHEETS**

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

---

| | | |
|:---|:---|:---|
| | **As of December 31,** | **As of December 31,** |
| | **2024** | **2025** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $242647 | $339825 |
| &nbsp;&nbsp;&nbsp;Short-term restricted cash | 57228 | 69470 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 7011 | 8145 |
| &nbsp;&nbsp;&nbsp;Deposits | 1536 | 225 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 58007 | 69175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 366429 | 486840 |
| Property and equipment, net | 261289 | 254517 |
| Long-term restricted cash | 457 | 6006 |
| Operating lease right-of-use assets | 30227 | 29952 |
| Other long-term assets | 19587 | 16972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $677989 | $794287 |
| **Liabilities, Convertible Preferred Stock and Stockholders' Deficit** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $6294 | 8211 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 87101 | 82061 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 18708 | 21245 |
| &nbsp;&nbsp;&nbsp;Accrued taxes | 18318 | 25559 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 13928 | 10783 |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 8142 | 6301 |
| &nbsp;&nbsp;&nbsp;Term loan, current |  | 113866 |
| &nbsp;&nbsp;&nbsp;2021 Notes, current |  | 660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 152491 | 928350 |
| Term loan, non-current | 112354 |  |
| 2020 Notes | 200849 | 207885 |
| 2021 Notes, non-current | 544106 |  |
| Operating lease liabilities, non-current | 18801 | 20033 |
| Other long-term liabilities | 28507 | 45372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1057108 | 1201640 |
| &nbsp;&nbsp;&nbsp;Convertible preferred stock, $0.0001 par value, 20,846,055 shares authorized, 6,096,910 and 6,916,489 shares issued and outstanding as of December 31, 2024 and 2025, respectively, aggregate liquidation preference of $260,970 as of December 31, 2025 | 99652 | 114027 |
| &nbsp;&nbsp;&nbsp;Series 1-C convertible preferred stock warrants | 14320 |  |
| Stockholders' deficit |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 76,785,715 and 80,357,143 shares authorized, 10,145,962 and 10,847,267 shares issued and outstanding as of December 31, 2024 and 2025, respectively | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in-capital | 215139 | 233705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (22364) | (9910) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (685867) | (745176) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (493091) | (521380) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, convertible preferred stock and stockholders' deficit | $677989 | 794287 |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

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

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue | $521983 | $686630 | $886719 |
| Cost of revenue | 352778 | 405557 | 541272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 169205 | 281073 | 345447 |
| Operating expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 114183 | 143726 | 169460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 42642 | 48937 | 51636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 37004 | 41441 | 53950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 193829 | 234104 | 275046 |
| Operating income (loss) | (24624) | 46969 | 70401 |
| Interest expense | (23140) | (20282) | (20626) |
| Other expense, net | (68511) | (56204) | (99005) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) |
| Provision for income taxes | 6083 | 4396 | 10079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |
| Net loss per share attributable to common stockholders, basic and diluted | $(14.12) | $(3.73) | $(6.14) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 8665404 | 9083410 | 9662078 |

---

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

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS**

**(in thousands)**

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Net loss | $(122358) | $(33913) | $(59309) |
| Other comprehensive income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | 479 | 3561 | 3715 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of instrument-specific credit risk | 5399 | (10835) | 8739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income (loss) | 5878 | (7274) | 12454 |
| Comprehensive loss | $(116480) | $(41187) | $(46855) |

---

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

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<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT**

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Series 1-C Convertible Preferred Stock Warrants** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2022 | 6096910 | $99652 | $14320 | 9501888 | $1 | $182405 | $(20968) | $(529596) | $(368158) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (122358) | (122358) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 271770 |  | 2000 |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 13094 |  |  | 13094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 5878 |  | 5878 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting of early exercised stock options |  |  |  |  |  | 603 |  |  | 603 |
| Balance as of December 31, 2023 | 6096910 | 99652 | 14320 | 9773658 | 1 | 198102 | (15090) | (651954) | (468941) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (33913) | (33913) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 372304 |  | 3053 |  |  | 3053 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 13768 |  |  | 13768 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (7274) |  | (7274) |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting of early exercised stock options |  |  |  |  |  | 216 |  |  | 216 |
| Balance as of December 31, 2024 | 6096910 | 99652 | 14320 | 10145962 | 1 | 215139 | (22364) | (685867) | (493091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (59309) | (59309) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 701305 |  | 6378 |  |  | 6378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of convertible preferred stock for warrant exercised | 819579 | 14375 | (14320) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 12188 |  |  | 12188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 12454 |  | 12454 |
| Balance as of December 31, 2025 | 6916489 | $114027 | $— | 10847267 | $1 | $233705 | $(9910) | $(745176) | $(521380) |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cash flows from operating activities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 106340 | 89549 | 124673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 11485 | 11808 | 11198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount and debt issuance costs | 1508 | 1741 | 1749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 902 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense on convertible notes | 6800 | 6800 | 6800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign currency (gains) losses, net | (5294) | 19320 | (23455) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (4157) | 1468 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 3419 | 1295 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on change in fair value of the 2021 Notes | 77182 | 40950 | 124957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of right-of-use asset |  | 1583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 3194 | 3759 | 3494 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 849 | (222) | (594) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (13667) | (2317) | (2765) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (3247) | 2122 | 2181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | 18243 | 25010 | 25063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 81199 | 168953 | 214841 |
| Cash flows from investing activities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of vehicle assets | (65072) | (104529) | (97860) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of non-vehicle assets | (15056) | (17123) | (13193) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by investing activities | (80128) | (121652) | (111053) |
| Cash flows from financing activities |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of stock options and other common stock issuances | 2000 | 3053 | 6378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercises of preferred stock warrants |  |  | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of debt, net | 112689 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of debt issuance costs | (2225) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal repayment on term loans | (105000) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of fees relating to term loans | (5250) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs paid |  |  | (4823) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 2214 | 3053 | 1610 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 3408 | (9209) | 9571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase in cash and cash equivalents, and restricted cash | 6693 | 41145 | 114969 |
| Cash and cash equivalents, and restricted cash, beginning of period | 252494 | 259187 | 300332 |
| Cash and cash equivalents, and restricted cash, end of period | $259187 | $300332 | $415301 |

---

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $244290 | $242647 | $339825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 14897 | 57685 | 75476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $259187 | $300332 | $415301 |
| Supplemental disclosures of cash flow information |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds | $7864 | $11226 | $6993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 9616 | 14273 | 11500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash investing and financing activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested early exercise liability | $603 | $216 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment financed by accounts payable and accrued expenses | 6481 | 19328 | 8090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs not yet paid |  |  | 2852 |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Description of Business***

Neutron Holdings, Inc. (the "Company" or "Lime") was incorporated in Delaware on January 3, 2017, and is headquartered in San Francisco, California. Lime is a micromobility company that provides rentals of shared electric scooters ("e-scooters") and electric bicycles ("e-bikes") through its platform (the "Rider App") to be used for short distances in various cities and municipalities around the world.

***Basis of Presentation***

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and include the accounts of the Company and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

***Reverse Stock Splits***

In May 2026, the Company's board of directors and the stockholders of the Company approved a 336-for-one reverse stock split of the Company's common stock and convertible preferred stock (collectively, the "Capital Stock"), which became effective on May 12, 2026.

In June 2026, the Company's board of directors and the stockholders of the Company approved a two-for-one reverse stock split of the Capital Stock, which became effective on June 18, 2026.

The authorized number of each class and series of Capital Stock was proportionally adjusted in accordance with the 336-for-one reverse stock split. Further, the authorized number of the Company's convertible preferred stock was proportionally adjusted in accordance with the two-for-one reverse stock split. The par value of each class of Capital Stock was not adjusted as a result of the reverse stock splits. All common stock, convertible preferred stock, stock options, RSUs, warrants, and per share information presented within these consolidated financial statements have been adjusted to reflect the reverse stock splits on a retroactive basis for all periods presented. No fractional shares were issued as a result of the reverse stock splits. Any fractional shares that would otherwise have resulted from the reverse stock splits were rounded down to the next whole share.

***Going Concern***

The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As of December 31, 2025, the Company had cash and cash equivalents of approximately $339.8 million. In addition, the Company has principal payments on convertible notes and term loan of approximately $675.8 million due within twelve months of the balance sheet date and it does not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about the Company's ability to continue as a going concern for at least one year from issuance of these consolidated financial statements. The Company's ability to continue as a going concern is dependent upon the consummation of an initial public offering, the ability to obtain necessary financing to meet its obligations, or the ability to obtain acceptable terms upon an amendment of its convertible notes. If additional equity or debt financing is required from outside sources, the Company may not be able to obtain additional liquidity on terms acceptable to it or at all. If the Company is unable to raise additional capital on acceptable terms when needed, its results of operations and financial condition would be materially and adversely affected.

As a result of the above, management has determined that substantial doubt exists about the Company's ability to continue as a going concern through twelve months from the date these financial statements are available to be issued. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

***Use of Estimates***

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Management evaluates its estimates and assumptions on an ongoing basis and makes adjustments when facts and circumstances dictate. The most significant estimates include the selection of useful lives of vehicle assets, the determination of the claims reserve, the determination of fair value of the Company's common stock, fair value of financial instruments and the excess and obsolescence reserve on capitalized spare parts. The Company's operations and financial performance means that these estimates may change in future periods, as new events occur, and additional information is obtained. These estimates are based on information available as of the date of these consolidated financial statements; therefore, actual results could differ from estimates.

***Segments***

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker ("CODM") in deciding how to allocate resources to an individual segment and in assessing performance. The Company's CODM is its Chief Executive Officer. The Company's CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company views its operations and manages its business as one operating and reportable segment, which is also a single reporting unit.

***Foreign Currency***

The Company's reporting currency is the U.S. dollar. The functional currency of the Company's foreign subsidiaries is the respective local currency, as it is the monetary unit of account of the principal economic environment in which the foreign subsidiary operates. Foreign currency transaction gains and losses resulting from, or expected to result from, transactions denominated in a currency other than the functional currency are recognized in other expense, net in the consolidated statements of operations. Subsidiary assets and liabilities with non-U.S. dollar functional currencies are translated to the U.S. dollar at the period-end rate, equity items are translated at historical rates, and revenue and expenses are translated at average exchange rates during the period. Cumulative translation adjustments are recorded in accumulated other comprehensive loss in the consolidated balance sheets.

***Cash and Cash Equivalents***

The Company's cash balance consists of bank deposits, institutional money market funds and certificates of deposits. Certain of the Company's bank deposit balances exceed those that are federally insured. To date, the Company has not recognized any losses related to uninsured balances.

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash equivalents are recorded at cost, which approximates fair value.

***Restricted Cash***

The Company classifies all cash subject to contractual restrictions as restricted cash. The Company's restricted cash primarily consists of: (i) amounts pledged as security for letters of credit or other collateral amounts related to certain supplier purchase agreements, real estate leases, insurance policies and other contractual arrangements; and (ii) amounts that are unavailable for immediate use due to other legal and/or contractual restrictions. Restricted cash is classified as a short-term or long-term asset based on the contractual or estimated term of the remaining restriction at period-end.

***Accounts Receivable, Net***

Accounts receivable, net represents uncollected payments from riders for completed transactions where the payment method is a credit card and includes (a) rider amounts not yet settled with payment

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service providers ("PSPs") and (b) rider amounts settled by PSPs but not yet remitted to the Company. Funds held at PSPs represent revenue earned but not yet realized as cash.

The Company recognizes an allowance for expected credit losses, determined by considering past history of write-offs, collections, and current credit conditions. As of December 31, 2024 and 2025, no allowance for credit losses was recorded. Amounts written off for the years ended December 31, 2023, 2024, and 2025 were not material.

***Property and Equipment, Net***

Property and equipment, net is stated at cost less accumulated depreciation and amortization and is comprised of two categories: (i) vehicle assets and (ii) non-vehicle assets.

The vehicle assets category includes the Company's fleet of e-scooters, e-bikes, and swappable batteries, as well as costs incurred to bring the vehicles and batteries to the condition and location necessary for their intended use, such as shipping, freight, and various customs duties.

Prior to January 1, 2025, vehicle assets were depreciated using a usage-based depreciation methodology. The methodology involved the calculation of depreciation expense for each vehicle based on the number of trips taken as a percentage of total trips expected and factored in actual, historical, and other data for different vehicle types. The methodology applied to swappable batteries involved the calculation of depreciation expense for each battery based on the number of trips taken as a percentage of total trips expected and factors in the expected life cycle per manufacturer's specifications, estimated swaps and charge cycles per year and the expected number of years until the battery becomes obsolete.

Effective January 1, 2025, the Company changed its depreciation methodology for vehicle assets from a usage-based method to a straight-line method. The Company determined that the change in depreciation method is a change in accounting estimate affected by a change in accounting principle to be applied prospectively. The change is considered preferable as the straight-line method will more accurately reflect the pattern of economic consumption of vehicle assets and result in improved financial reporting. The Company estimates useful lives of five years for e-scooters and e-bikes and four years for swappable batteries. The effect of the change to the straight-line method resulted in an increase of $14.8 million in depreciation expense and an estimated $11.8 million increase in net loss. The change did not result in an impact on net loss per share attributable to common stockholders, basic and diluted, for the year ended December 31, 2025.

On an annual basis during the fourth quarter, the Company performs a reassessment of the useful lives of its vehicle assets. If deemed necessary, the estimated useful life is then revised and updated on a prospective basis.

For vehicle assets that are classified as permanently decayed and non-operational, the Company accelerates and fully depreciates those vehicle assets in the month this determination is made and expenses any incurred costs associated with their disposal. Permanently decayed vehicle assets are those that have been offline for 90 days and meet other non-operational criteria.

Depreciation and amortization for non-vehicle assets is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:

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| | |
|:---|:---|
| Capitalized internal-use software | 2 years |
| Leasehold improvements | Lesser of estimated useful life or lease term |
| Furniture and fixtures | 3 years |
| Equipment | 2 years |

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***Capitalized Software Development Costs***

The Company capitalizes certain development costs incurred in connection with its internal-use software, developed applications and implementation costs for cloud computing arrangements ("CCA"). The internal-use software capitalized costs are primarily related to Lime's three core systems: the Rider App, an operations app called Lime Supply, and embedded software for vehicle intelligence. The implementation costs for CCA primarily relate to configuring and integrating the enterprise resource planning system, revenue application and vehicle application.

Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the internal-use software or CCA is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. Maintenance costs and bug fixes are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements to internal-use software and CCA when it is probable the expenditure will result in additional features and functionality.

Internal-use software is recorded in property and equipment, net and CCA is recorded in prepaid expenses and other current assets and other long-term assets in the consolidated balance sheets, based on the timing of the expected amortization.

Internal-use software is amortized on a straight-line basis over its estimated useful life of two years. CCA implementation costs are amortized on a straight-line basis over the term of the hosting arrangement.

Changes in internal-use software and CCA balances were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Internal-use Software** | **CCA** |
| Balance as of January 1, 2023 | $13399 | $7407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 13818 | 3293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (12533) | (3200) |
| Balance as of December 31, 2023 | 14684 | 7500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 16195 | 1838 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (14532) | (3762) |
| Balance as of December 31, 2024 | 16347 | 5576 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized costs | 10513 | 399 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | (14674) | (3495) |
| Balance as of December 31, 2025 | $12186 | $2480 |

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***Leases***

The Company leases warehouses, offices, and operations vehicles and accounts for these leases in accordance with Accounting Standards Codification ("ASC") 842, *Leases* ("ASC 842"). The Company made a policy election not to separate non-lease components from lease components; therefore, the Company accounts for lease and non-lease components as a single lease component. The Company elected the practical expedient to not recognize leases with a term of 12 months or less on the balance sheet.

The Company determines if a contract contains a lease at inception, based on whether it conveys the right to obtain substantially all of the economic benefits from the use of an identified asset and the right to direct the use of an identified asset in exchange for consideration. Right-of-use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the

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present value of the future lease payments at the lease commencement date. Certain of the Company's lease arrangements include escalating rent payment provisions, lease renewal or termination options and tenant allowances. The Company includes renewal options in the measurement of lease liabilities only to the extent the option is reasonably certain to be exercised.

The Company currently does not have any finance leases.

***Impairment of Long-Lived Assets***

The Company assesses long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. The carrying amount of a long-lived asset or asset group is not recoverable if it exceeds the sum of the undiscounted future cash flows expected to result from the use and eventual disposition of the asset or asset group. If the carrying amount of the long-lived asset or asset group is not recoverable, the amount of impairment loss is measured as the difference between the carrying value of the asset or asset group and its estimated fair value. The Company also reviews depreciation estimates and methods whenever a long-lived asset (or asset group) is tested for recoverability.

***Fair Value Option***

The Company elected the fair value option to account for the convertible secured promissory notes issued between October 29, 2021 and November 18, 2021 (the "2021 Notes"). The Company measures the 2021 Notes at fair value with changes in fair value recorded as a component of other expense, net in the consolidated statements of operations and changes in instrument-specific credit risk in the consolidated statements of comprehensive loss.

***Insurance***

The Company utilizes a combination of third-party insurance and retention mechanisms to cover various business and micromobility-related risks, including, but not limited to, general liability, automobile liability, excess liability, workers' compensation, property, cyber liability, and directors' and officers' liability. To comply with certain city and country insurance regulatory requirements for micromobility-related risks, in certain jurisdictions we also obtain rider insurance coverages. Rider insurance coverages, a relatively new insurance product specific to the micromobility industry, may include rider liability for third-party bodily injury and property damage and injury coverage to the rider themselves. Rider insurance coverages and limits vary by vehicle type and jurisdiction and are mostly obtained outside of the United States.

The Company maintains a claims reserve for unpaid losses and loss adjustment expenses for risks retained by the Company through its retention mechanisms. Estimating the number and severity of claims, as well as related judgment or settlement amounts, is inherently complex, subjective, and speculative. The Company employs various predictive modeling and actuarial techniques and makes numerous assumptions based on available historical experience and industry statistics to estimate the claims reserve.

While management believes that the claims reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. A number of external factors can affect the losses incurred, including but not limited to claim reporting delays, the length of time the claim remains open, increases in healthcare costs, legislative and regulatory developments, judicial developments, the general trend of increasing settlement amounts in litigation, and other unexpected events. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may vary from the estimated amounts provided for on the consolidated balance sheets. Claims reserve amounts estimated to be settled within one year are recorded in accrued liabilities, with longer term settlements recorded in other long-term liabilities on the consolidated balance sheets.

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***Freestanding Preferred Stock Warrants***

Freestanding warrants to purchase the Company's convertible Series B preferred stock are classified as liabilities in the consolidated balance sheets due to the redeemable nature of the underlying preferred stock. The warrants are subject to remeasurement at each reporting period, and changes in fair value are recognized as a component of other expense, net in the consolidated statements of operations. The Company will continue to remeasure the liability for changes in fair value until the earlier of the exercise or expiration of the warrants or the completion of a liquidation event, including the completion of an initial public offering ("IPO"), at which time all preferred stock warrants will be converted into warrants to purchase common stock and, accordingly, the liability will be reclassified to equity.

Freestanding warrants related to the Company's Series 1-C preferred stock are within the scope of ASC 718, *Compensation-Stock Compensation* ("ASC 718"). The Company recorded compensation expense associated with the satisfaction of the service condition as the services were performed and vesting occurred. The warrants were fully vested as of May 2020. Although these warrants are not mandatorily or currently redeemable, a deemed liquidation event would constitute a redemption event outside the Company's control. As a result of these liquidation features, these warrants have been classified outside of stockholders' deficit and presented as mezzanine equity on the consolidated balance sheet as of December 31, 2024. As discussed in Note 12 – Warrants, all warrants related to the Company's Series 1-C preferred stock were exercised during the year ended December 31, 2025.

***Partial Recourse Notes and Early Exercises***

During the year ended December 31, 2020 and prior, the Company issued promissory notes to certain executives and key employees in the aggregate principal amount of $38.6 million, in exchange for the early exercise of 932,001 stock options. The promissory notes represent the aggregate exercise price of the early exercised stock options and carry original stated interest rates ranging from 0.41% to 0.45% per annum. The principal amounts and accrued interest are generally due upon the earlier of: (i) maturity dates ranging from the 7th to 10th anniversary of the note's issuance, (ii) any transfer of the shares securing the promissory note or (iii) the completion of an IPO. All promissory notes issued were partially collateralized by the shares issued in exchange for the note on a non-pro rata basis and were considered nonrecourse notes in their entirety. As such, the shares issued are not considered "exercised" for accounting purposes until the notes are repaid and the underlying stock options have vested. Prior to repayment, the nonrecourse notes are not recorded on the consolidated balance sheets since the arrangement is, in substance, a stock option. The shares are included in the legally issued and outstanding shares of common stock on the consolidated balance sheets and in the statements of convertible preferred stock and stockholders' deficit.

As of December 31, 2024 and 2025, the principal amount of $34.5 million and related accrued interest of $2.2 million and $2.6 million, respectively, remained outstanding on promissory notes. As of December 31, 2024 and 2025, there were 850,156 shares issued that are pledged as security subject to repayment of the notes. Certain awards with repayment dates of October and November 2025 were extended to January 31, 2026. The financial statement impact of this extension was immaterial as of and for the year ended December 31, 2025.

***Fair Value Measurements***

Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820, *Fair Value Measurement*, the authoritative guidance

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establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

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|:---|:---|
| Level 1 | Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. |
| Level 2 | Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are not directly observable but can be corroborated by observable market data. |
| Level 3 | Inputs are unobservable for the asset or liability. |

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The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest-level input that is significant to the fair value measurement in its entirety.

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and supplier purchases.

Significant customers are those which represent more than 10% of the Company's total revenue or gross accounts receivable balance at each balance sheet date. During the years ended December 31, 2023, 2024 and 2025, no customers accounted for 10% or more of total revenue. As of December 31, 2024 and 2025, the Company had a third-party PSP that accounted for 85.5% and 83.9% of accounts receivable, respectively.

As discussed in <u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_246)[15](#i2daaa9faa0b24be68f6320125a1b1051_246)</u> – Related Party Transactions, the Company has an agreement with Uber which allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. Revenue earned through this agreement was approximately 14.1%, 15.8% and 14.3% of total revenue in 2023, 2024 and 2025, respectively. Accounts receivable from Uber was 9.6% and 6.7% of accounts receivable as of December 31, 2024 and 2025, respectively.

Significant vendors are those which represent more than 10% of the Company's total purchases. During the years ended December 31, 2024 and 2025, the Company had no significant vendors.

***Revenue Recognition***

The Company generates revenue from providing seamless, on-demand access to its network of e-scooters and e-bikes through two pricing models: either "Pay-As-You-Go" or LimePass.

*Lease Revenue*

Pay-As-You-Go allows riders to pay for usage based on the duration per session. The single-use rental of the Company's vehicles by riders are considered operating leases pursuant to ASC 842 which the Company is the lessor. The Company has fixed lease payments, in the form of unlock fees that are fixed charges to access the vehicles, and variable lease payments, in the form of per minute usage fees. The Company treats any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates. As the lease term is less than one day, the Company recognizes fixed lease payments (i.e. the unlock fees) and variable lease payments (i.e., usage minus lease incentives), at the time the ride is complete, on the same day the lease commenced.

*Revenue from Contracts with Customers*

The Company also recognizes revenue pursuant to ASC 606, *Revenue from Contracts with Customers*. This primarily relates to LimePass which consists of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring

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monthly subscription that provides riders with benefits such as free unlocks and extended vehicle reservations.

The services provided by the Company that are based on usage, such as minute bundles, are recognized using an output method, generally as the minutes are used, as this reflects the pattern of transfer for these services.

The services provided by the Company for fixed monthly subscriptions, such as LimePrime, are considered stand-ready performance obligations where riders benefit from the services evenly throughout the service period. Revenue is recognized on a ratable basis over the contractual period of the arrangement beginning when or as control of the promised services is transferred to the customer as this reflects the pattern of transfer for these services.

The Company also estimates the portion of customer rights that will never be redeemed ("breakage") and for which there is no legal obligation to remit the value of the unredeemed balance to the relevant jurisdiction as unclaimed or abandoned property. To the extent the Company has a basis for estimating breakage, the Company will recognize the breakage amounts as revenue, proportionate to the pattern of rights exercised by the customer. However, as the Company does not have a basis for estimating breakage, the Company will recognize breakage revenue when the likelihood of customer redemption, based on historical experience or long periods of inactivity, is remote.

The Company's revenue contracts do not result in significant obligations associated with returns, refunds or warranties. The Company's payment terms are generally fixed and do not include variable revenues or consideration. LimePass arrangements are paid in advance resulting in a contract liability.

*Disaggregated Revenue*

Total revenues disaggregated between lease revenue and revenue from contracts with customers are follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Lease revenue | $448449 | $548230 | $642841 |
| Revenue from contracts with customers | 73534 | 138400 | 243878 |
| Total revenue | $521983 | $686630 | $886719 |

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For both lease revenue and revenue from contracts with customers, the Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction and collected by the Company from a customer and remitted to governmental authorities. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

***Contract Liabilities***

The Company records a contract liability when the Company receives payments in advance of the performance obligations being satisfied on the Company's contracts. The Company's contract liabilities relate to Lime Cash, where riders preload a balance into the Rider App that can be applied to future Pay-As-You-Go trips. Amounts related to Lime Cash are recognized as lease revenue as redeemed. Lime Cash balances do not expire and amounts may never be redeemed. The Company assesses and recognizes breakage revenue for unredeemed Lime Cash balances if the likelihood of redemption, based on historical experience or long periods of inactivity, is deemed to be remote and if there is no requirement for remitting balances to government agencies under unclaimed property laws. The Company recognized $1.4 million, $1.0 million, and $1.1 million of breakage revenue (included as revenue from contracts with customers) related to unredeemed Lime Cash balances for the years ended December 31, 2023, 2024 and 2025, respectively. The unredeemed Lime Cash balances which become subject to escheatment are reclassified to accrued liabilities until remitted to the respective jurisdictions.

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Contract liability balances related to Lime Cash were $6.2 million, and $3.9 million as of December 31, 2024 and 2025, respectively. Substantially all of the contract liability balance as of December 31, 2024 was subsequently recognized as revenue, except balances subject to escheatment, during the year ended December 31, 2025. During the years ended December 31, 2023, 2024, and 2025, the Company reclassified $4.8 million, $3.9 million, and $1.7 million of contract liabilities to accrued liabilities for unredeemed Lime Cash balances subject to escheatment.

The Company also recognizes contract liabilities for other short-term contracts (LimePass) fulfilled within 30 days, which was $2.0 million and $2.4 million as of December 31, 2024 and 2025, respectively.

***Cost of Revenue***

Cost of revenue consists primarily of compensation, employee benefits and stock-based compensation of local operations field personnel associated with the deployment, maintenance and retrieval of vehicles and swapping of batteries in markets, vehicle asset depreciation and disposals, tools and parts, merchant and credit card processing fees, warehouse rent and related facilities costs, certain insurance costs related to the Company's micromobility service, operating permit costs and platform and web hosting server costs.

***Selling, General and Administrative***

Selling, general and administrative expenses include compensation, employee benefits and stock-based compensation for management, finance, legal, human resources, marketing, government relations, business development, general liability and corporate insurance costs, certain legal-related accruals and settlements and expenses, professional service fees, advertising and marketing, events, public relations, sponsorships, and other general overhead and allocated costs. Advertising costs are expensed as incurred and were $1.0 million, $1.1 million, and $1.9 million for the years ended December 31, 2023, 2024, and 2025, respectively.

***Operations and Support***

Operations and support expenses include compensation, employee benefits and stock-based compensation and other costs for central operations, supply chain, customer service, and trust and safety. Central operations personnel are responsible for the strategy, planning, data analysis and reporting across markets for capital expenditures and labor, warehouse optimization, new business initiatives, and expansion into new markets. Supply chain costs include distribution facility costs related to the centralized purchasing and storage prior to deployment of the Company's e-scooters and e-bikes to its local markets. Customer service costs include third party call-center support and customer support technology costs. Trust and safety personnel are responsible for developing the policies and protocols for the safety programs, monitoring safety trends, and supporting compliance with applicable laws and regulations.

***Research and Development***

Research and development costs are expensed as incurred. Research and development expenses include compensation, employee benefits and stock-based compensation for technology developers and product management employees as well as fees paid to outside consultants, software costs and other allocated costs.

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***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying the stock options and restricted stock units ("RSUs") on the grant date has been determined by the board of directors, as there is no public market for the underlying common stock. The Company recognizes stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. The Company records forfeitures as they occur.

The Company uses the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

The Company obtained an independent, third-party valuation to determine the fair value of common stock, considering the nature of the Company's business, earning capacity, distribution capacity and other material Company events and general market conditions and outlooks. The expected volatility is based on the historical and implied volatility of similar companies whose stock or option prices are publicly available, after considering the industry, stage of life cycle, size, market capitalization, and financial leverage of the other companies. The risk-free interest rate assumption is based on observed U.S. Treasury yield curve interest rates in effect at the time of grant appropriate for the expected term of the stock options granted. The Company has not paid dividends in the past and does not expect to pay dividends in the foreseeable future. As a result, a zero expected dividend yield is used. Due to the limited amount of option exercises, the Company used the simplified method to compute the expected term for options granted to employees which averages the weighted average vesting period and the contractual term on the valuation date.

The Company also grants stock options with performance conditions and market conditions. The Company does not record compensation expense for these options until it is deemed probable that the performance condition will be met. Options with performance and market conditions were immaterial as of December 31, 2024 and 2025.

The Company estimates the fair value of RSUs based on the fair market value of the Company's common stock on the date of grant. RSUs granted during the year ended December 31, 2025 include both a service-based and performance-based liquidity event vesting condition. Compensation cost related to these RSUs must be recognized over the requisite service period using the accelerated attribution method, if it is probable that the performance-based liquidity event vesting condition will be satisfied. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

***Employee Benefit Plan***

The Company sponsors a qualified 401(k) defined contribution plan covering eligible employees in the United States. There were no employer contributions under this plan for the years ended December 31, 2023, 2024, and 2025. The Company also sponsors retirement plans in many of the countries it operates in outside of the United States. Employer contributions to these plans were $1.1 million, $1.5 million, and $1.7 million for the years ended December 31, 2023, 2024, and 2025, respectively.

***Income Taxes***

The Company utilizes the asset and liability method to account for income taxes, under which deferred tax assets and liabilities arise from the temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated financial statements, as well as from net operating loss and tax credit carryforwards. Deferred tax amounts are determined by using the tax rates expected to

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be in effect when the taxes will actually be paid, or refunds received, as provided for under currently enacted tax law.

A valuation allowance is recorded for deferred tax assets if it is not more likely than not that some portion or all of the deferred tax assets will be realized. As of December 31, 2024 and 2025, the Company evaluated the realizability of the deferred tax assets considering positive and negative evidence and has recorded a full valuation allowance against certain deferred tax assets as it does not believe it is more likely than not that the deferred tax assets will be realized in future years. The Company monitors the realizability of their deferred tax assets taking into account all relevant factors at each reporting period. If it is determined that deferred tax assets would be realized in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions on the basis of a two-step process which includes (1) determining whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company reevaluates the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues, and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an additional charge to the tax provision in the period. The Company classifies accrued interest and penalties associated with uncertain tax positions together with the related liability, and the expenses incurred related to such accruals are included in the provision for income taxes in the consolidated statements of operations.

***Net Loss Per Share Attributable to Common Stockholders***

The Company follows the two-class method when computing net loss per common share when instruments are issued that meet the definition of participating securities. The two-class method determines net income (loss) per common share and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income (loss) available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income (loss) for the period had been distributed. In a net loss period, losses are only allocated if such participating securities have contractual obligations to fund such losses.

The Company's Series 2 preferred stock and Series 3 preferred stock are participating securities. The holders of the Series 2 preferred stock and Series 3 preferred stock are entitled to dividends in preference to common stockholders on an as-converted basis, if declared by the Company. Such dividends are not cumulative. Any remaining earnings would be distributed among the holders of common stock on a pro-rata basis. These participating securities do not contractually require the holders of such shares to participate in the Company's losses. As such, net losses for the periods presented were not allocated to the Company's participating securities.

Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The diluted net income (loss) per share is computed by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. Diluted net income (loss) per share is the same as basic net income (loss) per share in periods when the effects of potentially dilutive shares of common stock are anti-dilutive.

***Deferred Offering Costs***

Deferred offering costs, which consist of direct incremental legal, accounting, consulting and other fees relating to an initial public offering are capitalized. The deferred offering costs will be offset against initial public offering proceeds upon the consummation of the initial public offering. In the event the

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planned initial public offering is terminated, the deferred offering costs will be expensed. There were no deferred offering costs incurred as of December 31, 2024. As of December 31, 2025, there were $7.7 million of deferred offering costs recorded within prepaid expenses and other current assets on the consolidated balance sheet.

***Recent Accounting Pronouncements***

<u>Recent Accounting Pronouncements Not Yet Adopted</u>

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This new standard is effective for the Company's annual period beginning January 1, 2026. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently evaluating the impact of the guidance on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, *Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses* ("ASU 2024-03"). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions within the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Clarifying the Effective Date. The amendments in this update may be applied either prospectively or retrospectively, and are effective for fiscal years beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, *Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software* ("ASU 2025-06"). ASU 2025-06 modernizes the accounting for costs related to internal-use software in ASC 350-40 to reflect the software development approaches currently used. Specifically, the FASB observed that software is not always developed in a linear manner, which is an underlying tenet of the existing internal-use software capitalization framework. To clarify how the guidance applies to both linear and nonlinear software development, the ASU removes all references to "development stages" from ASC 350-40 and changes the criteria to determine when development cost capitalization should begin. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, with early adoption permitted. Entities are permitted to apply the ASU on a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact of adopting this new accounting guidance on its consolidated financial statements and related disclosures.

**NOTE 2. FAIR VALUE MEASUREMENTS**

The carrying amounts of certain of the Company's financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values due to their short-term maturities.

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The fair value measurements of financial instruments that are measured at fair value on a recurring basis consisted of the following (in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Notes | $— | $— | $544106 | $544106 | $— | $— | $660324 | $660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities | $— | $— | $544106 | $544106 | $— | $— | $660324 | $660324 |

---

The Company did not make any transfers between the levels of the fair value hierarchy during the years ended December 31, 2024 and 2025.

As of December 31, 2024 and 2025, the 2021 Notes total contractual principal and accrued in kind interest amounted to $486.6 million and $525.5 million, respectively, resulting in a difference between the aggregate fair value and the aggregate unpaid balance of $57.5 million and $134.9 million, respectively.

To determine the fair value of the non-convertible component of the 2021 Notes, the Company uses an income approach to estimate the present value under each settlement or conversion scenario and probability-weighted the conclusions according to certain assumptions. A Black-Scholes model was used to estimate the value of the conversion option component under the same scenarios. The Company considered the portion of the total change in fair value that excludes the amount resulting from a change in base market risk to be the result of a change in instrument-specific credit risk. To determine how much of the fair value change should be a result of changes in the market versus changes in the instrument-specific risk, the Company calculated the total change in fair value of the 2021 Notes less changes in fair value of the 2021 Notes arising from changes in the base market risk. The change in fair value resulting from market risks and instrument-specific credit risk are recorded to other expense, net and accumulated other comprehensive loss, respectively.

A summary of the net changes in the fair value of the 2021 Notes was as follows (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2024** | **2025** |
| Balance, beginning of period | $420538 | $492321 | $544106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss recognized in other expense, net | 77182 | 40950 | 124957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss (gain) recognized in other comprehensive (loss) income | (5399) | 10835 | (8739) |
| Balance, end of period | $492321 | $544106 | $660324 |

---

The Company issued warrants to purchase shares of the Company's Series B convertible preferred stock which are recognized in other long-term liabilities on the consolidated balance sheets, as the convertible preferred shares underlying the warrants are contingently redeemable for cash. The convertible preferred stock warrants are remeasured to fair value each reporting period based on unobservable Level 3 inputs. The fair value of the warrant and changes in fair value of the warrant for the years ended December 31, 2024 and 2025 were not material.

Certain assets and liabilities are measured at fair value on a nonrecurring basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment or when a new liability is being established that requires fair value measurement. As discussed in <u>[Note 7](#i2daaa9faa0b24be68f6320125a1b1051_194)</u> – Leases, during the year ended December 31, 2024, the Company recognized an impairment loss of $1.6 million related to an operating lease ROU asset at its corporate office space. The Company had no non-recurring fair value measurements during the years ended December 31, 2023 and 2025.

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**NOTE 3. PREPAID EXPENSES AND OTHER CURRENT ASSETS**

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

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Prepaid expenses | $22530 | $27292 |
| Spare parts, net | 22535 | 20870 |
| Value-added taxes receivable | 7916 | 8953 |
| Other current assets | 5026 | 12060 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $58007 | $69175 |

---

**NOTE 4. PROPERTY AND EQUIPMENT, NET**

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

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deployed vehicle assets | $398429 | $491361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undeployed vehicle assets | 45137 | 21196 |
| Non-vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized internal-use software | 72343 | 82856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Leasehold improvements | 5239 | 7488 |
| &nbsp;&nbsp;&nbsp;&nbsp;Furniture and fixtures | 868 | 941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 1125 | 1746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment | 523141 | 605587 |
| Accumulated vehicle asset depreciation | (202277) | (275452) |
| Accumulated non-vehicle asset depreciation & amortization | (59575) | (75618) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment, net | $261289 | $254517 |

---

The following table presents amounts recognized in the consolidated statements of operations related to property & equipment (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Vehicle asset depreciation expense | $92486 | $73168 | $107449 |
| Non-vehicle asset depreciation and amortization expense | 13854 | 16381 | 17224 |
| Loss on vehicle asset disposals | 3419 | 1295 | 622 |

---

As a result of the Company's annual vehicle asset useful life reassessment in the fourth quarter of 2023, the estimated useful lives for certain of its vehicle assets were updated on a prospective basis, effective January 1, 2024. The Company estimates these changes decreased vehicle asset depreciation expense by $27.2 million for the year ended December 31, 2024.

Effective January 1, 2025, the Company changed its depreciation methodology for vehicle assets from a usage-based method to a straight-line method. The Company estimates this change increased vehicle asset depreciation expense by $14.8 million for the year ended December 31, 2025.

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**NOTE 5. ACCRUED LIABILITIES**

Accrued liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Accrued purchases | $21722 | $9625 |
| Accrued operations related expenses | 19655 | 29546 |
| Short-term claims reserve | 17892 | 14212 |
| Accrued legal settlements | 10733 | 4590 |
| Accrued escheatment | 9386 | 12350 |
| Accrued insurance | 6046 | 9631 |
| Other | 1667 | 2107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total accrued liabilities | $87101 | $82061 |

---

**NOTE 6. OTHER LONG-TERM LIABILITIES**

Other long-term liabilities consisted of the following (in thousands):

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Long-term claims reserve | $22692 | $38227 |
| Non-income tax reserves | 2415 | 2984 |
| Other | 3400 | 4161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other long-term liabilities | $28507 | $45372 |

---

**NOTE 7. LEASES**

The following table presents certain information related to the costs for operating leases (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Operating lease costs | $15321 | $14952 | $15702 |
| Short-term lease costs | 1671 | 2443 | 1765 |
| Sublease income | 1379 | 1000 | 424 |

---

Variable lease costs for the years ended December 31, 2023, 2024 and 2025 were not material.

The following table presents supplemental information used to calculate the present value of operating lease liabilities:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2024** | **2025** |
| Weighted-average remaining lease term | 2.3 years | 3.6 years | 3.8 Years |
| Weighted-average discount rate | 8.9% | 9.0% | 9.1% |

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The following table presents certain supplemental information related to the cash flows for operating leases (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cash paid for amounts included in the measurement of lease liabilities | $16047 | $16368 | $17290 |
| ROU assets obtained in exchange for new lease liabilities | 16495 | 19743 | 11859 |

---

The following table reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded in the consolidated balance sheets (in thousands):

---

| | |
|:---|:---|
| 2025 | $12949 |
| 2026 | 9171 |
| 2027 | 6384 |
| 2028 | 3342 |
| 2029 | 1204 |
| Thereafter | 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total undiscounted lease payments | 36122 |
| Less: Present value discount | (5306) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total lease liabilities | $30816 |

---

The Company recognized no impairment losses relating to operating lease ROU assets during the years ended December 31, 2023 and 2025. During 2024, the Company recognized an impairment loss of $1.6 million related to an operating lease ROU asset at its corporate office space.

**NOTE 8. COMMITMENTS AND CONTINGENCIES**

***Letters of Credit***

The Company maintains various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual arrangements. The letters of credit are collateralized by restricted cash. As of December 31, 2024 and 2025, the Company had outstanding balances of $57.7 million, and $75.5 million, respectively.

***Indemnification***

The Company has entered into indemnification provisions under agreements with other parties in the ordinary course of business, including governmental entities and other business partners. The Company has agreed to indemnify and defend the indemnified party's claims and related losses suffered or incurred by the indemnified party arising from actual or threatened third-party claims related to the Company's activities. It is not possible to determine the potential loss resulting from the contractual indemnification obligations because of the distinctive facts involved in any potential action arising from each indemnification provision. As of December 31, 2025, some contractual indemnification obligations were accrued with personal injury matters. See the "Personal Injury Matters" section below for more information.

The Company's Bylaws provide that it will indemnify directors and officers against certain costs and liabilities that may arise by reason of their status or service to the Company.

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***Legal Proceedings***

The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, regulatory inquiries, and governmental investigations in the ordinary course of business, which may include litigation by riders and third parties (individually or as class actions) alleging, but not limited to, various wage and expense claims, violations of state or federal laws, product liability and personal injury claims. The Company has determined that, except as disclosed below, no disclosure of estimated loss is required for these matters because: (1) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such matters (2) a reasonably possible loss or range of loss cannot be estimated, or (3) such estimate is immaterial.

Due to the inherent nature of litigation, the outcomes of the Company's current and potential future legal proceedings are not possible to predict with any certainty. For certain matters for which a material loss is probable and reasonably estimable, an estimate of the amount of loss is recorded in the consolidated financial statements. Until there is finality to the resolution of the legal matters, the exposure to a loss individually, or in the aggregate may differ from the amount recorded. Legal fees are expensed as incurred.

<u>Personal Injury Matters</u>

The Company is currently named as a defendant in a number of matters related to accidents or other incidents involving the use of its vehicles brought by riders and third parties. The Company disputes the allegations and continues to defend itself vigorously against such claims. The Company does not believe that these existing or threatened claims are individually likely to have a material impact on its business, financial condition or results of operations. Notwithstanding such, litigation and claims are inherently unpredictable, and legal proceedings arising from such incidents, individually or in the aggregate, could have a material impact on the Company's business, financial condition and results of operations. Additionally, despite the outcome, litigation may have an adverse impact to the Company because of defense and settlement costs individually and in the aggregate, including the diversion of management resources to defend such claims, and other factors.

As of December 31, 2024 and 2025, the Company has claims reserves of $40.6 million and $52.4 million, respectively, to cover the estimated costs for personal injury claims incurred but not paid and personal injury claims that have been incurred but not yet reported, as well as certain contractual indemnification obligations as described in the "Indemnification" section above. Additionally, as of December 31, 2024 and 2025, the Company has a reserve of $10.7 million and $4.6 million, respectively, to cover settled but unpaid claims.

<u>Non-Income Tax Matters</u>

The Company is under audit by various domestic and foreign tax authorities with regards to non-income tax matters. The Company accrues non-income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. Due to the inherent complexity and uncertainty of these matters and judicial process in certain jurisdictions, the final outcome may be materially different from the Company's expectations.

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**NOTE 9. CONVERTIBLE NOTES AND TERM LOAN**

***2021 Notes***

Between October and November 2021, the Company issued the 2021 Notes with an initial aggregate principal amount of $417.6 million and a maturity date of October 29, 2025. In October 2023, the maturity date was amended to October 29, 2026. The 2021 Notes initially accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by another 1.0% in October 2023, and by 1.0% semi-annually thereafter up to a maximum of 8.0%. At the election of the Company, interest is to be paid in cash or by increasing the principal amount of the 2021 Notes by payment in kind ("PIK interest"). The Company has elected to pay PIK interest.

The 2021 Notes contain various conversion options upon the occurrence of certain events such as an IPO, change of control, or equity financing. In the event of an IPO or change of control, the 2021 Notes will convert into common stock at a price per share limited to the lesser of (i) a range of 75% to 80% of the applicable transaction price per share of common stock and (ii) a cap price per share as defined in the note purchase agreement. In the event of an equity financing, the 2021 Notes will convert into the equity securities issued based on such equity securities' price per share in such financing. If the 2021 Notes have not been converted or otherwise settled at maturity, the principal plus a premium of 25% becomes due and payable at maturity. The 2021 Notes are secured by substantially all of the Company's assets.

***2020 Notes***

Between May and June 2020, the Company issued convertible secured promissory notes (the "2020 Notes") in the aggregate principal amount of $170.0 million. Of the aggregate principal amount, $85.0 million was issued to Uber (the "2020 Uber Note") and the remaining $85.0 million was issued to other investors (the "2020 Investor Notes"). The 2020 Notes accrue non-compounding interest at a fixed rate of 4.0% per annum and mature on May 7, 2027. Accrued interest either converts into common shares or becomes payable in accordance with the conversion and settlement options described below. If not earlier converted, the principal and accrued interest of the 2020 Notes becomes due and payable at the maturity date.

The holders of the 2020 Investor Notes also received warrants to acquire a total of 289,737 shares of common stock at an exercise price of $6.72 per share. The warrant has a term of seven years and may be exercised on a cashless basis at any time based on their fair market value at the time of conversion, in which event the Company will not receive any proceeds. The warrants were recorded as equity at their relative fair value of $0.8 million. The remaining $84.2 million of the proceeds received were allocated to the 2020 Investor Notes. There were no exercises during the years ended December 31, 2023, 2024 and 2025.

At issuance, the total debt discount related to the 2020 Uber Note and 2020 Investor Notes was $0.4 million and $1.2 million, respectively. This amount is being amortized as additional interest expense over the term of the 2020 Notes using the effective interest rate method at an effective interest rate of 4.05%. Amortization of the debt discount totaled $0.2 million for each of the years ended December 31, 2023, 2024 and 2025.

The 2020 Notes contain various conversion and settlement options: (i) conversion of the principal amount to Series 3 preferred stock (in the case of the 2020 Uber Note) or Series 2 preferred stock (in the case of the 2020 Investor Notes), with the accrued interest settled in cash or common stock at the Company's election; or (ii) in the event of a change of control of the Company or IPO, the principal amount and accrued interest will, at the election of the holder, either become due and payable or convert into common stock. The conversion price of the 2020 Notes is $16.73 per share of common stock. The 2020 Notes are secured by substantially all of the Company's assets.

Several of the holders of the 2021 Notes and 2020 Notes are related parties of the Company. See Note 15 – Related Party Transactions for more information.

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***Senior Secured Term Loan***

In October 2023, the Company entered into a senior secured term loan with certain lenders (the "Senior Secured Term Loan") with a principal amount of $115.0 million, an interest rate of 10.0% per annum and a maturity date of September 30, 2026, upon which the principal balance is due in full. The Company incurred debt issuance costs related to legal and underwriting fees of $2.2 million and was required to pay a closing fee of $2.3 million, all of which are being amortized to interest expense over the term of the loan. The proceeds of the Senior Secured Term Loan were used to fully repay the Company's prior term loan and the Company incurred a loss on extinguishment of $0.9 million in interest expense in the consolidated statements of operations.

The Company's obligations under the Senior Secured Term Loan are backed by a guaranty from Uber, a related party of the Company. The Senior Secured Term Loan is secured by substantially all of the Company's assets.

The Senior Secured Term Loan agreement and the note purchase agreements for the 2021 Notes and 2020 Notes contain customary covenants restricting the Company and its subsidiaries ability to incur debt, incur liens, make investments, transfer assets and undergo certain fundamental changes, as well as certain financial covenants specified in the contractual agreement. As of December 31, 2025, the Company was in compliance with all covenants.

***Aggregate debt maturities and expenses***

As of December 31, 2025, future principal payments for the Company's convertible notes and term loan were as follows (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Convertible Notes** | **Term Loan** | **Total** |
| 2026 | 560798 | 115000 | 675798 |
| 2027 | 169990 |  | 169990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total future principal payments | $730788 | $115000 | $845788 |

---

Future principal payments for convertible notes includes $143.2 million of PIK Interest on the 2021 Notes. Future principal payments for convertible notes does not include the premium of 25%, on the 2021 Notes, that becomes due and payable at maturity.

The following table presents interest expense recognized related to the term loan and 2020 Notes (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Contractual interest on term loan | $12416 | $11436 | $11500 |
| Contractual interest on 2020 Notes | 6800 | 6800 | 6800 |
| Amortization of debt discount and issuance costs | 1508 | 1741 | 1749 |
| Amortization of end of term payment | 1474 |  |  |
| Loss on debt extinguishment | 902 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $23100 | $19977 | $20049 |

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**NOTE 10. CONVERTIBLE PREFERRED STOCK**

Convertible preferred stock consisted of the following as of December 31, 2025 (in thousands, except share and per share amounts):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Authorized** | **Shares Issued and Outstanding** | **Conversion Price Per Share** | **Aggregate Liquidation Preference** | **Carrying Value** |
| Series 1 (junior): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A | 1111852 | 987919 | $3.85 | $3799 | $9086 |
| &nbsp;&nbsp;&nbsp;&nbsp;A-1 | 257340 | 108716 | 0.71 | 77 | 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;B | 1960269 | 866395 | 16.02 | 13884 | 9555 |
| &nbsp;&nbsp;&nbsp;&nbsp;C | 3546883 | 3110254 | 43.78 | 136176 | 54534 |
| &nbsp;&nbsp;&nbsp;&nbsp;D | 2064949 | 1843205 | 58.07 | 107034 | 39894 |
| Series 2 (junior) | 5952381 |  |  |  |  |
| Series 3 (senior) | 5952381 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 20846055 | 6916489 |  | $260970 | $114027 |

---

Convertible preferred stock consisted of the following as of December 31, 2024 (in thousands, except share and per share amounts):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Shares Authorized** | **Shares Issued and Outstanding** | **Conversion Price Per Share** | **Aggregate Liquidation Preference** | **Carrying Value** |
| Series 1 (junior): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A | 1111852 | 987919 | $3.85 | $3799 | $9085 |
| &nbsp;&nbsp;&nbsp;&nbsp;A-1 | 257340 | 108716 | 0.71 | 77 | 958 |
| &nbsp;&nbsp;&nbsp;&nbsp;B | 1960269 | 866395 | 16.02 | 13884 | 9555 |
| &nbsp;&nbsp;&nbsp;&nbsp;C | 3546883 | 2290675 | 43.78 | 100293 | 40160 |
| &nbsp;&nbsp;&nbsp;&nbsp;D | 2064949 | 1843205 | 58.07 | 107034 | 39894 |
| Series 2 (junior) | 5952381 |  |  |  |  |
| Series 3 (senior) | 5952381 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 20846055 | 6096910 |  | $225087 | $99652 |

---

The Series 1, Series 2, and Series 3 convertible preferred stock are collectively referred to as the "Preferred Stock". The characteristics of the Company's Preferred Stock are as follows:

***Voting***

Holders of the Company's Preferred Stock are entitled to vote on all matters presented to the stockholders. Each holder of Preferred Stock is entitled to a number of votes for each share held equal to the number of shares of common stock into which that share of Preferred Stock is convertible as of the record date for the stockholders' meeting. Unless required by law or the Company's Amended and Restated Certificate of Incorporation, holders of Preferred Stock shall vote together with holders of common stock as a single class and on an as-converted to common stock basis.

***Director Elections***

The holders of Series 3 preferred stock, voting exclusively as a separate class on an as-converted to common stock basis are entitled to elect one director. The holders of Series 1 and Series 2 preferred stock, voting together exclusively as a separate class on an as converted basis, are entitled to elect one director. The holders of common stock, voting exclusively as a separate class, are entitled to elect two

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directors of the Company. The remaining directors are elected by the holders of common stock and all series of Preferred Stock, voting together as a single class on an as-converted basis.

***Dividends***

The Company may not declare, pay or set aside any dividends on shares of any other class or series of capital stock unless the holders of the Series 2 and Series 3 preferred stock (the "Series Preferred Stock") first receive, or simultaneously receive, a dividend on each outstanding share of Series Preferred Stock. As of December 31, 2023, 2024 and 2025, no dividend has been declared or paid on any class of the Company's capital stock.

The required dividend per share for each series of Preferred Stock will be the greater of the following scenarios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in case of a dividend on common stock or any stock that is convertible into common stock: an amount equal to the dividend would be paid if all shares of Preferred Stock had been converted into common stock on the dividend record date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in case of a dividend on any other class that is not convertible into common stock: at a rate per share of such series of Series Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the applicable original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the applicable original issuance price (as defined in the Company's 9th Amended and Restated Certificate of Incorporation).

If dividends are declared on more than one class of stock on the same date, the dividend obligation to the Preferred Stock will be calculated based on the class of stock that results in the highest possible dividend payment for them. The original issuance price is subject to adjustment for any stock splits, stock dividends, recapitalizations, or similar events.

***Liquidation Preference***

In the event of liquidation, holders of Series 3 preferred stock are entitled to receive, before any payment to holders of Series 1 and Series 2 preferred stock or common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount as would have been payable had such shares been converted into common stock.

After payment to the holders of shares of Series 3 preferred stock, holders of Series 2 preferred stock are entitled to receive, before any payment to the holders of Series 1 preferred stock or common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount as would have been payable had such shares been converted into common stock.

After payment to the holders of Series 3 and 2 preferred stock, holders of Series 1 preferred stock shall be entitled to receive, before any payment to holders of common stock, an amount per share equal to the greater of (i) the applicable original issue price, plus any unpaid dividends, or (ii) such amount per share as would have been payable had such shares been converted into common stock.

If upon any such liquidation, dissolution or winding up of the Company, the assets of the Company available for distribution are insufficient to pay the holders of a series of Preferred Stock the full amount to which they are entitled, the holders will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

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Original issue prices are reflected in the Company's 9th Amended and Restated Certificate of Incorporation.

***Redemption***

The holders of Preferred Stock have no voluntary rights to redeem their shares. However, the Preferred Stock has deemed liquidation provisions which require the shares to be redeemed upon a change in control or other deemed liquidation events. Although the Preferred Stock is not mandatorily or currently redeemable, a deemed liquidation event would constitute a redemption event outside the Company's control. As a result of these liquidation features, all shares of Preferred Stock have been classified outside of stockholders' deficit and presented as mezzanine equity on the consolidated balance sheet. The carrying values of the Company's Preferred Stock have not been accreted to their redemption values as these events have not occurred and are not considered probable of occurring given the Company has no plan for a deemed liquidation event in the near future. Subsequent adjustments of the carrying values to redemption values will be made only if and when it becomes probable the preferred shares will become redeemable.

***Conversion***

Each share of Preferred Stock is convertible, at the option of the holder, into shares of common stock as determined by dividing the applicable original issue price by the applicable conversion price in effect at the time of conversion. The conversion price initially equals the original issue price in effect for each series, subject to adjustment in accordance with anti-dilution provisions contained in the Company's 9th Amended and Restated Certificate of Incorporation. This conversion does not require any additional cash payment. The right to convert terminates immediately prior to the closing of a liquidation, dissolution, winding-up, or a deemed liquidation event. As of December 31, 2023, 2024 and 2025, no shares of Preferred Stock were converted into the Company's common stock.

All outstanding shares of Preferred Stock will automatically convert into shares of common stock at the then effective conversion rate, upon the occurrence of either (a) a qualified IPO which results in at least $50.0 million of gross proceeds to the Company or (b) a vote of the Requisite Holders of Preferred Stock and the holders of a majority of the Series 1 Preferred Stock (each as defined in the Company's 9th Amended and Restated Certificate of Incorporation). Once converted, these shares of Preferred Stock cannot be reissued by the Company.

**NOTE 11. STOCK-BASED COMPENSATION**

On February 7, 2017, the Company adopted the Neutron Holdings, Inc., 2017 Stock Incentive Plan (the "Plan") pursuant to which the Board of Directors may grant non-statutory stock options to purchase shares of the Company's common stock to outside directors and consultants and either non-statutory or incentive stock options to purchase shares of the Company's common stock to employees. The Plan has been amended from time to time, to authorize additional shares and permit the grant of restricted stock and restricted stock units. As of December 31, 2025, the Company was authorized to issue up to 14,345,224 shares of common stock and 1,826,471 shares were available for issuance under the Plan.

***Stock Options***

Stock options are typically granted with an exercise price equal to the fair value of common stock at the grant date and have a 10 year contractual term. Certain awards vest monthly over a three year period, while other awards cliff vest after one year and then vest monthly over the remaining two years.

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Stock option activity was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Exercise Price Per Share** | **Weighted-Average Remaining Contractual Life**<br>**(in years)** | **Aggregate Intrinsic Value** <br>**(in thousands)** |
| Outstanding as of January 1, 2025 | 7932115 | $9.14 | 7.8 | $36401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted | 294188 | 13.96 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (701305) | 7.88 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited | (789921) | 10.18 |  |  |
| Outstanding as of December 31, 2025 | 6735077 | $9.36 | 6.9 | $140335 |
| Vested and exercisable as of December 31, 2025 | 4999199 | $8.58 | 6.4 | $108174 |
| Vested and expected to vest as of December 31, 2025 | 6735077 | $9.36 | 6.9 | $140335 |

---

The total fair value of shares vested during the years ended December 31, 2024 and 2025, was $8.6 million and $34.9 million, respectively.

The aggregate intrinsic value of stock options exercised during the years ended December 31, 2024 and 2025, was $1.6 million and $8.0 million, respectively.

As of December 31, 2024 and 2025, the Company had zero unvested early exercised shares. As of December 31, 2024 and 2025, the Company also had 850,156 shares issued that remain subject to repayment of nonrecourse notes.

The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted:

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Expected term | 5.8 years | 5.8 years | 5.7 years |
| Expected volatility | 65.3% | 71.9% | 56.5% |
| Risk-free interest rate | 4.2% | 4.3% | 4.1% |
| Expected dividend yield | —% | —% | —% |
| Weighted-average fair value per option granted | $2.96 | $7.53 | $7.80 |

---

***RSUs***

The Company grants RSUs that generally vest upon the satisfaction of both a time-based service requirement and a performance-based liquidity event requirement. The service-based condition is satisfied equally over 12 quarters, provided the grantee remains in continuous service. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

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The following table summarizes the activity related to RSUs for the year ended December 31, 2025:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Grant-Date Fair Value Per Share** |
| Unvested and Outstanding as of January 1, 2025 |  | $— |
| Granted | 1855295 | 19.07 |
| Vested |  |  |
| Forfeited | (92929) | 17.00 |
| Unvested and Outstanding as of December 31, 2025 | 1762366 | $19.18 |

---

The Company determines the grant-date fair value of these RSUs based on the market price of its common stock on the date of grant. The Company does not recognize stock-based compensation expense for these awards until the performance condition is deemed probable of achievement, which occurs upon the consummation of the qualifying liquidity event.

Of the RSUs outstanding as of December 31, 2025, 308,460 had met their service condition. If the performance vesting condition had been met on December 31, 2025, the Company would have recorded stock-based compensation of $12.1 million and unrecognized stock-based compensation related to the unvested RSUs as of December 31, 2025 would have been $21.8 million, and that would have been recognized over a weighted-average remaining requisite service period of 1.3 years.

***Stock-Based Compensation Expense***

The Company recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Cost of revenue | $58 | $36 | $28 |
| Selling, general and administrative | 5474 | 5840 | 5888 |
| Operations and support | 1550 | 1697 | 1177 |
| Research and development | 4403 | 4235 | 4105 |
| Total stock-based compensation expense | $11485 | $11808 | $11198 |

---

The Company capitalized $1.6 million, $2.0 million, and $1.0 million of stock-based compensation expense in software development costs for the years ended December 31, 2023, 2024 and 2025, respectively.

As of December 31, 2025, total compensation cost not yet recognized related to unvested stock options was $11.9 million, which is expected to be recognized over a weighted-average period of 1.3 years.

As of December 31, 2025, the Company had limited options outstanding subject to performance and market conditions. No stock-based compensation expense for these awards has been recorded as the performance conditions are not deemed probable of being met. Total compensation cost not yet recognized related to these awards was immaterial as of December 31, 2025.

As of December 31, 2024 and 2025, the Company has recorded a full valuation allowance against its U.S. deferred tax assets. As the Company believes it is more likely than not that stock option related tax benefits will not be realized, the Company does not record any net tax benefits related to exercised options.

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During 2023, the Board of Directors approved a reduction of the exercise price of 2,968,678 eligible current employee option shares to $8.20. All other terms set forth in the original option agreements remained unchanged. As a result of this repricing, the Company recognized incremental stock-based compensation expense of $1.9 million during the year ended December 31, 2023.

**NOTE 12. WARRANTS**

As of December 31, 2024 and 2025, the following warrants were outstanding:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issued in connection with** | **Warrant Shares** | **Exercise Price Per Share** | **Number of Warrant Shares Outstanding as of 12/31/2024** | **Number of Warrant Shares Outstanding as of 12/31/2025** | **Expiration date** |
| Common Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Atel Loan Agreement | 20805 | $14.18 | 20805 | 20805 | January 2028 |
| &nbsp;&nbsp;&nbsp;SVB Loan Agreement | 3008 | 14.18 | 3008 | 3008 | January 2028 |
| &nbsp;&nbsp;&nbsp;BMO Credit Agreement | 7618 | 78.76 | 7618 | 7618 | March 2030 |
| &nbsp;&nbsp;&nbsp;2020 Investor Note | 289737 | 6.72 | 261635 | 261635 | May - June 2027 |
| Preferred Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Uber Integration Agreement (Series 1-C) | 819579 | $0.07 | 819579 |  | May 2025 |
| &nbsp;&nbsp;&nbsp;TriplePoint Loan Agreement (Series B) | 11674 | 44.97 | 11674 | 11674 | March 2028 |

---

During the year ended December 31, 2025, the Company issued 819,579 shares of Series 1-C preferred stock upon the exercise of preferred stock warrants, issued in connection with the Uber Integration Agreement, for an aggregate exercise price of $0.1 million. No warrants for common or preferred stock were issued or exercised during the years ended December 31, 2023 and 2024.

**NOTE 13. OTHER EXPENSE, NET**

The components of other expense, net were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Loss on change in fair value of the 2021 Notes | $(77182) | $(40950) | $(124957) |
| Foreign currency exchange (losses) gains, net | 3265 | (22014) | 16673 |
| Interest income | 5148 | 6802 | 8673 |
| Other (losses) gains, net  | 258 | (42) | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | $(68511) | $(56204) | $(99005) |

---

**NOTE 14. INCOME TAXES**

The domestic and foreign components of loss before income taxes were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Domestic loss | $(125143) | $(29603) | $(75547) |
| Foreign income | 8868 | 86 | 26317 |
| Loss before income taxes | $(116275) | $(29517) | $(49230) |

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The components of the provision for income taxes were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Current tax provision: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal | $— | $192 | $2 |
| &nbsp;&nbsp;&nbsp;&nbsp;State and local | 95 | 603 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | 10145 | 2345 | 9029 |
| Total current tax provision | 10240 | 3140 | 9206 |
| Deferred tax provision (benefit): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State and local |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | (4157) | 1256 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax provision (benefit) | (4157) | 1256 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total provision for income taxes | $6083 | $4396 | $10079 |

---

The following is a reconciliation of the federal statutory income tax rate to the Company's effective income tax rate:

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Federal statutory income tax rate | 21.0% | 21.0% | 21.0% |
| State tax, net of federal benefit | (0.6) | 2.8 | (6.7) |
| Foreign tax rate differential | (3.0) | (1.3) | (7.6) |
| Change in valuation allowance | (2.2) | (8.8) | 24.2 |
| Stock options | (1.2) | (5.2) | (2.0) |
| Tax impact of convertible note | (15.0) | (34.0) | (56.2) |
| Uncertain tax positions | (1.5) | 12.7 | (1.0) |
| Tax credits | 2.5 | 3.0 | 6.9 |
| Other | (5.2) | (5.1) | 0.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective income tax rate | (5.2)% | (14.9)% | (20.5)% |

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The Company's deferred taxes consisted of the following at (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2024** | **2025** |
| Net operating losses | $246801 | $246679 |
| Accruals and reserves | 14737 | 19028 |
| Stock-based compensation and other equity awards | 35399 | 9611 |
| Convertible note issuance costs | 1299 |  |
| Capitalized research and development | 17902 | 17784 |
| Lease liabilities | 3376 | 2674 |
| Interest expense carryforwards | 9152 | 6076 |
| Other temporary differences | 9774 | 22393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets before valuation allowance | 338440 | 324245 |
| Valuation allowance | (305506) | (294406) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets—net of valuation allowance | 32934 | 29839 |
| Fixed assets | (23654) | (18518) |
| Lease right-of-use assets | (2774) | (2598) |
| Other temporary differences |  | (2445) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (26428) | (23561) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets | $6506 | $6278 |

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Net operating losses and tax credit carryforwards were as follows as of December 31, 2025 (in thousands):

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| | |
|:---|:---|
| Net operating losses, federal | $943954 |
| Net operating losses, state | 740881 |
| Net operating losses, foreign | 39494 |
| Research & development credits, federal | 13293 |
| Research & development credits, state | 6236 |

---

The Company has domestic federal and state net operating loss carryforwards that begin to expire in 2037 and foreign net operating loss carryforwards in various jurisdictions with various expirations.

As of December 31, 2025, the Company had research and development tax credit carryforwards for federal income tax purposes and California state tax purposes. If not utilized, the federal research and development tax credit carryforwards will begin to expire in 2037. The California state research credit will carry forward indefinitely.

Federal and state laws can impose substantial restrictions on the utilization of net operating loss and tax credit carry-forwards in the event of an "ownership change," as defined in Section 382 of the Internal Revenue Code. The Company has experienced ownership changes since inception and determined that its utilization of net operating loss carryforwards will be subject to annual limitations. However, it is not expected that the annual limitations will result in the expiration of tax attribute carryforwards prior to utilization.

The Company is subject to income taxes in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Additionally, the Company's operations in certain jurisdictions remain open for examination for tax years 2017 and onwards.

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Changes in unrecognized tax benefits were as follows (in thousands):

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| | |
|:---|:---|
| Unrecognized tax benefits as of December 31, 2024 | $8213 |
| Additions based on tax positions related to current year | 545 |
| Additions for tax positions of prior years | 467 |
| Unrecognized tax benefits as of December 31, 2025 | $9225 |

---

As of December 31, 2024 and 2025, $6.5 million and $7.0 million, respectively, of unrecognized tax benefits have been netted against deferred tax assets because the unrecognized tax benefits reduce a net operating loss, similar tax loss or tax credit carryforward. As of December 31, 2025, the Company does not expect the unrecognized tax benefits, if recognized, to have a material impact on the effective tax rate.

The Company did not incur any material interest expenses or penalties or have related outstanding liabilities in the consolidated balance sheets associated with unrecognized tax benefits for the year ended December 31, 2025.

**NOTE 15. RELATED PARTY TRANSACTIONS**

***Uber***

The Company entered into an Integration Agreement with Uber, an investor who owns greater than 10% of the Company, dated August 10, 2018, as amended from time to time and most recently amended and restated as of September 15, 2025. The Integration Agreement allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. The Integration Agreement is currently effective through December 31, 2028. The Company receives revenue for these bookings and pays Uber a service fee in exchange. The revenue recognized through the Integration Agreement consists solely of lease revenue. Service fees are recorded in cost of revenue in the consolidated statements of operations. As a result of the Integration Agreement, Uber also received common stock warrants in 2018.

The total revenue earned through and related service fees charged from the Integration Agreement were as follows (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue earned | $73537 | $108221 | $126641 |
| Service fees paid | 4393 | 12481 | 14953 |

---

The Company received funding from Uber in the form of the 2020 Uber Note and as part of the 2021 Notes, as discussed in Note 9 – Convertible Notes and Term Loan.

The Company and Uber are also party to the Amended Warrant Agreement, as discussed in Note 12 – Warrants.

The Company and Uber were also party to a Call Option Agreement dated May 7, 2020. The Call Option Agreement gave Uber the option to acquire all of the outstanding securities of the company at fair market value. Uber did not exercise the call option, and it expired on May 7, 2024.

***Other Related Parties***

As discussed in Note 1 – Description of Business and Summary of Significant Accounting Policies, the Company issued promissory notes to certain current and former members of management in connection with the exercise of Company stock options.

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The Company entered into a Note and Warrant Purchase Agreement with Andreessen Horowitz, an investor who owns greater than 10% of the Company, dated as of May 7, 2020, by and among the Company and the Lenders (as defined therein), and the convertible secured promissory note issued to funds affiliated with Andreessen Horowitz, thereunder. See Note 9 – Convertible Notes and Term Loan for additional information.

The Company entered into a Senior Secured Term Loan with Diameter which was guaranteed by an affiliate company, dated as of October 5, 2023. See Note 9 – Convertible Notes and Term Loan for additional information.

**NOTE 16. NET LOSS PER SHARE**

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Net loss attributable to common stockholders | $(122358) | $(33913) | $(59309) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 8665404 | 9083410 | 9662078 |
| Net loss per share attributable to common shareholders, basic and diluted | $(14.12) | $(3.73) | $(6.14) |

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The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share as the effect would have been antidilutive:

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Stock options | 6124046 | 7932115 | 6735077 |
| Early exercised stock options | 888848 | 850156 | 850156 |
| RSUs |  |  | 1762366 |
| Warrants for common stock | 293066 | 293066 | 293066 |
| Warrants convertible for preferred stock (Uber Integration Agreement) | 819579 | 819579 |  |
| Warrants convertible for preferred stock (TriplePoint Loan Agreement) | 11674 | 11674 | 11674 |
| 2020 Notes | 12759636 | 12729998 | 11470220 |
| Convertible preferred stock | 6096910 | 6096910 | 6916489 |
| Total | 26993759 | 28733498 | 28039048 |

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The 2021 Notes are only convertible upon the occurrence of certain events such as an IPO, change of control, or equity financing. The conversion price depends on the price of the equity securities issued in such events and the Company's capitalization at the time. As such, the conversion price and number of underlying shares for the 2021 Notes cannot be determined until a conversion-triggering event occurs. See Note 9 – Convertible Notes and Term Loan for additional information.

**NOTE 17. SEGMENTS**

***Operating Segments***

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the CODM in deciding how to allocate resources to an individual

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segment and in assessing performance. The Company's CODM is its Chief Executive Officer. The Company's CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company views its operations and manages its business as one operating and reportable segment, which is also a single reporting unit.

The CODM assesses performance of the Company and allocates resources based on consolidated net income (loss) as reported in the consolidated statements of operations. Consolidated net income (loss) is also used to monitor budget versus actual results.

The following table shows segment revenue, significant segment expenses, and the segment profit or loss measure for each financial statement period (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025** |
| Revenue | $521983 | $686630 | $886719 |
| Significant segment expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 106340 | 89549 | 124673 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 11485 | 11808 | 11198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue<sup>(a)</sup> | 249074 | 319333 | 420161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(a)</sup> | 106164 | 134680 | 160776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(a)</sup> | 41056 | 47159 | 49985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(a)</sup> | 32488 | 37132 | 49525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total segment expenses | 546607 | 639661 | 816318 |
| Operating income (loss) | (24624) | 46969 | 70401 |
| Interest expense | (23140) | (20282) | (20626) |
| Other expense, net | (68511) | (56204) | (99005) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (116275) | (29517) | (49230) |
| Provision for income taxes | 6083 | 4396 | 10079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(122358) | $(33913) | $(59309) |

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__________________

(a)Exclusive of stock-based compensation and depreciation and amortization shown separately.

***Geographic Region Information***

Operating revenues are recognized by geographic regions based on the origination of the point of sale. For more information on revenue recognition, see Note 1 – Description of Business and Summary of Significant Accounting Policies. Long-lived assets includes property plant and equipment and operating lease right-of-use assets.

The following tables set forth revenue and long-lived assets, net by geographic area (in thousands):

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| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2023** | **2024** | **2025 (1)** |
| United States of America | $173518 | $231240 | $282640 |
| United Kingdom | 79187 | 142578 | 196872 |
| France | 59575 | 68643 | 84533 |
| Other | 209703 | 244169 | 322674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $521983 | $686630 | $886719 |

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__________________

(1)The Company has revised the geographic revenue amounts for an error identified subsequent to the issuance of these consolidated financial statements. As a result, United States of America revenue increased by $39.7 million with a corresponding decrease in revenue from Other geographic areas.

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| | | |
|:---|:---|:---|
| | **As of December 31,** | **As of December 31,** |
| | **2024 (1)** | **2025 (1)** |
| United States of America | $141436 | $106710 |
| United Kingdom | 34874 | 35941 |
| Germany | 28640 | 35606 |
| Other | 86566 | 106212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long-lived assets, net | $291516 | $284469 |

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__________________

(1)The Company has revised the long-lived assets table above to remove amounts included within other long-term assets on its consolidated balance sheet. The Company has determined that such amounts should not be considered long-lived assets. As a result, total long-lived assets, net decreased by $19.6 million and $17.0 million as of December 31, 2024 and 2025, respectively.

**NOTE 18. SUBSEQUENT EVENTS**

The Company evaluated subsequent events from December 31, 2025, the date of these consolidated financial statements, through June 22, 2026, which represents the date the financial statements were available for issuance.

***Tariffs***

On February 20, 2026, the U.S. Supreme Court held in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act ("IEEPA") does not authorize a U.S. President to impose tariffs during peacetime national emergencies. As a result, on February 20, 2026, the U.S. President issued an executive order stating that such tariffs imposed under the IEEPA were no longer in effect. Thereafter, an executive order was issued by the U.S. President imposing tariffs pursuant to Section 122 of the Trade Act of 1974 for 150 days, effective on February 24, 2026. The Company is currently assessing the impact of these actions on its operations and consolidated financial statements, including our ability to recover incremental tariffs the Company has paid.

***Partial Recourse Notes***

Subsequent to December 31, 2025, the Company approved certain awards with a repayment of January 31, 2026 to be extended to March 13, 2026.

In February and March 2026, certain promissory note holders made cash payments of $9.1 million, in the aggregate, to the Company, to settle outstanding principal and accrued interest, of the same amount, on their promissory notes. Since the promissory note arrangements are, in substance, stock options, the cash payments to settle the promissory notes are considered an exercise of the stock options for 166,125 shares of common stock with a corresponding offset to additional paid-in-capital.

In March 2026, a promissory note holder surrendered to the Company 23,266 shares of common stock of the Company to settle the remaining $0.9 million of outstanding principal and accrued interest on their promissory note. Since the promissory note arrangements are, in substance, stock options, the settlement of the promissory note is considered an exercise of the stock options for 166,686 shares of common stock.

In March 2026, the Company repurchased 387,327 shares of common stock, originally pledged as security subject to repayment of certain promissory notes. The repurchase settled $19.9 million of outstanding principal and accrued interest on certain promissory notes at maturity. Since the promissory note arrangements are, in substance, stock options, the repurchase of common stock to settle the

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

promissory notes at maturity is considered an expiration of the stock options. In connection with the transaction, the Company elected to pay $1.6 million in tax withholding obligations on behalf of select note holders, recorded as selling, general and administrative expense on the consolidated statement of operations in the respective period.

In May 2026, the Company amended the terms of the remaining promissory notes outstanding, extending a due date condition from the completion of an IPO to two months following the completion of an IPO. Further, the interest rate on the promissory notes was amended to 4.08%, effective as of the amendment date.

***Warrants***

Subsequent to December 31, 2025, the Company issued 58,139 shares of common stock upon the exercise of common stock warrants, issued in connection with the 2020 Investor Note, for an aggregate exercise price of $0.4 million.

***Restricted Stock Units***

In March 2026, the Board of Directors approved the accelerated vesting of 16,289 RSUs as of the approval date. The modification resulted in a stock-based compensation expense of approximately $0.6 million within selling, general and administrative on the consolidated statement of operations.

Subsequent to December 31, 2025, the Company issued a total of 1,460,034 RSUs pursuant to the 2017 Plan to certain employees. These RSUs will vest upon satisfaction of both a service-based vesting condition and a liquidity-based vesting condition. Provided the employee remains in continued service with the Company, the service-based vesting condition will generally be satisfied quarterly over a three year period. The liquidity-based vesting condition will be satisfied upon the occurrence of an IPO, direct listing, or sale event.

***2020 Notes***

In May 2026, the Company amended the terms of the 2020 Notes, whereby the principal amount and accrued interest will automatically convert into common stock upon execution of the underwriting agreement related to the IPO.

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS <br>(UNAUDITED)**

---

| | |
|:---|:---|
| | **Page** |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)[Consolidated](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)[Balance Sheets](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)</u> | <u>[F-42](#i2daaa9faa0b24be68f6320125a1b1051_13194139539020)</u> |
| <u>[Condensed C](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)[onsolidated Statements of Operations](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)</u> | <u>[F-43](#i2daaa9faa0b24be68f6320125a1b1051_13194139539025)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)[Consolidated Statements of Comprehensive Loss](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)</u> | <u>[F-44](#i2daaa9faa0b24be68f6320125a1b1051_13194139539030)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)[Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)</u> | <u>[F-45](#i2daaa9faa0b24be68f6320125a1b1051_13194139539035)</u> |
| <u>[Condensed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)[Consolidated Statements of Cash Flows](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)</u> | <u>[F-46](#i2daaa9faa0b24be68f6320125a1b1051_13194139539042)</u> |
| <u>[Notes to](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[Con](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[densed](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)[Consolidated Financial Statements:](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)</u> | <u>[F-48](#i2daaa9faa0b24be68f6320125a1b1051_13194139539047)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)[Description of Business and Summary of Significant Accounting Policies](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)</u> | <u>[F-48](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 2.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)[Fair Value Measurements](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)</u> | <u>[F-53](#i2daaa9faa0b24be68f6320125a1b1051_13194139539219)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 3.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)[Prepaid Expenses and Other Current Assets](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)</u> | <u>[F-54](#i2daaa9faa0b24be68f6320125a1b1051_13194139539228)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 4.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)[Property and Equipment, Net](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)</u> | <u>[F-54](#i2daaa9faa0b24be68f6320125a1b1051_13194139539232)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 5.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)[Accrued Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)</u> | <u>[F-55](#i2daaa9faa0b24be68f6320125a1b1051_13194139539238)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 6.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)[Other Long-term Liabilities](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)</u> | <u>[F-55](#i2daaa9faa0b24be68f6320125a1b1051_13194139539256)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[7](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)[Commitments and Contingencies](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)</u> | <u>[F-55](#i2daaa9faa0b24be68f6320125a1b1051_13194139539270)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[8](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)[Convertible Notes and Term Loan](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)</u> | <u>[F-57](#i2daaa9faa0b24be68f6320125a1b1051_13194139539276)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[9](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)[Stock-Based Compensation](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)</u> | <u>[F-59](#i2daaa9faa0b24be68f6320125a1b1051_13194139539288)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[0](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)[Warrants](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> | <u>[F-61](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)[Other Expense, Net](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)</u> | <u>[F-61](#i2daaa9faa0b24be68f6320125a1b1051_13194139539302)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 12. Income Taxes](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)</u> | <u>[F-61](#i2daaa9faa0b24be68f6320125a1b1051_13194139540991)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[3](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)[Related Party Transactions](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)</u> | <u>[F-61](#i2daaa9faa0b24be68f6320125a1b1051_13194139539316)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[4](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[.](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)[Net Loss Per Share](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> | <u>[F-62](#i2daaa9faa0b24be68f6320125a1b1051_13194139539322)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)[5](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)[. Segments](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)</u> | <u>[F-63](#i2daaa9faa0b24be68f6320125a1b1051_13194139539327)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[N](#i2daaa9faa0b24be68f6320125a1b1051_87411174416197)[ote 16. Subseq](#i2daaa9faa0b24be68f6320125a1b1051_87411174416197)[uent](#i2daaa9faa0b24be68f6320125a1b1051_87411174416197)[Events](#i2daaa9faa0b24be68f6320125a1b1051_87411174416197)</u> | <u>[F-64](#i2daaa9faa0b24be68f6320125a1b1051_87411174416197)</u> |

---

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

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

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| **Assets** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $339825 | $261302 |
| &nbsp;&nbsp;&nbsp;Short-term restricted cash | 69470 | 77259 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 8145 | 11971 |
| &nbsp;&nbsp;&nbsp;Deposits | 225 | 264 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 69175 | 82974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 486840 | 433770 |
| Property and equipment, net | 254517 | 300833 |
| Long-term restricted cash | 6006 | 5346 |
| Operating lease right-of-use assets | 29952 | 33868 |
| Other long-term assets | 16972 | 19223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $794287 | $793040 |
| **Liabilities, Convertible Preferred Stock and Stockholders' Deficit** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $8211 | $7405 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 82061 | 102186 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 21245 | 12323 |
| &nbsp;&nbsp;&nbsp;Accrued taxes | 25559 | 27125 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 10783 | 10584 |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 6301 | 5981 |
| &nbsp;&nbsp;&nbsp;Term loan, current | 113866 | 114244 |
| &nbsp;&nbsp;&nbsp;2021 Notes, current | 660324 | 682934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 928350 | 962782 |
| 2020 Notes | 207885 | 209646 |
| Operating lease liabilities, non-current | 20033 | 24480 |
| Other long-term liabilities | 45372 | 47818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1201640 | 1244726 |
| &nbsp;&nbsp;&nbsp;Convertible preferred stock, $0.0001 par value, 20,846,055 shares authorized, 6,916,489 shares issued and outstanding as of December 31, 2025 and March 31, 2026 respectively, aggregate liquidation preference of $260,970 as of March 31, 2026 | 114027 | 114027 |
| Stockholders' deficit |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 80,357,143 shares authorized, 10,847,267 and 10,689,773 issued and outstanding as of December 31, 2025 and March 31, 2026, respectively | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 233705 | 248669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (9910) | (7921) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (745176) | (806462) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (521380) | (565713) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, convertible preferred stock and stockholders' deficit | $794287 | $793040 |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

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

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
| | **2025** | **2026** |
| Revenue | $129015 | $170150 |
| Cost of revenue | 100130 | 125559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 28885 | 44591 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 35914 | 45005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support | 11841 | 13391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 12552 | 15227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 60307 | 73623 |
| Operating loss | (31422) | (29032) |
| Interest expense | (5123) | (5159) |
| Other expense, net | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (53627) | (59430) |
| Provision for income taxes | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |
| Net loss per share attributable to common stockholders, basic and diluted | $(5.94) | $(6.05) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 9415875 | 10131980 |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS**

**(in thousands)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Net loss | $(55964) | $(61286) |
| Other comprehensive income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | (676) | (400) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of instrument-specific credit risk | 2785 | 2389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income | 2109 | 1989 |
| Comprehensive loss | $(53855) | $(59297) |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT**

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

**(unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Series 1-C Convertible Preferred Stock Warrants** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2024 | 6096910 | $99652 | $14320 | 10145962 | $1 | $215139 | $(22364) | $(685867) | $(493091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  |  | (55964) | (55964) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  |  | 218340 |  | 1912 |  |  | 1912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  |  | 3493 |  |  | 3493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 2109 |  | 2109 |
| Balance as of March 31, 2025 | 6096910 | $99652 | $14320 | 10364302 | $1 | $220544 | $(20255) | $(741831) | $(541541) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible Preferred Stock** | **Convertible Preferred Stock** | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Deficit** |
| Balance as of December 31, 2025 | 6916489 | $114027 | 10847267 | $1 | $233705 | $(9910) | $(745176) | $(521380) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  |  | (61286) | (61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for options exercised |  |  | 210729 |  | 3061 |  |  | 3061 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock for warrants exercised |  |  | 31008 |  | 208 |  |  | 208 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock for settlement of RSUs, net of shares withheld for taxes |  |  | 11362 |  | (161) |  |  | (161) |
| Settlement of promissory notes issued in exchange for the early exercise of stock options (see <u>[Note 1](#i2daaa9faa0b24be68f6320125a1b1051_13194139539054)</u>) |  |  | (410593) |  | 9072 |  |  | 9072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  | 2784 |  |  | 2784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  | 1989 |  | 1989 |
| Balance as of March 31, 2026 | 6916489 | $114027 | 10689773 | $1 | $248669 | $(7921) | $(806462) | $(565713) |

---

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

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Cash flows from operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 28353 | 30340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 3152 | 2642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount and debt issuance costs | 436 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense on convertible notes | 1700 | 1700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign currency (gains) losses, net | (9000) | 4092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (951) | (418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on vehicle asset disposals | 105 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on change in fair value of the 2021 Notes | 26800 | 24999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 968 | 686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (6328) | (3992) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 8411 | (16286) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (2880) | (2091) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | (15417) | (3308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by operating activities | (20615) | (22302) |
| Cash flows from investing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of vehicle assets | (48438) | (52534) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of non-vehicle assets | (3101) | (4355) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by investing activities | (51539) | (56889) |
| Cash flows from financing activities |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of stock options and other common stock issuances | 1912 | 3061 |
| &nbsp;&nbsp;&nbsp;Proceeds from exercises of common stock warrants |  | 208 |
| &nbsp;&nbsp;&nbsp;Settlement of promissory notes issued in exchange for the early exercise of stock options |  | 9100 |
| &nbsp;&nbsp;&nbsp;Deferred offering costs paid |  | (2839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 1912 | 9530 |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | 2751 | (1733) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net decrease in cash and cash equivalents, and restricted cash | (67491) | (71394) |
| Cash and cash equivalents, and restricted cash, beginning of period | 300332 | 415301 |
| Cash and cash equivalents, and restricted cash, end of period | $232841 | $343907 |
| Reconciliation of cash, cash equivalents, and restricted cash to the unaudited condensed consolidated balance sheets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $182302 | $261302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 50539 | 82605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $232841 | $343907 |

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**NEUTRON HOLDINGS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

**(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Supplemental disclosures of cash flow information |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds | $2375 | $1036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 2836 | 2836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash investing and financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment financed by accounts payable and accrued expenses | 12377 | 26389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred offering costs not yet paid |  | 1593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consideration for promissory note settlement in the form of common stock |  | 890 |

---

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

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**NEUTRON HOLDINGS, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(unaudited)** 

**NOTE 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Description of Business***

Neutron Holdings, Inc. (the "Company" or "Lime") was incorporated in Delaware on January 3, 2017, and is headquartered in San Francisco, California. Lime is a micromobility company that provides rentals of shared electric scooters ("e-scooters") and electric bicycles ("e-bikes") through its platform (the "Rider App") to be used for short distances in various cities and municipalities around the world.

***Basis of Presentation***

The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and include the accounts of the Company and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

***Reverse Stock Splits***

In May 2026, the Company's board of directors and the stockholders of the Company approved a 336-for-one reverse stock split of the Company's common stock and convertible preferred stock (collectively, the "Capital Stock"), which became effective on May 12, 2026.

In June 2026, the Company's board of directors and the stockholders of the Company approved a two-for-one reverse stock split of the Capital Stock, which became effective on June 18, 2026.

The authorized number of each class and series of Capital Stock was proportionally adjusted in accordance with the 336-for-one reverse stock split. Further, the authorized number of the Company's convertible preferred stock was proportionally adjusted in accordance with the two-for-one reverse stock split. The par value of each class of Capital Stock was not adjusted as a result of the reverse stock splits. All common stock, convertible preferred stock, stock options, RSUs, warrants, and per share information presented within these unaudited interim consolidated financial statements have been adjusted to reflect the reverse stock splits on a retroactive basis for all periods presented. No fractional shares were issued as a result of the reverse stock splits. Any fractional shares that would otherwise have resulted from the reverse stock splits were rounded down to the next whole share.

***Going Concern***

The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As of March 31, 2026, the Company had cash and cash equivalents of approximately $261.3 million. In addition, the Company has principal payments on convertible notes and term loan of approximately $845.8 million due within twelve months from the issuance of these unaudited condensed consolidated financial statements and it does not currently have sufficient liquidity to repay them. These conditions raise substantial doubt about the Company's ability to continue as a going concern for at least one year from issuance of these unaudited condensed consolidated financial statements. The Company's ability to continue as a going concern is dependent upon the consummation of an initial public offering, the ability to obtain necessary financing to meet its obligations, or the ability to obtain acceptable terms upon an amendment of its convertible notes. If additional equity or debt financing is required from outside sources, the Company may not be able to obtain additional liquidity on terms acceptable to it or at all. If the Company is unable to raise additional capital on acceptable terms when needed, its results of operations and financial condition would be materially and adversely affected.

As a result of the above, management has determined that substantial doubt exists about the Company's ability to continue as a going concern through twelve months from the date these unaudited condensed consolidated financial statements are available to be issued. These unaudited condensed consolidated financial statements do not include any adjustments relating to the recovery of the recorded

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assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

***Unaudited Condensed Consolidated Financial Statements***

The condensed consolidated balance sheet as of March 31, 2026, and the condensed consolidated statements of operations, comprehensive loss, convertible preferred stock and stockholders' deficit and cash flows for the three months ended March 31, 2025 and 2026 are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair statement of the Company's financial position as of March 31, 2026 and its results of operations, comprehensive loss, convertible preferred stock and stockholders' deficit and cash flows for the three months ended March 31, 2025 and 2026. The financial data and the other financial information disclosed in these notes to the unaudited condensed consolidated financial statements related to the three-month periods are also unaudited. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any other future annual or interim period, due to seasonality and other factors. The balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements included elsewhere in this prospectus.

***Use of Estimates***

The preparation of these unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Management evaluates its estimates and assumptions on an ongoing basis and makes adjustments when facts and circumstances dictate. The most significant estimates include the selection of useful lives of vehicle assets, the determination of the claims reserve, the determination of fair value of the Company's common stock, fair value of financial instruments and the excess and obsolescence reserve on capitalized spare parts. The Company's operations and financial performance mean that these estimates may change in future periods, as new events occur, and additional information is obtained. These estimates are based on information available as of the date of these unaudited condensed consolidated financial statements; therefore, actual results could differ from estimates.

***Partial Recourse Notes and Early Exercises***

During the year ended December 31, 2020 and prior, the Company issued promissory notes to certain executives and key employees in the aggregate principal amount of $38.6 million, in exchange for the early exercise of 932,001 stock options. The promissory notes represent the aggregate exercise price of the early exercised stock options and carry original stated interest rates ranging from 0.41% to 0.45% per annum. The principal amounts and accrued interest are generally due upon the earlier of: (i) maturity dates ranging from the 7th to 10th anniversary of the note's issuance, (ii) any transfer of the shares securing the promissory note or (iii) the completion of an IPO. All promissory notes issued were partially collateralized by the shares issued in exchange for the note on a non-pro rata basis and were considered nonrecourse notes in their entirety. As such, the shares issued are not considered "exercised" for accounting purposes until the notes are repaid and the underlying stock options have vested. The nonrecourse notes are not recorded on the condensed consolidated balance sheets since the arrangement is, in substance, a stock option. The shares are included in the legally issued and outstanding shares of common stock on the condensed consolidated balance sheets and in the condensed consolidated statements of convertible preferred stock and stockholders' deficit.

In February and March 2026, certain promissory note holders made cash payments of $9.1 million, in the aggregate, to the Company, to settle outstanding principal and accrued interest, of the same amount,

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on their promissory notes. Since the promissory note arrangements are, in substance, stock options, the cash payments to settle the promissory notes are considered an exercise of the stock options for 166,125 shares of common stock with a corresponding offset to additional paid-in capital.

In March 2026, a promissory note holder surrendered to the Company 23,266 shares of common stock of the Company to settle the remaining $0.9 million of outstanding principal and accrued interest on their promissory note related to the exercise of stock options for 166,686 shares of common stock.

In March 2026, the Company repurchased 387,327 shares of common stock, originally pledged as security subject to repayment of certain promissory notes. The repurchase settled $19.9 million of outstanding principal and accrued interest on certain promissory notes at maturity. Since the promissory note arrangements are, in substance, stock options, the repurchase of common stock to settle the promissory notes at maturity is considered an expiration of the stock options. In connection with the transaction, the Company elected to pay $1.6 million in tax withholding obligations on behalf of select note holders, which is reflected as selling, general and administrative expense on the unaudited condensed consolidated statement of operations in the respective period.

As of December 31, 2025 and March 31, 2026, the principal amount of $34.5 million and $7.1 million, respectively, and related accrued interest of $2.6 million and $0.4 million, respectively, remained outstanding on promissory notes. As of December 31, 2025 and March 31, 2026, there were 850,156 and 130,012 shares issued that are pledged as security subject to repayment of the notes.

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and supplier purchases.

Significant customers are those which represent more than 10% of the Company's total revenue or gross accounts receivable balance at each balance sheet date. During the three months ended March 31, 2025 and 2026, no customers accounted for 10% or more of total revenue. As of December 31, 2025 and March 31, 2026, the Company had a third-party PSP that accounted for 83.9% and 87.1% of accounts receivable, respectively.

As discussed in Note 13 – Related Party Transactions, the Company has an agreement with Uber which allows riders to access the Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. Revenue earned through this agreement was approximately 14.5% and 14.0% of total revenue during the three months ended March 31, 2025 and 2026, respectively. Accounts receivable from Uber was 6.7% and 5.5% of accounts receivable as of December 31, 2025 and March 31, 2026, respectively.

Significant vendors are those which represent more than 10% of the Company's total purchases. During the three months ended March 31, 2025 and 2026, the Company had 0 and 1 significant vendors, respectively.

***Revenue Recognition***

The Company generates revenue from providing seamless, on-demand access to its network of e-scooters and e-bikes through two pricing models: either "Pay-As-You-Go" or LimePass.

*Lease Revenue*

Pay-As-You-Go allows riders to pay for usage based on the duration per session. The single-use rental of the Company's vehicles by riders are considered operating leases pursuant to ASC 842, under which the Company is the lessor. The Company has fixed lease payments, in the form of unlock fees that are fixed charges to access the vehicles, and variable lease payments, in the form of per minute usage fees. The Company treats any credit, coupon, or rider incentives as a reduction to the revenue for the ride in the period to which it relates. As the lease term is less than one day, the Company recognizes fixed

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lease payments (i.e., the unlock fees) and variable lease payments (i.e., usage minus lease incentives), at the time the ride is complete, on the same day the lease commenced.

*Revenue from Contracts with Customers*

The Company also recognizes revenue pursuant to ASC 606, *Revenue from Contracts with Customers*. This primarily relates to LimePass which consists of minute bundles and LimePrime. Minute bundles allow for the purchase of discounted ride minutes, offered at different increments, which can be used across multiple rides for a period of time ranging from 1 to 30 days. LimePrime is a recurring monthly subscription that provides riders with benefits such as free unlocks and extended vehicle reservations. In addition, starting in the first quarter of 2026, the Company rolled out a new LimePrime option for unlimited flat-rate rides, up to 20 minutes each.

The services provided by the Company that are based on usage, such as minute bundles, are recognized using an output method, generally as the minutes are used, as this reflects the pattern of transfer for these services.

The services provided by the Company for fixed monthly subscriptions, such as LimePrime, are considered stand-ready performance obligations where riders benefit from the services evenly throughout the service period. Revenue is recognized on a ratable basis over the contractual period of the arrangement beginning when or as control of the promised services is transferred to the customer as this reflects the pattern of transfer for these services.

The Company also estimates the portion of customer rights that will never be redeemed ("breakage") and for which there is no legal obligation to remit the value of the unredeemed balance to the relevant jurisdiction as unclaimed or abandoned property. To the extent the Company has a basis for estimating breakage, the Company will recognize the breakage amounts as revenue, proportionate to the pattern of rights exercised by the customer. However, as the Company does not have a basis for estimating breakage, the Company will recognize breakage revenue when the likelihood of customer redemption, based on historical experience or long periods of inactivity, is remote.

The Company's revenue contracts do not result in significant obligations associated with returns, refunds or warranties. The Company's payment terms are generally fixed and do not include variable revenues or consideration. LimePass arrangements are paid in advance resulting in a contract liability.

*Disaggregated Revenue*

Total revenues disaggregated between lease revenue and revenue from contracts with customers are as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Lease revenue | $94059 | $123552 |
| Revenue from contracts with customers | 34956 | 46598 |
| Total revenue | $129015 | $170150 |

---

For both lease revenue and revenue from contracts with customers, the Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction and collected by the Company from a customer and remitted to governmental authorities. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

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***Stock-Based Compensation***

Stock-based compensation expense is measured and recorded based on the grant-date fair value of the stock-based awards. The fair value of the shares of common stock underlying the stock options and restricted stock units ("RSUs") on the grant date has been determined by the board of directors, as there is no public market for the underlying common stock. The Company recognizes stock-based compensation expense for service-based awards on a straight-line basis over the requisite service period of the individual grant, generally equal to the vesting period. The Company records forfeitures as they occur.

The Company uses the Black-Scholes-Merton option-pricing model ("Black-Scholes model") to determine the fair value of stock option awards. The Black-Scholes model requires the use of objective and subjective assumptions, including the fair value of common stock, expected volatility, risk free interest rate, expected dividend and option's expected term of the underlying stock.

The Company estimates the fair value of RSUs based on the fair market value of the Company's common stock on the date of grant. The RSUs granted by the Company include both a service-based and performance-based liquidity event vesting condition. Compensation cost related to these RSUs must be recognized over the requisite service period using the accelerated attribution method, if it is probable that the performance-based liquidity event vesting condition will be satisfied. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

***Deferred Offering Costs***

Deferred offering costs, which consist of direct incremental legal, accounting, consulting and other fees relating to an initial public offering are capitalized. The deferred offering costs will be offset against initial public offering proceeds upon the consummation of the initial public offering. In the event the planned initial public offering is terminated, the deferred offering costs will be expensed. As of December 31, 2025 and March 31, 2026, there were $7.7 million and $9.3 million, respectively, of deferred offering costs recorded within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet.

***Recent Accounting Pronouncements Not Yet Adopted***

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This new standard is effective for the Company's annual period beginning January 1, 2026. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently evaluating the impact of the guidance on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, *Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses* ("ASU 2024-03"). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions within the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Clarifying the Effective Date. The amendments in this update may be applied either prospectively or retrospectively, and are effective for fiscal years beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, *Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software* ("ASU

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2025-06"). ASU 2025-06 modernizes the accounting for costs related to internal-use software in ASC 350-40 to reflect the software development approaches currently used. Specifically, the FASB observed that software is not always developed in a linear manner, which is an underlying tenet of the existing internal-use software capitalization framework. To clarify how the guidance applies to both linear and nonlinear software development, the ASU removes all references to "development stages" from ASC 350-40 and changes the criteria to determine when development cost capitalization should begin. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, with early adoption permitted. Entities are permitted to apply the ASU on a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact of adopting this new accounting guidance on its consolidated financial statements and related disclosures.

**NOTE 2. FAIR VALUE MEASUREMENTS**

The carrying amounts of certain of the Company's financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values due to their short-term maturities.

The fair value measurements of financial instruments that are measured at fair value on a recurring basis consisted of the following (in thousands):

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Notes | $— | $— | $660324 | $660324 | $— | $— | $682934 | $682934 |
| Total Liabilities | $— | $— | $660324 | $660324 | $— | $— | $682934 | $682934 |

---

The Company did not make any transfers between the levels of the fair value hierarchy during the periods presented.

As of December 31, 2025 and March 31, 2026, the 2021 Notes total contractual principal and accrued in kind interest amounted to $525.5 million and $536.1 million, respectively, resulting in a difference between the aggregate fair value and the aggregate unpaid balance of $134.9 million and $146.8 million, respectively.

A summary of the net changes in the fair value of the 2021 Notes was as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Balance, beginning of period | $544106 | $660324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value loss recognized in other expense, net | 26800 | 24999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value gain recognized in other comprehensive loss | (2785) | (2389) |
| Balance, end of period | $568121 | $682934 |

---

The Company issued warrants to purchase shares of the Company's Series B convertible preferred stock which are recognized in other long-term liabilities on the unaudited condensed consolidated balance sheets, as the convertible preferred shares underlying the warrants are contingently redeemable for cash. The convertible preferred stock warrants are remeasured to fair value each reporting period based on unobservable Level 3 inputs. The fair value of the warrant and changes in fair value of the warrant for the three months ended March 31, 2025 and 2026 were not material.

Certain assets and liabilities are measured at fair value on a nonrecurring basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment or when a new liability is being established that requires fair value measurement. The Company had no non-recurring fair value measurements during the three months ended March 31, 2025 and 2026.

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**NOTE 3. PREPAID EXPENSES AND OTHER CURRENT ASSETS**

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

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Prepaid expenses | $27292 | $28348 |
| Spare parts, net | 20870 | 31590 |
| Value-added taxes receivable | 8953 | 8749 |
| Other current assets | 12060 | 14287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $69175 | $82974 |

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**NOTE 4. PROPERTY AND EQUIPMENT, NET**

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

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deployed vehicle assets | $491361 | $507885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undeployed vehicle assets | 21196 | 59218 |
| Non-vehicle assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized internal-use software | 82856 | 85377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Leasehold improvements | 7488 | 9434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Furniture and fixtures | 941 | 1219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 1746 | 1835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment | 605587 | 664968 |
| Accumulated vehicle asset depreciation | (275452) | (284172) |
| Accumulated non-vehicle asset depreciation & amortization | (75618) | (79963) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment, net | $254517 | $300833 |

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The following table presents amounts recognized in the unaudited condensed consolidated statements of operations related to property & equipment (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Vehicle asset depreciation expense | $23971 | $26384 |
| Non-vehicle asset depreciation and amortization expense | 4382 | 3956 |
| Loss on vehicle asset disposals | 105 | 181 |

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**NOTE 5. ACCRUED LIABILITIES**

Accrued liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Accrued purchases | $9625 | $27995 |
| Accrued operations related expenses | 29546 | 34724 |
| Short-term claims reserve | 14212 | 14132 |
| Accrued legal settlements | 4590 | 348 |
| Accrued escheatment | 12350 | 12917 |
| Accrued insurance | 9631 | 9620 |
| Other | 2107 | 2450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total accrued liabilities | $82061 | $102186 |

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**NOTE 6. OTHER LONG-TERM LIABILITIES**

Other long-term liabilities consisted of the following (in thousands):

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| Long-term claims reserve | $38227 | $42144 |
| Non-income tax reserves | 2984 | 1772 |
| Other | 4161 | 3902 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other long-term liabilities | $45372 | $47818 |

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**NOTE 7. COMMITMENTS AND CONTINGENCIES**

***Letters of Credit***

The Company maintains various stand-by letters of credit and guarantees from third-party financial institutions in the ordinary course of business to guarantee performance obligations related to certain vehicle and battery manufacturing, real estate leases, insurance policies, and other contractual arrangements. The letters of credit are collateralized by restricted cash. As of December 31, 2025 and March 31, 2026, the Company had outstanding balances of $75.5 million and $82.6 million, respectively.

***Indemnification***

The Company has entered into indemnification provisions under agreements with other parties in the ordinary course of business, including governmental entities and other business partners. The Company has agreed to indemnify and defend the indemnified party's claims and related losses suffered or incurred by the indemnified party arising from actual or threatened third-party claims related to the Company's activities. It is not possible to determine the potential loss resulting from the contractual indemnification obligations because of the distinctive facts involved in any potential action arising from each indemnification provision. As of March 31, 2026, some contractual indemnification obligations were accrued with personal injury matters. See the "Personal Injury Matters" section below for more information.

The Company's Bylaws provide that it will indemnify directors and officers against certain costs and liabilities that may arise by reason of their status or service to the Company.

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***Legal Proceedings***

The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, regulatory inquiries, and governmental investigations in the ordinary course of business, which may include litigation by riders and third parties (individually or as class actions) alleging, but not limited to, various wage and expense claims, violations of state or federal laws, product liability and personal injury claims. The Company has determined that, except as disclosed below, no disclosure of estimated loss is required for these matters because: (1) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such matters (2) a reasonably possible loss or range of loss cannot be estimated, or (3) such estimate is immaterial.

Due to the inherent nature of litigation, the outcomes of the Company's current and potential future legal proceedings are not possible to predict with any certainty. For certain matters for which a material loss is probable and reasonably estimable, an estimate of the amount of loss is recorded in the unaudited condensed consolidated financial statements. Until there is finality to the resolution of the legal matters, the exposure to a loss individually, or in the aggregate may differ from the amount recorded. Legal fees are expensed as incurred.

<u>Personal Injury Matters</u>

The Company is currently named as a defendant in a number of matters related to accidents or other incidents involving the use of its vehicles brought by riders and third parties. The Company disputes the allegations and continues to defend itself vigorously against such claims. The Company does not believe that these existing or threatened claims are individually likely to have a material impact on its business, financial condition or results of operations. Notwithstanding such, litigation and claims are inherently unpredictable, and legal proceedings arising from such incidents, individually or in the aggregate, could have a material impact on the Company's business, financial condition and results of operations. Additionally, despite the outcome, litigation may have an adverse impact to the Company because of defense and settlement costs individually and in the aggregate, including the diversion of management resources to defend such claims, and other factors.

As of December 31, 2025 and March 31, 2026, the Company had claims reserves of $52.4 million and $56.3 million, respectively, to cover the estimated costs for personal injury claims incurred but not paid and personal injury claims that have been incurred but not yet reported, as well as certain contractual indemnification obligations as described in the "Indemnification" section above. Additionally, as of December 31, 2025 and March 31, 2026, the Company has a reserve of $4.6 million and $0.3 million, respectively, to cover settled but unpaid claims.

<u>Non-Income Tax Matters</u>

The Company is under audit by various domestic and foreign tax authorities with regards to non-income tax matters. The Company accrues non-income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. Due to the inherent complexity and uncertainty of these matters and judicial process in certain jurisdictions, the final outcome may be materially different from the Company's expectations.

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**NOTE 8. CONVERTIBLE NOTES AND TERM LOAN**

***2021 Notes***

Between October and November 2021, the Company issued convertible secured promissory notes (the "2021 Notes") with an initial aggregate principal amount of $417.6 million and a maturity date of October 29, 2025. In October 2023, the maturity date was amended to October 29, 2026. The 2021 Notes initially accrued interest at a rate of 4.0% per annum, which increased by 0.5% in April 2023, by another 1.0% in October 2023, and by 1.0% semi-annually thereafter up to a maximum of 8.0%. At the election of the Company, interest is to be paid in cash or by increasing the principal amount of the 2021 Notes by payment in kind ("PIK interest"). The Company has elected to pay PIK interest.

The 2021 Notes contain various conversion options upon the occurrence of certain events such as an IPO, change of control, or equity financing. In the event of an IPO or change of control, the 2021 Notes will convert into common stock at a price per share limited to the lesser of (i) a range of 75% to 80% of the applicable transaction price per share of common stock and (ii) a cap price per share as defined in the note purchase agreement. In the event of an equity financing, the 2021 Notes will convert into the equity securities issued based on such equity securities' price per share in such financing. If the 2021 Notes have not been converted or otherwise settled at maturity, the principal plus a premium of 25% becomes due and payable at maturity. The 2021 Notes are secured by substantially all of the Company's assets.

***2020 Notes***

Between May and June 2020, the Company issued convertible secured promissory notes (the "2020 Notes") in the aggregate principal amount of $170.0 million. Of the aggregate principal amount, $85.0 million was issued to Uber (the "2020 Uber Note") and the remaining $85.0 million was issued to other investors (the "2020 Investor Notes"). The 2020 Notes accrue non-compounding interest at a fixed rate of 4.0% per annum and mature on May 7, 2027. Accrued interest either converts into common shares or becomes payable in accordance with the conversion and settlement options described below. If not earlier converted, the principal and accrued interest of the 2020 Notes becomes due and payable at the maturity date.

The holders of the 2020 Investor Notes also received warrants to acquire a total of 289,737 shares of common stock at an exercise price of $6.72 per share. The warrant has a term of seven years and may be exercised on a cashless basis at any time based on their fair market value at the time of conversion, in which event the Company will not receive any proceeds. The warrants were recorded as equity at their relative fair value of $0.8 million. The remaining $84.2 million of the proceeds received were allocated to the 2020 Investor Notes. See <u>[Note 10 - Warrants](#i2daaa9faa0b24be68f6320125a1b1051_13194139539296)</u> for more information.

At issuance, the total debt discount related to the 2020 Uber Note and 2020 Investor Notes was $0.4 million and $1.2 million, respectively. This amount is being amortized as additional interest expense over the term of the 2020 Notes using the effective interest rate method at an effective interest rate of 4.05%.

The 2020 Notes contain various conversion and settlement options: (i) conversion of the principal amount to Series 3 preferred stock (in the case of the 2020 Uber Note) or Series 2 preferred stock (in the case of the 2020 Investor Notes), with the accrued interest settled in cash or common stock at the Company's election; or (ii) in the event of a change of control of the Company or IPO, the principal amount and accrued interest will, at the election of the holder, either become due and payable or convert into common stock. The conversion price of the 2020 Notes is $16.73 per share of common stock. The 2020 Notes are secured by substantially all of the Company's assets.

Several of the holders of the 2021 Notes and 2020 Notes are related parties of the Company. See Note 13 – Related Party Transactions for more information.

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***Senior Secured Term Loan***

In October 2023, the Company entered into a senior secured term loan with certain lenders (the "Senior Secured Term Loan") with a principal amount of $115.0 million, an interest rate of 10.0% per annum and a maturity date of September 30, 2026, upon which the principal balance is due in full. The Company incurred debt issuance costs related to legal and underwriting fees of $2.2 million and was required to pay a closing fee of $2.3 million, all of which are being amortized to interest expense over the term of the loan.

The Company's obligations under the Senior Secured Term Loan are backed by a guaranty from Uber, a related party of the Company. The Senior Secured Term Loan is secured by substantially all of the Company's assets.

The Senior Secured Term Loan agreement and the note purchase agreements for the 2021 Notes and 2020 Notes contain customary covenants restricting the Company and its subsidiaries' ability to incur debt, incur liens, make investments, transfer assets and undergo certain fundamental changes, as well as certain financial covenants specified in the contractual agreement. As of March 31, 2026, the Company was in compliance with all covenants.

***Aggregate debt maturities and expenses***

As of March 31, 2026, future principal payments for the Company's convertible notes and term loan were as follows (in thousands):

---

| | | | |
|:---|:---|:---|:---|
| | **Convertible Notes** | **Term Loan** | **Total** |
| 2026 (remainder) | 560798 | 115000 | 675798 |
| 2027 | 169990 |  | 169990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total future principal payments | $730788 | $115000 | $845788 |

---

Future principal payments for convertible notes includes $143.2 million of PIK Interest on the 2021 Notes. Future principal payments for convertible notes does not include the premium of 25% on the 2021 Notes, that becomes due and payable at maturity.

The following table presents interest expense recognized related to the term loan and 2020 Notes (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Contractual interest on term loan | $2836 | $2836 |
| Contractual interest on 2020 Notes | 1700 | 1700 |
| Amortization of debt discount and issuance costs | 436 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4972 | $4975 |

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**NOTE 9. STOCK-BASED COMPENSATION**

***Stock Options***

Stock option activity was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Exercise Price Per Share** | **Weighted-Average Remaining Contractual Life**<br>**(in years)** | **Aggregate Intrinsic Value** <br>**(in thousands)** |
| Outstanding as of December 31, 2025 | 6735077 | $9.36 | 6.9 | $140335 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (210729) | $11.06 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited | (88329) | $10.08 |  |  |
| Outstanding as of March 31, 2026 | 6436019 | $9.29 | 6.6 | $186475 |
| Vested and exercisable as of March 31, 2026 | 5072330 | $8.64 | 6.3 | $150232 |
| Vested and expected to vest as of March 31, 2026 | 6436019 | $9.29 | 6.6 | $186475 |

---

The total fair value of shares vested during the three months ended March 31, 2025 and 2026, was $1.7 million and $9.2 million, respectively.

The aggregate intrinsic value of stock options exercised during the three months ended March 31, 2025 and 2026, was $1.6 million and $5.6 million, respectively.

As of December 31, 2025 and March 31, 2026, the Company had zero unvested early exercised shares. As of December 31, 2025 and March 31, 2026, the Company also had 850,156 and 130,012 shares issued that remain subject to repayment of nonrecourse notes.

As of March 31, 2026, total compensation cost not yet recognized related to unvested stock options was $9.6 million, which is expected to be recognized over a weighted-average period of 1.1 years.

As of March 31, 2026, the Company had limited options outstanding subject to performance and market conditions. No stock-based compensation expense for these awards has been recorded as the performance conditions are not deemed probable of being met. Total compensation cost not yet recognized related to these awards was immaterial as of March 31, 2026.

***RSUs***

The Company grants RSUs that generally vest upon the satisfaction of both a time-based service requirement and a performance-based liquidity event requirement. The service-based condition is satisfied equally over 12 quarters, provided the grantee remains in continuous service. The performance-based condition is satisfied upon the consummation of the qualifying liquidity event, which is the earlier of an initial public offering ("IPO"), a direct listing, or a sale event.

In March 2026, the Board of Directors approved the accelerated vesting of 16,289 RSUs as of the approval date. The modification resulted in a stock-based compensation expense of approximately $0.6 million within selling, general and administrative expense on the unaudited condensed consolidated statement of operations. The Company issued 11,362 shares of its common stock (after withholding 4,927 shares of common stock for satisfaction of related tax withholding obligations).

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The following table summarizes the activity related to RSUs for the three months ended March 31, 2026:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted-Average Grant-Date Fair Value Per Share** |
| Unvested and Outstanding as of December 31, 2025 | 1762366 | $19.18 |
| Granted | 1459200 | 39.68 |
| Vested | (16289) | 13.90 |
| Forfeited | (59918) | 20.10 |
| Unvested and Outstanding as of March 31, 2026 | 3145359 | 28.70 |

---

The Company determines the grant-date fair value of these RSUs based on the market price of its common stock on the date of grant. The Company does not recognize stock-based compensation expense for these awards until the performance condition is deemed probable of achievement, which occurs upon the consummation of the qualifying liquidity event.

Of the RSUs outstanding as of March 31, 2026, 427,197 had met their service condition. If the performance vesting condition had been met on March 31, 2026, the Company would have recorded stock-based compensation of $19.2 million and unrecognized stock-based compensation related to the unvested RSUs as of March 31, 2026 would have been $71.1 million, and that would have been recognized over a weighted-average remaining requisite service period of 1.2 years.

***Stock-Based Compensation Expense***

The Company recorded stock-based compensation expense in the unaudited condensed consolidated statements of operations as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Cost of revenue | $9 | $5 |
| Selling, general and administrative | 1588 | 1706 |
| Operations and support | 372 | 194 |
| Research and development | 1183 | 737 |
| Total stock-based compensation expense | $3152 | $2642 |

---

The Company capitalized $0.3 million and $0.1 million of stock-based compensation expense in software development costs for the three months ended March 31, 2025 and 2026, respectively.

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**NOTE 10. WARRANTS**

As of December 31, 2025 and March 31, 2026, the following warrants were outstanding:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issued in connection with** | **Warrant Shares** | **Exercise Price Per Share** | **Number of Warrant Shares Outstanding as of 12/31/2025** | **Number of Warrant Shares Outstanding as of 3/31/2026** | **Expiration date** |
| Common Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Atel Loan Agreement | 20805 | $14.18 | 20805 | 20805 | January 2028 |
| &nbsp;&nbsp;&nbsp;SVB Loan Agreement | 3008 | 14.18 | 3008 | 3008 | January 2028 |
| &nbsp;&nbsp;&nbsp;BMO Credit Agreement | 7618 | 78.76 | 7618 | 7618 | March 2030 |
| &nbsp;&nbsp;&nbsp;2020 Investor Notes | 289737 | 6.72 | 261635 | 230627 | May - June 2027 |
| Preferred Stock Warrants: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Uber Integration Agreement (Series 1-C) | 819579 | $0.07 |  |  | May 2025 |
| &nbsp;&nbsp;&nbsp;TriplePoint Loan Agreement (Series B) | 11674 | 44.97 | 11674 | 11674 | March 2028 |

---

During the three months ended March 31, 2026, the Company issued 31,008 shares of common stock upon the exercise of common stock warrants, issued in connection with the 2020 Investor Notes, for an aggregate exercise price of $0.2 million.

**NOTE 11. OTHER EXPENSE, NET**

The components of other expense, net were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Loss on change in fair value of the 2021 Notes | $(26800) | $(24999) |
| Foreign currency exchange (losses) gains, net | 7571 | (3243) |
| Interest income | 2137 | 2891 |
| Other gains, net | 10 | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | $(17082) | $(25239) |

---

**NOTE 12. INCOME TAXES**

The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate and, if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment to tax expense or benefit in the period.

The Company recorded a $2.3 million and $1.9 million provision for income taxes for the three months ended March 31, 2025 and 2026, respectively. The effective tax rate was (4.4)% and (3.1)% for the three months ended March 31, 2025 and 2026, respectively. The effective tax rate differs from the U.S. statutory tax rate primarily due to the valuation allowances on the Company's deferred tax assets as it is more likely than not that some or all of the Company's deferred tax assets will not be realized.

**NOTE 13. RELATED PARTY TRANSACTIONS**

***Uber***

The Company entered into an Integration Agreement with Uber, an investor who owns greater than 10% of the Company, dated August 10, 2018, as amended from time to time and most recently amended and restated as of September 15, 2025. The Integration Agreement allows riders to access the

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Company's vehicles through mobile applications distributed by Uber and/or its subsidiaries. The Integration Agreement is currently effective through December 31, 2028. The Company receives revenue for these bookings and pays Uber a service fee in exchange. The revenue recognized through the Integration Agreement consists solely of lease revenue. Service fees are recorded in cost of revenue in the unaudited condensed consolidated statements of operations. As a result of the Integration Agreement, Uber also received common stock warrants in 2018.

The total revenue earned through and related service fees charged from the Integration Agreement were as follows (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Revenue earned | $18695 | $23750 |
| Service fees paid | 2147 | 2639 |

---

The Company received funding from Uber in the form of the 2020 Uber Note and as part of the 2021 Notes, as discussed in Note 8 – Convertible Notes and Term Loan.

The Company and Uber are also party to the Amended Warrant Agreement, as discussed in Note 10 – Warrants.

The Company and Uber were also party to a Call Option Agreement dated May 7, 2020. The Call Option Agreement gave Uber the option to acquire all of the outstanding securities of the Company at fair market value. Uber did not exercise the call option, and it expired on May 7, 2024.

***Other Related Parties***

As discussed in Note 1 – Description of Business and Summary of Significant Accounting Policies, the Company issued promissory notes to certain current and former members of management in connection with the exercise of Company stock options.

The Company entered into a Note and Warrant Purchase Agreement with Andreessen Horowitz, an investor who owns greater than 10% of the Company, dated as of May 7, 2020, by and among the Company and the Lenders (as defined therein), and the convertible secured promissory note issued to funds affiliated with Andreessen Horowitz, thereunder. See Note 8 – Convertible Notes and Term Loan for additional information.

The Company entered into a Senior Secured Term Loan with Diameter, which was guaranteed by an affiliate company, dated as of October 5, 2023. See Note 8 – Convertible Notes and Term Loan for additional information.

**NOTE 14. NET LOSS PER SHARE**

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Net loss attributable to common stockholders | $(55964) | $(61286) |
| Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 9415875 | 10131980 |
| Net loss per share attributable to common shareholders, basic and diluted | $(5.94) | $(6.05) |

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The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share as the effect would have been antidilutive:

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Stock options | 7537969 | 6436019 |
| Early exercised stock options | 850156 | 130012 |
| RSUs | 1033542 | 3145359 |
| Warrants for common stock | 293066 | 262058 |
| Warrants convertible for preferred stock (Uber Integration Agreement) | 819579 |  |
| Warrants convertible for preferred stock (TriplePoint Loan Agreement) | 11674 | 11674 |
| 2020 Notes | 12570228 | 11229326 |
| Convertible preferred stock | 6096910 | 6916489 |
| Total | 29213124 | 28130937 |

---

The 2021 Notes are only convertible upon the occurrence of certain events such as an IPO, change of control, or equity financing. The conversion price depends on the price of the equity securities issued in such events and the Company's capitalization at the time. As such, the conversion price and number of underlying shares for the 2021 Notes cannot be determined until a conversion-triggering event occurs. See Note 8 – Convertible Notes and Term Loan for additional information.

**NOTE 15. SEGMENTS**

***Operating Segments***

The following table shows segment revenue, significant segment expenses, and the segment profit or loss measure for each financial statement period (in thousands):

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| Revenue | $129015 | $170150 |
| Significant segment expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 28353 | 30340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 3152 | 2642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue<sup>(a)</sup> | 72641 | 96123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative<sup>(a)</sup> | 33484 | 42839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operations and support<sup>(a)</sup> | 11448 | 12912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(a)</sup> | 11359 | 14326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total segment expenses | 160437 | 199182 |
| Operating loss | (31422) | (29032) |
| Interest expense | (5123) | (5159) |
| Other expense, net | (17082) | (25239) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (53627) | (59430) |
| Provision for income taxes | 2337 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(55964) | $(61286) |

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(a)Exclusive of stock-based compensation and depreciation and amortization shown separately.

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***Geographic Region Information***

The following tables set forth revenue and long-lived assets, net by geographic area (in thousands):

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2026** |
| United States of America | $37286 | $49989 |
| United Kingdom | 31584 | 39299 |
| France | 11691 | 13522 |
| Other | 48454 | 67340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $129015 | $170150 |

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| | | |
|:---|:---|:---|
| | **December 31, 2025** | **March 31, 2026** |
| United States of America | $106710 | $132759 |
| United Kingdom | 35941 | 36679 |
| Germany | 35606 | 36044 |
| Other | 106212 | 129219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long-lived assets, net | $284469 | $334701 |

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**NOTE 16. SUBSEQUENT EVENTS**

The Company evaluated subsequent events from March 31, 2026, the date of these condensed consolidated financial statements, through June 22, 2026, which represents the date the financial statements were available for issuance.

***Partial Recourse Notes***

In May 2026, the Company amended the terms of the remaining promissory notes outstanding, extending a due date condition from the completion of an IPO to two months following the completion of an IPO. Further, the interest rate on the promissory notes was amended to 4.08%, effective as of the amendment date.

***2020 Notes***

In May 2026, the Company amended the terms of the 2020 Notes, whereby the principal amount and accrued interest will automatically convert into common stock upon execution of the underwriting agreement related to the IPO.

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**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution**

The following table sets forth the costs and expenses, other than underwriting discounts and commissions, payable by the registrant in connection with the sale of the common stock being registered. All amounts are estimates except for the Securities and Exchange Commission (the "SEC") registration fee, the Financial Industry Regulatory Authority ("FINRA") filing fee and the Nasdaq Global Select Market ("Nasdaq") listing fee.

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| | |
|:---|:---|
| | **Amount to Be Paid** |
| SEC registration fee | $78300 |
| FINRA filing fee | 25300 |
| Nasdaq listing fee | 325000 |
| Transfer agent's fees and expenses | 20000 |
| Printing and engraving expenses | 342000 |
| Legal fees and expenses | 4000000 |
| Accounting fees and expenses | 7225000 |
| Miscellaneous expenses | 1734400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $13750000 |

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\*To be completed by amendment.

**Item 14. Indemnification of Directors and Officers**

Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including attorneys' fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending, or completed actions, suits, or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee, or agent to the registrant. The Delaware General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article 9 of the registrant's amended and restated certificate of incorporation, to be in effect immediately prior to the completion of this offering, provides for indemnification by the registrant of its directors, officers and employees to the fullest extent permitted by the Delaware General Corporation Law. The registrant has entered or will enter into indemnification agreements with each of its current directors, executive officers, and certain other officers to provide these directors and officers additional contractual assurances regarding the scope of the indemnification set forth in the registrant's amended and restated certificate of incorporation and amended and restated bylaws, each to be in effect immediately prior to the completion of this offering, and to provide additional procedural protections. There is no pending litigation or proceeding involving a director or executive officer of the registrant for which indemnification is sought.

Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director or officer of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer, except for liability (i) for any breach of the director's or officer's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions or (iv) for any transaction from which the director or officer derived an

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improper personal benefit. The registrant's amended and restated certificate of incorporation, to be in effect immediately prior to the completion of this offering, provides for such limitation of liability.

The registrant maintains standard policies of insurance under which coverage is provided (a) to its directors and officers against loss rising from claims made by reason of breach of duty or other wrongful act and (b) to the registrant with respect to payments that may be made by the registrant to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.

The proposed form of underwriting agreement to be filed as Exhibit 1.1 to this registration statement provides for indemnification of directors and officers of the registrant by the underwriters against certain liabilities.

**Item 15. Recent Sales of Unregistered Securities**

Since January 1, 2023, the registrant made sales of the following unregistered securities:

***Option and Common Stock Issuances***

Since January 1, 2023, the registrant granted to its employees, consultants and other service providers options to purchase an aggregate of 8,683,841 shares of its common stock under its equity compensation plan, at exercise prices ranging from $8.20 to $19.29 per share.

Since January 1, 2023, the registrant issued and sold to its employees, consultants and other service providers an aggregate of 1,643,167 shares of its common stock upon the exercise of stock options under its equity compensation plan, at exercise prices ranging from $5.24 to $68.07 per share, for a weighted-average exercise price of $8.24.

Since January 1, 2023, the registrant granted to its employees, consultants and other service providers restricted stock units covering an aggregate of 3,314,495 shares of its common stock under its equity compensation plan.

Since January 1, 2023, 11,362 shares of our common stock were issued to our chief executive officer and member of our board of directors pursuant to restricted stock units, for which the service-based vesting condition was satisfied as of December 31, 2025 and for which the liquidity-based vesting condition was accelerated and deemed satisfied as of March 2026.

In March 2023, the registrant effected a repricing of outstanding and unexercised options to purchase an aggregate of 2,968,678 shares of its common stock, to an exercise price of $8.20 per share. To effect such option repricing, all such outstanding stock options were amended solely to reduce the exercise price to $8.20 per share; the amended options otherwise continued to have all the same terms and conditions under which they were granted, including the number of underlying shares of the registrant's common stock and the expiration date.

In March 2025, the registrant issued to one accredited investor 819,579 shares of the registrant's Series 1-C preferred stock upon the exercise of a warrant at an exercise price of $0.07 per share.

In March 2026, the registrant issued to certain accredited investors 29,137 shares of the registrant's common stock pursuant to an exercise of warrants at an exercise price of $6.72 per share.

In May 2026, the registrant issued to a certain accredited investor 27,131 shares of the registrant's common stock pursuant to an exercise of a warrant at an exercise price of $6.72 per share.

The registrant believes these offers, sales, and issuances were exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under the Securities Act as transactions by an issuer not involving a public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701. The recipients of the securities in each of these transactions represented their intentions to

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acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon the stock certificates issued in these transactions. All recipients had adequate access, through their relationships with the registrant, to information about the registrant.

**Item 16. Exhibits and Financial Statement Schedules**

See the Exhibit Index attached to this registration statement, which Exhibit Index is incorporated herein by reference.

Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.

**Item 17. Undertakings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered hereunder, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Exhibit Description** |
| 1.1 | <u>[Form of Underwriting Agreement](exhibit11-sx1a1.htm)</u> |
| 3.1 | <u>[Ninth Amended and Restated Certificate of Incorporation, as currently in effect and as amended from time to time](exhibit31-sx1a1.htm)</u> |
| 3.2 | <u>[Form of Amended and Restated Certificate of Incorporation, to be in effect immediately prior to the completion of this offering](exhibit32-sx1a1.htm)</u> |
| 3.3\* | <u>[Fourth Amended and Restated Bylaws, as currently in effect and as amended from time to time](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit33-sx1.htm)</u> |
| 3.4 | <u>[Form of Amended and Restated Bylaws, to be in effect immediately prior to the completion of this offering](exhibit34-sx1a1.htm)</u> |
| 4.1 | <u>[Form of Common Stock Certificate](exhibit41-sx1a1.htm)</u> |
| 4.2\*^† | <u>[Investors' Rights Agreement, dated May 7, 2020, by and among the registrant and the investors listed therein](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit42-sx1.htm)</u> |
| 4.3 | <u>[Note Purchase Agreement, dated May 7, 2020, by and between the registrant and Uber Technologies, Inc., as amended from time to time, and form of Convertible Secured Promissory Note thereunder](exhibit43-sx1a1.htm)</u> |
| 4.4 | <u>[Note and Warrant Purchase Agreement, dated May 7, 2020, by and between the registrant and the lenders named therein, as amended from time to time, and form of Convertible Secured Promissory Note thereunder and form of Warrant to Purchase Shares of Common Stock thereunder](exhibit44-sx1a1.htm)</u> |
| 4.5\* | <u>[Note Purchase Agreement, dated October 29, 2021, by and among the registrant, the investors named therein and Wilmington Savings Fund Society, FSB, as collateral agent, as amended from time to time, and form of Secured Convertible Promissory Note thereunder](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit45-sx1.htm)</u> |
| 4.6\*^ | <u>[Plain English Warrant Agreement, dated March 29, 2018, by and between the registrant and TriplePoint Capital LLC](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit46-sx1.htm)</u> |
| 5.1 | <u>[Opinion of Latham & Watkins LLP](exhibit51-sx1a1.htm)</u> |
| 10.1#\* | <u>[2017 Stock Incentive Plan, as amended, and forms of agreements thereunder](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit101-sx1.htm)</u> |
| 10.2# | <u>[2026 Incentive Award Plan, and forms of agreements thereunder](exhibit102-sx1a1.htm)</u> |
| 10.3# | <u>[2026 Employee Stock Purchase Plan](exhibit103-sx1a1.htm)</u> |
| 10.4# | <u>[Non-Employee Director Compensation Program](exhibit104-sx1a1.htm)</u> |
| 10.5# | <u>[Form of Indemnification Agreement by and between the registrant and each of its directors and executive officers](exhibit105-sx1a1.htm)</u> |
| 10.6# | <u>[Amended and Restated Offer Letter by and between the registrant and Wayne Ting, dated](exhibit106-sx1a1.htm)[May 21](exhibit106-sx1a1.htm)[, 2026](exhibit106-sx1a1.htm)</u> |
| 10.7# | <u>[Amended and Restated Offer Letter by and between the registrant and Ann Gugino, dated](exhibit107-sx1a1.htm)[May 21](exhibit107-sx1a1.htm)[, 2026](exhibit107-sx1a1.htm)</u> |
| 10.8\*# | <u>[Board Services Agreement by and between the registrant and Zhoujia](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit108-sx1.htm)[Brad](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit108-sx1.htm)[Bao, dated October 18, 2025](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit108-sx1.htm)</u> |
| 10.9\*# | <u>[Offer Letter by and between the registrant and Brandon Pedersen, dated July 14, 2025](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit109-sx1.htm)</u> |
| 10.10\*# | <u>[Offer Letter by and between the registrant and James Rowan, dated August 7, 2025](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1010-sx1.htm)</u> |
| 10.11\*# | <u>[O](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1011-sx1.htm)[ffer Letter by and between the registrant and Eli](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1011-sx1.htm)[zabeth Hamren, dated March](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1011-sx1.htm)[27](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1011-sx1.htm)[, 2026](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1011-sx1.htm)</u> |
| 10.12\* | <u>[Credit Agreement, dated October 5, 2023, by and among the registrant, as borrower, the lenders party thereto from time to time, as lender, Alter Domus (US) LLC, as initial administrative agent, and Diameter Finance Administration LLC, as collateral agent, as amended from time to time](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1012-sx1.htm)</u> |
| 10.13\*^ | <u>[Guaranty, dated October 5, 2023, by Uber Technologies, Inc. in favor of and for the benefit of Alter Domus (US) LLC, as initial administrative agent, and Diameter Finance Administration LLC, as collateral agent](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1013-sx1.htm)</u> |

---

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Exhibit Description** |
| 10.14\*^† | <u>[Restated](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)[License and Integration Agreement, dated](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)[September 15](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)[,](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)[2025](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)[, by and among the registrant, Uber Technologies, Inc., and other parties thereto, as amended from time to time](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1014-sx1.htm)</u> |
| 10.15 | <u>[Side Letter, dated October 4, 2023, by and among the registrant and Uber Technologies, Inc.](exhibit1015-sx1a1.htm)[, a](exhibit1015-sx1a1.htm)[s amended](exhibit1015-sx1a1.htm)</u> |
| 10.16\*^ | <u>[Lease Agreement, dated November 12, 2025](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit-1016xsx1.htm)</u> |
| 21.1\* | <u>[List of subsidiaries](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit211-sx1.htm)</u> |
| 23.1 | <u>[Consent of KPMG LLP, independent registered public accounting firm](exhibit231-sx1a1.htm)</u> |
| 23.2 | <u>[Consent of Latham & Watkins LLP (included in Exhibit 5.1)](exhibit51-sx1a1.htm)</u> |
| 24.1\* | <u>[Power of Attorney (reference is made to the signature page to the Registration Statement)](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/neutronholdingsinc-sx1.htm#i2daaa9faa0b24be68f6320125a1b1051_3401)</u> |
| 107.1 | <u>[Filing Fee Table](limefilingfee.htm)</u> |

---

_______________

\*Previously filed.

#&nbsp;&nbsp;&nbsp;&nbsp; Indicates management contract or compensatory plan.

†Certain information in this exhibit (indicated by asterisks) has been redacted because it is both (i) not material and (ii) information that the registrant treats as private or confidential.

^&nbsp;&nbsp;&nbsp;&nbsp;Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

------

<u>[**Table of Contents**](#i2daaa9faa0b24be68f6320125a1b1051_4071)</u>

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Francisco, State of California, on the 22th day of June, 2026.

---

| | |
|:---|:---|
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Wayne Ting |
| Name:<br>Title: | Wayne Ting<br>Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Wayne Ting | Chief Executive Officer and Director<br>(Principal Executive Officer) | June 22, 2026 |
| Wayne Ting | Chief Executive Officer and Director<br>(Principal Executive Officer) | June 22, 2026 |
| /s/ Ann Gugino | Chief Financial Officer<br>(Principal Financial Officer) | June 22, 2026 |
| Ann Gugino | Chief Financial Officer<br>(Principal Financial Officer) | June 22, 2026 |
| /s/ Michael Ryan | Chief Accounting Officer<br>(Principal Accounting Officer) | June 22, 2026 |
| Michael Ryan | Chief Accounting Officer<br>(Principal Accounting Officer) | June 22, 2026 |
| \* | Director | June 22, 2026 |
| Zhoujia Brad Bao | Director | June 22, 2026 |
| \* | Director | June 22, 2026 |
| Elizabeth Hamren | Director | June 22, 2026 |
| \* | Director | June 22, 2026 |
| Andrew Macdonald | Director | June 22, 2026 |
| \* | Director | June 22, 2026 |
| Brandon Pedersen | Director | June 22, 2026 |
| \* | Director | June 22, 2026 |
| James Rowan | Director | June 22, 2026 |
| \* | Director | June 22, 2026 |
| Sarah Smith | Director | June 22, 2026 |

---

---

| | |
|:---|:---|
| \*By: | /s/ Susie Giordano |
|  | Susie Giordano |
|  | Attorney-in-Fact |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-1**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Neutron Holdings, Inc.**  |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation or Carry Forward Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| Fees to be Paid | 1 | Equity | Common stock, par value $0.0001 per share | 457(a) | 4153847 | $26.00 | $108000022.00 | 0.0001381 | $14914.80 |
| Fees Previously Paid | 2 | Equity | Common stock, par value $0.0001 per share | 457(a) | 3846153 | $26.00 | $99999978.00 |  | $13810.00 |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| Carry Forward Securities |  |  |  |  |  |  |  |  |  |
|  |  |  | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $208000000.00  |  | $28724.80  |
|  |  |  | Total Fees Previously Paid:  | Total Fees Previously Paid:  | Total Fees Previously Paid:  |  |  |  | $13810.00  |
|  |  |  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
|  |  |  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $14914.80  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (a) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(a) under the Securities Act of 1933, as amended. (b) Includes the aggregate offering price of additional shares that the underwriters have the option to purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> (a) The registrant previously paid a registration fee of $13,810.00 in connection with the initial filing of the Registration Statement on Form S-1 on May 8, 2026. (b) This Maximum Aggregate Offering Price was originally registered under 457(o) and is now converted to 457(a).

---

| |
|:---|
| |
| **Rules 457(b) and 0-11(a)(2)** |
| Fee Offset Claims |
| Fee Offset Sources |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 1.1

**Exhibit 1.1**

**Neutron Holdings, Inc.**

**Common Stock, par value $0.0001 per share**

***<u>Underwriting Agreement</u>***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[●], 2026

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC,

As representatives (the "Representatives") of the several Underwriters

named in Schedule I hereto,

c/o Goldman Sachs & Co. LLC

200 West Street

New York, New York 10282

c/o J.P. Morgan Securities LLC

270 Park Avenue

New York, New York 10017

Ladies and Gentlemen:

Neutron Holdings, Inc., a Delaware corporation (the "Company"), proposes, subject to the terms and conditions stated in this agreement (this "Agreement"), to issue and sell to the Underwriters named in Schedule I hereto (the "Underwriters") an aggregate of [●] shares and, at the election of the Underwriters, up to [●] additional shares of common stock, par value $0.0001 per share, ("Stock") of the Company, and certain stockholders of the Company named in Schedule II hereto (the "Selling Stockholders") propose, subject to the terms and conditions stated in this Agreement, to sell to the Underwriters an aggregate of [●] shares of Stock. The [●] shares of Stock to be sold by the Company and the Selling Stockholders are herein called the "Firm Shares" and the aggregate of up to [●] additional shares of Stock to be sold by the Company are herein called the "Optional Shares." The Firm Shares and the Optional Shares that the Underwriters elect to purchase pursuant to Section 3 hereof are herein collectively called the "Shares".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company represents and warrants to, and agrees with, each of the Underwriters that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;A registration statement on Form S-1 (File No. 333-295679) (the "Initial Registration Statement") in respect of the Shares has been filed with the Securities and Exchange Commission (the "Commission"); the Initial Registration Statement and any post-effective amendment thereto, each in the form heretofore delivered to you, have been declared effective by the Commission in such form; other than a registration statement, if any, increasing the size of the offering (a "Rule 462(b) Registration Statement"), filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the "Act"), which became effective upon filing, no

------

other document with respect to the Initial Registration Statement has been filed with the Commission; no stop order suspending the effectiveness of the Initial Registration Statement, any post-effective amendment thereto or the Rule 462(b) Registration Statement, if any, has been issued and no proceeding for that purpose or pursuant to Section 8A of the Act has been initiated or, to the Company's knowledge, threatened by the Commission (any preliminary prospectus included in the Initial Registration Statement or filed with the Commission pursuant to Rule 424(a) under the Act is hereinafter called a "Preliminary Prospectus"; the various parts of the Initial Registration Statement and the Rule 462(b) Registration Statement, if any, including all exhibits thereto and including the information contained in the form of final prospectus filed with the Commission pursuant to Rule 424(b) under the Act in accordance with Section 6(a) hereof and deemed by virtue of Rule 430A under the Act to be part of the Initial Registration Statement at the time it was declared effective, each as amended at the time such part of the Initial Registration Statement became effective or such part of the Rule 462(b) Registration Statement, if any, became or hereafter becomes effective, are hereinafter collectively called the "Registration Statement"; the Preliminary Prospectus relating to the Shares that was included in the Registration Statement immediately prior to the Applicable Time (as defined in Section 1(c) hereof) is hereinafter called the "Pricing Prospectus"; such final prospectus, in the form first filed pursuant to Rule 424(b) under the Act, is hereinafter called the "Prospectus"; any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Act or Rule 163B under the Act is hereinafter called a "Testing-the-Waters Communication"; and any Testing-the-Waters Communication that is a written communication within the meaning of Rule 405 under the Act is hereinafter called a "Written Testing-the-Waters Communication"; and any "issuer free writing prospectus" as defined in Rule 433 under the Act relating to the Shares is hereinafter called an "Issuer Free Writing Prospectus");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(A) No order preventing or suspending the use of any Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by the Commission, and (B) each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder, and did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; *provided*, *however*, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information (as defined in Section 10(b) of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the purposes of this Agreement, the "Applicable Time" is [●] (Eastern time) on the date of this Agreement. The Pricing Prospectus, as supplemented by the information listed on Schedule III(b) hereto, taken together (collectively, the "Pricing Disclosure Package"), as of the Applicable Time, did not, and as of each Time of Delivery (as defined in Section 5(a) of this Agreement) will not, include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; and each Issuer Free Writing Prospectus and each Written Testing-the-Waters Communication does not conflict with the information contained in the Registration Statement, the Pricing Prospectus or the Prospectus, and each Issuer Free Writing Prospectus and each Written Testing-the-Waters Communication, as supplemented by and taken together with the Pricing Disclosure Package, as of the Applicable Time, did not, and as of each Time of Delivery, will not, include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this

------

representation and warranty shall not apply to statements or omissions made in reliance upon and in conformity with the Underwriter Information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) The Company has not prepared or used any Issuer Free Writing Prospectus, except as set forth on Schedule III(a) hereof, and (ii) no documents were filed with the Commission since the Commission's close of business on the business day immediately prior to the date of this Agreement and prior to the execution of this Agreement, except as set forth on Schedule III(b) hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Registration Statement conforms, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus will conform, in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder and do not and will not, as of the applicable effective date as to each part of the Registration Statement, as of the applicable filing date as to the Prospectus and any amendment or supplement thereto, and as of each Time of Delivery, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries has, since the date of the latest audited financial statements included in the Pricing Prospectus, (i) sustained any loss or interference with its business that is material to the Company and its subsidiaries taken as a whole from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree or (ii) entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and its subsidiaries taken as a whole, in each case of clauses (i) and (ii), other than as set forth or contemplated in the Pricing Prospectus; and, since the respective dates as of which information is given in the Registration Statement and the Pricing Prospectus and other than as described therein, there has not been (x) any change in the capital stock (other than as a result of (i) the exercise or settlement (including any "net" or "cashless" exercises or settlements), if any, of stock options, restricted stock units, or other equity awards, or the award, if any, of stock options, restricted stock units, restricted stock, or other equity awards in the ordinary course of business pursuant to the Company's equity plans that are described in the Pricing Prospectus and the Prospectus, (ii) the repurchase of shares of capital stock upon termination of the holder's employment or service with the Company pursuant to agreements providing for an option to repurchase or a right of first refusal on behalf of the Company that are described in the Pricing Prospectus or the Prospectus, or (iii) the issuance, if any, of stock upon exercise, stock split or conversion of Company securities as described in the Pricing Prospectus and the Prospectus) or long-term debt of the Company or any of its subsidiaries or (y) any Material Adverse Effect (as defined below); as used in this Agreement, "Material Adverse Effect" shall mean any material adverse change or effect, or any development involving a prospective material adverse change or effect, in or affecting (i) the business, properties, general affairs, management, financial position, stockholders' equity, or results of operations of the Company and its subsidiaries, taken as a whole, except as set forth or contemplated in the Pricing Prospectus, or (ii) the ability of the Company to perform its obligations under this Agreement, including the issuance and sale of the Shares, or to consummate the transactions contemplated in the Pricing Prospectus and the Prospectus;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The Company and its subsidiaries do not own any real property. The Company and its subsidiaries have good and marketable title to all personal property owned by them, in each case free and clear of all liens, encumbrances and defects except (i) such as are described the Registration Statement, Pricing Prospectus and the Prospectus or (ii) such as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries; and any real property and buildings held under lease by the Company and its subsidiaries are held by them, to the Company's knowledge, under valid, subsisting and enforceable leases with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and each of its subsidiaries has been (i) duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization (where such concept or an equivalent concept exists), with power and authority (corporate and other) to own its properties and conduct its business as described in the Pricing Prospectus, and (ii) duly qualified as a foreign corporation for the transaction of business and is in good standing (where such concept or an equivalent concept exists) under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except, in the case of this clause (ii), where the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, and each significant subsidiary (as such term is defined in Rule 1-02 of Regulation S-X promulgated under the Act), if any, of the Company has been listed in Exhibit 21.1 to the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Company has an authorized capitalization as set forth in the Pricing Prospectus and all of the issued and outstanding shares of capital stock of the Company, including the Shares to be sold by the Selling Stockholders, have been duly and validly authorized and issued and are fully paid and non-assessable and conform in all material respects to the description of the Stock contained in the Pricing Disclosure Package and the Prospectus; and all of the issued and outstanding shares of capital stock of each subsidiary of the Company have been duly and validly authorized and issued, are fully paid and non-assessable and (except, in the case of any foreign subsidiary, for directors' qualifying shares) are owned directly or indirectly by the Company, and except as described in the Registration Statement, the Pricing Prospectus, and the Prospectus, are free and clear of all liens, encumbrances, equities or claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;The Shares to be issued and sold by the Company to the Underwriters hereunder have been duly and validly authorized and, when issued and delivered against payment therefor as provided herein, will be duly and validly issued and fully paid and non-assessable and will conform in all material respects to the description of the Stock contained in the Pricing Disclosure Package and the Prospectus; and the issuance of the Shares is not subject to any preemptive or similar rights, in each case other than rights that have been complied with or waived in writing as of the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The issue and sale of the Shares to be sold by the Company and the compliance by the Company with this Agreement and the consummation of the transactions contemplated in this Agreement and the Pricing Prospectus will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, (A) any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which the Company or

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any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (B) the certificate of incorporation or by-laws (or other applicable organizational document) of the Company or any of its subsidiaries, or (C) any statute or any judgment, order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties; except, in the case of this clause (A) and (C) for such defaults, breaches, or violations that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the issue of the Shares to be sold by the Company or the consummation by the Company of the transactions contemplated by this Agreement, except such as have been obtained under the Act**,** the approval by the Financial Industry Regulatory Authority ("FINRA") of the underwriting terms and arrangements, the approval for listing on The Nasdaq Global Select Market (the "Exchange"), and such consents, approvals, authorizations, orders, registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Shares by the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries is (i) in violation of its certificate of incorporation or by-laws (or other applicable organizational document), (ii) in violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties, or (iii) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, except, in the case of the foregoing clauses (ii) and (iii), for such violations or defaults as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;The statements set forth in the Pricing Prospectus and the Prospectus under the caption "Description of Capital Stock", insofar as they purport to constitute a summary of the terms of the Stock, under the caption "Material U.S. Federal Income Tax Consequences to Non-U.S. Holders", and under the caption "Underwriting", insofar as they purport to describe the provisions of the laws and documents referred to therein, are accurate, complete and fair in all material respects; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Other than as set forth in the Pricing Prospectus, there are no legal, governmental or regulatory investigations, actions, demands, claims, suits, arbitrations, inquiries or proceedings ("Actions") pending to which the Company or any of its subsidiaries or, to the Company's knowledge, any officer or director of the Company, is a party or of which any property of the Company or any of its subsidiaries or, to the Company's knowledge, any officer or director of the Company, is the subject which, if determined adversely to the Company or any of its subsidiaries (or such officer or director), would individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and, to the Company's knowledge, no such proceedings are threatened or contemplated by governmental authorities or others; there are no current or pending Actions that are required under the Act to be described in the Registration Statement or the Pricing Prospectus that are not so described therein; and there are no statutes, regulations or contracts or other documents that are required under the Act to be filed as exhibits to the Registration Statement or described in the Registration Statement, the Pricing

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Prospectus that are not so filed as exhibits to the Registration Statement or described in the Registration Statement and the Pricing Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;The Company is not and, after giving effect to the offering and sale of the Shares to be sold by the Company and the application of the proceeds thereof, will not be an "investment company", as such term is defined in the Investment Company Act of 1940, as amended (the "Investment Company Act");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;At the time of filing the Initial Registration Statement and any post-effective amendment thereto, at the earliest time thereafter that the Company or any offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Act) of the Shares, and at the date hereof, the Company was not and is not an "ineligible issuer," as defined under Rule 405 under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)**&nbsp;&nbsp;&nbsp;&nbsp;**KPMG LLP, who have certified the consolidated financial statements of the Company and its subsidiaries, are independent registered public accountants as required by the Act and the rules and regulations of the Commission thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) that (i) has been designed to comply with the applicable requirements of the Exchange Act, (ii) has been designed by the Company's principal executive officer and principal financial officer, or under their 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 and (iii) is designed to provide reasonable assurance that (A) transactions are executed in accordance with management's general or specific authorization, (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets, (C) access to assets is permitted only in accordance with management's general or specific authorization and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences (it being understood that this subsection will not require the Company to comply with Section 404 of the Sarbanes Oxley Act of 2002, as amended, as of an earlier date than it would otherwise be required to so comply under applicable law); and, except as described in the Registration Statement, Pricing Prospectus and Prospectus, the Company's internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Since the date of the latest audited financial statements included in the Pricing Prospectus, there has been no change in the Company's internal control over financial reporting that has materially and adversely affected, or is reasonably likely to materially and adversely affect, the Company's internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply with the applicable requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material information relating to the Company and its subsidiaries is made known to the

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Company's principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement has been duly authorized, executed and delivered by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries, nor any director or officer of the Company or any of its subsidiaries nor, to the knowledge of the Company, any agent, employee, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) made, offered, promised, authorized or approved any unlawful contribution, gift, entertainment, property, anything else of value or other unlawful expense (or taken any act in furtherance thereof); (ii) made, offered, promised, authorized or approved any direct or indirect unlawful payment; or (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or the rules and regulations thereunder, the Bribery Act 2010 of the United Kingdom or any other applicable anti-corruption, anti-bribery or related law, statute, regulation, order, decree or directive having the force of law (collectively, "Anti-Corruption Laws"); the Company and its subsidiaries have conducted their businesses in compliance with Anti-Corruption Laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; neither the Company nor any of its subsidiaries will use, directly or indirectly, the proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable Anti-Corruption Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with the requirements of applicable anti-money laundering laws, including, but not limited to, the Bank Secrecy Act of 1970, as amended by the USA PATRIOT ACT of 2001, and the rules and regulations promulgated thereunder, and the applicable anti-money laundering laws of the various jurisdictions in which the Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulation or guidelines issued, administered or enforced by any governmental agency (collectively, the "Money Laundering Laws") and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries, nor any director or officer of the Company or any of its subsidiaries nor, to the knowledge of the Company, any employee, agent, controlled affiliate or other person acting on behalf of the Company or any of its subsidiaries is (i) currently the subject or the target of, or is 50% or more owned or controlled by one or more individuals or entities ("Persons") that are the subject of, any sanctions administered or enforced by the U.S. Government, including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury ("OFAC"), or the U.S. Department of State and including, without limitation, the designation as a "specially designated national" or "blocked person," the European Union, the United Kingdom government (including the Foreign, Commonwealth & Development Office), the United Nations Security Council, or other relevant sanctions authority (collectively, "Sanctions"), (ii) located, organized, or resident in a country or territory that is the subject or target of Sanctions (a "Sanctioned Jurisdiction") (including, without limitation, the so-

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called Donetsk People's Republic, the so-called Luhansk People's Republic, or any other Covered Region of Ukraine identified pursuant to Executive Order 14065, Crimea, Cuba, Iran, North Korea and Syria), and the Company will not directly or knowingly indirectly use the proceeds of the offering of the Shares hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (i) to fund or facilitate any activities of or business with any Person, or in any country or territory, that, at the time of such funding or facilitation, is the subject or the target of Sanctions, (ii) to fund or facilitate any money laundering or terrorist financing activities, or (ii) in any other manner that will result in a violation by any Person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise), of any Anti-Corruption Laws, Money Laundering Laws, or Sanctions; neither the Company nor any of its subsidiaries is engaged in, will engage in, or has, at any time since April 24, 2019, engaged in, any dealings or transactions with or involving any Person that was or is, as applicable, at the time of such dealing or transaction, the subject or target of Sanctions or with any Sanctioned Jurisdiction; the Company and its subsidiaries have instituted, and maintain, policies and procedures reasonably designed to promote and achieve continued compliance with Sanctions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements included in the Registration Statement, the Pricing Prospectus and the Prospectus, together with the related schedules and notes, present fairly in all material respects the financial position of the Company and its subsidiaries at the dates indicated and the statement of operations, stockholders' equity and cash flows of the Company and its subsidiaries for the periods specified; said financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") applied on a consistent basis throughout the periods involved. The supporting schedules, if any, present fairly in accordance with GAAP the information required to be stated therein. The selected financial data and the summary financial information included in the Registration Statement, the Pricing Prospectus and the Prospectus present fairly in all material respects the information shown therein and have been compiled on a basis consistent with that of the audited financial statements included therein. Except as included therein, no historical or pro forma financial statements or supporting schedules are required to be included in the Registration Statement, the Pricing Prospectus or the Prospectus under the Act or the rules and regulations promulgated thereunder. All disclosures contained in the Registration Statement, the Pricing Prospectus and the Prospectus regarding "non-GAAP financial measures" (as such term is defined by the rules and regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K of the Act, to the extent applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company and each of its subsidiaries own or otherwise believe that it has adequate rights to use all material patents, patent applications, trademarks, service marks, trade names, domain names, and all other source indicators, copyrights and registrations and applications thereof, copyrightable works, works of authorship, licenses, know-how, software, source code, systems and technology (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) and all other worldwide intellectual property and proprietary rights (including all registrations and applications for registration of, and all goodwill associated with any of the foregoing) (collectively, "Intellectual Property Rights") necessary for the conduct of their respective businesses as currently conducted; (ii) the registered Intellectual Property Rights owned by the Company and each of its subsidiaries are subsisting and, to the Company's knowledge, valid and enforceable, and there

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is no pending or, to the Company's knowledge, threatened action, suit, proceeding or claim by others challenging the validity, scope or enforceability of, or any rights of the Company or any of its subsidiaries in, any such Intellectual Property Rights; (iii) the Company and each of its subsidiaries do not, through the conduct of their respective businesses as currently conducted, infringe, misappropriate, or otherwise violate any third-party Intellectual Property Rights; (iv) the Company and each of its subsidiaries have not received any written notice alleging any claim of infringement, misappropriation, or other violation of any third-party Intellectual Property Rights; (v) to the Company's knowledge, no third party is infringing, misappropriating, or otherwise violating any Intellectual Property Rights owned by the Company or any of its subsidiaries; (vi) all employees and contractors engaged in the development of Intellectual Property Rights for the Company or any subsidiary of the Company have executed an invention assignment agreement whereby such employees and contractors presently assign all of their right, title and interest in, to and under such Intellectual Property Rights to the Company or the applicable subsidiary; and (vii) the Company and its subsidiaries use commercially reasonable efforts to maintain the confidentiality of all information intended to be maintained as a trade secret, and no such trade secrets have been disclosed other than pursuant to written confidentiality agreements, except, with respect to each of (i) through (vii), as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (bb) (i) The Company and its subsidiaries use any and all software and other materials distributed under a "free," "open source," or similar licensing model (including but not limited to the MIT License, Apache License, GNU General Public License, GNU Lesser General Public License and GNU Affero General Public License) (collectively, "Open Source Software") in compliance with all license terms applicable to such Open Source Software; and (ii) neither the Company nor any of its subsidiaries uses or distributes, any Open Source Software in any manner that requires or has required (A) the Company or any of its subsidiaries to permit reverse engineering of any software code or other technology owned by the Company or any of its subsidiaries or (B) any software code or other technology owned by the Company or any of its subsidiaries to be (1) disclosed or distributed in source code form, (2) licensed for the purpose of making derivative works or (3) redistributed at no charge, except, with respect to each of (i) and (ii), as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp; Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect: (i) the Company and its subsidiaries are presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority and any other legal obligations, external and published policies, binding industry standards and contractual obligations, in each case, relating to the collection, use, transfer, import, export, storage, protection, privacy, security, disposal and disclosure or other processing by the Company or any of its subsidiaries of personal, personally identifiable, or confidential data or information, or information that constitutes "personal information" or any similar term under applicable law ("Data Security Obligations," and such data and information, "Personal Data"); (ii) the Company and its subsidiaries have not received any written notification of or complaint regarding non-compliance with any Data Security Obligation by the Company or any of its subsidiaries; and (iii) there is no action, suit, investigation or proceeding by or before any court or governmental agency, authority or body pending or, to the Company's knowledge, threatened alleging non-compliance with any Data Security Obligation by the Company or any of its subsidiaries;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) The Company and its subsidiaries' information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, technology, data and databases (collectively, the "IT Systems") and the Personal Data and the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of the Company and its subsidiaries (collectively, "Data") (i) are adequate in all material respects for, and operate and perform in all material respects as required in connection with the operation of the business of the Company and its subsidiaries as currently conducted; (ii) have not materially malfunctioned or failed in a manner that has not been remediated; and (iii) to the Company's knowledge, are free of all material bugs, errors, defects, Trojan horses, time bombs, back doors, drop dead devices, malware and other corruptants. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company and its subsidiaries have implemented and maintained commercially reasonable controls, policies, procedures, and safeguards designed to maintain and protect their confidential information and the integrity, continuity, redundancy and security of the IT Systems owned or leased by the Company or any of its subsidiaries and the Data used in connection with their businesses or as required by applicable regulatory requirements. There have been no security breaches or incidents, destruction, loss, disruption, violations, outages, misappropriation or modification, or unauthorized disclosures, uses of or accesses to or other compromise of or relating to any IT Systems owned or leased by the Company or any of its subsidiaries or any Data (each a "Breach"), except for those that have been remedied without material cost or liability or the duty to notify any other person; and the Company and each of its subsidiaries own or have a valid right to access and use all IT Systems owned or leased by the Company or any of its subsidiaries and all Data used in, held for use in or reasonably necessary to the conduct of their respective businesses as now conducted by them;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;No forward-looking statement (within the meaning of Section 27A of the Act and Section 21E of the Exchange Act) included in any of the Registration Statement, the Pricing Prospectus or the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;Nothing has come to the attention of the Company that has caused the Company to believe that the statistical and market-related data included in each of the Registration Statement, the Pricing Prospectus and the Prospectus is not based on or derived from sources that are reliable and accurate in all material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;&nbsp;&nbsp;&nbsp;There is and has been no failure on the part of the Company or any of the Company's directors or officers, in their capacities as such, to comply with any applicable provision of the Sarbanes-Oxley Act of 2002, as amended, including Section 402 related to loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its affiliates has taken or will take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company or any of its subsidiaries in connection with the offering of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company and each of its subsidiaries have such permits, licenses, approvals, consents, franchises, certificates of need and other approvals or authorizations of governmental or regulatory authorities ("Permits") as are necessary under applicable law to own their respective properties and conduct their respective businesses in the manner described in the

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Registration Statement, the Pricing Prospectus and the Prospectus, except for any of the foregoing that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received notice of any proceedings related to the revocation or modification of any such Permits that, individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) The Company and its subsidiaries, taken as a whole, are insured against such losses and risks and in such amounts as are, in the Company's judgment, prudent and customary in the businesses in which they are engaged and as required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)&nbsp;&nbsp;&nbsp;&nbsp;From the time of initial confidential submission of a registration statement relating to the Shares with the Commission through the date hereof, the Company has been and is an "emerging growth company" as defined in Section 2(a)(19) of the Act (an "Emerging Growth Company");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;&nbsp;The Company and its subsidiaries have paid all applicable federal, state, local and non-U.S. taxes and filed all tax returns required to be paid or filed through the date hereof, except where the failure to file or pay would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect or except with respect to taxes that are currently being contested in good faith and for which adequate reserves required by GAAP have been created in the applicable financial statements. No unpaid tax deficiency has been determined adversely to the Company or any of its subsidiaries which has had (nor does the Company nor any of its subsidiaries have any notice or knowledge of any unpaid tax deficiency which would reasonably be expected to be determined adversely to the Company or its subsidiaries and which would reasonably be expected to have) a Material Adverse Effect on the Company and its subsidiaries, taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) &nbsp;&nbsp;&nbsp;&nbsp;There are no transfer, stamp, issue, registration, documentary or other similar taxes, duties, fees or charges under U.S. federal law or the laws of any state, or any political subdivision thereof, or under the laws of any non-U.S. jurisdiction, required to be paid in connection with the execution and delivery of this Agreement or the issuance or sale by the Company of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) &nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries is a "covered foreign person" as that term is used in the Outbound Investment Rules. Neither the company nor any of its subsidiaries currently engages, or has any present intention to engage in the future, directly or indirectly, in (i) a "covered activity" or a "covered transaction", as each such term is defined in the Outbound Investment Rules, (ii) any activity or transaction that would constitute a "covered activity" or a "covered transaction", as each such term is defined in the Outbound Investment Rules, if the Company were a U.S. Person or (iii) any other activity that would cause the Underwriters to be in violation of the Outbound Investment Rules or cause the Underwriters to be legally prohibited by the Outbound Investment Rules from performing under this Agreement. For the purpose of this Agreement, "Outbound Investment Rules" means the regulations administered and enforced, together with any related public guidance issued, by the United States Treasury Department under U.S. Executive Order 14105 of August 9, 2023, or any similar law or regulation as of the date of this Agreement, and as codified at 31 C.F.R. §850.202 et seq.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Each of the Selling Stockholders severally and not jointly represents and warrants to, and agrees with, each of the Underwriters and the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All consents, approvals, authorizations and orders necessary for the execution and delivery by or on behalf of such Selling Stockholder of this Agreement and the Power of Attorney and the Custody Agreement referred to below, and for the sale and delivery of the Shares to be sold by such Selling Stockholder to the Underwriters hereunder, have been obtained except for the registration under the Act of the Shares and such consents, approvals, authorizations and orders as may be required under state securities or Blue Sky laws or non-U.S. laws of any jurisdiction in connection with the purchase and distribution of the Shares by the Underwriters, the rules and regulations of FINRA or the approval for listing on the Exchange or such other consents, approvals, authorizations and orders as have been or will be made or obtained on or prior to the First Time of Delivery; and such Selling Stockholder has full right, power and authority to enter into this Agreement, the Power of Attorney and the Custody Agreement and to sell, assign, transfer and deliver the Shares to be sold to the Underwriters by or on behalf of such Selling Stockholder hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The sale of the Shares to be sold by such Selling Stockholder hereunder and the compliance by such Selling Stockholder with this Agreement, the Power of Attorney and the Custody Agreement and the consummation of the transactions herein and therein contemplated will not (1) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which such Selling Stockholder is a party or by which such Selling Stockholder is bound or to which any of the property or assets of such Selling Stockholder is subject, or (2) result in any violation of (i) the provisions of the Certificate of Incorporation or Bylaws of such Selling Stockholder if such Selling Stockholder is a corporation, the Partnership Agreement of such Selling Stockholder if such Selling Stockholder is a partnership (or similar applicable organizational document) or (ii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body having jurisdiction over such Selling Stockholder or any of its subsidiaries or any property or assets of such Selling Stockholder except, in the case of clauses (1) and 2(ii) above, for such conflicts, defaults, breaches or violations that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Selling Stockholder to consummate the transactions contemplated by this Agreement, the Custody Agreement and the Power of Attorney; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental body or agency is required for the performance by such Selling Stockholder of its obligations under this Agreement, the Power of Attorney and the Custody Agreement and the consummation by such Selling Stockholder of the transactions contemplated by this Agreement, the Power of Attorney and the Custody Agreement in connection with the Shares to be sold by such Selling Stockholder hereunder, except the registration under the Act of the Shares and such consents, approvals, authorizations, orders, registrations or qualifications as may be required under state securities, Blue Sky laws or non-U.S. laws of any jurisdiction, the rules and regulations of FINRA or the listing on the Exchange in connection with the purchase of the Shares by the Underwriters and such consents, approvals, authorizations, orders, registrations or qualifications that have already been obtained, made or waived in connection with the purchase of the Shares by the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Such Selling Stockholder has, and immediately prior to the Time of Delivery (as defined in Section 5(a) of this Agreement) such Selling Stockholder will have, good and valid

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title to, or a valid "security entitlement" within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Stockholder hereunder at such Time of Delivery, free and clear of all liens, encumbrances, equities or claims; and, upon delivery of such Shares and payment therefor pursuant hereto, good and valid title to such Shares, free and clear of all liens, encumbrances, equities or claims, will pass to the several Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;On or prior to the date of the Pricing Prospectus, such Selling Stockholder has executed and delivered to the Underwriters a Lock-Up Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Such Selling Stockholder has not taken and will not take, directly or indirectly, any action that is designed to or that has constituted or might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement and Preliminary Prospectus did, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus will, when they become effective or are filed with the Commission, as the case may be, not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; provided that this representation and warranty shall be limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Stockholder furnished to the Company in writing by such Selling Stockholder expressly for use in the Pricing Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that the only information furnished by such Selling Stockholder consists of the name of such Selling Stockholder, the number of offered shares and the address and other information of such Selling Stockholder which appear in the Pricing Prospectus, the Prospectus or any amendments or supplements thereto in the table (and corresponding footnotes) under the caption "Principal and Selling Stockholders" and, if such Selling Stockholder is a director or executive officer of the Company, the biographical information of such Selling Stockholder as set forth under the caption "Management" in the Registration Statement, the Pricing Prospectus, the Prospectus or any amendments or supplements thereto (with respect to each Selling Stockholder, the "Selling Stockholder Information");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;In order to document the Underwriters' compliance with the reporting and withholding provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect to the transactions herein contemplated, such Selling Stockholder will deliver to you prior to or at the First Time of Delivery a properly completed and executed United States Treasury Department Form W-9 or applicable United States Treasury Department Form W-8 (or other applicable form or statement specified by Treasury Department regulations in lieu thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Certificates in negotiable form or book-entry securities entitlements representing all of the Shares to be sold by or on behalf of such Selling Stockholder hereunder have been placed in custody under a Custody Agreement, in the form heretofore furnished to you (the "Custody Agreement"), duly executed and delivered by such Selling Stockholder to Computershare Inc., as custodian (the "Custodian"), and such Selling Stockholder has duly executed and delivered a Power of Attorney, in the form heretofore furnished to you (the "Power of Attorney"), appointing the persons indicated in Schedule II hereto, and each of them, as such Selling Stockholder's attorneys-in-fact (the "Attorneys-in-Fact") with authority to execute and

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deliver this Agreement on behalf of such Selling Stockholder, to determine the purchase price to be paid by the Underwriters to the Selling Stockholders as provided in Section 3 hereof, to authorize the delivery of the Shares to be sold by such Selling Stockholder hereunder and otherwise to act on behalf of such Selling Stockholder in connection with the transactions contemplated by this Agreement and the Custody Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Shares held in custody for such Selling Stockholder under the Custody Agreement are subject to the interests of the Underwriters hereunder; the arrangements made by such Selling Stockholder for such custody, and the appointment by such Selling Stockholder of the Attorneys-in-Fact by the Power of Attorney, are to that extent irrevocable; the obligations of the Selling Stockholders hereunder shall not be terminated by operation of law, whether by the death or incapacity of any individual Selling Stockholder or, in the case of an estate or trust, by the death or incapacity of any executor or trustee or the termination of such estate or trust, or in the case of a partnership or corporation, by the dissolution of such partnership, limited liability company or corporation, or by the occurrence of any other event; if any individual Selling Stockholder or any such executor or trustee should die or become incapacitated, or if any such estate or trust should be terminated, or if any such partnership, limited liability company or corporation should be dissolved, or if any other such event should occur, before the delivery of the Shares to be sold by such Selling Stockholder hereunder, certificates representing the Shares to be sold by such Selling Stockholder hereunder shall be delivered by or on behalf of the Selling Stockholders in accordance with the terms and conditions of this Agreement and of the Custody Agreements; and actions taken by the Attorneys-in-Fact pursuant to the Powers of Attorney shall be as valid as if such death, incapacity, termination, dissolution or other event had not occurred, regardless of whether or not the Custodian, the Attorneys-in-Fact, or any of them, shall have received notice of such death, incapacity, termination, dissolution or other event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Such Selling Stockholder will not directly or indirectly use the proceeds of the offering of the Shares hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, (i) to fund or facilitate any activities of or business with any person, or in any country or territory, that, at the time of such funding, is the subject or the target of Sanctions, or in any other manner that will result in a violation by any person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions, or (ii) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any Money Laundering Laws or any Anti-Corruption Laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Such Selling Stockholder is not prompted by any material information concerning the Company or any of its subsidiaries that is not disclosed in the Pricing Prospectus to sell its Shares pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;If such Selling Stockholder is an entity, such Selling Stockholder has been duly organized and is validly existing and in good standing (where such concept or an equivalent concept exists), in each case, under the laws of its respective jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp; Each Selling Stockholder listed on Schedule II hereto, and organized or domiciled outside the United States (each, a "Non-U.S. Selling Stockholder") agrees that no stamp duties or other transfer taxes or any interest or penalties attributable thereto are payable by or on behalf of the Underwriters in such Non-U.S. Selling Stockholder's jurisdiction of organization or

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any taxing authority thereof, the United States or any political subdivision or taxing authority thereof in connection with (i) the execution, delivery and performance of this Agreement, or (ii) the sale and/or delivery of the Shares by such Non-U.S. Selling Stockholder in the manner contemplated by this Agreement and Pricing Disclosure Package.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;To the extent any payment is to be made by such Non-U.S. Selling Stockholder pursuant to this Agreement, such Non-U.S. Selling Stockholder has access, subject to the laws of the jurisdiction of such Non-U.S. Selling Stockholder's organization, to the internal currency market in such jurisdiction and, to the extent necessary, valid agreements commercial banks for purchasing U.S. dollars to make payments of amounts which may be payable under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Any final judgment for a fixed or determined sum of money rendered by any U.S. federal or New York state court located in the State of New York having jurisdiction under its own laws in respect of any suit, action or proceeding against such Non-U.S. Selling Stockholder based upon this Agreement would be declared enforceable against such Non-U.S. Selling Stockholder by the courts of the jurisdiction of such Non-U.S. Selling Stockholder, without reconsideration or reexamination of the merits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;The choice of laws of the State of New York as the governing law of this Agreement is a valid choice of law under the laws of the jurisdiction of such Non-U.S. Selling Stockholder and will be honored by the courts of the jurisdiction of such Non-U.S. Selling Stockholder. Such Non-U.S. Selling Stockholder has the power to submit, and pursuant to Section 19 of this Agreement, has legally, validly, effectively and irrevocably submitted, to the personal jurisdiction of each New York state and United States federal court sitting in the City of New York and has validly and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in such court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Subject to the terms and conditions herein set forth, (a) the Company and each of the Selling Stockholders agree, severally and not jointly, to sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company and each of the Selling Stockholders, at a purchase price per share of $[●], the number of Firm Shares (to be adjusted by the Representatives so as to eliminate fractional shares) determined by multiplying the aggregate number of Firm Shares to be sold by the Company and each of the Selling Stockholders as set forth opposite their respective names in Schedule II hereto by a fraction, the numerator of which is the aggregate number of Firm Shares to be purchased by such Underwriter as set forth opposite the name of such Underwriter in Schedule I hereto and the denominator of which is the aggregate number of Firm Shares to be purchased by all of the Underwriters from the Company and all of the Selling Stockholders hereunder and (b) in the event and to the extent that the Underwriters shall exercise the election to purchase Optional Shares as provided below, the Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at the purchase price per share set forth in clause (a) of this Section 3 (provided that the purchase price per Optional Share shall be reduced by an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Optional Shares), that portion of the number of Optional Shares as to which such election shall have been exercised (to be adjusted by you so as to eliminate fractional shares) determined by multiplying such number of Optional Shares by a fraction, the numerator of which is the maximum number of Optional Shares which such Underwriter is entitled to purchase as

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set forth opposite the name of such Underwriter in Schedule I hereto and the denominator of which is the maximum number of Optional Shares that all of the Underwriters are entitled to purchase hereunder.

The Company hereby grants to the Underwriters the right to purchase at their election up to [●] Optional Shares, at the purchase price per share set forth in the paragraph above, provided that the purchase price per Optional Share shall be reduced by an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Optional Shares. Any such election to purchase Optional Shares may be exercised only by written notice from you to the Company, given within a period of 30 calendar days after the date of this Agreement, setting forth the aggregate number of Optional Shares to be purchased and the date on which such Optional Shares are to be delivered, as determined by you but in no event earlier than the First Time of Delivery (as defined in Section 5 hereof) or, unless you and the Company otherwise agree in writing, earlier than one or later than ten business days after the date of such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;Upon the authorization by you of the release of the Shares, the several Underwriters propose to offer the Shares for sale upon the terms and conditions set forth in the Pricing Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;(a) The Shares to be purchased by each Underwriter hereunder, in definitive or book-entry form, and in such authorized denominations and registered in such names as the Representatives may request upon at least twenty-four hours' prior notice to the Company and the Selling Stockholders shall be delivered by or on behalf of the Company and the Selling Stockholders to the Representatives, through the facilities of the Depository Trust Company ("DTC"), for the account of such Underwriter, against payment by or on behalf of such Underwriter of the purchase price therefor by wire transfer of Federal (same-day) funds to the account specified by the Company and the Custodian to the Representatives at least twenty-four hours in advance. The Company and the Selling Stockholders will cause the certificates, if any, representing the Shares to be made available for checking and packaging at least twenty-four hours prior to the Time of Delivery (as defined below) with respect thereto at the office of DTC or its designated custodian (the "Designated Office"). The time and date of such delivery and payment shall be, with respect to the Firm Shares, [9:30] a.m., New York City time, on [●], 2026 or such other time and date as the Representatives, the Company and the Attorneys-in-Fact may agree upon in writing, and, with respect to the Optional Shares, [9:30] a.m., New York City time, on the date specified by the Representatives in the written notice given by the Representatives of the Underwriters' election to purchase such Optional Shares, or such other time and date as the Representatives and the Company may agree upon in writing. Such time and date for delivery of the Firm Shares is herein called the "First Time of Delivery", such time and date for delivery of the Optional Shares, if not the First Time of Delivery, is herein called the "Second Time of Delivery", and each such time and date for delivery is herein called a "Time of Delivery".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The documents to be delivered at each Time of Delivery by or on behalf of the parties hereto pursuant to Section 9 hereof, including the cross receipt for the Shares and any additional documents requested by the Underwriters pursuant to Section 9(j) hereof, will be delivered at the offices of Davis Polk & Wardwell LLP, 900 Middlefield Road, Redwood City, California 94063 (the "Closing Location"), and the Shares will be delivered at the Designated Office, all at such Time of Delivery. A meeting will be held at the Closing Location at [●], New

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York City time, on the New York Business Day next preceding such Time of Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto. For the purposes of this Section 5, "New York Business Day" shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally authorized or obligated by law or executive order to close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;The Company agrees with each of the Underwriters:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To prepare the Prospectus in a form approved by you and to file such Prospectus pursuant to Rule 424(b) under the Act prior to the earlier of (i) the First Time of Delivery and (ii) the Commission's close of business on the second business day following the execution and delivery of this Agreement, or, if applicable, such earlier time as may be required by Rule 430A(a)(3) under the Act; to make no further amendment or any supplement to the Registration Statement or the Prospectus prior to the last Time of Delivery which shall be disapproved by you promptly after reasonable notice thereof; to advise you, promptly after it receives notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus has been filed and to furnish you with copies thereof; to file promptly all material required to be filed by the Company with the Commission pursuant to Rule 433(d) under the Act; to advise you, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus in respect of the Shares, of the suspension of the qualification of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus or suspending any such qualification, to promptly use its reasonable best efforts to obtain the withdrawal of such order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Promptly from time to time to take such action as you may reasonably request to qualify the Shares for offering and sale under the securities laws of such jurisdictions as you may reasonably request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not be required to (i) qualify as a foreign corporation (where not otherwise required) or to file a general consent to service of process in any jurisdiction (where not otherwise required) or (ii) subject itself to taxation in any such jurisdiction in which it was not otherwise subject to taxation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Prior to 10:00 a.m., New York City time, on the New York Business Day next succeeding the date of this Agreement (or such later date and time as may be agreed to by the Representatives and the Company) and from time to time, to furnish the Underwriters with written and electronic copies of the Prospectus in New York City in such quantities as you may reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required at any time prior to the expiration of nine months after the time of issue of the Prospectus in connection with the offering or sale of the Shares and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances

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under which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Prospectus in order to comply with the Act, to notify you and upon your request to prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies as you may from time to time reasonably request of an amended Prospectus or a supplement to the Prospectus which will correct such statement or omission or effect such compliance; and in case any Underwriter is required to deliver a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) in connection with sales of any of the Shares at any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter, to prepare and deliver to such Underwriter as many written and electronic copies as you may request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To make generally available to its securityholders as soon as practicable (which may be satisfied by filing with the Commission's Electronic Data Gathering Analysis and Retrieval system ("EDGAR")), but in any event not later than sixteen months after the effective date of the Registration Statement (as defined in Rule 158(c) under the Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Act and the rules and regulations of the Commission thereunder (including, at the option of the Company, Rule 158);

(e)(1)&nbsp;&nbsp;&nbsp;&nbsp;During the period beginning from the date hereof and continuing to and including the date 160 days after the date of the Prospectus (the "Lock-Up Period"), not to (i) offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly, or file with or confidentially submit to the Commission a registration statement under the Act relating to, any securities of the Company that are substantially similar to the Shares, including but not limited to any options or warrants to purchase shares of Stock or any securities that are convertible into or exchangeable for, or that represent the right to receive, Stock or any such substantially similar securities, or publicly disclose the intention to make any offer, sale, pledge, disposition or filing or (ii) enter into, or publicly disclose the intention to enter into, any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Stock or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Stock or such other securities, in cash or otherwise (other than the Shares to be sold hereunder or pursuant to employee stock option plans existing on, or upon the conversion or exchange of convertible or exchangeable securities outstanding as of, the date of this Agreement), without the prior written consent of the Representatives;

The restrictions contained in the preceding paragraph shall not apply to (A) the Shares to be sold hereunder, (B) the issuance by the Company of shares of Stock upon the exercise of options or the settlement of restricted stock units (including any "net" or "cashless" exercise or settlement) outstanding as of, or issued after, the date hereof pursuant to the Company's equity plans described in the Pricing Prospectus and the Prospectus (C) the issuance by the Company of shares of Stock upon the conversion or exchange of convertible or exchangeable securities or exercise of warrants (including any "net" or "cashless" exercise) outstanding as of the date hereof and described in the Pricing Prospectus and the Prospectus, (D) the issuance by the Company of shares of Stock or securities convertible into, exchangeable for or that represent the right to receive shares of Stock in connection with (x) the acquisition by the Company or any

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of its subsidiaries of the securities, business, technology, property or other assets of another person or entity or pursuant to an employee benefit plan assumed by the Company in connection with such acquisition, and the issuance of any such securities pursuant to any such agreement, or (y) the Company's joint ventures, commercial relationships and other strategic transactions, (E) the filing of any registration statement(s) on Form S-8 relating to the securities granted or to be granted pursuant to (i) the Company's equity plans that are described in the Pricing Prospectus and the Prospectus or (ii) any assumed employee benefit plan contemplated by clause (D), (F) the issuance by the Company of shares of Stock in connection with any stock split as described in the Pricing Prospectus and the Prospectus, or (G) facilitating the establishment of a trading plan on behalf of a securityholder, officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Stock as permitted by a Lock-Up Agreement; provided, that the aggregate number of shares of Stock that the Company may sell or issue or agree to sell or issue pursuant to clause (D) shall not exceed 10% of the total number of shares of Stock outstanding immediately following the issuance of the Shares contemplated by this Agreement; and provided further, that in the case of clauses (B), (C) and (D), the Company shall cause each recipient of such securities to execute and deliver to the Representatives, on or prior to the issuance of such securities, a Lock-Up Agreement for the remainder of the Lock-Up Period and enter stop transfer instructions with the Company's transfer agent and registrar on such securities, which the Company agrees it will not waive or amend without the prior written consent of the Representatives;

In addition, during the Lock-Up Period, the Company agrees to (a) enforce the market standoff provisions and any similar transfer restrictions contained in any agreement between the Company and any of its securityholders, including, without limitation, through the issuance of stop transfer instructions to the Company's transfer agent and registrar with respect to any transaction that would constitute a breach of, or default under, the transfer restrictions, except that this provision shall not prevent the Company from effecting such a waiver or amendment to permit a transfer of securities that would be permissible under the terms of the Lock-Up Agreement, and (b) not amend or waive any such transfer restrictions with respect to any such holder without the prior written consent of the Representatives;

(e)(2)&nbsp;&nbsp;&nbsp;&nbsp;If the Representatives, in their sole discretion, agree to release or waive the restrictions set forth in a Lock-Up Agreement described in Section 9(j) hereof for an officer or director of the Company and provide the Company with notice of the impending release or waiver at least three business days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Annex I hereto through a major news service at least two business days before the effective date of the release or waiver;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;During a period of three years from the effective date of the Registration Statement, so long as the Company is subject to the reporting requirements of either Section 13 or Section 15(d) of the Exchange Act, to furnish to its stockholders as soon as practicable after the end of each fiscal year an annual report (including a balance sheet and statements of income, stockholders' equity and cash flows of the Company and its consolidated subsidiaries certified by independent public accountants) and, as soon as practicable after the end of each of the first three quarters of each fiscal year (beginning with the fiscal quarter ending after the effective date of the Registration Statement), to make available to its stockholders consolidated summary financial information of the Company and its subsidiaries for such quarter in

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reasonable detail; provided that no reports, documents or other information need to be furnished pursuant to this Section 6(f) to the extent that they are available on EDGAR;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;During a period of three years from the effective date of the Registration Statement, so long as the Company is subject to the reporting requirements of either Section 13 or Section 15(d) of the Exchange Act, to furnish to you copies of all reports or other communications (financial or other) furnished to stockholders, and to deliver to you (i) as soon as they are available, copies of any reports and financial statements furnished to or filed with the Commission or any national securities exchange on which any class of securities of the Company is listed; and (ii) such additional information concerning the business and financial condition of the Company as you may from time to time reasonably request (such financial statements to be on a consolidated basis to the extent the accounts of the Company and its subsidiaries are consolidated in reports furnished to its stockholders generally or to the Commission) provided that no reports, documents or other information need to be furnished pursuant to this Section 6(g) to the extent that they are available on EDGAR or to the extent such provisions of such reports, documents or other information would require public disclosure by the Company under Regulation FD;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;To use the net proceeds received by it from the sale of the Shares pursuant to this Agreement in the manner specified in the Pricing Prospectus under the caption "Use of Proceeds";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;To use its best efforts to list, subject to notice of issuance, the Shares on the Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;To file with the Commission such information on Form 10-Q or Form 10-K as may be required by Rule 463 under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;If the Company elects to rely upon Rule 462(b), the Company shall file a Rule 462(b) Registration Statement with the Commission in compliance with Rule 462(b) by 10:00 P.M., Washington, D.C. time, on the date of this Agreement, and the Company shall at the time of filing either pay to the Commission the filing fee for the Rule 462(b) Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111(b) under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Upon request of any Underwriter, to furnish, or cause to be furnished, to such Underwriter an electronic version of the Company's trademarks, service marks and corporate logo for use on the website, if any, operated by such Underwriter for the purpose of facilitating the on-line offering of the Shares (the "License"); provided, however, that the License shall be non-exclusive and used solely for the purpose described above, is granted without any fee and may not be assigned, sublicensed or transferred; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;To promptly notify you if the Company ceases to be an Emerging Growth Company at any time prior to the later of (i) completion of the distribution of the Shares within the meaning of the Act and (ii) the last Time of Delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company represents and agrees that, without the prior consent of the Representatives, it has not made and will not make any offer relating to the Shares that would constitute a "free writing prospectus" as defined in Rule 405 under the Act; each Selling Stockholder represents and agrees that, without the prior consent of the Company and the

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Representatives, it has not made and will not make any offer relating to the Shares that would constitute a free writing prospectus; and each Underwriter represents and agrees that, without the prior consent of the Company and the Representatives, it has not made and will not make any offer relating to the Shares that would constitute a free writing prospectus required to be filed with the Commission; any such free writing prospectus the use of which has been consented to by the Company and the Representatives is listed on Schedule III(a) hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied and will comply with the requirements of Rule 433 under the Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending; and the Company represents that it has satisfied and agrees that it will satisfy the conditions under Rule 433 under the Act to avoid a requirement to file with the Commission any electronic road show;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company agrees that if at any time following the issuance of an Issuer Free Writing Prospectus or Written Testing-the-Waters Communication any event occurred or occurs as a result of which such Issuer Free Writing Prospectus or Written Testing-the-Waters Communication would conflict with the information in the Registration Statement, the Pricing Prospectus or the Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company will give prompt notice thereof to the Representatives and, if requested by the Representatives, will prepare and furnish without charge to each Underwriter an Issuer Free Writing Prospectus, Written Testing-the-Waters Communication or other document which will correct such conflict, statement or omission**;**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Company represents and agrees that (i) it has not engaged in, or authorized any other person to engage in, any Testing-the-Waters Communications, other than Testing-the-Waters Communications with the prior consent of the Representatives with entities that the Company reasonably believes are qualified institutional buyers as defined in Rule 144A under the Act or institutions that are accredited investors as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), (a)(8), (a)(9), (a)(12) or (a)(13) under the Act; and (ii) it has not distributed, or authorized any other person to distribute, any Written Testing-the-Waters Communications, other than those distributed with the prior consent of the Representatives that are listed on Schedule III(c) hereto; and the Company reconfirms that the Underwriters have been authorized to act on its behalf in engaging in Testing-the-Waters Communications; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each Underwriter represents and agrees that (i) any Testing-the-Waters Communications undertaken by it were with entities that such Underwriter reasonably believes are qualified institutional buyers as defined in Rule 144A under the Act or institutions that are accredited investors as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), (a)(8), (a)(9), (a)(12) or (a)(13) under the Act and (ii) it will not distribute, or authorize any other person to distribute, any Written Testing the Waters Communication, other than those distributed with the prior written authorization of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of the Selling Stockholders covenant and agree with one another and with the several Underwriters that (A) the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company's counsel and accountants in connection with the registration of the Shares under the Act and all other expenses in connection with the preparation, printing, reproduction and filing of the Registration Statement, any Preliminary Prospectus, any Written Testing-the-Waters Communication, any Issuer Free

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Writing Prospectus and the Prospectus and amendments and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers; (ii) the cost of printing or producing any Agreement among Underwriters, this Agreement, the Blue Sky Memorandum, closing documents (including any compilations thereof) and any other documents in connection with the offering, purchase, sale, transfer and delivery of the Shares, including any transfer or other taxes payable thereon; (iii) all expenses in connection with the qualification of the Shares for offering and sale under state securities laws as provided in Section 6(b) hereof, including the reasonably incurred and documented fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky survey (iv) all fees and expenses in connection with listing the Shares on the Exchange; (v) the filing fees incident to, and the reasonably incurred and documented fees and disbursements of counsel for the Underwriters in connection with, any required review by FINRA of the terms of the sale of the Shares provided, however, that the reasonably incurred and documented fees and disbursements of counsel for the Underwriters related to clauses (iii) and (v) shall not exceed $50,000 in the aggregate; (vi) the cost of preparing stock certificates, if applicable (vii) the cost and charges of any transfer agent or registrar; (viii) a portion of the fees, disbursements and expenses of Whalen LLP, counsel to the Selling Stockholders (ix) the costs and expenses of the Company relating to investor presentations in connection with any "road show" as defined in Rule 433(h) under the Act (a "road show") undertaken in connection with the marketing of the offering of the Shares, including, without limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations, travel and lodging expenses of the representatives and officers of the Company and any such consultants, and 50% of the cost of any chartered plane, jet, private aircraft or other transportation chartered in connection with any road show undertaken in connection with the offering of the Shares hereunder; and (x) all other costs and expenses incident to the performance of its obligations hereunder which are not otherwise specifically provided for in this Section and (B) such Selling Stockholder will pay or cause to be paid all costs and expenses incident to the performance of such Selling Stockholder's obligations hereunder with respect to (i) any fees and expenses of counsel for such Selling Stockholder other than those agreed to be paid by the Company under clause (viii); and (ii) all taxes and fees of such Selling Stockholder's other advisors and any other out-of-pocket expenses. It is understood, however, that, except as provided in this Section, and Sections 10 and 13 hereof, the Underwriters will pay all of their own costs and expenses, including the fees of their counsel, lodging, travel and meal expenses undertaken in connection with the marketing of the offering of the Shares, stock transfer taxes or other similar transfer taxes on resale of any of the Shares by them, and any advertising expenses connected with any offers they may make. The provisions of this Section shall not supersede or otherwise affect any agreement between the Company and any Selling Stockholder that the Company and the Selling Stockholders may otherwise have for the allocation of such expenses among themselves.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Underwriters hereunder, as to the Shares to be delivered at each Time of Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company and the Selling Stockholders herein are, at and as of the Applicable Time and such Time of Delivery, true and correct, the condition that the Company and Selling Stockholders shall have performed all of its

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and their obligations hereunder theretofore to be performed, and the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Prospectus shall have been filed with the Commission pursuant to Rule 424(b) under the Act within the applicable time period prescribed for such filing by the rules and regulations under the Act and in accordance with Section 6(a) hereof; all material required to be filed by the Company pursuant to Rule 433(d) under the Act shall have been filed with the Commission within the applicable time period prescribed for such filing by Rule 433; if the Company has elected to rely upon Rule 462(b) under the Act, the Rule 462(b) Registration Statement shall have become effective by 10:00 P.M., Washington, D.C. time, on the date of this Agreement; no stop order suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose or pursuant to Section 8A of the Act shall have been initiated or threatened by the Commission; no stop order suspending or preventing the use of the Pricing Prospectus, Prospectus or any Issuer Free Writing Prospectus shall have been initiated or threatened by the Commission; and all requests for additional information on the part of the Commission shall have been complied with to your reasonable satisfaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Davis Polk & Wardwell LLP, counsel for the Underwriters, shall have furnished to you such written opinion and negative assurance letter, dated such Time of Delivery, in form and substance satisfactory to you, and such counsel shall have received such papers and information as they may reasonably request to enable them to pass upon such matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Latham & Watkins LLP, counsel for the Company, shall have furnished to you their written opinion and negative assurance letter, dated such Time of Delivery, in form and substance satisfactory to you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Whalen LLP, counsel for the Selling Stockholders, shall have furnished to you their written opinion, dated the First Time of Delivery, in form and substance satisfactory to you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;On the date of this Agreement and also at each Time of Delivery, KPMG LLP shall have furnished to you a letter or letters, dated the respective dates of delivery thereof, in form and substance satisfactory to you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) On the date of this Agreement and also at each Time of Delivery, the Company shall have furnished to you a certificate or certificates, dated the respective dates of delivery thereof, of its chief financial officer with respect to certain financial data contained in the Pricing Disclosure Package and the Prospectus, providing "management comfort" with respect to such information, in form and substance satisfactory to you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;(i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest audited financial statements included in the Pricing Prospectus any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, other than as set forth or contemplated in the Pricing Prospectus, and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) since the respective dates as of which information is given in the Pricing Prospectus there shall not have been any change in the capital stock (other than as a result of (A) the exercise or settlement (including any "net" or "cashless" exercises or settlements), if any, of stock options, restricted stock units or other equity awards, or the award, if any, of stock options, restricted stock units or other equity awards in the ordinary course of business pursuant to the Company's equity plans that are described in the Pricing Prospectus and the Prospectus, (B) the repurchase of shares of capital stock upon termination of the holder's employment or service with the Company pursuant to agreements providing for an option to repurchase or a right of first refusal on behalf of the Company as described in the Pricing Prospectus and the Prospectus, or (C) the issuance, if any, of stock upon exercise, stock split or conversion of Company securities as described in the Pricing Prospectus and the Prospectus) or long-term debt of the Company or any of its subsidiaries or any change or effect, or any development involving a prospective change or effect, in or affecting (x) the business, properties, general affairs, management, financial position, stockholders' equity or results of operations of the Company and its subsidiaries, taken as a whole, except as set forth or contemplated in the Pricing Prospectus, or (y) the ability of the Company to perform its obligations under this Agreement, including the issuance and sale of the Shares, or to consummate the transactions contemplated in the Pricing Prospectus and the Prospectus, the effect of which, in any such case described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in the manner contemplated in the Pricing Prospectus and the Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;On or after the Applicable Time there shall not have occurred any of the following: (i) a suspension or material limitation in trading in securities generally on the New York Stock Exchange or the Nasdaq Global Market; (ii) a suspension or material limitation in trading in the Company's securities on the Exchange; (iii) a general moratorium on commercial banking activities declared by either Federal, New York or California State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv) the outbreak or escalation of hostilities involving the United States or the declaration by the United States of a national emergency or war or (v) the occurrence of any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in the manner contemplated in the Pricing Prospectus and the Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Shares to be sold at such Time of Delivery shall have been duly listed, subject to notice of issuance, on the Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have obtained and delivered to the Underwriters executed copies of an agreement from each officer and director and certain stockholders of the Company, substantially to the effect set forth in Annex II hereto (the "Lock-Up Agreement") in form and substance satisfactory to you;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Company shall have complied with the provisions of Section 6(c) hereof with respect to the furnishing of prospectuses on the New York Business Day next succeeding the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Selling Stockholders shall have furnished or caused to be furnished to you at such Time of Delivery certificates of officers of the Company and of an Attorney-in-Fact on behalf of the Selling Stockholders, respectively, satisfactory to you as to the accuracy of the representations and warranties of the Company and the Selling Stockholders, respectively, herein at and as of such Time of Delivery, as to the performance by the Company and the Selling Stockholders of all of their respective obligations hereunder to be performed at or prior to such Time of Delivery, as to the matters set forth in subsections (a) and (e) of this Section and as to such other matters as you may reasonably request; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall deliver to each Underwriter (or its agent), on the date of execution of this Agreement, a properly completed and executed Certification Regarding Beneficial Owners of Legal Entity Customers, together with copies of identifying documentation, and the Company undertakes to provide such additional supporting documentation as each Underwriter may reasonably request in connection with the verification of the foregoing Certification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Each Selling Stockholder shall have executed and delivered to the Underwriters a Lock-Up Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company will indemnify and hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus, any "road show", any "issuer information" filed or required to be filed pursuant to Rule 433(d) under the Act or any Testing-the-Waters Communication prepared or authorized by the Company, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; *provided*, *however*, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus or any Testing-the-Waters Communication, in reliance upon and in conformity with the Underwriter Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the Selling Stockholders, severally and not jointly, will indemnify and hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the

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Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus, any roadshow or any Testing-the-Waters Communication, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto or any Issuer Free Writing Prospectus, or any roadshow or any Testing-the-Waters Communication, in reliance upon and in conformity with such Selling Stockholder's Selling Stockholder Information; and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that such Selling Stockholder shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus or any amendment or supplement thereto or any Issuer Free Writing Prospectus in reliance upon and in conformity with the Underwriter Information. Notwithstanding anything to the contrary in this Section 10, the aggregate liability of each Selling Stockholder under this Section 10(b) and Section 10(e) below shall in no event exceed the amount of such Selling Stockholder's net proceeds (after deducting underwriting discounts and commissions but before deducting any other expenses) from its sale of the Shares under this Agreement (the "Selling Stockholder Proceeds").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Underwriter, severally and not jointly, will indemnify and hold harmless the Company and each Selling Stockholder against any losses, claims, damages or liabilities to which the Company or such Selling Stockholder may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, or any road show or any Testing-the-Waters Communication, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, or any road show or any Testing-the-Waters Communication, in reliance upon and in conformity with the Underwriter Information; and will reimburse the Company and each Selling Stockholder for any legal or other expenses reasonably incurred by the Company or such Selling Stockholder in connection with investigating or defending any such action or claim as such expenses are incurred. As used in this Agreement with respect to an Underwriter and an applicable document, "Underwriter Information" shall mean the written information furnished to the Company and Selling Stockholder by such Underwriter through the Representatives expressly for use therein; it being understood and agreed upon that the only such information furnished by any Underwriter consists of the following information in the Prospectus furnished on behalf of each Underwriter: the concession and reallowance figures appearing in the fifth paragraph under the caption

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"Underwriting", and the information contained in the fourteenth, fifteenth and sixteenth paragraphs under the caption "Underwriting".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after receipt by an indemnified party under subsection (a), (b) or (c) of this Section 10 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the commencement thereof; provided that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under the preceding paragraphs of this Section 10 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under the preceding paragraphs of this Section 10. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the indemnification provided for in this Section 10 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a), (b) or (c) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Selling Stockholders on the one hand and the Underwriters on the other from the offering of the Shares. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company and the Selling Stockholders on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company and the Selling Stockholders on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (after deducting any underwriting discounts and commissions but before deducting expenses) received by the Company and the Selling Stockholders bear to the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the

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cover page of the Prospectus. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Selling Stockholders on the one hand or the Underwriters on the other and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company, each of the Selling Stockholders and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subsection (e) were determined by *pro rata* allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (e) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (e), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters' obligations in this subsection (e) to contribute are several in proportion to their respective underwriting obligations and not joint. The liability of each Selling Stockholder under this subsection (e) is several and not joint. Notwithstanding anything to the contrary in this Section 10, the aggregate liability of each Selling Stockholder under this Section 10(e) and Section 10(b) above shall in no event exceed its Selling Stockholder Proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Company and the Selling Stockholders under this Section 10 shall be in addition to any liability which the Company and the Selling Stockholders may otherwise have and shall extend, upon the same terms and conditions, to each employee, officer and director of each Underwriter and each person, if any, who controls any Underwriter within the meaning of the Act and each broker-dealer or other affiliate of any Underwriter; and the obligations of the Underwriters under this Section 10 shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company [(including any person who, with his or her consent, is named in the Registration Statement as about to become a director of the Company)] and to each person, if any, who controls the Company or any Selling Stockholder within the meaning of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Underwriter shall default in its obligation to purchase the Shares which it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other parties to purchase such Shares on the terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company and the Selling Stockholders shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Shares on such terms. In the event that, within the respective prescribed periods, you notify the Company and the Selling Stockholders that you have so arranged for the purchase of such Shares, or the Company or a Selling Stockholder notifies you that it has so arranged for the purchase of such Shares, you or the Company or the Selling Stockholders shall have the right to postpone such Time of Delivery for a period of not more than seven days, in

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order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments or supplements to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term "Underwriter" as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you, the Company and the Selling Stockholders as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased does not exceed one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, then the Company and the Selling Stockholders shall have the right to require each non-defaulting Underwriter to purchase the number of Shares which such Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the number of Shares which such Underwriter agreed to purchase hereunder) of the Shares of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you, the Company and the Selling Stockholders as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased exceeds one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, or if the Company and the Selling Stockholders shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters to purchase Shares of a defaulting Underwriter or Underwriters, then this Agreement (or, with respect to a Second Time of Delivery, the obligations of the Underwriters to purchase and of the Company and the Selling Stockholders to sell the Optional Shares) shall thereupon terminate, without liability on the part of any non-defaulting Underwriter, the Company or the Selling Stockholders, except for the expenses to be borne by the Company, Selling Stockholders the Underwriters as provided in Section 8 hereof and the indemnity and contribution agreements in Section 10 hereof; but nothing herein shall relieve a defaulting Underwriter from liability for its default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;The respective indemnities, rights of contribution, agreements, representations, warranties and other statements of the Company, or any Selling Stockholder and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any director, officer, employee, affiliate or controlling person of any Underwriter, or the Company, or any officer or director or controlling person of the Company, or any of the Selling Stockholders or any controlling person of any Selling Stockholder, and shall survive delivery of and payment for the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;If this Agreement shall be terminated pursuant to Section 11 hereof, neither the Company nor the Selling Stockholders shall then be under any liability to any Underwriter except as provided in Sections 8 and 10 hereof; but, if for any other reason, any Shares are not delivered by or on behalf of the Company and the Selling Stockholders as provided herein or the Underwriters decline to purchase the Shares for any reason permitted under this Agreement, the Company will reimburse the Underwriters through you for all documented out-of-pocket

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expenses approved in writing by you, including fees and disbursements of counsel, reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of the Shares not so delivered, but the Company and the Selling Stockholders shall then be under no further liability to any Underwriter except as provided in Sections 8 and 10 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;In all dealings hereunder, the Representatives shall act on behalf of each of the Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Underwriter made or given by you jointly or by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC on behalf of you as the Representatives; and in dealings with any Selling Stockholder hereunder, the Representatives and the Company shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of such Selling Stockholder made or given by any or all of the Attorneys-in-Fact for such Selling Stockholder.

All statements, requests, notices and agreements hereunder shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you as the representatives in care of Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Registration Department and J.P. Morgan Securities LLC, 270 Park Avenue, New York, New York 10017, Attention: Equity Syndicate Desk; if to any Selling Stockholder shall be delivered or sent by mail, telex or facsimile transmission to each of the Attorneys-in-Fact named in the Power of Attorney, c/o the Company at the address set forth on the cover of the Registration Statement, Attention: General Counsel, with a copy, which shall not constitute notice, to Whalen LLP, 4701 Von Karman Avenue, Suite 325, Newport Beach, California 92660; and if to the Company shall be delivered or sent by mail, telex or facsimile transmission to the address of the Company set forth in the Registration Statement, Attention: Secretary; provided, however, that any notice to an Underwriter pursuant to Section 10(c) hereof shall be delivered or sent by mail, telex or facsimile transmission to such Underwriter at its address set forth in its Underwriters' Questionnaire, or telex constituting such Questionnaire, which address will be supplied to the Company or the Selling Stockholders by you upon request. Any such statements, requests, notices or agreements shall take effect upon receipt thereof.

In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the underwriters are required to obtain, verify and record information that identifies their respective clients, including the Company and the Selling Stockholders, which information may include the name and address of their respective clients, as well as other information that will allow the underwriters to properly identify their respective clients.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be binding upon, and inure solely to the benefit of, the Underwriters, the Company and the Selling Stockholders and, to the extent provided in Sections 10 and 12 hereof, the officers and directors of the Company and each person who controls the Company, any Selling Stockholder or any Underwriter, or any director, officer, employee, or affiliate of any Underwriter, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Shares from any Underwriter shall be deemed a successor or assign by reason merely of such purchase.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;Time shall be of the essence of this Agreement. As used herein, the term "business day" shall mean any day when the Commission's office in Washington, D.C. is open for business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Selling Stockholders acknowledge and agree that (i) the purchase and sale of the Shares pursuant to this Agreement is an arm's-length commercial transaction between the Company and the Selling Stockholders, on the one hand, and the several Underwriters, on the other, (ii) in connection therewith and with the process leading to such transaction each Underwriter is acting solely as a principal and not the agent or fiduciary of the Company or any Selling Stockholder, (iii) no Underwriter has assumed an advisory or fiduciary responsibility in favor of the Company or any Selling Stockholder with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Underwriter has advised or is currently advising the Company or any Selling Stockholder on other matters) or any other obligation to the Company or any Selling Stockholder except the obligations expressly set forth in this Agreement, (iv) the Company and each Selling Stockholder has consulted its own legal and financial advisors to the extent it deemed appropriate, and (v) none of the activities of the Underwriters in connection with the transactions contemplated herein constitutes a recommendation, investment advice, or solicitation of any action by the Underwriters with respect to any entity or natural person. The Company and each Selling Stockholder agrees that it will not claim that the Underwriters, or any of them, has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to the Company or any Selling Stockholder, in connection with such transaction or the process leading thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;This Agreement supersedes all prior agreements and understandings (whether written or oral) among the Company, the Selling Stockholders and the Underwriters, or any of them, with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. The Company and each Selling Stockholder agree to indemnify each Underwriter against any loss incurred by such Underwriter as a result of any judgment or order being given or made for any amount due hereunder and such judgment or order being expressed and paid in a currency (the "judgment currency") other than U.S. dollars and as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the judgment currency for the purpose of such judgment or order, and (ii) the rate of exchange at which such indemnified person is able to purchase U.S. dollars with the amount of the judgment currency actually received by the indemnified person. The foregoing indemnity shall constitute a separate and independent obligation of the Company and each Selling Stockholder and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term "rate of exchange" shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and any transaction contemplated by this Agreement and any claim, controversy or dispute arising under or related thereto shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflict of laws that would results in the application of any other law than the laws of the State of New York. The Company and each Selling Stockholder agree that any suit or proceeding arising in respect of this Agreement or any transaction contemplated by this Agreement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in The City and County of New

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York and the Company and each Selling Stockholder agree to submit to the jurisdiction of, and to venue in, such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.&nbsp;&nbsp;&nbsp;&nbsp;The Company, each Selling Stockholder and each of the Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. Notwithstanding anything herein to the contrary, the Company and the Selling Stockholders are authorized to disclose to any persons the U.S. federal and state income tax treatment and tax structure of the potential transaction and all materials of any kind (including tax opinions and other tax analyses) provided to the Company and the Selling Stockholders relating to that treatment and structure, without the Underwriters imposing any limitation of any kind. However, any information relating to the tax treatment and tax structure shall remain confidential (and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, "tax structure" is limited to any facts that may be relevant to that treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. Recognition of the U.S. Special Resolution Regimes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As used in this section:

"BHC Act Affiliate" has the meaning assigned to the term "affiliate" in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k).

"Covered Entity" means any of the following:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

"Default Right" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"U.S. Special Resolution Regime" means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.

If the foregoing is in accordance with your understanding, please sign and return to us counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Underwriters, this letter and such acceptance hereof shall constitute a binding agreement among each of the Underwriters, the Company and each of the Selling Stockholders. It is understood that your acceptance of this letter on behalf of each of the Underwriters is pursuant to the authority set forth in a form of Agreement among Underwriters, the form of which shall be submitted to the Company and the Selling Stockholders for examination upon request, but without warranty on your part as to the authority of the signers thereof.

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| **Neutron Holdings, Inc.** | **Neutron Holdings, Inc.** |
| By: |  |
|  | Name: |
|  | Title: |
| **The Selling Stockholders, acting severally** | **The Selling Stockholders, acting severally** |
| By: |  |
|  | Name: |
|  | Title: |
| &nbsp;&nbsp;As Attorney-in-Fact acting on behalf of each of the Selling Stockholders named in Schedule II to this Agreement. | &nbsp;&nbsp;As Attorney-in-Fact acting on behalf of each of the Selling Stockholders named in Schedule II to this Agreement. |

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Accepted as of the date hereof:

**Goldman Sachs & Co. LLC**

**J.P. Morgan Securities LLC**

**Goldman Sachs & Co. LLC**

---

| | |
|:---|:---|
| By: |  |
|  | Name: |
|  | Title: |

---

**J.P. Morgan Securities LLC**

---

| | |
|:---|:---|
| By: |  |
|  | Name: |
|  | Title: |

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On behalf of each of the Underwriters

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| | | |
|:---|:---|:---|
| **SCHEDULE I** | **SCHEDULE I** | **SCHEDULE I** |
| | **Total Number of**<br>**Firm Shares**<br>**to be Purchased** | **Number of Optional**<br>**Shares to be**<br>**Purchased if**<br>**Maximum Option Exercised** |
| | **Total Number of**<br>**Firm Shares**<br>**to be Purchased** | **Number of Optional**<br>**Shares to be**<br>**Purchased if**<br>**Maximum Option Exercised** |
| | **Total Number of**<br>**Firm Shares**<br>**to be Purchased** | **Number of Optional**<br>**Shares to be**<br>**Purchased if**<br>**Maximum Option Exercised** |
| | **Total Number of**<br>**Firm Shares**<br>**to be Purchased** | **Number of Optional**<br>**Shares to be**<br>**Purchased if**<br>**Maximum Option Exercised** |
| **<u>Underwriter</u>** | **Total Number of**<br>**Firm Shares**<br>**to be Purchased** | **Number of Optional**<br>**Shares to be**<br>**Purchased if**<br>**Maximum Option Exercised** |
| Goldman Sachs & Co. LLC |  |  |
| J.P. Morgan Securities LLC |  |  |
| Jefferies LLC |  |  |
| Evercore Group L.L.C. |  |  |
| Citizens JMP Securities, LLC |  |  |
| KeyBanc Capital Markets Inc.  |  |  |
| Needham & Company, LLC |  |  |
| William Blair & Company, L.L.C. |  |  |
| &nbsp;&nbsp;&nbsp;Total |  |  |

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| | |
|:---|:---|
| **SCHEDULE II** | **SCHEDULE II** |
| | **Total Number of**<br>**Firm Shares**<br>**to be Sold** |
| The Company |  |
| The Selling Stockholder(s): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**[Name of Selling Stockholder]** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**[Name of Selling Stockholder]** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**[Name of Selling Stockholder]** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**[Name of Selling Stockholder]** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**[Name of Selling Stockholder]** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |

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**SCHEDULE III**

(a) Issuer Free Writing Prospectuses not included in the Pricing Disclosure Package:

Electronic road show dated [●], 2026

(b) Information other than the Pricing Prospectus that comprise the Pricing Disclosure Package:

The initial public offering price per share for the Shares is $[●].

The number of Shares sold by the Company is [●].

The number of Shares sold by the Selling Stockholders is [●].

(c)&nbsp;&nbsp;&nbsp;&nbsp;Written Testing-the-Waters Communications:

[●]

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**ANNEX I**

**[Form of Press Release]**

**Neutron Holdings, Inc.**

**[Date]**

Neutron Holdings, Inc. (the "Company") announced today that Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, the lead book-running managers in the Company's recent public sale of [●] shares of common stock, is [waiving] [releasing] a lock-up restriction with respect to [●] shares of the Company's common stock held by [certain officers or directors] [an officer or director] of the Company. The [waiver] [release] will take effect on [●], 202[6], and the shares may be sold on or after such date.

**This press release is not an offer for sale of the securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.** 

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**ANNEX II**

**FORM OF LOCK-UP AGREEMENT**

**_________, 2026**

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

As Representatives of the several Underwriters

named in Schedule I to the Underwriting Agreement

c/o Goldman Sachs & Co. LLC

200 West Street

New York, NY 10282-2198

c/o J.P. Morgan Securities LLC

270 Park Avenue

New York, NY 10017

Re: <u>Neutron Holdings, Inc. - Lock-Up Agreement</u>

Ladies and Gentlemen:

The undersigned understands that you, as representatives (the "Representatives"), propose to enter into an underwriting agreement (the "Underwriting Agreement") on behalf of the several Underwriters named in Schedule I to such agreement (collectively, the "Underwriters"), with Neutron Holdings, Inc., a Delaware corporation (the "Company"), and the selling stockholders listed on Schedule II of the Underwriting Agreement providing for a public offering (the "Public Offering") of shares (the "Shares") of the common stock, par value $0.0001 per share, of the Company (the "Common Stock") pursuant to a Registration Statement on Form S-1 (the "Registration Statement") to be filed with the Securities and Exchange Commission (the "SEC").

In consideration of the agreement by the Underwriters to offer and sell the Shares, and of other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned agrees that, during the period beginning from the date of this Lock-Up Agreement and continuing to and including the date 160 days after the date of the final prospectus relating to the Public Offering (the "Prospectus") (such period, the "Lock-Up Period"), the undersigned shall not, and shall not cause or direct any of its affiliates to, (i) offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any shares of Common Stock, or any options or warrants to purchase any shares of Common Stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of Common Stock (such shares of Common Stock, options, rights, warrants or other securities, collectively, "Lock-Up Securities"), including without limitation any such Lock-Up Securities now owned or hereafter acquired by the undersigned, (ii) engage in any hedging or other transaction or arrangement (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or

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combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the undersigned or someone other than the undersigned), or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any Lock-Up Securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of Common Stock or other securities, in cash or otherwise (any such sale, loan, pledge or other disposition, or transfer of economic consequences, a "Transfer"), (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities or (iv) otherwise publicly announce any intention to engage in or cause any action, activity, transaction or arrangement described in clause (i), (ii) or (iii) above. The undersigned represents and warrants that the undersigned is not, and has not caused or directed any of its affiliates to be or become, currently a party to any agreement or arrangement that provides for, is designed to or reasonably could be expected to lead to or result in any Transfer during the Lock-Up Period.

Notwithstanding the foregoing, the undersigned may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) transfer the undersigned's Lock-Up Securities (i) as one or more *bona fide* gifts or charitable contributions, or for *bona fide* estate planning purposes, (ii) upon death by will, testamentary document or intestate succession, (iii) if the undersigned is a natural person, to any member of the undersigned's immediate family (for purposes of this Lock-Up Agreement, "immediate family" shall mean any relationship by blood, current or former marriage, domestic partnership or adoption, not more remote than first cousin) or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned or, if the undersigned is a trust, to a trustor, trustee or beneficiary of the trust or the estate of a beneficiary of such trust, (iv) to a partnership, limited liability company, corporation or other entity of which the undersigned and the immediate family of the undersigned are the legal and beneficial owner of all of the outstanding equity securities or similar interests, (v) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a)(i) through (iv) above, (vi) if the undersigned is a corporation, partnership, limited liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or other business entity that is an affiliate (as defined in Rule 405 under the Securities Act of 1933, as amended) of the undersigned, or to any investment fund or other entity which fund or entity is controlled, managed by, or under common control or common investment management with, the undersigned or affiliates of the undersigned, or (B) as part of a distribution by the undersigned to its stockholders, partners, members or other equityholders or to the estate of any such stockholders, partners, members or other equityholders, (vii) by operation of law, such as pursuant to a qualified domestic order, divorce settlement, divorce decree or separation agreement, (viii) to the Company from an employee of the Company upon death, disability or termination of employment, in each case, of such employee, (ix) if the undersigned is not an officer or director of the Company, in connection with a sale of the undersigned's shares of Common Stock acquired (A) from the Underwriters in the Public Offering or (B) in open market transactions after the Public Offering, (x) to the Company in connection with the vesting, settlement or exercise of restricted stock units, shares of restricted stock, options, warrants or other rights to purchase shares of Common Stock (including, in each case, by way of "net" or "cashless" exercise) that are scheduled to

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expire or, in the case of RSUs, that automatically vest during the Lock-Up Period, including any transfer to the Company for the payment of tax withholdings or remittance payments due as a result of the vesting, settlement or exercise of such restricted stock units, shares of restricted stock, options, warrants or other rights, or in connection with the conversion or exchange of convertible or exchangeable securities, in all such cases pursuant to equity awards granted under a stock incentive plan or other equity award plan or arrangement, or pursuant to the terms of convertible or exchangeable securities, each as described in the Registration Statement, the preliminary prospectus relating to the Shares included in the Registration Statement immediately prior to the time the Underwriting Agreement is executed and the Prospectus, provided that any securities received upon such vesting, settlement, exercise or conversion that are not transferred to cover any such tax obligations shall be subject to the terms of this Lock-Up Agreement, (xi) to the Company in connection with the conversion, exchange or reclassification of the outstanding equity securities of the Company into shares of Common Stock, the conversion of any outstanding convertible notes or convertible promissory notes into shares of Common Stock, or any reclassification, exchange or conversion of the Common Stock, in each case as described in the Registration Statement and the Prospectus, provided that any such shares of Common Stock received upon such conversion, exchange or reclassification shall be subject to the terms of this Lock-Up Agreement, (xii) in "sell to cover" or similar open market transactions (including, without limitation, "sell to cover" transactions effected through any written plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act") relating to the transfer, sale or other disposition of the undersigned's Lock-Up Securities) during the Lock-Up Period to satisfy tax withholding obligations as a result of the exercise, vesting and/or settlement of Company equity awards (including options and RSUs) that are scheduled to expire or, in the case of RSUs, that automatically vest during the Lock-Up Period (other than RSUs that vest and settle immediately upon the completion of the Public Offering), held by the undersigned and issued pursuant to a plan or arrangement described in the Registration Statement and the Prospectus, provided that any securities received upon such vesting, settlement or exercise that are not transferred to cover any such tax obligations shall be subject to the terms of this Lock-Up Agreement, (xiii) to the Underwriters pursuant to the Underwriting Agreement, or (xiv) with the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC on behalf of the Underwriters; provided that (A) in the case of clauses (a)(i), (ii), (iii), (iv), (v) and (xi) above, such transfer or distribution shall not involve a disposition for value, (B) in the case of clauses (a)(i), (ii), (iii), (iv), (v), (vi) and (vii) above, it shall be a condition to the transfer or distribution that the donee, devisee, transferee or distributee, as the case may be, shall sign and deliver a lock-up agreement in the form of this Lock-Up Agreement, (C) in the case of clauses (a)(iii), (iv), (v), (vi) and (ix) above, no filing by any party (including, without limitation, any donor, donee, devisee, transferor, transferee, distributor or distributee) under the Exchange Act or other public filing, report or announcement reporting a reduction in beneficial ownership of Lock-Up Securities shall be required or shall be voluntarily made in connection with such transfer or distribution (other than a filing on Schedule 13D, 13F or 13G), and (D) in the case of clauses (a)(i), (ii), (vii), (viii), (x), (xi) and (xii) above, no filing under the Exchange Act or other public filing, report or announcement shall be voluntarily made, and if any such filing, report or announcement shall be legally required during the Lock-Up Period, such filing, report

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or announcement shall clearly indicate in the footnotes thereto (A) the circumstances of such transfer or distribution and (B) in the case of a transfer or distribution pursuant to clauses (a)(i), (ii) or (vii) above, that the donee, devisee, transferee or distributee has agreed to be bound by a lock-up agreement in the form of this Lock-Up Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) enter into a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of the undersigned's Lock-Up Securities, if then permitted by the Company, provided that none of the securities subject to such plan may be transferred, sold or otherwise disposed of until after the expiration of the Lock-Up Period (except to the extent otherwise allowed pursuant to this Lock-Up Agreement) and no public announcement, report or filing under the Exchange Act, or any other public filing, report or announcement, shall be voluntarily made (whether by or on behalf of the undersigned, the Company or any other party) regarding, or that otherwise discloses, the establishment of such plan during the Lock-Up Period, and if any such filing, report or announcement shall be legally required during the Lock-Up Period, such filing, report or announcement shall clearly indicate therein that that none of the securities subject to such plan may be transferred, sold or otherwise disposed of pursuant to such plan until after the expiration of the Lock-Up Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) transfer the undersigned's Lock-Up Securities pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved by the Board of Directors of the Company and made to all holders of the Company's capital stock involving a Change of Control of the Company (for purposes hereof, "Change of Control" shall mean the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons, of shares of capital stock if, after such transfer, such person or group of affiliated persons would hold at least a majority of the outstanding voting securities of the Company (or the surviving entity)); provided that in the event that such tender offer, merger, consolidation or other similar transaction is not completed, the undersigned's Lock-Up Securities shall remain subject to the provisions of this Lock-Up Agreement.

If the undersigned is an officer or director of the Company, the undersigned further agrees that the foregoing provisions shall be equally applicable to any issuer-directed or other Shares the undersigned may purchase in the Public Offering.

If the undersigned is not a natural person, the undersigned represents and warrants that no single natural person, entity or "group" (within the meaning of Section 13(d)(3) of the Exchange Act), other than a natural person, entity or "group" (as described above) that has executed a Lock-Up Agreement in substantially the same form as this Lock-Up Agreement, beneficially owns, directly or indirectly, 50% or more of the common equity interests, or 50% or more of the voting power, in the undersigned.

If the undersigned is an officer or director of the Company, (i) Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC agree that, at least three business days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of shares of Common Stock, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will notify the

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Company of the impending release or waiver, and (ii) the Company has agreed in the Underwriting Agreement to announce the impending release or waiver by press release through a major news service (or such other method approved by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC that satisfies the requirements of FINRA Rule 5131(d)(2)) at least two business days before the effective date of the release or waiver. Any release or waiver granted by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC hereunder to any such officer or director shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will not apply if (i) the release or waiver is effected solely to permit a transfer not for consideration or that is to an immediate family member as defined in FINRA Rule 5130(i)(5) and (ii) the transferee has agreed in writing to be bound by the same terms described in this Lock-Up Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

The undersigned now has, and, except as contemplated by clauses (a) and (c) of the third paragraph of this Lock-Up Agreement, for the duration of this Lock-Up Agreement will have, good and marketable title to the undersigned's Lock-Up Securities, free and clear of all liens, encumbrances and claims whatsoever. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of the undersigned's Lock-Up Securities except in compliance with the foregoing restrictions.

The undersigned acknowledges and agrees that none of the Underwriters has made any recommendation or provided any investment or other advice to the undersigned with respect to this Lock-Up Agreement or the subject matter hereof, and the undersigned has consulted his, her, its or their own legal, accounting, financial, regulatory, tax and other advisors with respect to this Lock-Up Agreement and the subject matter hereof to the extent the undersigned has deemed appropriate. The undersigned further acknowledges and agrees that, although the Underwriters may have provided or hereafter provide to the undersigned in connection with the Public Offering a Form CRS and/or certain other disclosures as contemplated by Regulation Best Interest, the Underwriters have not made and are not making a recommendation to the undersigned to enter into this Lock-Up Agreement or to transfer, sell or dispose of, or to refrain from transferring, selling or disposing of, any shares of Common Stock, and nothing set forth in such disclosures or herein is intended to suggest that any Underwriter is making such a recommendation.

This Lock-Up Agreement shall automatically terminate and the undersigned shall be released from all of his, her, its or their obligations hereunder upon the earlier of (i) the date on which the Registration Statement filed with the SEC with respect to the Public Offering is withdrawn, (ii) the date on which for any reason the Underwriting Agreement is terminated (other than the provisions thereof that survive termination) prior to payment for and delivery of the Shares to be sold thereunder (other than pursuant to the Underwriters' option thereunder to purchase additional Shares), (iii) the date on which the Company notifies the Representatives, in writing and prior to the execution of the Underwriting Agreement, that it does not intend to proceed with the Public Offering, (iv) the date on which the Representatives notify the Company, in writing and prior to the execution of the Underwriting Agreement, that they do not intend to proceed with the Public Offering, and (v) September 30, 2026 in the event that the Underwriting Agreement has not been executed by such date (provided, however, that the Company may, by written notice to the undersigned prior to such date, extend such date by a period of up to an additional 90 days).

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The undersigned understands that the Company and the Underwriters are relying upon this Lock-Up Agreement in proceeding toward consummation of the Public Offering. The undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned's heirs, legal representatives, successors and assigns. The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement. This Lock-Up Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to principles of conflict of laws that would result in the application of any law other than the laws of the State of New York. This Lock-Up Agreement may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com or www.echosign.com) or other transmission method, and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

Very truly yours,

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|  | &nbsp;&nbsp;&nbsp;*(duly authorized signature)* | *(please print complete name of entity)* |

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|  | &nbsp;&nbsp;&nbsp;*(please print full name)* |  | &nbsp;&nbsp;&nbsp;*(duly authorized signature)* |

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## Exhibit 3.1

**Exhibit 3.1**

NINTH AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

NEUTRON HOLDINGS, INC.

(Pursuant to Sections 242 and 245 of the

General Corporation Law of the State of Delaware)

Neutron Holdings, Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the "**General Corporation Law**"),

**DOES HEREBY CERTIFY:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;**That the name of this corporation is Neutron Holdings, Inc., and that this corporation was originally incorporated pursuant to the General Corporation Law on January 3, 2017 under the name Neutron Holdings, Inc.

&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.&nbsp;&nbsp;&nbsp;&nbsp;**That the Board of Directors duly adopted resolutions proposing to amend and restate the Certificate of Incorporation of this corporation, declaring said amendment and restatement to be advisable and in the best interests of this corporation and its stockholders, and authorizing the appropriate officers of this corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment and restatement is as follows:

**RESOLVED**, that the Certificate of Incorporation of this corporation be amended and restated in its entirety to read as follows:

**FIRST:** The name of this corporation is Neutron Holdings, Inc. (the "**Corporation**").

**SECOND:** The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, in the City of Wilmington, County of New Castle, Zip Code 19801. The name of its registered agent at such address is National Registered Agents, Inc..

**THIRD:** The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law.

**FOURTH:&nbsp;&nbsp;&nbsp;&nbsp;**The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 23,883,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**").

The following is a statement of the designations and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of capital stock of the Corporation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;COMMON STOCK

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth herein.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u>. The holders of the Common Stock are entitled to one vote for each share of Common Stock held at all meetings of stockholders (and written actions in lieu of meetings); *provided*, *however*, *that*, except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Amended and Restated Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Amended and Restated Certificate of Incorporation or pursuant to the General Corporation Law. There shall be no cumulative voting. The number of authorized shares of Common Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by (in addition to any vote of the holders of one or more series of Preferred Stock that may be required by the terms of this Amended and Restated Certificate of Incorporation) the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the votes represented by all outstanding shares of capital stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;PREFERRED STOCK

4,000,000,000 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series 3 Preferred Stock**" or the "**Senior Preferred Stock**", 4,000,000,000 shares are designated "**Series 2 Preferred Stock**" and together with the Series 3 Preferred Stock are the "**Series Preferred Stock**", and 747,164,100 shares are designated "**Series 1-A Preferred Stock**", 172,932,100 shares are designated "**Series 1-Al Preferred Stock**", 1,317,300,632 shares are designated "**Series 1-B Preferred Stock**", 2,383,505,340 shares are designated "**Series 1-C Preferred Stock**", and 1,387,645,728 shares are designated "**Series 1-D Preferred Stock**", and collectively with the Series 1-A Preferred Stock, the Series 1-Al Preferred Stock, the Series 1-B Preferred Stock, and the Series 1-C Preferred Stock, the "**Series 1 Stock**", and together with the Series 2 Preferred Stock, the "**Junior Preferred Stock**", each with the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or "subsections" in this Part B of this Article Fourth refer to sections and subsections of Part B of this Article Fourth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends</u>.

The Corporation shall not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Corporation (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in this Amended and Restated Certificate of Incorporation) the holders of the Series Preferred Stock then outstanding shall first receive, or simultaneously receive, a dividend on each outstanding share of each series of Series Preferred Stock in an amount at least equal to

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(i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of such series of Series Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of such series of Series Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the applicable original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the applicable Original Issue Price (as defined below); *provided that*, if the Corporation declares, pays or sets aside, on the same date, a dividend on shares of more than one class or series of capital stock of the Corporation, the dividend payable to the holders of each series of Series Preferred Stock pursuant to this <u>Section 1</u> shall be calculated based upon the dividend on the class or series of capital stock that would result in the highest Series Preferred Stock dividend. The "**Original Issue Price**" shall mean $0.0057230 per share of Series 1-A Preferred Stock, $0.0010512 per share of Series 1-Al Preferred Stock, $0.0238460 per share of Series 1-B Preferred Stock, $0.0651526 per share of Series 1-C Preferred Stock, and $0.0864116 per share of Series 1-D Preferred Stock, and the Original Issue Price per share of Series 3 Preferred Stock and Series 2 Preferred Stock shall be the "Conversion Price" (as defined in that certain Note Purchase Agreement by and between the Corporation and the lenders named therein, dated as of the date of the filing of this Certificate), each subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Preferred Stock.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Liquidation, Dissolution or Winding Up; Certain Mergers, Consolidations</u> <u>and Asset Sales</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;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferential Payments to Holders of Preferred Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1&nbsp;&nbsp;&nbsp;&nbsp;In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Senior Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of Senior Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, before any payment shall be made to the holders of Junior Preferred Stock or Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Senior Preferred Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the "**Senior** 

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**Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Senior Preferred Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.1</u>, the holders of shares of Senior Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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&nbsp;&nbsp;&nbsp;&nbsp;In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Series 2 Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of Series 2 Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, after the payment set forth in Section 2.1.1 above, before any payment shall be made to the holders of Series 1 Stock or Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Series 2 Preferred Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this sentence is hereinafter referred to as the "**Series 2 Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series 2 Preferred Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.2</u>, the holders of shares of Senior Preferred Stock shall first receive payment under Section 2.1.1, then if any amount is left, the Series 2 Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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&nbsp;&nbsp;&nbsp;&nbsp;In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of each series of Series 1 Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of each series of Series 1 Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the Available Proceeds (as defined below), as applicable, after the payments set forth in Sections 2.1.1 and 2.1.2 above, before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the applicable Original Issue Price, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of such series of Series 1 Stock been converted into Common Stock pursuant to <u>Section 4</u> immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the amount payable pursuant to this

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sentence is hereinafter referred to as the "**Series 1 Liquidation Amount**" and together with the Senior Liquidation Amount and the Series 2 Liquidation Amount, the "**Liquidation Amount**"). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of the series of Series 1 Stock the full amount to which they shall be entitled under this <u>Subsection 2.1.3</u>, the holders of shares of Series Preferred Stock shall first receive payment under Sections 2.1.1 and 2.1.2, then if any amount is left, the Series 1 Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments to Holders of Common Stock</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, after the payment in full of all Liquidation Amounts required to be paid to the holders of shares of Preferred Stock, the remaining assets of the Corporation available for distribution to its stockholders or, in the case of a Deemed Liquidation Event, the consideration not payable to the holders of shares of Preferred Stock pursuant to Section 2.1 or the remaining Available Proceeds, as the case may be, shall be distributed among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Deemed Liquidation Events</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Definition</u>. Each of the following events shall be considered a "**Deemed Liquidation Event**" unless, at any time when at least 1,000,000 shares of Series 3 Preferred Stock are outstanding, the holders of at least a majority of the outstanding shares of Series Preferred Stock, including a majority of the then outstanding shares of Series 3 Preferred Stock, voting together as a single class and on an as-converted basis, elect otherwise by written notice sent to the Corporation at least five (5) days prior to the effective date of any such event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;a merger or consolidation in which

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)the Corporation is a constituent party 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation,

except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following

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such merger or consolidation, the parent corporation of such surviving or resulting corporation; 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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;(1) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or (2) the sale or disposition (whether by merger, consolidation or otherwise, and whether in a single transaction or a series of related transactions) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Effecting a Deemed Liquidation Event</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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;The Corporation shall not have the power to effect a Deemed Liquidation Event referred to in <u>Subsection 2.3.1(a)(i)</u> unless the agreement or plan of merger or consolidation for such transaction (the "**Merger Agreement**") provides that the consideration payable to the stockholders of the Corporation in such Deemed Liquidation Event shall be paid to the holders of capital stock of the Corporation in accordance with <u>Subsections</u> <u>2.1</u> and <u>2.2</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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Deemed Liquidation Event referred to in <u>Subsection 2.3.1(a)(ii)</u> or <u>2.3.1(b)</u>, if the Corporation does not effect a dissolution of the Corporation under the General Corporation Law within ninety (90) days after such Deemed Liquidation Event, then (i) the Corporation shall send a written notice to each holder of Preferred Stock no later than the ninetieth (90\*) day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms of the following clause; (ii) to require the redemption of such shares of Preferred Stock, and (iii) if the Series Preferred Stock, voting together as a single class and on an as-converted basis, and if no shares of Series Preferred Stock are outstanding, a majority of the outstanding shares of Preferred Stock, voting separately as a single series (the "**Requisite Holders**") so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the Corporation for such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors of the Corporation), together with any other assets of the Corporation available for distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the "**Available Proceeds**"), on the one hundred fiftieth (150<sup>th</sup>) day after such Deemed Liquidation Event, to redeem all outstanding shares of Preferred Stock at a price per share equal to the applicable Liquidation Amount. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available Proceeds are not sufficient to redeem all outstanding shares of Preferred Stock, the Corporation shall redeem the Preferred Stock in the order set forth in Section 2.1, based on the respective amounts which each series of Preferred Stock would otherwise be payable in respect of the shares to be redeemed if the

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Available Proceeds were sufficient to redeem all such shares, and shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions to stockholders. Any stock will be redeemed in accordance with procedures agreed by the Corporation and the Requisite Holders. Prior to the distribution or redemption provided for in this <u>Subsection 2.3.2(b)</u>, the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses incurred in connection with such Deemed Liquidation Event or in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount Deemed Paid or Distributed</u>. The amount deemed paid or distributed to the holders of capital stock of the Corporation upon any such merger, consolidation, sale, transfer, exclusive license, other disposition or redemption shall be the cash or the value of the property, rights or securities to be paid or distributed to such holders pursuant to such Deemed Liquidation Event. The value of such property, rights or securities shall be determined in good faith by the Board of Directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Allocation of Escrow and Contingent Consideration</u>. In the event of a Deemed Liquidation Event pursuant to <u>Subsection 2.3.1(a)(i)</u>, if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies (the "**Additional Consideration**"), the Merger Agreement shall provide that (a) the portion of such consideration that is not Additional Consideration (such portion, the "**Initial Consideration**") shall be allocated among the holders of capital stock of the Corporation in accordance with <u>Subsections 2.1</u> and <u>2.2</u> as if the Initial Consideration were the only consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes payable to the stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with <u>Subsections 2.1</u> and <u>2.2</u> after taking into account the previous payment of the Initial Consideration as part of the same transaction. For the purposes of this <u>Subsection 2.3.4</u>, consideration placed into escrow or retained as a holdback to be available for satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be deemed to be Additional Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</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;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. On any matter presented to the stockholders of the Corporation for their action or consideration at any meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Common Stock into which the shares of Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter. Except as provided by law or by the other provisions of this Amended and Restated Certificate of Incorporation, holders of Preferred Stock shall vote together with the holders of Common Stock as a single class and on an as-converted to Common Stock basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Election of Directors</u>. The holders of record of the shares of Senior Preferred Stock, voting as a single class on an as-converted basis, shall be entitled to elect one (1) director of the Corporation (the "**Senior Preferred Director**"), the holders of record of the

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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;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferred Stock Protective Provisions</u>. At any time when at least 520,000,000 shares of Series Preferred Stock, including at least 1,000,000 shares of Senior Preferred Stock (subject, in each case, to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series Preferred Stock or Senior Preferred Stock, as applicable) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of 66% of the holders of outstanding shares of Series Preferred Stock, voting together as a single class and on an as- converted basis (the "**Series Protective Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1&nbsp;&nbsp;&nbsp;&nbsp;liquidate, dissolve or wind-up the business and affairs of the Corporation, effect any merger or consolidation or any other Deemed Liquidation Event, or consent to any of the foregoing;

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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;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal any provision of this Amended and Restated Certificate of Incorporation or Bylaws of the Corporation, *provided however*, *that* no consent is required to increase the authorized number of shares of Preferred Stock or make any other alterations or amendments to this Amended and Restated Certificate of Incorporation necessary in connection with the creation of a new series of preferred stock that has rights junior to or pari passu with the Senior Preferred Stock. For the avoidance of doubt, no alterations or amendments to the definitions of Senior Preferred Stock, Series Preferred Stock, this Section 3.3, and Section 3.4 shall be considered necessary in connection the creation of a new series of preferred stock that has rights junior or pari passu with the Senior Preferred Stock, and any such amendments or alternations shall require the consent of the Requisite Holders as provided herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3&nbsp;&nbsp;&nbsp;&nbsp;(i) create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock unless the same ranks junior or pari passu to the Senior Preferred Stock with respect to the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends and rights of redemption, (ii) increase the authorized number of shares of any series of existing Preferred Stock outstanding or (iii) increase the authorized number of shares of any additional class or series of capital stock of the Corporation (*provided that* no consent is needed to increase the authorized number of shares of Common Stock to reserve shares of Common Stock for the conversion of any new series of preferred stock that is junior to or pari passu with the Senior Preferred Stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.4&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference or privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.5&nbsp;&nbsp;&nbsp;&nbsp;cause or permit any of its subsidiaries to sell, issue, sponsor, create or distribute any digital tokens, cryptocurrency or other blockchain-based assets (collectively, "**Tokens**"), including through a pre-sale, initial coin offering, token distribution event or crowdfunding, or through the issuance of any instrument convertible or exchangeable for Tokens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.6&nbsp;&nbsp;&nbsp;&nbsp;purchase or redeem (or permit any subsidiary to purchase or redeem) or pay or declare any dividend or make any distribution on, any shares of capital stock of the Corporation other than (i) redemptions of or dividends or distributions on the Preferred Stock as expressly authorized herein, (ii) dividends or other distributions payable on the Common Stock solely in the form of additional shares of Common Stock and (iii) repurchases of stock from former employees, officers, directors, consultants or other persons

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who performed services for the Corporation or any subsidiary in connection with the cessation of such employment or service at the lower of the original purchase price or the then-current fair market value thereof or (iv) as approved by the Board of Directors, including at least one of the Preferred Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.7&nbsp;&nbsp;&nbsp;&nbsp;create, or authorize the creation of, or issue, or authorize the issuance of any debt security or create any lien or security interest (except for purchase money liens or statutory liens of landlords, mechanics, materialmen, workmen, warehousemen and other similar persons arising or incurred in the ordinary course of business including, but not limited to, liens related to asset-backed lending related to the purchase of micromobility devices) or incur other indebtedness for borrowed money, including but not limited to obligations and contingent obligations under guarantees, or permit any subsidiary to take any such action with respect to any debt security lien, security interest or other indebtedness for borrowed money, if such additional indebtedness would exceed $15,000,000 (other than equipment leases, bank lines of credit or trade payables incurred in the ordinary course and other than up to $30,000,000 in indebtedness that replaces prior outstanding debt that was outstanding as of prior to the filing of this Certificate);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.8&nbsp;&nbsp;&nbsp;&nbsp;create, or hold capital stock in, any subsidiary that is not wholly owned (either directly or through one or more other subsidiaries) by the Corporation, or permit any subsidiary to create, or authorize the creation of, or issue or obligate itself to issue, any shares of any class or series of capital stock, or sell, transfer or otherwise dispose of any capital stock of any direct or indirect subsidiary of the Corporation, or permit any direct or indirect subsidiary to sell, lease, transfer, exclusively license or otherwise dispose (in a single transaction or series of related transactions) of all or substantially all of the assets of such subsidiary; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.9&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of directors constituting the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Senior Preferred Stock Protective Provisions</u>. At any time when shares of Senior Preferred Stock are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the holders of a majority of the Senior Preferred Stock (the "**Senior Preferred Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1&nbsp;&nbsp;&nbsp;&nbsp;(i) create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock unless the same ranks junior or pari passu to the Senior Preferred Stock with respect to the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends and rights of redemption, (ii) increase the authorized number of shares of any series of Preferred Stock outstanding (*provided that* no consent is needed for the creation or increase of any series of preferred stock that is junior or pari passu with the Senior Preferred Stock) or (iii) increase the authorized number of shares of any additional class or series of capital stock of the Corporation

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(*provided that* no consent is needed to increase the authorized number of shares of Common Stock to reserve shares of Common Stock for the conversion of any new series of preferred stock that is junior to or pari passu with the Senior Preferred Stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Senior Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to the Senior Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security pari passu or senior to the Senior Preferred Stock in respect of any such right, preference or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal any provision of this Amended and Restated Certificate of Incorporation or Bylaws of the Corporation in a manner that disproportionately and adversely affects the powers, preferences or rights of the Senior Preferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.4&nbsp;&nbsp;&nbsp;&nbsp;amend, alter or repeal this Section 3.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Series 1 Preferred Stock Protective Provisions</u>. At any time when at least 1,000,000,000 shares of Series 1 Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series 1 Preferred Stock) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the Series 1 Majority (as defined in that certain Voting Agreement, entered into on or about May 6, 2020) (the "**Series 1 Majority**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.1&nbsp;&nbsp;&nbsp;&nbsp;(i) reclassify, alter or amend any existing security of the Corporation that is pari passu with any series of the Series 1 Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to such series of the Series 1 Preferred Stock in respect of any such right, preference, or privilege or (ii) reclassify, alter or amend any existing security of the Corporation that is junior to any series of the Series 1 Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, if such reclassification, alteration or amendment would render such other security senior to the Series 1 Preferred Stock in respect of any such right, preference or privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.2&nbsp;&nbsp;&nbsp;&nbsp;waive, modify, or otherwise alter the Series 1 Liquidation Amount, or waive the treatment of an event as a Deemed Liquidation Event, or

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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;&nbsp;&nbsp;&nbsp;&nbsp;3.5.3&nbsp;&nbsp;&nbsp;&nbsp;amend, alter, repeal or waive any provision of the Amended and Restated Certificate of Incorporation or the Restated Bylaws of the Corporation in a manner that alters or changes the voting or other powers, preferences or other special rights, privileges or restrictions of the Series 1 Preferred Stock so as to affect the Series 1 Preferred stock adversely in a manner different than other series of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion</u>.

The holders of the Preferred Stock shall have conversion rights as follows (the "**Conversion Rights**"**):**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion Ratio</u>. Each share of Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Common Stock as is determined by dividing the applicable Original Issue Price by the applicable Conversion Price (as defined below) in effect at the time of conversion. The "**Conversion Price**" shall initially be equal to the Original Issue Price in effect for each series of Preferred Stock. Such initial applicable Conversion Price, and the rate at which shares of each series of Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Conversion Rights</u>. In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Fractional Shares</u>. No fractional shares of Common Stock shall be issued upon conversion of the Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction (rounded down to the nearest hundredth of a share) multiplied by the fair market value of a share of Common Stock as determined in good faith by the Board of Directors of the Corporation. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Preferred Stock the holder is at the time converting into Common Stock and the aggregate number of shares of Common Stock issuable upon such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of Conversion</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Conversion</u>. In order for a holder of Preferred Stock to voluntarily convert shares of Preferred Stock into shares of Common Stock, such holder shall (a) provide written notice to the Corporation's transfer agent at the office of the transfer agent for the Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent) that such holder elects to convert all or any number of such holder's shares of Preferred Stock and, if applicable, any event on which such conversion is

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contingent and (b), if such holder's shares are certificated, surrender the certificate or certificates for such shares of Preferred Stock (or, if such registered holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate), at the office of the transfer agent for the Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent). Such notice shall state such holder's name or the names of the nominees in which such holder wishes the shares of Common Stock to be issued. If required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or his, her or its attorney duly authorized in writing. The close of business on the date of receipt by the transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such notice and, if applicable, certificates (or lost certificate affidavit and agreement) shall be the time of conversion (the "**Conversion Time**"), and the shares of Common Stock issuable upon conversion of the specified shares shall be deemed to be outstanding of record as of such date. The Corporation shall, as soon as practicable after the Conversion Time (i) issue and deliver to such holder of Preferred Stock, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable upon such conversion in accordance with the provisions hereof and a certificate for the number (if any) of the shares of Preferred Stock represented by the surrendered certificate that were not converted into Common Stock, (ii) pay in cash such amount as provided in <u>Subsection 4.2</u> in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and (iii) pay all declared but unpaid dividends on the shares of Preferred Stock converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation of Shares</u>. The Corporation shall at all times when the Preferred Stock shall be outstanding, reserve and keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Preferred Stock, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preferred Stock; and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the Preferred Stock, the Corporation shall take such corporate action as may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment to this Amended and Restated Certificate of Incorporation. Before taking any action which would cause an adjustment reducing the applicable Conversion Price below the then par value of the shares of Common Stock issuable upon conversion of the Preferred Stock, the Corporation will take any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may validly and legally issue fully paid and non-assessable shares of Common Stock at such adjusted Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Conversion</u>. All shares of Preferred Stock which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at

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the Conversion Time, except only the right of the holders thereof to receive shares of Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided in <u>Subsection 4.2</u> and to receive payment of any dividends declared but unpaid thereon. Any shares of Preferred Stock so converted shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Further Adjustment</u>. Upon any such conversion, no adjustment to the applicable Conversion Price shall be made for any declared but unpaid dividends on any series of Preferred Stock surrendered for conversion or on the Common Stock delivered upon conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any issuance or delivery of shares of Common Stock upon conversion of shares of Preferred Stock pursuant to this <u>Section 4</u>. The Corporation shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of shares of Common Stock in a name other than that in which the shares of Preferred Stock so converted were registered, and no such issuance or delivery shall be made unless and until the person or entity requesting such issuance has paid to the Corporation the amount of any such tax or has established, to the satisfaction of the Corporation, that such tax has been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments to Conversion Price for Diluting Issues</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Definitions</u>. For purposes of this Article Fourth, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"**Option**" shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"**Original Issue Date**" shall mean the date on which the first share of any series of Series 1 Stock was issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"**Convertible Securities**" shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"**Additional Shares of Common Stock**" shall mean all shares of Common Stock issued (or, pursuant to <u>Subsection 4.4.3</u> below, deemed to be issued) by the Corporation after the Original Issue Date, other than (1) the following shares of

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Common Stock and (2) shares of Common Stock deemed issued pursuant to the following Options and Convertible Securities (clauses (1) and (2), collectively, "**Exempted Securities**"**):**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock, Options or Convertible Securities issued as a dividend or distribution on Preferred Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock, Options or Convertible Securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock that is covered by <u>Subsection 4.5</u>, <u>4.6</u>, <u>4.7</u> or <u>4.8</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)shares of Common Stock or Options issued to employees or directors of, or consultants or advisors to, the Corporation or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)shares of Common Stock or Convertible Securities actually issued upon the exercise of Options or shares of Common Stock actually issued upon the conversion or exchange of Convertible Securities, in each case provided such issuance is pursuant to the terms of such Option or Convertible Security;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)shares of Common Stock, Options or Convertible Securities issued to banks, equipment lessors or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)shares of Common Stock, Options or Convertible Securities issued to suppliers or third party service providers in connection with the provision of goods or services pursuant to transactions approved by the

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Board of Directors of the Corporation, including the approval of at least one of the Preferred Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)shares of Common Stock, Options or Convertible Securities issued as acquisition consideration pursuant to the acquisition of another corporation by the Corporation by merger, purchase of substantially all of the assets or other reorganization or to a joint venture agreement, *provided that* such issuances are approved by the Board of Directors of the Corporation, including the approval of at least one of the Preferred Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)shares of Common Stock, Options or Convertible Securities issued in connection with sponsored research, collaboration, technology license, development, OEM, marketing or other similar agreements or strategic partnerships approved by the Board of Directors of the Corporation, including the approval of all of the Preferred Directors; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)shares of Common Stock or Convertible Securities issued upon conversion of the Convertible Promissory Notes issued pursuant to that certain Note Purchase Agreement dated on or about the date of the filing of this Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>No Adjustment of Conversion Price</u>. No adjustment in any Conversion Price shall be made as the result of the issuance or deemed issuance of Additional Shares of Common Stock if the Corporation receives written notice from the Requisite Holders agreeing that no such adjustment shall be made as the result of the issuance or deemed issuance of such Additional Shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Deemed Issue of Additional Shares of Common Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;If the Corporation at any time or from time to time after the Original Issue Date shall issue any Options or Convertible Securities (excluding Options or Convertible Securities which are themselves Exempted Securities) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such Options or Convertible Securities, then the maximum number of shares of Common Stock (as set forth in

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the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record 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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;If the terms of any Option or Convertible Security, the issuance of which resulted in an adjustment to the Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u>, are revised as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any such Option or Convertible Security or (2) any increase or decrease in the consideration payable to the Corporation upon such exercise, conversion and/or exchange, then, effective upon such increase or decrease becoming effective, the applicable Conversion Price computed upon the original issue of such Option or Convertible Security (or upon the occurrence of a record date with respect thereto) shall be readjusted to such Conversion Price as would have obtained had such revised terms been in effect upon the original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this clause (b) shall have the effect of increasing any Conversion Price to an amount which exceeds the lower of (i) the applicable Conversion Price in effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Conversion Price that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such Option or Convertible Security) between the original adjustment date and such readjustment 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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;If the terms of any Option or Convertible Security (excluding Options or Convertible Securities which are themselves Exempted Securities), the issuance of which did not result in an adjustment to the Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u> (either because the consideration per share (determined pursuant to <u>Subsection</u> <u>4.4.5)</u> of the Additional Shares of Common Stock subject thereto was equal to or greater than the Conversion Price then in effect, or because such Option or Convertible Security was issued before the Original Issue Date), are revised after the Original Issue Date as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to antidilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase in the number of shares of Common Stock issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration payable to the Corporation upon such exercise, conversion or exchange, then such Option or Convertible Security, as so amended or adjusted, and the Additional Shares of

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Common Stock subject thereto (determined in the manner provided in <u>Subsection 4.4.3(a))</u> shall be deemed to have been issued effective upon such increase or decrease becoming effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Upon the expiration or termination of any unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof) which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u>, the Conversion Price shall be readjusted to such Conversion Price as would have obtained had such Option or Convertible Security (or portion thereof) never been issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is calculable at the time such Option or Convertible Security is issued or amended but is subject to adjustment based upon subsequent events, any adjustment to the applicable Conversion Price provided for in this <u>Subsection 4.4.3</u> shall be effected at the time of such issuance or amendment based on such number of shares or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent adjustments shall be treated as provided in clauses (b) and (c) of this <u>Subsection 4.4.3</u>). If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended, any adjustment to the applicable Conversion Price that would result under the terms of this <u>Subsection 4.4.3</u> at the time of such issuance or amendment shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject to subsequent adjustments), assuming for purposes of calculating such adjustment to the Conversion Price that such issuance or amendment took place at the time such calculation can first be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment of Conversion Price Upon Issuance of</u> <u>Additional Shares of Common Stock</u>. In the event the Corporation shall at any time after the Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to <u>Subsection 4.4.3)</u>, without consideration or for a consideration per share less than the Conversion Price in effect immediately prior to such issuance or deemed issuance for any series of the Preferred Stock (excluding, for avoidance of doubt, the Series 1 Stock), then the Conversion Price applicable to the affected series of Preferred Stock shall be reduced, concurrently with such issue, to a price (calculated to the nearest one-hundredth of a cent, rounding down) determined in accordance with the following formula:

CP2 = CP1\* (A + B)-(A + C).

For purposes of the foregoing formula, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"CP2" shall mean the applicable Conversion Price in effect immediately after such issuance or deemed issuance of Additional Shares of Common Stock;

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;"CP1" shall mean the applicable Conversion Price in effect immediately prior to such issuance or deemed issuance of Additional Shares of Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"A" shall mean the number of shares of Common Stock outstanding immediately prior to such issuance or deemed issuance of Additional Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issuance or deemed issuance or upon conversion or exchange of Convertible Securities (including the Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;"B" shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of Common Stock had been issued or deemed issued at a price per share equal to CP1 (determined by dividing the aggregate consideration received by the Corporation in respect of such issue by CP1); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"C" shall mean the number of such Additional Shares of Common Stock issued in such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination of Consideration</u>. For purposes of this <u>Subsection 4.4</u>, the consideration received by the Corporation for the issuance or deemed issuance of any Additional Shares of Common Stock shall be computed 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cash and Property</u>: Such consideration shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation, excluding amounts paid or payable for accrued interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)insofar as it consists of property other than cash, be computed at the fair market value thereof at the time of such issue, as determined in good faith by the Board of Directors of the Corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)in the event Additional Shares of Common Stock are issued together with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (i) and (ii) above, as determined in good faith by the Board of Directors of the Corporation.

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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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Options and Convertible Securities</u>. The consideration per share received by the Corporation for Additional Shares of Common Stock deemed to have been issued pursuant to <u>Subsection 4.4.3</u>, relating to Options and Convertible Securities, shall be determined by dividing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)The total amount, if any, received or receivable by the Corporation as consideration for the issue of such Options or Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration) payable to the Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities, by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 maximum number of shares of Common Stock (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Multiple Closing Dates</u>. In the event the Corporation shall issue on more than one date Additional Shares of Common Stock that are a part of one transaction or a series of related transactions and that would result in an adjustment to any Conversion Price pursuant to the terms of <u>Subsection 4.4.4</u>, and such issuance dates occur within a period of no more than ninety (90) days from the first such issuance to the final such issuance, then, upon the final such issuance, the applicable Conversion Price shall be readjusted to give effect to all such issuances as if they occurred on the date of the first such issuance (and without giving effect to any additional adjustments as a result of any such subsequent issuances within such period).

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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;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Stock Splits and Combinations</u>. If the Corporation shall at any time or from time to time after the Original Issue Date effect a subdivision of the outstanding Common Stock, the applicable Conversion Price in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock, the applicable Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Common Stock outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Certain Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Conversion Price in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Conversion Price then in effect by a fraction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.

Notwithstanding the foregoing (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the applicable Conversion Price shall be adjusted pursuant to this subsection as of the time of actual payment of such dividends or distributions; and (b) that no such adjustment shall be made if the holders of Series Preferred Stock simultaneously receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding shares of such series of Series Preferred Stock had been converted into Common Stock on the date of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments for Other Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation (other than a distribution

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of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of <u>Section 1</u> do not apply to such dividend or distribution, then and in each such event the holders of Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities or other property in an amount equal to the amount of such securities or other property as they would have received if all outstanding shares of such series of Preferred Stock had been converted into Common Stock on the date of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Merger or Reorganization, etc</u>. Subject to the provisions of <u>Subsection 2.3</u>, if there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by <u>Subsections 4.4</u>, <u>4.6</u> or <u>4.7)</u>, then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Preferred Stock shall thereafter be convertible in lieu of the Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of the Corporation issuable upon conversion of one share of Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors of the Corporation) shall be made in the application of the provisions in this <u>Section</u> 4 with respect to the rights and interests thereafter of the holders of the Preferred Stock, to the end that the provisions set forth in this <u>Section 4</u> (including provisions with respect to changes in and other adjustments of the applicable Conversion Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of such series of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificate as to Adjustments</u>. Upon the occurrence of each adjustment or readjustment of any Conversion Price pursuant to this <u>Section 4</u>, the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than ten (10) days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of such affected series of Preferred Stock a certificate setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other property into which such series of Preferred Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder of Preferred Stock (but in any event not later than ten (10) days thereafter), furnish or cause to be furnished to such holder a certificate setting forth (i) the applicable Conversion Price then in effect, and (ii) the number of shares of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Record Date</u>. In the event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;the Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the

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Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security; 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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;of any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation Event; 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;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then, and in each such case, the Corporation will send or cause to be sent to the holders of the Preferred Stock a notice specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon the conversion of the Preferred Stock) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable to the Preferred Stock and the Common Stock. Such notice shall be sent at least ten (10) days prior to the record date or effective date for the event specified in such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Conversion</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;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Trigger Events</u>. Upon either (a) the closing of the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, resulting in at least $50,000,000 of gross proceeds to the Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market's National Market, the New York Stock Exchange or another exchange or marketplace approved the Board of Directors or (b) the date and time, or the occurrence of an event, specified by vote or written consent of both the Requisite Holders and the Series 1 Majority (the time of such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the "**Mandatory Conversion Time**"), then (i) all outstanding shares of Preferred Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate as calculated pursuant to <u>Subsection 4.1.1</u>, and (ii) such shares may not be reissued by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedural Requirements</u>. All holders of record of shares of Preferred Stock shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Preferred Stock pursuant to this <u>Section 5</u>. Such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Preferred Stock in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if

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such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice. If so required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Preferred Stock converted pursuant to <u>Subsection 5.1</u>, including the rights, if any, to receive notices and vote (other than as a holder of Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such holders (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this <u>Subsection 5.2</u>. As soon as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any certificate or certificates (or lost certificate affidavit and agreement) for Preferred Stock, the Corporation shall (a) issue and deliver to such holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable on such conversion in accordance with the provisions hereof and (b) pay cash as provided in <u>Subsection 4.2</u> in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Preferred Stock converted. Such converted Preferred Stock shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock accordingly.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Redeemed or Otherwise Acquired Shares</u>. Any shares of Preferred Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its subsidiaries may exercise any voting or other rights granted to the holders of Preferred Stock following redemption.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. Subject to the protective rights of the Series 1 Majority set forth in Subsection 3.5 and 5.1, the protective rights subject to the Senior Preferred Threshold set forth in Subsection 3.4, the protective rights subject to the Series Protective Threshold set forth in Subsection 3.3, any of the rights, powers, preferences and other terms of the Preferred Stock set forth herein may be waived on behalf of all holders of Preferred Stock by the affirmative written consent or vote of the Requisite Holders.

&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted by the provisions of this Article Fourth to be given to a holder of shares of Preferred Stock shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation, or given by electronic communication in compliance with the provisions of the General Corporation Law, and shall be deemed sent upon such mailing or electronic transmission.

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**FIFTH:** Subject to any additional vote required by this Amended and Restated Certificate of Incorporation or Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

**SIXTH:** Subject to any additional vote required by this Amended and Restated Certificate of Incorporation, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation. Each director shall be entitled to one vote on each matter presented to the Board of Directors.

**SEVENTH:** Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

**EIGHTH:** Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of the Corporation may provide. The books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws of the Corporation.

**NINTH:** To the fullest extent permitted by law, a director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. If the General Corporation Law or any other law of the State of Delaware is amended after approval by the stockholders of this Article Ninth to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended.

Any repeal or modification of the foregoing provisions of this Article Ninth by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director of the Corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

**TENTH:** To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which General Corporation Law permits the Corporation to provide indemnification) through Bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by <u>Section 145</u> of the General Corporation Law.

Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not (a) adversely affect any right or protection of any director, officer or other agent of the Corporation existing at the time of such amendment, repeal or modification or (b)

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increase the liability of any director of the Corporation with respect to any acts or omissions of such director, officer or agent occurring prior to, such amendment, repeal or modification.

**ELEVENTH:** The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An "**Excluded Opportunity**" is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Preferred Stock or any partner, member, director, stockholder, employee, affiliate or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, the persons referred to in clauses (i) and (ii) are "**Covered Persons**"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation while such Covered Person is performing services in such capacity. Any repeal or modification of this Article Eleventh will only be prospective and will not affect the rights under this Article Eleventh in effect at the time of the occurrence of any actions or omissions to act giving rise to liability. Notwithstanding anything to the contrary contained elsewhere in this Amended and Restated Certificate of Incorporation, the affirmative vote of the holders of the Requisite Holders, will be required to amend or repeal, or to adopt any provisions inconsistent with this Article Eleventh.

**TWELFTH:** Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery in the State of Delaware shall be the sole and exclusive forum for any stockholder (including a beneficial owner) to bring (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation's stockholders, (iii) any action asserting a claim against the Corporation, its directors, officers or employees arising pursuant to any provision of the Delaware General Corporation Law or the Corporation's certificate of incorporation or bylaws or (iv) any action asserting a claim against the Corporation, its directors, officers or employees governed by the internal affairs doctrine, except for, as to each of (i) through (iv) above, any claim as to which the Court of Chancery determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, or for which the Court of Chancery does not have subject matter jurisdiction. If any provision or provisions of this Article Twelfth shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article Twelfth (including, without limitation, each portion of any sentence of this Article Twelfth containing any such provision held to be invalid, illegal

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or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.

**THIRTEENTH:** For purposes of Section 500 of the California Corporations Code (to the extent applicable), in connection with any repurchase of shares of Common Stock permitted under this Amended and Restated Certificate of Incorporation from employees, officers, directors or consultants of the Corporation in connection with a termination of employment or services pursuant to agreements or arrangements approved by the Board of Directors (in addition to any other consent required under this Amended and Restated Certificate of Incorporation), such repurchase may be made without regard to any "preferential dividends arrears amount" or "preferential rights amount" (as those terms are defined in Section 500 of the California Corporations Code). Accordingly, for purposes of making any calculation under California Corporations Code Section 500 in connection with such repurchase, the amount of any "preferential dividends arrears amount" or "preferential rights amount" (as those terms are defined therein) shall be deemed to be zero (0).

\* \* \*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;**That the foregoing amendment and restatement was approved by the holders of the requisite number of shares of this corporation in accordance with Section 228 of the General Corporation 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;**4.&nbsp;&nbsp;&nbsp;&nbsp;**That this Certificate of Incorporation, which restates and integrates and further amends the provisions of this Corporation's Certificate of Incorporation, has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law.

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**IN WITNESS WHEREOF**, this Ninth Amended and Restated Certificate of Incorporation has been executed by a duly authorized officer of this corporation on this 6th day of May, 2020.

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| | |
|:---|:---|
| By: | /s/ Wayne Ting |
|  | Chief Executive Officer |

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH**: The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 25,800,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 24th day of April, 2024.

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| |
|:---|
| /s/ Wayne Ting |
| Wayne Ting |
| Chief Executive Officer |

---

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH**: The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 27,000,000,000 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 14,008,547,900 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 20 day of May, 2025.

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| |
|:---|
| /s/ Wayne Ting |
| Wayne Ting |
| Chief Executive Officer |

---

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH:**&nbsp;&nbsp;&nbsp;&nbsp;The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 80,357,143 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 41,692,108 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**").

Effective immediately upon the filing of the Certificate of Amendment of this Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the "**Effective Time**"), each 336 shares of Common Stock and each 336 shares of each series of Preferred Stock outstanding immediately prior to the Effective Time shall, automatically and without further action on the part of any stockholders of this corporation, be reclassified as one (1) share of Common Stock or the applicable series of Preferred Stock, as the case may be (the "**Reverse Stock Split**"). Each stock certificate (or book entry shares) that, immediately prior to the Effective Time, represented shares of Common Stock or Preferred Stock that were issued and outstanding immediately prior to the Effective Time shall, from and after the Effective Time, represent that number of shares of Common Stock or Preferred Stock, as applicable, resulting from the Reverse Stock Split; *provided*, *however*, that each holder of any stock certificate(s) that represented shares of Common Stock or Preferred Stock immediately prior to the Effective Time shall be entitled to receive, upon surrender of such certificate(s), one or more stock certificates (or book entry shares) evidencing and representing the number of shares of Common Stock or Preferred Stock into which the shares represented by such certificate(s) shall have been reclassified pursuant to the Reverse Stock Split. No fractional shares of Common Stock or Preferred Stock shall be issued as a result of the Reverse Stock Split and, in lieu thereof, any person who would otherwise be entitled to a fractional share of Common Stock or Preferred Stock, as applicable, as a result of the Reverse Stock Split, following the Effective Time, shall be entitled to receive a cash payment equal to the fraction to which such holder would otherwise be entitled multiplied by the fair value per share of Common Stock or

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applicable series of Preferred Stock as determined by the Board of Directors. The par value of the Common Stock and Preferred Stock following the Reverse Stock Split shall remain at $0.0001 per share."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"11,904,762 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series 3 Preferred Stock**" or the "**Senior Preferred Stock**", 11,904,762 shares are designated "**Series 2 Preferred Stock**" and together with the Series 3 Preferred Stock are the "**Series Preferred Stock**", and 2,223,703 shares are designated "**Series 1-A Preferred Stock**", 514,679 shares are designated "**Series 1-Al Preferred Stock**", 3,920,538 shares are designated "**Series 1-B Preferred Stock**", 7,093,766 shares are designated "**Series 1-C Preferred Stock**", and 4,129,898 shares are designated "**Series 1-D Preferred Stock**", and collectively with the Series 1-A Preferred Stock, the Series 1-Al Preferred Stock, the Series 1-B Preferred Stock, and the Series 1-C Preferred Stock, the "**Series 1 Stock**", and together with the Series 2 Preferred Stock, the "**Junior Preferred Stock**", each with the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or "subsections" in this Part B of this Article Fourth refer to sections and subsections of Part B of this Article Fourth. For avoidance of doubt, the foregoing number of shares already reflects the Reverse Stock Split."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;The definition of "Original Issue Price" in Section 1 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"The "**Original Issue Price**" shall mean $1.922928 per share of Series 1-A Preferred Stock, $0.3532032 per share of Series 1-Al Preferred Stock, $8.012256 per share of Series 1-B Preferred Stock, $21.8912736 per share of Series 1-C Preferred Stock, and $29.0342976 per share of Series 1-D Preferred Stock (which in each case of the foregoing already reflects the Reverse Stock Split), and the Original Issue Price per share of Series 3 Preferred Stock and Series 2 Preferred Stock shall be the "Conversion Price" (as defined in that certain Note Purchase Agreement by and between the Corporation and the lenders named therein, dated as of May 6, 2020), each remaining subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Preferred Stock."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 2.3.1 of Part B of Article Fourth of the Certificate prior to clause (a) of such Section 2.3.1 is amended and restated, in its entirety, as follows:

"2.3.1 <u>Definition</u>. Each of the following events shall be considered a "**Deemed Liquidation Event**" unless, at any time when at least 2,977 shares of Series 3 Preferred Stock (which already reflects the Reverse Stock Split) are outstanding, the holders of at least a majority of the outstanding shares of Series Preferred Stock, including a majority of the then outstanding shares of Series 3 Preferred Stock, voting together as a single

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class and on an as-converted basis, elect otherwise by written notice sent to the Corporation at least five (5) days prior to the effective date of any such event:"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 3.3 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"3.3 <u>Preferred Stock Protective Provisions</u>. At any time when at least 1,547,620 shares of Series Preferred Stock, including at least 2,977 shares of Senior Preferred Stock (which in each case already reflects the Reverse Stock Split and remains subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series Preferred Stock or Senior Preferred Stock, as applicable) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of 66% of the holders of outstanding shares of Series Preferred Stock, voting together as a single class and on an as-converted basis (the "**Series Protective Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 3.5 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"3.5 <u>Series 1 Preferred Stock Protective Provisions</u>. At any time when at least 2,976,191 shares of Series 1 Preferred Stock (which already reflects the Reverse Stock Split and remains subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series 1 Preferred Stock) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the Series 1 Majority (as defined in that certain Voting Agreement, entered into on or about May 6, 2020) (the "**Series 1 Majority**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 12th day of May, 2026.

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| |
|:---|
| /s/ Wayne Ting |
| Wayne Ting |
| Chief Executive Officer |

---

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**CERTIFICATE OF AMENDMENT OF THE**

**NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF NEUTRON HOLDINGS, INC.**

The undersigned, for purposes of amending the Ninth Amended and Restated Certificate of Incorporation (the "**Certificate**") of Neutron Holdings, Inc. (the "**Corporation**"), a corporation organized and existing under, and by virtue of, the Delaware General Corporation Law, certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on January 3, 2017, under the name Neutron Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"**FOURTH:**&nbsp;&nbsp;&nbsp;&nbsp;The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 80,357,143 shares of Common Stock, $0.0001 par value per share ("**Common Stock**") and (ii) 20,846,055 shares of Preferred Stock, $0.0001 par value per share ("**Preferred Stock**").

Effective immediately upon the filing of the Certificate of Amendment of this Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the "**Effective Time**"), each two (2) shares of Common Stock and each two (2) shares of each series of Preferred Stock outstanding immediately prior to the Effective Time shall, automatically and without further action on the part of any stockholders of this corporation, be reclassified as one (1) share of Common Stock or the applicable series of Preferred Stock, as the case may be (the "**Reverse Stock Split**"). Each stock certificate (or book entry shares) that, immediately prior to the Effective Time, represented shares of Common Stock or Preferred Stock that were issued and outstanding immediately prior to the Effective Time shall, from and after the Effective Time, represent that number of shares of Common Stock or Preferred Stock, as applicable, resulting from the Reverse Stock Split; *provided*, *however*, that each holder of any stock certificate(s) that represented shares of Common Stock or Preferred Stock immediately prior to the Effective Time shall be entitled to receive, upon surrender of such certificate(s), one or more stock certificates (or book entry shares) evidencing and representing the number of shares of Common Stock or Preferred Stock into which the shares represented by such certificate(s) shall have been reclassified pursuant to the Reverse Stock Split. No fractional shares of Common Stock or Preferred Stock shall be issued as a result of the Reverse Stock Split and, in lieu thereof, any person who would otherwise be entitled to a fractional share of Common Stock or Preferred Stock, as applicable, as a result of the Reverse Stock Split, following the Effective Time, shall be entitled to receive a cash payment equal to the fraction to which such holder would otherwise be entitled multiplied by the fair value per share of Common Stock or

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applicable series of Preferred Stock as determined by the Board of Directors. The par value of the Common Stock and Preferred Stock following the Reverse Stock Split shall remain at $0.0001 per share."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"5,952,381 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series 3 Preferred Stock**" or the "**Senior Preferred Stock**", 5,952,381 shares are designated "**Series 2 Preferred Stock**" and together with the Series 3 Preferred Stock are the "**Series Preferred Stock**", and 1,111,852 shares are designated "**Series 1-A Preferred Stock**", 257,340 shares are designated "**Series 1-Al Preferred Stock**", 1,960,269 shares are designated "**Series 1-B Preferred Stock**", 3,546,883 shares are designated "**Series 1-C Preferred Stock**", and 2,064,949 shares are designated "**Series 1-D Preferred Stock**", and collectively with the Series 1-A Preferred Stock, the Series 1-Al Preferred Stock, the Series 1-B Preferred Stock, and the Series 1-C Preferred Stock, the "**Series 1 Stock**", and together with the Series 2 Preferred Stock, the "**Junior Preferred Stock**", each with the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or "subsections" in this Part B of this Article Fourth refer to sections and subsections of Part B of this Article Fourth. For avoidance of doubt, the foregoing number of shares already reflects the Reverse Stock Split."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;The definition of "Original Issue Price" in Section 1 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"The "**Original Issue Price**" shall mean $3.845856 per share of Series 1-A Preferred Stock, $0.7064064 per share of Series 1-Al Preferred Stock, $16.0245120 per share of Series 1-B Preferred Stock, $43.7825472 per share of Series 1-C Preferred Stock, and $58.0685952 per share of Series 1-D Preferred Stock (which in each case of the foregoing already reflects the Reverse Stock Split), and the Original Issue Price per share of Series 3 Preferred Stock and Series 2 Preferred Stock shall be the "Conversion Price" (as defined in that certain Note Purchase Agreement by and between the Corporation and the lenders named therein, dated as of May 6, 2020), each remaining subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Preferred Stock."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 2.3.1 of Part B of Article Fourth of the Certificate prior to clause (a) of such Section 2.3.1 is amended and restated, in its entirety, as follows:

"2.3.1 <u>Definition</u>. Each of the following events shall be considered a "**Deemed Liquidation Event**" unless, at any time when at least 1,489 shares of Series 3 Preferred Stock (which already reflects the Reverse Stock Split) are outstanding, the holders of at least a majority of the outstanding shares of Series Preferred Stock, including a majority of the then outstanding shares of Series 3 Preferred Stock, voting together as a single

------

class and on an as-converted basis, elect otherwise by written notice sent to the Corporation at least five (5) days prior to the effective date of any such event:"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 3.3 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"3.3 <u>Preferred Stock Protective Provisions</u>. At any time when at least 773,810 shares of Series Preferred Stock, including at least 1,489 shares of Senior Preferred Stock (which in each case already reflects the Reverse Stock Split and remains subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series Preferred Stock or Senior Preferred Stock, as applicable) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of 66% of the holders of outstanding shares of Series Preferred Stock, voting together as a single class and on an as-converted basis (the "**Series Protective Threshold**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 3.5 of Part B of Article Fourth of the Certificate is amended and restated, in its entirety, as follows:

"3.5 <u>Series 1 Preferred Stock Protective Provisions</u>. At any time when at least 1,488,096 shares of Series 1 Preferred Stock (which already reflects the Reverse Stock Split and remains subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series 1 Preferred Stock) are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the Series 1 Majority (as defined in that certain Voting Agreement, entered into on or about May 6, 2020) (the "**Series 1 Majority**") given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation has been duly adopted by the Corporation's Board of Directors and stockholders in accordance with the applicable provisions of Sections 141, 228 and 242 of the Delaware General Corporation Law.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment of the Ninth Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this 18th day of June, 2026.

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| | |
|:---|:---|
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Wayne Ting |
|  | Wayne Ting |
|  | Chief Executive Officer |

---

## Exhibit 3.2

**Exhibit 3.2**

**AMENDED AND RESTATED CERTIFICATE OF INCORPORATION**

**OF**

**NEUTRON HOLDINGS, INC.**

Neutron Holdings, Inc. (the "<u>Corporation</u>"), a corporation organized and existing under the General Corporation Law of the State of Delaware (the "<u>DGCL</u>"), does hereby certify as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Neutron Holdings, Inc. The Corporation was incorporated by the filing of its original Certificate of Incorporation with the Secretary of State of the State of Delaware on January 3, 2017.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;This Amended and Restated Certificate of Incorporation (this "<u>Restated</u> <u>Certificate</u>"), which amends, restates and further integrates the certificate of incorporation of the Corporation as heretofore in effect, has been approved by the Board of Directors of the Corporation (the "<u>Board of Directors</u>") in accordance with Sections 242 and 245 of the DGCL, and has been adopted by the written consent of the stockholders of the Corporation in accordance with Section 228 of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The text of the certificate of incorporation of the Corporation, as heretofore amended, is hereby amended and restated by this Restated Certificate to read in its entirety as set forth in <u>EXHIBIT A</u> attached hereto.

IN WITNESS WHEREOF, Neutron Holdings, Inc. has caused this Restated Certificate to be signed by a duly authorized officer of the Corporation, on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026.

[Signature Page Follows]

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---

| |
|:---|
| Neutron Holdings, Inc., a Delaware corporation |
| By: |
| Name: Wayne Ting |
| Title: Chief Executive Officer |

---

[Signature Page to Neutron Holdings, Inc. Amended & Restated Certificate of Incorporation]

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**<u>EXHIBIT A</u>**

**ARTICLE I**

The name of the corporation is Neutron Holdings, Inc. (the "<u>Corporation</u>").

**ARTICLE II**

The address of the Corporation's registered office in the State of Delaware is 13 West Main Street, P.O. Box 953, in the City of Felton, County of Kent, 19943, and the name of its registered agent at such address is CCS Global Solutions, Inc.

**ARTICLE III**

The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the "<u>DGCL</u>") as it now exists or may hereafter be amended and supplemented.

**ARTICLE IV**

The Corporation is authorized to issue two classes of stock to be designated, respectively, "<u>Common Stock</u>" and "<u>Preferred Stock</u>." The total number of shares of capital stock which the Corporation shall have authority to issue is 1,200,000,000. The total number of shares of Common Stock that the Corporation is authorized to issue is 1,000,000,000, having a par value of $0.0001 per share, and the total number of shares of Preferred Stock that the Corporation is authorized to issue is 200,000,000, having a par value of $0.0001 per share.

**ARTICLE V**

The designations and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of capital stock of the Corporation are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;<u>COMMON STOCK</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;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>.&nbsp;&nbsp;&nbsp;&nbsp;The voting, dividend, liquidation and other rights and powers of the Common Stock are subject to and qualified by the rights, powers and preferences of any series of Preferred Stock as may be designated by the Board of Directors of the Corporation (the "<u>Board of Directors</u>") and outstanding 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;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u>.&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided herein or expressly required by law, each holder of Common Stock, as such, shall be entitled to vote on each matter submitted to a vote of stockholders and shall be entitled to one (1) vote for each share of Common Stock held of record by such holder as of the record date for determining stockholders entitled to vote on such matter. Except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Restated Certificate (including any Certificate of Designation (as defined below)) that relates solely to the rights, powers, preferences (or the qualifications, limitations or restrictions thereof) or other terms of one or more outstanding series

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of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Restated Certificate (including any Certificate of Designation) or pursuant to the DGCL.

Subject to the rights of any holders of any outstanding series of Preferred Stock, the number of authorized shares of Common Stock or Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the requisite vote of the stockholders entitled to vote thereon, voting as a single class, irrespective of the provisions of Section 242(b)(2) of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends</u>. Subject to applicable law and the rights and preferences of any holders of any outstanding series of Preferred Stock, the holders of Common Stock, as such, shall be entitled to the payment of dividends on the Common Stock when, as and if declared by the Board of Directors 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;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Liquidation</u>. Subject to the rights and preferences of any holders of any shares of any outstanding series of Preferred Stock, in the event of any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, the funds and assets of the Corporation that may be legally distributed to the Corporation's stockholders shall be distributed among the holders of the then outstanding Common Stock <u>pro</u> <u>rata</u> in accordance with the number of shares of Common Stock held by each such holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;<u>PREFERRED STOCK</u>

Shares of Preferred Stock may be issued from time to time in one or more series, each of such series to have such terms as stated or expressed herein and in the resolution or resolutions providing for the creation and issuance of such series adopted by the Board of Directors as hereinafter provided.

Authority is hereby expressly granted to the Board of Directors from time to time to issue the Preferred Stock in one or more series, and in connection with the creation of any such series, by adopting a resolution or resolutions providing for the issuance of the shares thereof and by filing a certificate of designation relating thereto in accordance with the DGCL (a "<u>Certificate of</u> <u>Designation</u>"), to determine and fix the number of shares of such series and such voting powers, full or limited, or no voting powers, and such designations, preferences and relative participating, optional or other special rights, and qualifications, limitations or restrictions thereof, including without limitation thereof, dividend rights, conversion rights, redemption privileges and liquidation preferences, and to increase or decrease (but not below the number of shares of such series then outstanding) the number of shares of any series as shall be stated and expressed in such resolutions, all to the fullest extent now or hereafter permitted by the DGCL. Without limiting the generality of the foregoing, the resolution or resolutions providing for the creation and issuance of any series of Preferred Stock may provide that such series shall be superior or rank equally or be junior to any other series of Preferred Stock to the extent permitted by law and this Restated Certificate (including any Certificate of Designation). Except as otherwise required by law, holders of any series of Preferred Stock shall be entitled only to such voting rights, if

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any, as shall expressly be granted thereto by this Restated Certificate (including any Certificate of Designation).

The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) irrespective of the provisions of Section 242(b)(2) of the DGCL.

**ARTICLE VI**

For the management of the business and for the conduct of the affairs of the Corporation it is further provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Subject to the special rights of the holders of one or more outstanding series of Preferred Stock to elect directors, the directors of the Corporation shall be classified with respect to the time for which they severally hold office into three classes, designated as Class I, Class II and Class III. The initial Class I directors shall serve for a term expiring at the first annual meeting of stockholders following the initial registration of the Corporation's Common Stock pursuant to the Securities Exchange Act of 1934, as amended; the initial Class II directors shall serve for a term expiring at the second annual meeting of stockholders following such registration; and the initial Class III directors shall serve for a term expiring at the third annual meeting of stockholders following such registration. At each annual meeting of stockholders of the Corporation beginning with the first annual meeting of stockholders following the effective date of this Restated Certificate, subject to any special rights of the holders of one or more outstanding series of Preferred Stock to elect directors, the successors of the class of directors whose term expires at that meeting shall be elected to hold office for a term expiring at the annual meeting of stockholders held in the third year following the year of their election. Each director shall hold office until his or her successor is duly elected and qualified or until his or her earlier death, resignation, disqualification or removal. No decrease in the number of directors shall shorten the term of any incumbent director. The Board of Directors is authorized to designate members of the Board of Directors already in office as Class I, Class II and Class III.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Except as otherwise expressly provided by the DGCL or this Restated Certificate, the business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. The number of directors which shall constitute the whole Board of Directors shall be fixed exclusively by one or more resolutions adopted from time to time by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Subject to the special rights of the holders of one or more outstanding series of Preferred Stock to elect directors, the Board of Directors or any individual director may be removed from office at any time, but only for cause and only by the affirmative vote of the holders of at least two-thirds of the voting power of all of the then outstanding shares of voting stock of the Corporation entitled to vote at an election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Subject to the special rights of the holders of one or more outstanding series of Preferred Stock to elect directors, except as otherwise provided by law, any vacancies on the Board of Directors resulting from death, resignation, disqualification, retirement, removal or

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other causes and any newly created directorships resulting from any increase in the number of directors shall be filled exclusively by the affirmative vote of a majority of the directors then in office, although less than a quorum, or by a sole remaining director (other than any directors elected by the separate vote of one or more outstanding series of Preferred Stock), and shall not be filled by the stockholders. Any director appointed in accordance with the preceding sentence shall hold office until the expiration of the term of the class to which such director shall have been appointed or until his or her earlier death, resignation, retirement, disqualification or removal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Whenever the holders of any one or more series of Preferred Stock issued by the Corporation shall have the right, voting separately as a series or separately as a class with one or more such other series, to elect directors at an annual or special meeting of stockholders, the election, term of office, removal and other features of such directorships shall be governed by the terms of this Restated Certificate (including any Certificate of Designation). Notwithstanding anything to the contrary in this Article VI, the number of directors that may be elected by the holders of any such series of Preferred Stock shall be in addition to the number fixed pursuant to paragraph B of this Article VI, and the total number of directors constituting the whole Board of Directors shall be automatically adjusted accordingly. Except as otherwise provided in the Certificate of Designation(s) in respect of one or more series of Preferred Stock, whenever the holders of any series of Preferred Stock having such right to elect additional directors are divested of such right pursuant to the provisions of such Certificate of Designation(s), the terms of office of all such additional directors elected by the holders of such series of Preferred Stock, or elected to fill any vacancies resulting from the death, resignation, disqualification or removal of such additional directors, shall forthwith terminate (in which case each such director thereupon shall cease to be qualified as, and shall cease to be, a director) and the total authorized number of directors of the Corporation shall automatically be reduced accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. In furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to adopt, amend or repeal Bylaws of the Corporation. In addition to any vote of the holders of any class or series of stock of the Corporation required by applicable law or by this Restated Certificate (including any Certificate of Designation in respect of one or more series of Preferred Stock) or the Bylaws of the Corporation, the adoption, amendment or repeal of the Bylaws of the Corporation by the stockholders of the Corporation shall require the affirmative vote of the holders of at least two-thirds of the voting power of all of the then outstanding shares of voting stock of the Corporation entitled to vote generally in an election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. The directors of the Corporation need not be elected by written ballot unless the Bylaws so provide.

**ARTICLE VII**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Any action required or permitted to be taken by the stockholders of the Corporation must be effected at an annual or special meeting of stockholders of the Corporation, and shall not be taken by written consent in lieu of a meeting. Notwithstanding the foregoing, any action required or permitted to be taken by the holders of any series of Preferred Stock, voting

------

separately as a series or separately as a class with one or more other such series, may be taken without a meeting, without prior notice and without a vote, to the extent expressly so provided by the applicable Certificate of Designation relating to such series of Preferred Stock, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding shares of the relevant series of Preferred Stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and shall be delivered to the Corporation in accordance with the applicable provisions of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Subject to the special rights of the holders of one or more series of Preferred Stock, special meetings of stockholders of the Corporation may be called, for any purpose or purposes, at any time only by or at the direction of the Board of Directors, the Chairperson of the Board of Directors, the Chief Executive Officer or President, and shall not be called by any other person or persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Advance notice of stockholder nominations for the election of directors and of other business proposed to be brought by stockholders before any meeting of stockholders of the Corporation shall be given in the manner provided in the Bylaws of the Corporation.

**ARTICLE VIII**

No director or officer of the Corporation shall have any personal liability to the Corporation or its stockholders for monetary damages for any breach of fiduciary duty as a director or officer, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL as the same exists or hereafter may be amended. Any amendment, repeal or modification of this Article VIII, or the adoption of any provision of this Restated Certificate inconsistent with this Article VIII, shall not adversely affect any right or protection of a director or officer of the Corporation with respect to any act or omission occurring prior to such amendment, repeal, modification or adoption. If the DGCL is amended after approval by the stockholders of this Article VIII to authorize corporate action further eliminating or limiting the personal liability of directors or officers, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL as so amended.

**ARTICLE IX**

The Corporation shall have the power to provide rights to indemnification and advancement of expenses to its current and former officers, directors, employees and agents and to any person who is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise.

**ARTICLE X**

Unless the Corporation consents in writing to the selection of an alternative forum, (a) the Court of Chancery (the "<u>Chancery Court</u>") of the State of Delaware (or, in the event that the Chancery Court does not have jurisdiction, the federal district court for the District of Delaware

------

or other state courts of the State of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any derivative action, suit or proceeding brought on behalf of the Corporation, (ii) any action, suit or proceeding asserting a claim of breach of a fiduciary duty owed by any director, officer or stockholder of the Corporation to the Corporation or to the Corporation's stockholders, (iii) any action, suit or proceeding arising pursuant to any provision of the DGCL or the Bylaws of the Corporation or this Restated Certificate (as either may be amended from time to time) or (iv) any action, suit or proceeding asserting a claim against the Corporation governed by the internal affairs doctrine; and (b) subject to the preceding provisions of this Article X, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause or causes of action arising under the Securities Act of 1933, as amended, including all causes of action asserted against any defendant to such complaint. If any action the subject matter of which is within the scope of clause (a) of the immediately preceding sentence is filed in a court other than the courts in the State of Delaware (a "<u>Foreign Action</u>") in the name of any stockholder, such stockholder shall be deemed to have consented to (x) the personal jurisdiction of the state and federal courts in the State of Delaware in connection with any action brought in any such court to enforce the provisions of clause (a) of the immediately preceding sentence and (y) having service of process made upon such stockholder in any such action by service upon such stockholder's counsel in the Foreign Action as agent for such stockholder.

If any provision or provisions of this Article X shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever, (a) the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article X (including, without limitation, each portion of any paragraph of this Article X containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.

**ARTICLE XI**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Notwithstanding anything contained in this Restated Certificate to the contrary, in addition to any vote required by applicable law, the following provisions in this Restated Certificate may be amended, altered, repealed or rescinded, in whole or in part, or any provision inconsistent therewith or herewith may be adopted, only by the affirmative vote of the holders of

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at least two-thirds of the total voting power of all the then outstanding shares of stock of the Corporation entitled to vote thereon, voting together as a single class: Part B of Article V, Article VI, Article VII, Article VIII, Article IX, Article X, and this Article XI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. If any provision or provisions of this Restated Certificate shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever: (i) the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Restated Certificate (including, without limitation, each portion of any paragraph of this Restated Certificate containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not, to the fullest extent permitted by applicable law, in any way be affected or impaired thereby and (ii) to the fullest extent permitted by applicable law, the provisions of this Restated Certificate (including, without limitation, each such portion of any paragraph of this Restated Certificate containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to permit the Corporation to protect its directors, officers, employees and agents from personal liability in respect of their good faith service to or for the benefit of the Corporation to the fullest extent permitted by law.

## Exhibit 3.4

**Exhibit 3.4**

**Amended and Restated Bylaws of**

**Neutron Holdings, Inc.** 

**(a Delaware corporation)**

**as of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026**

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**Table of Contents**

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| | | |
|:---|:---|:---|
| | | **<u>Page</u>** |
| Article I - Corporate Offices | Article I - Corporate Offices | 1 |
| 1.1 | Registered Office | 1 |
| 1.2 | Other Offices | 1 |
| Article II - Meetings of Stockholders | Article II - Meetings of Stockholders | 1 |
| 2.1 | Place of Meetings | 1 |
| 2.2 | Annual Meeting | 1 |
| 2.3 | Special Meeting | 1 |
| 2.4 | Notice of Business to be Brought before a Meeting. | 1 |
| 2.5 | Notice of Nominations for Election to the Board of Directors. | 6 |
| 2.6 | Additional Requirements for Valid Nomination of Candidates to Serve as Director and, if Elected, to be Seated as Directors. | 9 |
| 2.7 | Notice of Stockholders' Meetings | 10 |
| 2.8 | Quorum | 10 |
| 2.9 | Adjourned Meeting; Notice | 11 |
| 2.10 | Conduct of Business | 11 |
| 2.11 | Voting | 12 |
| 2.12 | Record Date for Stockholder Meetings and Other Purposes | 12 |
| 2.13 | Proxies | 12 |
| 2.14 | List of Stockholders Entitled to Vote | 13 |
| 2.15 | Inspectors of Election | 13 |
| 2.16 | Delivery to the Corporation. | 14 |
| Article III - Directors | Article III - Directors | 14 |
| 3.1 | Powers | 14 |
| 3.2 | Number of Directors | 14 |
| 3.3 | Election, Qualification and Term of Office of Directors | 14 |
| 3.4 | Resignation and Vacancies | 14 |
| 3.5 | Place of Meetings; Meetings by Telephone | 15 |
| 3.6 | Regular Meetings | 15 |
| 3.7 | Special Meetings; Notice | 15 |
| 3.8 | Quorum | 16 |
| 3.9 | Board Action without a Meeting | 16 |
| 3.10 | Fees and Compensation of Directors | 16 |
| Article IV - Committees | Article IV - Committees | 16 |
| 4.1 | Committees of Directors | 16 |
| 4.2 | Committee Minutes | 16 |
| 4.3 | Meetings and Actions of Committees | 17 |
| 4.4 | Subcommittees. | 17 |
| Article V - Officers | Article V - Officers | 17 |
| 5.1 | Officers | 17 |
| 5.2 | Appointment of Officers | 17 |

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i

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**TABLE OF CONTENTS**

**(continued)**

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| | | |
|:---|:---|:---|
| | | **<u>Page</u>** |
| 5.3 | Subordinate Officers | 18 |
| 5.4 | Removal and Resignation of Officers | 18 |
| 5.5 | Vacancies in Offices | 18 |
| 5.6 | Representation of Shares of Other Corporations | 18 |
| 5.7 | Authority and Duties of Officers | 18 |
| 5.8 | Compensation. | 18 |
| Article VI - Records | Article VI - Records | 18 |
| Article VII - General Matters | Article VII - General Matters | 19 |
| 7.1 | Execution of Corporate Contracts and Instruments | 19 |
| 7.2 | Stock Certificates | 19 |
| 7.3 | Special Designation of Certificates. | 19 |
| 7.4 | Lost Certificates | 20 |
| 7.5 | Shares Without Certificates | 20 |
| 7.6 | Construction; Definitions | 20 |
| 7.7 | Dividends | 20 |
| 7.8 | Fiscal Year | 20 |
| 7.9 | Seal | 20 |
| 7.10 | Transfer of Stock | 20 |
| 7.11 | Stock Transfer Agreements | 21 |
| 7.12 | Registered Stockholders | 21 |
| 7.13 | Waiver of Notice | 21 |
| Article VIII - Notice | Article VIII - Notice | 21 |
| 8.1 | Delivery of Notice; Notice by Electronic Transmission | 21 |
| Article IX - Indemnification | Article IX - Indemnification | 22 |
| 9.1 | Indemnification of Directors and Officers | 22 |
| 9.2 | Indemnification of Others | 23 |
| 9.3 | Prepayment of Expenses | 23 |
| 9.4 | Determination; Claim | 23 |
| 9.5 | Non-Exclusivity of Rights | 23 |
| 9.6 | Insurance | 23 |
| 9.7 | Other Indemnification | 23 |
| 9.8 | Continuation of Indemnification | 24 |
| 9.9 | Amendment or Repeal; Interpretation | 24 |
| Article X - Amendments | Article X - Amendments | 25 |
| Article XI - Forum Selection | Article XI - Forum Selection | 25 |
| Article XII - Definitions | Article XII - Definitions | 26 |

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ii

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**Amended and Restated Bylaws of**

**Neutron Holdings, Inc.**

**Article I - Corporate Offices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Registered Office</u>.

The address of the registered office of Neutron Holdings, Inc. (the "<u>Corporation</u>") in the State of Delaware, and the name of its registered agent at such address, shall be as set forth in the Corporation's certificate of incorporation, as the same may be amended and/or restated from time to time (the "<u>Certificate of Incorporation</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Offices</u>.

The Corporation may have additional offices at any place or places, within or outside the State of Delaware, as the Corporation's board of directors (the "<u>Board</u>") may from time to time establish or as the business of the Corporation may require.

**Article II - Meetings of Stockholders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Place of Meetings</u>.

Meetings of stockholders shall be held at any place within or outside the State of Delaware, designated by the Board. The Board may, in its sole discretion, determine that a meeting of stockholders shall not be held at any place, but may instead be held solely by means of remote communication as authorized by Section 211(a)(2) of the General Corporation Law of the State of Delaware (the "<u>DGCL</u>"). In the absence of any such designation or determination, stockholders' meetings shall be held at the Corporation's principal executive office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Meeting</u>.

The Board shall designate the date and time of the annual meeting of stockholders. At the annual meeting of stockholders, directors shall be elected and other proper business properly brought before the meeting in accordance with Section 2.4 of these bylaws may be transacted. The Board may postpone, reschedule or cancel any previously scheduled annual meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Meeting</u>.

Special meetings of stockholders may be called only by such persons and only in such manner as set forth in the Certificate of Incorporation.

No business may be transacted at any special meeting of stockholders other than the business specified in the notice of such meeting. The Board may postpone, reschedule or cancel any previously scheduled special meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Business to be Brought Before a Meeting.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At an annual meeting of the stockholders, only such business shall be conducted as shall have been properly brought before the meeting. To be properly brought before an annual meeting,

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business must be (i) specified in a notice of meeting given by or at the direction of the Board, (ii) if not specified in a notice of meeting, otherwise brought before the meeting by or at the direction of the Board or the Chair of the Board or (iii) otherwise properly brought before the meeting by a stockholder present in person who (A) (1) was a record owner of shares of capital stock of the Corporation both at the time of giving the notice provided for in this Section 2.4 and at the time of the meeting, (2) is entitled to vote at the meeting, and (3) has complied with this Section 2.4 in all applicable respects or (B) properly made such proposal in accordance with Rule 14a-8 under the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (as so amended and inclusive of such rules and regulations, the "<u>Exchange Act</u>"). The foregoing clause (iii) shall be the exclusive means for a stockholder to propose business to be brought before an annual meeting of the stockholders. The only matters that may be brought before a special meeting are the matters specified in the notice of meeting given by or at the direction of the person calling the meeting pursuant to Section 2.3, and stockholders shall not be permitted to propose business to be brought before a special meeting of the stockholders. For purposes of this Section 2.4, "<u>present in person</u>" shall mean that the stockholder proposing that the business be brought before the annual meeting of the Corporation, or a qualified representative of such proposing stockholder, appears at such annual meeting, either in person or by means of remote communication. For purposes of this Section 2.4 and Section 2.5, a "<u>qualified representative</u>" of such proposing stockholder shall be a duly authorized officer, manager or partner of such stockholder or any other person authorized by a writing executed by such stockholder or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of stockholders and such person must produce such writing or electronic transmission, or a reliable reproduction of the writing or electronic transmission, at or before the meeting of stockholders in writing or by electronic transmission. Stockholders seeking to nominate persons for election to the Board must comply with Section 2.5 and Section 2.6 and this Section 2.4 shall not be applicable to nominations except as expressly provided in Section 2.5 and Section 2.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without qualification, for business to be properly brought before an annual meeting by a stockholder, the stockholder must (i) provide Timely Notice (as defined below) thereof in writing and in proper form to the Secretary of the Corporation and (ii) provide any updates or supplements to such notice at the times and in the forms required by this Section 2.4. To be timely, a stockholder's notice must be delivered to, or mailed and received with, the Secretary at the principal executive offices of the Corporation not less than ninety (90) days nor more than one hundred twenty (120) days prior to the one-year anniversary of the preceding year's annual meeting which, in the case of the first annual meeting of stockholders following the closing of the Corporation's initial underwritten public offering of common stock, the date of the preceding year's annual meeting shall be deemed to be May 1, provided, however, that if the date of the annual meeting is more than thirty (30) days before or more than sixty (60) days after such anniversary date, notice by the stockholder to be timely must be so delivered, or mailed and received, not more than the hundred twentieth (120th) day prior to such annual meeting and not later than (i) the ninetieth (90th) day prior to such annual meeting or, (ii) if later, the tenth (10th) day following the day on which public disclosure of the date of such annual meeting was first made by the Corporation (such notice within such time periods, "<u>Timely Notice</u>"). In no event shall any adjournment or postponement of an annual meeting or the announcement thereof commence a new time period (or extend any time period) for the giving of Timely Notice as described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To be in proper form for purposes of this Section 2.4, a stockholder's notice to the Secretary shall set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;As to each Proposing Person (as defined below), (A) the name and address of such Proposing Person (including, if applicable, the name and address that appear on the Corporation's books

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and records), (B) the class or series and number of shares of capital stock of the Corporation that are, directly or indirectly, owned of record or beneficially owned (within the meaning of Rule 13d-3 under the Exchange Act) by such Proposing Person, except that such Proposing Person shall in all events be deemed to beneficially own any shares of any class or series of capital stock of the Corporation as to which such Proposing Person has a right to acquire beneficial ownership at any time in the future, (C) the date or dates such shares were acquired, (D) the investment intent of such acquisition and (E) any pledge by such Proposing Person with respect to any of such shares (the disclosures to be made pursuant to the foregoing clauses (A) through (E) are referred to as "<u>Stockholder Information</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;As to each Proposing Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the material terms and conditions of any "derivative security" (as such term is defined in Rule 16a-1(c) under the Exchange Act) that constitutes a "call equivalent position" (as such term is defined in Rule 16a-1(b) under the Exchange Act) or a "put equivalent position" (as such term is defined in Rule 16a-1(h) under the Exchange Act) or other derivative or synthetic arrangement in respect of any class or series of shares of capital stock of the Corporation ("<u>Synthetic Equity Position</u>") that is, directly or indirectly, held or maintained by, held for the benefit of, or involving such Proposing Person, including, without limitation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any option, warrant, convertible security, stock appreciation right, future or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares of capital stock of the Corporation or with a value derived in whole or in part from the value of any shares of any class or series of shares of capital stock of the Corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any derivative or synthetic arrangement having the characteristics of a long position or a short position in any class or series of shares of capital stock of the Corporation, including, without limitation, a stock loan transaction, a stock borrow transaction, or a share repurchase transaction or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) any contract, derivative, swap or other transaction or series of transactions designed to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) produce economic benefits and risks that correspond substantially to the ownership of any class or series of shares of capital stock of the Corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) mitigate any loss relating to, reduce the economic risk (of ownership or otherwise) of, or manage the risk of share price decrease in, any class or series of shares of capital stock of the Corporation, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) increase or decrease the voting power in respect of any class or series of shares of capital stock of the Corporation held or maintained by, held for the benefit of, or involving such Proposing Person,

including, without limitation, due to the fact that the value of such contract, derivative, swap or other transaction or series of transactions is determined by reference to the price, value or volatility of any class or series of shares of capital stock of the Corporation, whether or not such instrument, contract or right shall be subject to settlement in the underlying class or series of shares of capital stock of the Corporation, through the delivery of cash or other property, or otherwise, and without regard to whether the holder thereof may have entered into transactions that hedge or mitigate the economic effect of such instrument, contract or right, or any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the price or value of any shares of any class or series of shares of capital stock of the Corporation;

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*provided that*, for the purposes of the definition of "Synthetic Equity Position," the term "derivative security" shall also include any security or instrument that would not otherwise constitute a "derivative security" as a result of any feature that would make any conversion, exercise or similar right or privilege of such security or instrument becoming determinable only at some future date or upon the happening of a future occurrence, in which case the determination of the amount of securities into which such security or instrument would be convertible or exercisable shall be made assuming that such security or instrument is immediately convertible or exercisable at the time of such determination; and, provided, further, that any Proposing Person satisfying the requirements of Rule 13d-1(b)(1) under the Exchange Act (other than a Proposing Person that so satisfies Rule 13d-1(b)(1) under the Exchange Act solely by reason of Rule 13d-1(b)(1)(ii)(E)) shall not be deemed to hold or maintain the notional amount of any securities that underly any Synthetic Equity Position that is, directly or indirectly, held or maintained by, held for the benefit of, or involving such Proposing Person as a hedge with respect to a bona fide derivatives trade or position of such Proposing Person arising in the ordinary course of such Proposing Person's business as a derivatives dealer,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a description of any agreement, arrangement or understanding with respect to any rights to dividends on the shares of any class or series of shares of capital stock of the Corporation owned beneficially by such Proposing Person that are separated or separable pursuant to such agreement, arrangement or understanding from the underlying shares of capital stock of the Corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any material pending or threatened legal proceeding in which such Proposing Person is a party or material participant involving the Corporation or any of its officers or directors, or any affiliate of the Corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any other material relationship between such Proposing Person, on the one hand, and the Corporation or any affiliate of the Corporation, on the other hand,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any direct or indirect material interest in any material contract or agreement of such Proposing Person with the Corporation or any affiliate of the Corporation (including, in any such case, any employment agreement, collective bargaining agreement or consulting agreement),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) any proportionate interest in shares of capital stock of the Corporation or a Synthetic Equity Position held, directly or indirectly, by a general or limited partnership, limited liability company or similar entity in which any such Proposing Person (1) is a general partner or, directly or indirectly, beneficially owns an interest in a general partner of such general or limited partnership or (2) is the manager, managing member or, directly or indirectly, beneficially owns an interest in the manager or managing member of such limited liability company or similar entity,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) a representation that such Proposing Person intends or is part of a group that intends to deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporation's outstanding capital stock required to approve or adopt the proposal or otherwise solicit proxies or votes from stockholders in support of such proposal and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) any other information relating to such Proposing Person that would be required to be disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies or consents by such Proposing Person in support of the business proposed to be brought before the meeting pursuant to Section 14(a) of the Exchange Act,

(the disclosures to be made pursuant to the foregoing clauses (A) through (H) are referred to as "<u>Disclosable Interests</u>"); provided, however, that Disclosable Interests shall not include any such

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disclosures with respect to the ordinary course business activities of any broker, dealer, commercial bank, trust company or other nominee who is a Proposing Person solely as a result of being the stockholder directed to prepare and submit the notice required by these bylaws on behalf of a beneficial owner; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;As to each item of business that the stockholder proposes to bring before the annual meeting, (A) a brief description of the business desired to be brought before the annual meeting, the reasons for conducting such business at the annual meeting and any material interest in such business of each Proposing Person, (B) the text of the proposal or business (including the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend these bylaws, the language of the proposed amendment), (C) a reasonably detailed description of all agreements, arrangements and understandings (x) between or among any of the Proposing Persons or (y) between or among any Proposing Person and any other person or entity (including their names) in connection with the proposal of such business by such stockholder, and (D) any other information relating to such item of business that would be required to be disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies in support of the business proposed to be brought before the meeting pursuant to Section 14(a) of the Exchange Act; provided, however, that the disclosures required by this paragraph (iii) shall not include any disclosures with respect to any broker, dealer, commercial bank, trust company or other nominee who is a Proposing Person solely as a result of being the stockholder directed to prepare and submit the notice required by these bylaws on behalf of a beneficial owner.

For purposes of this Section 2.4, the term "<u>Proposing Person</u>" shall mean (i) the stockholder providing the notice of business proposed to be brought before an annual meeting, (ii) the beneficial owner or beneficial owners, if different, on whose behalf the notice of the business proposed to be brought before the annual meeting is made, and (iii) any participant (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule 14A) with such stockholder in such solicitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Board may request that any Proposing Person furnish such additional information as may be reasonably required by the Board. Such Proposing Person shall provide such additional information within ten (10) days after it has been requested by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;A Proposing Person shall update and supplement its notice to the Corporation of its intent to propose business at an annual meeting, if necessary, so that the information provided or required to be provided in such notice pursuant to this Section 2.4 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date that is ten (10) business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the Secretary at the principal executive offices of the Corporation not later than five (5) business days after the record date for stockholders entitled to vote at the meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8) business days prior to the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10) business days prior to the meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other Section of these bylaws shall not limit the Corporation's rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has previously submitted notice hereunder to amend or update any proposal or to submit any new proposal, including by changing or adding matters, business or resolutions proposed to be brought before a meeting of the stockholders.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in these bylaws to the contrary, no business shall be conducted at an annual meeting that is not properly brought before the meeting in accordance with this Section 2.4. The presiding officer of the meeting (or, in advance of any meeting of stockholders, the Board or an authorized committee thereof) shall, if the facts warrant, determine that the business was not properly brought before the meeting in accordance with this Section 2.4, and if he or she should so determine, he or she shall so declare to the meeting and any such business not properly brought before the meeting shall not be transacted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;This Section 2.4 is expressly intended to apply to any business proposed to be brought before an annual meeting of stockholders other than any proposal made in accordance with Rule 14a-8 under the Exchange Act and included in the Corporation's proxy statement. In addition to the requirements of this Section 2.4 with respect to any business proposed to be brought before an annual meeting, each Proposing Person shall comply with all applicable requirements of the Exchange Act with respect to any such business. Nothing in this Section 2.4 shall be deemed to affect the rights of stockholders to request inclusion of proposals in the Corporation's proxy statement pursuant to Rule 14a-8 under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of these bylaws, "<u>public disclosure</u>" shall mean disclosure in a press release reported by a national news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Sections 13, 14 or 15(d) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Nominations for Election to the Board of Directors.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Nominations of any person for election to the Board at an annual meeting or at a special meeting (but only if the election of directors is a matter specified in the notice of meeting given by or at the direction of the person calling such special meeting) may be made at such meeting only (i) by or at the direction of the Board, including by any committee or persons authorized to do so by the Board or these bylaws, or (ii) by a stockholder present in person who (A) was a record owner of shares of capital stock of the Corporation both at the time of giving the notice provided for in this Section 2.5 and at the time of the meeting, (B) is entitled to vote at the meeting, and (C) has complied with this Section 2.5 and Section 2.6 as to such notice and nomination. For purposes of this Section 2.5, "<u>present in person</u>" shall mean that the stockholder nominating any person for election to the Board at the meeting of the Corporation, or a qualified representative of such stockholder, appear at such meeting, either in person or by means of remote communication. The foregoing clause (ii) shall be the exclusive means for a stockholder to make any nomination of a person or persons for election to the Board at an annual meeting or special meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Without qualification, for a stockholder to make any nomination of a person or persons for election to the Board at an annual meeting, the stockholder must (1) provide Timely Notice (as defined in Section 2.4) thereof in writing and in proper form to the Secretary of the Corporation, (2) provide the information, agreements and questionnaires with respect to each Nominating Person (as defined below) and its candidate for nomination as required to be set forth by this Section 2.5 and Section 2.6 and (3) provide any updates or supplements to such notice at the times and in the forms required by this Section 2.5 and Section 2.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Without qualification, if the election of directors is a matter specified in the notice of meeting given by or at the direction of the person calling a special meeting, then for a stockholder to make any nomination of a person or persons for election to the Board at a special meeting, the stockholder must (A) provide timely notice thereof in writing and in proper form to the Secretary of the Corporation at the principal executive offices of the Corporation, (B) provide the information with respect to each Nominating Person and its candidate for nomination as required by this Section 2.5 and Section 2.6 and

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(C) provide any updates or supplements to such notice at the times and in the forms required by this Section 2.5. To be timely, a stockholder's notice for nominations to be made at a special meeting must be delivered to, or mailed and received at, the principal executive offices of the Corporation not earlier than the one hundred twentieth (120th) day prior to such special meeting and not later than the ninetieth (90th) day prior to such special meeting or, if later, the tenth (10th) day following the day on which public disclosure (as defined in Section 2.4) of the date of such special meeting was first made (such notice within such time periods, "<u>Special Meeting Timely Notice</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) In no event shall any adjournment or postponement of an annual meeting or special meeting or the announcement thereof commence a new time period (or extend any time period) for the giving of a stockholder's notice as described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In no event may a Nominating Person deliver a notice of nomination, as applicable, with respect to a greater number of director candidates than are subject to election by stockholders at the applicable meeting. If the Corporation shall, subsequent to such notice, increase the number of directors subject to election at the meeting, such notice as to any additional nominees shall be due on the later of (i) the conclusion of the time period for Timely Notice or Special Meeting Timely Notice, as applicable, or (ii) the tenth day following the date of public disclosure (as defined in Section 2.4) of such increase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To be in proper form for purposes of this Section 2.5, a stockholder's notice to the Secretary shall set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;As to each Nominating Person, the Stockholder Information (as defined in Section 2.4(c)(i), except that for purposes of this Section 2.5 the term "Nominating Person" shall be substituted for the term "Proposing Person" in all places it appears in Section 2.4(c)(i));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;As to each Nominating Person, any Disclosable Interests (as defined in Section 2.4(c)(ii), except that for purposes of this Section 2.5 the term "Nominating Person" shall be substituted for the term "Proposing Person" in all places it appears in Section 2.4(c)(ii) and the disclosure with respect to the business to be brought before the meeting in Section 2.4(c)(ii) shall be made with respect to the nomination proposed to be made at the meeting); and *provided that*, in lieu of including the information set forth in Section 2.4(c)(ii)(G), the Nominating Person's notice for purposes of this Section 2.5 shall include a representation as to whether the Nominating Person intends or is part of a group that intends to deliver a proxy statement and solicit the holders of shares representing at least 67% of the voting power of shares entitled to vote on the election of directors in support of director nominees other than the Corporation's nominees in accordance with Rule 14a-19 promulgated under the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;As to each candidate whom a Nominating Person proposes to nominate for election as a director, (A) all information relating to such candidate for nomination that is required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors in a contested election pursuant to Section 14(a) under the Exchange Act (including such candidate's written consent to being named in a proxy statement and accompanying proxy card relating to the Corporation's next meeting of stockholders at which directors are to be elected and to serving as a director for a full term if elected), (B) a description of any direct or indirect material interest in any material contract or agreement between or among any Nominating Person, on the one hand, and each candidate for nomination or his or her respective associates (as defined in Rule 14a-1(a) promulgated under the Exchange Act) or any other participants (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule 14A) in such solicitation, on the other hand, including, without limitation, all information that would be required to be disclosed pursuant to Item 404 under Regulation

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S-K if such Nominating Person were the "registrant" for purposes of such rule and the candidate for nomination were a director or executive officer of such registrant (the disclosures to be made pursuant to the foregoing clauses (A) and (B) are referred to as "<u>Nominee Information</u>"), and (C) a completed and signed questionnaire, representation and agreement as provided in Section 2.6(a).

For purposes of this Section 2.5, the term "<u>Nominating Person</u>" shall mean (i) the stockholder providing the notice of the nomination proposed to be made at the meeting, (ii) the beneficial owner or beneficial owners, if different, on whose behalf the notice of the nomination proposed to be made at the meeting is made, and (iii) any participant (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule 14A) with such stockholder in such solicitation.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Board may request that any Nominating Person furnish such additional information as may be reasonably required by the Board. Such Nominating Person shall provide such additional information within ten (10) days after it has been requested by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;A stockholder providing notice of any nomination proposed to be made at a meeting shall further update and supplement such notice or the materials delivered pursuant to this Section 2.5, as applicable, if necessary, so that the information provided or required to be provided in such notice pursuant to this Section 2.5 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date that is ten (10) business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the Secretary at the principal executive offices of the Corporation not later than five (5) business days after the record date for stockholders entitled to vote at the meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8) business days prior to the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10) business days prior to the meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other Section of these bylaws shall not limit the Corporation's rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has previously submitted notice hereunder to amend or update any nomination, including by changing or adding nominees, or to submit any new nomination, or submit any new proposal, matters, business or resolutions proposed to be brought before a meeting of the stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;In addition to the requirements of this Section 2.5 with respect to any nomination proposed to be made at a meeting, each Nominating Person shall comply with all applicable requirements of the Exchange Act with respect to any such nominations. Notwithstanding the foregoing provisions of this Section 2.5, unless otherwise required by law, (i) no Nominating Person shall solicit proxies in support of director nominees other than the Corporation's nominees unless such Nominating Person has, or is part of a group that has, complied with Rule 14a-19 promulgated under the Exchange Act in connection with the solicitation of such proxies, including the provision to the Corporation of notices required thereunder, in accordance with the time frames required in this Section 2.5 or by Rule 14a-19 promulgated under the Exchange Act, as applicable, and (ii) if (1) any Nominating Person provides notice in accordance with Rule 14a-19(b) promulgated under the Exchange Act and (2) (x) such notice in accordance with Rule 14a-19(b) is not provided within the time period for Timely Notice or Special Meeting Timely Notice, as applicable, (y) such Nominating Person subsequently fails to comply with the requirements of Rule 14a-19(a)(2) or Rule 14a-19(a)(3) promulgated under the Exchange Act or (z) such Nominating Person fails to timely provide reasonable evidence sufficient to satisfy the Corporation that

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such Nominating Person has met the requirements of Rule 14a-19(a)(3) promulgated under the Exchange Act in accordance with the following sentence, then the nomination of such Nominating Person's proposed nominees shall be disregarded, notwithstanding that each such nominee is included as a nominee in the Corporation's proxy statement, notice of meeting or other proxy materials for any meeting of stockholders (or any supplement thereto) and notwithstanding that proxies or votes in respect of the election of such proposed nominees may have been received by the Corporation (which proxies and votes shall be disregarded). If any Nominating Person provides notice in accordance with Rule 14a-19(b) promulgated under the Exchange Act, such Nominating Person shall deliver to the Corporation, no later than seven (7) business days prior to the applicable meeting, reasonable evidence that it has met the requirements of Rule 14a-19(a)(3) promulgated under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Requirements for Valid Nomination of Candidates to Serve as Director and, if Elected, to be Seated as Directors.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To be eligible to be a candidate for election as a director of the Corporation at an annual or special meeting, a candidate must be nominated in the manner prescribed in Section 2.5 and the candidate for nomination, whether nominated by the Board or by a stockholder of record, must have previously delivered, to the Secretary at the principal executive offices of the Corporation, (i) a completed written questionnaire (in the form provided by the Corporation within ten (10) days upon written request of any stockholder of record therefor) with respect to the background, qualifications, stock ownership and independence of such proposed nominee and (ii) a written representation and agreement (in the form provided by the Corporation within ten (10) days upon written request of any stockholder of record therefor) that such candidate for nomination (A) is not and, if elected as a director during his or her term of office, will not become a party to (1) any agreement, arrangement or understanding with, and has not given and will not give any commitment or assurance to, any person or entity as to how such proposed nominee, if elected as a director of the Corporation, will act or vote on any issue or question (a "<u>Voting Commitment</u>") or (2) any Voting Commitment that could limit or interfere with such proposed nominee's ability to comply, if elected as a director of the Corporation, with such proposed nominee's fiduciary duties under applicable law, (B) is not, and will not become a party to, any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation or reimbursement for service as a director that has not been disclosed therein or to the Corporation, (C) if elected as a director of the Corporation, will comply with all applicable corporate governance, conflict of interest, confidentiality, stock ownership and trading and other policies and guidelines of the Corporation applicable to directors and in effect during such person's term in office as a director (and, if requested by any candidate for nomination, the Secretary of the Corporation shall provide to such candidate for nomination all such policies and guidelines then in effect), and (D) if elected as a director of the Corporation, intends to serve the entire term until the next meeting at which such candidate would face re-election.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Board may also require any proposed candidate for nomination as a director to furnish such other information as may reasonably be requested by the Board in writing prior to the meeting of stockholders at which such candidate's nomination is to be acted upon. Without limiting the generality of the foregoing, the Board may request such other information in order for the Board to determine the eligibility of such candidate for nomination to be an independent director of the Corporation or to comply with the director qualification standards and additional selection criteria in accordance with the Corporation's Corporate Governance Guidelines. Such other information shall be delivered to, or mailed and received by, the Secretary at the principal executive offices of the Corporation not later than five (5) business days after the request by the Board has been delivered to, or mailed and received by, the Nominating Person.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;A candidate for nomination as a director shall further update and supplement the materials delivered pursuant to this Section 2.6, if necessary, so that the information provided or required to be provided pursuant to this Section 2.6 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date that is ten (10) business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the Secretary at the principal executive offices of the Corporation not later than five (5) business days after the record date for stockholders entitled to vote at the meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8) business days prior to the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10) business days prior to the meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other Section of these bylaws shall not limit the Corporation's rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has previously submitted notice hereunder to amend or update any nomination or to submit any new proposal, including by changing or adding nominees, matters, business or resolutions proposed to be brought before a meeting of the stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No candidate nominated pursuant to Section 2.5(a)(ii) shall be eligible for nomination as a director of the Corporation unless such candidate for nomination and the Nominating Person seeking to place such candidate's name in nomination has complied with Section 2.5 and this Section 2.6, as applicable. The presiding officer at the meeting shall, if the facts warrant, determine that a nomination was not properly made in accordance with Section 2.5 and this Section 2.6, and if he or she should so determine, he or she shall so declare such determination to the meeting, the defective nomination shall be disregarded and any ballots cast for the candidate in question (but in the case of any form of ballot listing other qualified nominees, only the ballots cast for the nominee in question) shall be void and of no force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in these bylaws to the contrary, no candidate for nomination shall be eligible to be seated as a director of the Corporation unless nominated in accordance with Section 2.5 and this Section 2.6 and elected as a director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Stockholders' Meetings</u>.

Unless otherwise provided by law, the Certificate of Incorporation or these bylaws, the notice of any meeting of stockholders shall be sent or otherwise given in accordance with Section 8.1 of these bylaws not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder entitled to vote at such meeting. The notice shall specify the place, if any, date and time of the meeting, the means of remote communication, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, and, in the case of a special meeting of stockholders, the purpose or purposes for which such meeting is called.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Quorum</u>.

Unless otherwise provided by law, the Certificate of Incorporation or these bylaws, the holders of a majority in voting power of the stock issued and outstanding and entitled to vote, present in person, or by remote communication, if applicable, or represented by proxy, shall constitute a quorum for the transaction of business at all meetings of stockholders. A quorum, once established at a meeting, shall not be broken by the withdrawal of enough votes to leave less than a quorum. If, however, a quorum is not

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present or represented at any meeting of stockholders, then either (i) the person presiding over the meeting or (ii) a majority in voting power of the stockholders entitled to vote at the meeting, present in person, or by remote communication, if applicable, or represented by proxy, shall have power to recess the meeting or adjourn the meeting from time to time in the manner provided in Section 2.9 of these bylaws until a quorum is present or represented. At any recessed or adjourned meeting at which a quorum is present or represented, any business may be transacted that might have been transacted at the meeting as originally noticed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjourned Meeting; Notice</u>.

When a meeting is adjourned to another time or place, unless these bylaws otherwise require, notice need not be given of the adjourned meeting if the time, place, if any, thereof, and the means of remote communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such adjourned meeting are announced at the meeting at which the adjournment is taken or are provided in any other manner permitted by the DGCL. At any adjourned meeting, the Corporation may transact any business which might have been transacted at the original meeting. If the adjournment is for more than thirty (30) days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. If after the adjournment a new record date for determination of stockholders entitled to vote is fixed for the adjourned meeting, the Board shall fix as the record date for determining stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote at the adjourned meeting, and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at such meeting as of the record date so fixed for notice of such adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Conduct of Business</u>.

The date and time of the opening and the closing of the polls for each matter upon which the stockholders will vote at a meeting shall be announced at the meeting by the person presiding over the meeting. The Board may adopt by resolution such rules and regulations for the conduct of the meeting of stockholders as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the Board, the person presiding over any meeting of stockholders shall have the right and authority to convene and (for any or no reason) to recess and/or adjourn the meeting, to prescribe such rules, regulations and procedures (which need not be in writing) and to do all such acts as, in the judgment of such presiding person, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board or prescribed by the person presiding over the meeting, may include, without limitation, the following: (i) the establishment of an agenda or order of business for the meeting; (ii) rules and procedures for maintaining order at the meeting and the safety of those present (including, without limitation, rules and procedures for removal of disruptive persons from the meeting); (iii) limitations on attendance at or participation in the meeting to stockholders entitled to vote at the meeting, their duly authorized and constituted proxies or such other persons as the person presiding over the meeting shall determine; (iv) restrictions on entry to the meeting after the time fixed for the commencement thereof; and (v) limitations on the time allotted to questions or comments by participants. The presiding person at any meeting of stockholders, in addition to making any other determinations that may be appropriate to the conduct of the meeting (including, without limitation, determinations with respect to the administration and/or interpretation of any of the rules, regulations or procedures of the meeting, whether adopted by the Board or prescribed by the person presiding over the meeting), shall, if the facts warrant, determine and declare to the meeting that a matter of business was not properly brought before the meeting and if such presiding person should so determine, such presiding person shall so declare to the meeting and any such matter or business not properly brought before the meeting shall not be transacted or considered. Unless and to the extent determined by the Board or the

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person presiding over the meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u>.

Except as may be otherwise provided in the Certificate of Incorporation, these bylaws or the DGCL, each stockholder shall be entitled to one (1) vote for each share of capital stock held by such stockholder.

Except as otherwise provided by the Certificate of Incorporation, at all duly called or convened meetings of stockholders at which a quorum is present, for the election of directors, a plurality of the votes cast shall be sufficient to elect a director. Except as otherwise provided by the Certificate of Incorporation, these bylaws, the rules or regulations of any stock exchange applicable to the Corporation, or applicable law or pursuant to any regulation applicable to the Corporation or its securities, each other matter presented to the stockholders at a duly called or convened meeting at which a quorum is present shall be decided by the affirmative vote of the holders of a majority in voting power of the votes cast (excluding abstentions and broker non-votes) on such matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Record Date for Stockholder Meetings and Other Purposes</u>.

In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board, and which record date shall, unless otherwise required by law, not be more than sixty (60) days nor less than ten (10) days before the date of such meeting. If the Board so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board determines, at the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination. If no record date is fixed by the Board, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be the close of business on the next day preceding the day on which notice is first given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board may fix a new record date for determination of stockholders entitled to vote at the adjourned meeting; and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote in accordance herewith at the adjourned meeting.

In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment or any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of capital stock, or for the purposes of any other lawful action, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than sixty (60) days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Proxies</u>.

Each stockholder entitled to vote at a meeting of stockholders may authorize another person or persons to act for such stockholder by proxy authorized by an instrument in writing or by a transmission

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permitted by law, including Rule 14a-19 promulgated under the Securities Exchange Act of 1934, as amended, filed in accordance with the procedure established for the meeting, but no such proxy shall be voted or acted upon after three (3) years from its date, unless the proxy provides for a longer period. The revocability of a proxy that states on its face that it is irrevocable shall be governed by the provisions of Section 212 of the DGCL. A proxy may be in the form of an electronic transmission which sets forth or is submitted with information from which it can be determined that the transmission was authorized by the stockholder.

Any stockholder directly or indirectly soliciting proxies from other stockholders must use a proxy card color other than white, which shall be reserved for the exclusive use by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;<u>List of Stockholders Entitled to Vote</u>.

The Corporation shall prepare, no later than the tenth day before each meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting (provided, however, that if the record date for determining the stockholders entitled to vote is less than ten (10) days before the date of the meeting, the list shall reflect the stockholders entitled to vote as of the tenth day before the meeting date), arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. The Corporation shall not be required to include electronic mail addresses or other electronic contact information on such list. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting for a period of ten (10) days ending on the day before the meeting date: (i) on a reasonably accessible electronic network, *provided that* the information required to gain access to such list is provided with the notice of the meeting, or (ii) during ordinary business hours, at the Corporation's principal executive office. In the event that the Corporation determines to make the list available on an electronic network, the Corporation may take reasonable steps to ensure that such information is available only to stockholders of the Corporation. Such list shall presumptively determine the identity of the stockholders entitled to vote at the meeting and the number of shares held by each of them. Except as otherwise provided by law, the stock ledger shall be the only evidence as to who are the stockholders entitled to examine the list of stockholders required by this Section 2.14 or to vote in person or by proxy at any meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspectors of Election</u>.

Before any meeting of stockholders, the Corporation shall appoint an inspector or inspectors of election to act at the meeting or its adjournment and make a written report thereof. The Corporation may designate one or more persons as alternate inspectors to replace any inspector who fails to act. If any person appointed as inspector or any alternate fails to appear or fails or refuses to act, then the person presiding over the meeting shall appoint a person to fill that vacancy.

Such inspectors shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;determine the number of shares outstanding and the voting power of each, the number of shares represented at the meeting and the validity of any proxies and ballots;

&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)&nbsp;&nbsp;&nbsp;&nbsp;count all votes or ballots;

&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)&nbsp;&nbsp;&nbsp;&nbsp;count and tabulate all votes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;determine and retain for a reasonable period a record of the disposition of any challenges made to any determination by the inspector(s); 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;certify its or their determination of the number of shares represented at the meeting and its or their count of all votes and ballots.

Each inspector, before entering upon the discharge of the duties of inspector, shall take and sign an oath faithfully to execute the duties of inspection with strict impartiality and according to the best of such inspector's ability. Any report or certificate made by the inspectors of election is prima facie evidence of the facts stated therein. The inspectors of election may appoint such persons to assist them in performing their duties as they determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery to the Corporation.</u>

Whenever this Article II requires one or more persons (including a record or beneficial owner of stock) to deliver a document or information to the Corporation or any officer, employee or agent thereof (including any notice, request, questionnaire, revocation, representation or other document or agreement), such document or information shall be in writing exclusively (and not in an electronic transmission) and shall be delivered exclusively by hand (including, without limitation, overnight courier service) or by certified or registered mail, return receipt requested, and the Corporation shall not be required to accept delivery of any document not in such written form or so delivered. For the avoidance of doubt, the Corporation expressly opts out of Section 116 of the DGCL with respect to the delivery of information and documents to the Corporation required by this Article II.

**Article III - Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Powers</u>.

Except as otherwise provided by the Certificate of Incorporation or the DGCL, the business and affairs of the Corporation shall be managed by or under the direction of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Number of Directors</u>.

Subject to the Certificate of Incorporation, the total number of directors constituting the Board shall be determined from time to time by resolution of the Board. No reduction of the authorized number of directors shall have the effect of removing any director before that director's term of office expires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Election, Qualification and Term of Office of Directors</u>.

Except as provided in Section 3.4 of these bylaws, and subject to the Certificate of Incorporation, each director, including a director elected to fill a vacancy or newly created directorship, shall hold office until the expiration of the term of the class, if any, for which elected and until such director's successor is elected and qualified or until such director's earlier death, resignation, disqualification or removal. Directors need not be stockholders. The Certificate of Incorporation or these bylaws may prescribe qualifications for directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Resignation and Vacancies</u>.

Any director may resign at any time upon notice given in writing or by electronic transmission to the Corporation. The resignation shall take effect at the time specified therein or upon the happening of an event specified therein, and if no time or event is specified, at the time of its receipt. When one or more directors so resigns and the resignation is effective at a future date or upon the happening of an event to occur on a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such

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resignation or resignations shall become effective, and each director so chosen shall hold office as provided in Section 3.3.

Unless otherwise provided in the Certificate of Incorporation or these bylaws, vacancies resulting from the death, resignation, disqualification or removal of any director, and newly created directorships resulting from any increase in the authorized number of directors shall be filled only by a majority of the directors then in office, although less than a quorum, or by a sole remaining director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Place of Meetings; Remote Meetings</u>.

The Board may hold meetings, both regular and special, either within or outside the State of Delaware.

Unless otherwise restricted by the Certificate of Incorporation or these bylaws, members of the Board, or any committee designated by the Board, may participate in a meeting of the Board, or any committee, by means of conference telephone, video conferencing or other communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting pursuant to this bylaw shall constitute presence in person at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Regular Meetings</u>.

Regular meetings of the Board may be held within or outside the State of Delaware and at such time and at such place as which has been designated by the Board. Notice of regular meetings need not be given if the date, times and places thereof are fixed by resolution of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Meetings; Notice</u>.

Special meetings of the Board for any purpose or purposes may be called at any time by the Chair of the Board, the Chief Executive Officer, the Secretary or a majority of the total number of directors constituting the Board.

Notice of the time and place of special meetings shall be:

&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)&nbsp;&nbsp;&nbsp;&nbsp;delivered personally by hand, by courier or by telephone;

&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)&nbsp;&nbsp;&nbsp;&nbsp;sent by United States first-class mail, postage prepaid;

&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)&nbsp;&nbsp;&nbsp;&nbsp;sent by facsimile or electronic mail; 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;sent by other means of electronic transmission,

directed to each director at that director's address, telephone number, facsimile number or electronic mail address, or other address for electronic transmission, as the case may be, as shown on the Corporation's records.

If the notice is (i) delivered personally by hand, by courier or by telephone, (ii) sent by facsimile or electronic mail, or (iii) sent by other means of electronic transmission, it shall be delivered or sent at least twenty-four (24) hours before the time of the holding of the meeting. If the notice is sent by U.S. mail, it shall be deposited in the U.S. mail at least four (4) days before the time of the holding of the meeting. The notice need not specify the place of the meeting (if the meeting is to be held at the Corporation's principal executive office) nor the purpose of the meeting.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Quorum</u>.

At all meetings of the Board, unless otherwise provided by the Certificate of Incorporation, a majority of the total number of directors shall constitute a quorum for the transaction of business. The vote of a majority of the directors present at any meeting at which a quorum is present shall be the act of the Board, except as may be otherwise specifically provided by statute, the Certificate of Incorporation or these bylaws. If a quorum is not present at any meeting of the Board, then the directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Board Action without a Meeting</u>.

Unless otherwise restricted by the Certificate of Incorporation or these bylaws, any action required or permitted to be taken at any meeting of the Board, or of any committee thereof, may be taken without a meeting if all members of the Board or committee, as the case may be, consent thereto in writing or by electronic transmission. After an action is taken, the consent or consents relating thereto shall be filed with the minutes of the proceedings of the Board, or the committee thereof, in the same paper or electronic form as the minutes are maintained. Such action by written consent or consent by electronic transmission shall have the same force and effect as a unanimous vote of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees and Compensation of Directors</u>.

Unless otherwise restricted by the Certificate of Incorporation or these bylaws, the Board shall have the authority to fix the compensation, including fees and reimbursement of expenses, of directors for services to the Corporation in any capacity.

**Article IV - Committees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Committees of Directors</u>.

The Board may designate one (1) or more committees, each committee to consist, of one (1) or more of the directors of the Corporation. The Board may designate one (1) or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board or in these bylaws, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation; but no such committee shall have the power or authority to (i) approve or adopt, or recommend to the stockholders, any action or matter expressly required by the DGCL to be submitted to stockholders for approval, or (ii) adopt, amend or repeal any bylaw of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Committee Minutes</u>.

Each committee shall keep regular minutes of its meetings and report the same to the Board when required.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Meetings and Actions of Committees</u>.

Meetings and actions of committees shall be governed by, and held and taken in accordance with, the provisions of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.5 (place of meetings; remote meetings);

&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.6 (regular meetings);

&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.7 (special meetings; notice);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.9 (Board action without a meeting); 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;(v)&nbsp;&nbsp;&nbsp;&nbsp;Section 7.13 (waiver of notice),

with such changes in the context of those bylaws as are necessary to substitute the committee and its members for the Board and its members. *However*:

&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)&nbsp;&nbsp;&nbsp;&nbsp;the time of regular meetings of committees may be determined either by resolution of the Board or by resolution of the committee;

&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)&nbsp;&nbsp;&nbsp;&nbsp;special meetings of committees may also be called by resolution of the Board or the chair of the applicable committee; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Board may adopt rules for the governance of any committee to override the provisions that would otherwise apply to the committee pursuant to this Section 4.3, *provided that* such rules do not violate the provisions of the Certificate of Incorporation or applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Subcommittees.</u>

Unless otherwise provided in the Certificate of Incorporation, these bylaws or the resolutions of the Board designating the committee, a committee may create one (1) or more subcommittees, each subcommittee to consist of one (1) or more members of the committee, and delegate to a subcommittee any or all of the powers and authority of the committee.

**Article V - Officers**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Officers</u>.

The officers of the Corporation shall include a Chief Executive Officer, and a Secretary. The Corporation may also have, at the discretion of the Board, a Chair of the Board, a Vice Chair of the Board, a Chief Financial Officer, a Treasurer, one (1) or more Vice Presidents, one (1) or more Assistant Vice Presidents, one (1) or more Assistant Treasurers, one (1) or more Assistant Secretaries, and any such other officers as may be appointed in accordance with the provisions of these bylaws. Any number of offices may be held by the same person. No officer need be a stockholder or director of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment of Officers</u>.

The Board shall appoint the officers of the Corporation, except such officers as may be appointed in accordance with the provisions of Section 5.3 of these bylaws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Subordinate Officers</u>.

The Board may appoint, or empower the Chief Executive Officer to appoint, such other officers and agents as the business of the Corporation may require. Each of such officers and agents shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the Board may from time to time determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Removal and Resignation of Officers</u>.

Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause, by the Board or, except in the case of an officer chosen by the Board, by any officer upon whom such power of removal may be conferred by the Board.

Any officer may resign at any time by giving written notice to the Corporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation under any contract to which the officer is a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies in Offices</u>.

Any vacancy occurring in any office of the Corporation shall be filled by the Board or as provided in Section 5.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Representation of Shares of Other Corporations</u>.

The Chair of the Board, the Chief Executive Officer of this Corporation, or any other person authorized by the Board or the Chief Executive Officer, is authorized to vote, represent and exercise on behalf of this Corporation all rights incident to any and all shares or voting securities of any other corporation or other person standing in the name of this Corporation. The authority granted herein may be exercised either by such person directly or by any other person authorized to do so by proxy or power of attorney duly executed by such person having the authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Authority and Duties of Officers</u>.

All officers of the Corporation shall respectively have such authority and perform such duties in the management of the business of the Corporation as may be provided herein or designated from time to time by the Board and, to the extent not so provided, as generally pertain to their respective offices, subject to the control of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Compensation.</u>

The compensation of the officers of the Corporation for their services as such shall be fixed from time to time by or at the direction of the Board. An officer of the Corporation shall not be prevented from receiving compensation by reason of the fact that he or she is also a director of the Corporation.

**Article VI - Records** 

A stock ledger consisting of one or more records in which the names of all of the Corporation's stockholders of record, the address and number of shares registered in the name of each such stockholder, and all issuances and transfers of stock of the corporation are recorded in accordance with Section 224 of

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the DGCL shall be administered by or on behalf of the Corporation. Any records administered by or on behalf of the Corporation in the regular course of its business, including its stock ledger, books of account, and minute books, may be kept on, or by means of, or be in the form of, any information storage device, or method, or one or more electronic networks or databases (including one or more distributed electronic networks or databases), *provided that* the records so kept can be converted into clearly legible paper form within a reasonable time and, with respect to the stock ledger, that the records so kept can (i) be used to prepare the list of stockholders specified in Sections 219 and 220 of the DGCL, (ii) record the information specified in Sections 156, 159, 217(a) and 218 of the DGCL, and (iii) record transfers of stock as governed by Article 8 of the Uniform Commercial Code as adopted in the State of Delaware.

**Article VII - General Matters**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Execution of Corporate Contracts and Instruments</u>.

The Board, except as otherwise provided in these bylaws, may authorize any officer or officers, or agent or agents, to enter into any contract or execute any instrument in the name of and on behalf of the Corporation; such authority may be general or confined to specific instances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Certificates</u>.

The shares of the Corporation shall be represented by certificates, *provided that* the Board by resolution may provide that some or all of the shares of any class or series of stock of the Corporation shall be uncertificated. Certificates for the shares of stock, if any, shall be in such form as is consistent with the Certificate of Incorporation and applicable law. Every holder of stock represented by a certificate shall be entitled to have a certificate signed by, or in the name of the Corporation by, any two officers authorized to sign stock certificates representing the number of shares registered in certificate form. The Chair or Vice Chair of the Board, Chief Executive Officer, Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Corporation shall be specifically authorized to sign stock certificates. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate has ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he or she were such officer, transfer agent or registrar at the date of issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Designation of Certificates.</u>

If the Corporation is authorized to issue more than one class of stock or more than one series of any class, then the powers, the designations, the preferences and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or on the back of the certificate that the Corporation shall issue to represent such class or series of stock (or, in the case of uncertificated shares, set forth in a notice provided pursuant to Section 151 of the DGCL); provided, however, that except as otherwise provided in Section 202 of the DGCL, in lieu of the foregoing requirements, there may be set forth on the face or back of the certificate that the Corporation shall issue to represent such class or series of stock (or, in the case of any uncertificated shares, included in the aforementioned notice) a statement that the Corporation will furnish without charge to each stockholder who so requests the powers, the designations, the preferences and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Lost Certificates</u>.

Except as provided in this Section 7.4, no new certificates for shares shall be issued to replace a previously issued certificate unless the latter is surrendered to the Corporation and cancelled at the same time. The Corporation may issue a new certificate of stock or uncertificated shares in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the Corporation may require the owner of the lost, stolen or destroyed certificate, or such owner's legal representative, to give the Corporation a bond sufficient to indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate or uncertificated shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Shares Without Certificates</u>

The Corporation may adopt a system of issuance, recordation and transfer of its shares of stock by electronic or other means not involving the issuance of certificates, provided the use of such system by the Corporation is permitted in accordance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction; Definitions</u>.

Unless the context requires otherwise, the general provisions, rules of construction and definitions in the DGCL shall govern the construction of these bylaws. Without limiting the generality of this provision, the singular number includes the plural and the plural number includes the singular.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends</u>.

The Board, subject to any restrictions contained in either (i) the DGCL or (ii) the Certificate of Incorporation, may declare and pay dividends upon the shares of its capital stock. Dividends may be paid in cash, in property or in shares of the Corporation's capital stock.

The Board may set apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve. Such purposes shall include but not be limited to equalizing dividends, repairing or maintaining any property of the Corporation, and meeting contingencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Fiscal Year</u>.

The fiscal year of the Corporation shall be fixed by resolution of the Board and may be changed by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Seal</u>.

The Corporation may adopt a corporate seal, which shall be adopted and which may be altered by the Board. The Corporation may use the corporate seal by causing it or a facsimile thereof to be impressed or affixed or in any other manner reproduced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer of Stock</u>.

Shares of the Corporation shall be transferable in the manner prescribed by law and in these bylaws. Shares of stock of the Corporation shall be transferred on the books of the Corporation only by the holder of record thereof or by such holder's attorney duly authorized in writing, upon surrender to the Corporation of the certificate or certificates representing such shares endorsed by the appropriate person or persons (or by delivery of duly executed instructions with respect to uncertificated shares), with such evidence of the authenticity of such endorsement or execution, transfer, authorization and other matters as

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the Corporation may reasonably require, and accompanied by all necessary stock transfer stamps. No transfer of stock shall be valid as against the Corporation for any purpose until it shall have been entered in the stock records of the Corporation by an entry showing the names of the persons from and to whom it was transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Transfer Agreements</u>.

The Corporation shall have power to enter into and perform any agreement with any number of stockholders of any one or more classes or series of stock of the Corporation to restrict the transfer of shares of stock of the Corporation of any one or more classes owned by such stockholders in any manner not prohibited by the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Registered Stockholders</u>.

The Corporation:

&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)&nbsp;&nbsp;&nbsp;&nbsp;shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner; 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of another person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Notice</u>.

Whenever notice is required to be given under any provision of the DGCL, the Certificate of Incorporation or these bylaws, a written waiver, signed by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before or after the time of the event for which notice is to be given, shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in any written waiver of notice or any waiver by electronic transmission unless so required by the Certificate of Incorporation or these bylaws.

**Article VIII - Notice** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Notice; Notice by Electronic Transmission</u>.

Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Corporation under any provisions of the DGCL, the Certificate of Incorporation, or these bylaws may be given in writing directed to the stockholder's mailing address (or by electronic transmission directed to the stockholder's electronic mail address, as applicable) as it appears on the records of the Corporation and shall be given (1) if mailed, when the notice is deposited in the U.S. mail, postage prepaid, (2) if delivered by courier service, the earlier of when the notice is received or left at such stockholder's address or (3) if given by electronic mail, when directed to such stockholder's electronic mail address unless the stockholder has notified the Corporation in writing or by electronic transmission of an objection to receiving notice by electronic mail.

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Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Corporation under any provision of the DGCL, the Certificate of Incorporation or these bylaws shall be effective if given by a form of electronic transmission consented to by the stockholder to whom the notice is given. Any such consent shall be revocable by the stockholder by written notice or electronic transmission to the Corporation. Notwithstanding the provisions of this paragraph, the Corporation may give a notice by electronic mail in accordance with the first paragraph of this section without obtaining the consent required by this paragraph.

Any notice given pursuant to the preceding paragraph shall be deemed given:

&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)&nbsp;&nbsp;&nbsp;&nbsp;if by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such posting and (B) the giving of such separate notice; 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;if by any other form of electronic transmission, when directed to the stockholder.

Notwithstanding the foregoing, a notice may not be given by an electronic transmission from and after the time that (a) the Corporation is unable to deliver by such electronic transmission two (2) consecutive notices given by the Corporation and (b) such inability becomes known to the Secretary or an Assistant Secretary of the Corporation or to the transfer agent, or other person responsible for the giving of notice, provided, however, the inadvertent failure to discover such inability shall not invalidate any meeting or other action.

An affidavit of the Secretary or an Assistant Secretary or of the transfer agent or other agent of the Corporation that the notice has been given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

**Article IX - Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification of Directors and Officers</u>.

The Corporation shall indemnify and hold harmless, to the fullest extent permitted by the DGCL as it presently exists or may hereafter be amended, any director or officer of the Corporation who was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a "<u>Proceeding</u>") by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director or officer of the Corporation or, while serving as a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership (a "<u>covered person</u>"), joint venture, trust, enterprise or non-profit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees, judgments, fines ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred by such person in connection with any such Proceeding. Notwithstanding the preceding sentence, except as otherwise provided in Section 9.4, the Corporation shall be required to indemnify a person in connection with a Proceeding initiated by such person only if the Proceeding was authorized in the specific case by the Board.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification of Others</u>.

The Corporation shall have the power to indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, any employee or agent of the Corporation who was or is made or is threatened to be made a party or is otherwise involved in any Proceeding by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was an employee or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust, enterprise or non-profit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses reasonably incurred by such person in connection with any such Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment of Expenses</u>.

The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including attorneys' fees) incurred by any covered person, and may pay the expenses incurred by any employee or agent of the Corporation, in defending any Proceeding in advance of its final disposition; provided, however, that such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking by the person to repay all amounts advanced if it should be ultimately determined that the person is not entitled to be indemnified under this Article IX or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination; Claim</u>.

If a claim for indemnification (following the final disposition of such Proceeding) under this Article IX is not paid in full within sixty (60) days, or a claim for advancement of expenses under this Article IX is not paid in full within thirty (30) days, after a written claim therefor has been received by the Corporation the claimant may thereafter (but not before) file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim to the fullest extent permitted by law. In any such action the Corporation shall have the burden of proving that the claimant was not entitled to the requested indemnification or payment of expenses under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Exclusivity of Rights</u>.

The rights conferred on any person by this Article IX shall not be exclusive of any other rights which such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, these bylaws, agreement, vote of stockholders or disinterested directors or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>.

The Corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust enterprise or non-profit entity against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify him or her against such liability under the provisions of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Indemnification</u>.

The Corporation's obligation, if any, to indemnify or advance expenses to any person who was or is serving at its request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, enterprise or non-profit entity shall be reduced by any amount such person may collect as

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indemnification or advancement of expenses from such other corporation, partnership, joint venture, trust, enterprise or non-profit enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Continuation of Indemnification</u>.

The rights to indemnification and to prepayment of expenses provided by, or granted pursuant to, this Article IX shall continue notwithstanding that the person has ceased to be a director or officer of the Corporation and shall inure to the benefit of the estate, heirs, executors, administrators, legatees and distributees of such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment or Repeal; Interpretation</u>.

The provisions of this Article IX shall constitute a contract between the Corporation, on the one hand, and, on the other hand, each individual who serves or has served as a director or officer of the Corporation (whether before or after the adoption of these bylaws), in consideration of such person's performance of such services, and pursuant to this Article IX the Corporation intends to be legally bound to each such current or former director or officer of the Corporation. With respect to current and former directors and officers of the Corporation, the rights conferred under this Article IX are present contractual rights and such rights are fully vested, and shall be deemed to have vested fully, immediately upon adoption of theses bylaws. With respect to any directors or officers of the Corporation who commence service following adoption of these bylaws, the rights conferred under this provision shall be present contractual rights and such rights shall fully vest, and be deemed to have vested fully, immediately upon such director or officer commencing service as a director or officer of the Corporation. Any repeal or modification of the foregoing provisions of this Article IX shall not adversely affect any right or protection (i) hereunder of any person in respect of any act or omission occurring prior to the time of such repeal or modification or (ii) under any agreement providing for indemnification or advancement of expenses to an officer or director of the Corporation in effect prior to the time of such repeal or modification.

Any reference to an officer of the Corporation in this Article IX shall be deemed to refer exclusively to the Chief Executive Officer, and Secretary, or other officer of the Corporation appointed by (x) the Board pursuant to Article V of these bylaws or (y) an officer to whom the Board has delegated the power to appoint officers pursuant to Article V of these bylaws, and any reference to an officer of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be deemed to refer exclusively to an officer appointed by the board of directors (or equivalent governing body) of such other entity pursuant to the certificate of incorporation and bylaws (or equivalent organizational documents) of such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. The fact that any person who is or was an employee of the Corporation or an employee of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise has been given or has used the title of "Vice President" or any other title that could be construed to suggest or imply that such person is or may be an officer of the Corporation or of such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall not result in such person being constituted as, or being deemed to be, an officer of the Corporation or of such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise for purposes of this Article IX.

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**Article X - Amendments**

The Board is expressly empowered to adopt, amend or repeal the bylaws of the Corporation. The stockholders also shall have power to adopt, amend or repeal the bylaws of the Corporation; provided, however, that such action by stockholders shall require, in addition to any other vote required by the Certificate of Incorporation or applicable law, the affirmative vote of the holders of at least two-thirds of the voting power of all of the then outstanding shares of voting stock of the Corporation entitled to vote generally in an election of directors, voting together as a single class.

**Article XI - Forum Selection**

Unless the Corporation consents in writing to the selection of an alternative forum, (a) the Court of Chancery (the "<u>Chancery Court</u>") of the State of Delaware (or, in the event that the Chancery Court does not have jurisdiction, the federal district court for the District of Delaware or other state courts of the State of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any derivative action, suit or proceeding brought on behalf of the Corporation, (ii) any action, suit or proceeding asserting a claim of breach of a fiduciary duty owed by any director, officer or stockholder of the Corporation to the Corporation or to the Corporation's stockholders, (iii) any action, suit or proceeding arising pursuant to any provision of the DGCL or the Certificate of Incorporation or these bylaws (as either may be amended from time to time) or (iv) any action, suit or proceeding asserting a claim against the Corporation governed by the internal affairs doctrine; and (b) subject to the preceding provisions of this Article XI, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause or causes of action arising under the Securities Act of 1933, as amended, including all causes of action asserted against any defendant to such complaint. If any action the subject matter of which is within the scope of clause (a) of the immediately preceding sentence is filed in a court other than the courts in the State of Delaware (a "<u>Foreign Action</u>") in the name of any stockholder, such stockholder shall be deemed to have consented to (x) the personal jurisdiction of the state and federal courts in the State of Delaware in connection with any action brought in any such court to enforce the provisions of clause (a) of the immediately preceding sentence and (y) having service of process made upon such stockholder in any such action by service upon such stockholder's counsel in the Foreign Action as agent for such stockholder.

If any provision or provisions of this Article XI shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever, (a) the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article XI (including, without limitation, each portion of any paragraph of this Article XI containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) the application of such

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provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.

**Article XII - Definitions**

As used in these bylaws, unless the context otherwise requires, the following terms shall have the following meanings:

An "<u>electronic transmission</u>" means any form of communication, not directly involving the physical transmission of paper, including the use of, or participation in, one or more electronic networks or databases (including one or more distributed electronic networks or databases), that creates a record that may be retained, retrieved and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process.

An "<u>electronic mail</u>" means an electronic transmission directed to a unique electronic mail address (which electronic mail shall be deemed to include any files attached thereto and any information hyperlinked to a website if such electronic mail includes the contact information of an officer, employee or agent of the Corporation who is available to assist with accessing such files and information).

An "<u>electronic mail address</u>" means a destination, commonly expressed as a string of characters, consisting of a unique user name or mailbox (commonly referred to as the "local part" of the address) and a reference to an internet domain (commonly referred to as the "domain part" of the address), whether or not displayed, to which electronic mail can be sent or delivered.

The term "<u>person</u>" means any individual, general partnership, limited partnership, limited liability company, corporation, trust, business trust, joint stock company, joint venture, unincorporated association, cooperative or association or any other legal entity or organization of whatever nature, and shall include any successor (by merger or otherwise) of such entity.

## Exhibit 4.1

**Exhibit 4.1**

![lime_exhibit41x1x6-12x26001.jpg](lime_exhibit41x1x6-12x26001.jpg)slide1

THIS CERTIFIES THAT is the owner of C U S I P DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Neutron Holdings, Inc. (hereinafter called the "Company"), transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Certificate of Incorporation, as amended, and the By laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Witness the facsimile signatures of the Company's duly authorized officers. COMMON STOCK PAR VALUE $0.0001 COMMON STOCK SEE REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares . Neutron Holdings, Inc. INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE FACSIMILE SIGNATURE TO COME FACSIMILE SIGNATURE TO COME Chief Executive Officer Secretary By AUTHORIZED SIGNATURE 64125S 10 4 DD - MMM - Y Y Y Y \* \* 0 0 0 0 0 0 \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* 0 0 0 0 0 0 \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* 0 0 0 0 0 0 \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* 0 0 0 0 0 0 \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* 0 0 0 0 0 0 \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Alexander David Sample \*\*\*\* Mr. Sample \*\*\*\* Mr. Sample \*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*S hares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\* Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000 \*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*0000 00\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*00 0000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\* 000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\* 000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\* 000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\* 000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\*000000\*\*Shares\*\*\*\* \*\* ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO\* \* MR. SAMPLE & MRS. SAMPLE & MR. A PLE & MRS. SAMPLE Z Q\|CERT#\|COY\|CLS\|R G S TRY\|ACCT#\|TR AN ST Y PE\|RUN#\|TRANS# ZQ00000000 Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction Nu m /No. 123456 De nom . 123456 Total 1234567 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 PO Box 43004, Providence RI 02940-3004 CU S IP/IDENTIFIER XXX XXX XX X Holder ID XX XX XX XXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com

------

**Exhibit 4.1**

![lime_c01xr01x06-12x26001.jpg](lime_c01xr01x06-12x26001.jpg)

slide1

The IRS requires that the named transfer agent ("we") report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are covered by the legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have defaulted to the first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period specified by state law, your property may become subject to state unclaimed property laws and transferred to the appropriate state. . NEUTRON HOLDINGS, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS, HER, ITS, OR THEIR LEGAL REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. For US purposes the following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common U N IF GIFT MIN ACT -.............................................Custodian................................................. (Cu s t) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act......................................................... (State) JT TEN - as joint tenants with right of survivorship UN IF T RF MIN ACT -.............................................Custodian (until age.................................) and not as tenants in common (Cu s t) ..............................under Uniform Transfers to Minors Act.................... (Minor) (State) Additional abbreviations may also be used though not in the above list. For value received, ____________________________ hereby sell, assign and transfer unto _______________________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________________ _________________________________________________________________________________________________________________________ Shares ________________________________________________________________________________________________________________________ Attorney Dated: ________________________________________ 20_________________ Signature: _________________________________________________________ Signature: _________________________________________________________ Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint to transfer the said stock on the books of the within-named Company with full power of substitution in the premises. Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever.

## Exhibit 4.3

**Exhibit 4.3**

**CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. [\*\*\*] INDICATES THAT INFORMATION HAS BEEN REDACTED.**

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME,), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE LENDER AS THE SUBORDINATED LENDER AND NEUTRON HOLDINGS, INC.

**NOTE PURCHASE AGREEMENT**

THIS NOTE PURCHASE AGREEMENT (this "Agreement") is made as of May 7, 2020, by and among **Neutron Holdings, Inc.,** a Delaware corporation (the "Company"), and the lenders named on the Schedule of Lenders attached hereto (the "Schedule of Lenders"). Capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

**WHEREAS,** each Lender intends to provide certain Consideration to the Company as described for each Lender on the Schedule of Lenders;

**WHEREAS,** the parties wish to provide for the sale and issuance of such Notes in return for the provision by the Lenders of the Consideration to the Company; and

**WHEREAS,** the parties intend for the Company to issue in return for the Consideration one or more Notes convertible into shares of the Company's Equity Securities and secured by substantially all asset of the Company pursuant to the Security Documents.

**NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Act</u>" means the Securities Act of 1933, as amended.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Affiliate</u>" means at any time, and with respect to any Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any other Person that beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests of such first Person or any other Person of which such first Person beneficially owns or holds, at such time, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Unless the context otherwise clearly requires, any reference herein to an "<u>Affiliate</u>" is a reference to an Affiliate of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Agreement</u>" means this Note Purchase Agreement as it may be amended, supplemented, replaced or restated 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Applicable Law</u>" means (a) any statute, law (including common and civil law), rule, regulation or by-law, (b) any judgement, order, writ, injunction, decision, ruling, decree or award, (c)

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any regulatory policy, practice, guideline or directive, or (d) any right or other approval of any Governmental Authority, in each case, binding on or affecting a Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Asset Disposition</u>" means, with respect to any Person, any transaction in which such Person sells, conveys, assigns, transfers, leases (as lessor) or otherwise disposes of any of its Assets, including any Capital Stock of any of its Subsidiaries or any of its other Assets, present or future, and for certainty, does not include any loss due to a casualty or condemnation event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Assets</u>" of a Person means all present and future property, rights and assets, real and personal, movable and immovable, tangible and intangible, of such Person of whatever nature and wheresoever situate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Banking Day</u>" means a day, other than a Saturday or a Sunday, on which banks are open for business in San Francisco, California and are not required by Applicable Law to remain closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board</u>" means the board of directors of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Common Stock</u>" means shares of the Company's common stock, par value $0.0001 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Business</u>" means micromobility, including, without limitation, electronic scooter and bike rentals and related micromobility businesses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"Bylaws" means the Amended and Restated Bylaws of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Capital Lease Obligations</u>" shall mean, as to any Person, the obligations of such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) immovable (real) property or movable (personal) property, which obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person under GAAP and, for purposes of this Agreement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. In the event of an accounting change effective after the date hereof requiring all leases to be capitalized, only those leases (whether or not in existence on the Closing Date) that would constitute Capitalized Lease Obligations in conformity with GAAP on the Closing Date shall be considered leases giving rise to Capital Lease Obligations, and all calculations and deliverables under this Agreement or any other Note Document shall be made or delivered, as applicable, in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Capital Stock</u>" means any and all shares (including any preferred shares), interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing, whether voting or non-voting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Closing Date</u>" means the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, as amended 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;(p)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Collateral</u>" means all of the Assets of the Obligors intended to be subject to a Lien in favor of the Lenders in the manner set forth in Section 6.4; provided that in no event shall the Collateral include any 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;(q)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Consideration</u>" shall mean the amount of money paid by each Lender pursuant to this Agreement as shown on the Schedule of Lenders.

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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;(r)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Control</u>" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Control Agreement</u>" means an agreement, in form and substance reasonably satisfactory to the Lenders, executed and delivered by an Obligor and the applicable securities intermediary or bank, which agreement is sufficient to give Lenders "control" over the subject Securities Account or Deposit Account or Investment Property, each as defined in and under the Uniform Commercial Code of the applicable jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Price</u>" shall mean the quotient of (1) the Valuation Cap divided by (2) the fully-diluted capitalization of the Company as of 90 days following the date hereof (assuming conversion, exercise, and exchange of all convertible, exercisable, and exchangeable capital stock of the Company, including shares available for issuance under any equity incentive or similar plan and the shares to be issued upon conversion of the Notes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Shares</u>" shall, for purposes of determining the type of Equity Securities issuable upon conversion of the Notes, mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;if the Notes are converted to equity pursuant to Section 2.2(a) below, Series 3 Preferred Stock of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if the Notes are converted to equity pursuant to Section 2.2(b) below, shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate Transaction</u>" shall mean any transaction defined as a "Deemed Liquidation Event" in the Company's current Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Debt</u>" means (in each case, whether such indebtedness is with full or limited recourse):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor for borrowed money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor evidenced by a bond, debenture, note or other similar instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor to pay the deferred purchase price of property or services, including earn-outs, balances of sale and holdbacks relating to an acquisition, except a trade account payable that arises in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Capital Lease Obligations of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor to reimburse any other Person in respect of amounts drawn or drawable under any letter of credit or other guarantee, including any corporate guarantee, or under any bankers' or trade acceptance issued or accepted by such other Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;all mandatory obligations of any Obligor to purchase, redeem, retire, decrease or otherwise make any payment in respect of any Capital Stock of any Obligor or any other Person prior to the Maturity Date, valued, in the case of redeemable preferred stock, at the greater of its voluntary

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liquidation preference plus accrued and unpaid dividends, excluding however obligations that are subject to a subordination agreement in form and substance reasonably acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any Obligor to purchase securities or other property that arises out of or in connection with the sale of the same or substantially similar securities or property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;any Debt of others secured by a Lien on any Asset of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;any Debt of others guaranteed by any Obligor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;all net obligations and liabilities of any Obligor in respect of "Specified Transactions" (as such term is defined in the 2002 Multicurrency Cross Border Master Agreement published by the International Swaps and Derivatives Association, Inc.) determined on a mark to market basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Default</u>" means any event or circumstance which constitutes an Event of Default or which, with the giving of notice or lapse of time or both would, unless cured or waived, constitute an Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Dollars</u>" and the symbol "$" each means the lawful money for the time being of the United States of America in same day immediately available funds or, if such funds are not available, the form of money of the United States of America which is customarily used in the settlement of international banking transactions on that day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Equity Securities</u>" shall mean the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA Affiliate</u>" means any trade or business (whether or not incorporated) under common control with the Company within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code or Section 302 of ERISA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA Event</u>" means (a) a Reportable Event with respect to a Pension Plan; (b) the failure by the Company or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules or the filing of an application for the waiver of the minimum funding standards under the Pension Funding Rules; (c) the incurrence by the Company or any ERISA Affiliate of any liability pursuant to Section 4063 or 4064 of ERISA or a cessation of operations with respect to a Pension Plan within the meaning of Section 4062(e) of ERISA; (d) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization or insolvent (within the meaning of Title IV of ERISA); (e) the filing of a notice of intent to terminate a Pension Plan under, or the treatment of a Pension Plan amendment as a termination under, Section 4041 of ERISA; (f) the institution by the PBGC of proceedings to terminate a Pension Plan; (g) any event or condition that constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (h) the determination that any Pension Plan is in at-risk status (within the meaning of Section 430 of the Code or Section 303 of ERISA) or that a Multiemployer Plan is

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in endangered or critical status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (i) the imposition or incurrence of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Company or any ERISA Affiliate; (j) the engagement by the Company or any ERISA Affiliate in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; (k) the imposition of a lien upon the Company pursuant to Section 430(k) of the Code or Section 303(k) of ERISA; or (l) the making of an amendment to a Pension Plan that could result in the posting of bond or security under Section 436(f)(1) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Event of Default</u>" means any of the events specified in Section 8.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Excluded Assets</u>" means (A) any Exempt Accounts, (B) any contracts, licenses or agreements in which any Obligor has or hereafter acquires any right, title or interest, if and to the extent such Obligor's right, title or interest in such contract, license or agreement is subject to a contractual provision or other restriction on assignment (in each case, not entered into in contemplation of this Agreement) such that the creation of a security interest in the right, title or interest of such Obligor therein would be prohibited or would, in and of itself, cause or result in a default thereunder resulting in termination of such contract, license or agreement or enabling another Person party to such contract, license or agreement to enforce any remedy with respect thereto; provided that the foregoing exclusions shall not apply if (i) such contractual provision or other restriction on assignment has been waived or such other Person has otherwise consented to the creation hereunder of a security interest in such contract, license or agreement, or (ii) such contractual provision or other restriction on assignment would be rendered ineffective pursuant to the Uniform Commercial Code, as applicable and as then in effect in any relevant jurisdiction, or any other applicable law (including the Bankruptcy Code); provided further that immediately upon the ineffectiveness, lapse or termination of any such contractual provision or other restriction on assignment, the applicable Obligor shall be deemed to have automatically granted a security interest in, all its rights, title and interests in and to such contract, license or agreement as if such contractual provision or other restriction on assignment had never been in effect, (C) any intent-to-use United States trademark applications for which an amendment to allege use or statement of use has not been filed or examined and accepted by the United States Patent and Trademark Office; provided, that upon such filing and acceptance, the applicable Obligor shall be deemed to have automatically granted a security interest in such intent-to-use applications and such intent-to-use applications shall be included in Collateral, (D) assets as to which it is determined by the Required Lenders in their reasonable discretion but in consultation with the Company that the burden and cost of perfecting a security interest therein outweighs the benefit to the Lenders of the security to be afforded thereby, (E) motor vehicles and other assets subject to certificates of title, and (F) more than sixty-six percent (65%) of the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Obligor of any Foreign Subsidiary which is not a Material Subsidiary which shares entitle the holder thereof to vote for directors or any other matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Exempt Accounts</u>" means, collectively, (1) payroll accounts, (2) employee benefit accounts, (3) trust accounts, (4) escrow accounts, (5) tax accounts (including, without limitation, sales tax accounts), (6) accounts maintained solely in trust for the benefit of third parties and fiduciary purposes, (7) zero balance or swept accounts, (8) cash collateral accounts and restricted accounts containing security deposits or (9) all Existing Accounts; provided, however, that under no circumstances shall the balance at any time in any such Exempt Account or the aggregate balance across all such Exempt Accounts exceed $10,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Existing Accounts</u>" means the following accounts: (1) that certain JPMorgan Chase account ending [\*\*\*], (2) that certain JPMorgan Chase account ending [\*\*\*], (3) that certain Citibank account number ending [\*\*\*], (4) that certain Citibank account number ending [\*\*\*] and any replacement or successor accounts.

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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;(hh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fiscal Year</u>" means the fiscal year of the Company ending on December 31 of each calendar year.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Foreign Plan</u>" means any employee pension benefit plan, program, policy, arrangement or agreement maintained or contributed to by the Company or any Subsidiary with respect to employees employed outside the United States (other than any governmental arrangement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Foreign Subsidiary</u>" means any Subsidiary that is a "controlled foreign corporation" under Section 957 of the Code, such that, in the case of any such Subsidiary of the Obligations of a Lien on the Assets of such Subsidiary to secure the Obligations would result in material tax liability to the Company or its direct or indirect owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fundamental Representations</u>" means, the representations and warranties made by the Company in Section 4.1, Section 4.2, Section 4.8, Section 4.9, Section 4.17, Section 4.18(a), and Section 4.24.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>GAAP</u>" means generally accepted accounting principles, conventions, rules and procedures in the United States set forth in the opinions and pronouncements of the accounting principles board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or any successor organization) that are applicable to the circumstances as of the date of determination, consistently applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Governmental Authority</u>" means any nation or government, any state, province or other political subdivision thereof, and any agency, branch of government, department exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, whether domestic or foreign.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Guarantee</u>" means a guarantee provided by the Guarantors to the Lenders pursuant to Section 6.4(b) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Guarantors</u>" means all Material Subsidiaries of the Company and any Person who is required to become a Guarantor in accordance with Section 6.1(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Initial Public Offering</u>" or "<u>IPO</u>" shall mean the closing of the issuance and sale of shares of Equity Securities of the Company in the Company's first underwritten public offering pursuant to an effective registration statement under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Insolvency Proceeding</u>" has the meaning specified in Section 8.1(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Intellectual Property</u>" shall mean any intellectual or intangible property (whether owned or licensed) including, without limitation, trademarks, trademark registrations and applications, service marks, service mark registrations and applications, trade names, trade name registrations and applications, corporate names and fictitious names, copyrights, copyright registrations and applications, works of authorship, patents, patent applications, industrial designs, industrial design registrations and applications, integrated circuit topographies, integrated circuit topographies applications and registrations, design rights, inventions, trade secrets, data, technical information, designs, plans, specifications, designs, formulas, processes, patterns, compilations, devices, techniques, mask works, mask work registrations and applications, methods, shop rights, know-how, show-how, and other business or technical confidential or proprietary information in each case whether or not such rights are patentable, copyrightable, or registerable; software and computer hardware programs and systems, source code, object code, databases, and documentation relating to the foregoing; all domain names, internet addresses, internet sites and social

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media including, without limitation, all related accounts, names and content; and other proprietary information owned, controlled, created, under development or used by or on behalf of any Person in whole or in part and whether or not registerable or registered, and any registrations or applications for the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of the date hereof, by and among the Lenders, the Senior Lender and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt)&nbsp;&nbsp;&nbsp;&nbsp;"<u>IRS</u>" means the Internal Revenue Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Investors' Rights Agreement</u>" means the Investors' Rights Agreement by and among the Company and certain other investors party thereto of even date herewith, as amended 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;(vv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Investors</u>" means the investors party to the Note and Warrant Purchase Agreement, dated as of the date hereof, by among the Company and such investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Investor Subordination Agreement</u>" means the Subordination Agreement dated as of the date hereof (as may be amended, restated, supplemented or otherwise modified from time to time), among the Lenders as the senior lenders, the Junior Investors as subordinated lenders and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Junior Note Purchase Agreement</u>" means the Note and Warrant Purchase Agreement dated as of the date hereof (as may be amended, restated, supplemented or otherwise modified from time to time), among the Company and the Junior Investors as lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Junior Notes</u>" means the Convertible Secured Promissory Notes issued by the Company to the Junior Investors pursuant to the Junior Note 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;(zz)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Key Employees</u>" means any executive-level employee (including division director and vice president-level positions) as well as any employee or consultant who either alone or in concert with others develops, invents, programs or designs any Intellectual Property of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Law</u>" means all applicable provisions of statutes, ordinances, decrees, orders in council, rules, regulations, treaties and all applicable determinations, rulings, orders and decrees of Governmental Authorities and 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;(bbb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Lenders</u>" means Uber Technologies, Inc. and each other lender that may become a party from time to time hereto pursuant to an assignment in accordance with Section 9.1 and their respective successors and assigns and "<u>Lender</u>" means any one of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Lien</u>" means a mortgage, prior claim, pledge, privilege, lien, charge or other encumbrance in the nature of a security interest in any Assets or a pledge or hypothecation thereof or any assignment by way of security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ddd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Adverse Effect</u>" means a material adverse change in or effect on, either individually or in the aggregate, the business, Assets, liabilities, financial position or operating results of the Obligors, taken as a whole, or which adversely affects (i) the ability of any Obligor to perform any of its payment obligations under or pursuant to any of the Note Documents in accordance with their respective terms, (ii) the validity or enforceability of any of the Note Documents (iii) or the priority ranking of any

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Lien granted to the Lenders under the Security Documents (other than as a result by the failure of Lenders to make or maintain any required filing or maintain possession of possessory Collateral).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Contracts</u>" means the contracts entered into by or assigned to any Obligor and any other contract to which any Obligor is a party that, if terminated and not replaced, would reasonably be expected to have a Material Adverse Effect, as amended, supplemented, replaced or restated 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;(fff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Intellectual Property</u>" means all Intellectual Property and license or sublicense agreements or other agreements with respect to rights in Intellectual Property of the Company or any of its Subsidiaries, that are material to the condition (financial or otherwise), business or operations of the Company and its Subsidiaries on a consolidated basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ggg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Subsidiary</u>" means any Foreign Subsidiary (a) that owns assets that represent more than 5% of the consolidated assets of the Company and its Subsidiaries or (b) has gross revenues that represent more than 5% of the consolidated gross revenues of the Company's consolidated gross revenues during any Fiscal Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hhh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Maturity Date</u>" shall be as set forth in each Note (as defined 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;(iii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Multiemployer Plan</u>" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate makes or is obligated to make contributions, during the preceding five plan years has made or been obligated to make contributions, or has any liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jjj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Multiple Employer Plan</u>" means a Plan with respect to which the Company or any ERISA Affiliate is a contributing sponsor, and that has two or more contributing sponsors at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kkk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Note Documents</u>" means, collectively, this Agreement, the Notes, the Intercreditor Agreement, the Guarantees, each Security Document and all other consents, documents, instruments and agreements executed or delivered by the Obligors or any other Person in connection directly or indirectly with this Agreement or otherwise referred to or contemplated under or by this Agreement or any such documents, instruments or agreements, as the same may be amended, supplemented or restated 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;(lll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Notes</u>" shall mean the one or more convertible secured promissory notes issued to each Lender pursuant to Section 2.1 below, the form of which is attached hereto as Exhibit A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mmm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Obligations</u>" means all obligations, indebtedness and liabilities of the Obligors to the Lenders thereof under or in connection with (i) this Agreement, the Notes or any other Note Documents, including all obligations, indebtedness and liabilities under the Notes and (ii) any Post Petition Interest, whether or not such Post Petition Interest is allowed as a claim in such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nnn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Obligors</u>" means collectively the Company and the Guarantors, and "<u>Obligor</u>" means any one of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ooo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>OFAC</u>" means The Office of Foreign Assets Control of the U.S. Department of the Treasury.

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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;(ppp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>PBGC</u>" means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qqq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Act</u>" means the Pension Protection Act of 2006.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rrr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Funding Rules</u>" means the rules of the Code and ERISA regarding minimum funding standards and minimum required contributions (including any installment payment thereof) to Pension Plans and Multiemployer Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(sss)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Pension Plan</u>" means any employee pension benefit plan (including a Multiple Employer Plan, but excluding a Multiemployer Plan) that is maintained or is contributed to by the Company or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ttt)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Permitted Dispositions</u>" means (i) the disposition of inventory in the ordinary course of business, (ii) the disposition of worn-out, surplus or obsolete equipment that is, in the reasonable judgment of the Obligors, no longer economically practicable to maintain or useful in the ordinary course of business, (iii) sales and issuance of the Capital Stock of the Company, (iv) the use of cash and cash equivalents in the ordinary course of business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement or the other Note Documents, (iv) leases, subleases and licenses in the ordinary course of business, (v) Permitted Liens and investments and acquisitions, (vi) dispositions of equipment to the extent such property is exchanged for credit against the purchase price or similar replacement property, (vii) dissolution or winding down of Subsidiaries that are not Obligors so long as the assets of such Subsidiary are transferred to the Company or another Subsidiary; (viii) dispositions from and after the Closing Date of non-core assets or assets not necessary or useful in the business of the Company or any Subsidiary (including real property) acquired in connection with any acquisition or investment, (ix) retail sales of new scooters; (x) sales used or decommissioned scooters in the ordinary course of business; and (xi) dispositions of assets not otherwise permitted hereunder not to exceed $5,500,000 in the aggregate in any fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uuu)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Permitted Liens</u>" means, as at any time, any one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;any Lien for taxes, assessments or other governmental charges or levies not yet due or, if due, the validity of which is being contested diligently and in good faith by or on behalf of an Obligor by proper legal proceedings, provided the action to enforce the same has not proceeded to final non-appealable judgment and adequate provision has been made for the payment thereof in accordance with GAAP and in a manner acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;any Lien of any judgment rendered or claim filed against an Obligor, which such Obligor or others on its behalf shall be contesting diligently and in good faith by proper legal proceedings, provided the action to enforce the same has not proceeded to final non-appealable judgment and adequate provision has been made for the payment thereof in accordance with GAAP and in a manner acceptable to the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;the pledges or deposits of cash or securities made pursuant to Laws relating to workmen's compensation, employment insurance, social security or similar Laws, or deposits of cash made in good faith in connection with offers, tenders, leases or contracts (excluding, however, the

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borrowing of money or the repayment of money borrowed) and deposits of cash or securities in order to secure, or in lieu of, appeal, surety or custom bonds or bonds required in respect of judicial proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;undetermined or inchoate Liens arising or potentially arising under statutory provisions which have not at the time been filed or registered in accordance with Applicable Law or of which written notice has not been duly given in accordance with Applicable Law or which, although filed or registered, relate to obligations not due or delinquent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the rights reserved to or vested in municipalities or governmental or other public authorities or agencies by statutory provisions or by the terms of leases, licenses, franchises, grants or permits which affect any land, to terminate any such leases, licenses, franchises, grants or permits or to require annual or other payments as a condition to the continuance thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;securities to public utilities or Governmental Authorities when required by the utility or Governmental Authority in connection with the supply of services or utilities to an Obligor in the operation of its business, and securities granted as part of any refundings or renewals thereof provided the security is restricted to the same collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Debt permitted under Section 6.2(a)(viii) and any Lien granted as part of any refunding or renewal of the outstanding amount secured by such Debt, provided such Lien is restricted to the same collateral and the obligations of any Obligor under such Debt are permitted under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;any conditional sales agreement or other title retention agreement (including any capital lease) with respect to Assets of an Obligor acquired after the date of this Agreement provided the obligations of any Obligor under such conditional sales agreement or other title retention agreement are permitted under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;the Liens granted to the Lenders under the Security Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Debt permitted pursuant to Section 6.2(a)(vii);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real property and leases, subleases and licenses of personal property in each case in the ordinary course of business, if the leases, subleases, licenses and sublicenses do not prohibit granting the Lenders a security interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of other financial institutions arising in connection with deposit and/or securities accounts held at such institutions, provided that, to the extent required under the Note Documents and subject to the Intercreditor Agreement, the Lenders has a perfected security interest in the amount held in such deposit and/or securities account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Sections 8.1(i) (*Judgment*) or 8.1(l) (*Seizure; Attachment*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Subordinated Debt or the Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;pledges and deposits securing corporate credit cards and letters of credit not to exceed the aggregate maximum amount of $11,000,000 (without duplication of the threshold amount provided for in the definition of Exempt Accounts);

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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;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a lessor, sublessor, licensor or sublicensor under any lease or license not prohibited by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from precautionary uniform commercial code financing statements filed under any lease permitted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii)&nbsp;&nbsp;&nbsp;&nbsp;licenses, sublicenses, leases or subleases granted to third parties in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix)&nbsp;&nbsp;&nbsp;&nbsp;easements, rights of way, restrictions, minor defects or irregularities in title and other similar Liens not interfering in any material respect with the ordinary conduct of the business of any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)&nbsp;&nbsp;&nbsp;&nbsp;Liens on any earnest money deposits of cash or cash equivalents made in good faith in connection with any letter of intent or purchase agreement with respect to an acquisition or other investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising in the ordinary course of business (i) in favor of suppliers/carriers, warehousemen, landlords, mechanics and materialmen, and other similar Liens imposed by Law and (ii) in connection with surety bonds, bids, performance bonds and similar 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;&nbsp;&nbsp;&nbsp;&nbsp;(xxii)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing indebtedness represented by financed insurance premiums in the ordinary course of business and consistent with past practice, provided that such Liens do not extend to any property or assets other than the corresponding insurance policies being financed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiii)&nbsp;&nbsp;&nbsp;&nbsp;Other Liens not otherwise permitted hereunder securing Debt not to exceed $550,000 at any time outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vvv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Person</u>" means any legal or natural person, corporation, company, firm, joint venture, partnership, whether general, limited or undeclared, trust, association, unincorporated organization, Governmental Authority or other entity of whatever nature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(www)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means any employee benefit plan within the meaning of Section 3(3) of ERISA, maintained for employees of the Company or any Subsidiary, or any such plan to which the Company or any Subsidiary is required to contribute on behalf of any of its employees or with respect to which the Company or any Subsidiary has any liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxx)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Post Petition Interest</u>" means any interest or expenses accruing or arising after the commencement of any Insolvency Proceeding with respect to any Obligor (whether or not such interest or expenses are allowed or allowable as a claim in whole or in part in such case).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yyy)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zzz)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Required Lenders</u>" means the one or more Lenders holding a majority of the aggregate principal amount of Notes issued under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaaa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restated Certificate</u>" means the Company's Amended and Restated Certificate of Incorporation, as amended and/or restated 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;(bbbb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ROFR Agreement</u>" means the Right of First Refusal and Co-Sale Agreement of even date herewith among the Company and certain other stockholders of the Company party thereto of even date herewith, as amended 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;(cccc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Sanctioned Entities</u>" means (i) a country or a government of a country, (ii) an agency of the government of a country, (iii) an organization directly or indirectly controlled by a country or its government, (iv) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and enforced by OFAC or other relevant sanctions authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dddd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Sanctioned Person</u>" means a Person named on the list of Specially Designated Nationals maintained by OFAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eeee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Security Agreement</u>" means the General Security Agreement dated as of the date hereof between the Obligors and the Lenders, as amended 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;(ffff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Security Documents</u>" means collectively all present and future documents, agreements and instruments pursuant to which an Obligor grants a Lien to or for the benefit of the Lenders, alone or together with any other Person, in any of its Assets securing all or any part of the Obligations, including the Security Agreement, any Control Agreements and intellectual property security agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gggg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Debt</u>" means the indebtedness and other obligations of the Company under the Senior Credit Agreement and the other Loan Documents (as defined in the Senior Credit Agreement) and any refinancing(s) thereof; *provided that* the aggregate principal amount of such refinancing Debt shall not exceed the outstanding aggregate principal amount of the Senior Debt 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;&nbsp;&nbsp;&nbsp;&nbsp;(hhhh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Lender</u>" means Bank of Montreal as the lender under the Senior Credit Agreement or, to the extent the Senior Debt is refinanced, the lender for such refinanced Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iiii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Senior Credit Agreement</u>" means the Credit Agreement, dated as of March 13, 2020 (as may be amended, restated, supplemented or otherwise modified from time to time) between the Company as borrower and the Senior Lender or, to the extent the Senior Debt is refinanced, any other credit agreement or similar agreement evidencing the refinanced Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jjjj)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Stock Plan</u>" means the Company's equity incentive plan duly adopted by the Board and approved by the Company stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kkkk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Solvent</u>" means as to any Person, such Person (a) owns Assets whose fair salable value (as defined below) is greater than the amount required to pay all of its debts as they become matured; (b) owns Assets whose present fair salable value (as defined below) is greater than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; (d) is not "<u>insolvent</u>" within the meaning of Section 101(32) of the Bankruptcy Code; and (e) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any Note Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. "<u>Fair salable value</u>" means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.

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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;(llll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subordinated Debt</u>" means indebtedness incurred by the Company and/or the Obligors which is validly and effectively subordinated (and any Liens securing which is validly and effectively subordinated in priority to the Liens pursuant to the Security Documents) in right of payment to the payment in full of the Obligations (pursuant to a subordination, intercreditor, or other similar agreement in form and substance reasonably satisfactory to the Lenders entered into between the Lenders and the other creditor), on terms reasonably acceptable to the Lenders; *provided that* a subordination agreement with respect to such Subordinated Debt substantially in the form of the Junior Investor Subordination Agreement shall be deemed reasonably acceptable to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mmmm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subsidiaries</u>" means, with respect to any Person, any other Person of which an aggregate of more than 50% of the outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors (or other applicable governing body) of such other Person is at the time, directly or indirectly, owned legally or beneficially by such Person or one or more Subsidiaries of such Person, or a combination thereof, or with respect to which any such Person has the right to vote or designate the vote of more than 50% of such Capital Stock whether by proxy, agreement, operation of Law or otherwise. Unless the context otherwise requires, each reference to a Subsidiary shall mean a Subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nnnn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Tax</u>" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oooo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Transaction Documents</u>" means this Agreement, the Investors' Rights Agreement, the Voting Agreement and the ROFR 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;(pppp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Valuation Cap</u>" means the sum of (1) $340,000,000 plus (2) the aggregate Consideration under this Agreement plus (3) the aggregate amount paid by other lenders pursuant to the Junior Note 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;(qqqq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Voting Agreement</u>" means the Voting Agreement by and among the Company and certain other stockholders of the Company of even date herewith, as amended 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;(rrrr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>written</u>" or "<u>in writing</u>" shall include printing, typewriting, or any electronic means of communication capable of being visibly reproduced at the point of reception including telecopier and electronic data interchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount and Terms of the Notes</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;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Notes</u>. In return for the Consideration paid by each Lender, the Company shall sell and issue to such Lender one or more secured Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Lender for the Note, as set forth in the Schedule of Lenders. Each Note shall be convertible into Conversion Shares pursuant to Section 2.2 below and shall be secured by the assets of the Company as described in such Notes and any related security 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;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert Notes</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion</u>. The principal of any Note (the "<u>Conversion Balance</u>"), may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Conversion Balance on a Note to be converted on the date of conversion by the Conversion Price. Accrued interest on

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any Note (the "<u>Interest Balance</u>") may be converted into shares of Common Stock or paid in cash, at the option of the Company. If the Company elects to convert all or any portion of the Interest Balance into shares of Common Stock, the number of shares of Common Stock to be issued upon such conversion shall be equal to the quotient obtained by dividing the portion of the Interest Balance converted by the fair market value of a share of Common Stock on the date of conversion, as determined in good faith by the Board of Directors of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Transaction or IPO</u>. In the event of a Corporate Transaction or Initial Public Offering prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at the Lender's election, be (i) due and payable in full prior to the closing of the Corporate Transaction or Initial Public Offering or (ii) be converted into Conversion Shares at the Conversion Price.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Shares</u>. Upon the conversion of a Note into Conversion Shares, in lieu of any fractional shares to which the holder of the Note would otherwise be entitled, the Company shall pay such Note holder cash equal to such fraction multiplied by the Conversion Price applicable to such conversion.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of Conversion</u>. Before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Initial Public Offering or Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Mechanics</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;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing</u>. The closing (the "<u>Closing</u>") of the purchase of the Notes in return for the Consideration paid by each Lender shall take place remotely via the exchange of signatures on the date hereof, or at such other time and place as the Company and Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Closing agree upon orally or in writing. At the Closing, each Lender shall deliver the Consideration to the Company subject to and conditional upon the prior fulfillment of the following conditions by the to the entire satisfaction of (unless otherwise waived in writing by) the Lenders:

&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)&nbsp;&nbsp;&nbsp;&nbsp;On or prior to the Closing Date, the Lenders shall have received from the Company and, where applicable, the other Obligors, the following, each dated as of a date satisfactory to the Lenders and in form and substance entirely satisfactory to the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;this Agreement duly executed by the Lenders and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall deliver to each Lender one or more executed Notes in return for the respective Consideration provided to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agreement duly executed by the Lenders, the Senior Lender and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a subordination agreement duly executed by each Junior Investor, the Lenders and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section 6.1(e), each Security Document and each other Note Document, duly authorized, executed and delivered by the parties thereto; 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an amendment to the Senior Credit 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;financing statements in form suitable for filing against all the Assets of the Company and other Obligors and in all places and in all jurisdictions which the Lenders shall require; 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Lender shall have received the results of Lien searches of all filings, registrations or recordings of or with respect to all the Assets of the Obligors in each jurisdiction in which their respective Assets are located, together with such other documents that the Lenders shall require evidencing, to the satisfaction of the Lenders, that all such Assets are free and clear of all Liens, other than Permitted Liens, and that the Liens under the Security Documents constitute valid and enforceable first ranking Liens in each such jurisdiction against the Collateral securing the Obligations, subject only to Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Matters</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The parties hereto intend that the Notes shall be treated as debt for U.S. federal and applicable state, local and foreign income tax purposes and will report consistently with such intended treatment for all applicable tax purposes, except as otherwise required by 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall provide the Company with a properly completed IRS Form W-9 on or prior to the Closing Date and shall update or replace such IRS Form W-9 as and to the extent required by Law or upon reasonable request by the Company. Each Lender acknowledges that any interest payable hereunder may be subject to withholding taxes if such Lender fails to comply with its obligations under this <u>Section 3.2(b)</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;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Exchange</u>. In the event an existing holder of shares of Common Stock of the Company issued upon conversion of shares of preferred stock of the Company (a "Existing Preferred Holder") purchases a Note, such Existing Preferred Holder may enter into an agreement with the Company exchanging certain shares of the Existing Preferred Holder's Common Stock of the Company for shares of Series 1 Stock of the Company (as defined in the Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware), on the terms set forth in the form of exchange agreement attached hereto as <u>Exhibit B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lenders that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Organization, Good Standing and Qualification</u>. Each Obligor is a corporation or other legal Person duly organized, validly existing, and in good standing under the laws of the jurisdiction in which it was incorporated or organized and has all requisite corporate power and authority to carry on its business as now conducted. Each Obligor is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect on its business or properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with any Corporate Transaction or Initial Public Offering with respect to the Company, all corporate action has been taken on the part of each Obligor, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Notes and the other Note Documents. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, each Obligor has taken all corporate action required to make all of the obligations of the such Obligor reflected in the provisions of this Agreement, the Notes and the other Note Documents, the valid and enforceable obligations they purport to be. Except as otherwise

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indicated in this Section 4.2, the issuance of the Notes, or their subsequent conversion into Conversion Shares, will not be subject to the preemptive rights of any stockholder of the Company. The Company has authorized sufficient shares of Series 3 Preferred Stock, Series 2 Preferred Stock, and Common Stock to allow for conversion of the Notes as described in Section 2.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments</u>. Neither the authorization, execution and delivery of this Agreement, nor the issuance and delivery of the Notes will constitute or result in a material default or violation of any law or regulation applicable to any Obligor or any material term or provision of such Obligor's current Certificate of Incorporation or bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Valid Issuance of Common Stock and Preferred Stock</u>. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities 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;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Litigation and Other Proceedings</u>. Except for the litigation disclosed in Schedule 4.5, there is no litigation, action or other legal proceeding pending or known to be threatened in writing against any of the Obligors the adverse determination of which would have a Material Adverse 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;4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements of the Obligors</u>. Any financial statements of the Company (including, without limitation, the financial statements for the Fiscal Year ending December 31, 2019) delivered to the Lenders fairly present the consolidated financial condition and business operations of the Company, as at the date thereof and for the periods covered thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;<u>No Judgments</u>. To the knowledge of each Obligor, there are no outstanding material judgments, writs of execution, work orders, notices of deficiency capable of resulting in material work orders, injunctions or directives, in each case, in writing, against such Obligor or any of its 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;4.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Title to Assets; No Liens</u>. Each Obligor is the owner of, and has good and marketable title to, all its Collateral, and the same are free and clear of all Liens, except for Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. Schedule 4.9 sets forth a complete list and a description at the date hereof of all material and registered Intellectual Property owned by the Obligors used in the Business of the Obligors. The Obligors own the Intellectual Property free and clear of any Liens (other than Permitted Liens). Each of the Obligors owns or licenses all Intellectual Property required to be able to carry-on its business and all such licenses are in full force and effect, except where the failure to own or license such Intellectual Property or to maintain such licenses in full force and effect could not reasonably be expected to result in a Material Adverse 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;4.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Employee Agreements</u>. Each current and former Key Employee of the Company has executed an agreement with the Company regarding confidentiality and proprietary information substantially in the form or forms delivered to the counsel for the Lenders (the "<u>Confidential Information</u> <u>Agreements</u>"). No current or former Key Employee has excluded works or inventions from his or her assignment of inventions pursuant to such Key Employee's Confidential Information Agreement. The Company is not aware that any of its Key Employees is in violation of any agreement covered by this Section 4.10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreements; Actions.</u> Except for the Transaction Documents and the Senior Credit Agreement, there are no agreements, understandings, instruments, contracts or proposed transactions to

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which the Company is a party or by which it is bound that involve (i) obligations (contingent or otherwise) of, or payments to, the Company in excess of $10,000,000 or (ii) except for those set forth in Schedule 4.11, the license of any patent, copyright, trademark, trade secret or other proprietary right to or from the Company. The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its Capital Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Transactions</u>. Since January 25, 2019, other than (i) standard employee benefits generally made available to all employees, (ii) standard director and officer indemnification agreements approved by the Board, and (iii) the purchase of shares of the Company's Capital Stock and the issuance of options to purchase shares of the Company's Common Stock, in each instance, approved in the written minutes of the Board (previously provided to the Lenders or their counsel), there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, consultants or Key Employees, or any Affiliate thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws and Other Agreement</u>. No Obligor is in violation of any Applicable Law or any Material Contract that could reasonably be expected to result in a Material Adverse Effect. No Obligor or any of its directors or officers has made or received any improper payments to, or by, any governmental official or employee, any political party, official of a political party, official of any public organization or anyone else acting in an official capacity, in order to give, obtain, retain or direct business or obtain any improper advantage. Each Obligor has taken reasonable measures appropriate to the circumstances (in any event as required by Applicable Law) to ensure that each Obligor and its Affiliates is and will continue to be in compliance with all applicable anti-corruption and money-laundering laws and regulations applicable to it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Documents</u>. The Restated Certificate and Bylaws of the Company are in the form provided to the Lenders. The copy of the minute books of the Company provided to the Lenders contains minutes of all meetings of directors and stockholders and all actions by written consent without a meeting by the directors and stockholders since the date of incorporation and accurately reflects in all material respects all actions by the directors (and any committee of directors) and stockholders with respect to all transactions referred to in such minutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights of Registration and Voting Rights</u>. Except as provided in the Investors' Rights Agreement, the Company is not under any obligation to register under the Act, as amended, any of its currently outstanding securities or any securities issuable upon exercise or conversion of its currently outstanding securities. To the Company's knowledge, except as contemplated in the Voting Agreement, no stockholder of the Company has entered into any agreements with respect to the voting of capital shares of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Each Obligor and its Subsidiaries have filed, or are currently in the process of filing, all tax returns which are required to be filed by such Obligor or Subsidiary and have paid, or are currently in the process of settling, all material Tax, interest and penalties, if any, which have become due pursuant to such returns or pursuant to any assessment received by it and adequate provision for payment has been made for Tax not yet due except for (i) any such payment of which the concerned party is contesting in good faith by appropriate proceedings and for which appropriate reserves have been provided on the books of the relevant Obligor or Subsidiary, (ii) any such payment of which the concerned party is pursuing payment terms with any Government Authority or (iii) with respect to Tax payments in the aggregate not to exceed $110,000 at any one time, and as to which, in each case, neither any Lien has attached other than Permitted Liens nor any foreclosure, distraint, seizure, attachment, sale or other similar proceedings have been commenced. The charges, accruals and reserves on the books of each Obligor and Subsidiary in respect of Tax are adequate*.*

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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;4.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Security Documents, Liens</u>. Each of the Security Documents creates a valid and enforceable perfected Lien in all the Collateral of each Obligor party thereto, subject only to Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligors' Jurisdiction and Capital Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Listed on Schedule 4.18 is the following information with respect to each Obligor (i) its current jurisdiction of incorporation or constitution and its full current name, (ii) the number and owner of all issued and outstanding Capital Stock owned by such Obligor and the nature and percentage of such ownership interest, (iii) the jurisdiction where its minute books are kept and where its domicile and chief executive office is located; (iv) a description of any outstanding warrants, subscriptions, securities, instruments or other rights of any type or nature which are convertible into, exchangeable for or otherwise provide for or permit the issuance of Capital Stock of each Obligor; (v) the location of all of its places of business including leased premises and (vi) the location of all its Assets valued in excess of $250,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company has reserved 3,787,078,656 shares of Common Stock for issuance pursuant to the Stock Plan. Of such reserved shares of Common Stock, no shares have been issued pursuant to restricted stock purchase agreements, options to purchase 748,869,583 shares have been granted and are currently outstanding, and 3,038,209,073 shares of Common Stock remain available for issuance to officers, directors, employees and consultants pursuant to the Stock Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;The full capitalization of the Company as of May 5, 2020 has been disclosed in diligence materials made available to the Lender and is accurate and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;All outstanding shares of the Common Stock and all shares of the Common Stock underlying outstanding options are subject to (i) a right of first refusal in favor of the Company upon any proposed transfer (other than transfers for estate planning purposes); and (ii) a lock-up or market standoff agreement of not less than one hundred eighty (180) days following the Company's initial public offering pursuant to a registration statement filed with the Securities and Exchange Commission under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in diligence materials made available to the Lender, none of the Company's stock purchase agreements or stock option documents contains a provision for acceleration of vesting (or lapse of a repurchase right) or other changes in the vesting provisions or other terms of such agreement or understanding upon the occurrence of any event or combination of events, including without limitation in the case where the Company's Stock Plan is not assumed in an acquisition. The Company has never adjusted or amended the exercise price of any stock options previously awarded, whether through amendment, cancellation, replacement grant, repricing, or any other means. Except as set forth in the Restated Certificate, the Company has no obligation (contingent or otherwise) to purchase or redeem any of its Capital Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>409A</u>. The Company believes in good faith that any "nonqualified deferred compensation plan" (as such term is defined under Section 409A(d)(1) of the Code and the guidance thereunder) under which the Company makes, is obligated to make or promises to make, payments (each, a "<u>409A Plan</u>") complies in all material respects, in both form and operation, with the requirements of Section 409A of the Code and the guidance thereunder. To the knowledge of the Company, no payment to be made under any 409A Plan is, or will be, subject to the penalties of Section 409A(a)(1) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The Company has obtained valid waivers of any rights by other parties to purchase any of the Notes covered by this Agreement.

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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;4.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Labor Matters</u>. There is no obligation of any Obligor under any collective agreements or under any consulting or management agreement requiring payments which cannot be cancelled without material liability. There are no complaints or charges against any Obligor pending or threatened in writing to be filed with any Governmental Authority or arbitrator based on, arising out of, in connection with, or otherwise relating to the employment or termination of employment of any individual by any Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Debt</u>. No Obligor has any Debt, other than as expressly permitted under Section 6.2(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Chart</u>. There has been no material change to the structure of the Company and its respective Subsidiaries as set forth in Schedule 10.1(u) of the Senior Credit Agreement such that would be detrimental to the Collateral and priority ranking of any Lien granted to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Leased Real Property</u>. Schedule 10.1(w) of the Senior Credit Agreement contains a full and accurate description of all property and real estate leased by any Obligor, including a legal description of all such property in which it has a real right and the name and address of the landlord of any leased premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. As of the Closing Date, on a consolidated basis, the Obligors are Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Company</u>. No Obligor is an "investment company" nor a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA and Pension Plans</u>. (A) Except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, (i) each Plan is in compliance with the applicable provisions of ERISA, the Code and other federal or state Laws and (ii) each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS, and, to the knowledge of the Company, nothing has occurred that would prevent or cause the loss of such tax-qualified status. (B) There are no pending or, to the knowledge of the Company, threatened or contemplated claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (C) No ERISA Event has occurred, and neither the Company nor any ERISA Affiliate is aware of any fact, event or circumstance that, either individually or in the aggregate, could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan that, either individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect. (D) The present value of all accrued benefits under each Pension Plan (based on those assumptions used to fund such Pension Plan) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Pension Plan allocable to such accrued benefits by a material amount. As of the most recent valuation date for each Multiemployer Plan, the potential liability of the Company or any ERISA Affiliate for a complete withdrawal from such Multiemployer Plan (within the meaning of Section 4203 or Section 4205 of ERISA), when aggregated with such potential liability for a complete withdrawal from all Multiemployer Plans, is zero. (E) To the extent applicable, each Foreign Plan has been maintained in compliance with its terms and with the

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requirements of any and all applicable requirements of Applicable Law and has been maintained, where required, in good standing with applicable regulatory authorities, except to the extent that the failure so to comply could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. Neither the Company nor any Subsidiary has incurred any material obligation in connection with the termination of or withdrawal from any Foreign Plan. The present value of the accrued benefit liabilities (whether or not vested) under each Foreign Plan that is funded, determined as of the end of the most recently ended fiscal year of the Company or Subsidiary, as applicable, on the basis of actuarial assumptions, each of which is reasonable, did not exceed the current value of the property of such Foreign Plan by a material amount, and for each Foreign Plan that is not funded, the obligations of such Foreign Plan are properly accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26&nbsp;&nbsp;&nbsp;&nbsp;<u>OFAC</u>. No Obligor is in violation of any of the country or list based economic and trade sanctions administered and enforced by OFAC. No Obligor (i) is a Sanctioned Person or a Sanctioned Entity, (ii) has any of its Assets located in Sanctioned Entities, or (iii) derives any revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27&nbsp;&nbsp;&nbsp;&nbsp;<u>FCPA</u>. No Obligor, nor to the knowledge of the Company, no director, officer or employee of any Obligor or any Subsidiary, has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder or any other applicable anti-corruption law in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.28&nbsp;&nbsp;&nbsp;&nbsp;<u>Anti-Terrorism</u>. No Obligor or any of its Subsidiaries, or to the knowledge of the Company, any director, officer, or employee of any Obligor or any of their Subsidiaries (i) is an "enemy" or an "ally of the enemy" within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App. §§ 1 et seq.), or (ii) is in violation of (A) the Trading with the Enemy Act, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) or any enabling legislation or executive order relating thereto or (C) the PATRIOT Act (collectively, the "**Anti-Terrorism 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;4.29&nbsp;&nbsp;&nbsp;&nbsp;<u>Foreign Subsidiaries</u>. As of the Closing Date, none of the Foreign Subsidiaries are Material Subsidiaries, <u>other than Lime Electric Ireland Limited and Lime S.à.</u>r.l.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure</u>. The Company has made available to the Lenders all the information reasonably available to the Company that the Lenders have requested for deciding whether to purchase the Notes, including certain of the Company's presentation regarding the unit economics of its business, forecasts and projections of its business plan (such information, collectively, the "<u>Business</u> <u>Presentations</u>"). To the Company's knowledge, no representation or warranty of the Company contained in this Agreement, as qualified by the Schedules hereto, no Business Presentations, no financial statements provided by the Company and no certificate furnished or to be furnished to Lenders prior to or at the Closing contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances under which they were made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Lenders</u>. In connection with the transactions provided for herein, each Lender hereby represents and warrants to the Company that:

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. This Agreement constitutes such Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Lender represents that it has full power and authority to enter into this Agreement.

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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;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Entirely for Own Account</u>. Each Lender acknowledges that this Agreement is made with the Lenders in reliance upon such Lender's representation to the Company that the Notes, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "<u>Securities</u>") will be acquired for investment for such Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Lender further represents that such Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Each Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Securities. Each Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Each Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Lender also represents it has not been organized solely for the purpose of acquiring the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor</u>. Each Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "<u>SEC</u>"), as presently in 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;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Securities</u>. Each Lender understands that the Securities are characterized as "restricted securities" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only in certain limited circumstances. Each Lender represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, each Lender further agrees not to make any disposition of all or any portion of the Securities unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Sections 5 and 9.11 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) such Lender has notified the Company of the proposed disposition and has furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and (ii) if reasonably requested by the Company, such Lender shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary circumstances or in any transaction in which a Lender transfers Securities to one or more affiliates of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>U.S. Tax Person</u>. Each Lender is a U.S. person for U.S. federal income tax purposes.

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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;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. It is understood that the Securities may bear the following legend:

"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Covenants</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;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Affirmative Covenants</u>. So long as any amount owing under this Agreement, any Note or the other Note Documents remains unpaid, unless the Required Lenders shall have given their prior written consent, the Company shall, and shall cause each Obligor 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>New Subsidiaries</u>. At least 5 days prior to any Person becoming a Subsidiary of any Obligor (or of a Subsidiary thereof), notify the Lenders that such a Person will become a Subsidiary and furnish the Lenders with all details thereof such as the name, date and jurisdiction of incorporation, the names of its shareholders or other owners and the percentages of ownership interest, a description of its businesses and addresses; in addition, with respect to any Subsidiary organized under the laws of the United States or any Material Subsidiary, such Obligor shall, within thirty (30) days of the acquisition or formation of such Subsidiary, cause such Subsidiary to execute and deliver to the Lenders a Guarantee and such other Note Documents requested by the Required Lenders consistent with the terms of this Agreement, including an acknowledgement and consent by such Subsidiary to this Agreement, and such other documents or information as the Required Lenders may reasonably request including, without limitation, officer's certificates, financial statements, search reports, resolutions, constitutive documents, legal opinions and any other documents referred to in Section 3.1, all in form and substance reasonably satisfactory to such Lenders.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Security</u>. Do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such additional and future acts, deeds, instruments and assurances as are reasonably requested by Lenders to ensure at all times that the present and future Obligations of the Obligors are fully secured by valid and enforceable Liens for the benefit of the Lenders on all Collateral of the Obligors, subject only to Permitted Liens, as and in the manner required by Section 6.4. The Company shall ensure that (i) any Subsidiaries that (x) are Subsidiary Guarantors (as defined in the Senior Credit Agreement) under the Senior Credit Agreement (y) otherwise guarantee the payment and/or performance of the Senior Debt, shall become Subsidiary Guarantors hereof in accordance with Section 6.1(a) and (ii) any Assets that (x) become Collateral (as defined in the Senior Credit Agreement) under the Senior Credit Agreement or (y) are subject to the liens under the Senior Debt shall become Collateral under this Agreement and shall be subject to Liens in favor of the Lenders.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Operations and Accounts</u>. Subject to the Intercreditor Agreement, all of its North American bank accounts (including, any Deposit Account, Securities Account or Commodity Account, each as defined in the Security Agreement but excluding the Exempt Accounts) shall be subject to Control Agreements in favor of the Lenders; *provided that* such Control Agreements shall not be required in the event the Senior Lender does not have any perfected Lien on such accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA</u>. Promptly pay and discharge all obligations and liabilities arising under ERISA of a character which if unpaid or unperformed could reasonably be expected to have a Material

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Adverse Effect and promptly notify the Lenders of the occurrence of any event with respect to any Plan which would result in the incurrence by it of any material liability, fine or penalty, or any material increase in its contingent liability with respect to any post-retirement Plan benefit which, in all cases, could reasonably be expected to have a Material Adverse 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Post-Closing Matters</u>. As promptly as reasonably practicable, and in any event within the time periods specified on Schedule 6.1(e) (or such longer period as the Required Lenders may agree), after the Closing Date, the Company shall complete, or cause the applicable Obligor to complete, such undertakings and deliveries, in each case, as are set forth on Schedule 6.1(e).

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Negative Covenants</u>. So long as any amount owing under this Agreement, any Notes or the other Note Documents remains unpaid, unless the Required Lenders have given their prior written consent, each Obligor shall not:

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Debt</u>. Create, incur, assume or suffer to exist any Debt, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations or the Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;(A) any Debt owing by an Obligor to another Obligor, (B) any Debt owing by a non-Obligor to an Obligor or any Subsidiary of an Obligor and (C) any Debt owing by an Obligor to a non-Obligor to the extent such Debt constitutes an Investment permitted hereunder; provided that for purposes of the clause (a)(iii), any guaranty of the Debt of another person shall be deemed to be Debt owed to such other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any Debt representing Capital Lease 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;unsecured Debt to trade creditors incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Debt incurred as a result of endorsing negotiable instruments received in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;letters of credit and bank guaranties securing obligations with respect to leases of facilities and equipment, and commercial obligations in the ordinary course of business, not to exceed $1,100,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;purchase money indebtedness used to finance the acquisition of equipment; *provided that* the amount of purchase money indebtedness incurred hereunder shall not exceed the fair market value of the equipment financed by such purchase money indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;Debt with respect to any (i) treasury or other cash management services, including deposit accounts, automated clearing house (ACH) origination and other funds transfer, depository (including cash vault and check deposit), zero balance accounts and sweeps, return items processing, controlled disbursement accounts, positive pay, lockboxes and lockbox accounts, account reconciliation and information reporting, payables outsourcing, payroll processing, trade finance services, investment accounts and securities accounts and (ii) card services, including credit cards (including purchasing cards and commercial cards), prepaid cards, including payroll, stored value and gift cards, merchant services processing, and debit card services, in each case, incurred in the ordinary course of

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business; provided that any Debt incurred pursuant to this clause shall not be subject to any Liens except for Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Debt owing to insurance carriers and incurred to finance insurance premiums of any Obligor in the ordinary course of business in a principal amount not to exceed at any time the amount of insurance premiums to be paid by such Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;Debt in respect of (i) bids, tenders, performance bonds, statutory, attachment and appeal bonds, surety bonds or similar instruments and (ii) other similar bonds or similar instruments, workers' compensation claims, health, disability or other employee benefits and self-insurance obligations, in each case, in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;Debt assumed in connection with an acquisition or other investment, so long as (i) such Debt existed at the time the Person or assets subject to such acquisition or investment were acquired and was not created in anticipation thereof, and (ii) such Debt is not guaranteed in any respect by any Obligor (other than the Person subject to such acquisition or investment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Debt, obligations in respect of holdback obligations, working capital adjustments, indemnities and similar obligations incurred in connection with any asset disposition permitted hereunder or acquisition or other investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;&nbsp;&nbsp;deferred purchase price obligations, earn-outs and similar obligations to the extent such Debt is unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;&nbsp;&nbsp;Debt in respect of judgments, orders, decrees or arbitration awards for the payment of money not constituting an Event of Default; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)&nbsp;&nbsp;&nbsp;&nbsp;Other Debt not otherwise permitted hereunder not to exceed $1,100,000 at any time outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Liens</u>. Create, incur, assume or suffer to exist any Lien on any of its Assets, other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Asset Disposition; Distribution</u>. Except for Permitted Dispositions, make any Asset Disposition or distribute any of its Assets (including any Capital Stock of any of its Subsidiaries or any of its other Assets, present or future) to any Person unless the proceeds of such Asset Disposition are reinvested within one hundred and eighty (180) days of such Asset Disposition or are used to make a mandatory prepayment of the Senior Debt pursuant to the terms of the Senior Credit Agreement; *provided that* any distributions of Assets among the Company and its Subsidiaries to the extent that are permitted under clauses (i), (ii) and (iii) of Section 6.2(d) shall be permitted for purpose of this Section 6.2(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Transactions with Affiliates, Etc</u>. Directly or indirectly (i) purchase, acquire or lease any Assets from, (ii) sell, transfer or lease any Assets to, or (iii) permit any Obligor to purchase, acquire or lease any Assets from, or sell, transfer or lease any Assets to, any Affiliate of any Obligor, except for:

&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)&nbsp;&nbsp;&nbsp;&nbsp;such purchases, sales, acquisitions, leases and transfers at prices and on terms not less favourable to the Company or such Obligor, as the case may be, than those which would have been obtained in an arms' length transaction with an arms' length party;

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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;(ii)&nbsp;&nbsp;&nbsp;&nbsp;purchases, sales, acquisitions, leases and transfers between the Company and any of Company and the Guarantors or between Guarantors;

&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)&nbsp;&nbsp;&nbsp;&nbsp;transfers of inventory between the Obligors and their Subsidiaries in the ordinary course of 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;(iv)&nbsp;&nbsp;&nbsp;&nbsp;transactions otherwise permitted hereunder.

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Reporting and Information</u>. So long as any amount owing under this Agreement, any Note or the other Note Documents remains unpaid, the Company shall, and shall cause each other Obligor to furnish to the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>. As soon as available and in any event within forty-five (45) days after the end of each calendar month, the Company shall provide Lenders with a report of new registered Intellectual Property acquired or applied for since the last report. Before submitting any registration of copyright mask works to the United States Copyright Office, the Company shall provide the Lenders with prior written notice together with a copy of the application it intends to file with the United States Copyright Office. With respect to any Intellectual Property registered in the United States and acquired by any Obligor or changed after the Closing Date, each of the Obligors hereby agrees to deliver or cause any other Obligor to deliver, to the Lenders an Intellectual Property security agreement or other documents as the Lenders may reasonably require to perfect its lien therein or protect its interest with respect thereto, and authorizes the Lenders to amend any previously delivered Intellectual Property security agreement to amend any schedule thereto to reflect such addition or change. The Company shall promptly (but in any event within ten (10) Banking Days after becoming aware thereof) notify the Lenders of the institution of any proceeding in, or any adverse determination by, the United States Patent and Trademark Office, United States Copyright Office or similar agency regarding ownership, or the enforceability or validity of any Intellectual Property of any Obligor or any of its Subsidiaries, and any suspected material infringement of any of such Intellectual Property or any claim or material infringement by any Obligor or any of its Subsidiaries on the Intellectual Property rights of a third party, but for greater certainty the Company shall not be required to notify the Lenders of any such correspondence that is received in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default</u>. As soon as possible and in any event within two (2) Banking Days after becoming aware of the occurrence of any Event of Default or becoming aware of any event which constitutes a Default, a statement of a senior officer of the Obligors setting forth details of such Event of Default or Default and the action which the Company proposes to take with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default under Senior Credit Agreement</u>. As soon as possible and in any event within two (2) Banking Days after becoming aware of the occurrence of any Event of Default (as defined in the Senior Credit Agreement) or becoming aware of any event which constitutes a Default (as defined in the Senior Credit Agreement), a statement of a senior officer of the Obligors setting forth details of such event of default or default and the action which the Company proposes to take with respect thereto.

Notwithstanding otherwise provided herein, during any period that at least one or more members of the Board is appointed by the Lenders or Affiliates of the Lenders, any information, reports, statements or notices required to be furnished or provided to the Lenders under this Section 6.3 shall be deemed so

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furnished or provided to the extent such information, reports, statements or notices are presented to the Board within the required time period for such delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Security</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lien Priority</u>. The payment and performance when due of all Obligations of the Obligors shall at all times be secured by Liens for the benefit of the Lenders on the Assets of the Obligors 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;a second priority Lien, on all present and future Assets of the Obligors, subject only to Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;a pledge of Capital Stock by the Obligors of all Capital Stock in their Subsidiaries.

Notwithstanding the foregoing, in no event shall any Excluded Assets be subject to any Liens for the benefit of the Lenders.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Guarantees</u>. An unconditional guarantee for the benefit of the Lenders by each Guarantor with respect to the payment and performance of the 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Security</u>. The payment and performance when due of all Obligations of the Obligors shall also be secured by the following to the Lenders' entire satisfaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Security Documents to be executed by new Subsidiaries in accordance with the provisions of Section 6.1(a), including a general security agreement covering the Collateral and an intellectual property security agreement covering all Intellectual Property of the Obligors, each in a form and substance reasonably satisfactory to the Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any other security documents or agreements required by the Lenders, acting reasonably.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Provisions in Respect of the Security</u>. Each agreement or other document creating, evidencing or relating to the Liens referred to in this Section 6.4 shall be in form and substance reasonably satisfactory to the Lenders, and unless otherwise agreed by the Lenders shall be duly registered, recorded, filed and all other notices given, consents obtained and actions taken, in each case so the Liens created, granted or evidenced therein shall constitute valid and enforceable Liens for the benefit of the Lenders on all the Collateral stated to be subject thereto, subject only to Permitted Liens in each jurisdiction in which the Obligors are incorporated, in each case, as the Lenders reasonably requests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>State Commissioners of Corporations</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;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>California Corporate Securities Law</u>. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

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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;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaults and Remedies</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;8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. Any of the following events shall be considered an "Event of Default" with respect to each Note:

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Default in Payment of Note</u>: The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than thirty (30) days after the Maturity Date or at a date fixed by acceleration or otherwise;

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Default in Principal Payment of Senior Debt</u>. If any Obligor shall fail to make any payment of principal or interest on the Senior Debt when due (after giving effect to any grace period thereof), whether due by acceleration or otherwise; *provided however*, that the Event of Default under this Section 8.1(b) shall be deemed cured or waived for purposes of this Agreement upon the Lenders receiving evidence reasonably satisfactory to the Lenders that such payment default has been cured or waiver under the Senior Credit 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Insolvency and Bankruptcy</u>. The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation (each an "<u>Insolvency Proceeding</u>"), or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation of the Company;

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Involuntary Bankruptcy</u>. Within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Junior Notes Default</u>. Default or defined event of default that has not otherwise been cured or forgiven shall occur under the Junior Note Purchase Agreement or any Junior Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cross-Default</u>. Default or defined event of default that has not otherwise been cured or forgiven shall occur under any agreement to which the Company or any of its subsidiaries is a party that evidences indebtedness of $6,500,000 or more;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Inaccurate Fundamental Representations</u>. Any Fundamental Representation is incorrect or misleading in any material respect when made or deemed made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Default in Performance</u>. Other than those Events of Default listed in other clauses of this Section 8.1 (and the underlying obligations thereof), if any Obligor shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes, or the other Note Documents within 30 days after written notice from the Required Lenders to perform or observe the obligation;

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Judgment</u>. If a final non-appealable judgment or order for the payment of money in excess of $3,300,000 individually or in the aggregate not covered by independent third-party insurance

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as to which liability has not been denied by such insurance carrier is rendered against any Obligor and such judgment or order shall continue unsatisfied and unstayed (or shall not have been vacated) for a period of thirty (30) consecutive days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Event</u>: an ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan that has resulted or could reasonably be expected to result in liability of the Company under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $3,300,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;<u>Seizure; Attachment</u>. If a seizure or attachment is made of, or enforcement made against, any Assets of any Obligor (other than Permitted Liens) which Assets in the aggregate have a book value in excess of $3,300,000, provided that such seizure, enforcement or taking of possession or control continues in effect and remains undischarged for a period of thirty (30) days; *provided however*, that the Event of Default under this Section 8.1(l) shall be deemed cured or waived for purposes of this Agreement upon the Lenders receiving evidence reasonably satisfactory to the Lenders that such seizure or attachment default has been cured or waiver under the Senior Credit 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Guarantee</u>. If any Guarantor withdraws or terminates, or attempts to withdraw or terminate its Guarantee, except as otherwise permitted hereunder; *provided*, that no Event of Default shall result from such termination or withdrawal if such Guarantor ceases to guarantee the obligations under the Senior Credit 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;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of a Default</u>. Upon the occurrence and during the continuation of any Event of Default, the Required Lenders, by notice to the Company may (i) declare the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company or the other Obligors under or pursuant to this Agreement, the Notes and the other Note Documents to be forthwith due and payable, whereupon the outstanding principal amount of the Notes, all such accrued interest and all such other amounts shall become and be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Company. Thereupon, the Company shall immediately pay to the Lenders all such amounts due and payable. In addition to the foregoing, if an Event of Default pursuant to Sections 8.1(c) or 8.1(d) shall occur, the outstanding principal amount of the Notes, all interest accrued and unpaid thereon and all other amounts payable by the Company or the other Obligors under or pursuant to this Agreement, the Notes and the other Note Documents shall automatically be and become immediately due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Company, and thereupon the Company shall immediately pay to the Lenders all such amounts due and payable. For greater certainty, the Company will be considered to be in default of its obligations hereunder by the mere lapse of time provided for performing such obligations, without any requirement of further notice or other act of any Lender unless a notice is specifically required hereunder. If an Event of Default shall have occurred and be continuing, the Lenders may immediately exercise all rights and remedies they may have under this Agreement, the Notes and the other Note Documents and by Law, all without any additional notice, presentment, demand, protest, notice of dishonor, take possession of any of the Collateral, or any other action, notice of all of which are expressly waived by the Obligors.

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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;8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies Cumulative; No Waiver</u>. For greater certainty, it is expressly understood and agreed that the rights and remedies of the Lenders under this Agreement, the Notes and the other Note Documents are cumulative and are in addition to, not in substitution for, any rights or remedies provided by any Applicable Law; no failure on the part of any Lender to exercise, and no delay in exercising, any right or remedy hereunder or thereunder shall operate as a waiver thereof, nor shall any single or partial exercise by any Lender of any right or remedy for a default or breach of any term, covenant, condition or agreement herein contained prejudice or preclude any other or further exercise thereof or the exercise of any other right or remedy for the same or any other default or breach and shall not waive, alter, affect or prejudice any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</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;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties, <u>provided</u>, <u>however</u>, that (i) the Company may not assign its obligations under this Agreement without the written consent of the Required Lenders and (ii) the Lenders may assign the Notes, in whole or in part to their Affiliates without consent of the Company, provided that the Lenders shall provide written notice to the Company promptly after such assignment (and the failure to provide such notice shall not invalidate such assignment). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Submission to Jurisdiction; Etc.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement, the Notes and the other Note Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement, the Notes or any other Note Document (except, as to any other Note Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Submission to Jurisdiction</u>. The Company hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the courts of the State of New York in the County of New York and of the United States District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, the Notes or the other Note Documents or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final non-appealable judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Lenders may otherwise have to bring any action or proceeding relating to this Agreement against the Company or its properties in the courts of any jurisdiction.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Venue</u>. The Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, the Notes or other Note Documents in any court referred to in Section 9.2(b). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

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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;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Service of Process</u>. Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.5. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by 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;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement 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.

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 9.5):

If to the Company:

**Neutron Holdings, Inc.**

85 2<sup>nd</sup> Street

San Francisco, CA 94105

Attention: Legal Department

If to the Lenders:

At the respective addresses shown on the signature pages hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Each Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which such Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless each Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Expenses</u>. If any action at law or in equity arises as between the Company and the Lenders (other than in connection with an Event of Default or a Default or Lenders' enforcement of or preservations of any rights under any Note Document), the prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. The Company shall reimburse the Lenders all costs and expenses incurred by the Lenders in connection with their enforcement of or preservations of any rights under any Note Documents in connection with an Event of Default or a Default.

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement; Amendments and Waivers</u>. This Agreement and the Notes and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Any term of this Agreement or the Notes may be amended and the observance of any term of this Agreement or the Notes may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of

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the Company and the Required Lenders; provided however, that any amendment to (i) the interest rate on the Notes or (ii) the terms of conversion of the Notes into Equity Securities of the Company (including, without limitation, changes to the definitions of Conversion Price, Conversion Securities or Valuation Cap) shall require the consent of the Majority Note Holders (as defined in the Junior Note Purchase Agreement). Any waiver or amendment effected in accordance with this Section 9.8 shall be binding upon each party to this Agreement and any holder of any Note purchased under this Agreement at the time outstanding and each future holder of all such Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment or Waiver</u>. Each Lender acknowledges that by the operation of Section 9.9 hereof, the Required Lenders will have the right and power to diminish or eliminate all rights of such Lender under this Agreement and each Note issued to such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its 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;9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>"Market Stand-Off" Agreement</u>. Each Lender hereby agrees that it will be bound by Section 2.11 of the Investors' Rights Agreement, and agrees that a legend reading substantially as set forth in Section 2.12(b) of the Investors Rights Agreement will be placed on all certificates representing all Conversion Shares of each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Purchase Agreement</u>. Each Lender understands and agrees that the conversion of the Notes into Conversion Shares may require such Lender's execution of certain agreements (in form reasonably agreeable to the Lender) relating to the conversion, purchase and sale of such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpation Among Lenders</u>. Each Lender acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Lender agrees that no other Lender nor the respective controlling persons, officers, directors, partners, agents, stockholders or employees of any other Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that each Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company or as a result of any splits, recapitalizations, combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying the Conversion Shares that occur prior to the conversion of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurance</u>. From time to time, the Company shall execute and deliver to the Lenders such additional documents and shall provide such additional information to the Lenders as any Lender may reasonably require to carry out the terms of this Agreement, the Notes and the other Note Documents and any agreements executed in connection herewith or therewith, or to be informed of the financial and business conditions and prospects of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW

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EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

[*Signature pages follow*]

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

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| |
|:---|
| **Neutron Holdings, Inc.** |
| By:<u>&nbsp;&nbsp;&nbsp;&nbsp; /s/ Wayne Ting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| **Name:** Wayne Ting |
| **Title:** Chief Executive Officer |

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| | | |
|:---|:---|:---|
| **LENDERS:** | **LENDERS:** | **LENDERS:** |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | <u>/s/ Jennifer Jarrett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | <u>/s/ Jennifer Jarrett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Print Name: | Print Name: | <u>Jennifer Jarrett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Title: VP Corporate Development and Capital | Title: VP Corporate Development and Capital | Title: VP Corporate Development and Capital |
| Markets <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | Markets <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | Markets <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |

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<u>SCHEDULE OF LENDERS</u>

[\*\*\*]

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<u>Exhibit A</u>

Form of Note

[\*\*\*]

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<u>Exhibit B</u>

Exchange Agreement

[\*\*\*]

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**SCHEDULE 4.5**

**LITIGATION AND OTHER PROCEEDINGS**

[\*\*\*]

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**SCHEDULE 4.9**

**INTELLECTUAL PROPERTY**

[\*\*\*]

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**SCHEDULE 4.11**

**AGREEMENTS; ACTIONS**

**[\*\*\*]**

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**SCHEDULE 4.18**

**OBLIGORS' JURISDICTION ETC.**

[\*\*\*]

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**SCHEDULE 6.1(e)**

**POST-CLOSING MATTERS**

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***Execution Version***

**CONSENT, WAIVER AND AMENDMENT**

This **CONSENT, WAIVER AND AMENDMENT**, dated as of October 29, 2021 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Company***"), Lime Neutron LLC ("***Guarantor***") and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents referred to below.

**RECITALS**

**WHEREAS**, the Company and the lenders from time to time party thereto are parties to that certain (i) Note Purchase Agreement, dated as of May 7, 2020 (as amended, amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***"), (ii) Security Agreement, dated as of May 7, 2020, among the Specified Lender, Borrower and Guarantor (as amended, amended and restated, modified or supplemented from time to time, the "***Security Agreement***"), (iii) Guarantee, dated as of May 7, 2020, among the Specified Lender and Guarantor (as amended, amended and restated, modified or supplemented from time to time, the "***Guarantee***"), and (iv) the other Security Documents.

**WHEREAS**, the Company desires to enter into that certain Note Purchase Agreement, dated as of the date hereof (as amended, amended and restated, modified or supplemented from time to time, the "***New Note Purchase Agreement***"), with Wilmington Savings Fund Society, FSB, as collateral agent for the Holders (as defined therein) (the "***Collateral Agent***"), and the purchasers party thereto (the "***Purchasers***").

**WHEREAS**, Section 6.2(a) of the Note Purchase Agreement restricts the incurrence of Debt, other than Debt permitted by Section 6.2(a) of the Note Purchase Agreement and Section 6.2(b) of the Note Purchase Agreement restricts the incurrence of any Liens on any Assets, except for Permitted Liens.

**WHEREAS**, the Company has requested that the Specified Lender consents to (x) the Company's execution of the New Note Purchase Agreement, and (y) the incurrence of the Debt and Liens on the Assets in favor of the Collateral Agent for the benefit of the Holders to secure the New Note Purchase Agreement and the Notes Documents (as defined in the New Notes Purchase Agreement).

**WHEREAS**, the Company desires that the security provided under the Note Purchase Agreement, the Security Agreement and the other Security Documents be identical to the security being granted to the Collateral Agent for the Purchasers under the New Note Purchase Agreement, the Security Agreement (as defined in the New Notes Purchase Agreement) and the Security Documents (as defined in the New Notes Purchase Agreement).

**WHEREAS**, the Company has requested that the Specified Lender agree to amend certain provisions of the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents to match the similar provisions in the New Note Purchase Agreement and the Security Documents (as defined in the New Note Purchase Agreement).

**WHEREAS**, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement or the Security Agreement, as context dictates.

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**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent**. Subject to the satisfaction of the conditions precedent set forth in <u>Section 5</u> hereof, as of the Effective Date (as defined below), the Specified Lender hereby consents to the incurrence by the Company of (x) the Debt under the New Notes Purchase Agreement as in effect on the date hereof and (y) Liens on the Collateral in favor of the Collateral Agent for the benefit of the Holders to secure the New Notes Purchase Agreement and the Notes Documents (as defined in the New Notes Purchase Agreement), in each case, as in effect as of the date hereof.

**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Amendments**. The Note Purchase Agreement, the Security Agreement, the Guarantee and the other Security Documents are hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 1 of the Note Purchase Agreement is hereby amended by adding the following terms in alphabetical order:

"<u>Amendment Date</u>" shall mean October [__], 2022.

"<u>Domestic Subsidiary</u>" means any Subsidiary of the Company organized under the laws of the United States of America, any State thereof, the District of Columbia, or any other jurisdiction within the United States of America.

"<u>Intercreditor Agreement</u>" means the Intercreditor Agreement, dated as of the date hereof, by and among the Wilmington Savings Fund Society, FSB, the purchasers party thereto, the Lenders, the Company and the Guarantors, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

"<u>Senior Agent</u>" shall mean the "Agent" as defined in the Senior Credit Agreement.

"<u>Senior Intercreditor Agreement</u>" means the Subordination and Intercreditor Agreement, dated as of June 4, 2021, by and among the Lenders, the Senior Agent and the Company, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The definition of Guarantor in Section 1 of the Note Purchase Agreement is hereby amended and restated as follows:

"<u>Guarantor</u>" means (i) each Domestic Subsidiary of the Company that has executed or delivered, or shall in the future, pursuant to Section 6.1, execute or deliver, any guarantee of Obligations, and (ii) each other Subsidiary of the Company that the Company shall, in its sole discretion, cause to execute and deliver (a) a guarantee of Obligations and (b) other Security Documents, in form and substance reasonably acceptable to the Company and the Required Lenders, including control agreements or other instruments that provide the Lenders with a perfected Lien (subject to Permitted Liens) over any deposit accounts or securities accounts held by such Subsidiary; <u>provided</u>, that, subject to <u>Section 6.1(e)</u>, any Subsidiary that guarantees the obligations under the Senior Credit Agreement shall also be required to guarantee the Obligations and grant security in favor of the Lenders in accordance with <u>Sections 6.1(a)</u> and <u>(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(a) of the Note Purchase Agreement is hereby amended and restated with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>New Subsidiaries</u>. Except as otherwise approved by the Required Lenders (as defined in the Senior Credit Agreement) under Section 7.13 of the Senior Credit Agreement (such that the requirements of such Section 7.13 are not so required to be complied with thereunder), with respect to (x) any Subsidiary formed or acquired after the Amendment Date or (y) any Subsidiary existing on the Amendment Date that does not guarantee the obligations under the Senior Credit Agreement on the Amendment Date but subsequently guarantees the obligations under the Senior Credit

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Agreement at any time after the Amendment Date, the Company and the Guarantors shall, within thirty (30) days (or such longer period as the Senior Agent may agree) of formation or acquisition (in the case of clause (x)) or the date such Subsidiary guarantees the obligations under the Senior Credit Agreement (in the case of clause (y)), cause (i) any such Subsidiary that is a Domestic Subsidiary and (ii) any such Subsidiary that is not a Domestic Subsidiary that guarantees the obligations under the Senior Credit Agreement, to guarantee the Obligations and grant to the Lenders a security interest in, subject to the limitations set forth herein and in the Note Documents, all of such Subsidiary's property to secure such guarantee. The Company and the Guarantors shall deliver, or cause to be delivered, to the Lenders, appropriate resolutions, secretary certificates and certified organization documents and, if requested by Senior Agent (acting at the direction of the Required Lenders (as defined in the Senior Credit Agreement)) with respect to the Obligations (as defined in the Senior Credit Agreement), legal opinions relating to the matters described in this Section 6.1(a) (which opinions shall be in form and substance reasonably acceptable to the Required Lenders and, to the extent applicable, substantially similar to the opinions previously delivered to the Lenders); it being understood and agreed that no opinion shall be required with respect to the determination of whether any Subsidiary is a Domestic Subsidiary.

(d)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(b) of the Note Purchase Agreement is hereby amended and restated with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Security</u>. The Company shall, and shall cause the Company and each Guarantor to, do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such additional and future acts, deeds, instruments and assurances as are reasonably requested by Required Lenders to ensure at all times that the present and future obligations of the Company in respect of the Notes and the guarantees by each Guarantor are fully secured by valid and enforceable Liens for the benefit of the Lenders on all Collateral of each of the Company and the Guarantors, subject only to Permitted Liens, as and in the manner required by <u>Section 6.3</u>.

(e)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(c) of the Note Purchase Agreement is hereby amended and restated with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Operations and Accounts</u>. Subject to the Senior Intercreditor Agreement and the Intercreditor Agreement, the Company shall use commercially reasonable efforts within ninety (90) days after (i) the Amendment Date or (ii) in the case of any Person that becomes a Guarantor after the Amendment Date, the date such Person becomes a Guarantor (in each case, or such longer period as the Lenders may agree (acting at the direction of the Required Lenders), to cause the Company and each Guarantor to deliver control agreements with respect to its bank accounts (including, any deposit account, securities account or commodity account, each as defined in the Security Agreement but excluding any Exempt Accounts); <u>provided</u> that such control agreements shall not be required in the event the Senior Agent is not a party to a control agreement that has perfected its Lien on such accounts.

(f)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1(e) of the Note Purchase Agreement is hereby amended and restated with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Guarantees and Security</u>. Subject to the Senior Intercreditor Agreement, the Company shall cause, within ninety (90) days (or such longer period of time as the Required Lenders may agree) after the Amendment Date, (x) all Subsidiaries of the Company that are guarantors of the obligations under the Senior Credit Agreement on the Amendment Date to become Guarantors of the Obligations and to execute and deliver a supplement to the Guarantee in form and substance satisfactory to the Required Lenders and (y) all Assets of the Company and its Subsidiaries that are subject to the liens under the Senior Indebtedness on the Amendment Date to become Collateral under this Agreement and become subject to Liens in favor of the Lenders.

(f)&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of the Note Purchase Agreement, the Security Agreement and the Guarantee are hereby amended and restated with the following:

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THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN (A) THAT CERTAIN SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS OF JUNE 4, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG WILMINGTON TRUST, NATIONAL ASSOCIATION, AS THE SENIOR AGENT, UBER TECHNOLOGIES, INC., AS THE SUBORDINATED LENDER AND THE COMPANY, (B) THAT CERTAIN INTERCREDITOR AGREEMENT, DATED AS OF OCTOBER 29, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG UBER TECHNOLOGIES, INC., WILMINGTON SAVINGS FUND SOCIETY, FSB, THE PURCHASERS PARTY THERETO, THE COMPANY AND THE GUARANTOR AND (C) THAT CERTAIN CONSENT AND SUBORDINATION AGREEMENT, DATED AS OF JUNE 4, 2021 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG THE UBER TECHNOLOGIES, INC. AS THE SENIOR LENDERS, CERTAIN JUNIOR INVESTORS CONSTITUTING "REQUIRED LENDERS" (AS DEFINED IN THE JUNIOR NOTE PURCHASE AGREEMENT (AS DEFINED IN THE NOTE PURCHASE AGREEMENT)) AS SUBORDINATED LENDERS AND THE COMPANY.

(g)&nbsp;&nbsp;&nbsp;&nbsp;Section 4 of the Security Agreement is hereby amended to (i) delete the word "and" appearing at the end of clause (q), (ii) to add the word "and" as the last word of clause (r) and to add the following new clause(s):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) to the extent not covered by any of the above, any asset for which any Grantor has grant security interest for the benefits of any Junior Investor, Senior Agent or Senior Lender (in their capacity as such).

(h) &nbsp;&nbsp;&nbsp;&nbsp;From and after the Effective Date, (i) all references to the Note Purchase Agreement in the Note Purchase Agreement, the Security Agreement, the Guarantee or any Security Document and all references in the Note Purchase Agreement to "this Agreement," "hereunder," "hereof" or words of like import referring to the Note Purchase Agreement, shall, unless expressly provided otherwise, refer to the Note Purchase Agreement as amended by this Agreement, and (ii) all references to the Security Agreement or Guarantee in the Note Purchase Agreement, the Security Agreement, the Guarantee or any Security Document and all references in the Security and Guarantee, as applicable to "this Agreement," "hereunder," "hereof" or words of like import referring to the Security and Guarantee, as applicable, shall, unless expressly provided otherwise, refer to the Security Agreement and Guarantee, as applicable, as amended by this Agreement.

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Waiver.** The Lenders hereby waive any Default or Event of Default that may have occurred prior to the date hereof as a result of the Company's failure to satisfy the requirements of Section 6.1(a), 6.1(b), 6.1(c) or 6.1(e) of the Note Purchase Agreement prior to the date hereof.

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** The effectiveness of this Agreement shall be subject to the following conditions precedent (the date all of such conditions are satisfied, the "***Effective Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Company and the Lenders of copies of this Agreement duly executed by the Company, the Guarantor and the Specified Lender constituting the Required Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Lenders of the duly executed copies of the New Notes Purchase Agreement and the other Notes Documents (as defined in the New Notes Purchase Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall have occurred and be continuing, after giving effect to this Agreement.

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**SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Except as expressly set forth in **Sections 2, 3** and **4**, nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement, the Security Agreement, the Guarantee or the Security Documents or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement, the Security Agreement, the Guarantee and the Security Documents remain unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the Security Agreement, the Guarantee or the Security Documents, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Wayne Ting |
| | Name: Wayne Ting |
| | Title: Chief Executive Officer |
| **Guarantor:** | **Guarantor:** |
| **LIME NEUTRON LLC** | **LIME NEUTRON LLC** |
| By | /s/ Wayne Ting |
| | Name: Wayne Ting |
| | Title: Chief Executive Officer |

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[Signature Page]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Nelson Chai |
|  | Name: Nelson Chai |
|  | Title: Chief Financial Officer |

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[Signature Page]

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**THIRD AMENDMENT**

THIS THIRD AMENDMENT, dated as of August 28, 2024 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to existing indebtedness and letters of credit to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation**.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;Amendment**.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2(a)(i) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(i) the Obligations, the Senior Debt and Debt existing on the closing date of the Senior Credit Agreement which is disclosed in Schedule 1A to the Senior Credit 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;11.2&nbsp;&nbsp;&nbsp;&nbsp;Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(vi) (A) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding or (B) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on

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behalf of an Obligor or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $75,000,000 at any time outstanding."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent**.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "**Effective Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial**.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and 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;14.2&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive 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;14.4&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&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&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Ann Gugino |
| | Name: Ann Gugino |
| | Title: CFO |

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[Signature Page to Third Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Madhu Kannan |
|  | Name: Madhu Kannan |
|  | Title: VP, Corporate Development |

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[Signature Page to Third Amendment]

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**FOURTH AMENDMENT**

THIS FOURTH AMENDMENT, dated as of October 6, 2025 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, as further amended by that certain Third Amendment, dated as of August 28, 2024, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to existing indebtedness and letters of credit to corresponding provisions in the Senior Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;**Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;**Amendment.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1&nbsp;&nbsp;&nbsp;&nbsp;Section 1 of the Note Purchase Agreement is hereby amended by adding the following term in alphabetical order:

"<u>Swap Contract</u>" means (a) any and all rate swap transactions, forward rate transactions, commodity swaps, forward commodity contracts, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, spot contracts, or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any other similar transactions or any combination of any of the foregoing, whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related

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schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement, in each case for the purpose of hedging the foreign currency, interest rate or commodity risk associated with the operations. Notwithstanding the foregoing, Swap Contract shall not include any equity swaps, options or forwards to which the Company or any Subsidiary is party that are classified and accounted for in the Company's stockholders' equity under GAAP."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2&nbsp;&nbsp;&nbsp;&nbsp;The definition of Permitted Dispositions in Section 1 of the Note Purchase Agreement is hereby amended and restated to add "(xii) the unwinding of any Swap Contract in accordance with its terms" as follows:

"<u>Permitted Dispositions</u>" means (i) the disposition of inventory in the ordinary course of business, (ii) the disposition of worn-out, surplus or obsolete equipment that is, in the reasonable judgment of the Obligors, no longer economically practicable to maintain or useful in the ordinary course of business, (iii) sales and issuance of the Capital Stock of the Company, (iv) the use of cash and cash equivalents in the ordinary course of business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement or the other Note Documents, (iv) leases, subleases and licenses in the ordinary course of business, (v) Permitted Liens and investments and acquisitions, (vi) dispositions of equipment to the extent such property is exchanged for credit against the purchase price or similar replacement property, (vii) dissolution or winding down of Subsidiaries that are not Obligors so long as the assets of such Subsidiary are transferred to the Company or another Subsidiary; (viii) dispositions from and after the Closing Date of non-core assets or assets not necessary or useful in the business of the Company or any Subsidiary (including real property) acquired in connection with any acquisition or investment, (ix) retail sales of new scooters; (x) sales used or decommissioned scooters in the ordinary course of business; (xi) dispositions of assets not otherwise permitted hereunder not to exceed $5,500,000 in the aggregate in any fiscal year; and (xii) the unwinding of any Swap Contract in accordance with its 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;16.3&nbsp;&nbsp;&nbsp;&nbsp;The following clause is added to Section 6.2(a) of the Note Purchase Agreement:

"(xvii) Debt incurred under any Swap Contracts entered into in the ordinary course of business, and not for speculative purposes, to protect against changes in interest rates or foreign exchange rates."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;**Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;**Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;&nbsp;&nbsp;&nbsp;**Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and 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;19.2&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining

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provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive 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;19.4&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.5&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.6&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

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**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | /s/ Ann Gugino |
| | Name: Ann Gugino |
| | Title: CFO |

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[Signature Page to Fourth Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Madhu Kannan |
|  | Name: Madhu Kannan |
|  | Title: Chief Business Officer |

---

[Signature Page to Fourth Amendment]

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**FIFTH AMENDMENT**

THIS FIFTH AMENDMENT, dated as of March 13, 2026 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation ("***Borrower***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</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;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower and Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of April 15, 2023, as further amended by that certain Third Amendment, dated as of August 28, 2024, as further amended by that certain Fourth Amendment, dated as of October 6, 2025 and as further amended and restated, modified or supplemented from time to time, the "***Note 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;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower is party to that certain Credit Agreement, dated as of October 5, 2023 (as amended from time to time, the "***Senior Credit Agreement***"), with the persons party thereto as lenders (together with all other lenders under the Senior Credit Agreement, the "***Lenders***"), Alter Domus (US) LLC, in its capacity as initial administrative agent (in such capacity, together with any successors and assigns, the "***Administrative Agent***"), and Diameter Finance Administration LLC, in its capacity as collateral agent for the Lenders (in such capacity, together with any successors and assigns, the "***Collateral Agent***" and, together with the Administrative Agent, collectively the "***Senior Agent***").

&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.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Borrower has requested that the Specified Lender conform certain provisions of the Note Purchase Agreement related to letters of credit and guarantees to corresponding provisions in the Senior Credit 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;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**Amendment.**

Section 6.2(a)(vi) of the Note Purchase Agreement is hereby amended and restated in its entirety to:

"(vi) (A) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for real estate purposes in the ordinary course of business in an amount not to exceed $21,000,000 at any time outstanding or (B) reimbursement obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of an Obligor or a Subsidiary for any other purposes in the ordinary course of business in an amount not to exceed $125,000,000 at any time outstanding."

The following clause is added to Section 6.2(a) of the Note Purchase Agreement:

[Signature Page to Fourth Amendment]

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"(xviii)&nbsp;&nbsp;&nbsp;&nbsp;Debt arising under guarantees and similar instruments issued by the Company or any of its Subsidiaries (including guarantees issued by the Company in respect of the obligations of any of its Subsidiaries) in connection with any request for proposals, tenders, concessions, licenses, permits, franchises, contracts for goods, services or equipment, or other business operations, entered into with cities, municipalities, or any other Governmental Authority with whom the Company or any its Subsidiaries conducts or intends to conduct business, including all obligations, liabilities and indemnities arising thereunder, and not in connection with any Indebtedness for borrowed money."

The following clause is added to the end of Section 6.2(d) of the Note Purchase Agreement:

"Notwithstanding the foregoing, in connection with the settlement of indebtedness represented by the promissory notes listed on Schedule 1B of the Senior Credit Agreement, equity interests of the Company may be repurchased or otherwise taken possession of by the Company, including through netting arrangements, so long as no default known to the Company or Event of Default shall have occurred or be continuing."

**Effectiveness; Conditions Precedent.** This Agreement shall be effective upon receipt by the Borrower and the Specified Lender of copies of this Agreement duly executed by the Borrower and the Specified Lender constituting the Required Lenders (such date, the "***Effective Date***").

**Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**Miscellaneous.**

**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remain unmodified and in full force and effect.

**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and

[Signature Page to Fourth Amendment]

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as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

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[Signature Page to Fourth Amendment]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| | |
|:---|:---|
| **Borrower:** | **Borrower:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By | <u>/s/ Ann Gugino</u> |
| | Name: Ann Gugino |
| | Title: Chief Financial Officer |

---

[Signature Page to Fifth Amendment]

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| **ARTICLE II** | **ARTICLE II** |
| By: | <u>/s/ Odette Rodrigues</u> |
|  | Name: Odette Rodrigues |
|  | Title: Vice President, Corporate Finance, Capital Markets and Treasury |

---

[Signature Page to Fifth Amendment]

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**CONSENT AND SIXTH AMENDMENT**

THIS CONSENT AND SIXTH AMENDMENT, dated as of May 22, 2026 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), and Uber Technologies, Inc. (the "***Specified Lender***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.WHEREAS, the Company and the Specified Lender are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended by that certain Consent and Waiver dated September 24, 2021, as further amended by that certain Consent, Waiver, and Amendment, dated as of October 29, 2021, as further amended by that certain Second Amendment, dated as of January 26, 2022, by that other certain Second Amendment, dated as of April 15, 2023, as further amended by that certain Third Amendment, dated as of August 28, 2024, as further amended by that certain Fourth Amendment, dated as of October 6, 2025, as further amended by that certain Fifth Amendment, dated as of March 13, 2026, and as further amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.WHEREAS, (i) the Note Purchase Agreement provides that provisions of the Note Purchase Agreement related to conversion of the Notes may be amended, waived or modified only upon the written consent of the Company, the Required Lenders and the Majority Note Holders as defined the Junior Note Purchase Agreement; and (ii) the Junior Note Purchase Agreement provides that provisions of the Junior Note Purchase Agreement related to conversion of the Notes may be amended, waived or modified only upon the written consent of the Company, the Specified Lender and the Majority Note Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.WHEREAS, the Company has requested to amend the conversion terms of the notes under the Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.WHEREAS, the Company has requested that the Specified Lender consent to the amendment of the conversion terms of the notes under the Junior Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.WHEREAS, the Company has or will obtain consent of the Majority Note Holders to amend the conversion terms of (i) the Note Purchase Agreement and (ii) the Junior Note Purchase Agreement and the Company has or will enter into such amendment to the Junior Note Purchase Agreement on or around the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.WHEREAS, the Specified Lender, constituting the Required Lenders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

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**SECTION 1.Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.Consent.** Subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, as of the Effective Date (as defined below), the Specified Lender hereby consents to the amendment of the Junior Note Purchase Agreement by the Company to match the amendments to the conversion terms of the Note Purchase Agreement described below.

**SECTION 3.Amendment.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Section 1 of the Note Purchase Agreement is hereby amended by adding the following terms in alphabetical order:

"<u>Conversion Date</u>" means the date on which the Conversion Time occurs.

"<u>Conversion Time</u>" means, with respect to any Initial Public Offering that is an underwritten initial public offering, the time of the execution of the underwriting agreement entered into by the Company and the underwriters in connection with such Initial Public Offering.

"<u>Principal Market</u>" means the New York Stock Exchange, the Nasdaq Stock Market or any other national stock exchange on which the shares of Common Stock of the Company are to be listed in connection with an Initial Public Offering.

"<u>Trading Day</u>" means, with respect to any Conversion Shares, a day on which trading in the shares of Common Stock of the Company generally occurs on the Principal Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Section 2.2(b) of the Note Purchase Agreement is hereby amended and restated in its entirety to read 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;Corporate Transaction or IPO. (i) In the event of a Corporate Transaction prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at the Lender's election, be (1) due and payable in full prior to the closing of the Corporate Transaction or (2) be converted into Conversion Shares at the Conversion Price. (ii) Upon the occurrence of an Initial Public Offering prior to full payment of a Note, all outstanding principal and unpaid accrued interest due on such Note shall be automatically converted in full at the Conversion Time into a number of Conversion Shares at the Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Section 2.2(d) of the Note Purchase Agreement is hereby amended and restated with the following:

&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) &nbsp;&nbsp;&nbsp;&nbsp;Mechanics of Conversion. (i) In connection with any conversion of this Note pursuant to Sections 2.2(a) or 2.2(b)(i), before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the

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Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Corporate Transaction. (ii) In connection with any conversion of this Note pursuance to Section 2.2(b)(ii), the holder shall promptly (1) deliver instructions for delivery of the Conversion Shares and (2) surrender this Note to the Company (or, in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Company) no later than the second (2nd) Banking Day immediately preceding the Conversion Time; provided that failure to timely deliver instructions for delivery of the Conversion Shares or to timely surrender this Note shall toll but not release the Company of its obligations hereunder or delay the Conversion Date of this Note. Upon conversion of this Note, the Company shall deliver the Conversion Shares to the holder no later than by 12:00 p.m. New York time on the later of, (x) with respect to an Initial Public Offering, the second (2nd) Banking Day immediately following the Conversion Time, and (y) the second (2nd) Trading Day following the day on which the holder delivers to the Company settlement instructions pursuant to sub-clause (1) above. The holder at the Conversion Time in connection with an Initial Public Offering pursuant to Section 2.2(b)(ii) shall be treated for all purposes as the beneficial owner of such Conversion Shares as of such Conversion Time. From and after the time at which the Conversion Shares are delivered to the holder in accordance with the immediately preceding sentence, this Note (or the portion hereof representing such Conversion Shares) shall be deemed to be satisfied by the Company and shall cease to be outstanding for any purpose whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Section 2.2 of the Note Purchase Agreement is hereby amended to add the following new clause(s):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &nbsp;&nbsp;&nbsp;&nbsp;Delays. Without limiting any of the foregoing, if the holder fails promptly to (i) deliver instructions for delivery of the Conversion Shares and (ii) surrender this Note to the Company (or in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Company) by the second (2nd) Banking Day immediately preceding the Conversion Time, the Company will still be deemed to have converted this Note at such Conversion Time and shall hold, for the benefit of the holder, the Conversion Shares or any other securities issued in exchange for, or upon conversion of, such Conversion Shares until receipt of the requisite delivery instructions and the Note (or indemnification in accordance with this Section 2.2).

**SECTION 4.Effectiveness; Conditions Precedent.** This Agreement shall be effective upon (i) receipt by the Company and the Specified Lender of copies of this Agreement duly executed by the Company and the Specified Lender constituting the Required Lenders and (ii) receipt by the Company of copy of the consent of the Majority Note Holders and the amendment to the Junior Note Purchase Agreement duly executed by the Company and the Majority Notes Holders (such date on which both conditions are satisfied, the "***Effective Date***").

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**SECTION 5.Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 6.Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remains unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

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**IN WITNESS WHEREOF,** the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

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| |
|:---|
| **Company:** |
| **NEUTRON HOLDINGS, INC.** |
| /s/ Susie Giordano |
| Name: Susie Giordano |
| Title: Chief Legal Officer and Corporate Secretary |

---

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| |
|:---|
| **Specified Lender:** |
| **UBER TECHNOLOGIES, INC.** |
| /s/ Elizabeth Coleman |
| Name: Elizabeth Coleman |
| Title: VP, Deputy General Counsel and Deputy Corporate Secretary |

---

## Exhibit 4.4

**Exhibit 4.4**

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>UBER SUBORDINATION</u> <u>AGREEMENT</u>"), BY AND AMONG UBER TECHNOLOGIES, INC. AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC.

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>BMO SUBORDINATION</u> <u>AGREEMENT</u>"), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC.

**NOTE AND WARRANT PURCHASE AGREEMENT**

THIS NOTE AND WARRANT PURCHASE AGREEMENT ("<u>Agreement</u>") is made as of May 7, 2020, by and among **Neutron Holdings, Inc.**, a Delaware corporation (the "<u>Company</u>"), and the lenders (each individually a "<u>Lender</u>," and collectively the "<u>Lenders</u>") named on the Schedule of Lenders attached hereto (the "<u>Schedule of Lenders</u>"). Capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to them in Section 1 below.

**WHEREAS**, each Lender intends to provide certain Consideration to the Company as described for each Lender on the Schedule of Lenders;

**WHEREAS**, the parties wish to provide for the sale and issuance of such Notes and Warrants in return for the provision by the Lenders of the Consideration to the Company; and

**WHEREAS**, the parties intend for the Company to issue in return for the Consideration one or more Notes and Warrants to purchase shares of the Company's Equity Securities.

**NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Consideration</u>" shall mean the amount of money paid by each Lender pursuant to this Agreement as shown on the Schedule of Lenders.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Shares</u>" shall, for purposes of determining the type of Equity Securities issuable upon conversion of the Notes, mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;if the Notes are converted to equity pursuant to Section 2.2(a) below, Series 2 Preferred Stock of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if the Notes are converted to equity pursuant to Section 2.2(b) below, shares of Common Stock.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Conversion Price</u>" shall mean the quotient of (1) the Valuation Cap divided by (2) the fully-diluted capitalization of the Company as of 90 days following the initial Closing (assuming conversion, exercise, and exchange of all convertible, exercisable, and exchangeable capital stock of the

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Company, including shares available for issuance under any equity incentive or similar plan and the shares to be issued upon conversion of the Notes) (the "<u>Fully Diluted Capitalization</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;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate Transaction</u>" shall mean any transaction defined as a "Deemed Liquidation Event" in the Company's current Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Equity Securities</u>" shall mean the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Initial Public Offering</u>" or "<u>IPO</u>" shall mean the closing of the issuance and sale of shares of Equity Securities of the Company in the Company's first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "<u>Act</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;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Majority Note Holders</u>" shall mean the holders of a majority in interest of the aggregate principal amount of Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Maturity Date</u>" shall be as set forth in each Note (as defined 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Notes</u>" shall mean the one or more promissory notes issued to each Lender pursuant to Section 2.1 below, the form of which is attached hereto as <u>Exhibit A</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;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Uber</u>" will mean Uber Technologies, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Valuation Cap</u>" means the sum of (1) $340,000,000 plus (2) the aggregate Consideration under this Agreement plus (3) the aggregate amount paid by Uber pursuant to that certain Note Purchase Agreement, by and between the Company and Uber, dated as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp; "<u>Warrants</u>" shall mean one or more warrants issued pursuant to Section 3 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;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Warrant Coverage Amount</u>" shall mean, with respect to any particular Warrant issued to a Lender, ten percent (10%) of the principal amount of the Note issued to such Lender in conjunction with such Warrant, such principal amount not to exceed such Lender's Note Allocation (as defined in the exchange agreement in the form attached hereto as <u>Exhibit C</u> (the "<u>Exchange</u> <u>Agreement</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;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Warrant Exercise Price</u>" shall mean $0.01 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount and Terms of the Notes</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;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Secured Notes</u>. In return for the Consideration paid by each Lender, the Company shall sell and issue to such Lender one or more secured Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Lender for the Note, as set forth in the Schedule of Lenders. Each Note shall be convertible into Conversion Shares pursuant to Section 2.2 below and shall be secured by the assets of the Company as described in such Notes and any related security agreement.

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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;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert Notes</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion</u>. The principal of any Note (the "<u>Conversion Balance</u>"), may be converted, at the option of the holder thereof, into Conversion Shares. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Conversion Balance on a Note to be converted on the date of conversion by the Conversion Price. Accrued interest on any Note (the "<u>Interest Balance</u>") may be converted into shares of Common Stock or paid in cash, at the option of the Company. If the Company elects to convert all or any portion of the Interest Balance into shares of Common Stock, the number of shares of Common Stock to be issued upon such conversion shall be equal to the quotient obtained by dividing the portion of the Interest Balance converted by the fair market value of a share of Common Stock on the date of conversion, as determined in good faith by the Board of Directors of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Transaction or IPO</u>. In the event of a Corporate Transaction or Initial Public Offering prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at Lender's election, be (i) due and payable in full prior to the closing of the Corporate Transaction or Initial Public Offering or (ii) be converted into Conversion Shares at the Conversion Price.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Shares</u>. Upon the conversion of a Note into Conversion Shares, in lieu of any fractional shares to which the holder of the Note would otherwise be entitled, the Company shall pay the Note holder cash equal to such fraction multiplied by the Conversion Price.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Mechanics of Conversion</u>. Before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Initial Public Offering or Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Warrants</u>. Upon the Closing (as defined in Section 4.1 below), and in return for the Company's receipt of the principal amount of the Notes, certain Lenders shall receive a warrant to purchase shares of the Company's Common Stock in the form attached hereto as <u>Exhibit B</u> (the "<u>Warrant</u>"). Lenders will receive a Warrant only if (a) such Lender is an existing stockholder of the Company, (b) the Closing of the Lenders' Note occurs within 20 business days of the initial Closing. Each Warrant shall be exercisable for that number of shares (the "<u>Warrant Shares</u>") of Common Stock determined by dividing (i) the Warrant Coverage Amount by (ii) the Valuation Cap divided by the Fully Diluted Capitalization. The exercise price for the Warrant Shares purchasable upon exercise of the Warrants shall be equal to the Warrant Exercise Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Mechanics</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;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing</u>. The initial closing (the "<u>Closing</u>") of the purchase of the Notes and issuance of the Warrants in return for the Consideration paid by each Lender shall take place remotely via the exchange of signatures on the date hereof, or at such other time and place as the Company and Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Closing agree upon orally or in writing. At the Closing, each Lender shall deliver the Consideration to the Company and the Company shall deliver to each Lender one or more executed Notes and Warrants in return for the respective Consideration provided to the Company.

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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;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsequent Closings</u>. In any subsequent closing (each a "<u>Subsequent Closing</u>"), the Company may sell additional Notes and Warrants subject to the terms of this Agreement to any Lender as it shall select, <u>provided</u> that (a) such sale shall not take place later than 90 days after the initial Closing, (b) the aggregate amount of Consideration does not exceed $85,000,000. Any subsequent purchasers of Notes and Warrants shall become a party to, and shall be entitled to receive Notes and Warrants in accordance with this Agreement. Each Subsequent Closing shall take place at such locations and at such times as shall be mutually agreed upon orally or in writing by the Company and such purchasers of additional Notes and Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Exchange</u>. In the event an existing holder of shares of Common Stock of the Company issued upon conversion of shares of preferred stock of the Company (a "<u>Existing Preferred</u> <u>Holder</u>") purchases a Note, such Existing Preferred Holder may enter into an agreement with the Company exchanging certain shares of the Existing Preferred Holder's Common Stock of the Company for shares of Series 1 Stock of the Company (as defined in the Ninth Amended and Restated Certificate of Incorporation on file with the Secretary of State of the State of Delaware), on the terms set forth in the Exchange Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lenders that:

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Organization, Good Standing and Qualification</u>. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with any Corporate Transaction or Initial Public Offering, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement and the Notes and the Warrants. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Agreement, the Notes and the Warrants, the valid and enforceable obligations they purport to be. Except as otherwise indicated in this Section 5.2, the issuance of the Notes, or their subsequent conversion into Conversion Shares, will not be subject to the preemptive rights of any stockholder of the Company. The Company has authorized sufficient shares of Series 3 Preferred Stock, Series 2 Preferred Stock, and Common Stock to allow for conversion of the Notes and exercise of the Warrants as described in Section 2.2 and Section 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments</u>. Neither the authorization, execution and delivery of this Agreement, nor the issuance and delivery of the Notes and the Warrants will constitute or result in a material default or violation of any law or regulation applicable to the Company or any material term or provision of the Company's current Certificate of Incorporation or bylaws or any material agreement or instrument by which it is bound or to which its properties or assets are subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Valid Issuance of Common Stock and Preferred Stock.</u> The Warrant Shares to be issued, sold and delivered in accordance with the terms of the Warrants will be duly authorized and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities

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laws. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities 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;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance on other Representations and Warranties.</u> The Lenders will be entitled to rely on the representations and warranties made to Uber pursuant to that certain Note Purchase Agreement by and between the Company and Uber dated on or around the date hereof (the "<u>Uber NPA</u>") as if the Lenders were a party to such agreement, <u>provided</u> <u>however</u>, that any such reliance is limited solely to the representations and warranties made in Section 4 of the Uber NPA, and no other portion of the Uber NPA, and waiver of breach of such representations and warranties by Uber will be effective and binding as a waiver by all parties, including the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Lenders</u>. In connection with the transactions provided for herein, each Lender hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. This Agreement constitutes such Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Lender represents that it has full power and authority to enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Entirely for Own Account</u>. Each Lender acknowledges that this Agreement is made with Lender in reliance upon such Lender's representation to the Company that the Notes, the Warrants, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "<u>Securities</u>") will be acquired for investment for Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Lender further represents that such Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Each Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Securities. Each Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Each Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Lender also represents it has not been organized solely for the purpose of acquiring the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor.</u> Each Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "<u>SEC</u>"), as presently in 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;6.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Securities.</u> Each Lender understands that the Securities are characterized as "restricted securities" under the federal securities laws inasmuch as they are being

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acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act only in certain limited circumstances. Each Lender represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, each Lender further agrees not to make any disposition of all or any portion of the Securities unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Section 6, Section 9.11 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Lender has notified the Company of the proposed disposition and has furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and (ii) if reasonably requested by the Company, Lender shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in extraordinary circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. It is understood that the Securities may bear the following legend:

"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT."

"THIS NOTE IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>SUBORDINATION AGREEMENT</u>"), BY AND AMONG UBER TECHNOLOGIES, INC. AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC."

"THIS NOTE IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT, DATED AS OF MAY 7, 2020 (AS AMENDED, RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE "<u>SUBORDINATION AGREEMENT</u>"), BY AND AMONG THE BANK OF MONTREAL AS THE SENIOR LENDER, THE OTHER CREDITORS PARTY THERETO AS THE SUBORDINATED LENDERS AND NEUTRON HOLDINGS, INC."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>State Commissioners of Corporations</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;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>California Corporate Securities Law</u>. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaults and Remedies</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;8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. The following events shall be considered "Events of Default" with respect to each Note:

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than thirty (30) days after the Maturity Date or at a date fixed by acceleration or otherwise;

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation of the Company;

&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)&nbsp;&nbsp;&nbsp;&nbsp;Within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated;

&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)&nbsp;&nbsp;&nbsp;&nbsp;Any default or defined event of default that has not otherwise been cured or forgiven shall occur under any agreement to which the Company or any of its subsidiaries is a party that evidences indebtedness of $10,000,000 or more; 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes, the Warrants or the Security Agreement within 30 days after written notice from the Majority Note Holders to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>. Upon the occurrence of an Event of Default under Section 8.1 hereof, at the option and upon the declaration of the holder of a Note, the entire unpaid principal and accrued and unpaid interest on such Note shall, without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and such holder may, immediately and

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without expiration of any period of grace, enforce payment of all amounts due and owing under such Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</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;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties, <u>provided</u>, <u>however</u>, that the Company may not assign its obligations under this Agreement without the written consent of the Majority Note Holders. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement, the Notes and the Warrants shall be governed by and construed under the laws of the State of California as applied to agreements among California residents, made and to be performed entirely within the State of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement 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.

&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&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not so confirmed, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 9.5):

If to the Company:

**Neutron Holdings, Inc.**

85 2<sup>nd</sup> Street

San Francisco, CA 94105

Attention: Legal Department

If to Lenders:

At the respective addresses shown on the signature pages hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature

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of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Expenses</u>. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. The Company shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement; Amendments and Waivers</u>. This Agreement and the Notes and the Warrants and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. The Company's agreements with each of the Lenders are separate agreements, and the sales of the Notes and the Warrants to each of the Lenders are separate sales. Nonetheless, any term of this Agreement, the Notes or the Warrants may be amended and the observance of any term of this Agreement, the Notes or the Warrants may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Majority Note Holders, <u>provided</u> <u>however</u>, that any change to the terms of conversion of the Notes (including without limitation, the definitions of Conversion Price or Valuation Cap) will also require the consent of Uber. Any waiver or amendment effected in accordance with this Section shall be binding upon each party to this Agreement and any holder of any Note or Warrant purchased under this Agreement at the time outstanding and each future holder of all such Notes or Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment or Waiver</u>. Each Lender acknowledges that by the operation of Section 9.8 hereof, the Majority Note Holders will have the right and power to diminish or eliminate all rights of such Lender under this Agreement and each Note and Warrant issued to such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its 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;9.11&nbsp;&nbsp;&nbsp;&nbsp;"<u>Market Stand-Off" Agreement</u>. Each Lender hereby agrees that it will be bound by Section 2.11 of that certain Amended and Restated Investors' Rights Agreement by and among the Company, the Lenders, and certain other investors, dated on or around the date hereof, as amended from time-to-time (the "<u>Investors' Rights Agreement</u>"), and agrees that a legend reading substantially as set forth in Section 2.12(b) of the Investors Rights Agreement will be placed on all certificates representing all Conversion Shares of each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Purchase Agreement</u>. Each Lender understands and agrees that the conversion of the Notes into and exercise of the Warrants for Conversion Shares may require such Lender's execution of certain agreements (in form reasonably agreeable to the Lender) relating to the purchase and sale of such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpation Among Lenders</u>. Each Lender acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Lender agrees that no other Lender nor the respective controlling persons, officers, directors, partners, agents,

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stockholders or employees of any other Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that each Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company or as a result of any splits, recapitalizations, combinations or other similar transaction affecting the Common Stock or Preferred Stock underlying the Conversion Shares that occur prior to the conversion of the Notes or exercise of the Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurance</u>. From time to time, the Company shall execute and deliver to the Lenders such additional documents and shall provide such additional information to the Lenders as any Lender may reasonably require to carry out the terms of this Agreement and the Notes and any agreements executed in connection herewith or therewith, or to be informed of the financial and business conditions and prospects of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Conflicts</u>. In the event of any conflict between the provisions of this Agreement and the provisions of the Uber Subordination Agreement or the BMO Subordination Agreement, the provisions of the Uber Subordination Agreement or the BMO Subordination Agreement, as applicable, shall govern.

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

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| | |
|:---|:---|
| **BORROWER:** | **BORROWER:** |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By:  | /s/ Wayne Ting |
| Print Name: Wayne Ting | Print Name: Wayne Ting |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

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**SIGNATURE PAGE TO PURCHASE AGREEMENT**

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

**SIGNATURE PAGE TO PURCHASE AGREEMENT**

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| | |
|:---|:---|
| **LENDERS:**  | **LENDERS:**  |
| **GV 2019, L.P.** | **GV 2019, L.P.** |
| By: GV 2019 GP, L.P., its General Partner | By: GV 2019 GP, L.P., its General Partner |
| By: GV 2019 GP, L.L.C., its General Partner | By: GV 2019 GP, L.L.C., its General Partner |
| By: | /s/ Daphne Chang |
| Print Name: Daphne Chang | Print Name: Daphne Chang |
| Title: Authorized Signatory  | Title: Authorized Signatory  |
| **ALPHABET HOLDINGS LLC**  | **ALPHABET HOLDINGS LLC**  |
| By: | /s/ Kenneth H. Yi |
| Print Name: Kenneth H. Yi | Print Name: Kenneth H. Yi |
| Title: President | Title: President |
| **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** | **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** |
| By: Institutional Venture Management Holdings XVI, LLC<br>Its: General Partner | By: Institutional Venture Management Holdings XVI, LLC<br>Its: General Partner |
| By: Institutional Venture Management XVI, LC Its: Manager | By: Institutional Venture Management XVI, LC Its: Manager |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Somesh Dash |
| Print Name: Somesh Dash | Print Name: Somesh Dash |
| Title: Managing Director | Title: Managing Director |
| **BAIN CAPITAL VENTURE FUND 2019, L.P.** | **BAIN CAPITAL VENTURE FUND 2019, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general partner | By: Bain Capital Venture Investors 2019, LLC, its general partner |
| By: Bain Capital Venture Investors, LLC, its manager | By: Bain Capital Venture Investors, LLC, its manager |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Sarah Smith  |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director  | Title: Managing Director  |
| **BCV 2019-MD PRIMARY, L.P.** | **BCV 2019-MD PRIMARY, L.P.** |
| By: Bain Capital Venture Investors 2019, LLC, its general partner | By: Bain Capital Venture Investors 2019, LLC, its general partner |

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| | |
|:---|:---|
| By: Bain Capital Venture Investors, LLC, its manager | By: Bain Capital Venture Investors, LLC, its manager |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director  | Title: Managing Director  |
| **BCIP VENTURE ASSOCIATES II, L.P.** | **BCIP VENTURE ASSOCIATES II, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |
| **BCIP VENTURE ASSOCIATES II-B, L.P.** | **BCIP VENTURE ASSOCIATES II-B, L.P.** |
| By: Boylston Coinvestors, LLC, its General Partner | By: Boylston Coinvestors, LLC, its General Partner |
| By: | /s/ Sarah Smith |
| Print Name: Sarah Smith | Print Name: Sarah Smith |
| Title: Managing Director | Title: Managing Director |
| **FIFTH WALL VENTURES, L.P.** | **FIFTH WALL VENTURES, L.P.** |
| By: Fifth Wall Ventures GP, LLC<br>Its: General Partner | By: Fifth Wall Ventures GP, LLC<br>Its: General Partner |
| By: | /s/ Brendan Wallace  |
| Print Name: Brendan Wallace | Print Name: Brendan Wallace |
| Title: Managing Director | Title: Managing Director |
| **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC | **UZ MICROMOBILITY PROJECT, SPV I, A** <br>**SERIES OF UZ MANAGEMENT CAPITAL, LLC**<br>By: UZ Micromobility Management, LLC |
| By: | /s/ Pablo Massana |
| Print Name: Pablo Massana | Print Name: Pablo Massana |
| Title: Manager | Title: Manager |
| By: | /s/ David Gannon |

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 Print Name: David Gannon <br> Title: Director, Theoden Director Services Limited for and on behalf of Winterfell Limited

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| | |
|:---|:---|
| **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** | **GREENOAKS CAPITAL OPPORTUNITIES FUND, L.P.** |
| By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner | By: Greenoaks Capital (MTGP), L.P., its general partner<br>By: Greenoaks Capital (TTGP), Ltd., its general partner |
| By: | /s/ Benjamin Peretz |
| Print Name: Benjamin Peretz | Print Name: Benjamin Peretz |
| Title: Director  | Title: Director  |
| **FRANKLIN BLACKHORSE, L.P.** | **FRANKLIN BLACKHORSE, L.P.** |
| By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member | By: Franklin Venture Partners, LLC Blackhorse Series, a Delaware series limited liability company<br>By: Franklin Advisers, Inc., a California corporation, its Managing Member |
| By: | /s/ Michael McCarthy |
| Print Name: Michael McCarthy | Print Name: Michael McCarthy |
| Title: EVP | Title: EVP |
| **137 Ventures IV, LP, a Delaware limited partnership** | **137 Ventures IV, LP, a Delaware limited partnership** |
| By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner | By: 137 Ventures IV, LLC, a Delaware limited liability company as general partner |
| By: | /s/ Andrew P. Laszlo |
| Name: Andrew P. Laszlo  | Name: Andrew P. Laszlo  |
| Title: Managing Member | Title: Managing Member |
| **IQ HOLDINGS LIMITED** | **IQ HOLDINGS LIMITED** |
| By: | /s/ Mara Alido-Spencer |
| Name: Mara Alido-Spencer | Name: Mara Alido-Spencer |
| Title: Authorised Signatory  | Title: Authorised Signatory  |
| **SALIX INVESTMENTS, LLC** | **SALIX INVESTMENTS, LLC** |
| By: | /s/ Erron Smith |
| Name: Erron Smith | Name: Erron Smith |
| Title: Secretary | Title: Secretary |

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| | |
|:---|:---|
| **BAKER FAMILY TRUST** | **BAKER FAMILY TRUST** |
| By: | /s/ Edward Baker |
| Name: Edward Baker | Name: Edward Baker |
| Title: Trustee | Title: Trustee |
| **SUTTER ROCK CAPITAL CORP.** | **SUTTER ROCK CAPITAL CORP.** |
| By: | /s/ Mark Klein |
| Name: Mark Klein | Name: Mark Klein |
| Title: Chief Executive Officer | Title: Chief Executive Officer |
| **DING ZHOU LIVING TRUST** | **DING ZHOU LIVING TRUST** |
| By: | /s/ Ding Zhou |
| Name: Ding Zhou | Name: Ding Zhou |
| Title: Trustee | Title: Trustee |
| **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member | **GREEN BAY VENTURES, LLC**<br>By: Green Bay Ventures Manager, LLC<br>Its: Managing Member<br>By: Green Bay Advisors Venture, LLC<br>Its: Managing Member |
| By: | /s/ Anthony Schiller |
| Name: Anthony Schiller | Name: Anthony Schiller |
| Title: Managing Member | Title: Managing Member |
| **WELIGHT CAPITAL L.P.** | **WELIGHT CAPITAL L.P.** |
| By: | /s/ WU XTAOGUANG |
| Name: WU XTAOGUANG | Name: WU XTAOGUANG |
| Title: Director | Title: Director |
| **ASCOLTA VENTURES, LLC** | **ASCOLTA VENTURES, LLC** |
| By: | /s/ Daniel J. Bergeson |
| Name: Daniel J. Bergeson | Name: Daniel J. Bergeson |
| Title: Managing Partner | Title: Managing Partner |
| By: | /s/ Myles B. Shear |
| Name: CASUAL MGMT. LLC. - Myles B. Shear | Name: CASUAL MGMT. LLC. - Myles B. Shear |
| Title: MGRM | Title: MGRM |

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| | |
|:---|:---|
| **LVC AM LLC** | **LVC AM LLC** |
| By:  | /s/ Michael J. Sharp |
| Name: Michael J. Sharp | Name: Michael J. Sharp |
| Title: Authorized Person | Title: Authorized Person |

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| | |
|:---|:---|
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (SBST)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** | **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **WEST INVESTMENTS V, LLC** | **WEST INVESTMENTS V, LLC** |
| By: | /s/ Robert P Hrtica |
| Name: Robert P Hrtica | Name: Robert P Hrtica |
| Title: Manager | Title: Manager |
| **YOUWEB LLC** | **YOUWEB LLC** |
| By: | /s/ A. Peter Relan |
| Name: A. PETER RELAN | Name: A. PETER RELAN |
| Title: Managing Member | Title: Managing Member |
| By: | /s/ Yu Wang |
| Name: Yu Wang | Name: Yu Wang |
| Title: | Title: |

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| | |
|:---|:---|
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** | **FIDELITY BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY FLEX LARGE CAP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** | **FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH K6 FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** | **FIDELITY BLUE CHIP GROWTH INSTITUTIONAL TRUST** |
| By its manager Fidelity Investments Canada ULC | By its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY SECURITIES FUND: FIDELITY SERIES BLUE CHIP GROWTH FUND** | **FIDELITY SECURITIES FUND: FIDELITY SERIES BLUE CHIP GROWTH FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |

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| | |
|:---|:---|
| **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** | **FIAM TARGET DATE BLUE CHIP GROWTH COMMINGLED POOL** |
| By: Fidelity Institutional Asset Management Trust Company as Trustee | By: Fidelity Institutional Asset Management Trust Company as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY PURITAN TRUST: FIDELITY PURITAN FUND** | **FIDELITY PURITAN TRUST: FIDELITY PURITAN FUND** |
| By: | /s/ Chris Maher |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher, Authorized Signatory | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher, Authorized Signatory |
| **FIDELITY FOUNDERS INVESTMENT TRUST** | **FIDELITY FOUNDERS INVESTMENT TRUST** |
| By its manager Fidelity Investments Canada ULC | By its manager Fidelity Investments Canada ULC |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **VARIABLE INSURANCE PRODUCTS** <br>**FUND III: GROWTH OPPORTUNITIES PORTFOLIO** | **VARIABLE INSURANCE PRODUCTS** <br>**FUND III: GROWTH OPPORTUNITIES PORTFOLIO** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** | **FIDELITY ADVISOR SERIES I: FIDELITY ADVISOR SERIES GROWTH OPPORTUNITIES FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |

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| | |
|:---|:---|
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY SERIES GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY GROWTH COMPANY COMMINGLED POOL** | **FIDELITY GROWTH COMPANY COMMINGLED POOL** |
| By: Fidelity Management Trust Company, as Trustee | By: Fidelity Management Trust Company, as Trustee |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6** <br>**FUND** | **FIDELITY MT. VERNON STREET TRUST: FIDELITY GROWTH COMPANY K6** <br>**FUND** |
| By: | /s/ Chris Maher |
| Chris Maher, Authorized Signatory | Chris Maher, Authorized Signatory |
| By: | /s/ Samih Toukan |
| Name: Samih Toukan | Name: Samih Toukan |

---

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| | |
|:---|:---|
| **ALPHA ANNEX CITRUS FUND LLC – SERIES II** | **ALPHA ANNEX CITRUS FUND LLC – SERIES II** |
| By: Alpha Ventures Partners LLC, its manager | By: Alpha Ventures Partners LLC, its manager |
| By: | /s/ Stephen B. Brotman |
| Name: Stephen B. Brotman | Name: Stephen B. Brotman |
| Title: Manager | Title: Manager |
| **ALRAI HOLDINGS LIMITED** | **ALRAI HOLDINGS LIMITED** |
| By: | /s/ Vinay Menda |
| Name: Vinay Menda | Name: Vinay Menda |
| Title: Authorized Signatory | Title: Authorized Signatory |

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| | |
|:---|:---|
| **AMERICAN INVESTMENT HOLDINGS LLC** | **AMERICAN INVESTMENT HOLDINGS LLC** |
| By: | /s/ Jeffrey N. Vinik |
| Name: Jeffrey N. Vinik | Name: Jeffrey N. Vinik |
| Title: Chairman and Managing Member | Title: Chairman and Managing Member |
| **AH PARALLEL FUND V, L.P.** | **AH PARALLEL FUND V, L.P.** |
| for itself and as nominee for  | for itself and as nominee for  |
| AH Parallel Fund V-A, L.P., | AH Parallel Fund V-A, L.P., |
| AH Parallel Fund V-B, L.P., and  | AH Parallel Fund V-B, L.P., and  |
| AH Parallel Fund V-Q, L.P. | AH Parallel Fund V-Q, L.P. |
| By: AH Equity Partners V (Parallel), L.L.C.  | By: AH Equity Partners V (Parallel), L.L.C.  |
| Its general partner | Its general partner |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **ANDREESEN HOROWITZ FUND IV, L.P.** | **ANDREESEN HOROWITZ FUND IV, L.P.** |
| for itself and as nominee for  | for itself and as nominee for  |
| Andreessen Horowitz Fund IV-A, L.P., | Andreessen Horowitz Fund IV-A, L.P., |
| Andreessen Horowitz Fund IV-B, L.P. and  | Andreessen Horowitz Fund IV-B, L.P. and  |
| Andreessen Horowitz Fund IV-Q, L.P. | Andreessen Horowitz Fund IV-Q, L.P. |
| By: AH Equity Partners V, L.L.C.  | By: AH Equity Partners V, L.L.C.  |
| Its general partner | Its general partner |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **CONSW1, L.P.** | **CONSW1, L.P.** |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **CLF PARTNERS, L.P.** | **CLF PARTNERS, L.P.** |
| By: | /s/ Scott Kupor |
| Name: Scott Kupor | Name: Scott Kupor |
| Title: COO | Title: COO |

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| | |
|:---|:---|
| **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** | **THE SAM BARSHOP GRANDCHILDREN IRREVOCABLE TRUST** |
| By: | /s/ Bruce Barshop |
| Name: Bruce Barshop | Name: Bruce Barshop |
| Title: Trustee | Title: Trustee |
| **MOUNT HURON VENTURES, LLC** | **MOUNT HURON VENTURES, LLC** |
| By: | /s/ Peter Smith |
| Name: Peter Smith | Name: Peter Smith |
| Title: COO | Title: COO |
| **IOSTESSO HOLDINGS INC.** | **IOSTESSO HOLDINGS INC.** |
| By: | /s/ Charles Flicker |
| Name: Charles Flicker | Name: Charles Flicker |
| Title: Assistant-Secretary | Title: Assistant-Secretary |
| **M. BRADLEY SMITH AND MICHELE L. TRUFELLI LIVING TRUST** | **M. BRADLEY SMITH AND MICHELE L. TRUFELLI LIVING TRUST** |
| By: | /s/ M Bradley Smith |
| Name: M Bradley Smith | Name: M Bradley Smith |
| Title: Manager | Title: Manager |
| **MONTEZUMA FUND II LP** | **MONTEZUMA FUND II LP** |
| By: | /s/ Matt Wiles |
| Name: Matt Wiles | Name: Matt Wiles |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **MONTEZUMA FUND III LP** | **MONTEZUMA FUND III LP** |
| By: | /s/ Matt Wiles |
| Name: Matt Wiles | Name: Matt Wiles |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **MATTHEW K. SMITH REVOCABLE TRUST** | **MATTHEW K. SMITH REVOCABLE TRUST** |
| By: | /s/ Matthew Smith |
| Name: Matthew Smith  | Name: Matthew Smith  |
| Title: President | Title: President |

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| | |
|:---|:---|
| **PENTLAND GROUP LIMITED** | **PENTLAND GROUP LIMITED** |
| By: | /s/ B A Mosheim |
| Name: B A Mosheim  | Name: B A Mosheim  |
| Title: Director | Title: Director |
| **THE ADAM SCHWARTZ REVOCABLE TRUST** | **THE ADAM SCHWARTZ REVOCABLE TRUST** |
| By: | /s/ Adam Schwartz |
| Name: Adam Schwartz | Name: Adam Schwartz |
| Title: Trustee | Title: Trustee |
| **LIGHTVC, LTD.** | **LIGHTVC, LTD.** |
| By: | /s/ Elaine Saverin |
| Name: Elaine Saverin | Name: Elaine Saverin |
| Title: Director | Title: Director |
| **DAXN, Inc.** | **DAXN, Inc.** |
| By: | /s/ Daniel L. Dominguez |
| Name: Daniel L. Dominguez | Name: Daniel L. Dominguez |
| Title: President | Title: President |
| **LI FUND II, A SERIES OF FJ LABS FUNDS, LP** | **LI FUND II, A SERIES OF FJ LABS FUNDS, LP** |
| By: | /s/ Fabrice Grinda |
| Name: Fabrice Grinda | Name: Fabrice Grinda |
| Title: Authorized Person of the General Partner | Title: Authorized Person of the General Partner |
| **Next Play Capital II, L.P.** | **Next Play Capital II, L.P.** |
| By: Next Play Capital GP II, LLC | By: Next Play Capital GP II, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |

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| | |
|:---|:---|
| **NPC Lime, LLC** | **NPC Lime, LLC** |
| By: Next Play Capital GP II, LLC | By: Next Play Capital GP II, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Eric Valle |
| Name: Eric Valle | Name: Eric Valle |
| Title: Operating Partner | Title: Operating Partner |
| **ACP Venture Capital Fund II LLC** | **ACP Venture Capital Fund II LLC** |
| By: | /s/ Anthony Simone |
| Name: Anthony Simone | Name: Anthony Simone |
| Title: Manager | Title: Manager |
| **Akkadian Ventures IV, LP** | **Akkadian Ventures IV, LP** |
| By: Akkadian Ventures GP IV, LLC | By: Akkadian Ventures GP IV, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Mike Gridley |
| Name: Mike Gridley | Name: Mike Gridley |
| Title: Managing Director | Title: Managing Director |
| **AME CLOUD VENTURES, LLC** | **AME CLOUD VENTURES, LLC** |
| By: | /s/ Gregory R. Hardester |
| Name: Gregory R. Hardester | Name: Gregory R. Hardester |
| Title: Manager | Title: Manager |
| **The Back Family Trust** | **The Back Family Trust** |
| By: | /s/ Gregory F. Back |
| Name: Gregory F. Back | Name: Gregory F. Back |
| Title: Trustee | Title: Trustee |
| **BAO TRUST DATED MAR-10 2020** | **BAO TRUST DATED MAR-10 2020** |
| By: | /s/ Zhoujia Bao |
| Name: Zhoujia Bao | Name: Zhoujia Bao |
| Title: Trustee | Title: Trustee |

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| | |
|:---|:---|
| **Basis Set Ventures I, L.P.** | **Basis Set Ventures I, L.P.** |
| By: Basis Set Ventures GP I, LLC | By: Basis Set Ventures GP I, LLC |
| Its: General Partner | Its: General Partner |
| By: | /s/ Xuezhao Lan |
| Name: Xuezhao Lan | Name: Xuezhao Lan |
| Title: Managing Member | Title: Managing Member |
| **Bling Capital Fund I Opps L.P.** | **Bling Capital Fund I Opps L.P.** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Bling Capital Fund I Opps-A L.P.** | **Bling Capital Fund I Opps-A L.P.** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Bling Capital SPV A Neutron Holdings LP** | **Bling Capital SPV A Neutron Holdings LP** |
| By: | /s/ Ben Ling |
| Name: Ben Ling | Name: Ben Ling |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **BMW I VENTURES SCS, SICAV RAIF,** | **BMW I VENTURES SCS, SICAV RAIF,** |
| duly represented by BMW i Ventures, Inc., itself duly represented by Michael Hammer and <br>Ulrich Quay | duly represented by BMW i Ventures, Inc., itself duly represented by Michael Hammer and <br>Ulrich Quay |
| By: | /s/ Michael Hammer |
| Name: Michael Hammer  | Name: Michael Hammer  |
| Title: CFO | Title: CFO |
| By: | /s/ Ulrich Quay |
| Name: Ulrich Quay  | Name: Ulrich Quay  |
| Title: President | Title: President |
| **THE BROOD, LLC — SUB FUND 1** | **THE BROOD, LLC — SUB FUND 1** |
| By: Hillspire, LLC, its Manager | By: Hillspire, LLC, its Manager |
| By: | /s/ Maria Seferian |
| Name: Maria Seferian | Name: Maria Seferian |
| Title: General Counsel | Title: General Counsel |

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| | |
|:---|:---|
| By: | /s/ Carolyn Bao |
| Name: Carolyn Bao | Name: Carolyn Bao |
| **The Lu Daisy Li Living Trust** | **The Lu Daisy Li Living Trust** |
| By: | /s/ Lu Li |
| Name: Lu Li | Name: Lu Li |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **DCM Opportunity Fund II, L.P.** | **DCM Opportunity Fund II, L.P.** |
| By: DCM Opportunity Fund Investment Management II, L.P., its General Partner  | By: DCM Opportunity Fund Investment Management II, L.P., its General Partner  |
| By: DCM Opportunity Fund International II, Ltd., its General Partner | By: DCM Opportunity Fund International II, Ltd., its General Partner |
| By: | /s/ Matthew C. Bonner |
| Name: Matthew C. Bonner | Name: Matthew C. Bonner |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **DG Ventures, Inc.** | **DG Ventures, Inc.** |
| By: | /s/ Masahi Tanaka |
| Name: Masahi Tanaka | Name: Masahi Tanaka |
| Title: Executive Vice President and COO | Title: Executive Vice President and COO |
| **Dream Space Limited** | **Dream Space Limited** |
| By: | /s/ Junzhang Liang |
| Name: Junzhang Liang | Name: Junzhang Liang |
| Title: Director | Title: Director |
| **Global Opportunity I, LLC the General Partner of Global Opportunity I, L.P.** | **Global Opportunity I, LLC the General Partner of Global Opportunity I, L.P.** |
| By: | /s/ Andrew Lebovitz |
| Name: Andrew Lebovitz | Name: Andrew Lebovitz |
| Title: Manager | Title: Manager |

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| | |
|:---|:---|
| **GUO & WANG Holdings Limited** | **GUO & WANG Holdings Limited** |
| By: | /s/ Ruolin Wang |
| Name: Ruolin Wang | Name: Ruolin Wang |
| Title: Director | Title: Director |
| **HMC-GSV LM, Fondo de Inversion Privado** | **HMC-GSV LM, Fondo de Inversion Privado** |
| By: | /s/ Ricardo Mogrovejo |
| Name: Ricardo Mogrovejo | Name: Ricardo Mogrovejo |
| Title: CEO | Title: CEO |
| By: | /s/ Alvaro Allende |
| Name: Alvaro Allende | Name: Alvaro Allende |
| Title: Head of Front Office | Title: Head of Front Office |
| **Hyperion Inc.** | **Hyperion Inc.** |
| By: | /s/ Qi Ga |
| Name: Qi Gao | Name: Qi Gao |
| Title: Owner and Sole Director | Title: Owner and Sole Director |
| **Intellectus Ventures, LLC** | **Intellectus Ventures, LLC** |
| By: Intellectus Partners, LLC | By: Intellectus Partners, LLC |
| Its: Managing Member | Its: Managing Member |
| By: | /s/ David J. La Placa |
| Name: David J. La Placa | Name: David J. La Placa |
| Title: Managing Member | Title: Managing Member |
| **J-Brothers-Fund-II, a series of AngelList Funds, LP** | **J-Brothers-Fund-II, a series of AngelList Funds, LP** |
| By: Fund GP, LLC its General Partner | By: Fund GP, LLC its General Partner |
| By: Belltower Fund Group, Ltd., its Manager | By: Belltower Fund Group, Ltd., its Manager |
| By: | /s/ Meghan Christenson |
| Name: Meghan Christenson | Name: Meghan Christenson |
| Title: Authorized Person | Title: Authorized Person |
| By: | /s/ JaVale McGee |
| Name: JaVale McGee | Name: JaVale McGee |

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| | |
|:---|:---|
| **JIE ZHAO** | **JIE ZHAO** |
| By: | /s/ Jie Zhao |
| Name: Jie Zhao | Name: Jie Zhao |
| **KDDI Open Innovation Fund III L.P.** | **KDDI Open Innovation Fund III L.P.** |
| By: Global Brain Corporation, its general partner | By: Global Brain Corporation, its general partner |
| By: | /s/ Yasuhiko Yurimoto |
| Name: Yasuhiko Yurimoto | Name: Yasuhiko Yurimoto |
| Title: President & CEO | Title: President & CEO |
| **Kevin Diestel** | **Kevin Diestel** |
| By: | /s/ Kevin Diestel |
| Name: Kevin Diestel | Name: Kevin Diestel |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Liangchi Holding** | **Liangchi Holding** |
| By: | /s/ Cher Liang |
| Name: Cher Liang | Name: Cher Liang |
| **Marbach Elevations LLC** | **Marbach Elevations LLC** |
| By: | /s/ Daniel Graf |
| Name: Daniel Graf | Name: Daniel Graf |
| Title: Sole Proprietor | Title: Sole Proprietor |
| **Math + Magic XII, LLC** | **Math + Magic XII, LLC** |
| By: | /s/ Jared Leto |
| Name: Jared Leto | Name: Jared Leto |
| Title: Member | Title: Member |
| **MERITECH CAPITAL AFFILIATES V L.P.** | **MERITECH CAPITAL AFFILIATES V L.P.** |
| By: Meritech Capital Associates V L.L.C., its General Partner | By: Meritech Capital Associates V L.L.C., its General Partner |
| By: | /s/ Paul S. Madera |
| Paul S. Madera, Managing Member | Paul S. Madera, Managing Member |

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| | |
|:---|:---|
| **MVP OPPORTUNITY FUND VI LLC** | **MVP OPPORTUNITY FUND VI LLC** |
| By: MVP Manager LLC | By: MVP Manager LLC |
| By: | /s/ Eric Brachfeld |
| Name: Eric Brachfeld | Name: Eric Brachfeld |
| Title: Manager | Title: Manager |
| **Nokia Growth Partners IV, L.P.** | **Nokia Growth Partners IV, L.P.** |
| By: NGP GP IV, LLC | By: NGP GP IV, LLC |
| Its General Partner | Its General Partner |
| By: | /s/ Monica Johnson |
| Name: Monica Johnson | Name: Monica Johnson |
| Title: Vice President | Title: Vice President |
| **O'BRIEN FAMILY 2003 TRUST** | **O'BRIEN FAMILY 2003 TRUST** |
| By: | /s/ Eric O'Brien |
| Name: Eric O'Brien | Name: Eric O'Brien |
| Title: Trustee | Title: Trustee |
| **SAV NEUTRON, LLC** | **SAV NEUTRON, LLC** |
| By: St. Augustine Capital Partners, Manager | By: St. Augustine Capital Partners, Manager |
| By: | /s/ Amanda Bush |
| Name: Amanda Bush | Name: Amanda Bush |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Section 32 Fund 1, LP** | **Section 32 Fund 1, LP** |
| By: Section 32 GP 1, LLC, its general partner | By: Section 32 GP 1, LLC, its general partner |
| By: | /s/ Jennifer L. Kercher |
| Name: Jennifer L. Kercher | Name: Jennifer L. Kercher |
| Title: Chief Operating Officer | Title: Chief Operating Officer |
| **SHARESPOST 100 FUND** | **SHARESPOST 100 FUND** |
| By: SP Investments Management, LLC | By: SP Investments Management, LLC |
| its Investment Advisor | its Investment Advisor |
| By: | /s/ Kevin Moss |
| Name: Kevin Moss | Name: Kevin Moss |
| Title: COO and Managing Director | Title: COO and Managing Director |

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| | |
|:---|:---|
| **Shen Wang Limited** | **Shen Wang Limited** |
| By: | /s/ Dong Liyong |
| Name: Dong Liyong | Name: Dong Liyong |
| **The Board of Trustees of the Leland Stanford Junior University (SEVF II)** | **The Board of Trustees of the Leland Stanford Junior University (SEVF II)** |
| By: | /s/ Sabrina Liang |
| Name: Sabrina Liang | Name: Sabrina Liang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Summer Beauty Limited** | **Summer Beauty Limited** |
| By: | /s/ Jackson Law |
| Name: Jackson Law | Name: Jackson Law |
| Title: Director | Title: Director |
| Tachyon Expedition LLC | Tachyon Expedition LLC |
| By: | /s/ Yuye Zhang |
| Name: Yuye Zhang | Name: Yuye Zhang |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Tech Partners Holdings – Lime LP** | **Tech Partners Holdings – Lime LP** |
| By: Tech Partners Holdings GP — Lime LLC | By: Tech Partners Holdings GP — Lime LLC |
| By: | /s/ Michael Cullen |
| Name: Michael Cullen | Name: Michael Cullen |
| Title: Member | Title: Member |
| **THIRTY FIVE VENTURES FUND I, LLC** | **THIRTY FIVE VENTURES FUND I, LLC** |
| By: | /s/ Rich Kleiman |
| Name: Rich Kleiman | Name: Rich Kleiman |
| Title: President | Title: President |
| **4J FAMILY TRUST** | **4J FAMILY TRUST** |
| By: | /s/ Jai Das |
| Name: Jai Das | Name: Jai Das |
| Title: Authorized Signatory | Title: Authorized Signatory |

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| | |
|:---|:---|
| **CHRISTIANE MARIA DORRELL AND DEAN VINCENT DORRELL AS TRUSTEES FOR CM & DV DORRELL SUPER FUND** | **CHRISTIANE MARIA DORRELL AND DEAN VINCENT DORRELL AS TRUSTEES FOR CM & DV DORRELL SUPER FUND** |
| By: /s/ Dean Dorrell & Christiane Dorrell | By: /s/ Dean Dorrell & Christiane Dorrell |
| Name: Dean Dorrell & Christiane Dorrell | Name: Dean Dorrell & Christiane Dorrell |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **ELLIS LEGACY LIVING TRUST** | **ELLIS LEGACY LIVING TRUST** |
| By: | /s/ James F. Ellis |
| Name: James F. Ellis | Name: James F. Ellis |
| Title: Trustee | Title: Trustee |
| **G&W HOLDING LIMITED** | **G&W HOLDING LIMITED** |
| By: | /s/ Yu Wang |
| Name: Yu Wang | Name: Yu Wang |
| Title: Owner | Title: Owner |
| **Christopher Hulls 2017 Trust** | **Christopher Hulls 2017 Trust** |
| By: | /s/ Christopher Hulls |
| Name: Christopher Hulls | Name: Christopher Hulls |
| Title: Authorized Signatory | Title: Authorized Signatory |
| **Prelude Fund, LP** | **Prelude Fund, LP** |
| By: Prelude Ventures LLC, its General Partner | By: Prelude Ventures LLC, its General Partner |
| By: | /s/ Gabriel Kra |
| Name: Gabriel Kra | Name: Gabriel Kra |
| Title: Managing Director | Title: Managing Director |
| **Valhalla Fund Pty Ltd ATF The Valhalla Fund** | **Valhalla Fund Pty Ltd ATF The Valhalla Fund** |
| By: | /s/ James Steele Synge |
| Name: James Steele Synge | Name: James Steele Synge |
| Title: Authorized Signatory | Title: Authorized Signatory |

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**CONSENT AND AMENDMENT**

THIS AMENDMENT, dated as of May 18, 2026 (this "***Agreement***"), is made by and among Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), and the undersigned Lenders hereto. (the "***Lenders***"), with respect to the Note Purchase Agreement referred to below.

<u>RECITALS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and the Lenders are parties to that certain Note Purchase Agreement, dated as of May 7, 2020 (as amended and restated, modified or supplemented from time to time, the "***Note Purchase Agreement***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, (i) the Note Purchase Agreement provides that provisions of the Note Purchase Agreement related to conversion of the Notes may be amended, waived or modified only upon the written consent of the Company, the Majority Note Holders and Uber Technologies, Inc. ("***Uber***"); and (ii) that certain Note Purchase Agreement dated May 7, 2020, by and between the Company and Uber (the "***Uber Note Purchase Agreement***") provides that provisions therein related to conversion of the Notes may be amended, waived or modified only upon the written consent of the Company, the Majority Note Holders and the Required Lenders (as defined in that Uber Note Purchase Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has requested to amend the conversion terms of the notes under the Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has requested that the Lenders consent to the amendment of the conversion terms of the notes under the Uber Note Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has or will obtain consent of the Required Lenders to amend the conversion terms of (i) the Note Purchase Agreement and (ii) the Uber Note Purchase Agreement and the Company has or will enter into such amendment to the Uber Note Purchase Agreement on or around the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Lenders, constituting the Majority Note Holders under the Note Purchase Agreement, has agreed to such requests, subject to the terms and conditions hereof.

NOW THEREFORE, accordingly, the parties hereto agree as follows.

**SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;Definitions; Interpretation.** All capitalized terms used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement.

**SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;Consent.** Subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, as of the Effective Date (as defined below), the Lenders hereby consent to the amendment of the Uber Note Purchase Agreement by the Company to match the amendments to the conversion terms of the Note Purchase Agreement described below.

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**SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;Amendment.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 1 of the Note Purchase Agreement is hereby amended by adding the following terms in alphabetical order:

"<u>Conversion Date</u>" means the date on which the Conversion Time occurs.

"<u>Conversion Time</u>" means, with respect to any Initial Public Offering that is an underwritten initial public offering, the time of the execution of the underwriting agreement entered into by the Company and the underwriters in connection with such Initial Public Offering.

"<u>Principal Market</u>" means the New York Stock Exchange, the Nasdaq Stock Market or any other national stock exchange on which the shares of Common Stock of the Company are to be listed in connection with an Initial Public Offering.

"<u>Trading Day</u>" means, with respect to any Conversion Shares, a day on which trading in the shares of Common Stock of the Company generally occurs on the Principal Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.2(b) of the Note Purchase Agreement is hereby amended and restated in its entirety to read 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;(b) <u>Corporate Transaction or IPO</u>. (i) In the event of a Corporate Transaction prior to full payment of a Note or prior to the time when a Note may be converted (as provided herein), all outstanding principal and unpaid accrued interest due on such Note shall, at the Lender's election, be (1) due and payable in full prior to the closing of the Corporate Transaction or (2) be converted into Conversion Shares at the Conversion Price. (ii) Upon the occurrence of an Initial Public Offering prior to full payment of a Note, all outstanding principal and unpaid accrued interest due on such Note shall be automatically converted in full at the Conversion Time into a number of Conversion Shares at the Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.2(d) of the Note Purchase Agreement is hereby amended and restated with the following:

&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) <u>Mechanics of Conversion</u>. (i) In connection with any conversion of this Note pursuant to <u>Sections 2.2(a)</u> or <u>2.2(b)(i)</u>, before any Note holder shall be entitled to convert the same into Conversion Shares, such holder shall give written notice to the Company of the election to convert such Notes into Conversion Shares. The Company shall not be required to issue or deliver the Conversion Shares until the Note holder has surrendered the Note to the Company. Such conversion may be made contingent upon the closing of the Corporate Transaction. (ii) In connection with any conversion of this Note pursuance to <u>Section 2.2(b)(ii)</u>, the holder shall promptly (1) deliver instructions for delivery of the Conversion Shares and (2) surrender this Note to the Company (or, in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Company) no later than the second (2<sup>nd</sup>)

------

business day immediately preceding the Conversion Time; <u>provided</u> that failure to timely deliver instructions for delivery of the Conversion Shares or to timely surrender this Note shall toll but not release the Company of its obligations hereunder or delay the Conversion Date of this Note. Upon conversion of this Note, the Company shall deliver the Conversion Shares to the holder no later than by 12:00 p.m. New York time on the later of, (x) with respect to an Initial Public Offering, the second (2<sup>nd</sup>) business day immediately following the Conversion Time, and (y) the second (2<sup>nd</sup>) Trading Day following the day on which the holder delivers to the Company settlement instructions pursuant to sub-clause (1) above. The holder at the Conversion Time in connection with an Initial Public Offering pursuant to <u>Section 2.2(b)(ii)</u> shall be treated for all purposes as the beneficial owner of such Conversion Shares as of such Conversion Time. From and after the time at which the Conversion Shares are delivered to the holder in accordance with the immediately preceding sentence, this Note (or the portion hereof representing such Conversion Shares) shall be deemed to be satisfied by the Company and shall cease to be outstanding for any purpose whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.2 of the Note Purchase Agreement is hereby amended to add the following new clause(s):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Delays</u>. Without limiting any of the foregoing, if the holder fails promptly to (i) deliver instructions for delivery of the Conversion Shares and (ii) surrender this Note to the Company (or in the case of the loss, theft or destruction of this Note, provide an indemnification undertaking with respect to this Note that is reasonably satisfactory to the Company) by the second (2<sup>nd</sup>) business day immediately preceding the Conversion Time, the Company will still be deemed to have converted this Note at such Conversion Time and shall hold, for the benefit of the holder, the Conversion Shares or any other securities issued in exchange for, or upon conversion of, such Conversion Shares until receipt of the requisite delivery instructions and the Note (or indemnification in accordance with this <u>Section 2.2</u>).

**SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Conditions Precedent.** This Agreement shall be effective upon (i) receipt by the Company and the Lenders of copies of this Agreement duly executed by the Company and the Lenders constituting the Majority Note Holders and (ii) receipt by the Company of copy of the consent of the Required Lenders and the amendment to the Uber Note Purchase Agreement duly executed by the Company and the Required Lenders (such date on which both conditions are satisfied, the "***Effective Date***").

**SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.** The provisions of Sections 9.2 and 9.16 of the Note Purchase Agreement shall apply to this Agreement, *mutatis mutandis* as of set forth herein.

**SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Note Purchase Agreement or constitute a

------

course of conduct or dealing among the parties. Except as amended hereby, the Note Purchase Agreement remains unmodified and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Headings**. Headings and captions used in this Agreement (including the Exhibits, Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. This Agreement incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts**. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. The words "execute," "execution," "signed," "signature," and words of like import in this Agreement or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**Controlling Provisions**. In the event of any inconsistencies between the provisions of this Agreement and the Note Purchase Agreement, the provisions of this Agreement shall govern and prevail.

*[Remainder of page intentionally left blank]*

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**IN WITNESS WHEREOF,** the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

---

| | |
|:---|:---|
| **Company**: | **Company**: |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| /s/ Susie Giordano | /s/ Susie Giordano |
| Name: | Susie Giordano |
| Title: | Chief Legal Officer and Corporate Secretary |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

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---

| | |
|:---|:---|
| **Lenders**: | **Lenders**: |
| **ANDREESSEN HOROWITZ FUND IV, L.P.** | **ANDREESSEN HOROWITZ FUND IV, L.P.** |
| for itself and as nominee for | for itself and as nominee for |
| Andreessen Horowitz Fund IV-A, L.P., | Andreessen Horowitz Fund IV-A, L.P., |
| Andreessen Horowitz Fund IV-B, L.P. and | Andreessen Horowitz Fund IV-B, L.P. and |
| Andreessen Horowitz Fund IV-Q, L.P. | Andreessen Horowitz Fund IV-Q, L.P. |
| By: AH Equity Partners IV, L.L.C. | By: AH Equity Partners IV, L.L.C. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Its general partner |
| By: | /s/ Andy Hill |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill | Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth | Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth |
| **AH PARALLEL FUND V, L.P.** | **AH PARALLEL FUND V, L.P.** |
| for itself and as nominee for | for itself and as nominee for |
| AH Parallel Fund V-A, L.P., | AH Parallel Fund V-A, L.P., |
| AH Parallel Fund V-B, L.P. and | AH Parallel Fund V-B, L.P. and |
| AH Parallel Fund V-Q, L.P. | AH Parallel Fund V-Q, L.P. |
| By: AH Equity Partners V (Parallel), L.L.C. | By: AH Equity Partners V (Parallel), L.L.C. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Its general partner |
| By: | /s/ Andy Hill |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill | Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth | Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth |
| **CLF PARTNERS, LP** | **CLF PARTNERS, LP** |
| By: AH Equity Partners V, L.L.C. | By: AH Equity Partners V, L.L.C. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Its general partner |
| By: | /s/ Andy Hill |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill | Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth | Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth |
| **CONSW1, L.P.** | **CONSW1, L.P.** |
| By: AH Equity Partners IV, L.L.C. | By: AH Equity Partners IV, L.L.C. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Its general partner |
| By: | /s/ Andy Hill |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill | Name:&nbsp;&nbsp;&nbsp;&nbsp;Andy Hill |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth | Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel, Venture/Growth |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

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---

| | |
|:---|:---|
| **Lenders:** | **Lenders:** |
| **Fidelity Securities Fund: Fidelity Blue Chip**<br>**Growth Fund** | **Fidelity Securities Fund: Fidelity Blue Chip**<br>**Growth Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Blue Chip Growth Commingled Pool** | **Fidelity Blue Chip Growth Commingled Pool** |
| **By: Fidelity Management Trust Company, as Trustee** | **By: Fidelity Management Trust Company, as Trustee** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **FMR Capital, Inc. – Flex Pilot Portfolio** | **FMR Capital, Inc. – Flex Pilot Portfolio** |
| **By: Fidelity Management & Research Company**<br>**LLC, as investment advisor** | **By: Fidelity Management & Research Company**<br>**LLC, as investment advisor** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Securities Fund: Fidelity Blue Chip Growth K6 Fund** | **Fidelity Securities Fund: Fidelity Blue Chip Growth K6 Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

------

---

| | |
|:---|:---|
| **Lenders:** | **Lenders:** |
| **Fidelity Blue Chip Growth Institutional Trust** | **Fidelity Blue Chip Growth Institutional Trust** |
| **By its manager Fidelity Investments Canada ULC** | **By its manager Fidelity Investments Canada ULC** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Securities Fund: Fidelity Series Blue Chip Growth Fund** | **Fidelity Securities Fund: Fidelity Series Blue Chip Growth Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **FIAM Target Date Blue Chip Growth Commingled Pool** | **FIAM Target Date Blue Chip Growth Commingled Pool** |
| **By: Fidelity Institutional Asset Management Trust Company as Trustee** | **By: Fidelity Institutional Asset Management Trust Company as Trustee** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Puritan Trust: Fidelity Puritan Fund** | **Fidelity Puritan Trust: Fidelity Puritan Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

------

---

| | |
|:---|:---|
| **Lenders:** | |
| **Fidelity Founders Investment Trust** | **Fidelity Founders Investment Trust** |
| **By its manager Fidelity Investments Canada ULC** | **By its manager Fidelity Investments Canada ULC** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Variable Insurance Products Fund III: Growth Opportunities Portfolio** | **Variable Insurance Products Fund III: Growth Opportunities Portfolio** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Advisor Series I: Fidelity Advisor Growth Opportunities Fund** | **Fidelity Advisor Series I: Fidelity Advisor Growth Opportunities Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Advisor Series I: Fidelity Advisor Series**<br>**Growth Opportunities Fund** | **Fidelity Advisor Series I: Fidelity Advisor Series**<br>**Growth Opportunities Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

------

---

| | |
|:---|:---|
| **Lenders:** | **Lenders:** |
| **Fidelity Mt. Vernon Street Trust: Fidelity Series Growth Company Fund** | **Fidelity Mt. Vernon Street Trust: Fidelity Series Growth Company Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Mt. Vernon Street Trust: Fidelity Growth Company Fund** | **Fidelity Mt. Vernon Street Trust: Fidelity Growth Company Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Growth Company Commingled Pool** | **Fidelity Growth Company Commingled Pool** |
| **By: Fidelity Management Trust Company, as Trustee** | **By: Fidelity Management Trust Company, as Trustee** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |
| **Fidelity Mt. Vernon Street Trust: Fidelity Growth Company K6 Fund** | **Fidelity Mt. Vernon Street Trust: Fidelity Growth Company K6 Fund** |
| By: | /s/ Chris Maher |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chris Maher |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

------

---

| | |
|:---|:---|
| **Lenders:** | **Lenders:** |
| **GV 2019, L.P.** | **GV 2019, L.P.** |
| By: GV 2019 GP, L.P., its General Partner | By: GV 2019 GP, L.P., its General Partner |
| By: GV 2019 GP, L.L.C., its General Partner | By: GV 2019 GP, L.L.C., its General Partner |
| By: | /s/ Kim Burr |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Kim Burr | Name:&nbsp;&nbsp;&nbsp;&nbsp;Kim Burr |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory | Title:&nbsp;&nbsp;&nbsp;&nbsp; Authorized Signatory |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

------

---

| | |
|:---|:---|
| **Lenders:** | **Lenders:** |
| **Salix Investments, LLC** | **Salix Investments, LLC** |
| By: | /s/ Greg Nelson |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Greg Nelson | Name:&nbsp;&nbsp;&nbsp;&nbsp;Greg Nelson |
| Title:&nbsp;&nbsp;&nbsp;&nbsp; President | Title:&nbsp;&nbsp;&nbsp;&nbsp; President |

---

[*Signature Page to Amendment to Note Purchase Agreement*]

## Exhibit 5.1

**Exhibit 5.1**

---

| | | |
|:---|:---|:---|
| | 801 Jefferson Avenue, Suite 300<br>Redwood City, California 94063<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com | 801 Jefferson Avenue, Suite 300<br>Redwood City, California 94063<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com |
| ![image_1.jpg](image_1.jpg) | FIRM / AFFILIATE OFFICES | FIRM / AFFILIATE OFFICES |
| ![image_1.jpg](image_1.jpg) | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |
|  | Austin<br>Beijing<br>Boston<br>Brussels<br>Chicago<br>Dubai<br>Düsseldorf<br>Frankfurt<br>Hamburg<br>Hong Kong<br>Houston<br>London<br>Los Angeles<br>Madrid | Milan<br>Munich<br>New York<br>Orange County<br>Paris<br>Riyadh<br>San Diego<br>San Francisco<br>Seoul<br>Silicon Valley<br>Singapore<br>Tel Aviv<br>Tokyo<br>Washington, D.C.  |

---

June 22, 2026

Neutron Holdings, Inc.

444 Townsend Street, First Floor

San Francisco, California 94107

Re: <u>Registration Statement No. 333-295679</u>

<u>8,000,000 Shares of Common Stock, Par Value $0.0001 per Share</u>

To the addressee set forth above:

We have acted as special counsel to Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), in connection with the proposed issuance of up to 8,000,000 shares (the "***Shares***") of common stock of the Company, par value $0.0001 per share (the "***Common Stock***"), 7,723,269 of which shares are being offered by the Company (the "***Company Shares***"), including 1,043,478 shares pursuant to the exercise of the underwriters' option to purchase additional shares of Common Stock from the Company, and 276,731 of which shares are being offered by certain selling stockholders (the "***Selling Stockholder Shares***"). The Shares are included in a registration statement on Form S-1 under the Securities Act of 1933, as amended (the "***Act***"), initially filed with the Securities and Exchange Commission (the "***Commission***") on May 7, 2026 (Registration No. 333-295679) (as amended, the "***Registration Statement***"). The term "Shares" shall include any additional shares of Common Stock registered by the Company pursuant to Rule 462(b) under the Act in connection with the offering contemplated by the Registration Statement. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related prospectus (the "***Prospectus***"), other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the

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**June 22, 2026**<br>**Page 2**<br>

![image_0.jpg](image_0.jpg)

General Corporation Law of the State of Delaware, and we express no opinion with respect to any other laws.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the form of underwriting agreement most recently filed as an exhibit to the Registration Statement, the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement and to the reference to our firm in the Prospectus under the heading "Legal Matters." We further consent to the incorporation by reference of this letter and consent into any registration statement filed pursuant to Rule 462(b) with respect to the Shares. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Latham & Watkins LLP

## Exhibit 10.2

**Exhibit 10.2**

**NEUTRON HOLDINGS, INC.**

**2026 INCENTIVE AWARD PLAN**

**ARTICLE I.**

**PURPOSE** 

The Plan's purpose is to enhance the Company's ability to attract, retain and motivate persons who make (or are expected to make) important contributions to the Company by providing these individuals with equity ownership opportunities.

**ARTICLE II.**

**DEFINITIONS** 

As used in the Plan, the following words and phrases have the meanings specified below, unless the context clearly indicates otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;"***Administrator***" means the Board or a Committee to the extent that the Board's powers or authority under the Plan have been delegated to such Committee. With reference to the Board's or a Committee's powers or authority under the Plan that have been delegated to one or more officers pursuant to Section 4.2, the term "Administrator" shall refer to such officer(s) unless and until such delegation has been revoked. Notwithstanding anything herein to the contrary, the Board shall conduct the general administration of the Plan with respect to Awards granted to non-employee Directors and, with respect to such Awards, the term "Administrator" as used in the Plan shall mean and refer to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;"***Applicable Law***" means any applicable law, including without limitation: (a) provisions of the Code, the Securities Act, the Exchange Act and any rules or regulations thereunder; (b) corporate, securities, tax or other laws, statutes, rules, requirements or regulations, whether federal, state, local or foreign; and (c) rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;"***Award***" means an Option award, Stock Appreciation Right award, Restricted Stock award, Restricted Stock Unit award, Performance Bonus Award, Performance Stock Unit award, Dividend Equivalents award or Other Stock or Cash Based Award granted to a Participant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;"***Award Agreement***" means an agreement evidencing an Award, which may be written or electronic, that contains such terms and conditions as the Administrator determines, consistent with and subject to the terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;"***Board***" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;"***Cause***" shall have the meaning ascribed to such term, or term of similar effect, in any offer letter, employment, severance or similar agreement, including any Award Agreement, between the Participant and the Company; provided, that in the absence of an offer letter, employment, severance or similar agreement containing such definition, "Cause" means, with respect to a Participant, the occurrence of any of the following**:** (i) performance of any act or failure to perform any act in bad faith and to the detriment of the Company or any of its affiliates; (ii) dishonesty, intentional misconduct, or material breach of any agreement with the Company or any of its affiliates; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person. The term "Company" will be interpreted to include any Subsidiary, Parent, affiliate, or any successor thereto, if appropriate.

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The determination that a termination of a Participant's employment is either for Cause or without Cause shall be made by the Administrator, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;"***Change in Control***" means any of the following:

&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)&nbsp;&nbsp;&nbsp;&nbsp;A transaction or series of transactions (other than an offering of Common Stock to the general public through a registration statement filed with the Securities and Exchange Commission) whereby any "person" or related "group" of "persons" (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) directly or indirectly acquires beneficial ownership (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) of the Company's securities possessing more than 50% of the total combined voting power of the Company's securities outstanding immediately after such acquisition; provided, however, that the following acquisitions shall not constitute a Change in Control: (i) any acquisition by the Company or any of its Subsidiaries; (ii) any acquisition by an employee benefit plan maintained by the Company or any of its Subsidiaries, (iii) any acquisition which complies with Sections 2.8(c)(i), 2.8(c)(ii) and 2.8(c)(iii); or (iv) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons including the Participant);

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Incumbent Directors cease for any reason to constitute a majority of the Board;

&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)&nbsp;&nbsp;&nbsp;&nbsp;The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination, (y) a sale or other disposition of all or substantially all of the Company's assets in any single transaction or series of related transactions or (z) the acquisition of assets or stock of another entity, in each case other than a transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;which results in the Company's voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company's assets or otherwise succeeds to the business of the Company (the Company or such person, the "***Successor Entity***")) directly or indirectly, at least a majority of the combined voting power of the Successor Entity's outstanding voting securities immediately after the transaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided*,* however, that no person or group shall be treated for purposes of this Section 2.8(c)(ii) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The completion of a liquidation or dissolution of the Company.

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award (or any portion of an Award) that provides for the deferral of compensation that is subject to Section 409A, to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described in subsection (a), (b), (c) or (d) of this Section 2.8 with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing

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of such Award if such transaction also constitutes a "change in control event," as defined in Treasury Regulation Section 1.409A-3(i)(5).

The Administrator shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a "change in control event" as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;"***Code***" means the U.S. Internal Revenue Code of 1986, as amended, and all regulations, guidance, compliance programs and other interpretative authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;"***Committee***" means one or more committees or subcommittees of the Board, which may include one or more Directors or executive officers of the Company, to the extent permitted by Applicable Law. To the extent required to comply with the provisions of Rule 16b-3, it is intended that each member of the Committee will be, at the time the Committee takes any action with respect to an Award that is subject to Rule 16b-3, a "non-employee director" within the meaning of Rule 16b-3; however, a Committee member's failure to qualify as a "non-employee director" within the meaning of Rule 16b-3 will not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;"***Common Stock***" means the common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11&nbsp;&nbsp;&nbsp;&nbsp;"***Company***" means Neutron Holdings, Inc., a Delaware corporation, or any successor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12&nbsp;&nbsp;&nbsp;&nbsp;"***Consultant***" means any person, including any adviser, engaged by the Company or a Subsidiary to render services to such entity if the consultant or adviser: (i) renders bona fide services to the Company or a Subsidiary; (ii) renders services not in connection with the offer or sale of securities in a capital-raising transaction and does not directly or indirectly promote or maintain a market for the Company's securities; and (iii) qualifies as a consultant or advisor under Instruction A.1(a)(1) of Form S-8 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;"***Designated Beneficiary***" means, if permitted by the Company, the beneficiary or beneficiaries the Participant designates, in a manner the Company determines, to receive amounts due or exercise the Participant's rights if the Participant dies. Without a Participant's effective designation, "Designated Beneficiary" will mean the Participant's estate or legal heirs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;"***Director***" means a Board member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;"***Disability***" means a permanent and total disability under Section 22(e)(3) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;"***Dividend Equivalents***" means a right granted to a Participant to receive the equivalent value (in cash or Shares) of dividends paid on a specified number of Shares. Such Dividend Equivalent shall be converted to cash or additional Shares, or a combination of cash and Shares, by such formula and at such time and subject to such limitations as may be determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17&nbsp;&nbsp;&nbsp;&nbsp;"***DRO***" means a "domestic relations order" as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18&nbsp;&nbsp;&nbsp;&nbsp;"***Effective Date***" has the meaning set forth in Section 11.3.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19&nbsp;&nbsp;&nbsp;&nbsp;"***Employee***" means any employee of the Company or any of its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;"***Equity Restructuring***" means a nonreciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split (including a reverse stock split), spin-off or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of Shares (or other Company securities) or the share price of Common Stock (or other Company securities) and causes a change in the per share value of the Common Stock underlying outstanding Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21&nbsp;&nbsp;&nbsp;&nbsp;"***Exchange Act***" means the U.S. Securities Exchange Act of 1934, as amended, and all regulations, guidance and other interpretative authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22&nbsp;&nbsp;&nbsp;&nbsp;"***Fair Market Value***" means, as of any date, the value of a Share determined as follows: (i) if the Common Stock is listed on any established stock exchange, the value of a Share will be the closing sales price for a Share as quoted on such exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred, as reported in *The Wall Street Journal* or another source the Administrator deems reliable; (ii) if the Common Stock is not listed on an established stock exchange but is quoted on a national market or other quotation system, the value of a Share will be the closing sales price for a Share on such date, or if no sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported in *The Wall Street Journal* or another source the Administrator deems reliable; or (iii) if the Common Stock is not listed on any established stock exchange or quoted on a national market or other quotation system, the value established by the Administrator in its sole discretion. Notwithstanding the foregoing, with respect to any Award granted after the Effective Date but prior to the date the Company's registration statement relating to its initial public offering becomes effective, the Fair Market Value means the initial public offering price of a Share as set forth in the Company's final prospectus relating to its initial public offering filed with the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23&nbsp;&nbsp;&nbsp;&nbsp;"***Greater Than 10% Stockholder***" means an individual then owning (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any parent corporation or subsidiary corporation of the Company, as determined in accordance with Section 424(e) and (f) of the Code, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24&nbsp;&nbsp;&nbsp;&nbsp;"***Incentive Stock Option***" means an Option that meets the requirements to qualify as an "incentive stock option" as defined in Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25&nbsp;&nbsp;&nbsp;&nbsp;"***Incumbent Directors"*** means, for any period of 12 consecutive months, individuals who, at the beginning of such period, constitute the Board together with any new Director(s) (other than a Director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in clause (a) or (c) of the Change in Control definition) whose election or nomination for election to the Board was approved by a vote of at least a majority (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for Director without objection to such nomination) of the Directors then still in office who either were Directors at the beginning of the 12-month period or whose election or nomination for election was previously so approved. No individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to Directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be an Incumbent Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26&nbsp;&nbsp;&nbsp;&nbsp;"***Non-Employee Directo****r*" means a Director who is not an Employee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27&nbsp;&nbsp;&nbsp;&nbsp;"***Nonqualified Stock Option***" means an Option that is not an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28&nbsp;&nbsp;&nbsp;&nbsp;"***Option***" means a right granted under Article VI to purchase a specified number of Shares at a specified price per Share during a specified time period. An Option may be either an Incentive Stock Option or a Nonqualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29&nbsp;&nbsp;&nbsp;&nbsp;"***Other Stock or Cash Based Awards***" means cash awards, awards of Shares, and other awards valued wholly or partially by referring to, or are otherwise based on, Shares or other property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30&nbsp;&nbsp;&nbsp;&nbsp;"***Overall Share Limit***" means the sum of (i) [___]<sup>1</sup> Shares plus (ii) any Shares that are subject to Prior Plan Awards that become available for issuance under the Plan as Shares pursuant to Article V plus (iv) an increase commencing on the first day of each calendar year beginning January 1, 2027 and continuing annually on the anniversary thereof through (and including) January 1, 2036, equal to the lesser of (A) 5% of the shares of all classes of the Company's common stock outstanding on the last day of the immediately preceding fiscal year (calculated on an as-converted basis) and (B) such smaller number of Shares as determined by the Board or the Committee. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31&nbsp;&nbsp;&nbsp;&nbsp;"***Participant***" means a Service Provider who has been granted an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32&nbsp;&nbsp;&nbsp;&nbsp;"***Performance Bonus Award***" has the meaning set forth in Section 8.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33&nbsp;&nbsp;&nbsp;&nbsp;"***Performance Stock Unit***" means a right granted to a Participant pursuant to Section 8.1 and subject to Section 8.2, to receive cash or Shares, the payment of which is contingent upon achieving certain performance goals or other performance-based targets established by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34&nbsp;&nbsp;&nbsp;&nbsp;"***Permitted Transferee***" means, with respect to a Participant, any "family member" of the Participant, as defined in the General Instructions to Form S-8 Registration Statement under the Securities Act (or any successor form thereto), or any other transferee specifically approved by the Administrator after taking into account Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35&nbsp;&nbsp;&nbsp;&nbsp;"***Plan***" means this 2026 Incentive Award Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36&nbsp;&nbsp;&nbsp;&nbsp;"***Prior Plan***" means the Neutron Holdings, Inc. 2017 Stock Incentive Plan, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37&nbsp;&nbsp;&nbsp;&nbsp;"***Prior Plan Award***" means an award outstanding under the Prior Plan as of immediately prior to the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38&nbsp;&nbsp;&nbsp;&nbsp;"***Restricted Stock***" means Shares awarded to a Participant under Article VII, subject to certain vesting conditions and other restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39&nbsp;&nbsp;&nbsp;&nbsp;"***Restricted Stock Unit***" means an unfunded, unsecured right to receive, on the applicable settlement date, one Share or an amount in cash or other consideration determined by the Administrator to be of equal value as of such settlement date, subject to certain vesting conditions and other restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40&nbsp;&nbsp;&nbsp;&nbsp;"***Rule 16b-3***" means Rule 16b-3 promulgated under the Exchange Act, including any amendments thereto.

<sup>1</sup>To equal 10% of outstanding shares post-IPO (inclusive of shares issued in IPO, assuming no exercise of underwriters' option to purchase additional shares).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.41&nbsp;&nbsp;&nbsp;&nbsp;"***Section 409A***" means Section 409A of the Code and the regulations promulgated thereunder by the United States Treasury Department, as amended or as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.42&nbsp;&nbsp;&nbsp;&nbsp;"***Securities Act***" means the Securities Act of 1933, as amended, and all regulations, guidance and other interpretative authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.43&nbsp;&nbsp;&nbsp;&nbsp;"***Service Provider***" means an Employee, Consultant or Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44&nbsp;&nbsp;&nbsp;&nbsp;"***Shares***" means shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45&nbsp;&nbsp;&nbsp;&nbsp;"***Stock Appreciation Right***" or "***SAR***" means a right granted under Article VI to receive a payment equal to the excess of the Fair Market Value of a specified number of Shares on the date the right is exercised over the exercise price set forth in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.46&nbsp;&nbsp;&nbsp;&nbsp;"***Subsidiary***" means any entity (other than the Company), whether U.S. or non-U.S., in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing at least 50% of the total combined voting power of all classes of securities or interests in one of the other entities in such chain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47&nbsp;&nbsp;&nbsp;&nbsp;"***Substitute Awards***" means Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company or other entity acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48&nbsp;&nbsp;&nbsp;&nbsp;"***Tax-Related Items***" means any U.S. and non-U.S. federal, state and/or local taxes (including, without limitation, income tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax and any employer tax liability which has been transferred to a Participant) for which a Participant is liable in connection with Awards and/or Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49&nbsp;&nbsp;&nbsp;&nbsp;"***Termination of Service***" means:

&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)&nbsp;&nbsp;&nbsp;&nbsp;As to a Consultant, the time when the engagement of a Participant as a Consultant to the Company or a Subsidiary is terminated for any reason, with or without Cause, including, without limitation, by resignation, discharge, death or retirement, but excluding terminations where the Consultant simultaneously commences or remains in employment or service with the Company or any Subsidiary.

&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)&nbsp;&nbsp;&nbsp;&nbsp;As to a Non-Employee Director, the time when a Participant who is a Non-Employee Director ceases to be a Director for any reason, including, without limitation, a termination by resignation, failure to be elected, death or retirement, but excluding terminations where the Participant simultaneously commences or remains in employment or service with the Company or any Subsidiary.

&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)&nbsp;&nbsp;&nbsp;&nbsp;As to an Employee, the time when the employee-employer relationship between a Participant and the Company or any Subsidiary is terminated for any reason, including, without limitation, a termination by resignation, discharge, death, disability or retirement; but excluding terminations where the Participant simultaneously commences or remains in employment or service with the Company or any Subsidiary.

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The Company, in its sole discretion, shall determine the effect of all matters and questions relating to any Termination of Service, including, without limitation, whether a Termination of Service has occurred, whether a Termination of Service resulted from a discharge for Cause and all questions of whether particular leaves of absence constitute a Termination of Service. For purposes of the Plan, a Participant's employee-employer relationship or consultancy relationship shall be deemed to be terminated in the event that the Subsidiary employing or contracting with such Participant ceases to remain a Subsidiary following any merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off), even though the Participant may subsequently continue to perform services for that entity.

**ARTICLE III.**

**ELIGIBILITY**

Service Providers are eligible to be granted Awards under the Plan, subject to the limitations described herein. No Service Provider shall have any right to be granted an Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Service Providers, Participants or any other persons uniformly.

**ARTICLE IV.**

**ADMINISTRATION AND DELEGATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Plan is administered by the Administrator. The Administrator has authority to determine which Service Providers receive Awards, grant Awards and set Award terms and conditions, subject to the conditions and limitations in the Plan. The Administrator also has the authority to take all actions and make all determinations under the Plan, to interpret the Plan and Award Agreements and to adopt, amend and repeal Plan administrative rules, guidelines and practices as it deems advisable. The Administrator may correct defects and ambiguities, supply omissions, reconcile inconsistencies in the Plan, any Award Agreement or any Award and make all other determinations that it deems necessary or appropriate to administer the Plan and any Awards. The Administrator (and each member thereof) is entitled to, in good faith, rely or act upon any report or other information furnished to the Administrator or any member thereof by any officer or other Employee, the Company's independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. The Administrator's determinations under the Plan are in its sole discretion and will be final, binding and conclusive on all persons having or claiming any interest in the Plan or any Award.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the foregoing, the Administrator has the exclusive power, authority and sole discretion to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant; (iii) determine the number of Awards to be granted and the number of Shares to which an Award will relate; (iv) subject to the limitations in the Plan, determine the terms and conditions of any Award and related Award Agreement, including, but not limited to, the exercise price, grant price, purchase price, any performance criteria, any restrictions or limitations on the Award, any schedule for vesting, lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations, waivers or amendments thereof; (v) determine whether, to what extent, and under what circumstances an Award may be settled in, or the exercise price of an Award may be paid in cash, Shares, or other property, or an Award may be canceled, forfeited, or surrendered; and (vi) make all

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other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems necessary or advisable to administer the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation of Authority</u>. To the extent permitted by Applicable Law, the Board or any Committee may delegate any or all of its powers under the Plan to one or more Committees or officers of the Company or any of its Subsidiaries; provided, however, that in no event shall an officer of the Company or any of its Subsidiaries be delegated the authority to grant Awards to, or amend Awards held by, the following individuals: (a) individuals who are subject to Section 16 of the Exchange Act, or (b) officers of the Company or any of its Subsidiaries or Directors to whom authority to grant or amend Awards has been delegated hereunder. Any delegation hereunder shall be subject to the restrictions and limits that the Board or the Administrator specifies at the time of such delegation or that are otherwise included in the applicable organizational documents, and the Board or Committee, as applicable, may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under this Section 4.2 shall serve in such capacity at the pleasure of the Board or the Administrator, as applicable, and the Board or the Committee may abolish any committee at any time and re-vest in itself any previously delegated authority. Further, regardless of any delegation, the Board or the Administrator may, in its discretion, exercise any and all rights and duties as the Administrator under the Plan delegated thereby, except with respect to Awards that are required to be determined in the sole discretion of the Board or the Administrator under the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded.

**ARTICLE V.**

**STOCK AVAILABLE FOR AWARDS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Number of Shares</u>. Subject to adjustment under Article IX and the terms of this Article V, Awards may be made under the Plan covering up to the Overall Share Limit. As of the Effective Date, the Company will cease granting awards under the Prior Plans; however, Prior Plan Awards will remain subject to the terms of the applicable Prior Plan. Shares issued or delivered under the Plan may consist of authorized but unissued Shares, Shares purchased on the open market or treasury Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Share Recycling</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;If all or any part of an Award or Prior Plan Award expires, lapses or is terminated, converted into an award in respect of shares of another entity in connection with a spin-off or other similar event, exchanged or settled for cash, surrendered, repurchased, canceled without having been fully exercised or forfeited, in any case, in a manner that results in the Company acquiring Shares covered by the Award or Prior Plan Award at a price not greater than the price (as adjusted to reflect any Equity Restructuring) paid by the Participant for such Shares or not issuing any Shares covered by the Award or Prior Plan Award, the unused Shares covered by the Award or Prior Plan Award will, as applicable, become or again be available, in each case, as Common Stock for Awards under the Plan. The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards or Prior Plan Awards shall not count against the Overall Share Limit.

&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)&nbsp;&nbsp;&nbsp;&nbsp;In addition, the following Shares shall be available for future grants of Awards: (i) Shares tendered by a Participant or withheld by the Company in payment of the exercise price of an Option or any stock option granted under the applicable Prior Plan; (ii) Shares tendered by the Participant or withheld by the Company to satisfy any tax withholding obligation with respect to an Award or any Prior Plan Award; and (iii) Shares subject to a Stock Appreciation Right that are not issued in connection with the stock settlement of the Stock Appreciation Right on exercise thereof.

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Notwithstanding the provisions of this Section 5.2(b), no Shares may again be optioned, granted or awarded pursuant to an Incentive Stock Option if such action would cause such Option to fail to qualify as an incentive stock option under Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Incentive Stock Option Limitations</u>. Notwithstanding anything to the contrary herein, no more than [____]<sup>2</sup> Shares (as adjusted to reflect any Equity Restructuring) may be issued pursuant to the exercise of Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Substitute Awards</u>. In connection with an entity's merger or consolidation with the Company or any Subsidiary or the Company's or any Subsidiary's acquisition of an entity's property or stock, the Administrator may grant Substitute Awards in respect of any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate. Substitute Awards may be granted on such terms and conditions as the Administrator deems appropriate, notwithstanding limitations on Awards in the Plan. Substitute Awards will not count against the Overall Share Limit (nor shall Shares subject to a Substitute Award be added to the Shares available for Awards under the Plan as provided under Section 5.2 above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as appropriately adjusted to reflect the transaction) may be used for Awards under the Plan and shall not count against the Overall Share Limit (and Shares subject to such Awards may again become available for Awards under the Plan as provided under Section 5.2 above); provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Service Providers prior to such acquisition or combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Employee Director Award Limit</u>. Notwithstanding any provision to the contrary in the Plan or in any policy of the Company regarding non-employee director compensation, the sum of the grant date fair value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of all equity-based Awards and the maximum amount that may become payable pursuant to all cash-based Awards that may be granted to a Service Provider as compensation for services as a Non-Employee Director during any calendar year under the Plan shall not exceed $1,000,000 for such Service Provider's first year of service as a Non-Employee Director and $750,000 for each year thereafter.

**ARTICLE VI.**

**STOCK OPTIONS AND STOCK APPRECIATION RIGHTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. The Administrator may grant Options or Stock Appreciation Rights to one or more Service Providers, subject to such terms and conditions not inconsistent with the Plan as the Administrator shall determine and the limitations in the Plan, including any limitations in the Plan that apply to Incentive Stock Options. The Administrator will determine the number of Shares covered by each Option and Stock Appreciation Right, the exercise price of each Option and Stock Appreciation Right and the conditions and limitations applicable to the exercise of each Option and Stock Appreciation Right. A Stock Appreciation Right will entitle the Participant (or other person entitled to exercise the Stock Appreciation Right) to receive from the Company upon exercise of the exercisable

<sup>2</sup> To equal 300% of the Overall Share Limit.

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portion of the Stock Appreciation Right an amount determined by multiplying (x) the excess, if any, of the Fair Market Value of one Share on the date of exercise over the exercise price per Share of the Stock Appreciation Right by (y) the number of Shares with respect to which the Stock Appreciation Right is exercised, subject to any limitations of the Plan or that the Administrator may impose, and payable in cash, Shares valued at Fair Market Value on the date of exercise or a combination of the two as the Administrator may determine or provide in the Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Price</u>. The Administrator will establish each Option's and Stock Appreciation Right's exercise price and specify the exercise price in the Award Agreement. Subject to Section 6.6, the exercise price will not be less than 100% of the Fair Market Value on the grant date of the Option or Stock Appreciation Right. Notwithstanding the foregoing, in the case of (i) an Option or Stock Appreciation Right granted to participates who are not taxpayers within the United States, and (ii) an Option or Stock Appreciation Right that is a Substitute Award, the exercise price per share of the Shares subject to such Option or Stock Appreciation Right, as applicable, may be less than the Fair Market Value per share on the date of grant; *provided* that the exercise price of any Substitute Award shall be determined in accordance with the applicable requirements of Sections 424 and 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Duration of Options</u>. Subject to Section 6.6, each Option or Stock Appreciation Right will be exercisable at such times and as specified in the Award Agreement, provided that the term of an Option or Stock Appreciation Right will not exceed ten years; provided, further, that, unless otherwise determined by the Administrator or specified in the Award Agreement, (a) no portion of an Option or Stock Appreciation Right which is unexercisable at a Participant's Termination of Service shall thereafter become exercisable and (b) the portion of an Option or Stock Appreciation Right that is unexercisable at a Participant's Termination of Service shall automatically expire on the date of such Termination of Service. In addition, in no event shall an Option or Stock Appreciation Right granted to an Employee who is a non-exempt employee for purposes of overtime pay under the U.S. Fair Labor Standards Act of 1938 be exercisable earlier than six months after its date of grant. Notwithstanding the foregoing, if the Participant, prior to the end of the term of an Option or Stock Appreciation Right, commits an act of Cause (as determined by the Administrator), or violates any non-competition, non-solicitation or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company or any of its Subsidiaries, the right to exercise the Option or Stock Appreciation Right, as applicable, may be terminated by the Company and the Company may suspend the Participant's right to exercise the Option or Stock Appreciation Right when it reasonably believes that the Participant may have participated in any such act or violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise</u>. Options and Stock Appreciation Rights may be exercised by delivering to the Company (or such other person or entity designated by the Administrator) a notice of exercise, in a form and manner the Company approves (which may be written, electronic or telephonic and may contain representations and warranties deemed advisable by the Administrator), signed or authenticated by the person authorized to exercise the Option or Stock Appreciation Right, together with, as applicable, (a) payment in full of the exercise price for the number of Shares for which the Option is exercised in a manner specified in Section 6.5 and (b) satisfaction in full of any withholding obligation for Tax-Related Items in a manner specified in Section 10.5. The Administrator may, in its discretion, limit exercise with respect to fractional Shares and require that any partial exercise of an Option or Stock Appreciation Right be with respect to a minimum number of Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment Upon Exercise</u>. The Administrator shall determine the methods by which payment of the exercise price of an Option shall be made, including, without limitation:

&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)&nbsp;&nbsp;&nbsp;&nbsp;Cash, check or wire transfer of immediately available funds; provided that the Company may limit the use of one of the foregoing methods if one or more of the methods below is permitted;

&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)&nbsp;&nbsp;&nbsp;&nbsp;If there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including electronically or telephonically to the extent permitted by the Company) of a notice that the Participant has placed a market sell order with a broker acceptable to the Company with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to deliver promptly to the Company funds sufficient to pay the exercise price, or (B) the Participant's delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company an amount sufficient to pay the exercise price by cash, wire transfer of immediately available funds or check; provided that such amount is paid to the Company at such time as may be required by the Company;

&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)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by the Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their fair market value on the date of delivery;

&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)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by the Administrator, surrendering Shares then issuable upon the Option's exercise valued at their fair market value on the exercise 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by the Administrator, other than for Participants subject to Section 13(k) of the Exchange Act with respect to the Company or its Subsidiaries, delivery of a promissory note or any other lawful consideration; 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by the Administrator, any combination of the above payment forms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Terms of Incentive Stock Options</u>. The Administrator may grant Incentive Stock Options only to employees of the Company, any of its present or future parent or subsidiary corporations, as defined in Sections 424(e) or (f) of the Code, respectively, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code. If an Incentive Stock Option is granted to a Greater Than 10% Stockholder, the exercise price will not be less than 110% of the Fair Market Value on the Option's grant date, and the term of the Option will not exceed five years. All Incentive Stock Options (and Award Agreements related thereto) will be subject to and construed consistently with Section 422 of the Code. By accepting an Incentive Stock Option, the Participant agrees to give prompt notice to the Company of dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Option made within the later of (a) two years from the grant date of the Option or (b) one year after the transfer of such Shares to the Participant, specifying the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, assumption of indebtedness or other consideration, in such disposition or other transfer. Neither the Company nor the Administrator will be liable to a Participant, or any other party, if an Incentive Stock Option fails or ceases to qualify as an "incentive stock option" under Section 422 of the Code. Any Incentive Stock Option or portion thereof that fails to qualify as an "incentive stock option" under Section 422 of the Code for any reason, including becoming exercisable with respect to Shares

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having a fair market value exceeding the $100,000 limitation under Treasury Regulation Section 1.422-4, will be a Nonqualified Stock Option.

**ARTICLE VII.**

**RESTRICTED STOCK; RESTRICTED STOCK UNITS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. The Administrator may grant Restricted Stock, or the right to purchase Restricted Stock, to any Service Provider, subject to forfeiture or the Company's right to repurchase all or part of the underlying Shares at their issue price or other stated or formula price from the Participant if conditions the Administrator specifies in the Award Agreement are not satisfied before the end of the applicable restriction period or periods that the Administrator establishes for such Award. In addition, the Administrator may grant Restricted Stock Units, which may be subject to vesting and forfeiture conditions during the applicable restriction period or periods, as set forth in an Award Agreement, to Service Providers. The Administrator shall establish the purchase price, if any, and form of payment for Restricted Stock and Restricted Stock Units; provided, however, that if a purchase price is charged, such purchase price shall be no less than the par value, if any, of the Shares to be purchased, unless otherwise permitted by Applicable Law. In all cases, legal consideration shall be required for each issuance of Restricted Stock and Restricted Stock Units to the extent required by Applicable Law. The Award Agreement for each Award of Restricted Stock and Restricted Stock Units shall set forth the terms and conditions not inconsistent with the Plan as the Administrator shall determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Stock</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Stockholder Rights*. Unless otherwise determined by the Administrator, each Participant holding Shares of Restricted Stock will be entitled to all the rights of a stockholder with respect to such Shares, subject to the restrictions in the Plan and the applicable Award Agreement, including the right to receive all dividends and other distributions paid or made with respect to the Shares to the extent such dividends and other distributions have a record date that is on or after the date on which such Participant becomes the record holder of such Shares; provided, however, that with respect to a share of Restricted Stock subject to restrictions or vesting conditions, except in connection with a spin-off or other similar event as otherwise permitted under Section 9.2, dividends which are paid to Company stockholders prior to the removal of restrictions and satisfaction of vesting conditions shall only be paid to the Participant to the extent that the restrictions are subsequently removed and the vesting conditions are subsequently satisfied and the share of Restricted Stock vests. All such dividends will be made no later than March 15 of the calendar year immediately following the calendar year in which the right to the dividend payments became nonforfeitable.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Stock Certificates*. The Company may require that the Participant deposit in escrow with the Company (or its designee) any stock certificates issued in respect of Shares of Restricted Stock, together with a stock power endorsed in blank.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Section 83(b) Election*. If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which such Participant would otherwise be taxable under Section 83(a) of the Code, such Participant shall be required to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service along with proof of the timely filing thereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Stock Units</u>. The Administrator may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practicable after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant's election, subject to compliance with Applicable Law. A Participant holding Restricted Stock Units will have only the rights of a general unsecured creditor of the Company (solely to the extent of any rights then applicable to Participant with respect to such Restricted Stock Units) until delivery of Shares, cash or other securities or property is made as specified in the applicable Award Agreement.

**ARTICLE VIII.**

**OTHER TYPES OF AWARDS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. The Administrator may grant Performance Stock Unit awards, Performance Bonus Awards, Dividend Equivalents or Other Stock or Cash Based Awards, to one or more Service Providers, in such amounts and subject to such terms and conditions not inconsistent with the Plan as the Administrator shall determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Performance Stock Unit Awards</u>. Each Performance Stock Unit award shall be denominated in a number of Shares or in unit equivalents of Shares or units of value (including a dollar value of Shares) and may be linked to any one or more of performance or other specific criteria, including service to the Company or Subsidiaries, determined to be appropriate by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. In making such determinations, the Administrator may consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Performance Bonus Awards</u>. Each right to receive a bonus granted under this Section 8.3 shall be denominated in the form of cash (but may be payable in cash, stock or a combination thereof) (a "***Performance Bonus Award***") and shall be payable upon the attainment of performance goals that are established by the Administrator and relate to one or more of performance or other specific criteria, including service to the Company or Subsidiaries, in each case on a specified date or dates or over any period or periods determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividend Equivalents</u>. If the Administrator provides, an Award (other than an Option or Stock Appreciation Right) may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in cash or Shares and subject to the same restrictions on transferability and forfeitability as the Award with respect to which the Dividend Equivalents are granted and subject to other terms and conditions as set forth in the Award Agreement. Notwithstanding anything to the contrary herein, Dividend Equivalents with respect to an Award subject to vesting shall either (a) to the extent permitted by Applicable Law, not be paid or credited or (b) be accumulated and subject to vesting to the same extent as the related Award. All such Dividend Equivalents shall be paid no later than March 15 of the calendar year immediately following the calendar year in which the right to the Dividend Equivalent payments became nonforfeitable unless otherwise determined by the Administrator or unless deferred in a manner intended to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Stock or Cash Based Awards</u>. Other Stock or Cash Based Awards may be granted to Participants, including Awards entitling Participants to receive cash or Shares to be delivered in the future and annual or other periodic or long-term cash bonus awards (whether based on specified performance criteria or otherwise), in each case subject to any conditions and limitations in the Plan.

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Such Other Stock or Cash Based Awards will also be available as a payment form in the settlement of other Awards, as standalone payments and as payment in lieu of compensation to which a Participant is otherwise entitled, subject to compliance with, or an exemption from, Section 409A. Other Stock or Cash Based Awards may be paid in Shares, cash or other property, as the Administrator determines. Subject to the provisions of the Plan, the Administrator will determine the terms and conditions of each Other Stock or Cash Based Award, including any purchase price, performance goal(s), transfer restrictions, and vesting conditions, which will be set forth in the applicable Award Agreement. Except in connection with a spin-off or other similar event as otherwise permitted under Article IX, dividends that are paid prior to vesting of any Other Stock or Cash Based Award shall only be paid to the applicable Participant to the extent that the vesting conditions are subsequently satisfied and the Other Stock or Cash Based Award vests.

**ARTICLE IX.**

**ADJUSTMENTS FOR CHANGES IN COMMON STOCK** 

**AND CERTAIN OTHER EVENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Equity Restructuring</u>. In connection with any Equity Restructuring, notwithstanding anything to the contrary in this Article IX, the Administrator will equitably adjust the terms of the Plan and each outstanding Award as it deems appropriate to reflect the Equity Restructuring, which may include (a) adjusting the number and type of securities subject to each outstanding Award or with respect to which Awards may be granted under the Plan (including, but not limited to, adjustments of the limitations in Article V hereof on the maximum number and kind of shares that may be issued); (b) adjusting the terms and conditions of (including the grant or exercise price), and the performance goals or other criteria included in, outstanding Awards; and (c) granting new Awards or making cash payments to Participants. The adjustments provided under this Section 9.1 will be nondiscretionary and final and binding on all interested parties, including the affected Participant and the Company; provided that the Administrator will determine whether an adjustment is equitable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Transactions</u>. In the event of any extraordinary dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, split-up, spin off, combination, amalgamation, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, Change in Control, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, other similar corporate transaction or event, other unusual or nonrecurring transaction or event affecting the Company or its financial statements or any change in any Applicable Law or accounting principles, the Administrator, on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event (except that action to give effect to a change in Applicable Law or accounting principles may be made within a reasonable period of time after such change) and either automatically or upon the Participant's request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to (x) prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any Award granted or issued under the Plan, (y) to facilitate such transaction or event or (z) give effect to such changes in Applicable Law or accounting principles:

&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)&nbsp;&nbsp;&nbsp;&nbsp;To provide for the cancellation of any such Award in exchange for either an amount of cash or other property with a value equal to the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant's rights

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under the vested portion of such Award, as applicable, in each case as of the date of such cancellation; provided that, if the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant's rights, in any case, is equal to or less than zero, then the Award may be terminated without payment;

&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)&nbsp;&nbsp;&nbsp;&nbsp;To provide that such Award shall vest and, to the extent applicable, be exercisable as to all Shares (or other property) covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award;

&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)&nbsp;&nbsp;&nbsp;&nbsp;To provide that such Award be assumed by the successor or survivor corporation or entity, or a parent or subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation or entity, or a parent or subsidiary thereof, or equivalent value thereof in cash, with appropriate adjustments as to the number and kind of shares and applicable exercise or purchase price, in all cases, as determined by the Administrator;

&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)&nbsp;&nbsp;&nbsp;&nbsp;To make adjustments in the number and type of Shares (or other securities or property) subject to outstanding Awards or with respect to which Awards may be granted under the Plan (including, but not limited to, adjustments of the limitations in Article V hereof on the maximum number and kind of Shares which may be issued) or in the terms and conditions of (including the grant or exercise price or applicable performance goals), and the criteria included in, outstanding Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;To replace such Award with other rights or property selected by the Administrator; 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;(f)&nbsp;&nbsp;&nbsp;&nbsp;To provide that the Award will terminate and cannot vest, be exercised or become payable after the applicable event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Control</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of the Plan, in the event of a Change in Control, unless the Administrator elects to (i) terminate an Award (after giving effect to any acceleration, including as set forth herein), or (ii) cause an Award to become fully exercisable and no longer subject to any forfeiture restrictions prior to the consummation of a Change in Control, pursuant to Section 9.2, (A) such Award (other than any portion subject to performance-based vesting) shall continue in effect or be assumed or an equivalent Award substituted by the successor corporation or a parent or subsidiary of the successor corporation and (B) the portion of such Award subject to performance-based vesting shall be subject to the terms and conditions of the applicable Award Agreement and, in the absence of applicable terms and conditions, the Administrator's discretion.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Administrative Stand Still</u>. In the event of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other extraordinary transaction or change affecting the Shares or the share price of Common Stock (including any Equity Restructuring or any securities offering or other similar transaction) or for reasons of administrative convenience or to facilitate compliance with any Applicable Law, the Administrator may refuse to permit the exercise or settlement of one or more Awards for such period of time as the Company may determine to be reasonably appropriate under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. Except as expressly provided in the Plan or the Administrator's action under the Plan, no Participant will have any rights due to any subdivision or consolidation of Shares of any

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class, dividend payment, increase or decrease in the number of Shares of any class or dissolution, liquidation, merger, or consolidation of the Company or other corporation. Except as expressly provided with respect to an Equity Restructuring under Section 9.1 above or the Administrator's action under the Plan, no issuance by the Company of Shares of any class, or securities convertible into Shares of any class, will affect, and no adjustment will be made regarding, the number of Shares subject to an Award or the Award's grant or exercise price. The existence of the Plan, any Award Agreements and the Awards granted hereunder will not affect or restrict in any way the Company's right or power to make or authorize (a) any adjustment, recapitalization, reorganization or other change in the Company's capital structure or its business, (b) any merger, consolidation, spinoff, dissolution or liquidation of the Company or sale of Company assets or (c) any sale or issuance of securities, including securities with rights superior to those of the Shares or securities convertible into or exchangeable for Shares. The Administrator may treat Participants and Awards (or portions thereof) differently under this Article IX.

**ARTICLE X.**

**PROVISIONS APPLICABLE TO AWARDS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Award may be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily or by operation of law, except by will or the laws of descent and distribution, or, subject to the Administrator's consent, pursuant to a DRO, unless and until such Award has been exercised or the Shares underlying such Award have been issued, and all restrictions applicable to such Shares have lapsed. During the life of a Participant, Awards will be exercisable only by the Participant, unless it has been disposed of pursuant to a DRO. After the death of a Participant, any exercisable portion of an Award may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Award Agreement, be exercised by the Participant's personal representative or by any person empowered to do so under the deceased Participant's will or under the then-Applicable Law of descent and distribution. References to a Participant, to the extent relevant in the context, will include references to a transferee approved by the Administrator.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding Section 10.1(a), the Administrator, in its sole discretion, may determine to permit a Participant or a Permitted Transferee of such Participant to transfer an Award other than an Incentive Stock Option (unless such Incentive Stock Option is intended to become a Nonqualified Stock Option) to any one or more Permitted Transferees of such Participant, subject to the following terms and conditions: (i) an Award transferred to a Permitted Transferee shall not be assignable or transferable by the Permitted Transferee other than (A) to another Permitted Transferee of the applicable Participant or (B) by will or the laws of descent and distribution or, subject to the consent of the Administrator, pursuant to a DRO; (ii) an Award transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions of the Award as applicable to the original Participant (other than the ability to further transfer the Award to any person other than another Permitted Transferee of the applicable Participant); (iii) the Participant (or transferring Permitted Transferee) and the receiving Permitted Transferee shall execute any and all documents requested by the Administrator, including, without limitation, documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the transfer under Applicable Law and (C) evidence the transfer; and (iv) any transfer of an Award to a Permitted Transferee shall be without consideration, except as required by Applicable Law. In addition, and further notwithstanding Section 10.1(a), the Administrator, in its sole discretion, may determine to permit a Participant to transfer Incentive Stock Options to a trust that constitutes a Permitted Transferee if, under Section 671

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of the Code and other Applicable Law, the Participant is considered the sole beneficial owner of the Incentive Stock Option while it is held in the trust.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding Section 10.1(a), if permitted by the Administrator, a Participant may, in the manner determined by the Administrator, designate a Designated Beneficiary. A Designated Beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant and any additional restrictions deemed necessary or appropriate by the Administrator. If the Participant is married or a domestic partner in a domestic partnership qualified under Applicable Law and resides in a community property state, a designation of a person other than the Participant's spouse or domestic partner, as applicable, as the Participant's Designated Beneficiary with respect to more than 50% of the Participant's interest in the Award shall not be effective without the prior written or electronic consent of the Participant's spouse or domestic partner. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time; provided that the change or revocation is delivered in writing to the Administrator prior to the Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Documentation</u>. Each Award will be evidenced in an Award Agreement in such form as the Administrator determines in its discretion. Each Award may contain such terms and conditions as are determined by the Administrator in its sole discretion, to the extent not inconsistent with those set forth in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Discretion</u>. Except as the Plan otherwise provides, each Award may be made alone or in addition or in relation to any other Award. The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Changes in Participant's Status</u>. The Administrator will determine how the disability, death, retirement, authorized leave of absence or any other change or purported change in a Participant's Service Provider status affects an Award and the extent to which, and the period during which, the Participant, the Participant's legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. Except to the extent otherwise required by Applicable Law or expressly authorized by the Company or by the Company's written policy on leaves of absence, no service credit shall be given for vesting purposes for any period the Participant is on a leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding</u>. Each Participant must pay the Company or a Subsidiary or other Participant's employing company, as applicable, or make provision satisfactory to the Administrator for payment of, any Tax-Related Items required by Applicable Law to be withheld in connection with such Participant's Awards and/or Shares by the date of the event creating the liability for Tax-Related Items. At the Company's discretion and subject to any Company insider trading policy (including black-out periods), any withholding obligation for Tax-Related Items may be satisfied by (i) deducting an amount sufficient to satisfy such withholding obligation from any payment of any kind otherwise due to a Participant; (ii) accepting a payment from the Participant in cash, by wire transfer of immediately available funds, or by check made payable to the order of the Company or a Subsidiary, as applicable; (iii) accepting the delivery of Shares, including Shares delivered by attestation; (iv) retaining Shares from the Award creating the withholding obligation for Tax-Related Items, valued on the date of delivery; (v) if there is a public market for Shares at the time the withholding obligation for Tax-Related Items is to be satisfied, selling Shares issued pursuant to the Award creating the withholding obligation for Tax-Related Items, either voluntarily by the Participant or mandatorily by the Company; (vi) accepting delivery of a promissory note or any other lawful consideration; or (vii) any combination of the foregoing payment

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forms. The amount withheld pursuant to any of the foregoing payment forms shall be determined by the Company and may be up to, but no greater than, the aggregate amount of such obligations based on the maximum statutory withholding rates in the applicable Participant's jurisdiction for all Tax-Related Items that are applicable to such taxable income. If any tax withholding obligation will be satisfied under clause (v) of the preceding paragraph, each Participant's acceptance of an Award under the Plan will constitute the Participant's authorization to the Company and instruction and authorization to any brokerage firm selected by the Company to effect the sale to complete the transactions described in clause (v).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment of Award; Repricing</u>. The Administrator may amend, modify or terminate any outstanding Award, including by substituting another Award of the same or a different type, changing the exercise or settlement date, and converting an Incentive Stock Option to a Nonqualified Stock Option. The Participant's consent to such action will be required unless (a) the action, taking into account any related action, does not materially and adversely affect the Participant's rights under the Award, or (b) the change is permitted under Article IX or pursuant to Section 11.6. In addition, the Administrator shall, without the approval of the stockholders of the Company, have the authority to (i) amend any outstanding Option or Stock Appreciation Right to reduce its exercise price per Share or (ii) cancel any Option or Stock Appreciation Right in exchange for cash or another Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions on Delivery of Stock</u>. The Company will not be obligated to deliver any Shares under the Plan or remove restrictions from Shares previously delivered under the Plan until (a) all Award conditions have been met or removed to the Company's satisfaction, (b) as determined by the Company, all other legal matters regarding the issuance and delivery of such Shares have been satisfied, including, without limitation, any applicable securities laws and stock exchange or stock market rules and regulations, (c) any approvals from governmental agencies that the Company determines are necessary or advisable have been obtained, and (d) the Participant has executed and delivered to the Company such representations or agreements as the Administrator deems necessary or appropriate to satisfy Applicable Law. The inability or impracticability of the Company to obtain or maintain authority to issue or sell any securities from any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained, and shall constitute circumstances in which the Administrator may determine to amend or cancel Awards pertaining to such Shares, with or without consideration to the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Acceleration</u>. The Administrator may at any time provide that any Award will become immediately vested and fully or partially exercisable, free of some or all restrictions or conditions, or otherwise fully or partially realizable.

**ARTICLE XI.**

**MISCELLANEOUS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;<u>No Right to Employment or Other Status</u>. No person will have any claim or right to be granted an Award, and the grant of an Award will not be construed as giving a Participant the right to commence or continue employment or any other relationship with the Company or a Subsidiary. The Company and its Subsidiaries expressly reserve the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an Award Agreement or other written agreement between the Participant and the Company or any Subsidiary.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2&nbsp;&nbsp;&nbsp;&nbsp;<u>No Rights as Stockholder; Certificates</u>. Subject to the Award Agreement, no Participant or Designated Beneficiary will have any rights as a stockholder with respect to any Shares to be distributed under an Award until becoming the record holder of such Shares. Notwithstanding any other provision of the Plan, unless the Administrator otherwise determines or Applicable Law requires, the Company will not be required to deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares may be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on any share certificate or book entry to reference restrictions applicable to the Shares (including, without limitation, restrictions applicable to Restricted Stock).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effective Date</u>. The Plan was approved by the Board on May 13, 2026. The Plan will become effective on the date immediately prior to the date the Company's registration statement relating to its initial public offering becomes effective (the "***Effective Date***"), provided that it is approved by the Company's stockholders prior to such date and occurring within 12 months following the date the Board approved the Plan. If the Plan is not approved by the Company's stockholders within the foregoing time frame, the Plan will not become effective. No Incentive Stock Option may be granted pursuant to the Plan after the tenth anniversary of the earlier of (a) the date the Plan was approved by the Board or (b) the date the Plan was approved by the Company's stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment of Plan</u>. The Board may amend, suspend or terminate the Plan at any time and from time to time; provided that (a) no amendment requiring stockholder approval to comply with Applicable Law shall be effective unless approved by the stockholders, and (b) no amendment, other than an increase to the Overall Share Limit or pursuant to Article IX or Section 11.6, may materially and adversely affect any Award outstanding at the time of such amendment without the affected Participant's consent. No Awards may be granted under the Plan during any suspension period or after Plan termination. Awards outstanding at the time of any Plan suspension or termination will continue to be governed by the Plan and the Award Agreement, each as in effect before such suspension or termination. The Board will obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Provisions for Foreign Participants</u>. The Administrator may modify Awards granted to Participants who are nationals of a country other than the United States or employed or residing outside the United States, establish subplans or procedures under the Plan or take any other necessary or appropriate action to address Applicable Law, including (a) differences in laws, rules, regulations or customs of such jurisdictions with respect to tax, securities, currency, employee benefit or other matters, (b) listing and other requirements of any non-U.S. securities exchange, and (c) any necessary local governmental or regulatory exemptions or approvals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;*General*. To the extent that the Administrator determines that any Award granted under the Plan is subject to Section 409A, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A. The Company intends that all Awards be structured to comply with, or be exempt from, Section 409A and, to the extent applicable, the extent applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A, such that no adverse tax consequences, interest, or penalties under Section 409A apply. Notwithstanding anything in the Plan or any Award Agreement to the contrary, the Administrator may, without a Participant's consent, amend this Plan or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or

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appropriate to preserve the intended tax treatment of Awards, including any such actions intended to (i) exempt this Plan or any Award from Section 409A, or (ii) comply with Section 409A, including regulations, guidance, compliance programs and other interpretative authority that may be issued after an Award's grant date. The Company makes no representations or warranties as to an Award's tax treatment under Section 409A or otherwise. The Company will have no obligation under this Section 11.6 or otherwise to avoid the taxes, penalties or interest under Section 409A with respect to any Award and will have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan are determined to constitute noncompliant "nonqualified deferred compensation" subject to taxes, penalties or interest under Section 409A.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Separation from Service*. If an Award constitutes "nonqualified deferred compensation" under Section 409A, any payment or settlement of such Award upon a Participant's Termination of Service will, to the extent necessary to avoid taxes under Section 409A, be made only upon the Participant's "separation from service" (within the meaning of Section 409A), whether such "separation from service" occurs upon or after the Participant's Termination of Service. For purposes of this Plan or any Award Agreement relating to any such payments or benefits, references to a "termination," "termination of employment" or like terms means a "separation from service."

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Payments to Specified Employees*. Notwithstanding any contrary provision in the Plan or any Award Agreement, any payment(s) of "nonqualified deferred compensation" required to be made under an Award to a "specified employee" (as defined under Section 409A and as the Administrator determines) due to such person's "separation from service" will, to the extent necessary to avoid taxes under Section 409A(a)(2)(B)(i) of the Code, be delayed for the six-month period immediately following such "separation from service" (or, if earlier, until the specified employee's death) and will instead be paid (as set forth in the Award Agreement) on the day immediately following such six-month period or as soon as administratively practicable thereafter (without interest). Any payments of "nonqualified deferred compensation" under such Award payable more than six months following the Participant's "separation from service" will be paid at the time or times the payments are otherwise scheduled to be made.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Separate Payments*. If an Award includes a "series of installment payments" within the meaning of Section 1.409A-2(b)(2)(iii) of Section 409A, the Participant's right to the series of installment payments will be treated as a right to a series of separate payments and not as a right to a single payment and, if an Award includes "dividend equivalents" within the meaning of Section 1.409A-3(e) of Section 409A, the Participant's right to receive the dividend equivalents will be treated separately from the right to other amounts under the Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Change in Control*. Any payment due upon a Change in Control of the Company will be paid only if such Change in Control constitutes a "change in ownership" or "change in effective control" within the meaning of Section 409A, and in the event that such Change in Control does not constitute a "change in the ownership" or "change in the effective control" within the meaning of Section 409A, such Award for which payment is due upon a Change in Control of the Company will vest upon the Change in Control and any payment will be delayed until the first compliant date under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Liability</u>. Except as limited by Applicable Law and notwithstanding any other provisions of the Plan, no individual acting as a Director, officer or other Employee will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan or any Award, and such individual will not be personally

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liable with respect to the Plan because of any contract or other instrument executed in such person's capacity as an Administrator, Director, officer or other Employee. The Company will indemnify and hold harmless each Director, officer or other Employee that has been or will be granted or delegated any duty or power relating to the Plan's administration or interpretation, against any cost or expense (including attorneys' fees) or liability (including any sum paid in settlement of a claim with the Administrator's approval) arising from any act or omission concerning this Plan unless arising from such person's own fraud or bad faith; provided that such person gives the Company an opportunity, at its own expense, to handle and defend the same before undertaking to handle and defend it on such person's own behalf.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Data Privacy</u>. As a condition for receiving any Award, each Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this Section 11.9 by and among the Company and its Subsidiaries and affiliates exclusively for implementing, administering and managing the Participant's participation in the Plan. The Company and its Subsidiaries and affiliates may hold certain personal information about a Participant, including the Participant's name, address and telephone number; birthdate; social security, insurance number or other identification number; salary; nationality; job title(s); any Shares held in the Company or its Subsidiaries and affiliates; and Award details, to implement, manage and administer the Plan and Awards (the "***Data***"). The Company and its Subsidiaries and affiliates may transfer the Data amongst themselves as necessary to implement, administer and manage a Participant's participation in the Plan, and the Company and its Subsidiaries and affiliates may transfer the Data to third parties assisting the Company with Plan implementation, administration and management. These recipients may be located in the Participant's country, or elsewhere, and the Participant's country may have different data privacy laws and protections than a recipient's country. By accepting an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement, administer and manage the Participant's participation in the Plan, including any required Data transfer to a broker or other third party with whom the Company or the Participant may elect to deposit any Shares. The Data related to a Participant will be held only as long as necessary to implement, administer, and manage the Participant's participation in the Plan. A Participant may, at any time, view the Data that the Company holds regarding such Participant, request additional information about the storage and processing of the Data regarding such Participant, recommend any necessary corrections to the Data regarding the Participant or refuse or withdraw the consents in this Section 11.9 in writing, without cost, by contacting the local human resources representative. The Company may cancel Participant's ability to participate in the Plan and, in the Administrator's sole discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws the consents in this Section 11.9. For more information on the consequences of refusing or withdrawing consent, Participants may contact their local human resources representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any portion of the Plan or any action taken under it is held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provisions had been excluded, and the illegal or invalid action will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Documents</u>. If any contradiction occurs between the Plan and any Award Agreement or other written agreement between a Participant and the Company (or any Subsidiary), the Plan will govern, unless such Award Agreement or other written agreement was approved by the Administrator and expressly provides that a specific provision of the Plan will not apply. For clarity, the foregoing sentence shall not limit the applicability of any additive language contained in an Award Agreement or other written agreement which provides supplemental or additional terms not inconsistent with the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The Plan and all Awards will be governed by and interpreted in accordance with the laws of the State of Delaware, without regard to the conflict of law rules thereof or of any other jurisdiction. By accepting an Award, each Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case located in the State of Delaware, for any action arising out of or relating to the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By accepting an Award, each Participant irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of the Plan or Award hereunder in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting an Award, each Participant irrevocably and unconditionally waives, to the fullest extent permitted by Applicable Law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or any Award hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Clawback Provisions</u>. All Awards (including the gross amount of any proceeds, gains or other economic benefit the Participant actually or constructively receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award) will be subject to recoupment by the Company to the extent required to comply with Applicable Law or any policy of the Company providing for the reimbursement of incentive compensation, whether or not such policy was in place at the time of grant of an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles and Headings</u>. The titles and headings in the Plan are for convenience of reference only and, if any conflict, the Plan's text, rather than such titles or headings, will control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Conformity to Applicable Law</u>. Participant acknowledges that the Plan is intended to conform to the extent necessary with Applicable Law. Notwithstanding anything herein to the contrary, the Plan and all Awards will be administered only in a manner intended to conform with Applicable Law. To the extent Applicable Law permits, the Plan and all Award Agreements will be deemed amended as necessary to conform to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship to Other Benefits</u>. No payment under the Plan will be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary, except as expressly provided in writing in such other plan or an agreement thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Unfunded Status of Awards</u>. The Plan is intended to be an "unfunded" plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations Applicable to Section 16 Persons</u>. Notwithstanding any other provision of the Plan, the Plan and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3 of the Exchange Act and any amendments thereto) that are requirements for the application of such exemptive rule. To the extent

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permitted by Applicable Law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Prohibition on Executive Officer and Director Loans</u>. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a Director or an "executive officer" of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to make payment with respect to any Awards granted under the Plan, or continue any extension of credit with respect to such payment, with a loan from the Company or a loan arranged by the Company in violation of Section 13(k) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Broker-Assisted Sales</u>. In the event of a broker-assisted sale of Shares in connection with the payment of amounts owed by a Participant under or with respect to the Plan or Awards, including amounts to be paid under the final sentence of Section 10.5: (a) any Shares to be sold through the broker-assisted sale will be sold on the day the payment first becomes due, or as soon thereafter as practicable; (b) such Shares may be sold as part of a block trade with other Participants in the Plan in which all Participants receive an average price; (c) the applicable Participant will be responsible for all broker's fees and other costs of sale, and by accepting an Award, each Participant agrees to indemnify and hold the Company and its Directors, officers and other Employees harmless from any losses, costs, damages, or expenses relating to any such sale; (d) to the extent the Company or its designee receives proceeds of such sale that exceed the amount owed, the Company will pay such excess in cash to the applicable Participant as soon as reasonably practicable; (e) the Company and its designees are under no obligation to arrange for such sale at any particular price; and (f) in the event the proceeds of such sale are insufficient to satisfy the Participant's applicable obligation, the Participant may be required to pay immediately upon demand to the Company or its designee an amount in cash sufficient to satisfy any remaining portion of the Participant's obligation.

**\* \* \* \* \***

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**NEUTRON HOLDINGS, INC.**

**2026 INCENTIVE AWARD PLAN**

**STOCK OPTION GRANT NOTICE**

Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), pursuant to its 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"), hereby grants to the holder listed below ("***Participant***"), an option to purchase the number of shares of the Company's Common Stock (the "***Shares***"), set forth below (the "***Option***"). This Option is subject to all of the terms and conditions set forth herein, as well as in the Plan and the Stock Option Agreement attached hereto as **Exhibit A** (the "***Stock Option Agreement***") including any special provisions for Participant's country of residence, if any, set forth in the Appendix for Participant's Country (the "***Country Provisions***"), each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice, the Country Provisions and the Stock Option Agreement.

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| | |
|:---|:---|
| **Participant:** | [____________] |
| **Grant Date:** | [____________] |
| **Vesting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commencement<br>Date:** | [____________] |
| **Exercise Price per Share:** | $[___________] |
| **Total Exercise Price:** | $[___________] |
| **Total Number of Shares Subject to the Option:** | [____________] |
| **Expiration Date:** | [____________] |
| **Vesting Schedule:** | [____________] |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Type of Option:** | □ | Incentive Stock Option | □ | Nonqualified Stock Option |

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If the Company uses an electronic capitalization table system (such as Shareworks, Certent, Fidelity or Equity Edge) and the fields in this Grant Notice are blank or the information is otherwise provided in a different format electronically, the blank fields and other information will be deemed to come from the electronic equity administration system and is considered part of this Grant Notice. In addition, the Company's signature below shall be deemed to have occurred by the Company's input of the Option in such electronic equity administration system and the Participant's signature below shall be deemed to have occurred by the Participant's online acceptance of the Option through such electronic equity administration system.

By his or her signature and the Company's signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Stock Option Agreement and this Grant Notice. Participant has reviewed the Plan, the Stock Option Agreement and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, the Stock Option Agreement and this Grant Notice. Participant hereby agrees to accept as binding, conclusive and final all

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decisions or interpretations of the Administrator upon any questions arising under the Plan, the Stock Option Agreement or this Grant Notice.

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| | |
|:---|:---|
| **NEUTRON&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HOLDINGS,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INC.:**<br>**HOLDER:** | **PARTICIPANT:** |
| By: | By: |
| Print | Print |
| Name:  | Name:  |
| Title: |  |
| Address:  | Address:  |

---

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**EXHIBIT A**

**TO STOCK OPTION GRANT NOTICE**

**STOCK OPTION AGREEMENT**

Pursuant to the Stock Option Grant Notice (the "***Grant Notice***") to which this Stock Option Agreement (this "***Agreement***") is attached, Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), has granted to Participant an Option under the Company's 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"), to purchase the number of Shares indicated in the Grant Notice.

**ARTICLE XII.**

**GENERAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Terms of Plan</u>. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. If the Country Provisions apply to Participant, in the event of a conflict between the terms of this Agreement, the Grant Notice or the Plan and the Country Provisions, the terms of the Country Provisions shall control.

**ARTICLE XIII.**

**GRANT OF OPTION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant of Option</u>. In consideration of Participant's past and/or continued employment with or service to the Company or any Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the "***Grant Date***"), the Company irrevocably grants to Participant the Option to purchase any part or all of an aggregate of the number of Shares set forth in the Grant Notice, upon the terms and conditions set forth in the Plan, this Agreement, and the Country Provisions (if applicable), subject to adjustments as provided in Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Price</u>. The exercise price of the Shares subject to the Option shall be as set forth in the Grant Notice, without commission or other charge; *provided*, *however*, that the exercise price per share of the Shares subject to the Option shall not be less than 100% of the Fair Market Value of a Share on the Grant Date. Notwithstanding the foregoing, if this Option is designated as an Incentive Stock Option and Participant is a Greater Than 10% Stockholder as of the Grant Date, the exercise price per share of the Shares subject to the Option shall not be less than 110% of the Fair Market Value of a Share on the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Consideration to the Company</u>. In consideration of the grant of the Option by the Company, Participant agrees to render faithful and efficient services to the Company and its Subsidiaries, as applicable.

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**ARTICLE XIV.**

**PERIOD OF EXERCISABILITY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Commencement of Exercisability</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to this Section 3.1 and Sections 3.2, 3.3, 5.11 and 5.17 hereof, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No portion of the Option which has not become vested and exercisable at the date of Participant's Termination of Service shall thereafter become vested and exercisable, except as may be otherwise provided by the Administrator or as set forth in a written agreement between the Company (or any Subsidiary that is the employer of Participant) and Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding Section 3.1(a) hereof and the Grant Notice, but subject to Section 3.1(b) hereof, in the event of a Change in Control the Option shall be treated pursuant to Sections 9.2 and 9.3 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Duration of Exercisability</u>. The installments provided for in the vesting schedule set forth in the Grant Notice are cumulative. Each such installment which becomes vested and exercisable pursuant to the vesting schedule set forth in the Grant Notice shall remain vested and exercisable until it becomes unexercisable under Section 3.3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Expiration of Option</u>. The Option may not be exercised to any extent by anyone after the first to occur of the following events:

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Expiration Date set forth in the Grant Notice, which shall in no event be more than ten years from the Grant 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;If this Option is designated as an Incentive Stock Option and Participant, at the time the Option was granted, was a Greater Than 10% Stockholder, the expiration of five years from the Grant 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;(c)&nbsp;&nbsp;&nbsp;&nbsp;The expiration of three months from the date of Participant's Termination of Service, unless such termination occurs by reason of Participant's death or Disability or by the Company for Cause;

&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)&nbsp;&nbsp;&nbsp;&nbsp;The expiration of one year from the date of Participant's Termination of Service by reason of Participant's death or Disability; 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;The date of Participant's Termination of Service for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Tax Consequences of Incentive Stock Options</u>. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Stock Options, including the Option (if applicable), are exercisable for the first time by Participant in any calendar year exceeds

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$100,000, the Option and such other options shall be Nonqualified Stock Options to the extent necessary to comply with the limitations imposed by Section 422(d) of the Code. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking the Option and other "incentive stock options" into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder. Participant also acknowledges that an Incentive Stock Option exercised more than three months after Participant's Termination of Employment, other than by reason of death or Disability, will be taxed as a Nonqualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Indemnity.</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;**(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant agrees to hold harmless, indemnify and keep indemnified</u> <u>the Company, any Subsidiary and Participant's employing company, if different, from and</u> <u>against any liability for or obligation to pay any Tax-Related Items that is attributable to (1)</u> <u>the grant or exercise of, or any benefit derived by Participant from, the Option, (2) the</u> <u>acquisition by Participant of the Shares on exercise of the Option or (3) the disposal of any</u> <u>Shares.</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;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>The Option cannot be exercised until Participant has made such</u> <u>arrangements as the Company may require for the satisfaction of any Tax-Related Items that</u> <u>may arise in connection with the exercise of the Option or the acquisition of the Shares by</u> <u>Participant. The Company shall not be required to issue, allot or transfer Shares until</u> <u>Participant has satisfied this obligation.</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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby acknowledges that the Company (i) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option and (ii) does not commit to and is under no obligation to structure the terms of the grant or any aspect of any Award, including the Option, to reduce or eliminate Participant's liability for Tax-Related Items or achieve any particular tax result. Furthermore, if Participant becomes subject to tax in more than one jurisdiction between the date of grant of an Award, including the Option, and the date of any relevant taxable event, Participant acknowledges that the Company may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

**ARTICLE XV.**

**EXERCISE OF OPTION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Person Eligible to Exercise</u>. Except as provided in Section 5.3 hereof, during the lifetime of Participant, only Participant may exercise the Option or any portion thereof, unless it has been disposed of pursuant to a DRO. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised by the deceased Participant's personal representative or by any person empowered to do so under the deceased Participant's will or under the then applicable laws of descent and distribution.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Partial Exercise</u>. Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3 hereof. However, the Option shall not be exercisable with respect to fractional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Manner of Exercise</u>. The Option, or any exercisable portion thereof, may be exercised solely by delivery to the Secretary of the Company (or any third party administrator or other person or entity designated by the Company; for the avoidance of doubt, delivery shall include electronic delivery), during regular business hours, of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under Section 3.3 hereof:

&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)&nbsp;&nbsp;&nbsp;&nbsp;An exercise notice in a form specified by the Administrator (which may be in paper or electronic form), stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Administrator. The notice shall be signed by Participant or other person then entitled to exercise the Option or such portion of the Option;

&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)&nbsp;&nbsp;&nbsp;&nbsp;The receipt by the Company of full payment for the Shares with respect to which the Option or portion thereof is exercised, including payment of any applicable Tax-Related Items, which shall be made by deduction from other compensation payable to Participant or in such other form of consideration permitted under Section 4.4 hereof that is acceptable to the Company;

&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)&nbsp;&nbsp;&nbsp;&nbsp;Any other written representations or documents as may be required in the Administrator's sole discretion to evidence compliance with the Securities Act, the Exchange Act or any other Applicable Law; 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 hereof by any person or persons other than Participant, appropriate proof of the right of such person or persons to exercise the Option.

Notwithstanding any of the foregoing, the Company shall have the right to specify all conditions of the manner of exercise, which conditions may vary by country and which may be subject to change from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Method of Payment</u>. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of Participant:

&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)&nbsp;&nbsp;&nbsp;&nbsp;Cash or check;

&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)&nbsp;&nbsp;&nbsp;&nbsp;With the consent of the Administrator, surrender of Shares (including, without limitation, Shares otherwise issuable upon exercise of the Option) held for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof; or

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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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Other legal consideration acceptable to the Administrator (including, without limitation, through the delivery of a notice that Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; *provided* that payment of such proceeds is then made to the Company at such time as may be required by the Company, but in any event not later than the settlement of such sale).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Issuance of Shares</u>. The Shares deliverable upon the exercise of the Option, or any portion thereof, may be either previously authorized but unissued Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any Shares purchased upon the exercise of the Option or portion thereof prior to fulfillment of all of the conditions in Section 10.7 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant's Representations</u>. If the Shares issuable hereunder have not been registered under the Securities Act or any applicable state laws on an effective registration statement at the time of exercise, Participant shall, if required by the Company, concurrently with such exercise, make such written representations as are deemed necessary or appropriate by the Company or its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as Stockholder</u>. The holder of the Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of any Shares purchasable upon the exercise of any part of the Option unless and until such Shares shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Article IX of the Plan.

**ARTICLE XVI.**

**OTHER PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u>. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Whole Shares</u>. The Option may only be exercised for whole Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability</u>. The Option shall be subject to the restrictions on transferability set forth in Section 10.1 of the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Consultation</u>. Participant understands that Participant may suffer adverse tax consequences as a result of the grant, vesting or exercise of the Option, or with the purchase or disposition of the Shares subject to the Option. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of such Shares and that Participant is not relying on the Company for any tax advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Agreement</u>. Subject to the limitation on the transferability of the Option contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments Upon Specified Events</u>. The Administrator may accelerate the vesting of the Option in such circumstances as it, in its sole discretion, may determine. Participant acknowledges that the Option is subject to adjustment, modification and termination in certain events as provided in this Agreement and Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company's principal office, and any notice to be given to Participant shall be addressed to Participant at Participant's last address reflected on the Company's records. By a notice given pursuant to this Section 5.7, either party may hereafter designate a different address for notices to be given to that party. Any notice which is required to be given to Participant shall, if Participant is then deceased, be given to the person entitled to exercise his or her Option pursuant to Section 4.1 hereof by written notice under this Section 5.7. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service (or similar non-U.S. entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles</u>. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. By entering into this Agreement, Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case located in the State of Delaware, for any action arising out of or relating to this Agreement and the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By entering into this Agreement, Participant irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of the Plan or this Agreement in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an

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inconvenient forum. By entering into this Agreement, Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Conformity to Securities Laws</u>. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any other Applicable Law. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to conform to such Applicable Law. To the extent permitted by Applicable Law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; *provided, however,* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the Option in any material way without the prior written consent of Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The Company may assign any of its rights and delegate any of its obligations under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 5.3 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Notification of Disposition</u>. If this Option is designated as an Incentive Stock Option, Participant shall give prompt notice to the Company of any disposition or other transfer of any Shares acquired under this Agreement if such disposition or transfer is made (a) within two years from the Grant Date with respect to such Shares or (b) within one year after the transfer of such Shares to Participant. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by Participant in such disposition or other transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations Applicable to Section 16 Persons</u>. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, then the Plan, the Option and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Not a Contract of Service Relationship</u>. Nothing in this Agreement or in the Plan shall confer upon Participant any right to commence or continue to serve as an Employee or other Service Provider or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the

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employment or services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise by Applicable Law or in a written agreement between the Company or a Subsidiary (as applicable) and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. The Plan, the Grant Notice and this Agreement (including the Country Provisions) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, *provided* that the Option shall be subject to any accelerated vesting provisions in any written agreement between Participant and the Company (or any Subsidiary who is the employer of Participant) or a Company plan pursuant to which Participant is eligible to participate, in each case, in accordance with the terms therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A</u>. This Option is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, "***Section 409A***"). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that the Option (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate either for the Option to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Participant's Rights</u>. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to the Option, as and when exercised pursuant to the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Rules Particular To Specific Countries</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Generally*. Participant shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form approved by the Company) under which any liability to the Company's (or a Subsidiary's) Tax-Related Items, including, but not limited to, National Insurance Contributions ("***NICs***") and the Fringe Benefit Tax, is transferred to and met by Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Tax Indemnity*. Participant shall indemnify and keep indemnified the Company and any of its subsidiaries from and against any Tax-Related Items.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Country Provisions for Options Granted to Participants</u>. This Option shall be subject to the Country Provisions, if any, for Participant's country of residence, as set forth in the Country Provisions. If Participant relocates to one of the countries included in the Country Provisions during the life of this Option, the special provisions for such country shall apply to Participant, to the extent the Company determines that the application of such provisions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. The Company reserves the right to impose other requirements on this Option and the Shares purchased upon exercise of this Option, to the extent the Company determines it is necessary or advisable in order to comply with local laws or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

\*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*

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**APPENDIX**

**TO**

**STOCK OPTION AGREEMENT**

**Special Country Provisions for Options for Participants**

This Appendix includes special terms and conditions applicable to Participants in the countries below. These terms and conditions are in addition to those set forth in the Stock Option Agreement (the "***Agreement***"), the Stock Option Grant Notice to which the Agreement is attached, and the Plan, and to the extent there are any inconsistencies between these terms and conditions and those set forth in the Agreement, these terms and conditions shall prevail. Any capitalized term used in this Appendix without definition shall have the meaning ascribed to such term in the Plan or the Agreement, as applicable.

In accepting the Option, Participant acknowledges, understands and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all decisions with respect to future option or other grants, if any, will be at the sole discretion of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Option grant and Participant's participation in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company, or, if different, Participant's employer, or any Subsidiary or parent or affiliate of the Company, and shall not interfere with the ability of the Company, the employer or any Subsidiary or parent or affiliate of the Company, as applicable, to provide for a termination of Participant's service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Participant is voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Option and any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;for labor law purposes, the Option and any Shares acquired under the Plan and the income and value of same, are not part of normal or expected, wages, salary or other compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, holiday

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pay, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, any Subsidiary, Participant's employer, its parent, or any affiliate of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if the underlying Shares do not increase in value, the Option will have no value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;if Participant exercises the Option and acquires Shares, the value of such Shares may increase or decrease in value, even below the exercise price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;neither the Company, the employer nor any parent, Subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the United States Dollar that may affect the value of the Option or of any amounts due to Participant pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;nothing in the Plan or this Agreement shall give the Participant any rights to compensation or damages including, without limitation, for any loss or potential loss that the Participant may suffer by reason of the cancellation and forfeiture of the RSUs as a result of the Participant's Termination of Service including where any termination is subsequently held to be wrongful or unfair.

**<u>Securities Law Notice</u>:** Unless otherwise noted, neither the Company nor the Shares are registered with any local stock exchange or under the control of any local securities regulator outside the United States. The Agreement (of which this Appendix is a part), the Plan, and any other communications or materials that Participant may receive regarding participation in the Plan do not constitute advertising or an offering of securities outside the United States, and the issuance of securities described in any Plan-related documents is not intended for public offering or circulation in Participant's jurisdiction.

**General Provisions**

**<u>Data Privacy</u>**: **Participant acknowledges and agrees to the data privacy provisions set forth in Section 11.8 of the Plan.**

**<u>Notifications</u>**: This Appendix also includes information relating to exchange control and other issues of which Participant should be aware with respect to his or her participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the respective countries as of [____] 2026. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information herein as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the Option is exercised or Shares acquired under the Plan are sold. In addition, the information contained in this Appendix is

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general in nature and may not apply to Participant's particular situation, and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to his or her situation. Finally, Participant understands that if Participant is a citizen or resident of a country other than the one in which he or she is currently residing or working, the information contained herein may not be applicable to Participant.

**<u>English Language</u>**: By participating in the Plan, Participant acknowledges that Participant is proficient in the English language, or has consulted with an advisor who is sufficiently proficient in English, so as to allow him or her to understand the terms and conditions of the Plan and the Agreement applicable to Participant's country of residence. If Participant has received the Agreement and the Plan applicably to his or her country of residence or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

**<u>Currency</u>**: Participant understands that, any amounts related to the Option will be denominated in U.S. dollars and will be converted to any local currency using a prevailing exchange rate in effect at the time such conversion is performed, as determined by the Company. Participant understands and agrees that neither the Company nor any affiliate shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the U.S. dollar that may affect the value of the Option, or of any amounts due to Participant or as a result of the subsequent sale of any Shares acquired under the Option.

**<u>Foreign Asset/Account Reporting; Exchange</u> <u>Controls</u>**: Participant's country of residence may have certain foreign asset and/or account reporting or exchange control requirements which may affect his or her ability to acquire or hold Shares under the Agreement or cash received (including proceeds arising from the sale of Shares) in a brokerage or bank account outside Participant's country. Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country. Participant may also be required to repatriate sale proceeds or other funds received as a result of his/her participation in the Plan to his or her country through a designated broker or bank and/or within a certain time after receipt. Participant is responsible for ensuring compliance with such regulations and should consult with his or her personal legal advisor for any details.

**<u>No Advice Regarding Grant</u>**: The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan or the Agreement or any receipt of the Option or sale of Shares acquired upon exercise of the Option. Participant should consult his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan and the Agreement before taking any action related to the Option or the Shares.

**<u>Imposition of Other Requirements</u>**: The Company reserves the right to impose other requirements on Participant, on the Option and/or any Shares issuable upon exercise of the Option, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

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**CANADA**

<u>Securities Laws.</u> 

Certain defined terms in the Plan are modified or supplemented as set forth below.

The term "affiliate" which appears in the defined terms "Cause" and "Company" is modified such that an "affiliate" shall be a defined term and shall mean the Company's parent or an entity over which the Company or its parent has the power to direct the management and policies of by virtue of ownership or direction over voting securities in such entity (holding over 50%) or by a written agreement.

The defined term "Consultant" is supplemented by the following: In order to qualify as a Consultant in a jurisdiction of Canada, a person must provide services to the Company, a parent or an Affiliate under a written contract and must spend or will spend a significant amount of time and attention on the affairs and business of the Company, a parent or an Affiliate.

For so long as the Company is not a reporting issuer (public company) in any jurisdiction of Canada, does not have a head office in Canada, and does not have a majority of its executive officers or directors ordinarily resident in Canada, subject to any contractual restrictions, a Canadian Participant can sell and/or transfer its Shares to a person or company outside of Canada or through an exchange, or a market, outside of Canada.

<u>Method of Exercise</u>. Notwithstanding anything to the contrary in the Stock Option Agreement or the Plan, due to tax considerations in Canada, Participant will not be permitted to pay the exercise price by delivering to the Company already-owned Shares, nor will the Company be permitted to cancel or otherwise settle any Options through cash payments. The Company reserves the right to permit such method of exercise price payment to the extent permitted or deemed desirable based on developments in the Applicable Law.

<u>Termination of Service</u>. Where there has been a Termination of Service as defined in the Plan will be determined without regard to any period of statutory, contractual, common law, civil law or other reasonable notice of termination or any period of salary continuance or deemed employment or other engagement and regardless of whether any such termination was lawful.

<u>Personal Information</u>. The following provision supplements Section 11.8 (Data Privacy) of the Plan:

Participant authorizes the Company and its representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. Participant further authorizes the Company, or any parent or subsidiary of the Company and any stock plan service provider that may be selected by the Company to assist with the Plan to disclose and discuss the Plan with their respective advisors. Participant further authorizes the Company and/or any parent or subsidiary of the Company to record such information and to keep such information in Participant's employee file.

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The following provisions will apply to Participants who are resident in Québec:

<u>Language Consent</u>. The parties acknowledge that it is their express wish that the Stock Option Agreement, including this Addendum, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

<u>Consentement Relatif à la Langue Utilisée</u>. *Les parties reconnaissent avoir souhaité expressément que la convention ("Agreement"), ainsi que cette Annexe, ainsi que tous les documents, les notices et la documentation juridique fournis ou mis en œuvre ou institués directement ou indirectement, relativement aux présentes, soient rédigés en anglais.*

**FRANCE**

<u>Language Consent</u>. By accepting this grant of Option, Participant confirms having read and understood the Plan and this Agreement, which were provided in the English language. Participant accepts the terms of those documents accordingly.

*En acceptant ces Droits sur des Actions Assujetties à des Restrictions, le Participant confirme avoir lu et compris le Plan et le présent Contrat d'Attribution qui ont été transmis en langue anglaise. Le Participant accepte les termes et conditions de ces documents en connaissance de cause.*

<u>Tax Information</u>. The Option is not intended to qualify for special tax or social security treatment in France, including without limitation, under Sections L. 225-197-1 to L. 225-197-6 of the French Commercial Code. Participant is encouraged to consult with a personal tax advisor to understand the tax and social insurance implications of the Option.

<u>Foreign Asset/Account Reporting Information</u>. Participant may hold Shares acquired upon vesting/exercise of the Option, any proceeds resulting from the sale of Shares or any dividends paid on such Shares outside of France, *provided* Participant declares all foreign bank and brokerage accounts (including any accounts that were opened or closed during the tax year) with his or her annual income tax return. Failure to complete this reporting may trigger penalties for Participant.

**GERMANY**

***Terms and Conditions***

<u>Tax Obligations</u>. The following provision supplements Section 3.3 of the Agreement:

Each Participant who is either (a) resident for tax purposes in Germany or (b) otherwise subject to German income tax and/or social security contributions (the "***German Participant***") in respect of earnings received from the Company or any of its affiliates being the Participant's employing entity (the "***Employer***"), if different shall notify the Employer of their participation in the Plan and any grant, exercise, vesting, issuance or payment under the Plan.

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The German Participant shall indemnify and hold harmless the Employer from and against any liability for or obligation to pay any Tax Liability arising in connection with the German Participant's participation in the Plan.

The Option cannot be exercised until Participant has made such arrangements with the company that is obliged to pay the Tax Liability as the Company may require for the satisfaction of any Tax Liability that may arise in connection with the exercise of the Option and/or the acquisition of the Shares by Participant. The Company shall not be required to issue, allot or transfer Shares until Participant has satisfied this obligation.

The Employer shall have the authority and the right to deduct or withhold or require the German Participant to remit to the Employer, an amount sufficient to satisfy any Tax Liability required to be withheld and/or paid including, without limitation, the authority to deduct such amount from other compensation payable to the German Participant by the Employer.

„***Tax Liability***" shall be any liability for income tax, wage tax, solidarity surcharge, employee share of social security contributions, church tax, VAT and any other service or employment related taxes (as applicable), and in this regard also the German Participant's portions arising as a result of the Plan. Whenever Awards are granted or paid, the Company or the Employer shall notify the German Participant of the amount of Tax Liability, if any, which must be withheld by the Employer under applicable tax laws. For the purposes of withholding, fair market value shall be determined under applicable German law and its interpretation by the German tax authorities.

The German Participant understands that they may suffer adverse tax consequences as a result of the Awards which may exceed the amount, if any, actually withheld by the Company or the Employer. Neither the Company nor the Employer or any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the granting, vesting, exercise, issuance or payment of Awards. The Company, the Employer and the Subsidiaries do not commit and are under no obligation to structure any Awards to reduce or eliminate the German Participant's Tax Liability. The German Participant represents that the German Participant has had the opportunity to consult with any tax consultants the German Participant deems advisable in connection with the Awards and that the German Participant is not relying on the Company or the Employer for any tax advice. The German Participant is relying solely on such advisors and not on any statements or representations of the Company, the German Participant's Employer or any of their agents.

<u>Labor Law Acknowledgment</u>. The German Participant acknowledges that (i) any Awards granted pursuant to the Plan are discretionary, (ii) the Plan and any supplementary agreements are not a part of the terms and conditions of the German Participant's employment with the Employer and (iii) the income from the Awards, if any, is not part of the German Participant's entitlement to remuneration from the Employer and is not to be considered in valuing employment benefits or severance payable in the event of the termination of the German Participant's employment with the Employer.

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***Notifications***

<u>Exchange Control Information</u>. Cross-border payments in connection with the sale of securities in excess of EUR 12,500 must be reported monthly by accessing the electronic General Statistics Reporting Portal (*Allgemeines Meldeportal Statistik*) via the Bundesbank's website (<u>www.bundesbank.de</u>). In addition, Participant may be required to report the acquisition of securities if the value of the securities acquired exceeds EUR 12,500 to the Bundesbank via email or telephone.

<u>Foreign Asset/Account Reporting Information</u>. German residents must notify their local tax office of the acquisition of Shares when they file their personal income tax returns for the relevant year if the value of the Shares acquired exceeds EUR 150,000 or in the unlikely event that the resident holds Shares exceeding 10% of the Company's total Shares outstanding. However, if the Shares are listed on a recognized U.S. stock exchange and Participant owns less than 1% of the total Stock, this requirement will not apply even if Shares with a value exceeding EUR 150,000 are acquired. Participant should consult with Participant's personal advisor(s) regarding any personal foreign asset/foreign account tax obligations Participant may have in connection with Participant's participation in the Plan.

<u>Insider Trading</u>. By accepting the Awards, the German Participant acknowledges that they may be subject to insider trading rules, which may affect the sale of shares acquired upon under the Plan. German securities laws prohibit insider trading according to Article 14 of the Market Abuse Regulation (VO (EU) 596/2014) if the shares are traded, admitted or for which admission on trading has been requested on a trading venue in the European Union.

<u>Data Protection</u>. This provision replaces the section of the Appendix incorporating Section 11.8 of the Plan ("***Data Privacy***"), which shall be disregarded in its entirety. The Company acts as controller in relation to the personal data which may be shared by the German Participant under the Plan, the Agreement and this Appendix. Such personal data will be processed in compliance with applicable data protection laws, in particular the EU General Data Protection Regulation (EU) 2016/679 ("***GDPR***"). The Company independently determines the purposes and means for which personal data is processed under the Plan. To perform the Plan and to comply with the provisions therein and statutory retention obligations, the Company must collect, store, and otherwise process certain personal data of the German Participant (e.g. including, name contact details, and bank account details). Further information about the processing of personal data is set out in the privacy notice attached hereto as <u>Exhibit 1</u>.

**MALAYSIA**

***Terms and Conditions***

<u>Securities Law Restrictions</u>. Should the Company, in its sole discretion, determine that it is not feasible or practicable to comply with applicable securities laws in Malaysia, the Company may refuse to permit the exercise of this Option and to deliver any Shares subject to this Option.

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***Notifications***

<u>Director Notification Obligation</u>. Participant understands that if Participant is a director of a Malaysian Related Company, Participant is subject to certain notification requirements under the Malaysian Companies Act. Among these requirements is an obligation to notify the relevant Malaysian Related Company in writing when Participant receives or disposes of an interest (e.g., an Option awarded under the Plan or Shares) in the Company. Such notifications must be made within five (5) business days of receiving or disposing of any interest in the Company.

**THE NETHERLANDS**

<u>Withholding Taxes</u>. References to "withholding taxes" or similar terms in the Stock Option Agreement and the Plan shall include social insurance contributions including contributions based on the Health Insurance Act (*Zorgverzekeringwet*) and national insurance contributions (*volksverzekeringen*).

<u>Insider Trading</u>. On the basis of the Market Abuse Regulation (nr. 596/2014, the "***MAR***"), it is amongst others prohibited to engage or attempt in insider dealing, to recommend that another person engages in insider dealing or induce another person to engage in insider dealing or to unlawfully disclose inside information. The Market Abuse Regulation applies throughout the European Union as of 3 July 2016. For further information, see the website of the Authority for the Financial Markets ("***AFM***"); https://www.afm.nl/en/sector/themas/marktmisbruik/handel-met-voorwetenschap. By accepting the Option, Participant acknowledges that it is his or her responsibility to be aware of the Dutch insider trading rules, which may affect the sale of Shares Participant acquires upon exercise of the Option. In particular, Participant understands and acknowledges that (i) Participant has reviewed the summary of the Dutch insider trading rules and (ii) Participant may be prohibited from effecting certain transactions in Shares if Participant has insider information regarding the Company. Participant acknowledges and understands that Participant has been advised to read the discussion carefully to determine whether the insider rules could apply to Participant. If Participant is uncertain whether the insider rules apply to Participant or his or her situation, Participant acknowledges that the Company recommends that Participant consults with a legal advisor. Participant acknowledges and agrees that the Company cannot be held liable if Participant violates the Dutch insider trading rules. Participant acknowledges and agrees that Participant is responsible for ensuring his or her own compliance with these rules.

**POLAND**

***Notifications***

<u>Exchange Control Information</u>**.** Polish residents holding foreign securities (including Shares) and maintaining accounts abroad must report information to the National Bank of Poland on transactions and balances of the securities and cash deposited in such accounts, if the value of such securities and cash (when combined with all other assets held abroad) exceeds PLN 7,000,000. If required, the reports must be filed on a quarterly basis on special forms available

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on the website of the National Bank of Poland. Transfers of funds into and out of Poland in excess of €15,000 (or PLN 15,000 if such transfer of funds is connected with the business activity of an entrepreneur) must be made via a bank account in Poland. Participant should store all documents connected with any foreign exchange transactions that Participant is engaged in for a period of five years, as measured from the end of the year in which such transaction occurred.

**SPAIN**

<u>Nature of Grant</u>. By accepting the Option, Participant consents to participation in the Plan and acknowledge that Participant has received a copy of the Plan. Participant understands that the Company has unilaterally, gratuitously and discretionally decided to grant options under the Plan to individuals who may be employees of the Company or of a parent or affiliate throughout the world. This decision is a limited decision that is entered into upon the express assumption and condition that any grant will not bind the Company or any parent or affiliate other than as expressly set forth in the Stock Option Agreement. Consequently, Participant understands that the Option is an extraordinary remuneration and that it is granted on the assumption and condition that the Option and any Shares acquired under the Plan are not part of any employment or service contract (either with the Company or with any parent or affiliate) and shall not be considered a mandatory benefit or salary for any purpose (including severance compensation) or otherwise normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments or any other right whatsoever. Further, Participant understands and agrees that, unless otherwise expressly provided for by the Company or set forth in the Plan or the Stock Option Agreement, the Option will be cancelled without entitlement to any Shares underlying the option if Participant incurs a Termination of Service for any reason, including, but not limited to: resignation, retirement, disciplinary dismissal whether with cause or without cause (i.e. "*despido improcedente*" in case Participant is an employee of the Company), termination of employment resulting from a material modification of the terms of employment under Article 41 of the Workers' Statute, termination of employment resulting from a relocation under Article 40 of the Workers' Statute, termination of employment under the provisions set forth in Article 50 of the Workers' Statute, or under Article 10.3 of Royal Decree 1382/1985.

In addition, Participant understands that this grant would not be made to Participant but for the assumptions and conditions referred to above; thus, Participant acknowledges and freely accepts that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of, or right to, the Option shall be null and void.

<u>Exchange Control Information</u>. Participant must declare the acquisition, ownership and disposition of Shares to the *Dirección General de Comercio e Inversiones* of the Ministry of Industry and Commerce and Tourism (the "***DGCI***") within the following month to the date of acquisition of the Shares. This declaration is provided to the Ministry of Industry and Commerce and Tourism for statistical purposes only. Generally, the declaration must be made in January for Shares (and any other securities) owned as of December 31 of each year; however, if the

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value of the Shares acquired or disposed of or the amount of the sale proceeds exceeds certain thresholds, the declaration must be filed within one month of the acquisition or disposition, as applicable. *Participant should consult Participant's personal legal advisor for further information regarding Participant's reporting obligations.* In addition, Participant is required to electronically declare to the Bank of Spain any transactions performed with non-residents; and (ii) the balances of assets and liabilities, and any changes in those foreign positions including but not limited to any security accounts (including brokerage accounts held abroad), as well as the securities (including Shares acquired under the Plan) held in such accounts if the value of the transactions for all such accounts during the prior year or the balances of such accounts as of December 31 of the prior year exceeds EUR 1 million but are below EUR 100 million. Different thresholds and deadlines to file this declaration apply. However, if neither such transactions during the immediately preceding year nor the balances / positions as of December 31 exceed EUR 1 million, no such declaration must be filed unless expressly required by the Bank of Spain. If any of such thresholds were exceeded during the current year, Participant may be required to file the relevant declaration corresponding to the prior year, however, a summarized form of declaration may be available. *Participant should consult Participant's personal legal advisor for further information regarding Participant's exchange control reporting obligations.*

<u>Securities Law Information</u>. The Option does not qualify under Spanish regulations as a security. No "offer of securities to the public," as defined under Spanish law, has taken place or will take place in the Spanish territory in connection with the grant of the Option. The Agreement has not been, nor will it be, registered with the *Comisión Nacional del Mercado de Valores*, and does not constitute a public offering or prospectus.

<u>Foreign Asset/Account Reporting Information</u>. To the extent Participant holds rights or assets (*e.g.,* cash or Shares held in a bank or brokerage account) outside of Spain with a value in excess of €50,000 per type of right or asset as of December 31 each year (or at any time during the year in which you sell or dispose of such rights or assets), Participant is required to report information on such rights and assets on his or her tax return for such year. After such rights or assets are initially reported, the reporting obligation will only apply for subsequent years if the value of any previously-reported rights or assets increases by more than €20,000. *Participant should consult with Participant's personal tax advisor to ensure compliance with applicable reporting requirements.*

<u>Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Whenever the Option is exercised, the Company or its relevant subsidiary that employs or engages Participant (the "***Participant's Employer***"), if different, in accordance with the terms of the Plan, will comply with all applicable withholding tax and social security laws and regulations, and will be entitled to take any action necessary to fulfil its tax and social security obligations. Participant hereby agrees that the Company or Participant's Employer, if different, may withhold Shares otherwise issuable upon the exercise of the Option, or a portion thereof, sufficient for the Company or Participant's Employer to cover an amount required by law to be withheld or otherwise arising with respect to any

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taxable event arising as a result of any Option. The number of Shares which may be so withheld shall be limited to the number of Shares which have a Fair Market Value (as defined in the Plan, but in case the Common Stock is neither listed nor regularly quoted on a national market or other quotation system, it will be determined by the Administrator in a manner consistent with applicable tax laws), determined on the date when the amount of tax to be withheld is to be determined pursuant to the applicable law, no greater than the aggregate amount of such liabilities based on the maximum statutory withholding rates for tax purposes, in accordance with the applicable laws, that are applicable to such taxable income (or such other amount as would not result in adverse financial accounting consequences for the Company or any of its subsidiaries).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In their absolute discretion, the Company or Participant's Employer may (i) withhold amounts from Participant's wages in order to fulfil the Company or Participant's Employer withholding tax obligations, or (ii) authorize Participant to satisfy the withholding amounts referred to above by means of a cash payment. Request for such cash payment shall be made in writing by Participant in a form acceptable to the Company and shall be subject to the following restrictions: (i) the election must be made on or prior to the date when the amount of tax to be withheld is to be determined pursuant to the applicable law; and (ii) once made, the election shall be irrevocable as to the particular Shares for which the election is made. Any adverse consequences for Participant arising in connection with the withholding procedures described above shall be the sole responsibility of Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Participant agrees to indemnify and keep indemnified the Company, any parent or subsidiary including Participant's Employer from and against any liability for or obligation to pay any Tax Liability (a "***Tax Liability***" being any liability for income tax, withholding tax and any other employment related taxes in any jurisdiction) that is attributable to (1) the grant or exercise of, or any benefit derived by Participant from, the Option or the Shares which are the subject of the Option, (2) the transfer or issue of Shares to Participant on satisfaction of the Option or any other benefit on exercise of the Option, (3) any restrictions applicable to the Shares held by Participant ceasing to apply to those shares, or (4) the disposal of any Shares (each of those events referred to as a "***Taxable Event***").

<u>Spanish Language Provision</u>. By signing and returning this Agreement, Participant confirms having read and understood the documents relating to the Plan and the Agreement which were provided to Participant in English language. Participant accepts the terms of those documents accordingly.

<u>Data Protection</u>: The Company will collect and process information relating to Spain-based Participants in accordance with the privacy notice which has been or will be provided to Participant separately.

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**UNITED KINGDOM**

[*for employees only*]

<u>Definitions</u>. The phrases "termination of service" or "termination of employment" as used in the Plan and the Agreement shall mean Participant's Termination of Employment. For this purpose, "***Termination of Employment***" means the time when the employee-employer relationship between Participant and the Company or any subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding terminations where there is a simultaneous reemployment or continuing employment of Participant by the Company or any subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to a Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment.

<u>Participants</u>. The Agreement as amended by this Appendix forms the rules of the employee share scheme applicable to the United Kingdom-based Participants of the Company and any subsidiaries. Only employees of the Company or any Subsidiary are eligible to be granted Options or be issued Shares under the Agreement. All awards granted to employees of the Company or any Subsidiary who are based in the United Kingdom will be granted on similar terms. Other Service Providers (including consultants or non-employee directors) who are not employees are not eligible to receive Options under the Agreement in the United Kingdom. The Agreement incorporates the terms of the Plan with the exception that reference to "Service Provider" when used in the Plan (as incorporated into this Agreement) and in the Agreement itself shall mean employee of the Company or any Subsidiary only and shall not include other persons providing services to the Company or any Subsidiary. Accordingly, all references in the Agreement to Participant's "Service" or "Termination of Service" shall be interpreted as references to Participant's employment or Termination of Employment.

<u>Not a Contract of Employment</u>. Nothing in the Agreement or in the Plan shall confer upon Participant any right to continue to serve as an employee of the Company or any of its subsidiaries and the grant of the Option does not form part of Participant's entitlement to remuneration or benefits in terms of his employment with the Company or any subsidiary.

<u>Tax and National Insurance Contributions Acknowledgment</u>. Participant agrees that Participant is liable for the full amount of all U.S. and non-U.S. federal, state and/or local taxes (including, without limitation, income tax, withholding tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax and any employer tax liability which has been transferred to Participant, and including employee's National Insurance contributions ("***NICs***") and (at the discretion of the Company) employer's NICs (or other similar obligations wherever in the world arising)) applicable to the taxable income resulting from the grant of the Option, the exercise of the Option, or the issuance of Shares (the "***Tax-Related Items***") that is attributable to (1) the grant or settlement of, or any benefit derived by Participant from, the Option or the Shares which are the subject of the Option; (2) the transfer or issuance of Shares on the settlement of the Option; (3) any restrictions applicable to any Shares held by Participant ceasing to apply

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thereto; or (4) the disposal of any Shares (each a "***Taxable Event***") and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or a Subsidiary or His Majesty's Revenue and Customs ("***HMRC***") (or any other tax authority or relevant authority). Participant also agrees to indemnify and keep indemnified the Company, any subsidiary and his/her employing company (the "***Employer***") if different, against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on Participant's behalf that is attributable to a Taxable Event.

The Options cannot be settled until Participant has made such arrangements as the Company may require for the satisfaction of any Tax-Related Items that may arise in connection with the vesting and settlement of the Options and/or the acquisition of Shares by Participant. The Company shall not be required to issue, allot or transfer Shares until Participant has satisfied this obligation.

Participant undertakes that, upon request by the Company, he or she will (on or within 14 days of acquiring the Shares) join with his or her Employer in electing, pursuant to Section 431(1) of the Income Tax (Earnings and Pensions) Act 2003 ("***ITEPA***") that, for relevant tax purposes, the market value of the Shares acquired on exercise of the Option on any occasion will be calculated as if the Shares were not restricted and Sections 425 to 430 (inclusive) of ITEPA are not to apply to such Shares.

Participant agrees that if Participant does not pay or Participant's Employer or the Company or a subsidiary does not withhold from Participant the full amount of all Tax-Related Items that Participant owes due to any Taxable Event within 90 days after the end of the tax year in which the Taxable Event occurred or such other period in Section 222(1)(c) of ITEPA, then the amount that should have been withheld shall constitute a loan owed by Participant to the Employer, effective 90 days after the end of the tax year in which the Taxable Event occurred. Participant agrees that the loan will bear interest at the HMRC's official rate and will be immediately due and repayable by Participant, and the Company and/or the Employer may recover it at any time thereafter by withholding the funds from salary, bonus or any other funds due to Participant by the Employer, by withholding in Shares issued upon vesting and exercise of the Option or from the cash proceeds from the sale of Shares or by demanding cash or a cheque from Participant. Participant also authorizes the Company to delay the issuance of any Shares to Participant unless and until the loan is repaid in full.

Notwithstanding the foregoing, if Participant is an officer or executive director (as within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply in case the indemnification is viewed as a loan. In the event that Participant is an officer or executive director and Tax-Related Items are not collected from or paid by Participant within 90 days of the end of the tax year in which the Taxable Event occurred, the amount of any uncollected Tax-Related Items may constitute a benefit to Participant on which additional income tax and NICs may be payable. Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company

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and/or a subsidiary (as appropriate) for the value of NICs due on this additional benefit which the Company and/or a Subsidiary may collect by any of the means referred to in Section 10.5 of the Plan.

[*for contractors only*]

<u>Tax and National Insurance Contributions Acknowledgment</u>. Participant agrees that Participant is liable for the full amount of all U.S. and non-U.S. federal, state and/or local taxes (including, without limitation, income tax, withholding tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax and any employer tax liability which has been transferred to Participant, and including employee's National Insurance contributions ("***NICs***") and (at the discretion of the Company) employer's NICs (or other similar obligations wherever in the world arising)) applicable to the taxable income resulting from the grant of the Option, the exercise of the Option, or the issuance of Shares (the "***Tax-Related Items***") that is attributable to (1) the grant or settlement of, or any benefit derived by Participant from, the Option or the Shares which are the subject of the Option; (2) the transfer or issuance of Shares on the exercise of the Option; (3) any restrictions applicable to any Shares held by Participant ceasing to apply thereto; or (4) the disposal of any Shares (each a "***Taxable Event***") and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or a Subsidiary or His Majesty's Revenue and Customs ("***HMRC***") (or any other tax authority or relevant authority). Participant also agrees to indemnify and keep indemnified the Company and/or the Employer of Record, against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on Participant's behalf that is attributable to a Taxable Event.

The Options cannot be settled until Participant has made such arrangements as the Company and/or Employer of Record may require for the satisfaction of any Tax-Related Items that may arise in connection with the vesting and exercise of the Options and/or the acquisition of Shares by Participant. The Company shall not be required to issue, allot or transfer Shares until Participant has satisfied this obligation.

<u>Section 431 Election.</u> Participant agrees, upon request by the Company and/or the Employer of Record (as applicable), and no later than 14 days after the issuance of the Option, to join with the Company and/or the Employer of Record in electing, pursuant to Section 431(1) of the Income Tax (Earnings and Pensions) Act 2003 ("***ITEPA***") that, for relevant tax purposes, the market value of the Option acquired pursuant to this Agreement will be calculated as if the Option was not restricted and Sections 425 to 430 (inclusive) of ITEPA are not to apply to such Option.

<u>Loan</u>. Participant agrees that if Participant does not pay or the Employer of Record or the Company (as applicable) does not withhold from Participant the full amount of any Tax-Related Items within 90 days after the end of the tax year in which the Taxable Event occurred, or such other period specified in Section 222(1)(c) of ITEPA, then the amount that should have been withheld shall constitute a loan owed by Participant to the Employer of Record or the Company (as applicable), effective 90 days after the end of the tax year in which the Taxable Event occurred. Participant agrees that the loan will bear interest at HMRC's official rate and will be

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immediately due and repayable by Participant, and the Company and/or the Employer of Record (as applicable) may recover it at any time thereafter by: (i) withholding the funds from salary, bonus or any other funds due to Participant by the Company and/or the Employer of Record (as applicable); (ii) withholding from the Option or from the cash distributions payable in respect of the Option; or (iii) demanding cash or a cheque from Participant. Participant also authorizes the Company and/or the Employer of Record (as applicable) to delay the issuance of any payment or distribution made in connection with this Agreement unless and until the loan has been repaid in full. Notwithstanding the foregoing, if Participant is an officer or executive director (as within the meaning of Section 13(k) of the Securities and Exchange Act of 1934, as amended), the terms of the immediately foregoing provisions will not apply. In the event that Participant is an officer or executive director and the tax liability is not collected from or paid by Participant within 90 days of the end of the tax year in with the Taxable Event occurred, the amount of any uncollected tax liability may constitute a benefit to Participant on which additional income tax and National Insurance contributions may be payable. Participant acknowledges that the Company and/or the Employer of Record (as applicable) may recover any such additional income tax and National Insurance contributions at any time thereafter by any of the means referred to in this Agreement.

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**<u>Exhibit 1 (for German Participants)</u>**

**PRIVACY NOTICE** 

The entity responsible for processing your personal data (*i.e.*, the "**Controller**") for the purpose of allocating and sharing Awards as described in the This Agreement, dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] 2026 (the "**Grant Letter**") and the Plan is Neutron Holdings, Inc., having its registered office at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], United States of America (the "**Company**"). The present privacy notice (the "**Notice**") provides for information in relation to the processing of your personal data in this context.

**1. WHAT PERSONAL DATA DOES THE COMPANY PROCESS ABOUT YOU?**

a.Some of the personal data is collected directly from you. Other personal data is provided to the Company by other group companies.

b.The personal data the Company collects about you may include (i) identification data such as your name, address and telephone number, birthdate, social security/insurance number or other identification number, salary, nationality, (ii) job title, department, as well as related information, *e.g.*, employee ID number, (iii) your bank account details, and (iv) details regarding your Awards and other information relating to the Plan and this Agreement.

c.The Company requires your personal data for business and accounting purposes. Refusal to provide personal data requested could lead to the impossibility for the Company to proceed with any matters relating to the Plan and the This Agreement, including the allocation, award and any payments relating to your awards.

**2. HOW DOES THE COMPANY PROCESS YOUR PERSONAL DATA?**

a.The Company processes your personal data only for legitimate purposes, including (i) to implement, administer and manage the Plan and the This Agreement and in order to proceed with the allocation, award and any payments relating to your awards, and (ii) to comply with accounting requirements.

b.The Company does not keep your personal data for longer than is necessary to fulfil the purposes above – unless statutory retention obligations and/or legitimate interests may require a longer storage. This may include the defense and assertion of legal claims.

c.No automated decision making or profiling is conducted in the context of the Plan and the This Agreement.

**3. DOES THE COMPANY DISCLOSE YOUR PERSONAL DATA TO OTHER PARTIES?**

a.The Company may disclose your personal data, where reasonably necessary and in accordance with applicable law for the purposes set out in clause 2 above, including to (i) other entities within the group, (ii) accountants, auditors, legal advisors, (iii) services providers such as payroll administrators and benefits advisors, and (iv) third parties to whom the Company is required to disclose information by law or regulatory requirement (including authorities and litigation counterparties).

b.If your personal data should be transferred to countries outside the European Union / the European Economic Area, the Company will apply appropriate safeguards to secure such transfers.

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**4. WHAT RIGHTS DO YOU HAVE?**

a.You have certain rights in relation to your personal data. Please note that these may vary depending on the right and circumstances of its assertion.

XI.6the right to access your personal data and ask for a copy of your processed personal data;

XI.7the right to have incomplete or inaccurate personal data corrected;

XI.8the right to object to the use of your personal data, or to withdraw your consent (where processing is based on your prior consent);

XI.9the right to restrict the use of your personal data;

XI.10the right to require the Company to erase/delete your personal data;

XI.11the right to receive personal data which you have provided to the Company in a structured, commonly used and machine-readable format and the right to transmit those data to another data controller;

XI.12the right to lodge a complaint with the competent data protection authority.

b.If you wish to exercise any of these rights or have other questions about how the Company processes your personal data, you can email [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].

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**NEUTRON HOLDINGS, INC.**

**2026 INCENTIVE AWARD PLAN**

**RESTRICTED STOCK UNIT AWARD GRANT NOTICE**

Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), pursuant to its 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"), hereby grants to the holder listed below ("***Participant***"), an award of restricted stock units ("***Restricted Stock Units***" or "***RSUs***"). Each vested Restricted Stock Unit represents the right to receive, in accordance with the Restricted Stock Unit Award Agreement attached hereto as **Exhibit A** (the "***Agreement***"), including any special provisions for Participant's country of residence, if any, set forth in the Appendix for Participant's Country (the "***Country Provisions***"), one share of Common Stock ("***Share***"). This award of Restricted Stock Units is subject to all of the terms and conditions set forth herein and in the Agreement, the Country Provisions (if applicable) and the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Restricted Stock Unit Award Grant Notice, the Country Provisions and the Agreement.

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| | |
|:---|:---|
| **Participant:** | [__________________________] |
| **Grant Date:** | [__________________________] |
| **Total Number of RSUs:** | [_____________]  |
| **Vesting Commencement Date:** | [_____________] |
| **Vesting Schedule:** | [_____________] |
| **Termination:** | If Participant experiences a Termination of Service, all RSUs that have not become vested on or prior to the date of such Termination of Service will thereupon be automatically forfeited by Participant without payment of any consideration therefor. |

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Participant understands that the terms of this award of RSUs explicitly include the following (a "***Sell to Cover***"):

Upon vesting of the RSUs and issuance of the resulting Shares, the Company, on Participant's behalf, will instruct the Company's transfer agent (together with any other party the Company determines necessary to execute the Sell to Cover, the "***Agent***") to sell that number of Shares determined in accordance with Section 2.6 of the Agreement as may be necessary to satisfy any resulting withholding tax obligations on the Company, and the Agent will remit the cash proceeds of such sale to the Company. The Company shall then make a cash payment equal to the required tax withholding from the cash proceeds of such sale directly to the appropriate taxing authorities.

If the Company uses an electronic capitalization table system (such as Shareworks, Certent, Fidelity or Equity Edge) and the fields in this Grant Notice are blank or the information is otherwise provided in a different format electronically, the blank fields and other information

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will be deemed to come from the electronic equity administration system and is considered part of this Grant Notice. In addition, the Company's signature below shall be deemed to have occurred by the Company's input of the RSUs in such electronic equity administration system and the Participant's signature below shall be deemed to have occurred by the Participant's online acceptance of the RSUs through such electronic equity administration system.

By his or her signature and the Company's signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice. Participant has reviewed the Plan, the Agreement and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, the Agreement and this Grant Notice. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, the Agreement or this Grant Notice.

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| | |
|:---|:---|
| **NEUTRON&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HOLDINGS,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INC.:** | **PARTICIPANT:** |
| **PARTICIPANT:** | |
| By: | By: |
| Print <br>Name: | Print Name: |
| Print <br>Name: | Print Name: |
| Title: |  |
| Address: | Address: |

---

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**EXHIBIT A**

**TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

Pursuant to the Restricted Stock Unit Award Grant Notice (the "***Grant Notice***") to which this Restricted Stock Unit Award Agreement (this "***Agreement***") is attached, Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), has granted to Participant the number of restricted stock units ("***Restricted Stock Units***" or "***RSUs***") set forth in the Grant Notice under the Company's 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"). Each Restricted Stock Unit represents the right to receive one share of Common Stock (a "***Share***") upon vesting.

**ARTICLE XVII.**

**GENERAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Terms of Plan</u>. The RSUs are subject to the terms and conditions of the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. If the Country Provisions apply to Participant, in the event of a conflict between the terms of this Agreement, the Grant Notice or the Plan and the Country Provisions, the terms of the Country Provisions shall control.

**ARTICLE XVIII.**

**GRANT OF RESTRICTED STOCK UNITS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant of RSUs</u>. Pursuant to the Grant Notice and upon the terms and conditions set forth in the Plan, this Agreement and the Country Provisions (if applicable), effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to Participant an award of RSUs under the Plan in consideration of Participant's past and/or continued employment with or service to the Company or any Subsidiary and for other good and valuable consideration, subject to adjustments as provided in Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Unsecured Obligation</u>. Unless and until the RSUs have vested in the manner set forth in Article II hereof, Participant will have no right to receive Common Stock or other property under any such RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting Schedule</u>. Subject to Section 2.5 hereof, the RSUs shall vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth in the Grant Notice (rounding down to the nearest whole Share). Notwithstanding the

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foregoing and the Grant Notice, but subject to Section 2.5 hereof, in the event of a Change in Control, the RSUs shall be treated pursuant to Section 9.2 and 9.3 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Consideration to the Company</u>. In consideration of the grant of the award of RSUs pursuant hereto, Participant agrees to render faithful and efficient services to the Company and its Subsidiaries, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Forfeiture, Termination and Cancellation upon Termination of Service</u>. Notwithstanding any contrary provision of this Agreement or the Plan, upon Participant's Termination of Service for any or no reason, all Restricted Stock Units which have not vested prior to or in connection with such Termination of Service shall thereupon automatically be forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant's beneficiary or personal representative, as the case may be, shall have no further rights hereunder. No portion of the RSUs which has not become vested as of the date on which Participant incurs a Termination of Service shall thereafter become vested, except as may otherwise be provided by the Administrator or as set forth in a written agreement between the Company (or any Subsidiary that is the employer of Participant) and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Common Stock upon Vesting</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;As soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Section 2.3 hereof, but in no event later than March 15 of the calendar year immediately following the year in which such vesting date occurs (for the avoidance of doubt, this deadline is intended to comply with the "short term deferral" exemption from Section 409A of the Code), the Company shall deliver to Participant (or any transferee permitted under Section 3.2 hereof) a number of Shares equal to the number of RSUs subject to this Award that vest on the applicable vesting date. Notwithstanding the foregoing, in the event Shares are not issued pursuant to Section 10.7 of the Plan, the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares can again be issued in accordance with such Section.

&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)&nbsp;&nbsp;&nbsp;&nbsp;As set forth in Section 10.5 of the Plan, the Company shall have the authority and the right to deduct or withhold, or to require Participant to remit to the Company, an amount sufficient to satisfy all applicable Tax-Related Items required by law to be withheld with respect to any taxable event arising in connection with the RSUs. Such Tax-Related Items shall be satisfied by using a Sell to Cover pursuant to the Grant Notice. The Company shall not be obligated to deliver any Shares to Participant or Participant's legal representative unless and until Participant or Participant's legal representative shall have paid or otherwise satisfied in full the amount of all Tax-Related Items applicable to the taxable income of Participant resulting from the grant or vesting of the Restricted Stock Units or the issuance of Shares. By accepting this award of RSUs, Participant has agreed to a Sell to Cover to

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satisfy any Tax-Related Items calculated at up to the maximum statutory tax rate, as determined by the Company, and Participant hereby acknowledges and agrees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby appoints the Agent as Participant's agent and authorizes the Agent to (1) sell on the open market at the then prevailing market price(s), on Participant's behalf, as soon as practicable on or after the date the Shares are issued upon vesting of the Restricted Stock Units, that number (rounded up to the next whole number) of the Shares so issued necessary to generate proceeds to cover (x) any Tax-Related Items incurred with respect to such vesting or issuance based on up to the maximum statutory tax rates, as determined by the Company, and (y) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto and (2) in the Company's discretion, apply any remaining funds to Participant's federal tax withholding or remit such remaining funds to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby authorizes the Company and the Agent to cooperate and communicate with one another to determine the number of Shares that must be sold pursuant to subsection (i) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant understands that the Agent may effect sales as provided in subsection (i) above in one or more sales and that the average price for executions resulting from bunched orders will be assigned to Participant's account. In addition, Participant acknowledges that it may not be possible to sell Shares as provided in subsection (i) above due to (1) a legal or contractual restriction applicable to the Participant or the Agent, (2) a market disruption or (3) rules governing order execution priority on the national exchange where the Shares may be traded. In the event of the Agent's inability to sell Shares, Participant will continue to be responsible for the timely payment to the Company and/or its affiliates of all Tax-Related Items that are required by applicable laws and regulations to be withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Participant acknowledges that regardless of any other term or condition of this Section 2.6(b), the Agent will not be liable to Participant for (1) special, indirect, punitive, exemplary or consequential damages, or incidental losses or damages of any kind or (2) any failure to perform or for any delay in performance that results from a cause or circumstance that is beyond its reasonable control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby agrees to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this Section 2.6(b). The Agent is a third-party beneficiary of this Section 2.6(b).

This Section 2.6(b) shall terminate not later than the date on which all tax withholding and obligations arising in connection with the vesting and issuance of the RSUs have been satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Delivery of Shares</u>. The Shares deliverable hereunder may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The

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Company shall not be required to issue Shares deliverable hereunder prior to fulfillment of the conditions set forth in Section 10.7 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as Stockholder</u>. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Article IX of the Plan.

**ARTICLE XIX.**

**OTHER PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u>. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability</u>. The RSUs shall be subject to the restrictions on transferability set forth in Section 10.1 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Consultation</u>. Participant understands that Participant may suffer adverse tax consequences in connection with the RSUs granted pursuant to this Agreement (and the Shares issuable with respect thereto). Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the RSUs and the issuance of Shares with respect thereto and that Participant is not relying on the Company for any tax advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Agreement</u>. Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments Upon Specified Events</u>. The Administrator may accelerate the vesting of the RSUs in such circumstances as it, in its sole discretion, may determine. Participant acknowledges that the RSUs are subject to adjustment, modification and termination in certain events as provided in this Agreement and Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company's principal office, and any notice to be given to Participant shall be addressed to

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Participant at Participant's last address reflected on the Company's records. By a notice given pursuant to this Section 3.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service (or similar non-U.S. entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant's Representations</u>. If the Shares issuable hereunder have not been registered under the Securities Act or any applicable state laws on an effective registration statement at the time of such issuance, Participant shall, if required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate by the Company or its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles</u>. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. By entering into this Agreement, Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case located in the State of Delaware, for any action arising out of or relating to this Agreement and the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By entering into this Agreement, Participant irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of the Plan or this Agreement in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By entering into this Agreement, Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Conformity to Securities Laws</u>. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any other Applicable Law. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to Applicable Law. To the extent permitted by Applicable Law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or

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terminated at any time or from time to time by the Administrator or the Board; *provided, however,* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the RSUs in any material way without the prior written consent of Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The Company may assign any of its rights and delegate any of its obligations under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations Applicable to Section 16 Persons</u>. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Not a Contract of Service Relationship</u>. Nothing in this Agreement or in the Plan shall confer upon Participant any right to commence or continue to serve as an Employee or other Service Provider or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the employment or services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise by Applicable Law or in a written agreement between the Company or a Subsidiary (as applicable) and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. The Plan, the Grant Notice and this Agreement (including the Country Provisions) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, *provided* that the RSUs shall be subject to any accelerated vesting provisions in any written agreement between Participant and the Company (or any Subsidiary who is the employer of Participant) or a Company plan pursuant to which Participant is eligible to participate, in each case, in accordance with the terms therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A</u>. This Award is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, "***Section 409A***"). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that this Award (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or

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appropriate for this Award either to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Participant's Rights</u>. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to RSUs, as and when payable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Rules Particular To Specific Countries</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Generally*. Participant shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form approved by the Company) under which any liability to the Company's (or a Subsidiary's) Tax-Related Items, including, but not limited to, National Insurance Contributions ("***NICs***") and the Fringe Benefit Tax, is transferred to and met by Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Tax Indemnity*. Participant shall indemnify and keep indemnified the Company and any of its subsidiaries from and against any Tax-Related Items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Country Provisions for RSUs Granted to Participants</u>. The RSUs shall be subject to the Country Provisions, if any, for Participant's country of residence, as set forth in the Country Provisions. If Participant relocates to one of the countries included in the Country Provisions during the life of the RSUs, the special provisions for such country shall apply to Participant, to the extent the Company determines that the application of such provisions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. The Company reserves the right to impose other requirements on the RSUs and the Shares issuable upon settlement of the RSUs, to the extent the Company determines it is necessary or advisable in order to comply with local laws or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

\*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*

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**APPENDIX** 

**TO**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

**Special Country Provisions for RSUs for Participants**

This Appendix includes special terms and conditions applicable to Participants in the countries below. These terms and conditions are in addition to those set forth in the Restricted Stock Unit Agreement (the "***Agreement***"), Restricted Stock Unit Grant Notice to which the Agreement is attached and the Plan, and to the extent there are any inconsistencies between these terms and conditions and those set forth in the Agreement, these terms and conditions shall prevail. Any capitalized term used in this Appendix without definition shall have the meaning ascribed to such term in the Plan or the Agreement, as applicable.

In accepting the RSUs, Participant acknowledges, understands and agrees that:

(a)the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

(b)the grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of restricted stock units, or benefits in lieu of restricted stock units, even if restricted stock units have been granted in the past;

(c)all decisions with respect to future restricted stock units or other grants, if any, will be at the sole discretion of the Company;

(d)the grant of RSUs and Participant's participation in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company, or, if different, Participant's employer, or any Subsidiary or parent or affiliate of the Company, and shall not interfere with the ability of the Company, the employer or any Subsidiary or parent or affiliate of the Company, as applicable, to provide for a termination of Participant's service;

(e)Participant is voluntarily participating in the Plan;

(f)the RSUs and any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

(g)for labor law purposes, the RSUs and any Shares acquired under the Plan and the income and value of same are not part of normal or expected, wages, salary or other compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits or similar

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payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, any Subsidiary, Participant's employer, its parent, or any affiliate of the Company;

(h)the future value of the Shares underlying the RSUs is unknown, indeterminable, and cannot be predicted with certainty;

(i)the value of the Shares acquired upon vesting of the RSUs may increase or decrease in value;

(j)the RSUs and the Common Stock subject to the RSUs are not intended to replace any pension rights or compensation;

(k)neither the Company, the employer nor any parent, Subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to Participant pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired pursuant to the RSUs; and

(l)nothing in the Plan or this Agreement shall give the Participant any rights to compensation or damages including, without limitation, for any loss or potential loss that the Participant may suffer by reason of the cancellation and forfeiture of the RSUs as a result of the Participant's Termination of Service including where any termination is subsequently held to be wrongful or unfair.

**<u>Securities Law Notice</u>:** Unless otherwise noted, neither the Company nor the Shares are registered with any local stock exchange or under the control of any local securities regulator outside the United States. The Agreement (of which this Appendix is a part), the Plan, and any other communications or materials that Participant may receive regarding participation in the Plan do not constitute advertising or an offering of securities outside the United States, and the issuance of securities described in any Plan-related documents is not intended for public offering or circulation in Participant's jurisdiction.

**<u>General Provisions</u>**

**<u>Data Privacy</u>. Participant acknowledges and agrees to the data privacy provisions set forth in Section 11.8 of the Plan.**

**<u>Notifications</u>**<u>.</u> This Appendix also includes information relating to exchange control and other issues of which Participant should be aware with respect to his or her participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the respective countries as of [____] 2026. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information herein as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the RSUs vest or Shares acquired under the Plan are sold. In addition, the information is general in nature and may not apply to the

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particular situation of Participant, and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to his or her situation. Finally, Participant understands that if Participant is a citizen or resident of a country other than the one in which he or she is currently residing or working, the information contained herein may not be applicable to Participant.

**<u>English Language</u>**. By participating in the Plan, Participant acknowledges that Participant is proficient in the English language, or has consulted with an advisor who is sufficiently proficient in English, so as to allow him or her to understand the terms and conditions of the Plan and the Agreement applicable to Participant's country of residence. If Participant has received the Agreement and the Plan applicably to his or her country of residence or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

**<u>Currency</u>**. Participant understands that, any amounts related to the RSUs will be denominated in U.S. dollars and will be converted to any local currency using a prevailing exchange rate in effect at the time such conversion is performed, as determined by the Company. Participant understands and agrees that neither the Company nor any affiliate shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the U.S. dollar that may affect the value of the RSUs, or of any amounts due to Participant or as a result of the subsequent sale of any Shares acquired under the RSUs.

**<u>Foreign Asset/Account Reporting; Exchange Controls</u>.** Participant's country of residence may have certain foreign asset and/or account reporting or exchange control requirements which may affect his or her ability to acquire or hold Shares under the Agreement or cash received (including proceeds arising from the sale of Shares) in a brokerage or bank account outside Participant's country. Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country. Participant may also be required to repatriate sale proceeds or other funds received as a result of his/her participation in the Plan to his or her country through a designated broker or bank and/or within a certain time after receipt. Participant is responsible for ensuring compliance with such regulations and should consult with his or her personal legal advisor for any details.

**<u>No Advice Regarding Grant</u>**. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan or the Agreement or any receipt of the RSUs or sale of Shares acquired upon settlement of the RSUs. Participant should consult his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan and the Agreement before taking any action related to the RSUs or the Shares.

**<u>Imposition of Other Requirements</u>**. The Company reserves the right to impose other requirements on Participant, on the RSUs and/or any Shares issuable upon settlement of the RSUs, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

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**<u>CANADA</u>**

<u>Award</u>. The following provision replaces Section 2.1 of the Agreement:

<u>2.1&nbsp;&nbsp;&nbsp;&nbsp;Award of RSUs</u>. The Company has granted the RSUs to Participant effective as of the grant date set forth in the Grant Notice (the "***Grant Date***"). Each RSU represents the right to receive one Share or, at the option of the Company, an amount of cash, in either case, as set forth in this Agreement. Participant will have no right to the distribution of any Shares or payment of any cash until the time (if ever) the RSUs have vested. For certainty, RSUs are granted in respect of the Participant's service with the Company in the year that coincides with the Grant Date, and not in respect of any previous year.

<u>Settlement</u>. The following provision supplements Section 2.6 of the Agreement:

(a)&nbsp;&nbsp;&nbsp;&nbsp;RSUs will be paid in Shares or cash at the Company's option, and any dividend equivalents in respect of such RSUs will be paid in Shares, in each case as soon as administratively practicable after the vesting of the applicable RSUs, but in no event any later than the earlier of the following dates: (i) sixty (60) days after the date on which such RSUs vest, and (ii) December 31st of the third year following the Grant Date.

<u>Nature of Grant</u>. The following provisions replace Section 1(h) and 1(k) of Appendix A:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;except as explicitly and minimally required under applicable legislation, the RSUs, the Dividend Equivalents and the Shares subject to the RSUs, and the income from and value of same, are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;except as explicitly and minimally required under applicable legislation, no claim or entitlement to compensation or damages shall arise from (i) forfeiture of the RSUs or Dividend Equivalents resulting from Participant ceasing to provide employment or other services to the Company or any Subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment or service agreement, if any) and/or (ii) the forfeiture or cancellation of the RSUs or Dividend Equivalents and/or recoupment of any Shares, cash, or other benefits acquired under the Plan resulting from the application of any recoupment or compensation recovery policy the Company may adopt and/or amend from time to time, or any other policy of the Company or any Subsidiary that provides for forfeiture, disgorgement or clawback with respect to incentive compensation, or as required by applicable laws, rules, regulations or stock exchange listing standards;

The following provision replaces Section 2.5 of the Agreement:

In the event of Participant's Termination of Service (for any reason whatsoever, whether or not later found to be invalid or in breach of any Applicable Laws in the jurisdiction where

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Participant is employed or the terms of Participant's employment or service agreement, if any), Participant's right to participate in the Plan, if any, will terminate effective as of the date that Participant is no longer actively employed by, or actively providing services to, the Company or a Subsidiary (the "***Termination Date***"). Unless explicitly required by applicable legislation, the Termination Date shall exclude and shall not be extended by any period during which notice, pay in lieu of notice or related payments or damages are provided or required to be provided under statute, contract, common/civil law or otherwise. Subject to Applicable Laws, the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of Participant's participation in the Plan. Participant will not earn or be entitled to any grants or pro-rated vesting (including whether Participant may still be considered to be providing services while on a leave of absence) for that period of time after the Termination Date, nor will Participant be entitled to any compensation or damages in lieu of lost vesting or grants, and Participant waives their rights to any such compensation, damages or entitlements.

Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued entitlement to vesting during a statutory notice period, Participant acknowledges that Participant's right to vest in the RSUs, if any, will terminate effective as of the last day of Participant's minimum statutory notice period but Participant will not earn or be entitled to pro-rated vesting if the vesting date falls after the end of the statutory notice period, nor will Participant be entitled to any compensation for lost vesting if the vesting date falls after the end of the statutory notice period. For the sake of clarity, any reference to the date of Participant's Termination of Service (or any similar concept) under the Agreement or the Plan will be interpreted to mean the Termination Date.

***Notifications***

<u>Securities Law Information</u>. Participant is permitted to sell Shares acquired through the Plan through the Broker appointed under the Plan, if any (or any other broker acceptable to the Company), provided the resale of Shares acquired under the Plan takes place outside of Canada through the facilities of a stock exchange on which the Shares are listed. The Shares are currently listed on the

<u>Foreign Asset/Account Reporting Information</u>. Participant is required to report any foreign specified property, including Shares and rights to receive Shares (*e.g.*, RSUs), annually on a Form T1135 (Foreign Income Verification Statement) if the total cost of the foreign specified property exceeds CAD 100,000 at any time during the year. Thus, RSUs must be reported - generally at a nil cost - if the CAD 100,000 cost threshold is exceeded because of other foreign property. When Shares are acquired, their cost generally is the adjusted cost base ("***ACB***") of the Shares. The ACB would ordinarily equal the fair market value of the Shares at the time of acquisition, but if other Shares are also owned, this ACB may have to be averaged with the ACB of the other Shares. The Form T1135 generally must be filed by April 30 of the following year. Participant understands and agrees that Participant should consult with a personal legal advisor to ensure compliance with applicable reporting obligations.

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**<u>FRANCE</u>**

***Terms and Conditions***

<u>Language Consent.</u> In accepting the RSUs, Participant confirms having read and understood the documents relating to the RSUs (the Plan and this Agreement), which were provided in English. Participant accepts the terms of these documents accordingly.

<u>Consentement relatif à la langue utilisée</u>*. En acceptant le Unités Stock Restreintes, le Participant confirme avoir lu et compris les documents relatifs aux le Unités Stock Restreintes (le Plan et la présente Convention), qui ont été fournis en anglais. Le Participant accepte les termes de ces documents en conséquence*.

***Notifications***

<u>Non-Qualified Nature of Award</u>. The Award granted pursuant to the Agreement is not intended to be "French-qualified" and is ineligible for specific tax and/or social security treatment in France under Sections L. 225-197-1 to L. 225-197-5 and Sections L. 22-10-59 to L. 22-10-60 of the French Commercial Code, as amended.

<u>Exchange Control Information</u>. The value of any cash or securities imported to or exported from France without the use of a financial institution must be reported to the customs and excise authorities when the value of such cash or securities is equal to or greater than a certain amount (currently €10,000). Participant should consult with Participant's personal advisor(s) regarding any personal legal, regulatory or foreign exchange obligations Participant may have in connection with Participant's participation in the Plan.

<u>Foreign Asset/Account Reporting Information</u>. French residents must report annually any shares and bank accounts held outside France, including the accounts that were opened, used and/or closed during the tax year, to the French tax authorities, on an annual basis on a special Form N° 3916, together with Participant's personal income tax return. Failure to report triggers a significant penalty. Participant should consult with Participant's personal advisor(s) regarding any personal foreign asset/foreign account tax obligations Participant may have in connection with Participant's participation in the Plan.

**<u>GERMANY</u>**

***Terms and Conditions***

<u>Tax Obligations</u>. The following provision supplements Section 3.3 of the Agreement:

Each Participant who is either (a) resident for tax purposes in Germany or (b) otherwise subject to German income tax and/or social security contributions (the "***German Participant***") in respect of earnings received from the Company or any of its affiliates being the Participant's employing entity (the "***Employer***"), if different shall notify the Employer of their participation in the Plan and any grant, exercise, vesting, issuance or payment under the Plan.

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The German Participant shall indemnify and hold harmless the Employer from and against any liability for or obligation to pay any Tax Liability arising in connection with the German Participant's participation in the Plan.

The Employer shall have the authority and the right to deduct or withhold or require the German Participant to remit to the Employer, an amount sufficient to satisfy any Tax Liability required to be withheld and/or paid including, without limitation, the authority to deduct such amount from other compensation payable to the German Participant by the Employer.

„***Tax Liability***" shall be any liability for income tax, wage tax, solidarity surcharge, employee share of social security contributions, church tax, VAT and any other service or employment related taxes (as applicable), and in this regard also the German Participant's portions arising as a result of the Plan. Whenever Awards are granted or paid, the Company or the Employer shall notify the German Participant of the amount of Tax Liability, if any, which must be withheld by the Employer under applicable tax laws. For the purposes of withholding, fair market value shall be determined under applicable German law and its interpretation by the German tax authorities.

The German Participant understands that they may suffer adverse tax consequences as a result of the Awards which may exceed the amount, if any, actually withheld by the Company or the Employer. Neither the Company nor the Employer or any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the granting, vesting, exercise, issuance or payment of Awards. The Company, the Employer and the Subsidiaries do not commit and are under no obligation to structure any Awards to reduce or eliminate the German Participant's Tax Liability. The German Participant represents that the German Participant has had the opportunity to consult with any tax consultants the German Participant deems advisable in connection with the Awards and that the German Participant is not relying on the Company or the Employer for any tax advice. The German Participant is relying solely on such advisors and not on any statements or representations of the Company, the German Participant's Employer or any of their agents.

<u>Labor Law Acknowledgment</u>. The German Participant acknowledges that (i) any Awards granted pursuant to the Plan are discretionary, (ii) the Plan and any supplementary agreements are not a part of the terms and conditions of the German Participant's employment with the Employer and (iii) the income from the Awards, if any, is not part of the German Participant's entitlement to remuneration from the Employer and is not to be considered in valuing employment benefits or severance payable in the event of the termination of the German Participant's employment with the Employer.

***Notifications***

<u>Exchange Control Information</u>. Cross-border payments in connection with the sale of securities in excess of EUR 12,500 must be reported monthly by accessing the electronic General Statistics Reporting Portal (*Allgemeines Meldeportal Statistik*) via the Bundesbank's website (<u>www.bundesbank.de</u>). In addition, Participant may be required to report the acquisition of

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securities if the value of the securities acquired exceeds EUR 12,500 to the Bundesbank via email or telephone.

<u>Foreign Asset/Account Reporting Information</u>. German residents must notify their local tax office of the acquisition of Shares when they file their personal income tax returns for the relevant year if the value of the Shares acquired exceeds EUR 150,000 or in the unlikely event that the resident holds Shares exceeding 10% of the Company's total Shares outstanding. However, if the Shares are listed on a recognized U.S. stock exchange and Participant owns less than 1% of the total Stock, this requirement will not apply even if Shares with a value exceeding EUR 150,000 are acquired. Participant should consult with Participant's personal advisor(s) regarding any personal foreign asset/foreign account tax obligations Participant may have in connection with Participant's participation in the Plan.

<u>Insider Trading</u>. By accepting the Awards, the German Participant acknowledges that they may be subject to insider trading rules, which may affect the sale of shares acquired upon under the Plan. German securities laws prohibit insider trading according to Article 14 of the Market Abuse Regulation (VO (EU) 596/2014) if the shares are traded, admitted or for which admission on trading has been requested on a trading venue in the European Union.

<u>Data Protection</u>. This provision replaces the section of the Appendix incorporating Section 11.8 of the Plan ("***Data Privacy***"), which shall be disregarded in its entirety. [The Company acts as controller in relation to the personal data which may be shared by the German Participant under the Plan, the Agreement and this Appendix. Such personal data will be processed in compliance with applicable data protection laws, in particular the EU General Data Protection Regulation (EU) 2016/679 ("***GDPR***"). The Company independently determines the purposes and means for which personal data is processed under the Plan. To perform the Plan and to comply with the provisions therein and statutory retention obligations, the Company must collect, store, and otherwise process certain personal data of the German Participant (e.g. including, name contact details, and bank account details). Further information about the processing of personal data is set out in the privacy notice attached hereto as <u>Exhibit 1</u>.

For any eligible Participants located in Germany who sign a declaration of consent as provided by the Company, the Company or any subsidiary collects and processes personal data related to the Plan based on Participant's consent.

**<u>MALAYSIA</u>**

***Terms and Conditions***

<u>Data Privacy</u>. This provision replaces in its entirety Section 11.8 of the Plan and is directed at Plan Participants:

*You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other Award grant materials by and among, as applicable, the Employer, the Company and any other Subsidiaries for the exclusive purpose of implementing, administering and managing your participation in the Plan.* 

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*You understand that the Company and the Employer may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, email address, date of birth, social insurance, passport or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all Awards or any other entitlement to shares of Common Stock or equivalent benefits awarded, canceled, purchased, exercised, vested, unvested or outstanding in your favor ("****Data****"), for the exclusive purpose of implementing, administering and managing the Plan. Data is supplied by the Company and also by you through information collected in connection with the Agreement and the Plan.*

*You understand that Data will be transferred to [E\*TRADE from Morgan Stanley] or such other third-party service providers as may be selected by the Company in the future, which assist the Company with the implementation, administration and management of the Plan. Such third-party service providers may include the Company's outside legal counsel as well as the Company's auditor. You understand that the recipients of Data may be located in the United States or elsewhere, and that the recipients' country may have different data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients of Data by contacting your local human resources representative, [Insert Contact Information]. You authorize the Company, [E\*TRADE from Morgan Stanley] and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom any shares of Common Stock acquired under the Plan may be deposited. Further, you understand that Data may be transferred to governmental authorities if the Company or your Employer determine that such transfer is necessary or advisable for purposes of complying with Applicable Laws.*

*You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request information about the storage and processing of Data, require any necessary amendments to Data, limit the processing of Data or refuse or withdraw the consents herein, in any case without cost, by contacting your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment or service with the Employer will not be affected; the only consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Restricted Stock Units or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative.*

P*rivasi Data.* Peruntukan ini menggantikan Seksyen 11.8 Terma-terma dan Syarat-syarat untuk peserta-peserta bukan-U.S. secara keseluruhannya:

*Anda dengan ini secara eksplisit dan tanpa sebarang keraguan mengizinkan pengumpulan, penggunaan dan pemindahan, dalam bentuk elektronik atau lain-lain, data peribadi anda* 

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*seperti yang diterangkan dalam Perjanjian ini dan apa-apa bahan pemberian Anugerah yang lain oleh dan di antara, seperti yang berkenaan, Majikan, Syarikat dan mana-mana Ahli Gabungan lain untuk tujuan eksklusif bagi melaksanakan, mentadbir dan menguruskan penyertaan anda di dalam Pelan.* 

*Anda memahami bahawa Syarikat dan Majikan mungkin memegang maklumat peribadi tertentu tentang anda, termasuk, tetapi tidak terhad kepada, nama anda, alamat rumah dan nombor telefon, alamat emel, tarikh lahir, nombor insurans sosial, pasport atau nombor pengenalan lain (seperti, nombor pendaftaran penduduk tetap atau nombor kad pengenalan), gaji, kewarganegaraan, jawatan, apa-apa syer Saham Biasa atau jawatan pengarah yang dipegang dalam Syarikat, butir-butir semua Anugerah atau apa-apa hak lain atas syer Saham Biasa atau faedah bersamaan yang dianugerahkan, dibatalkan, dibeli, dilaksanakan, terletak hak, tidak diletak hak ataupun yang belum dijelaskan bagi faedah anda ("Data"), untuk tujuan eksklusif bagi melaksanakan, mentadbir dan menguruskan Pelan tersebut. Data tersebut dibekalkan oleh Syarikat dan juga oleh anda melalui maklumat yang dikumpul berkaitan dengan Perjanjian dan Pelan.*

*Anda memahami bahawa Data ini akan dipindahkan kepada [E\*TRADE daripada Morgan Stanley] atau pembekal perkhidmatan pihak ketiga lain yang mungkin dipilih oleh Syarikat pada masa depan, yang membantu Syarikat dengan pelaksanaan, pentadbiran dan pengurusan Pelan. Pembekal perkhidmatan pihak ketiga tersebut mungkin termasuk penasihat undang-undang luar Syarikat serta juruaudit Syarikat. Anda memahami bahawa penerima-penerima Data mungkin berada di Amerika Syarikat atau mana-mana tempat lain, dan bahawa negara penerima-penerima mungkin mempunyai undang-undang privasi data dan perlindungan yang berbeza daripada negara anda. Anda memahami bahawa anda boleh meminta satu senarai yang mengandungi nama-nama dan alamat-alamat penerima-penerima Data yang berpotensi dengan menghubungi wakil sumber manusia tempatan anda, iaitu [Insert HR contact]. Anda memberi kuasa kepada Syarikat, [E\*TRADE daripada Morgan Stanley] dan mana-mana penerima-penerima lain yang mungkin membantu Syarikat (pada masa sekarang atau pada masa depan) dengan melaksanakan, mentadbir dan menguruskan Pelan untuk menerima, memiliki, menggunakan, mengekalkan dan memindahkan Data, dalam bentuk elektronik atau lain-lain, bagi tujuan tunggal melaksanakan, mentadbir dan menguruskan penyertaan anda di dalam Pelan, termasuk apa-apa pemindahan Data yang dikehendaki kepada broker, egen eskrow atau pihak ketiga dengan siapa sebarang syer Saham Biasa yang dibeli di bawah Pelan boleh didepositkan. Selanjutnya, anda memahami bahawa Data boleh dipindahkan kepada pihak berkuasa kerajaan jika Syarikat atau Majikan anda menentukan bahawa pemindahan tersebut diperlukan atau dinasihatkan untuk tujuan mematuhi Undang-undang Terpakai.*

*Anda memahami bahawa Data hanya akan disimpan selagi ia adalah diperlukan untuk melaksanakan, mentadbir, dan menguruskan penyertaan anda dalam Pelan. Anda memahami bahawa anda boleh, pada bila-bila masa, melihat Data, meminta maklumat mengenai penyimpanan dan pemprosesan Data, meminta mana-mana pindaan yang perlu ke atas Data, mengehadkan pemprosesan Data, atau menolak atau menarik balik persetujuan dalam ini, dalam mana-mana kes tanpa kos, dengan menghubungi wakil sumber manusia tempatan. Selanjutnya, anda memahami bahawa anda memberikan persetujuan di sini secara sukarela semata-mata. Sekiranya anda tidak bersetuju, atau sekiranya anda kemudian membatalkan persetujuan anda, status pekerjaan atau perkhidmatan anda dengan Syarikat tidak akan terjejas; satu-satunya akibat sekiranya anda tidak bersetuju atau menarik balik persetujuan anda adalah bahawa Syarikat tidak akan dapat memberikan anda Unit Saham atau anugerah* 

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*ekuiti lain atau mentadbir atau mengekalkan anugerah-anugerah tersebut. Oleh itu, anda memahami bahawa keengganan atau penarikan balik persetujuan anda boleh menjejaskan keupayaan anda untuk mengambil bahagian dalam Pelan. Untuk maklumat lebih lanjut mengenai akibat-akibat keengganan anda untuk memberikan keizinan atau penarikan balik keizinan, anda memahami bahawa anda boleh menghubungi wakil sumber manusia tempatan.* 

***Notifications***

<u>Director Notification Obligation</u>

Director Notification Obligation. If Participant is a director of a Malaysian Subsidiary, Participant is subject to certain notification requirements under the Malaysian Companies Act, 2016. Among these requirements is an obligation to notify the Malaysian Subsidiary in writing when Participant receives or disposes of an interest (*e.g.*, an Award under the Plan or shares of Common Stock) in the Company or any related company. Such notifications must be made within 14 days of receiving or disposing of any interest in the Company or any related company.

**<u>THE NETHERLANDS</u>**

No country-specific provisions apply.

**<u>POLAND</u>**

***Notifications***

<u>Exchange Control Information</u>. Polish residents holding cash and foreign securities (including shares of Common Stock) in bank or brokerage accounts outside of Poland must report information to the National Bank of Poland on transactions and balances in such accounts if the value of such cash and securities exceeds a certain threshold (currently, PLN 7 million). If required, such reports must be filed on special forms available on the website of the National Bank of Poland. Participant should consult with Participant's personal legal advisor to determine whether Participant will be required to submit reports to the National Bank of Poland.

Further, any transfer of funds in excess of a certain threshold (currently, €15,000, or PLN 15,000 if such transfer of funds is connected with business activity of an entrepreneur) into or out of Poland must be effected through a bank account in Poland. All documents connected with any foreign exchange transactions must be retained for a period of five years from the end of the year in which the transaction occurred.

**<u>SPAIN</u>**

***Terms and Conditions***

<u>Labor Law Acknowledgment</u>.

By accepting the RSUs, Participant consents to participate in the Plan and acknowledges that Participant has received a copy of the Plan.

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Participant understands that the Company has unilaterally, gratuitously and in its sole discretion decided to grant the RSUs under the Plan to individuals who may be Employees, Consultants, Directors, or Non-Employee Directors of the Company or any parent, Subsidiary or affiliate throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any parent, Subsidiary or affiliate. Consequently, Participant understands that the RSUs are granted on the assumption and condition that the RSUs and the Shares issued upon settlement of the RSUs shall not become a part of any employment or service agreement (either with the Company or any parent, Subsidiary or affiliate) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever.

As a condition of the grant of the RSUs, unless otherwise provided by the Company or in the Agreement, Participant's Termination of Service will generally automatically result in the forfeiture and loss of the Shares subject to the unvested portion of the RSUs. In particular, and without limitation to the provisions of the Plan, Participant understands and agrees that any unvested portion of the RSUs as of the date of Participant's Termination of Service will be cancelled without entitlement to the underlying Shares or to any amount as indemnification if Participant terminates Service by reason of, including, but not limited to, resignation, retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without cause (i.e., subject to a "despido improcedente"), individual or collective dismissal on objective grounds, whether adjudged or recognized to be with or without cause, material modification of the terms of employment under Article 41 of the Workers' Statute, relocation under Article 40 of the Workers' Statute, and/or Article 50 of the Workers' Statute, unilateral withdrawal by the Service Recipient and under Article 10.3 of the Royal Decree 1382/1985.

Finally, Participant understands that the grant of the RSUs would not be made to Participant but for the assumptions and conditions referred to herein; thus, Participant acknowledges and freely accepts that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the grant of the RSUs shall be null and void.

***Notifications***

<u>Securities Law Information</u>. No "offer of securities to the public," as defined under Spanish law, has taken place or will take place in the Spanish territory. The Agreement and the Plan have not been nor will they be registered with the Comisión Nacional del Mercado de Valores (the Spanish securities regulator), and none of these documents constitutes a public offering prospectus.

<u>Exchange Control Information</u>. Participant is required to declare electronically to the Bank of Spain any securities accounts (including brokerage accounts held abroad), as well as the Shares held in such accounts if the value of the transactions during the prior tax year or the balances in such accounts as of December 31 of the prior tax year exceed EUR 1,000,000.

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**<u>UNITED KINGDOM</u>**

***Terms and Conditions***

<u>Definitions</u>. The phrases "termination of service" or "termination of employment" as used in the Plan and the Agreement shall mean Participant's Termination of Employment. For this purpose, "***Termination of Employment***" means the time when the employee-employer relationship between Participant and the Company or any subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding terminations where there is a simultaneous reemployment or continuing employment of Participant by the Company or any subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to a Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment.

<u>Participants</u>. The Agreement as amended by this Appendix forms the rules of the employee share scheme applicable to the United Kingdom-based Participants of the Company and any subsidiaries. Only employees of the Company or any Subsidiary are eligible to be granted RSUs or be issued Shares under the Agreement. Other Service Providers (including consultants or non-employee directors) who are not employees are not eligible to receive RSUs under the Agreement in the United Kingdom. The Agreement incorporates the terms of the Plan with the exception that reference to "Service Provider" when used in the Plan (as incorporated into this Agreement) and in the Agreement itself shall mean employee of the Company or any Subsidiary only and shall not include other persons providing services to the Company or any Subsidiary. Accordingly, all references in the Agreement to Participant's "Service" or "Termination of Service" shall be interpreted as references to Participant's employment or Termination of Employment.

<u>Not a Contract of Employment</u>. Nothing in the Agreement or in the Plan shall confer upon Participant any right to continue to serve as an employee of the Company or any of its subsidiaries and the grant of the RSUs does not form part of Participant's entitlement to remuneration or benefits in terms of his employment with the Company or any subsidiary.

<u>Tax Obligations</u>. The following provision supplements Section 2.6 of the Agreement:

<u>Tax and National Insurance Contributions Acknowledgment</u>. Participant agrees that Participant is liable for the full amount of all U.S. and non-U.S. federal, state and/or local taxes (including, without limitation, income tax, withholding tax, social security contributions, fringe benefit tax, employment tax, stamp tax, including employee's National Insurance contributions ("***NICs***") and (at the discretion of the Company) employer's NICs (or other similar obligations wherever in the world arising)) applicable to the taxable income resulting from the grant of the RSUs, the settlement of the RSUs, or the issuance of Shares (the "***Tax-Related Items***") that is attributable to (1) the grant or settlement of, or any benefit derived by Participant from, the RSUs or the Shares which are the subject of the RSUs; (2) the transfer or issuance of Shares on the settlement of the RSUs; (3) any restrictions applicable to any Shares held by Participant ceasing

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to apply thereto; or (4) the disposal of any Shares (each a "***Taxable Event***") and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or a Subsidiary or His Majesty's Revenue and Customs ("***HMRC***") (or any other tax authority or relevant authority). Participant also agrees to indemnify and keep indemnified the Company, any subsidiary and his/her employing company (the "***Employer***") if different, against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on Participant's behalf that is attributable to a Taxable Event.

The RSUs cannot be settled until Participant has made such arrangements as the Company may require for the satisfaction of any Tax-Related Items that may arise in connection with the vesting and settlement of the RSUs and/or the acquisition of Shares by Participant. The Company shall not be required to issue, allot or transfer Shares until Participant has satisfied this obligation.

Participant undertakes that, upon request by the Company, he or she will (on or within 14 days of acquiring the Shares) join with his or her Employer in electing, pursuant to Section 431(1) of the Income Tax (Earnings and Pensions) Act 2003 ("***ITEPA***") that, for relevant tax purposes, the market value of the Shares acquired on settlement of the RSUs on any occasion will be calculated as if the Shares were not restricted and Sections 425 to 430 (inclusive) of ITEPA are not to apply to such Shares.

Participant agrees that if Participant does not pay or Participant's Employer or the Company or a subsidiary does not withhold from Participant the full amount of all Tax-Related Items that Participant owes due to any Taxable Event within 90 days after the end of the tax year in which the Taxable Event occurred or such other period in Section 22 2(1)(c) of ITEPA, then the amount that should have been withheld shall constitute a loan owed by Participant to the Employer, effective 90 days after the end of the tax year in which the Taxable Event occurred. Participant agrees that the loan will bear interest at the HMRC's official rate and will be immediately due and repayable by Participant, and the Company and/or the Employer may recover it at any time thereafter by withholding the funds from salary, bonus or any other funds due to Participant by the Employer, by withholding in Shares issued upon vesting and settlement of the RSUs or from the cash proceeds from the sale of Shares or by demanding cash or a cheque from Participant. Participant also authorizes the Company to delay the issuance of any Shares to Participant unless and until the loan is repaid in full.

Notwithstanding the foregoing, if Participant is an officer or executive director (as within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply in case the indemnification is viewed as a loan. In the event that Participant is an officer or executive director and Tax-Related Items are not collected from or paid by Participant within 90 days of the end of the tax year in which the Taxable Event occurred, the amount of any uncollected Tax-Related Items may constitute a benefit to Participant on which additional income tax and NICs may be payable. Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company

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and/or a subsidiary (as appropriate) for the value of NICs due on this additional benefit which the Company and/or a Subsidiary may collect by any of the means referred to in Section 10.5 of the Plan.

<u>Data Protection.</u> The Company and the Service Recipient will collect and process information relating to Participant in accordance with any applicable data privacy notice and applicable data protection laws.

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**<u>Exhibit 1 (for German Participants)</u>**

**PRIVACY NOTICE**

The entity responsible for processing your personal data (*i.e.*, the "**Controller**") for the purpose of allocating and sharing Awards as described in the This Agreement, dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] 2026 (the "**Grant Letter**") and the Plan is Neutron Holdings, Inc., having its registered office at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], United States of America (the "**Company**"). The present privacy notice (the "**Notice**") provides for information in relation to the processing of your personal data in this context.

**1. WHAT PERSONAL DATA DOES THE COMPANY PROCESS ABOUT YOU?**

a.Some of the personal data is collected directly from you. Other personal data is provided to the Company by other group companies.

b.The personal data the Company collects about you may include (i) identification data such as your name, address and telephone number, birthdate, social security/insurance number or other identification number, salary, nationality, (ii) job title, department, as well as related information, *e.g.*, employee ID number, (iii) your bank account details, and (iv) details regarding your Awards and other information relating to the Plan and this Agreement.

c.The Company requires your personal data for business and accounting purposes. Refusal to provide personal data requested could lead to the impossibility for the Company to proceed with any matters relating to the Plan and the This Agreement, including the allocation, award and any payments relating to your awards.

**2. HOW DOES THE COMPANY PROCESS YOUR PERSONAL DATA?**

a.The Company processes your personal data only for legitimate purposes, including (i) to implement, administer and manage the Plan and the This Agreement and in order to proceed with the allocation, award and any payments relating to your awards, and (ii) to comply with accounting requirements.

b.The Company does not keep your personal data for longer than is necessary to fulfil the purposes above – unless statutory retention obligations and/or legitimate interests may require a longer storage. This may include the defense and assertion of legal claims.

c.No automated decision making or profiling is conducted in the context of the Plan and the This Agreement.

**3. DOES THE COMPANY DISCLOSE YOUR PERSONAL DATA TO OTHER PARTIES?**

a.The Company may disclose your personal data, where reasonably necessary and in accordance with applicable law for the purposes set out in clause 2 above, including to (i) other entities within the group, (ii) accountants, auditors, legal advisors, (iii) services providers such as payroll administrators and benefits advisors, and (iv) third parties to whom the Company is required to disclose information by law or regulatory requirement (including authorities and litigation counterparties).

b.If your personal data should be transferred to countries outside the European Union / the European Economic Area, the Company will apply appropriate safeguards to secure such transfers.

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**4. WHAT RIGHTS DO YOU HAVE?**

a.You have certain rights in relation to your personal data. Please note that these may vary depending on the right and circumstances of its assertion.

XI.13&nbsp;&nbsp;&nbsp;&nbsp;the right to access your personal data and ask for a copy of your processed personal data;

XI.14&nbsp;&nbsp;&nbsp;&nbsp;the right to have incomplete or inaccurate personal data corrected;

XI.15&nbsp;&nbsp;&nbsp;&nbsp;the right to object to the use of your personal data, or to withdraw your consent (where processing is based on your prior consent);

XI.16&nbsp;&nbsp;&nbsp;&nbsp;the right to restrict the use of your personal data;

XI.17&nbsp;&nbsp;&nbsp;&nbsp;the right to require the Company to erase/delete your personal data;

XI.18&nbsp;&nbsp;&nbsp;&nbsp;the right to receive personal data which you have provided to the Company in a structured, commonly used and machine-readable format and the right to transmit those data to another data controller;

XI.19&nbsp;&nbsp;&nbsp;&nbsp;the right to lodge a complaint with the competent data protection authority.

b.If you wish to exercise any of these rights or have other questions about how the Company processes your personal data, you can email [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].

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**NEUTRON HOLDINGS, INC.**

**2026 INCENTIVE AWARD PLAN**

**RESTRICTED STOCK UNIT AWARD GRANT NOTICE**

Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), pursuant to its 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"), hereby grants to the holder listed below ("***Participant***"), an award of restricted stock units ("***Restricted Stock Units***" or "***RSUs***"). Each vested Restricted Stock Unit represents the right to receive, in accordance with the Restricted Stock Unit Award Agreement attached hereto as **Exhibit A** (the "***Agreement***"), including any special provisions for Participant's country of residence, if any, set forth in the Appendix for Participant's Country (the "***Country Provisions***"), one share of Common Stock ("***Share***"). This award of Restricted Stock Units is subject to all of the terms and conditions set forth herein and in the Agreement, the Country Provisions (if applicable) and the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Restricted Stock Unit Award Grant Notice, the Country Provisions and the Agreement.

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| | |
|:---|:---|
| **Participant:** | [__________________________] |
| **Grant Date:** | [__________________________] |
| **Total Number of RSUs:** | [_____________]  |
| **Vesting Commencement Date:** | [_____________] |
| **Vesting Schedule:** | [_____________] |
| **Termination:** | If Participant experiences a Termination of Service, all RSUs that have not become vested on or prior to the date of such Termination of Service will thereupon be automatically forfeited by Participant without payment of any consideration therefor. |

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Participant understands that the terms of this award of RSUs explicitly include the following (a "***Sell to Cover***"):

Upon vesting of the RSUs and issuance of the resulting Shares, the Company, on Participant's behalf, will instruct the Company's transfer agent (together with any other party the Company determines necessary to execute the Sell to Cover, the "***Agent***") to sell that number of Shares determined in accordance with Section 2.6 of the Agreement as may be necessary to satisfy any resulting withholding tax obligations on the Company, and the Agent will remit the cash proceeds of such sale to the Company. The Company shall then make a cash payment equal to the required tax withholding from the cash proceeds of such sale directly to the appropriate taxing authorities.

If the Company uses an electronic capitalization table system (such as Shareworks, Certent, Fidelity or Equity Edge) and the fields in this Grant Notice are blank or the information

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is otherwise provided in a different format electronically, the blank fields and other information will be deemed to come from the electronic equity administration system and is considered part of this Grant Notice. In addition, the Company's signature below shall be deemed to have occurred by the Company's input of the RSUs in such electronic equity administration system and the Participant's signature below shall be deemed to have occurred by the Participant's online acceptance of the RSUs through such electronic equity administration system.

By his or her signature and the Company's signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice. Participant has reviewed the Plan, the Agreement and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, the Agreement and this Grant Notice. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, the Agreement or this Grant Notice.

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| | |
|:---|:---|
| **NEUTRON&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HOLDINGS, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INC.:** | **PARTICIPANT:** |
| **PARTICIPANT:** | |
| By: | By: |
| Print Name:  | Print Name: |
| Print Name:  | Print Name: |
| Title: |  |
| Address: | Address: |

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**EXHIBIT A**

**TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

Pursuant to the Restricted Stock Unit Award Grant Notice (the "***Grant Notice***") to which this Restricted Stock Unit Award Agreement (this "***Agreement***") is attached, Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), has granted to Participant the number of restricted stock units ("***Restricted Stock Units***" or "***RSUs***") set forth in the Grant Notice under the Company's 2026 Incentive Award Plan, as may be amended from time to time (the "***Plan***"). Each Restricted Stock Unit represents the right to receive one share of Common Stock (a "***Share***") upon vesting.

**ARTICLE XX.**

**GENERAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Terms of Plan</u>. The RSUs are subject to the terms and conditions of the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. If the Country Provisions apply to Participant, in the event of a conflict between the terms of this Agreement, the Grant Notice or the Plan and the Country Provisions, the terms of the Country Provisions shall control.

**ARTICLE XXI.**

**GRANT OF RESTRICTED STOCK UNITS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant of RSUs</u>. Pursuant to the Grant Notice and upon the terms and conditions set forth in the Plan, this Agreement and the Country Provisions (if applicable), effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to Participant an award of RSUs under the Plan in consideration of Participant's past and/or continued employment with or service to the Company or any Subsidiary and for other good and valuable consideration, subject to adjustments as provided in Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Unsecured Obligation</u>. Unless and until the RSUs have vested in the manner set forth in Article II hereof, Participant will have no right to receive Common Stock or other property under any such RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting Schedule</u>. Subject to Section 2.5 hereof, the RSUs shall vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth in the Grant Notice (rounding down to the nearest whole Share). Notwithstanding the foregoing and the Grant Notice, but subject to Section 2.5 hereof, in the

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event of a Change in Control, the RSUs shall be treated pursuant to Section 9.2 and 9.3 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Consideration to the Company</u>. In consideration of the grant of the award of RSUs pursuant hereto, Participant agrees to render faithful and efficient services to the Company and its Subsidiaries, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Forfeiture, Termination and Cancellation upon Termination of Service</u>. Notwithstanding any contrary provision of this Agreement or the Plan, upon Participant's Termination of Service for any or no reason, all Restricted Stock Units which have not vested prior to or in connection with such Termination of Service shall thereupon automatically be forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant's beneficiary or personal representative, as the case may be, shall have no further rights hereunder. No portion of the RSUs which has not become vested as of the date on which Participant incurs a Termination of Service shall thereafter become vested, except as may otherwise be provided by the Administrator or as set forth in a written agreement between the Company (or any Subsidiary that is the employer of Participant) and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Common Stock upon Vesting</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;As soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Section 2.3 hereof, but in no event later than March 15 of the calendar year immediately following the year in which such vesting date occurs (for the avoidance of doubt, this deadline is intended to comply with the "short term deferral" exemption from Section 409A of the Code), the Company shall deliver to Participant (or any transferee permitted under Section 3.2 hereof) a number of Shares equal to the number of RSUs subject to this Award that vest on the applicable vesting date. Notwithstanding the foregoing, in the event Shares are not issued pursuant to Section 10.7 of the Plan, the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares can again be issued in accordance with such Section.

&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)&nbsp;&nbsp;&nbsp;&nbsp;As set forth in Section 10.5 of the Plan, the Company shall have the authority and the right to deduct or withhold, or to require Participant to remit to the Company, an amount sufficient to satisfy all applicable Tax-Related Items required by law to be withheld with respect to any taxable event arising in connection with the RSUs. Such Tax-Related Items shall be satisfied by using a Sell to Cover pursuant to the Grant Notice. The Company shall not be obligated to deliver any Shares to Participant or Participant's legal representative unless and until Participant or Participant's legal representative shall have paid or otherwise satisfied in full the amount of all Tax-Related Items applicable to the taxable income of Participant resulting from the grant or vesting of the Restricted Stock Units or the issuance of Shares. By accepting this award of RSUs, Participant has agreed to a Sell to Cover to

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satisfy any Tax-Related Items calculated at up to the maximum statutory tax rate, as determined by the Company, and Participant hereby acknowledges and agrees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby appoints the Agent as Participant's agent and authorizes the Agent to (1) sell on the open market at the then prevailing market price(s), on Participant's behalf, as soon as practicable on or after the date the Shares are issued upon vesting of the Restricted Stock Units, that number (rounded up to the next whole number) of the Shares so issued necessary to generate proceeds to cover (x) any Tax-Related Items incurred with respect to such vesting or issuance based on up to the maximum statutory tax rates, as determined by the Company, and (y) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto and (2) in the Company's discretion, apply any remaining funds to Participant's federal tax withholding or remit such remaining funds to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby authorizes the Company and the Agent to cooperate and communicate with one another to determine the number of Shares that must be sold pursuant to subsection (i) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;Participant understands that the Agent may effect sales as provided in subsection (i) above in one or more sales and that the average price for executions resulting from bunched orders will be assigned to Participant's account. In addition, Participant acknowledges that it may not be possible to sell Shares as provided in subsection (i) above due to (1) a legal or contractual restriction applicable to the Participant or the Agent, (2) a market disruption or (3) rules governing order execution priority on the national exchange where the Shares may be traded. In the event of the Agent's inability to sell Shares, Participant will continue to be responsible for the timely payment to the Company and/or its affiliates of all Tax-Related Items that are required by applicable laws and regulations to be withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Participant acknowledges that regardless of any other term or condition of this Section 2.6(b), the Agent will not be liable to Participant for (1) special, indirect, punitive, exemplary or consequential damages, or incidental losses or damages of any kind or (2) any failure to perform or for any delay in performance that results from a cause or circumstance that is beyond its reasonable control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Participant hereby agrees to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this Section 2.6(b). The Agent is a third-party beneficiary of this Section 2.6(b).

This Section 2.6(b) shall terminate not later than the date on which all tax withholding and obligations arising in connection with the vesting and issuance of the RSUs have been satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Delivery of Shares</u>. The Shares deliverable hereunder may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be required to issue Shares deliverable hereunder prior to fulfillment of the conditions set forth in Section 10.7 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as Stockholder</u>. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights

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and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Article IX of the Plan.

**ARTICLE XXII.**

**OTHER PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u>. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability</u>. The RSUs shall be subject to the restrictions on transferability set forth in Section 10.1 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Consultation</u>. Participant understands that Participant may suffer adverse tax consequences in connection with the RSUs granted pursuant to this Agreement (and the Shares issuable with respect thereto). Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the RSUs and the issuance of Shares with respect thereto and that Participant is not relying on the Company for any tax advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Agreement</u>. Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments Upon Specified Events</u>. The Administrator may accelerate the vesting of the RSUs in such circumstances as it, in its sole discretion, may determine. Participant acknowledges that the RSUs are subject to adjustment, modification and termination in certain events as provided in this Agreement and Article IX of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company's principal office, and any notice to be given to Participant shall be addressed to Participant at Participant's last address reflected on the Company's records. By a notice given pursuant to this Section 3.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in

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a post office or branch post office regularly maintained by the United States Postal Service (or similar non-U.S. entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant's Representations</u>. If the Shares issuable hereunder have not been registered under the Securities Act or any applicable state laws on an effective registration statement at the time of such issuance, Participant shall, if required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate by the Company or its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles</u>. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. By entering into this Agreement, Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case located in the State of Delaware, for any action arising out of or relating to this Agreement and the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By entering into this Agreement, Participant irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of the Plan or this Agreement in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By entering into this Agreement, Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Conformity to Securities Laws</u>. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any other Applicable Law. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to Applicable Law. To the extent permitted by Applicable Law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; *provided, however,* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the RSUs in any material way without the prior written consent of Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The Company may assign any of its rights and delegate any of its obligations under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations Applicable to Section 16 Persons</u>. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Not a Contract of Service Relationship</u>. Nothing in this Agreement or in the Plan shall confer upon Participant any right to commence or continue to serve as an Employee or other Service Provider or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the employment or services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise by Applicable Law or in a written agreement between the Company or a Subsidiary (as applicable) and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. The Plan, the Grant Notice and this Agreement (including the Country Provisions) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, *provided* that the RSUs shall be subject to any accelerated vesting provisions in any written agreement between Participant and the Company (or any Subsidiary who is the employer of Participant) or a Company plan pursuant to which Participant is eligible to participate, in each case, in accordance with the terms therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A</u>. This Award is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, "***Section 409A***"). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that this Award (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Participant's Rights</u>. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation

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on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to RSUs, as and when payable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Rules Particular To Specific Countries</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;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Generally*. Participant shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form approved by the Company) under which any liability to the Company's (or a Subsidiary's) Tax-Related Items, including, but not limited to, National Insurance Contributions ("***NICs***") and the Fringe Benefit Tax, is transferred to and met by Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;*Tax Indemnity*. Participant shall indemnify and keep indemnified the Company and any of its subsidiaries from and against any Tax-Related Items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Country Provisions for RSUs Granted to Participants</u>. The RSUs shall be subject to the Country Provisions, if any, for Participant's country of residence, as set forth in the Country Provisions. If Participant relocates to one of the countries included in the Country Provisions during the life of the RSUs, the special provisions for such country shall apply to Participant, to the extent the Company determines that the application of such provisions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. The Company reserves the right to impose other requirements on the RSUs and the Shares issuable upon settlement of the RSUs, to the extent the Company determines it is necessary or advisable in order to comply with local laws or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

\*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*&nbsp;&nbsp;&nbsp;&nbsp; \*

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**APPENDIX**

**TO**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

**Special Country Provisions for RSUs for Participants**

This Appendix includes special terms and conditions applicable to Participants in the countries below. These terms and conditions are in addition to those set forth in the Restricted Stock Unit Agreement (the "***Agreement***"), Restricted Stock Unit Grant Notice to which the Agreement is attached and the Plan, and to the extent there are any inconsistencies between these terms and conditions and those set forth in the Agreement, these terms and conditions shall prevail. Any capitalized term used in this Appendix without definition shall have the meaning ascribed to such term in the Plan or the Agreement, as applicable.

In accepting the RSUs, Participant acknowledges, understands and agrees that:

(m)the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

(n)the grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of restricted stock units, or benefits in lieu of restricted stock units, even if restricted stock units have been granted in the past;

(o)all decisions with respect to future restricted stock units or other grants, if any, will be at the sole discretion of the Company;

(p)the grant of RSUs and Participant's participation in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company, or, if different, Participant's employer, or any Subsidiary or parent or affiliate of the Company, and shall not interfere with the ability of the Company, the employer or any Subsidiary or parent or affiliate of the Company, as applicable, to provide for a termination of Participant's service;

(q)Participant is voluntarily participating in the Plan;

(r)the RSUs and any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

(s)for labor law purposes, the RSUs and any Shares acquired under the Plan and the income and value of same are not part of normal or expected, wages, salary or other compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits or similar

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payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, any Subsidiary, Participant's employer, its parent, or any affiliate of the Company;

(t)the future value of the Shares underlying the RSUs is unknown, indeterminable, and cannot be predicted with certainty;

(u)the value of the Shares acquired upon vesting of the RSUs may increase or decrease in value;

(v)the RSUs and the Common Stock subject to the RSUs are not intended to replace any pension rights or compensation;

(w)neither the Company, the employer nor any parent, Subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to Participant pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired pursuant to the RSUs; and

(x)nothing in the Plan or this Agreement shall give the Participant any rights to compensation or damages including, without limitation, for any loss or potential loss that the Participant may suffer by reason of the cancellation and forfeiture of the RSUs as a result of the Participant's Termination of Service including where any termination is subsequently held to be wrongful or unfair.

**<u>Securities Law Notice</u>:** Unless otherwise noted, neither the Company nor the Shares are registered with any local stock exchange or under the control of any local securities regulator outside the United States. The Agreement (of which this Appendix is a part), the Plan, and any other communications or materials that Participant may receive regarding participation in the Plan do not constitute advertising or an offering of securities outside the United States, and the issuance of securities described in any Plan-related documents is not intended for public offering or circulation in Participant's jurisdiction.

**<u>General Provisions</u>**

**<u>Data Privacy</u>. Participant acknowledges and agrees to the data privacy provisions set forth in Section 11.8 of the Plan.**

**<u>Notifications</u>**<u>.</u> This Appendix also includes information relating to exchange control and other issues of which Participant should be aware with respect to his or her participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the respective countries as of [____] 2026. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information herein as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the RSUs vest or Shares acquired under the Plan are sold. In addition, the information is general in nature and may not apply to the

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particular situation of Participant, and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to his or her situation. Finally, Participant understands that if Participant is a citizen or resident of a country other than the one in which he or she is currently residing or working, the information contained herein may not be applicable to Participant.

**<u>English Language</u>**. By participating in the Plan, Participant acknowledges that Participant is proficient in the English language, or has consulted with an advisor who is sufficiently proficient in English, so as to allow him or her to understand the terms and conditions of the Plan and the Agreement applicable to Participant's country of residence. If Participant has received the Agreement and the Plan applicably to his or her country of residence or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

**<u>Currency</u>**. Participant understands that, any amounts related to the RSUs will be denominated in U.S. dollars and will be converted to any local currency using a prevailing exchange rate in effect at the time such conversion is performed, as determined by the Company. Participant understands and agrees that neither the Company nor any affiliate shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the U.S. dollar that may affect the value of the RSUs, or of any amounts due to Participant or as a result of the subsequent sale of any Shares acquired under the RSUs.

**<u>Foreign Asset/Account Reporting; Exchange Controls</u>.** Participant's country of residence may have certain foreign asset and/or account reporting or exchange control requirements which may affect his or her ability to acquire or hold Shares under the Agreement or cash received (including proceeds arising from the sale of Shares) in a brokerage or bank account outside Participant's country. Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country. Participant may also be required to repatriate sale proceeds or other funds received as a result of his/her participation in the Plan to his or her country through a designated broker or bank and/or within a certain time after receipt. Participant is responsible for ensuring compliance with such regulations and should consult with his or her personal legal advisor for any details.

**<u>No Advice Regarding Grant</u>**. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan or the Agreement or any receipt of the RSUs or sale of Shares acquired upon settlement of the RSUs. Participant should consult his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan and the Agreement before taking any action related to the RSUs or the Shares.

**<u>Imposition of Other Requirements</u>**. The Company reserves the right to impose other requirements on Participant, on the RSUs and/or any Shares issuable upon settlement of the RSUs, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

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**<u>CANADA</u>**

<u>Award</u>. The following provision replaces Section 2.1 of the Agreement:

<u>2.1&nbsp;&nbsp;&nbsp;&nbsp;Award of RSUs</u>. The Company has granted the RSUs to Participant effective as of the grant date set forth in the Grant Notice (the "***Grant Date***"). Each RSU represents the right to receive one Share or, at the option of the Company, an amount of cash, in either case, as set forth in this Agreement. Participant will have no right to the distribution of any Shares or payment of any cash until the time (if ever) the RSUs have vested. For certainty, RSUs are granted in respect of the Participant's service with the Company in the year that coincides with the Grant Date, and not in respect of any previous year.

<u>Settlement</u>. The following provision supplements Section 2.6 of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;RSUs will be paid in Shares or cash at the Company's option, and any dividend equivalents in respect of such RSUs will be paid in Shares, in each case as soon as administratively practicable after the vesting of the applicable RSUs, but in no event any later than the earlier of the following dates: (i) sixty (60) days after the date on which such RSUs vest, and (ii) December 31st of the third year following the Grant Date.

<u>Nature of Grant</u>. The following provisions replace Section 1(h) and 1(k) of Appendix A:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;except as explicitly and minimally required under applicable legislation, the RSUs, the Dividend Equivalents and the Shares subject to the RSUs, and the income from and value of same, are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;except as explicitly and minimally required under applicable legislation, no claim or entitlement to compensation or damages shall arise from (i) forfeiture of the RSUs or Dividend Equivalents resulting from Participant ceasing to provide employment or other services to the Company or any Subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment or service agreement, if any) and/or (ii) the forfeiture or cancellation of the RSUs or Dividend Equivalents and/or recoupment of any Shares, cash, or other benefits acquired under the Plan resulting from the application of any recoupment or compensation recovery policy the Company may adopt and/or amend from time to time, or any other policy of the Company or any Subsidiary that provides for forfeiture, disgorgement or clawback with respect to incentive compensation, or as required by applicable laws, rules, regulations or stock exchange listing standards;

The following provision replaces Section 2.5 of the Agreement:

In the event of Participant's Termination of Service (for any reason whatsoever, whether or not later found to be invalid or in breach of any Applicable Laws in the jurisdiction where Participant is employed or the terms of Participant's employment or service agreement, if any), Participant's right to participate in the Plan, if any, will terminate effective as of the date that

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Participant is no longer actively employed by, or actively providing services to, the Company or a Subsidiary (the "***Termination Date***"). Unless explicitly required by applicable legislation, the Termination Date shall exclude and shall not be extended by any period during which notice, pay in lieu of notice or related payments or damages are provided or required to be provided under statute, contract, common/civil law or otherwise. Subject to Applicable Laws, the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of Participant's participation in the Plan. Participant will not earn or be entitled to any grants or pro-rated vesting (including whether Participant may still be considered to be providing services while on a leave of absence) for that period of time after the Termination Date, nor will Participant be entitled to any compensation or damages in lieu of lost vesting or grants, and Participant waives their rights to any such compensation, damages or entitlements.

Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued entitlement to vesting during a statutory notice period, Participant acknowledges that Participant's right to vest in the RSUs, if any, will terminate effective as of the last day of Participant's minimum statutory notice period but Participant will not earn or be entitled to pro-rated vesting if the vesting date falls after the end of the statutory notice period, nor will Participant be entitled to any compensation for lost vesting if the vesting date falls after the end of the statutory notice period. For the sake of clarity, any reference to the date of Participant's Termination of Service (or any similar concept) under the Agreement or the Plan will be interpreted to mean the Termination Date.

***Notifications***

<u>Securities Law Information</u>. Participant is permitted to sell Shares acquired through the Plan through the Broker appointed under the Plan, if any (or any other broker acceptable to the Company), provided the resale of Shares acquired under the Plan takes place outside of Canada through the facilities of a stock exchange on which the Shares are listed. The Shares are currently listed on the

<u>Foreign Asset/Account Reporting Information</u>. Participant is required to report any foreign specified property, including Shares and rights to receive Shares (*e.g.*, RSUs), annually on a Form T1135 (Foreign Income Verification Statement) if the total cost of the foreign specified property exceeds CAD 100,000 at any time during the year. Thus, RSUs must be reported - generally at a nil cost - if the CAD 100,000 cost threshold is exceeded because of other foreign property. When Shares are acquired, their cost generally is the adjusted cost base ("***ACB***") of the Shares. The ACB would ordinarily equal the fair market value of the Shares at the time of acquisition, but if other Shares are also owned, this ACB may have to be averaged with the ACB of the other Shares. The Form T1135 generally must be filed by April 30 of the following year. Participant understands and agrees that Participant should consult with a personal legal advisor to ensure compliance with applicable reporting obligations.

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**<u>FRANCE</u>**

***Terms and Conditions***

<u>Language Consent.</u> In accepting the RSUs, Participant confirms having read and understood the documents relating to the RSUs (the Plan and this Agreement), which were provided in English. Participant accepts the terms of these documents accordingly.

<u>Consentement relatif à la langue utilisée</u>*. En acceptant le Unités Stock Restreintes, le Participant confirme avoir lu et compris les documents relatifs aux le Unités Stock Restreintes (le Plan et la présente Convention), qui ont été fournis en anglais. Le Participant accepte les termes de ces documents en conséquence*.

***Notifications***

<u>Non-Qualified Nature of Award</u>. The Award granted pursuant to the Agreement is not intended to be "French-qualified" and is ineligible for specific tax and/or social security treatment in France under Sections L. 225-197-1 to L. 225-197-5 and Sections L. 22-10-59 to L. 22-10-60 of the French Commercial Code, as amended.

<u>Exchange Control Information</u>. The value of any cash or securities imported to or exported from France without the use of a financial institution must be reported to the customs and excise authorities when the value of such cash or securities is equal to or greater than a certain amount (currently €10,000). Participant should consult with Participant's personal advisor(s) regarding any personal legal, regulatory or foreign exchange obligations Participant may have in connection with Participant's participation in the Plan.

<u>Foreign Asset/Account Reporting Information</u>. French residents must report annually any shares and bank accounts held outside France, including the accounts that were opened, used and/or closed during the tax year, to the French tax authorities, on an annual basis on a special Form N° 3916, together with Participant's personal income tax return. Failure to report triggers a significant penalty. Participant should consult with Participant's personal advisor(s) regarding any personal foreign asset/foreign account tax obligations Participant may have in connection with Participant's participation in the Plan.

**<u>GERMANY</u>**

***Terms and Conditions***

<u>Tax Obligations</u>. The following provision supplements Section 3.3 of the Agreement:

Each Participant who is either (a) resident for tax purposes in Germany or (b) otherwise subject to German income tax and/or social security contributions (the "***German Participant***") in respect of earnings received from the Company or any of its affiliates being the Participant's employing entity (the "***Employer***"), if different shall notify the Employer of their participation in the Plan and any grant, exercise, vesting, issuance or payment under the Plan.

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The German Participant shall indemnify and hold harmless the Employer from and against any liability for or obligation to pay any Tax Liability arising in connection with the German Participant's participation in the Plan.

The Employer shall have the authority and the right to deduct or withhold or require the German Participant to remit to the Employer, an amount sufficient to satisfy any Tax Liability required to be withheld and/or paid including, without limitation, the authority to deduct such amount from other compensation payable to the German Participant by the Employer.

„***Tax Liability***" shall be any liability for income tax, wage tax, solidarity surcharge, employee share of social security contributions, church tax, VAT and any other service or employment related taxes (as applicable), and in this regard also the German Participant's portions arising as a result of the Plan. Whenever Awards are granted or paid, the Company or the Employer shall notify the German Participant of the amount of Tax Liability, if any, which must be withheld by the Employer under applicable tax laws. For the purposes of withholding, fair market value shall be determined under applicable German law and its interpretation by the German tax authorities.

The German Participant understands that they may suffer adverse tax consequences as a result of the Awards which may exceed the amount, if any, actually withheld by the Company or the Employer. Neither the Company nor the Employer or any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the granting, vesting, exercise, issuance or payment of Awards. The Company, the Employer and the Subsidiaries do not commit and are under no obligation to structure any Awards to reduce or eliminate the German Participant's Tax Liability. The German Participant represents that the German Participant has had the opportunity to consult with any tax consultants the German Participant deems advisable in connection with the Awards and that the German Participant is not relying on the Company or the Employer for any tax advice. The German Participant is relying solely on such advisors and not on any statements or representations of the Company, the German Participant's Employer or any of their agents.

<u>Labor Law Acknowledgment</u>. The German Participant acknowledges that (i) any Awards granted pursuant to the Plan are discretionary, (ii) the Plan and any supplementary agreements are not a part of the terms and conditions of the German Participant's employment with the Employer and (iii) the income from the Awards, if any, is not part of the German Participant's entitlement to remuneration from the Employer and is not to be considered in valuing employment benefits or severance payable in the event of the termination of the German Participant's employment with the Employer.

***Notifications***

<u>Exchange Control Information</u>. Cross-border payments in connection with the sale of securities in excess of EUR 12,500 must be reported monthly by accessing the electronic General Statistics Reporting Portal (*Allgemeines Meldeportal Statistik*) via the Bundesbank's website (<u>www.bundesbank.de</u>). In addition, Participant may be required to report the acquisition of

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securities if the value of the securities acquired exceeds EUR 12,500 to the Bundesbank via email or telephone.

<u>Foreign Asset/Account Reporting Information</u>. German residents must notify their local tax office of the acquisition of Shares when they file their personal income tax returns for the relevant year if the value of the Shares acquired exceeds EUR 150,000 or in the unlikely event that the resident holds Shares exceeding 10% of the Company's total Shares outstanding. However, if the Shares are listed on a recognized U.S. stock exchange and Participant owns less than 1% of the total Stock, this requirement will not apply even if Shares with a value exceeding EUR 150,000 are acquired. Participant should consult with Participant's personal advisor(s) regarding any personal foreign asset/foreign account tax obligations Participant may have in connection with Participant's participation in the Plan.

<u>Insider Trading</u>. By accepting the Awards, the German Participant acknowledges that they may be subject to insider trading rules, which may affect the sale of shares acquired upon under the Plan. German securities laws prohibit insider trading according to Article 14 of the Market Abuse Regulation (VO (EU) 596/2014) if the shares are traded, admitted or for which admission on trading has been requested on a trading venue in the European Union.

<u>Data Protection</u>. This provision replaces the section of the Appendix incorporating Section 11.8 of the Plan ("***Data Privacy***"), which shall be disregarded in its entirety. [The Company acts as controller in relation to the personal data which may be shared by the German Participant under the Plan, the Agreement and this Appendix. Such personal data will be processed in compliance with applicable data protection laws, in particular the EU General Data Protection Regulation (EU) 2016/679 ("***GDPR***"). The Company independently determines the purposes and means for which personal data is processed under the Plan. To perform the Plan and to comply with the provisions therein and statutory retention obligations, the Company must collect, store, and otherwise process certain personal data of the German Participant (e.g. including, name contact details, and bank account details). Further information about the processing of personal data is set out in the privacy notice attached hereto as <u>Exhibit 1</u>.

For any eligible Participants located in Germany who sign a declaration of consent as provided by the Company, the Company or any subsidiary collects and processes personal data related to the Plan based on Participant's consent.

**<u>MALAYSIA</u>**

***Terms and Conditions***

<u>Data Privacy</u>. This provision replaces in its entirety Section 11.8 of the Plan and is directed at Plan Participants:

*You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other Award grant materials by and among, as applicable, the Employer, the Company and any other* 

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*Subsidiaries for the exclusive purpose of implementing, administering and managing your participation in the Plan.* 

*You understand that the Company and the Employer may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, email address, date of birth, social insurance, passport or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all Awards or any other entitlement to shares of Common Stock or equivalent benefits awarded, canceled, purchased, exercised, vested, unvested or outstanding in your favor ("****Data****"), for the exclusive purpose of implementing, administering and managing the Plan. Data is supplied by the Company and also by you through information collected in connection with the Agreement and the Plan.*

*You understand that Data will be transferred to [E\*TRADE from Morgan Stanley] or such other third-party service providers as may be selected by the Company in the future, which assist the Company with the implementation, administration and management of the Plan. Such third-party service providers may include the Company's outside legal counsel as well as the Company's auditor. You understand that the recipients of Data may be located in the United States or elsewhere, and that the recipients' country may have different data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients of Data by contacting your local human resources representative, [Insert Contact Information]. You authorize the Company, [E\*TRADE from Morgan Stanley] and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom any shares of Common Stock acquired under the Plan may be deposited. Further, you understand that Data may be transferred to governmental authorities if the Company or your Employer determine that such transfer is necessary or advisable for purposes of complying with Applicable Laws.*

*You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request information about the storage and processing of Data, require any necessary amendments to Data, limit the processing of Data or refuse or withdraw the consents herein, in any case without cost, by contacting your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment or service with the Employer will not be affected; the only consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Restricted Stock Units or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative.*

P*rivasi Data.* Peruntukan ini menggantikan Seksyen 11.8 Terma-terma dan Syarat-syarat untuk peserta-peserta bukan-U.S. secara keseluruhannya:

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*Anda dengan ini secara eksplisit dan tanpa sebarang keraguan mengizinkan pengumpulan, penggunaan dan pemindahan, dalam bentuk elektronik atau lain-lain, data peribadi anda seperti yang diterangkan dalam Perjanjian ini dan apa-apa bahan pemberian Anugerah yang lain oleh dan di antara, seperti yang berkenaan, Majikan, Syarikat dan mana-mana Ahli Gabungan lain untuk tujuan eksklusif bagi melaksanakan, mentadbir dan menguruskan penyertaan anda di dalam Pelan.* 

*Anda memahami bahawa Syarikat dan Majikan mungkin memegang maklumat peribadi tertentu tentang anda, termasuk, tetapi tidak terhad kepada, nama anda, alamat rumah dan nombor telefon, alamat emel, tarikh lahir, nombor insurans sosial, pasport atau nombor pengenalan lain (seperti, nombor pendaftaran penduduk tetap atau nombor kad pengenalan), gaji, kewarganegaraan, jawatan, apa-apa syer Saham Biasa atau jawatan pengarah yang dipegang dalam Syarikat, butir-butir semua Anugerah atau apa-apa hak lain atas syer Saham Biasa atau faedah bersamaan yang dianugerahkan, dibatalkan, dibeli, dilaksanakan, terletak hak, tidak diletak hak ataupun yang belum dijelaskan bagi faedah anda ("Data"), untuk tujuan eksklusif bagi melaksanakan, mentadbir dan menguruskan Pelan tersebut. Data tersebut dibekalkan oleh Syarikat dan juga oleh anda melalui maklumat yang dikumpul berkaitan dengan Perjanjian dan Pelan.*

*Anda memahami bahawa Data ini akan dipindahkan kepada [E\*TRADE daripada Morgan Stanley] atau pembekal perkhidmatan pihak ketiga lain yang mungkin dipilih oleh Syarikat pada masa depan, yang membantu Syarikat dengan pelaksanaan, pentadbiran dan pengurusan Pelan. Pembekal perkhidmatan pihak ketiga tersebut mungkin termasuk penasihat undang-undang luar Syarikat serta juruaudit Syarikat. Anda memahami bahawa penerima-penerima Data mungkin berada di Amerika Syarikat atau mana-mana tempat lain, dan bahawa negara penerima-penerima mungkin mempunyai undang-undang privasi data dan perlindungan yang berbeza daripada negara anda. Anda memahami bahawa anda boleh meminta satu senarai yang mengandungi nama-nama dan alamat-alamat penerima-penerima Data yang berpotensi dengan menghubungi wakil sumber manusia tempatan anda, iaitu [Insert HR contact]. Anda memberi kuasa kepada Syarikat, [E\*TRADE daripada Morgan Stanley] dan mana-mana penerima-penerima lain yang mungkin membantu Syarikat (pada masa sekarang atau pada masa depan) dengan melaksanakan, mentadbir dan menguruskan Pelan untuk menerima, memiliki, menggunakan, mengekalkan dan memindahkan Data, dalam bentuk elektronik atau lain-lain, bagi tujuan tunggal melaksanakan, mentadbir dan menguruskan penyertaan anda di dalam Pelan, termasuk apa-apa pemindahan Data yang dikehendaki kepada broker, egen eskrow atau pihak ketiga dengan siapa sebarang syer Saham Biasa yang dibeli di bawah Pelan boleh didepositkan. Selanjutnya, anda memahami bahawa Data boleh dipindahkan kepada pihak berkuasa kerajaan jika Syarikat atau Majikan anda menentukan bahawa pemindahan tersebut diperlukan atau dinasihatkan untuk tujuan mematuhi Undang-undang Terpakai.*

*Anda memahami bahawa Data hanya akan disimpan selagi ia adalah diperlukan untuk melaksanakan, mentadbir, dan menguruskan penyertaan anda dalam Pelan. Anda memahami bahawa anda boleh, pada bila-bila masa, melihat Data, meminta maklumat mengenai penyimpanan dan pemprosesan Data, meminta mana-mana pindaan yang perlu ke atas Data, mengehadkan pemprosesan Data, atau menolak atau menarik balik persetujuan dalam ini, dalam mana-mana kes tanpa kos, dengan menghubungi wakil sumber manusia tempatan. Selanjutnya, anda memahami bahawa anda memberikan persetujuan di sini secara sukarela* 

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*semata-mata. Sekiranya anda tidak bersetuju, atau sekiranya anda kemudian membatalkan persetujuan anda, status pekerjaan atau perkhidmatan anda dengan Syarikat tidak akan terjejas; satu-satunya akibat sekiranya anda tidak bersetuju atau menarik balik persetujuan anda adalah bahawa Syarikat tidak akan dapat memberikan anda Unit Saham atau anugerah ekuiti lain atau mentadbir atau mengekalkan anugerah-anugerah tersebut. Oleh itu, anda memahami bahawa keengganan atau penarikan balik persetujuan anda boleh menjejaskan keupayaan anda untuk mengambil bahagian dalam Pelan. Untuk maklumat lebih lanjut mengenai akibat-akibat keengganan anda untuk memberikan keizinan atau penarikan balik keizinan, anda memahami bahawa anda boleh menghubungi wakil sumber manusia tempatan.* 

***Notifications***

<u>Director Notification Obligation</u>

Director Notification Obligation. If Participant is a director of a Malaysian Subsidiary, Participant is subject to certain notification requirements under the Malaysian Companies Act, 2016. Among these requirements is an obligation to notify the Malaysian Subsidiary in writing when Participant receives or disposes of an interest (*e.g.*, an Award under the Plan or shares of Common Stock) in the Company or any related company. Such notifications must be made within 14 days of receiving or disposing of any interest in the Company or any related company.

**<u>THE NETHERLANDS</u>**

No country-specific provisions apply.

**<u>POLAND</u>**

***Notifications***

<u>Exchange Control Information</u>. Polish residents holding cash and foreign securities (including shares of Common Stock) in bank or brokerage accounts outside of Poland must report information to the National Bank of Poland on transactions and balances in such accounts if the value of such cash and securities exceeds a certain threshold (currently, PLN 7 million). If required, such reports must be filed on special forms available on the website of the National Bank of Poland. Participant should consult with Participant's personal legal advisor to determine whether Participant will be required to submit reports to the National Bank of Poland.

Further, any transfer of funds in excess of a certain threshold (currently, €15,000, or PLN 15,000 if such transfer of funds is connected with business activity of an entrepreneur) into or out of Poland must be effected through a bank account in Poland. All documents connected with any foreign exchange transactions must be retained for a period of five years from the end of the year in which the transaction occurred.

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**<u>SPAIN</u>**

***Terms and Conditions***

<u>Labor Law Acknowledgment</u>.

By accepting the RSUs, Participant consents to participate in the Plan and acknowledges that Participant has received a copy of the Plan.

Participant understands that the Company has unilaterally, gratuitously and in its sole discretion decided to grant the RSUs under the Plan to individuals who may be Employees, Consultants, Directors, or Non-Employee Directors of the Company or any parent, Subsidiary or affiliate throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any parent, Subsidiary or affiliate. Consequently, Participant understands that the RSUs are granted on the assumption and condition that the RSUs and the Shares issued upon settlement of the RSUs shall not become a part of any employment or service agreement (either with the Company or any parent, Subsidiary or affiliate) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever.

As a condition of the grant of the RSUs, unless otherwise provided by the Company or in the Agreement, Participant's Termination of Service will generally automatically result in the forfeiture and loss of the Shares subject to the unvested portion of the RSUs. In particular, and without limitation to the provisions of the Plan, Participant understands and agrees that any unvested portion of the RSUs as of the date of Participant's Termination of Service will be cancelled without entitlement to the underlying Shares or to any amount as indemnification if Participant terminates Service by reason of, including, but not limited to, resignation, retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without cause (i.e., subject to a "despido improcedente"), individual or collective dismissal on objective grounds, whether adjudged or recognized to be with or without cause, material modification of the terms of employment under Article 41 of the Workers' Statute, relocation under Article 40 of the Workers' Statute, and/or Article 50 of the Workers' Statute, unilateral withdrawal by the Service Recipient and under Article 10.3 of the Royal Decree 1382/1985.

Finally, Participant understands that the grant of the RSUs would not be made to Participant but for the assumptions and conditions referred to herein; thus, Participant acknowledges and freely accepts that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the grant of the RSUs shall be null and void.

***Notifications***

<u>Securities Law Information</u>. No "offer of securities to the public," as defined under Spanish law, has taken place or will take place in the Spanish territory. The Agreement and the Plan have not been nor will they be registered with the Comisión Nacional del Mercado de Valores (the

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Spanish securities regulator), and none of these documents constitutes a public offering prospectus.

<u>Exchange Control Information</u>. Participant is required to declare electronically to the Bank of Spain any securities accounts (including brokerage accounts held abroad), as well as the Shares held in such accounts if the value of the transactions during the prior tax year or the balances in such accounts as of December 31 of the prior tax year exceed EUR 1,000,000.

**<u>UNITED KINGDOM</u>**

***Terms and Conditions***

<u>Definitions</u>. The phrases "termination of service" or "termination of employment" as used in the Plan and the Agreement shall mean Participant's Termination of Employment. For this purpose, "***Termination of Employment***" means the time when the employee-employer relationship between Participant and the Company or any subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding terminations where there is a simultaneous reemployment or continuing employment of Participant by the Company or any subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to a Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment.

<u>Participants</u>. The Agreement as amended by this Appendix forms the rules of the employee share scheme applicable to the United Kingdom-based Participants of the Company and any subsidiaries. Only employees of the Company or any Subsidiary are eligible to be granted RSUs or be issued Shares under the Agreement. Other Service Providers (including consultants or non-employee directors) who are not employees are not eligible to receive RSUs under the Agreement in the United Kingdom. The Agreement incorporates the terms of the Plan with the exception that reference to "Service Provider" when used in the Plan (as incorporated into this Agreement) and in the Agreement itself shall mean employee of the Company or any Subsidiary only and shall not include other persons providing services to the Company or any Subsidiary. Accordingly, all references in the Agreement to Participant's "Service" or "Termination of Service" shall be interpreted as references to Participant's employment or Termination of Employment.

<u>Not a Contract of Employment</u>. Nothing in the Agreement or in the Plan shall confer upon Participant any right to continue to serve as an employee of the Company or any of its subsidiaries and the grant of the RSUs does not form part of Participant's entitlement to remuneration or benefits in terms of his employment with the Company or any subsidiary.

<u>Tax Obligations</u>. The following provision supplements Section 2.6 of the Agreement:

<u>Tax and National Insurance Contributions Acknowledgment</u>. Participant agrees that Participant is liable for the full amount of all U.S. and non-U.S. federal, state and/or local taxes (including,

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without limitation, income tax, withholding tax, social security contributions, fringe benefit tax, employment tax, stamp tax, including employee's National Insurance contributions ("***NICs***") and (at the discretion of the Company) employer's NICs (or other similar obligations wherever in the world arising)) applicable to the taxable income resulting from the grant of the RSUs, the settlement of the RSUs, or the issuance of Shares (the "***Tax-Related Items***") that is attributable to (1) the grant or settlement of, or any benefit derived by Participant from, the RSUs or the Shares which are the subject of the RSUs; (2) the transfer or issuance of Shares on the settlement of the RSUs; (3) any restrictions applicable to any Shares held by Participant ceasing to apply thereto; or (4) the disposal of any Shares (each a "***Taxable Event***") and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or a Subsidiary or His Majesty's Revenue and Customs ("***HMRC***") (or any other tax authority or relevant authority). Participant also agrees to indemnify and keep indemnified the Company, any subsidiary and his/her employing company (the "***Employer***") if different, against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on Participant's behalf that is attributable to a Taxable Event.

The RSUs cannot be settled until Participant has made such arrangements as the Company may require for the satisfaction of any Tax-Related Items that may arise in connection with the vesting and settlement of the RSUs and/or the acquisition of Shares by Participant. The Company shall not be required to issue, allot or transfer Shares until Participant has satisfied this obligation.

Participant undertakes that, upon request by the Company, he or she will (on or within 14 days of acquiring the Shares) join with his or her Employer in electing, pursuant to Section 431(1) of the Income Tax (Earnings and Pensions) Act 2003 ("***ITEPA***") that, for relevant tax purposes, the market value of the Shares acquired on settlement of the RSUs on any occasion will be calculated as if the Shares were not restricted and Sections 425 to 430 (inclusive) of ITEPA are not to apply to such Shares.

Participant agrees that if Participant does not pay or Participant's Employer or the Company or a subsidiary does not withhold from Participant the full amount of all Tax-Related Items that Participant owes due to any Taxable Event within 90 days after the end of the tax year in which the Taxable Event occurred or such other period in Section 22 2(1)(c) of ITEPA, then the amount that should have been withheld shall constitute a loan owed by Participant to the Employer, effective 90 days after the end of the tax year in which the Taxable Event occurred. Participant agrees that the loan will bear interest at the HMRC's official rate and will be immediately due and repayable by Participant, and the Company and/or the Employer may recover it at any time thereafter by withholding the funds from salary, bonus or any other funds due to Participant by the Employer, by withholding in Shares issued upon vesting and settlement of the RSUs or from the cash proceeds from the sale of Shares or by demanding cash or a cheque from Participant. Participant also authorizes the Company to delay the issuance of any Shares to Participant unless and until the loan is repaid in full.

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Notwithstanding the foregoing, if Participant is an officer or executive director (as within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply in case the indemnification is viewed as a loan. In the event that Participant is an officer or executive director and Tax-Related Items are not collected from or paid by Participant within 90 days of the end of the tax year in which the Taxable Event occurred, the amount of any uncollected Tax-Related Items may constitute a benefit to Participant on which additional income tax and NICs may be payable. Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company and/or a subsidiary (as appropriate) for the value of NICs due on this additional benefit which the Company and/or a Subsidiary may collect by any of the means referred to in Section 10.5 of the Plan.

<u>Data Protection.</u> The Company and the Service Recipient will collect and process information relating to Participant in accordance with any applicable data privacy notice and applicable data protection laws.

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**<u>Exhibit 1 (for German Participants)</u>**

**PRIVACY NOTICE** 

The entity responsible for processing your personal data (*i.e.*, the "**Controller**") for the purpose of allocating and sharing Awards as described in the This Agreement, dated [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] 2026 (the "**Grant Letter**") and the Plan is Neutron Holdings, Inc., having its registered office at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], United States of America (the "**Company**"). The present privacy notice (the "**Notice**") provides for information in relation to the processing of your personal data in this context.

**1. WHAT PERSONAL DATA DOES THE COMPANY PROCESS ABOUT YOU?**

a.Some of the personal data is collected directly from you. Other personal data is provided to the Company by other group companies.

b.The personal data the Company collects about you may include (i) identification data such as your name, address and telephone number, birthdate, social security/insurance number or other identification number, salary, nationality, (ii) job title, department, as well as related information, *e.g.*, employee ID number, (iii) your bank account details, and (iv) details regarding your Awards and other information relating to the Plan and this Agreement.

c.The Company requires your personal data for business and accounting purposes. Refusal to provide personal data requested could lead to the impossibility for the Company to proceed with any matters relating to the Plan and the This Agreement, including the allocation, award and any payments relating to your awards.

**2. HOW DOES THE COMPANY PROCESS YOUR PERSONAL DATA?**

a.The Company processes your personal data only for legitimate purposes, including (i) to implement, administer and manage the Plan and the This Agreement and in order to proceed with the allocation, award and any payments relating to your awards, and (ii) to comply with accounting requirements.

b.The Company does not keep your personal data for longer than is necessary to fulfil the purposes above – unless statutory retention obligations and/or legitimate interests may require a longer storage. This may include the defense and assertion of legal claims.

c.No automated decision making or profiling is conducted in the context of the Plan and the This Agreement.

**3. DOES THE COMPANY DISCLOSE YOUR PERSONAL DATA TO OTHER PARTIES?**

a.The Company may disclose your personal data, where reasonably necessary and in accordance with applicable law for the purposes set out in clause 2 above, including to (i) other entities within the group, (ii) accountants, auditors, legal advisors, (iii) services providers such as payroll administrators and benefits advisors, and (iv) third parties to whom the Company is required to disclose information by law or regulatory requirement (including authorities and litigation counterparties).

b.If your personal data should be transferred to countries outside the European Union / the European Economic Area, the Company will apply appropriate safeguards to secure such transfers.

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**4. WHAT RIGHTS DO YOU HAVE?**

a.You have certain rights in relation to your personal data. Please note that these may vary depending on the right and circumstances of its assertion.

V.2the right to access your personal data and ask for a copy of your processed personal data;

V.3the right to have incomplete or inaccurate personal data corrected;

V.4the right to object to the use of your personal data, or to withdraw your consent (where processing is based on your prior consent);

V.5the right to restrict the use of your personal data;

V.6the right to require the Company to erase/delete your personal data;

V.7the right to receive personal data which you have provided to the Company in a structured, commonly used and machine-readable format and the right to transmit those data to another data controller;

V.8the right to lodge a complaint with the competent data protection authority.

b.If you wish to exercise any of these rights or have other questions about how the Company processes your personal data, you can email [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].

## Exhibit 10.3

**Exhibit 10.3**

**NEUTRON HOLDINGS, INC.**

**2026 EMPLOYEE STOCK PURCHASE PLAN**

**ARTICLE 1**

**PURPOSE**

The Plan's purpose is to assist employees of the Company and its Designated Subsidiaries in acquiring a stock ownership interest in the Company, and to help such employees provide for their future security and to encourage them to remain in the employment of the Company and its Subsidiaries.

The Plan consists of two components: the Section 423 Component and the Non-Section 423 Component. The Section 423 Component is intended to qualify as an "employee stock purchase plan" under Section 423 of the Code and shall be administered, interpreted and construed in a manner consistent with the requirements of Section 423 of the Code. In addition, this Plan authorizes the grant of Options under the Non-Section 423 Component, which need not qualify as Options granted pursuant to an "employee stock purchase plan" under Section 423 of the Code; such Options granted under the Non-Section 423 Component shall be granted pursuant to separate Offerings containing such sub-plans, appendices, rules or procedures as may be adopted by the Administrator and designed to achieve tax, securities laws or other objectives for Eligible Employees and the Designated Subsidiaries but shall not be intended to qualify as an "employee stock purchase plan" under Section 423 of the Code. Except as otherwise provided herein or determined by the Administrator, the Non-Section 423 Component will operate and be administered in the same manner as the Section 423 Component. Offerings intended to be made under the Non-Section 423 Component will be designated as such by the Administrator at or prior to the time of such Offering.

For purposes of this Plan, the Administrator may designate separate Offerings under the Plan, the terms of which need not be identical, in which Eligible Employees will participate, even if the dates of the applicable Offering Period(s) in each such Offering is identical, provided that the terms of participation are the same within each separate Offering under the Section 423 Component as determined under Section 423 of the Code. Solely by way of example and without limiting the foregoing, the Company could, but shall not be required to, provide for simultaneous Offerings under the Section 423 Component and the Non-Section 423 Component of the Plan.

**ARTICLE 2**

**DEFINITIONS**

As used in the Plan, the following words and phrases have the meanings specified below, unless the context clearly indicates otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;"***Administrator***" means the Committee, or such individuals to which authority to administer the Plan has been delegated under Section 7.1 hereof.

2.2&nbsp;&nbsp;&nbsp;&nbsp;"***Agent***" means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan.

2.3&nbsp;&nbsp;&nbsp;&nbsp;"***Board***" means the Board of Directors of the Company.

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2.4&nbsp;&nbsp;&nbsp;&nbsp;"***Code***" means the U.S. Internal Revenue Code of 1986, as amended, and all regulations, guidance, compliance programs and other interpretative authority issued thereunder.

2.5&nbsp;&nbsp;&nbsp;&nbsp;"***Committee***" means the Compensation Committee of the Board.

2.6&nbsp;&nbsp;&nbsp;&nbsp;"***Common Stock***" means the common stock of the Company.

2.7&nbsp;&nbsp;&nbsp;&nbsp;"***Company***" means Neutron Holdings, Inc., a Delaware corporation, or any successor.

2.8&nbsp;&nbsp;&nbsp;&nbsp;"***Compensation***" of an Employee means the regular earnings or base salary paid to the Employee from the Company on each Payday as compensation for services to the Company or any Designated Subsidiary, before deduction for any salary deferral contributions made by the Employee to any tax-qualified or nonqualified deferred compensation plan, including overtime, shift differentials, vacation pay, salaried production schedule premiums, holiday pay, jury duty pay, funeral leave pay, paid time off, military pay and prior week adjustments, but excluding bonuses and commissions, meal and rest break premiums under California state law or similar amounts paid in accordance with applicable law of any other jurisdiction, education or tuition reimbursements, imputed income arising under any group insurance or benefit program, travel expenses, business and moving reimbursements, including tax gross ups and taxable mileage allowance, income received in connection with any stock options, restricted stock, restricted stock units or other compensatory equity awards and all contributions made by the Company or any Designated Subsidiary for the Employee's benefit under any employee benefit plan now or hereafter established. For any Participants in non-U.S. jurisdictions, the Administrator shall have the discretion to determine the application of this definition. Compensation shall be calculated before deduction of any income or employment tax withholdings, but such amounts shall be withheld from the Employee's net income.

2.9&nbsp;&nbsp;&nbsp;&nbsp;"***Designated Beneficiary***" means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant's rights if the Participant dies or becomes incapacitated. Without a Participant's effective designation, "Designated Beneficiary" will mean the Participant's estate.

2.10&nbsp;&nbsp;&nbsp;&nbsp;"***Designated Subsidiary***" means each Subsidiary, including any Subsidiary in existence on the Effective Date and any Subsidiary formed or acquired following the Effective Date, that has been designated by the Board or Committee from time to time in its sole discretion as eligible to participate in the Plan, in accordance with Section 7.2 hereof, such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component. A Designated Subsidiary may participate in either the Section 423 Component or Non-Section 423 Component, but not both; *provided* that a Subsidiary that, for U.S. tax purposes, is disregarded from the Company or any Subsidiary that participates in the Section 423 Component shall automatically constitute a Designated Subsidiary that participates in the Section 423 Component. The designation by the Administrator of Designated Subsidiaries and changes in such designations by the Administrator shall not require stockholder approval. Only Subsidiary Corporations may be designated as Designated Subsidiaries for purposes of the Section 423 Component, and if an entity does not so qualify, it shall automatically be deemed to constitute a Designated Subsidiary that participates in the Non-Section 423 Component.

2.11&nbsp;&nbsp;&nbsp;&nbsp;"***Effective Date***" means the date immediately prior to the date the Company's registration statement relating to its initial public offering becomes effective, *provided* that the Board has approved the Plan prior to or on such date, subject to approval of the Plan by the Company's stockholders.

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2.12&nbsp;&nbsp;&nbsp;&nbsp;"***Eligible Employee***" means, except as otherwise provided by the Administrator or in an Offering Document, an Employee:

(a)&nbsp;&nbsp;&nbsp;&nbsp;who is customarily scheduled to work at least 20 hours per week;

(b)&nbsp;&nbsp;&nbsp;&nbsp;whose customary employment is more than five months in a calendar year; and

(c)&nbsp;&nbsp;&nbsp;&nbsp;who, after the granting of the Option, would not be deemed for purposes of Section 423(b)(3) of the Code to possess 5% or more of the total combined voting power or value of all classes of stock of the Company or any Subsidiary.

For purposes of clause (c), the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock which an Employee may purchase under outstanding options shall be treated as stock owned by the Employee.

Notwithstanding the foregoing, the Administrator may exclude from participation in the Section 423 Component as an Eligible Employee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;any Employee that is a "highly compensated employee" of the Company or any Designated Subsidiary (within the meaning of Section 414(q) of the Code), or that is such a "highly compensated employee" (A) with compensation above a specified level, (B) who is an officer or (C) who is subject to the disclosure requirements of Section 16(a) of the Exchange Act; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;any Employee who is a citizen or resident of a foreign jurisdiction (without regard to whether they are also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (A) the grant of the Option is prohibited under the laws of the jurisdiction governing such Employee, or (B) compliance with the laws of the foreign jurisdiction would cause the Section 423 Component, any Offering thereunder or an Option granted thereunder to violate the requirements of Section 423 of the Code;

*provided* that any exclusion in clauses (x) or (y) shall be applied in an identical manner under each Offering to all Employees of the Company and all Designated Subsidiaries, in accordance with Treas. Reg. § 1.423-2(e). Notwithstanding the foregoing, with respect to the Non-Section 423 Component, the first sentence in this definition shall apply in determining who is an "Eligible Employee," except (a) the Administrator may limit eligibility further within the Company or a Designated Subsidiary so as to only designate some Employees of the Company or a Designated Subsidiary as Eligible Employees, and (b) to the extent the restrictions in the first sentence in this definition are not consistent with applicable local laws, the applicable local laws shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;"***Employee***" means an individual who renders services to the Company or a Designated Subsidiary in the status of an employee, and, with respect to the Section 423 Component, a person who is an officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company or any Designated Subsidiary. The Company shall determine in good faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee and the effective date of such individual's attainment or termination of such status. For purposes of an individual's participation in, or other rights under the Plan, all such determinations by the Company shall be final, binding and conclusive, notwithstanding that any court of law or governmental agency subsequently makes a contrary determination. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or a Designated Subsidiary (which, for purposes of the Section 423 Component, must meet the

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requirements of Treas. Reg. § 1.421-7(h)(2)). For purposes of the Section 423 Component, where the period of an approved leave of absence exceeds three months, or such other period specified in Treas. Reg. § 1.421-1(h)(2), and the individual's right to reemployment is not provided either by statute or contract, the employment relationship shall be deemed to have terminated for purposes of the Plan on the first day immediately following such three-month period, or such other period specified in Treas. Reg. § 1.421-1(h)(2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;"***Enrollment Date***" means the first date of each Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;"***Exchange Act***" means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;"***Exercise Date***" means the last Trading Day of each Purchase Period, except as provided in Section 5.2 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17&nbsp;&nbsp;&nbsp;&nbsp;"***Fair Market Value***" means, as of any date, the value of Common Stock determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock is (i) listed on any established securities exchange (such as the New York Stock Exchange or Nasdaq Stock Market), (ii) listed on any national market system or (iii) listed, quoted or traded on any automated quotation system, its Fair Market Value shall be the closing sales price for a share of Common Stock as quoted on such exchange or system for such date or, if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Common Stock on the last preceding date for which such quotation exists, as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock is not listed on an established securities exchange, national market system or automated quotation system, but the Common Stock is regularly quoted by a recognized securities dealer, its Fair Market Value shall be the mean of the high bid and low asked prices for such date or, if there are no high bid and low asked prices for a share of Common Stock on such date, the high bid and low asked prices for a share of Common Stock on the last preceding date for which such information exists, as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock is neither listed on an established securities exchange, national market system or automated quotation system nor regularly quoted by a recognized securities dealer, its Fair Market Value shall be established by the Administrator in good faith (and, with respect to the initial Offering Period of the Plan, as set forth in the Offering Document for the initial Offering Period).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18&nbsp;&nbsp;&nbsp;&nbsp;"***Grant Date***" means the first Trading Day of an Offering Period (or, with respect to the initial Offering Period of the Plan, such date set forth in the Offering Document approved by the Administrator with respect to the initial Offering Period).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19&nbsp;&nbsp;&nbsp;&nbsp;"***New Exercise Date***" has the meaning set forth in Section 5.2(b) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;"***Non-Section 423 Component***" means those Offerings under the Plan, together with the sub-plans, appendices, rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which Options may be granted to Eligible Employees that need not satisfy the requirements for Options granted pursuant to an "employee stock purchase plan" that are set forth under Section 423 of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21&nbsp;&nbsp;&nbsp;&nbsp;"***Offering***" means an offer under the Plan of an Option that may be exercised during an Offering Period as further described in Article 4 hereof. Unless otherwise specified by the Administrator, each Offering to the Eligible Employees of the Company or a Designated Subsidiary shall be deemed a separate Offering, even if the dates and other terms of the applicable Offering Periods of each such Offering are identical and the provisions of the Plan will separately apply to each Offering. To the extent permitted by Treas. Reg. § 1.423-2(a)(1), the terms of each separate Offering under the Section 423 Component need not be identical, provided that the terms of the Section 423 Component and an Offering thereunder together satisfy Treas. Reg. § 1.423-2(a)(2) and (a)(3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22&nbsp;&nbsp;&nbsp;&nbsp;"***Offering Period***" means such period of time commencing on such date(s) as determined by the Board or Committee, in its discretion, and with respect to which Options shall be granted to Participants. The duration and timing of Offering Periods may be established or changed by the Board or Committee at any time, in its sole discretion. Notwithstanding the foregoing, in no event may an Offering Period exceed 27 months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23&nbsp;&nbsp;&nbsp;&nbsp;"***Option***" means the right to purchase shares of Common Stock pursuant to the Plan during each Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24&nbsp;&nbsp;&nbsp;&nbsp;"***Option Price***" means the purchase price of a share of Common Stock hereunder as provided in Section 4.2 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25&nbsp;&nbsp;&nbsp;&nbsp;"***Parent***" means any entity that is a parent corporation of the Company within the meaning of Section 424 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26&nbsp;&nbsp;&nbsp;&nbsp;"***Participant***" means any Eligible Employee who elects to participate in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27&nbsp;&nbsp;&nbsp;&nbsp;"***Payday***" means the regular and recurring established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28&nbsp;&nbsp;&nbsp;&nbsp;"***Plan***" means this 2026 Employee Stock Purchase Plan, including both the Section 423 Component and Non-Section 423 Component and any other sub-plans or appendices hereto, as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29&nbsp;&nbsp;&nbsp;&nbsp;"***Plan Account***" means a bookkeeping account established and maintained by the Company in the name of each Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30&nbsp;&nbsp;&nbsp;&nbsp;"***Purchase Period***" means such period of time commencing on such dates as determined by the Board or Committee, in its discretion, within each Offering Period. The duration and timing of Purchase Periods may be established or changed by the Board or Committee at any time, in its sole discretion. Notwithstanding the foregoing, in no event may a Purchase Period exceed the duration of the Offering Period under which it is established.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31&nbsp;&nbsp;&nbsp;&nbsp;"***Section 409A***" means Section 409A of the Code and the regulations promulgated thereunder by the United States Treasury Department, as amended or as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32&nbsp;&nbsp;&nbsp;&nbsp;"***Section 423 Component***" means those Offerings under the Plan that are intended to meet the requirements under Section 423(b) of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33&nbsp;&nbsp;&nbsp;&nbsp;"***Subsidiary***" means (a) any Subsidiary Corporation, and (b) with respect to any Offering pursuant to the Non-Section 423 Component only, Subsidiary may also include any corporate or noncorporate entity in which the Company has a direct or indirect equity interest or significant business relationship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34&nbsp;&nbsp;&nbsp;&nbsp;"***Subsidiary Corporation***" shall mean any corporation, other than the Company, in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain, or any other entity that is a subsidiary corporation of the Company within the meaning of Section 424 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35&nbsp;&nbsp;&nbsp;&nbsp;"***Trading Day***" means a day on which national stock exchanges in the United States are open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36&nbsp;&nbsp;&nbsp;&nbsp;"***Treas. Reg.***" means U.S. Department of the Treasury regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37&nbsp;&nbsp;&nbsp;&nbsp;"***Withdrawal Election***" has the meaning set forth in Section 6.1(a) hereof.

**ARTICLE 3**

**PARTICIPATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Eligibility</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any Eligible Employee who is employed by the Company or a Designated Subsidiary on a given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles 4 and 5 hereof, and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code.

&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)&nbsp;&nbsp;&nbsp;&nbsp;No Eligible Employee shall be granted an Option under the Section 423 Component which permits the Participant's rights to purchase shares of Common Stock under the Plan, and to purchase stock under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to Section 423 of the Code, to accrue at a rate which exceeds $25,000 of fair market value of such stock (determined at the time such Option is granted) for each calendar year in which such Option is outstanding at any time. The limitation under this Section 3.1(b) shall be applied in accordance with Section 423(b)(8) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Election to Participate; Payroll Deductions</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in Sections 3.2(e) and 3.3 hereof or in an applicable Offering Document, an Eligible Employee may become a Participant in the Plan only by means of payroll deduction. Each individual who is an Eligible Employee as of an Offering Period's Enrollment Date may elect to participate in such Offering Period and the Plan by delivering to the Company a payroll deduction authorization no later than the period of time prior to the applicable Enrollment Date that is determined by the Administrator, in its sole discretion.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 3.1(b) hereof and except as may otherwise be determined by the Administrator and/or as set forth in the Offering Document, payroll deductions (i) shall equal at least 1% of the Participant's Compensation as of each Payday of the Offering Period following the Enrollment Date, but not more than 15% of the Participant's Compensation as of each Payday of the Offering Period

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following the Enrollment Date; and (ii) will be expressed as a whole number percentage. Amounts deducted from a Participant's Compensation with respect to an Offering Period pursuant to this Section 3.2 shall be deducted each Payday through payroll deduction and credited to the Participant's Plan Account; *provided* that for the first Offering Period, payroll deductions shall not begin until such date determined by the Administrator, in its sole discretion; *provided further* that, in no event shall the actual amount withheld on any Payday hereunder exceed the net amount payable to the Eligible Employee on such Payday after taxes and any other applicable deductions therefrom (and if amounts to be withheld hereunder would otherwise result in a negative payment to the Eligible Employee on such Payday, the amount to be withheld hereunder shall instead be reduced by the least amount necessary to avoid a negative payment amount for the Eligible Employee on such Payday, as determined by the Administrator).

&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)&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise determined by the Administrator and/or as set forth in the Offering Document, following at least one payroll deduction, a Participant may decrease (to as low as zero) the amount deducted from such Participant's Compensation only once during an Offering Period upon ten calendar days' prior written notice to the Company. Unless otherwise determined by the Administrator and/or as set forth in the Offering Document, a Participant may not increase the amount deducted from such Participant's Compensation during an Offering Period. If a Participant suspends his or her payroll deductions during an Offering Period: (i) such Participant's cumulative unapplied payroll deductions prior to the suspension (if any) shall remain in his or her account and shall be applied to the purchase of Shares on the next occurring Purchase Date, and (ii) such Participant shall be deemed to have withdrawn from the Offering Period for all purposes upon such Purchase Date (and shall be eligible to enroll in any Offering Period commencing on or after such Purchase Date if he or she remains an Eligible Employee as of the start of any such subsequent Offering Period and timely submits a valid election to participate). For clarity, if a Participant who suspends participation in an Offering Period ceases to be an Eligible Employee or he or she withdraws from participation in such Offering Period, in either case, prior to the Purchase Date next-following his or her suspension of participation in the Offering Period, in any case, such Participant's cumulative unapplied payroll deductions shall be returned to him or her in accordance with Article 6 hereof. 

&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)&nbsp;&nbsp;&nbsp;&nbsp;Upon the completion of an Offering Period, each Participant in such Offering Period shall automatically participate in the immediately following Offering Period at the same payroll deduction percentage as in effect at the termination of such Offering Period, unless such Participant delivers to the Company a different election with respect to the successive Offering Period in accordance with Section 3.2(a) hereof, or unless such Participant becomes ineligible for participation in the Plan. Such Participant will be deemed to have accepted the terms and conditions of the Plan, the applicable Offering Document, any sub-plan, enrollment form, subscription agreement and/or any other terms and conditions of participation in effect at the time each subsequent Offering Period begins.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provisions of the Plan to the contrary, in non-U.S. jurisdictions where participation in the Plan through payroll deductions is prohibited, the Administrator may provide that an Eligible Employee may elect to participate through contributions to the Participant's account under the Plan in a form acceptable to the Administrator in lieu of or in addition to payroll deductions; provided, however, that, for any Offering under the Section 423 Component, the Administrator must determine that any alternative method of contribution is applied on an equal and uniform basis to all Eligible Employees in the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;To determine which Designated Subsidiaries shall participate in the Non-Section

423 Component and which shall participate in the Section 423 Component.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Leave of Absence</u>. During leaves of absence approved by the Company, which in the case of the Section 423 Component meets the requirements of Treas. Reg. § 1.421-1(h)(2), a Participant may continue participation in the Plan by making cash payments to the Company on the Participant's normal payday equal to the Participant's authorized payroll deduction.

**ARTICLE 4**

**PURCHASE OF SHARES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant of Option</u>. The Company may make one or more Offerings under the Plan, which may be successive or overlapping with one another, until the earlier of: (i) the date on which the shares of Common Stock available under the Plan have been sold or (ii) the date on which the Plan is suspended or terminates. The Administrator shall designate the terms and conditions of each Offering in writing, including without limitation, the Offering Period and the Purchase Periods, as set forth in an offering document (the "***Offering Document***"). Each Participant shall be granted an Option with respect to an Offering Period on the applicable Grant Date. Subject to the limitations of Section 3.1(b) hereof, the number of shares of Common Stock subject to a Participant's Option shall be determined by dividing (a) such Participant's payroll deductions accumulated prior to an Exercise Date and retained in the Participant's Plan Account on such Exercise Date by (b) the applicable Option Price; *provided* that, unless otherwise set forth in the Offering Document, in no event shall a Participant be permitted to purchase during each Offering Period more than 2,000shares of Common Stock (subject to any adjustment pursuant to Section 5.2 hereof). The Administrator and/or the Offering Document may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a Participant may purchase during such future Offering Periods. Each Option shall expire on the last Exercise Date for the applicable Offering Period immediately after the automatic exercise of the Option in accordance with Section 4.3 hereof, unless such Option terminates earlier in accordance with Article 6 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Option Price</u>. The "***Option Price***" per share of Common Stock to be paid by a Participant upon exercise of the Participant's Option on an Exercise Date for an Offering Period shall equal 85% of the lesser of the Fair Market Value of a share of Common Stock on (a) the applicable Grant Date and (b) the applicable Exercise Date, or such other price designated by the Administrator; *provided* that in no event shall the Option Price per share of Common Stock be less than the par value per share of the Common Stock; *provided further*, that no Option Price shall be designated by the Administrator that would cause the Section 423 Component to fail to meet the requirements under Section 423(b) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase of Shares</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;On each Exercise Date for an Offering Period, each Participant shall automatically and without any action on such Participant's part be deemed to have exercised the Participant's Option to purchase at the applicable per share Option Price the largest number of whole shares of Common Stock which can be purchased with the amount in the Participant's Plan Account. Except as may otherwise be provided by the Administrator with respect to any Offering and/or as set forth in the Offering Document, any balance less than the per share Option Price that is remaining in the Participant's Plan Account (after exercise of such Participant's Option) as of the Exercise Date shall be carried forward to the next Purchase Period or Offering Period, unless the Participant has elected to withdraw from the Plan pursuant to Section 6.1 hereof or, pursuant to Section 6.2 hereof, such Participant has ceased to be an Eligible Employee. Any balance not carried forward to the next Purchase

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Period or Offering Period in accordance with the prior sentence shall be promptly refunded to the applicable Participant. In no event shall an amount greater than or equal to the per share Option Price as of an Exercise Date be carried forward to the next Purchase Period or Offering Period.

&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)&nbsp;&nbsp;&nbsp;&nbsp;As soon as practicable following each Exercise Date, the number of shares of Common Stock purchased by such Participant pursuant to Section 4.3(a) hereof shall be delivered (either in share certificate or book entry form), in the Company's sole discretion, to either (i) the Participant or (ii) an account established in the Participant's name at a stock brokerage or other financial services firm designated by the Company. If the Company is required to obtain from any commission or agency authority to issue any such shares of Common Stock, the Company shall seek to obtain such authority. Inability of the Company to obtain from any such commission or agency authority which counsel for the Company deems necessary for the lawful issuance of any such shares shall relieve the Company from liability to any Participant except to refund to the Participant such Participant's Plan Account balance, without interest thereon. The Company may require that such shares of Common Stock be retained with a particular Agent for a designated period of time and/or may establish other procedures to permit tracking of qualifying and disqualifying dispositions of such shares of Common Stock or to otherwise facilitate compliance with applicable law or the administration of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Termination of Offering Period</u>. If the Fair Market Value of a share of Common Stock on any Exercise Date (except the final scheduled Exercise Date of any Offering Period) is lower than the Fair Market Value of a share of Common Stock on the Grant Date for an Offering Period, then such Offering Period shall terminate on such Exercise Date after the automatic exercise of the Option in accordance with Section 4.3 hereof, and each Participant shall automatically be enrolled in the Offering Period that commences immediately following such Exercise Date and such Participant's payroll deduction authorization shall remain in effect for such Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferability of Rights</u>. An Option granted under the Plan shall not be transferable, other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant's lifetime only by the Participant. No option or interest or right to the Option shall be available to pay off any debts, contracts or engagements of the Participant or the Participant's successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempt at disposition of the Option shall have no effect.

**ARTICLE 5**

**PROVISIONS RELATING TO COMMON STOCK**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Common Stock Reserved</u>. Subject to adjustment as provided in Section 5.2 hereof, the maximum number of shares of Common Stock that shall be made available for sale under the Plan shall be the sum of (a) 640,259 and (b) an increase commencing on January 1, 2027 and continuing annually on the anniversary thereof through (and including) January 1, 2036, equal to the lesser of (A) 1% of the shares of all classes of the Company's common stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (B) such smaller number of shares of Common Stock as determined by the Board or the Committee; *provided, however*, no more than 1,920,778 Shares may be issued under the Plan. Shares made available for sale under the Plan may be authorized but unissued shares, treasury shares of Common Stock, or reacquired shares reserved for issuance under the Plan. All or any portion of such maximum number of shares may be issued under the Section 423 Component.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset</u> <u>Sale</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Changes in Capitalization</u>. Subject to any required action by the stockholders of the Company, the class(es) and number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under Option, as well as the price per share and the class(es) and number of shares of Common Stock covered by each Option under the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; *provided*, *however*, that conversion of any convertible securities of the Company shall not be deemed to have been "effected without receipt of consideration." Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company, the Offering Periods then in progress shall be shortened by setting a new Exercise Date (the "***New Exercise Date***"), and shall terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company's proposed dissolution or liquidation. The Administrator shall notify each Participant in writing prior to the New Exercise Date, that the Exercise Date for the Participant's Option has been changed to the New Exercise Date and that the Participant's Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Merger or Asset Sale</u>. In the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. If the successor corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on the New Exercise Date. The New Exercise Date shall be before the date of the Company's proposed sale or merger. The Administrator shall notify each Participant in writing prior to the New Exercise Date, that the Exercise Date for the Participant's Option has been changed to the New Exercise Date and that the Participant's Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Adjustment Under Certain Circumstances</u>. Unless determined otherwise by the Administrator, no adjustment or action described in this Article 5 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Section 423 Component of the Plan to fail to satisfy the requirements of Section 423 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Insufficient Shares</u>. If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which Options are to be exercised may exceed the

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number of shares of Common Stock remaining available for sale under the Plan on such Exercise Date, the Administrator shall make a pro rata allocation of the shares of Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants exercising Options to purchase Common Stock on such Exercise Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods shall take place and the Plan shall terminate pursuant to Section 7.5 hereof. If an Offering Period is so terminated, then the balance of the amount credited to the Participant's Plan Account which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash within 30 days after such Exercise Date, without any interest thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as Stockholders</u>. With respect to shares of Common Stock subject to an Option, a Participant shall not be deemed to be a stockholder of the Company and shall not have any of the rights or privileges of a stockholder. A Participant shall have the rights and privileges of a stockholder of the Company when, but not until, shares of Common Stock have been deposited in the designated brokerage account following exercise of the Participant's Option. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date occurs prior to the date of such deposit, except as otherwise expressly provided herein or as determined by the Administrator.

**ARTICLE 6**

**TERMINATION OF PARTICIPATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Cessation of Contributions; Voluntary Withdrawal</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;A Participant may cease payroll deductions during an Offering Period and elect to withdraw from the Plan by delivering written notice of such election to the Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator (a "***Withdrawal Election***"). A Participant electing to withdraw from the Plan may elect to either (i) withdraw all of the funds then credited to the Participant's Plan Account as of the date on which the Withdrawal Election is received by the Company, in which case amounts credited to such Plan Account shall be returned to the Participant in one lump-sum payment in cash within 30 days after such election is received by the Company, without any interest thereon, and the Participant shall cease to participate in the Plan and the Participant's Option for such Offering Period shall terminate; or (ii) exercise the Option for the maximum number of whole shares of Common Stock on the applicable Exercise Date with any remaining Plan Account balance returned to the Participant in one lump-sum payment in cash within 30 days after such Exercise Date, without any interest thereon, and after such exercise cease to participate in the Plan. For clarity, during an Offering Period, a Participant may elect to withdraw from the Plan pursuant to clause (ii) and then subsequently elect to withdraw from the Plan pursuant to clause (i), but a withdrawal pursuant to clause (i) shall be final for such Offering Period. Upon receipt of a Withdrawal Election, the Participant's payroll deduction authorization and, if applicable, the Participant's Option shall terminate.

&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)&nbsp;&nbsp;&nbsp;&nbsp;A Participant's withdrawal from the Plan shall not have any effect upon the Participant's eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant withdraws.

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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;(c)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise permitted by the Administrator and/or as set forth in the Offering Document, a Participant who ceases contributions to the Plan during any Offering Period shall not be permitted to resume contributions to the Plan during that Offering Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Eligibility</u>. Subject to Section 7.17, upon a Participant's ceasing to be an Eligible Employee, for any reason, such Participant's Option for the applicable Offering Period shall automatically terminate, the Participant shall be deemed to have elected to withdraw from the Plan, and such Participant's Plan Account shall be paid to such Participant or, in the case of the Participant's death, to the person or persons entitled thereto pursuant to applicable law, within 30 days after such cessation of being an Eligible Employee, without any interest thereon.

**ARTICLE 7**

**GENERAL PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise determined by the Board, the Plan shall be administered by the Committee, which shall be composed of members of the Board. To the extent permitted under applicable law, the Committee may delegate administrative or other tasks under the Plan to the services of an Agent or Employees to assist in the administration of the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with the provisions of the Plan. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;To establish and terminate Offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;To determine when and how Options shall be granted and the provisions and terms of each Offering (which need not be identical);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;To select Designated Subsidiaries in accordance with Section 7.2 hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;To impose a mandatory holding period pursuant to which Participants may not dispose of or transfer shares of Common Stock purchased under the Plan for a period of time determined by the Administrator in its discretion; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;To construe and interpret the Plan, the terms of any Offering and the terms of the Options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, any Offering or any Option, in a manner and to the extent it shall deem necessary or expedient to administer the Plan, subject to Section 423 of the Code for the Section 423 Component.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling of participation elections, payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock

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certificates which vary with local requirements. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may adopt sub-plans applicable to particular Designated Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Section 5.1 hereof, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne by the Company. The Administrator may, with the approval of the Committee, employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons. No member of the Board or Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the options, and all members of the Board or Administrator shall be fully protected by the Company in respect to any such action, determination, or interpretation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Designation of Subsidiary Corporations</u>. The Board or Administrator shall designate from time to time the Subsidiaries that shall constitute Designated Subsidiaries, and determine whether such Designated Subsidiaries shall participate in the Section 423 Component or Non-Section 423 Component. The Board or Administrator may designate a Subsidiary, or terminate the designation of a Subsidiary, without the approval of the stockholders of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Reports</u>. Individual accounts shall be maintained for each Participant in the Plan. Statements of Plan Accounts shall be made available to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option Price, the number of shares purchased and the remaining cash balance, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Right to Employment</u>. Nothing in the Plan shall be construed to give any person (including any Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to terminate the employment of any person (including any Participant) at any time, with or without cause, which right is expressly reserved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment and Termination of the Plan</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and from time to time. To the extent necessary to comply with Section 423 of the Code (or any successor rule or provision), with respect to the Section 423 Component, or any other applicable law, regulation or stock exchange rule, the Company shall obtain stockholder approval of any such amendment to the Plan in such a manner and to such a degree as required by Section 423 of the Code or such other law, regulation or rule.

&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)&nbsp;&nbsp;&nbsp;&nbsp;If the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, to the extent permitted under Section 423 of the Code, for the Section 423 Component, in its discretion and, to the extent

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necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not 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;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;altering the Option Price for any Offering Period including an Offering Period underway at the time of the change in Option Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)&nbsp;&nbsp;&nbsp;&nbsp;shortening any Offering Period so that the Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the Administrator action; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;allocating shares of Common Stock.

Such modifications or amendments shall not require stockholder approval or the consent of any Participant.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Upon termination of the Plan, the balance in each Participant's Plan Account shall be refunded as soon as practicable after such termination, without any interest thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Funds; No Interest Paid</u>. All funds received by the Company by reason of purchase of shares of Common Stock under the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose, except for funds contributed under Offerings in which the local law of a non-U.S. jurisdiction requires that contributions to the Plan by Participants be segregated from the Company's general corporate funds and/or deposited with an independent third party for Participants in non-U.S. jurisdictions. No interest shall be paid to any Participant or credited under the Plan, except as may be required by local law in a non-U.S. jurisdiction. If the segregation of funds and/or payment of interest on any Participant's account is so required, such provisions shall apply to all Participants in the relevant Offering except to the extent otherwise permitted by U.S. Treasury Regulation Section 1.423-2(f). With respect to any Offering under the Non-Section 423 Component, the payment of interest shall apply as determined by the Administrator (but absent any such determination, no interest shall apply).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Term; Approval by Stockholders</u>. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the Company's stockholders within 12 months after the date of the Board's initial adoption of the Plan. Options may be granted prior to such stockholder approval; *provided*, *however*, that such Options shall not be exercisable prior to the time when the Plan is approved by the stockholders; *provided*, *further* that if such approval has not been obtained by the end of the 12-month period, all Options previously granted under the Plan shall thereupon terminate and be canceled and become null and void without being exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect Upon Other Plans</u>. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company, any Parent or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company, any Parent or any Subsidiary (a) to establish any other forms of incentives or compensation for Employees of the Company or any Parent or any Subsidiary, or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Conformity to Securities Laws</u>. Notwithstanding any other provision of the Plan, the Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act

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shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Disposition of Shares</u>. Each Participant in the Section 423 Component shall give the Company prompt notice of any disposition or other transfer of any shares of Common Stock, acquired pursuant to the exercise of an Option granted under the Section 423 Component, if such disposition or transfer is made (a) within two years after the applicable Grant Date or (b) within one year after the transfer of such shares of Common Stock to such Participant upon exercise of such Option. The Company may direct that any certificates evidencing shares acquired pursuant to the Plan refer to such requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>. The Company or any Parent or any Subsidiary shall be entitled to withhold any federal, state or local tax or other amounts required to be withheld by applicable law with respect to participation in the Plan by (a) withholding from wages or other cash compensation payable to each Participant, (b) withholding from the proceeds of the sale of shares of Common Stock purchased under the Plan, either through a Participant's voluntary sale or through a mandatory sale arranged by the Company, (c) withholding shares of Common Stock otherwise issuable upon exercise of an Option under the Plan or (d) withholding by any other method determined by the Company and compliant with applicable law. If any withholding obligation described in the foregoing sentence will be satisfied under clause (b) thereof, each Participant's enrollment in the Plan will constitute the Participant's authorization to the Company and instruction and authorization to the Agent selected to effect the sale to complete the transactions described in clause (b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The Plan and all rights and obligations thereunder shall be construed and enforced in accordance with the laws of the State of Delaware, without regard to the conflict of law rules thereof or of any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions To Issuance of Shares</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make any book entries evidencing shares of Common Stock pursuant to the exercise of an Option by a Participant, unless and until the Board or the Committee has determined, with advice of counsel, that the issuance of such shares of Common Stock is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any securities exchange or automated quotation system on which the shares of Common Stock are listed or traded, and the shares of Common Stock are covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board or the Committee may require that a Participant make such reasonable covenants, agreements, and representations as the Board or the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements.

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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;(b)&nbsp;&nbsp;&nbsp;&nbsp;All certificates for shares of Common Stock delivered pursuant to the Plan and all shares of Common Stock issued pursuant to book entry procedures are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign securities or other laws, rules and regulations and the rules of any securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted, or traded. The Committee may place legends on any certificate or book entry evidencing shares of Common Stock to reference restrictions applicable to the shares of Common Stock.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Committee.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee or required by any applicable law, rule or regulation, the Company may, in lieu of delivering to any Participant certificates evidencing shares of Common Stock issued in connection with any Option, record the issuance of shares of Common Stock in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Equal Rights and Privileges</u>. All Eligible Employees of the Company (or of any Designated Subsidiary) granted Options pursuant to an Offering under the Section 423 Component shall have equal rights and privileges under this Plan to the extent required under Section 423 of the Code so that the Section 423 Component qualifies as an "employee stock purchase plan" within the meaning of Section 423 of the Code. Any provision of the Section 423 Component that is inconsistent with Section 423 of the Code shall, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges requirement of Section 423 of the Code. Eligible Employees participating in the Non-Section 423 Component need not have the same rights and privileges as Eligible Employees participating in the Section 423 Component.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Rules Particular to Specific Countries</u>. Notwithstanding anything herein to the contrary, the terms and conditions of the Plan with respect to Participants who are tax residents of a particular non-U.S. country or who are foreign nationals or employed in non-U.S. jurisdictions may be subject to an addendum to the Plan in the form of an appendix or sub-plan (which appendix or sub-plan may be designed to govern Offerings under the Section 423 Component or the Non-Section 423 Component, as determined by the Administrator). To the extent that the terms and conditions set forth in an appendix or sub-plan conflict with any provisions of the Plan, the provisions of the appendix or sub-plan shall govern. The adoption of any such appendix or sub-plan shall be pursuant to Section 7.1 above. Without limiting the foregoing, the Administrator is specifically authorized to adopt rules and procedures, with respect to Participants who are foreign nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular Subsidiaries from participation in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants, payment of interest, conversion of local currency, data privacy security, payroll tax, withholding procedures, establishment of bank or trust accounts to hold payroll deductions or contributions. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding the exclusion of particular Subsidiaries from participation in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants, payment of interest, conversion of local currency, data privacy security, payroll tax, withholding procedures, establishment of bank or trust accounts to hold payroll deductions or contributions, determination of beneficiary designation requirements, and handling of stock certificates, in each case, in accordance with the requirements of Section 423 of the Code with respect to the Section 423

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Component. The Administrator also is authorized to determine that, to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f), the terms of an Option granted under the Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will be less favorable than the terms of Options granted under the Plan or the same Offering to Employees resident solely in the U.S. To the extent any sub-plan or appendix or other changes approved by the Administrator are inconsistent with the requirements of Section 423 of the Code or would jeopardize the tax-qualified status of the Section 423 Component, the change shall cause the Designated Subsidiaries affected thereby to be considered Designated Subsidiaries in a separate Offering under the Non-Section 423 Component instead of the Section 423 Component. To the extent any Employee of a Designated Subsidiary in the Section 423 Component is a citizen or resident of a foreign jurisdiction (without regard to whether they are also a U.S. citizen or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) and compliance with the laws of the foreign jurisdiction would cause the Section 423 Component, any Offering or the option to violate the requirements of Section 423 of the Code, such Employee shall be considered a Participant in a separate Offering under the Non-Section 423 Component.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.17&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provisions of the Plan to the contrary, in non-U.S. jurisdictions where participation in the Plan through payroll deductions is prohibited, the Administrator may provide that an Eligible Employee may elect to participate through contributions to his or her account under the Plan in a form acceptable to the Administrator in lieu of or in addition to payroll deductions; provided, however, that, for any Offering under the Section 423 Component, the Administrator must determine that any alternative method of contribution is applied on an equal and uniform basis to all Eligible Employees in the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer of Employment</u>. A transfer of employment from one Designated Subsidiary to another shall not be treated as a termination of employment. If a Participant transfers employment from the Company or any Designated Subsidiary participating in the Section 423 Component to a Designated Subsidiary participating in the Non-Section 423 Component, he or she shall immediately cease to participate in the Section 423 Component; however, any payroll deductions made for the Offering Period in which such transfer occurs shall be transferred to the Non-Section 423 Component, and such Participant shall immediately join the then current Offering under the Non-Section 423 Component upon the same terms and conditions in effect for his or her participation in the Section 423 Component, except for such modifications otherwise applicable for Participants in such Offering. A Participant who transfers employment from a Designated Subsidiary participating in the Non-Section 423 Component to the Company or any Designated Subsidiary participating in the Section 423 Component shall remain a Participant in the Non-Section 423 Component until the earlier of (i) the end of the current Offering Period under the Non-Section 423 Component, or (ii) the Enrollment Date of the first Offering Period in which he or she is eligible to participate following such transfer. Notwithstanding the foregoing, the Administrator may establish different rules to govern transfers of employment between companies participating in the Section 423 Component and the Non-Section 423 Component, consistent with the applicable requirements of Section 423 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A</u>. The Section 423 Component of the Plan and the Options granted pursuant to Offerings thereunder are intended to be exempt from the application of Section 409A. Neither the Non-Section 423 Component nor any Option granted pursuant to an Offering thereunder is intended to constitute or provide for "nonqualified deferred compensation" within the meaning of Section 409A. Notwithstanding any provision of the Plan to the contrary, if the Administrator determines that any Option granted under the Plan may be or become subject to Section 409A or that any provision of the Plan may cause an Option granted under the Plan to be or become subject to Section 409A, the Administrator may adopt such amendments to the Plan and/or adopt other policies and procedures

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(including amendments, policies and procedures with retroactive effect), or take any other actions as the Administrator determines are necessary or appropriate to avoid the imposition of taxes under Section 409A, either through compliance with the requirements of Section 409A or with an available exemption therefrom.

\* \* \* \* \*

## Exhibit 10.4

**Exhibit 10.4**

**NEUTRON HOLDINGS, INC.**

**NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM**

This Neutron Holdings, Inc. (the "***Company***") Non-Employee Director Compensation Program (this "***Program***") has been adopted under the Company's 2026 Incentive Award Plan (the "***Plan***") and shall be effective upon the date of the effectiveness of the registration statement on Form S-1 filed by the Company with the U.S. Securities and Exchange Commission that registers existing capital stock of the Company for resale (the "***IPO***"). Capitalized terms not otherwise defined herein have the meaning ascribed in the Plan.

***Cash Compensation***

Effective upon the IPO, annual retainers will be paid in the following amounts to Non-Employee Directors:

*Board Service*

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| | |
|:---|:---|
| Member | &nbsp;&nbsp;&nbsp;&nbsp;$45000 |
| Non-Executive Chair  | &nbsp;&nbsp;&nbsp;&nbsp;$50000 |
| Lead Independent Director  | &nbsp;&nbsp;&nbsp;&nbsp;$30000 |

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*Additional Service*

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| | | |
|:---|:---|:---|
|  | Chair | Non-Chair |
| Audit Committee  | &nbsp;&nbsp;&nbsp;&nbsp;$25000 | &nbsp;&nbsp;&nbsp;&nbsp;$12500 |
| Compensation Committee  | &nbsp;&nbsp;&nbsp;&nbsp;$20000 | &nbsp;&nbsp;&nbsp;&nbsp;$10000 |
| Nominating and Corporate Governance Committee  | &nbsp;&nbsp;&nbsp;&nbsp;$15000 | &nbsp;&nbsp;&nbsp;&nbsp;$7500 |

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All annual retainers will be paid in cash quarterly in arrears promptly following the end of the applicable calendar quarter, but in no event more than 30 days after the end of such quarter. If a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described above, for an entire calendar quarter, the retainer paid to such Non-Employee Director will be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable.

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***Election to Receive Restricted Stock Units ("RSUs") In Lieu of Annual Retainers***

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| | |
|:---|:---|
| General: | The Board or its Compensation Committee (the "***Compensation Committee***") may, in its discretion, provide Non-Employee Directors with the opportunity to elect to convert all or a portion of their annual retainers into awards of RSUs ("***Retainer RSU Awards***") granted under the Plan or any other applicable Company equity incentive plan then-maintained by the Company, with each such Retainer RSU Award covering a number of shares of Common Stock calculated by dividing (i) the amount of the annual retainer that would have otherwise been paid to such Non-Employee Director on the applicable grant date by (ii) the average per share closing trading price of the Common Stock over the most recent 30 trading days as of the grant date (such election, a "***Retainer RSU Election***"). <br>Each Retainer RSU Award automatically will be granted on the fifth day of the month immediately following the end of the quarter for which the corresponding portion of the annual retainer was earned. Each Retainer RSU Award will be fully vested on the grant date. |
| Election Method: | Each Retainer RSU Election must be submitted to the Company in the form and manner specified by the Board or the Compensation Committee. An individual who fails to make a timely Retainer RSU Election will not receive a Retainer RSU Award and instead will receive the applicable annual retainer in cash. Retainer RSU Elections must comply with the following timing requirements:<br>●&nbsp;&nbsp;&nbsp;&nbsp;<u>Initial Election</u>. Each individual who first becomes a Non-Employee Director may make a Retainer RSU Election with respect to annual retainer payments scheduled to be paid in the same calendar year as such individual first becomes a Non-Employee Director (the "***Initial Retainer RSU Election***"). The Initial Retainer RSU Election must be submitted to the Company on or before the date that the individual first becomes a Non-Employee Director (the "***Initial Election Deadline***"), and the Initial Retainer RSU Election will become final and irrevocable as of the Initial Election Deadline. |

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● &nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Election</u>. No later than December 31 of each calendar year, or such other deadline as may be established by the Board or the Compensation Committee, in its discretion (the "***Annual Election Deadline***"), each individual who is a Non-Employee Director as of immediately before the Annual Election Deadline may make a Retainer RSU Election with respect to the annual retainer relating to services to be performed in the following calendar year (the "***Annual Retainer RSU Election***"). The Annual Retainer RSU Election must be submitted to the Company on or before the applicable Annual Election Deadline and will become effective and irrevocable as of the Annual Election Deadline. <br>

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***Equity Compensation***

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| | |
|:---|:---|
| Initial RSU Award: | Unless otherwise approved by the Board prior to commencement of services of an applicable Non-Employee Director, each Non-Employee Director who is initially elected or appointed to serve on the Board after the IPO (such date of initial election or appointment, the "***Director Start Date***") will be granted a prorated annual award of RSUs under the Plan or any other applicable Company equity incentive plan then-maintained by the Company, covering a number of shares of Common Stock calculated by dividing (i)(1) $225,000 multiplied by (2) a fraction (the numerator of which is the difference between 365 and the number of days from the date of the Annual Meeting, as defined below, preceding the Director Start Date (or the date of the completion of the IPO if there is no such Annual Meeting prior to such Director Start Date) through the Director Start Date and the denominator of which is 365) by (ii) the average per share closing trading price of the Common Stock over the 30 consecutive trading days ending on the last trading day preceding the grant date (the "***Initial RSU Award***").<br>The Initial RSU Award will be automatically granted on the date on which such Non-Employee Director commences service on the Board, and will vest in full on the earlier of the (i) first anniversary of the grant date, and (ii) immediately before the first Annual Meeting following the grant date, subject to the Non-Employee Director continuing in service on the Board through the applicable vesting date. |

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| | |
|:---|:---|
| Annual RSU Award: | Each Non-Employee Director who will continue to serve as a Non-Employee Director immediately following the date of an annual meeting of the Company's stockholders (each, an "***Annual Meeting***") will be granted an award of RSUs under the Plan or any other applicable Company equity incentive plan then-maintained by the Company covering a number of shares of Common Stock calculated by dividing (i) $225,000 by (ii) the average per share closing trading price of the Common Stock over the 30 consecutive trading days ending on the last trading day preceding the grant date (the "***Annual RSU Award***").  |
|  | The Annual RSU Award will be automatically granted on the date of the applicable Annual Meeting, and will vest in full on the earlier of (i) the first anniversary of the grant date and (ii) immediately before the first Annual Meeting following the grant date, subject to the Non-Employee Director continuing in service on the Board through such vesting date. |

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***Termination of Service***

No portion of an Initial RSU Award or Annual RSU Award which is unvested at the time of a Non-Employee Director's termination of service on the Board will become vested and/or exercisable thereafter.

***Change in Control***

Immediately prior to a Change in Control of the Company, all outstanding equity awards granted under the Plan and any other equity incentive plan maintained by the Company that are held by a Non-Employee Director will become fully vested and/or exercisable, irrespective of any other provisions of the Non-Employee Director's Award Agreement.

***Certain Terminations***

Directors who are Employees who subsequently terminate their employment with the Company and any Subsidiary and remain a Director will not receive an Initial RSU Award, but to the extent that they are otherwise eligible, will be eligible to receive, after termination from employment with the Company and any Subsidiary, Annual RSU Awards as described above.

***Reimbursements***

The Company shall reimburse each Non-Employee Director for all reasonable, documented, out-of-pocket travel and other business expenses incurred by such Non-Employee Director in

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the performance of such Non-Employee Director's duties to the Company in accordance with the Company's applicable expense reimbursement policies and procedures as in effect from time to time.

***Miscellaneous***

The other provisions of the Plan will apply to the RSUs granted automatically under this Program, except to the extent such other provisions are inconsistent with this Program. All applicable terms of the Plan apply to this Program as if fully set forth herein, and all grants of RSUs hereby are subject in all respects to the terms of the Plan, including, without limitation, the limits on Non-Employee Director compensation set forth in Section 5.5 of the Plan. The grant of RSUs under this Program will be made solely by and subject to the terms set forth in an Award Agreement in a form to be approved by the Board and duly executed by an executive officer of the Company.

**\* \* \* \* \***

## Exhibit 10.5

**Exhibit 10.5**

**<u>NEUTRON HOLDINGS, INC.</u>**

**<u>INDEMNIFICATION AND ADVANCEMENT AGREEMENT</u>**

This Indemnification and Advancement Agreement ("***Agreement***") is made as of ________ __, 20__ by and between Neutron Holdings, Inc., a Delaware corporation (the "***Company***"), and ______________, [a member of the Board of Directors/an officer/an employee/an agent] of the Company ("***Indemnitee***"). This Agreement supersedes and replaces any and all previous agreements between the Company and Indemnitee covering indemnification and advancement of expenses.

**RECITALS**

WHEREAS, the Board of Directors of the Company (the "***Board***") believes that highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers, or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification and advancement of expenses against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;

WHEREAS, the Board has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. The Company's Bylaws and Certificate of Incorporation as now or hereafter in effect require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the "***DGCL***"). The Bylaws, the Certificate of Incorporation, and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and its directors, officers, and other persons with respect to indemnification and advancement of expenses;

WHEREAS, the uncertainties relating to such insurance, to indemnification, and to advancement of expenses may increase the difficulty of attracting and retaining such persons;

WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

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WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

WHEREAS, this Agreement is a supplement to, and in furtherance of, the Bylaws, the Certificate of Incorporation and any resolutions adopted pursuant thereto, as well as any rights of Indemnitee under any directors' and officers' liability insurance policy, and is not a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder; and

WHEREAS, Indemnitee does not regard the protection available under the Bylaws, the Certificate of Incorporation, and available insurance as adequate in the present circumstances, and may not be willing to serve or continue to serve as [a/an] [officer/director/employee/agent] without adequate additional protection, and the Company desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified and be advanced expenses.

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

Section 1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Services to the Company.</u> Indemnitee agrees to serve as [a/an] [director/officer/employee/agent] of the Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). This Agreement does not create any obligation on the Company to continue Indemnitee in such position and is not an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.

Section 2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions.</u> As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"***Agent***" means any person who is authorized by the Company or an Enterprise to act for or represent the interests of the Company or an Enterprise, respectively.

&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)&nbsp;&nbsp;&nbsp;&nbsp;A "***Change in Control***" occurs upon the earliest to occur after the date of this Agreement of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acquisition of Stock by Third Party</u>. Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company's then outstanding securities unless the change in relative beneficial ownership of the Company's securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Board of Directors</u>. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other

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than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(b)(i), 2(b)(iii) or 2(b)(iv) of this Agreement) whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Transactions</u>. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.&nbsp;&nbsp;&nbsp;&nbsp;<u>Liquidation</u>. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Events</u>. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section 2(b), the following terms have the following meanings:

1)"***Beneficial Owner***" has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner excludes any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.

2)"***Person***" has the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person excludes (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

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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;(c)&nbsp;&nbsp;&nbsp;&nbsp;"***Corporate Status***" describes the status of a person who is or was acting as a director, officer, employee, or Agent of the Company or an Enterprise.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"***Disinterested Director***" means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"***Enterprise***" means any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other entity for which Indemnitee is or was serving at the request of the Company as a director, officer, employee, or Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"***Exchange Act***" means the Securities Exchange Act of 1934, as amended 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;(g)&nbsp;&nbsp;&nbsp;&nbsp;"***Expenses***" includes all reasonable attorneys' fees, retainers, court costs, transcript costs, fees and other costs of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, excise taxes and penalties under the Employee Retirement Income Security Act of 1974, as amended, and all other disbursements, obligations, or expenses of the types customarily incurred in connection with preparing for or participating in a Proceeding. Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 14 of this Agreement only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement, Indemnitee's other rights to indemnification or advancement of Expenses from the Company, or concerning any directors' and officers' liability insurance policies maintained by the Company, by litigation or otherwise. Expenses, however, do not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"***Independent Counsel***" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the five years prior to its selection or appointment has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements) or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" does not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel.

&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)&nbsp;&nbsp;&nbsp;&nbsp;"***Proceeding***" includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened or completed

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proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, regulatory, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is, or will be involved as a party, potential party, non-party witness, or otherwise by reason of Indemnitee's Corporate Status or by reason of any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee's part while acting pursuant to Indemnitee's Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement. A Proceeding also includes a situation the Indemnitee believes in good faith may lead to, or culminate in, the institution of a Proceeding.

Section 3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnity in Third-Party Proceedings.</u> The Company will indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with, or in respect of, such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding or any claim, issue, or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that Indemnitee's conduct was unlawful.

Section 4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnity in Proceedings by or in the Right of the Company.</u> The Company will indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company. The Company will not indemnify Indemnitee for Expenses under this Section 4 related to any claim, issue, or matter in a Proceeding for which Indemnitee has been finally adjudged by a court to be liable to the Company, unless, and only to the extent that, the Court of Chancery of the State of Delaware (the "***Delaware Court***") or any court in which the Proceeding was brought determines upon application by Indemnitee that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

Section 5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification for Expenses of a Party Who is Wholly or Partly</u> <u>Successful.</u> To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with any Proceeding to the extent that Indemnitee is successful, on the merits or otherwise. If Indemnitee is not wholly successful in such Proceeding

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but is successful, on the merits or otherwise, as to one or more but less than all claims, issues, or matters in such Proceeding, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue, or matter in such a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such claim, issue, or matter.

Section 6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification for Expenses of a Witness.</u> To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with any Proceeding to which Indemnitee is not a party but to which Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate or provide information.

Section 7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Partial Indemnification.</u> If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company will indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

Section 8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Indemnification.</u> Notwithstanding any limitation in Sections 3, 4, or 5 of this Agreement, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law (including but not limited to, the DGCL and any amendments to or replacements of the DGCL adopted after the date of this Agreement that expand the Company's ability to indemnify its officers, directors, employees or Agents) if Indemnitee is a party to or participant in, or threatened to be made a party to or participant in, any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor).

Section 9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exclusions.</u> Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to indemnify Indemnitee for:

&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)&nbsp;&nbsp;&nbsp;&nbsp;any amount actually paid to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except to the extent provided in Section 15(b) of this Agreement and except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision;

&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)&nbsp;&nbsp;&nbsp;&nbsp;an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common 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;(c)&nbsp;&nbsp;&nbsp;&nbsp; reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the "***Sarbanes-Oxley Act***"), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act);

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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;(d)&nbsp;&nbsp;&nbsp;&nbsp;reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; 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;(e)&nbsp;&nbsp;&nbsp;&nbsp;any Proceeding initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce Indemnitee's rights to indemnification or advancement, of Expenses, including a Proceeding (or any part of any Proceeding) initiated pursuant to Section 14 of this Agreement, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (iii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

Section 10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Advances of Expenses.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;any Proceeding (or any part of any Proceeding) not initiated by Indemnitee; 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;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp; any Proceeding (or any part of any Proceeding) initiated by Indemnitee if:

1)&nbsp;&nbsp;&nbsp;&nbsp;the Proceeding or part of any Proceeding is to enforce Indemnitee's rights to obtain indemnification or advancement of Expenses from the Company or Enterprise, including a proceeding initiated pursuant to Section 14 of this Agreement, or

2)&nbsp;&nbsp;&nbsp;&nbsp;the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company will advance the Expenses within forty-five (45) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding eligible for advancement of expenses.

&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)&nbsp;&nbsp;&nbsp;&nbsp;Advanced Expenses will be unsecured and interest free. Indemnitee hereby undertakes to repay any amounts so advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking is required other than the execution of this Agreement. The Company will make advances without regard to Indemnitee's ability to repay the Expenses and without regard to Indemnitee's ultimate entitlement to indemnification under the other provisions of this Agreement.

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Section 11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure for Notification of Claim for Indemnification or Advancement.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indemnitee will notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. Indemnitee will include in the written notification to the Company a description of the nature of the Proceeding and the facts underlying the Proceeding and provide such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. Indemnitee's failure to notify the Company will not relieve the Company from any obligation it may have to Indemnitee under this Agreement, and any delay or defect in so notifying the Company will not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company will, promptly upon receipt of such a request for indemnification or advancement of Expenses, advise the Board in writing that Indemnitee has requested indemnification or advancement of Expenses.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company will be entitled to participate in the Proceeding at its own expense.

Section 12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure Upon Application for Indemnification.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Unless a Change in Control has occurred, the determination of Indemnitee's entitlement to indemnification will be made:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided by Independent Counsel selected by the Board; 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;&nbsp;&nbsp;&nbsp;&nbsp;iv.&nbsp;&nbsp;&nbsp;&nbsp;if so directed by the Board, by the stockholders of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;If a Change in Control has occurred, the determination of Indemnitee's entitlement to indemnification will be made by written opinion provided by Independent Counsel selected by Indemnitee (unless Indemnitee requests such selection be made by the Board)

&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)&nbsp;&nbsp;&nbsp;&nbsp;The party selecting Independent Counsel pursuant to subsection (a)(iii) or (b) of this Section 12 will provide written notice of the selection to the other party. The notified party may, within ten (10) days after receiving written notice of the selection of Independent Counsel, deliver to the selecting party a written objection to such selection; <u>provided</u>, <u>however</u>, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent Counsel" as defined in Section 2 of this

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Agreement, and the objection will set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within thirty (30) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a) of this Agreement and the final disposition of the Proceeding, Independent Counsel has not been selected or, if selected, any objection to such selection has not been resolved, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection made by the Company or Indemnitee to the other's selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court designates. The Company will retain and pay the reasonable fees and expenses incurred by Independent Counsel so selected or appointed. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel will be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

&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)&nbsp;&nbsp;&nbsp;&nbsp;Indemnitee will cooperate with the person, persons or entity making the determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons, or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating with the person, persons or entity making the indemnification determination irrespective of the determination as to Indemnitee's entitlement to indemnification and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing of the determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied and providing a copy of any written opinion provided to the Board by Independent Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If it is determined that Indemnitee is entitled to indemnification, the Company will make payment to Indemnitee within thirty (30) days after such determination.

Section 13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Presumptions and Effect of Certain Proceedings.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;In making a determination with respect to entitlement to indemnification under this Agreement, the person, persons, or entity making such determination will, to the fullest extent not prohibited by law, presume Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company will, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption. Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper under the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual

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determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

&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)&nbsp;&nbsp;&nbsp;&nbsp;If the determination of the Indemnitee's entitlement to indemnification has not been made pursuant to Section 12 of this Agreement within sixty (60) days after the later of (i) receipt by the Company of Indemnitee's request for indemnification pursuant to Section 11(a) of this Agreement and (ii) the final disposition of the Proceeding for which Indemnitee requested indemnification (the "***Determination Period***"), the requisite determination of entitlement to indemnification will, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee will be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification or (ii) a prohibition of such indemnification under applicable law. The Determination Period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, the Determination Period will not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 12(a)(iv) of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The termination of any Proceeding or of any claim, issue, or matter therein by judgment, order, settlement or conviction, or upon a plea of <u>nolo</u> <u>contendere</u> or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful.

&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)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of any determination of good faith, Indemnitee will be deemed to have acted in good faith if Indemnitee acted based on (i) the records or books of account of the Company, its subsidiaries, or an Enterprise, including financial statements, (ii) information supplied to Indemnitee by the directors or officers of the Company, its subsidiaries, or an Enterprise in the course of their duties, (iii) the advice of legal counsel for the Company, its subsidiaries, or an Enterprise or (iv) information or records given or reports made to the Company or an Enterprise by an independent certified public accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or on behalf of the Company, its subsidiaries, or an Enterprise. Further, Indemnitee will be deemed to have acted in a manner

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"not opposed to the best interests of the Company," as referred to in this Agreement if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan. The provisions of this Section 13(d) are not exclusive and do not limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The knowledge and/or actions, or failure to act, of any other person affiliated with the Company or an Enterprise (including, but not limited to, a director, officer, trustee, partner, managing member, Agent or employee) may not be imputed to Indemnitee for purposes of determining Indemnitee's right to indemnification under this Agreement.

Section 14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies of Indemnitee.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indemnitee may commence litigation against the Company in the Delaware Court to obtain indemnification or advancement of Expenses provided by this Agreement in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company does not advance Expenses pursuant to Section 10 of this Agreement, (iii) the determination of entitlement to indemnification is not made pursuant to Section 12 of this Agreement within the Determination Period, (iv) the Company does not indemnify Indemnitee pursuant to Section 5 or 6 or the second to last sentence of Section 12(d) of this Agreement within thirty (30) days after receipt by the Company of a written request therefor, (v) the Company does not indemnify Indemnitee pursuant to Section 3, 4, 7, or 8 of this Agreement within thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder. Alternatively, Indemnitee or the Company, at their option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Company will not oppose Indemnitee's right to seek any such adjudication or award in arbitration.

&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)&nbsp;&nbsp;&nbsp;&nbsp;If a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 will be conducted in all respects as a *de novo* trial or arbitration on the merits and Indemnitee may not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company will have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be, and will not introduce evidence of the determination made pursuant to Section 12 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If a determination is made pursuant to Section 12 of this Agreement that Indemnitee is entitled to indemnification, the Company will be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14 unless (i) Indemnitee a made a misstatement of a material fact, or an omission of a material fact necessary

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to make Indemnitee's statement not materially misleading, in connection with Indemnitees' request for indemnification, or (ii) the Company is prohibited from indemnifying Indemnitee 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;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Company is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding, or enforceable and will stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement, or defense of Indemnitee's rights under this Agreement, by litigation or otherwise, because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee under this Agreement. The Company, to the fullest extent permitted by law, will (within thirty (30) days after receipt by the Company of a written request therefor) advance to Indemnitee such Expenses which are incurred by Indemnitee in connection with a Proceeding concerning this Agreement, Indemnitee's other rights to indemnification or advancement of Expenses from the Company, or concerning any directors' and officers' liability insurance policies maintained by the Company, and will indemnify Indemnitee against any and all such Expenses unless the court determines that Indemnitee's claims in such Proceeding were made in bad faith or frivolous, or that the Company is prohibited by law from indemnifying Indemnitee for such Expenses.

Section 15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-exclusivity; Survival of Rights; Insurance; Subrogation; Bar Order.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The rights to indemnification and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or Disinterested Directors, or otherwise. The indemnification and advancement of Expenses provided by this Agreement may not be limited or restricted by any amendment, alteration or repeal of this Agreement in any way with respect to any action taken or omitted by Indemnitee in Indemnitee's Corporate Status occurring prior to any amendment, alteration or repeal of this Agreement. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Bylaws, the Certificate of Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or employment of any other right or remedy.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance provided by one or more other Persons with whom or which Indemnitee may be associated. The relationship between the

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Company and such other Persons, other than an Enterprise, with respect to Indemnitee's rights to indemnification, advancement of Expenses, and insurance is described by this subsection, subject to the provisions of subsection (d) of this Section 15 with respect to a Proceeding concerning Indemnitee's Corporate Status with an Enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby acknowledges and agrees:

1)&nbsp;&nbsp;&nbsp;&nbsp;the Company's obligations to Indemnitee are primary and any obligation of any other Persons, other than an Enterprise, are secondary (i.e., the Company is the indemnitor of first resort) with respect to any request for indemnification or advancement of Expenses made pursuant to this Agreement concerning any Proceeding;

3)&nbsp;&nbsp;&nbsp;&nbsp;any obligation of any other Persons with whom or which Indemnitee may be associated to indemnify Indemnitee and/or advance Expenses to Indemnitee in respect of any proceeding are secondary to the Company's obligations; and

4)&nbsp;&nbsp;&nbsp;&nbsp;the Company will indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided herein without regard to any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated or an insurer of any such Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;the Company irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated from any claim of contribution, subrogation, reimbursement, exoneration or indemnification, or any other recovery of any kind in respect of amounts paid by the Company to Indemnitee pursuant to this Agreement and (B) any right to participate in any claim or remedy of Indemnitee against any Person, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Person, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.&nbsp;&nbsp;&nbsp;&nbsp;In the event any other Person with whom or which Indemnitee may be associated or their insurers advances or extinguishes any liability or loss for Indemnitee, the payor has a right of subrogation against the Company or its insurers for all amounts so paid which would otherwise be payable by the Company or its insurers under this Agreement. In no event will payment by any other Person with whom or which Indemnitee may be associated or their insurers affect the obligations of the Company hereunder or shift primary liability for the Company's obligation to indemnify or advance Expenses to any other Person with whom or which Indemnitee may be associated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.&nbsp;&nbsp;&nbsp;&nbsp;Any indemnification or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated is specifically in excess over the

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Company's obligation to indemnify and advance Expenses or any valid and collectible insurance (including but not limited to any malpractice insurance or professional errors and omissions insurance) provided by the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or Agents of the Company, the Company will obtain a policy or policies covering Indemnitee to the maximum extent of the coverage available for any such director, officer, employee or Agent under such policy or policies, including coverage in the event the Company does not or cannot, for any reason, indemnify or advance Expenses to Indemnitee as required by this Agreement. If, at the time of the receipt of a notice of a claim pursuant to this Agreement, the Company has director and officer liability insurance in effect, the Company will give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Company will thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. Indemnitee agrees to assist the Company's efforts to cause the insurers to pay such amounts and will comply with the terms of such policies, including selection of approved panel counsel, if required.

&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)&nbsp;&nbsp;&nbsp;&nbsp;The Company's obligation to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning Indemnitee's Corporate Status with an Enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such Enterprise. The Company and Indemnitee intend that any such Enterprise (and its insurers) be the indemnitor of first resort with respect to indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee's Corporate Status with such Enterprise. The Company's obligation to indemnify and advance Expenses to Indemnitee is secondary to the obligations the Enterprise or its insurers owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable action to obtain from an Enterprise indemnification and advancement of Expenses for any Proceeding related to, or arising from, Indemnitee's Corporate Status with such Enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;In the event of any payment made by the Company under this Agreement, the Company will be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee from any Enterprise or its insurance carrier. Indemnitee will execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Company will not seek from a court, or agree to, a "bar order" which would have the effect of prohibiting or limiting the Indemnitee's rights to be indemnified or to receive advancement of Expenses under this Agreement. The Company will not contend or claim in any proceeding to enforce the Indemnitee's rights under the Agreement that any bar order prohibits or limits Indemnitee's rights under this Agreement and expressly waives any such contention or claim.

Section 16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Duration of Agreement.</u> The indemnification and advancement of Expenses rights provided by or granted pursuant to this Agreement are (i) binding upon and be

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enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), (ii) continue as to an Indemnitee who has ceased to be a director, officer, employee or Agent of the Company or of any other Enterprise, and (iii) inure to the benefit of Indemnitee and Indemnitee's spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

Section 17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability.</u> If any provision or provisions of this Agreement is held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) will not in any way be affected or impaired thereby and will remain enforceable to the fullest extent permitted by law; (b) such provision or provisions will be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) will be construed so as to give effect to the intent manifested thereby.

Section 18.&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. Any ambiguity in the terms of this Agreement will be resolved in favor of Indemnitee and in a manner to provide the maximum indemnification and advancement of Expenses permitted by law. The Company and Indemnitee intend that this Agreement provide to the fullest extent permitted by law for indemnification and advancement of Expenses in excess of that expressly provided, without limitation, by the Certificate of Incorporation, the Bylaws, vote of the Company's stockholders or Disinterested Directors, or applicable law.

Section 19.&nbsp;&nbsp;&nbsp;&nbsp;<u>Enforcement.</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director, officer, employee, or Agent of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving or continuing to serve as director, officer, employee, or Agent of the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws, any directors' and officers' liability insurance maintained by the Company, and applicable law, is not a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder.

Section 20.&nbsp;&nbsp;&nbsp;&nbsp;<u>Modification and Waiver.</u> No supplement, modification or amendment of this Agreement is binding unless executed in writing by the parties hereto. No waiver of any of

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the provisions of this Agreement will be valid unless executed in writing by the party entitled to enforce the provision to be waived and any such waiver will not be deemed to constitute a waiver of any other provisions of this Agreement nor will any waiver constitute a continuing waiver.

Section 21.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice by Indemnitee.</u> Indemnitee agrees to promptly notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company does not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

Section 22.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices.</u> All notices, requests, demands and other communications under this Agreement will be in writing and will be deemed to have been duly given if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other party or (c) sent by facsimile transmission or electronic mail, with receipt of oral confirmation that such communication has been received:

&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)&nbsp;&nbsp;&nbsp;&nbsp;If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee provides to the Company.

&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)&nbsp;&nbsp;&nbsp;&nbsp;If to the Company to:

Neutron Holdings, Inc.

82 2<sup>nd</sup> Street, Suite 750

San Francisco, California 94105

Attention: Chief Legal Officer

Email: [[__]@li.me]

or to any other address as may have been furnished to Indemnitee by the Company.

Section 23.&nbsp;&nbsp;&nbsp;&nbsp;<u>Contribution.</u> To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (a) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (b) the relative fault of the Company (and its directors, officers, employees and Agents) and Indemnitee in connection with such event(s) and/or transaction(s).

Section 24.&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicable Law and Consent to Jurisdiction.</u> This Agreement and the legal relations among the parties are governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (a) agree that any action,

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claim, or proceeding between the parties arising out of or in connection with this Agreement may be brought only in the Delaware Court and not in any other state or federal court in the United States of America or any court in any other country, (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action, claim, or proceeding arising out of or in connection with this Agreement, (c) waive any objection to the laying of venue of any such action, claim, or proceeding in the Delaware Court, and (d) waive, and agree not to plead or to make, any claim that any such action, claim, or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

Section 25.&nbsp;&nbsp;&nbsp;&nbsp;<u>Identical Counterparts.</u> This Agreement may be executed in one or more counterparts, each of which will for all purposes be deemed to be an original but all of which together constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

Section 26.&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings.</u> The headings of this Agreement are inserted for convenience only and do not constitute part of this Agreement or affect the construction thereof.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

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| | |
|:---|:---|
| COMPANY | INDEMNITEE |
| NEUTRON HOLDINGS, INC. |  |
| By: |  |
| Name: | Name: |
| Office: | Address: |

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## Exhibit 10.6

**Exhibit 10.6**

**Neutron Holdings, Inc**.

May 21, 2026

Wayne Ting

***By email***

Re: <u>Amended and Restated Offer Letter</u>

Dear Wayne:

You and Neutron Holdings, Inc. (the "***Company***") are parties to an offer letter dated June 30, 2020 (the "***Prior Offer Letter***") that sets forth the terms of your employment with the Company. This letter agreement sets forth the terms of your continued employment with the Company effective as of the date of this letter agreement, and, except as set forth herein, supersedes in its entirety the Prior Offer Letter. Effective as of the date of this letter agreement, the terms of your employment with the Company are as follows:

**1. Position**. You will continue to serve as the Company's Chief Executive Officer, and you will report to the Company's Board of Directors (the "***Board***"). This is a full-time position based in the Company's office located in San Francisco, California*.* In your role, you are expected to devote your full time, ability, attention, energy and skills in performing all duties as assigned and delegated to you by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.You hereby affirm your continuing obligations under the Confidential Proprietary Information and Invention Assignment Agreement that you previously entered into with the Company, as well as your obligation to comply with all of the Company's policies in effect during your term of employment, including, without limitation, the Company Handbook, as it may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.By signing this letter agreement, you confirm to the Company that you have no contractual commitments, conflicts of interest or other legal obligations that would prohibit you from performing your duties for the Company.

**2. Salary**. Effective March 1, 2026, you will receive an annual base salary of $560,000, which will be paid in in accordance with the Company's standard payroll procedures, subject to required tax withholding and other authorized deductions ("***Base Salary***"). Your Base Salary may be adjusted from time to time by the Company in its sole discretion.

**3. Bonus**. Effective March 1, 2026, you will be eligible for a target bonus at 100% of your Base Salary.

**4. Equity Compensation**. You will be eligible to be granted equity awards under the Company's 2026 Incentive Award Plan from time to time as determined in the sole discretion of the Board or its compensation committee.

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**5. Severance**. You will continue to be eligible for the following severance benefits in the event of your Termination without Cause or your Resignation for Good Reason, other than in connection with a Change in Control, only if you (i) have returned all Company property in your possession, (ii) have resigned as a member of the Boards of Directors of the Company and all of its subsidiaries, to the extent applicable, and (iii) have executed a general release of all claims that you may have against the Company or persons affiliated with the Company (the "***Release***"). You must execute and return the Release on or before the date specified by the Company in the prescribed form (the "***Release Deadline***"). The Release Deadline will in no event be later than 50 days after your Separation. If you fail to return the Release on or before the Release Deadline, or if you revoke the Release, then you will not be entitled to the benefits described in this Section 5:

&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)**Salary Continuation**: The Company will continue to pay your base salary for a period of six months after your Separation. Your base salary will be paid at the rate in effect at the time of your Separation and in accordance with the Company's standard payroll procedures. The salary continuation payments will commence within 60 days after your Separation and, once they commence, will include any unpaid amounts accrued from the date of your Separation. However, if the 60-day period described in the preceding sentence spans two calendar years, then the payments will in any event begin in the second calendar year.

&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)**COBRA**: If you elect to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act ("***COBRA***") following your Separation, then the Company will pay the same portion of your monthly premium under COBRA as it pays for active employees and their eligible dependents until the earliest of (i) the close of the six-month period following your Separation, (ii) the expiration of your continuation coverage under COBRA or (iii) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment.

For purposes of this Section 5, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "***Cause***" shall mean your (a) performance of any act or failure to perform any act in bad faith and to the detriment of the Company or an affiliate thereof; (b) material act of dishonesty, intentional misconduct or material breach of any agreement with the Company or an affiliate thereof; or (c) conviction of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "***Change in Control***" shall mean means a change in ownership or control of the Company effected through any of the following events: (a) a change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group ("***Person***"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Company's Board of Directors (the "***Board***") will not be considered a Change in Control; or (b) if the Company has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the

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Board prior to the date of the appointment or election; provided, however, if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or (c) a change in the ownership of a substantial portion of the Company's assets which occurs on the date that any Person acquires (or has acquired during the 12 month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. For purposes of the foregoing, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless such transaction also qualifies as an event under Treas. Reg. §1.409A-3(i)(5)(v) (change in the ownership of a corporation), Treas. Reg. §1.409A-3(i)(5)(vi) (change in the effective control of a corporation), or Treas. Reg. §1.409A-3(i)(5)(vii) (change in the ownership of a substantial portion of a corporation's assets). Further, a transaction will not constitute a Change in Control if its sole purpose is to: (x) change the jurisdiction of the Company's incorporation, or (y) create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "***Resignation for Good Reason***" shall mean a Separation as a result of your resignation after the occurrence without your written consent of a change in your position with the Company that materially reduces your duties, level of authority or responsibility; provided, however, that a reduction in duties, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity will not alone constitute a Resignation for Good Reason. A Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within 60 days after the condition comes into existence and the Company fails to remedy the condition within 30 days after receiving your written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "***Separation***" shall mean a "separation from service," as defined in Treas. Reg. §1.409A-1(h), without regard to any permissible alternative definition thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "***Termination without Cause***" shall mean Separation as a result of a termination of your employment by the Company without Cause.

Upon a termination in connection with a Change in Control, in lieu of the severance benefits set forth above, you will be eligible for severance benefits under the Company's Executive Severance Plan, subject to the terms and conditions thereof.

**6. Benefits**. The Company will provide you with the benefits that the Company may, from time to time, in its sole discretion offer to employees. The Company currently offers a full range of benefits for you and your qualified dependents.

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**7. Taxes**. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law. You are encouraged to obtain your own tax advice regarding your compensation from the Company.

**8. Employment Relationship**. Your employment with the Company is entirely voluntary for both parties and either you or the Company may conclude the employment relationship at any time for any reason. This "at will" employment relationship can only be modified in writing by an authorized officer of the Company (other than you).

**9. Miscellaneous**. This agreement is the parties' entire agreement on this topic, superseding any prior or contemporaneous agreements regarding the same (including, without limitation, the Prior Offer Letter). Any amendments to this letter agreement must be in writing. Failure to enforce any of the provisions of this agreement will not constitute a waiver. This agreement is governed by the laws of California, excluding its conflict-of-laws principles. The exclusive venue for any dispute relating to this agreement shall be in San Francisco, California.

(*signature page follows*)

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To indicate your agreement to the terms set forth in this letter agreement, please sign and date this letter agreement in the space provided below and return it to me at your earliest convenience.

---

| | | |
|:---|:---|:---|
| | Very truly yours, | Very truly yours, |
| | NEUTRON HOLDINGS, INC. | NEUTRON HOLDINGS, INC. |
| | By: | /s/ Susie Giordano |
| | | Susie Giordano |
| | | Chief Legal Office and Corporate Secretary |
| AGREED AND ACCEPTED: |  |  |
| /s/ Wayne Ting |  |  |
| Wayne Ting |  |  |

---

***Signature Page to Amended and Restated Offer Letter***

## Exhibit 10.7

**Exhibit 10.7**

**Neutron Holdings, Inc**.

May 21, 2026

Ann Gugino

***By email***

Re: <u>Amended and Restated Offer Letter</u>

Dear Ann:

You and Neutron Holdings, Inc. (the "***Company***") are parties to an offer letter dated December 3, 2023 (the "***Prior Offer Letter***") that sets forth the terms of your employment with the Company. This letter agreement sets forth the terms of your continued employment with the Company effective as of the date of this letter agreement, and, except as set forth herein, supersedes in its entirety the Prior Offer Letter. Effective as of the date of this letter agreement, the terms of your employment with the Company are as follows:

**1. Position**. You will continue to serve as the Company's Chief Financial Officer, and you will report to the Company's Chief Executive Officer. This is a full-time position*.* In your role, you are expected to devote your full time, ability, attention, energy and skills in performing all duties as assigned and delegated to you by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.You hereby affirm your continuing obligations under the Confidential Information and Invention Assignment Agreement that you previously entered into with the Company, as well as your obligation to comply with all of the Company's policies in effect during your term of employment, including, without limitation, the Company Handbook, as it may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.By signing this letter agreement, you confirm to the Company that you have no contractual commitments, conflicts of interest or other legal obligations that would prohibit you from performing your duties for the Company.

**2. Salary**. Effective March 1, 2026, you will receive an annual base salary of $540,000, which will be paid in in accordance with the Company's standard payroll procedures, subject to required tax withholding and other authorized deductions ("***Base Salary***"). Your Base Salary may be adjusted from time to time by the Company in its sole discretion.

**3. Bonus**. Effective March 1, 2026, you will be eligible for a target bonus at 50% of your Base Salary.

**4. Equity Compensation**. You will be eligible to be granted equity awards under the Company's 2026 Incentive Award Plan from time to time as determined in the sole discretion of the Board or its compensation committee.

**5. Severance**. You will continue to be eligible for cash severance in an amount equivalent to six (6) months of your then-current salary at the time of the termination of your employment by the

------

Company without "Cause" (as defined herein), other than in connection with a Change in Control (as defined in the Company's 2017 Stock Incentive Plan). To receive such cash severance, you must (i) return all Company property in your possession, (ii) resign from any officer or director position with the Company or any of the Company's subsidiaries, to the extent applicable, and (iii) execute a mutual general release of claims in favor of the Company and its officers and directors (the "***Release***"). You must execute and return the Release no later than thirty (30) days after the termination of your employment (such date, the "***Release Deadline***"). If you fail to return the Release on or before the Release Deadline, or if you revoke the Release, then you will not be entitled to the benefits described above. The cash severance will be made within sixty (60) days after your termination of employment; however, if such sixty (60)-day period spans two calendar years, then the payment will be made in the second calendar year.

For purposes of the foregoing, "***Cause***" shall mean the Company's reasonable belief that you have engaged in the following conduct: (i) your performance of any act or failure to perform any act in bad faith and to the detriment of the Company or a related entity; (ii) your dishonesty, fraud or embezzlement, intentional misconduct or material breach of any agreement with the Company or a related entity; (iii) your commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person; (iv) your negligence, bad faith, or misconduct which causes either reputational or economic harm to the Company or its subsidiaries or its affiliates as determined by the Company in its sole discretion; (v) your refusal or failure to perform your duties or any reasonable directive of the Company after receipt of a notice of such failure and an opportunity (determined by the Company in its sole discretion under the circumstances) in which to cure such failure; (vi) your knowing misrepresentation of any material fact that the Company reasonably requests;(vii) your violation, as determined by the Company, of any securities or employment laws or regulations; or (viii) your breach of your obligations under this letter or violation of Company's policies, as determined by the Company in its sole discretion.

Upon a termination in connection with a Change in Control, in lieu of the severance benefits set forth above, you will be eligible for severance benefits under the Company's Executive Severance Plan, subject to the terms and conditions thereof.

**6. Benefits**. The Company will provide you with the benefits that the Company may, from time to time, in its sole discretion offer to employees. The Company currently offers a full range of benefits for you and your qualified dependents.

**7. Taxes**. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law. You are encouraged to obtain your own tax advice regarding your compensation from the Company.

**8. Employment Relationship**. Your employment with the Company is entirely voluntary for both parties and either you or the Company may conclude the employment relationship at any time for any reason. This "at will" employment relationship can only be modified in writing by an authorized officer of the Company (other than you).

**9. Miscellaneous**. This agreement is the parties' entire agreement on this topic, superseding any prior or contemporaneous agreements regarding the same (including, without limitation, the Prior Offer Letter). Any amendments to this letter agreement must be in writing. Failure to enforce any of the provisions of this agreement will not constitute a waiver. This agreement is governed by

------

the laws of California, excluding its conflict-of-laws principles. The exclusive venue for any dispute relating to this agreement shall be in San Francisco, California.

(*signature page follows*)

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To indicate your agreement to the terms set forth in this letter agreement, please sign and date this letter agreement in the space provided below and return it to me at your earliest convenience.

---

| | | |
|:---|:---|:---|
| | Very truly yours, | Very truly yours, |
| | NEUTRON HOLDINGS, INC. | NEUTRON HOLDINGS, INC. |
| | By: | /s/ Susie Giordano |
| | | Susie Giordano |
| | | Chief Legal Officer and Corporate Secretary |
| AGREED AND ACCEPTED: |  |  |
| /s/ Ann Gugino |  |  |
| Ann Gugino |  |  |

---

***Signature Page to Amended and Restated Offer Letter***

## Exhibit 10.15

**Exhibit 10.15**

Neutron Holdings, Inc.

October 4th, 2023

Uber Technologies, Inc.

1515 3<sup>rd</sup> Street

San Francisco, CA 94158

Re:&nbsp;&nbsp;&nbsp;&nbsp;<u>Letter Agreement</u>

Ladies and Gentlemen:

Reference is made herein to that certain License and Integration Agreement, dated as of August 10, 2018, by and among Uber Technologies, Inc., a Delaware corporation ("**UTI**"), Neutron Holdings, Inc., DBA "Lime", a Delaware corporation (the "**Company**"), and the other parties thereto (as amended to date and as may be further amended and/or restated, the "L**icense and Integration Agreement**"). In connection with the execution of Amendment 10 to the License and Integration Agreement, dated as of the date hereof, UTI and the Company hereby agree to the terms and obligations of this letter agreement (this "**Letter Agreement**"). Reference is made herein to that certain Investors' Rights Agreement, dated as of May 7, 2020, by and among the Company, UTI and the other parties thereto (as may be amended and/or restated from time to time, the "**Rights Agreement**"). Capitalized terms used but not defined herein shall have the meanings given to them in the Rights Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional "Market Stand-off" Agreement</u>. Following the expiration of the restrictions contained in Section 2.11 of the Rights Agreement with respect to the IPO (the "**Rights Agreement Lockup Period**"), the following additional restrictions shall apply to UTI.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Definitions</u>. For the purposes of this Letter 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;&nbsp;&nbsp;&nbsp;&nbsp;i."**IPO Date**" means the date of the final prospectus relating to the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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."**Lockup Securities**" means any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held by UTI immediately before the IPO 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;&nbsp;&nbsp;&nbsp;&nbsp;iii."**Restricted Activities**" means the following transactions: (i) lending; offering; pledging; selling; contracting to sell; selling any option or contract to purchase; purchasing any option or contract to sell; granting any option, right, or warrant to purchase; or otherwise transferring or disposing of, directly or indirectly, any Lockup Securities or (ii) entering into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Lockup Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise.

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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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lock-up Periods</u>. UTI hereby agrees that it will not, without the prior written consent of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)during the period commencing on the expiration of the Rights Agreement Lockup Period and ending on the date that is one (1) year following the IPO Date (the "**First Lockup Date**"), conduct any Restricted Activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)during the period commencing on the day after the First Lockup Date and ending on the date that is eighteen (18) months following the IPO Date (the "**Second Lockup Date**"), conduct any Restricted Activities other than Restricted Activities with respect to up to twenty-five percent (25%) of the Lockup Securities, in the aggregate; 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;(z)during the period commencing on the day after the Second Lockup Date and ending on the date that is two (2) years following the IPO Date, conduct any Restricted Activities other than Restricted Activities with respect to up to fifty percent (50%) of the Lockup Securities, in the aggregate.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Exceptions to Lock-up</u>. For clarity, nothing in this Letter Agreement shall restrict UTI's ability to conduct Restricted Activities after the date that is two (2) years following the IPO Date. Further, the provisions of <u>Section 1(b)</u> shall not apply to (i) the sale of any shares to an underwriter pursuant to an underwriting agreement, (ii) the transfer of Lockup Securities by UTI to an Affiliate of UTI, provided that such transferee agrees to be bound by substantially similar restrictions to those contained in this Letter Agreement, or (iii) the transfer of Lockup Securities in connection with a bona fide third-party tender offer, merger, consolidation or other similar transaction, that is approved by the Board of Directors, made to all holders of Common Stock involving a Change of Control (as defined below), provided that in the event that the tender offer, merger, consolidation or other such transaction is not completed, the Lockup Securities owned by UTI shall remain subject to the restrictions contained in this Letter Agreement. For the purposes of this <u>Section 1(c)</u>, "**Change of Control**" means the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons (other than any underwriters in a public offering), of shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock if, after such transfer, the stockholders of the Company immediately prior to such transfer do not own at least fifty percent (50%) of the outstanding voting securities of the Company (or the surviving entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</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;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. This Letter Agreement shall terminate and be of no further force or effect upon the earliest to occur of: (i) the date that is two (2) years following the IPO Date, (ii) the termination of the License and Integration Agreement or (iii) immediately prior to the closing of a Deemed Liquidation Event (as defined in the Company's Ninth Amended and Restated Certificate of Incorporation (as may be amended and/or restated 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;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>. This Letter Agreement may not be amended or modified, or any provision hereof waived, without the written consent of the Company and UTI.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Letter Agreement, together with the Rights Agreement, constitutes the full and entire understanding and agreement between the Company and UTI with respect

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to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

&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)&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Provisions</u>. The following provisions of the Rights Agreement are hereby incorporated in their entirety into this Letter Agreement as if such provisions were part of this Letter Agreement: Section 6.2 (Governing Law), Section 6.3 (Counterparts), Section 6.4 (Titles and Subtitles), Section 6.5 (Notices), Section 6.7 (Severability) and Section 6.11 (Dispute Resolution).

[*Signature page follows*]

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The undersigned hereby execute and deliver this Letter Agreement as of the date first set forth above.

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| | |
|:---|:---|
| VERY TRULY YOURS, | VERY TRULY YOURS, |
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Susan Anderson |
| Name: | Susan Anderson |
| Title: | VP, Global Business Development Uber |

---

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| | |
|:---|:---|
| ACKNOWLEDGED AND AGREED: | ACKNOWLEDGED AND AGREED: |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Sarah Binder |
| Name: | Sarah Binder |
| Title: | General Counsel |

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**SIGNATURE PAGE TO LETTER AGREEMENT**

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**Amendment to Letter Agreement**

This Amendment to Letter Agreement (this "**Amendment**") is made and entered into as of June 21, 2026 by and between Uber Technologies, Inc., a Delaware corporation ("**UTI**"), and Neutron Holdings, Inc., DBA "Lime", a Delaware corporation (the "**Company**").

**RECITALS**

WHEREAS, the Company and UTI are parties to that certain side letter agreement, [dated October 4, 2023, (the "](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1015-sx1.htm)**[Agreement](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1015-sx1.htm)**[").](https://www.sec.gov/Archives/edgar/data/1699963/000162828026032523/exhibit1015-sx1.htm) the Agreement may not be amended or modified, or any provision thereof waived, without the written consent of the Company and UTI.

WHEREAS, pursuant to Section 2(b) of the Agreement, the Agreement may not be amended or modified, or any provision thereof waived, without the written consent of the Company and UTI.

WHEREAS, the Company and UTI desire to amend the Agreement as set forth in this Amendment.

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Agreement.

**AGREEMENT**

NOW THEREFORE, in consideration of the foregoing, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**Amendment**.

Section 1 (b) of the Agreement is hereby amended and restated in its entirety as follows:

"(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lock-up Periods</u>. UTI hereby agrees that it will not, without the prior written consent of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) during the period commencing on the expiration of the Rights Agreement Lockup Period and ending on the date that is one (1) year following the IPO Date (the "**First Lockup Date**"), conduct any Restricted Activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) during the period commencing on the day after the First Lockup Date and ending on the date that is eighteen (18) months following the IPO Date (the "**Second Lockup Date**"), conduct any Restricted Activities other than Restricted Activities with respect to up to fifty percent (50%) of the Lockup Securities, in the aggregate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) during the period commencing on the day after the Second Lockup Date and ending on the date that is two (2) years following the IPO Date, conduct any Restricted Activities other than Restricted Activities with respect to up to seventy-five percent (75%) of the Lockup Securities, in the aggregate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Miscellaneous.**

&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)*Amendment*. Except as amended hereby, the Agreement remains unmodified and in full force and effect. This Amendment may not be amended or modified, or any provision hereof waived, without the written consent of the Company and UTI.

&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)*Entire Agreement*. This Amendment and the Agreement (to the extent hereby amended), constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof.

&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)*Counterparts*. This Amendment may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement.

[*Signature page follows*]

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The undersigned hereby execute and deliver this Amendment as of the date first set forth above.

VERY TRULY YOURS,

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| | |
|:---|:---|
| **UBER TECHNOLOGIES, INC.** | **UBER TECHNOLOGIES, INC.** |
| By: | /s/ Odette Rodrigues |
| Name: | Odette Rodrigues |
| Title: | Vice President, Strategic Finance |
| ACKNOWLEDGED AND AGREED: | ACKNOWLEDGED AND AGREED: |
| **NEUTRON HOLDINGS, INC.** | **NEUTRON HOLDINGS, INC.** |
| By: | /s/ Wayne Ting |
| Name: | Wayne Ting |
| Title: | CEO |

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## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated March 19, 2026, except for Note 17, as to which the date is May 7, 2026, and the reverse stock splits described in Note 1 and the subsequent events described in Note 18, as to which the date is June 22, 2026, with respect to the consolidated financial statements of Neutron Holdings, Inc., included herein and to the reference to our firm under the heading "Experts" in the prospectus.

/s/ KPMG LLP

San Francisco, California

June 22, 2026

<br>