# EDGAR Filing Document

**Accession Number:** 0002104296
**File Stem:** 0001213900-26-062169
**Filing Date:** 2026-5
**Character Count:** 1382071
**Document Hash:** 2b7f8b617f46c57f394f5a83c11cbe99
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-062169.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001213900-26-062169

**CONFORMED SUBMISSION TYPE**: F-1

**PUBLIC DOCUMENT COUNT**: 43

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ticketplus Ltd.
- **CENTRAL INDEX KEY:** 0002104296
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** F-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296318
- **FILM NUMBER:** 261037286

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ALONSO DE CORDOVA 5320
- **STREET 2:** LAS CONDES
- **CITY:** SANTIAGO
- **PROVINCE COUNTRY:** F3
- **ZIP:** 00000
- **BUSINESS PHONE:** 56992996831

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ALONSO DE CORDOVA 5320
- **STREET 2:** LAS CONDES
- **CITY:** SANTIAGO
- **PROVINCE COUNTRY:** F3
- **ZIP:** 00000

**As filed with the Securities and Exchange Commission on May 28, 2026**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM F-1**<br> **REGISTRATION STATEMENT UNDER<br> THE SECURITIES ACT OF 1933**

**TICKETPLUS LTD.**

(Exact name of Registrant as specified in its charter)

**Not Applicable**

(Translation of Registrant's Name into English)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **7372** | **Not Applicable** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**Alonso de Córdova 5320, Piso 16**

**Las Condes, Región Metropolitana**

**Santiago, Chile**

**+1 (772) 240-6785**

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

**Cogency Global Inc.**

**122 East 42nd Street, 18th Floor**

**New York, NY 10168**

**(800) 221-0102**

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;***Copies to:*** | &nbsp;&nbsp;***Copies to:*** |
| &nbsp;&nbsp; Louis A. Bevilacqua, Esq.<br> **Bevilacqua PLLC**<br> 1050 Connecticut Avenue, NW, Suite 500<br> Washington, DC 20036<br> (202) 869-0888 | &nbsp;&nbsp; Lawrence Metelitsa, Esq.<br> Soyoung Lee, Esq.<br> **Lucosky Brookman LLP**<br> 101 Wood Avenue South, 5th Floor<br> Woodbridge, NJ 08830<br> (732) 395-4402 |

---

**Approximate date of commencement of proposed sale to public:** As soon as practicable after this Registration Statement becomes effective.

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, 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 the same offering. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, 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 term "new or revised financial accounting standard"
refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

**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 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.**

**The information in this preliminary prospectus is not complete and may be changed. We 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 it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.**

**SUBJECT TO COMPLETION, DATED MAY 28, 2026**

**PRELIMINARY PROSPECTUS**

**Ticketplus Ltd.**

**[ ] Ordinary Shares**

This is the initial public offering of our ordinary shares of par value $0.0001 each, or the Ordinary Shares. We currently estimate that the initial public offering price will be between $[ ] and $[ ] per share.

Prior to the offering, there has been no public market for our shares. We plan to apply to list our Ordinary Shares on The Nasdaq Capital Market tier operated by The Nasdaq Stock Market LLC, or Nasdaq, under the symbol "TP". We believe that upon the completion of this offering, we will meet the standards for listing, and the closing of this offering is contingent upon such listing.

As of the date of this prospectus, Yethro Dinamarca Santelices, a member and Chair of our board of directors, held approximately 76.1% of the voting power of our outstanding share capital. Following this offering, based on an assumed public offering price of $[ ] per Ordinary Share (which is the low point of the estimated range of the initial public offering price shown above), and assuming that the underwriters do not exercise the over-allotment option, Yethro Dinamarca Santelices will retain controlling voting power in the Company based on having approximately [ ]% of all voting rights. As a result, we will be a "controlled company" under Nasdaq's rules, although we do not intend to avail ourselves of the corporate governance exemptions afforded to a "controlled company" under the rules of Nasdaq. See "*Risk Factors—Risks Related to This Offering and Ownership of Our Securities—As a 'controlled company' under the rules of Nasdaq, we may choose to exempt our company from certain corporate governance requirements that could have an adverse effect on our public shareholders.*" for more information.

We are an "emerging growth company," as that term is used in the Jumpstart Our Business Startups Act of 2012, and as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings. See "*Prospectus Summary—Implications of Being an Emerging Growth Company*."

We are a "foreign private issuer" as defined under the U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. See "*Prospectus Summary—Implications of Being a Foreign Private Issuer."*

**Investing in our securities involves a high degree of risk. Before buying any shares, you should carefully read the discussion of the material risks of investing in our securities under the heading "Risk Factors" beginning on page 10 of this prospectus.**

**Neither the U.S. Securities and Exchange Commission 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.**

No offer or invitation, whether directly or indirectly, is being or may be made to the public in the Cayman Islands (within the meaning of the Cayman Companies Act) to subscribe for any of our securities.

---

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

---

(1) Does not include additional compensation payable
to the underwriters. We have agreed to reimburse Bancroft Capital, LLC ,
as representative of the underwriters , or the representative, for certain expenses, and will
receive compensation in addition to underwriting discounts and commissions. See
" *Underwriting*" for additional information regarding underwriters'
compensation and offering expenses .

This offering is being conducted on a firm commitment basis. The underwriters are obligated to take and purchase all of the Ordinary Shares offered under this prospectus if any such shares are taken.

We have granted a 45-day option to the underwriters to purchase up to [ ] additional Ordinary Shares, representing 15% of the Ordinary Shares sold in this offering, solely to cover over-allotments, if any. If the underwriters exercise the option in full, the total underwriting discounts, commissions and non-accountable expenses payable, not including other offering expenses, will be $[ ], based on the initial public offering price of $[ ] per share and the total proceeds to us, before expenses, will be $[ ].

Delivery of the Ordinary Shares is expected to be made on or about [ ].

---

| | | |
|:---|:---|:---|
| **Roth Capital Partners** | **Bancroft Capital, LLC** | **MDB Capital** |

---

**The date of this prospectus is [ ]**

![](ea029197701_img7.jpg)

![](ea029197701_img8.jpg)

![](ea029197701_img9.jpg)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [Prospectus Summary](#a_001) | 1 |
| [Risk Factors](#a_002) | 10 |
| [Cautionary Statement Regarding Forward-Looking Statements](#a_003) | 32 |
| [Use of Proceeds](#a_004) | 33 |
| [Dividend Policy](#a_005) | 34 |
| [Capitalization](#a_006) | 35 |
| [Dilution](#a_007) | 36 |
| [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_008) | 37 |
| [Corporate History and Structure](#a_009) | 44 |
| [Business](#a_010) | 46 |
| [Management](#a_011) | 70 |
| [Principal Shareholders](#a_012) | 78 |
| [Related Party Transactions](#a_013) | 79 |
| [Description of Share Capital](#a_014) | 81 |
| [Shares Eligible for Future Sale](#a_015) | 92 |
| [Material Income Tax Considerations](#a_016) | 93 |
| [Enforceability of Civil Liabilities](#a_017) | 98 |
| [Underwriting](#a_018) | 99 |
| [Expenses Related to this Offering](#a_019) | 102 |
| [Legal Matters](#a_020) | 103 |
| [Experts](#a_021) | 103 |
| [Where You Can Find More Information](#a_022) | 103 |
| [Financial Statements](#a_023) | F-1 |

---

i

**ABOUT THIS PROSPECTUS**

In this prospectus, unless the context indicates otherwise, "we," "us," "our," "our company," "the Company," "Ticketplus," and similar references refer to Ticketplus Ltd., an exempted company limited by shares incorporated in the Cayman Islands, and its subsidiaries.

You should rely only on the information contained in this prospectus or in any free writing prospectus we may authorize to be delivered or made available to you. Neither we, nor the underwriters have authorized anyone to provide you with different information. The information in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus, or any free writing prospectus, as the case may be, or any sale of Ordinary Shares.

For investors outside the United States: Neither we, nor the underwriters have done anything that would permit this offering or possession or distribution of this prospectus 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 Ordinary Shares and the distribution of this prospectus outside the United States.

We are incorporated in the Cayman Islands. Under the rules of the U.S. Securities and Exchange Commission (the "SEC"), we are currently eligible for treatment as a "foreign private issuer." As a foreign private issuer, we will not be required to file periodic reports and financial statements with the SEC as frequently or as promptly as domestic registrants whose securities are registered under the Securities Exchange Act of 1934, as amended, or the Exchange Act. See "*Prospectus Summary —Implications of Being a Foreign Private Issuer.*"

Our fiscal year end is December 31. References to a particular "fiscal year" are to our fiscal year ended December 31 of that calendar year. Our audited consolidated financial statements have been prepared and presented in accordance with IFRS.

All references in the prospectus to "U.S. dollars," "dollars," "USD" and "$" are to the legal currency of the United States.

We are responsible for the information contained in this prospectus. Certain market data and other statistical information contained in this prospectus are based on information from independent industry organizations, publications, surveys and forecasts. Some market data and statistical information contained in this prospectus are also based on management's estimates and calculations, which are derived from our review and interpretation of the independent sources listed above, our internal research and our knowledge of the live entertainment industry. While we believe such information is reliable, we have not independently verified any third-party information and our internal data has not been verified by any independent source.

We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of our business. This prospectus may also contain trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our use or display of third parties' trademarks, service marks and trade names or products in this prospectus is not intended to, and does not imply a relationship with, or endorsement or sponsorship by us. Solely for convenience, the trademarks, service marks and trade names referred to in this prospectus may appear without the®, TM or SM symbols, but the omission of such references is not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable owner of these trademarks, service marks and trade names.

ii

**PROSPECTUS SUMMARY**

 

*This summary highlights selected information contained elsewhere in this prospectus. This summary is not complete and does not contain all of the information that you should consider before deciding whether to invest in our securities. You should carefully read the entire prospectus, including the risks associated with an investment in our company discussed in the "Risk Factors" section of this prospectus, before making an investment decision. Some of the statements in this prospectus are forward-looking statements. See the section titled "Cautionary Statement Regarding Forward-Looking Statements."*

 

**Our Company**

**Overview**

We are a technology company focused on powering the live entertainment industry across Latin America. We provide a proprietary, full-stack event platform that supports event discovery, primary ticketing, access control, payments, analytics, and post-event insights for promoters, venues, sports organizations, and ticketing companies. Since our founding in 2014 in Chile, we have expanded through a dual business model strategy: (1) a full-operations model in Chile, our home market, where we act as the primary ticketing platform and deliver end-to-end infrastructure and services and (2) a white-label software-as-a-service, or SaaS, model where we license our platform to regional ticketing companies, venues, and promoters who operate under their own brands while using our technology. Our platform is designed to increase attendance and maximize revenue for our clients by combining reliable transaction processing with data-driven pricing, personalization, and conversion-optimized experiences.

We believe the Latin American live events market represents one of the most attractive growth opportunities globally, with smart ticketing (as defined below) adoption outpacing global averages and a market structure that remains highly fragmented versus North America and Europe. We believe our technology, localized operating expertise, and flexible commercial models position us to capture a greater share of the region's expanding value, while our capital-light white-label business will enable rapid, margin-accretive expansion.

The term "smart ticketing" refers to the integration of digital technology platforms across the full lifecycle of live event management, from event creation, inventory management, and dynamic pricing through distribution, transaction processing, real-time access control, cashless payments, and post-event analytics. Unlike traditional ticketing systems, which rely on physical tickets or basic online distribution with limited data capture and minimal operational integration, smart ticketing platforms are built on cloud infrastructure with mobile-first interfaces, QR code or NFC validation, multi-channel payment processing, AI-driven demand forecasting, and integrated operational tools that provide end-to-end event management capabilities. We use the term "smart ticketing market" to describe the segment of the broader live events industry that has adopted or is transitioning to these technology-enabled, data-driven platform solutions.

We do not compete on scale alone, but on adaptability and infrastructure depth. The Company's model is designed to operate where global incumbents face structural limitations, combining global-grade technology with local market understanding and operational flexibility. Ticketplus seeks to position itself as the underlying infrastructure of the live entertainment industry in Latin America, with the ambition to extend this role globally. The Company's expansion strategy is designed to begin leveraging its existing white-label ecosystem to identify consolidation and acquisition opportunities among operators already running on its platform. This approach is intended to significantly reduce integration and diligence risk, while reinforcing capital efficiency and scalability.

We believe with our robust technological foundation, proven scalability, and a growing data-driven ecosystem, we are positioned to become one of the leading technology platforms emerging from Latin America in the global capital markets—representing the convergence of engineering, live entertainment, and digital transformation.

**Our Business Model and Market Opportunity**

Ticketplus delivers a technology-driven platform that addresses the complete event lifecycle for promoters, venues, sports organizations, and cultural institutions across Latin America through two complementary business models that together create a scalable framework with broad market coverage.

We operate through two complementary business models:

● *Full Operation Model*: We act as the primary ticketing platform and deliver comprehensive infrastructure including online and mobile platforms, on-site equipment, trained field staff, payment processing, customer support, and analytics.

● *White-Label SaaS Model*: We license our proprietary technology platform to regional ticketing companies, venues, sports franchises, and promoters who operate under their own brands while leveraging our comprehensive software infrastructure.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended <br> December 31, 2025** | **Year Ended <br> December 31, 2025** | **Year Ended <br> December 31, 2024** | **Year Ended <br> December 31, 2024** |
|  | **Revenue** | **GMV** | **Revenue** | **GMV** |
| Full Operation Model | $27783205 | $159724804 | $16877264 | $106345908 |
| White-Label SaaS Model | $1679367 | $109148181 | $1085867 | $84891573 |
| **Total** | $**29462572** | $**268872985** | $**17963131** | $**191237481** |

---

The gross merchandise value (GMV) is the total face value of all tickets sold through the Company's platform, before any deductions for fees, refunds, or commissions, and regardless of revenue recognition treatment. Revenue constitutes a lower percentage of GMV within the White-Label SaaS Model than it does within the Full Operation Model due to the expanded scope of services included in the Full Operation Model; the more services we provide, the more revenue we receive. Accordingly, our Full Operation Model accounted for 94.3% of total revenue for the year ended December 31, 2025, and we are substantially dependent on this business model. However, both models are integral components of our service continuum and long-term growth strategy.

We serve a large and growing addressable market spanning primary ticketing service fees generated as a percentage of gross merchandise value flowing through our platform, recurring white-label SaaS licensing fees, and ancillary streams including access control hardware sales and leasing, data analytics services, and payment processing. We believe the fragmented nature of the Latin American ticketing landscape, as detailed in our industry analysis, creates significant consolidation and market share capture opportunities.

Our footprint covers 11 countries across North and South America, focusing on Latin America, with full operations in Chile, our home market, and white-label SaaS operations in Argentina, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Mexico, Paraguay, Peru, the United States, and Uruguay. Both the Company's Full Operation Model and White-Label SaaS Model are available and can be contracted across all markets where the Company operates. Chile is, as of the date hereof, the only market where clients contract the Full Operation Model, due to the Company's 12+ years of operations in that market, the maturity of client relationships, and the scale of the local events industry. We seek to expand usage of our Full Operation Model throughout all of the markets where we offer our white-label services.

This geographic distribution reflects our dual business model strategy, with direct operations in our home market where we have deepest operational capabilities and brand equity, combined with white-label partnerships in markets where established local players seek technological modernization. Our multi-country presence enables us to serve international promoters across many locations in their Latin American touring calendars while providing data visibility and operational insights across diverse markets that inform our platform development and competitive positioning.

Over the next 24 months, we intend to pursue white-label partnerships in new Latin American and other international markets, such as Bolivia, Brazil, Canada, Portugal, and Spain, while simultaneously focusing on converting our existing white-label partnerships throughout Latin American into full operations, subject to achievement of volume and profitability thresholds.

**Our Competitive Strengths**

We have identified several competitive strengths that we believe contribute to our success and differentiate us from our competitors.

●  ***Proprietary Full-Stack Platform Built In-House*** . Our platform is developed in-house with no reliance on third-party core infrastructure for ticketing, payments, access control, or business intelligence functionality.

●  ***Technology-Driven Client Success*** . Our platform is designed to improve key commercial performance metrics for our clients including conversion rates, sell-through velocity, and average transaction value.

●  ***Integrated Field Operations and Hardware Capabilities*** . We deliver end-to-end event services including on-site equipment deployment, trained field personnel, and operational expertise in venue management and access control.

●  ***White-Label SaaS as Strategic Growth Engine*** . Our white-label SaaS model represents our primary vehicle for market penetration and long-term scalable growth without the capital intensity, operational complexity, or geographical constraints inherent in full operation services.

●  ***Full Operation Selective Market Applications and Strategic Flexibility*** . When opportunities arise to convert white-label relationships into full operation presence through acquisition or organic expansion, we can execute with reduced integration risk and accelerated time-to-value compared to entering markets without existing technology infrastructure.

●  ***Local Market Expertise and Latin American Specialization*** . Our operational history in Latin America since 2014 provides expertise in navigating market characteristics that we believe create friction for global ticketing platforms.

●  ***Data Network Effects and Business Intelligence*** . Our scale across millions of tickets processed spanning thousands of events and multiple countries creates proprietary datasets that generate competitive advantages through network effects.

●  ***Cost Efficiency and Operating Leverage*** . Our technology architecture and operational model are designed to generate operating leverage as transaction volume scales.

**Our Growth Strategies**

The key elements of our strategy to expand our business include the following:

●  ***Core Market Consolidation*** . We are pursuing capital-efficient consolidation across Latin America by prioritizing rapid entry via white-label partnerships that create high switching costs and multi-year retention, while selectively deploying full operations in strong markets to capture superior economics and benefit from compounding network effects.

●  ***Strategic Partnerships and Content*** . We evaluate and structure strategic partnerships with content owners, promoters, and venues through our proprietary risk assessment framework, Ticketplus Risk, which allows us to pursue growth opportunities while maintaining portfolio discipline and appropriate risk exposure across diverse event categories and client relationships.

●  ***Strategic Mergers and Acquisitions*** . Our M&A strategy prioritizes acquiring companies already operating as white-label partners on our platform, leveraging full performance visibility to reduce integration and valuation risks with data-driven acquisition decisions. There are several challenges involved with this approach, including but not limited to, negotiation of terms, capital requirements, potential competition, and deploying local staff, equipment and infrastructure in new markets. To date, the substantial majority of our workforce is in Chile; therefore, we will need to employ, or contract for, local personnel for on-site execution services in each location where we do not already have such staff, which may limit our growth rate. We plan to address this limitation through a phased deployment approach that allows local presence to scale proportionally to transaction volumes in each market. The Company has not yet entered into any agreements, commitments, or understandings with respect to any particular acquisition, and there can be no assurance that the Company will identify or consummate any acquisition.

●  ***Product Innovation and AI*** . We are integrating AI across internal workflows and our platform, using machine learning for demand forecasting, pricing optimization, fraud detection, automated reconciliation, and customer segmentation, to enhance efficiency and decision-making and drive scalable, compounding performance improvements as our data network effects grow.

●  ***International Expansion*** . We are pursuing expansion beyond Latin America into markets with significant Hispanic populations and favorable regulatory regimes, such as Canada, Portugal, and Spain, with a focus on the North American Hispanic market, supported by strengthened compliance, payment processing, and operational capabilities.

**Our Risks and Challenges** 

Our prospects should be considered in light of the risks, uncertainties, expenses, and difficulties frequently encountered by similar companies. Our ability to realize our business objectives and execute our strategies is subject to risks and uncertainties, including, among others, the following:

● Our business depends on supply and demand for and continued occurrence of events and activities, such as sports, concerts, theater and other live events, and any decrease in the number of such events or the willingness of consumers to attend such events could have a material and adverse effect on our business, financial condition and results of operations.

● We may be adversely affected by extraordinary events, including public safety concerns or disruptions, mass-casualty incidents, acts of civil unrest, terrorist attacks, military actions, disease epidemics or other public health concerns (including any resurgence of the COVID-19 pandemic), natural disasters, and severe weather events.

● We face intense competition in the ticketing industry, and we may not be able to maintain or increase our current revenue, which could adversely affect our business, financial condition and results of operations.

● Our business depends on our ability to attract and retain ticket buyers, sellers and event partners, and any adverse changes in these relationships could adversely affect our business, financial condition and results of operation.

● Our brand and reputation are critical to our success and if we are not able to maintain and enhance our brand, our business, financial condition, and results of operation may be adversely affected.

● We depend on third-party technology infrastructure and service providers, and any disruption of or interference with our use of their services could adversely affect our business, financial condition and results of operations.

● We may not realize the expected benefits from business development initiatives, partnerships, or acquisitions.

● We rely on the experience and expertise of our senior management team, key technical employees and other highly skilled personnel and the failure to retain, motivate or integrate any of these individuals could have an adverse effect on our business, financial condition, results of operations and prospects.

● The success of our operations depends, in part, on the integrity of our systems and infrastructure, as well as affiliate and third-party computer systems, computer networks and other communication systems. System interruption and the lack of integration and redundancy in these systems and infrastructure may have an adverse impact on our business, financial condition and results of operations.

● Cybersecurity risks, data loss or other breaches of our network security may adversely affect our business and results of operations, if our information technology systems, or those of third parties with whom we conduct business, are compromised, and the processing, storage, use and disclosure of personal or sensitive information could give rise to liabilities and additional costs as a result of governmental regulation, or litigation.

● We are subject to political, economic, regulatory, and social risks inherent in operating a ticketing platform in Chile.

● Exchange rate fluctuations could negatively affect our financial condition.

● We may be required to collect additional sales taxes or be subject to other indirect tax liabilities in various jurisdictions, which could adversely affect our results of operations.

● Our failure to comply with existing laws, rules and regulations as well as changing laws, rules and regulations and other legal uncertainties, including as a result of lobbying by artists, teams and promoters, could adversely affect our business, financial condition and results of operations.

● Our processing of personal data and other sensitive information could give rise to liabilities as a result of governmental regulation, litigation, and conflicting legal requirements, including those relating to personal privacy rights.

● The requirements of being a public company may strain our resources.

● An active trading market for our Ordinary Shares may not develop and the trading price may fluctuate significantly.

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

● We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such we are exempt from certain provisions applicable to U.S. domestic public companies.

● As a foreign private issuer, we are permitted to rely on exemptions from certain Nasdaq corporate governance standards applicable to domestic U.S. issuers. This may afford less protection to holders of our shares.

● Our post-offering amended and restated memorandum and articles of association (our "amended and restated memorandum and articles of association") provide that the courts of the Cayman Islands will be the exclusive forums for certain disputes between us and our shareholders, which could limit our shareholders' ability to obtain a favorable judicial forum for complaints against us or our directors, officers or employees.

In addition, we face other risks and uncertainties that may materially affect our business prospects, financial condition, and results of operations. You should consider the risks discussed in "*Risk Factors*" and elsewhere in this prospectus before investing in our securities.

**Recent Developments**

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

On May 11, 2026, the Company entered into a new commercial loan with Banco Santander Chile for CLP$2,500,000,000 (approximately $2.6 million), payable in 48 monthly installments at a fixed rate of 0.73% per month, with the first installment due July 6, 2026 and the last due June 5, 2030.

***Recent Results (Unaudited)***

The below is a preliminary estimate regarding our GMV, net revenue, gross margin, EBITDA and EBITDA margin as of and for the three months ended March 31, 2026. This preliminary financial information is based upon our estimates and is subject to completion of our financial closing procedures. Moreover, this preliminary financial information has been prepared solely on the basis of information that is currently available to, and that is the responsibility of, management. Our independent registered public accounting firm has not audited nor reviewed, and does not express an opinion with respect to, this information. This preliminary financial information is not a comprehensive statement and remains subject to, among other things, the completion of our financial closing procedures, final adjustments, and completion of our internal review as of and for the three months ended March 31, 2026, which may materially impact the results and expectations set forth below.

The following tables present EBITDA and EBITDA margin, non-IFRS financial measures for the three months ended March 31, 2026. We define EBITDA as earnings before interest, taxes and depreciation and amortization. EBITDA is a supplemental performance measure that is not required by, or presented in accordance with, IFRS. EBITDA should not be considered an alternative to net income or any other performance measure derived in accordance with IFRS, or as an alternative to cash flows from operating activities or a measure of the Company's liquidity or profitability. Furthermore, these non-IFRS financial measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated financial statements that are necessary to run our business. We compensate for these limitations by providing a reconciliation of these non-IFRS financial measures to the related IFRS financial measures. We believe that the presentation of EBITDA and EBITDA margin is relevant and useful by enhancing the readers' ability to understand our operating performance.

---

| | |
|:---|:---|
|  | **For the three months ended<br> March 31,<br> 2026** |
| Total Platform Sales (GMV) | $107181990 |
| Net Revenue | $9486038 |
| Net Revenue Growth YoY | +41% |
| Gross Margin | 52.1% |
| EBITDA | $4234133 |
| EBITDA Margin | 44.6% |

---

---

| | |
|:---|:---|
|  | **For the three months ended<br> March 31,<br> 2026** |
| Net profit for the period (continuing operations) | $2058197 |
| (+) Income tax expense | $711322 |
| (+) Interest expense, net | $504053 |
| (+) Depreciation & amortization | $960561 |
| **(=) EBITDA** | $**4234133** |
| EBITDA Margin | 44.6% |

---

**Implications of Being an Emerging Growth Company**

Upon the completion of this offering, we will qualify as an "emerging growth company" under the Jumpstart Our Business Act of 2012, as amended, or the JOBS Act. As a result, we will be permitted to, and intend to, rely on exemptions from certain disclosure requirements. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, in the assessment of the emerging growth company's internal control over financial reporting. However, because our financial statements are prepared in accordance with IFRS as issued by the IASB, we are not eligible to take advantage of Section 107 of the JOBS Act which would otherwise allow an extended transition period for complying with new or revised financial accounting standards under Section 7(a)(2)(B) of the Securities Act.

We will remain an emerging growth company until the earliest of (i) the last day of the fiscal year during which we have total annual gross revenues of at least $1.235 billion; (ii) the last day of our fiscal year following the fifth anniversary of the completion of this offering; (iii) the date on which we have, during the preceding three year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which we are deemed to be a "large accelerated filer" under the Exchange Act, which could occur if the market value of our Ordinary Shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions provided in the JOBS Act discussed above.

**Implications of Being a Foreign Private Issuer**

Upon effectiveness of the registration statement of which this prospectus forms a part, we will be subject to the reporting requirements of the Securities Exchange Act of 1934 (the "Exchange Act") applicable to foreign private issuers. As a foreign private issuer, we are exempt from certain SEC rules applicable to U.S. domestic issuers. For example, we are not required to file quarterly reports on Form 10-Q, proxy statements on Schedule 14A or 14C, or current reports on Form 8-K. We have four months after fiscal year end to file our annual report on Form 20-F. We also present our financial statements in accordance with IFRS rather than U.S. GAAP. As a foreign private issuer, we are also exempt from Regulation FD (Fair Disclosure).

The Holding Foreign Insiders Accountable Act ("HFIAA"), enacted on December 18, 2025, amended Section 16(a) of the Exchange Act to require the directors and officers of foreign private issuers to file beneficial ownership and transaction reports with the SEC. Effective March 18, 2026, such directors and officers must file Form 3 (initial ownership), Form 4 (transaction reports), and Form 5 (annual reports for certain deferred transactions). However, such directors and officers remain exempt from the short-swing profit disgorgement provisions of Section 16(b) and the short sale prohibitions of Section 16(c). Beneficial owners of more than 10% of a foreign private issuer's equity securities who are not directors or officers remain exempt from Section 16 reporting but are subject to the beneficial ownership reporting requirements of Section 13(d).

As a result of these exemptions, you may receive less information and have fewer protections than shareholders of U.S. domestic reporting companies.

As a foreign private issuer, we are also permitted to follow home country corporate governance practices instead of certain Nasdaq listing rules applicable to U.S. domestic issuers, such as:

● Exemption from the requirement that our board of directors be comprised of a majority of independent directors;

● Exemption from the requirement that our compensation committee be composed entirely of independent directors; and

● Exemption from requirements that director nominees be selected or recommended by independent directors or a nominating committee comprised solely of independent directors.

We do not intend to rely on any home country corporate governance practices exemptions; however, we may choose to in the future. If we do rely on any in the future, our shareholders may not be provided with the benefits of certain corporate governance requirements of Nasdaq.

Additionally, we qualify as a "controlled company" under Nasdaq rules, which permits us to elect not to comply with certain corporate governance requirements, including: (i) having a majority independent board; (ii) having compensation determined by a compensation committee comprised solely of independent directors; and (iii) having director nominees selected by a majority of independent directors or a nominating committee comprised solely of independent directors. Although we do not currently intend to rely on the controlled company exemption, we may do so in the future.

**Our Corporate History and Structure**

We were incorporated in the Cayman Islands as Ticketplus Ltd., an exempted company limited by shares, on December 3, 2025. Ticketplus SpA, a joint stock company, was incorporated under the laws of Chile on December 29, 2014. Ticketplus Group SpA, a joint stock company, was incorporated under the laws of Chile on April 3, 2018, and became the sole shareholder of Ticketplus SpA. On December 15, 2025, we acquired all issued and outstanding share capital of Ticketplus Group SpA pursuant to a contribution agreement in which the shareholders of Ticketplus Group SpA became the shareholders of the Company and Ticketplus Group SpA became our wholly-owned subsidiary.

Ticketplus, Inc., a Delaware corporation, was incorporated on January 17, 2023, and is the wholly-owned subsidiary of Ticketplus SpA. Ticketplus Global IP LLC, a Delaware limited liability company, was formed on May 30, 2025, and is the wholly-owned subsidiary of Ticketplus, Inc. Ticketplus LLC, a Delaware limited liability company, was formed on June 5, 2025, and is the wholly-owned subsidiary of Ticketplus, Inc.

Our principal executive office is located at Alonso de Córdova 5320, Piso 16, Las Condes, Región Metropolitana, Santiago, Chile. The phone number of our executive office is +1 (772) 240-6785.

Our registered office is located at c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, PO Box 1348, Grand Cayman KY1-1108, Cayman Islands.

Our agent for service of process in the United States is Cogency Global Inc.,122 East 42nd Street, 18th Floor, New York, NY 10168, (800) 221-0102.

Our website can be found at www.ticketplus.com. The information contained on our websites is not a part of this prospectus, nor is such content incorporated by reference herein, and should not be relied upon in determining whether to make an investment in our securities.

**The Offering**

---

| | |
|:---|:---|
| Shares offered: | [ ] Ordinary Shares (or [ ] shares if the underwriters exercise the over-allotment in full). |
| Offering price: | We currently estimate that the public offering price will be between $[ ] and $[ ] per share. |
| Shares to be outstanding after this offering: <sup>(1)</sup> | [ ] Ordinary Shares (or [ ] shares if the underwriters exercise the over-allotment option in full). |
| Over-allotment option: | We have granted a 45-day option to the underwriters to purchase up to [ ] additional Ordinary Shares, representing 15% of the Ordinary Shares sold in this offering, at the public offering price, less the underwriting discount and commissions. |
| Use of proceeds: | We expect to receive net proceeds of approximately $[ ] million from this offering (or $[ ] million if the underwriters exercise the over-allotment option in full), based on an assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. <br>We intend to use the net proceeds from this offering for continued development and maintenance of our platform and related products and services, international expansion and strategic acquisitions, sales and marketing, and working capital and general corporate purposes. See "*Use of Proceeds*" for more information. |
| Risk factors: | Investing in our Ordinary Shares involves a high degree of risk. As an investor, you should be able to bear a complete loss of your investment. You should carefully consider the information set forth in the "*Risk Factors*" section beginning on page 10 before deciding to invest in our Ordinary Shares. |
| Lock-up: | We, all of our directors and officers, and the holders of 5% or more of our outstanding Ordinary Shares have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any of our Ordinary Shares or securities convertible into or exercisable or exchangeable for our Ordinary Shares for a period of 180 days after the date of this prospectus. For additional information regarding our arrangement with the underwriters, please see "*Underwriting*." |
| Trading market and symbol: | We plan to apply to list our Ordinary Shares on Nasdaq under the symbol "TP". The closing of this offering is contingent upon such listing. |

---

(1) The
number of Ordinary Shares outstanding immediately following this offering is based on 10,189,525 Ordinary
Shares outstanding as of the date of this prospectus and excludes:

● 2,000,000 Ordinary Shares that are reserved for issuance under the Ticketplus Ltd. 2026 Equity Incentive Plan, or the 2026 Plan.

Unless otherwise indicated, this prospectus reflects and assumes no exercise by the underwriters of their over-allotment option.

**Summary Consolidated Financial Information**

The following summary historical financial information should be read in conjunction with our consolidated financial statements and related notes included elsewhere in the prospectus and the information contained in "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" below.

The following summary consolidated financial data as of December 31, 2025 and 2024, and for the years then ended have been derived from our audited consolidated financial statements included elsewhere in this prospectus.

Our financial statements are prepared and presented in accordance with IFRS. Our historical results for any period are not necessarily indicative of our future performance.

---

| | | |
|:---|:---|:---|
| | **Years Ended <br> December 31,** | **Years Ended <br> December 31,** |
| <br>**Statements of Operations Data** | **2025** | **2024** |
| Revenue | $29462572 | $17963131 |
| Cost of revenue | (16979736) | (10023585) |
| Administrative expenses | (8567725) | (5835947) |
| Financial income | 90060 | 305955 |
| Financial costs | (1453913) | (1357931) |
| Exchange difference, net | (5284) | 9317 |
| Income before tax | 2545974 | 1060940 |
| Income tax expense | (302065) | (130123) |
| Net profit | $2243909 | $930817 |

---

---

| | | |
|:---|:---|:---|
| **Balance Sheet Data** | **As of <br> December 31,<br> 2025** | **As of<br> December 31,<br> 2024** |
| Cash and cash equivalents | $3980838 | $2000866 |
| Current assets | 13811740 | 4171332 |
| Total assets | 30633913 | 14202752 |
| Current liabilities | 11997505 | 2601404 |
| Total liabilities | 24987218 | 11171856 |
| Shareholders' equity | 5646695 | 3030896 |
| Total liabilities and shareholders' equity | $30633913 | $14202752 |

---

**RISK FACTORS**

*An investment in our securities involves a high degree of risk. You should carefully consider the following risk factors, together with the other information contained in this prospectus, before purchasing our Ordinary Shares. We have listed below (not necessarily in order of importance or probability of occurrence) what we believe to be the most significant risk factors applicable to us, but they do not constitute all of the risks that may be applicable to us. Any of the following factors could harm our business, financial condition, results of operations or prospects, and could result in a partial or complete loss of your investment. Some statements in this prospectus, including statements in the following risk factors, constitute forward-looking statements. Please refer to the section titled "Cautionary Statement Regarding Forward-Looking Statements".*

**Risks Related to Our Business and Industry**

***Our business depends on supply and demand for and continued occurrence of events and activities, such as sports, concerts, theater and other live events, and any decrease in the number of such events or the willingness of consumers to attend such events could have a material and adverse effect on our business, financial condition and results of operations.***

Ticket sales are sensitive to fluctuations in the number, frequency, pricing and popularity of sports, concerts, theater and other live events and activities offered by promoters, teams and facilities. We rely on third parties, such as artists, teams, promoters, producers, venues, and event organizers, to create, perform and anticipate public demand for sports, concerts, theater and other live events. Any unwillingness to tour, lack of availability of popular artists, decrease in the number of games or performances held or inability to anticipate public demand could limit our ability to generate revenue. Moreover, we are dependent on consumers' willingness and ability to attend these events. Generally, a large-scale event is defined as one that exceeds 5,000 attendees, where a mid-sized event would typically see between 500 and 5,000 attendees, any event with fewer than 500 attendees is defined as a small event. Large-scale events generate significant revenue volume per event given the number of attendees and ticket value processed. In addition to large-scale events, our platform serves thousands of small and mid-sized events. As of the year ended December 31, 2025, the Company has processed approximately 39,800 events, the vast majority of which are small and mid-sized.

Event volumes and attendance levels fluctuate due to factors beyond our control, including economic conditions and discretionary consumer spending, changes in consumer preferences, labor disputes (e.g., league work stoppages), scheduling, public safety concerns (such as the COVID-19 pandemic), health advisories, and venue availability. As such, reduced event supply or demand, whether temporary or prolonged, can decrease ticket sales, order sizes, and fee revenue on our platform.

Many of the factors affecting the number and availability of sports, concerts, theater and other live events are beyond our control. For example, we have no control over the tour schedules of music artists, and certain large international sporting events are not scheduled on an annual basis, which will affect the supply of tickets and demand for our business. Moreover, general economic conditions, rates of unemployment*,* fuel prices, interest rates, changes in tax rates and tax laws that impact companies or individuals, inflation, consumer trends, work stoppages, public health issues, geopolitical conflicts, natural disasters or public concerns over terrorism and security incidents impact the supply and demand for and continued occurrence of large-scale sports, concerts, theater and other live events.

***We may be adversely affected by extraordinary events, including public safety concerns or disruptions, mass-casualty incidents, acts of civil unrest, terrorist attacks, military actions, disease epidemics or other public health concerns (including any resurgence of the COVID-19 pandemic), natural disasters, and severe weather events.***

The occurrence and threat of extraordinary events, including public safety concerns or disruptions, intentional or unintentional mass-casualty incidents, acts of civil unrest, terrorist attacks, military actions, disease epidemics or other public health concerns (and governmental responses thereto), natural disasters, and severe weather events, may deter or prevent artists, sports teams, promoters, or event venues from performing, playing, or operating and substantially decrease the demand for live events. Event cancellations related to such events could also adversely affect our financial performance because we may be obligated to issue refunds or credits for previously purchased tickets.

The global COVID-19 pandemic and related economic shutdown resulted in significant disruption to our business, the entertainment and sporting industries, and the global economy in 2020 and 2021. The pandemic led governments and other authorities around the world to impose measures intended to control its spread, including travel bans, border closings and restrictions, business closures, quarantines, and vaccine requirements. During the height of the pandemic, many artists, sports teams, promoters, and event venues around the world ceased performances, games, and operations. Because we depend on live events in order to generate revenue from ticket sales, the decreased supply of and demand for such events during the pandemic negatively impacted our business and financial condition. While live events are now generally held at pre-pandemic scope and scale, it is difficult to predict any future outbreaks of disease epidemics (including any resurgence of the COVID-19 pandemic) and whether restrictions could again be imposed. Any of these circumstances could again adversely affect the live events industry and our business and financial condition.

***We face intense competition in the ticketing industry, and we may not be able to maintain or increase our current revenue, which could adversely affect our business, financial condition and results of operations.***

Though we do not currently operate a secondary ticket marketplace or generate material revenues from ticket resales, ticket purchasers may either choose to purchase tickets from us in the original issuance market or from sellers in the secondary market. As a result, we face competition from secondary ticketing platforms, including auction websites and other secondary ticketing marketplaces, as well as from other ticket sellers with online distribution capabilities.

We operate in the original issuance market, acting as an agent in the sale of tickets for third-party organized events. The original issuance market is highly fragmented. Based on publicly available data and market research, we believe that the largest player made up approximately 25% of the original issuance market in 2024, with the remaining coming from a very diverse group of national, regional and local original issuance ticketing service providers. The advent of new technology, particularly as it relates to online ticketing, has amplified this competition. Intensifying competition may require us to increase marketing and promotional spending, reduce fees, or invest more heavily in product development, any of which could adversely impact our results. The intense competition that we face in the ticketing industry could cause the volume of transactions on our marketplace to decline, which could adversely affect our business, financial condition and results of operations.

Other variables related to the competitive environment that could adversely affect our financial performance by, among other things, leading to decreases in overall revenue, event attendance, ticket prices and fees, or profit margins, include competitors' offerings that may feature more favorable terms or pricing; technological changes and innovations that we are unable to adopt or are late in adopting, which may provide more attractive alternatives than we currently offer and result in a loss of ticket sales or lower ticket fees; the availability of other entertainment options or ticket inventory selection and variety that we do not offer; and increased pricing in the primary ticket marketplace, which could reduce profits for secondary ticket sellers and decrease demand for our services.

***Our business depends on our ability to attract and retain ticket buyers, sellers and event partners, and any adverse changes in these relationships could adversely affect our business, financial condition and results of operation.***

 ****

Our business depends on obtaining and maintaining our deep and longstanding relationships with the parties that use our platform to buy and sell tickets, including individual fans who are ticket buyers and sellers, professional sellers, content rights holders, and event partners. Our revenue is currently derived from primary ticket sales commissions and our service and licensing fees through our full operation and white-label models. Our full operation model accounts for most of our total revenue and we are substantially dependent on this business model; however, both models are integral components of our service continuum and long-term growth strategy. We cannot assure you that we will be able to maintain existing relationships or establish new ones by attracting new buyers, sellers and event partners to our platform, and the failure to do so could have a material and adverse effect on our business, financial condition and results of operations.

In order to grow our revenue and our business, we must cost-effectively attract new buyers, sellers and event partners, and drive their repeat usage of our platform and services over time. Our ability to attract clients and customers substantially depends on delivering a reliable, user-friendly, secure, and feature-rich experience across devices and channels. In order to deliver a compelling value proposition to our clients and customers, we need to offer a large and diverse supply of ticket inventory and events. If we fail to maintain and enhance our platform, or if new features and enhancements are delayed, do not perform as intended, or do not meet user expectations, we could lose user engagement and traffic, which could reduce ticket volumes and revenue. Product development is complex, costly, and time-consuming; outcomes are uncertain and may require ongoing iteration.

***If we do not continue to maintain and improve our platform or develop successful new solutions and enhancements or improve existing ones, our business will suffer.***

Our ability to attract and retain sellers, buyers and distribution and event partners depends in large part on our ability to provide a user-friendly and effective platform, develop and improve our platform and introduce compelling new solutions and enhancements. Our industry is characterized by rapidly changing technology, new service and product introductions and changing demands of sellers, buyers and distribution and event partners. We spend substantial time and resources understanding such parties' needs and responding to them. Building new solutions is costly and complex, and the timetable for commercial release is difficult to predict and may vary from our historical experience. In addition, after development, sellers, buyers and distribution and event partners may not be satisfied with our enhancements or perceive that the enhancements do not adequately meet their needs. The success of a new solution or enhancement to our platform can depend on several factors, including timely completion and delivery, competitive pricing, adequate quality testing, integration with our platform, user awareness and overall market acceptance and adoption. If we do not continue to maintain and improve our platform or develop successful new solutions and enhancements or improve existing ones, our business, results of operations and financial condition could be harmed.

***Our brand and reputation are critical to our success and if we are not able to maintain and enhance our brand, our business, financial condition, and results of operation may be adversely affected.***

 ****

We believe that maintaining and enhancing our reputation and brand as not just a ticketing platform but as an all-in-one event solution serving promoters, venues, and brands is critical to retaining our relationships with our existing clients and customers and to our ability to attract new clients and customers. The successful promotion of our brand attributes will depend on a number of factors that we control and some factors outside of our control.

The promotion of our brand requires us to make substantial expenditures and management investment, which will increase as our market becomes more competitive and as we seek to expand our platform. To the extent these activities yield increased revenue, this revenue may not offset the increased expenses we incur. If we do not successfully maintain and enhance our brand and successfully differentiate our platform from competitive products and services, our business may not grow, we may not be able to compete effectively and we could lose sellers, buyers or distribution partners or fail to attract potential new clients or customers, all of which would adversely affect our business, results of operations and financial condition.

There are also factors outside of our control, which could undermine our reputation and harm our brand. Negative perception of our platform may harm our business, including as a result of complaints or negative publicity about us; the promotion on our platform of events that are deemed to be illness "superspreader" events by the media; our inability to timely comply with local laws, regulations and/or consumer protection related guidance; the use of our platform to sell fraudulent tickets; responsiveness to issues or complaints and timing of refunds and/or reversal of payments on our platform; actual or perceived disruptions or defects in our platform; security incidents; or lack of awareness of our policies or changes to our policies that clients, customers or others perceive as overly restrictive, unclear or inconsistent with our values.

Trust in our platform and in the tickets sold, and events managed, through it is essential. Negative publicity, customer complaints regarding ticket authenticity, fulfillment or access issues, refund timing, changes in policies, perceived lack of transparency, customer service shortcomings, security incidents, performance outages, or disputes with event stakeholders can harm our reputation and brand. Rebuilding trust can be costly and take time, and reputational harm may reduce buyer activity and event partner engagement.

***We integrate artificial intelligence and machine learning technologies across both our internal operations and our platform to enhance efficiency, improve decision-making, and deliver value to our clients.***

 ****

We use artificial intelligence and machine learning in various aspects of our business, including personalization, demand forecasting, pricing recommendations, fraud detection, and internal workflow automation. These technologies present risks including: (i) the quality and accuracy of outputs depend on the quality of underlying data, and flawed data could result in inaccurate recommendations or decisions; (ii) algorithmic bias could lead to unintended discrimination or unfair outcomes; (iii) evolving laws and regulations governing AI could increase compliance costs or limit our ability to use these technologies; (iv) we rely on third-party infrastructure, including AWS, for our machine learning capabilities, and disruptions to these services could affect our operations; and (v) there can be no assurance that our AI-enabled features will achieve the intended business benefits. Any of these risks could adversely affect our business, reputation, and results of operations.

The development and deployment of artificial intelligence and machine learning capabilities require significant investments in engineering talent, infrastructure, and ongoing maintenance, and there can be no assurance that such investments will generate the anticipated benefits or returns. If our artificial intelligence and machine learning initiatives fail to deliver the expected improvements in efficiency, cost savings, or customer outcomes, or if they require greater resources than anticipated, our business, financial condition, and results of operations could be adversely affected. Moreover, our competitors may develop or deploy more advanced or effective artificial intelligence capabilities, which could erode any competitive advantage we may derive from our current AI investments and diminish the value of our data network effects.

Our use of artificial intelligence also presents risks related to intellectual property, data privacy, and cybersecurity. Content generated or processed by artificial intelligence systems may inadvertently infringe the intellectual property rights of third parties, or our proprietary algorithms and models could be subject to claims of misappropriation or infringement. Training machine learning models on customer transaction data may implicate data privacy obligations under applicable laws, and the use of AI-powered customer support agents or other tools that interact with customer data could create new vectors for data breaches or unauthorized access. The proliferation of AI-powered cyberattack techniques may also increase the sophistication and frequency of attacks on our systems, and our AI-based fraud detection may not be sufficient to counter such evolving threats.

***The regulatory landscape governing artificial intelligence is rapidly evolving and remains uncertain across the multiple jurisdictions in which we operate.***

Artificial intelligence and machine learning technologies are subject to significant and rapidly evolving risks and uncertainties, any of which could adversely affect our business, financial condition, and results of operations. Our artificial intelligence and machine learning systems may produce inaccurate, biased, or otherwise flawed outputs or recommendations, which could lead to suboptimal business decisions, including incorrect pricing recommendations, failed fraud detection, or ineffective customer segmentation. Machine learning models are inherently dependent on the quality, accuracy, and representativeness of the data on which they are trained, and if our historical transaction data contains errors, biases, or gaps, our models may produce unreliable predictions or perpetuate those deficiencies at scale. Additionally, the performance of our machine learning models may degrade over time as market conditions, customer behaviors, or event dynamics change, requiring ongoing monitoring, retraining, and refinement that may not keep pace with evolving patterns.

Governments and regulatory authorities in various countries are actively developing new laws, regulations, and standards applicable to artificial intelligence, including requirements related to algorithmic transparency, explainability, bias auditing, data governance, and human oversight. Compliance with such emerging regulations, including any regulations adopted by the European Union, the United States, Chile, or other jurisdictions, could require significant changes to how we develop, deploy, and operate our AI systems, increasing our compliance costs and potentially limiting the functionality or availability of certain features. Our use of artificial intelligence for pricing recommendations or customer-facing personalization may also draw scrutiny from consumer protection regulators or give rise to claims of unfair, deceptive, or discriminatory practices, even if unintentional. If we fail to comply with applicable laws and regulations governing artificial intelligence, or if the legal or regulatory requirements change in ways that restrict our use of these technologies, we may face investigations, litigation, fines, penalties, or other enforcement actions, and may be required to modify or discontinue certain features or capabilities.

***Changes in internet search engine algorithms and dynamics, or any limitation or discontinuation of support by such search engines, could have an adverse impact on traffic for our sites and ultimately, our business, financial condition and results of operations.***

We rely heavily on internet search engines, such as Google, to generate traffic to our website, through a combination of organic and paid searches. Search engines frequently update and change the logic that determines the placement and display of results of a user's search, such that the purchased or algorithmic placement of links to our website can be adversely affected. In addition, a search engine could alter its search algorithms or results causing our website to be placed lower in organic search query results. A major search engine changing its algorithms in a manner that adversely affects the search engine ranking of our website or the websites of our partners, could adversely affect our business, financial condition, and results of operations. Furthermore, if we fail to successfully manage our search engine optimization, we could see a substantial decrease in traffic to our website, requiring us to increase spend to increase traffic, which could ultimately increase costs and adversely impact our business, financial condition and results of operations.

In addition, if we violate, or a search engine provider believes we have violated, the terms of service or if there is any change or deterioration in our relationship with these providers, the provider could limit or discontinue its support for our paid search results. If we were to experience future limitations or discontinuations, it could significantly reduce our ability to attract and retain buyers and sellers, which could materially and adversely affect our business, financial condition and results of operations.

***We depend on third-party technology infrastructure and service providers, and any disruption of or interference with our use of their services could adversely affect our business, financial condition and results of operations.***

Our platform and operations rely on third-party technology infrastructure and service providers, including cloud computing platforms, content delivery networks, payment processing services, communication and messaging providers, fraud prevention and identity verification systems, email service providers, and other critical technology services. We currently utilize Amazon Web Services, or AWS, for cloud infrastructure hosting and Cloudflare for content delivery and security services, among other third-party providers for payment processing, customer communications, fraud detection, and operational support. Any disruption, deterioration or discontinuation of service from these providers, whether due to system failures, cybersecurity incidents, natural disasters, changes in service terms, price increases, or the termination of our agreements with them, could significantly impair our ability to operate our platform, process transactions, communicate with customers, prevent fraudulent activities, and serve our customers.

We do not control the operation of the facilities of these third-party service providers, and such facilities may be vulnerable to damage or interruption from various sources. In the event of system failures, service disruptions, or termination of relationships with these providers, we may experience difficulties in migrating to alternative providers in a timely and cost-effective manner, or at all. Alternative providers may not be available on commercially reasonable terms, may not provide the same level of service or reliability, or may require significant time and resources to implement. Any transition between providers could result in operational disruptions, data loss, security vulnerabilities, inability to process payments or communicate with customers, or increased costs.

Moreover, if these providers were to change their pricing models, impose usage limitations, modify their service offerings, implement unfavorable terms of service, experience financial difficulties, be acquired by competitors, or cease providing services altogether, our costs could increase substantially and our ability to operate our platform could be materially impaired. Payment processors may also impose restrictions on our business model, hold or freeze funds, terminate their services, or subject us to additional compliance requirements or audits. Communication providers may experience deliverability issues, regulatory restrictions, or service degradation that could impair our ability to send critical transactional messages, ticket confirmations, or security notifications to customers. Fraud prevention systems may fail to detect fraudulent transactions or may generate excessive false positives that harm the customer experience and reduce conversion rates.

Our reliance on a limited number of infrastructure and service providers for critical functions also increases our exposure to concentration risk. Many of these providers serve multiple customers in our industry, and issues affecting their broader customer base could impact our operations. If we are unable to maintain our relationships with our current providers, identify and transition to suitable alternative providers, or effectively manage our vendor relationships and their associated risks, our business, financial condition, and results of operations could be materially and adversely affected.

***We may not realize the expected benefits from business development initiatives, partnerships, or acquisitions.***

We may pursue partnerships, integrations, and acquisitions to expand our offerings, geographic reach, or capabilities. Identifying, negotiating, integrating, and operating such initiatives involve uncertainties and risks, including regulatory approvals, integration complexity, cultural and systems alignment, retention of key personnel, unanticipated liabilities, and diversion of management attention. If we do not achieve the intended benefits in a timely manner, our business, financial condition and results of operations could be adversely affected.

***We may be adversely affected if we are unable to manage the risks associated with the growth of our international operations.***

We plan to continue growing our operations in part by continuing to expand our international operations. Accordingly, we are subject to risks associated with doing business internationally, including, but not limited to: complying with a variety of newly applicable, and often changing and/or conflicting, laws and regulations, including those relating to anti-bribery, anti-corruption, anti-money laundering, data protection, and privacy; obtaining required governmental approvals, permits, and licenses; obtaining and enforcing our intellectual property rights; staffing and managing our foreign operations; financial risks such as longer payment cycles, difficulty collecting accounts receivable, the impact of local and regional financial crises, and exposure to foreign currency exchange rate fluctuations; preferences by local consumers for local competitors; and political and economic instability.

We may also have difficulty expanding our business internationally because of the difficulties associated with obtaining local ticket supply and/or limited brand recognition, which could delay or limit the acceptance of our services by ticket buyers, sellers, and partners in new markets and increased marketing and other costs associated with establishing our brand. If we are unable to successfully expand internationally or manage the risks associated therewith, our business, financial condition, and results of operations could be adversely affected.

 ****

 **

***We may selectively enter into acquisitions, and we may experience operational and financial risks in connection with such acquisitions.***

 **

We may selectively seek potential acquisition targets to add complementary companies, products or technologies, such as live event companies, independent venues and regional ticketing platforms. The identification of suitable acquisition targets can be difficult, time-consuming and costly. We may be unable to identify suitable targets for acquisition or make acquisitions at favorable prices. If we identify a suitable acquisition candidate, our ability to successfully complete the acquisition would depend on a variety of factors, and may include our ability to obtain financing on acceptable terms and requisite government approvals. In connection with future acquisitions, we could take certain actions that could adversely affect our business, including, among other things:

● using a significant portion of our available cash and cash equivalents;

● issuing equity securities, which would dilute current shareholders' percentage ownership;

● incurring substantial debt, which could restrict our business and operations;

● incurring or assuming contingent liabilities, known or unknown;

● incurring amortization expenses related to intangibles; and

● incurring large accounting write-offs or impairments.

In addition, acquisitions involve inherent risks which, if realized, could adversely affect our business and results of operations, including those associated with:

● integrating the operations, financial reporting, technologies and personnel of acquired companies, including establishing and maintaining a system of internal controls appropriate for a public company environment;

● managing geographically dispersed operations;

● the diversion of management's attention from other business concerns;

● the inherent risks in entering markets or lines of business in which we have either limited or no direct experience;

● the potential loss of key employees, customers and strategic partners of acquired companies; and

● the impact of laws and regulations relating to antitrust at the state, federal and international levels, which could significantly affect our ability to complete acquisitions and expand our business.

***We have substantial indebtedness that could adversely affect our financial condition and results of operations.***

 ****

As of December 31, 2025, we had outstanding bank loans totaling approximately $13.2 million from Banco Estado, Banco Itaú, and Banco Santander. These loans bear interest at rates ranging from approximately 4.69% to 9.77%.

Our indebtedness could have important consequences, including, but not limited to, (i) requiring us to dedicate a substantial portion of our cash flow from operations to debt service payments, reducing funds available for other purposes, (ii) increasing our vulnerability to adverse economic and industry conditions, (iii) limiting our flexibility in planning for, or reacting to, changes in our business or the industry in which we operate, (iv) placing us at a competitive disadvantage compared to competitors with less debt, or (v) limiting our ability to obtain additional financing for working capital, capital expenditures, acquisitions, or other general corporate purposes.

Our loans are denominated in Chilean pesos and bear variable or fixed interest rates that could be affected by changes in Chilean monetary policy. An increase in interest rates would increase the cost of servicing our debt and could materially affect our financial condition and results of operations. We may not be able to refinance our existing indebtedness on favorable terms, or at all, when it matures. Our failure to comply with the terms of our debt agreements, or to repay or refinance our debt as it becomes due, could have a material adverse effect on our business, financial condition, and results of operations.

 ****

 ****

***We rely on the experience and expertise of our senior management team, key technical employees and other highly skilled personnel and the failure to retain, motivate or integrate any of these individuals could have an adverse effect on our business, financial condition, results of operations and prospects.***

Our success depends upon the continued service of our senior management team and key technical employees, as well as our ability to continue to attract and retain additional highly qualified personnel. Our future success depends on our continuing ability to identify, hire, develop, motivate, retain and integrate highly skilled personnel for all areas of our organization. Each of our executive officers, key technical personnel and other employees could terminate his or her relationship with us at any time. In addition, our compensation arrangements, such as our equity award programs, may not always be successful in retaining and motivating our existing employees. The loss of any member of our senior management team or key personnel might significantly delay or prevent the achievement of our business objectives and could harm our business and our relationships.

We face significant competition for qualified personnel, including members of management as well as key engineering, product development, design and marketing personnel. In particular, we face significant competition for talent from other technology and high-growth companies, which include both public and privately held companies. We may not be able to hire new employees quickly enough to meet our needs. To attract top talent, we have had to offer, and believe we will need to continue to offer, competitive compensation and benefits packages. We may also need to increase our employee compensation levels in response to competition. In addition, fluctuations in the price of our securities may make it more difficult or costly to use equity compensation to motivate, incentivize and retain our employees. If we fail to effectively manage our hiring needs or successfully integrate new hires, our efficiency, ability to meet forecasts and our employee morale, productivity and retention could suffer, which may adversely affect our business, financial condition, results of operations and prospects.

***The success of our operations depends, in part, on the integrity of our systems and infrastructure, as well as affiliate and third-party computer systems, computer networks and other communication systems. System interruption and the lack of integration and redundancy in these systems and infrastructure may have an adverse impact on our business, financial condition and results of operations.***

System interruption and the lack of integration and redundancy in the information systems and infrastructure, both of our own ticketing systems and other computer systems and of affiliate and third-party software, computer networks and other communications systems service providers on which we rely, may adversely affect our ability to operate websites, process and fulfill transactions, respond to client or customer inquiries and generally maintain cost-efficient operations. Similarly, due to our reliance on a network of technology systems, many of which are outside of our control, changes to interfaces upon which we rely or a reluctance of our counterparties to continue supporting our systems could lead to technology interruptions. Such interruptions could occur by virtue of natural disaster, malicious actions such as hacking or acts of terrorism or war, or human error. In addition, the loss of some or all of certain key personnel could require us to expend additional resources to continue to maintain our software and systems and could subject us to systems interruptions. Failure of our own or any affiliated third-party software infrastructure or systems may result in system instability, degradation in performance, or unfixable security vulnerabilities that could adversely impact both the business and the consumers utilizing our services.

While we have backup systems for certain aspects of our operations, disaster recovery planning by its nature cannot be sufficient for all eventualities. In addition, we may not have adequate insurance coverage to compensate for losses from a major interruption. If any of these adverse events were to occur, it could adversely affect our business, financial condition and results of operations.

 ****

***Cybersecurity risks, data loss or other breaches of our network security may adversely affect our business and results of operations, if our information technology systems, or those of third parties with whom we conduct business, are compromised, and the processing, storage, use and disclosure of personal or sensitive information could give rise to liabilities and additional costs as a result of governmental regulation, or litigation.***

Due to the nature of our business, we process, store, use, transfer and disclose certain personal or sensitive information about our customers and employees. Penetration of our network or other misappropriation or misuse of personal or sensitive information and data, including credit card information and other personal information, could cause interruptions in our operations and subject us to increased costs, litigation, inquiries and actions from governmental authorities, and financial or other liabilities.

We rely on third parties to process certain information in a variety of contexts (e.g., cloud-based infrastructure, encryption technology, and employee email) and to provide certain hardware, software, and applications. These third parties' information technology systems are subject to similar threats, and our ability to monitor their security practices is limited. If any of these third parties were to suffer a security incident or other interruption, we could experience adverse consequences. While we may be entitled to damages if a third party fails to satisfy its privacy- or security-related obligations to us, any award, assuming we are able to recover it, may be insufficient to cover our damages. Any future business acquisitions could also increase our exposure to these threats if our systems were negatively affected by vulnerabilities in an acquired entity's systems.

Further, ransomware attacks, and other security breaches are becoming increasingly prevalent and severe. The inability to protect information could lead to increased incidents of ticketing fraud and counterfeit tickets, significant interruptions in our operations, loss of data and income, reputational loss, and diversion of funds. Extortion payments may alleviate the negative impact of a ransomware attack, but we may be unwilling or unable to make such payments due to, for example, applicable laws or regulations prohibiting payments. Such incidents may occur in the future, resulting in unauthorized, unlawful, or inappropriate access to, inability to access, disclosure of, or loss of the sensitive, proprietary and confidential information that we handle.

Although we have devoted significant resources to the development of systems, practices, and policies designed to detect, mitigate, and remediate vulnerabilities in our information technology systems, protect against potential cybersecurity threats and their consequences, and protect customer and employee information and to prevent security breaches or incidents, such measures cannot provide absolute security or certainty. It is possible that advances in threat actor capabilities, new variants of malware, the development of new penetration methods and tools, inadvertent violations of company policies or procedures or other developments could result in a compromise of customer or employee information or a breach of the technology and security processes that are used to protect customer and employee information. We also cannot expect that we will not experience delays in developing and deploying remedial measures designed to address identified vulnerabilities. Any of the foregoing could adversely affect our business, financial condition, and results of operations.

***If we fail to adequately protect or enforce our intellectual property rights, our competitive position and our business could be adversely affected.***

Our proprietary technologies and information, including our software, informational databases and other components that make our services and platform, are critical to our success, and we seek to protect our technologies and information through a combination of intellectual property rights, including trademarks, domain names, and trade secrets, as well as through contractual restrictions with employees, clients, suppliers, affiliates and others. Despite our efforts, the steps we take to obtain, maintain, protect and enforce our intellectual property rights may be inadequate, and it may be possible for third parties to copy or otherwise obtain and use our intellectual property without authorization. In addition, third parties may independently and lawfully develop technologies and platforms substantially similar to ours or design around our intellectual property rights.

We seek to protect our trade secrets and proprietary know-how and technology methods through confidentiality agreements and other access control measures. While we generally enter into confidentiality and invention assignment agreements with our employees and consultants and enter into confidentiality agreements with any parties with whom we share confidential information, we cannot assure you that these agreements will be effective in controlling access to, or preventing unauthorized distribution, use, misuse, misappropriation, reverse engineering or disclosure of our proprietary information, know-how and trade secrets. These agreements may be breached, and we may not have adequate remedies for any such breach. Policing unauthorized use of our technologies, trade secrets and intellectual property may be difficult, expensive and time-consuming.

Failure to protect our technology or our intellectual property in a meaningful manner could result in erosion of our brand name or other intellectual property and could adversely affect our business, financial condition and results of operations. We may be required to spend significant resources to monitor and protect our intellectual property rights, and some violations may be difficult or impossible to detect. Litigation may be necessary in the future to enforce our intellectual property rights, protect our trade secrets or determine the validity and scope of proprietary rights claimed by others. Any litigation of this nature, regardless of outcome or merit, could result in substantial costs and diversion of management and technical resources, any of which could adversely affect our business, financial condition and results of operations.

***Our platform, services or processes could be subject to claims of infringement of the intellectual property of others.***

We cannot be certain that the operation of our business does not, or will not, infringe or otherwise violate the intellectual property rights of third parties. Our success depends, in part, on our ability to develop and commercialize our platform and services without infringing, misappropriating or otherwise violating the intellectual property rights of third parties. However, we may not be aware if our platform is infringing, misappropriating, or otherwise violating third-party intellectual property rights, and third parties may bring claims alleging such infringement, misappropriation or violation.

With respect to any intellectual property rights claim, we may have to seek a license to continue operations found to be in violation of such rights, which may not be available on favorable or commercially reasonable terms, if at all, and may significantly increase our operating expenses. Some licenses may be non-exclusive, and therefore our competitors 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 commercially reasonable terms, or at all, we may be required to develop, acquire or license alternative, non-infringing technology, which could require significant time (during which we would be unable to continue to offer our affected platform features), effort and expense and may ultimately not be successful. Any of these events would adversely affect our business, financial condition and results of operations.

Intellectual property claims, whether or not successful, could divert management's time and attention away from our business and harm our reputation and financial condition. In addition, the outcome of litigation is uncertain, and third parties asserting claims could secure a judgment awarding substantial damages, as well as injunctive or other equitable relief against us, which could require us to rebrand, redesign or reengineer our platform, products or services, and/or effectively block or otherwise impair our ability to effectively distribute, market or sell our products and services.

***We are subject to political, economic, regulatory, and social risks inherent in operating a ticketing platform in Chile.***

Operating in Chile exposes us to a range of country-specific risks that could adversely affect event demand, our transaction volumes, refund liabilities, operating costs, and our financial condition. Chile has experienced periods of social unrest, nationwide demonstrations, and policy uncertainty in recent years, including intermittent labor actions and disruptions to transport and public services. Any resurgence of social or political instability, constitutional or legislative changes, or shifts in public policy, such as tax reforms, labor rules, consumer protection measures, financial sector regulation, or digital platform oversight, could depress consumer confidence, lead organizers to postpone or cancel events, constrain venue operations, or increase our compliance and operating costs.

Macroeconomic conditions, including inflation, interest rate volatility, and fluctuations in the Chilean peso relative to the U.S. dollar, can impact discretionary spending on entertainment, as well as our pricing, settlement costs, and working capital needs. Changes in foreign exchange controls, cross-border settlement practices, or banking liquidity could affect the timing and cost of remittances to event organizers and refunds to end customers. Moreover, Chile's competition and consumer protection authorities actively enforce consumer rights, including with respect to cancellation policies, refund practices, pricing transparency, advertising standards, subscription renewals, and disclosure of fees. Regulatory developments or enforcement trends, such as stricter requirements from Servicio Nacional del Consumidor, or SERNAC, Chile's consumer protection agency, or sector-specific rules on ticketing, resale, bots, or anti-scalping, could require changes to our platform functionality, terms and conditions, and merchant practices, potentially resulting in higher chargebacks, penalties, or class-wide consumer remedies. Any perceived shortcomings in our customer service, refund handling during force majeure events, or clarity of disclosures could also trigger investigations, administrative actions, or reputational harm.

Our business is also vulnerable to sector-specific risks in live events. Event calendars are sensitive to artist availability, promoter financing, venue permits, public health considerations, and municipal restrictions (including noise, safety, and capacity limits). Cancellations or material changes in line-ups, schedules, seating, or capacity may increase refund obligations and reduce fee revenue. Chile can be prone to natural disasters, including earthquakes, wildfires, floods, volcanic activity, and severe weather. Such events can damage infrastructure, interrupt transportation and communications, and force postponements or cancellations across multiple venues and cities simultaneously, leading to spikes in customer support volumes, higher operational costs, and elevated refund and chargeback rates. Insurance carried by us, organizers, or venues may be insufficient or inapplicable in certain scenarios, and recovery under indemnities may be delayed or disputed.

***Exchange rate fluctuations could negatively affect our financial condition.***

 ****

Although we operate globally, our consolidated financial statements are presented in U.S. dollars. In addition to conducting business in Chile, we operate throughout North and South America. Therefore, we have revenues and expenses denominated in Chilean pesos and U.S. dollars, among others. As a result, our business and share price may be affected by fluctuations between the Chilean peso and the U.S. dollar and the U.S. dollar and the currencies of the other countries in which we operate, which may have a significant impact on our reported results of operations and cash flows from period to period.

***Inflation may adversely affect our business, financial condition and results of operations.***

 ****

The existence of inflation in the economy has resulted in, and may continue to result in, higher interest rates and capital costs, increased costs of labor, weakening exchange rates and other similar effects. Inflation can adversely affect us by affecting our costs as well as corporate spending and discretionary consumer spending as a result of inflation's impact on unemployment rates, interest rates, wages, fuel prices and tax law changes, among others. While we do not believe that inflation has had a material impact on our financial condition or results of operations to date, we have experienced, and continue to experience, increases in the prices of labor and other costs of doing business. To the extent we take measures to mitigate the impact of inflation, these measures may not be effective and our business, financial condition and results of operations could be adversely affected.

***We may be required to collect additional sales taxes or be subject to other indirect tax liabilities in various jurisdictions, which could adversely affect our results of operations.***

 ****

The application of indirect taxes, such as sales and use tax, value-added tax, goods and services tax, business tax and gross receipts tax, to our business is complex and an evolving issue. Many of the statutes and regulations that impose these taxes were established before the adoption and growth of the internet and e-commerce. An increasing number of jurisdictions are considering or have adopted laws or administrative practices that impose new tax measures, including revenue-based taxes, such as digital services taxes or online sales taxes, targeting social media marketplaces and online marketplaces. We may be subject to additional tax liabilities and related interest and penalties due to changes in indirect and non-income based taxes, including sales, consumption, value-added or other taxes on online marketplaces, resulting from changes in U.S. federal, state, local or international tax laws, administrative interpretations, decisions, policies and positions, results of tax examinations, settlements or judicial decisions, changes in accounting principles and changes to our business operations, as well as evaluation of new information that results in a change to a tax position taken in prior periods. The interpretation and implementation of these new or revised taxes could have an adverse impact on our business, financial condition and results of operations.

For example, the U.S. Supreme Court held in *South Dakota v. Wayfair* that a U.S. state may require an online retailer to collect sales tax imposed by the state for online sales, even if the retailer has no physical presence in that state, thus permitting a wider enforcement of such sales tax collection requirements. A successful assertion by one or more tax authorities requiring us to collect taxes in jurisdictions in which we do not currently do so or to collect additional taxes in a jurisdiction in which we currently collect taxes could result in substantial additional tax liabilities, including taxes on past sales, as well as penalties and interest and additional administrative expenses and/or limits on the scope of our business activities if we decide not to conduct business in particular jurisdictions, all of which could adversely affect our business, financial condition or results of operations.

***Industry and other market data used in this prospectus or in periodic reports that we may file in the future with the SEC, including those undertaken by us or our engaged consultants, may not prove to be representative of current and future market conditions or future results.***

This prospectus includes or refers to, and periodic reports that we may in the future file with the SEC may include or refer to, statistical and other industry and market data that we obtained from industry publications and research, surveys and studies conducted by third parties and surveys and studies that we undertook ourselves regarding the market potential for our current products. Although we believe that such information has been obtained from reliable sources, the sources of such data have not guaranteed the accuracy or completeness of such information. While we believe these industry publications and third-party research, surveys and studies are reliable, we have not independently verified such data. The results of this data represent various methodologies, assumptions, research, analysis, projections, estimates, composition of respondent pool, presentation of data and adjustments, each of which may ultimately prove to be incorrect, and cause actual results and market viability to differ materially from those presented in any such report or other materials.

**Risks Related to Government Regulation and Being a Public Company**

 ****

***We are subject to extensive governmental regulation, and we may be adversely affected if we fail to comply with applicable laws and regulations.***

Our operations are subject to federal, state, local, and international laws and regulations governing key aspects of our business such as advertising, anti-bribery, anti-corruption, anti-money laundering sanctions and export controls, competition, consumer protection, data protection, advertising and marketing, pricing and fee disclosure, unfair competition, ticketing and resale, accessibility, event safety and capacity, payments and money transmission, e-commerce, fantasy sports, intellectual property, sports gaming, ticketing, ticket resale, and unfair business practices. While we strive to conduct our business and operations in compliance with all applicable laws and regulations, there can be no assurance that a particular law or regulation will not be interpreted or enforced in a manner contrary to our understanding of it. These rules are frequently updated and can be interpreted inconsistently across jurisdictions. The promulgation of new and sometimes conflicting laws and regulations, as well as changes to existing laws and regulations or their interpretation, can make compliance more complex, costly, and challenging. Non-compliance, alleged non-compliance, or changes in law could result in investigations, inquiries, litigation, proceedings, and/or fines against us by governmental authorities and/or private actions brought by individuals which, if material, could adversely affect our business, financial condition, and results of operations.

***Our failure to comply with existing laws, rules and regulations as well as changing laws, rules and regulations and other legal uncertainties, including as a result of lobbying by artists, teams and promoters, could adversely affect our business, financial condition and results of operations.***

Artists, teams and promoters may attempt to disrupt the ticketing market through lobbying for such restrictions regarding ticketing policies or partnering with other ticketing marketplaces on an exclusive basis. Our failure to comply with these laws and regulations could result in fines and/or proceedings against us by governmental agencies and/or consumers, which, if material, could adversely affect our business, financial condition and results of operations. In addition, the promulgation of new laws, rules and regulations that restrict or otherwise unfavorably impact the ability or manner in which we participate in the ticketing marketplace industry would require us to change certain aspects of our business, operations and buyer and seller relationships to ensure compliance, which could decrease demand for services, reduce revenue, increase costs and/or subject us to additional liabilities or limit or inhibit our ability to operate, or our users' ability to continue to use, our platform. For example, New York amended its Arts and Cultural Affairs Law to require additional disclosures by ticket marketplaces and restricted a ticket marketplace's ability to charge fees for the e-delivery of tickets.

***Our platform might be used for illegal or improper purposes, all of which could expose us to additional liability, damage our brands and reputation, and harm our business.***

 ****

Our platform remains susceptible to potentially illegal or improper uses by clients or customers. Illegal or improper uses of our platform may include money laundering, terrorist financing, drug trafficking, illegal online gaming, other online scams, illegal sexually oriented services, phishing and identity theft, prohibited sales of pharmaceuticals, fraudulent sale of goods or services, posting of unauthorized intellectual property, unauthorized uses of credit and debit cards or bank accounts and similar misconduct. Clients or customers may also encourage, promote, facilitate or instruct others to engage in illegal activities. Despite measures we have taken to detect and lessen the risk of this kind of conduct, we cannot guarantee that these measures will stop all illegal or improper uses of our platform. Our business could be harmed if clients or customers use our system for illegal or improper purposes, which may expose us to liability as well as damage our brands and reputation, resulting in harm to our results of operations and future prospects. At the same time, if the measures we have taken to guard against these activities are too restrictive and inadvertently screen proper transactions, or if we are unable to apply and communicate these measures fairly and transparently, or if we are perceived to have failed to do so, this could diminish the experience of clients and customers, which could harm our business, financial condition, results of operations and future prospects.

Due to the risk of our platform being used for illegal or illicit activity, any perceived or actual breach of compliance by us with respect to anti-money laundering, or AML, laws, rules and regulations, including the Bank Secrecy Act, USA Patriot Act and Title 18 U.S.C. Sections 1956-57 and 1960, could have a significant impact on our business. Many states have their own additional AML and money transmitter regulatory regimes and interpretations and applications of those legal principles are complex and varied. If the federal government or any state government took the position that we were a money services business or money transmitter, they could require us to register as such and obtain money transmitter licenses. Furthermore, should a federal or state regulator make a determination that we have operated as an unlicensed money services business or money transmitter, we could be subject to civil and criminal fines, penalties, costs, legal fees, reputational damage or other negative consequences, all of which may have an adverse effect on our business, financial condition and results of operations.

 ****

***Our processing of personal data and other sensitive information could give rise to liabilities as a result of governmental regulation, litigation, and conflicting legal requirements, including those relating to personal privacy rights.***

In the ordinary course of business, we collect, receive, store, protect, use, transmit, share, and dispose of, or process, personal data and other sensitive information. These activities subject us to numerous federal, state, and international laws and regulations, industry standards, external and internal privacy and security policies, and contractual requirements addressing privacy, data protection, and the processing of such data and information.

We conduct operations in Chile and are therefore subject to Chilean privacy and data protection laws and evolving regulatory expectations. Chile's Law No. 19.628 on the Protection of Private Life and related regulations which impose obligations regarding the lawful processing of personal data, including requirements to obtain consent or rely on other legal bases, to provide transparency to data subjects, and to respect data subject rights such as access, rectification, and deletion. Chilean authorities and courts have increasingly scrutinized the collection and use of personal data, including through consumer protection and constitutional actions, which may expose us to investigations, injunctions, damages, or other remedies. Chile is advancing a comprehensive reform of its data protection framework that, if enacted, is expected to establish a dedicated data protection authority, expand data subject rights, introduce enhanced accountability obligations (such as data protection impact assessments, vendor and cross-border transfer safeguards, and potentially mandatory breach notifications within defined timeframes), and increase penalties for violations. Any such reform could materially heighten our compliance and enforcement costs, particularly with respect to our processing of customer information (including identifiers, contact details, purchase histories, device and geolocation data, and payment-related data), our use of tracking technologies and targeted advertising, and our reliance on service providers and cloud infrastructure located outside Chile. Failure to comply with current or future Chilean data protection requirements, or to adapt promptly to changes in law or regulatory guidance, could result in government investigations, administrative sanctions, litigation, and reputational harm, and could adversely affect our financial condition and results of operations.

We operate internationally, which may subject us to additional liabilities in jurisdictions outside of Chile. U.S. federal and local governments have adopted a variety of data protection measures and security legislation, including laws relating to personal data privacy and data breach notification. Certain U.S. states also separately impose strict requirements on the processing of personal data, such as conducting data privacy impact assessments, and provide statutory fines for non-compliance. For example, the California Consumer Privacy Act, or the CCPA, applies to personal data of consumers, business representatives, and employees who are California residents, and requires businesses to provide specific disclosures in privacy notices and honor requests of such individuals to exercise certain privacy rights. These and any future similar laws are likely to increase our compliance costs and overall risk, particularly when they have conflicting requirements, and may require us to further modify our data processing practices and policies There has also been a noticeable uptick in class action litigation in the United States in which plaintiffs have utilized a variety of laws, including the Video Privacy Protection Act of 1988, state wiretapping laws, and other privacy laws and regulations, in relation to the use of tracking technologies such as cookies and pixels. This trend may lead legislatures to consider responsive regulation. These practices are also subject to increased challenges by class action plaintiffs. Our inability or failure to obtain consent for these practices could result in adverse consequences, including class action litigation and mass arbitration demands.

Additionally, certain European jurisdictions, including the United Kingdom, have enacted laws requiring that personal data be localized or limiting the transfer thereof to other jurisdictions. Other jurisdictions have adopted or may adopt similar data localization and/or cross-border data transfer restrictions. Although there are various mechanisms that may be used to transfer personal data out of the United Kingdom and the European Economic Area, or the EEA, in compliance with these restrictions, they are subject to legal challenges and there can be no assurance that we can satisfy or rely on them. If there were no lawful manner for us to transfer personal data from the United Kingdom or the EEA to other jurisdictions, or if the requirements for doing so become too onerous, we could face adverse consequences, including the interruption of our operations, the need to relocate our data processing activities, and penalties such as fines and injunctions. In addition, companies that transfer personal data out of the United Kingdom and the EEA have faced increased scrutiny from regulators and litigants, and certain of such companies have been ordered by European regulators to suspend or cease certain such data transfers for allegedly violating the European General Data Protection Regulation's, or the GDPR's, cross-border data transfer restrictions.

***Unfavorable outcomes in legal, regulatory and business disputes and proceedings, as well as unfavorable legislation, may adversely affect our business, financial condition and results of operations.***

Our results may be affected by the outcome of pending and future governmental/regulatory investigations and litigation. Unfavorable rulings in our legal proceedings may have an adverse impact on us that may be significant depending on the nature of the rulings. In addition, we are currently, and from time to time in the future may be, subject to various other claims, investigations, legal and administrative cases and proceedings (whether civil or criminal) or lawsuits by governmental agencies or private parties. Even if we adequately address issues raised by any potential investigation or proceeding, or if we are able to successfully defend a third-party lawsuit or counterclaim, we may have to devote significant financial and management resources to address these issues, which could harm our business, financial condition and results of operations.

In addition to concerns related to network and data security, the collection, transfer, use, disclosure, security and retention of personal data or sensitive information and other user data are governed by existing and evolving federal, state and international laws, as described above. We have expended significant capital and other resources to keep abreast of the evolving privacy landscape. However, due to the changes in the data privacy regulatory environment, we may incur additional costs and challenges to our business that restrict or limit our ability to collect, transfer, use, disclose, secure or retain personal data or sensitive information. These changes in data privacy laws may require us to modify our current or future services, programs, practices or policies, which may in turn impact the services available to our customers.

Additionally, some geographic markets regulate the secondary ticket market, such as by setting maximum resale prices, and any further regulation or unfavorable legislative outcomes imposing additional restrictions on ticket resales may adversely affect our industry and our business, financial condition and results of operations.

***We operate in international markets and are subject to risks associated with the legislative, judicial, accounting, regulatory, political and economic conditions specific to such markets, which could adversely affect our business, financial condition and results of operations.***

We provide services in various jurisdictions around the world, and we expect to continue to expand our international presence. We face, and expect to continue to face, additional risks in the case of our existing and future international operations, including:

● compliance with different (and sometimes conflicting) laws and regulatory standards related to payment processing and money transmission;

● limitations on the enforcement of intellectual property rights, including limitations and challenges with enforcing online "clickwrap" agreements, across multiple jurisdictions;

● adverse tax consequences due both to the complexity of operating across multiple tax regimes as well as changes in, or new interpretations of, international tax treaties and structures;

● expropriations of property and risks of renegotiation or modification of existing agreements with governmental authorities;

● diminished ability to legally enforce our contractual rights across jurisdictions;

● limitations on technology infrastructure, which could limit our ability to migrate international operations to a common ticketing system; and

● difficulties in managing operations and adapting to consumer desires due to distance, language and cultural differences.

While our ability to expand our international operations into new jurisdictions or further into existing jurisdictions will depend on limitations by federal, state and local statutes, rules, regulations, policies and procedures, such expansions will also depend in significant part, on our ability to identify potential acquisition candidates, joint venture or other partners, and enter into arrangements with these parties on favorable terms, as well as our ability to make continued investments to maintain and grow existing international operations. If the revenue generated by international operations is insufficient to offset expenses incurred in connection with the maintenance and growth of these operations, our business, financial condition and results of operations could be adversely affected.

Our business also must be conducted in compliance with applicable economic and trade sanctions laws and regulations. Investigations of alleged violations can be expensive and disruptive. While we have implemented and continue to implement compliance measures and controls, including geoblocking and other restricted party screening measures as well as policies and procedures to promote and achieve compliance with economic and trade sanctions laws, we may have been in the past and could in the future be, in violation of such laws particularly as the scope of such laws may be unclear and subject to changing interpretations. Despite our compliance efforts and activities, we cannot assure compliance by our employees or representatives for which we may be held responsible, and any such violation could adversely affect our reputation, business, financial condition and results of operations.

 ****

***We operate in non-U.S. markets and are subject to the U.S. Foreign Corrupt Practices Act, or the FCPA, as well as anti-corruption laws and regulations in other countries. Violations of these laws and regulations could have a material adverse effect on our business, financial condition and results of operations.***

We may be or become subject to various United States and non-U.S. anti-corruption laws, or Anti-Corruption Laws, including the FCPA and Chile's Law No. 20.393 on criminal responsibility of legal entities. These laws generally prohibit companies and their intermediaries from engaging in bribery or making other improper payments of cash (or anything else of value) to government officials and other persons in order to obtain or retain business. Our business operations also must be conducted in compliance with applicable economic sanctions laws and regulations, or Trade Controls, including rules administered by the United States Department of the Treasury's Office of Foreign Assets Control, the United States Department of State, the United States Department of Commerce, the United Nations Security Council and other relevant authorities.

We strive to conduct our business activities in compliance with applicable Anti-Corruption Laws and Trade Controls, and we are not aware of issues of historical noncompliance. However, we cannot guarantee full compliance currently or in the future. Violations of Anti-Corruption Laws or Trade Controls, or even allegations of such violations, could result in civil or criminal penalties, as well as adversely affect our business, financial condition and results of operations. Further, changes to the applicable laws and regulations, and/or significant business growth, may result in the need for increased compliance-related resources and costs.

***The requirements of being a public company may strain our resources.***

As a public company, we will be subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act, and the listing standards of Nasdaq. We expect that the requirements of these rules and regulations will continue to increase our legal, accounting and financial compliance costs, make some activities more difficult, time-consuming and costly, and place significant strain on our personnel, systems and resources. Management's attention may be diverted from other business concerns, which could adversely affect our business and operating results.

The Exchange Act requires that we file annual and other material reports with respect to our businesses, financial condition, and results of operations. In addition, we must establish the corporate infrastructure necessary for operating a public company, which may divert our management's attention from implementing our growth strategy, which could delay or slow the implementation of our business strategies, and in turn, negatively impact our financial condition and results of operations.

***Our internal controls over financial reporting currently may not meet all of the standards contemplated by Section 404 of the Sarbanes-Oxley Act, and failure to achieve and maintain effective internal controls over financial reporting in accordance with Section 404 could impair our ability to produce timely and accurate financial statements or comply with applicable regulations and have a material adverse effect on our business.***

As a public company, we will have significant requirements for enhanced financial reporting and internal controls. The process of designing and implementing effective internal controls is a continuous effort that will require us to anticipate and react to changes in our business and the economic and regulatory environments and to expend significant resources to maintain a system of internal controls that is adequate to satisfy our reporting obligations as a public company. If we are unable to establish or maintain appropriate internal financial reporting controls and procedures, it could cause us to fail to meet our reporting obligations on a timely basis, result in material misstatements in our consolidated financial statements, and harm our operating results. In addition, we will be required, pursuant to Section 404 of the Sarbanes-Oxley Act, to furnish a report by management on, among other things, the effectiveness of our internal control over financial reporting in the second annual report on Form 20-F following the completion of this offering. This assessment will need to include disclosure of any material weaknesses identified by our management in our internal control over financial reporting. The rules governing the standards that must be met for our management to assess our internal control over financial reporting are complex and require significant documentation, testing, and possible remediation through the implementation of new internal controls and procedures and hiring accounting or internal audit staff. Testing and maintaining internal controls may divert management's attention from other matters that are important to our business. If we are not able to complete our initial assessment of our internal controls and otherwise implement the requirements of Section 404 in a timely manner or with adequate compliance, we may not be able to certify as to the adequacy of our internal controls over financial reporting.

Matters impacting our internal controls may cause us to be unable to report our financial information on a timely basis and thereby be required to restate our financial statements or otherwise be subject to adverse regulatory consequences, including sanctions by the SEC or violations of applicable stock exchange listing rules, which may result in a breach of the covenants under future financing arrangements. If we fail to meet our public reporting obligations, investors could lose confidence in us and the reliability of our financial statements, which could have a negative effect on the trading price of our Ordinary Shares. Confidence in the reliability of our financial statements also could suffer if we report a material weakness in our internal controls over financial reporting. This could materially adversely affect us and lead to a decline in the market price of our Ordinary Shares.

***We will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.***

As a public company, we will incur significant legal, accounting and other expenses. The Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the listing requirements of Nasdaq and other applicable securities rules and regulations impose various requirements on public companies, including the establishment and maintenance of effective disclosure and financial controls and corporate governance practices. We expect that we will need to hire additional accounting, finance and other personnel in connection with our becoming, and our efforts to comply with the requirements of being, a public company, and our management and other personnel will need to devote a substantial amount of time towards maintaining compliance with these requirements. These requirements will increase our legal and financial compliance costs and will make some activities more time-consuming and costly. For example, we expect that the rules and regulations applicable to us as a public company may make it more difficult and more expensive for us to obtain director and officer liability insurance, which could make it more difficult for us to attract and retain qualified members of our board. We are currently evaluating these rules and regulations and cannot predict or estimate the amount of additional costs we may incur or the timing of such costs. These rules and regulations are often subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices.

***Our management team has limited experience managing a public company.***

Most 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 that is 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 harm our business, financial condition and results of operations.

**Risks Related to this Offering and Ownership of Our Securities**

***An active trading market for our Ordinary Shares may not develop and the trading price may fluctuate significantly.***

Prior to the completion of this offering, there has been no public market for our Ordinary Shares, and we cannot assure you that a liquid public market will develop. We have applied to list our Ordinary Shares on Nasdaq under the symbol "TP". The closing of this offering is contingent upon such listing. Although we anticipate our Ordinary Shares being approved for listing on Nasdaq, an active trading market for our Ordinary Shares may never develop or be sustained following this offering. The initial public offering price for our Ordinary Shares will be determined by negotiation between us and the underwriters based upon several factors, and we can provide no assurance that the trading price of the Ordinary Shares after this offering will not decline below the initial public offering price. As a result, investors in our securities may experience a significant decrease in the value of their shares. An inactive market may also impair our ability to raise capital to continue to fund operations by selling shares and may impair our ability to acquire other companies or assets by using our shares as consideration.

***We may not be able to maintain a listing of our Ordinary Shares on Nasdaq.***

Assuming that our Ordinary Shares are listed on Nasdaq, we must meet certain financial and liquidity criteria to maintain such listing. If we violate Nasdaq's listing requirements, or if we fail to meet any of Nasdaq's listing standards, our Ordinary Shares may be delisted. In addition, our board of directors may determine that the cost of maintaining our listing on a national securities exchange outweighs the benefits of such listing. A delisting of our Ordinary Shares from Nasdaq may materially impair our shareholders' ability to buy and sell our Ordinary Shares and could have an adverse effect on the market price of, and the efficiency of the trading market for, our Ordinary Shares.

If our Ordinary Shares are delisted from Nasdaq, we expect our Ordinary Shares would be quoted on an over-the-counter market. If this were to occur, our shareholders could face significant material adverse consequences, including limited availability of market quotations for the Ordinary Shares and reduced liquidity for the trading of the Ordinary Shares. In addition, we could experience a decreased ability to issue additional securities and obtain additional financing in the future. The delisting of our Ordinary Shares could therefore significantly impair our ability to raise capital and the value of your investment.

***Our operating results and share price may be volatile, and the market price of our Ordinary Shares after this offering may drop below the price you pay.***

Our operating results are likely to fluctuate in the future as a publicly traded company. In addition, securities markets worldwide have experienced, and are likely to continue to experience, significant price and volume fluctuations. This market volatility, as well as general economic, market, or political conditions, could subject the market price of our shares to wide price fluctuations regardless of our operating performance. You may not be able to resell your shares at or above the initial public offering price or at all. Our operating results and the trading price of our Ordinary Shares may fluctuate in response to various factors, including:

● market conditions in the broader stock market;

● actual or anticipated fluctuations in our financial and operating results;

● introduction of new products or services by us or our competitors;

● issuance of new or changed securities analysts' reports or recommendations;

● changes in debt ratings;

● results of operations that vary from expectations of securities analysts and investors;

● guidance, if any, that we provide to the public, any changes in this guidance or our failure to meet this guidance;

● strategic actions by us or our competitors;

● announcement by us, our competitors, or our vendors of significant contracts or acquisitions;

● sales, or anticipated sales, of large blocks of our Ordinary Shares;

● additions or departures of key personnel;

● regulatory, legal, or political developments;

● public response to press releases or other public announcements by us or third parties, including our filings with the SEC;

● litigation and governmental investigations;

● changing economic conditions;

● changes in accounting principles; and

● other events or factors, including those from natural disasters, pandemics, wars, acts of terrorism, or responses to these events.

These and other factors, many of which are beyond our control, may cause our operating results and the market price and demand for our Ordinary Shares to fluctuate substantially. While we believe that operating results for any particular period are not necessarily a meaningful indication of future results, fluctuations in our operating results could limit or prevent investors from readily selling their shares and may otherwise negatively affect the market price and liquidity of our shares. In addition, in the past, when the market price of a stock has been volatile, holders of that stock have sometimes brought securities class action litigation against the company that issued the stock. If any of our shareholders brought a lawsuit against us, we could incur substantial costs defending the lawsuit. Such a lawsuit could also divert the time and attention of our management from our business, which could significantly harm our profitability and reputation.

***Certain recent initial public offerings of companies with relatively small public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. Our Ordinary Shares may potentially experience rapid and substantial price volatility, which may make it difficult for prospective investors to assess the value of our Ordinary Shares.***

In addition to the risks addressed above under "—*Our operating results and share price may be volatile, and the market price of our Ordinary Shares after this offering may drop below the price you pay*," our Ordinary Shares may be subject to rapid and substantial price volatility. Recently, companies with comparably small public floats and initial public offering sizes have experienced instances of extreme stock price run-ups followed by rapid price declines, and such stock price volatility was seemingly unrelated to the relevant company's underlying performance. Although the specific cause of such volatility is unclear, our anticipated public float may amplify the impact the actions taken by a few shareholders have on the price of our Ordinary Shares, which may cause our share price to deviate, potentially significantly, from a price that better reflects the underlying performance of our business. Our Ordinary Shares may experience run-ups and declines that are seemingly unrelated to our actual or expected operating performance and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares. In addition, investors in our Ordinary Shares may experience losses, which may be material, if the price of our Ordinary Shares declines after this offering or if such investors purchase our Ordinary Shares prior to any price decline.

***If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business or our market, if they adversely change their recommendations regarding our Ordinary Shares, or if our operating results do not meet their expectations or any financial guidance we may provide, the trading price or trading volume of our Ordinary Shares could decline.***

The trading market for our Ordinary Shares will depend, in part, on the research and reports that securities or industry analysts publish about us or our business. We do not have any control over independent analysts. If we obtain independent securities or industry analyst coverage and if one or more of the analysts who covers us downgrades our Ordinary Shares, changes their opinion of our Ordinary Shares or publishes inaccurate or unfavorable research about our business, our share price would likely decline. If one or more of these analysts ceases coverage of us or fails to publish reports on us regularly, demand for our Ordinary Shares could decrease and we could lose visibility in the financial markets, which could cause our Ordinary Shares and trading volume to decline. In addition, we may be expected to provide various measures of financial guidance, and, if we do not meet any financial guidance that we may provide to the public, if we do not meet expectations of securities analysts or investors, or if our guidance is misunderstood by securities analysts or investors, the trading price of our Ordinary Shares could decline significantly. Our operating results may fluctuate significantly from period to period as a result of changes in a variety of factors affecting us or our industry, many of which are difficult to predict. As a result, we may experience challenges in forecasting our operating results for future periods.

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

Our board will have broad discretion in applying the net proceeds of this offering and investors will be relying on our judgment regarding the application of the net proceeds of this offering. See "*Use of Proceeds*." Pending their use, we may invest the net proceeds from the offering in a manner that does not produce income or that loses value. These investments may not yield a favorable return to our investors.

Based on our planned use of the net proceeds of the offering and our current cash, cash equivalents and current financial assets, we estimate that such funds will be sufficient to enable us to fund our operating expenses and capital expenditure requirements through at least the next 12 months from the date of this prospectus. We have based this estimate on assumptions that may prove to be incorrect, and we could use our available capital resources sooner than we currently expect. The failure by our management to apply these funds effectively could harm our business and financial condition.

***We have never paid cash dividends on our securities and do not intend to pay dividends for the foreseeable future.***

We have paid no cash dividends on any class of our Ordinary Shares to date, and we do not anticipate paying cash dividends in the near term. For the foreseeable future, we intend to retain any earnings to finance the development and expansion of our business, and we do not anticipate paying any cash dividends on our Ordinary Shares. Accordingly, investors must be prepared to rely on sales of their Ordinary Shares after price appreciation to earn an investment return, which may never occur. Investors seeking cash dividends should not purchase our Ordinary Shares. A Cayman Islands company may pay a dividend on its shares out of either profit or the share premium account, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business. Any determination to pay dividends in the future will be made at the discretion of our board of directors and will depend on our results of operations, financial condition, contractual restrictions, restrictions imposed by applicable law and other factors our board deems relevant.

***You will incur immediate and substantial dilution as a result of this offering.***

If you purchase shares in this offering, you will pay more for your Ordinary Shares than the amount paid by our existing shareholders for their shares on a per share basis. As a result, you will experience immediate and substantial dilution in net tangible book value per share in relation to the price that you paid for your shares. We expect the dilution as a result of the offering to be $[ ] per share to new investors purchasing our shares in this offering if the maximum number of shares being offered are sold, assuming a public offering price of $[ ] per share. For more information on the dilution you may suffer as a result of investing in this offering, see the section of this prospectus titled "*Dilution*."

***A significant portion of our Ordinary Shares may be sold into the public market in the near future, which could cause the market price of our Ordinary Shares to drop significantly, even if our business is doing well.***

Future sales of our Ordinary Shares in the public market after this offering and the availability of Ordinary Shares for future sale could adversely affect the market price of our Ordinary Shares prevailing from time to time. Certain of our Ordinary Shares currently outstanding will not be available for sale shortly after this offering due to contractual restrictions on transfers of our Ordinary Shares under certain lock-up agreements. Upon the expiration of these lock-up agreements, Ordinary Shares will be eligible for sale 180 days after the date of this prospectus, provided that Ordinary Shares held by our affiliates will remain subject to volume, manner of sale, and other resale limitations set forth in Rule 144 under the Securities Act, or Rule 144. Furthermore, we are authorized to issue up to 300,000,000 Ordinary Shares, of which [ ] shares will be outstanding following this offering. We will no longer be restricted under the terms of our underwriting agreement from issuing or offering additional Ordinary Shares after 180 days following the date of this prospectus. Sales of substantial numbers of Ordinary Shares, or the perception that these sales could occur, could adversely affect prevailing market prices for our Ordinary Shares and could impair our future ability to raise equity capital.

In addition, the Ordinary Shares subject to our 2026 Plan and the Ordinary Shares reserved for future issuance and delivery under the 2026 Plan will become eligible for sale in the public market in the future, subject to certain legal and contractual limitations. Following this offering, we intend to file one or more registration statements on Form S-8 with the SEC, covering our Ordinary Shares available for future issuance under the 2026 Plan. Upon effectiveness of such registration statements, any Ordinary Shares subsequently issued under such 2026 Plan will be eligible for sale in the public market, except to the extent that they are restricted by the lock-up agreements referred to above and subject to compliance with Rule 144 in the case of our affiliates. Sales of a large number of the Ordinary Shares issued under the 2026 Plan in the public market could have an adverse effect on the market price of our Ordinary Shares. If these additional Ordinary Shares are sold, or if it is perceived that they will be sold in the public market, the trading price of our Ordinary Shares could decline substantially.

***You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman Islands law.***

We are an exempted company incorporated under the laws of the Cayman Islands with limited liability. Our corporate affairs and the rights of shareholders are governed by our amended and restated memorandum and articles of association, by the Cayman Companies Act and the common law of the Cayman Islands. We will also be subject to the U.S. securities laws. The rights of shareholders to take action against our directors and us, actions by minority shareholders and the fiduciary duties and other responsibilities of our directors to us under Cayman Islands law are governed by our amended and restated memorandum and articles of association, by the Cayman Companies Act and by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands (as compared to the U.S. law) as well as from English common law. Decisions of the Privy Council (which is the final court of appeal for British overseas territories such as the Cayman Islands) are binding on a court in the Cayman Islands. Decisions of the English courts, and particularly the Supreme Court and the Court of Appeal, are generally of persuasive authority but are not binding in the courts of the Cayman Islands. Decisions of courts in other Commonwealth jurisdictions are similarly of persuasive but not binding authority. The rights of our shareholders and the fiduciary and other duties of our directors under Cayman Islands law are broadly similar to those in other common law jurisdictions, but there may be differences from what they would be under the statutes or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws than the United States, and provide significantly less protection to investors. In addition, if shareholders want to proceed against us outside of the Cayman Islands, they will need to demonstrate that they have the standing to initiate a shareholder derivative action in a federal court of the United States.

Shareholders of Cayman Islands exempted companies like us have no general rights under Cayman Islands law to inspect corporate records or to obtain copies of the register of members of these companies. Our directors have discretion under our amended and restated memorandum and articles of association to determine whether or not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged to make them available to our shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.

We have been advised by Mourant Ozannes (Cayman) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature.

Mourant Ozannes (Cayman) LLP has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign money judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

As a result of all of the above, our public shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of our board or controlling shareholders than they would as public shareholders of a United States company.

***You will be unable to call, or present proposals before, annual general meetings or extraordinary general meetings.***

The Cayman Companies Act does not provide shareholders with any general right to requisition a general meeting or to put any proposal before a general meeting. Although these rights may be provided in a company's articles of association, our amended and restated articles of association do not include these rights. Accordingly, you will not have the right to requisition a general meeting or present proposals for consideration at a general meeting.

***We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such we are exempt from certain provisions applicable to U.S. domestic public companies.***

 ****

Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers, including:

● the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q or current reports on Form 8-K;

● the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act;

● the sections of the Exchange Act requiring beneficial owners of more than 10% of a foreign private issuer's equity securities who are not directors or officers to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and

● the rules under Regulation FD governing selective disclosure rules of material nonpublic information.

Upon the completion of this offering, we will be required to file an annual report on Form 20-F within four months of the end of each fiscal year. In addition, we may publish our results on a quarterly basis as press releases, distributed pursuant to the listing rules of the exchange on which our securities are listed. Press releases relating to financial results and material events will also be furnished to the SEC on Form 6-K. However, the information we are required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. As a result, you may not be afforded the same protections or information that would be made available to you were you investing in a U.S. domestic issuer.

***As a foreign private issuer, we are permitted to rely on exemptions from certain Nasdaq corporate governance standards applicable to domestic U.S. issuers. This may afford less protection to holders of our shares.***

We are exempted from certain corporate governance requirements of Nasdaq by virtue of being a foreign private issuer. As a foreign private issuer, we are permitted to follow the governance practices of our home country, the Cayman Islands, in lieu of certain corporate governance requirements of Nasdaq. As result, the standards applicable to us are considerably different than the standards applied to domestic U.S. issuers. For instance, we are not required to:

● have a majority of the board be independent (although all of the members of the audit committee must be independent under the Exchange Act); or

● have a compensation committee and a nominating committee to be comprised solely of "independent directors".

We do not plan to take advantage of these home country exemptions; however, we may choose to in the future. See "*Prospectus Summary—Implications of Being a Foreign Private Issuer*" for more information. Accordingly, in the future, you may not have the same protections afforded to shareholders of other companies that are subject to these Nasdaq requirements.

***If we cease to qualify as a foreign private issuer, we would be required to comply fully with the reporting requirements of the Exchange Act applicable to U.S. domestic issuers, and we would incur significant additional legal, accounting and other expenses that we would not incur as a foreign private issuer.***

 ****

While we currently qualify as a foreign private issuer, the determination of foreign private issuer status is made annually on the last business day of an issuer's most recently completed second fiscal quarter. In the future, we would lose our foreign private issuer status if we fail to meet the requirements necessary to maintain our foreign private issuer status as of the relevant determination date. For example, if more than 50% of our securities are held by U.S. residents and more than 50% of either our directors or executive officers are residents or citizens of the United States, we could lose our foreign private issuer status.

The regulatory and compliance costs to us under U.S. securities laws as a U.S. domestic issuer may be significantly more than costs we may incur as a foreign private issuer. If we are not a foreign private issuer, we will be required to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC, which are more detailed and extensive in certain respects than the forms available to a foreign private issuer. We would be required under current SEC rules to prepare our financial statements in accordance with U.S. GAAP, rather than IFRS. Such conversion of our financial statements to U.S. GAAP would involve significant time and cost. In addition, we may lose our ability to rely upon exemptions from certain corporate governance requirements on U.S. stock exchanges that are available to foreign private issuers such as the ones described above and exemptions from procedural requirements related to the solicitation of proxies.

***There is a risk that we will be a passive foreign investment company for any taxable year, which could result in adverse U.S. federal income tax consequences to U.S. investors in our shares.***

In general, a non-U.S. corporation is a passive foreign investment company, or PFIC, for any taxable year in which (i) 75% or more of its gross income consists of passive income or (ii) 50% or more of the average quarterly value of its assets consists of assets that produce, or are held for the production of, passive income. For purposes of the above calculations, a non-U.S. corporation that owns at least 25% by value of the shares of another corporation is treated as if it held its proportionate share of the assets of the other corporation and received directly its proportionate share of the income of the other corporation. Passive income generally includes dividends, interest, rents, royalties and certain gains. Cash is a passive asset for these purposes.

Based on the expected composition of our income and assets and the value of our assets, including goodwill, which is based on the expected price of the shares in this offering, we do not expect to be a PFIC for our current taxable year. However, the proper application of the PFIC rules to a company with a business such as ours is not entirely clear. Because we will hold a substantial amount of cash following this offering, and because our PFIC status for any taxable year will depend on the composition of our income and assets and the value of our assets from time to time (which may be determined, in part, by reference to the market price of our shares, which could be volatile), there can be no assurance that we will not be a PFIC for our current taxable year or any future taxable year.

If we were a PFIC for any taxable year during which a U.S. investor holds shares, certain adverse U.S. federal income tax consequences could apply to such U.S. investor. See "*Material Income Tax Considerations—U.S. Federal Income Taxation Considerations—Passive Foreign Investment Company Consequences*" for additional information.

***We are an "emerging growth company" within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, this will make it more difficult to compare our performance with other public companies.*** 

Upon the completion of this offering, we will qualify as an "emerging growth company" under the Jumpstart Our Business Startups Act, or JOBS Act. As a result, we will be permitted to, and intend to, rely on provisions providing for certain exemptions from certain disclosure requirements. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002 in the assessment of an emerging growth company's internal control over financial reporting. However, because our financial statements are prepared in accordance with IFRS, we are not eligible to take advantage of Section 107 of the JOBS Act which provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. Since our financial statements are prepared in accordance with IFRS as issued by the IASB, they may not be comparable to those of companies that comply with US GAAP accounting standards.

We will remain an emerging growth company until the earliest of (i) the last day of the fiscal year during which we have total annual gross revenues of at least $1.235 billion; (ii) the last day of our fiscal year following the fifth anniversary of the completion of this offering; (iii) the date on which we have, during the preceding three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which we are deemed to be a "large accelerated filer" under the Exchange Act, which could occur if the market value of our common shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions provided in the JOBS Act discussed above.

Because we will be subject to ongoing public reporting requirements that are less rigorous than Exchange Act rules for companies that are not emerging growth companies, our shareholders could receive less information than they might expect to receive from more mature public companies. We cannot predict if investors will find our Ordinary Shares less attractive if we elect to rely on these exemptions, or if taking advantage of these exemptions would result in less active trading or more volatility in the price of our Ordinary Shares.

***As a "controlled company" under the rules of Nasdaq, we may choose to exempt our company from certain corporate governance requirements that could have an adverse effect on our public shareholders.***

Under Nasdaq's rules, a company of which more than 50% of the voting power is held by an individual, group or another company is a "controlled company" and may elect not to comply with certain corporate governance requirements, including, without limitation, (i) the requirement that a majority of the board of directors consist of independent directors, (ii) the requirement that the compensation of our officers be determined or recommended to our board of directors by a compensation committee that is comprised solely of independent directors, and (iii) the requirement that director nominees be selected or recommended to the board of directors by a majority of independent directors or a nominating committee comprised solely of independent directors.

Yethro Dinamarca Santelices, a member and the Chair of our board of directors, owns 7,756,267 of our outstanding Ordinary Shares, which amounts to 76.1% of total voting power before this offering. Following this offering, taking into consideration the Ordinary Shares expected to be offered hereby, [and certain restricted share grants that we expect to make in connection with the 2026 Plan upon the closing of this offering], even if 100% of such shares are sold, Yethro Dinamarca Santelices will retain controlling voting power in our company based on having approximately [ ]% of all voting rights. As a result, we will be a "controlled company" under Nasdaq's rules.

Although we currently do not intend to rely on the "controlled company" exemption, we could elect to rely on this exemption in the future if we are a controlled company after this offering. If we elected to rely on the "controlled company" exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. Our status as a controlled company could cause our Ordinary Shares to look less attractive to certain investors or otherwise harm our trading price.

***Certain of our major shareholders may have interests that are different from the interests of our other shareholders.***

Certain of our major shareholders may have interests that are different from, or are in addition to, the interests of our other shareholders. In particular, Yethro Dinamarca Santelices, a member and the Chair of our board of directors, may be deemed to beneficially own approximately [ ]% of the total voting power of our issued and outstanding shares after giving effect to this offering and Chien-Fu Chen Chen, our Chief Executive Officer and a member of our board of directors, may be deemed to beneficially own approximately [ ]% of the total voting power of our issued and outstanding shares after giving effect to this offering. There may be real or apparent conflicts of interest with respect to matters affecting such shareholders and their affiliates whose interests in some circumstances may be adverse to our interests. For so long as such shareholders continue to own a significant percentage of the voting power of our Ordinary Shares, they will be able to control the outcome of most of the matters requiring shareholder approval, including the election of our board and, through our board, decision-making with respect to our business direction and policies, including the appointment and removal of our officers; [mergers, de-mergers and other significant corporate transactions or changes of control of our company; changes to our amended and restated memorandum and articles of association; and our capital structure.] Accordingly, for such period of time, they will have significant influence with respect to our management, business plans and policies. The concentration of ownership could deprive you of an opportunity to receive a premium for your Ordinary Shares as part of a sale of our company and ultimately might affect the market price of our Ordinary Shares.

***If our Ordinary Shares become subject to the penny stock rules, it would become more difficult to trade our shares.***

The SEC has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00, other than securities registered on certain national securities exchanges or authorized for quotation on certain automated quotation systems, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or system. If we do not retain a listing on Nasdaq or another national securities exchange and if the price of our Ordinary Shares is less than $5.00, our Ordinary Shares could be deemed a penny stock. The penny stock rules require a broker-dealer, before a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document containing specified information. In addition, the penny stock rules require that before effecting any transaction in a penny stock not otherwise exempt from those rules, a broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive (i) the purchaser's written acknowledgment of the receipt of a risk disclosure statement; (ii) a written agreement to transactions involving penny stocks; and (iii) a signed and dated copy of a written suitability statement. These disclosure requirements may have the effect of reducing the trading activity in the secondary market for our Ordinary Shares, and therefore shareholders may have difficulty selling their shares.

***We will indemnify our directors and officers and may incur associated additional operating costs and liabilities.***

 ****

We, as a Cayman Islands exempted company, may indemnify our directors or officers and those of members of our corporate group, except with regard to actual fraud, willful default or willful neglect. We have or will enter into indemnification agreements with our and our corporate group members' directors and officers, pursuant to which we may agree to indemnify our directors and officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer. We may also maintain directors' and officers' liability insurance policies. We may therefore incur liability from the acts and omissions of our and our corporate group members' directors and officers.

 ****

Our obligation to indemnify our officers and directors may discourage shareholders from bringing a lawsuit against our officers or directors for breach of their duties. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors, even though such an action, if successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder's investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions.

***Our post-offering amended and restated memorandum and articles of association (our "amended and restated memorandum and articles of association") provide that the courts of the Cayman Islands will be the exclusive forums for certain disputes between us and our shareholders, which could limit our shareholders' ability to obtain a favorable judicial forum for complaints against us or our directors, officers or employees.***

Our amended and restated memorandum and articles of association also provide that, without prejudice to any other rights or remedies that we may have, each of our shareholders acknowledges that damages alone would not be an adequate remedy for any breach of the selection of the courts of the Cayman Islands as exclusive forum and that accordingly we shall be entitled, without proof of special damages, to the remedies of injunction, specific performance or other equitable relief for any threatened or actual breach of the selection of the courts of the Cayman Islands as exclusive forum.

This choice of forum provision may increase a shareholder's cost and limit the shareholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other employees, which may discourage lawsuits against us and our directors, officers and other employees. Any person or entity purchasing or otherwise acquiring any of our shares or other securities, whether by transfer, sale, operation of law or otherwise, shall be deemed to have notice of and have irrevocably agreed and consented to these provisions. There is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions in other companies' charter documents has been challenged in legal proceedings. It is possible that a court could find this type of provisions to be inapplicable or unenforceable, and if a court were to find this provision in our amended and restated memorandum and articles of association to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving the dispute in other jurisdictions, which could have adverse effect on our business and financial performance.

***Cayman Islands economic substance requirements may affect our business and operations.***

The Cayman Islands, together with several other non-European Union jurisdictions, have introduced legislation aimed at addressing concerns raised by the Council of the European Union and the OECD as to offshore structures engaged in certain activities which attract profits without real economic activity. The International Tax Co-operation (Economic Substance) Act (as amended) (the "Substance Act") imposes certain economic substance requirements for in-scope Cayman Islands entities which are engaged in certain geographically mobile business activities ("relevant activities.") As we are a Cayman Islands exempted company, compliance obligations include filing annual notifications, in which we need to state whether we are carrying out any relevant activities and if so, whether we have satisfied economic substance tests to the extent required under the Substance Act. Based on the current interpretation of the Substance Act, we believe that our Company is a pure equity holding company as it only holds equity participations in other entities and only earns dividends and capital gains. Accordingly, for so long as our company is a "pure equity holding company", it is only subject to the minimum substance requirements, which require us to (i) comply with all applicable filing requirements under the Cayman Companies Act; and (ii) have adequate human resources and adequate premises in the Cayman Islands for holding and managing equity participations in other entities. However, there is no assurance that we will not be subject to additional requirements under the Substance Act. Failure to satisfy applicable requirements may subject us to penalties under the Substance Act.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts are forward-looking statements. The forward-looking statements are contained principally in, but not limited to, the sections entitled "*Prospectus Summary*," "*Risk Factors*," "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and "*Business*." These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

● our goals and strategies;

● our future business development, financial condition and results of operations;

● our projected revenues, profits, earnings and other estimated financial information;

● our ability to secure additional funding necessary for the expansion of our business;

● the growth of and competition trends in our industry;

● our expectations regarding the popularity, demand for, and market acceptance of, our products and of our platform;

● our ability to maintain strong relationships with our customers, clients and service suppliers;

● our ability and third parties' abilities to protect intellectual property rights;

● our expectation regarding the use of proceeds from this offering;

● fluctuations in general economic and business conditions in the markets in which we operate; and

● relevant government policies and regulations relating to our industry.

In some cases, you can identify forward-looking statements by terms such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the heading "*Risk Factors*" and elsewhere in this prospectus. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

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 investors 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 forms a part with the understanding that our actual future results, levels of activity, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

**USE OF PROCEEDS**

After deducting the estimated underwriters' discounts, commissions and offering expenses payable by us, we expect to receive net proceeds of approximately $[ ] from this offering (or approximately $[ ] if the underwriters exercise the over-allotment option in full), based on an assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus.

We intend to use the net proceeds from this offering as follows:

● approximately 25% of the net proceeds for continued development and maintenance of our platform and related products and services, including investments in our ticketing infrastructure, payment processing capabilities, and data analytics systems;

● approximately 40% of the net proceeds for international expansion and strategic acquisitions, including potential acquisitions of complementary ticketing businesses, venue management systems, or technology companies, subject to negotiation, due diligence, and customary closing conditions; however, the Company has not yet entered into any agreements, commitments, or understandings with respect to any particular acquisition, and there can be no assurance that the Company will identify or consummate any acquisition;

● approximately 20% of the net proceeds for sales and marketing, including initiatives to accelerate customer acquisition and expand our presence across existing and new markets (including, without limitation, Latin America, North America, and Europe); and

● approximately 15% of the net proceeds for working capital and general corporate purposes.

Each $1.00 increase or decrease in the assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus, would increase or decrease the net proceeds that we receive from this offering by approximately $[ ], assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting the estimated underwriting discounts and commissions payable by us.

The foregoing represents our current intentions to use and allocate the net proceeds of this offering based upon our present plans and business conditions. Our management, however, will have broad discretion in the way that we use the net proceeds of this offering. Pending the final application of the net proceeds of this offering, we intend to invest the net proceeds of this offering in short-term, interest-bearing, investment-grade securities. See "*Risk Factors—Risks Related to This Offering and Ownership of Our Securities—We have broad discretion in the use of the net proceeds from the offering and may not use them effectively*."

**DIVIDEND POLICY**

We have never declared or paid cash dividends on our Ordinary Shares. 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 cash dividends in the near future. We may also enter into credit agreements or other borrowing arrangements in the future that will restrict our ability to declare or pay cash dividends. Any determination to pay dividends in the future will be made at the discretion of our board of directors and will depend on our results of operations, financial condition, contractual restrictions, restrictions imposed by applicable law and other factors our board deems relevant. Under Cayman Islands law, a Cayman Islands company may pay a dividend on its shares out of either profit or the share premium account, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business. Under our amended and restated memorandum and articles of association, each Ordinary Share will be entitled to dividends, pari passu, if, as and when dividends are declared by our board of directors, subject to any preferred dividend right of the holders of any preferred shares. See also "*Risk Factors— Risks Related to This Offering and Ownership of Our Securities—We have never paid cash dividends on our securities and do not intend to pay dividends for the foreseeable future*."

**CAPITALIZATION**

The following table sets forth our cash and capitalization as of December 31, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;(1) on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;(2) on an as adjusted basis to reflect the sale of [ ]
shares by us in this offering at an assumed initial public offering price of $[ ] per share, which is the low point of the
estimated range of the initial public offering price shown on the cover page of this prospectus, resulting in net proceeds to us of $[ ]
after deducting (i) underwriter commissions of $[ ] and (ii) our estimated other offering expenses of $[ ].

The as adjusted information below is illustrative only and our capitalization following the completion of this offering is subject to adjustment based on the initial public offering price of our Ordinary Shares and other terms of this offering determined at pricing. You should read this table together with our financial statements and the related notes included elsewhere in this prospectus and the information under "*Management's Discussion and Analysis of Financial Condition and Results of Operations*."

---

| | | |
|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** |
|  | **Actual** | **As Adjusted** |
| Cash and cash equivalents | 3980838 |  |
| Total long-term obligations | 10437280 |  |
| Non-current payables to related parties | 2552433 |  |
| Shareholders' equity |  |  |
| &nbsp;&nbsp;&nbsp;Class A ordinary shares of par value of $0.0001 each; 250,000,000 shares authorized, 189,525 shares issued and outstanding | 5000 |  |
| &nbsp;&nbsp;&nbsp;Class B ordinary shares of par value of $0.0001 each; 50,000,000 shares authorized, 10,000,000 shares issued and outstanding | 30000 |  |
| &nbsp;&nbsp;&nbsp;Other reserves | 3258649 |  |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 109137 |  |
| &nbsp;&nbsp;&nbsp;Accumulated earnings | 2243909 |  |
| Total shareholders' equity | 5646695 |  |
| **Total capitalization** | 18636408 |  |

---

If the underwriters exercise the over-allotment option in full, each of our as adjusted cash, share capital, total shareholders' equity and total capitalization would be $[ ], $[ ], $[ ] and $[ ], respectively.

Each $1.00 increase or decrease in the assumed initial public offering price of $[ ] per share, assuming no change in the number of shares to be sold, would increase or decrease the net proceeds that we receive in this offering and each of total shareholders' equity and total capitalization by approximately $[ ] (or $[ ] if the underwriters exercise the over-allotment option in full), after deducting (i) estimated underwriter commissions and (ii) offering expenses, in each case, payable by us.

The table above excludes the 2,000,000 Ordinary Shares that are reserved for issuance under the 2026 Plan.

**DILUTION**

If you invest in our Ordinary Shares, your interest will be diluted to the extent of the difference between the initial public offering price per Ordinary Share and our net tangible book value per Ordinary Share after this offering. Dilution results from the fact that the assumed initial public offering price per Ordinary Share is substantially in excess of the net tangible book value per Ordinary Share attributable to the existing shareholders for our presently outstanding Ordinary Shares.

Our net tangible book value was approximately $(10,984,073), or approximately $(1.08) per Ordinary Share, as of December 31, 2025. Our net tangible book value represents the amount of our total consolidated tangible assets (which is calculated by subtracting intangible assets and deferred tax assets from our total consolidated assets), less the amount of our total consolidated liabilities. Dilution is determined by subtracting net tangible book value per share after giving effect to this offering.

After giving effect to our sale of [ ] shares of our Ordinary Shares in this offering at an assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus, assuming no exercise of the over-allotment option and after deducting the estimated underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net tangible book value as of December 31, 2025 would have been approximately $[ ], or approximately $[ ] per share. This amount represents an immediate increase in net tangible book value of $[ ] per share to existing shareholders and an immediate dilution in net tangible book value of $[ ] per share to purchasers of our Ordinary Shares in this offering, as illustrated in the following table.

---

| | |
|:---|:---|
| Assumed initial public offering price per Ordinary Share | $|
| Historical net tangible book value per Ordinary Share as of December 31, 2025 |  |
| Pro forma as adjusted net tangible book value per Ordinary Share after this offering |  |
| Increase in net tangible book value per Ordinary Share attributable to new investors |  |
| Dilution per share to new investors purchasing Ordinary Shares in this offering | $|

---

If the underwriters exercise their over-allotment option in full, the net tangible book value per Ordinary Share, as adjusted to give effect to this offering, would be $[ ] per share, and the dilution in net tangible book value per share to new investors purchasing Ordinary Shares in this offering would be $[ ] per share.

A $1.00 increase or decrease in the assumed initial public offering price of $[ ] per share would increase or decrease the net tangible book value per share after giving effect to this offering by $[ ] per share and the dilution in net tangible book value per share to new investors in this offering by $[ ] per share, assuming no change to the number of Ordinary Shares offered by us as set forth on the cover page of this prospectus, no exercise of over-allotment option and after deducting underwriting commissions and estimated offering expenses payable by us.

The pro forma information discussed above is illustrative only. Our net tangible book value following the completion of this offering is subject to adjustment based on the actual initial public offering price of our Ordinary Shares and other terms of this offering determined at pricing.

The following table sets forth, as of December 31, 2025, the total number of Ordinary Shares previously issued and sold to existing investors, the total consideration paid for the foregoing and the average price per share paid, or to be paid, by existing owners and by the new investors. The calculation below is based on the assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus, before deducting estimated underwriter commissions and offering expenses, in each case payable by us, and assumes no exercise of the over-allotment option.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Total Consideration** | **Average<br> Price Per** |
|  | **Number** | **%** | **Amount** | **%** | **Share** |
| Existing shareholders | [ ] | [ ]% | $[ ] | [ ] | $[ ] |
| New investors | [ ] | [ ]% | $[ ] | [ ] | $[ ] |
| Total | [ ] | 100% | $[ ] | 100% | $[ ] |

---

The discussion and table above exclude the 2,000,000 Ordinary Shares that are reserved for issuance under the 2026 Plan.

To the extent that any outstanding options or warrants are exercised, new options, restricted shares or other securities are issued under our share-based compensation plans, or new preference shares are issued, or we issue additional Ordinary Shares in the future, there will be further dilution to investors participating in this offering.

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

 

*The following discussion and analysis summarizes the significant factors affecting our operating results, financial condition, liquidity and cash flows of our company as of and for the periods presented below. The following discussion and analysis should be read in conjunction with our financial statements and the related notes thereto included elsewhere in this prospectus. The discussion contains forward-looking statements that are based on the beliefs of management, as well as assumptions made by, and information currently available to, our management. Actual results could differ materially from those discussed in or implied by forward-looking statements as a result of various factors, including those discussed below and elsewhere in this prospectus, particularly in the sections titled "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements."*

 

*The consolidated financial statements for the years ended December 31, 2025 and 2024 are prepared pursuant to IFRS. As permitted by the rules of the SEC for foreign private issuers, we do not reconcile our financial statements to U.S. generally accepted accounting principles.*

 

**Overview**

Ticketplus is a technology company providing underlying infrastructure that powers live events across Latin America. The Company operates a proprietary, end-to-end platform integrating ticketing, payments, access control, and data analytics, enabling events of all sizes to operate on a unified technological foundation.

Ticketplus was founded to address what it saw as a structural gap in the live entertainment industry: access to enterprise-grade technology, operational reliability, and actionable data, which had historically been limited to large-scale events, leaving small and mid-sized promoters dependent on fragmented tools and manual processes.

The Company's platform was designed from inception to operate in complex, highly localized environments, integrating diverse payment methods, regulatory frameworks, and operational workflows. As a result, Ticketplus supports both full-service operations and software-based deployments, allowing clients to leverage the same core technology regardless of event size, geography, or operating model.

Through a combination of direct operations and white-label platform deployments, Ticketplus has expanded organically across 11 countries, positioning itself as a scalable infrastructure layer for the live entertainment ecosystem.

As platform adoption increases, we benefit from cumulative data, operational learning, and network effects that strengthen product performance, customer retention, and economic efficiency over time. This compounding dynamic, where each additional event improves the platform for all participants, creates a structural advantage that becomes increasingly difficult for new entrants or single-market competitors to replicate as scale grows.

**Recent Developments**

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

On May 11, 2026, the Company entered into a new commercial loan with Banco Santander Chile for CLP$2,500,000,000 (approximately $2.6 million), payable in 48 monthly installments at a fixed rate of 0.73% per month, with the first installment due July 6, 2026 and the last due June 5, 2030.

**Impact of COVID-19 Pandemic**

On March 11, 2020, the World Health Organization declared the novel coronavirus COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The COVID-19 pandemic and resulting government-mandated restrictions on public gatherings had a significant impact on the global live events industry and resulted in significant disruption to our business and financial condition, the entertainment and sporting industries, and the global economy in 2020 and 2021.

Our survival and recovery reflected strategic decisions and operational adaptability. We leveraged our relationships with municipalities across Chile to support public health initiatives and accelerated our development of streaming and digital event capabilities that have become permanent features of our platform. As governments began permitting events with restricted capacity, we enhanced our access control systems to support health and safety requirements. As the Latin American events market returned to growth in 2022 and accelerated through 2023-2024, we emerged with enhanced capabilities and stronger client relationships.

While live events are now generally held at pre-pandemic scope and scale, it is difficult to predict any future outbreaks of disease epidemics (including any resurgence of the COVID-19 pandemic) and whether restrictions could again be imposed. Any of these circumstances could again adversely affect the live events industry and our business and financial condition. See also "*Risk Factors*" and "*Business—COVID-19 Pandemic*" for more information.

**Principal Factors Affecting Our Financial Performance**

Our operating results are primarily affected by the following factors:

● our ability to acquire and retain new partnerships with performers and event organizers;

● our ability to offer competitive pricing;

● our ability to broaden product or service offerings;

● industry demand and competition;

● our ability to leverage technology and use and develop efficient processes;

● our ability to attract and retain talented employees and contractors; and

● market conditions and our market position.

**Results of Operations**

***Comparison of Years Ended December 31, 2025 and 2024***

The following table sets forth key components of our results of operations during the years ended December 31, 2025 and 2024.

---

| | | |
|:---|:---|:---|
|  | **Years Ended December 31,** | **Years Ended December 31,** |
|  | **2025** | **2024** |
|  | **% of Revenue** | **% of Revenue** |
| Revenue | 100.0% | 100.0% |
| Cost of revenue) | (57.6)% | (55.8)% |
| Administrative expenses | (29.1)% | (32.5)% |
| Financial income | \*% | 1.7% |
| Financial costs) | (4.9)% | (7.6)% |
| Exchange difference, net | (\*)% | \*% |
| Income before tax | 8.6% | 5.9% |
| Income tax expense | (1.0)% | (\*)% |
| Net profit | 7.6% | 5.2% |

---

\* Less than 1%

*Revenue*

The principal activities of the Company for the years ended December 31, 2025 and 2024 were the provision of ticketing technology solutions and live event management services across Latin America through its full operation and white-label SaaS business models. Revenue for the years ended December 31, 2025 and 2024 was $29,462,572 and $17,963,131, respectively, representing an increase of 64.0%. The increase was due to expanded operations across the Company's 11-country footprint and growth in ticketing transaction volumes for the year ended December 31, 2025 as compared to December 31, 2024.

 

*Cost of revenue*

Cost of revenue for the years ended December 31, 2025 and 2024 was $16,979,736 and $10,023,585, respectively, representing an increase of 69.4%. The increase was primarily due to higher cost of sales, from $8,462,105 for the year ended December 31, 2024, to $14,693,071 for the year ended December 31, 2025, associated with increased ticketing volumes, which increased cost of revenue as a percentage of revenue from 55.8% for the year ended December 31, 2024, to 57.6% for the year ended December 31, 2025.

 

 

*Administrative expenses*

Administrative expenses consisted of advertising, employee remuneration and benefits, rental expenses, utilities, depreciation, travel and entertainment and other miscellaneous expenses. Administrative expenses for the years ended December 31, 2025 and 2024 were $8,567,725 and $5,835,947, respectively, an increase of 46.8%. The increase was mainly due to higher amortization expense resulting from continued investment in software development, from $4,043,651 for the year ended December 31, 2024 to $7,043,909 for the year ended December 31, 2025, an increase of $3,000,258, and higher transaction processing costs, which represent payment gateway processing fees and bank transaction charges incurred in connection with the settlement of ticket sales proceeds and are driven by the volume and value of transactions processed through the Company's platform and include fees charged by third-party payment processors for each ticket sales transaction.

*Financial income*

Financial income consisted of interest earned on cash deposits and short-term investments. Financial income for the years ended December 31, 2025 and 2024 was $90,060 and $305,955, respectively, a decrease of 70.6%. The decrease was due to lower interest earned on term deposits.

*Financial costs*

Financial costs consisted of interest expense on debt financing and bank fees. Financial costs for the years ended December 31, 2025 and 2024 was $1,453,913 and $1,357,931, respectively, an increase of 7.1%. The increase was due to higher debt levels incurred to fund operational expansion and software development investments.

*Exchange difference, net*

Exchange difference, net, mainly consisted of monetary adjustments on provisional tax payments and other inflation-indexed adjustments. Exchange difference, net, for the years ended December 31, 2025 and 2024 was $(5,284) and $9,317, respectively. The change was mainly due to the reversal of inflation-indexed restatements on monthly provisional tax payments, which generated a loss of $(3,519) in the year ended December 31, 2025 compared to a gain of $7,613 in the year ended December 31, 2024, driven by changes in the Chilean Unidad de Fomento (UF) indexation applied to the Company's tax obligations.

 

*Income before tax*

Income before tax for the years ended December 31, 2025 and 2024 was $2,545,974 and $1,060,940, respectively, an increase of 140.0%. The increase was due to strong revenue growth of 64.0% combined with improved operational performance.

 

*Income tax expense* 

Income tax expense for the years ended December 31, 2025 and 2024 was $302,065 and $130,123, respectively, an increase of 132.1%. The increase was due to higher taxable income resulting from improved operating profitability.

 

*Net profit*

Net profit for the years ended December 31, 2025 and 2024 was $2,243,909 and $930,817, respectively, an increase of 141.1%. The increase was due to strong revenue growth of 64.0%, improved operational performance, and enhanced operating leverage.

**Liquidity and Capital Resources**

As of December 31, 2025, we had cash and cash equivalents of $3,980,838. While we have met our working capital requirements primarily through business operations, we have also benefited from operating expense advances made by related parties. As of December 31, 2025, loan amounts due to related parties totaled $2,552,433, consisting primarily of a loan from Argentina Real Estate 1 LLC, which is beneficially owned by Yethro Dinamarca Santelices, a member and the Chair of our board of directors. These loan balances mainly represent operating expenses paid on behalf of the Company and are non-trade, unsecured, and non-interest bearing. These related party advances constitute a supplemental source of liquidity in addition to operating cash flows and bank debt financing.

Management has prepared estimates of operations and believes that sufficient funds will be generated from operations and equity financings to fund our operations for at least the next twelve months. We may, however, in the future require additional cash resources due to changing business conditions, implementation of our strategy to expand our business, or other investments or acquisitions we may decide to pursue. If our own financial resources are insufficient to satisfy our capital requirements, we may seek to sell additional equity or debt securities or obtain additional credit facilities. The sale of additional equity securities could result in dilution to our shareholders. The incurrence of indebtedness would result in increased debt service obligations and could require us to agree to operating and financial covenants that would restrict our operations. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, could limit our ability to expand our business operations and could harm our overall business prospects.

The accompanying consolidated financial statements have been prepared on a going concern basis under which we are expected to be able to realize our assets and satisfy our liabilities in the normal course of business.

 ****

***Summary of Cash Flow***

The following table provides detailed information about our net cash flow for all financial statement periods presented in this prospectus.

---

| | | |
|:---|:---|:---|
| | **Years Ended December 31,** | **Years Ended December 31,** |
| | **2025** | **2024** |
| <br>**Statements of Operations Data** | **$** | **$** |
| Net cash provided by (used in) operating activities |  |  |
| Net cash provided by (used in) investing activities |  |  |
| Net cash provided by (used in) financing activities |  |  |
| Net increase (decrease) in cash |  |  |
| Cash and cash equivalents, beginning of period/year |  |  |
| Cash and cash equivalents, end of period/year |  |  |

---

To date, the Company met its working capital and other liquidity requirements primarily through its business operations.

Net cash provided by operating activities was $9,299,698 and $4,250,851 for the years ended December 31, 2025 and 2024, respectively. The increase in net cash provided by operating activities was primarily due to higher operating cash generation from increased ticketing volumes and significant increases in non-cash charges, principally depreciation and amortization of capitalized software development costs ($7,090,940 for the year ended December 31, 2025, compared to $4,085,846 for the year ended December 31, 2024).

Net cash used in investing activities was $12,850,936 and $9,970,805 for the years ended December 31, 2025 and 2024, respectively. The increase in net cash used in investing activities was primarily due to higher capital expenditures on software development and technology infrastructure investments.

Net cash provided by financing activities was $5,531,210 and $6,483,919 for the years ended December 31, 2025 and 2024, respectively. The decrease in net cash provided by financing activities was primarily due to lower proceeds from financial institutions ($4,741,815 for the year ended December 31, 2025, compared to $6,316,281 for the year ended December 31, 2024), partially offset by higher proceeds from related party loans ($789,395 for the year ended December 31, 2025, compared to $167,638 for the year ended December 31, 2024).

Please see "*Description of Share Capital—History of Securities Issuances*" for a description of our recent private placements of securities.

**Contractual Obligations and Commitments**

***Bank Loans***

As of December 31, 2025, we had outstanding bank loans totaling approximately $13.2 million, consisting of loans from Chilean banks Banco Estado, Banco Itaú, and Banco Santander. These loans bear interest at rates ranging from 4.69% to 9.77% per annum and are denominated in Chilean pesos and Unidades de Fomento ("UF"). Of this total, approximately $2.1 million is classified as current (due within one year) and approximately $10.4 million is classified as non-current. The loans have varying maturities extending through 2030. For additional details regarding our bank loans, see Note 11 to our consolidated financial statements included elsewhere in this prospectus.

**<u>As of December 31, 2025</u>**

**Book Value**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Creditor<br> Entity** | **Contract** | **Original<br> Currency** | **Interest Rates<br> (%)** | **Less<br> than 90<br> days** | **90 days<br> -<br> 1 year** | **Current<br> Bank<br> Loans** | **1-2 years** | **2-3 years** | **3-4 years** | **4-5 years** | **More<br> than 5<br> years** | **Non-<br> Current<br> Bank <br> Loans** | **Total<br> Bank <br> Loans<br> Carrying<br> Amounts** |
| Banco Estado | Loan | Peso | 9.00% | 102563 | 321741 | **424304** | 464706 | 508718 | 272350 |  |  | **1245774** | **1670078** |
| Banco Estado | Loan | Peso | 8.00% | 139172 | 431291 | **570463** | 617590 | 671045 | 727020 | 652426 |  | **2668081** | **3238544** |
| Banco ITAU | Loan | Peso | 8.45% | 61243 | 190703 | **251946** | 274394 | 298729 | 159295 |  |  | **732418** | **984364** |
| Banco Santander | Loan | Peso | 5.09% | 8679 | 26667 | **35346** | 37213 | 9605 |  |  |  | **46818** | **82164** |
| Banco Santander | Loan | UF | 4.69% | 14371 | 44095 | **58466** | 40548 |  |  |  |  | **40548** | **99014** |
| Banco Santander | Loan | Peso | 9.77% | 227943 | 716580 | **944523** | 1037628 | 1144040 | 1264248 | 449751 |  | **3895667** | **4840190** |
| Banco Santander | Loan | Peso | 8.00% | 80176 | 377921 | **458097** | 546779 | 600677 | 660518 | - |  | **1807974** | **2266071** |
| **Total** |  |  |  | **634147** | **2108998** | **2743145** | **3018858** | **3232814** | **3083431** | **1102177** |  | $**10437280** | $**13180425** |

---

**Contingencies**

We are currently not a defendant to any material legal proceedings, investigation, or claims.

**Off-Balance Sheet Arrangements**

Other than the financial guarantee contract issued by Ticketplus SpA in connection with the personal mortgage loan extended by Scotiabank Chile to Chien-Fu Chen Chen, our Chief Executive Officer and director, as described in "*Related Party Transactions—Guarantee*" and Note 14(c) to the consolidated financial statements included with this prospectus, the Company has no guarantees or restrictions outstanding as of December 31, 2025. The Company has initiated the process to release Ticketplus SpA from the financial guarantee contract, and expects to complete such release prior to the effectiveness of this Registration Statement. If, for any reason, the release cannot be completed prior to the effectiveness of this Registration Statement, then Chien-Fu Chen Chen has agreed to pay off the loan in its entirety prior to the effectiveness of this Registration Statement. As of December 31, 2024, the Company had no guarantees or restrictions outstanding.

**Quantitative and Qualitative Disclosures about Market Risk**

 ****

***Risk Management Overview***

We are exposed to various financial risks, mainly credit risk, liquidity risk, and currency risk. The below provides information about our exposure to each of these risks, our objectives, policies and processes for measuring and managing risk. Further quantitative disclosures are included throughout the consolidated financial statements included with this prospectus.

***Credit risk***

Credit risk refers to the possibility that a counterparty fails to meet its contractual obligations, leading to a financial loss for the Company and arises principally from accounts receivable and our cash held with banks and other financial intermediaries. As of December 31, 2025, we held a balance of $9,220,336 in trade and other receivables and as of December 31, 2024, we held a balance of $1,682,211.

The Company's accounts receivable primarily consist of amounts due from event organizers and venue operators under our full operation and white-label SaaS arrangements. Credit risk related to accounts receivable is mitigated by the nature of our business model, whereby ticket sale proceeds are typically collected from end consumers at the time of purchase and held by the Company until settlement with event organizers, net of our service fees. For white-label SaaS clients, we generally invoice monthly fees in advance, reducing exposure to non-payment.

The Company maintains cash deposits with reputable financial institutions in Chile and across our operating markets in Latin America. Cash balances may at times exceed insured deposit limits. The Company mitigates this risk by maintaining relationships with high-quality financial institutions and monitoring their creditworthiness. As of December 31, 2025, the Company had not experienced any losses related to its cash deposits.

***Liquidity risk***

Liquidity risk is the risk that the Company will be unable to meet its financial obligations as they fall due. The Company manages this risk through the continuous monitoring of projected and actual cash flow, maintaining sufficient cash balance and available lines of credit. As of December 31, 2025 and December 31, 2025 and 2024, the Company had adequate liquid resources to cover its short-term liabilities.

***Foreign exchange risk***

The Company enters into certain transactions in foreign currencies related to software licenses and technological services. Foreign exchange risk exposure is managed through the periodic assessment of the net foreign currency position, and, if required, does not rule out the use of hedging instruments. As of December 31, 2025 and December 31, 2025 and 2024, the net foreign currency exposure was not significant.

**Critical Accounting Policies and Estimates**

The following discussion relates to critical accounting policies for our company. The preparation of financial statements in conformity with IFRS requires our management to make assumptions, estimates and judgments that affect the amounts reported, including the notes thereto, and related disclosures of commitments and contingencies, if any. We have identified certain accounting policies that are significant to the preparation of our financial statements. These accounting policies are important for an understanding of our financial condition and results of operation. Critical accounting policies are those that are most important to the portrayal of our financial condition and results of operations and require management's difficult, subjective, or complex judgment, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Certain accounting estimates are particularly sensitive because of their significance to financial statements and because of the possibility that future events affecting the estimate may differ significantly from management's current judgments. We believe the following critical accounting policies involve the most significant estimates and judgments used in the preparation of our financial statements:

 ****

***Use of Estimates and Judgments***

The preparation of financial statements in conformity with IFRS requires management to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenues, and expenses during the period. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Areas in which management has made critical judgments in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements include the determination of useful life of fixed and intangible assets, accrued service revenue (revenue recognition), provisions for commitments acquired with third parties, risks arising from ongoing litigation, and recovery of accounts receivable from third parties. Information about key assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year are included in the notes to the financial statements included with this prospectus.

***Fair Value of Financial Assets***

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of our company. Unobservable inputs are inputs that reflect our company's assumptions about the factors that market participants would use in valuing the asset or liability. The fair value hierarchy consists of the following three levels of inputs that may be used to measure fair value:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — Inputs other than quoted prices included in Level 1 that are observable in the marketplace either directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3 — Unobservable inputs which are supported by little or no market activity.

***Revenue Recognition***

*Ticket sales*

We act as an agent in the sale of tickets for third-party organized events. As a consequence, we recognize as income the moment a ticket is issued and is transferred to the final client, which represents the satisfaction of the performance obligation.

● Performance obligation: Emission and delivery of the ticket to the final client.

● Moment of recognition: At the point in time where the ticket is issued.

● Price determination of the transaction: Agreed commission with the event organizer, net value of the ticket.

*Technological services for events*

We provide technological services to event organizers, including ticketing platforms, management of memberships, e-commerce, and the tools to control access.

● Performance obligations: They are individually identifiable according to the contracted service (for example, implementation of the platform, technical support, license agreement, etc.).

● Income recognition:

○ Punctual services (as implementation or configuration) are recognized in the moment that the service is delivered.

○ Continuous services (as support or licenses) are recognized linearly over time during the period of service.

○ Determination of price in the transaction is based on fixed or variable fees contractually agreed upon.

*Additional products sales*

 

In some cases, we have commercialized complementary products, such as parking spaces or other services associated with events.

● Performance obligation: Delivery of product or activation of additional service.

● Income recognition: At the moment that the client acquires the product.

● Acting as principal or agent is evaluated on a case-by-case basis. If the Company acts as principal (controls the good or service before transferring), gross income is recognized. If it acts as an agent, net income is recognized.

*Additional considerations*

Revenue is not recognized when significant uncertainties exist regarding the recoverability of the consideration.

Revenue is presented net of discounts, returns, and other commercial adjustments.

No multiple performance obligations requiring separate allocation of the transaction price are identified, except for complex technology contracts.

Revenue is measured at the fair value of the consideration received or receivable, excluding sales taxes and other amounts collected on behalf of third parties.

**CORPORATE HISTORY AND STRUCTURE**

Ticketplus Ltd. is a holding company incorporated under the laws of the Cayman Islands that through its subsidiaries operates as a technology company in the live entertainment industry, providing a proprietary, full-stack platform that integrates event discovery, primary ticketing, access control, payments, real-time analytics, and post-event insights.

In order to facilitate this initial public offering, we carried out a series of transactions to reorganize the legal structure of the Company in December 2025. As part of the reorganization, Ticketplus Ltd. was incorporated as an exempted company under the laws of the Cayman Islands on December 3, 2025.

Upon incorporation, one Class B Ordinary Share was issued and allotted to Mourant Nominees (Cayman) Limited, which share was repurchased by the Company and cancelled on December 15, 2025.

On December 15, 2025, we entered into a contribution agreement with Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, the shareholders of Ticketplus Group SpA, pursuant to which the shareholders contributed all issued and outstanding ordinary shares of Ticketplus Group SpA to Ticketplus Ltd. in consideration for the allotment and issuance by Ticketplus Ltd. of an aggregate of 10,000,000 Class B Ordinary Shares and 189,525 Class A Ordinary Shares. As a result, Ticketplus Group SpA became our wholly-owned subsidiary.

Ticketplus SpA, a joint stock company, was incorporated under the laws of Chile on December 29, 2014. Ticketplus Group SpA, a joint stock company, was incorporated under the laws of Chile on April 3, 2018, and became the sole shareholder of Ticketplus SpA.

Ticketplus, Inc., a Delaware corporation, was incorporated on January 17, 2023, and is the wholly-owned subsidiary of Ticketplus SpA. Ticketplus Global IP LLC, a Delaware limited liability company, was formed on May 30, 2025, and is the wholly-owned subsidiary of Ticketplus, Inc. Ticketplus LLC, a Delaware limited liability company, was formed on June 5, 2025, and is a wholly-owned subsidiary of Ticketplus, Inc. Neither Ticketplus, Inc., Ticketplus Global IP LLC, nor Ticketplus LLC has any material operations or assets. At the time of its formation, 45% of Ticketplus LLC was owned by Ticketplus, Inc., with the remaining 55% held by Giselle Gomez. On March 2, 2026, Ticketplus LLC delivered written notice to Giselle Gomez that it was exercising its right to redeem the outstanding 55% equity interest for a cash consideration of $200,000, pursuant to the Membership Interest Repurchase Right Agreement by and between Ticketplus LLC, and Giselle Gomez, dated as of October 15, 2025. As a result, as of March 17, 2026, Ticketplus LLC is now 100% owned by Ticketplus, Inc.

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

**The following diagram depicts our organizational structure, including our subsidiaries, following the completion of this offering. This diagram includes our current shareholders of Ordinary Shares, as a group, our controlling shareholders of Ordinary Shares, as a group, and the public shareholders that will receive Ordinary Shares in this offering, as a group.**

![](ea029197701_img2.jpg)

**BUSINESS**

**Overview**

We are a technology company focused on powering the live entertainment industry across Latin America. We provide a proprietary, full-stack event platform that supports event discovery, primary ticketing, access control, payments, analytics, and post-event insights for promoters, venues, sports organizations, and ticketing companies. Since our founding in 2014 in Chile, we have expanded through a dual business model strategy: (1) a full-operations model where we act as the primary ticketing platform and deliver end-to-end infrastructure and services and (2) a white-label software-as-a-service, or SaaS, model where we license our platform to regional ticketing companies, venues, and promoters who operate under their own brands while using our technology. Our platform is designed to increase attendance and maximize revenue for our clients by combining reliable transaction processing with data-driven pricing, personalization, and conversion-optimized experiences.

We believe the Latin American live events market represents one of the most attractive growth opportunities globally, with smart ticketing adoption outpacing global averages and a market structure that remains highly fragmented versus North America and Europe. We believe our technology, localized operating expertise, and flexible commercial models position us to capture a greater share of the region's expanding value, while our capital-light white-label business will enable rapid, margin-accretive expansion.

We do not compete on scale alone, but on adaptability and infrastructure depth. The Company's model is designed to operate where global incumbents face structural limitations, combining global-grade technology with local market understanding and operational flexibility. Ticketplus intends to position itself as the underlying infrastructure of the live entertainment industry in Latin America, with the ambition to extend this role globally. The Company's expansion strategy leverages its existing white-label ecosystem to identify consolidation and acquisition opportunities among operators already running on its platform. This approach is intended to significantly reduce integration and diligence risk, while reinforcing capital efficiency and scalability.

We believe with our robust technological foundation, proven scalability, and a growing data-driven ecosystem, we are positioned to become one of the leading technology platforms emerging from Latin America in the global capital markets—representing the convergence of engineering, live entertainment, and digital transformation.

**Our Background**

***Origin and Founding***

Ticketplus was founded in 2014 in Santiago, Chile, with the objective of building a scalable, end-to-end technological infrastructure for live event management, designed from inception to operate under global standards of security, resilience, and transactional control.

The Company's initial operational validation occurred during a national rugby championship in 2014, where the team successfully deployed a complete ticketing, payment, and access control system in 28 days—a project originally estimated to require more than nine months of development. This early deployment demonstrated the execution capability, scalability, and reliability of the architecture that would later become the core of the Ticketplus platform.

From its inception, Ticketplus was conceived not as a traditional ticketing operator, but as a technology company applied to live entertainment. The Company's founding vision was to address a structural inefficiency in the industry: providing small and mid-sized events with the same level of technological sophistication, data visibility, and operational reliability historically available only to large-scale promoters and venues. This principle of technological democratization has remained central to Ticketplus' strategy and long-term positioning.

Ticketplus was co-founded by Chien-Fu Chen Chen, architect of the platform and our Chief Executive Officer, and Joaquín Jadue, our Chief Financial Officer, who, together with Yethro Dinamarca Santelices, a member and the Chair of our board of directors and principal shareholder, create our complimentary leadership team focused on the integration of software engineering, field operations, and financial planning under a unified technological architecture.

Ticketplus' organizational culture emphasizes sustained innovation, operational discipline, and execution excellence, reflecting a company oriented toward long-term value creation rather than short-term visibility.

***Early Development and Consolidation in Chile (2014–2018)***

Between 2014 and 2018, Ticketplus consolidated its operations in Chile by standardizing an end-to-end operational model, integrating ticket sales, real-time validation, payments, and reporting within a single proprietary platform.

During this period, the Company developed its first business intelligence layer, enabling real-time dashboards, operational monitoring, and dynamic antifraud systems. These capabilities were progressively adopted by leading national promoters, sports organizations, and event venues, positioning Ticketplus as a trusted technology partner rather than a transactional intermediary.

This phase established not only our technological and operational foundation, but also deep promoter relationships and operational credibility. Between 2018 and the present, we executed white-label agreements with partners in Argentina, Costa Rica, Dominican Republic, Paraguay, Uruguay, and other markets, establishing operations across 11 countries, which we consider to be rapid white-label adoption across Latin America. We believe our partners trusted Ticketplus because we had proven execution at scale in one of the region's most sophisticated markets—a validation that we believe became a competitive moat as we expanded regionally, where local credibility and track record are decisive factors in market penetration.

***Dual Model Expansion: Full Operation and White-Label SaaS (2018–2022)***

Beginning in 2018, Ticketplus introduced its white-label SaaS platform, allowing independent ticketing operators, promoters, and venues to operate under their own brands while relying on Ticketplus' proprietary infrastructure.

This expansion did not replace the Company's full operation model, but rather complemented it. Ticketplus adopted a dual-model strategy, combining direct operations with technology licensing, leveraging its operational expertise, market relationships, and scalable platform architecture.

This approach enabled rapid regional expansion into Argentina, Mexico, Paraguay, Uruguay, and additional Latin American markets, while maintaining a capital-efficient growth profile. We believe the white-label model significantly increased platform penetration, transaction volume, and data aggregation, based on our observed platform metrics, reinforcing Ticketplus' role as the underlying infrastructure for a fragmented regional industry.

***Resilience and Innovation During the Pandemic (2020–2022)***

During the global suspension of live events, Ticketplus preserved its core engineering and operational teams and continued investing in platform development, temporarily adapting its technology to support alternative use cases such as municipal logistics, access management and digital distribution in Chile, while maintaining business continuity across its markets.

In parallel, the Company developed secure streaming and hybrid-event capabilities, which were adopted by sports organizations and promoters across Latin America, enabling digital monetization with full transactional control and audience validation. These developments anticipated the convergence between physical and digital live entertainment experiences. More importantly, our operational continuity during the pandemic strengthened our market position and deepened client relationships. The streaming and digital capabilities we developed became permanent platform features that now provide clients with hybrid event options, while our uninterrupted service during the crisis established Ticketplus as one of the most resilient infrastructure providers in the region*—*we believe we have established a reputation that continues to drive client retention and new partnership wins, supported by retention rates exceeding 95% for promoters and venues and Net Promoter Scores of +58 (buyers) and +59 (promoters). See "*—COVID-19 Pandemic*" below.

***Regional Scaling and Institutionalization (2023–2025)***

From 2023 onward, Ticketplus entered a phase of accelerated regional scaling and institutionalization. The Company expanded its presence to 11 countries, operating across more than 30 cities in Latin America, and executed white-label agreements with leading local platforms in Argentina, Costa Rica, Dominican Republic, Paraguay, Uruguay, and other markets.

During the year ended December 31, 2025, the Ticketplus platform processed:

● Over 10.2 million tickets

● Across more than 39,800 events

● For over 2,800 promoters, venues and partners

● With an aggregated audience exceeding 46 million user sessions

*Comparative Data*

---

| | | | |
|:---|:---|:---|:---|
|  | **For the <br> year ended<br> December 31,<br> 2025** | **For the<br> year ended<br> December 31,<br> 2024** | **%<br> Change** |
| Total Platform Sales (GMV) | $268872985 | $191237481 | +40.6% |
| Total Revenue | $29462572 | $17963131 | +64.2% |
| Tickets Processed | 10,200,000+ | 8,000,000+ | +27.5% |
| Events | 39,800+ | 26,000+ | +53.1% |
| Active Promoters, Venues & Partners | 2,800+ | 2,100+ | +33.3% |

---

All operating metrics are derived directly from the transactional system of the Company's technology platform, which records and processes each transaction in real time across all markets and service tiers:

● *Total Platform Sales (GMV)*: Total face value of all tickets sold through the Company's platform, before any deductions for fees, refunds, or commissions, and regardless of revenue recognition treatment.

● *Total Revenue*: Total revenue that we receive from the GMV.

● *Tickets Processed*: Total tickets with "sold" or "validated" status in the platform's transactional database during the measurement period.

● *Events*: Unique events with at least one ticket sold or scanned during the period.

● *Active Promoters, Venues & Partners*: Unique client accounts with at least one event during the period.

For the year ended December 31, 2025, the Company's platform processed more than 10.2 million tickets across more than 39,800 events. Of these, the full operations model processed more than 5.5 million tickets across more than 20,800 events, and the white-label SaaS model processed more than 4.7 million tickets across more than 19,000 events.

Our white-label take rate averaged 1.63% of GMV and 5.7% of total revenue for the year ended December 31, 2025.

Our full operation take rate averaged 17.3% of GMV and 94.3% of total revenue for the year ended December 31, 2025. The take rate for our full operation model has historically averaged between 15.9% and 17.3%.

The total revenue concentration in the full operation model is attributable to the materially higher take rate applied under this model, which reflects the broader scope of services provided, rather than a proportional concentration in transaction volume. Both models process transactions across the Company's shared technology platform and operational infrastructure and are integral components of the Company's service continuum and long-term growth strategy.

These results were achieved primarily through organic growth and corporate debt financing, without reliance on institutional equity capital.

Both the Company's Full Operation and White-Label SaaS models are available and may be contracted across all markets where the Company operates. Chile is, as of the date hereof, the only market where clients contract the Full Operation Model, due to the Company's 12+ years of operations in that market, the maturity of client relationships, and the scale of the local events industry. We seek to expand usage of our full-service tier throughout all of the markets where we offer our white-label services.

In 2025, Ticketplus established its corporate hub in Miami, Florida, serving as the Company's strategic, financial, and investor relations center for international expansion and its planned public listing. Operational, engineering, and product development activities remain centralized in Chile, supporting regional markets across Latin America.

**Our Industry**

The global online ticketing industry is large and growing, with smart ticketing solutions integrating of digital technology platforms across the full lifecycle of live event management, from event creation, inventory management, and dynamic pricing through distribution, transaction processing, real-time access control, cashless payments, and post-event analytics representing the fastest-growing segment, as venues and promoters adopt mobile validation, real-time data capture, and integrated access control. Unlike traditional ticketing systems, which rely on physical tickets or basic online distribution with limited data capture and minimal operational integration, smart ticketing platforms are built on cloud infrastructure with mobile-first interfaces, QR code or NFC validation, multi-channel payment processing, AI-driven demand forecasting, and integrated operational tools that provide end-to-end event management capabilities. The smart ticketing market represents the segment of the broader live events industry that has adopted or is transitioning to these technology-enabled, data-driven platform solutions. The global online ticketing market is projected to reach approximately $103 billion by 2030, as digitization displaces traditional box office sales (ResearchAndMarkets, Online Event Ticketing Market Forecast to 2029). Within this broader market, smart ticketing solutions, incorporating hardware-enabled access control, mobile validation, and real-time data capture, represent the highest growth segment. In Latin America specifically, the smart ticketing market was valued at approximately $1 billion in 2024 and is expected to reach approximately $2.5 billion by 2030 according to Mobility Foresights.

Public reporting data from Grand View Horizon represents that Latin America is the world's fastest-growing ticketing market, with smart ticketing solutions expanding at 16.6% compound annual growth rate, or CAGR, more than four times the global rate according to analysis by Grand View Horizon, a market research company. The underlying live events market in Latin America is projected to expand from $27.7 billion in 2022 to an estimated $45.5 billion by 2028 (PwC Global Entertainment & Media Outlook). This growth is driven by a young, urbanizing population with increasing disposable income. Structural factors include a rising middle class concentrated in major cities, a demographic profile where 60% of the population is under 35, and the integration of Latin American cities into global touring circuits, with venues in São Paulo, Mexico City, Santiago, and Buenos Aires becoming regular stops for international artists. We operate in this growing region and participate in the $85 billion global ticketing industry according to market analysis by Mordor Intelligence Inc. performed in 2025.

The Latin American ticketing landscape remains highly fragmented compared to mature markets in North America and Europe, where 2-3 players control over 80% of the market. Global ticketing leaders such as Live Nation/Ticketmaster and CTS Eventim maintain limited direct presence across much of the region, collectively holding less than 20% market share outside of Mexico and Brazil.

We believe Latin American market complexity, such as payment infrastructure and cultural factors in event operations, has contributed to this fragmentation by impeding expansion by international players, which creates opportunities for regional platforms like Ticketplus. Payment infrastructure varies from country to country. For example, Chile has 70% credit card penetration, while markets like Peru and Ecuador remain over 60% cash-based, requiring physical payment collection networks. Further, each country maintains distinct regulatory frameworks governing consumer protection, data privacy, and foreign exchange controls, which makes the region difficult to penetrate through standardized global platforms. Additionally, we believe cultural factors in event operations, such as preferred communication channels (WhatsApp dominates), purchasing patterns (group buying is common), and venue relationships (often based on long-standing personal connections), cannot be adequately addressed through standardized global platforms.

When global ticketing leaders attempt Latin American expansion, they have historically done so through partnerships with, or acquisitions of, local operators. For example, Ticketmaster's partnership with OCESA to access Mexico required years of negotiation, Live Nation's expansion has remained limited to OCESA partnerships, and CTS Eventim acquired Punto Ticket in Chile to establish operations. Recent consolidation activity, including Credicorp's 2025 acquisition of Peruvian platform Joinnus, demonstrates that global players recognize the value of established local operations over new market entry.

The challenges global operators face relate to, among others, payment integration across multiple processors, regulatory compliance across jurisdictions, language and cultural adaptation, and the need to build or acquire venue relationships. This market structure creates advantages for regional platforms with established operations and localized technology as regional operators with existing infrastructure can scale across multiple countries more readily.

The ticketing industry operates within a complex regulatory environment that varies by jurisdiction. Consumer protection laws mandate "all-in" pricing disclosure in Argentina, Brazil, and Chile, which requires ticket sellers to disclose the full final price to consumers upfront, including all mandatory fees, taxes, and charges. Data privacy regimes, including Brazil's General Data Protection Law, Argentina's Personal Data Protection Law, and Chile's forthcoming comprehensive framework, require compliance infrastructure. Payment processing regulations vary by country, with some markets requiring operators to register local entities for fund processing. Anti-money laundering requirements affect high-value transactions as companies are required to implement procedures for customer and event-level verification including monitoring and reporting mechanisms designed to detect and prevent illicit financial activity. Tax treatment of ticketing fees ranges from 0% to 21% value-added tax, or VAT, with different rules for international versus domestic events.

We believe long-term trends support continued industry expansion. According to a 2018 research report by Salsify, Inc., consumer spending continues to shift in favor of experiences over material goods, a pattern evident in Latin America where cultural values emphasize community events and social experiences. Urbanization continues to concentrate populations in major cities. Smartphone penetration reached 70% regionally in 2024 and continues growing at 8% annually, enabling mobile-first ticketing strategies. Social media amplification has also become a major driver of ticket purchasing behavior. Data analytics platforms are able to leverage this online market to provide promoters with visibility into customer behavior and preferences. Technological advancements such as artificial intelligence enable dynamic pricing optimization tools, allowing companies to more quickly respond to dynamic market demand. Facial recognition and biometric validation are also streamlining entry protocols for safety and crowd management. In addition, the rise of regional music genres achieving global recognition, such as Reggaeton and Latin trap, have created new touring opportunities for a greater percentage of musical artists.

As the Latin American live events market continues to grow, platforms that combine technology capabilities with local market expertise are positioned to serve this expanding market across diverse payment methods, languages, and regulatory frameworks.

**Our Business Model and Platform**

Ticketplus delivers a technology-driven platform that addresses the complete event lifecycle for promoters, venues, sports organizations, and cultural institutions across Latin America through two complementary business models that together create a scalable framework with broad market coverage.

***Business Models***

Our revenue drivers and contract structures differ between our full operation and white-label businesses, each is designed to align our economic interests with client success while providing revenue visibility and predictability. Our full operation model accounts for most of our total revenue and we are substantially dependent on this business model; however, both models are integral components of our service continuum and long-term growth strategy.

*Full Operation Model*

We deploy trained personnel and specialized hardware to support on-site execution, including access control systems with high-speed QR and barcode scanning, box office point-of-sale terminals, self-service kiosks, network infrastructure for connectivity-constrained venues, and cashless payment systems for in-venue transactions. Our field teams handle equipment deployment, staff training, live troubleshooting, and post-event reconciliation. Payment processing is fully integrated across cash, local and international cards, digital wallets, and bank transfers, supported by automated reconciliation systems and ongoing development of AI-enabled tools to reduce manual effort and error rates. Customer support spans the full transaction lifecycle, with service level agreements, escalation protocols for high-priority events, and self-service tools that address common requests, such as ticket transfers and name changes.

We structure our multi-year contracts with event promoters and venues to define service fee percentages on ticket face value, aligning our revenue with event performance and naturally scaling with pricing changes. These contracts span up to three years and cover field operations costs based on event scale and complexity and typically include exclusivity provisions for one to three years, which we believe creates greater predictability, which in turn drives client retention. These exclusive relationships, combined with platform reliability, service quality, migration complexity, and the value of accumulated data, drive high renewal rates. Over time, long-term clients often expand scope by adding events, activating additional features, or increasing services, reinforcing durable partnerships and revenue visibility.

In connection with our full operation model, we typically enter into multi-year contracts with event promoters and venues. Contract duration is typically between one and three years with automatic renewal and 90-day notification window. The Company receives a service fee charge of 8%–15% of ticket face value, as defined by ticket face value, aligning revenue with event performance. Contracts cover field operations costs based on event scale and complexity and typically include exclusivity provisions for one to three years. The Company's full operation blended take rate currently averages 17.3% of GMV depending on market and event type. Ticketplus serves as the exclusive technology platform for the client's events during the contract term, providing full suite of contracted modules to customer hosted events. Customer support spans the full transaction lifecycle with service level agreements and escalation protocols. The Company may be obligated to process refunds for canceled events, and mitigates exposure to such liability through settlement reserves and real-time monitoring via our proprietary risk assessment framework, Ticketplus Risk, which captures and analyzes operational, financial, and relationship factors through weighted metrics across multiple categories, and maintains comprehensive records of partnership performance, tracking actual results against initial projections including ticket sales, revenues, profit margins, and operational execution quality.

*White-Label SaaS Model*

Our white-label model provides regional ticketing companies, large venues, sports franchises, and promoters with a complete technology platform operated under their own brand, maintaining client identity and customer relationships while expanding our market reach and transaction volume. The platform includes core ticketing, website and mobile frameworks, analytics and business intelligence, payment integrations, and access control. Implementation follows a structured onboarding process encompassing data migration from legacy systems, comprehensive training for administration and operations, and systems integration across customer relationship management or CRM, marketing, accounting, and venue management to ensure seamless data flow. The modular architecture allows clients to activate features aligned to their business model and to extend capabilities through an add-ons marketplace.

Core modules include ticketing and access control, e-commerce for merchandise and ancillary products, membership and subscription management, CRM with segmentation and targeting, email marketing with automation, real-time analytics, and customizable mobile applications. Add-ons include virtual queuing for high-demand on-sales, cashless in-venue payments, integrated advertising, advanced theming, and streaming for hybrid events. Our white-label model operates on recurring revenue, with pricing structured around transaction volume, activated features, and support tiers. We provide ongoing optimization, feature enhancements, security and compliance updates, and dedicated account management, aligning our success with client growth through increased utilization and ticket sales.

The white-label service model provides a continuum of progressive platform activations, through which clients may contract enhanced service tiers as their needs evolve. Contracts are typically annual with automatic renewal and are priced via platform license fee, averaging 1.63% of processed GMV, calculated per-ticket. The contracts often include minimum volume commitments or tiered pricing to encourage consolidation of activity on our platform, providing revenue visibility. Minimum volume commitments are proposed by the clients themselves as part of the commercial negotiation, and reflect each client's own projected transaction volumes, not targets imposed by us. To date, no client has failed to meet their minimum volume commitment. If a client were to fail to meet its minimum volume commitment, the contractual remedy is an upward fee adjustment at renewal. The contracts define scope of services, including platform access, feature activation, data migration, training, technical support, and updates, and include service level agreements for uptime, responsiveness, and performance standards. Implementation fees and charges for custom features support localized solutions that can benefit the broader ecosystem and may facilitate future M&A opportunities. White-label clients assume primary responsibility for event cancellations and consumer refunds.

Our white-label model is a core component of our growth strategy. By enabling promoters, venues, and ticketing operators to run their businesses on our proprietary infrastructure under their own brands, we expand our technological footprint while maintaining capital efficiency.

This model allows us to scale across multiple markets without replicating full operational structures in each geography, while preserving full control over the underlying technology, transaction flows, and data architecture.

Over time, operating alongside white-label partners provides the Company with direct visibility into transaction volumes, operational patterns, and market dynamics across different countries and event categories. Because these partners already operate on our proprietary infrastructure, any potential deepening of the relationship—whether through expanded commercial collaboration, organic growth, or selective consolidation—can be pursued without technology migration risk or platform integration complexity.

We believe this embedded position enables informed decision-making regarding market prioritization, deeper partnerships, organic expansion, or selective consolidation, while avoiding the execution and integration risks typically associated with traditional market entry or acquisition strategies.

![](ea029197701_img3.jpg)

***Platform Architecture***

The Ticketplus platform is designed as a modular, cloud-native full-stack solution that integrates sales management, business intelligence, and revenue optimization tools into a unified ecosystem capable of handling high-concurrency on-sales for major events, complex seat mapping for large venues, multiple payment methods including cash and local card networks, fraud detection and prevention, mobile ticket delivery with QR validation, and real-time inventory management across multiple distribution channels. It is built in-house with no reliance on third-party core infrastructure, enabling us to maintain control over product development, feature velocity, data security, and system reliability. This core infrastructure is built to ensure system uptime during critical sales windows and event-day operations, when downtime or performance degradation can result in significant revenue loss and reputational damage. Our operations and administration are optimized through a central operating system that has been built with external software companies. We believe this proprietary architecture allows us to compete with global platforms while adapting to the payment methods, regulatory requirements, cultural preferences, and operational challenges of Latin American markets.

Our platform operates as a three-layer architecture. The base layer provides core ticketing functionality including event creation and configuration, pricing structures, promotional codes and discount management, customer registration and authentication, order processing and payment capture, ticket delivery via email and mobile wallet integration, and order modification workflows for changes and cancellations. The middle layer encompasses channel distribution through web platforms, native mobile applications for iOS and Android, application programming interface or API integrations for third-party distributors and affiliate partners, physical box office systems for walk-up sales, and our self-service kiosk network for on-site purchases. The top layer—often referred to internally as "Data Oil"—consists of value-added services, business intelligence systems and analytics tools that drive incremental revenue and operational efficiency for our clients such as affiliate selling, customer relationship management or CRM, loyalty point systems, memberships and more, and constitutes a strategic data asset that strengthens with every event processed and creates significant barriers to entry for potential competitors. Our dual-model platform is designed so that as transaction volume scales, our predictive analytics improve, our pricing intelligence deepens, our fraud detection accuracy increases, and our demand forecasting precision compounds—creating an information advantage that widens over time. This proprietary dataset, built over a decade across millions of transactions and multiple countries, cannot be easily replicated by new entrants without comparable multi-market scale and operational history. This architecture enables independent development and deployment of features without requiring coordinated releases across the entire platform.

![](ea029197701_img4.jpg)

The platform operates on Amazon Web Services or AWS infrastructure, leveraging managed services that provide reliability, security, and scalability. Our production environment is deployed across multiple availability zones, providing automatic failover and load distribution. Application servers automatically scale capacity during demand spikes and reduce resources during low-traffic periods. System reliability is measured through comprehensive monitoring infrastructure. We maintain a public status page providing transparency to clients regarding system availability.

Our backup strategy implements multiple layers of protection. Transaction databases utilize continuous backup with point-in-time recovery capability. Automated daily snapshots provide recovery points for full system restoration. File storage includes object versioning and cross-region replication for geographic redundancy. Our disaster recovery plan establishes recovery objectives and procedures validated through periodic testing, and encompasses multiple failure scenarios including individual component failures, database corruption, and complete regional infrastructure loss.

We employ technical and organizational security measures to safeguard personal data and transaction information. Security controls include encryption of data in transit and at rest, role-based access controls with multi-factor authentication for internal users, network security with web application firewall and DDoS protection, automated vulnerability scanning and manual penetration testing by external security firms, and incident response procedures with defined escalation paths.

***Platform Core Capabilities***

Data analytics and business intelligence represent a key competitive advantage and value driver for our platform. We provide promoters and venues with real-time visibility into sales performance, customer behavior, and market trends through customizable dashboards built on enterprise-grade analytics infrastructure. Key metrics tracked include gross merchandise value across events and time periods, ticket sales velocity and conversion rates, customer acquisition costs and lifetime value, pricing optimization opportunities, geographic distribution of purchasers, channel attribution for marketing effectiveness, and cohort analysis for repeat purchase behavior. Real-time sales monitoring allows immediate response to underperforming events through promotional adjustments, pricing changes, or marketing intensification. Predictive analytics leverage historical data and market conditions to forecast final attendance, identify optimal pricing strategies, and recommend inventory release timing. Customer segmentation tools enable targeted marketing campaigns to high-value segments, personalized pricing offers, and reactivation campaigns for lapsed customers.

Our platform supports comprehensive e-commerce capabilities that enable promoters and venues to drive incremental revenue from merchandise, food and beverage pre-orders, parking passes, VIP experiences, and other ancillary products. Our e-commerce module integrates seamlessly with the ticketing purchase flow, presenting relevant upsell opportunities at point of purchase when customer purchase intent is highest. For events with significant food and beverage operations, we provide self-service kiosks and mobile ordering capabilities that reduce staffing requirements, increase throughput during peak periods, and improve customer satisfaction by minimizing wait times. These systems integrate with inventory management platforms to prevent overselling of products in limited supply and provide real-time sales data that enables dynamic menu adjustments and promotional strategies during events.

Our membership and subscription management capabilities address the needs of sports teams, performing arts organizations, and other content owners seeking recurring revenue and audience retention. The platform supports season ticket programs, membership tiers with differentiated benefits, flexible payment plans with automated recurring billing, exclusive access to tickets or experiences for members, and renewal management with automated campaigns and retention offers. Our platform tracks member engagement metrics, identifies at-risk members for retention campaigns, and provides analytics on program economics including acquisition costs, retention rates, and lifetime value by membership tier.

Our access control infrastructure ensures secure, efficient event entry while capturing valuable data on attendance patterns and customer behavior. We deploy turnstile systems with high-speed scanners capable of validating thousands of entries per hour, portable handheld scanners for flexible entry point configuration, offline validation capability to ensure access control continues even during connectivity interruptions, and real-time attendance dashboards showing entry velocity and identifying potential bottlenecks. For venues and events requiring advanced access management, we provide tiered access control for VIP areas, artist compounds, and restricted zones, credential management for staff, vendors, and media, re-entry tracking for multi-day events or venues with in-and-out privileges, and integration with security systems for comprehensive venue management. Our access control data feeds back into analytics platforms to provide insights on arrival patterns, no-show rates, and zone utilization that inform future event planning and resource allocation.

We maintain a comprehensive API infrastructure available to clients through authenticated access credentials including API keys and client secrets. Our APIs enable integration with third-party platforms and extend distribution reach through ticket distribution to affiliate partners and resellers, content syndication to discovery platforms and event aggregators, data exchange with venue management systems, integration with sponsor activation platforms, and connectivity to accounting and financial reporting systems. For clients seeking to expand audience reach beyond physical venue capacity or offer hybrid event experiences, we provide streaming infrastructure that supports live broadcasting of events, pay-per-view monetization models, integration of virtual and in-person attendance in a unified experience, and analytics on viewer engagement and retention. These capabilities became particularly valuable during the COVID-19 pandemic when in-person events were restricted and continue to provide value for content that can generate incremental revenue from global audiences unable to attend physically.

Our product development organization maintains a regular release cycle introducing new features, performance improvements, and bug fixes. Development priorities are informed by client feedback, competitive analysis, market trends, and strategic initiatives. For example, we are actively developing expanded analytics capabilities including automated dynamic pricing algorithms that adjust ticket prices based on real-time demand signals, competitive benchmarking tools that compare event performance against similar events in the market, attribution modeling to optimize marketing spend allocation across channels, and churn prediction models for subscription and membership programs. We invest in emerging technologies including artificial intelligence for personalization and demand forecasting, blockchain for fraud prevention and ticket authenticity verification and tracing, augmented reality for enhanced venue wayfinding and experiential marketing, and automated accounting and reconciliation processes. We believe this commitment to continuous innovation will ensure our platform remains competitive with global alternatives while specifically addressing the evolving needs of Latin American markets.

**COVID-19 Pandemic**

On March 11, 2020, the World Health Organization declared the novel coronavirus COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The COVID-19 pandemic and resulting government-mandated restrictions on public gatherings had a significant impact on the global live events industry. Beginning in March 2020, events across our operating markets were cancelled or postponed indefinitely, resulting in a substantial reduction in ticketing volumes. Like all participants in the live events ecosystem, we experienced a substantial decline in transaction activity during 2020 and 2021 as venues closed, tours were cancelled, and public gatherings were prohibited across Latin America.

Our survival and recovery reflected strategic decisions and operational adaptability. We maintained our standard refund terms throughout the pandemic, processing cancellations and postponements according to established protocols. We believe this approach preserved customer trust and avoided regulatory complications that affected other industry participants. Our platform diversification across multiple event verticals, combined with municipal relationships and technology investments, enabled us to pivot to alternative revenue streams while maintaining operational continuity. We leveraged our relationships with municipalities across Chile to support public health initiatives. Our platform was adapted to manage distribution of masks, hygiene products, and assistance packages for elderly populations. These government contracts provided revenue during the period when live events were prohibited, while demonstrating the versatility of our technology platform beyond traditional entertainment ticketing.

The pandemic accelerated our development of streaming and digital event capabilities that have become permanent features of our platform. Recognizing that sports franchises needed to maintain fan engagement and revenue generation despite empty stadiums, we implemented strategies that proved successful across our client base, such as facilitating advance season ticket campaigns and deploying e-commerce capabilities for sports merchandise. We developed technology linking ticketing infrastructure with streaming platforms by engineering a solution that enforced single-device viewing restrictions per ticket, protecting content owners from unauthorized redistribution while enabling monetization of digital events, which was deployed in Chile and Argentina. This technology remains integrated into our platform, providing clients with hybrid event capabilities that combine in-person and digital attendance.

As governments began permitting events with restricted capacity, we enhanced our access control systems to support health and safety requirements. Our platform adaptations included sector-based capacity limits enabling control over attendance density, vaccination status verification integrated with national health databases where available, and real-time occupancy monitoring to ensure compliance with regulations. These features were implemented across our turnstile systems and mobile validation applications, enabling venues to maintain operations while adhering to public health mandates.

As the Latin American events market returned to growth in 2022 and accelerated through 2023-2024, we emerged with enhanced capabilities and stronger client relationships. The pandemic validated our platform's technical flexibility and ability to adapt to market conditions. The streaming and digital event capabilities created new revenue opportunities that persist beyond the pandemic. We believe enhanced access control and capacity management features differentiated our platform as venues implemented operational changes and that the successful execution of municipal contracts expanded our reputation beyond entertainment into broader event management.

**Our Market Opportunity and Customers**

We serve a large and growing addressable market spanning primary ticketing service fees generated as a percentage of gross merchandise value flowing through our platform, recurring white-label SaaS licensing fees, and ancillary streams including access control hardware sales and leasing, data analytics services, and payment processing. We believe the fragmented nature of the Latin American ticketing landscape, as detailed in our industry analysis, creates significant consolidation and market share capture opportunities.

Our footprint covers 11 countries across North and South America, focusing on Latin America. We currently deploy our full operations model exclusively in Chile, our home market, while maintaining white-label SaaS operations in Argentina, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Mexico, Paraguay, Peru, the United States, and Uruguay.

This geographic distribution reflects our dual business model strategy, with direct operations in our home market where we have deepest operational capabilities and brand equity, combined with white-label partnerships in markets where established local players seek technological modernization. Our multi-country presence enables us to serve international promoters across many locations in their Latin American touring calendars while providing data visibility and operational insights across diverse markets that inform our platform development and competitive positioning.

***Customers***

Our customer base encompasses concert and live music promoters, sports organizations, performing arts venues, festival producers, nightlife/entertainment venues, and corporate event organizers. We also serve thousands of small and mid-sized events, expanding access to professional ticketing and diversifying our revenue base, increasing access to enterprise-grade technology, operational reliability, and actionable data, which had historically been limited to large-scale events. For Ticketplus clients hosting under 50,000 attendees, we have centralized and automated the processes of promotion, ticketing, and data tracking. During the year ended December 31, 2025, we processed over 10.2 million tickets across more than 39,800 events for over 2,800 promoters and venues.

---

| | |
|:---|:---|
| **Customer Category** | **Share of<br> Sales** |
| Sports | 31.50% |
| Music | 30.05% |
| Holidays (such as seasonal events and holiday-related programming) | 22.10% |
| Travel (such as park access and tours) | 4.75% |
| Theater and Visual Arts | 4.15% |
| Community and Culture Events and Programming | 3.90% |
| Business and Professional Services | 3.05% |
| Other (Movies, Media and Entertainment, Fashion and Beauty, Food) | 0.50% |

---

Our revenue is diversified across verticals and geographies. Chile is, as of the date hereof, the only market where clients contract the full operation model, due to the Company's long-term presence in the region, the maturity of client relationships, and the scale of the local events industry. However, there is no single client that represents a material percentage of our total revenue. Event vertical diversification provides natural hedging as different categories exhibit different seasonal patterns, economic sensitivities, and growth trajectories. Geographic diversification similarly reduces exposure to country-specific economic conditions, regulatory changes, or competitive dynamics. This diversification reduces exposure to any single client, event category, or market while creating a resilient revenue base less dependent on blockbuster events or major touring activity. We seek to expand usage of our full operation model throughout all of the markets where we offer our white-label services, as our full operation model accounts for most of our total revenue and we are substantially dependent on this business model.

We monitor a comprehensive set of operating and financial metrics to evaluate our business performance, guide strategic decisions, and measure progress against our growth objectives, including transaction and volume metrics (tickets sold, events managed, promoters and venues served, GMV), revenue and monetization metrics (take rate by business model, net take), customer satisfaction and retention metrics (promoter and venue retention, Net Promoter Scores), operational performance metrics (platform uptime and reliability, transaction success rate, payment processing) and technological adoption metrics. These metrics provide visibility into platform scale, customer satisfaction, operational efficiency, and technology adoption across our dual business model.

GMV represents the total value of all tickets sold through our platform, including face value and service fees, regardless of revenue recognition treatment. This metric provides the most comprehensive view of the economic activity flowing through our platform and is directly comparable across different business models and jurisdictions.

Take rate represents our net revenue as a percentage of GMV and is our primary measure of platform monetization. We track take rates separately for our two business models. Our full operation take rate currently averages between 13% and 20% depending on market and event type. Our white label take rate is structured to balance platform adoption velocity with sustainable unit economics, prioritizing long-term partnership value and market penetration over short-term revenue maximization. As partners scale on our platform, increasing transaction volumes drives absolute revenue growth even at efficient take rates, creating mutual value where partner success directly translates to Ticketplus growth.

We maintain retention rates exceeding 95% for promoters and venues using our platform, supported by high Net Promoter Scores from both buyers (+58) and promoters (+59). Retention is measured on an annual cohort basis, tracking the percentage of clients who continue using our platform year-over-year. Customer satisfaction is measured through Net Promoter Score surveys conducted quarterly. Net Promoter Scores are a standardized customer loyalty metric, ranging from -100 to +100, that measures how likely clients are to recommend a company to others.

We maintain system availability exceeding 99.9% for critical transaction processing systems. Uptime is measured continuously and reported monthly, with particular attention to performance during high-volume on-sale periods and event-day operations.

We track the percentage of attempted purchases that successfully complete. Transaction success rates typically exceed 95% for legitimate transactions, with continuous optimization to reduce false positive fraud detection while maintaining security.

***New Market Opportunities***

Our market development strategy prioritizes geographic expansion into high-potential regions where market size, competitive landscape, and operational feasibility align favorably. Entry approach varies by market characteristics, with our home market of Chile addressed through full operations under the Ticketplus brand while other markets leverage white-label partnerships with established regional players who bring local market knowledge, existing client relationships, and operational infrastructure.

New market development involves market research assessing competitive dynamics, regulatory requirements, and demand characteristics, relationship building with potential clients, partners, and industry stakeholders, payment infrastructure evaluation and integration for local payment methods, compliance preparation including legal entity formation and regulatory approvals where required and go-to-market execution through direct sales, partnership channels, or hybrid approaches.

Our dual business model provides strategic flexibility in market entry approach. In markets where established ticketing companies seek technology modernization without surrendering their brands and relationships, our white-label partnerships will enable rapid market entry with lower capital requirements and execution risk. In markets with fragmented competition and weak incumbent solutions, full operations capture higher economics while building Ticketplus brand equity. Market selection and entry strategy decisions balance growth speed, capital efficiency, and long-term strategic positioning.

Both the Company's Full Operation and White-Label models are available and may be contracted across all markets where the Company operates. Chile is, as of the date hereof, the only market where clients contract the most comprehensive service tier, due to the Company's 12+ years of operations in that market, the maturity of client relationships, and the scale of the local events industry. We seek to expand usage of our full-service tier throughout all of the markets where we offer our white-label services.

Over the next 24 months, we intend to pursue white-label partnerships in new Latin American and other international markets, such as Bolivia, Brazil, Canada, Portugal, and Spain, while simultaneously focusing on converting our existing white-label partnerships throughout Latin American into full operations, subject to achievement of volume and profitability thresholds.

**Our Competitive Strengths**

We have identified several competitive strengths that we believe contribute to our success and differentiate us from our competitors.

***Proprietary Full-Stack Platform Built In-House***

Our platform is developed in-house with no reliance on third-party core infrastructure for ticketing, payments, access control, or business intelligence functionality. We believe this proprietary architecture provides advantages compared to platforms assembled from licensed components or white-labeled solutions from global providers. Control over our technology stack enables rapid feature development and customization to address market-specific requirements. When Latin American markets require support for cash payments, local card networks, or region-specific regulatory compliance features, we can develop and deploy these capabilities directly rather than waiting for global platform providers to prioritize features for markets they consider secondary. Our in-house architecture eliminates dependencies on external technology providers that could create supply chain risk, vendor lock-in, or pricing pressure as we scale. We are not subject to per-transaction licensing fees to core platform providers or technical constraints imposed by third-party roadmaps. We believe our platform's reliability and performance under high-stress conditions, where failures during on-sales or event-day operations create immediate revenue loss and reputational damage, builds client trust and reduces switching risk for customers evaluating alternative platforms.

***Technology-Driven Client Success***

Our platform is designed to improve key commercial performance metrics for our clients including conversion rates, sell-through velocity, and average transaction value. These outcomes are driven by several technology-enabled mechanisms: (i) AI-powered personalization engines that surface relevant content based on behavioral signals and purchase history; (ii) dynamic pricing recommendations that support revenue optimization based on real-time demand conditions; (iii) predictive analytics that forecast attendance and inform mid-sale marketing adjustments; and (iv) conversion-optimized checkout flows that minimize friction through streamlined payment processing and saved credential functionality. These capabilities are embedded into our core platform architecture and improve continuously as our data network effects compound across millions of transactions. We believe that our client's performance improvements are driven by the software platform itself, not dependent on incremental personnel or manual advisory services, creating a scalable value proposition that strengthens with transaction volume.

***Integrated Field Operations and Hardware Capabilities***

We deliver end-to-end event services including on-site equipment deployment, trained field personnel, and operational expertise in venue management and access control. This integrated model creates differentiation for complex events requiring physical infrastructure and experienced teams to manage entry flows, box office operations, and in-venue sales. Our field operations capabilities include deployment of high-speed QR and barcode scanners, point-of-sale systems, self-service kiosks, and network infrastructure to ensure connectivity in venues with limited internet access. We maintain inventory of this equipment across our operating markets, enabling rapid deployment without requiring clients to source or operate hardware independently. We deploy trained field personnel who manage equipment setup, staffing of entry points and box office locations, technical troubleshooting, cash handling and reconciliation, and post-event equipment retrieval. Promoters and venues value single-provider accountability for both digital and physical event infrastructure. Our ability to provide turnkey solutions expands our addressable market to smaller promoters and venues that lack internal expertise to manage ticketing operations independently. The operational data we capture through our field presence provides insights into customer behavior and venue flow optimization that software-only providers cannot readily access.

***White-Label SaaS as Strategic Growth Engine***

Our white-label SaaS model represents our primary vehicle for market penetration and long-term scalable growth without the capital intensity, operational complexity, or geographical constraints inherent in full operation services. We believe the economics of our white-label business create sustainable competitive advantages: platform licensing fees generate predictable recurring revenue independent of event seasonality or venue availability, per-transaction fees scale naturally with partner growth aligning our success directly with client success, and, unlike full operation services requiring ongoing field personnel deployment and equipment maintenance, white-label partnerships require only platform maintenance and customer success support, creating operating leverage as our partner base expands. While not necessarily generating higher unit margins on a per-transaction basis, we believe white-label's capital-light nature enables faster market expansion and a more scalable cost structure, which in turn increases our overall blended gross margin as its share of the revenue mix grows over time. Moreover, we believe our white-label model creates structural lock-in that extends beyond contractual terms. Once regional operators migrate their complete operations onto our platform, including customer databases, event workflows, payment integrations, and historical analytics, switching generally becomes cost-prohibitive and operationally disruptive. This dependency transforms white-label partnerships into de facto permanent infrastructure relationships, where client retention is driven by operational necessity rather than contractual obligation alone. We believe that this has resulted in our white-label business exhibits an approximate 95% annual retention rate while delivering transaction-based revenue that scales with client growth.

***Full Operation Selective Market Applications and Strategic Flexibility***

While our white-label SaaS model serves as our primary growth engine, we maintain selective full operation capabilities in strategic markets where direct relationships and higher per-transaction economics justify capital and operational investment. In markets where we operate directly under the Ticketplus brand, we capture higher per-transaction revenue through service fees and operational charges while maintaining direct relationships with promoters and end consumers. When opportunities arise to convert white-label relationships into full operation presence through acquisition or organic expansion, we can execute with reduced integration risk and accelerated time-to-value compared to entering markets without existing technology infrastructure. This creates a complementary business architecture where white-label provides scalable market penetration while full operations capture premium economics in core markets, which enables us to adapt our market entry strategy based on local competitive dynamics, capital allocation priorities, and long-term strategic positioning.

***Local Market Expertise and Latin American Specialization***

Our operational history in Latin America since 2014 provides expertise in navigating market characteristics that we believe create friction for global ticketing platforms. Payment processing complexity in Latin America requires support for diverse payment methods including cash transactions, local debit and credit card networks, bank transfers, installment payment plans, and digital wallets. Our platform integrates these payment methods natively and manages the complexity of multi-currency transactions, foreign exchange risk, and cross-border settlement. Additionally, cultural and operational preferences in event management differ from North American and European norms, including preferred communication channels (WhatsApp), purchasing patterns (group buying), venue relationships, and attendee behavior. Our operational experience in these markets has generated institutional knowledge and best practices that inform our product design and operational execution.

***Data Network Effects and Business Intelligence***

Our scale across millions of tickets processed spanning thousands of events and multiple countries creates proprietary datasets that generate competitive advantages through network effects. As our transaction volume increases, the quality and comprehensiveness of our data improves, enabling better analytics, more accurate predictive models, and enhanced market knowledge. We believe this data visibility allows us to identify patterns invisible to promoters operating in isolation or smaller platforms with limited data reach. We can identify customers who attend multiple event types across different countries, enabling targeted marketing for touring content. We can benchmark event performance against comparable events to provide promoters with competitive intelligence on pricing, marketing effectiveness, and operational metrics. These data advantages create switching costs for clients as they become increasingly dependent on our historical insights, customer databases, and benchmark comparisons that would be lost if they migrated to alternative platforms.

***Cost Efficiency and Operating Leverage***

Our technology architecture and operational model are designed to generate operating leverage as transaction volume scales. Platform development costs are largely fixed, meaning incremental transaction volume requires minimal marginal cost increases. Once features are developed, they can serve unlimited transactions without proportional engineering resource increases. We are developing automation and artificial intelligence capabilities designed to reduce operating costs, including AI-enabled customer support systems, predictive analytics, automated financial reconciliation systems, and fraud detection algorithms. Our negotiated payment processing rates benefit from volume consolidation across our platform, with per-transaction costs declining as we process higher aggregate payment volume. Field operations benefit from route density and equipment utilization optimization as event volume concentrates in key markets. These cost efficiency initiatives combined with high gross margins in our white-label SaaS business create pathways to margin expansion as the platform scales.

We believe the commercial value of our data does not arise from raw customer records alone, which clients may export at any time, but from the analysis of behavioral patterns, historical purchase context, segmentation models, and performance benchmarks derived from our multi-market transaction history. The insights we generate across event types, geographies, audience cohorts, and pricing strategies cannot be replicated by competitors without comparable scale and cross-market depth. If a promoter were to migrate to another platform, they would retain access to their contact list, but will lose the historical demand signals, cross-event behavioral graph, pricing elasticity models, and market benchmark intelligence that materially improve marketing efficiency and revenue performance. This contextual intelligence, accumulated over years of operations and millions of transactions, constitutes a core switching cost and reinforces long-term platform dependence.

**Our Growth Strategies**

Our growth strategy prioritizes white-label SaaS expansion as our primary market penetration vehicle, supported by selective full operation deployments and strategic acquisitions. We believe this approach enables rapid geographic expansion, capital-efficient scaling, and superior unit economics compared to pursuing exclusively direct operations models.

***Core Market Consolidation***

Our white-label SaaS platform serves as our primary market expansion mechanism, enabling us to enter new markets within weeks rather than months, by partnering with established regional operators who can bring their existing client relationships, local market knowledge, and operational infrastructure. Once regional ticketing companies migrate their complete operations onto our platform, including customer databases, event catalogs, and operational workflows, switching generally becomes cost prohibitive. Partners become dependent on our technology for their core business operations, creating multi-year relationships with high retention rates. As we accumulate white-label partners across multiple markets, we anticipate that network effects will compound through shared platform enhancements, cross-market data insights, and unified technology roadmap benefiting all partners simultaneously.

***Strategic Partnerships and Content***

We evaluate and structure strategic partnerships with content owners, promoters, and venues through our proprietary risk assessment framework, Ticketplus Risk. This internally developed platform and methodology enables systematic evaluation of partnership opportunities ranging from single-event collaborations to multi-year exclusive contracts with promoters, venues, and sports franchises, and supports workflow management for partnership approvals, integrating financial projections, risk scoring, and authorization thresholds based on exposure levels and partnership complexity.

Our risk assessment process is managed by a dedicated multidisciplinary team with specialized expertise in financial analysis, event operations, legal structuring, and market intelligence. This team conducts comprehensive due diligence on potential partnerships through Ticketplus Risk, which captures and analyzes operational, financial, and relationship factors through weighted metrics across multiple categories, and maintains comprehensive records of partnership performance, tracking actual results against initial projections including ticket sales, revenues, profit margins, and operational execution quality. This historical performance data informs future partnership decisions and enables continuous refinement of our risk assessment models.

We believe that our structured risk framework allows us to pursue growth opportunities while maintaining portfolio discipline and appropriate risk exposure across diverse event categories and client relationships. Strategic partnerships include revenue sharing arrangements with content rights holders to secure inventory and improve commercial terms, technology partnerships with payment processors and access control providers to enhance platform capabilities, and marketing collaborations with promoters and media partners to reduce customer acquisition costs while driving ticket sales. These relationships are particularly valuable in core markets where we maintain full operations and can capture economic value from increased transaction volume.

***Strategic Mergers and Acquisitions***

Our M&A strategy is designed to address a primary risk in traditional ticketing acquisitions: integration uncertainty. Our acquisition approach focuses on companies already operating as white-label partners on our platform, where we have complete visibility into operational metrics, customer relationships, and technical infrastructure, which we believe enables data-driven acquisition decisions with reduced integration and valuation risks and low friction consolidation, while also retaining flexibility to pursue organic full operation entries or redeploy capital when valuations are unattractive. The Company's strategy is designed to acquire companies already operating as white-label partners on its platform, leveraging complete visibility into operational metrics to reduce integration risk. This client conversion strategy represents a key component of the Company's forward-looking growth plan and is expected to be funded in part with the net proceeds of this offering. As of the date of this prospectus, the Company has not completed a material business combination as defined under IFRS 3 and has not entered into any agreements, commitments, or understandings with respect to any particular business combination, and there can be no assurance that the Company will identify or consummate any such transaction.

Challenges associated with our strategy include, but are not limited to, (i) the need to negotiate acceptable acquisition terms with white-label partners, (ii) the capital requirements associated with transitioning from capital-light licensing relationships to full operational presence, (iii) competition from other potential acquirers, and (iv) the operational complexity of deploying field staff, equipment, and local support infrastructure in new markets. To date, the substantial majority of our workforce is located in Chile. Our centralized platform enables remote operations for core functions such as software development, platform infrastructure, finance, and commercial management, and therefore does not require physical presence in the markets served. However, on-site execution services under the full operations model will require local personnel; therefore, we will need to employ, or contract for, local personnel in each location where we do not already have such staff, which may limit our growth rate. We plan to address this limitation through a phased deployment approach that allows local presence to scale proportionally to transaction volumes in each new market.

The acquisition process will begin with target identification of regional ticketing companies, independent venues, and promoter organizations across our markets. We plan to offer our white-label SaaS platform to these targets, enabling them to migrate their operations onto our technology infrastructure. Once white-label partners are operating on our platform, we will gain complete operational visibility into their business performance through our integrated business intelligence systems. This informational advantage will provide us with real-time data on transaction volumes, customer retention, pricing dynamics, and growth trajectories that traditional acquirers cannot access until post-acquisition, when integration risks have already been incurred. This will enable us to make confident acquisition decisions based on verified operational performance rather than management projections, significantly reducing valuation risk and due diligence costs. Moreover, because the technical integration will have been completed before the merger transaction, post-acquisition execution risk will be materially lower than in traditional M&A scenarios—we will be acquiring operational control of a business that already runs on our infrastructure, not inheriting a technology migration project.

When we pursue acquisitions of white-label partners already operating on our platform, post-acquisition integration will focus on operational consolidation, branding decisions, and commercial optimization rather than the complex and risky technology migrations that typically challenge traditional ticketing acquisitions. Our platform architecture is specifically designed to enable low-friction consolidation, minimizing business disruption and accelerating time-to-synergy realization when acquisition opportunities arise.

In markets where existing ticketing companies demonstrate strong performance through their white-label operations, where organic growth appears more attractive or where acquisition valuations exceed our investment limits, we can launch our own full operation presence leveraging the market knowledge and operational insights gained through years of white-label partner data. This flexibility ensures we will be able to continue adapting our market entry strategy as conditions evolve. If one region becomes overpriced or if specific opportunities fail to meet our investment criteria, we can redirect focus to alternative markets while maintaining our growth trajectory.

***Product Innovation and AI***

We are integrating artificial intelligence across both daily workflows and core operational processes to enhance efficiency, decision quality, and commercial performance. The Company currently uses AI and machine learning in the following areas: (i) AI-powered personalization engines for content recommendations based on behavioral signals and purchase history; (ii) machine learning models for demand forecasting, pricing recommendations, fraud pattern detection, automated financial reconciliation, and customer segmentation; and (iii) AI-powered agents to automate repetitive internal tasks, accelerate documentation and support responses, assist in data retrieval, and streamline operational coordination.

These models leverage multi-market transaction datasets and are trained and deployed on AWS machine learning infrastructure. The Company utilizes commercially available third-party software and services under standard licenses for certain non-core functions and is not dependent on any single third-party license for core operations.

The Company continues to develop our services AI capabilities, including dynamic pricing algorithms, expanded analytics capabilities, and increased efficiency within the user interface. By operationalizing AI across both internal workflows and product functionality, our goal is to achieve a compounding improvement cycle where platform performance, operational leverage, and commercial outcomes strengthen in parallel as our data network effects expand.

***International Expansion***

Our international expansion strategy leverages insights from existing operations and white-label partnerships to identify attractive markets beyond Latin America. We are evaluating opportunities in markets with Hispanic populations, similar market structures to our core geographies, and favorable regulatory environments, such as Canada, Portugal and Spain.

The North American Hispanic market represents an attractive opportunity given cultural alignment and existing relationships with Latin American promoters who tour internationally. We continue to build capabilities to support expansion as opportunities arise, including compliance infrastructure, payment processing relationships, and operational expertise.

**Sales and Marketing**

We employ a dual-channel go-to-market strategy designed to address distinct customer segments through differentiated sales approaches while maintaining unified brand positioning and platform capabilities. Our commercial strategy reflects the distinct purchase decision processes, sales cycle complexity, and customer acquisition economics between our two business models. Our sales organization combines general account management with vertical-specific expertise, enabling efficient customer acquisition and relationship management across diverse event categories and business models. Marketing efforts focus on lead generation through industry presence, digital channels, and content strategy, while communications initiatives build brand awareness through event promotion and achievement showcasing.

Full operation sales target promoters, venues, sports organizations, and cultural institutions seeking comprehensive ticketing and operations, with sales driven by renewal cycles and new event opportunities that often evolve from spot engagements into multi-year exclusivity based on demonstrated reliability and outcomes. White-label sales involve longer cycles due to strategic migration considerations, including technical capabilities, feasibility, retraining, customer communications, and total cost of ownership, addressed through streamlined onboarding and a plug-and-play methodology encompassing complete legacy data transfer, local payment integrations, invoicing and tax compliance, and tailored platform customization to reduce risk and accelerate time-to-value. Our sales approach emphasizes demonstrating value through exceptional delivery rather than aggressive contractual lock-in, building trust that supports natural relationship expansion.

We tailor strategy to vertical buying patterns: in sports, annual planning and multi-year partnerships favor predictable renewals and high-value stability, with emphasis on season ticketing, memberships, fan engagement, and high-volume sales capabilities; concerts and festivals require agile, relationship-driven execution responsive to touring schedules and opportunistic productions; theater and performing arts necessitate subscriber management, seat hold features, patron database depth, and refined user experiences aligned with sophisticated audience expectations; corporate events and conferences prioritize white-label branding, security and compliance, registration and attendee tracking, and sponsor reporting suited to enterprise procurement and risk frameworks.

Our matrixed sales organization blends platform fluency with vertical specialization, where Key Account Managers lead relationships end-to-end, from pipeline development through negotiation, execution, and expansion, supported by vertical specialization heads in music, sports, theater, corporate events, nightlife, and other categories who bring deep industry knowledge to complex opportunities and inform product priorities. This structure enables rapid scale by pairing generalist account management with specialized guidance, ensuring credibility with sophisticated clients while maintaining onboarding efficiency. Customer Success bridges sales and ongoing account management, overseeing implementation, training, optimization, issue resolution, expansion identification, and renewals, aligning retention and revenue growth through adoption and feature expansion that complement initial sales outcomes.

We drive consistent pipeline development through a balanced mix of inbound marketing, outbound prospecting, and industry presence, optimizing customer acquisition costs via high-conversion channels. Modern CRM infrastructure underpins pipeline tracking, opportunity management, and forecasting, with disciplined lead qualification, stage criteria, forecast categories, and activity measurement driving execution quality and visibility. Active participation in ticketing, sports, music, and regional events fuels lead generation, thought leadership, market intelligence, and relationships across clients, partners, and industry stakeholders. Digital marketing, including search engine optimization, targeted advertising, and bilingual content, supports awareness and self-service education via comprehensive services and documentation pages, while word-of-mouth and referrals capitalize on high reported client satisfaction and retention, with Net Promoter Scores (a customer loyalty metric, ranging from -100 to +100) exceeding +58 points underscoring strong client recommendations that supplement paid acquisition channels.

Our communications and marketing teams build brand awareness, promote client events, and showcase achievements through media relations, press releases, social content, and community engagement anchored in visual storytelling, client testimonials, and operational excellence. This content strategy blends services promotion with industry insights, event marketing that drives client ticket sales while demonstrating platform scale, engagement campaigns, and milestone announcements across target audiences. Event promotion serves the dual objectives of supporting client success while simultaneously demonstrating our platform's scale and diversity to prospects and industry stakeholders.

**Competition**

We operate in a highly competitive environment. As we seek to continue growing our marketplace globally, we face competition in attracting clients.

Our primary competitors include global platforms such as Ticketmaster and Eventbrite, regional operators including Ticketek and Punto Ticket, and numerous local ticketing companies in each of our operating markets. We also face competition from white-label technology providers and from clients who are increasingly choosing to self-ticket through proprietary systems or direct sales through their own channels.

Rather than competing solely on scale, the Company's infrastructure is designed to operate effectively in environments where global platforms face structural limitations, including fragmented payment systems, regulatory complexity, and events requiring on-the-ground operational support.

As platform usage scales, we benefit from increasing data density across markets and event types, strengthening pricing intelligence, fraud prevention, and operational benchmarking. We believe these cumulative data effects reinforce customer retention and create durable structural advantages that are difficult for single-market or single-model competitors to replicate over time.

We believe we compete favorably based on multiple factors, including platform reliability and scalability, localized payment acceptance and compliance, business intelligence and optimization tools, integrated field operations, and flexible commercial models that align with client growth. See "—*Our Competitive Strengths*" for a detailed discussion of our competitive positioning.

**Seasonality**

Ticketing volumes are affected by event calendars and exhibit seasonal patterns, by diversifying the type of events we serve we pursue seasonal peak offsetting to create more consistent aggregate transaction volume throughout the year. Most sporting events operate on defined seasons; performing arts run year-round with subscription pre-sales smoothing revenue; corporate events often concentrate in the first and fourth quarters; concerts and festivals are more seasonal and route through Latin America in specific windows, such as November through March for major international tours, while local and regional concert activity peaks during warmer months and holiday periods. Despite these diversification benefits, our business does experience quarterly variation in transaction volume and revenue. Periods with major international touring activity, large-scale festivals, and peak sports schedules generate higher platform volume compared to periods with fewer tentpole events.

**Intellectual Property**

Our intellectual property consists primarily of our proprietary software platform, domain names, and limited trademark registrations. While our business is not materially dependent on registered intellectual property rights such as patents, we believe our proprietary technology and operational know-how developed over 12 years provides competitive advantages in the Latin American ticketing market.

Our primary intellectual property asset is our proprietary ticketing platform, which we have developed internally since our inception. This platform includes our ticketing engine, white-label SaaS architecture, access control systems, Ticketplus Risk and data analytics tools, all of which represent substantial investments in software development. We own all rights to this software and protect it through trade secret protections and contractual restrictions.

We own and maintain various domain names necessary for our operations, including ticketplus.com as our primary domain, along with country-specific domains such as ticketplus.cl, ticketplus.com.pe, and ticketplus.cr. We also maintain additional domains including myticketplus.com, ticketplus.global, netlinkapp.com, pagolatam.com, and globalstreame.com for various operational purposes.

We have limited trademark protection for our brands and marks. Our primary trademark registration is "TICKETPLUS.CL" in Chile (registration number 1293036, classes 35 and 41), registered with the National Institute of Industrial Property (INAPI) since September 28, 2018. As part of our intellectual property strategy, we have filed and continue to evaluate additional trademark applications for "TICKETPLUS" and related marks in key jurisdictions across Latin America.

We rely on trade secrets and operational know-how related to our business processes, including event management procedures, customer service protocols, and market-specific operational methods developed through our experience in Latin American markets. We protect these through confidentiality agreements with employees, contractors and partners.

We license our white-label platform to partners under standard commercial terms, retaining all intellectual property rights to our software. We utilize commercially available third-party software and services under standard licenses for certain non-core functions. We are not dependent on any single third-party license for our core operations.

**Human Capital**

Our values of innovation, commitment, excellence, attention to detail, agility, and technology leadership guide our culture. We maintain a relatively flat organizational structure that enables quick communication and decision-making, enabling us to respond quickly to market opportunities and client needs. We maintain training programs tailored to functional requirements across the organization, and invest in role-specific training for technology, commercial, and operations teams. Compensation includes performance-based incentives aligned to individual, team, and company outcomes. We maintain non-discrimination and equal opportunity policies and benefit from a diverse, geographically distributed workforce across Latin America, North America, and Europe.

As of December 31, 2025, we had 34 employees globally, of which 28 are full-time employees and 6 are dedicated contractors. The substantial majority of our workforce is located in Chile, with additional team members working remotely from Colombia, Ecuador, Spain, the United States, and Venezuela to support regional operations and market development.

The following table sets forth the number of our employees by function as of December 31, 2025:

---

| | | |
|:---|:---|:---|
| **FUNCTION** | **NUMBER OF<br> EMPLOYEES** | **PERCENTAGE** |
| Commercial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | 35% |
| Technology | 9 | 26% |
| Product & Services | 4 | 12% |
| Finance | 4 | 12% |
| Operations | 4 | 12% |
| Human Resources | 1 | 3% |
| **Total** | **34** | **100%** |

---

None of our employees are represented by labor unions or subject to collective bargaining agreements, and we believe that we have an excellent relationship with everyone who works with us.

**Facilities**

Our principal executive office is located at Alonso de Córdova 5320, Piso 16, Las Condes, Región Metropolitana. Santiago, Chile, and consists of 700 square meters (approximately 7,535 square feet). We lease this facility pursuant to a one-year sublease agreement, dated April 1, 2024, which automatically renews for successive 12-month periods unless either party provides at least 60 days' written notice prior to the expiration of the initial term (March 31, 2025) or any renewal period. The lease provides for a monthly base rent of 207.2 UF (Unidades de Fomento), a Chilean inflation-indexed unit of account, equivalent to approximately $8,288 per month. The rent automatically adjusts for inflation through the UF mechanism. We believe that our facilities have been adequately maintained, are in good condition, and are suitable and adequate for our business operations.

**Legal Proceedings**

We are not aware of any legal or regulatory proceedings that, individually or in the aggregate, would have a material adverse effect on our business, financial condition, or results of operations.

**Government and Environmental Regulation**

As a technology platform operating across multiple countries, we are subject to consumer protection, data privacy, payment processing, anti-money laundering, tax, labor, and other regulations across our operating jurisdictions. Our compliance strategy is designed to address the most stringent international standards to ensure consistent data protection and security standards across all markets while enabling rapid adaptation to evolving regulatory requirements throughout Latin America and potential future expansion into markets with advanced regulatory regimes.

Our corporate headquarters in Chile subjects us to Chilean regulatory requirements, including consumer protection laws, data privacy obligations, electronic invoicing and tax reporting standards, and labor regulations, such as Law No. 19.496 and Law No. 21.398 on consumer protection, Law No. 19.628 and Law No. 21.719 on personal data protection, Law No. 21.521 on electronic payments and the operation of digital platforms, and Law No. 21.663 and General Rule No. 461 for cybersecurity. We also comply with the instructions, circulars, and enforcement practices of SERNAC, Servicio de Impuestos Internos, Chile's internal revenue service, and Dirección del Trabajo, Chile's Labor Directorate.

We comply with additional federal, state and international laws, regulations and other standards designed to protect personal data. Our platform is designed to align with international data protection standards, including frameworks such as the California Consumer Privacy Act and the GDPR, and we maintain PCI Data Security Standard (DSS) compliance for payment processing. These frameworks govern privacy and the storing, sharing, use, disclosure and protection of personally identifiable information and user data, an area that is increasingly subject to legislation and regulations in numerous jurisdictions.

Our multi-jurisdictional compliance approach includes adherence to consumer protection standards comparable to those enforced by the U.S. Federal Trade Commission (FTC), payment processing regulations aligned with international card network requirements, and anti-money laundering and counter-terrorism financing protocols consistent with Financial Action Task Force (FATF) global guidelines, in addition to tax compliance frameworks adapted to each operating country's regulatory environment.

We may be subject to various U.S. and non-U.S. anti-corruption laws, including the FCPA in the U.S. and Chile's Law No. 19.913, Law No. 20.393, and Law No. 21.121. These laws generally prohibit companies and their intermediaries from engaging in bribery or making other improper payments of cash (or anything else of value) to government officials and other persons in order to obtain or retain business. We also adhere to guidelines issued by the OECD Working Group on Bribery and Chile's obligations under the OECD Anti-Bribery Convention. Our business operations also must be conducted in compliance with applicable economic sanctions laws and regulations, including rules administered by the United Nations Security Council, Chile's Ministry of Foreign Affairs, and other relevant authorities.

Many of the laws and regulations to which we are subject are still evolving and being tested in courts and could be interpreted in ways that could harm our business. In addition, the application and interpretation of these laws and regulations often are uncertain, particularly in the rapidly evolving industry in which we operate. Compliance with these laws, regulations and similar requirements may be onerous and expensive, and variances and inconsistencies from jurisdiction to jurisdiction may further increase the cost of compliance and doing business. New laws and regulations or changes to existing laws and regulations imposing these or other restrictions could limit or inhibit our ability to operate, or our clients' ability to continue to use, our platform. We regularly work with outside counsel to support our compliance with such laws and regulations and adjust our policies accordingly.

While our direct environmental footprint is modest, we pursue operational efficiencies in our field operations and evaluate opportunities to digitize historically paper-based processes, including mobile ticket adoption that reduces physical waste. We monitor emerging disclosure expectations and seek to align with applicable frameworks as feasible for our scale and markets.

**Data Privacy and Security**

Maintaining the trust of customers and partners who use our platform is fundamental to our success. Compliance with applicable data protection, data privacy and security laws, rules, regulations, policies, industry standards and other legal obligations regulating the collection, storage, sharing, disclosure, transfer, use and other processing of personal data is integral to our business strategy and to the creation and maintenance of trust in our platform. We take a variety of technical and organizational security measures and other procedures and protocols designed to protect our data and information, including personal data and other data pertaining to customers, partners, employees and other parties, and to maintain compliance with changing local and international data privacy regulations.

Our privacy framework embodies GDPR principles including privacy by design, data minimization, purpose limitation, and accountability. We implement comprehensive privacy impact assessments for new features before launch, maintain detailed data processing records, and provide transparent privacy notices compliant with international best practices. The Chief Technology Officer of Ticketplus SpA serves as a Data Protection Officer, ensuring privacy considerations are integrated into strategic and operational decisions.

Our payment processing compliance follows PCI DSS requirements appropriate for our role as service provider accepting and transmitting cardholder data across multiple countries and payment networks. Our compliance approach emphasizes tokenization and encryption to minimize systems processing actual payment credentials, implementing security controls that meet international card network standards regardless of local regulatory minimums. We are in the process of implementing AI-enabled reconciliation capabilities to automate transaction matching and improve financial reporting accuracy.

Our cybersecurity governance includes formal designation of a Chief Information Security Officer role within Ticketplus SpA (currently held by the Chief Technology Officer), structured incident response procedures aligned with international incident notification frameworks, and regular security audits conducted against standards including ISO 27001 and SOC 2 principles. This governance structure positions us to maintain security certifications as we scale and enables compliance with enterprise customer security requirements.

Our software development lifecycle incorporates security at every stage. We encrypt data, enforce role-based access with multi-factor authentication, network security with web application firewall and DDoS protection, automated vulnerability scanning and automated scanning and third-party penetration tests. All code changes are subject to peer review before deployment. Continuous integration pipelines execute automated testing, security scanning, and validation before production release.

Despite certain systems and processes that are designed to protect information and prevent security breaches or incidents, we may be unable to anticipate or prevent accidental or unauthorized access to or processing of data. In addition, the personal data that we collect, especially financial information, is regulated by multiple laws, including several data privacy laws. Such laws may be interpreted and applied inconsistently from country to country. In many cases, these laws apply not only to third-party transactions, but also to transfers of information between or among ourselves, our subsidiaries and other parties with which we have commercial relationships. See "*Risk Factors—Risks Related to Government Regulation and Being a Public Company*" for more information.

**Anti-Money Laundering — Cayman Islands**

If any person in the Cayman Islands knows or suspects, or has reasonable grounds for knowing or suspecting, that another person is engaged in criminal conduct or money laundering or is involved with terrorism or terrorist and/or proliferation financing or property and the information for that knowledge or suspicion came to their attention in the course of business in the regulated sector or other trade, profession, business or employment, and/or if any person has frozen the funds of anyone involved in proliferation financing, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands ("FRA") or a nominated officer, pursuant to the Proceeds of Crime Act (as amended) of the Cayman Islands if the disclosure relates to criminal conduct including without limitation, money laundering or proliferation financing, (ii) a police officer of the rank of constable or higher, or the FRA, pursuant to the Terrorism Act (as amended) of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property or (iii) the FRA, pursuant to the Proliferation Financing (Prohibition) Act (as amended) of the Cayman Islands, if the disclosure relates to details of any frozen funds or economic resources or actions taken in compliance with the prohibition requirements of the relevant United Nations Security Council measures. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise. We reserve the right to refuse to make any payment to a shareholder if our directors or officers suspect or are advised that the payment to such shareholder might result in a breach of applicable anti-money laundering, counter-terrorist financing, prevention of proliferation financing or financial sanctions or other laws or regulations by any person in any relevant jurisdiction, or if such refusal is considered necessary or appropriate to ensure our compliance with any such laws or regulations in any applicable jurisdiction.

Should a shareholder or its duly authorized delegates or agents be, or become (or is believed by the Company or its affiliates ("Agents") to be or become) at any time while it owns or holds an interest in the Company, (a) an individual or entity named on any sanctions list maintained by the United Kingdom (including as extended to the Cayman Islands by Orders in Council) or the Cayman Islands or any similar list maintained under applicable law or is otherwise subject to applicable sanctions in the Cayman Islands (a "Sanctions Subject") or (b) an entity owned or controlled directly or indirectly by a Sanctions Subject, as determined by the Company in its sole discretion, then (i) the Company or its Agents may immediately and without notice to the shareholder cease any further dealings with the shareholder or freeze any dealings with the interests or accounts of the shareholder (e.g., by prohibiting payments by or to the shareholder or restricting or suspending dealings with the interests or accounts) or freeze the assets of the Company (including interests or accounts of other shareholders who are not Sanctions Subjects), until the relevant person ceases to be a Sanctions Subject or a license is obtained under applicable law to continue such dealings (a "Sanctioned Persons Event"), (ii) the Company, its Agents and/or service providers may be required to report such action or failure to comply with information requests and to disclose the shareholder's identity (and/or the identity of the shareholder's beneficial owners and control persons) to the Cayman Islands Monetary Authority, the FRA, or other applicable governmental or regulatory authorities (without notifying the shareholder that such report has been made or information has been so provided); such a report or disclosure shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise, and (iii) the Company and its Agents have no liability whatsoever for any liabilities, costs, expenses, damages and/or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of revenue, loss of reputation and all interest, penalties and legal costs and all other professional costs and expenses) incurred by the shareholder as a result of a Sanctioned Persons Event.

**Economic Substance - Cayman Islands**

The Cayman Islands, together with several other non-European Union jurisdictions, have introduced legislation aimed at addressing concerns raised by the Council of the European Union and the OECD as to offshore structures engaged in certain activities which attract profits without real economic activity. The International Tax Co-operation (Economic Substance) Act (as amended) (the "Substance Act") imposes certain economic substance requirements for in-scope Cayman Islands entities which are engaged in certain geographically mobile business activities ("relevant activities.") As we are a Cayman Islands exempted company, compliance obligations include filing annual notifications, in which we need to state whether we are carrying out any relevant activities and if so, whether we have satisfied economic substance tests to the extent required under the Substance Act. Based on the current interpretation of the Substance Act, we believe that our company is a pure equity holding company as it only holds equity participations in other entities and only earns dividends and capital gains. Accordingly, for so long as our company is a "pure equity holding company", it is only subject to the minimum substance requirements, which require us to (i) comply with all applicable filing requirements under the Cayman Companies Act; and (ii) have adequate human resources and adequate premises in the Cayman Islands for holding and managing equity participations in other entities. However, there is no assurance that we will not be subject to additional requirements under the Substance Act. Failure to satisfy applicable requirements may subject us to penalties under the Substance Act.

**Data Protection in the Cayman Islands – Privacy Notice**

We have certain duties under the Data Protection Act (as amended) of the Cayman Islands and any regulations, codes of practice, or orders promulgated pursuant thereto (the "DPA") based on internationally accepted principles of data privacy.

**Privacy Notice**

 ****

***Introduction***

This privacy notice puts our shareholders on notice that through your investment in the Company you will provide us with certain personal information which constitutes personal data within the meaning of the DPA ("personal data").

For the purposes of this privacy notice, the "Company", "we", "us" and "our" refers to the Company and its affiliates and/or delegates, and "you" or "your" means the shareholder and also includes any individual connected to the shareholder, in each case except where the context requires otherwise.

We are committed to processing personal data in accordance with the DPA. In our use of personal data, we will be characterized under the DPA as a "data controller," whilst certain of our service providers, affiliates, and delegates may act as "data processors" under the DPA. These service providers may process personal data for their own lawful purposes in connection with services provided to us.

By virtue of your investment in the Company, we and certain of our service providers may collect, record, store, transfer, and otherwise process personal data by which individuals may be directly or indirectly identified. We may combine personal data that you provide to us with personal data that we collect from, or about you. This may include personal data collected in an online or offline context including from credit reference agencies and other available public databases or data sources, such as news outlets, websites and other media sources and international sanctions lists.

Your personal data will be processed fairly and for lawful purposes, including (a) where the processing is necessary for us to perform a contract to which you are a party or for taking pre-contractual steps at your request, (b) where the processing is necessary for compliance with any legal, tax, or regulatory obligation to which we are subject, or (c) where the processing is for the purposes of legitimate interests pursued by us or a third party to whom the data are disclosed where we consider that, on balance, our (or their) legitimate interests are not overridden by your rights, freedoms or legitimate interests. As a data controller, we will only use your personal data for the purposes for which we collected it. If we need to use your personal data for an unrelated purpose, we will contact you.

We anticipate that we will share your personal data with our service providers for the purposes set out in this privacy notice. We may also share relevant personal data where it is lawful to do so and necessary to comply with our contractual obligations or your instructions or where it is necessary or desirable to do so in connection with any regulatory reporting obligations. In exceptional circumstances, we will share your personal data with regulatory, prosecuting, and other governmental agencies or departments, and parties to litigation (whether pending or threatened), in any country or territory including to any other person where we have a public or legal duty to do so (e.g. to assist with detecting and preventing fraud, tax evasion, and financial crime or compliance with a court order).

Your personal data shall not be held by the Company for longer than necessary with regard to the purposes of the data processing.

We will not sell your personal data. Any transfer of personal data outside of the Cayman Islands shall be in accordance with the requirements of the DPA. Where necessary, we will ensure that appropriate legal agreements are put in place with the recipient of that data.

***Shareholder Data***

We will collect, use, disclose, retain and secure personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities on an ongoing basis or to comply with legal and regulatory obligations to which we are subject. We will only transfer personal data in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of the personal data and against the accidental loss, destruction or damage to the personal data.

In our use of this personal data, we will be characterized as a "data controller" for the purposes of the DPA, while our affiliates and service providers who may receive this personal data from us in the conduct of our activities may either act as our "data processors" for the purposes of the DPA or may process personal information for their own lawful purposes in connection with services provided to us.

We may also obtain personal data from other public sources. Personal data includes, without limitation, the following information relating to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder's investment activity.

***Who this Affects***

If you are a natural person, this will affect you directly. If you are a corporate shareholder (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any reason in relation to your investment in the Company, this will be relevant for those individuals and you should transmit the content of this privacy notice to such individuals or otherwise advise them of its content.

** *How the Company May Use Your Personal Data***

The Company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular:

&nbsp;&nbsp;&nbsp;&nbsp;(i) for the performance of our contractual rights and obligations, including without limitation, under any
purchase, subscription and/or underwriting agreements and our amended and restated memorandum and articles of association;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) for compliance with our legal and regulatory obligations (such as compliance with anti-money laundering,
counter terrorist financing, prevention of proliferation financing, financial sanctions, FATCA/CRS requirements, addressing requests from
governmental, regulatory, tax and law enforcement authorities, beneficial ownership and maintaining statutory registers);

&nbsp;&nbsp;&nbsp;&nbsp;(iii) our legitimate interests or those of a third party where we consider that, on balance, our (or their)
legitimate interests are not overridden by your rights, freedoms or legitimate interests; and/or

&nbsp;&nbsp;&nbsp;&nbsp;(iv) where you otherwise consent to the processing of personal data for any other specific purpose.

Should we wish to use personal data for other specific purposes (including, if applicable, any purpose that requires your consent), we will contact you.

 ****

***Why We May Transfer Your Personal Data***

We will only transfer personal data in accordance with the requirements of the DPA. We may transfer your personal data to certain third parties, who will process your personal data on our behalf, including third party service providers that we appoint or engage to assist with the Company's management, operation, administration and legal, governance and regulatory compliance. In certain circumstances, we may be legally obliged to share personal data and other information with respect to your shareholding with the relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities.

We anticipate disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain entities located outside the U.S., the Cayman Islands or the European Economic Area) which jurisdictions may not have data protection laws equivalent to the DPA. This may be necessary for one of a number of reasons, including for the performance of our contractual rights and obligations, under an agreement with a third party that is in your interests, or in connection with international cooperation arrangements between governmental, regulatory, tax and law enforcement authorities.

 ****

***The Data Protection Measures We Take***

Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance with the requirements of the DPA.

We and our duly authorized affiliates and/or delegates shall apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data.

We shall notify you of any personal data breach in accordance with the DPA.

*Rights of Individual Data Subjects*

 

Individual data subjects have certain data protection rights, including the right to:

● be informed about the purposes for which your personal data are processed;

● access your personal data and receive information about its use;

● stop direct marketing;

● stop or restrict the processing of your personal data, subject to certain exemptions;

● have incomplete or inaccurate personal data corrected;

● be informed of a personal data breach (unless the breach is unlikely to be prejudicial to you);

● complain to the Data Protection Ombudsman; and

● require us to delete your personal data in some limited circumstances.

If you consider that your personal data has not been handled correctly, or you are not satisfied with the Company's responses to any requests you have made regarding the use of your personal data, you have the right to complain to the Cayman Islands' Ombudsman. The Ombudsman can be contacted by calling +1 (345) 946-6283 or by email at info@ombudsman.ky.

**MANAGEMENT**

**Directors and Executive Officers**

The following table sets forth certain information regarding our directors and executive officers.

---

| | | |
|:---|:---|:---|
| **NAME** | **AGE** | **POSITION** |
| Chien-Fu Chen Chen | 37 | Chief Executive Officer and Director |
| Joaquín Jadue | 37 | Chief Financial Officer |
| Yethro Dinamarca Santelices | 36 | Director and Chair of the Board |
| [ ] | [ ] | Director Nominee<sup>(1)</sup> |
| [ ] | [ ] | Director Nominee<sup>(1)</sup> |
| [ ] | [ ] | Director Nominee<sup>(1)</sup> |

---

(1) To be appointed to our board of directors effective automatically
 upon the effectiveness of the registration statement of which this prospectus forms a part.

 ****

***Chien-Fu Chen Chen*** has served as our Chief Executive Officer and a member of our board of directors since December 2025. Mr. Chen co-founded Ticketplus SpA in December 2014 and served as its Chief Technology Officer until October 2019 when he became the Chief Executive Officer. During his tenure, Mr. Chen has helped Ticketplus evolve from a bootstrapped startup into one of the leading digital ticketing platforms in Latin America, combining proprietary technology, operational scale, and a strong focus on automation and efficiency. He brings a technology-driven approach to executive leadership that emphasizes automation, data-driven decision-making, and scalable operations rather than traditional administrative structures. During the COVID-19 pandemic, Mr. Chen demonstrated strong crisis management and adaptability by rapidly pivoting Ticketplus' business model, accelerating the development of live streaming capabilities and digital tools to support producers and venues. In addition, Mr. Chen has led the development of Ticketplus' proprietary technology suite. Mr. Chen earned a bachelor's degree in Civil Engineering in Computer Science and Telecommunications from Universidad Diego Portales in Santiago, Chile.

***Joaquín Jadue*** has served as our Chief Financial Officer since December 2025. Mr. Jadue co-founded Ticketplus SpA in December 2014 and served as its Chief Executive Officer until May 2019 when he became the Chief Marketing Officer, a position he held until April 2021. From April 2021 to July 2022 and since January 2025, Mr. Jadue has served as the Chief Financial Officer and, from July 2022 to January 2025, he served as Chief Operating Officer and Head of Business Development, overseeing operational optimization, regional scalability, and strategic expansion initiatives across Latin America culminating with a presence in 11 countries. Throughout his tenure, Mr. Jadue has played a key role in shaping Ticketplus' financial strategy, operational infrastructure, and long-term growth trajectory by establishing financial planning and analysis frameworks, implementing internal financial controls, and leading capital allocation decisions during critical phases of growth while also laying the foundation for Ticketplus' current operations by securing early-stage financing, building the foundational team, and establishing key relationships with producers and venues. Mr. Jadue earned a bachelor's degree in in Industrial Civil Engineering from the University of Chile in Santiago, Chile.

***Yethro Dinamarca Santelices*** has served as a member and the Chair of our board of directors since December 2025. Mr. Dinamarca joined Ticketplus in June 2018 as a shareholder and has since played a central role in defining its long-term strategy, corporate structuring, and governance framework. Early in his professional career, Mr. Dinamarca worked in the energy and infrastructure sector, as a Strategic Developer Manager from January 2014 to December 2015 with Sky Solar Holdings, Ltd., an international renewable energy company that was listed on Nasdaq until it merged in October 2020 with Square Acquisition Co, where he was involved in the development, structuring, and financing of solar photovoltaic energy projects in Uruguay, supported by long-term power purchase agreements with UTE, a state-owned company of Uruguay, and with the participation of the Inter-American Development Bank (IDB). Since 2017, Mr. Dinamarca has participated at a strategic level as a shareholder in the structuring, oversight, and allocation of capital in the real estate sector in Chile, working with Chile's leading banks and insurance companies in financing, refinancing, and structuring institutional-grade urban real estate assets, with a focus on income-generating, long-term investment models. Also, since 2017, Mr. Dinamarca has participated as a shareholder in technology companies with long-standing operating histories, focused on the development of mission-critical solutions for the public sector and higher education, operating in highly regulated environments and maintaining strategic alliances with publicly listed technology companies. Since 2019, Mr. Dinamarca has also participated in long-term investment and ecological conservation projects involving rural assets in Chile, with a focus on environmental preservation, responsible land management, and sustainable value creation, complementing his long-term perspective on capital allocation and project development. Throughout his career, Mr. Dinamarca has been involved in negotiations and the management of complex situations with institutional counterparties, prioritizing constructive solutions, the protection of third parties and stakeholders, and the responsible resolution of contingencies. Between 2009 and 2013, Mr. Dinamarca completed a summer academic program at Harvard University and pursued studies in History and Business Administration at the Pontifical Catholic University of Chile in Santiago, Chile, and at the University of Belgrano in Buenos Aires, Argentina.

***[ ]*** has been nominated to serve as a member of our board of directors effective as of the effective date of the registration statement of which this prospectus forms a part.

***[ ]*** has been nominated to serve as a member of our board of directors effective as of the effective date of the registration statement of which this prospectus forms a part.

***[ ]*** has been nominated to serve as a member of our board of directors effective as of the effective date of the registration statement of which this prospectus forms a part.

No family relationships exist between any of our directors and executive officers. There are no arrangements or understandings with major shareholders, customers, suppliers or others pursuant to which any person referred to above was selected as a director or member of senior management.

**Board of Directors**

Nasdaq's listing rules generally require that a majority of an issuer's board of directors must consist of independent directors. Our board of directors currently consists of two directors, neither of whom are independent within the meaning of Nasdaq's rules. We expect to enter into an independent director agreement with each of [ ], [ ], and [ ], pursuant to which they will be appointed to serve as an independent director effective automatically upon the effectiveness of the registration statement of which this prospectus forms a part. As a result of these expected appointments, our board of directors will consist of five (5) directors, three (3) of whom will be independent within the meaning of Nasdaq's rules.

A director is not required to hold any shares in our company to qualify to serve as a director. Our board of directors may exercise all the powers of our company to borrow money, mortgage or charge its undertaking, property and uncalled capital, and to issue debentures, bonds and other securities, subject to applicable stock exchange limitations, if any, whenever money is borrowed or as security for any debt, liability or obligation of our company or of any third-party.

**Board Committees**

Prior to the effective date of the registration statement of which this prospectus forms a part, we plan to establish a standing audit committee, compensation committee and nominating and corporate governance committee of our board of directors. We intend to adopt a charter for each of the three committees. Each committee's members and functions are described below.

***Audit Committee***

Our audit committee will consist of [ ], [ ] and [ ], each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and Nasdaq's rules, with [ ] serving as chair of the audit committee. Our board has determined that [ ] qualifies as an "audit committee financial expert." The audit committee will oversee our accounting and financial reporting processes and the audits of the financial statements of our company.

The audit committee will be responsible for, among other things: (i) retaining and overseeing our independent accountants; (ii) assisting the board in its oversight of the integrity of our financial statements, the qualifications, independence and performance of our independent auditors and our compliance with legal and regulatory requirements; (iii) reviewing and approving the plan and scope of the internal and external audit; (iv) pre-approving any audit and non-audit services provided by our independent auditors; (v) approving the fees to be paid to our independent auditors; (vi) reviewing with our chief executive officer and chief financial officer and independent auditors the adequacy and effectiveness of our internal controls; (vii) overseeing compliance with the our code of ethics; (viii) reviewing hedging transactions; and (ix) reviewing and assessing annually the audit committee's performance and the adequacy of its charter.

***Compensation Committee***

Our compensation committee will consist of [ ], [ ] and [ ], each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and Nasdaq's rules, with [ ] serving as chair of the compensation committee. The compensation committee will assist the board in reviewing and approving the compensation structure, including all forms of compensation, relating to our directors and executive officers.

The compensation committee will be responsible for, among other things: (i) reviewing and approving the remuneration of our executive officers; (ii) making recommendations to the board regarding the compensation of our independent directors; (iii) making recommendations to the board regarding equity-based and incentive compensation plans, policies and programs; and (iv) reviewing and assessing annually the compensation committee's performance and the adequacy of its charter.

***Nominating and Corporate Governance Committee***

Our nominating and corporate governance committee will consist of [ ], [ ] and [ ], each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and Nasdaq's rules, with [ ] serving as chair of the nominating and corporate governance committee. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees.

The nominating and corporate governance committee will be responsible for, among other things: (i) identifying and evaluating individuals qualified to become members of the board by reviewing nominees for election to the board submitted by shareholders and recommending to the board director nominees for each annual meeting of shareholders and for election to fill any vacancies on the board; (ii) advising the board with respect to board organization, desired qualifications of board members, the membership, function, operation, structure and composition of committees (including any committee authority to delegate to subcommittees), and self-evaluation and policies; (iii) advising on matters relating to corporate governance and monitoring developments in the law and practice of corporate governance; and (iv) reviewing and approving related party transactions.

The nominating and corporate governance committee's methods for identifying candidates for election to our board of directors will include the solicitation of ideas for possible candidates from a number of sources - members of our board of directors, our executives, individuals personally known to the members of our board of directors, and other research. The nominating and corporate governance committee may also, from time-to-time, retain one or more third-party search firms to identify suitable candidates.

In making director recommendations, the nominating and corporate governance committee may consider some or all of the following factors: (i) the candidate's judgment, skill, experience with other organizations of comparable purpose, complexity and size, and subject to similar legal restrictions and oversight; (ii) the interplay of the candidate's experience with the experience of other board members; (iii) the extent to which the candidate would be a desirable addition to the board and any committee thereof; (iv) whether or not the person has any relationships that might impair his or her independence; and (v) the candidate's ability to contribute to the effective management of our company, taking into account the needs of our company and such factors as the individual's experience, perspective, skills and knowledge of the industry in which we operate.

**Code of Ethics**

We have adopted a code of ethics that applies to all of our directors, officers and employees, including our principal executive officer, principal financial officer and principal accounting officer. Such code of ethics addresses, among other things, honesty and ethical conduct, conflicts of interest, compliance with laws, regulations and policies, including disclosure requirements under the federal securities laws, and reporting of violations of the code.

A copy of the code of ethics has been filed as an exhibit to the registration statement of which this prospectus is a part. We are required to disclose any amendment to, or waiver from, a provision of our code of ethics applicable to our principal executive officer, principal financial officer, principal accounting officer, controller, or persons performing similar functions. We intend to use our website as a method of disseminating this disclosure as well as by SEC filings, as permitted or required by applicable SEC rules. Any such disclosure will be posted to our website within four (4) business days following the date of any such amendment to, or waiver from, a provision of our code of ethics.

**Duties of Directors**

Under Cayman Islands law, our directors owe fiduciary duties to our company, including:

● a duty to act in good faith in what the director believes to be in the best interests of our company as a whole;

● a duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;

● a duty to not improperly fetter the exercise of future discretion;

● a duty to exercise authority for the purpose for which it is conferred and a duty to exercise powers fairly as between different sections of shareholders;

● a duty not to put themselves in a position in which there is a conflict between their duty to our company and their personal interests; and

● a duty to exercise independent judgment.

In addition to the above, our directors owe our company a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the Company and the general knowledge, skill and experience of that director.

In fulfilling their duties to us, our directors must ensure compliance with our amended and restated memorandum and articles of association, as amended and restated from time to time. Our company has the right to seek damages if a duty owed by our directors is breached. In limited exceptional circumstances, a shareholder may have the right to seek damages in our name if a duty owed by our directors is breached. You should refer to "*Description of Share Capital—Differences in Corporate Law"* for additional information on our standard of corporate governance under Cayman Islands law.

The functions and powers of our board of directors include, among others:

● convening shareholders' annual general meetings and reporting its work to shareholders at such meetings;

● convening shareholders' extraordinary general meetings;

● declaring dividends and distributions;

● appointing officers and determining the term of office of officers;

● exercising the borrowing powers of our company and mortgaging the property of our company; and

● approving the transfer of shares of our company, including the registering of such shares in our share register.

**Conflicts of Interest**

As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position at the expense of the Company. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the memorandum and articles of association or alternatively by shareholder approval at general meetings.

Certain of our officers and directors presently have, and any of them in the future may have additional, fiduciary and contractual duties to other entities. Our amended and restated memorandum and articles of association provide that, among other matters, to the fullest extent permitted by applicable law: (i) no individual serving as a director or an officer shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which may (A) be a corporate opportunity for any director or officer, on the one hand, and us, on the other or (B) the presentation of which would breach an existing legal obligation of any director or officer to any other entity. As a result, if any of our officers or directors becomes aware of a business opportunity which is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, then, subject to their fiduciary duties under Cayman Islands law, he or she will need to honor such fiduciary or contractual obligations to present such business opportunity to such entity, before we can pursue such opportunity. If these other entities decide to pursue any such opportunity, we may be precluded from pursuing the same. However, we do not expect these duties to materially affect our ability to conduct our business.

**Terms of Directors and Officers**

Our directors may be appointed by our shareholders by ordinary resolution, being a resolution of the Company passed by a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at a general meeting. In addition, our board of directors may, by the affirmative vote of a simple majority of the directors present and voting at a board meeting appoint any person as a director either to fill a casual vacancy on our board or as an addition to the existing board. Our officers are appointed by and serve at the discretion of our board of directors.

Our board of directors will initially be divided into three classes, Class I, Class II and Class III, with members of each class serving staggered three-year terms. Under our amended and restated memorandum and articles of association, each director will hold office until the director's term of office has expired and their successor has been duly elected and qualified, or until the director's earlier death, resignation or removal. A director may be removed from office by ordinary resolution of the shareholders or by our board of directors by the affirmative vote of a simple majority of the directors present and voting at a board meeting. A director will also cease to be a director automatically if the director (a) resigns their office by notice in writing to the Company; (b) was only appointed as a director for a fixed term and such term expires; (c) without special leave of absence from our board of directors, is absent from three consecutive meetings of the board and the board resolves that the director has by reason of such absence vacated office; (d) becomes bankrupt or makes any arrangement or composition with the director's creditors generally; (e) dies or in the opinion of the director's registered medical practitioner is or becomes of unsound mind; (f) ceases to be a director by virtue of, or becomes prohibited from being a director by reason of, an order made under any applicable law; or (g) is removed from office by notice addressed to the director at their last known address and signed by all of the other directors (not being less than two in number).

**Employment and Indemnification Agreements**

We intend to enter into employment agreements with our executive officers. Our executive officers will be employed for a specified time period, which will be automatically extended unless either we or the executive officers give prior notice to terminate such employment. We will be able to terminate the employment for cause, at any time, without notice or remuneration, for certain acts of the executive officer, including but not limited to the commitments of any serious or persistent breach or non-observance of the terms and conditions of the employment, conviction of a criminal offense other than one which in the opinion of the board of directors does not affect the executive's position, willful, disobedience of a lawful and reasonable order, misconducts being inconsistent with the due and faithful discharge of the executive officer's material duties, fraud or dishonesty, or habitual neglect of his or her duties. An executive officer may terminate his or her employment at any time with not less than 30 days' prior written notice.

Our amended and restated memorandum and articles of association will provide that our officers and directors will be indemnified by us to the fullest extent permitted by law, as it now exists or may in the future be amended, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect.

Additionally, we intend to enter into agreements to indemnify our directors and our executive officers to the maximum extent allowed under applicable law. Under the form of indemnification agreement filed as an exhibit to this registration statement of which this prospectus forms a part, we will agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being such a director or executive officer.

**Compensation of Directors and Executive Officers**

We recorded $482,808 in total compensation to directors and executive officers for the year ended December 31, 2025. None of our directors or executive officers received any equity awards, including options, restricted shares or other equity incentives in the year ended December 31, 2025. We have not set aside or accrued any additional amount to provide pension, retirement or other similar benefits to our directors and executive officers. Our board of directors may determine compensation to be paid to the directors and the executive officers. The compensation committee will assist the directors in reviewing and approving the compensation structure for the directors and the executive officers. In connection with this offering, we adopted an equity incentive plan, see "—*Equity Incentive Plan*" below.

Under their independent director agreements with us, each independent director will receive an annual cash fee and an initial share option award upon the consummation of the Company's initial public offering, or the Effective Time. We will pay the annual cash compensation fee to each independent director in four equal installments no later than the fifth business day of each calendar quarter commencing in the quarter following the Effective Time. Under their agreements, each independent director shall be granted a share option, with an exercise price equal to $[ ], to purchase [ ] Ordinary Shares. The share option will vest over [ ] beginning at the Effective Time at a rate of [ ]. We will also reimburse each independent director for pre-approved reasonable business-related expenses incurred in good faith in connection with the performance of the independent director's duties for us. As also required under the independent director agreements, we have separately entered into a standard indemnification agreement with each of our independent directors, the term of which will begin at the Effective Time.

**Equity Incentive Plan**

Our board of directors approved the Ticketplus Ltd. 2026 Equity Incentive Plan, or the 2026 Plan, on May 27, 2026.

***Purpose of the 2026 Plan***: The purpose of the 2026 Plan is to advance our interests and the interests of our shareholders by providing an incentive to attract, retain and reward persons performing services for us and by motivating such persons to contribute to our growth and profitability. The maximum number of Ordinary Shares that may be issued pursuant to awards granted under the 2026 Plan will be 2,000,000 shares. Cancelled and forfeited share options and share awards may again become available for grant under the 2026 Plan. As of the date of this prospectus, we have not granted any share options under the 2026 Plan and all 2,000,000 shares remain available for issuance under the 2026 Plan. [We expect to grant awards for a total of [ ] Ordinary Shares under the 2026 Plan upon the consummation of the Company's initial public offering.] We intend that awards granted under the 2026 Plan be exempt from or comply with Section 409A of the Internal Revenue Code, or the Code (including any amendments or replacements of such section), and the 2026 Plan shall be so construed.

The following summary briefly describes the principal features of the 2026 Plan and is qualified in its entirety by reference to the full text of the 2026 Plan.

Awards that may be granted include: (a) Incentive Share Options, or ISO (b) Non-qualified Share Options, (c) Share Appreciation Rights, (d) Restricted Shares, (e) Restricted Share Units, or RSUs, (f) Shares granted as a bonus or in lieu of another award, and (g) Performance Awards. These awards offer us and our shareholders the possibility of future value, depending on the long-term price appreciation of the Ordinary Shares and the award holder's continuing service with us.

Share options give the option holder the right to acquire from us a designated number of Ordinary Shares at a purchase price that is fixed at the time of the grant of the option. The exercise price will not be less than the market price of the Ordinary Shares on the date of grant. Share options granted may be either incentive share options or non-qualified share options.

Share appreciation rights, or SARs, which may be granted alone or in tandem with options, have an economic value similar to that of options. When an SAR for a particular number of shares is exercised, the holder receives a payment equal to the difference between the market price of the shares on the date of exercise and the exercise price of the shares under the SAR. Again, the exercise price for SARs normally is the market price of the shares on the date the SAR is granted. Under the 2026 Plan, holders of SARs may receive this payment – the appreciation value – either in cash or Ordinary Shares valued at the fair market value on the date of exercise. The form of payment will be determined by us.

Restricted shares are awards of a right to receive Ordinary Shares on a future date. Restricted Share Unit Awards are evidenced by award agreements in such form as our board of directors shall from time to time establish. Restricted shares can take the form of awards of restricted shares, which represent issued and outstanding Ordinary Shares subject to vesting criteria, or restricted share units, which represent the right to receive Ordinary Shares subject to satisfaction of the vesting criteria. Restricted shares are forfeitable and non-transferable until the shares vest. The vesting date or dates and other conditions for vesting are established when the shares are awarded.

Our board of directors may grant Ordinary Shares to any eligible recipient as a bonus, or to grant shares or other awards in lieu of obligations to pay cash or deliver other property under the 2026 Plan or under other plans or compensatory arrangements.

The 2026 Plan also provides for performance awards, representing the right to receive a payment, which may be in the form of cash, Ordinary Shares, or a combination, based on the attainment of pre-established goals.

All of the permissible types of awards under the 2026 Plan are described in more detail below.

***Administration of the 2026 Plan:*** The 2026 Plan is currently administered by our board of directors. All questions of interpretation of the 2026 Plan, of any award agreement or of any other form of agreement or other document employed by us in the administration of the 2026 Plan or of any award shall be determined by the board of directors, and such determinations shall be final, binding and conclusive upon all persons having an interest in the 2026 Plan or such award, unless fraudulent or made in bad faith. Any and all actions, decisions and determinations taken or made by the board of directors. in the exercise of its discretion pursuant to the 2026 Plan or award agreement or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence) shall be final, binding and conclusive upon all persons having an interest therein.

***Eligible Recipients:*** Persons eligible to receive awards under the 2026 Plan will be those employees, consultants and directors of us or of any of our subsidiaries.

***Shares Available Under the 2026 Plan:*** The maximum aggregate number of Ordinary Shares that may be issued under the 2026 Plan shall be 2,000,000 shares and shall consist of authorized but unissued or reacquired Ordinary Shares or any combination thereof, subject to adjustment for certain corporate changes affecting the shares, such as share splits, merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, or share dividend. Shares subject to an award under the 2026 Plan for which the award is canceled, forfeited, surrendered, or expires again become available for grants under the 2026 Plan.

***Share Options and Share Appreciation Rights:***

 

*General.* Share options and SARs shall be evidenced by award agreements specifying the number of Ordinary Shares covered thereby, in such form as the board of directors shall from time to time establish. Each share option grant will identify the option as an ISO or Non-qualified Share Option. Subject to the provisions of the 2026 Plan, the administrator has the authority to determine all grants of share options. That determination will include: (i) the number of shares subject to any option; (ii) the exercise price per share; (iii) the expiration date of the option; (iv) the manner, time and date of permitted exercise; (v) other restrictions, if any, on the option or the shares underlying the option; and (vi) any other terms and conditions as the administrator may determine.

*Option Price*. The exercise price for each share option or SAR shall be established in the discretion of the board of directors; provided, however, that the exercise price per share for the share option or SAR shall be not less than the fair market value of an Ordinary Share on the effective date of grant of the share option or SAR. Notwithstanding the foregoing, a share option or SAR may be granted with an exercise price lower than the minimum exercise price set forth above if such share option or SAR is granted pursuant to an assumption or substitution for another option in a manner qualifying under the provisions of Section 424(a) of the Code.

*Exercise of Options.* Share options may be immediately exercisable but subject to repurchase or may be exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the board of directors and set forth in the award agreement evidencing such share option. No share option or SAR shall be exercisable after the expiration of ten (10) years after the effective date of grant of such share option or SAR. Subject to the foregoing, unless otherwise specified by the board of directors in the grant of a share option or SAR, any share option or SAR granted hereunder shall terminate ten (10) years after the effective date of grant of the share option or SAR, unless earlier terminated in accordance with its provisions. The board of directors may set a reasonable minimum number of Ordinary Shares that may be exercised at any one time.

*Expiration or Termination.* Options, if not previously exercised, will expire on the expiration date established by the administrator at the time of grant. In the case of incentive share options, such term cannot exceed seven years provided that in the case of holders of more than 10% of our total combined voting shares, such term cannot exceed five years. Options will terminate before their expiration date if the holder's service with our company or a subsidiary terminates before the expiration date. The option may remain exercisable for specified periods after certain terminations of employment, including terminations as a result of death, disability or retirement, with the precise period during which the option may be exercised to be established by the administrator and reflected in the grant evidencing the award.

*Incentive Share Options.* Share options intending to qualify as ISOs may only be granted to employees, as determined by the board of directors. No ISO shall be granted to any person if immediately after the grant of such award, such person would own Ordinary Shares, including Ordinary Shares subject to outstanding awards held by him or her under the 2026 Plan or any other plan established by the Company, amounting to more than ten percent (10%) of the total combined voting power or value of all classes of Ordinary Shares of the Company. To the extent that the award agreement specifies that an Option is intended to be treated as an ISO, the Option is intended to qualify to the greatest extent possible as an "incentive stock option" within the meaning of Section 422 of the Code, and shall be so construed; provided, however, that any such designation shall not be interpreted as a representation, guarantee or other undertaking on the part of the Company that the Option is or will be determined to qualify as an ISO. If and to the extent that any shares are issued under a portion of any Option that exceeds the $100,000 limitation of Section 422 of the Code, such Ordinary Shares shall not be treated as issued under an ISO notwithstanding any designation otherwise.

***Restricted Share Awards:*** Share awards can also be granted under the 2026 Plan. A share award is a grant of Ordinary Shares or of a right to receive shares in the future. These awards will be subject to such conditions, restrictions and contingencies as the administrator shall determine at the date of grant. Those may include requirements for continuous service and/or the achievement of specified performance goals.

***Restricted Share Units***: RSU Awards shall be evidenced by award agreements in such form as the board of directors shall from time to time establish. The purchase price for shares issuable under each RSU Award shall be established by the board of directors in its discretion. Except as may be required by Applicable Law or established by the board of directors, no monetary payment (other than applicable tax withholding) shall be required as a condition of receiving an RSU Award. Shares issued pursuant to any RSU Award may (but need not) be made subject to vesting conditions based upon the satisfaction of such Service requirements, conditions, restrictions or Performance Criteria, as shall be established by the board of directors and set forth in the award agreement evidencing such award.

***Performance Criteria****:* Under the 2026 Plan, Performance Criteria means business criteria including, but not limited to: revenue; revenue growth; earnings before interest and taxes; earnings before interest, taxes, depreciation and amortization; earnings per share; operating income; pre- or after-tax income; net operating profit after taxes; economic value added (or an equivalent metric); ratio of operating earnings to capital spending; cash flow (before or after dividends); cash-flow per share (before or after dividends); net earnings; net sales; sales growth; share price performance; return on assets or net assets; return on equity; return on capital (including return on total capital or return on invested capital); cash flow return on investment; total shareholder return; improvement in or attainment of expense levels; and improvement in or attainment of working capital levels or Performance Criteria. Any Performance Criteria may be used to measure the Company's performance as a whole or any of the Company's business units and may be measured relative to a peer group or index.

***Performance Awards.*** Performance awards shall be evidenced by award agreements in such form as the board of directors shall from time to time establish. Each performance award shall entitle the participant to a payment in cash or Ordinary Shares upon the attainment of Performance Criteria and other terms and conditions specified by the board of directors. Notwithstanding the satisfaction of any Performance Criteria, the amount to be paid under a performance award may be adjusted by the board of directors on the basis of such further consideration as the board of directors in its sole discretion shall determine. The board of directors may, in its discretion, substitute actual Ordinary Shares for the cash payment otherwise required to be made to a participant pursuant to a performance award.

***Bonus Shares and Awards in Lieu of Obligations.*** The board of directors may grant Ordinary Shares to any eligible recipient as a bonus, or to grant Ordinary Shares or other awards in lieu of obligations to pay cash or deliver other property under the 2026 Plan or under other plans or compensatory arrangements, provided that, in the case of participants subject to Section 16 of the Exchange Act, the amount of such grants remains within the discretion of the board of directors to the extent necessary to ensure that acquisitions of Ordinary Shares or other awards are exempt from liability under Section 16(b) of the Exchange Act. Ordinary Shares or awards granted hereunder shall be subject to such other terms as shall be determined by the board of directors.

***Other Material Provisions:*** Awards will be evidenced by a written agreement, in such form as may be approved by the administrator. In the event of various changes to the capitalization of our company, such as share splits, share dividends and similar re-capitalizations, an appropriate adjustment will be made by the administrator to the number of shares covered by outstanding awards or to the exercise price of such awards. The administrator is also permitted to include in the written agreement provisions that provide for certain changes in the award in the event of a change of control of our company, including acceleration of vesting. Except as otherwise determined by the administrator at the date of grant, awards will not be transferable, other than by will or the laws of descent and distribution. Prior to any award distribution, we are permitted to deduct or withhold amounts sufficient to satisfy any employee withholding tax requirements. Our board of directors also has the authority, at any time, to discontinue the granting of awards. The board of directors also has the authority to alter or amend the 2026 Plan or any outstanding award or may terminate the 2026 Plan as to further grants, provided that no amendment will, without the approval of our shareholders, to the extent that such approval is required by law or the rules of an applicable exchange, increase the number of shares available under the 2026 Plan, change the persons eligible for awards under the 2026 Plan, extend the time within which awards may be made, or amend the provisions of the 2026 Plan related to amendments. No amendment that would adversely affect any outstanding award made under the 2026 Plan can be made without the consent of the holder of such award.

**PRINCIPAL SHAREHOLDERS**

The following table sets forth certain information with respect to the beneficial ownership of our Ordinary Shares as of the date of this prospectus for (i) each of our executive officers and directors; (ii) all of our executive officers and directors as a group; and (iii) each other shareholder known by us to be the beneficial owner of more than 5% of a class of our voting securities. The following table assumes that the underwriters have not exercised the over-allotment option.

Beneficial ownership is determined in accordance with SEC rules and generally includes voting or investment power with respect to securities. For purposes of this table, a person or group of persons is deemed to have "beneficial ownership" of any Ordinary Shares that such person or any member of such group has the right to acquire within sixty (60) days of the date of this prospectus. For purposes of computing the percentage of outstanding shares held by each person or group of persons named below, any shares that such person or persons has the right to acquire within sixty (60) days of the date of this prospectus are deemed to be outstanding for such person, but not deemed to be outstanding for the purpose of computing the percentage ownership of any other person. The inclusion herein of any shares listed as beneficially owned does not constitute an admission of beneficial ownership by any person.

Unless otherwise indicated, the address of each beneficial owner listed in the table below is c/o our company, Ticketplus Ltd., Alonso de Córdova 5320, Piso 16, Las Condes, Región Metropolitana, Santiago, Chile.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Ordinary Shares<br> Beneficially Owned <br> Prior to this Offering<sup>(1)</sup>** | **Ordinary Shares<br> Beneficially Owned <br> Prior to this Offering<sup>(1)</sup>** | **Ordinary Shares<br> Beneficially Owned <br> After this Offering<sup>(2)</sup>** | **Ordinary Shares<br> Beneficially Owned <br> After this Offering<sup>(2)</sup>** |
| <br>**Name of Beneficial Owner** | **Ordinary<br> Shares** | **Percent<br> Ownership<br> (%)** | **Ordinary<br> Shares** | **Percent<br> Ownership<br> (%)** |
| Chien-Fu Chen Chen, Chief Executive Officer and Director | 2243733 | 22.0 | [ ] | [ ] |
| Joaquín Jadue, Chief Financial Officer |  |  | [ ] | [ ] |
| Yethro Dinamarca Santelices, Director and Chair of the Board | 7756267 | 76.1 | [ ] | [ ] |
| [ ], Director Nominee |  |  | [ ] | [ ] |
| [ ], Director Nominee |  |  | [ ] | [ ] |
| [ ], Director Nominee | - | - | [ ] | [ ] |
| **All directors and executive officers as a group (6 persons)<sup>(3)</sup>** | **10000000** | **98.1** | [ ] | **[ ]** |

---

\* Less than 1%

(1) Based on 10,189,525 Ordinary Shares issued and outstanding as of
 the date of this prospectus. None of our outstanding Ordinary Shares are held in the United States.

(2) Based on [ ] Ordinary Shares issued and outstanding after
 this offering.

(3) The number of executive officers and directors will increase to
 6 persons upon the consummation of this initial public offering.

We are not aware of any arrangement that may, at a subsequent date, result in a change of control of our company.

**RELATED PARTY TRANSACTIONS**

In addition to the compensation arrangements and employment and indemnification agreements discussed under "*Management*," the following is a description of the material terms of those transactions with related parties to which we are party and which we are required to disclose pursuant to the disclosure rules of the SEC.

**Corporate Reorganization**

On December 3, 2025, we issued one Class B Ordinary Share to Mourant Nominees (Cayman) Limited for total consideration of $0.0001, in connection with the incorporation of Ticketplus Ltd. On December 15, 2025, this share was repurchased by the Company and cancelled.

On December 15, 2025, we entered into a contribution agreement with Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, the shareholders of Ticketplus Group SpA, pursuant to which the shareholders contributed all issued and outstanding ordinary shares of Ticketplus Group SpA to Ticketplus Ltd. in consideration for the allotment and issuance by Ticketplus Ltd. of an aggregate of 10,000,000 Class B Ordinary Shares and 189,525 Class A Ordinary Shares. As a result, Ticketplus Group SpA became our wholly-owned subsidiary.

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

**Amounts Due to Related Parties**

As of December 31, 2025 and December 31, 2024, amounts due to related parties consisted of the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Type** | **Relationship** | **As of<br> December 31,<br> 2025** | **As of<br> December 31,<br> 2024** |
| Joaquín Jadue | Loan | Chief Financial Officer | $**-** | $17357 |
| Sebastian Orellana Moreno | Loan | Shareholder | **-** | 16235 |
| Chien-Fu Chen Chen | Loan | Chief Executive Officer and Director | **-** | 17980 |
| Argentina Real Estate 1 LLC | Loan | Beneficially owned by Yethro Dinamarca Santelices, director and Chair of the board of directors | 2213140 | 1711466 |
| Te vi SpA | Loan | Beneficially owned by Yethro Dinamarca Santelices, director and Chair of the board of directors | 339293 |  |
| Ozmo SpA and its wholly owned subsidiary, Global Services SpA | Trade Payable | Beneficially owned by Yethro Dinamarca Santelices, director and Chair of the board of directors | 3203029 | 106767 |
| **Total** |  |  | $**5755462** | $**1869805** |

---

As of April 1, 2026, the aggregate amount outstanding to all related parties was $5,416,663, consisting of $2,213,140 due to Argentina Real Estate 1 LLC, $339,293 due to Te vi SpA, $2,864,230 due to Ozmo SpA and Global Services SpA.

 

During the periods presented, the largest aggregate amount outstanding to all related parties was $5,755,462. The largest individual amounts outstanding during the periods presented were $3,203,029 due to Ozmo SpA and Global Services SpA, $2,213,140 due to Argentina Real Estate 1 LLC, $339,293 due to Te vi SpA, $17,980 due to Chien-Fu Chen Chen, $17,357 due to Joaquín Jadue, and $16,235 due to Sebastián Orellana Moreno.

 

***Loans***

The amounts due to these related parties are non-trade, unsecured, and non-interest-bearing loans. These loan balances represent working capital provided by the Company's related parties to directly fund core platform software development. The loans have a maturity date of December 31, 2027, which was extended to December 31, 2029 for the loans to Argentina Real Estate 1 LLC and Te vi SpA.

During the year ended December 31, 2025, the Company repaid the balances due to Joaquín Jadue, Sebastián Orellana Moreno, and Chien-Fu Chen Chen from operating cash flow. The balances due to Argentina Real Estate 1 LLC and Te vi SpA increased as a result of additional working capital provided for core platform software development during the year ended December 31, 2025.

***Trade Payables***

Ozmo SpA and Global Services SpA, a wholly owned subsidiary of Ozmo SpA, have been engaged by the Company as technology service providers. The amounts due to these related parties represent ordinary trade payables for services rendered and settled in the ordinary course of business on standard commercial terms. The commercial terms of these arrangements were determined on an arm's length basis, consistent with prevailing market rates for comparable technology services in Chile. There are no loans, advances, guarantees, or other financing arrangements between the Company and either of these related parties, nor are there exclusivity arrangements, proprietary technology owned by these entities, or contractual barriers to transition to other technology service providers.

**Guarantee**

On September 12, 2025, Chien-Fu Chen Chen entered into a purchase-sale, loan and mortgage agreement with Inmobiliaria Sadelle SpA (the "Seller"), Scotiabank Chile, and Ticketplus SpA, pursuant to which Mr. Chen purchased a residential apartment unit from the Seller for a total purchase price of 29,000 Unidades de Fomento ("UF"), approximately $1,160,000. Of such purchase price, 8,700 UF (approximately $348,000) was paid in cash by Mr. Chen and 20,300 UF (approximately $814,000) was financed through a mortgage loan granted by Scotiabank Chile to Mr. Chen in his personal capacity, bearing a fixed annual interest rate of 4.46%, repayable in 360 monthly installments over a 30-year term, following an initial six-month grace period.

The mortgage loan is secured by a first-priority mortgage over the acquired property in favor of Scotiabank Chile, together with prohibitions on disposal, encumbrance, subdivision, and leasing without Scotiabank Chile's prior written consent. In connection with the foregoing transaction, Ticketplus SpA, our principal operating subsidiary in Chile, was constituted as guarantor and joint and several co-debtor (*codeudor solidario*) of all obligations owed by Mr. Chen to Scotiabank Chile under the mortgage loan, on an indivisible basis, expressly waiving the benefit of excussion and accepting in advance any future modifications to the loan terms, including extensions, interest rate changes, and other modalities, without release of its guarantee obligations. The guarantee and joint and several co-debt obligation of Ticketplus SpA was documented both in the public deed of mortgage dated September 12, 2025, and in the related Scotiabank Chile mortgage loan application package dated July 21, 2025, in which Ticketplus SpA was identified as co-debtor. Pursuant to the terms of the guarantee, Scotiabank Chile may collect the full mortgage debt from Ticketplus SpA, at its election, without first pursuing remedies against Mr. Chen or the mortgaged property, and the obligations assumed by Ticketplus SpA survive any restructuring, modification, or extension of the underlying loan.

As of April 28, 2026, the aggregate outstanding amount of the guaranteed obligation is approximately 20,273 UF (approximately $811,000). The terms of the mortgage loan and the related guarantee were negotiated on an arm's-length basis with Scotiabank Chile, a financial institution unaffiliated with us.

The Company has initiated the process to release Ticketplus SpA from its obligations as guarantor and joint and several co-debtor under the mortgage loan, and expects to complete such release prior to the effectiveness of this Registration Statement. If, for any reason, the release cannot be completed prior to the effectiveness of this Registration Statement, then Chien-Fu Chen Chen has agreed to pay off the loan in its entirety prior to the effectiveness of this Registration Statement.

**Related Party Transaction Policy**

Prior to the consummation of this offering, we intend to enter into a new related party transaction policy. Pursuant to such related party transaction policy, any related party transaction must be approved or ratified by our board of directors or a designated committee thereof. In determining whether to approve or ratify a transaction with a related party, our board of directors or the designated committee will consider all relevant facts and circumstances, including without limitation the commercial reasonableness of the terms, the benefit and perceived benefit, or lack thereof, to us, opportunity costs of alternate transactions, the materiality and character of the related party's direct or indirect interest and the actual or apparent conflict of interest of the related party. Our board of directors or the designated committee will not approve or ratify a related party transaction unless it has determined that, upon consideration of all relevant information, such transaction is in, or not inconsistent with, our best interests and the best interests of our shareholders.

**DESCRIPTION OF SHARE CAPITAL**

**General**

We are a Cayman Islands exempted company with limited liability, and our affairs are governed by our amended and restated memorandum and articles of association, the common law of the Cayman Islands and the Companies Act (as amended) of the Cayman Islands, which is referred to as the Cayman Companies Act below.

We were incorporated in the Cayman Islands on December 3, 2025, under the Cayman Companies Act. Our authorized share capital is $35,000 divided into 300,000,000 Ordinary Shares and 50,000,000 preferred shares with a par value of $0.0001 each.

As of the date of this prospectus, we have 10,189,525 Ordinary Shares and no preferred shares issued and outstanding.

Upon the closing of this offering, we will have issued and outstanding [ ] Ordinary Shares, if the maximum number of shares being offered are sold without exercise of the over-allotment option, or [ ] Ordinary Shares, if the maximum number of shares being offered are sold and the underwriters exercise the over-allotment option in full.

**Our Post Offering Amended and Restated Memorandum and Articles of Association** 

The following is a description of the material terms of our amended and restated memorandum and articles of association as will be in effect upon the effectiveness of the registration statement of which this prospectus is a part. The following description may not contain all of the information that is important to you and we therefore refer you to our amended and restated memorandum and articles of association, copies of which are filed with the SEC as exhibits to the registration statement of which this prospectus is a part.

***Objects of Our Company***. Under our amended and restated memorandum and articles of association, the objects of our company are unrestricted, and we are capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit, as provided by section 27(2) of the Cayman Companies Act.

 

***Ordinary Shares***. Our Ordinary Shares are issued in registered form and are issued when registered in our register of members. We may not issue shares to bearer. Our shareholders who are non-residents of the Cayman Islands may freely hold and vote their shares.

***Dividends***. The holders of our Ordinary Shares are entitled to such dividends as may be declared by our board of directors. Our amended and restated memorandum and articles of association provide that, subject to the Cayman Companies Act, our amended and restated articles of association, and the special rights attaching to shares of any class, our directors may, in their absolute discretion, declare dividends and distributions on shares and authorise payment of the dividends or distributions out of the funds of the Company lawfully available therefor. Under Cayman Islands law, a Cayman Islands company may pay a dividend on its shares out of either profit or the share premium account, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business.

 

***Voting Rights***. Holders of Ordinary Shares shall be entitled to vote on all matters submitted to a vote by the members at any general meeting. Each Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote at general meetings of the Company. In addition, all shareholders holding shares of a particular class are entitled to vote at a meeting of the holders of that class of shares. Votes may be given either personally or by proxy.

An ordinary resolution is a resolution of the Company passed by a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at a general meeting. A special resolution is a resolution of the Company passed by the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at a general meeting of the Company of which notice specifying the intention to propose the resolution as a special resolution has been duly given. A special resolution will be required for important matters such as a change of name, making changes to our amended and restated memorandum and articles of association, a reduction of our share capital, transferring by way of continuation to another jurisdiction and the winding up of our company. Our shareholders may, among other things, divide or consolidate their shares by ordinary resolution.

 

 

***General Meetings of Shareholders***. As a Cayman Islands exempted company, we are not obliged by the Cayman Companies Act to call shareholders' annual general meetings. Our amended and restated memorandum and articles of association provide that we shall, to the extent required by the rules of Nasdaq, in each year hold a general meeting as our annual general meeting, and shall specify the meeting as such in the notices calling it, and the annual general meeting shall be held at such time and place as may be determined by our directors in accordance with the rules of Nasdaq. All general meetings (including an annual general meeting and any adjourned general meeting or postponed meeting) may be held as a physical meeting at such times and in any part of the world and at one or more locations, as a hybrid meeting or as an electronic meeting, as may be determined by our board of directors in its absolute discretion.

Shareholders' general meetings may be convened by the chairperson of our board of directors, our chief executive officer or by a majority of our board of directors. Advance notice of not less than five clear days is required for the convening of any general meeting of our shareholders. A quorum required for any general meeting of shareholders consists of, at the time when the meeting proceeds to business, one or more shareholders present, in person or by proxy, holding shares which carry in aggregate not less than one-third of all votes attaching to issued and outstanding shares in our company entitled to attend and vote at such general meeting.

The Cayman Companies Act does not provide shareholders with any general right to requisition a general meeting or to put any proposal before a general meeting. Although these rights may be provided in a company's articles of association, our amended and restated articles of association do not include these rights.

 

Voting at any meeting of shareholders will be by poll, and not by show of hands.

***Advance Notice Requirements for Shareholder Proposals and Director Nominations***. Our amended and restated memorandum and articles of association provide that shareholders seeking to bring business before our annual general meeting, or to nominate candidates for appointment as directors at our annual general meeting, must provide timely notice of their intent in writing. To be timely, a shareholder's notice will need to be received by the company secretary at our principal executive offices not later than the close of business on the 30th day prior to the anniversary date of the immediately preceding annual general meeting. However, if our annual general meeting occurs on a date more than 30 days earlier or later than our preceding annual general meeting, then the directors shall determine a date that is a reasonable period before our annual general meeting by which date the shareholder's notice must be delivered, and shall publicize such date in a filing pursuant to the Exchange Act, or via press release. Such publication shall occur at least 10 days prior to the date set by the directors. As an foreign private issuer, we are not subject the requirements of Exchange Act Rule 14a-8, for shareholder proposals seeking inclusion in proxy statements to comply with the notice periods prescribed therein. However, if we were to lose foreign private issuer status, shareholders seeking to submit proposals for inclusion in our proxy materials would become subject to that rule's requirements. Our amended and restated memorandum and articles of association also specify certain requirements as to the form and content of a shareholders' meeting. Our amended and restated memorandum and articles of association allow the chairperson of a meeting of shareholders to adopt rules and regulations for the conduct of meetings.

***Transfer of Ordinary Shares***. Subject to the restrictions set out below, any of our shareholders may transfer all or any of his or her Ordinary Shares by an instrument of transfer in any form designated by the relevant stock exchange, in the usual or common form or in any other form approved by our board of directors.

Subject to the terms of issue of the relevant share, the applicable stock exchange's rules, any relevant rules of the SEC or applicable securities laws (including, but not limited to, the Securities Act), our board of directors may determine to decline to register any transfer of shares without assigning any reason. If the shares in question were issued in conjunction with rights, options or warrants issued pursuant to our amended and restated articles of association on terms that one cannot be transferred without the other, the board of directors is required to refuse to register the transfer of any such share without evidence satisfactory to them of the simultaneous transfer of such option or warrant.

If our directors refuse to register a transfer, they will return the instrument of transfer to the person who deposited it with the Company.

The registration and transfer of shares may be suspended at such times and for such periods as our board of directors may from time to time determine, subject to the requirements of the relevant stock exchange's rules (including as to notice).

Notwithstanding the foregoing, title to any shares listed on a stock exchange that is an "approved stock exchange" (as defined in the Cayman Companies Act) may be evidenced and transferred in accordance with the laws applicable to, and the rules and regulations of, the relevant approved stock exchange.

***Liquidation***. On the winding up of our company, if the assets available for distribution amongst its shareholders shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus shall be distributed amongst the shareholders in proportion to the par value of the shares held by them at the commencement of the winding up, subject to a deduction from those shares in respect of which there are monies due, of all monies payable to us for unpaid calls or otherwise. If our assets available for distribution are insufficient to repay all of the paid-up capital, the assets will be distributed so that, as nearly as may be, the losses are borne by the shareholders in proportion to the par value of the shares held by them.

***Calls on Shares and Forfeiture of Shares***. Subject to the terms of allotment of the relevant shares, our board of directors may from time to time make calls upon shareholders for any amounts unpaid on their shares in a notice served on such shareholders at least 14 clear days prior to the specified time of payment. If a call remains unpaid after the due date for payment, the shareholder will be liable to pay interest on that amount at such rate as our board of directors may determine, unless the board waives payment of interests in whole or in part. If a call remains unpaid after it has become due and payable, the board may give to the person from whom it is due at least 14 clear days' notice requiring payment of the unpaid amount (together with any accrued interest). If the notice is not complied with, any share in respect of which it was given may, before the payment required by the notice has been made, be forfeited by a resolution of the board.

 

***Redemption, Repurchase and Surrender of Shares***. Subject to the Cayman Companies Act and the relevant stock exchange's rules, we may issue shares or fractions of shares on terms that such shares are subject to redemption, at our option or at the option of the holders of these shares, on such terms and in such manner as may be determined by our board of directors. Our company may also repurchase any of our shares on such terms and in such manner as our board of directors may determine and agree with the relevant shareholder. Under the Cayman Companies Act, the redemption or repurchase of any share may be paid out of our company's profits, share premium account or out of the proceeds of a new issue of shares made for the purpose of such redemption or repurchase, or out of capital if our company can, immediately following the date on which the payment out of capital is proposed to be made, pay its debts as they fall due in the ordinary course of business. In addition, under the Cayman Companies Act no such share may be redeemed or repurchased (a) unless it is fully paid up, (b) if such redemption or repurchase would result in there being no shares outstanding (other than treasury shares held by the Company) or (c) if the Company has commenced liquidation. In addition, our company may accept the surrender of any fully paid share for no consideration.

 

***Variations of Rights of Shares****.* Whenever the capital of our company is divided into different classes the rights attached to any such class may, subject to any rights or restrictions for the time being attached to any class, be varied or abrogated (i) without the consent in writing of the holders of the issued shares of that class where such variation is considered by our board of directors not to have a material adverse effect upon such rights, or (ii) otherwise, only with the consent in writing of the holders of at least two-thirds of the issued shares of that class or with the approval of a resolution passed by a majority of at least two-thirds of the votes cast at a separate meeting of the holders of the shares of that class. The rights conferred upon the holders of the shares of any class or series shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied or abrogated by the creation or issue of further shares ranking in priority to, pari passu with or subsequent to such existing class of shares, the creation or issue of shares having preferred or other rights, any variation of the rights conferred upon the holders of shares of any other class, or the redemption or purchase of any shares of any class by our company.

 

***Issuance of Additional Shares****.* Our amended and restated memorandum and articles of association provides that our board of directors is authorized to, from time to time as our board of directors shall determine:

● allot, issue, grant options over or otherwise dispose of our authorized shares from time to time, with or without preferred, deferred or other rights or restrictions, without prejudice to any rights attached to any existing shares and subject to our amended and restated memorandum and articles of association (and to any direction that may be given by shareholders in general meeting), and, where applicable, the rules of the applicable stock exchange, the SEC and/or any other competent regulatory authority and other under applicable law; and

● issue rights, options, warrants or convertible securities or securities of a similar nature upon such terms as the board may from time to time determine.

Our amended and restated memorandum and articles of association also authorizes, subject to the restrictions on the variation of rights attaching to shares (as described above), our board of directors, or our shareholders by ordinary resolution, to authorize the division of shares into any number of classes and sub-classes and series and sub-series. The different classes and sub-classes and series and sub-series shall be authorized, established and designated (or re-designated as the case may be) and the variations in the relative rights, restrictions, preferences, privileges and payment obligations as between the different classes and series (if any) may be fixed and determined, by our board of directors or by our shareholders by ordinary resolution.

Issuance of these shares may dilute the voting power of holders of Ordinary Shares.

 

***Inspection of Books and Records***. Holders of our Ordinary Shares will have no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or our corporate records. Our amended and restated memorandum and articles of association provide that our board of directors will determine whether and to what extent and at what time and places and under what conditions our accounts and books will be open to the inspection of shareholders (not being directors), and that no such shareholder will have any right of inspection of any account or book or document except as conferred by law or authorized by the board or by ordinary resolution. See "*Where You Can Find Additional Information*."

 

***Anti-Takeover Provisions****.* Some provisions of our amended and restated memorandum and articles of association may discourage, delay or prevent a change of control of our company or management that shareholders may consider favorable, including provisions that:

● classify our board of directors into three classes;

● authorize our board of directors to issue preferred and other shares without any further vote or action by our shareholders, as outlined above; and

● provide that shareholders do not have the power to requisition and convene general meetings of shareholders.

However, under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our amended and restated memorandum and articles of association for a proper purpose and in what they believe in good faith to be in the best interests of our company.

***Exempted Company***. We are an exempted company with limited liability under the Cayman Companies Act. The Cayman Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below:

● annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its operations mainly outside of the Cayman Islands and has complied with the provisions of the Cayman Companies Act;

● an exempted company's register of members is not open to inspection and can be kept outside of the Cayman Islands;

● an exempted company does not have to hold an annual general meeting;

● an exempted company may issue shares with no par value;

● an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 30 years in the first instance);

● an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

● an exempted company may register as a limited duration company; and

● an exempted company may register as a segregated portfolio company.

"Limited liability" means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

***Exclusive Forum Provision***. Our amended and restated memorandum and articles of association provide that unless we consent in writing to the selection of an alternative forum, the courts of the Cayman Islands shall have exclusive jurisdiction over any claim or dispute arising out of or in connection with our amended and restated memorandum and articles of association or otherwise related in any way to each shareholder's shareholding in us, including but not limited to: (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a claim of breach of any fiduciary or other duty owed by any of our current or former directors, officers, or other employees to us or our shareholders; (iii) any action asserting a claim arising pursuant to any provision of the Cayman Companies Act or our amended and restated memorandum and articles of association; or (iv) any action asserting a claim against us governed by the internal affairs doctrine.

INVESTORS CANNOT WAIVE COMPLIANCE WITH THE FEDERAL SECURITIES LAWS AND THE RULES AND REGULATIONS THEREUNDER.

**Differences in Corporate Law** 

Our corporate affairs are governed by our amended and restated memorandum and articles of association and applicable Cayman Islands law, including the Cayman Companies Act. Cayman Islands laws differ from the various state laws applicable to U.S. corporations and their stockholders. The following is a summary of the material differences between Cayman Islands law and the Delaware General Corporation Law, or DGCL. This summary is qualified in its entirety by reference to the DGCL, Cayman Islands laws and our amended and restated memorandum and articles of association. Before investing, you should consult your legal advisor regarding the impact of Cayman Islands corporate law on your specific circumstances and reasons for investing.

***Mergers and Similar Arrangements****.* In certain circumstances, the Cayman Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that it is facilitated by the laws of that other jurisdiction), so as to form a single surviving or consolidated company.

For these purposes, (a) "merger" means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company and (b) a "consolidation" means the combination of two or more constituent companies into a consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company.

Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve and enter into a written plan of merger or consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by (a) a special resolution (usually a majority of two-thirds of the votes of shareholders, who, being entitled to do so, attend and vote at the applicable general meeting) of the shareholders of each company; and (b) such other authorization, if any, as may be specified in such constituent company's articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company, provided the parent company is the surviving entity and a copy of the plan of merger is given to every member of each subsidiary company to be merged unless that member agrees otherwise. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Cayman Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan of merger or consolidation.

 ****

Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign company, the directors of the Cayman Islands exempted company are also required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the following requirements have been met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; (iv) that no scheme, order, compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted; and (v) there are no reasons why it would be against the public interest to allow the merger or consolidation.

Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the following requirements have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or consolidation is bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation.

Where the above procedures are adopted, the Cayman Companies Act provides certain limited appraisal rights for dissenting shareholders to be paid the fair value of their shares upon their dissenting to the merger or consolidation in certain circumstances if they follow a prescribed procedure. In essence, where such rights apply, that procedure is as follows: (a) the shareholder must give a written objection to the merger or consolidation to the constituent company before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for the shareholder's shares if the merger or consolidation is authorized by the vote; (b) within 20 days following the date on which the merger or consolidation is authorized by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must, within 20 days following receipt of such notice from the constituent company, give the constituent company a written notice of the shareholder's intention to dissent including, among other details, a demand for payment of the fair value of the shareholder's shares; (d) within seven days following the date of the expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must make a written offer to each dissenting shareholder to purchase the shareholder's shares at a price that the company determines is the fair value and if the company and the shareholder agree the price within 30 days following the date on which the offer was made, the company must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires, the company must (and any dissenting shareholder may) file a petition with the Cayman Islands Grand Court (the "Grand Court") to determine the fair value of all dissenting shares and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value of their shares have not been reached by the company. At the hearing of that petition, the Grand Court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. A shareholder who dissents must do so in respect of all shares that that person holds in the constituent company. Upon the giving of a notice of dissent described in (c) above, the shareholder to whom the notice relates shall cease to have any of the rights of a shareholder except the right to be paid the fair value of that person's shares and certain rights specified in the Cayman Companies Act. These rights of a dissenting shareholder are not available in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date and in respect of which the consideration for such shares to be contributed are shares of the surviving or consolidated company.

Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, commonly referred to in the Cayman Islands as a "scheme of arrangement," which may be tantamount to a merger. Schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies.

In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved, (i) in relation to a compromise or arrangement between a company and its creditors or any class of them, a majority in number of such creditors or class of creditors with whom the arrangement is to be made and who must in addition represent 75% in value of such creditors or class of creditors, as the case may be, that are present and voting either in person or by proxy at a meeting summoned for that purpose; and (ii) in relation to a compromise or arrangement between a company and its shareholders or any class of them, shareholders who represent 75% in value of the company's shareholders or class of shareholders, as the case may be, that are present and voting either in person or by proxy at a meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court. While a dissenting shareholder would have the right to express to the Grand Court the view that the transaction should not be approved, the Grand Court can be expected to approve the arrangement if it satisfies itself that:

● we complied with the directions set down by the Grand Court;

● we are not proposing to act illegally or beyond the scope of our corporate authority, the meeting was properly held and the statutory provisions as to majority vote have been complied with;

● the shareholders (or creditors) have been fairly and adequately represented at the meeting in question;

● the arrangement is such that may be reasonably approved by an intelligent and honest member of that class acting in respect of his or her interest; and

● the arrangement is not one that would more properly be sanctioned under some other provision of the Cayman Companies Act or that would amount to a "fraud on the minority."

If a compromise or arrangement of a Cayman Islands company is approved by the members in the context of a members' scheme (as described above), and the Grand Court subsequently sanctions the scheme, a dissenting shareholder would have no rights comparable to the appraisal rights which it would have if the company in question were a Delaware corporation (being the right to receive payment in cash for the judicially determined value of its shares). This is because the scheme will be binding on all members (or class of members), regardless of whether all the members (or class of members) approved the scheme, upon the sanction order being made. Having said that, a dissenting shareholder would have the right to appeal the making of the sanction order to the Cayman Islands Court of Appeal, if there were grounds for doing so.

***Squeeze-out Provisions***. When a takeover offer is made and approved (accepted) by holders of 90% in value of the shares for which the offer has been made, the offeror may, within a two-month period after that approval, by notice in writing require the holders of the remaining shares to transfer such shares on the terms of the offer. An objection can be made to the Grand Court within one month of the notice from the offeror, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.

Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business.

 ****

***Shareholders' Suits***. Mourant Ozannes (Cayman) LLP, our Cayman Islands legal counsel, is not aware of any reported class action having been brought in a Cayman Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability of such actions. In most cases, we (acting through our board of directors) will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a shareholder.

However, in certain circumstances (including where the alleged wrongdoer is in control of the company and perpetrating a "fraud on the minority"), shareholders in Cayman Islands companies may cause proceedings to be brought derivatively for and on behalf of the company against third parties, including the company's directors. A shareholder may also (subject to meeting the relevant requirements in the Cayman Companies Act) file winding up proceedings against our company on just and equitable grounds, based on similar factual circumstances. It is possible for the shareholder to seek alternative remedies to a winding up within the winding up petition, depending on the circumstances. Such alternative remedies include seeking a share buyout order from our company or seeking an order regulating the conduct of our company's affairs in the future.

***Enforcement of Civil Liabilities***. The Cayman Islands has a different body of securities laws as compared to the United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States.

We have been advised by Mourant Ozannes (Cayman) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature.

Mourant Ozannes (Cayman) LLP has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign money judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

***Indemnification of Directors and Executive Officers and Limitation of Liability***. Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, actual fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association will provide that our officers and directors will be indemnified by us to the fullest extent permitted by law, as it now exists or may in the future be amended, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect. This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation. In addition, we intend to enter into indemnification agreements with our directors and executive officers that will provide such persons with additional indemnification beyond that provided in our amended and restated memorandum and articles of association.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

At present, we are not aware of any pending or threatened litigation or proceeding involving any of our directors, officers, employees or agents in which indemnification would be required or permitted.

***Anti-Takeover Provisions in our Amended and Restated Memorandum and Articles of Association***. Some provisions of our amended and restated memorandum and articles of association may discourage, delay or prevent a change of control of our company or management that shareholders may consider favorable, including provisions that: (i) classify our board of directors into three classes; (ii) authorize our board of directors to issue preferred and other shares without any further vote or action by our shareholders, as outlined above; and (iii) provide that shareholders do not have the power to requisition and convene general meetings of shareholders.

However, under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our amended and restated memorandum and articles of association for a proper purpose and in what they believe in good faith to be in the best interests of our company.

***Directors' Fiduciary Duties***. Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director act in a manner he or she reasonably believes to be in the best interests of the corporation. He or she must not use his or her corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by a director, a director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation.

Under Cayman Islands law, our directors owe fiduciary duties to our company, including:

● a duty to act in good faith in what the director believes to be in the best interests of our company as a whole;

● a duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;

● a duty to not improperly fetter the exercise of future discretion;

● a duty to exercise authority for the purpose for which it is conferred and a duty to exercise powers fairly as between different sections of shareholders;

● a duty not to put themselves in a position in which there is a conflict between their duty to our company and their personal interests; and

● a duty to exercise independent judgment.

In addition to the above, our directors owe our company a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge, skill and experience of that director.

***Shareholder Action by Written Consent***. Under the Delaware General Corporation Law, a corporation may eliminate the right of shareholders to act by written consent by amendment to its certificate of incorporation. Our amended and restated memorandum and articles of association provide that shareholders may not approve corporate matters by way of a unanimous written resolution signed by or on behalf of each shareholder who would have been entitled to vote on such matter at a general meeting without a meeting being held. Accordingly, subsequent to the consummation of the offering, any action required or permitted to be taken by our shareholders may be effected only by resolutions passed at a duly called annual general meeting or extraordinary general meeting.

 ****

***Shareholder Proposals***. Under the Delaware General Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions in the governing documents. The Delaware General Corporation Law does not provide shareholders an express right to put any proposal before the annual meeting of shareholders, but in keeping with common law, Delaware corporations generally afford shareholders an opportunity to make proposals and nominations provided that they comply with the notice provisions in the certificate of incorporation or bylaws. A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings.

Cayman Islands law provides shareholders with only limited rights to requisition a general meeting, and does not provide shareholders with any right to table resolutions at a general meeting. Although these rights may be provided in a company's articles of association, our amended and restated articles of association do not include these rights. As an exempted Cayman Islands company, we are not obliged by law to call shareholders' annual general meetings.

 ****

***Cumulative Voting***. Under the Delaware General Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation's certificate of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder's voting power with respect to electing such director. As permitted under Cayman Islands law, our articles of association do not provide for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

 ****

***Removal of Directors***. Under the Delaware General Corporation Law, a director of a corporation with a classified board may be removed only for cause with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our articles of association, directors may be removed by an ordinary resolution of shareholders.

***Transactions with Interested Shareholders***. The Delaware General Corporation Law contains a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an "interested shareholder" for three years following the date that such person becomes an interested shareholder. An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target's outstanding voting stock within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested shareholder, the board of directors approves either the business combination or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition transaction with the target's board of directors.

Cayman Islands law has no comparable statute. As a result, we cannot avail ourselves of the types of protections afforded by the Delaware business combination statute. However, although Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that such transactions must be entered into *bona fide* in the best interests of the company and for a proper corporate purpose and not with the effect of constituting a fraud on the minority shareholders.

 ****

***Dissolution; Winding Up***. Under the Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation's outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.

Under Cayman Islands law, a company may be wound up either voluntarily or compulsorily. A company may be wound up by the Grand Court for a number of reasons, including: (i) the company has passed a special resolution requiring the company to be wound up by the Grand Court; (ii) the company is unable to pay its debts; and (iii) the Grand Court is of opinion that it is just and equitable that the company should be wound up. A solvent company may also be voluntarily wound up, without the involvement of the Grand Court, for a number of reasons, including if the shareholders resolve to do so by special resolution. If a solvent voluntary winding up is commenced but a declaration of solvency in the required form is not signed and filed within the required period, the liquidator must apply for the liquidation to continue under the supervision of the Grand Court.

 ****

***Variation of Rights of Shares***. Under the Delaware General Corporation Law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation provides otherwise. Under our amended and restated memorandum and articles of association, the rights attached to any such class of shares may, subject to any rights or restrictions for the time being attached to any class, be varied or abrogated (i) without the consent in writing of the holders of the issued shares of that class where such variation is considered by our board of directors not to have a material adverse effect upon such rights, or (ii) otherwise, only with the consent in writing of the holders of at least two-thirds of the issued shares of that class or with the approval of a resolution passed by a majority of at least two-thirds of the votes cast at a separate meeting of the holders of the shares of that class. The rights conferred upon the holders of the shares of any class or series shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied or abrogated by the creation or issue of further shares ranking in priority to, pari passu with or subsequent to such existing class of shares, the creation or issue of shares having preferred or other rights, any variation of the rights conferred upon the holders of shares of any other class, or the redemption or purchase of any shares of any class by our company.

 ****

***Amendment of Governing Documents***. Under the Delaware General Corporation Law, a corporation's governing documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. As permitted by Cayman Islands law, our amended and restated memorandum and articles of association may only be amended (i) with respect to certain alterations of share capital, by an ordinary resolution of shareholders, and (ii) otherwise by a special resolution of shareholders.

***Rights of Non-Resident or Foreign Shareholders***. There are no limitations imposed by our amended and restated memorandum and articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition, there are no provisions in our amended and restated memorandum and articles of association governing the ownership threshold above which shareholder ownership must be publicly disclosed. However, no offer or invitation, whether directly or indirectly, is being or may be made to the public in the Cayman Islands (within the meaning of the Cayman Companies Act) to subscribe for any of our securities.

 ****

***Directors' Power to Issue Shares***. Subject to applicable law and our amended and restated memorandum and articles of association, our board of directors is empowered to allot, issue, grant options over or otherwise dispose of our authorized shares from time to time, with or without preferred, deferred or other rights or restrictions. See "*Description of Share Capital—Our Post Offering Amended and Restated Memorandum and Articles of Association—Issuance of Additional Shares*."

**History of Securities Issuances**

In the past three years, we have issued the following securities.

On December 3, 2025, we issued one Class B Ordinary Share to Mourant Nominees (Cayman) Limited for total consideration of $0.0001, in connection with the incorporation of Ticketplus Ltd. On December 15, 2025, this share was repurchased by the Company and cancelled.

On December 15, 2025, we entered into a contribution agreement with Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, the shareholders of Ticketplus Group SpA, pursuant to which the shareholders contributed all issued and outstanding ordinary shares of Ticketplus Group SpA to Ticketplus Ltd. in consideration for the allotment and issuance by Ticketplus Ltd. of an aggregate of 10,000,000 Class B Ordinary Shares and 189,525 Class A Ordinary Shares. As a result, Ticketplus Group SpA became our wholly-owned subsidiary.

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

**Listing**

We plan to apply to list our Ordinary Shares on Nasdaq under the symbol "TP". The closing of this offering is contingent upon such listing.

**Transfer Agent and Registrar**

The transfer agent and registrar for our Ordinary Shares in the United States is Transfer Online, Inc. The address for Transfer Online, Inc. is 512 SE Salmon St., Portland, OR 97214, and the telephone number is (503) 227-2950.

**SHARES ELIGIBLE FOR FUTURE SALE**

Before this offering, there has not been a public market for our Ordinary Shares. Future sales of substantial amounts of Ordinary Shares, including shares issued upon the conversion of convertible notes, the exercise of outstanding options and warrants, in the public market after this offering, or the possibility of these sales occurring, could cause the prevailing market price for our Ordinary Shares to fall or impair our ability to raise equity capital in the future.

Immediately following the closing of this offering, we will have [ ] Ordinary Shares issued and outstanding, based on an assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus. In the event the underwriters exercise the over-allotment option in full, we will have [ ] Ordinary Shares issued and outstanding. The Ordinary Shares sold in this offering will be freely tradable without restriction or further registration or qualification under the Securities Act.

Previously issued Ordinary Shares that were not offered and sold in this offering, as well as shares issuable upon the exercise of warrants and subject to employee stock options, are or will be upon issuance, "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if such public resale is registered under the Securities Act or if the resale qualifies for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which are summarized below.

**Rule 144**

In general, a person who has beneficially owned restricted Ordinary Shares for at least twelve months, or at least six months in the event we have been a reporting company under the Exchange Act for at least ninety (90) days before the sale, would be entitled to sell such securities, provided that such person is not deemed to be an affiliate of ours at the time of sale or to have been an affiliate of ours at any time during the ninety (90) days preceding the sale. A person who is an affiliate of ours at such time would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of shares that does not exceed the greater of the following:

● 1% of the number of Ordinary Shares then outstanding; or

● 1% of the average weekly trading volume of our Ordinary Shares during the four calendar weeks preceding the filing by such person of a notice on Form 144 with respect to the sale;

provided that, in each case, we are subject to the periodic reporting requirements of the Exchange Act for at least 90 days before the sale. Rule 144 trades must also comply with the manner of sale, notice and other provisions of Rule 144, to the extent applicable.

**Rule 701**

In general, Rule 701 allows a shareholder who purchased shares pursuant to a written compensatory plan or contract and who is not deemed to have been an affiliate of ours during the immediately preceding 90 days to sell those shares in reliance upon Rule 144, but without being required to comply with the public information, holding period, volume limitation or notice provisions of Rule 144. All holders of Rule 701 shares, however, are required to wait until ninety (90) days after the date of this prospectus before selling shares pursuant to Rule 701.

**Lock-Up Agreements**

We, all of our directors and officers, and holders of 5% or more of our outstanding Ordinary Shares have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any of our Ordinary Shares or securities convertible into or exercisable or exchangeable for our Ordinary Shares for a period of 180 days from the date on which the trading of our Ordinary Shares commences. See "*Underwriting—Lock-Up Agreements*."

**MATERIAL INCOME TAX CONSIDERATIONS**

 

*The following summary contains a description of material Cayman Islands and U.S. federal tax consequences of the acquisition, ownership and disposition of our Ordinary Shares. This summary should not be considered a comprehensive description of all the tax considerations that may be relevant to the decision to acquire Ordinary Shares in this offering. Potential investors should consult their tax advisers regarding the U.S. federal, state, local and non-U.S. tax consequences of owning and disposing of our Ordinary Shares in their particular circumstances.*

 

**Cayman Islands Taxation**

The following discussion is a general summary of present law, which is subject to prospective and retroactive change. It is not intended as tax advice, does not consider any investor's particular circumstances, and does not consider tax consequences other than those arising under Cayman Islands law.

The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains, or appreciation and there is no taxation in the nature of inheritance tax, gift tax or estate duty. There are no other taxes likely to be material to us levied by the Government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in, or, after execution, brought within the jurisdiction of the Cayman Islands.

No stamp duty is payable in the Cayman Islands on the issue of shares by, or any transfers of shares of, Cayman Islands companies (except those which hold interests in land in the Cayman Islands). There are no exchange control regulations or currency restrictions in the Cayman Islands.

Payments of dividends and capital in respect of our securities will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or capital to any holder of the securities nor will gains derived from the disposal of the securities be subject to Cayman Islands income or corporate tax.

No stamp duty is payable in respect of the issue of our Ordinary Shares. An instrument of transfer in respect of an Ordinary Share may be stampable if executed in, or, after execution, brought within the jurisdiction of the Cayman Islands.

We have been incorporated under the laws of the Cayman Islands as an exempted company with limited liability and, as such, have applied for and received an undertaking from the Financial Secretary of the Cayman Islands in substantially the following form:

**"The Tax Concessions Act**

**(as amended)**

**Undertaking as to Tax Concessions**

In accordance with the Tax Concessions Act (as amended), the following undertaking is hereby given to Ticketplus Ltd. (the "Company"):

&nbsp;&nbsp;&nbsp;&nbsp;1. That no law which is hereafter enacted
 in the Islands imposing any tax to be levied on profits, income, gains or appreciations shall
 apply to the Company or its operations; and

&nbsp;&nbsp;&nbsp;&nbsp;2. In addition, that no tax to be levied
 on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance
 tax shall be payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 on or in respect
 of the shares, debentures or other obligations of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 by way of the withholding in whole
 or part, of any relevant payment as defined in the Tax Concessions Act (as amended).

These concessions shall be for a period of 30 years from the 11th day of December 2025."

**U.S. Federal Income Taxation Considerations**

The following discussion describes the material U.S. federal income tax consequences relating to the ownership and disposition of our Ordinary Shares by U.S. Holders (as defined below). This discussion applies to U.S. Holders that purchase our Ordinary Shares pursuant to this prospectus and hold such Ordinary Shares as capital assets. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended, or the Code, U.S. Treasury regulations promulgated thereunder and administrative and judicial interpretations thereof, all as in effect on the date hereof and all of which are subject to change, possibly with retroactive effect. This discussion does not address all of the U.S. federal income tax consequences that may be relevant to specific U.S. Holders in light of their particular circumstances or to U.S. Holders subject to special treatment under U.S. federal income tax law (such as certain financial institutions, insurance companies, currency or securities dealers, traders in securities or other persons that generally mark their securities to market for U.S. federal income tax purposes, tax-exempt entities, retirement plans, regulated investment companies, real estate investment trusts, certain former citizens or residents of the United States, persons who hold our Ordinary Shares as part of a "straddle," "hedge," "conversion transaction," "synthetic security" or integrated investment, persons that have a "functional currency" other than the U.S. dollar, persons that own directly, indirectly or through attribution 10% or more of the voting power of our shares, corporations that accumulate earnings to avoid U.S. federal income tax, persons subject to special tax accounting rules under Section 451(b) of the Code, partnerships and other pass-through entities, and investors in such pass-through entities). This discussion does not address any U.S. state or local or non-U.S. tax consequences or any U.S. federal estate, gift or alternative minimum tax consequences.

As used in this discussion, the term "U.S. Holder" means a beneficial owner of our Ordinary Shares that is, for U.S. federal income tax purposes, (i) an individual who is a citizen or resident of the United States, (ii) a corporation (or entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof, or the District of Columbia, (iii) an estate the income of which is subject to U.S. federal income tax regardless of its source or (iv) a trust (x) with respect to which a court within the United States is able to exercise primary supervision over its administration and one or more United States persons have the authority to control all of its substantial decisions or (y) that has elected under applicable U.S. Treasury regulations to be treated as a domestic trust for U.S. federal income tax purposes.

If an entity treated as a partnership for U.S. federal income tax purposes holds our Ordinary Shares, the U.S. federal income tax consequences relating to an investment in our Ordinary Shares will depend in part upon the status and activities of such entity and the particular partner. Any such entity should consult its own tax advisor regarding the U.S. federal income tax consequences applicable to it and its partners of the purchase, ownership and disposition of our Ordinary Shares. Persons considering an investment in our Ordinary Shares should consult their own tax advisors as to the particular tax consequences applicable to them relating to the purchase, ownership and disposition of our Ordinary Shares, including the applicability of U.S. federal, state and local tax laws and non-U.S. tax laws.

***Passive Foreign Investment Company Consequences***

In general, a corporation organized outside the United States will be treated as a passive foreign investment company, or PFIC, for any taxable year in which either (1) at least 75% of its gross income is "passive income" or (2) on average at least 50% of its assets, determined on a quarterly basis, are assets that produce passive income or are held for the production of passive income. Passive income for this purpose generally includes, among other things, dividends, interest, royalties, rents, and gains from the sale or exchange of property that gives rise to passive income. Assets that produce or are held for the production of passive income generally include cash, even if held as working capital or raised in a public offering, marketable securities, and other assets that may produce passive income. Generally, in determining whether a non-U.S. corporation is a PFIC, a proportionate share of the income and assets of each corporation in which it owns, directly or indirectly, at least a 25% interest (by value) is taken into account.

Because PFIC status is determined on an annual basis and generally cannot be determined until the end of the taxable year, there can be no assurance that we will not be a PFIC for the current taxable year, ending December 31, 2026. Because we may continue to hold a substantial amount of cash and cash equivalents, and because the calculation of the value of our assets may be based in part on the value of our Ordinary Shares, which may fluctuate considerably, we may be a PFIC in future taxable years. Even if we determine that we are not a PFIC for a taxable year, there can be no assurance that the IRS will agree with our conclusion and that the IRS would not successfully challenge our position. Our status as a PFIC is a fact-intensive determination made on an annual basis.

If we are a PFIC in any taxable year during which a U.S. Holder owns our Ordinary Shares, the U.S. Holder could be liable for additional taxes and interest charges under the "PFIC excess distribution regime" upon (1) a distribution paid during a taxable year that is greater than 125% of the average annual distributions paid in the three preceding taxable years, or, if shorter, the U.S. Holder's holding period for our Ordinary Shares, and (2) any gain recognized on a sale, exchange or other disposition, including a pledge, of our Ordinary Shares, whether or not we continue to be a PFIC. Under the PFIC excess distribution regime, the tax on such distribution or gain would be determined by allocating the distribution or gain ratably over the U.S. Holder's holding period for our Ordinary Shares. The amount allocated to the current taxable year (i.e., the year in which the distribution occurs or the gain is recognized) and any year prior to the first taxable year in which we are a PFIC will be taxed as ordinary income earned in the current taxable year. The amount allocated to other taxable years will be taxed at the highest marginal rates in effect for individuals or corporations, as applicable, to ordinary income for each such taxable year, and an interest charge, generally applicable to underpayments of tax, will be added to the tax.

If we are a PFIC for any year during which a U.S. Holder holds our Ordinary Shares, that U.S. Holder must generally continue to treat us as a PFIC for all succeeding years during which the U.S. Holder holds our Ordinary Shares, unless we cease to meet the requirements for PFIC status and the U.S. Holder makes a "deemed sale" election with respect to our Ordinary Shares. If the election is made, the U.S. Holder will be deemed to sell our Ordinary Shares it holds at their fair market value on the last day of the last taxable year in which we qualified as a PFIC, and any gain recognized from such deemed sale would be taxed under the PFIC excess distribution regime. After the deemed sale election, the U.S. Holder's Ordinary Shares would not be treated as shares of a PFIC unless we subsequently again become a PFIC.

If we are a PFIC for any taxable year during which a U.S. Holder holds our Ordinary Shares and one of our non-U.S. corporate subsidiaries is also a PFIC (i.e., a lower-tier PFIC), such U.S. Holder would be treated as owning a proportionate amount (by value) of the shares of the lower-tier PFIC and would be taxed under the PFIC excess distribution regime on distributions by the lower-tier PFIC and on gain from the disposition of shares of the lower-tier PFIC even though such U.S. Holder would not receive the proceeds of those distributions or dispositions. U.S. Holders are advised to consult their tax advisors regarding the application of the PFIC rules to our non-U.S. subsidiaries.

If we are a PFIC, a U.S. Holder will not be subject to tax under the PFIC excess distribution regime on distributions or gain recognized on our Ordinary Shares if such U.S. Holder makes a valid "mark-to-market" election for our Ordinary Shares. A mark-to-market election is available to a U.S. Holder only for "marketable stock".

Our Ordinary Shares will be marketable stock so long as they remain listed on Nasdaq and are regularly traded, other than in *de minimis* quantities, on at least 15 days during each calendar quarter. If a mark-to-market election is in effect, a U.S. Holder generally would take into account, as ordinary income each year, the excess of the fair market value of our Ordinary Shares held at the end of such taxable year over the adjusted tax basis of such Ordinary Shares. The U.S. Holder would also take into account, as an ordinary loss each year, the excess of the adjusted tax basis of such our Ordinary Shares over their fair market value at the end of the taxable year, but only to the extent of the excess of amounts previously included in income over ordinary losses deducted as a result of the mark-to-market election. The U.S. Holder's tax basis in our Ordinary Shares would be adjusted to reflect any income or loss recognized as a result of the mark-to-market election. Any gain from a sale, exchange or other disposition of our Ordinary Shares in any taxable year in which we are a PFIC would be treated as ordinary income and any loss from such sale, exchange or other disposition would be treated first as ordinary loss (to the extent of any net mark-to-market gains previously included in income) and thereafter as capital loss.

A mark-to-market election will not apply to our Ordinary Shares for any taxable year during which we are not a PFIC, but it will remain in effect with respect to any subsequent taxable year in which we become a PFIC. Such an election will not apply to any non-U.S. subsidiaries that we may organize or acquire in the future. Accordingly, a U.S. Holder may continue to be subject to tax under the PFIC excess distribution regime with respect to any lower-tier PFICs that we may organize or acquire in the future notwithstanding the U.S. Holder's mark-to-market election for our Ordinary Shares.

The tax consequences that would apply if we are or become a PFIC would also be different from those described above if a U.S. Holder were able to make a valid qualified electing fund, or QEF, election. At this time, we do not expect to provide U.S. Holders with the information necessary for a U.S. Holder to make a QEF election. Consequently, prospective investors should assume that a QEF election will not be available.

U.S. persons who are investors in a PFIC are generally required to file an annual information return on IRS Form 8621 containing such information as the U.S. Treasury Department may require. The failure to file IRS Form 8621 could result in the imposition of penalties and the extension of the statute of limitations with respect to U.S. federal income tax.

**The U.S. federal income tax rules relating to PFICs are very complex. Prospective U.S. investors are strongly urged to consult their own tax advisors with respect to the impact of PFIC status on the purchase, ownership and disposition of our Ordinary Shares, the consequences to them of an investment in a PFIC, any elections available with respect to our Ordinary Shares and the IRS information reporting obligations with respect to the purchase, ownership and disposition of the Ordinary Shares of a PFIC.**

***Distributions***

Subject to the discussion above under "*— Passive Foreign Investment Company Consequences*", a U.S. Holder that receives a distribution with respect to our Ordinary Shares generally will be required to include the gross amount of such distribution in gross income as a dividend when actually or constructively received to the extent of the U.S. Holder's pro rata share of our current and/or accumulated earnings and profits (as determined under U.S. federal income tax principles). To the extent a distribution received by a U.S. Holder is not a dividend because it exceeds the U.S. Holder's pro rata share of our current and accumulated earnings and profits, it will be treated first as a tax-free return of capital and reduce (but not below zero) the adjusted tax basis of the U.S. Holder's Ordinary Shares. To the extent the non-dividend portion of the distribution exceeds the adjusted tax basis of the U.S. Holder's Ordinary Shares, the remainder will be taxed as capital gain. Because we may not account for our earnings and profits in accordance with U.S. federal income tax principles, U.S. Holders should expect all distributions to be reported to them as dividends. Distributions on our Ordinary Shares that are treated as dividends generally will constitute income from sources outside the United States for foreign tax credit purposes and generally will constitute passive category income. Such dividends will not be eligible for the "dividends received" deduction generally allowed to corporate shareholders with respect to dividends received from U.S. corporations.

Dividends paid by a "qualified foreign corporation" are eligible for taxation for certain non-corporate U.S. Holders at a reduced capital gains rate rather than the marginal tax rates generally applicable to ordinary income provided that certain requirements are met. However, if we are a PFIC for the taxable year in which the dividend is paid or the preceding taxable year (see discussion above under "*— Passive Foreign Investment Company Consequences*"), we will not be treated as a qualified foreign corporation, and therefore the reduced capital gains tax rate described above will not apply. Each U.S. Holder is advised to consult its tax advisors regarding the availability of the reduced tax rate on dividends with regard to its particular circumstances.

A non-U.S. corporation (other than a corporation that is classified as a PFIC for the taxable year in which the dividend is paid or the preceding taxable year) generally will be considered to be a qualified foreign corporation (a) if it is eligible for the benefits of a comprehensive tax treaty with the United States which the U.S. Secretary of the Treasury determines is satisfactory for purposes of this provision and which includes an exchange of information provision, or (b) with respect to any dividend it pays on Ordinary Shares that are readily tradable on an established securities market in the United States. No treaty exists between the United States and Cayman Islands that satisfies condition (a). However, subject to the discussion above under "*— Passive Foreign Investment Company Consequences,*" we believe that so long as our Ordinary Shares are readily tradable on Nasdaq, which is an established market in the United States, we will be a qualified foreign corporation and any dividends that we pay will be "qualified dividend income" in the hands of individual U.S. Holders, provided that certain conditions are met, including holding period and the absence of certain risk reduction transactions.

***Sale, Exchange or Other Disposition of Our Ordinary Shares***

Subject to the discussion above under "*— Passive Foreign Investment Company Consequences*", a U.S. Holder generally will recognize capital gain or loss for U.S. federal income tax purposes upon the sale, exchange or other taxable disposition of our Ordinary Shares in an amount equal to the difference, if any, between the amount realized (i.e., the amount of cash plus the fair market value of any property received) on the sale, exchange or other taxable disposition and such U.S. Holder's adjusted tax basis in our Ordinary Shares. Such capital gain or loss generally will be long-term capital gain taxable at a reduced rate for noncorporate U.S. Holders or long-term capital loss if, on the date of sale, exchange or other taxable disposition, our Ordinary Shares were held by the U.S. Holder for more than one year. Any capital gain of a non-corporate U.S. Holder that is not long-term capital gain is taxed at ordinary income rates. The deductibility of capital losses is subject to limitations. Any gain or loss recognized from the sale or other disposition of our Ordinary Shares will generally be treated as gain or loss from sources within the United States for U.S. foreign tax credit purposes.

***Medicare Tax***

Certain U.S. Holders that are individuals, estates or trusts and whose income exceeds certain thresholds generally are subject to a 3.8% tax on all or a portion of their net investment income, which may include their gross dividend income and net gains from the disposition of our Ordinary Shares. If you are a United States person that is an individual, estate or trust, you are encouraged to consult your tax advisors regarding the applicability of this Medicare tax to your income and gains in respect of your investment in our Ordinary Shares.

***Information Reporting***

U.S. Holders may be required to file certain U.S. information reporting returns with the IRS with respect to an investment in our Ordinary Shares, including, among others, IRS Form 8938, *Statement of Specified Foreign Financial Assets*. As described above under "*— Passive Foreign Investment Company Consequences,*" each U.S. Holder who is a shareholder of a PFIC must file an annual report containing certain information. U.S. Holders paying more than $100,000 to acquire our Ordinary Shares are required to file IRS Form 926, *Return by a U.S. Transferor of Property to a Foreign Corporation*, reporting this payment. Substantial penalties may be imposed upon a U.S. Holder that fails to comply with the required information reporting.

U.S. Holders should consult their own tax advisors regarding the information reporting rules.

**ALL PROSPECTIVE INVESTORS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS ABOUT THE TAX CONSEQUENCES TO THEM OF AN INVESTMENT IN OUR ORDINARY SHARES IN LIGHT OF THE INVESTOR'S OWN CIRCUMSTANCES.**

**ENFORCEABILITY OF CIVIL LIABILITIES**

We are incorporated under the laws of the Cayman Islands as an exempted company with limited liability. We are incorporated in the Cayman Islands because of certain benefits associated with being a Cayman Islands company, such as political and economic stability, an effective judicial system, a favorable tax system, the absence of foreign exchange control or currency restrictions and the availability of professional and support services. However, the Cayman Islands has a less developed body of securities laws as compared to the United States and provides less protection for investors. In addition, Cayman Islands companies may not have standing to sue before the federal courts of the United States.

Our amended and restated memorandum and articles of association do not contain provisions requiring that disputes, including those arising under the securities laws of the United States, between us, our officers, directors and shareholders, be subject to arbitration.

Substantially all of our assets are located outside the United States. In addition, all of our directors and all of our executive officers are nationals or residents of jurisdictions other than the United States and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or these persons, or to enforce judgments obtained in U.S. courts against us or them, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States. It may also be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against us and our officers and directors.

We have been advised by Mourant Ozannes (Cayman) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature.

Mourant Ozannes (Cayman) LLP has informed us that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign money judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

Our agent for service of process in the United States is Cogency Global Inc.,122 East 42nd Street, 18th Floor, New York, NY 10168, (800) 221-0102.

**UNDERWRITING**

In connection with this offering, we will enter an underwriting agreement with Bancroft Capital, LLC, Roth Capital Partners, LLC and MDB Capital, the operating name for Public Ventures, LLC (who we refer to each as a representative, and together, the representatives) as the representatives of the underwriters named in this prospectus. Under the terms and subject to the conditions contained in the underwriting agreement, the representatives will agree to purchase severally and not jointly from us on a firm commitment basis the respective number of Ordinary Shares at the public price less the underwriting discounts set forth on the cover page of this prospectus, and each of the underwriters has severally and not jointly agreed to purchase, and we have agreed to sell to the underwriters, at the public offering price per shares less the underwriting discounts set forth on the cover page of this prospectus, the number of Ordinary Shares listed next to its name in the following table:

---

| | |
|:---|:---|
| **Underwriter** | **Number of<br> Ordinary<br> Shares** |
| Total |  |

---

If the underwriters sell more Ordinary Shares than the total number set forth in the table above, we have granted to the representatives an option, exercisable for 45 days from the date of this prospectus, to purchase up to [ ] additional Ordinary Shares at the public offering price less the underwriting discount, constituting 15% of the total number of Ordinary Shares to be offered in this offering (excluding shares subject to this option). The representatives may exercise this option solely for the purpose of covering over-allotments in connection with this offering. This offering is being conducted on a firm commitment basis. Any Ordinary Shares issued or sold under the option will be issued and sold on the same terms and conditions as the other Ordinary Shares that are the subject of this offering.

**Discounts and Expenses**

The following table shows the underwriting discounts payable to the underwriters by us in connection with this offering (assuming both the exercise and non-exercise of the over-allotment option that we have granted to the representatives), based on the assumed initial public offering price of $[ ] per share, which is the low point of the estimated range of the initial public offering price shown on the cover page of this prospectus:

---

| | | | |
|:---|:---|:---|:---|
|  | **Per<br> Share** | **Total <br> Without<br> Over-<br> Allotment<br> Option** | **Total <br> With<br> Entire<br> Over-<br> Allotment<br> Option** |
| Public offering price | $| $| $|
| Underwriting discounts and commissions (7%) | $| $| $|
| Non-accountable expense allowance (1%) | $| $| $|
| Proceeds, before expenses, to us | $| $| $|

---

We have agreed to pay a non-accountable expense allowance to the representatives equal to one percent (1%) of the gross proceeds received at the closing of the offering.

We have agreed to pay the representatives the reasonable out-of-pocket expenses incurred by the representatives in connection with this offering up to $225,000. The representatives' reimbursable out-of-pocket expenses include but are not limited to: (i) fees of representatives' legal counsel, (ii) due diligence and other expenses incurred prior to completion of this offering, and (iii) road show, travel, platform on-boarding fees, and other reasonable out-of-pocket accountable expenses. We have also agreed to reimburse the out-of-pocket expenses of the escrow agent or clearing agent, as applicable, which closing costs shall not exceed $14,900. Such escrow agent or clearing agent will be responsible for holding investor funds in escrow and/or facilitating the clearance and settlement of the offering proceeds. As of the date of this prospectus, we have paid the representatives an advance of $65,000 for their anticipated out-of-pocket costs. The advance payment will be returned to us to the extent such out-of-pocket expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).

**Lock-Up Agreements**

Our officers, directors and principal shareholders (5% or more shareholders) have agreed to a 180-day "lock-up" period from the date of this prospectus with respect to the Ordinary Shares that they beneficially own, including the issuance of shares upon the exercise of convertible securities and options that are currently outstanding or which may be issued. This means that, for a period of 180 days following the date of this prospectus, such persons may not offer, sell, pledge or otherwise dispose of these securities without the prior written consent of the representatives. We have also agreed, in the underwriting agreement, to similar restrictions on the issuance and sale of our securities for 180 days following the date of this prospectus, subject to certain customary exceptions, without the prior written consent of the representatives.

The representatives have advised us that they have no present intention to waive or shorten the lock-up period; however, the terms of the lock-up agreements may be waived at their discretion. In determining whether to waive the terms of the lock-up agreements, the representatives may base their decision on their assessment of the relative strengths of the securities markets and companies similar to ours in general, and the trading pattern of, and demand for, our securities in general.

**Tail Financing**

We have agreed that the representatives shall be entitled receive transaction fees equal to seven percent (7%) of the gross proceeds received by us from any financing or capital-raising transaction of any kind, or a Tail Financing, to the extent that such financing or capital is provided to us by investors whom the representatives have contacted or introduced to us during the term of their engagement, if such Tail Financing is consummated at any time within the 12-month period following the expiration or termination such engagement. However, pursuant to FINRA Rule 5110(g)(5), we have the right to terminate the representatives' engagement for "cause," which means the representatives' material failure to provide the underwriting services, and any such termination for cause will eliminate our obligation to pay a transaction fee associated with a Tail Financing.

**Right of First Refusal**

We have agreed to provide the representatives the right of first refusal for 12 months following the consummation of this offering to act as sole book-running managers, sole underwriters or sole placement agents on any public offering or private placement or any other capital-raising financing of equity, equity-linked or debt securities that uses an underwriter or placement agent. Such right of first refusal may be terminated by us for "cause," which means a material breach by the representatives of the underwriting agreement or a material failure by the representatives to provide the services as contemplated by the underwriting agreement.

This right shall not apply to (i) transactions with strategic partners, or (ii) a customary commercial loan from a bank or financial institution, which may include the granting of warrants or Ordinary Shares as an equity kicker, and (iii) transactions in which we do not engage a broker or other intermediary.

**Electronic Distribution**

A prospectus in electronic format may be made available on websites or through other online services maintained by the representatives or by their affiliates. Other than the prospectus in electronic format, the information on the representatives' website and any information contained in any other website maintained by them are not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the representatives in their capacity as an underwriters, and should not be relied upon by investors.

Any underwriter who is a qualified market maker on Nasdaq may engage in passive market making transactions on Nasdaq in accordance with Rule 103 of Regulation M, during the business day prior to the pricing of the offering, before the commencement of offers or sales. Passive market makers must comply with applicable volume and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker's bid, however, the passive market maker's bid must then be lowered when certain purchase limits are exceeded.

**No Prior Public Market**

Prior to this offering, there has been no public market for our securities and the public offering price for our Ordinary Shares will be determined through negotiations between us and the representatives. Among the factors to be considered in these negotiations will be prevailing market conditions, our financial information, market valuations of other companies that we and the representatives believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant. The offering price for our Ordinary Shares in this offering has been arbitrarily determined by the Company in its negotiations with the underwriter and does not necessarily bear any direct relationship to the assets, operations, book or other established criteria of value of the Company.

**Price Stabilization, Short Positions and Penalty Bids**

Until the distribution of the Ordinary Shares offered by this prospectus is completed, rules of the SEC may limit the ability of the underwriter to bid for and to purchase our Ordinary Shares. As an exception to these rules, the underwriters may engage in transactions effected in accordance with Regulation M under the Exchange Act that are intended to stabilize, maintain or otherwise affect the price of our Ordinary Shares. The underwriters may engage in over-allotment sales, syndicate covering transactions, stabilizing transactions and penalty bids in accordance with Regulation M.

● Stabilizing transactions consist of bids or purchases made by the managing underwriter for the purpose of preventing or slowing a decline in the market price of our securities while this offering is in progress.

● Short sales and over-allotments occur when the managing underwriter, on behalf of the underwriting syndicate, sells more of our Ordinary Shares than they purchase from us in this offering. In order to cover the resulting short position, the managing underwriter may engage in syndicate covering transactions. There is no contractual limit on the size of any syndicate covering transaction. The underwriters will deliver a prospectus in connection with any such short sales. Purchasers of Ordinary Shares sold short by the underwriters are entitled to the same remedies under the federal securities laws as any other purchaser of units covered by the registration statement.

● Syndicate covering transactions are bids for or purchases of our securities on the open market by the managing underwriter on behalf of the underwriters in order to reduce a short position incurred by the managing underwriter on behalf of the underwriters.

● A penalty bid is an arrangement permitting the managing underwriter to reclaim the selling concession that would otherwise accrue to an underwriter if the Ordinary Shares originally sold by the underwriter were later repurchased by the managing underwriter and therefore was not effectively sold to the public by such underwriter.

Stabilization, syndicate covering transactions and penalty bids may have the effect of raising or maintaining the market price of our Ordinary Shares or preventing or retarding a decline in the market price of our Ordinary Shares. As a result, the price of our Ordinary Shares may be higher than the price that might otherwise exist in the open market.

Neither we nor the underwriters make any representation or prediction as to the effect that the transactions described above may have on the prices of our Ordinary Shares. These transactions may occur on Nasdaq or another national securities exchange. If any of these transactions are commenced, they may be discontinued without notice at any time.

**Other Relationships**

The underwriters and certain of their affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. Some of the underwriters and certain of their affiliates may in the future engage in investment banking and other commercial dealings in the ordinary course of business with us and our affiliates, for which they may in the future receive customary fees, commissions and expenses. In addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities may involve securities and/or instruments of ours or our affiliates. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.

**Offer Restrictions Outside the United States**

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

**EXPENSES RELATED TO THIS OFFERING**

Set forth below is an itemization of our total expenses, excluding underwriting discounts and commissions, which are expected to be incurred in connection with the offer and sale of the Ordinary Shares by us. With the exception of the SEC registration fee, the FINRA filing fee and the Nasdaq listing fee, all amounts are estimates.

---

| | |
|:---|:---|
|  | **Amount** |
| SEC registration fee | $5558.53 |
| FINRA filing fee | \* |
| Nasdaq listing fee | \* |
| Accounting fees and expenses | \* |
| Legal fees and expenses | \* |
| Transfer agent fees and expenses | \* |
| Printing fees and expenses | \* |
| Miscellaneous | \* |
| TOTAL | $\* |

---

\* To be filed by amendment.

**LEGAL MATTERS**

Certain legal matters as to the United States federal and New York law in connection with this offering will be passed upon for us by Bevilacqua PLLC. Certain legal matters as to the United States federal and New York law in connection with this offering will be passed upon for the underwriters by Lucosky Brookman LLP. The validity of the Ordinary Shares offered in this offering and certain other legal matters as to Cayman Islands law will be passed upon for us by Mourant Ozannes (Cayman) LLP.

**EXPERTS**

Our consolidated financial statements for the year ended December 31, 2024 appearing elsewhere in this prospectus have been audited by CEYA Chile, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements are included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The offices of CEYA Chile are located at Blanco 1663, Oficina 1103, Edificio Mar del Sur, Torre 1, Valparaiso, Region de Valparaiso, Chile 2362696.

Our consolidated financial statements for the year ended December 31, 2025 appearing elsewhere in this prospectus have been audited by Baker Tilly Paraguay, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements are included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The offices of Baker Tilly Paraguay are located at Avenida Aviadores del Chaco N<sup>o</sup> 2050, World Trade Center, Torre 1, Piso 5, Asuncion, Paraguay.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the SEC a registration statement on Form F-1, including relevant exhibits and schedules, under the Securities Act with respect to the Ordinary Shares to be sold in this offering. This prospectus, which constitutes a part of the registration statement, does not contain all of the information contained in the registration statement. You should read the registration statement on Form F-1 and its exhibits and schedules for further information with respect to us and the Ordinary Shares.

Immediately upon completion of this offering, we will become subject to periodic reporting and other informational requirements of the Exchange Act as applicable to foreign private issuers. Accordingly, we will be required to file reports, including annual reports on Form 20-F, and other information with the SEC. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the website is www.sec.gov. Additionally, we will make these filings available, free of charge, on our website at www.ticketplus.com as soon as reasonably practicable after we electronically file such materials with, or furnish them to, the SEC. The information on our website, other than these filings, is not, and should not be, considered part of this prospectus and is not incorporated by reference into this document.

As a foreign private issuer, we will be exempt from the rules of the Exchange Act prescribing the furnishing and content of proxy statements to shareholders, and our principal shareholders are exempt from the reporting requirements and our executive officers, directors and principal shareholders are exempt from the short-swing profit recovery provisions contained in Section 16 of the Exchange Act. In addition, we will not be required under the Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act.

**FINANCIAL STATEMENTS**

**Index to Consolidated Financial Statements for Ticketplus Ltd.**

---

| | |
|:---|:---|
| **Consolidated Financial Statements for the Years Ended December 31, 2025 and 2024** | **Page** |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID Number: 7091)](#f_001) | F-2 |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID Number: 3060)](#f_002) | F-3 |
| Financial Statements: |  |
| &nbsp;&nbsp;&nbsp;[Consolidated Statements of Financial Position](#f_003) | F-4 |
| &nbsp;&nbsp;&nbsp;[Consolidated Statements of Profit or Loss](#f_004) | F-5 |
| &nbsp;&nbsp;&nbsp;[Consolidated Statements of Shareholders' Equity](#f_005) | F-6 |
| &nbsp;&nbsp;&nbsp;[Consolidated Statements of Cash Flows](#f_006) | F-7 |
| &nbsp;&nbsp;&nbsp;[Notes to Consolidated Financial Statements](#f_007) | F-8 |

---

![](ea029197701_img5.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the shareholders and board of directors of

Ticketplus Ltd. and Subsidiaries

**Opinion on the Financial Statements**

We have audited the accompanying balance sheets of Ticketplus Ltd. and its subsidiaries (the "Company") as of December 31, 2025, the related consolidated statements of profit or loss, shareholders' equity, and cash flows, for the year ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025, and the results of its operations and its cash flows for the year then ended, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.

The financial statements of the Company as of December 31, 2024, were audited by other auditors whose report dated January 7, 2026, except for Note 8, as to which the date is March 10, 2026, the Consolidated Statements of Profit or Loss, as to which the date is April 14, 2026, Note 14, as to which the date is April 30, 2026, and the Consolidated Statements of Financial Position, Note 2, Note 12, Note 14, Note 24 and Note 26, as to which the date is May 28, 2026, expressed an unqualified opinion on those statements.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's 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 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 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 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 financial statements. We believe that our audits provide a reasonable basis for our opinion.

**/s/ Baker Tilly Paraguay**

**Member of Baker Tilly International Ltd global network**

We have served as the Company's auditor since January 2026.

Asunción, Paraguay

March 20, 2026, except for the Statements of Financial Position, Profit or Loss, Shareholders' Equity and Cash Flows and Notes 15 and 20, as to which the date is April 9, 2026, Note 14, as to which the date is April 30, 2026, and the Statements of Financial Position, Note 2, Note 12, Note 14, Note 24 and Note 26, as to which the date is May 28, 2026.

![](ea029197701_img6.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Board of Directors and Shareholders of

Ticketplus Ltd.

**Opinion on the Financial Statements**

We have audited the accompanying balance sheets of Ticketplus Ltd. and its subsidiaries (the "Company") as of December 31, 2024, the related consolidated statements of profit or loss, shareholders' equity, and cash flows for the year ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year ended December 31, 2024, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's 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 financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the 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 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 financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ CEYA Chile

We have served as the Company's auditor since 2025.

Valparaíso, Chile

January 7, 2026, except for Note 8, as to which the date is March 10, 2026, the Consolidated Statements of Profit or Loss, as to which the date is April 14, 2026, Note 14, as to which the date is April 30, 2026, and the Consolidated Statements of Financial Position, Note 2, Note 12, Note 14, Note 24 and Note 26, as to which the date is May 28, 2026.

**TICKETPLUS LTD.**

**Consolidated Statements of Financial Position**

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $3980838 | $2000866 |
| &nbsp;&nbsp;&nbsp;Trade and other receivables | 9220336 | 1682211 |
| &nbsp;&nbsp;&nbsp;Inventory | 60310 | 58733 |
| &nbsp;&nbsp;&nbsp;Current tax assets | 550256 | 429522 |
| **Total current assets** | 13811740 | 4171332 |
| **Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Intangible assets other than goodwill | 15925873 | 9592435 |
| &nbsp;&nbsp;&nbsp;Property, plant, and equipment | 191405 | 179939 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets | 704895 | 259046 |
| **Total non-current assets** | 16822173 | 10031420 |
| **Total assets** | $30633913 | $14202752 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Other current financing liabilities | $2743145 | $1631197 |
| &nbsp;&nbsp;&nbsp;Trade and other payables – third parties | 5097824 | 752743 |
| &nbsp;&nbsp;&nbsp;Trade and other payables – related parties | 3203029 | 106767 |
| &nbsp;&nbsp;&nbsp;Current provision for employee benefits | 197366 | 94689 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 737096 | 208127 |
| &nbsp;&nbsp;&nbsp;Current income tax payable | 19045 | 16006 |
| **Total current liabilities** | 11997505 | 2809529 |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Other non-current financing liabilities | 10437280 | 6807413 |
| &nbsp;&nbsp;&nbsp;Non-current payables to related parties | 2552433 | 1763038 |
| **Total non-current liabilities** | 12989713 | 8570451 |
| **Total liabilities** | 24987218 | 11379980 |
| **Shareholders' equity** |  |  |
| &nbsp;&nbsp;&nbsp;Class A ordinary shares of par value of $0.0001 each; 250,000,000 shares authorized, 189,525 shares issued and outstanding as of December 31, 2025 and 2024 | 5000 | 2829 |
| &nbsp;&nbsp;&nbsp;Class B ordinary shares of par value of $0.0001 each; 50,000,000 shares authorized, 10,000,000 shares issued and outstanding as of December 31, 2025 and 2024 | 30000 | 149245 |
| &nbsp;&nbsp;&nbsp;Other reserves | 3258649 | 27552 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 109137 | (386959) |
| &nbsp;&nbsp;&nbsp;Accumulated earnings | 2243909 | 3030105 |
| **Total shareholders' equity** | 5646695 | 2822772 |
| **Total liabilities and shareholders' equity** | $30633913 | $14202752 |

---

The accompanying notes are a comprehensive part of these consolidated financial statements.

**TICKETPLUS LTD.**

**Consolidated Statements of Profit or Loss**

---

| | | |
|:---|:---|:---|
|  | **For the years ended<br> December 31,** | **For the years ended<br> December 31,** |
|  | **2025** | **2024** |
| Revenue from ordinary activities | $29462572 | $17963131 |
| Cost of revenue | (16979736) | (10023585) |
| Gross profit | 12482836 | 7939546 |
| Administrative expenses | (8567725) | (5835947) |
| Financial income | 90060 | 305955 |
| Financial costs | (1453913) | (1357931) |
| Exchange difference, net | (5284) | 9317 |
| Income before tax | 2545974 | 1060940 |
| Income tax expense | (302065) | (130123) |
| **Results from continuing operations** | $**2243909** | $**930817** |
| **Comprehensive income:** |  |  |
| &nbsp;&nbsp;&nbsp;Results from continuing operations | 2243909 | 930817 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income | 109137 | (379059) |
| **Total comprehensive income** | $**2353046** | $**551758** |
| Basic and diluted weighted average shares outstanding |  |  |
| Class A Ordinary Shares | 189525 | 189525 |
| Class B Ordinary Shares | 10000000 | 10000000 |
| Basic and diluted earnings (loss) per share |  |  |
| Class A Ordinary Shares | 0.22 | 0.09 |
| Class B Ordinary Shares | 0.22 | 0.09 |

---

The accompanying notes are a comprehensive part of these consolidated financial statements.

**TICKETPLUS LTD.**

**Consolidated Statements of Shareholders' Equity**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class B** | **Class B** | | | | |
|  | **Ordinary Shares** | **Ordinary Shares** | **Ordinary Shares** | **Ordinary Shares** | | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** |<br>**Other**<br>**Reserves** | **Accumulated Other**<br>**Comprehensive**<br>**Income** |<br>**Accumulated**<br>**Earnings** | **Total**<br>**Shareholders'**<br>**Equity** |
| Balance – December 31, 2023 | 189525 | $3202 | 10000000 | $168952 | $27552 | $(128392) | $2199700 | $2271014 |
| Net income |  |  |  |  |  |  | 930817 | 930817 |
| Other comprehensive income |  |  |  |  |  | (49250) |  | (49250) |
| Foreign currency translation | - | (373) | - | (19707) | - | (209317) | (100412) | (329809) |
| Balance – December 31, 2024 | 189525 | 2829 | 10000000 | 149245 | 27552 | (386959) | 3030105 | 2822772 |
| Organizational restructuring | (189525) | (2829) | (10000000) | (149245) | (27552) | 386959 | (3030105) | (2822772) |
| Restructured Balance – December 31, 2024 |  |  |  |  |  |  |  |  |
| Paid in capital | 189525 | 5000 | 10000000 | 30000 |  |  |  | 35000 |
| Common control adjustment |  |  |  |  | 3258649 |  |  | 3258649 |
| Net income |  |  |  |  |  |  | 2243909 | 2243909 |
| Other comprehensive income | - | - | - | - | - | 109137 | - | 109137 |
| Balance – December 31, 2025 | 189525 | $5000 | 10000000 | $30000 | $3258649 | $109137 | $2243909 | $5646695 |

---

The accompanying notes are a comprehensive part of these consolidated financial statements.

**TICKETPLUS LTD.**

**Consolidated Statements of Cash Flows**

---

| | | |
|:---|:---|:---|
|  | **For the years ended<br> December 31,** | **For the years ended<br> December 31,** |
|  | **2025** | **2024** |
| **Cash flows from operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;Income for the year | $2243909 | $930817 |
| &nbsp;&nbsp;&nbsp;Charges (credits) to profit or loss that do not involve cash flow: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expenses | 7090940 | 4085846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expenses | 302065 | 130123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions for benefits to employees | 102677 | 94689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 222010 | 192528 |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in assets affecting cash flow: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in assets | (7538125) | 233605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (1576) | 6216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current tax assets | (120734) | (249259) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current non-financial assets | (445849) | (126457) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in liabilities affecting cash flow: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade and other current payables | 7441343 | (1063264) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities by current taxes | 3038 | 16007 |
| **Net cash provided by (used in) operating activities** | 9299698 | 4250851 |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of intangibles | (12810861) | (9872067) |
| &nbsp;&nbsp;&nbsp;Purchase of property, plant and equipment | (40075) | (98738) |
| **Net cash provided by (used in) investing activities** | (12850936) | (9970805) |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from related party loans | 789395 | 167638 |
| &nbsp;&nbsp;&nbsp;Proceeds from financial institutions | 4741815 | 6316281 |
| **Net cash provided by (used in) financing activities** | 5531210 | 6483919 |
| **Net increase (decrease) in cash** | 1979972 | 763965 |
| **Cash and cash equivalents, beginning of year** | 2000866 | 1236901 |
| **Cash and cash equivalents, end of year** | $3980838 | $2000866 |

---

The accompanying notes are a comprehensive part of these consolidated financial statements.

**TICKETPLUS LTD.**

**Notes to the Consolidated Financial Statements**

**NOTE 1. GENERAL INFORMATION AND REORGANIZATION**

**General Information**

Ticketplus Ltd., an exempted company limited by shares, was incorporated under the laws of the Cayman Islands on December 3, 2025, as a holding company. Ticketplus Ltd. together with its subsidiaries are defined as the "Company". The Company operates as a technology company in the live entertainment industry, providing a proprietary, full-stack platform that integrates event discovery, primary ticketing, access control, payments, real-time analytics, and post-event insights. Upon incorporation, one Class B Ordinary Share of par value $0.0001 was issued and allotted to Mourant Nominees (Cayman) Limited, which share was repurchased by the Company and cancelled on December 15, 2025.

Ticketplus SpA, a joint stock company, was incorporated under the laws of Chile on December 29, 2014. Ticketplus Group SpA, a joint stock company, was incorporated under the laws of Chile on April 3, 2018, and became the sole shareholder of Ticketplus SpA.

**Reorganization**

In order to facilitate the Company's initial public offering, a reorganization of the legal structure (the "Reorganization") was completed on December 15, 2025, and Ticketplus Ltd. became the ultimate holding company.

On December 15, 2025, Ticketplus Ltd. entered into a contribution agreement with Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, the shareholders of Ticketplus Group SpA, pursuant to which the shareholders contributed all issued and outstanding ordinary shares of Ticketplus Group SpA to Ticketplus Ltd. in consideration for the allotment and issuance by Ticketplus Ltd. of an aggregate of 10,000,000 Class B Ordinary Shares and 189,525 Class A Ordinary Shares. As a result, Ticketplus Group SpA became the wholly-owned subsidiary of Ticketplus Ltd.

The Reorganization has been accounted for as a recapitalization among entities under common control since the same controlling shareholders, Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, controlled all these entities before and after the Reorganization. As IFRS does not provide specific guidance for business combinations under common control, the Company has applied the predecessor accounting method in accordance with IAS 8 *Accounting Policies, Changes in Accounting Estimates and Errors* (paragraphs 10-12), which requires management to use its judgment in developing and applying an accounting policy that is relevant and reliable. The consolidation of Ticketplus Ltd. and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. Results of operations for the periods presented comprise those of the previously separate entities combined from the beginning of the period to the end of the period, eliminating the effects of intra-entity transactions.

**NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**(a) Basis of presentation**

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). Our year end is December 31. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

The Company applies the predecessor accounting method, under which:

● Assets and liabilities have been recorded at their historical carrying amounts as reflected in the books of the predecessor entities, rather than at fair value.

● No new goodwill has been recognized as a result of the Reorganization.

● The consolidated financial statements for periods prior to December 15, 2025 represent the combined financial statements of Ticketplus Group SpA and its subsidiaries, presented as if the current corporate structure under Ticketplus Ltd. had always existed.

● The difference between the consideration (189,525 Class A Ordinary Shares issued) and the carrying amounts of net assets acquired has been recorded directly in equity as a reorganization adjustment.

This accounting policy has been selected as it best reflects the economic substance over legal form, consistent with the Conceptual Framework for Financial Reporting (paragraph 2.12), given that there was no change in ultimate economic ownership or control from the perspective of the Controlling Shareholders. The Reorganization represents merely a restructuring of legal entities to facilitate the initial public offering without affecting the underlying economic ownership, risks and rewards, or operations of the business. The consolidation of Ticketplus Ltd. and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the Reorganization had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. Results of operations for the periods presented comprise those of the combined entities from the beginning of each period to the end of each period, with all intra-group transactions

**(b) Principals of consolidation**

These consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the Group have been eliminated.

**(c) Functional and presentation currency**

These consolidated financial statements are presented in the U.S. dollar, which is Ticketplus Ltd.'s functional currency. Ticketplus SpA and Ticketplus Group SpA's functional currency is the Chilean peso. Items included in the financial statements of each of the Company's subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). All financial information has been rounded to the nearest dollar except if indicated otherwise.

**(d) Foreign currency**

Transactions in foreign currency are converted into the functional currency using the exchange rates in force on the dates of the transactions. Assets and liabilities are translated using the closing exchange rate at the respective balance sheet date. Income and expense items are translated using the exchange rates applicable on the dates of the underlying transactions. At the close of the financial year, the translation of the salaries to be collected or paid in a different currency to the functional currency is done at the closing exchange rate. All resulting exchange differences arising from these translations are recognized as foreign exchange differences in the statements of profit or loss.

**(e) New and revised IFRS standards not yet adopted**

New standards, amendments and interpretations that have been issued but not yet effective and have not been applied early by the Company during the years ended December 31, 2025 and 2024 are as follows:

---

| | |
|:---|:---|
| **Standards, Amendments and Interpretations** | **Effective date** |
| ***IFRS 7 "Financial Instruments – Disclosures"*** <br>This amendment applies to the requirements related to disclosures, financial liabilities settled using an electronic payment system, and the assessment of the contractual cash flow characteristics of financial assets. | <br>Annual periods started on or after January 1, 2026. |
| ***IFRS 9 "Financial Instruments"*** <br>This amendment applies to the requirements related to disclosures, financial liabilities settled using an electronic payment system, and the assessment of the contractual cash flow characteristics of financial assets. | <br>Annual periods started on or after January 1, 2026. |
| ***IFRS 18 "Presentation and Disclosure in Financial Statements"<br>*** <br> This new standard sets out overall requirements for the presentation and disclosure in financial statements and aims to improve financial reporting, replacing IAS 1 "*Presentation of Financial Statements."* | <br>Annual periods started on or after January 1, 2027. Early application will be permitted. |
| ***IFRS 19 "Subsidiaries without Public Accountability: Disclosures"*** <br>This new standard permits some subsidiaries to apply the IFRS Accounting Standards with reduced disclosure requirements and is intended to simplify and reduce the cost of the financial report to subsidiaries. | <br>Annual periods started on or after January 1, 2027. Early application will be permitted. |

---

These new or amended standards are not expected to have a significant impact on the consolidated financial statements of the Company.

**(f) Cash and cash equivalents**

Cash and cash equivalents include cash on hand, time deposits with credit entities, other investments of high liquidity and low risk with an original expiration of three months or less, and bank overdrafts. In these consolidated financial statements, overdrafts, if they exist, would be classified as a loan in current liabilities.

**(g) Trade and other accounts receivable**

The amounts for accounts receivable are financial assets that are registered as current assets, except for those that expire over twelve months from the balance sheet date, which would classify as non-current assets. The accounts receivable includes trade receivables and other trade accounts, those that would present deductions of any provision within their value.

The accounts receivable from trade debtors are initially recognized with their fair value, that's to say, their nominal value, which does not include imputed interest given the short terms of the credit granted to the clients, and after that, they are registered for their nominal value minus the impairment loss estimate. The balances included in this item, in general, accrue interest.

**(h) Impairment losses on non-current assets**

Assets subject to depreciation or repayment will be subject to impairment tests and generate effects in the results whenever an event or change in the circumstances indicates that the carrying amount may not be recoverable.

The carrying amount is the fair value of an asset minus the greater of the selling costs or the use value. For the purpose of assessing impairment losses, assets are grouped at the lowest level for which there are separately identifiable cash flows (general cash units). Non- financial assets, other than those of lesser value (e.g., goodwill), that would have suffered impairment loss are reviewed at each balance sheet date to determine whether there has been any reversal of the loss.

**(i) Financial assets**

All conventional purchases or sales of financial assets are recognized and recorded on the date of sourcing. Conventional purchases or sales of a financial asset are purchases or sales under a contract whose conditions require the delivery of the asset during a period that generally is regulated or comes out of an established convention in the corresponding market.

All financial assets recognized are subsequently measured in their entirety, either at amortized cost or fair value, depending on the classification of the financial asset.

*Classification of financial assets*

Financial assets that comply with the following conditions are subsequently measured at amortized cost:

● the financial asset is preserved inside a business model whose objective is to maintain the financial assets to collect the contractual cash flows; and

● the contractual conditions of the financial asset give rise, on specific dates, to cash flows that are solely payments of the principal and interest on the outstanding principal amount.

Financial assets that comply with the following conditions are subsequently measured at fair value through other comprehensive income ("FVOCI"):

● the financial asset is preserved inside a business model whose objective is collecting contractual cash flows and selling financial assets; and

● the contractual conditions of the financial asset give rise, on specific dates, to cash flows that are solely payments of the principal and interest on the outstanding principal amount.

All financial assets that do not comply with the previous conditions are subsequently measured at fair value through profit or loss ("FVTPL").

Notwithstanding the foregoing, the Company can make the following irrevocable decisions at the moment of initial recognition of a financial asset:

● The Company could irrevocably decide to present subsequent changes at the FVOCI for investments in financial instruments that, in other cases, would remain at FVTPL.

● The Company could irrevocably designate a financial asset that complies with the criteria of amortized cost or FVOCI to measure at FVTPL if, by doing so, eliminates or significantly reduces an incongruence of mediation or recognition.

*Amortized value and cash interest method*

The cash interest method is a method that is used for the calculation of an amortized cost of a financial asset and for the distribution of the income from interest throughout the corresponding period.

For the different financial instruments from those financial assets with credit deterioration bought or originated, the effective interest rate is the rate that discounts exactly the collections of estimated future cash (including all commissions and basic points of interest, paying or receiving through the parts of the contract, that integrate the effective interest rate, the cost of transaction

and any other premium or discount) excluding the expected credit losses, during the expected life of the financial asset, or when appropriate, a shorter period, with respect to the value in gross books of a financial asset at the moment of its initial recognition. For financial assets with credit deterioration bought or originated, an effective interest rate adjusted by credit quality is calculated by discounting the estimated cash flows, including the expected credit losses, at the amortized cost of the financial asset on its initial recognition.

The amortized cost of a financial asset is the amount which was measured on its initial recognition a financial asset, minus the reimbursement of the principal, plus the accumulated depreciation, using the cash interest method, of any difference between the initial amount and the expiring amount, adjusted for any correction to the value for losses. On the other hand, the value on gross books of a financial asset is the amortized cost of the financial asset before the adjustment for any reason of loss value.

The interest income is recognized using the interest cash method for financial assets measured at amortized cost and FVOCI. For the different financial instruments of those financial assets with credit deterioration bought or originated, the interest income is calculated applying the effective interest rate at value on the gross books of a financial asset, except for financial assets that have subsequently converted into assets with credit deterioration. For financial assets that are subsequently converted into assets with credit deterioration, the interest income is recognized by applying the effective interest rate at amortized cost of the financial asset. If on subsequent reporting periods, the credit risk of the financial instrument with credit deterioration improves in a way that the financial asset does not have credit deterioration, the interest income is recognized applying the effective interest rate to the value in gross books of the financial asset.

For the financial assets with credit deterioration bought or originated, the Company recognizes the interest income applying the adjusted effective interest rate for amortized quality credit cost of the financial asset from the initial recognition. The calculation does not revert to the gross base, even if the risk of credit of the financial asset improves in a way that the financial asset does not have credit deterioration.

The interest income is recognized in the statement of profit or loss and included in the line "financial income".

*Financial assets measured at FVOCI*

Financial assets measured at FVOCI are initially measured at fair value plus transactional costs. Subsequent changes in the carrying amount of these financial instruments arising from gains and losses due to changes in value, losses and gains from credit deterioration, and interest income calculated using the cash-interest method are recognized in profit or loss. The amounts recognized in profit or loss are equivalent to those that would have been recognized had the instruments been measured at amortized cost. All other changes in fair value are recognized in other comprehensive income and accumulated within equity under "Reserve of gains and losses on financial assets measured at fair value through other comprehensive income." When these financial instruments are derecognized, the cumulative gains or losses previously recognized in other comprehensive income are reclassified to profit or loss.

At the initial recognition, the Company can make an irrevocable decision (about a base of instrument by instrument) to designate investment in financial instruments to be measured at FVOCI. Measurement at FVOCI is not allowed if the financial instrument is maintained to negotiate or if it is a contingent consideration recognized by a purchaser in a combination of businesses to which it applies IFRS 3.

A financial asset is maintained for negotiation if:

● its bought or is incurred primarily with the purpose of selling it in the near future;

● its initial recognition is part of a portfolio of identified financial instruments that the Company jointly manages and for which it has evidence of a really recent pattern of short-term profit-making; or

● it is derived (except for the derivatives that are a financial guarantee agreement or have been designated as an instrument with effective coverage).

The investment in financial instruments measured at FVOCI is initially measured at fair value plus transactional costs. Subsequently, these instruments are measured at fair value, with changes in fair value recognized in other comprehensive income and accumulated in equity under the "Reserve of gains and losses on financial assets measured at fair value through other comprehensive income." The cumulative gains or losses will not be reclassified to profit or loss upon disposal of the financial instruments; instead, they are transferred directly to retained earnings.

The dividends over these investments in financial instruments are recognized in profit or loss when the Company has the right to receive the dividend, it's probable that the Company receives economic benefits associated with the dividend, and the amount of the dividend can be reliably measured, unless the dividend clearly represents a recovery of part of the investment cost. The dividends are included in the line "financial income" in the statement of profit or loss.

*Financial assets measured at FVTPL*

The financial assets that do not comply with the conditions of being measured at amortized cost or FVOCI are measured at FVTPL.

The financial assets designated as FVTPL are measured at fair value at the closing of each report period, with gains and losses of fair value recognized in the statement of profit or loss to the extent that they are not part of a designated relation of coverage. The net gains and losses recognized in the statement of profit or loss include any dividends or interest gained from the financial asset and is included in the line "financial income".

*Gains and losses for the exchange rate difference*

The value of the books of the financial assets that are denominated in a foreign currency are determined in said foreign currency and are converted to the type of change at the closing of each report period. Specifically:

● For financial assets measured at amortized cost that are not part of a coverage relation, the exchange rate difference is recognized in the line "exchange rate difference."

● For financial assets measured at FVOCI that are not part of a coverage relation, the exchange rate difference in the amortized cost of the financial instrument is recognized in the line "exchange rate difference". Other exchange differences are recognized in other comprehensive income in the "Reserve of gains and losses on financial assets measured at fair value through other comprehensive income."

● For financial assets measured at FVTPL that are not part of a coverage relation, the exchange rate difference is recognized in the line "exchange rate difference."

● For financial instruments measured as FVOCI, the exchange rate difference is recognized in other comprehensive income in the "Reserve of gains and losses over financial assets measured at fair value through other comprehensive income".

**(j) Property, plant, and equipment**

*Recognition and measurement*

Property, plant, and equipment items are valued at the cost of acquisition minus accumulated depreciation and deterioration loss. Any gain or loss in the sale of an item of property, plant, and equipment (calculated as the difference between the utility acquired of the disposition and the value in the element's books) is recognized in the statement of profit or loss.

The items categorized as real property, after their initial recognition, will be measured at a fair value given that they can be measured reliably. The revaluation will be done with sufficient regularity to ensure that the amount on the books, at any given moment, does not significantly differ from what could be determined using the fair value at the end of the reporting period.

The frequency of the revaluations will depend on the changes in fair value of the terrains. When the fair value of the real property significantly differs from the amount in the books, a new revaluation will be necessary.

*Subsequent costs*

The cost of replacing part of an entry is recognized in its book value, if it's possible that the future economic benefits incorporated into the part flow to the Company and its cost can be measured reliably. The value in the books of the replaced part will be derecognized.

The costs of amplification, modernization or upgrades that represent and increase the productivity, capacity or efficiency or an increase in the useful life, are capitalized as increasing the value of the goods. The expenses of repairs, conservation, and maintenance are recorded as an expense in the statement of profit or loss when incurred.

*Depreciation*

The property, plant, and equipment items depreciate using the lineal method with base in the estimated useful life of each component.

The property, plant, and equipment items depreciate from the date they are installed and ready for their use, or in the case of internally built assets, from the date the asset is completed and in conditions to be used.

The value of the property, plant, and equipment will be inspected for deterioration when changes occur in the circumstances that indicate that such value is not recoverable.

Gains or losses of sales of property, plant, and equipment are calculated as a difference between sale price and the carrying amount at the sale date, and its differences are recognized in the statement of profit or loss without residual value.

**(k) Intangible assets developed internally**

*Research and development costs*

Expenses for research activities are recognized as expenses in the period in which they occur.

An intangible asset developed internally is recognized if, and only if, all of the following conditions have been verified:

● it is technically possible to complete the production of the intangible asset so that it can be available for its use or sale;

● the Company has the intention of finishing the intangible asset for its use or sale;

● the capacity of using or selling the intangible asset exists;

● it is possible to demonstrate the way in which the intangible asset generates probable economic benefits in the future;

● adequate technical, financial, or any other kind of resources to finish the development and to use or sell the intangible asset actually exist; and

● it is possible to value, in a reliable manner, the attributable disbursements to the intangible asset during its development.

The initial amount recognized for intangible assets developed internally corresponds to the sum of the incurred costs from the date in which the intangible asset is in compliance for the first time with the criteria of recognition numerated previously. When an intangible asset developed internally cannot be recognized, the development expenses are applied to the profit or loss in the period in which the expenses were incurred.

With respect to initial recognition, internally developed intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any.

An intangible asset is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising from the derecognition of an intangible asset—calculated as the difference between the net disposal proceeds and the asset's carrying amount—is recognized in profit or loss in the period in which the asset is derecognized.

*Cost of significant projects*

The costs incurred in the development of certain significant projects (that are in compliance with the recognition conditions mentioned above) are activated and amortized in the periods in which said costs generate income, which, generally, are associated with a contract with a client. The Company considers that, due to the nature of the intangible assets that they maintain, these have a finite useful life and the amortization will start when the asset is available for its use.

The amortization is calculated in linear form using the estimated useful life, and it was determined in base of time that it is expected to obtain future economic benefits. The estimated useful life and the amortization method are reviewed at the closing of each reporting period.

During the year ended December 31, 2024, the Company implemented a policy of accelerated amortization of the capitalized software, recognizing a total expenditure of USD4,043,651.

This extraordinary amortization was based on the incorporation of artificial intelligence ("AI") technology and the resulting obsolescence of previous systems, applying the following criteria:

&nbsp;&nbsp;&nbsp;&nbsp;1. Arrival of AI: The implementation
 of solutions based on AI caused a paradigm shift in the technological architecture of the
 Company, making it necessary to accelerate the amortization of previous systems.

&nbsp;&nbsp;&nbsp;&nbsp;2. Accelerated amortization due to refactorization:
 100% of the residual value of the additions to the 2022 and 2023 software were amortized,
 because they were completely replaced by new technological solutions that integrate AI capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;3. Unused modules: USD102,783 was amortized
 corresponding to specific modules that were not used since the beginning of 2020, anticipating
 that they would not generate future economic benefits.

This policy reflects the accelerated digital transformation of the Company with the adoption of AI technologies, which turned obsolete a big portion of the software infrastructure previously capitalized. The accelerated amortization allows the submission of financial statements that faithfully reflect the real economic value of the intangible assets of the Company.

During the year ended December 31, 2025, the Company recognized a total software amortization expenditure of USD7,386,503, of which USD3,238,074 corresponds to accelerated amortization and USD4,148,430 to regular linear amortization of the capitalized software base.

The accelerated amortization was based on the continued integration of AI technology into the Company's operations and the resulting obsolescence of specific software modules, applying the following criteria:

&nbsp;&nbsp;&nbsp;&nbsp;1. Technological obsolescence driven
 by AI integration: USD1,490,911 was amortized corresponding to 13 software components that
 were rendered obsolete due to the rapid evolution of AI-driven technologies. These included
 application modules requiring frequent updates, cloud infrastructure and autoscaling systems
 superseded by AI-optimized architectures, 3D visualization and search engine components replaced
 by AI-enhanced alternatives, authentication and security protocols overtaken by new AI-based
 standards, and front-end modules subject to complete refactoring.

&nbsp;&nbsp;&nbsp;&nbsp;2. Replacement of software modules: USD1,747,163
 was amortized corresponding to 11 software components that were fully replaced during the
 period. These included general development modules, front-end system improvements that were
 superseded by new platform versions, and automation and monitoring tools that were substituted
 by upgraded solutions.

This policy reflects the continuation of the Company's accelerated digital transformation strategy, where the deepening adoption of AI technologies and ongoing platform modernization efforts have rendered obsolete a portion of the software infrastructure capitalized during the current period. Of the 100 software development items activated during 2025, 24 were subject to accelerated amortization, representing 25.1% of the total capitalized additions. The accelerated amortization ensures that the financial statements faithfully reflect the current economic value of the Company's intangible assets.

**(l) Trade and other payables, current**

The commercial accelerators and other payable current accounts are recognized at their nominal value, because their medium-term payment is reduced and there is no material difference with their fair value.

**(m) Employee benefits**

The Company recognizes personnel vacation expenses through the accrual method. This benefit corresponds to all of the personnel and is a fixed amount according to the particular contracts of each employee. This benefit is recognized at its nominal value.

**(n) Provisions**

Provisions are recognized when the Company has a present obligation, whether it is legal or constructive, as a result of past events; when it is probable that an outflow of resources will be required to settle the obligation; and when a reliable estimate of the value can be made.

Provisions are reviewed and measured periodically, taking into account the best available information at each reporting date.

**(o) Taxes on gains and deferred taxes**

Income tax expense for the financial year is comprised of current tax and deferred tax.

Current tax is calculated based on the tax laws enacted or substantively enacted at the reporting date and applicable to taxable profit for the year.

Deferred tax is calculated using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements.

Deferred tax is measured at the tax rates that have been enacted or substantively enacted by the reporting date and that are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled.

Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. At each reporting date, the carrying amounts of deferred tax assets and liabilities are reviewed to ensure they remain appropriate, and adjustments are made as necessary based on the results of this assessment.

**(p) Other reserves**

Other reserves represent the cumulative balance of monetary adjustments applied to equity accounts under Chilean Generally Accepted Accounting Principles ("Chilean GAAP") prior to the Company's adoption of IFRS on January 1, 2022. Under Chilean GAAP, equity accounts were periodically restated for the effects of inflation using officially published indices through a mechanism known as "*corrección monetaria"* (monetary correction). These restatement adjustments were recorded directly in equity and did not pass through the income statement.

Upon the Company's transition to IFRS in accordance with IFRS 1, the cumulative balance of these equity-level restatement adjustments was reclassified as a separate reserve within shareholders' equity. No further monetary correction adjustments have been recorded subsequent to the date of IFRS adoption.

Other reserves do not represent distributable earnings. They represent a legacy balance arising from the historical application of inflation-based accounting under Chilean GAAP.

**(q) Revenue recognition**

*Ticket sales*

The Company acts as an agent in the sale of tickets for third-party organized events. As a consequence, the Company recognizes as income the moment a ticket is issued and is transferred to the final client, which represents the satisfaction of the performance obligation.

● Performance obligation: Emission and delivery of the ticket to the final client.

● Moment of recognition: At the point in time where the ticket is issued.

● Price determination of the transaction: Agreed commission with the event organizer, net value of the ticket.

*Technological services for events*

The Company provides technological services to event organizers, including ticketing platforms, management of memberships, e-commerce, and the tools to control access.

● Performance obligations: They are individually identifiable according to the contracted service (for example, implementation of the platform, technical support, license agreement, etc.).

● Income recognition:

○ Punctual services (as implementation or configuration) are recognized in the moment that the service is delivered.

○ Continuous services (as support or licenses) are recognized linearly over time during the period of service.

○ Determination of price in the transaction is based on fixed or variable fees contractually agreed upon.

*Additional products sales*

 

In some cases, the Company has commercialized complementary products, such as parking spaces or other services associated with events.

● Performance obligation: Delivery of product or activation of additional service.

● Income recognition: At the moment that the client acquires the product.

● Acting as principal or agent is evaluated on a case-by-case basis. If the Company acts as principal (controls the good or service before transferring), gross income is recognized. If it acts as an agent, net income is recognized.

*Additional considerations*

Revenue is not recognized when significant uncertainties exist regarding the recoverability of the consideration.

Revenue is presented net of discounts, returns, and other commercial adjustments.

No multiple performance obligations requiring separate allocation of the transaction price are identified, except for complex technology contracts.

Revenue is measured at the fair value of the consideration received or receivable, excluding sales taxes and other amounts collected on behalf of third parties.

*Disaggregation of revenue*

The Company delivers its platform services through two service delivery models: Full Operation, under which the Company provides end-to-end event ticketing management, and White-Label, under which the Company licenses its technology platform to third-party operators. In accordance with paragraph 114 of IFRS 15, the Company disaggregates revenue by service delivery model, as this categorization best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Revenue under both delivery models is predominantly recognized at a point in time. Refer to Note 16 for the quantitative disaggregation.

**(r) Statement of cash flows**

The statement of cash flows is prepared using the indirect method and considers the cash movements realized during the fiscal year. The following concepts are used in these statements of cash flows as indicated below:

● *Cash flow*: inflows and outflows of cash or cash equivalents, the latter being understood as highly liquid investments with maturities of less than 90 days from the date of acquisition, and subject to an insignificant risk of changes in value.

● *Operating activities*: are the activities that constitute the principal source of ordinary revenue as well as those activities that cannot be classified as investing or financing activities.

● *Investing activities*: those related to the acquisition, sale, or disposition by other means of non-current assets and other investments not included in cash and cash equivalents.

● *Financing activities*: activities that result in changes in the size and composition of equity and financial liabilities, which are not part of ordinary activities.

**(s) Administrative expenses**

Administrative expenses correspond to general associated with administrative activity.

**(t) Environment**

Environmental expenditures are charged to profit or loss when incurred, except for those related to an investment project, which are capitalized in accordance with IFRS.

**(u) Financial guarantee contracts**

The Company classifies as financial guarantee contracts those contracts that require it to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due in accordance with the original or modified terms of a debt instrument. Financial guarantee contracts are recognized at fair value at initial recognition. Subsequent to initial recognition, financial guarantee contracts are measured at the higher of (i) the amount of the loss allowance determined in accordance with IFRS 9, Section 5.5 (expected credit loss model) and (ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with IFRS 15.

**NOTE 3. RISK MANAGEMENT POLICY**

The Company is dedicated to the commercialization of tickets for artistic, cultural, sports, and entertainment events, both through its digital platform and via physical points of sale. Additionally, it provides comprehensive technological solutions to event organizers, including real-time ticketing systems, membership management, and e-commerce.

In the development of its operations, the Company is exposed to various financial risks, mainly credit risk, liquidity risk, currency risk, and technological risk.

To a lesser extent, it has commercialized ancillary products such as parking.

**Credit risk**

Credit risk refers to the possibility that a counterparty fails to meet its contractual obligations, leading to a financial loss for the Company.

● Event Organizer Clients: The primary exposure stems from accounts receivable from event organizers. Credit assessment policies, exposure limits, and periodic monitoring are applied.

● End Customers: Sales to the public are mainly carried out using electronic means (cards, transfers), which significantly reduces the risk of uncollectible accounts.

● Expected Credit Losses: The Expected Credit Loss model is applied in accordance with IFRS 9, using a simplified approach for trade receivables.

**Liquidity risk**

Liquidity risk is the risk that the Company will be unable to meet its financial obligations as they fall due.

The Company manages this risk through the continuous monitoring of projected and actual cash flow, maintaining sufficient cash balance and available lines of credit.

As of December 31, 2025 and 2024, the Company had adequate liquid resources to cover its short-term liabilities.

**Foreign exchange risk**

The Company enters into certain transactions in foreign currencies related to software licenses and technological services.

Foreign exchange risk exposure is managed through the periodic assessment of the net foreign currency position, and, if required, does not rule out the use of hedging instruments.

As of December 31, 2025 and 2024, the net foreign currency exposure was not significant.

**Technological and operational risk**

Given the digital nature of its operations, the Company is exposed to technological risks such as platform failures, cybersecurity, service interruptions, and system obsolescence.

The Company maintains backup protocols, infrastructure monitoring, continuous software updates, and IT security measures, and performs periodical operational continuity and disaster recovery tests.

**Reputational and compliance risk**

The Company is exposed to risks related to user experience, regulatory compliance in ticket sales, personal data protection, and relationships with event organizers.

Privacy policies, clear terms of use, and customer service mechanisms have been implemented to mitigate these risks. Additionally, the Company complies with the current regulations regarding data protection and e-commerce.

**NOTE 4. USE OF ESTIMATES**

The preparation of the consolidated financial statements in accordance with IFRS requires management to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income, and expenses. The most relevant judgments applied by management include:

● Useful life of fixed and intangible assets.

● Accrued service revenue (revenue recognition)

● Provisions for commitments acquired with third parties.

● Risks arising from ongoing litigation.

● Recovery of accounts receivable from third parties.

**NOTE 5. CASH AND CASH EQUIVALENTS**

The breakdown of cash and cash equivalent is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** |
| Petty cash | 2913 | 548 |
| Foreign currency cash | 28095 | 30920 |
| Cash in bank | 694528 | 38168 |
| Financial investments | 3255302 | 1931230 |
| **Total** | **3980838** | **2000866** |

---

The cash held in current bank accounts is an available resource, and its fair value is equivalent to its book value. The bank balances consist of current bank accounts denominated in Chilean pesos.

The term deposits held by the Company meet the requirements established in IAS 7 to be classified as cash equivalents, as they have maturities of less than three months from the date of acquisition, are readily convertible to known amounts of cash, and are subject to an insignificant risk of changes in value.

The breakdown of financial investments as of December 31, 2025 and 2024 are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Financial Institution** | **Capital<br> Balance** | **Interest** | **Balance<br> as of<br> December 31, <br> 2025** |
| Banco Estado | 950250 | 14293 | 964543 |
| Banco Estado | 1653567 | 20542 | 1674109 |
| Banco Itaú | 551189 | 19734 | 570923 |
| Banco Santander | 43091 | 2636 | 45727 |
| **Total** | **3198097** | **57205** | **3255302** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Financial Institution** | **Capital<br> Balance** | **Interest** | **Balance<br> as of<br> December 31, <br> 2024** |
| Banco Estado | 301066 | 50114 | 351180 |
| Banco Estado | 501776 | 37737 | 539513 |
| Banco Estado | 1003553 | 36984 | 1040537 |
| **Total** | **1806395** | **124835** | **1931230** |

---

**NOTE 6. TRADE AND OTHER RECEIVABLES, CURRENT**

The breakdown of trade and current receivables is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31,<br> 2025** | **As of<br> December 31, <br> 2024** |
| Trade receivables | 3521980 | 371712 |
| Other receivables | 5698356 |  |
| Bank transactions in process\* | - | 1310499 |
| **Total** | **9220336** | **1682211** |

---

\* Corresponds to the collections in process from event partners for events held as of the end of each year.

Trade and other receivables are non-interest bearing, and payment terms are generally up to 90 days.

**Trade receivables** represent amounts owed by event promoters and white-label partners for services rendered by the Company where a formal invoice has been issued, including commissions on ticket sales and SaaS platform fees. Trade receivables are generally collected within 30 to 60 days following event settlement.

**Other receivables** represent accrued service fees and commissions earned by the Company for events held near year-end where the formal invoicing and settlement process had not been completed as of the balance sheet date. These are unbilled receivables arising from the ordinary course of the Company's ticketing operations. The significant increase relative to the prior year ($0 as of December 31, 2024) reflects the substantially higher transaction volumes processed during the fourth quarter of 2025 combined with event settlement timing at year-end. In the prior year, the balance was not material enough to warrant separate presentation. These receivables have corresponding liabilities in trade and other payables (Note 12), principally event revenue payable to promoters ($3,482,021) and accounts payable ($4,703,178), reflecting the same unsettled event cycles at year-end.

**Bank transactions in process** represent ticket sales proceeds processed by payment gateways (credit card, debit card, and digital wallet transactions) but not yet settled into the Company's bank accounts. Bank transactions in process generally settle within 2 to 5 business days depending on the payment method and jurisdiction.

The analysis of overdue and unpaid trade receivables, but not impaired, is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31,<br> 2025** | **As of<br> December 31,<br> 2024** |
| Less than three months overdue | 3525433 | 375165 |
| Between three and six months overdue |  |  |
| Between six and twelve months overdue |  |  |
| More than twelve months overdue | (3453) | (3453) |
| **Total** | **3521980** | **371712** |

---

**NOTE 7. INVENTORY**

As of December 31, 2025 and 2024, the inventory of the Company was USD60,310 and USD58,733, respectively, and primarily related to printed tickets.

**NOTE 8. CURRENT TAX AND DEFERRED TAX ASSETS AND LIABILITIES**

(a) The breakdown of current tax assets and liabilities is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the<br> year <br> ended <br> December 31,<br> 2025** | **For the <br> year<br> ended<br> December 31,<br> 2024** |
| **Current tax assets** | | |
| Monthly provisional tax payments | 492202 | 285510 |
| Remaining tax credit | 58054 | 143205 |
| Employee's sole tax | - | 807 |
| **Total** | **550256** | **429522** |
| **Current tax liability** |  |  |
| Social security payables | 19045 | 16006 |
| **Total** | **19045** | **16006** |
| **Net total for current taxes (payable)** | **531211** | **413516** |

---

(b) The breakdown of deferred taxes is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset** | **Asset** | **Liability** | **Liability** |
|  | **For the <br> year<br> ended<br> December 31, <br> 2025** | **For the <br> year<br> ended<br> December 31, <br> 2024** | **For the <br> year<br> ended<br> December 31, <br> 2025** | **For the<br> year<br> ended<br> December 31,<br> 2024** |
| **Deferred taxes:** | | | | |
| Provision for vacations | 44149 | 25566 |  |  |
| Provision of doubtful accounts | 1025 | 932 |  |  |
| Intangible assets, net | 650936 | 229330 |  |  |
| Fixed assets, net | 8785 | 3218 |  |  |
| **Total** | **704895** | **259046** |  |  |

---

(c) Effect on profit or loss from income tax and the accounting of deferred taxes:

---

| | | |
|:---|:---|:---|
|  | **For the<br> year<br> ended<br> December 31, <br> 2025** | **For the<br> year<br> ended<br> December 31, <br> 2024** |
| Current income tax expense | (449949) | (280410) |
| Deferred taxes | 147884 | 150287 |
| Income tax expense | **302065** | **130123** |

---

(d) Relationship between tax expense (income) and accounting profit:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the year ended<br> December 31, 2025** | **For the year ended<br> December 31, 2025** | **For the year ended<br> December 31, 2024** | **For the year ended<br> December 31, 2024** |
|  | **Amount** | **Rate** | **Amount** | **Rate** |
| Income before tax | $2545974 |  | $1060940 |  |
| Tax at Chilean statutory rate | 687413 | 27.0% | 286454 | 27.0% |
| Tax-only monetary correction and other adjustments arising from the determination of taxable income | (385348) | (15.1)% | (156331) | (14.7)% |
| Income tax expense | 302065 | 11.9% | 130123 | 12.3% |

---

The difference between the statutory rate and the Company's effective tax rate is primarily attributable to adjustments arising from the determination of taxable income ("*renta líquida imponible*") under Chilean tax law. Chilean tax regulations require certain inflation-based adjustments that are not recognized under IFRS, including monetary correction of equity ("*corrección monetaria del patrimonio*") and monetary correction of property, plant, and equipment. Additionally, certain timing differences between accounting and tax treatment of employee benefit provisions, principally accrued vacation, contribute to the difference. These items reduce the Company's taxable base relative to its accounting income before tax, resulting in an effective tax rate below the statutory rate for both periods presented.

**NOTE 9. INTANGIBLE ASSETS OTHER THAN GOODWILL**

The breakdown of intangible assets is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31,<br> 2024** |
| Software | 15925873 | 9592435 |
| Movements of intangible assets |  |  |
| &nbsp;&nbsp;&nbsp;Initial balance | 9592435 | 3764019 |
| &nbsp;&nbsp;&nbsp;Translate currency | 566486 |  |
| &nbsp;&nbsp;&nbsp;Additions | 12810861 | 9872067 |
| &nbsp;&nbsp;&nbsp;Amortization | (7043909) | (4043651) |
| &nbsp;&nbsp;&nbsp;Total | 15925873 | 9592435 |

---

**NOTE 10. PROPERTY, PLANT, AND EQUIPMENT**

The breakdown of the gross amounts, net amounts, and accumulated depreciation of the years ended December 31, 2025 and 2024 is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the <br> year<br> ended<br> December 31, <br> 2025** | **For the <br> year<br> ended<br> December 31, <br> 2024** |
| **Classes of property, plant, and equipment, gross** | | |
| Technological equipment | 444817 | 365940 |
| Furniture | 45093 | 41050 |
| **Total fixed assets** | **489910** | **406990** |
| **Classes of accumulated depreciation:** |  |  |
| Technological Equipment | 279548 | 216631 |
| Furniture | 18957 | 10420 |
| **Total depreciation accumulated** | **298505** | **227051** |
| **Classes of property, plant, and equipment, net:** |  |  |
| Technological Equipment | 165269 | 149309 |
| Furniture | 26136 | 30630 |
| **Total** | **191405** | **179939** |

---

The movement of this line item as of December 31, 2025 and 2024, is as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Technological<br> Equipment** | **Furniture** | **Total** |
| **Opening balance as of January 1, 2025** | 403404 | 45254 | 448257 |
| Additions | 40075 | - | 40075 |
| **Total property, plant, and equipment, gross:** | **443479** | **45254** | **488732** |
| Opening balance as of January 1, 2025 | 238809 | 11488 | 250297 |
| Depreciation for the year | 39665 | 7366 | 47031 |
| **Total accumulated depreciation** | **278474** | **18854** | **297328** |
| **Total property, plant, and equipment, net, as of December 31, 2025** | **165005** | **26400** | **191405** |
| **Opening balance as of January 1, 2024** | 287420 | 20833 | 308253 |
| Additions | 78520 | 20217 | 98737 |
| **Total property, plant, and equipment, gross:** | **365940** | **41050** | **406990** |
| Opening balance as of January 1, 2024 | 179375 | 5481 | 184856 |
| Depreciation for the year | 37256 | 4939 | 42195 |
| **Total accumulated depreciation** | **216631** | **10420** | **227051** |
| **Total property, plant, and equipment, net, as of December 31, 2024** | **149309** | **30630** | **179939** |

---

**NOTE 11. OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES**

The breakdown of other current and non-current financial liabilities is as follows:

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** | **<u>As of December 31, 2025</u>** |
| **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** |
| **Creditor Entity** | **Contract** | **Original<br> Currency** | **Interest<br> Rates<br> (%)** | **Less<br> than<br> 90 days** | **90 days<br> -<br> 1 year** | **Current<br> Bank<br> Loans** | **1-2 years** | **2-3 years** | **3-4 years** | **4-5 years** | **More<br> than<br> 5 years** | **Non-<br> Current<br> Bank <br> Loans** | **Total <br> Bank <br> Loans<br> Carrying<br> Amounts** |
| Banco Estado | Loan | Peso | 9.00% | 102563 | 321741 | **424304** | 464706 | 508718 | 272350 |  |  | **1245774** | **1670078** |
| Banco Estado | Loan | Peso | 8.00% | 139172 | 431291 | **570463** | 617590 | 671045 | 727020 | 652426 |  | **2668081** | **3238544** |
| Banco ITAU | Loan | Peso | 8.45% | 61243 | 190703 | **251946** | 274394 | 298729 | 159295 |  |  | **732418** | **984364** |
| Banco Santander | Loan | Peso | 5.09% | 8679 | 26667 | **35346** | 37213 | 9605 |  |  |  | **46818** | **82164** |
| Banco Santander | Loan | UF | 4.69% | 14371 | 44095 | **58466** | 40548 |  |  |  |  | **40548** | **99014** |
| Banco Santander | Loan | Peso | 9.77% | 227943 | 716580 | **944523** | 1037628 | 1144040 | 1264248 | 449751 |  | **3895667** | **4840190** |
| Banco Santander | Loan | Peso | 8.00% | 80176 | 377921 | **458097** | 546779 | 600677 | 660518 | - |  | **1807974** | **2266071** |
| **Total** |  |  |  | **634147** | **2108988** | **2743145** | **3018858** | **3232814** | **3083431** | **1102177** |  | $**10437280** | $**13180425** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** | **<u>As of December 31, 2024</u>** |
| **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** | **Book Value** |
| **Creditor Entity** | **Contract** | **Original<br> Currency** | **Interest Rates<br> (%)** | **Less<br> than<br> 90 days** | **90 days<br> -<br> 1 year** | **Current<br> Bank<br> Loans** | **1-2 years** | **2-3 years** | **3-4 years** | **4-5 years** | **More<br> than<br> 5 years** | **Non-<br> Current<br> Bank<br> Loans** | **Total<br> Bank<br> Loans<br> Carrying<br> Amounts** |
| Banco Estado | Loan | Peso | 8.41% | 62437 | 194326 | **256763** | 280015 | 252104 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | **532119** | **788882** |
| Banco Estado | Loan | Peso | 8.81% | 38903 | 121660 | **160563** | 175496 | 15350 |  |  |  | **190846** | **351409** |
| Banco Estado | Loan | Peso | 9.00% | 85284 | 267882 | **353166** | 386249 | 423047 | 463112 | 247953 |  | **1520361** | **1873527** |
| Banco Scotiabank | Loan | Peso | 7.32% | 5481 |  | **5481** |  |  |  |  |  | **-** | **5481** |
| Banco Santander | Loan | Peso | 5.09% | 7492 | 23056 | **30548** | 32139 | 33814 | 8725 |  |  | **74678** | **105226** |
| Banco Santander | Loan | UF | 4.69% | 12043 | 36985 | **49028** | 51378 | 35612 |  |  |  | **86990** | **136018** |
| Banco Santander | Loan | Peso | 9.77% | 188468 | 587180 | **775648** | 855990 | 944607 | 1041481 | 1150911 | 409430 | **4402419** | **5178067** |
| **Total** |  |  |  | **400108** | **1231089** | **1631197** | **1781267** | **1704534** | **1513318** | **1398864** | **409430** | $**6807413** | $**8438610** |

---

**NOTE 12. TRADE AND OTHER PAYABLES, CURRENT**

The breakdown of trade and other payables is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** |
| Event revenue | 3482021 | 544723 |
| Accounts payable | 4703178 | 161405 |
| Salaries payable |  | 61600 |
| Fees payable | 23650 |  |
| Taxes payable | 62512 | 43066 |
| Credit card | 25634 | 29768 |
| Other payables | 3858 | 18948 |
| **Total** | **8300853** | **859510** |

---

Of the total trade and other payables of USD8,300,853 as of December 31, 2025, and USD859,510 as of December 31, 2024, USD3,203,029 and USD106,767, respectively, correspond to payables with related parties and are presented separately on the face of the Consolidated Statements of Financial Position as "Trade and other payables – related parties". See Note 14(b) for the nature of the related party relationships and the commercial terms of these transactions. The remaining balance of USD5,097,824 as of December 31, 2025, and USD752,743 as of December 31, 2024, corresponds to payables with third parties and is presented as "Trade and other payables – third parties" on the face of the Consolidated Statements of Financial Position.

**NOTE 13. CURRENT PROVISIONS FOR EMPLOYEE BENEFITS**

As of December 31, 2025 and 2024, the current provisions for employee benefits were USD197,366 and USD94,689, respectively, and consisted of provisions for vacations.

**NOTE 14. RELATED PARTY TRANSACTIONS**

**(a) Non-Current Payables to Related Parties**

The breakdown of non-current payables to related parties as of the close of the fiscal year is as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Type** | **As of<br> December 31, <br> 2025** | **As of<br> December 31,<br> 2024** |
| Joaquin Jadue | Loan |  | 17357 |
| Sebastian Orellana Moreno | Loan |  | 16235 |
| Chien-Fu Chen Chen | Loan |  | 17980 |
| Argentina Real Estate 1 LLC\* | Loan | 2213140 | 1711466 |
| Te vi SpA\* | Loan | 339293 | - |
| **Total** |  | **2552433** | **1763038** |

---

\* Argentina Real Estate 1 LLC and Te vi SpA are beneficially owned by Yethro Dinamarca Santelices, the Company's director and Chair of the board of directors.

The amounts due to related parties are non-trade, unsecured, and non-interest-bearing loans. These loan balances represent working capital provided by the Company's related parties to directly fund core platform software development. The loans have a maturity date of December 31, 2027, which was extended to December 31, 2029 for the loans to Argentina Real Estate 1 LLC and Te vi SpA.

During the year ended December 31, 2025, the Company repaid the balances due to Joaquín Jadue, Sebastián Orellana Moreno, and Chien-Fu Chen Chen from operating cash flow. The balances due to Argentina Real Estate 1 LLC and Te vi SpA increased as a result of additional working capital provided for core platform software development during the year ended December 31, 2025.

**(b) Current Trade Payables with Related Parties**

In the ordinary course of business, the Company engages Ozmo SpA and its wholly owned subsidiary Global Services SpA (together, the "Affiliated Service Providers") as providers of technology services. These entities are under common control and are beneficially owned by Yethro Dinamarca Santelices, the Company's director and Chair of the board of directors. The transactions were settled as trade payables on standard commercial terms. There were no loans, advances, guarantees, or financing arrangements between the Company and either of the Affiliated Service Providers, nor are there exclusivity arrangements, proprietary technology owned by these entities, or contractual barriers to transition to other technology service providers.

Aggregate outstanding trade payables as of each balance sheet date presented:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** | **As of<br> December 31, <br> 2024** |
| Outstanding trade payables (aggregate) |  | 3203029 |  | 106767 |

---

The aggregation of both entities is presented in accordance with IAS 24.18 and IAS 24.24, reflecting the similar nature of the transactions, common ultimate control, and substantially equivalent commercial terms. The transactions were settled in the ordinary course of business on standard commercial terms, and the outstanding balances at each period-end reflect the Company's ongoing commercial relationship with the Affiliated Service Providers. The commercial terms were determined on an arm's length basis. Outstanding balances are presented separately on the face of the Consolidated Statements of Financial Position as "Trade and other payables – related parties".

**(c) Financial Guarantee Contract - Mortgage Loan to Chief Executive Officer**

On September 12, 2025, the Company's principal Chilean operating subsidiary, Ticketplus SpA, was constituted as guarantor and joint and several co-debtor (codeudor solidario) of all obligations owed by Mr. Chien-Fu Chen Chen, the Company's Chief Executive Officer and director, to Scotiabank Chile under a personal mortgage loan extended by Scotiabank Chile to Mr. Chen for the acquisition of his primary residence. The mortgage loan principal amount was UF 20,300 (approximately USD814,000), bearing a fixed annual interest rate of 4.46%, repayable in 360 monthly installments over a 30-year term, following an initial six-month grace period. The mortgage loan is secured by a first-priority mortgage in favor of Scotiabank Chile over the acquired property, together with prohibitions on disposal, encumbrance, subdivision, and leasing without Scotiabank Chile's prior written consent.

The arrangement constitutes a financial guarantee contract under IFRS 9, Appendix A. Pursuant to IFRS 9.4.2.1(c), financial guarantee contracts are measured, after initial recognition, at the higher of (i) the amount of the loss allowance determined in accordance with IFRS 9, Section 5.5 (expected credit loss model) and (ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with IFRS 15.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Initial recognition (IFRS 9.5.1.1). The guarantee was issued without consideration to the Company. Management evaluated the fair value of the guarantee at initial recognition and determined it to be immaterial to the consolidated financial statements considering (A) the first-priority mortgage held by Scotiabank Chile over the residential property securing the underlying loan and (B) the credit profile of Mr. Chen. Accordingly, no liability was recognized in the Consolidated Statements of Financial Position at initial recognition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Subsequent measurement (IFRS 9.5.5). As of December 31, 2025, the Company assessed expected credit losses for the guarantee under the general approach in IFRS 9 Section 5.5, recognized at an amount equal to twelve-month expected credit losses (Stage 1) because the credit risk on the guarantee had not increased significantly since initial recognition. The resulting expected credit loss was concluded to be immaterial, given the first-priority mortgage held by Scotiabank Chile over the residential property and the absence of any indicators of credit deterioration with respect to Mr. Chen.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Maximum credit exposure (IFRS 7.36(a)). As of December 31, 2025, the Company's maximum exposure under the guarantee was equal to the outstanding balance of the underlying mortgage loan, which was approximately UF 20,300 (approximately USD814,000). The mortgage loan was within the initial six-month grace period during which no principal amortization had occurred. The first regular installment was scheduled for April 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Collateral and credit enhancements (IFRS 7.36(b)). The mortgage loan is secured by a first-priority mortgage in favor of Scotiabank Chile over the acquired property, together with prohibitions on disposal, encumbrance, subdivision, and leasing without Scotiabank Chile's prior written consent. Pursuant to the terms of the guarantee, Scotiabank Chile may collect the full mortgage debt from Ticketplus SpA, at its election, without first pursuing remedies against Mr. Chen or the mortgaged property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Credit quality information (IFRS 7.36(c)). The mortgage loan was neither past due nor impaired as of December 31, 2025. As of such date, the loan was within the initial six-month grace period, and no contractual installment was yet payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Sensitivity (IFRS 7.40). A reasonably possible adverse change in the credit quality of Mr. Chen would not result in a material change to the Company's expected credit loss exposure under the guarantee, given the first-priority mortgage held by Scotiabank Chile over the residential property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Subsequent event (IAS 10). The Company has initiated the process to release Ticketplus SpA from its obligations as guarantor and joint and several co-debtor under the September 12, 2025 mortgage loan, and expects to complete such release prior to the effectiveness of the Registration Statement. The release was not effected as of the date of authorization for issue of these consolidated financial statements. If the release is effected prior to the authorization for issue of the financial statements included in any subsequent amendment to the Registration Statement, such release will be reflected as a non-adjusting subsequent event in Note 26 pursuant to IAS 10.

The terms of the mortgage loan and the related guarantee were negotiated on an arm's-length basis with Scotiabank Chile, a financial institution unaffiliated with the Company.

**NOTE 15. NET EQUITY**

**(a) Management and obtainment of capital**

The Company's objective in capital management is to maintain an adequate level of capitalization, allowing it to secure access to financial markets for the development of its medium and long-term objectives, while optimizing returns for its shareholders and maintaining a solid financial position.

**(b) Subscribed and paid-in capital and number of shares**

---

| | | |
|:---|:---|:---|
| **Shareholders' equity** | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** |
| Class A ordinary shares of par value of $0.0001 each; 250,000,000 shares authorized, 189,525 shares issued and outstanding as of December 31, 2025 and 2024 | 5000 | 2829 |
| Class B ordinary shares of par value of $0.0001 each; 50,000,000 shares authorized, 10,000,000 shares issued and outstanding as of December 31, 2025 and 2024 | 30000 | 149245 |
| Other reserves | 3258649 | 27552 |
| Accumulated other comprehensive income | 109137 | (386959) |
| Accumulated earnings | 2243909 | 3030105 |

---

**NOTE 16. REVENUE**

The following table presents the Company's revenue disaggregated by service delivery model for the years ended December 31, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31,<br> 2025** | **As of<br> December 31, <br> 2024** |
| Full Operation | 27783205 | 16877264 |
| White-Label | 1679367 | 1085867 |
| **Total Revenue** | **29462572** | **17963131** |

---

Revenue from Full Operation services consists primarily of commissions earned on ticket sales for events managed end-to-end by the Company. Revenue from White-Label services consists of technology licensing and configuration fees earned from third-party operators utilizing the Company's platform. Revenue under both delivery models is recognized predominantly at a point in time, upon the issuance and delivery of tickets to the end customer or completion of the service. The Company's technology platform, cost structure, and operational resources are shared across both delivery models without discrete cost allocation.

**NOTE 17. COST OF REVENUE**

The breakdown of this line item is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** |
| Cost of sales | 14693071 | 8462105 |
| Cost of event operations | 1451238 | 1020062 |
| Payment method commissions | 517449 | 399576 |
| Other costs | 317978 | 141842 |
| **Total** | **16979736** | **10023585** |

---

Cost of sales is comprised of direct costs incurred in the delivery of the Company's technology platform services. The principal components are (i) cloud infrastructure, server, storage, and computing service costs, (ii) local subsidiary operating costs, including support personnel, third-party software licenses, and managed service contracts, (iii) fees charged by payment processors and gateways for each transaction processed, and (iv) rebates or portions of the service charge contractually returned to event producers under specific agreements.

**NOTE 18. ADMINISTRATIVE EXPENSES**

The breakdown of the administrative expenses is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31, <br> 2024** |
| Amortization | 7043909 | 4043651 |
| Personnel expenses | 284248 | 590986 |
| Consulting services | 244780 | 484642 |
| Sales and marketing | 616320 | 382826 |
| Office expenses | 127965 | 220373 |
| Depreciation | 47031 | 42195 |
| Other operating expenses | 188209 | 51621 |
| Business licenses |  | 7062 |
| Notary fees | 11725 | 6588 |
| Uncollectable accounts | 3538 | 6003 |
| **Total** | **8567725** | **5835947** |

---

**NOTE 19. FINANCIAL INCOME**

The breakdown of this line item is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31,<br> 2024** |
| Mutual funds interest | 69165 | 171497 |
| Interest income from term deposits |  | 90008 |
| Other interests | 20895 | 44450 |
| **Total** | **90060** | **305955** |

---

**NOTE 20. COMMON CONTROL ADJUSTMENT**

As described in Note 1, on December 15, 2025, Ticketplus Ltd. acquired 100% of the issued and outstanding ordinary shares of Ticketplus Group SpA through a contribution agreement with the existing shareholders.

IFRS 3 excludes business combinations under common control from its scope (IFRS 3.2(c)). In the absence of specific guidance under IFRS, the Company applied IAS 8 paragraphs 10-12 and adopted the predecessor accounting method. Under this method, the difference between the net assets contributed at the transaction date and the consideration transferred ($35,000) has been recorded as a common control adjustment of $3,258,649 directly in other reserves within shareholders' equity, without recognition of a gain or loss in profit or loss. This reclassification has no impact on total shareholders' equity or total cash flows.

**NOTE 21. FINANCIAL COSTS**

The breakdown of this line item is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31, <br> 2025** | **As of<br> December 31,<br> 2024** |
| Interest expenses | 1447083 | 982296 |
| Bank commissions | 5445 | 373940 |
| Dollar purchase commission | 1385 | 1695 |
| **Total** | **1453913** | **1357931** |

---

**NOTE 22. EXCHANGE DIFFERENCE, NET**

The breakdown of this line item is as follows:

---

| | | |
|:---|:---|:---|
|  | **As of<br> December 31,<br> 2025** | **As of<br> December 31,<br> 2024** |
| Restatement of monthly provisional payments | (3519) | 7613 |
| Other monetary adjustments | (1765) | 1704 |
| Total | (5284) | 9317 |

---

**NOTE 23. LEGAL PROCEEDINGS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Case Name** | **Case Number** | **Tribunal** | **Claim<br> Amount** | **Current Status** | **Legal<br> Assessment –<br> Probability of Favorable<br> Outcome** |
| Ticketplus SpA con Peña | &nbsp;&nbsp;&nbsp;&nbsp;rol C-1737-2025. | &nbsp;&nbsp;&nbsp;&nbsp;23° Civil Court of Santiago | 47056 | Enforcement proceeding against Altok Prudcciones SpA and its guarantor. Service of process could not be achieved due to incorrect addresses, and the statute of limitations for the enforcement action has expired. Only the option of an ordinary lawsuit remains if a new address is obtained. A resolution is unlikely in 2025. | &nbsp;&nbsp;&nbsp;&nbsp;Low |
| Ticketplus SpA con Araus | rol C-2343-2025. | 10° Civil Court of Santiago | 51463 | Enforcement proceeding against Starlight SpA and its guarantor. Service of process could not be achieved, and the enforcement action has expired. There is an acknowledgement of debt with an agreed payment scheduled for December 31, 2025. | Medium |
| Ticketplus SpA con Sáez | rol C-2072-2025 | 2° Civil Court of Concepción | 87903 | Enforcement proceeding against Riff Chile SpA and its guarantor. Seizure of movable assets was successfully performed; an auction is likely, but the amount obtained would not cover the debt. | Medium |
| Ticketplus SpA con Ugalde | rol C-8386-2025 | 15° Civil Court of Santiago | 10796 | Enforcement proceeding against La Jauz SpA and its guarantor. Service of process could not be achieved, and the enforcement action has expired. Only the option of an ordinary lawsuit remains if a new address is obtained. A resolution is unlikely in 2025. | Low |
| Ticketplus SpA con Luengo | &nbsp;&nbsp;&nbsp;&nbsp;rol C-9442-2025. | &nbsp;&nbsp;&nbsp;&nbsp;5° Civil Court of Santiago | 174367 | Enforcement proceeding against Grupo Liive SpA and its guarantor. Service of process could not be achieved; three promissory notes expire on December 31, 2025, and one on May 30, 2026. There is an acknowledgment of debt with a pending payment day. | &nbsp;&nbsp;&nbsp;&nbsp;Medium |
| Ticketplus SpA con Salinas | &nbsp;&nbsp;&nbsp;&nbsp;rol C-13850-2025 | &nbsp;&nbsp;&nbsp;&nbsp;24° Civil Court of Santiago | 12706 | Enforcement proceeding against Florida Bier Producciones SpA and its guarantor. The lawsuit has not yet been formally admitted by the court; service of process is expected in 2025. Statute of limitations: January 31, 2026. A definitive outcome is not expected in 2025. | &nbsp;&nbsp;&nbsp;&nbsp;Low |
| Ticketplus SpA con Osorio | rol C-15045-2025 | 2° Civil Court of Santiago | 21941 | Enforcement proceeding against Editrans Ltda. and its guarantor. The lawsuit has not yet been formally admitted by the court; service of process is expected in the coming days. A definitive outcome is not expected in 2025. | Low |

---

**NOTE 24. CONTRACTUAL WARRANTIES AND RESTRICTIONS**

Other than the financial guarantee contract issued by Ticketplus SpA in connection with the personal mortgage loan extended by Scotiabank Chile to the Chief Executive Officer, as described in Note 14(c), the Company has no guarantees or restrictions outstanding as of December 31, 2025. As of December 31, 2024, the Company had no guarantees or restrictions outstanding.

**NOTE 25. ENVIRONMENT**

As of December 31, 2025 and 2024, the Company has not made disbursements for the improvement of processes or for the control and verification of the environment.

**NOTE 26. SUBSEQUENT EVENTS**

On March 16, 2026, the Company, with the approval of its shareholders, redesignated all of its authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, the Company had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

On May 11, 2026, the Company entered into a new commercial loan with Banco Santander Chile for CLP$2,500,000,000 (approximately $2.6 million), payable in 48 monthly installments at a fixed rate of 0.73% per month, with the first installment due July 6, 2026 and the last due June 5, 2030.

Subsequent to the balance sheet date, the Company has initiated the process to release Ticketplus SpA, the Company's principal Chilean operating subsidiary, from its obligations as guarantor and joint and several co-debtor under the personal mortgage loan extended by Scotiabank Chile to Chien-Fu Chen Chen on September 12, 2025, as described in Note 14(c). The Company expects to complete this release prior to the effectiveness of the Registration Statement. If the release cannot be completed prior to the effectiveness of the Registration Statement, then the loan will be paid off in its entirety by Chien-Fu Chen Chen prior to the effectiveness of the Registration Statement.

**Ordinary Shares**

![](ea029197701_img1.jpg)

**TICKETPLUS Ltd.**

**PROSPECTUS**

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

Through and including [ ] (the 25th day after the date of this prospectus), all dealers that effect transactions in our Ordinary Shares, whether or not participating in this offering, may be required to deliver a prospectus. This delivery requirement is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to unsold allotments or subscriptions.

**PART II**

**INFORMATION NOT REQUIRED IN THE PROSPECTUS**

**Item 6. Indemnification of Directors and Officers.**

Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, actual fraud or the consequences of committing a crime.

Our amended and restated memorandum and articles of association will provide that our officers and directors will be indemnified by us to the fullest extent permitted by law, as it now exists or may in the future be amended, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect.

Under the form of indemnification agreement filed as an exhibit to this registration statement, we will agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being such a director or executive officer.

The form of underwriting agreement filed as an exhibit to this registration statement will also provide for indemnification of us and our officers and directors.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Recent Sales of Unregistered Securities.**

In the past three years, we have issued and sold the securities described below without registering the securities under the Securities Act.

On December 3, 2025, we issued one Class B Ordinary Share to Mourant Nominees (Cayman) Limited for total consideration of $0.0001, in connection with the incorporation of Ticketplus Ltd. On December 15, 2025, this share was repurchased by the Company and cancelled.

On December 15, 2025, we entered into a contribution agreement with Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, the shareholders of Ticketplus Group SpA, pursuant to which the shareholders contributed all issued and outstanding ordinary shares of Ticketplus Group SpA to Ticketplus Ltd. in consideration for the allotment and issuance by Ticketplus Ltd. of an aggregate of 10,000,000 Class B Ordinary Shares and 189,525 Class A Ordinary Shares. As a result, Ticketplus Group SpA became our wholly-owned subsidiary.

On March 16, 2026, we, with the approval of our shareholders, redesignated all of our authorized (issued and unissued) Class A Ordinary Shares and Class B Ordinary Shares into a single class of Ordinary Shares on a one-to-one basis. Following the redesignation, we had an aggregate of 10,189,525 Ordinary Shares issued and outstanding.

No underwriters were involved in these issuances. Unless otherwise stated above, the above issuances were exempt from registration under the Securities Act as they were issued to (i) "accredited investors" as defined in Section 2(a)(15) of the Securities Act, and Rule 501 promulgated thereunder, in reliance upon the exemption contained in Section 4(a)(2) of the Securities Act, and/or Rule 506(b) of Regulation D promulgated thereunder, or (ii) non-U.S. persons made in compliance with the provisions of Regulation S promulgated under the Securities Act.

**Item 8. Exhibits and Financial Statement Schedules.**

(a) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\* | Form of Underwriting Agreement |
| 2.1 | [Contribution Agreement between Ticketplus Ltd., Yethro Dinamarca Santelices, Chien-Fu Chen Chen, and Sebastián Orellana Moreno, dated December 15, 2025](ea029197701ex2-1.htm) |
| 3.1 | [Memorandum and Articles of Association of Ticketplus Ltd. (effective until March 16, 2026)](ea029197701ex3-1.htm) |
| 3.2 | [Amended and Restated Memorandum and Articles of Association of Ticketplus Ltd. (currently effective)](ea029197701ex3-2.htm) |
| 3.3 | [Amended and Restated Memorandum and Articles of Association of Ticketplus Ltd. (to be effective upon the effectiveness of this registration statement)](ea029197701ex3-3.htm) |
| 5.1\* | Opinion of Mourant Ozannes (Cayman) LLP |
| 10.1 | [Form of Director and Officer Indemnification Agreement](ea029197701ex10-1.htm) |
| 10.2† | [Form of Independent Director Agreement](ea029197701ex10-2.htm) |
| 10.3† | [Ticketplus Ltd. 2026 Equity Incentive Plan](ea029197701ex10-3.htm) |
| 10.4† | [Form of Share Option Agreement for Ticketplus Ltd. 2026 Equity Incentive Plan](ea029197701ex10-4.htm) |
| 10.5† | [Form of Restricted Shares Award Agreement for Ticketplus Ltd. 2026 Equity Incentive Plan](ea029197701ex10-5.htm) |
| 10.6† | [Form of Restricted Share Unit Award Agreement for Ticketplus Ltd. 2026 Equity Incentive Plan](ea029197701ex10-6.htm) |
| 10.7†\* | Form of Employment Agreement for Executive Officers |
| 10.8 | [English Translation of Loan Agreements with Banco Estado](ea029197701ex10-8.htm) |
| 10.9 | [English Translation of Loan Agreements with Banco Itaú](ea029197701ex10-9.htm) |
| 10.10 | [English Translation of Loan Agreements with Banco Santander](ea029197701ex10-10.htm) |
| 10.11 | [English Translation of Sublease Agreement with Inmobiliaria e Inversiones Genau SpA](ea029197701ex10-11.htm) |
| 14.1 | [Code of Ethics and Business Conduct](ea029197701ex14-1.htm) |
| 21.1 | [List of Subsidiaries](ea029197701ex21-1.htm) |
| 23.1 | [Consent of CEYA Chile](ea029197701ex23-1.htm) |
| 23.2 | [Consent of Baker Tilly Paraguay](ea029197701ex23-2.htm) |
| 23.3\* | Consent of Mourant Ozannes (Cayman) LLP (included in Exhibit 5.1) |
| 24.1 | [Power of Attorney (included on the signature page of this registration statement)](#p_001) |
| 99.1 | [Audit Committee Charter](ea029197701ex99-1.htm) |
| 99.2 | [Compensation Committee Charter](ea029197701ex99-2.htm) |
| 99.3 | [Nominating and Corporate Governance Committee Charter](ea029197701ex99-3.htm) |
| 99.4\* | Consent of [ ] to be named as a director nominee |
| 99.5\* | Consent of [ ] to be named as a director nominee |
| 99.6\* | Consent of [ ] to be named as a director nominee |
| 107 | [Filing Fee Table](ea029197701ex-fee.htm) |

---

\* To be filed be amendment.

† Executive compensation plan or arrangement.

(b) Financial Statement Schedules

Schedules have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or the notes thereto.

**Item 9. Undertakings.**

The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement, certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

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, 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 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.

The undersigned registrant hereby undertakes that:

&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;(2) For purposes 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.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Santiago, Chile on May 28, 2026.

---

| | |
|:---|:---|
| **Ticketplus Ltd.** | **Ticketplus Ltd.** |
| By: | /s/ Chien-Fu Chen Chen |
| Name: | Chien-Fu Chen Chen |
| Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Chien-Fu Chen Chen and Joaquín Jadue, and each of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this registration statement, and any registration statement relating to the offering covered by this registration statement and filed pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys in fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Chien-Fu Chen Chen | Chief Executive Officer (Principal Executive Officer) <br> and Director | May 28, 2026 |
| Chien-Fu Chen Chen |  |  |
| /s/ Joaquín Jadue | Chief Financial Officer (Principal Financial Officer and<br> Principal Accounting Officer) | May 28, 2026 |
| Joaquín Jadue |  |  |
| /s/ Yethro Dinamarca Santelices | Director and Chair of the Board | May 28, 2026 |
| Yethro Dinamarca Santelices |  |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of Ticketplus Ltd. has signed this registration statement or amendment thereto in New York on May 28, 2026.

---

| | |
|:---|:---|
| **Cogency Global Inc.**<br> **Authorized U.S. Representative** | **Cogency Global Inc.**<br> **Authorized U.S. Representative** |
| By: | /s/ Colleen A. De Vries |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice President on behalf of<br> Cogency Global Inc. |

---

## Exhibit 2.1

**Exhibit 2.1**

**CONTRIBUTION AGREEMENT**

This Contribution Agreement (this "**Agreement**"), dated December 15, 2025 (this "**Effective Date**"), is entered into by and among:

&nbsp;&nbsp;&nbsp;&nbsp;(1) **Ticketplus Ltd.**, a Cayman Islands exempted company (the "**Company**") with
 its registered office at c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue,
 Camana Bay, PO Box 1348, Grand Cayman KY1-1108, Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;(2) **Yethro Dinamarca Santelices**, a shareholder of 2,283,600 shares of Ticketplus Group SpA,
 a company existing under the laws of Chile ()"**Ticketplus Group** "), with
 a registered office address of Alonso de Córdova 5320, piso 16, comuna de Las Condes,
 Región Metropolitana, Santiago, Chile;

&nbsp;&nbsp;&nbsp;&nbsp;(3) **Chien-Fu Chen Chen**, a shareholder of 660,616 shares of Ticketplus Group; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) **Sebastián Orellana Moreno**, a shareholder of 55,784 shares of Ticketplus Group (together
 with Yethro Dinamarca Santelices and Chien-Fu Chen Chen, the "**Contributors** ").

**BACKGROUND**

A. The Contributors are the record and beneficial owners of 3,000,000 ordinary
 shares without par value (the "**Contributed Shares**") of Ticketplus Group, which Contributed
 Shares constitute one hundred percent (100%) of the issued and outstanding shares of Ticketplus Group
 as of the Effective Date.

B. The Contributors desire to contribute to the Company all of Contributors'
 rights, titles and interests in and to the Contributed Shares, and the Company desires to accept such
 contribution from the Contributors subject to the terms and conditions set forth in this Agreement.

**AGREEMENT**

**NOW, THEREFORE,** in consideration of the mutual covenants, agreements, representations and warranties contained in this Agreement, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CONTRIBUTION; CLOSING.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Contribution</u>. Subject to the terms of this Agreement, at the Closing (as defined below), the Contributors shall contribute, assign, transfer, convey and deliver to the Company, and the Company shall accept from the Contributors, all of Contributors' rights, titles and interests in and to the Contributed Shares, in each case free and clear of all liens, security interests, pledges, equities and claims of any kind, voting trusts, stockholder agreements and other encumbrances. The contribution of the Contributed Shares held by Yethro Dinamarca Santelices is valued at US$1,065,448, which represents the Chilean tax cost basis of CLP$972,391,360 converted into United States dollars, according to the official exchange rate published by the Chilean Central Bank as of the date hereof. The contribution of the contributed shares held by Chien-Fu Chen Chen is valued at US$169,363, which represents the Chilean tax cost basis of CLP$154,570,438 converted into United States dollars, according to the official exchange rates published by the Chilean Central Bank as of the date hereof. The contribution of the Contributed Shares held by Sebastián Orellana Moreno is valued at US$6,664, which represents the Chilean tax cost basis of CLP$6,081,738 converted into United States dollars, according to the official exchange rate published by the Chilean Central Bank 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;(b) <u>Consideration</u>. The total consideration for the Contributed Shares shall be satisfied by the allotment and issuance by the Company of (i) 7,756,267 Class B ordinary shares of a par value of US$0.0001 each in the capital of the Company (the "**Class B Ordinary Shares**") to Yethro Dinamarca Santelices (the "**YDS Shares**"), (ii) 2,243,733 Class B Ordinary Shares to Chien-Fu Chen Chen (the "**CFC Shares**"), and (iii) 189,525 Class A ordinary shares of a par value of US$0.0001 each in the capital of the Company (the "**Class A Ordinary Shares**") to Sebastián Orellana Moreno (the "**SOM Shares**" and together with the YDS Shares and the CFC Shares, the "**Consideration Shares**"). The parties declare that the contribution of the Contributed Shares is made at Chilean tax cost basis value pursuant to the corporate reorganization rule provided by Article 64 of the Chilean Tax Code. The contribution is made as part of a strategic corporate reorganization process being undertaken by the Contributors and the Company that aims to implement a corporate structure suitable for the expansion of Ticketplus Group's operations into the U.S. market and facilitate access to international capital markets, financing agreements with global funds, and a potential Public Offering (as defined below) and listing on a major U.S. stock exchange.

&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) <u>Closing</u>. The closing of the transactions contemplated by this Agreement (the "**Closing**") shall take place on the Effective Date, or on such other date as the parties may mutually agree in writing (the "**Closing Date**") and may be effected by the electronic exchange of documents and signatures. On the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Contributors shall deliver to the Company, in each case in form and substance reasonably satisfactory to the Company, (A) a share transfer instrument in favour of the Company in respect of each Contributor's Contributed Shares duly executed by or on behalf of each Contributor in accordance with Chilean law, which shall explicitly declare that the transfer constitutes a contribution made at Chilean tax cost basis value pursuant to the corporate reorganization rule provided by Article 64 of the Chilean Tax Code; (B) all books and records of Ticketplus Group; (C) a copy of the resolutions in writing or minutes of a meeting of the board of directors or equivalent governing body of Ticketplus Group evidencing the approval of such governing body of the transfer of the Contributed Shares to the Company; (D) a copy of the updated register of members or equivalent statutory register of Ticketplus Group evidencing the transfer of the Contributed Shares to the Company; and (E) such other documents as the Company may reasonably require to effect the transfer of the Contributed Shares 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;(ii) subject to compliance by the Contributors with the provisions of Section 1(c)(i), the Company shall issue and allot to the Contributors the Consideration Shares, which shall upon issue be credited as fully paid, and enter the name of each Contributor in the register of members of the Company as the registered holder of each Contributor's respective Consideration Shares as described in Section 1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. REPRESENTATIONS AND WARRANTIES OF THE CONTRIBUTORS.

Each of the Contributors severally and not jointly hereby represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Good Title</u>. Each Contributor is the registered and beneficial owner, and has good title to, its respective Contributed Shares, with the right and authority to sell and deliver such Contributed Shares. Upon registering the Company as the new owner of such Contributed Shares, the Company will receive good title to such Contributed Shares, free and clear of all liens, security interests, pledges, equities and claims of any kind, voting trusts, stockholder agreements and other encumbrances.

&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>Authority; Execution and Delivery; Enforceability</u>. Each Contributor has the legal power and authority to execute and deliver this Agreement and to perform its obligations hereunder. All acts required to be taken by the Contributor to enter into this Agreement and to carry out the contribution of the Contributed Shares have been properly taken. This Agreement constitutes a legal, valid and binding obligation of the Contributor, enforceable against the Contributor in accordance with the terms 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) <u>No Conflicts</u>. The execution and delivery of this Agreement by the Contributor and the performance by the Contributor of its obligations hereunder in accordance with the terms hereof: (i) will not require the consent of any third party or any federal, state, local or foreign government or any court of competent jurisdiction, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign under any statute, law, ordinance, rule, regulation, order, writ, injunction, judgment, or decree; (ii) will not violate any laws applicable to the Contributor or Ticketplus Group; and (iii) will not violate or breach any contractual obligation to which the Contributor or Ticketplus Group is a party.

&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>Litigation</u>. There is no pending proceeding against the Contributor or Ticketplus Group that involves the Contributed Shares or that challenges, or may have the effect of preventing, delaying or making illegal, or otherwise interfering with, the contribution and, to the knowledge of the Contributor, no such proceeding has been threatened, and no event or circumstance exists that is reasonably likely to give rise to or serve as a basis for the commencement of any 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;(e) <u>Legends</u>. Each Contributor understands and agrees that the Consideration Shares, if certificated, will bear the following legend or one that is substantially similar to the following legend and if not certificated a book entry note with the following legend relating to the Consideration Shares shall be included in the official ledger of the Company:

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY U.S. STATE SECURITIES LAWS AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED IN THE U.S. OR TO U.S. PERSONS EXCEPT (1) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE U.S. STATE SECURITIES LAWS OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE U.S. STATE SECURITIES LAWS, IN WHICH CASE THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE COMPANY AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE U.S. 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;(f) <u>Additional Legend</u>. Additionally, the Consideration Shares will bear any legend required by the "blue sky" laws of any state to the extent such laws are applicable to the securities represented by the certificate so legended.

&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) <u>Investment Representations</u>. Each Contributor represents and warrants to the Company 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) *Entirely for Own Account.* The Consideration Shares are being acquired by the Contributor for its own account, for investment purposes and not with a view to the sale or distribution of all or any part of the Consideration Shares, nor with any present intention to sell or in any way distribute the same, as those terms are used in the Securities Act of 1933, as amended (the "**Securities Act**"), and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) *Sufficient Knowledge.* The Contributor has sufficient knowledge and experience in financial matters so as to be capable of evaluating the merits and risks of the Consideration Shares. The Contributor has reviewed copies of such documents and other information as it has deemed necessary in order to make an informed investment decision with respect to its acquisition of the Consideration Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) *Transfer Restrictions.* The Contributor understands and agrees that the Consideration Shares may not be sold, transferred or otherwise disposed of without registration under the Securities Act or the availability of an exemption therefrom, and that in the absence of an effective registration statement covering the Consideration Shares or an available exemption from registration under the Securities Act, the Consideration Shares must be held indefinitely. Further, the Contributor understands and agrees and has the financial capability of assuming the economic risk of an investment in the Consideration Shares for an indefinite period of time. The Contributor has been advised by the Company that the Contributor will not be able to dispose of the Consideration Shares, or any interest therein, without first complying with the relevant provisions of the Securities Act and any applicable state securities laws. The Contributor understands and agrees that the provisions of Rule 144 promulgated under the Securities Act, permitting the routine sales of the securities of certain issuers subject to the terms and conditions thereof, are not currently, and may not hereafter be, available with respect to the Consideration Shares. The Contributor acknowledges that the Company is under no obligation to register the Consideration Shares or to furnish any information or take any other action to assist the undersigned in complying with the terms and conditions of any exemption which might be available under the Securities Act or any state securities laws with respect to sales of the Consideration Shares in the future. The Contributor is an "Accredited Investor" as defined in rule 501(a) of Regulation D of the Securities 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;(iv) *Non-Registration.* The Contributor understands that the Consideration Shares have not been registered under the Securities Act and, if issued in accordance with the provisions of this Agreement, will be issued by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Contributor's representations as expressed herein. The non-registration shall have no prejudice with respect to any rights, interests, benefits and entitlements attached to the Consideration Shares in accordance with the Company's memorandum and articles of association or the laws of its jurisdiction of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) *Restricted Securities.* The Contributor understands that the Consideration Shares are characterized as "restricted securities" under the Securities Act in as much as this Agreement contemplates that, if acquired by the Contributor pursuant hereto, the Consideration Shares would be acquired in a transaction not involving a public offering. The issuance of the Consideration Shares hereunder is being effected in reliance upon an exemption from registration afforded under Section 4(a)(2) of the Securities Act for transactions by an issuer not involving a public offering. The Contributor further acknowledges that if the Consideration Shares are issued to the Contributor in accordance with the provisions of this Agreement, such Consideration Shares may not be resold without registration under the Securities Act or the existence of an exemption therefrom. The Contributor represents that it is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities 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;(h) <u>Market Standoff</u>. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including an initial public offering of the Company, the Contributor agrees that it will not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Consideration Shares without the prior written consent of the Company or its managing underwriter. Such restriction shall be in effect for such period of time following the date of the final prospectus or registration statement for an offering as may be requested by the Company or such underwriter. In no event, however, shall such period exceed twelve (12) months plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst recommendations and opinions. The Contributor, in its capacity as a security holder of the Company as a result of its acceptance of the Consideration Shares, agrees to execute and deliver any lock up agreement required by the underwriter for an initial public offering of the Company and all other documents and instruments and take all other actions necessary in connection with any such lock up agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>The Contributors that are Not a United States Person</u>. If the Contributor is not a "U.S. Person," as such term is defined in Regulation S promulgated under the Securities Act, the Contributor hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Consideration Shares or any use of this Agreement, including (i) the legal requirements within its jurisdiction for the acceptance of the Consideration Shares, (ii) any foreign exchange restrictions applicable to such acceptance, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the acceptance, holding, redemption, sale, or transfer of the Consideration Shares. The Contributor's acquisition of and continued beneficial ownership of the Consideration Shares will not violate any applicable securities or other laws of Chile or the Cayman Islands.

&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) <u>Further Documentation.</u> The Contributor shall, upon request by the Company, provide any additional certificates or representations required to establish an exemption from applicable securities legislation prior to the issue or transfer of any Consideration Shares.

&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) <u>No Breach</u>. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not (i) violate, conflict with or result in the breach of any of the terms of, result in a material modification of, otherwise give any other contracting party the right to terminate, or constitute (or with notice or lapse of time or both constitute) a default under, any contract or other agreement to which the Contributor is a party or by or to which the Contributor or any of its assets or properties may be bound or subject or (ii) violate any order, judgment, injunction, award or decree of any court, arbitrator or governmental or regulatory body against, or binding upon the Contributor, or upon the properties or business of the Contributor.

&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) <u>Actions and Proceedings</u>. There is no action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility against or affecting the Contributor or any of its respective properties which adversely affects or challenges the legality, validity or enforceability of any of this Agreement or the Contributed Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

The Company hereby represents and warrants to the Contributors as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Incorporation, Standing and Power</u>. The Company is duly incorporated, validly existing and in good standing under the laws of the Cayman Islands and is entitled to own or lease its properties and to carry on its business as and in the places where such properties are now owned, leased, or operated and such business is now conducted. The Company is duly licensed or qualified and in good standing as a foreign corporation where the character of the properties owned by it or the nature of the business transacted by it make such licenses or qualifications necessary.

&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>Authority; Execution and Delivery; Enforceability</u>. The Company has all requisite corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby. The execution and delivery by the Company of this Agreement and the consummation by the Company of the contemplated transactions have been duly authorized and approved by the board of directors of the Company and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement and to consummate the transactions contemplated hereby. When executed and delivered, this Agreement will be enforceable against the Company 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;(c) <u>Capital Structure</u>. The authorized share capital of the Company is US$35,000, divided into 250,000,000 Class A Ordinary Shares, 50,000,000 Class B Ordinary Shares, and 50,000,000 preferred shares of a par value of US$0.0001 each (the "**Preferred Shares**"), of which 1 Class B Ordinary Share, and no Class A Ordinary Shares or Preferred Shares, are issued and outstanding prior to the date of this Agreement. Except as set forth above, no shares or other voting securities of the Company are issued, reserved for issuance or 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;(d) <u>No Breach</u>. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not (i) violate any provision of the memorandum and articles of association of the Company; (ii) violate, conflict with or result in the breach of any of the terms of, result in a material modification of, otherwise give any other contracting party the right to terminate, or constitute (or with notice or lapse of time or both constitute) a default under, any contract or other agreement to which the Company is a party or by or to which the Company or any of its assets or properties may be bound or subject; (iii) violate any order, judgment, injunction, award or decree of any court, arbitrator or governmental or regulatory body against, or binding upon the Company, or upon the properties or business of the Company; or (iv) violate any statute, law or regulation of any jurisdiction applicable to the transactions contemplated herein which could have a materially adverse effect on the business or operations 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;(e) <u>Actions and Proceedings</u>. There is no action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility against or affecting the Company or any of its respective properties which adversely affects or challenges the legality, validity or enforceability of any of this Agreement or the Consideration Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. 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) <u>Waivers</u>. Any waiver of any right under this Agreement is only effective if it is in writing and it applies only to the party to whom the waiver is addressed and to the circumstances for which it is given. The waiver of a breach of this Agreement or the failure of any party hereto to exercise any right under this Agreement shall in no event constitute waiver as to any future breach whether similar or dissimilar in nature or as to the exercise of any further right 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;(b) <u>Amendment</u>. This Agreement may be amended or modified only by an instrument of equal formality signed by the Company and the Contributors.

&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) <u>Assignment</u>. This Agreement is not assignable except by operation of 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) <u>Plural, Gender, etc</u>. Words signifying the singular number include the plural and vice versa, and words signifying gender include all genders.

&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>Notices</u>. Until otherwise specified in writing, the mailing and email addresses of the parties to this Agreement shall be as set forth on the signature pages to this Agreement. Any notice or statement given under this Agreement shall be deemed to have been given if sent by registered mail or email addressed to the other party at the address indicated above or at such other address which shall have been furnished in writing to the addressor.

&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) <u>Governing Law; Submission to Jurisdiction</u>. This Agreement and any disputes or claims arising out of, or in connection with, its subject matter or formation (including non-contractual disputes or claims) are governed by, and shall be construed in accordance with, the laws of the Cayman Islands. The parties irrevocably agree that the courts of the Cayman Islands shall have non-exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, this Agreement or its subject matter or formation (including non-contractual disputes or claims).

&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) <u>Publicity</u>. Except for any publication or other information requiring disclosure by any party as required under applicable securities laws or as part of an initial public offering of the Company or thereafter, no publicity release or announcement concerning this Agreement or the transactions contemplated hereby shall be issued by any party hereto at any time from the signing hereof without advance approval in writing of the form and substance thereof by the other party.

&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) <u>Entire Agreement</u>. This Agreement (including the exhibits hereto) contains the entire agreement among the parties with respect to its subject matter, and supersedes all prior agreements, written or oral, with respect 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;(i) <u>Headings</u>. The headings in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation 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;(j) <u>Severability of Provisions</u>. If any provision of this Agreement (or part of a provision) is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, that provision shall be ineffective to the extent of such invalidity, unenforceability or illegality but the other provisions shall remain in force. If any invalid, unenforceable or illegal provision would be valid, enforceable or legal if some part of it were deleted, the provision shall apply with the minimum modification necessary to make it legal, valid and enforceable.

&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) <u>Counterparts; Facsimile or Email Execution</u>. This Agreement may be executed in any number of counterparts, each of which when so executed, shall constitute an original copy hereof, but all of which together shall consider but one and the same document. Facsimile, email or other means of electronic transmission execution and delivery of this Agreement is legal, valid and binding for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Expenses</u>. Each party hereto agrees to pay its own costs and expenses incurred in negotiating this Agreement and consummating the transactions described 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;(m) <u>Further Assurances</u>. Each of the parties shall at its own cost execute such documents and other papers and take such further actions as may be required or desirable to carry out the provisions hereof or the transactions contemplated thereby. Each of the parties hereto understands and acknowledges that the transactions contemplated hereby are being effected in connection with a proposed firm commitment underwritten initial public offering (the "**Public Offering**") of the Company's Class A Ordinary Shares and each Contributor agrees to cooperate and facilitate such Public Offering, including by completing any required director and officer questionnaires, FINRA questionnaires or similar questionnaires, providing consents and background information to permit background checks to be conducted by the underwriter for the Public Offering, providing information to satisfy the underwriter's due diligence requirements, including the underwriter's know your client and anti-money laundering obligations and take all such similar action and providing all such similar information as may be requested by the Company or its underwriter in connection with the Public 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;(n) <u>Consent to Receive Notices by Electronic Transmission</u>. Each Contributor hereby consents to the delivery of any corporate notices relating to the Company by electronic transmission to their email address as set forth on the signature page to this Agreement for all purposes and to the fullest extent permitted by law.

[*Signature page follows*]

**IN WITNESS WHEREOF**, the parties have executed this Contribution Agreement on the date first above written.

---

| | |
|:---|:---|
| **Ticketplus Ltd.** | **Ticketplus Ltd.** |
| By: | /s/ Chien-Fu Chen Chen |
| Name: | Chien-Fu Chen Chen |
| Title: | Chief Executive Officer |

---

---

| |
|:---|
| Address: |
| Email: |

---

---

| |
|:---|
| **Yethro Dinamarca Santelices** |
| /s/ Yethro Dinamarca Santelices |
| Address: |
| Email: |
| **Chien-Fu Chen Chen** |
| /s/ Chien-Fu Chen Chen |
| Address: |
| Email: |
| **Sebastián Orellana Moreno** |
| /s/ Sebastian Orellana Moreno |
| Address: |
| Email: |

---

## Exhibit 3.1

**Exhibit 3.1**

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**MEMORANDUM OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

1. The
 name of the Company is Ticketplus Ltd.

2. The
 registered office of the Company will be at the offices of Mourant Governance Services (Cayman)
 Limited, 94 Solaris Avenue, Camana Bay, PO Box 1348, Grand Cayman KY1-1108, Cayman Islands
 or at such other place as the Directors may from time to time decide.

3. The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object not prohibited by law as provided by Section
 7(4) of the Companies Act.

4. The
 Company shall have and be capable of exercising all the functions of a natural person of
 full capacity irrespective of any question of corporate benefit as provided by Section 27(2)
 of the Companies Act.

5. Nothing
 in the preceding paragraphs shall be deemed to permit the Company to carry on the business
 of a bank or trust company without being licensed in that behalf under the provisions of
 the Banks and Trust Companies Act (as amended) or to carry on insurance business from within
 the Cayman Islands or the business of an insurance manager, agent, sub-agent or broker without
 being licensed in that behalf under the provisions of the Insurance Act (as amended), or
 to carry on the business of company management without being licensed in that behalf under
 the provisions of the Companies Management Act (as amended).

6. The
 Company will not trade in the Cayman Islands with any person, firm or corporation except
 in furtherance of the business of the Company carried on outside the Cayman Islands, provided
 that nothing in this Memorandum of Association shall be construed as to prevent the Company
 from effecting and concluding contracts in the Cayman Islands, and exercising in the Cayman
 Islands all of its powers necessary for the carrying on of business outside the Cayman Islands.

7. The
 liability of each member is limited to the amount from time to time unpaid on such member's
 shares.

8. The
 authorised share capital of the Company is US$35,000 divided into 250,000,000 Class A ordinary
 shares with a par value of US$0.0001 each, 50,000,000 Class B ordinary shares with a par
 value of US$0.0001 each and 50,000,000 preferred shares with a par value of US$0.0001 each,
 with the power for the Company, insofar as is permitted by law and the Articles, to redeem,
 purchase or redesignate any of its shares and to increase or reduce the said share capital
 subject to the Companies Act (as amended) and the Articles and to issue any part of its capital,
 whether original, redeemed or increased with or without any preference, priority or special
 privilege or subject to any postponement of rights or to any conditions or restrictions and
 so that unless the conditions of issue shall otherwise expressly declare every issue of shares
 whether declared to be preference or otherwise shall be subject to the powers hereinbefore
 contained.

9. The
 Company may exercise the power contained in Section 206 of the Companies Act to deregister
 in the Cayman Islands and be registered by way of continuation in another jurisdiction.

10. Capitalised
 terms that are not defined in this Memorandum bear the meanings given to those terms in the
 Articles.

We, the subscriber to this Memorandum, wish to form a company limited by shares pursuant to this Memorandum, and we agree to take the number of shares in the capital of the Company shown opposite our name.

Name and address of Subscriber Number of shares taken

Mourant Nominees (Cayman) Limited 94 Solaris Avenue Camana Bay PO Box 1348 Grand Cayman KY1-1108 CAYMAN ISLANDS One Class B ordinary share

---

| | | |
|:---|:---|:---|
|  | Mourant Nominees (Cayman) Limited<br> acting by: | Mourant Nominees (Cayman) Limited<br> acting by: |
|  | /s/ Kerri Ann Marquardt | /s/ Kerri Ann Marquardt |
|  | Name: | Kerri Ann Marquardt |
|  | Title: | Authorised Signatory |
|  | Witness to the above signature: | Witness to the above signature: |
|  | /s/ Marrio McKenzie | /s/ Marrio McKenzie |
|  | Name: | Marrio McKenzie |
|  | Address:<br> 94 Solaris Avenue<br> Camana Bay<br> PO Box 1348<br> Grand Cayman KY1-1108<br> CAYMAN ISLANDS<br> Occupation: Administrator/Secretary | Address:<br> 94 Solaris Avenue<br> Camana Bay<br> PO Box 1348<br> Grand Cayman KY1-1108<br> CAYMAN ISLANDS<br> Occupation: Administrator/Secretary |
| Date: 3<sup>rd</sup> December 2025 |  |  |

---

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

**<u>**TABLE OF CONTENTS**</u>**

---

| | |
|:---|:---|
| **ARTICLE** | **PAGE** |
| TABLE A | 1 |
| DEFINITIONS AND INTERPRETATION | 1 |
| COMMENCEMENT OF BUSINESS | 5 |
| SITUATION OF REGISTERED OFFICE | 5 |
| SHARES | 5 |
| RIGHTS ATTACHING TO THE CLASS A ORDINARY SHARES AND CLASS B ORDINARY SHARES | 6 |
| CLASS B ORDINARY SHARE CONVERSION RIGHTS | 6 |
| REDEMPTION, PURCHASE AND SURRENDER OF SHARES | 9 |
| TREASURY SHARES | 9 |
| MODIFICATION OF RIGHTS | 10 |
| SHARE CERTIFICATES | 10 |
| TRANSFER AND TRANSMISSION OF SHARES | 11 |
| LIEN | 12 |
| CALL ON SHARES | 13 |
| FORFEITURE OF SHARES | 13 |
| ALTERATION OF SHARE CAPITAL | 14 |
| GENERAL MEETINGS | 15 |
| NOTICE OF GENERAL MEETINGS | 15 |
| PROCEEDINGS AT GENERAL MEETINGS | 16 |
| VOTES OF SHAREHOLDERS | 17 |
| WRITTEN RESOLUTIONS OF SHAREHOLDERS | 18 |
| DIRECTORS | 18 |
| TRANSACTIONS WITH DIRECTORS | 20 |
| POWERS OF DIRECTORS | 21 |
| PROCEEDINGS OF DIRECTORS | 21 |
| WRITTEN RESOLUTIONS OF DIRECTORS | 23 |
| PRESUMPTION OF ASSENT | 23 |
| BORROWING POWERS | 23 |
| SECRETARY | 23 |
| THE SEAL | 23 |
| DIVIDENDS, DISTRIBUTIONS AND RESERVES | 24 |
| SHARE PREMIUM ACCOUNT | 25 |
| ACCOUNTS | 25 |
| AUDIT | 25 |
| NOTICES | 25 |
| WINDING UP AND FINAL DISTRIBUTION OF ASSETS | 26 |
| INDEMNITY | 27 |
| DISCLOSURE | 27 |
| CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE | 27 |
| REGISTRATION BY WAY OF CONTINUATION | 28 |
| FINANCIAL YEAR | 28 |
| AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION | 28 |
| CAYMAN ISLANDS DATA PROTECTION | 28 |

---

i

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

**TABLE A**

1. In
 these Articles, the regulations contained in Table A in the First Schedule to the Companies
 Act (as defined below) do not apply except insofar as they are repeated or contained in these
 Articles.

**DEFINITIONS AND INTERPRETATION**

2. In
 these Articles, the following words and expressions shall have the meanings set out below
 save where the context otherwise requires:

---

| | |
|:---|:---|
| **Articles** | these Articles of Association of the Company, as amended from time to time by Special Resolution; |
| **Auditors** | the auditor or auditors for the time being of the Company; |
| **Board of Directors** | the Directors assembled as a board or assembled as a committee appointed by that board; |
| **Companies Act** | the Companies Act (as amended); |
| **Class A Ordinary Share** | a Class A ordinary share with a par value of US$0.0001 each in the capital of the Company; |
| **Class B Ordinary Share** | a Class B ordinary share with a par value of US$0.0001 each in the capital of the Company; |
| **Class B Ordinary Shares Automatic Conversion Event** | an event wherein one or more Class B Ordinary Shares automatically convert(s) into one or more Class A Ordinary Shares pursuant to Article 23(b); |
| **Company** | the above-named company; |
| **Directors** | the directors of the Company for the time being; |
| **Electronic Record** | has the same meaning as in the Electronic Transactions Act; |
| **Electronic** **Transactions Act** | the Electronic Transactions Act (as amended); |
| **Immediate Family** | as to any natural person, such person's spouse or Spousal Equivalent, the lineal descendant or antecedent, brother, sister, nephew or niece, of such person or such person's spouse or Spousal Equivalent, or the spouse or Spousal Equivalent of any lineal descendant or antecedent, brother, sister, nephew or niece of such person, or such person's spouse or Spousal Equivalent, whether or not any of the above are adopted; |

---

---

| | |
|:---|:---|
| **Memorandum** | the Memorandum of Association of the Company, as amended and restated from time to time by Special Resolution; |
| **Ordinary Resolution** | a resolution: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) passed
by a simple majority of the votes of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by
proxy, at a general meeting and where a poll is taken regard shall be had in computing a majority to the number of votes to which each
Shareholder is entitled; 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;(b) approved
in writing by all of the Shareholders entitled to vote at a general meeting in one or more instruments each signed by one or more of
the Shareholders and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments,
if more than one, is executed;

---

| | |
|:---|:---|
| **paid up** | paid up as to the par value and any premium payable in respect of the issue of any Shares and includes credited as paid up; |
| **person** | any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having separate legal personality) or any of them as the context so requires; |
| **Preferred Shares** | the preferred shares with a par value of US$0.0001 each in the capital of the Company; |
| **Register of Members** | the register of Shareholders to be kept pursuant to these Articles; |
| **Registered Office** | the registered office of the Company for the time being; |
| **Seal** | the common seal of the Company including any duplicate seal; |
| **Secretary** | any person appointed by the Directors to perform any of the duties of the secretary of the Company, including a joint, assistant or deputy secretary; |
| **Share** | a share in the capital of the Company of any class (including, without limitation, a Class A Ordinary Share, a Class B Ordinary Share or a Preferred Share) including a fraction of such share; |
| **Shareholder** | any person registered in the Register of Members as the holder of Shares of the Company and, where two or more persons are so registered as the joint holders of such Shares, the person whose name stands first in the Register of Members as one of such joint holders; |
| **Share Premium Account** | the share premium account established in accordance with these Articles and the Companies Act; |
| **signed** | includes an electronic signature and a signature or representation of a signature affixed by mechanical means; |

---

---

| | |
|:---|:---|
| **Special Resolution** | has the same meaning as in the Companies Act, being a resolution:<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed
by a majority of not less than two-thirds of the votes cast at a general meeting of such Shareholders as, being entitled to do so, vote
in person or, where proxies are allowed, by proxy at a general meeting of which notice specifying the intention to propose the resolution
as a special resolution has been duly given and where a poll is taken regard shall be had in computing a majority to the number of votes
to which each Shareholder is entitled; 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;(b) approved
in writing by all of the Shareholders entitled to vote at a general meeting in one or more instruments each signed by one or more of
the Shareholders and the effective date of the special resolution so adopted shall be the date on which the instrument or the last of
such instruments, if more than one, is executed;

---

| | |
|:---|:---|
| **Spousal Equivalent** | any two natural persons if the relevant person and the related party are registered as "domestic partners" or the equivalent thereof under the laws of their country and/or state of residence or any other law having similar effect, or where all the following conditions are met: (a) irrespective of whether or not the relevant person and the Spousal Equivalent are the same sex, they are the sole spousal equivalent of the other for the last twelve (12) months, (b) they intend to remain so indefinitely, (c) neither are married to anyone else, (d) both are at least eighteen (18) years of age and mentally competent to consent to contract, (e) they are not related by blood to a degree of closeness that which would prohibit legal marriage in the state in which they legally reside, (f) they are jointly responsible for each other's common welfare and financial obligations, and (g) they reside together in the same residence for the last twelve (12) months and intend to do so indefinitely; |
| **Transfer** | in respect of a Class B Ordinary Share (the **Transferred Share**), any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law. A Transfer shall also include, without limitation, a transfer of a Transferred Share to a broker or other nominee (regardless of whether or not there is a corresponding change in beneficial ownership), or the transfer of, or entering into a binding agreement with respect to, Voting Control over a Transferred Share by proxy or otherwise; provided, however, that the following shall not constitute a Transfer: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
granting of a proxy to officers or directors of the Company at the request or approval of the Board of Directors in connection with actions
to be taken at an annual or extraordinary general meeting of Shareholders or by written resolution of Shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
transfer of one or more Transferred Shares (i) by gift or pursuant to a domestic relations order from a holder of Transferred Shares
to such holder's Immediate Family or (ii) to a trust or trusts for the exclusive benefit of such holder or such holder's
Immediate Family for no 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
transfer of one or more Transferred Shares effected pursuant to the holder's will or the laws of intestate succession;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) as
to any holder that is a trust established for the exclusive benefit of a prior holder of Transferred Shares or such prior holder's
Immediate Family, the transfer of one or more Transferred Shares to the prior holder or such prior holder's Immediate Family for
no 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
granting of a repurchase right to the Company pursuant to an agreement wherein the Company has the right or option to purchase or to
repurchase Transferred Shares; provided, however, that the Company's purchase or repurchase of such Transferred Shares pursuant
to the exercise of such right or option shall constitute a Transfer; 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;(f) upon
the request of the transferor, any transfer approved by a majority of the disinterested members of the Board of Directors, even though
the disinterested Directors be less than a quorum, or if there are not any disinterested members on the Board of Directors, the entire
Board of Directors;

---

| | |
|:---|:---|
| **Treasury Shares** | Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the Company and not cancelled; and |
| **Voting Control** | in respect of a Class B Ordinary Share, the power (whether exclusive or shared) to vote or direct the voting of such Class B Ordinary Share by proxy, voting agreement or otherwise. |

---

3. In
 these Articles, unless there be something in the subject or context inconsistent with such
 construction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing a gender shall include other genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words
 importing persons only shall include companies, partnerships, trusts or associations or bodies
 of persons, whether corporate or not;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 word "may" shall be construed as permissive and the word "shall"
 shall be construed as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 word "year" shall mean calendar year, the word "quarter" shall mean
 calendar quarter and the word "month" shall mean calendar month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a
 reference to a "dollar" or "$" is a reference to the legal currency
 of the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the
 words "including", "include", "in particular" or any
 similar expression are to be construed without limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a
 reference to any enactment includes a reference to any modification or re-enactment thereof
 for the time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a
 reference to any meeting (whether of the Directors, a committee appointed by the Board of
 Directors or the Shareholders or any class of Shareholders) includes any adjournment of that
 meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Sections
 8 and 19 of the Electronic Transactions Act shall not apply; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) a
 reference to "written" or "in writing" includes a reference to all
 modes of representing or reproducing words in visible form, including in the form of an Electronic
 Record.

4. Subject
 to the two preceding Articles, any words defined in the Companies Act shall, if not inconsistent
 with the subject or context, bear the same meaning in these Articles.

5. The
 table of contents to, and the headings in, these Articles are for convenience of reference
 only and are to be ignored in construing these Articles.

**COMMENCEMENT OF BUSINESS**

6. The
 business of the Company may be commenced as soon after incorporation as the Board of Directors
 shall see fit.

**SITUATION OF REGISTERED OFFICE**

7. The
 Registered Office shall be at such address in the Cayman Islands as the Directors shall from
 time to time determine. The Company, in addition to the Registered Office, may establish
 and maintain such other offices and places of business and agencies in such places as the
 Directors may from time to time determine.

**SHARES**

8. The
 Directors may impose such restrictions as they think necessary on the offer and sale of any
 Shares.

9. Subject
 to the provisions, if any, in the Memorandum, these Articles, and applicable law, without
 prejudice to any rights attached to any existing Shares, all Shares for the time being unissued
 shall be under the control of the Directors who may allot, issue, grant options over or otherwise
 dispose of Shares (including fractions of a Share) with or without preferred, deferred or
 other rights or restrictions, whether in regard to dividend, voting, return of capital or
 otherwise and to such persons, at such times and on such other terms as they think proper,
 and may also (subject to the Companies Act and these Articles) vary such rights, and for
 such purposes the Directors may reserve an appropriate number of Shares for the time being
 unissued. No Share may be issued at a discount except in accordance with the Companies Act.

10. The
 Company may issue rights, options, warrants or convertible securities or securities of a
 similar nature conferring the right upon the holders thereof to subscribe for, purchase or
 receive any class of Shares or other securities in the Company, upon such terms as the Directors
 may from time to time determine, and for such purposes the Directors may reserve an appropriate
 number of Shares for the time being unissued.

11. Subject
 to Article 33, the Directors, or the Shareholders by Ordinary Resolution, may authorise the
 division of Shares into any number of classes and sub-classes and series and sub-series and
 the different classes and sub-classes and series and sub-series shall be authorised, established
 and designated (or re-designated as the case may be) and the variations in the relative rights
 (including, without limitation, voting, dividend and redemption rights), restrictions, preferences,
 privileges and payment obligations as between the different classes and series (if any) may
 be fixed and determined by the Directors or the Shareholders by Ordinary Resolution.

12. No
 Share may be issued at a discount except in accordance with the Companies Act.

13. The
 Directors may in their absolute discretion refuse to accept any application for Shares and
 may accept any application in whole or in part.

14. The
 Company may on any issue of Shares deduct any sales charge or subscription fee from the amount
 subscribed for the Shares.

15. No
 person shall be recognised by the Company as holding any Share upon any trust, and the Company
 shall not be bound by or recognise (even when having notice thereof) any equitable, contingent,
 future or partial interest in any Share, or (except as otherwise provided by these Articles
 or as required by law) any other right in respect of any Share except an absolute right thereto
 in the registered holder, provided that, notwithstanding the foregoing, the Company shall
 be entitled to recognise any such interests as shall be determined by the Directors.

16. The
 Directors shall keep or cause to be kept a Register of Members as required by the Companies
 Act at such place or places as the Directors may from time to time determine. In the absence
 of any such determination, the Register of Members shall be kept at the Registered Office.

17. The
 Directors in each year shall prepare or cause to be prepared an annual return and declaration
 setting forth the particulars required by the Companies Act in respect of exempted companies
 and deliver a copy thereof to the Registrar of Companies in the Cayman Islands.

18. The
 Company shall not issue Shares to bearer.

19. The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, calls or otherwise howsoever), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the foregoing generality,
 voting and participation rights) and other attributes of a Share. If more than one fraction
 of a Share is issued to or acquired by the same Shareholder, such fractions shall be accumulated.

20. The
 premium arising on all issues of Shares shall be held in the Share Premium Account established
 in accordance with these Articles.

21. Payment
 for Shares shall be made at such time and place and to such person on behalf of the Company
 as the Directors may from time to time determine. Payment for any Shares shall be made in
 such currency as the Directors may determine from time to time, provided that the Directors
 shall have the discretion to accept payment in any other currency or in kind or a combination
 of cash and in kind.

**RIGHTS ATTACHING TO THE CLASS A ORDINARY SHARES AND CLASS B ORDINARY SHARES**

22. Except
 as expressly provided in these Articles or required by law, Class A Ordinary Shares and Class
 B Ordinary Shares shall rank *pari passu* in all respects with one another, shall have
 the same rights, preferences, privileges and restrictions, and shall vote together as a single
 class on all matters.

**CLASS B ORDINARY SHARE Conversion Rights**

23. The
 holders of the Class B Ordinary Shares shall have the following conversion rights:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Right to convert**. Each Class B Ordinary Share shall be convertible, at the option of the holder
 thereof, at any time after the date of issuance of such Share, by giving written notice in
 accordance with this Article 23 and without the payment of additional consideration by the
 holder thereof, into one (1) fully paid Class A Ordinary Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Compulsory automatic conversion**. Each Class B Ordinary Share shall automatically, without any further
 action, convert into one (1) fully paid Class A Ordinary Share upon a Transfer of such Share;
 provided, however, that if a holder of Class B Ordinary Shares Transfers any Class B Ordinary
 Shares to another holder of Class B Ordinary Shares, then such Transfer will not constitute
 a Class B Ordinary Share Automatic Conversion Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Mechanics of conversion**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Surrender of certificates*. Before any holder of Class B Ordinary Shares shall be entitled to convert
 Class B Ordinary Shares into Class A Ordinary Shares:

&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) unless
 no such certificates have been issued by the Company, the holder shall either (1) surrender
 the certificate or certificates therefor (if any), at the Registered Office, the office of
 any transfer agent for such Shares, or otherwise as specified by the Directors from time
 to time or (2) notify the Company or its transfer agent that such certificates have been
 lost, stolen or destroyed and execute an agreement satisfactory to the Company to indemnify
 the Company from any loss incurred by it in connection with such certificates; 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;(2) the
 holder shall give written notice to the Company at its principal corporate office, the Registered
 Office, or otherwise as specified by the Directors from time to time, of the election to
 convert the same and shall state therein the name or names in which the Class A Ordinary
 Shares are to be registered;

provided, however, that on the date of a Class B Ordinary Shares Automatic Conversion Event, the outstanding Class B Ordinary Shares subject to such Class B Ordinary Shares Automatic Conversion Event shall be converted automatically without any further action by the holder of such shares and whether or not the certificates representing such Shares (if any) are surrendered pursuant to this Article 23; provided further, however, that the Company shall not be obligated to issue certificates evidencing the Class A Ordinary Shares issuable upon such Class B Ordinary Shares Automatic Conversion Event (even if such the Directors have determined to issue share certificates pursuant to these Articles) unless either the certificates evidencing such Class B Ordinary Shares (if any) are delivered as provided above, or the holder notifies the Company or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such certificates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Conversion date*. In the event that a holder of Class B Ordinary Shares elects to convert such Shares
 pursuant to Article 23(a), the conversion shall be deemed to have been made immediately prior
 to the close of business on the date the requirements of Article 23(c)(i) are satisfied,
 as determined by the Board of Directors in its sole discretion, in respect of the Class B
 Ordinary Shares to be converted. In the event of a Class B Ordinary Shares Automatic Conversion
 Event, such conversion shall be deemed to have been made at the time that the Transfer of
 such shares occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Status as Shareholder*. On the date of a conversion pursuant to this Article 23, all rights of
 the holder of the applicable Class B Ordinary Shares shall cease and the holder or holders
 in whose name the Class A Ordinary Shares are to be registered shall be treated for all purposes
 as having become the record holder of such Class A Ordinary Shares, notwithstanding that
 the certificates representing such Class B Ordinary Shares (if any) shall not have been surrendered
 in accordance with this Article 23, that notice from the Company shall not have been received
 by any holder of record of Class B Ordinary Shares, or that the certificates evidencing such
 Class A Ordinary Shares shall not then be actually delivered to such holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *Delivery of share certificates*. Subject to Article 24, in the event of a conversion pursuant to
 this Article 23, the Company shall, as soon as practicable after, issue and deliver to such
 holder of Class B Ordinary Shares, or to the nominee of such holder, a certificate for the
 number of Class A Ordinary Shares to which such holder shall be entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Administration.** The Directors may, from time to time, establish such policies and procedures relating to
 the conversion of Class B Ordinary Shares into Class A Ordinary Shares and the general administration
 of the dual class Share structure, including the issuance of share certificates with respect
 thereto, as the Directors may deem necessary or advisable, and may request that holders of
 Class B Ordinary Shares furnish affidavits or other proof to the Company as the Directors
 deem necessary to verify the ownership of Class B Ordinary Shares and to confirm that a conversion
 to Class A Ordinary Shares has not occurred, provided, however, that such policies and procedures
 shall not inhibit the ability of a holder to convert Class B Ordinary Shares to Class A Ordinary
 Shares. A determination by the Directors that a Transfer results in a conversion to Class
 A Ordinary Shares shall be conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Reservation of Shares issuable upon Conversion.** The Company shall at all times reserve and keep available
 out of its authorised but unissued Class A Ordinary Shares, solely for the purpose of effecting
 the conversion of the Class B Ordinary Shares pursuant to this Article 23, such number of
 Class A Ordinary Shares as shall from time to time be sufficient to effect the conversion
 of all outstanding Class B Ordinary Shares; and if at any time the number of authorised but
 unissued Class A Ordinary Shares shall not be sufficient to effect the conversion of all
 then outstanding Class B Ordinary Shares, in addition to such other remedies as shall be
 available to the holder of such Class B Ordinary Shares, the Directors will procure that
 the Company will take such corporate action as may, in the opinion of the Company's
 counsel, be necessary to increase the Company's authorised but unissued Class A Ordinary
 Shares to such number of Shares as shall be sufficient for such purposes, including, without
 limitation, engaging in best efforts to obtain the requisite Shareholder approval of the
 Memorandum and/or these Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Notices**.
 Any notice required by the provisions of this Article 23 to be given to the Shareholders
 shall be deemed given if served pursuant to Articles 149 to 155.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Status of converted Shares.** In the event any Class B Ordinary Shares shall be converted pursuant
 to this Article 23, the Class B Ordinary Shares so converted shall be cancelled and shall
 not be issuable by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **Adjustments to conversion ratio.** The foregoing conversion ratio for Class B Ordinary Shares shall
 be adjusted to account for any subdivision (by share split, subdivision, exchange, capitalisation,
 rights issue, reclassification, recapitalisation or otherwise) or combination (by reverse
 share split, share consolidation, exchange, reclassification, recapitalisation or otherwise)
 or similar reclassification or recapitalisation of the Class A Ordinary Shares in issue into
 a greater or lesser number of shares occurring after the adoption of these Articles without
 a proportionate and corresponding subdivision, combination or similar reclassification or
 recapitalisation of the Class B Ordinary Shares in issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Defined terms.** References in this Article 23 to **converted**, **convert**, **conversion** or **exchange** shall mean the compulsory redemption without notice of Class B Ordinary
 Shares of the applicable Shareholder(s) and, on behalf of such Shareholder(s), automatic
 application of such redemption proceeds in paying for such new Class A Ordinary Shares into
 which the Class B Ordinary Shares have been converted or exchanged at a price per Class B
 Ordinary Share necessary to give effect to a conversion or exchange calculated on the basis
 that the Class A Ordinary Shares to be issued as part of the conversion or exchange will
 be issued at par. The Class A Ordinary Shares to be issued on an exchange or conversion shall
 be registered in the name of each such Shareholder or in such name as the Shareholder may
 direct.

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

24. Subject
 to the Companies Act, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares on terms that they are to be redeemed or are liable to be redeemed at the option of
 the Company and/or the Shareholder on such terms and in such manner as the Directors may,
 before the issue of such Shares, determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) on such terms and in such manner as the
 Directors may determine and agree with the Shareholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 a payment in respect of the redemption or purchase of Shares in any manner authorised by
 the Companies Act, including out of its capital, profits or the proceeds of a fresh issue
 of Shares.

25. Unless
 the Directors determine otherwise, any Share in respect of which notice of redemption has
 been given shall not be entitled to participate in the profits of the Company in respect
 of the period after the date specified as the date of redemption in the notice of redemption.

26. The
 redemption or purchase of any Share shall not be deemed to give rise to the redemption or
 purchase of any other Share.

27. The
 Directors may when making payments in respect of a redemption or purchase of Shares, if authorised
 by the terms of issue of the Shares being redeemed or purchased or with the agreement of
 the holder of such Shares, make such payment either in cash or in specie.

28. Subject
 to the Companies Act, the Company may accept the surrender for no consideration of any fully
 paid Share (including any redeemable Share) on such terms and in such manner as the Directors
 may determine.

**TREASURY SHARES**

29. Shares
 that the Company purchases, redeems or acquires (by way of surrender or otherwise) may, at
 the option of the Company, be cancelled immediately or held as Treasury Shares in accordance
 with the Companies Act. In the event that the Directors do not specify that the relevant
 Shares are to be held as Treasury Shares, such Shares shall be cancelled.

30. No
 dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Shareholders on a
 winding up) may be declared or paid in respect of a Treasury Share.

31. The
 Company shall be entered in the Register of Members as the holder of the Treasury Shares,
 provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company shall not be treated as a Shareholder for any purpose and shall not exercise any
 right in respect of the Treasury Shares, and any purported exercise of such a right shall
 be void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company
 and shall not be counted in determining the total number of issued Shares at any given time,
 whether for the purposes of these Articles or the Companies Act, save that an allotment of
 Shares as fully paid bonus shares in respect of Treasury Shares is permitted and Shares allotted
 as fully paid bonus shares in respect of Treasury Shares shall be treated as Treasury Shares.

32. Treasury
 Shares may be disposed of by the Company on any terms and conditions determined by the Directors.

**MODIFICATION OF RIGHTS**

33. If
 at any time the share capital of the Company is divided into different classes of Shares,
 the rights attached to any class (unless otherwise provided by the terms of issue of the
 Shares of that class) may, whether or not the Company is being wound up, be varied or abrogated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by,
 or with the approval of, the Directors without the consent of the holders of the Shares of
 that class if the Directors determine that the variation or abrogation is not materially
 adverse to the interests of those Shareholders; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise
 only with the consent in writing of the holders of at least two-thirds of the issued Shares
 of that class or with the sanction of a resolution passed by a majority of at least two-thirds
 of the votes cast at a separate meeting of the holders of the Shares of that class (subject
 to any rights or restrictions attached to those Shares).

34. The
 provisions of these Articles relating to general meetings shall apply, *mutatis mutandis*,
 to every class meeting of the holders of one class of Shares, except that the necessary quorum
 shall be one or more Shareholders holding or representing by proxy at least twenty (20) per
 cent of the total voting rights of the issued Shares of that class and that any holder of
 Shares of that class present in person or by proxy may demand a poll.

35. For
 the purposes of Articles 33 and 34, the Directors may treat all classes of Shares, or any
 two classes of Shares, as forming a single class if they consider that each class would be
 affected in the same way by the proposal or proposals under consideration. In any other case,
 the Directors shall treat all classes of Shares, or any two classes of Shares, as separate
 classes.

36. The
 rights of the holders of the Shares of any class shall not, where those Shares were issued
 with preferred or other rights, be deemed to be materially adversely varied or abrogated
 by the creation or issue of further Shares ranking equally with those Shares or the redemption
 or purchase of Shares of any other class by the Company (subject to any rights or restrictions
 attached to those Shares).

**SHARE CERTIFICATES**

37. The
 Shares will be issued in fully registered, book-entry form. A Shareholder shall only be entitled
 to a share certificate if the Directors resolve that share certificates shall be issued.
 Share certificates representing Shares, if any, shall be in such form as the Directors may
 determine. Share certificates shall be signed by one or more Directors or other person(s)
 authorised by the Directors. The Directors may authorise certificates to be issued with the
 authorised signature(s) affixed by mechanical process. All certificates for Shares shall
 be consecutively numbered or otherwise identified and shall specify the Shares to which they
 relate. All certificates surrendered to the Company for transfer shall be cancelled and,
 subject to these Articles, no new certificate shall be issued until the former certificate
 representing a like number of relevant Shares shall have been surrendered and cancelled.

38. If
 a share certificate is defaced, worn out lost or destroyed it may be renewed on payment of
 such fee, if any, and on such terms if any, as to evidence and obligations to indemnify the
 Company as the Board of Directors may determine and (in the case of defacement or wearing
 out) upon delivery of the old certificate.

39. Every
 share certificate sent in accordance with these Articles will be sent at the risk of the
 Shareholder or other person entitled to the certificate. The Company will not be responsible
 for any share certificate lost or delayed in the course of delivery.

40. In
 the event that Shares are held jointly by several persons, any request may be made by any
 one of the joint holders and if so made shall be binding on all of the joint holders.

41. Every
 share certificate of the Company shall bear legends required under applicable law, including
 the Securities Act and/or US Exchange Act.

**TRANSFER AND TRANSMISSION OF SHARES**

42. No
 transfer of Shares shall be permitted without the consent of the Directors, which may be
 withheld for any or no reason but may include any transfer which in the opinion of the Directors
 is not or may not be consistent with any representation or warranty that the transferor of
 the Shares may have given to the Company, may result in Shares being held by any person in
 breach of the laws of any country or government authority, or may subject the Company or
 Shareholders to adverse tax or regulatory consequences under the laws of any country.

43. All
 transfers of Shares shall be effected by an instrument of transfer in writing in any usual
 or common form in use in the Cayman Islands or in any other form approved by the Directors
 and need not be under seal.

44. The
 instrument of transfer must be executed by or on behalf of the transferor. The instrument
 of transfer must be accompanied by such evidence as the Directors may reasonably require
 to show the right of the transferor to make the transfer and the transferor is deemed to
 remain the holder until the transferee's name is entered in the Register of Members.
 The instrument of transfer must be completed and signed in the exact name or names in which
 such Shares are registered, indicating any special capacity in which it is being signed with
 relevant details supplied to the Company.

45. The
 Directors shall not recognise any transfer of Shares unless the instrument of transfer is
 deposited at the Registered Office or such other place as the Directors may reasonably require
 for the Shares to which it relates, together with such other evidence as the Directors may
 reasonably require to show the right of the transferor to make the transfer.

46. The
 registration and transfer of Shares may be suspended at such times and for such periods as
 the Directors may from time to time determine.

47. All
 instruments of transfer which are registered shall be retained by the Company, but any instrument
 of transfer which the Directors may decline to register shall (except in any case of fraud)
 be returned to the person depositing the same.

48. In
 case of the death of a Shareholder, the survivors or survivor (where the deceased was a joint
 holder) and the executors or administrators of the deceased where the deceased was the sole
 or only surviving holder, shall be the only persons recognised by the Company as having title
 to the deceased's interest in the Shares, but nothing in this Article shall release
 the estate of the deceased holder whether sole or joint from any liability in respect of
 any Share solely or jointly held by the deceased.

49. Any
 guardian of an infant Shareholder and any curator or other legal representative of a Shareholder
 under legal disability and any person entitled to a share in consequence of the death or
 bankruptcy of a Shareholder shall, upon producing such evidence of title as the Directors
 may require, have the right either to be registered as the holder of the Share or to make
 such transfer thereof as the deceased or bankrupt Shareholder could have made, but the Directors
 shall in either case have the same right to refuse or suspend registration as they would
 have had in the case of a transfer of the Shares by the infant or by the deceased or bankrupt
 Shareholder before the death or bankruptcy or by the Shareholder under legal disability before
 such disability.

50. A
 person so becoming entitled to a Share in consequence of the death or bankruptcy of a Shareholder
 shall have the right to receive and may give a discharge for all dividends and other money
 payable or other advantages due on or in respect of the Share, but such person shall not
 be entitled to receive notice of or to attend or vote at meetings of the Company, or save
 as aforesaid, to any of the rights or privileges of a Shareholder unless and until such person
 shall be registered as a Shareholder in respect of the Share, provided always that the Directors
 may at any time give notice requiring any such person to elect either to be registered or
 to transfer the Share and if the notice is not complied with within ninety (90) days the
 Directors may thereafter withhold all dividends or other monies payable or other advantages
 due in respect of the Share until the requirements of the notice have been complied with.

**LIEN**

51. The
 Company shall have a first and paramount lien on all Shares (whether fully paid-up or not)
 registered in the name of a Shareholder (whether solely or jointly with others) for all debts,
 liabilities or engagements to or with the Company (whether presently payable or not) by such
 Shareholder or the Shareholder's estate, either alone or jointly with any other person,
 whether a Shareholder or not, but the Directors may at any time declare any Share to be wholly
 or in part exempt from the provisions of this Article. The registration of a transfer of
 any such Share shall operate as a waiver of the Company's lien thereon. The Company's
 lien on a Share shall also extend to any amount payable in respect of that Share.

52. The
 Company may sell, in such manner as the Directors think fit, any Shares on which the Company
 has a lien, if a sum in respect of which the lien exists is presently payable, and is not
 paid within fourteen (14) clear days after notice has been given to the holder of the Shares,
 or to the person entitled to it in consequence of the death or bankruptcy of the holder,
 demanding payment and stating that if the notice is not complied with the Shares may be sold.

53. To
 give effect to any such sale the Directors may authorise any person to execute an instrument
 of transfer of the Shares sold to, or in accordance with the directions of, the purchaser.
 The purchaser or the purchaser's nominee shall be registered as the holder of the Shares
 comprised in any such transfer, and the purchaser shall not be bound to see to the application
 of the purchase money, nor shall the purchaser's title to the Shares be affected by
 any irregularity or invalidity in the sale or the exercise of the Company's power of
 sale under these Articles.

54. The
 net proceeds of such sale, after payment of costs, shall be applied in payment of such part
 of the amount in respect of which the lien exists as is presently payable and any residue
 shall (subject to a like lien for sums not presently payable as existed upon the Shares before
 the sale) be paid to the person entitled to the Shares at the date of the sale.

**CALL ON SHARES**

55. Subject
 to the terms of the allotment the Directors may from time to time make calls upon the Shareholders
 in respect of any monies unpaid on their Shares (whether in respect of par value or premium),
 and each Shareholder shall (subject to receiving at least fourteen (14) days' notice
 specifying the time or times of payment) pay to the Company at the time or times so specified
 the amount called on the Shares. A call may be revoked or postponed as the Directors may
 determine. A call may be required to be paid by instalments. A person upon whom a call is
 made shall remain liable for calls made upon them notwithstanding the subsequent transfer
 of the Shares in respect of which the call was made.

56. A
 call shall be deemed to have been made at the time when the resolution of the Directors authorising
 such call was passed.

57. The
 joint holders of a Share shall be jointly and severally liable to pay all calls in respect
 thereof.

58. If
 a call remains unpaid after it has become due and payable, the person from whom it is due
 shall pay interest on the amount unpaid from the day it became due and payable until it is
 paid at such rate as the Directors may determine, but the Directors may waive payment of
 the interest wholly or in part.

59. An
 amount payable in respect of a Share on allotment or at any fixed date, whether on account
 of the par value of the Share or premium or otherwise, shall be deemed to be a call and if
 it is not paid all the provisions of these Articles shall apply as if that amount had become
 due and payable by virtue of a call.

60. The
 Directors may issue Shares with different terms as to the amount and times of payment of
 calls, or the interest to be paid.

61. The
 Directors may, if they think fit, receive an amount from any Shareholder willing to advance
 all or any part of the monies uncalled and unpaid upon any Shares held by such Shareholder,
 and may (until the amount would otherwise become payable) pay interest at such rate as may
 be agreed upon between the Directors and the Shareholder paying such amount in advance.

62. No
 such amount paid in advance of calls shall entitle the Shareholder paying such amount to
 any portion of a dividend declared in respect of any period prior to the date upon which
 such amount would, but for such payment, become payable.

**FORFEITURE OF SHARES**

63. If
 a call remains unpaid after it has become due and payable the Directors may give to the person
 from whom it is due not less than fourteen (14) clear days' notice requiring payment
 of the amount unpaid together with any interest which may have accrued. The notice shall
 specify where payment is to be made and shall state that if the notice is not complied with
 the Shares in respect of which the call was made will be liable to be forfeited.

64. If
 the notice is not complied with any Share in respect of which it was given may, before the
 payment required by the notice has been made, be forfeited by a resolution of the Directors.
 Such forfeiture shall include all dividends or other monies declared payable in respect of
 the forfeited Share and not paid before the forfeiture.

65. A
 forfeited Share may be sold, re-allotted or otherwise disposed of on such terms and in such
 manner as the Directors think fit and at any time before a sale, re-allotment or disposition
 the forfeiture may be cancelled on such terms as the Directors think fit. Where for the purposes
 of its disposal a forfeited Share is to be transferred to any person the Directors may authorise
 some person to execute an instrument of transfer of the Share in favour of that person.

66. A
 person any of whose Shares have been forfeited shall cease to be a Shareholder in respect
 of them and shall surrender to the Company for cancellation the certificate for the Shares
 forfeited and shall remain liable to pay to the Company all monies which at the date of forfeiture
 were payable by such person to the Company in respect of those Shares together with interest,
 but such person's liability shall cease if and when the Company shall have received
 payment in full of all monies due and payable by such person in respect of those Shares.

67. A
 certificate in writing under the hand of one Director or officer of the Company that a Share
 has been forfeited on a specified date shall be conclusive evidence of the fact as against
 all persons claiming to be entitled to the Share. The certificate shall (subject to the execution
 of any instrument of transfer) constitute a good title to the Share and the person to whom
 the Share is disposed of shall not be bound to see to the application of the purchase money,
 if any, nor shall such person's title to the Share be affected by any irregularity
 or invalidity in the proceedings in reference to the forfeiture, sale or disposal of the
 Share.

68. The
 provisions of these Articles as to forfeiture shall apply in the case of non-payment of any
 sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on
 account of the par value of the Share or by way of premium as if it had been payable by virtue
 of a call duly made and notified.

**ALTERATION OF SHARE CAPITAL**

69. The
 Company may from time to time by Ordinary Resolution increase its share capital by such sum
 to be divided into Shares of such amounts as the resolution shall prescribe.

70. All
 new Shares shall be subject to the provisions of these Articles with reference to transfer,
 transmission and otherwise.

71. Subject
 to the Companies Act, the Company may by Special Resolution from time to time reduce its
 share capital in any way, and in particular, without prejudice to the generality of the foregoing
 power, may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cancel
 any paid-up share capital which is lost, or which is not represented by available assets;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay
 off any paid-up share capital which is in excess of the requirements of the Company,

and may, if and so far as is necessary, alter the Memorandum by reducing the amounts of its share capital and of its Shares accordingly.

72. The
 Company may from time to time by Ordinary Resolution alter (without reducing) its share capital
 by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consolidating
 and dividing all or any of its share capital into Shares of larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) sub-dividing
 its Shares, or any of them, into Shares of smaller amount than that fixed by the Memorandum
 so, however, that in the sub-division the proportion between the amount paid and the amount,
 if any, unpaid on each reduced Share shall be the same as it was in the case of the Share
 from which the reduced Share is derived; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) cancelling
 any Shares which, at the date of the passing of the Ordinary Resolution, have not been taken,
 or agreed to be taken by any person, and diminishing the amount of its authorised share capital
 by the amount of the Shares so cancelled.

**GENERAL MEETINGS**

73. The
 Directors may proceed to convene a general meeting whenever they think fit, including, without
 limitation, for the purposes of considering a liquidation of the Company, and they shall
 convene a general meeting on the requisition of the Shareholders holding at the date of the
 deposit of the requisition not less than one-half of the total voting rights attached to
 the issued Shares that as at the date of the deposit carry the right of voting at general
 meetings.

74. The
 requisition:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) must
 be in writing and state the objects of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) must
 be signed by each requisitionist and deposited at the Registered Office; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) may
 consist of several documents in like form each signed by one or more requisitionists.

75. If
 the Directors do not within ten (10) days from the date of the deposit of the requisition
 duly proceed to convene a general meeting, the requisitionists, or any of them representing
 more than one-half of the total voting rights of all of them, may themselves convene a general
 meeting, but any meeting so convened shall not be held after the expiration of three months
 after the expiration of the said ten (10) days.

76. A
 general meeting convened as aforesaid by requisitionists shall be convened in the same manner
 as nearly as possible as that in which general meetings are convened by the Directors. A
 general meeting may be convened in the Cayman Islands or at such other location, as the Directors
 think fit.

**NOTICE OF GENERAL MEETINGS**

77. Five
 (5) calendar days' notice at least specifying the place, the day and the hour of any
 general meeting and the general nature of the business to be conducted at the general meeting,
 shall be given in the manner hereinafter mentioned to such persons as are under these Articles
 or the conditions of issue of the Shares held by them entitled to receive notices from the
 Company. If the Directors determine that prompt Shareholder action is advisable, they may
 shorten the notice period for any general meeting to such period as the Directors consider
 reasonable.

78. A
 general meeting shall, notwithstanding that it is called by shorter notice than that specified
 in the preceding Article, be deemed to have been duly called with regard to the length of
 notice if it is so agreed by all the Shareholders entitled to attend and vote thereat.

79. In
 every notice calling a general meeting, there shall appear with reasonable prominence a statement
 that a Shareholder entitled to attend and vote either (i) is entitled to appoint one or more
 proxies to attend such meeting and vote instead of such Shareholder and that a proxy need
 not also be a Shareholder or (ii) has appointed a proxy who, unless such appointment is revoked,
 will attend such meeting and vote on behalf of such Shareholder.

80. The
 accidental omission to give notice to, or the non-receipt of notice by, any person entitled
 to receive notice shall not invalidate the proceedings at any general meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

81. No
 business shall be transacted at any general meeting unless a quorum is present. Save as otherwise
 provided in these Articles a quorum shall be the presence, in person or by proxy, of one
 or more persons holding at least twenty (20) per cent of the total voting rights of the issued
 Shares which confer the right to attend and vote thereat.

82. Save
 as otherwise provided for in these Articles, if within half an hour from the time appointed
 for the meeting a quorum is not present, the meeting, if convened on the requisition of or
 by Shareholders, shall be dissolved. In any other case it shall stand adjourned to the same
 day in the next week, at the same time and place or to such other day and at such other time
 and place as the Directors may determine and if at such adjourned meeting a quorum is not
 present within fifteen (15) minutes from the time appointed for holding the meeting, the
 Shareholders present shall be a quorum.

83. A
 person may, with the consent of the Directors, participate at a general meeting by means
 of telephone, video or similar communication equipment by way of which all persons participating
 in such meeting can hear each other and such participation shall be deemed to constitute
 presence in person at such meeting.

84. The
 Chairperson (if any) or, if absent, the Deputy Chairperson (if any) of the Board of Directors,
 or, failing them, some other Director nominated by the Directors shall preside as Chairperson
 at every general meeting, but if at any meeting neither the Chairperson nor the Deputy Chairperson
 nor such other Director be present within fifteen (15) minutes after the time appointed for
 holding the meeting, or if neither of them be willing to act as Chairperson, the Directors
 present shall choose some Director present to be Chairperson or if no Directors be present,
 or if all the Directors present decline to take the chair, the Shareholders present shall
 choose some Shareholder present to be Chairperson.

85. The
 Chairperson may with the consent of any meeting at which a quorum is present (and shall if
 so directed by the meeting) adjourn the meeting from time to time and from place to place
 but no business shall be transacted at any adjourned meeting except business which might
 lawfully have been transacted at the meeting from which the adjournment took place. When
 a meeting is adjourned for fourteen (14) days or more, five (5) calendar days' notice
 at the least specifying the place, the day and the hour of the adjourned meeting shall be
 given as in the case of the original meeting but it shall not be necessary to specify in
 such notice the nature of the business to be transacted at the adjourned meeting. Save as
 aforesaid, it shall not be necessary to give any notice of an adjournment or of the business
 to be transacted at an adjourned meeting.

86. The
 Directors may cancel or postpone any duly convened general meeting at any time prior to such
 meeting, except for general meetings requisitioned by the Shareholders in accordance with
 these Articles, for any reason or for no reason, upon notice in writing to Shareholders.
 A postponement may be for a stated period of any length or indefinitely as the Directors
 may determine.

87. At
 any general meeting, a resolution put to the vote of the meeting shall be decided by a poll
 and not on a show of hands.

88. A
 poll shall be taken in such manner and at such place as the Chairperson may direct (including
 the use of a ballot or voting papers, or tickets) and the result of a poll shall be deemed
 to be the resolution of the meeting. The Chairperson may appoint scrutineers and may adjourn
 the meeting to some place and time fixed by the Chairperson for the purpose of declaring
 the result of the poll.

89. In
 the case of an equality of votes, the Chairperson of the meeting at which the poll is taken
 shall not be entitled to a second or casting vote.

**VOTES OF SHAREHOLDERS**

90. Subject
 to any rights or restrictions attached to any Shares, on a poll every holder of Shares, present
 in person or by proxy and entitled to vote thereon, shall be entitled to one (1) vote for
 each Class A Ordinary Share held by such Shareholder and twenty (20) votes for each Class
 B Ordinary Share held by such Shareholder.

91. In
 the case of joint holders of a Share, the vote of the senior holder who tenders a vote, whether
 in person or by proxy, shall be accepted to the exclusion of the votes of the other joint
 holders, and for this purpose seniority shall be determined by the order in which the names
 stand in the Register of Members in respect of the Shares.

92. A
 Shareholder who has appointed special or general attorneys or a Shareholder who is subject
 to a disability may vote on a poll, by such Shareholder's attorney, committee, receiver,
 curator bonis or other person in the nature of a committee, receiver, or curator bonis appointed
 by a court and such attorney, committee, receiver, curator bonis or other person may on a
 poll vote by proxy; provided that such evidence as the Directors may require of the authority
 of the person claiming to vote shall, unless otherwise waived by the Directors, have been
 deposited at the Registered Office not less than forty-eight (48) hours before the time for
 holding the meeting or adjourned meeting at which such person claims to vote.

93. No
 objection shall be raised to the qualification of any voter except at the meeting or adjourned
 meeting at which the vote objected to is given or tendered, and every vote not disallowed
 at such meeting shall be valid for all purposes. Any such objection made in due time shall
 be referred to the Chairperson of the meeting, whose decision shall be final and conclusive.

94. On
 a poll votes may be given either personally or by proxy and a Shareholder entitled to more
 than one vote need not, if the Shareholder votes, use all their votes or cast all the votes
 the Shareholder uses in the same way.

95. The
 instrument appointing a proxy shall be in writing under the hand of the appointor or of the
 appointor's attorney duly authorised in writing, or if the appointor is a corporation,
 either under its common seal or under the hand of an officer or attorney so authorised.

96. Any
 person (whether a Shareholder or not) may be appointed to act as a proxy. A Shareholder may
 appoint more than one proxy to attend on the same occasion.

97. The
 instrument appointing a proxy and the power of attorney or other authority (if any) under
 which it is signed, or a certified copy of such power or authority, must be deposited at
 the Registered Office, or at such other place as is specified for that purpose in the notice
 of meeting or in the instrument of proxy issued by the Company, no later than the time appointed
 for holding the meeting or adjourned meeting; provided that the Chairperson of the meeting
 may in the Chairperson's discretion accept an instrument of proxy sent by fax, email
 or other electronic means.

98. An
 instrument of proxy shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be
 in any common form or in such other form as the Directors may approve;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be
 deemed to confer authority to vote on any amendment of a resolution put to the general meeting
 for which it is given as the proxy thinks fit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subject
 to its terms, be valid for any adjournment of the general meeting for which it is given.

99. The
 Directors may at the expense of the Company send to the Shareholders instruments of proxy
 (with or without prepaid postage for their return) for use at any general meeting, either
 in blank or nominating in the alternative any one or more of the Directors or any other persons.
 If for the purpose of any meeting invitations to appoint as proxy a person or one of a number
 of persons specified in the invitations are issued at the expense of the Company, such invitations
 shall be issued to all (and not to some only) of the Shareholders entitled to be sent a notice
 of the meeting and to vote thereat by proxy.

100. A
 vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding
 the death or insanity of the principal or the revocation of the instrument of proxy, or of
 the authority under which the instrument of proxy was executed, provided that no intimation
 in writing of such death, insanity, revocation or transfer shall have been received by the
 Company at the Registered Office before commencement of the meeting or adjourned meeting
 at which the instrument of proxy is used.

101. Anything
 which under these Articles a Shareholder may do by proxy that Shareholder may also do by
 a duly appointed attorney. The provisions of these Articles relating to proxies and instruments
 appointing proxies apply, *mutatis mutandis*, to any such attorney and the instrument
 appointing that attorney.

102. Any
 Shareholder which is a corporation or partnership may, by a resolution of its directors or
 other governing body, authorise such person as it thinks fit to act as its representative
 at any meeting or meetings of the Company. The person so authorised shall be entitled to
 exercise the same powers on behalf of such corporation or partnership as the corporation
 or partnership could exercise if it were a Shareholder who was an individual and such corporation
 or partnership shall for the purposes of these Articles be deemed to be present in person
 at any such meeting if a person so authorised is present.

**WRITTEN RESOLUTIONS OF SHAREHOLDERS**

103. A
 resolution in writing signed by all the Shareholders for the time being entitled to receive
 notice of, attend and vote at a general meeting shall be as valid and effective as a resolution
 passed at a general meeting duly convened and held and may consist of several documents in
 the like form each signed by one or more of the Shareholders.

**DIRECTORS**

104. Unless
 otherwise determined by the Company by Ordinary Resolution, the minimum number of Directors
 shall be one and the maximum number of Directors shall be unlimited. The first Director(s)
 shall be determined in writing by, or appointed by a resolution of, the subscriber(s) to
 the Memorandum.

105. A
 Director need not be a Shareholder but shall be entitled to receive notice of and attend
 all general meetings.

106. The
 Company may, by Ordinary Resolution, appoint any person to be a Director and may in like
 manner remove any Director and may appoint another person in the Director's stead.
 Without prejudice to the power of the Company by Ordinary Resolution to appoint a person
 to be a Director, the Board of Directors, so long as a quorum of Directors remains in office,
 shall have the power at any time and from time to time to appoint any person to be a Director
 so as to fill a casual vacancy or otherwise.

107. Each
 Director shall be entitled to such remuneration as approved by the Board of Directors and
 this may be in addition to such remuneration as may be payable under any other Article. Such
 remuneration shall be deemed to accrue from day to day. The Directors and the Secretary may
 also be paid all travelling, hotel and other expenses properly incurred by them in attending
 and returning from meetings of the Directors or any committee of the Directors or general
 meetings or in connection with the business of the Company. The Directors may, in addition
 to such remuneration as aforesaid, grant special remuneration to any Director who, being
 called upon, shall perform any special or extra services to or at the request of the Company.

108. Each
 Director shall have the power to nominate another Director or any other person to act as
 alternate Director in the Director's place at any meeting of the Directors at which
 the Director is unable to be present and at the Director's discretion to remove such
 alternate Director. On such appointment being made the alternate Director shall (except as
 regards the power to appoint an alternate Director) be subject in all respects to the terms
 and conditions existing with reference to the other Directors and each alternate Director,
 whilst acting in the place of an absent Director, shall exercise and discharge all the functions,
 powers and duties of the Director being represented. Any Director who is appointed as alternate
 Director shall be entitled at a meeting of the Directors to cast a vote on behalf of their
 appointor in addition to the vote to which such Director is entitled in their own capacity
 as a Director, and shall also be considered as two Directors for the purpose of making a
 quorum of Directors. Any person appointed as an alternate Director shall automatically vacate
 such office as an alternate Director if and when the Director by whom the alternate Director
 has been appointed vacates their office of Director. The remuneration of an alternate Director
 shall be payable out of the remuneration of the Director appointing such alternate Director
 and shall be agreed between them.

109. Every
 instrument appointing an alternate Director shall be in such common form as the Directors
 may approve.

110. The
 appointment and removal of an alternate Director shall take effect when lodged at the Registered
 Office or delivered at a meeting of the Directors.

111. The
 office of a Director shall be vacated in any of the following events namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Director resigns their office by notice in writing signed by such Director and left at
 the Registered Office;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Director becomes bankrupt or makes any arrangement or composition with such Director's
 creditors generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 the Director dies or is found to be or becomes of unsound mind;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if
 the Director ceases to be a Director by virtue of, or becomes prohibited from being a Director
 by reason of, an order made under any provisions of any law or enactment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if
 the Director is removed from office by notice addressed to such Director at their last known
 address and signed by all of the co-Directors (not being less than two in number); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if
 the Director is removed from office by Ordinary Resolution.

**TRANSACTIONS WITH DIRECTORS**

112. A
 Director may hold any other office or place of profit under the Company (other than the office
 of Auditor) in conjunction with their office of Director on such terms as to tenure of office
 and otherwise as the Directors may determine.

113. No
 Director or intending Director shall be disqualified by their office from contracting with
 the Company either as vendor, purchaser or otherwise, nor shall any such contract or any
 contract or arrangement entered into by or on behalf of the Company in which any Director
 is in any way interested be liable to be avoided, nor shall any Director so contracting or
 being so interested be liable to account to the Company for any profit realised by any such
 contract or arrangement by reason of such Director holding that office or of the fiduciary
 relationship thereby established, but the nature of the Director's interest must be
 declared by such Director at the meeting of the Directors at which the question of entering
 into the contract or arrangement is first taken into consideration, or if the Director was
 not at the date of that meeting interested in the proposed contract or arrangement, then
 at the next meeting of the Directors held after such Director becomes so interested, and
 in a case where the Director becomes interested in a contract or arrangement after it is
 made, then at the first meeting of the Directors held after such Director becomes so interested.

114. In
 the absence of some other material interest than is indicated below, provided a Director
 who is in any way, whether directly or indirectly, interested in a contract or proposed contract
 with the Company declares (whether by specific or general notice) the nature of their interest
 at a meeting of the Directors that Director may vote in respect of any contract or proposed
 contract or arrangement notwithstanding that such Director may be interested therein and
 if such Director does so their vote shall be counted and such Director may be counted in
 the quorum at any meeting of the Directors at which any such contract or proposed contract
 or arrangement shall come before the meeting for consideration.

115. Where
 proposals are under consideration concerning the appointment (including fixing or varying
 the terms of appointment) of two or more Directors to offices or employments with the Company
 or any company in which the Company is interested, such proposals may be divided and considered
 in relation to each Director separately and in such cases each of the Directors concerned
 shall be entitled to vote (and be counted in the quorum) in respect of each resolution except
 that concerning the Director's own appointment.

116. Any
 Director may act independently or through the Director's firm in a professional capacity
 for the Company, and the Director or the firm shall be entitled to remuneration for professional
 services as if the Director were not a Director, provided that nothing herein contained shall
 authorise a Director or the Director's firm to act as Auditor to the Company.

117. Any
 Director may continue to be or become a director, managing director, manager or other officer
 or shareholder of any company promoted by the Company or in which the Company may be interested,
 and no such Director shall be accountable for any remuneration or other benefits received
 by the Director as a director, managing director, manager or other officer or shareholder
 of any such other company. The Directors may exercise the voting power conferred by the shares
 in any other company held or owned by the Company or exercisable by them as directors of
 such other company, in such manner in all respects as they think fit (including the exercise
 thereof in favour of any resolution appointing themselves or any of them directors, managing
 directors or other officers of such company, or voting or providing for the payment of remuneration
 to the directors, managing directors or other officers of such company).

**POWERS OF DIRECTORS**

118. The
 business of the Company shall be managed by the Directors, who may exercise all such powers
 of the Company as are not by the Companies Act or by these Articles required to be exercised
 by the Company in general meeting, subject nevertheless to any regulations of these Articles,
 to the Companies Act, and to such regulations being not inconsistent with the aforesaid regulations
 or provisions as may be prescribed by the Company in general meeting, but no regulations
 made by the Company in general meeting shall invalidate any prior act of the Directors which
 would have been valid if such regulations had not been made. The general powers given by
 this Article shall not be limited or restricted by any special authority or power given to
 the Directors by any other Article.

119. The
 Directors may from time to time and at any time by power of attorney appoint any company,
 firm or person or any fluctuating body of persons, whether nominated directly or indirectly
 by the Directors, to be the attorney or attorneys of the Company for such purposes and with
 such powers authorities and discretions (not exceeding those vested in or exercisable by
 the Directors under these Articles) and for such period and subject to such conditions as
 they may think fit, and any such appointment may contain such provisions for the protection
 and convenience of persons dealing with any such attorneys as the Directors may think fit,
 and may also authorise any such attorney to sub-delegate all or any of the powers, authorities
 and discretions vested in such attorney. The Directors may also appoint any person to be
 the agent of the Company for such purposes and with such powers, authorities and discretions
 (not exceeding those vested in or exercisable by the Directors under these Articles) and
 for such period and on such conditions as they determine, including authority for the agent
 to delegate all or any of their powers.

120. All
 cheques, promissory notes, drafts, bills of exchange and other negotiable or transferable
 instruments drawn by the Company, and all receipts for monies paid to the Company shall be
 signed, drawn, accepted, endorsed or otherwise executed, as the case may be, in such manner
 as the Directors shall from time to time by resolution determine.

**PROCEEDINGS OF DIRECTORS**

121. The
 Directors may meet together for the dispatch of business, adjourn and otherwise regulate
 their meetings, as they think fit. Questions and matters arising at any meeting shall be
 determined by a majority of votes. In the case of an equality of votes, the Chairperson shall
 not have a second or casting vote. A Director may, and the Secretary on the requisition of
 a Director shall, at any time summon a meeting of the Directors.

122. A
 Director or Directors may participate in any meeting of the Board of Directors, or of any
 committee appointed by the Board of Directors of which such Director or Directors are members,
 by means of telephone, video or similar communication equipment by way of which all persons
 participating in such meeting can hear each other and such participation shall be deemed
 to constitute presence in person at the meeting.

123. The
 quorum necessary for the transaction of the business of the Directors may be fixed by the
 Directors and, unless so fixed, shall be two, if there are two or more Directors, and shall
 be one if there is only one Director.

124. The
 continuing Directors or a sole continuing Director may act notwithstanding any vacancies
 in their number, but if and so long as the number of Directors is reduced below the minimum
 number fixed by or in accordance with these Articles the continuing Directors or Director
 may act for the purpose of filling up vacancies in their number, or of summoning general
 meetings, but not for any other purpose. If there be no Directors or Director able or willing
 to act, then any two Shareholders, if there are two or more Shareholders, or the sole Shareholder,
 if there is only one shareholder, may summon a general meeting for the purpose of appointing
 Directors.

125. The
 Directors may from time to time elect and remove a Chairperson and, if they think fit, a
 Deputy Chairperson and determine the period for which they respectively are to hold office.
 The Chairperson or, failing them, the Deputy Chairperson shall preside at all meetings of
 the Directors, but if there be no Chairperson or Deputy Chairperson, or if at any meeting
 the Chairperson or Deputy Chairperson be not present within five (5) minutes after the time
 appointed for holding the same, the Directors present may choose one of their number to be
 Chairperson of the meeting.

126. A
 meeting of the Directors for the time being at which a quorum is present shall be competent
 to exercise all powers and discretions for the time being exercisable by the Directors.

127. Without
 prejudice to the powers conferred by these Articles, the Directors may delegate any of their
 powers to committees consisting of such member or members of their body as they think fit.
 Any committee so formed shall, in the exercise of the powers so delegated, conform to any
 regulations that may be imposed on them by the Directors. The Directors may, by power of
 attorney or otherwise, appoint any person to be an agent of the Company on such condition
 as the Directors may determine, provided that the delegation is not to the exclusion of their
 own powers.

128. The
 meetings and proceedings of any such committee consisting of two or more Directors shall
 be governed by the provisions of these Articles regulating the meetings and proceedings of
 the Directors so far as the same are applicable and are not superseded by any regulations
 made by the Directors under the preceding Article.

129. The
 Directors may appoint such officers as they consider necessary on such terms, at such remuneration
 and to perform such duties, and subject to such provisions as to disqualification and removal
 as the Directors may think fit. Unless otherwise specified in the terms of the officer's
 appointment an officer may be removed by resolution of the Directors or Shareholders.

130. All
 acts done by any meeting of Directors, or of a committee of Directors or by any person acting
 as a Director, shall, notwithstanding it be afterwards discovered that there was some defect
 in the appointment of any such Director or person acting as aforesaid, or that they or any
 of them were disqualified, or had vacated office, or were not entitled to vote, be as valid
 as if every such person had been duly appointed, and was qualified and had continued to be
 a Director and had been entitled to vote.

131. The
 Directors shall cause minutes to be made of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of the Directors present at each meeting of the Directors and of any committee of Directors;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all
 resolutions and proceedings of all meetings of the Company and of the Directors and of any
 committee of Directors.

Any such minutes, if purporting to be signed by the Chairperson of the meeting at which the proceedings took place, or by the Chairperson of the next succeeding meeting, shall, until the contrary be proved, be conclusive evidence of the proceedings.

**WRITTEN RESOLUTIONS OF DIRECTORS**

132. A
 resolution in writing signed by all the Directors for the time being entitled to attend and
 vote at a meeting of the Directors (an alternate Director being entitled to sign such a resolution
 on behalf of their appointor) shall be as valid and effective as a resolution passed at a
 meeting of the Directors duly convened and held and may consist of several documents in the
 like form each signed by one or more of the Directors (or their alternates).

**PRESUMPTION OF ASSENT**

133. A
 Director who is present at a meeting of the Board of Directors at which action on any Company
 matter is taken shall be presumed to have assented to the action taken unless the Director's
 dissent shall be entered in the minutes of the meeting or unless the Director shall file
 their written dissent from such action with the person acting as the secretary of the meeting
 before the adjournment thereof or shall forward such dissent by registered mail to such person
 immediately after the adjournment of the meeting. Such right to dissent shall not apply to
 a Director who voted in favour of such action.

**BORROWING POWERS**

134. The
 Directors may exercise all the powers of the Company to borrow money and hypothecate, mortgage,
 charge or pledge its undertaking, property, and assets or any part thereof, and to issue
 debentures, debenture stock or other securities, whether outright or as collateral security
 for any debt liability or obligation of the Company or of any third party.

**SECRETARY**

135. The
 Directors may appoint any person to be a Secretary who shall hold office for such term, at
 such remuneration and upon such conditions and with such powers as they think fit. Any Secretary
 so appointed by the Directors may be removed by the Directors or by the Company by Ordinary
 Resolution. Anything required or authorised to be done by or to the Secretary may, if the
 office is vacant or there is for any other reason no Secretary capable of acting, be done
 by or to any assistant or deputy Secretary or if there is no assistant or deputy Secretary
 capable of acting, by or to any officer of the Company authorised generally or specially
 in that behalf by the Directors, provided that any provisions of these Articles requiring
 or authorising a thing to be done by or to a Director and the Secretary shall not be satisfied
 by its being done by or to the same person acting both as Director and as, or in the place
 of, the Secretary.

136. No
 person shall be appointed or hold office as Secretary who is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 sole Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 corporation the sole director of which is the sole Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 sole director of a corporation which is the sole Director.

**THE SEAL**

137. The
 Directors shall provide for the safe custody of the Seal and the Seal shall never be used
 except by the authority of a resolution of the Directors or of a committee of the Directors
 authorised by the Directors in that behalf. The Directors may keep for use outside the Cayman
 Islands a duplicate Seal. The Directors may from time to time as they see fit (subject to
 the provisions of these Articles relating to share certificates) determine the persons and
 the number of such persons in whose presence the Seal or the facsimile thereof shall be used,
 and until otherwise so determined the Seal or the duplicate thereof shall be affixed in the
 presence of any one Director or the Secretary, or of some other person duly authorised by
 the Directors.

**Dividends, Distributions and Reserves**

138. Subject
 to the Companies Act, these Articles, and the special rights attaching to Shares of any class,
 the Directors may, in their absolute discretion, declare dividends and distributions on Shares
 in issue and authorise payment of the dividends or distributions out of the funds of the
 Company lawfully available therefor. No dividend or distribution shall be paid except out
 of the realised or unrealised profits of the Company, or out of the Share Premium Account,
 or as otherwise permitted by the Companies Act.

139. Except
 as otherwise provided by the rights attached to Shares, or as otherwise determined by the
 Directors, all dividends and distributions in respect of Shares shall be declared and paid
 according to the par value of the Shares that a Shareholder holds. If any Share is issued
 on terms providing that it shall rank for dividend or distribution as from a particular date,
 that Share shall rank for dividend or distribution accordingly.

140. The
 Directors may deduct and withhold from any dividend or distribution otherwise payable to
 any Shareholder all sums of money (if any) then payable by the Shareholder to the Company
 on account of calls or otherwise or any monies which the Company is obliged by law to pay
 to any taxing or other authority.

141. The
 Directors may declare that any dividend or distribution be paid wholly or partly by the distribution
 of specific assets and in particular of shares, debentures or securities of any other company
 or in any one or more of such ways and, where any difficulty arises in regard to such distribution,
 the Directors may settle the same as they think expedient and in particular may issue fractional
 Shares and fix the value for distribution of such specific assets or any part thereof and
 may determine that cash payments shall be made to any Shareholder upon the basis of the value
 so fixed in order to adjust the rights of all Shareholders and may vest any such specific
 assets in trustees as may seem expedient to the Directors.

142. Any
 dividend, distribution, interest or other monies payable in cash in respect of Shares may
 be paid by wire transfer to the holder or by cheque or warrant sent through the post directed
 to the registered address of the holder or, in the case of joint holders, to the registered
 address of the holder who is first named on the Register of Members or to such person and
 to such address as such holder or joint holders may in writing direct. Every such cheque
 or warrant shall (unless the Directors in their sole discretion otherwise determine) be made
 payable to the order of the person to whom it is sent. Any one of two or more joint holders
 may give effectual receipts for any dividends, bonuses, or other monies payable in respect
 of the Share held by them as joint holders.

143. Any
 dividend or distribution which cannot be paid to a Shareholder and/or which remains unclaimed
 after six (6) months from the date of declaration of such dividend or distribution may, in
 the discretion of the Directors, be paid into a separate account in the Company's name,
 provided that the Company shall not be constituted as a trustee in respect of that account
 and the dividend or distribution shall remain as a debt due to the Shareholder. Any dividend
 or distribution which remains unclaimed after a period of six years from the date of declaration
 of such dividend or distribution shall be forfeited and shall revert to the Company.

144. No
 dividend or distribution shall bear interest against the Company.

**SHARE PREMIUM ACCOUNT**

145. The
 Directors shall establish an account on the books and records of the Company to be called
 the Share Premium Account and shall carry to the credit of such account from time to time
 a sum equal to the amount or value of the premium paid on the issue of any Share.

**ACCOUNTS**

146. The
 Directors shall cause proper books of account to be kept with respect to all sums of money
 received and expended by the Company and the matters in respect of which the receipt or expenditure
 takes place, all sales and purchases of goods by the Company and the assets and liabilities
 of the Company. Proper books shall not be deemed to be kept if there are not kept such books
 of account as are necessary to give a true and fair view of the state of the Company's
 affairs and to explain its transactions.

147. The
 books of account shall be kept at the Registered Office or at such other place as the Directors
 think fit, and shall always be open to inspection by the Directors.

148. The
 Board of Directors shall from time to time determine whether and to what extent and at what
 time and places and under what conditions or articles the accounts and books of the Company
 or any of them shall be open to the inspection of Shareholders not being Directors, and no
 Shareholder (not being a Director) shall have any right of inspection of any account or book
 or document of the Company except as conferred by law or authorised by the Board of Directors
 or by resolution of the Shareholders.

**AUDIT**

149. The
 accounts relating to the Company's affairs shall be audited in such manner as may be
 determined from time to time by resolution of the Shareholders or failing any such determination,
 by the Board of Directors, or failing any determination as aforesaid, shall not be audited.

**NOTICES**

150. Any
 notice or document may be served by the Company on any Shareholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) personally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 registered post or courier to that Shareholder's address as appearing in the Register
 of Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by
 cable, telex, facsimile, e-mail or any other electronic means should the Directors deem it
 appropriate.

151. In
 the case of joint holders of a Share, all notices shall be given to that one of the joint
 holders whose name stands first in the Register of Members in respect of the joint holding,
 and notice so given shall be sufficient notice to all the joint holders.

152. Any
 Shareholder present, either personally or by proxy, at any meeting of the Company shall for
 all purposes be deemed to have received due notice of such meeting and, where requisite,
 of the purposes for which such meeting was convened.

153. Any
 summons, notice, order or other document required to be sent to or served upon the Company,
 or upon any officer of the Company may be sent or served by leaving the same or sending it
 through the post in a prepaid letter envelope or wrapper, addressed to the Company or to
 such officer at the Registered Office.

154. Where
 a notice or other document is sent by registered post, service of that notice or other document
 shall be deemed to be effected by properly addressing, pre-paying and posting an envelope
 containing it, and that notice or other document shall be deemed to have been received on
 the third day (not including Saturdays or Sundays or public holidays) following the day on
 which it was posted. Where a notice or other document is sent by courier, service of that
 notice or other document shall be deemed to be effected by delivery of the notice or other
 document to a courier company, and that notice or other document shall be deemed to have
 been received on the fifth day (not including Saturdays or Sundays or public holidays in
 the Cayman Islands) following the day on which it was delivered to the courier company. Where
 a notice or other document is sent by cable, telex or facsimile, service of that notice or
 other document shall be deemed to be effected by properly addressing and sending it, and
 that notice or other document shall be deemed to have been received on the same day that
 it was transmitted. Where a notice or other document is sent by email, service of that notice
 or other document shall be deemed to be effected by transmitting the email to the email address
 provided by the intended recipient and that notice or other document shall be deemed to have
 been received on the same day that it was sent, and it shall not be necessary for the receipt
 of the email to be acknowledged by the recipient.

155. Any
 notice or document delivered or sent by post to or left at the registered address of any
 Shareholder in pursuance of these Articles shall notwithstanding that such Shareholder be
 then dead, insane, bankrupt or dissolved, and whether or not the Company has notice of such
 death, insanity, bankruptcy or dissolution, be deemed to have been duly served in respect
 of any Share registered in the name of such Shareholder as sole or joint holder, unless the
 Shareholder's name shall at the time of the service of the notice or document, have
 been removed from the Register of Members as the holder of the Share, and such service shall
 for all purposes be deemed a sufficient service of such notice or document on all persons
 interested (whether jointly with or as claiming through or under such Shareholder) in the
 Share.

**WINDING UP AND FINAL DISTRIBUTION OF ASSETS**

156. The
 Directors may present a winding up petition on behalf of the Company without the sanction
 of a resolution of the Shareholders passed at a general meeting.

157. If
 the Company shall be wound up the liquidator shall apply the assets of the Company in satisfaction
 of creditors' claims in such manner and order as such liquidator thinks fit.

158. If
 the Company shall be wound up, and the assets available for distribution amongst the Shareholders
 shall be insufficient to repay the whole of the share capital, such assets shall be distributed
 so that, as nearly as may be, the losses shall be borne by the Shareholders in proportion
 to the par value of the Shares held by them. If in a winding up the assets available for
 distribution amongst the Shareholders shall be more than sufficient to repay the whole of
 the share capital at the commencement of the winding up, the surplus shall be distributed
 amongst the Shareholders in proportion to the par value of the Shares held by them at the
 commencement of the winding up subject to a deduction from those Shares in respect of which
 there are monies due of all monies payable to the Company for unpaid calls or otherwise.
 This Article is without prejudice to the rights of the holders of Shares issued upon special
 terms and conditions.

159. If
 the Company shall be wound up (whether the liquidation is voluntary, under supervision or
 by the Court) the liquidator may, with the authority of a Special Resolution, divide among
 the Shareholders in specie the whole or any part of the assets of the Company, and whether
 or not the assets shall consist of property of a single kind, and may for such purposes set
 such value as the liquidator deems fair upon any one or more class or classes of property,
 and may determine how such division shall be carried out as between the Shareholders. The
 liquidator may, with the like authority, vest any part of the assets in trustees upon such
 trusts for the benefit of Shareholders as the liquidator, with the like authority, shall
 think fit, and the liquidation of the Company may be closed and the Company dissolved, but
 so that no Shareholder shall be compelled to accept any Shares in respect of which there
 is liability.

**INDEMNITY**

160. Every
 Director or officer of the Company shall be indemnified out of the assets of the Company
 against any liability incurred by that Director or officer as a result of any act or failure
 to act in carrying out their functions other than such liability (if any) that the Director
 or officer may incur by their own actual fraud or wilful default. No such Director or officer
 shall be liable to the Company for any loss or damage in carrying out their functions unless
 that liability arises through the actual fraud or wilful default of such Director or officer.
 References in this Article to actual fraud or wilful default mean a finding to such effect
 by a competent court in relation to the conduct of the relevant party.

161. The
 Directors shall have the power to purchase and maintain insurance for the benefit of any
 person who is or was a Director or officer of the Company indemnifying them against any liability
 which may lawfully be insured against by the Company.

**DISCLOSURE**

162. Any
 Director, officer or authorised agent of the Company shall, if lawfully required to do so
 under the laws of any jurisdiction to which the Company is subject or in compliance with
 the rules of any stock exchange upon which the Company's Shares are listed or in accordance
 with any contract entered into by the Company, be entitled to release or disclose any information
 in their possession regarding the affairs of the Company including, without limitation, any
 information contained in the Register of Members.

**CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE**

163. The
 Directors may fix in advance a date as the record date for any determination of Shareholders
 entitled to notice of or to vote at a meeting of the Shareholders and for the purpose of
 determining the Shareholders entitled to receive payment of any dividend the Directors may
 either before or on the date of declaration of such dividend fix a date as the record date
 for such determination.

164. If
 no record date is fixed for the determination of Shareholders entitled to notice of or to
 vote at a meeting of Shareholders or Shareholders entitled to receive payment of a dividend,
 the date on which notice of the meeting is mailed or the date on which the resolution of
 the Directors declaring such dividend is adopted, as the case may be, shall be the record
 date for such determination of Shareholders. When a determination of Shareholders entitled
 to vote at any meeting has been made in the manner provided in the preceding Article, such
 determination shall apply to any adjournment thereof.

**REGISTRATION BY WAY OF CONTINUATION**

165. The
 Company may by Special Resolution resolve to be registered by way of continuation in a jurisdiction
 outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
 registered or existing. The Directors may cause an application to be made to the Registrar
 of Companies to deregister the Company in the Cayman Islands or such other jurisdiction in
 which it is for the time being incorporated, registered or existing and may cause all such
 further steps as they consider appropriate to be taken to effect the transfer by way of continuation
 of the Company.

**FINANCIAL YEAR**

166. The
 Directors shall determine the financial year of the Company and may change the same from
 time to time. Unless they determine otherwise, the financial year shall end on 31 December
 in each year.

**AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION**

167. The
 Company may from time to time alter or add to these Articles or alter or add to the Memorandum
 with respect to any objects, powers or other matters specified therein by passing a Special
 Resolution in the manner prescribed by the Companies Act.

**CAYMAN ISLANDS DATA PROTECTION**

168. The
 Company is a "data controller" for the purposes of the Data Protection Act (as
 amended) (the DPA).
 By virtue of subscribing for and holding Shares in the Company, Shareholders provide the
 Company with certain information (Personal Data)
 that constitutes "personal data" under the DPA. Personal Data includes, without
 limitation, the following information relating to a Shareholder and/or any natural person(s)
 connected with a Shareholder (such as a Shareholder's individual directors, members
 and/or beneficial owner(s)): name, residential address, email address, corporate contact
 information, other contact information, date of birth, place of birth, passport or other
 national identifier details, national insurance or social security number, tax identification,
 bank account details and information regarding assets, income, employment and source of funds.

169. The
 Company processes such Personal Data for the purposes of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) performing
 contractual rights and obligations (including under the Memorandum and these Articles);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) complying
 with legal or regulatory obligations (including those relating to anti-money laundering and
 counter-terrorist financing, preventing and detecting fraud, sanctions, automatic exchange
 of tax information, requests from governmental, regulatory, tax and law enforcement authorities,
 beneficial ownership and the maintenance of statutory registers); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 legitimate interests pursued by the Company or third parties to whom Personal Data may be
 transferred, including to manage and administer the Company, to send updates, information
 and notices to Shareholders or otherwise correspond with Shareholders regarding the Company,
 to seek professional advice (including legal advice), to meet accounting, tax reporting and
 audit obligations, to manage risk and operations and to maintain internal records.

170. The
 Company transfers Personal Data to certain third parties who process the Personal Data on
 the Company's behalf, including third party service providers that it appoints or engages
 to assist with its management, operation, administration and legal, governance and regulatory
 compliance. In certain circumstances, the Company may be required by law or regulation to
 transfer Personal Data and other information with respect to one or more Shareholders to
 a governmental, regulatory, tax or law enforcement authority. That authority may, in turn,
 exchange this information with another governmental, regulatory, tax or law enforcement authority
 established in or outside the Cayman Islands.

Name and address of Subscriber

Mourant Nominees (Cayman) Limited 94 Solaris Avenue Camana Bay PO Box 1348 Grand Cayman KY1-1108 CAYMAN ISLANDS

---

| | | |
|:---|:---|:---|
|  | Mourant Nominees (Cayman) Limited<br> acting by: | Mourant Nominees (Cayman) Limited<br> acting by: |
|  | /s/ Kerri Ann Marquardt | /s/ Kerri Ann Marquardt |
|  | Name: | Kerri Ann Marquardt |
|  | Title: | Authorised Signatory |
|  | Witness to the above signature: | Witness to the above signature: |
|  | /s/ Marrio McKenzie | /s/ Marrio McKenzie |
|  | Name: | Marrio McKenzie |
|  | Address:<br> 94 Solaris Avenue<br> Camana Bay<br> PO Box 1348<br> Grand Cayman KY1-1108<br> CAYMAN ISLANDS<br> Occupation: Administrator/Secretary | Address:<br> 94 Solaris Avenue<br> Camana Bay<br> PO Box 1348<br> Grand Cayman KY1-1108<br> CAYMAN ISLANDS<br> Occupation: Administrator/Secretary |
| Date: 3<sup>rd</sup> December 2025 |  |  |

---

## Exhibit 3.2

**Exhibit 3.2**

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated March 16, 2026)

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated March 16, 2026)

1. The name of the Company is Ticketplus Ltd.

2. The registered office of the Company will be at the offices of Mourant
Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, PO Box 1348, Grand Cayman KY1-1108, Cayman Islands or at such other
place as the Directors may from time to time decide.

3. The objects for which the Company is established are unrestricted and
the Company shall have full power and authority to carry out any object not prohibited by law as provided by Section 7(4) of the Companies
Act.

4. The Company shall have and be capable of exercising all the functions
of a natural person of full capacity irrespective of any question of corporate benefit as provided by Section 27(2) of the Companies Act.

5. Nothing in the preceding paragraphs shall be deemed to permit the Company
to carry on the business of a bank or trust company without being licensed in that behalf under the provisions of the Banks and Trust
Companies Act (as amended) or to carry on insurance business from within the Cayman Islands or the business of an insurance manager, agent,
sub-agent or broker without being licensed in that behalf under the provisions of the Insurance Act (as amended), or to carry on the business
of company management without being licensed in that behalf under the provisions of the Companies Management Act (as amended).

6. The Company will not trade in the Cayman Islands with any person, firm
or corporation except in furtherance of the business of the Company carried on outside the Cayman Islands, provided that nothing in this
Memorandum of Association shall be construed as to prevent the Company from effecting and concluding contracts in the Cayman Islands,
and exercising in the Cayman Islands all of its powers necessary for the carrying on of business outside the Cayman Islands.

7. The liability of each member is limited to the amount from time to time
unpaid on such member's shares.

8. The authorised share capital of the Company is US$35,000 divided into
300,000,000 ordinary shares with a par value of US$0.0001 each and 50,000,000 preferred shares with a par value of US$0.0001 each, with
the power for the Company, insofar as is permitted by law and the Articles, to redeem, purchase or redesignate any of its shares and to
increase or reduce the said share capital subject to the Companies Act (as amended) and the Articles and to issue any part of its capital,
whether original, redeemed or increased with or without any preference, priority or special privilege or subject to any postponement of
rights or to any conditions or restrictions and so that unless the conditions of issue shall otherwise expressly declare every issue of
shares whether declared to be preference or otherwise shall be subject to the powers hereinbefore contained.

9. The Company may exercise the power contained in Section 206 of the Companies
Act to deregister in the Cayman Islands and be registered by way of continuation in another jurisdiction.

10. Capitalised terms that are not defined in this Memorandum bear the meanings
given to those terms in the Articles.

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated March 16, 2026)

 

 

**<u>**TABLE OF CONTENTS**</u>**

---

| | |
|:---|:---|
| **ARTICLE** | **PAGE** |
| TABLE A | 1 |
| DEFINITIONS AND INTERPRETATION | 1 |
| COMMENCEMENT OF BUSINESS | 5 |
| SITUATION OF REGISTERED OFFICE | 5 |
| SHARES | 5 |
| REDEMPTION, PURCHASE AND SURRENDER OF SHARES | 6 |
| TREASURY SHARES | 7 |
| MODIFICATION OF RIGHTS | 8 |
| SHARE CERTIFICATES | 8 |
| TRANSFER AND TRANSMISSION OF SHARES | 9 |
| LIEN | 10 |
| CALL ON SHARES | 11 |
| FORFEITURE OF SHARES | 12 |
| ALTERATION OF SHARE CAPITAL | 13 |
| GENERAL MEETINGS | 14 |
| NOTICE OF GENERAL MEETINGS | 14 |
| PROCEEDINGS AT GENERAL MEETINGS | 15 |
| VOTES OF SHAREHOLDERS | 16 |
| WRITTEN RESOLUTIONS OF SHAREHOLDERS | 18 |
| DIRECTORS | 18 |
| TRANSACTIONS WITH DIRECTORS | 20 |
| POWERS OF DIRECTORS | 21 |
| PROCEEDINGS OF DIRECTORS | 21 |
| WRITTEN RESOLUTIONS OF DIRECTORS | 23 |
| PRESUMPTION OF ASSENT | 23 |
| BORROWING POWERS | 24 |
| SECRETARY | 24 |
| THE SEAL | 24 |
| DIVIDENDS, DISTRIBUTIONS AND RESERVES | 24 |
| SHARE PREMIUM ACCOUNT | 26 |
| ACCOUNTS | 26 |
| AUDIT | 26 |
| NOTICES | 26 |
| WINDING UP AND FINAL DISTRIBUTION OF ASSETS | 27 |
| INDEMNITY | 28 |
| DISCLOSURE | 28 |
| CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE | 29 |
| REGISTRATION BY WAY OF CONTINUATION | 29 |
| FINANCIAL YEAR | 29 |
| AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION | 29 |
| CAYMAN ISLANDS DATA PROTECTION | 30 |

---

i

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated March 16, 2026)

 

**TABLE A**

1. In these Articles, the regulations contained in Table A in the First
Schedule to the Companies Act (as defined below) do not apply except insofar as they are repeated or contained in these Articles.

**DEFINITIONS AND INTERPRETATION**

2. In these Articles, the following words and expressions shall have the
meanings set out below save where the context otherwise requires:

---

| | |
|:---|:---|
| **Articles** | these Articles of Association of the Company, as amended from time to time by Special Resolution; |
| **Auditors** | the auditor or auditors for the time being of the Company; |
| **Board of Directors** | the Directors assembled as a board or assembled as a committee appointed by that board; |

---

---

| | |
|:---|:---|
| **Companies Act** | the Companies Act (as amended); |
| **Company** | the above-named company; |
| **Directors** | the directors of the Company for the time being; |
| **Electronic Record** | has the same meaning as in the Electronic Transactions Act; |
| **Electronic Transactions Act** | the Electronic Transactions Act (as amended); |
| **Memorandum** | the Memorandum of Association of the Company, as amended and restated from time to time by Special Resolution; |
| **Ordinary Resolution** | a resolution:<br>(a) passed by a simple majority of the votes of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy, at a general meeting and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled; or<br>(b) approved in writing by all of the Shareholders entitled to vote at a general meeting in one or more instruments each signed by one or more of the Shareholders and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed; |
| **Ordinary Shares** | the ordinary shares with a par value of US$0.0001 each in the capital of the Company; |
| **paid up** | paid up as to the par value and any premium payable in respect of the issue of any Shares and includes credited as paid up; |
| **person** | any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having separate legal personality) or any of them as the context so requires; |
| **Preferred Shares** | the preferred shares with a par value of US$0.0001 each in the capital of the Company; |

---

---

| | |
|:---|:---|
| **Register of Members** | the register of Shareholders to be kept pursuant to these Articles; |
| **Registered Office** | the registered office of the Company for the time being; |
| **Seal** | the common seal of the Company including any duplicate seal; |
| **Secretary** | any person appointed by the Directors to perform any of the duties of the secretary of the Company, including a joint, assistant or deputy secretary; |
| **Share** | a share in the capital of the Company of any class (including, without limitation, an Ordinary Share or a Preferred Share) including a fraction of such share; |
| **Shareholder** | any person registered in the Register of Members as the holder of Shares of the Company and, where two or more persons are so registered as the joint holders of such Shares, the person whose name stands first in the Register of Members as one of such joint holders; |
| **Share Premium Account** | the share premium account established in accordance with these Articles and the Companies Act; |
| **signed** | includes an electronic signature and a signature or representation of a signature affixed by mechanical means; |
| **Special Resolution** | has the same meaning as in the Companies Act, being a resolution:<br>(a) passed by a majority of not less than two-thirds of the votes cast at a general meeting of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of which notice specifying the intention to propose the resolution as a special resolution has been duly given and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled; or<br>(b) approved in writing by all of the Shareholders entitled to vote at a general meeting in one or more instruments each signed by one or more of the Shareholders and the effective date of the special resolution so adopted shall be the date on which the instrument or the last of such instruments, if more than one, is executed; and |
| **Treasury Shares** | Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the Company and not cancelled. |

---

3. In these Articles, unless there be something in the subject or context
inconsistent with such construction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words importing the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words importing a gender shall include other genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words importing persons only shall include companies, partnerships, trusts or associations or bodies of
persons, whether corporate or not;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the word "may" shall be construed as permissive and the word "shall" shall be construed
as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the word "year" shall mean calendar year, the word "quarter" shall mean calendar quarter
and the word "month" shall mean calendar month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a reference to a "dollar" or "$" is a reference to the legal currency of the United
States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the words "including", "include", "in particular" or any similar expression
are to be construed without limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a reference to any enactment includes a reference to any modification or re-enactment thereof for the
time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a reference to any meeting (whether of the Directors, a committee appointed by the Board of Directors
or the Shareholders or any class of Shareholders) includes any adjournment of that meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Sections 8 and 19 of the Electronic Transactions Act shall not apply; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) a reference to "written" or "in writing" includes a reference to all modes of representing
or reproducing words in visible form, including in the form of an Electronic Record.

4. Subject to the two preceding Articles, any words defined in the Companies
Act shall, if not inconsistent with the subject or context, bear the same meaning in these Articles.

5. The table of contents to, and the headings in, these Articles are for
convenience of reference only and are to be ignored in construing these Articles.

**COMMENCEMENT OF BUSINESS**

6. The business of the Company may be commenced as soon after incorporation
as the Board of Directors shall see fit.

**SITUATION OF REGISTERED OFFICE**

7. The Registered Office shall be at such address in the Cayman Islands
as the Directors shall from time to time determine. The Company, in addition to the Registered Office, may establish and maintain such
other offices and places of business and agencies in such places as the Directors may from time to time determine.

**SHARES**

8. The Directors may impose such restrictions as they think necessary on
the offer and sale of any Shares.

9. Subject to the provisions, if any, in the Memorandum, these Articles,
and applicable law, without prejudice to any rights attached to any existing Shares, all Shares for the time being unissued shall be under
the control of the Directors who may allot, issue, grant options over or otherwise dispose of Shares (including fractions of a Share)
with or without preferred, deferred or other rights or restrictions, whether in regard to dividend, voting, return of capital or otherwise
and to such persons, at such times and on such other terms as they think proper, and may also (subject to the Companies Act and these
Articles) vary such rights, and for such purposes the Directors may reserve an appropriate number of Shares for the time being unissued.
No Share may be issued at a discount except in accordance with the Companies Act.

10. The Company may issue rights, options, warrants or convertible securities
or securities of a similar nature conferring the right upon the holders thereof to subscribe for, purchase or receive any class of Shares
or other securities in the Company, upon such terms as the Directors may from time to time determine, and for such purposes the Directors
may reserve an appropriate number of Shares for the time being unissued.

11. Subject to Article 31, the Directors, or the Shareholders by Ordinary
Resolution, may authorise the division of Shares into any number of classes and sub-classes and series and sub-series and the different
classes and sub-classes and series and sub-series shall be authorised, established and designated (or re-designated as the case may be)
and the variations in the relative rights (including, without limitation, voting, dividend and redemption rights), restrictions, preferences,
privileges and payment obligations as between the different classes and series (if any) may be fixed and determined by the Directors or
the Shareholders by Ordinary Resolution.

12. No Share may be issued at a discount except in accordance with the Companies
Act.

13. The Directors may in their absolute discretion refuse to accept any
application for Shares and may accept any application in whole or in part.

14. The Company may on any issue of Shares deduct any sales charge or subscription
fee from the amount subscribed for the Shares.

15. No person shall be recognised by the Company as holding any Share upon
any trust, and the Company shall not be bound by or recognise (even when having notice thereof) any equitable, contingent, future or partial
interest in any Share, or (except as otherwise provided by these Articles or as required by law) any other right in respect of any Share
except an absolute right thereto in the registered holder, provided that, notwithstanding the foregoing, the Company shall be entitled
to recognise any such interests as shall be determined by the Directors.

16. The Directors shall keep or cause to be kept a Register of Members as
required by the Companies Act at such place or places as the Directors may from time to time determine. In the absence of any such determination,
the Register of Members shall be kept at the Registered Office.

17. The Directors in each year shall prepare or cause to be prepared an
annual return and declaration setting forth the particulars required by the Companies Act in respect of exempted companies and deliver
a copy thereof to the Registrar of Companies in the Cayman Islands.

18. The Company shall not issue Shares to bearer.

19. The Directors may issue fractions of a Share and, if so issued, a fraction
of a Share shall be subject to and carry the corresponding fraction of liabilities (whether with respect to nominal or par value, premium,
calls or otherwise howsoever), limitations, preferences, privileges, qualifications, restrictions, rights (including, without prejudice
to the foregoing generality, voting and participation rights) and other attributes of a Share. If more than one fraction of a Share is
issued to or acquired by the same Shareholder, such fractions shall be accumulated.

20. The premium arising on all issues of Shares shall be held in the Share
Premium Account established in accordance with these Articles.

21. Payment for Shares shall be made at such time and place and to such
person on behalf of the Company as the Directors may from time to time determine. Payment for any Shares shall be made in such currency
as the Directors may determine from time to time, provided that the Directors shall have the discretion to accept payment in any other
currency or in kind or a combination of cash and in kind.

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

22. Subject to the Companies Act, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue Shares on terms that they are to be redeemed or are liable to be redeemed at the option of the Company
and/or the Shareholder on such terms and in such manner as the Directors may, before the issue of such Shares, determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase its own Shares (including any redeemable Shares) on such terms and in such manner as the Directors
may determine and agree with the Shareholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make a payment in respect of the redemption or purchase of Shares in any manner authorised by the Companies
Act, including out of its capital, profits or the proceeds of a fresh issue of Shares.

23. Unless the Directors determine otherwise, any Share in respect of which
notice of redemption has been given shall not be entitled to participate in the profits of the Company in respect of the period after
the date specified as the date of redemption in the notice of redemption.

24. The redemption or purchase of any Share shall not be deemed to give
rise to the redemption or purchase of any other Share.

25. The Directors may when making payments in respect of a redemption or
purchase of Shares, if authorised by the terms of issue of the Shares being redeemed or purchased or with the agreement of the holder
of such Shares, make such payment either in cash or in specie.

26. Subject to the Companies Act, the Company may accept the surrender for
no consideration of any fully paid Share (including any redeemable Share) on such terms and in such manner as the Directors may determine.

**TREASURY SHARES**

27. Shares that the Company purchases, redeems or acquires (by way of surrender
or otherwise) may, at the option of the Company, be cancelled immediately or held as Treasury Shares in accordance with the Companies
Act. In the event that the Directors do not specify that the relevant Shares are to be held as Treasury Shares, such Shares shall be cancelled.

28. No dividend may be declared or paid, and no other distribution (whether
in cash or otherwise) of the Company's assets (including any distribution of assets to Shareholders on a winding up) may be declared or
paid in respect of a Treasury Share.

29. The Company shall be entered in the Register of Members as the holder
of the Treasury Shares, provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall not be treated as a Shareholder for any purpose and shall not exercise any right in
respect of the Treasury Shares, and any purported exercise of such a right shall be void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company and shall not
be counted in determining the total number of issued Shares at any given time, whether for the purposes of these Articles or the Companies
Act, save that an allotment of Shares as fully paid bonus shares in respect of Treasury Shares is permitted and Shares allotted as fully
paid bonus shares in respect of Treasury Shares shall be treated as Treasury Shares.

30. Treasury Shares may be disposed of by the Company on any terms and conditions
determined by the Directors.

**MODIFICATION OF RIGHTS**

31. If at any time the share capital of the Company is divided into different
classes of Shares, the rights attached to any class (unless otherwise provided by the terms of issue of the Shares of that class) may,
whether or not the Company is being wound up, be varied or abrogated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by, or with the approval of, the Directors without the consent of the holders of the Shares of that class
if the Directors determine that the variation or abrogation is not materially adverse to the interests of those Shareholders; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise only with the consent in writing of the holders of at least two-thirds of the issued Shares
of that class or with the sanction of a resolution passed by a majority of at least two-thirds of the votes cast at a separate meeting
of the holders of the Shares of that class (subject to any rights or restrictions attached to those Shares).

32. The provisions of these Articles relating to general meetings shall
apply, *mutatis mutandis*, to every class meeting of the holders of one class of Shares, except that the necessary quorum shall be
one or more Shareholders holding or representing by proxy at least twenty (20) per cent in par value of the issued Shares of that
class and that any holder of Shares of that class present in person or by proxy may demand a poll.

33. For the purposes of Articles 31 and 32, the Directors may treat all
classes of Shares, or any two classes of Shares, as forming a single class if they consider that each class would be affected in the same
way by the proposal or proposals under consideration. In any other case, the Directors shall treat all classes of Shares, or any two classes
of Shares, as separate classes.

34. The rights of the holders of the Shares of any class shall not, where
those Shares were issued with preferred or other rights, be deemed to be materially adversely varied or abrogated by the creation or issue
of further Shares ranking equally with those Shares or the redemption or purchase of Shares of any other class by the Company (subject
to any rights or restrictions attached to those Shares).

**SHARE CERTIFICATES**

35. The Shares will be issued in fully registered, book-entry form. A Shareholder
shall only be entitled to a share certificate if the Directors resolve that share certificates shall be issued. Share certificates representing
Shares, if any, shall be in such form as the Directors may determine. Share certificates shall be signed by one or more Directors or other
person(s) authorised by the Directors. The Directors may authorise certificates to be issued with the authorised signature(s) affixed
by mechanical process. All certificates for Shares shall be consecutively numbered or otherwise identified and shall specify the Shares
to which they relate. All certificates surrendered to the Company for transfer shall be cancelled and, subject to these Articles, no new
certificate shall be issued until the former certificate representing a like number of relevant Shares shall have been surrendered and
cancelled.

36. If a share certificate is defaced, worn out lost or destroyed it may
be renewed on payment of such fee, if any, and on such terms if any, as to evidence and obligations to indemnify the Company as the Board
of Directors may determine and (in the case of defacement or wearing out) upon delivery of the old certificate.

37. Every share certificate sent in accordance with these Articles will
be sent at the risk of the Shareholder or other person entitled to the certificate. The Company will not be responsible for any share
certificate lost or delayed in the course of delivery.

38. In the event that Shares are held jointly by several persons, any request
may be made by any one of the joint holders and if so made shall be binding on all of the joint holders.

39. Every share certificate of the Company shall bear legends required under
applicable law, including the Securities Act and/or US Exchange Act.

**TRANSFER AND TRANSMISSION OF SHARES**

40. No transfer of Shares shall be permitted without the consent of the
Directors, which may be withheld for any or no reason but may include any transfer which in the opinion of the Directors is not or may
not be consistent with any representation or warranty that the transferor of the Shares may have given to the Company, may result in Shares
being held by any person in breach of the laws of any country or government authority, or may subject the Company or Shareholders to adverse
tax or regulatory consequences under the laws of any country.

41. All transfers of Shares shall be effected by an instrument of transfer
in writing in any usual or common form in use in the Cayman Islands or in any other form approved by the Directors and need not be under
seal.

42. The instrument of transfer must be executed by or on behalf of the transferor.
The instrument of transfer must be accompanied by such evidence as the Directors may reasonably require to show the right of the transferor
to make the transfer and the transferor is deemed to remain the holder until the transferee's name is entered in the Register of
Members. The instrument of transfer must be completed and signed in the exact name or names in which such Shares are registered, indicating
any special capacity in which it is being signed with relevant details supplied to the Company.

43. The Directors shall not recognise any transfer of Shares unless the
instrument of transfer is deposited at the Registered Office or such other place as the Directors may reasonably require for the Shares
to which it relates, together with such other evidence as the Directors may reasonably require to show the right of the transferor to
make the transfer.

44. The registration and transfer of Shares may be suspended at such times
and for such periods as the Directors may from time to time determine.

45. All instruments of transfer which are registered shall be retained by
the Company, but any instrument of transfer which the Directors may decline to register shall (except in any case of fraud) be returned
to the person depositing the same.

46. In case of the death of a Shareholder, the survivors or survivor (where
the deceased was a joint holder) and the executors or administrators of the deceased where the deceased was the sole or only surviving
holder, shall be the only persons recognised by the Company as having title to the deceased's interest in the Shares, but nothing in this
Article shall release the estate of the deceased holder whether sole or joint from any liability in respect of any Share solely or jointly
held by the deceased.

47. Any guardian of an infant Shareholder and any curator or other legal
representative of a Shareholder under legal disability and any person entitled to a share in consequence of the death or bankruptcy of
a Shareholder shall, upon producing such evidence of title as the Directors may require, have the right either to be registered as the
holder of the Share or to make such transfer thereof as the deceased or bankrupt Shareholder could have made, but the Directors shall
in either case have the same right to refuse or suspend registration as they would have had in the case of a transfer of the Shares by
the infant or by the deceased or bankrupt Shareholder before the death or bankruptcy or by the Shareholder under legal disability before
such disability.

48. A person so becoming entitled to a Share in consequence of the death
or bankruptcy of a Shareholder shall have the right to receive and may give a discharge for all dividends and other money payable or other
advantages due on or in respect of the Share, but such person shall not be entitled to receive notice of or to attend or vote at meetings
of the Company, or save as aforesaid, to any of the rights or privileges of a Shareholder unless and until such person shall be registered
as a Shareholder in respect of the Share, provided always that the Directors may at any time give notice requiring any such person to
elect either to be registered or to transfer the Share and if the notice is not complied with within ninety (90) days the Directors may
thereafter withhold all dividends or other monies payable or other advantages due in respect of the Share until the requirements of the
notice have been complied with.

**LIEN**

49. The Company shall have a first and paramount lien on all Shares (whether
fully paid-up or not) registered in the name of a Shareholder (whether solely or jointly with others) for all debts, liabilities or engagements
to or with the Company (whether presently payable or not) by such Shareholder or the Shareholder's estate, either alone or jointly with
any other person, whether a Shareholder or not, but the Directors may at any time declare any Share to be wholly or in part exempt from
the provisions of this Article. The registration of a transfer of any such Share shall operate as a waiver of the Company's lien thereon.
The Company's lien on a Share shall also extend to any amount payable in respect of that Share.

50. The Company may sell, in such manner as the Directors think fit, any
Shares on which the Company has a lien, if a sum in respect of which the lien exists is presently payable, and is not paid within fourteen
(14) clear days after notice has been given to the holder of the Shares, or to the person entitled to it in consequence of the death or
bankruptcy of the holder, demanding payment and stating that if the notice is not complied with the Shares may be sold.

51. To give effect to any such sale the Directors may authorise any person
to execute an instrument of transfer of the Shares sold to, or in accordance with the directions of, the purchaser. The purchaser or the
purchaser's nominee shall be registered as the holder of the Shares comprised in any such transfer, and the purchaser shall not be bound
to see to the application of the purchase money, nor shall the purchaser's title to the Shares be affected by any irregularity or invalidity
in the sale or the exercise of the Company's power of sale under these Articles.

52. The net proceeds of such sale, after payment of costs, shall be applied
in payment of such part of the amount in respect of which the lien exists as is presently payable and any residue shall (subject to a
like lien for sums not presently payable as existed upon the Shares before the sale) be paid to the person entitled to the Shares at the
date of the sale.

**CALL ON SHARES**

53. Subject to the terms of the allotment the Directors may from time to
time make calls upon the Shareholders in respect of any monies unpaid on their Shares (whether in respect of par value or premium), and
each Shareholder shall (subject to receiving at least fourteen (14) days' notice specifying the time or times of payment) pay to the Company
at the time or times so specified the amount called on the Shares. A call may be revoked or postponed as the Directors may determine.
A call may be required to be paid by instalments. A person upon whom a call is made shall remain liable for calls made upon them notwithstanding
the subsequent transfer of the Shares in respect of which the call was made.

54. A call shall be deemed to have been made at the time when the resolution
of the Directors authorising such call was passed.

55. The joint holders of a Share shall be jointly and severally liable to
pay all calls in respect thereof.

56. If a call remains unpaid after it has become due and payable, the person
from whom it is due shall pay interest on the amount unpaid from the day it became due and payable until it is paid at such rate as the
Directors may determine, but the Directors may waive payment of the interest wholly or in part.

57. An amount payable in respect of a Share on allotment or at any fixed
date, whether on account of the par value of the Share or premium or otherwise, shall be deemed to be a call and if it is not paid all
the provisions of these Articles shall apply as if that amount had become due and payable by virtue of a call.

58. The Directors may issue Shares with different terms as to the amount
and times of payment of calls, or the interest to be paid.

59. The Directors may, if they think fit, receive an amount from any Shareholder
willing to advance all or any part of the monies uncalled and unpaid upon any Shares held by such Shareholder, and may (until the amount
would otherwise become payable) pay interest at such rate as may be agreed upon between the Directors and the Shareholder paying such
amount in advance.

60. No such amount paid in advance of calls shall entitle the Shareholder
paying such amount to any portion of a dividend declared in respect of any period prior to the date upon which such amount would, but
for such payment, become payable.

**FORFEITURE OF SHARES**

61. If a call remains unpaid after it has become due and payable the Directors
may give to the person from whom it is due not less than fourteen (14) clear days' notice requiring payment of the amount unpaid together
with any interest which may have accrued. The notice shall specify where payment is to be made and shall state that if the notice is not
complied with the Shares in respect of which the call was made will be liable to be forfeited.

62. If the notice is not complied with any Share in respect of which it
was given may, before the payment required by the notice has been made, be forfeited by a resolution of the Directors. Such forfeiture
shall include all dividends or other monies declared payable in respect of the forfeited Share and not paid before the forfeiture.

63. A forfeited Share may be sold, re-allotted or otherwise disposed of
on such terms and in such manner as the Directors think fit and at any time before a sale, re-allotment or disposition the forfeiture
may be cancelled on such terms as the Directors think fit. Where for the purposes of its disposal a forfeited Share is to be transferred
to any person the Directors may authorise some person to execute an instrument of transfer of the Share in favour of that person.

64. A person any of whose Shares have been forfeited shall cease to be a
Shareholder in respect of them and shall surrender to the Company for cancellation the certificate for the Shares forfeited and shall
remain liable to pay to the Company all monies which at the date of forfeiture were payable by such person to the Company in respect of
those Shares together with interest, but such person's liability shall cease if and when the Company shall have received payment in full
of all monies due and payable by such person in respect of those Shares.

65. A certificate in writing under the hand of one Director or officer of
the Company that a Share has been forfeited on a specified date shall be conclusive evidence of the fact as against all persons claiming
to be entitled to the Share. The certificate shall (subject to the execution of any instrument of transfer) constitute a good title to
the Share and the person to whom the Share is disposed of shall not be bound to see to the application of the purchase money, if any,
nor shall such person's title to the Share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture,
sale or disposal of the Share.

66. The provisions of these Articles as to forfeiture shall apply in the
case of non-payment of any sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on account of the par
value of the Share or by way of premium as if it had been payable by virtue of a call duly made and notified.

**ALTERATION OF SHARE CAPITAL**

67. The Company may from time to time by Ordinary Resolution increase its
share capital by such sum to be divided into Shares of such amounts as the resolution shall prescribe.

68. All new Shares shall be subject to the provisions of these Articles
with reference to transfer, transmission and otherwise.

69. Subject to the Companies Act, the Company may by Special Resolution
from time to time reduce its share capital in any way, and in particular, without prejudice to the generality of the foregoing power,
may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cancel any paid-up share capital which is lost, or which is not represented by available assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay off any paid-up share capital which is in excess of the requirements of the Company,

and may, if and so far as is necessary, alter the Memorandum by reducing the amounts of its share capital and of its Shares accordingly.

70. The Company may from time to time by Ordinary Resolution alter (without
reducing) its share capital by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consolidating and dividing all or any of its share capital into Shares of larger amount than its existing
Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) sub-dividing its Shares, or any of them, into Shares of smaller amount than that fixed by the Memorandum
so, however, that in the sub-division the proportion between the amount paid and the amount, if any, unpaid on each reduced Share shall
be the same as it was in the case of the Share from which the reduced Share is derived; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) cancelling any Shares which, at the date of the passing of the Ordinary Resolution, have not been taken,
or agreed to be taken by any person, and diminishing the amount of its authorised share capital by the amount of the Shares so cancelled.

**GENERAL MEETINGS**

71. The Directors may proceed to convene a general meeting whenever they
think fit, including, without limitation, for the purposes of considering a liquidation of the Company, and they shall convene a general
meeting on the requisition of the Shareholders holding at the date of the deposit of the requisition not less than one-half of such of
the paid up capital of the Company as at the date of the deposit carries the right of voting at general meetings.

72. The requisition:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) must be in writing and state the objects of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) must be signed by each requisitionist and deposited at the Registered Office; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) may consist of several documents in like form each signed by one or more requisitionists.

73. If the Directors do not within ten (10) days from the date of the deposit
of the requisition duly proceed to convene a general meeting, the requisitionists, or any of them representing more than one-half of the
total voting rights of all of them, may themselves convene a general meeting, but any meeting so convened shall not be held after the
expiration of three months after the expiration of the said ten (10) days.

74. A general meeting convened as aforesaid by requisitionists shall be
convened in the same manner as nearly as possible as that in which general meetings are convened by the Directors. A general meeting may
be convened in the Cayman Islands or at such other location, as the Directors think fit.

**NOTICE OF GENERAL MEETINGS**

75. Five (5) calendar days' notice at least specifying the place, the day
and the hour of any general meeting and the general nature of the business to be conducted at the general meeting, shall be given in the
manner hereinafter mentioned to such persons as are under these Articles or the conditions of issue of the Shares held by them entitled
to receive notices from the Company. If the Directors determine that prompt Shareholder action is advisable, they may shorten the notice
period for any general meeting to such period as the Directors consider reasonable.

76. A general meeting shall, notwithstanding that it is called by shorter
notice than that specified in the preceding Article, be deemed to have been duly called with regard to the length of notice if it is so
agreed by all the Shareholders entitled to attend and vote thereat.

77. In every notice calling a general meeting, there shall appear with reasonable
prominence a statement that a Shareholder entitled to attend and vote either (i) is entitled to appoint one or more proxies to attend
such meeting and vote instead of such Shareholder and that a proxy need not also be a Shareholder or (ii) has appointed a proxy who, unless
such appointment is revoked, will attend such meeting and vote on behalf of such Shareholder.

78. The accidental omission to give notice to, or the non-receipt of notice
by, any person entitled to receive notice shall not invalidate the proceedings at any general meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

79. No business shall be transacted at any general meeting unless a quorum
is present. Save as otherwise provided in these Articles a quorum shall be the presence, in person or by proxy, of one or more persons
holding at least twenty (20) per cent in par value of the issued Shares which confer the right to attend and vote thereat.

80. Save as otherwise provided for in these Articles, if within half an
hour from the time appointed for the meeting a quorum is not present, the meeting, if convened on the requisition of or by Shareholders,
shall be dissolved. In any other case it shall stand adjourned to the same day in the next week, at the same time and place or to such
other day and at such other time and place as the Directors may determine and if at such adjourned meeting a quorum is not present within
fifteen (15) minutes from the time appointed for holding the meeting, the Shareholders present shall be a quorum.

81. A person may, with the consent of the Directors, participate at a general
meeting by means of telephone, video or similar communication equipment by way of which all persons participating in such meeting can
hear each other and such participation shall be deemed to constitute presence in person at such meeting.

82. The Chairperson (if any) or, if absent, the Deputy Chairperson (if any)
of the Board of Directors, or, failing them, some other Director nominated by the Directors shall preside as Chairperson at every general
meeting, but if at any meeting neither the Chairperson nor the Deputy Chairperson nor such other Director be present within fifteen (15)
minutes after the time appointed for holding the meeting, or if neither of them be willing to act as Chairperson, the Directors present
shall choose some Director present to be Chairperson or if no Directors be present, or if all the Directors present decline to take the
chair, the Shareholders present shall choose some Shareholder present to be Chairperson.

83. The Chairperson may with the consent of any meeting at which a quorum
is present (and shall if so directed by the meeting) adjourn the meeting from time to time and from place to place but no business shall
be transacted at any adjourned meeting except business which might lawfully have been transacted at the meeting from which the adjournment
took place. When a meeting is adjourned for fourteen (14) days or more, five (5) calendar days' notice at the least specifying the place,
the day and the hour of the adjourned meeting shall be given as in the case of the original meeting but it shall not be necessary to specify
in such notice the nature of the business to be transacted at the adjourned meeting. Save as aforesaid, it shall not be necessary to give
any notice of an adjournment or of the business to be transacted at an adjourned meeting.

84. The Directors may cancel or postpone any duly convened general meeting
at any time prior to such meeting, except for general meetings requisitioned by the Shareholders in accordance with these Articles, for
any reason or for no reason, upon notice in writing to Shareholders. A postponement may be for a stated period of any length or indefinitely
as the Directors may determine.

85. At any general meeting, a resolution put to the vote of the meeting
shall be decided by a poll and not on a show of hands.

86. A poll shall be taken in such manner and at such place as the Chairperson
may direct (including the use of a ballot or voting papers, or tickets) and the result of a poll shall be deemed to be the resolution
of the meeting. The Chairperson may appoint scrutineers and may adjourn the meeting to some place and time fixed by the Chairperson for
the purpose of declaring the result of the poll.

87. In the case of an equality of votes, the Chairperson of the meeting
at which the poll is taken shall not be entitled to a second or casting vote.

**VOTES OF SHAREHOLDERS**

88. Subject to any rights or restrictions attached to any Shares, on a poll
every holder of Shares, present in person or by proxy and entitled to vote thereon, shall be entitled to one (1) vote for each Share held
by them.

89. In the case of joint holders of a Share, the vote of the senior holder
who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders, and for
this purpose seniority shall be determined by the order in which the names stand in the Register of Members in respect of the Shares.

90. A Shareholder who has appointed special or general attorneys or a Shareholder
who is subject to a disability may vote on a poll, by such Shareholder's attorney, committee, receiver, curator bonis or other person
in the nature of a committee, receiver, or curator bonis appointed by a court and such attorney, committee, receiver, curator bonis or
other person may on a poll vote by proxy; provided that such evidence as the Directors may require of the authority of the person claiming
to vote shall, unless otherwise waived by the Directors, have been deposited at the Registered Office not less than forty-eight (48) hours
before the time for holding the meeting or adjourned meeting at which such person claims to vote.

91. No objection shall be raised to the qualification of any voter except
at the meeting or adjourned meeting at which the vote objected to is given or tendered, and every vote not disallowed at such meeting
shall be valid for all purposes. Any such objection made in due time shall be referred to the Chairperson of the meeting, whose decision
shall be final and conclusive.

92. On a poll votes may be given either personally or by proxy and a Shareholder
entitled to more than one vote need not, if the Shareholder votes, use all their votes or cast all the votes the Shareholder uses in the
same way.

93. The instrument appointing a proxy shall be in writing under the hand
of the appointor or of the appointor's attorney duly authorised in writing, or if the appointor is a corporation, either under its common
seal or under the hand of an officer or attorney so authorised.

94. Any person (whether a Shareholder or not) may be appointed to act as
a proxy. A Shareholder may appoint more than one proxy to attend on the same occasion.

95. The instrument appointing a proxy and the power of attorney or other
authority (if any) under which it is signed, or a certified copy of such power or authority, must be deposited at the Registered Office,
or at such other place as is specified for that purpose in the notice of meeting or in the instrument of proxy issued by the Company,
no later than the time appointed for holding the meeting or adjourned meeting; provided that the Chairperson of the meeting may in the
Chairperson's discretion accept an instrument of proxy sent by fax, email or other electronic means.

96. An instrument of proxy shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be in any common form or in such other form as the Directors may approve;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be deemed to confer authority to vote on any amendment of a resolution put to the general meeting for
which it is given as the proxy thinks fit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subject to its terms, be valid for any adjournment of the general meeting for which it is given.

97. The Directors may at the expense of the Company send to the Shareholders
instruments of proxy (with or without prepaid postage for their return) for use at any general meeting, either in blank or nominating
in the alternative any one or more of the Directors or any other persons. If for the purpose of any meeting invitations to appoint as
proxy a person or one of a number of persons specified in the invitations are issued at the expense of the Company, such invitations shall
be issued to all (and not to some only) of the Shareholders entitled to be sent a notice of the meeting and to vote thereat by proxy.

98. A vote given in accordance with the terms of an instrument of proxy
shall be valid notwithstanding the death or insanity of the principal or the revocation of the instrument of proxy, or of the authority
under which the instrument of proxy was executed, provided that no intimation in writing of such death, insanity, revocation or transfer
shall have been received by the Company at the Registered Office before commencement of the meeting or adjourned meeting at which the
instrument of proxy is used.

99. Anything which under these Articles a Shareholder may do by proxy that
Shareholder may also do by a duly appointed attorney. The provisions of these Articles relating to proxies and instruments appointing
proxies apply, *mutatis mutandis*, to any such attorney and the instrument appointing that attorney.

100. Any Shareholder which is a corporation or partnership may, by a resolution
of its directors or other governing body, authorise such person as it thinks fit to act as its representative at any meeting or meetings
of the Company. The person so authorised shall be entitled to exercise the same powers on behalf of such corporation or partnership as
the corporation or partnership could exercise if it were a Shareholder who was an individual and such corporation or partnership shall
for the purposes of these Articles be deemed to be present in person at any such meeting if a person so authorised is present.

**WRITTEN RESOLUTIONS OF SHAREHOLDERS**

101. A resolution in writing signed by all the Shareholders for the time
being entitled to receive notice of, attend and vote at a general meeting shall be as valid and effective as a resolution passed at a
general meeting duly convened and held and may consist of several documents in the like form each signed by one or more of the Shareholders.

**DIRECTORS**

102. Unless otherwise determined by the Company by Ordinary Resolution, the
minimum number of Directors shall be one and the maximum number of Directors shall be unlimited. The first Director(s) shall be determined
in writing by, or appointed by a resolution of, the subscriber(s) to the Memorandum.

103. A Director need not be a Shareholder but shall be entitled to receive
notice of and attend all general meetings.

104. The Company may, by Ordinary Resolution, appoint any person to be a
Director and may in like manner remove any Director and may appoint another person in the Director's stead. Without prejudice to the power
of the Company by Ordinary Resolution to appoint a person to be a Director, the Board of Directors, so long as a quorum of Directors remains
in office, shall have the power at any time and from time to time to appoint any person to be a Director so as to fill a casual vacancy
or otherwise.

105. Each Director shall be entitled to such remuneration as approved by
the Board of Directors and this may be in addition to such remuneration as may be payable under any other Article. Such remuneration shall
be deemed to accrue from day to day. The Directors and the Secretary may also be paid all travelling, hotel and other expenses properly
incurred by them in attending and returning from meetings of the Directors or any committee of the Directors or general meetings or in
connection with the business of the Company. The Directors may, in addition to such remuneration as aforesaid, grant special remuneration
to any Director who, being called upon, shall perform any special or extra services to or at the request of the Company.

106. Each Director shall have the power to nominate another Director or any
other person to act as alternate Director in the Director's place at any meeting of the Directors at which the Director is unable to be
present and at the Director's discretion to remove such alternate Director. On such appointment being made the alternate Director shall
(except as regards the power to appoint an alternate Director) be subject in all respects to the terms and conditions existing with reference
to the other Directors and each alternate Director, whilst acting in the place of an absent Director, shall exercise and discharge all
the functions, powers and duties of the Director being represented. Any Director who is appointed as alternate Director shall be entitled
at a meeting of the Directors to cast a vote on behalf of their appointor in addition to the vote to which such Director is entitled in
their own capacity as a Director, and shall also be considered as two Directors for the purpose of making a quorum of Directors. Any person
appointed as an alternate Director shall automatically vacate such office as an alternate Director if and when the Director by whom the
alternate Director has been appointed vacates their office of Director. The remuneration of an alternate Director shall be payable out
of the remuneration of the Director appointing such alternate Director and shall be agreed between them.

107. Every instrument appointing an alternate Director shall be in such common
form as the Directors may approve.

108. The appointment and removal of an alternate Director shall take effect
when lodged at the Registered Office or delivered at a meeting of the Directors.

109. The office of a Director shall be vacated in any of the following events
namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Director resigns their office by notice in writing signed by such Director and left at the Registered
Office;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Director becomes bankrupt or makes any arrangement or composition with such Director's creditors
generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Director dies or is found to be or becomes of unsound mind;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Director ceases to be a Director by virtue of, or becomes prohibited from being a Director by reason
of, an order made under any provisions of any law or enactment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if the Director is removed from office by notice addressed to such Director at their last known address
and signed by all of the co-Directors (not being less than two in number); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Director is removed from office by Ordinary Resolution.

**TRANSACTIONS WITH DIRECTORS**

110. A Director may hold any other office or place of profit under the Company
(other than the office of Auditor) in conjunction with their office of Director on such terms as to tenure of office and otherwise as
the Directors may determine.

111. No Director or intending Director shall be disqualified by their office
from contracting with the Company either as vendor, purchaser or otherwise, nor shall any such contract or any contract or arrangement
entered into by or on behalf of the Company in which any Director is in any way interested be liable to be avoided, nor shall any Director
so contracting or being so interested be liable to account to the Company for any profit realised by any such contract or arrangement
by reason of such Director holding that office or of the fiduciary relationship thereby established, but the nature of the Director's
interest must be declared by such Director at the meeting of the Directors at which the question of entering into the contract or arrangement
is first taken into consideration, or if the Director was not at the date of that meeting interested in the proposed contract or arrangement,
then at the next meeting of the Directors held after such Director becomes so interested, and in a case where the Director becomes interested
in a contract or arrangement after it is made, then at the first meeting of the Directors held after such Director becomes so interested.

112. In the absence of some other material interest than is indicated below,
provided a Director who is in any way, whether directly or indirectly, interested in a contract or proposed contract with the Company
declares (whether by specific or general notice) the nature of their interest at a meeting of the Directors that Director may vote in
respect of any contract or proposed contract or arrangement notwithstanding that such Director may be interested therein and if such Director
does so their vote shall be counted and such Director may be counted in the quorum at any meeting of the Directors at which any such contract
or proposed contract or arrangement shall come before the meeting for consideration.

113. Where proposals are under consideration concerning the appointment (including
fixing or varying the terms of appointment) of two or more Directors to offices or employments with the Company or any company in which
the Company is interested, such proposals may be divided and considered in relation to each Director separately and in such cases each
of the Directors concerned shall be entitled to vote (and be counted in the quorum) in respect of each resolution except that concerning
the Director's own appointment.

114. Any Director may act independently or through the Director's firm in
a professional capacity for the Company, and the Director or the firm shall be entitled to remuneration for professional services as if
the Director were not a Director, provided that nothing herein contained shall authorise a Director or the Director's firm to act as Auditor
to the Company.

115. Any Director may continue to be or become a director, managing director,
manager or other officer or shareholder of any company promoted by the Company or in which the Company may be interested, and no such
Director shall be accountable for any remuneration or other benefits received by the Director as a director, managing director, manager
or other officer or shareholder of any such other company. The Directors may exercise the voting power conferred by the shares in any
other company held or owned by the Company or exercisable by them as directors of such other company, in such manner in all respects as
they think fit (including the exercise thereof in favour of any resolution appointing themselves or any of them directors, managing directors
or other officers of such company, or voting or providing for the payment of remuneration to the directors, managing directors or other
officers of such company).

**POWERS OF DIRECTORS**

116. The business of the Company shall be managed by the Directors, who may
exercise all such powers of the Company as are not by the Companies Act or by these Articles required to be exercised by the Company in
general meeting, subject nevertheless to any regulations of these Articles, to the Companies Act, and to such regulations being not inconsistent
with the aforesaid regulations or provisions as may be prescribed by the Company in general meeting, but no regulations made by the Company
in general meeting shall invalidate any prior act of the Directors which would have been valid if such regulations had not been made.
The general powers given by this Article shall not be limited or restricted by any special authority or power given to the Directors by
any other Article.

117. The Directors may from time to time and at any time by power of attorney
appoint any company, firm or person or any fluctuating body of persons, whether nominated directly or indirectly by the Directors, to
be the attorney or attorneys of the Company for such purposes and with such powers authorities and discretions (not exceeding those vested
in or exercisable by the Directors under these Articles) and for such period and subject to such conditions as they may think fit, and
any such appointment may contain such provisions for the protection and convenience of persons dealing with any such attorneys as the
Directors may think fit, and may also authorise any such attorney to sub-delegate all or any of the powers, authorities and discretions
vested in such attorney. The Directors may also appoint any person to be the agent of the Company for such purposes and with such powers,
authorities and discretions (not exceeding those vested in or exercisable by the Directors under these Articles) and for such period and
on such conditions as they determine, including authority for the agent to delegate all or any of their powers.

118. All cheques, promissory notes, drafts, bills of exchange and other negotiable
or transferable instruments drawn by the Company, and all receipts for monies paid to the Company shall be signed, drawn, accepted, endorsed
or otherwise executed, as the case may be, in such manner as the Directors shall from time to time by resolution determine.

**PROCEEDINGS OF DIRECTORS**

119. The Directors may meet together for the dispatch of business, adjourn
and otherwise regulate their meetings, as they think fit. Questions and matters arising at any meeting shall be determined by a majority
of votes. In the case of an equality of votes, the Chairperson shall not have a second or casting vote. A Director may, and the Secretary
on the requisition of a Director shall, at any time summon a meeting of the Directors.

120. A Director or Directors may participate in any meeting of the Board
of Directors, or of any committee appointed by the Board of Directors of which such Director or Directors are members, by means of telephone,
video or similar communication equipment by way of which all persons participating in such meeting can hear each other and such participation
shall be deemed to constitute presence in person at the meeting.

121. The quorum necessary for the transaction of the business of the Directors
may be fixed by the Directors and, unless so fixed, shall be two, if there are two or more Directors, and shall be one if there is only
one Director.

122. The continuing Directors or a sole continuing Director may act notwithstanding
any vacancies in their number, but if and so long as the number of Directors is reduced below the minimum number fixed by or in accordance
with these Articles the continuing Directors or Director may act for the purpose of filling up vacancies in their number, or of summoning
general meetings, but not for any other purpose. If there be no Directors or Director able or willing to act, then any two Shareholders,
if there are two or more Shareholders, or the sole Shareholder, if there is only one shareholder, may summon a general meeting for the
purpose of appointing Directors.

123. The Directors may from time to time elect and remove a Chairperson and,
if they think fit, a Deputy Chairperson and determine the period for which they respectively are to hold office. The Chairperson or, failing
them, the Deputy Chairperson shall preside at all meetings of the Directors, but if there be no Chairperson or Deputy Chairperson, or
if at any meeting the Chairperson or Deputy Chairperson be not present within five (5) minutes after the time appointed for holding the
same, the Directors present may choose one of their number to be Chairperson of the meeting.

124. A meeting of the Directors for the time being at which a quorum is present
shall be competent to exercise all powers and discretions for the time being exercisable by the Directors.

125. Without prejudice to the powers conferred by these Articles, the Directors
may delegate any of their powers to committees consisting of such member or members of their body as they think fit. Any committee so
formed shall, in the exercise of the powers so delegated, conform to any regulations that may be imposed on them by the Directors. The
Directors may, by power of attorney or otherwise, appoint any person to be an agent of the Company on such condition as the Directors
may determine, provided that the delegation is not to the exclusion of their own powers.

126. The meetings and proceedings of any such committee consisting of two
or more Directors shall be governed by the provisions of these Articles regulating the meetings and proceedings of the Directors so far
as the same are applicable and are not superseded by any regulations made by the Directors under the preceding Article.

127. The Directors may appoint such officers as they consider necessary on
such terms, at such remuneration and to perform such duties, and subject to such provisions as to disqualification and removal as the
Directors may think fit. Unless otherwise specified in the terms of the officer's appointment an officer may be removed by resolution
of the Directors or Shareholders.

128. All acts done by any meeting of Directors, or of a committee of Directors
or by any person acting as a Director, shall, notwithstanding it be afterwards discovered that there was some defect in the appointment
of any such Director or person acting as aforesaid, or that they or any of them were disqualified, or had vacated office, or were not
entitled to vote, be as valid as if every such person had been duly appointed, and was qualified and had continued to be a Director and
had been entitled to vote.

129. The Directors shall cause minutes to be made of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the names of the Directors present at each meeting of the Directors and of any committee of Directors;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all resolutions and proceedings of all meetings of the Company and of the Directors and of any committee
of Directors.

Any such minutes, if purporting to be signed by the Chairperson of the meeting at which the proceedings took place, or by the Chairperson of the next succeeding meeting, shall, until the contrary be proved, be conclusive evidence of the proceedings.

**WRITTEN RESOLUTIONS OF DIRECTORS**

130. A resolution in writing signed by all the Directors for the time being
entitled to attend and vote at a meeting of the Directors (an alternate Director being entitled to sign such a resolution on behalf of
their appointor) shall be as valid and effective as a resolution passed at a meeting of the Directors duly convened and held and may consist
of several documents in the like form each signed by one or more of the Directors (or their alternates).

**PRESUMPTION OF ASSENT**

131. A Director who is present at a meeting of the Board of Directors at
which action on any Company matter is taken shall be presumed to have assented to the action taken unless the Director's dissent shall
be entered in the minutes of the meeting or unless the Director shall file their written dissent from such action with the person acting
as the secretary of the meeting before the adjournment thereof or shall forward such dissent by registered mail to such person immediately
after the adjournment of the meeting. Such right to dissent shall not apply to a Director who voted in favour of such action.

**BORROWING POWERS**

132. The Directors may exercise all the powers of the Company to borrow money
and hypothecate, mortgage, charge or pledge its undertaking, property, and assets or any part thereof, and to issue debentures, debenture
stock or other securities, whether outright or as collateral security for any debt liability or obligation of the Company or of any third
party.

**SECRETARY**

133. The Directors may appoint any person to be a Secretary who shall hold
office for such term, at such remuneration and upon such conditions and with such powers as they think fit. Any Secretary so appointed
by the Directors may be removed by the Directors or by the Company by Ordinary Resolution. Anything required or authorised to be done
by or to the Secretary may, if the office is vacant or there is for any other reason no Secretary capable of acting, be done by or to
any assistant or deputy Secretary or if there is no assistant or deputy Secretary capable of acting, by or to any officer of the Company
authorised generally or specially in that behalf by the Directors, provided that any provisions of these Articles requiring or authorising
a thing to be done by or to a Director and the Secretary shall not be satisfied by its being done by or to the same person acting both
as Director and as, or in the place of, the Secretary.

134. No person shall be appointed or hold office as Secretary who is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sole Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a corporation the sole director of which is the sole Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the sole director of a corporation which is the sole Director.

**THE SEAL**

135. The Directors shall provide for the safe custody of the Seal and the
Seal shall never be used except by the authority of a resolution of the Directors or of a committee of the Directors authorised by the
Directors in that behalf. The Directors may keep for use outside the Cayman Islands a duplicate Seal. The Directors may from time to time
as they see fit (subject to the provisions of these Articles relating to share certificates) determine the persons and the number of such
persons in whose presence the Seal or the facsimile thereof shall be used, and until otherwise so determined the Seal or the duplicate
thereof shall be affixed in the presence of any one Director or the Secretary, or of some other person duly authorised by the Directors.

**Dividends, Distributions and Reserves**

136. Subject to the Companies Act, these Articles, and the special rights
attaching to Shares of any class, the Directors may, in their absolute discretion, declare dividends and distributions on Shares in issue
and authorise payment of the dividends or distributions out of the funds of the Company lawfully available therefor. No dividend or distribution
shall be paid except out of the realised or unrealised profits of the Company, or out of the Share Premium Account, or as otherwise permitted
by the Companies Act.

137. Except as otherwise provided by the rights attached to Shares, or as
otherwise determined by the Directors, all dividends and distributions in respect of Shares shall be declared and paid according to the
par value of the Shares that a Shareholder holds. If any Share is issued on terms providing that it shall rank for dividend or distribution
as from a particular date, that Share shall rank for dividend or distribution accordingly.

138. The Directors may deduct and withhold from any dividend or distribution
otherwise payable to any Shareholder all sums of money (if any) then payable by the Shareholder to the Company on account of calls or
otherwise or any monies which the Company is obliged by law to pay to any taxing or other authority.

139. The Directors may declare that any dividend or distribution be paid
wholly or partly by the distribution of specific assets and in particular of shares, debentures or securities of any other company or
in any one or more of such ways and, where any difficulty arises in regard to such distribution, the Directors may settle the same as
they think expedient and in particular may issue fractional Shares and fix the value for distribution of such specific assets or any part
thereof and may determine that cash payments shall be made to any Shareholder upon the basis of the value so fixed in order to adjust
the rights of all Shareholders and may vest any such specific assets in trustees as may seem expedient to the Directors.

140. Any dividend, distribution, interest or other monies payable in cash
in respect of Shares may be paid by wire transfer to the holder or by cheque or warrant sent through the post directed to the registered
address of the holder or, in the case of joint holders, to the registered address of the holder who is first named on the Register of
Members or to such person and to such address as such holder or joint holders may in writing direct. Every such cheque or warrant shall
(unless the Directors in their sole discretion otherwise determine) be made payable to the order of the person to whom it is sent. Any
one of two or more joint holders may give effectual receipts for any dividends, bonuses, or other monies payable in respect of the Share
held by them as joint holders.

141. Any dividend or distribution which cannot be paid to a Shareholder and/or
which remains unclaimed after six (6) months from the date of declaration of such dividend or distribution may, in the discretion of the
Directors, be paid into a separate account in the Company's name, provided that the Company shall not be constituted as a trustee in respect
of that account and the dividend or distribution shall remain as a debt due to the Shareholder. Any dividend or distribution which remains
unclaimed after a period of six years from the date of declaration of such dividend or distribution shall be forfeited and shall revert
to the Company.

142. No dividend or distribution shall bear interest against the Company.

**SHARE PREMIUM ACCOUNT**

143. The Directors shall establish an account on the books and records of
the Company to be called the Share Premium Account and shall carry to the credit of such account from time to time a sum equal to the
amount or value of the premium paid on the issue of any Share.

**ACCOUNTS**

144. The Directors shall cause proper books of account to be kept with respect
to all sums of money received and expended by the Company and the matters in respect of which the receipt or expenditure takes place,
all sales and purchases of goods by the Company and the assets and liabilities of the Company. Proper books shall not be deemed to be
kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the Company's affairs and
to explain its transactions.

145. The books of account shall be kept at the Registered Office or at such
other place as the Directors think fit, and shall always be open to inspection by the Directors.

146. The Board of Directors shall from time to time determine whether and
to what extent and at what time and places and under what conditions or articles the accounts and books of the Company or any of them
shall be open to the inspection of Shareholders not being Directors, and no Shareholder (not being a Director) shall have any right of
inspection of any account or book or document of the Company except as conferred by law or authorised by the Board of Directors or by
resolution of the Shareholders.

**AUDIT**

147. The accounts relating to the Company's affairs shall be audited in such
manner as may be determined from time to time by resolution of the Shareholders or failing any such determination, by the Board of Directors,
or failing any determination as aforesaid, shall not be audited.

**NOTICES**

148. Any notice or document may be served by the Company on any Shareholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) personally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by registered post or courier to that Shareholder's address as appearing in the Register of Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by cable, telex, facsimile, e-mail or any other electronic means should the Directors deem it appropriate.

149. In the case of joint holders of a Share, all notices shall be given
to that one of the joint holders whose name stands first in the Register of Members in respect of the joint holding, and notice so given
shall be sufficient notice to all the joint holders.

150. Any Shareholder present, either personally or by proxy, at any meeting
of the Company shall for all purposes be deemed to have received due notice of such meeting and, where requisite, of the purposes for
which such meeting was convened.

151. Any summons, notice, order or other document required to be sent to
or served upon the Company, or upon any officer of the Company may be sent or served by leaving the same or sending it through the post
in a prepaid letter envelope or wrapper, addressed to the Company or to such officer at the Registered Office.

152. Where a notice or other document is sent by registered post, service
of that notice or other document shall be deemed to be effected by properly addressing, pre-paying and posting an envelope containing
it, and that notice or other document shall be deemed to have been received on the third day (not including Saturdays or Sundays or public
holidays) following the day on which it was posted. Where a notice or other document is sent by courier, service of that notice or other
document shall be deemed to be effected by delivery of the notice or other document to a courier company, and that notice or other document
shall be deemed to have been received on the fifth day (not including Saturdays or Sundays or public holidays in the Cayman Islands) following
the day on which it was delivered to the courier company. Where a notice or other document is sent by cable, telex or facsimile, service
of that notice or other document shall be deemed to be effected by properly addressing and sending it, and that notice or other document
shall be deemed to have been received on the same day that it was transmitted. Where a notice or other document is sent by email, service
of that notice or other document shall be deemed to be effected by transmitting the email to the email address provided by the intended
recipient and that notice or other document shall be deemed to have been received on the same day that it was sent, and it shall not be
necessary for the receipt of the email to be acknowledged by the recipient.

153. Any notice or document delivered or sent by post to or left at the registered
address of any Shareholder in pursuance of these Articles shall notwithstanding that such Shareholder be then dead, insane, bankrupt or
dissolved, and whether or not the Company has notice of such death, insanity, bankruptcy or dissolution, be deemed to have been duly served
in respect of any Share registered in the name of such Shareholder as sole or joint holder, unless the Shareholder's name shall at the
time of the service of the notice or document, have been removed from the Register of Members as the holder of the Share, and such service
shall for all purposes be deemed a sufficient service of such notice or document on all persons interested (whether jointly with or as
claiming through or under such Shareholder) in the Share.

**WINDING UP AND FINAL DISTRIBUTION OF ASSETS**

154. The Directors may present a winding up petition on behalf of the Company
without the sanction of a resolution of the Shareholders passed at a general meeting.

155. If the Company shall be wound up the liquidator shall apply the assets
of the Company in satisfaction of creditors' claims in such manner and order as such liquidator thinks fit.

156. If the Company shall be wound up, and the assets available for distribution
amongst the Shareholders shall be insufficient to repay the whole of the share capital, such assets shall be distributed so that, as nearly
as may be, the losses shall be borne by the Shareholders in proportion to the par value of the Shares held by them. If in a winding up
the assets available for distribution amongst the Shareholders shall be more than sufficient to repay the whole of the share capital at
the commencement of the winding up, the surplus shall be distributed amongst the Shareholders in proportion to the par value of the Shares
held by them at the commencement of the winding up subject to a deduction from those Shares in respect of which there are monies due of
all monies payable to the Company for unpaid calls or otherwise. This Article is without prejudice to the rights of the holders of Shares
issued upon special terms and conditions.

157. If the Company shall be wound up (whether the liquidation is voluntary,
under supervision or by the Court) the liquidator may, with the authority of a Special Resolution, divide among the Shareholders in specie
the whole or any part of the assets of the Company, and whether or not the assets shall consist of property of a single kind, and may
for such purposes set such value as the liquidator deems fair upon any one or more class or classes of property, and may determine how
such division shall be carried out as between the Shareholders. The liquidator may, with the like authority, vest any part of the assets
in trustees upon such trusts for the benefit of Shareholders as the liquidator, with the like authority, shall think fit, and the liquidation
of the Company may be closed and the Company dissolved, but so that no Shareholder shall be compelled to accept any Shares in respect
of which there is liability.

**INDEMNITY**

158. Every Director or officer of the Company shall be indemnified out of
the assets of the Company against any liability incurred by that Director or officer as a result of any act or failure to act in carrying
out their functions other than such liability (if any) that the Director or officer may incur by their own actual fraud or wilful default.
No such Director or officer shall be liable to the Company for any loss or damage in carrying out their functions unless that liability
arises through the actual fraud or wilful default of such Director or officer. References in this Article to actual fraud or wilful default
mean a finding to such effect by a competent court in relation to the conduct of the relevant party.

159. The Directors shall have the power to purchase and maintain insurance
for the benefit of any person who is or was a Director or officer of the Company indemnifying them against any liability which may lawfully
be insured against by the Company.

**DISCLOSURE**

160. Any Director, officer or authorised agent of the Company shall, if lawfully
required to do so under the laws of any jurisdiction to which the Company is subject or in compliance with the rules of any stock exchange
upon which the Company's Shares are listed or in accordance with any contract entered into by the Company, be entitled to release
or disclose any information in their possession regarding the affairs of the Company including, without limitation, any information contained
in the Register of Members.

**CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE**

161. The Directors may fix in advance a date as the record date for any determination
of Shareholders entitled to notice of or to vote at a meeting of the Shareholders and for the purpose of determining the Shareholders
entitled to receive payment of any dividend the Directors may either before or on the date of declaration of such dividend fix a date
as the record date for such determination.

162. If no record date is fixed for the determination of Shareholders entitled
to notice of or to vote at a meeting of Shareholders or Shareholders entitled to receive payment of a dividend, the date on which notice
of the meeting is mailed or the date on which the resolution of the Directors declaring such dividend is adopted, as the case may be,
shall be the record date for such determination of Shareholders. When a determination of Shareholders entitled to vote at any meeting
has been made in the manner provided in the preceding Article, such determination shall apply to any adjournment thereof.

**REGISTRATION BY WAY OF CONTINUATION**

163. The Company may by Special Resolution resolve to be registered by way
of continuation in a jurisdiction outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
registered or existing. The Directors may cause an application to be made to the Registrar of Companies to deregister the Company in the
Cayman Islands or such other jurisdiction in which it is for the time being incorporated, registered or existing and may cause all such
further steps as they consider appropriate to be taken to effect the transfer by way of continuation of the Company.

**FINANCIAL YEAR**

164. The Directors shall determine the financial year of the Company and
may change the same from time to time. Unless they determine otherwise, the financial year shall end on 31 December in each year.

**AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION**

165. The Company may from time to time alter or add to these Articles or
alter or add to the Memorandum with respect to any objects, powers or other matters specified therein by passing a Special Resolution
in the manner prescribed by the Companies Act.

**CAYMAN ISLANDS DATA PROTECTION**

166. The Company is a "data controller" for the purposes of the
Data Protection Act (as amended) (the DPA). By virtue of subscribing for and holding Shares in
the Company, Shareholders provide the Company with certain information (Personal Data) that constitutes
"personal data" under the DPA. Personal Data includes, without limitation, the following information relating to a Shareholder
and/or any natural person(s) connected with a Shareholder (such as a Shareholder's individual directors, members and/or beneficial owner(s)):
name, residential address, email address, corporate contact information, other contact information, date of birth, place of birth, passport
or other national identifier details, national insurance or social security number, tax identification, bank account details and information
regarding assets, income, employment and source of funds.

167. The Company processes such Personal Data for the purposes of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) performing contractual rights and obligations (including under the Memorandum and these Articles);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) complying with legal or regulatory obligations (including those relating to anti-money laundering and
counter-terrorist financing, preventing and detecting fraud, sanctions, automatic exchange of tax information, requests from governmental,
regulatory, tax and law enforcement authorities, beneficial ownership and the maintenance of statutory registers); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the legitimate interests pursued by the Company or third parties to whom Personal Data may be transferred,
including to manage and administer the Company, to send updates, information and notices to Shareholders or otherwise correspond with
Shareholders regarding the Company, to seek professional advice (including legal advice), to meet accounting, tax reporting and audit
obligations, to manage risk and operations and to maintain internal records.

168. The Company transfers Personal Data to certain third parties who process
the Personal Data on the Company's behalf, including third party service providers that it appoints or engages to assist with its management,
operation, administration and legal, governance and regulatory compliance. In certain circumstances, the Company may be required by law
or regulation to transfer Personal Data and other information with respect to one or more Shareholders to a governmental, regulatory,
tax or law enforcement authority. That authority may, in turn, exchange this information with another governmental, regulatory, tax or
law enforcement authority established in or outside the Cayman Islands.

## Exhibit 3.3

**Exhibit 3.3**

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated May 27, 2026, and effective on [●])

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated May 27, 2026, and effective on [●])

1. The name of the Company is Ticketplus Ltd.

2. The registered office of the Company is at the offices of Mourant Governance
Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, PO Box 1348, Grand Cayman KY1-1108, Cayman Islands or at such other place as
the Directors may from time to time decide.

3. The objects for which the Company is established are unrestricted and
the Company shall have full power and authority to carry out any object not prohibited by law as provided by section 7(4) of the Companies
Act.

4. The Company shall have and be capable of exercising all the functions
of a natural person of full capacity irrespective of any question of corporate benefit as provided by section 27(2) of the Companies Act.

5. Nothing in the preceding paragraphs shall be deemed to permit the Company
to carry on the business of a bank or trust company without being licensed in that behalf under the provisions of the Banks and Trust
Companies Act (as amended) of the Cayman Islands, or to carry on insurance business from within the Cayman Islands or the business of
an insurance manager, agent, sub-agent or broker without being licensed in that behalf under the provisions of the Insurance Act (as amended)
of the Cayman Islands, or to carry on the business of company management without being licensed in that behalf under the provisions of
the Companies Management Act (as amended) of the Cayman Islands.

6. The Company will not trade in the Cayman Islands with any person, firm
or corporation except in furtherance of the business of the Company carried on outside the Cayman Islands, provided that nothing in this
Memorandum of Association shall be construed as to prevent the Company from effecting and concluding contracts in the Cayman Islands,
and exercising in the Cayman Islands all of its powers necessary for the carrying on of business outside the Cayman Islands.

7. The liability of each member is limited to the amount from time to time
unpaid on such member's shares.

8. The authorised share capital of the Company is US$35,000 divided into
300,000,000 ordinary shares with a par value of US$0.0001 each and 50,000,000 preferred shares with a par value of US$0.0001 each, with
the power for the Company, insofar as is permitted by law and the Articles, to redeem, purchase or redesignate any of its shares and to
increase or reduce the said share capital subject to the Companies Act and the Articles and to issue any part of its capital, whether
original, redeemed or increased with or without any preference, priority or special privilege or subject to any postponement of rights
or to any conditions or restrictions and so that unless the conditions of issue shall otherwise expressly declare every issue of shares
whether declared to be preference or otherwise shall be subject to the powers hereinbefore contained.

9. The Company may exercise the power contained in section 206 of the Companies
Act to deregister in the Cayman Islands and be registered by way of continuation in another jurisdiction.

10. Capitalised terms that are not defined in this Memorandum bear the meanings
given to those terms in the Articles.

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated May 27, 2026, and effective on [●])

**<u>**TABLE OF CONTENTS**</u>**

---

| | |
|:---|:---|
| **ARTICLE** | **PAGE** |
| TABLE A | 1 |
| DEFINITIONS AND INTERPRETATION | 1 |
| COMMENCEMENT OF BUSINESS | 5 |
| SITUATION OF REGISTERED OFFICE | 6 |
| SHARES | 6 |
| ISSUE OF SHARES | 6 |
| REDEMPTION, PURCHASE AND SURRENDER OF SHARES | 7 |
| TREASURY SHARES | 7 |
| MODIFICATION OF RIGHTS | 8 |
| COMMISSION ON SALES OF SHARES | 9 |
| SHARE CERTIFICATES | 9 |
| TRANSFER AND TRANSMISSION OF SHARES | 9 |
| LIEN | 11 |
| CALL ON SHARES | 11 |
| FORFEITURE OF SHARES | 12 |
| ALTERATION OF SHARE CAPITAL | 12 |
| GENERAL MEETINGS | 13 |
| NOTICE OF GENERAL MEETINGS | 13 |
| PROCEEDINGS AT GENERAL MEETINGS | 14 |
| VOTES OF SHAREHOLDERS | 16 |
| PROXIES | 16 |
| CLEARING HOUSES | 17 |
| WRITTEN RESOLUTIONS OF SHAREHOLDERS NOT PERMITTED | 17 |
| DIRECTORS | 18 |
| TRANSACTIONS WITH DIRECTORS | 19 |
| POWERS OF DIRECTORS | 20 |
| PROCEEDINGS OF DIRECTORS | 21 |
| WRITTEN RESOLUTIONS OF DIRECTORS | 23 |
| PRESUMPTION OF ASSENT | 23 |
| BORROWING POWERS | 23 |
| SECRETARY | 23 |
| THE SEAL | 23 |
| DIVIDENDS, DISTRIBUTIONS AND RESERVES | 24 |
| SHARE PREMIUM ACCOUNT | 25 |
| CAPITALISATION | 25 |
| ACCOUNTS | 26 |
| AUDIT | 26 |
| NOTICES | 27 |
| WINDING UP AND FINAL DISTRIBUTION OF ASSETS | 28 |
| INDEMNITY | 28 |
| DISCLOSURE | 29 |
| BUSINESS OPPORTUNITIES | 29 |
| CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE | 30 |
| REGISTRATION BY WAY OF CONTINUATION | 30 |
| FINANCIAL YEAR | 30 |
| AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION | 30 |
| CAYMAN ISLANDS DATA PROTECTION | 30 |
| EXCLUSIVE JURISDICTION AND FORUM | 31 |

---

i

**COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**TICKETPLUS LTD.**

(adopted pursuant to special resolutions of the Company dated May 27, 2026, and effective on [●])

**TABLE A**

1. In these Articles, the regulations contained in Table A in the First
Schedule to the Companies Act (as defined below) do not apply except insofar as they are repeated or contained in these Articles.

**DEFINITIONS AND INTERPRETATION**

2. In these Articles the following words and expressions shall have the
meanings set out below save where the context otherwise requires:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliate** | in respect of a person, any other person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such person, and (a) in the case of a natural person, shall include, without limitation, such person's spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and sisters-in-law, whether by blood, marriage or adoption or anyone residing in such person's home, a trust for the benefit of any of the foregoing, a company, partnership or any natural person or entity wholly or jointly owned by any of the foregoing and (b) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity (and **Affiliated** shall have a corresponding meaning); |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Applicable Law** | with respect to any person, all applicable provisions of all constitutions, treaties, statutes, laws (including the common law), codes, rules, regulations, ordinances or orders of any Governmental Authority, and any orders, decisions, injunctions, awards and decrees of or agreements with any Governmental Authority; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Articles** | these articles of association of the Company, as amended and/or restated from time to time by Special Resolution; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Audit Committee** | the audit committee of the board of directors of the Company established pursuant to Article 158, or any successor audit committee; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Auditors** | the auditor or auditors for the time being of the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Board of Directors** | the Directors assembled as a board or assembled as a committee appointed by that board; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Chairperson** | the chairperson of the Board of Directors for the time being; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Class** or **Classes** | any class or classes of Shares as may from time to time be issued by the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Communication Facilities** | video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or any other video-communications, internet or online conferencing application or telecommunications facilities; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Companies Act** | the Companies Act (as amended) of the Cayman Islands; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Company** | the above-named company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Company's Website** | the main corporate/investor relations website of the Company, the address or domain name of which has been disclosed in any registration statement filed by the Company with the SEC in connection with its initial public offering, or which has otherwise been notified to Shareholders; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**debenture** | debenture stock, mortgages, bonds and any other such securities of the Company whether constituting a charge on the assets of the Company or not; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Designated Stock Exchange** | any national securities exchange or automated system on which the Company's securities are listed, including, but not limited to, NASDAQ Global Market, The New York Stock Exchange or any over-the-counter (OTC) market; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Designated Stock Exchange Rules** | the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the listing of any Shares or other securities of the Company on the Designated Stock Exchange; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Directors** | the directors of the Company for the time being; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Dividend** | any dividend (whether interim or final) resolved to be paid on Shares pursuant to these Articles; |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DPA** | has the meaning given in Article 189; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electronic Record** | has the same meaning as in the Electronic Transactions Act; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electronic Transactions Act** | the Electronic Transactions Act (as amended) of the Cayman Islands; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Governmental Authority** | any nation or government or any province or state or any other political subdivision thereof, or any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court, tribunal, government authority, agency, department, board, commission or instrumentality or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organisation; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Independent Director** | has the meaning prescribed pursuant to the Designated Stock Exchange Rules; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IPO** | the Company's initial public offering of securities; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Memorandum** | the memorandum of association of the Company, as amended and/or restated from time to time by Special Resolution; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary Resolution** | a resolution passed by a simple majority of the votes of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy, at a general meeting and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled (and, for the avoidance of doubt, does not include a unanimous written resolution); |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary Shares** | the ordinary shares with a par value of US$0.0001 each in the capital of the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**paid up** | paid up as to the par value and any premium payable in respect of the issue of any Shares and includes credited as paid up; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**person** | any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having separate legal personality) or any of them as the context so requires; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Personal Data** | has the meaning given in Article 189; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Preferred Shares** | the preferred shares with a par value of US$0.0001 each in the capital of the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Register of Members** | the register of Shareholders to be kept pursuant to these Articles and the Companies Act; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Registered Office** | the registered office of the Company for the time being; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Seal** | the common seal of the Company (if adopted) including any duplicate seal; |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SEC** | the United States Securities and Exchange Commission or any other federal agency for the time being administering the Securities Act; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Secretary** | any person appointed by the Directors to perform any of the duties of the secretary of the Company, including a joint, assistant or deputy secretary; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Securities Act** | the Securities Act of 1933 of the United States, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series** | a series of a Class as may from time to time be issued by the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Share** | a share in the capital of the Company or any Class or Series (including, without limitation, an Ordinary Share or a Preferred Share) and includes a fraction of a share in the Company; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Share Premium Account** | the share premium account established in accordance with these Articles and the Companies Act; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shareholder** | any person registered in the Register of Members as the holder of one or more Shares of the Company and, where two or more persons are so registered as the joint holders of such Shares, the person whose name stands first in the Register of Members as one of such joint holders; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**signed** | includes an electronic signature and a signature or representation of a signature affixed by mechanical means; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Special Resolution** | has the same meaning as in section 60(1)(a) of the Companies Act, being a resolution passed by a majority of not less than two-thirds of the votes cast at a general meeting of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of which notice specifying the intention to propose the resolution as a special resolution has been duly given and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled (and, for the avoidance of doubt, does not include a unanimous written resolution); |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Treasury Shares** | Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the Company and not cancelled; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**US Exchange Act** | the United States Securities Exchange Act of 1934, as amended, or any similar United States federal statute and the rules and regulations of the SEC thereunder, all as the same shall be in effect at the time; and |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Virtual Meeting** | any general meeting of the Shareholders (or any meeting of the holders of any Class of Shares) at which the Shareholders (and any other permitted participants of such meeting, including without limitation the chairperson of the meeting and any Directors) are permitted to attend and participate solely by means of Communication Facilities. |

---

3. In these Articles, unless there be something in the subject or context
inconsistent with such construction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words importing the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words importing a gender shall include other genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words importing persons only shall include companies, partnerships, trusts, associations and other bodies
of persons, whether corporate or not;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the word "may" shall be construed as permissive and the word "shall" shall be construed
as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the word "year" shall mean calendar year, the word "quarter" shall mean calendar quarter
and the word "month" shall mean calendar month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a reference to a "dollar" or "$" is a reference to the legal currency of the United
States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the words "including", "include", "in particular" or any similar expression
are to be construed without limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a reference to any enactment includes a reference to any modification or re-enactment thereof for the
time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a reference to any meeting (whether of the Directors, a committee appointed by the Board of Directors
or the Shareholders or any class of Shareholders) includes any adjournment of that meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the term "clear days", in relation to a period of notice, means that period excluding the day
when the notice is received or deemed to be received and the day for which it is given or on which it is to take effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) sections 8 and 19 of the Electronic Transactions Act shall not apply; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) a reference to "written" or "in writing" includes a reference to all modes of representing
or reproducing words in visible form, including in the form of an Electronic Record.

4. Subject to the two preceding Articles, any words defined in the Companies
Act shall, if not inconsistent with the subject or context, bear the same meaning in these Articles.

5. The table of contents to and the headings in these Articles are for
convenience of reference only and are to be ignored in construing these Articles.

**COMMENCEMENT OF BUSINESS**

6. The business of the Company may be commenced as soon after incorporation
as the Board of Directors shall see fit.

**SITUATION OF REGISTERED OFFICE**

7. The Registered Office shall be at such address in the Cayman Islands
as the Directors shall from time to time determine. The Company, in addition to the Registered Office, may establish and maintain such
other offices and places of business and agencies in such places as the Directors may from time to time determine.

8. The Directors in each year shall prepare or cause to be prepared an
annual return and declaration setting forth the particulars required by the Companies Act in respect of exempted companies and deliver
a copy thereof to the Registrar of Companies in the Cayman Islands.

**SHARES**

9. The Directors may impose such restrictions as they think necessary on
the offer and sale of any Shares.

10. The Directors may in their absolute discretion refuse to accept any
application for Shares and may accept any application in whole or in part.

11. The Company may on any issue of Shares deduct any sales charge or subscription
fee from the amount subscribed for the Shares.

12. No person shall be recognised by the Company as holding any Share upon
any trust, and the Company shall not be bound by or recognise (even when having notice thereof) any equitable, contingent, future or partial
interest in any Share, or (except as otherwise provided by these Articles or as required by law) any other right in respect of any Share
except an absolute right thereto in the registered holder, provided that, notwithstanding the foregoing, the Company shall be entitled
to recognise any such interests as shall be determined by the Directors.

13. The Directors shall keep or cause to be kept a Register of Members as
required by and in any manner permitted by the Companies Act (including, without limitation, section 40B of the Companies Act) at such
place or places as the Directors may from time to time determine, and in the absence of any such determination, the Register of Members
shall be kept at the Registered Office.

14. The Company shall not issue Shares to bearer.

**ISSUE OF SHARES**

15. Subject to the provisions, if any, in the Memorandum (and to any direction
that may be given by the Company in general meeting), these Articles, and, where applicable, the Designated Stock Exchange Rules, the
SEC and/or any other competent regulatory authority or otherwise under Applicable Law, without prejudice to any rights attached to any
existing Shares, all Shares for the time being unissued shall be under the control of the Directors who may without the approval of Shareholders
allot, issue, grant options over or otherwise dispose of Shares (including fractions of a Share) with or without preferred, deferred or
other rights or restrictions, whether in regard to dividend, voting, return of capital or otherwise and to such persons, at such times
and on such other terms as they think proper, and may also (subject to the Companies Act and these Articles) vary such rights, and for
such purposes the Directors may reserve an appropriate number of Shares for the time being unissued. No Share may be issued at a discount
except in accordance with the Companies Act.

16. The Company may issue rights, options, warrants or convertible securities
or securities of a similar nature conferring the right upon the holders thereof to subscribe for, purchase or receive any class of Shares
or other securities in the Company, upon such terms as the Directors may from time to time determine, and for such purposes the Directors
may reserve an appropriate number of Shares for the time being unissued.

17. Subject to Article 29, the Directors, or the Shareholders by Ordinary
Resolution, may authorise the division of Shares into any number of Classes and sub-classes and Series and sub-series and the different
Classes and sub-classes and Series and sub-series shall be authorised, established and designated (or re-designated as the case may be)
and the variations in the relative rights (including, without limitation, voting, dividend and redemption rights), restrictions, preferences,
privileges and payment obligations as between the different Classes and Series (if any) may be fixed and determined by the Directors or
the Shareholders by Ordinary Resolution.

18. The Directors may issue fractions of a Share and, if so issued, a fraction
of a Share shall be subject to and carry the corresponding fraction of liabilities (whether with respect to nominal or par value, premium,
calls or otherwise howsoever), limitations, preferences, privileges, qualifications, restrictions, rights (including without prejudice
to the foregoing generality, voting and participation rights) and other attributes of a Share. If more than one fraction of a Share is
issued to or acquired by the same Shareholder, such fractions shall be accumulated.

19. The premium arising on all issues of Shares shall be held in the Share
Premium Account established in accordance with these Articles.

20. Payment for Shares shall be made at such time and place and to such
person on behalf of the Company as the Directors may from time to time determine. Payment for any Shares shall be made in such currency
as the Directors may determine from time to time, provided that the Directors shall have the discretion to accept payment in any other
currency or in kind or a combination of cash and in kind.

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

21. Subject to the Companies Act and the Designated Stock Exchange Rules,
the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue Shares on terms that they are to be redeemed or are liable to be redeemed at the option of the Company
and/or the Shareholder on such terms and in such manner as the Directors may determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase its own Shares (including any redeemable Shares) on such terms and in such manner as the Directors
may determine and agree with the Shareholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make a payment in respect of the redemption or purchase of its own Shares in any manner authorised by
the Companies Act, including out of its capital; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) accept the surrender for no consideration of any paid up Share (including any redeemable Share) on such
terms and in such manner as the Directors may determine.

22. Unless the Directors determine otherwise, any Share in respect of which
notice of redemption has been given shall not be entitled to participate in the profits of the Company in respect of the period after
the date specified as the date of redemption in the notice of redemption.

23. The redemption, purchase or surrender of any Share shall not be deemed
to give rise to the redemption, purchase or surrender of any other Share.

24. The Directors may when making payments in respect of a redemption or
purchase of Shares, if authorised by the terms of issue of the Shares being redeemed or purchased or with the agreement of the holder
of such Shares, make such payment either in cash or in specie including, without limitation, interests in a special purpose vehicle holding
assets of the Company or holding entitlement to the proceeds of assets held by the Company or in a liquidating structure.

**TREASURY SHARES**

25. Shares that the Company purchases, redeems or acquires (by way of surrender
or otherwise) may, at the option of the Company, be cancelled immediately or held as Treasury Shares in accordance with the Companies
Act. In the event that the Directors do not specify that the relevant Shares are to be held as Treasury Shares, such Shares shall be cancelled.

26. No dividend may be declared or paid, and no other distribution (whether
in cash or otherwise) of the Company's assets (including any distribution of assets to Shareholders on a winding up) may be declared or
paid in respect of a Treasury Share.

27. The Company shall be entered in the Register of Members as the holder
of the Treasury Shares provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall not be treated as a Shareholder for any purpose and shall not exercise any right in
respect of the Treasury Shares, and any purported exercise of such a right shall be void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company and shall not
be counted in determining the total number of issued shares at any given time, whether for the purposes of these Articles or the Companies
Act, save that an allotment of Shares as fully paid bonus shares in respect of Treasury Shares is permitted and Shares allotted as fully
paid bonus shares in respect of Treasury Shares shall be treated as Treasury Shares.

28. Treasury Shares may be disposed of by the Company on any terms and conditions
as determined by the Directors. The Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms as they
think proper (including for nil consideration).

**MODIFICATION OF RIGHTS**

29. If at any time the share capital of the Company is divided into different
Classes of Shares, the rights attached to any Class (unless otherwise provided by the terms of issue of the Shares of that Class) may,
whether or not the Company is being wound up, be varied or abrogated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) without the consent of the holders of the issued Shares of that Class where such variation is considered
by the Directors not to have a material adverse effect upon such rights; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise, only with the consent in writing of the holders of at least two-thirds of the issued Shares
of that Class, or with the approval of a resolution passed by a majority at least two-thirds of the votes cast at a separate meeting of
the holders of the issued Shares of that Class.

For the avoidance of doubt, the Directors reserve the right, notwithstanding that any such variation may not have a material adverse effect, to obtain consent from the holders of Shares of the relevant Class.

30. For the purposes of a separate Class meeting, the Directors may treat
two or more or all the Classes of Shares as forming one Class of Shares if the Directors consider that such Class of Shares would be affected
in the same way by the proposals under consideration, but in any other case shall treat them as separate Classes of Shares.

31. To any such meeting all the provisions of these Articles relating to
general meetings shall apply *mutatis mutandis*, except that the necessary quorum shall be one or more persons holding or representing
by proxy at least one-third of all voting rights attaching to the issued and outstanding Shares of the Class (whether at a separate Class
meeting or at any adjournment thereof).

32. The rights conferred upon the holders of the Shares of any Class issued
with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the Shares of that Class, be deemed
to be varied or abrogated by the creation or issue of further Shares ranking in priority to, *pari passu* with or subsequent to those
Shares, the creation or issue of Shares having preferred or other rights, any variation of the rights conferred upon the holders of Shares
of any other Class, or the redemption or purchase of any Shares of any Class by the Company.

**COMMISSION ON SALES OF SHARES**

33. The Company may, in so far as the Companies Act permits, pay a commission
to any person in consideration of that person subscribing or agreeing to subscribe (whether absolutely or conditionally) or procuring
or agreeing to procure subscriptions (whether absolutely or conditionally) for any Shares. Such commissions may be satisfied by the payment
of cash and/or the issue of fully or partly paid-up Shares. The Company may also on any issue of Shares pay such brokerage as may be lawful.

**SHARE CERTIFICATES**

34. The Shares will be issued in fully registered, book-entry form. A Shareholder
shall only be entitled to a share certificate if the Directors resolve that share certificates shall be issued. Share certificates representing
Shares, if any, shall be in such form as the Directors may determine. Share certificates shall be signed by one or more Directors or other
person(s) authorised by the Directors. The Directors may authorise certificates to be issued with the authorised signature(s) affixed
by mechanical process. All certificates for Shares shall be consecutively numbered or otherwise identified and shall specify the Shares
to which they relate. All certificates surrendered to the Company for transfer shall be cancelled and, subject to these Articles, no new
certificate shall be issued until the former certificate representing a like number of relevant Shares shall have been surrendered and
cancelled.

35. If a share certificate is defaced, worn out lost or destroyed it may
be renewed on payment of such fee, if any, and on such terms if any, as to evidence and obligations to indemnify the Company as the Board
of Directors may determine and (in the case of defacement or wearing out) upon delivery of the old certificate.

36. Every share certificate sent in accordance with these Articles will
be sent at the risk of the Shareholder or other person entitled to the certificate. The Company will not be responsible for any share
certificate lost or delayed in the course of delivery.

37. In the event that Shares are held jointly by several persons, any request
may be made by any one of the joint holders and if so made shall be binding on all of the joint holders.

38. Every share certificate of the Company shall bear legends required under
Applicable Law, including the Securities Act and/or US Exchange Act.

**TRANSFER AND TRANSMISSION OF SHARES**

39. Subject to these Articles and the Designated Stock Exchange Rules or
any applicable rules of the SEC or securities laws, a Shareholder may transfer all or any of that Shareholder's Shares.

40. The instrument of transfer of any Share shall be in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any form prescribed by the Designated Stock Exchange; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise in any usual or common form or any other form as the Directors may determine, and shall be executed
by or on behalf of the transferor and if in respect of a nil or partly paid up Share, or if so required by the Directors, shall also be
executed on behalf of the transferee and shall be accompanied by the certificate (if any) of the Shares to which it relates and such other
evidence as the Directors may reasonably require to show the right of the transferor to make the transfer.

The transferor shall be deemed to remain the holder of a Share until the name of the transferee is entered in the Register of Members in respect of the relevant Shares.

41. Subject to the terms of issue thereof and the Designated Stock Exchange
Rules or any relevant rules of the SEC or securities laws (including, but not limited to, the Securities Act), the Directors may determine
to decline to register any transfer of Shares without assigning any reason therefor. If the Shares in question were issued in conjunction
with rights, options or warrants issued pursuant to these Articles on terms that one cannot be transferred without the other, the Directors
shall refuse to register the transfer of any such Share without evidence satisfactory to them of the like transfer of such option or warrant.

42. The registration and transfer of Shares may be suspended at such times
and for such periods as the Directors may from time to time determine, subject to the requirements of the Designated Stock Exchange Rules
(including as to notice).

43. All instruments of transfer which are registered shall be retained by
the Company, but any instrument of transfer which the Directors may decline to register shall (except in any case of fraud) be returned
to the person depositing the same.

44. Notwithstanding any other provision of these Articles, title to any
Shares listed on a stock exchange that is an "approved stock exchange" (as defined in the Companies Act) may be evidenced and
transferred in accordance with the laws applicable to, and the rules and regulations of, the relevant approved stock exchange that are
or shall be applicable to such listed Shares. For the purposes of this Article, the laws applicable to an approved stock exchange include
the laws of the jurisdiction under which the relevant approved stock exchange is established insofar as they would apply to an entity
established under such laws which has listed shares on such approved stock exchange.

45. In case of the death of a Shareholder, the survivors or survivor (where
the deceased was a joint holder) and the executors or administrators of the deceased where the deceased was the sole or only surviving
holder, shall be the only persons recognised by the Company as having title to the deceased's interest in the Shares, but nothing in this
Article shall release the estate of the deceased holder whether sole or joint from any liability in respect of any Share solely or jointly
held by the deceased.

46. Any guardian of an infant Shareholder and any curator bonis or other
legal representative of a Shareholder under legal disability and any person entitled to a share in consequence of the death or bankruptcy
of a Shareholder shall, upon producing such evidence of title as the Directors may require, have the right either to be registered as
the holder of the Share or to make such transfer thereof as the deceased or bankrupt Shareholder could have made, but the Directors shall
in either case have the same right to refuse or suspend registration as they would have had in the case of a transfer of the Shares by
the infant or by the deceased or bankrupt Shareholder before the death or bankruptcy or by the Shareholder under legal disability before
such disability.

47. A person so becoming entitled to a Share in consequence of the death
or bankruptcy of a Shareholder shall have the right to receive and may give a discharge for all dividends and other money payable or other
advantages due on or in respect of the Share, but such person shall not be entitled to receive notice of or to attend or vote at meetings
of the Company, or save as aforesaid, to any of the rights or privileges of a Shareholder unless and until such person shall be registered
as a Shareholder in respect of the Share provided always that the Directors may at any time give notice requiring any such person to elect
either to be registered or to transfer the Share and if the notice is not complied with within ninety (90) days the Directors may thereafter
withhold all dividends or other monies payable or other advantages due in respect of the Share until the requirements of the notice have
been complied with.

**LIEN**

48. The Company shall have a first and paramount lien on all Shares (whether
fully paid-up or not) registered in the name of a Shareholder (whether solely or jointly with others) for all debts, liabilities or engagements
to or with the Company (whether presently payable or not) by such Shareholder or the Shareholder's estate, either alone or jointly with
any other person, whether a Shareholder or not, but the Directors may at any time declare any Share to be wholly or in part exempt from
the provisions of this Article. The registration of a transfer of any such Share shall operate as a waiver of the Company's lien thereon.
The Company's lien on a Share shall also extend to any amount payable in respect of that Share.

49. The Company may sell, in such manner as the Directors think fit, any
Shares on which the Company has a lien, if a sum in respect of which the lien exists is presently payable, and is not paid within fourteen
(14) clear days after notice has been given to the holder of the Shares, or to the person entitled to it in consequence of the death or
bankruptcy of the holder, demanding payment and stating that if the notice is not complied with the Shares may be sold.

50. To give effect to any such sale the Directors may authorise any person
to execute an instrument of transfer of the Shares sold to, or in accordance with the directions of, the purchaser. The purchaser or the
purchaser's nominee shall be registered as the holder of the Shares comprised in any such transfer, and the purchaser shall not be bound
to see to the application of the purchase money, nor shall the purchaser's title to the Shares be affected by any irregularity or invalidity
in the sale or the exercise of the Company's power of sale under these Articles.

51. The net proceeds of such sale, after payment of costs, shall be applied
in payment of such part of the amount in respect of which the lien exists as is presently payable and any residue shall (subject to a
like lien for sums not presently payable as existed upon the Shares before the sale) be paid to the person entitled to the Shares at the
date of the sale.

**CALL ON SHARES**

52. Subject to the terms of the allotment the Directors may from time to
time make calls upon the Shareholders in respect of any monies unpaid on their Shares (whether in respect of par value or premium), and
each Shareholder shall (subject to receiving at least fourteen (14) days' notice specifying the time or times of payment) pay to the Company
at the time or times so specified the amount called on the Shares. A call may be revoked or postponed as the Directors may determine.
A call may be required to be paid by instalments. A person upon whom a call is made shall remain liable for calls made upon them notwithstanding
the subsequent transfer of the Shares in respect of which the call was made.

53. A call shall be deemed to have been made at the time when the resolution
of the Directors authorising such call was passed.

54. The joint holders of a Share shall be jointly and severally liable to
pay all calls in respect thereof.

55. If a call remains unpaid after it has become due and payable, the person
from whom it is due shall pay interest on the amount unpaid from the day it became due and payable until it is paid at such rate as the
Directors may determine, but the Directors may waive payment of the interest wholly or in part.

56. An amount payable in respect of a Share on allotment or at any fixed
date, whether on account of the par value of the Share or premium or otherwise, shall be deemed to be a call and if it is not paid all
the provisions of these Articles shall apply as if that amount had become due and payable by virtue of a call.

57. The Directors may issue Shares with different terms as to the amount
and times of payment of calls, or the interest to be paid.

58. The Directors may, if they think fit, receive an amount from any Shareholder
willing to advance all or any part of the monies uncalled and unpaid upon any Shares held by such Shareholder, and may (until the amount
would otherwise become payable) pay interest at such rate as may be agreed upon between the Directors and the Shareholder paying such
amount in advance.

59. No such amount paid in advance of calls shall entitle the Shareholder
paying such amount to any portion of a dividend declared in respect of any period prior to the date upon which such amount would, but
for such payment, become payable.

**FORFEITURE OF SHARES**

60. If a call remains unpaid after it has become due and payable the Directors
may give to the person from whom it is due not less than fourteen (14) clear days' notice requiring payment of the amount unpaid together
with any interest which may have accrued. The notice shall specify where payment is to be made and shall state that if the notice is not
complied with the Shares in respect of which the call was made will be liable to be forfeited.

61. If the notice is not complied with any Share in respect of which it
was given may, before the payment required by the notice has been made, be forfeited by a resolution of the Directors. Such forfeiture
shall include all dividends or other monies declared payable in respect of the forfeited Share and not paid before the forfeiture.

62. A forfeited Share may be sold, re-allotted or otherwise disposed of
on such terms and in such manner as the Directors think fit and at any time before a sale, re-allotment or disposition the forfeiture
may be cancelled on such terms as the Directors think fit. Where for the purposes of its disposal a forfeited Share is to be transferred
to any person the Directors may authorise some person to execute an instrument of transfer of the Share in favour of that person.

63. A person any of whose Shares have been forfeited shall cease to be a
Shareholder in respect of them and shall surrender to the Company for cancellation the certificate for the Shares forfeited and shall
remain liable to pay to the Company all monies which at the date of forfeiture were payable by such person to the Company in respect of
those Shares together with interest, but such person's liability shall cease if and when the Company shall have received payment in full
of all monies due and payable by such person in respect of those Shares.

64. A certificate in writing under the hand of one Director or officer of
the Company that a Share has been forfeited on a specified date shall be conclusive evidence of the fact as against all persons claiming
to be entitled to the Share. The certificate shall (subject to the execution of any instrument of transfer) constitute a good title to
the Share and the person to whom the Share is disposed of shall not be bound to see to the application of the purchase money, if any,
nor shall such person's title to the Share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture,
sale or disposal of the Share.

65. The provisions of these Articles as to forfeiture shall apply in the
case of non-payment of any sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on account of the par
value of the Share or by way of premium as if it had been payable by virtue of a call duly made and notified.

**ALTERATION OF SHARE CAPITAL**

66. The Company may from time to time by Ordinary Resolution increase its
share capital by such sum to be divided into Shares of such Classes and amounts, with such rights, priorities and privileges annexed thereto
as the resolution shall prescribe.

67. All new Shares shall be subject to the provisions of these Articles
with reference to transfer, transmission and otherwise.

68. Subject to the Companies Act, the Company may by Special Resolution
from time to time reduce its share capital in any way, and in particular, without prejudice to the generality of the foregoing power,
may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cancel any paid-up share capital which is lost, or which is not represented by available assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay off any paid-up share capital which is in excess of the requirements of the Company,

and may, if and so far as is necessary, alter the Memorandum by reducing the amounts of its share capital and of its Shares accordingly.

69. The Company may from time to time by Ordinary Resolution alter (without
reducing) its share capital by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consolidating and dividing all or any of its share capital into Shares of larger amount than its existing
Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) sub-dividing its Shares, or any of them, into Shares of smaller amount than that fixed by the Memorandum
so, however, that in the sub-division the proportion between the amount paid and the amount, if any, unpaid on each reduced Share shall
be the same as it was in the case of the Share from which the reduced Share is derived; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) cancelling any Shares which, at the date of the passing of the Ordinary Resolution, have not been taken,
or agreed to be taken by any person, and diminishing the amount of its authorised share capital by the amount of the Shares so cancelled.

**GENERAL MEETINGS**

70. For so long as any Shares are listed on a Designated Stock Exchange,
the Company shall to the extent required by the Designated Stock Exchange Rules in each year hold a general meeting as its annual general
meeting, and shall specify the meeting as such in the notices calling it, unless the Designated Stock Exchange Rules do not require the
holding of an annual general meeting. Any annual general meeting shall be held at such time and place as the Directors shall appoint in
accordance with the Designated Stock Exchange Rules. At these meetings the report of the Directors (if any) shall be presented.

71. All general meetings (other than annual general meetings) shall be called
extraordinary general meetings.

72. The Directors, the chief executive officer or the Chairperson of the
Board of Directors may proceed to call a general meeting whenever they think fit. For the avoidance of doubt, Shareholders shall not have
the ability to call general meetings except as expressly provided in Article 129.

73. Shareholders seeking to bring business before an annual general meeting
or to nominate candidates for election as Directors at an annual general meeting must deliver notice to the principal executive offices
of the Company not later than the close of business on the 30th day prior to the anniversary date of the immediately preceding annual
general meeting; provided, however, that if the Company's annual general meeting occurs on a date more than 30 days earlier or later than
the Company's preceding annual general meeting, then the Directors shall determine a date that is a reasonable period before the Company's
annual general meeting by which date the Shareholder's notice must be delivered, and shall publicise such date in a filing pursuant to
the US Exchange Act, or via press release. Such publication shall occur at least 10 days prior to the date set by the Directors.

**NOTICE OF GENERAL MEETINGS**

74. At least five (5) clear days' notice at least specifying the place,
the day and the hour of any general meeting, and in case of special business the general nature of such business (and in the case of an
annual general meeting specifying the meeting as such), shall be given in the manner hereinafter mentioned to such persons as are under
these Articles or the conditions of issue of the Shares held by them entitled to receive notices from the Company. If the Directors determine
that prompt Shareholder action is advisable, they may shorten the notice period for any general meeting to such period as the Directors
consider reasonable.

75. A general meeting shall, notwithstanding that it is called by shorter
notice than that specified in the preceding Article, be deemed to have been duly called with regard to the length of notice if it is so
agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a meeting called as the annual general meeting, by all the Shareholders entitled to attend
and vote thereat; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any other meeting by a majority in number of the Shareholders having a right to attend
and vote at the meeting, being a majority together holding not less than ninety-five per cent (95%) in nominal value of the issued Shares
giving that right.

76. In every notice calling a general meeting, there shall appear with reasonable
prominence a statement that a Shareholder entitled to attend and vote either (i) is entitled to appoint one or more proxies to attend
such meeting and vote instead of such Shareholder and that a proxy need not also be a Shareholder or (ii) has appointed a proxy who, unless
such appointment is revoked, will attend such meeting and vote on behalf of such Shareholder.

77. The accidental omission to give notice to, or the non-receipt of notice
by, any person entitled to receive notice shall not invalidate the proceedings at any general meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

78. All business shall be deemed special that is transacted at an extraordinary
general meeting, and also all business that is transacted at an annual general meeting with the exception of declaring or approving the
payment of dividends, the consideration of the accounts and balance sheet and the reports of the Directors and Auditors, the election
of Directors in the place of those retiring, the appointment of additional Directors, the fixing of the remuneration of the Directors
and the fixing of the remuneration of the Auditors.

79. No business shall be transacted at any general meeting unless a quorum
is present. Save as otherwise provided in these Articles a quorum shall be the presence, in person or by proxy, of one or more persons
holding Shares that represent at least one-third of all voting rights attaching to the issued and paid up Shares carrying the right to
attend and vote thereat.

80. Save as otherwise provided for in these Articles, if within half an
hour from the time appointed for the meeting a quorum is not present, the meeting shall stand adjourned to the same day in the next week,
at the same time and place or to such other day and at such other time and place as the Directors may determine and if at such adjourned
meeting a quorum is not present within fifteen (15) minutes from the time appointed for holding the meeting, the Shareholders present
shall be a quorum.

81. The Directors may, in their discretion, (i) permit attendance at and
participation in any general meeting of the Company by means of Communication Facilities and/or (ii) determine that any general meeting
shall, through the aid of Communication Facilities, be held in more than one place. Without limiting the generality of the foregoing,
the Directors may determine that any general meeting may be held as a Virtual Meeting. The notice of any general meeting at which Communication
Facilities will be utilised (including any Virtual Meeting) shall disclose the Communication Facilities that will be used, including the
procedures to be followed by any person who wishes to utilise such Communication Facilities for the purposes of attending, participating
in and/or voting at such meeting.

82. The Chairperson (if any) or, if absent, the deputy Chairperson (if any)
of the Board of Directors, or, failing them, some other Director nominated by the Directors shall preside as chairperson at every general
meeting, but if at any meeting neither the Chairperson nor the deputy Chairperson nor such other Director be present within fifteen (15)
minutes after the time appointed for holding the meeting, or if neither of them be willing to act as chairperson of the meeting, the Directors
present shall choose some Director present to be chairperson of the meeting or if no Directors be present, or if all the Directors present
decline to take the chair, the Shareholders present shall choose some Shareholder present to be chairperson of the meeting. The chairperson
of a general meeting from time to time may adopt such rules and regulations for the conduct of meetings as he or she sees fit.

83. The chairperson of any general meeting (including any Virtual Meeting)
shall be entitled to attend and participate at any such general meeting by means of Communication Facilities, and to act as the chairperson
of such general meeting, in which event the following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the chairperson of the meeting shall be deemed to be present at the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Communication Facilities are interrupted or fail for any reason to enable the chairperson of the
meeting to hear and be heard by all other persons participating in the meeting, then the other Directors present at the meeting shall
choose another Director present to act as chairperson of the meeting for the remainder of the meeting; provided that if no other Director
is present at the meeting, or if all the Directors present decline to take the chair, then the meeting shall be automatically adjourned
to the same day in the next week and at such time and place as shall be decided by the Board of Directors.

84. The chairperson of any general meeting may with the consent of any meeting
at which a quorum is present (and shall if so directed by the meeting) adjourn the meeting from time to time and from place to place but
no business shall be transacted at any adjourned meeting except business which might lawfully have been transacted at the meeting from
which the adjournment took place. The chairperson of any general meeting may adjourn such meeting without the consent of such meeting
if, in the chairperson's sole opinion, the chairperson considers it necessary to do so to: secure the orderly conduct or proceedings of
the meeting; or give all persons present in person or by proxy and having the right to speak and/or vote at such meeting, the ability
to do so, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which
the adjournment took place. When a meeting is adjourned for thirty (30) days or more, five (5) calendar days' notice at the least specifying
the place, the day and the hour of the adjourned meeting shall be given as in the case of the original meeting but it shall not be necessary
to specify in such notice the nature of the business to be transacted at the adjourned meeting. Save as aforesaid, it shall not be necessary
to give any notice of an adjournment or of the business to be transacted at an adjourned meeting.

85. The Directors may cancel or postpone any duly convened general meeting
for any reason or for no reason at any time prior to the time for holding such meeting or, if the meeting is adjourned, the time for holding
such adjourned meeting. The Directors shall give the Shareholders notice in writing of any cancellation or postponement. A postponement
may be for a stated period of any length or indefinitely as the Directors may determine.

86. At any general meeting, a resolution put to the vote of the meeting
shall be decided by poll and not on a show of hands.

87. A poll shall be taken in such manner as the chairperson of the meeting
directs, and the result of the poll shall be deemed to be the resolution of the meeting. If, through the aid of Communication Facilities,
the meeting is held in more than one place, the chairperson of the meeting may appoint scrutineers in more than one place, but if the
chairperson of the meeting considers that the poll cannot be monitored effectively at the meeting, the chairperson of the meeting may
adjourn the meeting to a place (or places), date and time at which the chairperson of the meeting believes it will be possible for the
poll to be monitored effectively.

88. In the case of an equality of votes, the chairperson of the meeting
at which the poll is taken shall not be entitled to a second or casting vote.

**VOTES OF SHAREHOLDERS**

89. Subject to any rights or restrictions attached to any Shares, on a poll
every holder of Shares, present in person or by proxy and entitled to vote thereon, shall be entitled to one (1) vote for each Share held
by them.

90. In the case of joint holders of a Share, the vote of the senior holder
who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders, and for
this purpose seniority shall be determined by the order in which the names stand in the Register of Members in respect of the Shares.

91. A Shareholder who has appointed special or general attorneys or a Shareholder
who is subject to a disability may vote on a poll, by such Shareholder's attorney, committee, receiver, curator bonis or other person
in the nature of a committee, receiver, or curator bonis appointed by a court and such attorney, committee, receiver, curator bonis or
other person may on a poll vote by proxy; provided that such evidence as the Directors may require of the authority of the person claiming
to vote shall, unless otherwise waived by the Directors, have been deposited at the Registered Office not less than forty-eight (48) hours
before the time for holding the meeting or adjourned meeting at which such person claims to vote.

92. No objection shall be raised to the qualification of any voter except
at the meeting or adjourned meeting at which the vote objected to is given or tendered, and every vote not disallowed at such meeting
shall be valid for all purposes. Any such objection made in due time shall be referred to the chairperson of the meeting, whose decision
shall be final and conclusive.

93. On a poll votes may be given either personally or by proxy and a Shareholder
entitled to more than one vote need not, if the Shareholder votes, use all their votes or cast all the votes the Shareholder uses in the
same way.

**PROXIES**

94. The instrument appointing a proxy shall be in writing under the hand
of the appointor or of the appointor's attorney duly authorised in writing, or if the appointor is a corporation, either under its common
seal or under the hand of an officer or attorney so authorised.

95. Any person (whether a Shareholder or not) may be appointed to act as
a proxy. Each Shareholder, other than a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)), may only appoint
one proxy on a poll.

96. The instrument appointing a proxy and the power of attorney or other
authority (if any) under which it is signed, or a certified copy of such power or authority, must be deposited:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the Registered Office, or at such other place as is specified for that purpose in the notice of meeting
or in the instrument of proxy issued by the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by such time (no later than the time appointed for holding the meeting or adjourned meeting) as is specified
in the notice convening the meeting or in any instrument of proxy sent out by the Company,

provided that the chairperson of the meeting may in the chairperson's discretion accept an instrument of proxy sent by fax, email or other electronic means and/or direct that an instrument of proxy shall be deemed to have been duly deposited. An instrument of proxy that is not deposited (or deemed to have been duly deposited) in the manner permitted shall be invalid.

97. An instrument of proxy shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be in any common form or in such other form as the Directors may approve;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be deemed to confer authority to vote on any amendment of a resolution put to the general meeting for
which it is given as the proxy thinks fit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subject to its terms, be valid for any adjournment of the general meeting for which it is given.

98. The Directors may at the expense of the Company send to the Shareholders
instruments of proxy (with or without prepaid postage for their return) for use at any general meeting, either in blank or nominating
in the alternative any one or more of the Directors or any other persons. If for the purpose of any meeting invitations to appoint as
proxy a person or one of a number of persons specified in the invitations are issued at the expense of the Company, such invitations shall
be issued to all (and not to some only) of the Shareholders entitled to be sent a notice of the meeting and to vote thereat by proxy.

99. A vote given in accordance with the terms of an instrument of proxy
shall be valid notwithstanding the death or insanity of the principal or the revocation of the instrument of proxy, or of the authority
under which the instrument of proxy was executed; provided that no intimation in writing of such death, insanity, revocation or transfer
shall have been received by the Company at the Registered Office before commencement of the meeting or adjourned meeting at which the
instrument of proxy is used.

100. Anything which under these Articles a Shareholder may do by proxy that
Shareholder may also do by a duly appointed attorney. The provisions of these Articles relating to proxies and instruments appointing
proxies apply, *mutatis mutandis*, to any such attorney and the instrument appointing that attorney.

101. Any Shareholder which is a corporation, partnership or other body corporate
may, by a resolution of its directors or other governing body, authorise such person as it thinks fit to act as its representative at
any meeting or meetings of the Company. The person so authorised shall be entitled to exercise the same powers on behalf of such corporation
or partnership as the corporation or partnership could exercise if it were a Shareholder who was an individual and such corporation or
partnership shall for the purposes of these Articles be deemed to be present in person at any such meeting if a person so authorised is
present.

**CLEARING HOUSES**

102. If a clearing house (or its nominee(s)), being a corporation, is a Shareholder
it may, by resolution of its directors or other governing body or by power of attorney, authorise such person or persons as it thinks
fit to act as its representative or representatives at any general meeting or at any meeting of any class of Shareholders provided that,
if more than one person is so authorised, the authorisation shall specify the number and Class of Shares in respect of which each such
person is so authorised. A person so authorised pursuant to this Article shall be entitled to exercise the same powers on behalf of the
clearing house (or its nominee) which that person represents as that clearing house (or its nominee) could exercise if it were an individual
Shareholder holding the number and Class of Shares specified in such authorisation.

**WRITTEN RESOLUTIONS OF SHAREHOLDERS NOT PERMITTED**

103. For the avoidance of doubt, Shareholders may only pass resolutions at
a general meeting duly convened and held, and not by way of resolutions in writing (whether unanimous or otherwise).

**DIRECTORS**

104. The Company shall at all times have not less than one Director. Subject
to the foregoing and the requirements of the Designated Stock Exchange Rules, the Directors by resolution of the Board of Directors may
impose any maximum or minimum number of Directors required to hold office at any time and vary such limits from time to time and, unless
and until any minimum or maximum number of Directors is so imposed, the minimum number of Directors shall be one and there shall be no
maximum. For so long as any of the Company's Shares are listed, the Board of Directors shall include such number of Independent Directors
as is required by the Designated Stock Exchange Rules.

105. A Director need not be a Shareholder but shall be entitled to receive
notice of and attend all general meetings.

106. Subject to any minimum or maximum number of Directors in force pursuant
to Article 104:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company may, by Ordinary Resolution, appoint any person to be a Director and may in like manner remove
any Director and may appoint another person in the Director's stead; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without prejudice to the power of the Company by Ordinary Resolution to appoint a person to be a Director,
the Board of Directors may appoint any person as a Director, whether to fill a casual vacancy on the Board or as an addition to the existing
Board, and may in like manner remove any Director.

107. For so long as any of the Shares are traded on a Designated Stock Exchange,
the Directors shall be divided into three (3) classes designated as Class I, Class II and Class III, respectively. Directors shall be
assigned to each class in accordance with a resolution or resolutions adopted by the Board of Directors. At the first annual general meeting
after the IPO, the term of office of the Class I Directors shall expire and Class I Directors shall be elected for a full term of three
(3) years. At the second annual general meeting after the IPO, the term of office of the Class II Directors shall expire and Class
II Directors shall be elected for a full term of three (3) years. At the third annual general meeting after the IPO, the term of office
of the Class III Directors shall expire and Class III Directors shall be elected for a full term of three (3) years. At each succeeding
annual general meeting, Directors shall be elected for a full term of three (3) years to succeed the Directors of the class whose terms
expire at such annual general meeting. Notwithstanding the foregoing provisions of this Article, each Director shall hold office until
the expiration of such Director's term, until their successor shall have been duly elected and qualified or until their earlier death,
resignation or removal. Any Director appointed by the Directors in accordance with Article 106(b) shall hold office for the remainder
of the full term of the class of Directors in which the new directorship was created or the vacancy occurred and until such Director's
successor shall have been duly elected and qualified or until their earlier resignation, death or removal. When the number of Directors
is increased or decreased, the Board of Directors shall, subject to Article 104, determine the class or classes to which the increased
or decreased number of Directors shall be apportioned; provided, however, that no decrease in the number of Directors constituting the
Board of Directors shall shorten the term of any incumbent Director.

108. Each Director shall be entitled to such remuneration as approved by
the Board of Directors and this may be in addition to such remuneration as may be payable under any provision of these Articles. Such
remuneration shall be deemed to accrue from day to day. The Directors and the Secretary may also be paid all travelling, hotel and other
expenses properly incurred by them in attending and returning from meetings of the Directors or any committee of the Directors or general
meetings or in connection with the business of the Company. The Directors may, in addition to such remuneration as aforesaid, grant special
remuneration to any Director who, being called upon, shall perform any special or extra services to or at the request of the Company.

109. Each Director shall have the power to appoint another Director or any
other person to act as alternate Director in the Director's place at any meeting of the Directors at which the Director is unable to be
present and at the Director's discretion to remove such alternate Director. On such appointment being made the alternate Director shall
(except as regards the power to appoint an alternate Director) be subject in all respects to the terms and conditions existing with reference
to the other Directors and each alternate Director, whilst acting in the place of an absent Director, shall exercise and discharge all
the functions, powers and duties of the Director being represented. Any Director who is appointed as alternate Director shall be entitled
at a meeting of the Directors to cast a vote on behalf of their appointor in addition to the vote to which such Director is entitled in
their own capacity as a Director, and shall also be considered as two Directors for the purpose of forming a quorum of Directors. Any
person appointed as an alternate Director shall automatically vacate such office as an alternate Director if and when the Director by
whom the alternate Director has been appointed vacates their office of Director. The remuneration of an alternate Director shall be payable
out of the remuneration of the Director appointing such alternate Director and shall be agreed between them.

110. Every instrument appointing an alternate Director shall be in such form
as the Directors may approve.

111. The appointment and removal of an alternate Director shall take effect
when lodged at the Registered Office or delivered at a meeting of the Directors.

112. The office of a Director shall be vacated in any of the following events,
namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Director resigns their office by notice in writing signed by that Director and delivered to the
Registered Office;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) was only appointed as a Director for a fixed term and such term expires;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Director is absent (for the avoidance of doubt, without being represented by proxy or an alternate
Director appointed by that Director) from three consecutive meetings of the Board of Directors without special leave of absence from the
Directors, and the Directors pass a resolution that the relevant Director has by reason of such absence vacated office;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Director becomes bankrupt or makes any arrangement or composition with such Director's creditors
generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if the Director dies or in the opinion of a registered medical practitioner by whom that Director is being
treated is or becomes of unsound mind;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Director ceases to be a Director by virtue of, or becomes prohibited from being a Director by reason
of, an order made under any provisions of Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) if the Director is removed from office by notice addressed to such Director at their last known address
and signed by all of the other Directors (not being less than two in number); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) if the Director is removed from office by Ordinary Resolution or by resolution of the Board of Directors.

**TRANSACTIONS WITH DIRECTORS**

113. A Director or alternate Director may hold any other office or place
of profit under the Company (other than the office of Auditor) in conjunction with their office of Director on such terms as to tenure
of office and otherwise as the Directors may determine.

114. No Director or intending Director shall be disqualified by their office
from contracting with the Company either as vendor, purchaser or otherwise, nor shall any such contract or any contract or arrangement
entered into by or on behalf of the Company in which any Director is in any way interested be liable to be avoided, nor shall any Director
so contracting or being so interested be liable to account to the Company for any profit realised by any such contract or arrangement
by reason of such Director holding that office or of the fiduciary relationship thereby established, but the nature of the Director's
interest must be declared by such Director at the meeting of the Directors at which the question of entering into the contract or arrangement
is first taken into consideration, or if the Director was not at the date of that meeting interested in the proposed contract or arrangement,
then at the next meeting of the Directors held after such Director becomes so interested, and in a case where the Director becomes interested
in a contract or arrangement after it is made, then at the first meeting of the Directors held after such Director becomes so interested.

115. In the absence of some other material interest than is indicated below,
provided a Director who is in any way, whether directly or indirectly, interested in a contract or proposed contract with the Company
declares (whether by specific or general notice) the nature of their interest at a meeting of the Directors, that Director may (subject
to the Designated Stock Exchange Rules) vote in respect of any contract or proposed contract or arrangement notwithstanding that the Director
may be interested therein and if such Director does so their vote shall be counted and such Director may be counted in the quorum at any
meeting of the Directors at which any such contract or proposed contract or arrangement shall come before the meeting for consideration.
A general notice given to the Directors by any Director to the effect that such Director is a member of any specified company or firm
and is to be regarded as interested in any contract which may thereafter be made with that company or firm shall be deemed a sufficient
declaration of interest in regard to any contract so made.

116. Where proposals are under consideration concerning the appointment (including
fixing or varying the terms of appointment) of two or more Directors to offices or employments with the Company or any company in which
the Company is interested, such proposals may be divided and considered in relation to each Director separately and in such cases each
of the Directors concerned shall be entitled to vote (and be counted in the quorum) in respect of each resolution except that concerning
the Director's own appointment.

117. Any Director may act independently or through the Director's firm in
a professional capacity for the Company, and the Director or the firm shall be entitled to remuneration for professional services as if
the Director were not a Director, provided that nothing herein contained shall authorise a Director or the Director's firm to act as Auditor
to the Company.

118. Any Director may continue to be or become a director, managing director,
manager or other officer or shareholder of any company promoted by the Company or in which the Company may be interested, and no such
Director shall be accountable for any remuneration or other benefits received by the Director as a director, managing director, manager
or other officer or shareholder of any such other company. The Directors may exercise the voting power conferred by the shares in any
other company held or owned by the Company or exercisable by them as directors of such other company, in such manner in all respects as
they think fit (including the exercise thereof in favour of any resolution appointing themselves or any of them directors, managing directors
or other officers of such company, or voting or providing for the payment of remuneration to the directors, managing directors or other
officers of such company).

**POWERS OF DIRECTORS**

119. The business of the Company shall be managed by the Directors, who may
exercise all such powers of the Company as are not by the Companies Act or by these Articles required to be exercised by the Company in
general meeting, subject nevertheless to any regulations of these Articles, to the Companies Act, and to such regulations being not inconsistent
with the aforesaid regulations or provisions as may be prescribed by the Company in general meeting, but no regulations made by the Company
in general meeting shall invalidate any prior act of the Directors which would have been valid if such regulations had not been made.
The general powers given by this Article shall not be limited or restricted by any special authority or power given to the Directors by
any other Article.

120. The Directors may from time to time and at any time by power of attorney
appoint any company, firm or person or any fluctuating body of persons, whether nominated directly or indirectly by the Directors, to
be the attorney or attorneys of the Company for such purposes and with such powers authorities and discretions (not exceeding those vested
in or exercisable by the Directors under these Articles) and for such period and subject to such conditions as they may think fit, and
any such appointment may contain such provisions for the protection and convenience of persons dealing with any such attorneys as the
Directors may think fit, and may also authorise any such attorney to sub-delegate all or any of the powers, authorities and discretions
vested in such attorney.

121. The Directors may also appoint any person to be the agent of the Company
for such purposes and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Directors under
these Articles) and for such period and on such conditions as they determine, including authority for the agent to delegate all or any
of their powers.

122. Subject to Applicable Law and the requirements of the Designated Stock
Exchange Rules, the Directors may, from time to time, adopt, institute, amend, modify or revoke the corporate governance policies or initiatives
of the Company, which shall set out the guiding principles and policies of the Company with respect to corporate governance related matters.

123. The Directors on behalf of the Company may pay a gratuity or pension
or allowance on retirement to any Director who has held any other salaried office or place of profit with the Company or to the Director's
widow or dependants and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension
or allowance.

124. The Directors shall have the authority to present a winding up petition
on behalf of the Company without the sanction of a resolution passed by the Company in general meeting.

125. All cheques, promissory notes, drafts, bills of exchange and other negotiable
or transferable instruments drawn by the Company, and all receipts for monies paid to the Company shall be signed, drawn, accepted, endorsed
or otherwise executed, as the case may be, in such manner as the Directors shall from time to time by resolution determine.

**PROCEEDINGS OF DIRECTORS**

126. The Directors may meet together for the dispatch of business, adjourn
and otherwise regulate their meetings, as they think fit. Questions and matters arising at any meeting shall be determined by a majority
of votes. In the case of an equality of votes, the Chairperson shall have a second or casting vote. A Director may, and the Secretary
on the requisition of a Director shall, at any time summon a meeting of the Directors.

127. A Director or Directors may participate in any meeting of the Board
of Directors, or of any committee appointed by the Board of Directors of which such Director or Directors are members, by means of Communication
Facilities and such participation shall be deemed to constitute presence in person at the meeting.

128. The quorum necessary for the transaction of the business of the Directors
may be fixed by the Directors and, unless so fixed, shall be a majority of the Directors then in office.

129. The continuing Directors or a sole continuing Director may act notwithstanding
any vacancies in their number, but if and so long as the number of Directors is reduced below any minimum number fixed by or in accordance
with these Articles the continuing Directors or Director may act for the purpose of filling up vacancies in their number, or of summoning
general meetings, but not for any other purpose. If there be no Directors or Director able or willing to act, then any two Shareholders,
if there are two or more Shareholders, or the sole Shareholder, if there is only one shareholder, may summon a general meeting for the
purpose of appointing Directors.

130. The Directors may from time to time elect and remove a Chairperson and,
if they think fit, a deputy Chairperson and determine the period for which they respectively are to hold office; provided that, for so
long as Yethro Dinamarca Santelices serves as a Director, he shall have the sole power to appoint and remove the Chairperson and to determine
the period for which the Chairperson is to hold office. The Chairperson or, failing them, the deputy Chairperson shall preside at all
meetings of the Directors, but if there be no Chairperson or deputy Chairperson, or if at any meeting the Chairperson or deputy Chairperson
be not present within five (5) minutes after the time appointed for holding the same, the Directors present may choose one of their number
to be Chairperson of the meeting.

131. A meeting of the Directors for the time being at which a quorum is present
shall be competent to exercise all powers and discretions for the time being exercisable by the Directors.

132. Without prejudice to the powers conferred by these Articles, the Directors
may delegate any of their powers to committees consisting of such member or members of their body as they think fit. Any committee so
formed shall, in the exercise of the powers so delegated, conform to any regulations that may be imposed on them by the Directors. The
Directors may, by power of attorney or otherwise, appoint any person to be an attorney or agent of the Company on such condition as the
Directors may determine, provided that the delegation is not to the exclusion of their own powers.

133. The meetings and proceedings of any such committee consisting of two
or more Directors shall be governed by the provisions of these Articles regulating the meetings and proceedings of the Directors so far
as the same are applicable and are not superseded by any regulations made by the Directors under the preceding Article.

134. The Directors may appoint such officers (including, without limitation,
a managing director) as they consider necessary on such terms, at such remuneration and to perform such duties, and subject to such provisions
as to disqualification and removal as the Directors may think fit. Unless otherwise specified in the terms of the officer's appointment
an officer may be removed by resolution of the Directors or by the Company by Ordinary Resolution.

135. All acts done by any meeting of Directors, or of a committee of Directors
or by any person acting as a Director, shall, notwithstanding it be afterwards discovered that there was some defect in the appointment
of any such Director or person acting as aforesaid, or that they or any of them were disqualified, or had vacated office, or were not
entitled to vote, be as valid as if every such person had been duly appointed, and was qualified and had continued to be a Director and
had been entitled to vote.

136. The Directors shall cause minutes to be made of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the names of the Directors present at each meeting of the Directors and of any committee of Directors;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all resolutions and proceedings of all meetings of the Company and of the Directors and of any committee
of Directors.

Any such minutes, if purporting to be signed by the chairperson of the meeting at which the proceedings took place, or by the chairperson of the next succeeding meeting, shall, until the contrary be proved, be conclusive evidence of their proceedings.

137. A Director but not an alternate Director may be represented at any meetings
of the Board of Directors by a proxy appointed in writing by the Director. The proxy shall count towards the quorum and the vote of the
proxy shall for all purposes be deemed to be that of the appointing Director.

**WRITTEN RESOLUTIONS OF DIRECTORS**

138. A resolution in writing signed by all the Directors for the time being
entitled to attend and vote at a meeting of the Directors (an alternate Director being entitled to sign such a resolution on behalf of
their appointor) shall be as valid and effective as a resolution passed at a meeting of the Directors duly convened and held and may consist
of several documents in the like form each signed by one or more of the Directors (or their alternates).

**PRESUMPTION OF ASSENT**

139. A Director or alternate Director who is present at a meeting of the
Board of Directors at which action on any Company matter is taken shall be presumed to have assented to the action taken unless the Director's
dissent shall be entered in the minutes of the meeting or unless the Director shall file their written dissent from such action with the
person acting as the secretary of the meeting before the adjournment thereof or shall forward such dissent by registered mail to such
person immediately after the adjournment of the meeting. Such right to dissent shall not apply to a Director who voted in favour of such
action.

**BORROWING POWERS**

140. The Directors may exercise all the powers of the Company to borrow money
and to mortgage or charge its undertaking, property and assets (present and future) and uncalled capital or any part thereof and to issue
debentures, debenture stock, mortgages, bonds and other such securities whether outright or as security for any debt, liability or obligation
of the Company or of any third party.

**SECRETARY**

141. The Directors may appoint any person to be a Secretary who shall hold
office for such term, at such remuneration and upon such conditions and with such powers as they think fit. Any Secretary so appointed
by the Directors may be removed by the Directors or by the Company by Ordinary Resolution. Anything required or authorised to be done
by or to the Secretary may, if the office is vacant or there is for any other reason no Secretary capable of acting, be done by or to
any assistant or deputy Secretary or if there is no assistant or deputy Secretary capable of acting, by or to any officer of the Company
authorised generally or specially in that behalf by the Directors, provided that any provisions of these Articles requiring or authorising
a thing to be done by or to a Director and the Secretary shall not be satisfied by its being done by or to the same person acting both
as Director and as, or in the place of, the Secretary.

142. No person shall be appointed or hold office as Secretary who is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sole Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a corporation the sole director of which is the sole Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the sole director of a corporation which is the sole Director.

**THE SEAL**

143. If a Seal is adopted, the Directors shall provide for the safe custody
of the Seal and the Seal shall never be used except by the authority of a resolution of the Directors or of a committee of the Directors
authorised by the Directors in that behalf. The Directors may keep for use outside the Cayman Islands a duplicate Seal. The Directors
may from time to time as they see fit (subject to the provisions of these Articles relating to share certificates) determine the persons
and the number of such persons in whose presence the Seal or the facsimile thereof shall be used, and until otherwise so determined the
Seal or the duplicate thereof shall be affixed in the presence of any one Director or the Secretary, or of some other person duly authorised
by the Directors.

**DIVIDENDS, DISTRIBUTIONS AND RESERVES**

144. Subject to the Companies Act, these Articles, and the special rights
attaching to Shares of any class, the Directors may, in their absolute discretion, declare dividends and distributions on Shares in issue
and authorise payment of the dividends or distributions out of the funds of the Company lawfully available therefor. No dividend or distribution
shall be paid except out of the realised or unrealised profits of the Company, or out of the Share Premium Account, or as otherwise permitted
by the Companies Act.

145. Except as otherwise provided by the rights attached to Shares, or as
otherwise determined by the Directors, all dividends and distributions in respect of Shares shall be declared and paid according to the
par value of the Shares that a Shareholder holds. If any Share is issued on terms providing that it shall rank for dividend or distribution
as from a particular date, that Share shall rank for dividend or distribution accordingly.

146. The Directors may deduct and withhold from any dividend or distribution
otherwise payable to any Shareholder all sums of money (if any) then payable by the Shareholder to the Company on account of calls or
otherwise or any monies which the Company is obliged by law to pay to any taxing or other authority.

147. The Directors may declare that any dividend or distribution be paid
wholly or partly by the distribution of specific assets and in particular of shares, debentures or securities of any other company or
in any one or more of such ways and, where any difficulty arises in regard to such distribution, the Directors may settle the same as
they think expedient and in particular may issue fractional Shares and fix the value for distribution of such specific assets or any part
thereof and may determine that cash payments shall be made to any Shareholder upon the basis of the value so fixed in order to adjust
the rights of all Shareholders and may vest any such specific assets in trustees as may seem expedient to the Directors.

148. Any dividend, distribution, interest or other monies payable in cash
in respect of Shares may be paid by wire transfer to the holder or by cheque or warrant sent through the post directed to the registered
address of the holder or, in the case of joint holders, to the registered address of the holder who is first named on the Register of
Members or to such person and to such address as such holder or joint holders may in writing direct. Every such cheque or warrant shall
(unless the Directors in their sole discretion otherwise determine) be made payable to the order of the person to whom it is sent. Any
one of two or more joint holders may give effectual receipts for any dividends, bonuses, or other monies payable in respect of the Share
held by them as joint holders.

149. Any dividend or distribution which cannot be paid to a Shareholder and/or
which remains unclaimed after six (6) months from the date of declaration of such dividend or distribution may, in the discretion of the
Directors, be paid into a separate account in the Company's name, provided that the Company shall not be constituted as a trustee in respect
of that account and the dividend or distribution shall remain as a debt due to the Shareholder. Any dividend or distribution which remains
unclaimed after a period of six (6) years from the date of declaration of such dividend or distribution shall be forfeited and shall revert
to the Company.

150. No dividend or distribution shall bear interest against the Company
unless expressly provided for by the rights attaching to a particular class of Shares and no dividend or distribution shall be paid on
Treasury Shares.

**SHARE PREMIUM ACCOUNT**

151. The Directors shall establish an account on the books and records of
the Company to be called the Share Premium Account and shall carry to the credit of such account from time to time a sum equal to the
amount or value of the premium paid on the issue of any Share.

**CAPITALISATION**

152. Subject to the Companies Act, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve to capitalise an amount standing to the credit of reserves (including a Share Premium Account,
capital redemption reserve and profit and loss account), which is available for distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) appropriate the sum resolved to be capitalised to the Shareholders in proportion to the nominal amount
of Shares (whether or not fully paid) held by them respectively and apply that sum on their behalf in or towards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) paying up the amounts (if any) for the time being unpaid on Shares held by them respectively; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) paying up in full unissued Shares or debentures of a nominal amount equal to that sum,

and allot the Shares or debentures, credited as fully paid, to the Shareholders (or as they may direct) in those proportions, or partly in one way and partly in the other, but the Share Premium Account, the capital redemption reserve and profits which are not available for distribution may, for the purposes of this Article, only be applied in paying up unissued Shares to be allotted to Shareholders credited as fully paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make any arrangements they think fit to resolve a difficulty arising in the distribution of a capitalised
reserve and in particular, without limitation, where Shares or debentures become distributable in fractions the Directors may deal with
the fractions as they think fit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) authorise a person to enter (on behalf of all the Shareholders concerned) into an agreement with the Company
providing for either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures to which
they may be entitled on the capitalisation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the payment by the Company on behalf of the Shareholders (by the application of their respective proportions
of the reserves resolved to be capitalised) of the amounts or part of the amounts remaining unpaid on their existing Shares,

and any such agreement made under this authority being effective and binding on all those Shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) generally do all acts and things required to give effect to such resolutions.

153. Notwithstanding any provisions in these Articles and subject to the
Companies Act, the Directors may resolve to capitalise an amount standing to the credit of reserves (including the Share Premium Account,
capital redemption reserve and profit and loss account) or otherwise available for distribution by applying such sum in paying up in full
unissued Shares to be allotted and issued to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) employees, Directors or service providers of the Company or its Affiliates upon exercise or vesting of
any options or awards granted under any share incentive scheme or employee benefit scheme or other arrangement which relates to such persons
that has been adopted or approved by the Directors or the Shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any trustee of any trust or administrator of any share incentive scheme or employee benefit scheme to
whom shares are to be allotted and issued by the Company in connection with the operation of any share incentive scheme or employee benefit
scheme or other arrangement which relates to such persons that has been adopted or approved by the Directors or Shareholders; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) service providers of the Company or its Affiliates upon exercise or vesting of any options or awards granted
under any share incentive scheme or employee benefit scheme or other arrangement which relates to such persons that has been adopted or
approved by the Directors or the Shareholders.

**ACCOUNTS**

154. The Directors shall cause proper books of account to be kept with respect
to all sums of money received and expended by the Company and the matters in respect of which the receipt or expenditure takes place,
all sales and purchases of goods by the Company and the assets and liabilities of the Company. Proper books shall not be deemed to be
kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the Company's affairs and
to explain its transactions.

155. The books of account shall be kept at the Registered Office or at such
other place as the Directors think fit, and shall always be open to inspection by the Directors.

156. The Board of Directors shall from time to time determine whether and
to what extent and at what time and places and under what conditions or articles the accounts and books of the Company or any of them
shall be open to the inspection of Shareholders not being Directors, and no Shareholder (not being a Director) shall have any right of
inspection of any account or book or document of the Company except as conferred by law or authorised by the Board of Directors or by
Ordinary Resolution.

**AUDIT**

157. The accounts relating to the Company's affairs shall be audited in such
manner as may be determined from time to time by resolution of the Shareholders or failing any such determination, by the Board of Directors,
or failing any determination as aforesaid, shall not be audited.

158. Without prejudice to the freedom of the Directors to establish any other
committee, if any of the Shares are listed or quoted on the Designated Stock Exchange, and if required by the Designated Stock Exchange,
the Directors shall establish and maintain an audit committee (the Audit Committee) as a committee
of the Board of Directors and shall adopt a formal written audit committee charter and review and assess the adequacy of the formal written
charter on an annual basis. The composition and responsibilities of the Audit Committee shall comply with the Designated Stock Exchange
Rules and the rules and regulations of the SEC. The Audit Committee shall meet at least once every financial quarter, or more frequently
as circumstances dictate.

159. If any of the Shares are listed or quoted on the Designated Stock Exchange,
the Company shall conduct an appropriate review of all related party transactions on an ongoing basis and shall utilise the Audit Committee
for the review and approval of potential conflicts of interest.

160. The remuneration of the Auditor shall be fixed by the Audit Committee,
if one exists, and otherwise by the Board of Directors.

161. Any payment made to members of the Audit Committee (if one exists) shall
require the review and approval of the Directors, with any Director interested in such payment abstaining from such review and approval.

162. The Audit Committee shall monitor compliance with the terms of the IPO
and, if any non-compliance is identified, the Audit Committee shall be charged with the responsibility to take all action necessary to
rectify such non-compliance or otherwise cause compliance with the terms of the IPO.

**NOTICES**

163. Except as otherwise provided in these Articles and subject to the Designated
Stock Exchange Rules, at the discretion of the Board of Directors, any notice or document may be served by the Company to any Shareholder
either personally, or by posting it by airmail or by courier service in a prepaid letter addressed to such Shareholder at the address
as appearing in the Register of Members, or by electronic mail to any electronic mail address such Shareholder may have specified in writing
for the purpose of such service of notices, or by facsimile to any facsimile number such Shareholder may have specified in writing for
the purpose of such service of notices, or by placing it on the Company's Website should the Board of Directors deem it appropriate.

164. Any notice or document, if served by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) post, shall be deemed to have been served three (3) days (not including Saturdays or Sundays or public
holidays) after the time when the letter containing the same is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) facsimile, shall be deemed to have been served upon production by the transmitting facsimile machine of
a report confirming transmission of the facsimile in full to the facsimile number of the recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) courier service, shall be deemed to have been served three (3) days after the time when the letter containing
the same is delivered to the courier service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) electronic mail, shall be deemed to have been served immediately upon the time of the transmission by
electronic mail; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) placing it on the Company's Website, shall be deemed to have been served immediately upon the time when
the same is placed on the Company's Website.

165. In proving service by post or courier service it shall be sufficient
to prove that the letter containing the notice or documents was properly addressed and duly posted or delivered to the courier service.

166. In the case of joint holders of a Share, all notices shall be given
to that one of the joint holders whose name stands first in the Register of Members in respect of the joint holding, and notice so given
shall be sufficient notice to all the joint holders.

167. Any Shareholder present, either personally or by proxy, at any meeting
of the Company shall for all purposes be deemed to have received due notice of such meeting and, where requisite, of the purposes for
which such meeting was convened.

168. Any summons, notice, order or other document required to be sent to
or served upon the Company, or upon any officer of the Company may be sent or served by leaving the same or sending it through the post
in a prepaid letter envelope or wrapper, addressed to the Company or to such officer at the Registered Office.

169. Any notice or document delivered or sent by post to or left at the registered
address of any Shareholder in pursuance of these Articles shall notwithstanding that such Shareholder be then dead, insane, bankrupt or
dissolved, and whether or not the Company has notice of such death, insanity, bankruptcy or dissolution, be deemed to have been duly served
in respect of any Share registered in the name of such Shareholder as sole or joint holder, unless the Shareholder's name shall at the
time of the service of the notice or document, have been removed from the Register of Members as the holder of the Share, and such service
shall for all purposes be deemed a sufficient service of such notice or document on all persons interested (whether jointly with or as
claiming through or under such Shareholder) in the Share.

**WINDING UP AND FINAL DISTRIBUTION OF ASSETS**

170. If the Company shall be wound up the liquidator shall apply the assets
of the Company in satisfaction of creditors' claims in such manner and order as such liquidator thinks fit.

171. If the Company shall be wound up, and the assets available for distribution
amongst the Shareholders shall be insufficient to repay the whole of the share capital, such assets shall be distributed so that, as nearly
as may be, the losses shall be borne by the Shareholders in proportion to the par value of the Shares held by them. If in a winding up
the assets available for distribution amongst the Shareholders shall be more than sufficient to repay the whole of the share capital at
the commencement of the winding up, the surplus shall be distributed amongst the Shareholders in proportion to the par value of the Shares
held by them at the commencement of the winding up subject to a deduction from those Shares in respect of which there are monies due of
all monies payable to the Company for unpaid calls or otherwise. This Article is without prejudice to the rights of the holders of Shares
issued upon special terms and conditions.

172. If the Company shall be wound up (whether the liquidation is voluntary,
under supervision or by the Court) the liquidator may, with the authority of a Special Resolution, divide among the Shareholders in specie
the whole or any part of the assets of the Company, and whether or not the assets shall consist of property of a single kind, and may
for such purposes set such value as the liquidator deems fair upon any one or more class or classes of property, and may determine how
such division shall be carried out as between the Shareholders. The liquidator may, with the like authority, vest any part of the assets
in trustees upon such trusts for the benefit of Shareholders as the liquidator, with the like authority, shall think fit, and the liquidation
of the Company may be closed and the Company dissolved, but so that no Shareholder shall be compelled to accept any Shares in respect
of which there is liability.

**INDEMNITY**

173. Every Director or officer of the Company shall to the fullest extent
permitted by Applicable Law be indemnified out of the assets of the Company against any liability incurred by that Director or officer
as a result of any act or failure to act in carrying out their functions other than such liability (if any) that the Director or officer
may incur by their own actual fraud, wilful default or wilful neglect. No such Director or officer shall be liable to the Company for
any loss or damage in carrying out their functions unless that liability arises through the actual fraud, wilful default or wilful neglect
of such Director or officer. References in this Article to actual fraud, wilful default or wilful neglect mean a finding to such effect
by a court of competent jurisdiction in relation to the conduct of the relevant person.

174. Expenses, including legal fees, incurred by a Director or officer of
the Company, or former Director or officer of the Company, in defending any legal, administrative or investigative proceedings may be
paid by the Company in advance of the final disposition of such proceedings upon receipt of an undertaking by such party to repay the
amount if it shall ultimately be determined that such person is not entitled to be indemnified by the Company and upon such terms and
conditions, if any, as the Company deems appropriate.

175. The Directors shall have the power to purchase and maintain insurance
for the benefit of any person who is or was a Director or officer of the Company indemnifying them against any liability which may lawfully
be insured against by the Company.

**DISCLOSURE**

176. Any Director, officer or authorised agent of the Company shall, if lawfully
required to do so under the laws of any jurisdiction to which the Company is subject or in compliance with the Designated Stock Exchange
Rules or in accordance with any contract entered into by the Company, be entitled to release or disclose any information in their possession
regarding the affairs of the Company including, without limitation, any information contained in the Register of Members.

177. Subject to the relevant laws, rules and regulations applicable to the
Company, no Shareholder shall be entitled to require discovery of any information in respect of any detail of the Company's trading or
any information which is or may be in the nature of a trade secret or secret process which may relate to the conduct of the business of
the Company and which in the opinion of the Board of Directors would not be in the interests of the Shareholders of the Company to communicate
to the public.

178. Subject to due compliance with the relevant laws, rules and regulations
applicable to the Company, the Board of Directors shall be entitled to release or disclose any information in its possession, custody
or control regarding the Company or its affairs to any of its Shareholders, including, without limitation, information contained in the
Register of Members and transfer books of the Company.

**BUSINESS OPPORTUNITIES**

179. To the fullest extent permitted by Applicable Law, no person serving
as Director or officer of the Company (Management) shall have any duty, except and to the extent
expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of
business as the Company.

180. To the fullest extent permitted by Applicable Law, the Company renounces
any interest or expectancy of the Company in, or in being offered an opportunity to participate in, any potential transaction or matter
which (a) may be a corporate opportunity for Management, on the one hand, and the Company, on the other or (b) the presentation of which
would breach an existing legal obligation of a member of Management to any other entity.

181. To the fullest extent permitted by Applicable Law, Management shall
have no duty to communicate or offer any such corporate opportunity to the Company and shall not be liable to the Company or the Shareholders
for breach of any fiduciary duty as a Shareholder, Director and/or officer of the Company solely by reason of the fact that such party
pursues or acquires such corporate opportunity for itself, himself or herself, directs such corporate opportunity to another person, or
does not communicate information regarding such corporate opportunity to the Company.

182. To the extent a court might hold that the conduct of any activity related
to a corporate opportunity that is renounced in these Articles to be a breach of duty to the Company or its Shareholders, the Company
and (if applicable) each Shareholder hereby waives, to the fullest extent permitted by Applicable Law, any and all claims and causes of
action that the Company or such Shareholder may have for such activities described in these Articles. To the fullest extent permitted
by Applicable Law, the provisions of these Articles apply equally to activities conducted in the future and that have been conducted in
the past.

**CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE**

183. For the purpose of determining Shareholders entitled to notice of, or
to vote at any meeting of Shareholders or any adjournment thereof, or Shareholders entitled to receive payment of any Dividend or other
distribution, or in order to make a determination of Shareholders for any other purpose, the Directors may, by any means in accordance
with the requirements of any Designated Stock Exchange, provide that the Register of Members shall be closed for transfers for a stated
period which shall not in any case exceed forty (40) days.

184. In lieu of, or apart from, closing the Register of Members, the Directors
may fix in advance or arrears a date as the record date for any such determination of Shareholders entitled to notice of, or to vote at
any meeting of the Shareholders or any adjournment thereof, or for the purpose of determining the Shareholders entitled to receive payment
of any Dividend or other distribution, or in order to make a determination of Shareholders for any other purpose.

185. If no record date is fixed for the determination of Shareholders entitled
to notice of or to vote at a meeting of Shareholders or Shareholders entitled to receive payment of a dividend, the date on which notice
of the meeting is mailed or the date on which the resolution of the Directors declaring such dividend is adopted, as the case may be,
shall be the record date for such determination of Shareholders. When a determination of Shareholders entitled to vote at any meeting
has been made in the manner provided in the preceding Article, such determination shall apply to any adjournment thereof.

**REGISTRATION BY WAY OF CONTINUATION**

186. The Company may by Special Resolution resolve to be registered by way
of continuation in a jurisdiction outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
registered or existing. The Directors may cause an application to be made to the Registrar of Companies to deregister the Company in the
Cayman Islands or such other jurisdiction in which it is for the time being incorporated, registered or existing and may cause all such
further steps as they consider appropriate to be taken to effect the transfer by way of continuation of the Company.

**FINANCIAL YEAR**

187. The Directors shall determine the financial year of the Company and
may change the same from time to time. Unless they determine otherwise, the financial year shall end on 31 December in each year.

**AMENDMENTS TO MEMORANDUM AND ARTICLES OF ASSOCIATION**

188. Subject to these Articles, the Company may from time to time alter or
add to these Articles or alter or add to the Memorandum with respect to any objects, powers or other matters specified therein by passing
a Special Resolution.

**CAYMAN ISLANDS DATA PROTECTION**

189. The Company is a "data controller" for the purposes of the
Data Protection Act (as amended) of the Cayman Islands (the DPA). By virtue of subscribing for
and holding Shares in the Company, Shareholders provide the Company with certain information (Personal Data)
that constitutes "personal data" under the DPA. Personal Data includes, without limitation, the following information relating
to a Shareholder and/or any natural person(s) connected with a Shareholder (such as a Shareholder's individual directors, members and/or
beneficial owner(s)): name, residential address, email address, corporate contact information, other contact information, date of birth,
place of birth, passport or other national identifier details, national insurance or social security number, tax identification, bank
account details and information regarding assets, income, employment and source of funds.

190. The Company processes such Personal Data for the purposes of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) performing contractual rights and obligations (including under the Memorandum and these Articles);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) complying with legal or regulatory obligations (including those relating to anti-money laundering and
counter-terrorist financing, preventing and detecting fraud, sanctions, automatic exchange of tax information, requests from governmental,
regulatory, tax and law enforcement authorities, beneficial ownership and the maintenance of statutory registers); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the legitimate interests pursued by the Company or third parties to whom Personal Data may be transferred,
including to manage and administer the Company, to send updates, information and notices to Shareholders or otherwise correspond with
Shareholders regarding the Company, to seek professional advice (including legal advice), to meet accounting, tax reporting and audit
obligations, to manage risk and operations and to maintain internal records.

191. The Company transfers Personal Data to certain third parties who process
the Personal Data on the Company's behalf, including third party service providers that it appoints or engages to assist with its management,
operation, administration and legal, governance and regulatory compliance. In certain circumstances, the Company may be required by law
or regulation to transfer Personal Data and other information with respect to one or more Shareholders to a governmental, regulatory,
tax or law enforcement authority. That authority may, in turn, exchange this information with another governmental, regulatory, tax or
law enforcement authority established in or outside the Cayman Islands.

**EXCLUSIVE JURISDICTION AND FORUM**

192. Unless the Company consents in writing to the selection of an alternative
forum, the courts of the Cayman Islands shall have exclusive jurisdiction over any claim or dispute arising out of or in connection with
the Memorandum, these Articles or otherwise related in any way to each Shareholder's shareholding in the Company, including but not limited
to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any derivative action or proceeding brought on behalf of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any action asserting a claim of breach of any fiduciary or other duty owed by any current or former Director,
officer or other employee of the Company to the Company or the Shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any action asserting a claim arising pursuant to any provision of the Companies Act, the Memorandum or
these Articles; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any action asserting a claim against the Company governed by the "internal affairs doctrine"
(as such concept is recognised under the laws of the United States of America).

193. Each Shareholder irrevocably submits to the exclusive jurisdiction of
the courts of the Cayman Islands over all such claims or disputes.

194. Without prejudice to any other rights or remedies that the Company may
have, each Shareholder acknowledges that damages alone would not be an adequate remedy for any breach of the selection of the courts of
the Cayman Islands as exclusive forum and that accordingly the Company shall be entitled, without proof of special damages, to the remedies
of injunction, specific performance or other equitable relief for any threatened or actual breach of the selection of the courts of the
Cayman Islands as exclusive forum.

195. Articles 192 and 193 shall not apply to any action or suits brought

of the United States of America are, as a matter of the laws of the United States of America, the sole and exclusive forum for determination
of such a claim.

## Exhibit 10.1

**Exhibit 10.1**

**INDEMNIFICATION AGREEMENT**

INDEMNIFICATION AGREEMENT (this "**Agreement**") is entered into as of [___________], by and between Ticketplus Ltd., a Cayman Islands exempted company (the "**Company**") and the undersigned, a director and/or an officer of the Company ("**Indemnitee**"), as applicable.

**BACKGROUND**

The board of directors of the Company (the "**Board**") has determined that the inability to attract and retain highly competent persons to serve the Company is detrimental to the best interests of the Company and its shareholders and that it is reasonable and necessary for the Company to provide adequate protection to such persons against risks of claims and actions against them arising out of their services to the corporation.

**AGREEMENT** 

In consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

**A. DEFINITIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions</u>. The following terms shall have the meanings defined below:

"**Expenses**" shall include, without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys' fees and disbursements and costs of attachment or similar bond, investigations, and any other expenses paid or incurred in connection with investigating, defending, being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding.

"**Indemnifiable Event**" means any event or occurrence that takes place either before or after the execution of this Agreement, related to the fact that Indemnitee is or was a director or an officer of the Company, or is or was serving at the request of the Company as a director or officer of another corporation, partnership, joint venture or other entity, or related to anything done or not done by Indemnitee in any such capacity, including, but not limited to, neglect, breach of duty, error, misstatement, misleading statement or omission.

"**Participant**" means a person who is a party to, or witness or participant (including on appeal) in, a Proceeding.

"**Proceeding**" means any threatened, pending, or completed action, suit, arbitration or proceeding, or any inquiry, hearing or investigation, whether civil, criminal, administrative, investigative or other, including appeal, in which Indemnitee may be or may have been involved as a party or otherwise by reason of an Indemnifiable Event.

**B. AGREEMENT TO INDEMNIFY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>General Agreement to Indemnify</u>. In the event Indemnitee was, is, or becomes a Participant in, or is threatened to be made a Participant in, a Proceeding, the Company shall indemnify the Indemnitee from and against any and all Expenses which Indemnitee incurs or becomes obligated to incur in connection with such Proceeding, whether or not such Proceeding proceeds to judgment or is settled or is otherwise brought to a final disposition, to the fullest extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Indemnification of Expenses of Successful Party</u>. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits in defense of any Proceeding or in defense of any claim, issue or matter in such Proceeding, the Company shall indemnify Indemnitee against all Expenses incurred in connection with such Proceeding or such claim, issue or matter, whether or not such Proceeding proceeds to judgment or is settled or is otherwise brought to a final disposition, as the case may be, offset by the amount of cash, if any, received by the Indemnitee resulting from his/her success therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion of Expenses, but not for the total amount of Expenses, the Company shall indemnify the Indemnitee for the portion of such Expenses to which Indemnitee is entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Exclusions</u>. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification 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;(a) to the extent that payment is actually made to Indemnitee under a valid, enforceable and collectible insurance policy;

&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) to the extent that Indemnitee is indemnified and actually paid other than pursuant to 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) subject to Section C.2(a), in connection with a judicial action by or in the right of the Company, in respect of any claim, issue or matter as to which the Indemnitee shall have been adjudicated by a court of competent jurisdiction, in a decision from which there is no further right of appeal, to be liable for actual fraud, wilful default or wilful neglect in the performance of his/her duty to the Company unless and only to the extent that any court in which such action was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such Expenses as such court shall deem proper;

&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) in connection with any Proceeding initiated by Indemnitee against the Company, any director or officer of the Company or any other party, and not by way of defense, unless (i) the Company has joined in or the Board has consented to the initiation of such Proceeding; or (ii) the Proceeding is one to enforce indemnification rights under this Agreement or any 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;(e) brought about by the actual fraud of the Indemnitee seeking payment hereunder; <u>provided</u>, <u>however</u>, that the Company shall indemnify Indemnitee under this Agreement as to any claims upon which suit may be brought against him/her by reason of any actual fraud on his/her part, unless a judgment or other final adjudication thereof adverse to the Indemnitee establishes that he/she committed actual fraud;

&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) for any judgment, fine, penalty or other amount which the Company is prohibited by applicable law or the Company's memorandum and articles of association (as may be amended from time to time) from paying as indemnity;

&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) arising out of Indemnitee's breach of an employment agreement with the Company (if any) or any other agreement with the Company or any of its subsidiaries; 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;(h) arising out of Indemnitee's personal income tax payable on any salaries, bonuses, director's fees, including fees for attending meetings, or gain on disposition of shares, options or restricted shares of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>No Employment Rights</u>. Nothing in this Agreement is intended to create in Indemnitee any right to continued employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Contribution</u>. If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any reason other than those set forth in Section B.4, then the Company shall contribute to the amount of Expenses paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and by the Indemnitee on the other hand from the transaction or events from which such Proceeding arose, and (ii) the relative fault of the Company on the one hand and of the Indemnitee on the other hand in connection with the events which resulted in such Expenses, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of the Indemnitee on the other hand shall be determined by reference to, among other things, the parties' relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments, fines or settlement amounts. The Company agrees that it would not be just and equitable if contribution pursuant to this Section B.6 were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

**C. INDEMNIFICATION PROCESS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Notice and Cooperation by Indemnitee</u>. Indemnitee shall, as a condition precedent to his/her right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement, provided that the delay of Indemnitee to give notice hereunder shall not prejudice any of Indemnitee's rights hereunder, unless such delay results in the Company's forfeiture of substantive rights or defenses. Notice to the Company shall be given in accordance with Section F.7 below. If, at the time of receipt of such notice, the Company has directors' and officers' liability insurance policies in effect, the Company shall give prompt notice to its insurers of the Proceeding relating to the notice. The Company shall thereafter take all necessary and desirable action to cause such insurers to pay, on behalf of Indemnitee, all Expenses payable as a result of such Proceeding. In addition, Indemnitee shall give the Company such cooperation as the Company may reasonably request and the Company shall give the Indemnitee such cooperation as the Indemnitee may reasonably request, including providing any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee or the Company, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Indemnification Payment</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) *Advancement of Expenses*. Indemnitee may submit a written request with reasonable particulars to the Company requesting that the Company advance to Indemnitee all Expenses that may be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The Company shall, within ten (10) business days of receiving such a written request by Indemnitee, advance all requested Expenses to Indemnitee. Any excess of the advanced Expenses over the actual Expenses will be repaid 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) *Reimbursement of Expenses*. To the extent Indemnitee has not requested any advanced payment of Expenses from the Company, Indemnitee shall be entitled to receive reimbursement for the Expenses incurred in connection with a Proceeding from the Company as soon as practicable and, in any event, within thirty (30) days after Indemnitee makes a written request to the Company for reimbursement unless the Company refers the indemnification request to the Reviewing Party in compliance with Section C.2(c) 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;(c) *Determination by the Reviewing Party*. If the Company reasonably believes that it is not obligated under this Agreement to indemnify the Indemnitee, the Company shall, within ten (10) days after the Indemnitee's written request for an advancement or reimbursement of Expenses, notify the Indemnitee that the request for advancement of Expenses or reimbursement of Expenses will be submitted to the Reviewing Party (as hereinafter defined). The Reviewing Party shall make a determination on the request within thirty (30) days after the Indemnitee's written request for an advancement or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in the event the Reviewing Party informs the Company that Indemnitee is not entitled to indemnification in connection with a Proceeding under this Agreement or applicable law, the Company shall be entitled to be reimbursed by Indemnitee for all the Expenses previously advanced or otherwise paid to Indemnitee in connection with such Proceeding; <u>provided</u>, <u>however</u>, that Indemnitee may bring a suit to enforce his/her indemnification right in accordance with Section C.3 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Suit to Enforce Rights</u>. Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification within thirty (30) days after making a written demand in accordance with Section C.2 above or fifty (50) days if the Company submits a request for advancement or reimbursement to the Reviewing Party under Section C.2(c), Indemnitee shall have the right to enforce its indemnification rights under this Agreement by commencing litigation in any court of competent jurisdiction seeking a determination by the court or challenging any determination by the Reviewing Party or with respect to any breach in any aspect of this Agreement. Any determination by the Reviewing Party not challenged by Indemnitee and any judgment entered by the court shall be binding on the Company and Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Assumption of Defense</u>. In the event the Company is obligated under this Agreement to advance or bear any Expenses for any Proceeding against Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by Indemnitee has been previously authorized by the Company, (ii) Indemnitee shall have reasonably concluded, based on written advice of counsel, that there may be a conflict of interest of such counsel retained by the Company between the Company and Indemnitee in the conduct of any such defense, or (iii) the Company ceases or terminates the employment of such counsel with respect to the defense of such Proceeding, in any of which events the fees and expenses of Indemnitee's counsel shall be at the expense of the Company. At all times, Indemnitee shall have the right to employ counsel in any Proceeding at Indemnitee's expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Burden of Proof and Presumptions</u>. Upon making a request for indemnification, Indemnitee shall be presumed to be entitled to indemnification under this Agreement and the Company shall have the burden of proof to overcome that presumption in reaching any contrary determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>No Settlement Without Consent</u>. Neither party to this Agreement shall settle any Proceeding in any manner that would impose any damage, loss, penalty or limitation on Indemnitee without the other party's written consent. Neither the Company nor Indemnitee shall unreasonably withhold its consent to any proposed settlement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Company Participation</u>. Subject to Section B.6, the Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial action if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Reviewing Party</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) For purposes of this Agreement, the Reviewing Party with respect to each indemnification request of Indemnitee that is referred by the Company pursuant to Section C.2(c) above shall be (A) the Board by a majority vote of a quorum consisting of Disinterested Directors (as hereinafter defined), or (B) if a quorum of the Board consisting of Disinterested Directors is not obtainable or, even if obtainable, said Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. If the Reviewing Party determines that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall cooperate with the person, persons or entity making such 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. Any Independent Counsel or member of the Board shall act reasonably and in good faith in making a determination under this Agreement of the Indemnitee's entitlement to indemnification. Any reasonable costs or expenses (including reasonable attorneys' fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. "**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;(b) If the determination of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected as provided in this Section C.8(b). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the proceeding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within 10 days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, 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 C.8(d) of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for indemnification, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been 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 the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting under this Agreement, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section C.8(b), regardless of the manner in which such Independent Counsel was selected or appointed.

&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) In making a determination with respect to entitlement to indemnification hereunder, the Reviewing Party shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement (with or without court approval), conviction, or upon a plea of *nolo contendere* or its equivalent, shall 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 he/she 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 his/her conduct was unlawful. For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Company and any other corporation, partnership, joint venture or other entity of which Indemnitee is or was serving at the written request of the Company as a director, officer, employee, agent or fiduciary, including financial statements, or on information supplied to Indemnitee by the officers and directors of the Company or such other corporation, partnership, joint venture or other entity in the course of their duties, or on the advice of legal counsel for the Company or such other corporation, partnership, joint venture or other entity or on information or records given or reports made to the Company or such other corporation, partnership, joint venture or other entity by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company or such other corporation, partnership, joint venture or other entity. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or such other corporation, partnership, joint venture or other entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. The provisions of this Section C.8(c) shall not be deemed to be exclusive or to 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;(d) "**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 past five (5) years 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" shall 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 of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

**D. DIRECTOR AND OFFICER LIABILITY INSURANCE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Good Faith Determination</u>. The Company shall from time to time make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses incurred in connection with their services to the Company or to ensure the Company's performance of its indemnification obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Coverage of Indemnitee</u>. To the extent the Company maintains an insurance policy or policies providing directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company's directors or officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Obligation</u>. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain any director and officer insurance policy if the Company determines in good faith that such insurance is not reasonably available in the case that (i) premium costs for such insurance are disproportionate to the amount of coverage provided, or (ii) the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit.

**E. NON-EXCLUSIVITY; FEDERAL PREEMPTION; TERM**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Non-Exclusivity</u>. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the Company's memorandum and articles of association, as may be amended from time to time, applicable law or any written agreement between Indemnitee and the Company (including its subsidiaries and affiliates). The indemnification provided under this Agreement shall continue to be available to Indemnitee for any action taken or not taken while serving in an indemnified capacity even though he/she may have ceased to serve in any such capacity at the time of any Proceeding. To the extent that a change in the laws of the Cayman Islands or the United States permit greater indemnification by agreement than would be afforded under the memorandum and articles of association or this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Federal Preemption</u>. Notwithstanding the foregoing, both the Company and Indemnitee acknowledge that in certain instances, U.S. federal law or public policy may override applicable law and prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Such instances include, but are not limited to, the U.S. Securities and Exchange Commission's (the "**SEC**") prohibition on indemnification for liabilities arising under certain Federal securities laws. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company's right under public policy to indemnify Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Company Indemnitor of First Resort</u>. The Company hereby acknowledges that the Indemnitee may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of his or her employers and certain of their affiliates (collectively, the "**Employer Indemnitors**"). The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to Indemnitee is primary and any obligation of the Employer Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) that it shall be required to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any Indemnitee to the extent legally permitted and as required by this Agreement (or any agreement between the Company and such Indemnitee), without regard to any rights such Indemnitee may have against the Employer Indemnitors and (iii) it irrevocably waives, relinquishes and releases the Employer Indemnitors from any and all claims against the Employer Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Duration of Agreement</u>. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer and/or a director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding by reason of his/her former or current capacity at the Company or any other enterprise at the Company's request, whether or not he/she is acting or serving in any such capacity at the time any Expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall continue in effect regardless of whether Indemnitee continues to serve as an officer and/or a director of the Company or any other enterprise at the Company's request.

**F. MISCELLANEOUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Amendment of this Agreement</u>. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall operate as a waiver of any other provisions (whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided in this Agreement, no failure to exercise or any delay in exercising any right or remedy shall constitute a waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Subrogation</u>. In the event of payment to Indemnitee by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Assignment; Binding Effect</u>. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party hereto without the prior written consent of the other party; except that the Company may, without such consent, assign all such rights and obligations to a successor in interest to the Company which assumes all obligations of the Company under this Agreement. Notwithstanding the foregoing, this Agreement shall be binding upon and inure to the benefit of and be enforceable by and against the parties hereto and the Company's successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or assets of the Company) and assigns, as well as Indemnitee's spouses, heirs, and personal and legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Severability and Construction</u>. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law. The Company's inability, pursuant to a court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. In addition, if any portion of this Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by applicable law. The parties hereto acknowledge that they each have opportunities to have their respective counsels review this Agreement. Accordingly, this Agreement shall be deemed to be the product of both of the parties hereto, and no ambiguity shall be construed in favor of or against either of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Counterparts</u>. This Agreement may be executed in two counterparts, both of which taken together shall constitute one instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Governing Law</u>. This agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the Cayman Islands, without giving effect to conflicts of law provisions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Notices</u>. All notices, demands, and other communications required or permitted under this Agreement shall be made in writing and shall be deemed to have been duly given if delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail, return receipt requested, and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such other address(es) as a party may designate for itself by like notice).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Entire Agreement</u>. This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof.

[Signature Page Follows]

**IN WITNESS WHEREOF,** the parties hereto execute this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **Ticketplus Ltd.** | **Ticketplus Ltd.** |
| By: |  |
|  | Name: |
|  | Title: |
| Address: |  |
| **INDEMNITEE:** | **INDEMNITEE:** |
| (Signature) | (Signature) |
| Name (Please Print) | Name (Please Print) |
| Address: |  |

---

*Signature Page to Indemnification Agreement*

## Exhibit 10.2

**Exhibit 10.2**

**INDEPENDENT DIRECTOR AGREEMENT**

INDEPENDENT DIRECTOR AGREEMENT (this "**Agreement**") dated [________], by and between Ticketplus Ltd., a Cayman Islands exempted company (the "**Company**"), and the undersigned (the "**Director**").

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Company is filing a registration statement on Form F-1 relating to a firm commitment initial public offering of its securities (the "**IPO**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company's board of directors (the "**Board**") currently consists of two (2) members, and the Board intends to appoint three (3) additional independent directors prior to the closing of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Company desires to appoint the Director to serve on the Board, which may include membership on one or more committees of the Board, and the Director desires to accept such appointment to serve on the Board.

**AGREEMENT**

**NOW THEREFORE**, in consideration of the mutual promises contained herein, the adequacy and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Company and the Director hereby agree as follows:

1. **<u>Duties</u>**. From and after the effective date of the registration statement for the IPO and related pricing of the IPO (the "**Effective Time**"), the Company requires that the Director be available to perform the duties of an independent director customarily related to this function as may be determined and assigned by the Board and as may be required by the Company's constituent instruments, including its memorandum and articles of association, as amended from time to time, and its corporate governance and board committee charters, each as amended or modified from time to time, and by applicable law, including the Companies Act (as amended) of the Cayman Islands. The Director agrees to devote as much time as is necessary to perform completely the duties as a Director of the Company, including duties as a member of one or more committees of the Board, to which the Director may hereafter be appointed. The Director will perform such duties described herein in accordance with the general fiduciary and other duties of directors.

2. **<u>Term</u>**. The term of this Agreement shall commence as of the Effective Time, which shall be the date of the Director's appointment by the board of directors of the Company, and shall continue until the Director's removal, resignation or other vacation of office. In addition to a termination of this Agreement pursuant to Section 8, the Company shall have the right to terminate this Agreement upon written notice to the Director at any time without liability prior to the Effective Time.

3. **<u>Compensation</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Following the Effective Time and the commencement of the term of this Agreement, for all services to be rendered by the Director in any capacity hereunder, the Company agrees to compensate the Director a fee of US$<u>[</u>____] per year in cash (the "**Annual Fee**"), which Annual Fee shall be paid to the Director in four equal installments no later than the fifth business day of each calendar quarter commencing in the first quarter following the Effective Time. The Director shall be responsible for his or her own individual income tax payment on the Annual Fee in jurisdictions where the Director resides.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Equity Compensation</u>. Following the Effective Time and the commencement of the term of this Agreement, the Director shall be granted [____] (the "**[____]**"). The [____] will vest over a [____] period beginning at the Effective Time at a rate of [____] provided that the Director remains in Continuous Service (as defined in the Ticketplus Ltd. 2026 Equity Incentive Plan) over the vesting period. If this Agreement is terminated by the Company or the Director prior to the Effective Time, then no equity compensation shall be granted hereunder.

4. **<u>Independence</u>**. The Director acknowledges that his appointment hereunder is contingent upon the Board's determination that he is "independent" with respect to the Company, in accordance with the listing requirements of the Nasdaq or NYSE American stock exchanges, and that his appointment may be terminated by the Company in the event that the Director does not maintain such independence standard.

5. **<u>Expenses</u>**. The Company shall reimburse the Director for pre-approved reasonable business-related expenses incurred in good faith in connection with the performance of the Director's duties for the Company. Such reimbursement shall be made by the Company upon submission by the Director of a signed statement itemizing the expenses incurred, which shall be accompanied by sufficient documentation to support the expenditures.

6. **<u>Other Agreements</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Confidential Information and Insider Trading</u>. The Company and the Director each acknowledge that, in order for the intentions and purposes of this Agreement to be accomplished, the Director shall necessarily be obtaining access to certain confidential information concerning the Company and its affairs, including, but not limited to, business methods, information systems, financial data and strategic plans which are unique assets of the Company (as further defined below, the "**Confidential Information**") and that the communication of such Confidential Information to third parties could irreparably injure the Company and its business. Accordingly, the Director agrees that, during his association with the Company and thereafter, he will treat and safeguard as confidential and secret all Confidential Information received by him at any time and that, without the prior written consent of the Company, he will not disclose or reveal any of the Confidential Information to any third party whatsoever or use the same in any manner except in connection with the business of the Company and in any event in no way harmful to or competitive with the Company or its business. For purposes of this Agreement, "**Confidential Information**" includes any information not generally known to the public or recognized as confidential according to standard industry practice, any trade secrets, know-how, development, manufacturing, marketing and distribution plans and information, inventions, formulas, methods or processes, whether or not patented or patentable, pricing policies and records of the Company (and such other information normally understood to be confidential or otherwise designated as such in writing by the Company), all of which the Director expressly acknowledges and agrees shall be confidential and proprietary information belonging to the Company. Upon termination of his association with the Company, the Director shall return to the Company all documents and papers relating to the Company, including any Confidential Information, together with any copies thereof, or certify that he or she has destroyed all such documents and papers. Furthermore, the Director recognizes that the Company has received and, in the future, will receive confidential or proprietary information from third parties subject to a duty on the Company's part to maintain the confidentiality of such information and, in some cases, to use it only for certain limited purposes. The Director agrees that the Director owes the Company and such third parties, both during the term of the Director's association with the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to, except as is consistent with the Company's agreement with the third party, disclose it to any person or entity or use it for the benefit of anyone other than the Company or such third party, unless expressly authorized to act otherwise by an officer of the Company. In addition, the Director acknowledges and agrees that the Director may have access to "material non-public information" for purposes of the federal securities laws ("**Insider Information**") and that the Director will abide by all securities laws relating to the handling of and acting upon such Insider Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Disparaging Statements</u>. At all times during and after the period in which the Director is a member of the Board and at all times thereafter, the Director shall not either verbally, in writing, electronically or otherwise: (i) make any derogatory or disparaging statements about the Company, any of its affiliates, any of their respective officers, directors, shareholders, employees and agents, or any of the Company's current or past customers or employees, or (ii) make any public statement or perform or do any other act prejudicial or injurious to the reputation or goodwill of the Company or any of its affiliates or otherwise interfere with the business of the Company or any of its affiliates; provided, however, that nothing in this paragraph shall preclude the Director from complying with all obligations imposed by law or legal compulsion, and provided, further, however, that nothing in this paragraph shall be deemed applicable to any testimony given by the Director in any legal or administrative proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Work Product</u>. Director agrees that any and all Work Product (as defined below) shall be the Company's or its nominated subsidiary's sole and exclusive property. Director hereby irrevocably assigns to the Company or its nominated subsidiary all right, title and interest worldwide in and to any deliverables resulting from the Director's services as a director to the Company ("**Deliverables**"), and to any ideas, concepts, processes, discoveries, developments, formulae, information, materials, improvements, designs, artwork, content, software programs, other copyrightable works, and any other work product created, conceived or developed by you (whether alone or jointly with others) for the Company during or before the term of this Agreement, including all copyrights, patents, trademarks, trade secrets, and other intellectual property rights therein (the "**Work Product**"). Director retains no rights to use the Work Product and agrees not to challenge the validity of our ownership of the Work Product. Director agrees to execute, at Company's request and expense, all documents and other instruments necessary or desirable to confirm such assignment. In the event that Director does not, for any reason, execute such documents within a reasonable time after the Company's request, Director hereby irrevocably appoints the Company as Director's attorney-in-fact for the purpose of executing such documents on the Director's behalf, which appointment is coupled with an interest. Director will deliver to the Company any Deliverables and disclose promptly in writing to the Company all other Work Product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Enforcement</u>. The Director acknowledges and agrees that the covenants contained herein are reasonable, that valid consideration has been and will be received and that the agreements set forth herein are the result of arms-length negotiations between the parties hereto. The Director recognizes that the provisions of this Section 6 are vitally important to the continuing welfare of the Company and its affiliates and that any violation of this Section 6 could result in irreparable harm to the Company and its affiliates for which money damages would constitute a totally inadequate remedy. Accordingly, in the event of any such violation by the Director, the Company and its affiliates, in addition to any other remedies they may have, shall have the right to institute and maintain a proceeding to compel specific performance thereof or to obtain an injunction or other equitable relief restraining any action by the Director in violation of this Section 6 without posting any bond therefore or demonstrating actual damages, and the Director will not claim as a defense thereto that the Company has an adequate remedy at law or require the posting of a bond. If any of the restrictions or activities contained in this Section 6 shall for any reason be held by an arbitrator to be excessively broad as to duration, geographical scope, activity or subject, such restrictions shall be construed so as thereafter to be limited or reduced to be enforceable to the extent compatible with the applicable law; it being understood that by the execution of this Agreement the parties hereto regard such restrictions as reasonable and compatible with their respective rights. The Director acknowledges that injunctive relief may be granted immediately upon the commencement of any such action without notice to the Director and in addition Company may recover monetary damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Separate Agreement</u>. The parties hereto further agree that the provisions of Section 6 are separate from and independent of the remainder of this Agreement and that Section 6 is specifically enforceable by the Company notwithstanding any claim made by the Director against the Company. The terms of this Section 6 shall survive termination of this Agreement.

7. **<u>Market Stand-Off Agreement</u>**. In the event of a public or private offering of the Company's securities, including in connection with the IPO, and upon request of the Company, the underwriters or placement agents placing the offering of the Company's securities, the Director agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company that the Director may own, other than those included in the registration, without the prior written consent of the Company or such underwriters, as the case may be, for such period of time from the effective date of such registration as may be requested by the Company or such placement agent or underwriter.

8. **<u>Termination</u>**. With or without cause, the Company and the Director may each terminate this Agreement at any time upon ten (10) days written notice, and the Company shall be obligated to pay to the Director the compensation and expenses due up to the date of the termination. Nothing contained herein or omitted herefrom shall prevent the directors and/or shareholder(s) of the Company from removing the Director with immediate effect at any time for any reason in accordance with the applicable provisions of the Company's memorandum and articles of association, as amended from time to time. For the avoidance of doubt, if the Company terminates this Agreement prior to the closing of the IPO in accordance with Section 2 hereof, then the Company shall not have any liability whatsoever to the Director and no equity compensation shall be granted under Section 3(b).

9. **<u>Indemnification</u>**. The Company shall indemnify, defend and hold harmless the Director, to the fullest extent permitted by applicable law, and as provided by, or granted pursuant to, any article provision, agreement (including, without limitation, the Indemnification Agreement executed herewith), vote of shareholders or disinterested directors or otherwise, both as to action in the Director's official capacity and as to action in another capacity while holding such office. The Company and the Director are executing an indemnification agreement in the form attached hereto as <u>Exhibit A</u> (the "**Indemnification Agreement**").

10. **<u>Effect of Waiver</u>**. The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed as a waiver of any subsequent breach thereof.

11. **<u>Notice</u>**. Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature page hereto or, if to the Company, to the Company's address as specified in filings made by the Company with the U.S. Securities and Exchange Commission.

12. **<u>Governing Law</u>**. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined by the Cayman Islands laws without reference to conflicts of laws principles. The parties hereto agree to submit to the exclusive jurisdiction of the courts of the Cayman Islands in the event of any dispute, claim or matter arising from this Agreement.

13. **<u>Assignment</u>**. The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder shall inure to the benefit of, and be enforceable by or against, its successors and assigns. The duties and obligations of the Director under this Agreement are personal and therefore the Director may not assign any right or duty under this Agreement without the prior written consent of the Company.

14. **<u>Severability</u>**. If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such invalidity or illegality, the remaining terms and provisions of this Agreement shall remain in full force and effect in the same manner as if the invalid or illegal provision had not been contained herein.

15. **<u>Amendment</u>**. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by the parties hereto.

16. **<u>Headings</u>**. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

17. **<u>Counterparts</u>**. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument. Counterparts 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 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.

18. **<u>Entire Agreement</u>**. Except as provided elsewhere herein, this Agreement sets forth the entire agreement of the parties with respect to its subject matter and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party to this Agreement with respect to such subject matter.

 

*[Signature Page Follows]*

 

 

**IN WITNESS WHEREOF,** the parties hereto have caused this Independent Director Agreement to be duly executed and delivered as a deed and signed as of the day and year first above written.

---

| | |
|:---|:---|
| **EXECUTED as a deed by:** | **EXECUTED as a deed by:** |
| **<u>COMPANY</u>**: | **<u>COMPANY</u>**: |
| **Ticketplus Ltd.** | **Ticketplus Ltd.** |
| By: |  |
|  | Name: |
|  | Title: |

---

Address:

---

| |
|:---|
| **<u>DIRECTOR</u>**: |
| (Signature) |
| Name (Please Print) |

---

Address:

---

| |
|:---|
| In the presence of: |
| (Signature) |
| Witness name (Please Print) |

---

Address:

*Signature Page to Independent Director Agreement*

**EXHIBIT A**

**<u>Indemnification Agreement</u>**

<br> (See Attached)

## Exhibit 10.3

**Exhibit 10.3**

**TICKETPLUS LTD.**

**2026 EQUITY INCENTIVE PLAN**

1. <u>Purpose; Eligibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>General Purpose</u>. The name of this plan is Ticketplus Ltd. 2026 Equity Incentive Plan (the "**Plan**"). The purposes of the Plan are to (a) enable Ticketplus Ltd., an exempted company limited by shares incorporated under the laws of the Cayman Islands (the "**Company**"), and any Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company's long-term success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the shareholders of the Company; and (c) promote the success of the Company's business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Eligible Award Recipients</u>. The persons eligible to receive Awards are the Employees, Consultants and Directors of the Company and its Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants and Directors after the receipt of Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Available Awards</u>. Awards that may be granted under the Plan include: (a) Incentive Share Options, (b) Non-qualified Share Options, (c) Share Appreciation Rights, (d) Restricted Awards, (e) Performance Share Awards, and (f) Performance Compensation Awards.

2. <u>Definitions</u>.

"**Affiliate**" means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common control with, the Company, including, without limitation, any corporation that is a "parent corporation" or a "subsidiary corporation" with respect to the Company within the meaning of Section 424(e) or (f) of the Code (as defined below), and any other non-corporate entity that would be such a subsidiary corporation if such entity were a corporation.

"**Applicable Laws**" means the requirements related to or implicated by the administration of the Plan under applicable Cayman Islands law, United States federal and state securities laws, or the Code, the requirements or rules of any stock exchange or quotation system on which the Ordinary Shares are listed or quoted, and the applicable laws of any foreign country or jurisdiction where Awards are granted to residents therein under the Plan.

"**Award**" means any right granted under the Plan, including an Incentive Share Option, a Non-qualified Share Option, a Share Appreciation Right, a Restricted Award, a Performance Share Award or a Performance Compensation Award.

"**Award Agreement**" means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an individual Award granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant. Each Award Agreement shall be subject to the terms and conditions of the Plan.

"**Beneficial Owner**" has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular "person" (as that term is used in Section 13(d)(3) of the Exchange Act), such "person" shall be deemed to have beneficial ownership of all securities that such "person" has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of time. The terms "Beneficially Owns" and "Beneficially Owned" have a corresponding meaning.

"**Board**" means the board of directors of the Company, as constituted at any time.

"**Cause**" means:

With respect to any Employee or Consultant: (a) if the Employee or Consultant is a party to an employment or service agreement with the Company or its Affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony, fraud or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its Affiliates; (iii) gross negligence (meaning serious negligence that goes beyond the failure to exercise proper skill and care and amounts to a reckless disregard for the high degree of risk or the likely material consequences of the act of the party) or willful misconduct with respect to the Company or an Affiliate; or (iv) material violation of Cayman Islands law or state or federal United States securities laws.

With respect to any Director, a determination by a majority of the disinterested Board members that the Director has engaged in any of the following: (a) malfeasance in office (including breach of fiduciary duty); (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Participant has been discharged for Cause.

"**Change in Control**" means (a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger, amalgamation, arrangement or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries, taken as a whole, to any Person that is not a subsidiary of the Company; (b) the Incumbent Directors cease for any reason to constitute at least a majority of the Board; (c) the date which is 10 business days prior to the consummation of a complete liquidation or winding up of the Company; (d) the acquisition by any Person of Beneficial Ownership of more than 50% (on a fully diluted basis) of either (i) the then outstanding Ordinary Shares of all classes of ordinary shares of the Company, taking into account as outstanding for this purpose such Ordinary Shares issuable upon the exercise of options or warrants, the conversion of convertible preferred shares or debt, and the exercise of any similar right to acquire such Ordinary Shares (the "**Outstanding Company Ordinary Shares**") or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the "**Outstanding Company Voting Securities**"); provided, however, that for purposes of this Plan, the following acquisitions shall not constitute a Change in Control: (A) any acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit plan sponsored or maintained by the Company or any subsidiary, (C) any acquisition which complies with clauses, (i), (ii) and (iii) of subsection (e) of this definition or (D) 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); or (e) the consummation of a reorganization, merger, consolidation, amalgamation, arrangement, statutory share exchange or similar form of corporate transaction involving the Company that requires the approval of the Company's shareholders, whether for such transaction or the issuance of securities in the transaction (a "**Business Combination**"), unless immediately following such Business Combination: (i) more than 50% of the total voting power of (A) the entity resulting from such Business Combination (the "**Surviving Company**"), or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company (the "**Parent Company**"), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination; (ii) no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes the Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if there is no Parent Company, the Surviving Company); and (iii) at least a majority of the members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business Combination were Board members at the time of the Board's approval of the execution of the initial agreement providing for such Business Combination. The foregoing notwithstanding, if the Award constitutes non-qualified deferred compensation under Section 409A of the Code, in no event shall a Change in Control be deemed to have occurred unless such change shall satisfy the definition of a change in control under Section 409A of the Code.

"**Code**" means the United States Internal Revenue Code of 1986, as it may be amended from time to time. References in this Plan to any section of the Code shall be deemed to include a reference to any regulations promulgated thereunder, or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations or guidance.

"**Committee**" means the compensation committee of the Board, or if no such committee has been established, the full Board, or a committee of one or more members of the Board appointed to administer the Plan in accordance with ***Section 3.3*** and ***Section 3.4***.

"**Consultant**" means any individual who is engaged by the Company or any Affiliate to render consulting or advisory services.

"**Continuous Service**" means that the Participant's service with the Company or an Affiliate, whether as an Employee, Consultant or Director, is not interrupted or terminated. The Participant's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, *provided that* there is no interruption or termination of the Participant's Continuous Service; *provided further that* if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to a Director of an Affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

"**Director**" means any member of the Board.

"**Disability**" means that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment; *provided, however,* for purposes of determining the term of an Incentive Share Option pursuant to ***Section 6.10*** hereof, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an individual has a Disability shall be determined under procedures established by the Committee. Except in situations where the Committee is determining Disability for purposes of the term of an Incentive Share Option pursuant to ***Section 6.10*** hereof within the meaning of Section 22(e)(3) of the Code, the Committee may rely on any determination that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which a Participant participates. The foregoing notwithstanding, if the Award is subject to Section 409A of the Code, in no event shall a Disability be deemed to have occurred unless such disability satisfies the requirements of Section 409A of the Code.

"**Effective Date**" shall mean May 27, 2026.

"**Employee**" means any person, including an Officer or Director, employed by the Company or an Affiliate; *provided, that,* for purposes of determining eligibility to receive Incentive Share Options, an Employee shall mean an employee of the Company or a parent or subsidiary corporation within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director's fee by the Company or an Affiliate shall not be sufficient to constitute "employment" by the Company or an Affiliate.

"**Exchange Act**" means the United States Securities Exchange Act of 1934, as amended.

"**Fair Market Value**" means, as of any date, the value of the Ordinary Shares as determined as follows. If the Ordinary Shares are listed on any established stock exchange or a U.S. market system, including without limitation, the New York Stock Exchange or The Nasdaq Stock Market LLC, the Fair Market Value shall be the closing sales price for such share as quoted on such exchange or system on the day of determination, 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 Committee deems reliable. In the absence of an established market for the Ordinary Shares, the Fair Market Value shall be determined in good faith by the Committee and such determination shall be conclusive and binding on all persons; *provided that* if an Award is subject to Section 409A of the Code, then the Fair Market Value shall be determined in accordance with Section 409A of the Code.

"**Grant Date**" means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth in such resolution.

"**Incentive Share Option**" means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and otherwise meets the requirements set forth in this Plan.

"**Incumbent Directors**" means individuals who, on the Effective Date, constitute the Board, *provided that* any individual becoming a Director subsequent to the Effective Date whose election or nomination for election to the Board was approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (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) shall be an Incumbent Director. 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.

"**Non-qualified Share Option**" means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Share Option.

"**Officer**" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

"**Option**" means an Incentive Share Option or a Non-qualified Share Option granted pursuant to the Plan.

"**Optionholder**" means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

"**Option Exercise Price**" means the price at which an Ordinary Share may be purchased upon the exercise of an Option, which in any event shall not be less than the par value of any such Ordinary Share.

"**Ordinary Shares**" means the ordinary shares of par value US$0.0001 each of the Company, which are entitled to one (1) vote for each Ordinary Share held, or such other securities of the Company as may be designated by the Committee from time to time in substitution thereof.

"**Participant**" means an eligible person to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Award.

"**Performance Compensation Award**" means any Award designated by the Committee as a Performance Compensation Award pursuant to ***Section 7.4*** of the Plan.

"**Performance Criteria**" means the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance Period with respect to any Performance Compensation Award under the Plan. The Performance Criteria that will be used to establish the Performance Goal(s) shall be based on the attainment of specific levels of performance of the Company (or Affiliate, division, business unit or operational unit of the Company) and may include the following: (a) net earnings or net income (before or after taxes); (b) basic or diluted earnings per share (before or after taxes); (c) net revenue or net revenue growth; (d) gross revenue; (e) gross profit or gross profit growth; (f) net operating profit (before or after taxes); (g) return on assets, capital, invested capital, equity, or sales; (h) cash flow (including, but not limited to, operating cash flow, free cash flow, and cash flow return on capital); (i) earnings before or after taxes, interest, depreciation and/or amortization; (j) gross or operating margins; (k) improvements in capital structure; (l) budget and expense management; (m) productivity ratios; (n) economic value added or other value added measurements; (o) share price (including, but not limited to, growth measures and total shareholder return); (p) expense targets; (q) margins; (r) operating efficiency; (s) working capital targets; (t) enterprise value; (u) safety record; (v) completion of acquisitions or business expansion; (w) achieving research and development goals and milestones; (x) achieving product commercialization goals; and (y) other criteria as may be set by the Committee from time to time.

Any one or more of the Performance Criteria may be used on an absolute or relative basis to measure the performance of the Company and/or an Affiliate as a whole or any division, business unit or operational unit of the Company and/or an Affiliate or any combination thereof, as the Committee may deem appropriate, or as compared to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Committee may select Performance Criterion (o) above as compared to various stock market indices. The Committee also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant to the Performance Criteria specified in this paragraph, provided that if the Award is subject to Section 409A of the Code, such accelerated vesting does not violate the rules of Code Section 409A. The Committee shall, within the first 90 days of a Performance Period (or, such longer or shorter time period as the Committee shall determine) define in an objective fashion the manner of calculating the Performance Criteria it selects to use for such Performance Period. In the event that applicable tax and/or securities laws change to permit the Committee discretion to alter the governing Performance Criteria without obtaining shareholder approval of such changes, the Committee shall have sole discretion to make such changes without obtaining shareholder approval.

"**Performance Formula**" means, for a Performance Period, the one or more objective formulas applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

"**Performance Goals**" means, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria. The Committee is authorized at any time during the first 90 days of a Performance Period (or such longer or shorter time period as the Committee shall determine) or at any time thereafter, in its sole and absolute discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period in order to prevent the dilution or enlargement of the rights of Participants based on the following events: (a) asset write-downs; (b) litigation or claim judgments or settlements; (c) the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results; (d) any reorganization and restructuring programs; (e) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30 (or any successor or pronouncement thereto) and/or in management's discussion and analysis of financial condition and results of operations appearing in the Company's annual report to shareholders for the applicable year; (f) acquisitions or divestitures; (g) any other specific unusual or nonrecurring events, or objectively determinable category thereof; (h) foreign exchange gains and losses; and (i) a change in the Company's fiscal year.

"**Performance Period**" means the one or more periods of time not less than one fiscal quarter in duration, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant's right to and the payment of a Performance Compensation Award.

"**Performance Share**" means the grant of a right to receive a number of actual Ordinary Shares or share units based upon the performance of the Company during a Performance Period, as determined by the Committee.

"**Permitted Transferee**" means: (a) a member of the Optionholder's immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships), any person sharing the Optionholder's household (other than a tenant or employee), a trust in which these persons have more than 50% of the beneficial interest, a foundation in which these persons (or the Optionholder) control the management of assets, and any other entity in which these persons (or the Optionholder) collectively own more than 50% of the voting interests; (b) third parties designated by the Committee in connection with a program established and approved by the Committee pursuant to which Participants may receive a cash payment or other consideration in consideration for the transfer of a Non-qualified Share Option; and (c) such other transferees as may be permitted by the Committee in its sole discretion.

"**Restricted Award**" means any Award granted pursuant to ***Section 7.2(a)***.

"**Rule 16b-3**" means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time.

"**Securities Act**" means the United States Securities Act of 1933, as amended.

"**Share Appreciation Right**" means the right pursuant to an Award granted under ***Section 7.1*** to receive, upon exercise, an amount payable in cash or shares equal to the number of shares subject to the Share Appreciation Right that is being exercised multiplied by the excess of (a) the Fair Market Value of an Ordinary Share on the date the Award is exercised, over (b) the exercise price specified in the Share Appreciation Right Award Agreement.

"**Ten Percent Shareholder**" means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) Ordinary Shares possessing more than 10% of the total combined voting power of all classes of ordinary shares of the Company or of any of its Affiliates.

3. <u>Administration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Authority of Committee</u>. The Plan shall be administered by the Committee or, in the Board's sole discretion, by the Board. Subject to the terms of the Plan and the provisions of Section 409A of the Code (if applicable), the Committee's charter and Applicable Laws, and in addition to other express powers and authorization conferred by the Plan, the Committee shall have the 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;(a) to construe and interpret the Plan and apply its provisions;

&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) to promulgate, amend, and rescind rules and regulations relating to the administration 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;(c) to authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes 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;(d) to delegate its authority to one or more Officers of the Company with respect to Awards that do not involve "insiders" within the meaning of Section 16 of the Exchange 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;(e) to determine when Awards are to be granted under the Plan and the applicable 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;(f) from time to time to select, subject to the limitations set forth in this Plan, those Participants to whom Awards shall be granted;

&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) to determine the number of Ordinary Shares to be made subject to each Award and to approve the allotment and issue of Ordinary Shares on exercise of 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;(h) to determine whether each Option is to be an Incentive Share Option or a Non-qualified Share 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;(i) to prescribe the terms and conditions of each Award, including, without limitation, the exercise price and medium of payment and vesting provisions, and to specify the provisions of the Award Agreement relating to such grant;

&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) to determine the target number of Performance Shares to be granted pursuant to a Performance Share Award, the performance measures that will be used to establish the performance goals, the performance period(s) and the number of Performance Shares earned by a 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;(k) to designate an Award (including a cash bonus) as a Performance Compensation Award and to select the Performance Criteria that will be used to establish the Performance Goals;

&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) to amend any outstanding Awards, including for the purpose of modifying the time or manner of vesting, or the term of any outstanding Award; *provided, however*, that if any such amendment impairs a Participant's rights or increases a Participant's obligations under his or her Award or creates or increases a Participant's federal income tax liability with respect to an Award, such amendment shall also be subject to the Participant's consent;

&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) to determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination of their employment for purposes of the Plan, which periods shall be no shorter than the periods generally applicable to Employees under the Company's employment policies;

&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) to make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event that triggers anti-dilution adjustments;

&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) to interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; 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;(p) to exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration of the Plan.

The Committee also may modify the purchase price or the exercise price of any outstanding Award, *provided that* if the modification effects a repricing, shareholder approval shall be required before the repricing is effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Committee Decisions Final</u>. All decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. <u>Delegation</u>. The Board may abolish the Committee at any time and re-vest in the Board the administration of the Plan. The members of the Committee shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies, however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee comprised of only two members, the unanimous consent of its members, whether present or not, or by written resolutions signed by the majority of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business as it may determine to be advisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. <u>Committee Composition</u>. Except as otherwise determined by the Board, the Committee shall consist solely of two or more Non-Employee Directors. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of Rule 16b-3. However, if the Board intends to satisfy such exemption requirements, with respect to Awards to any insider subject to Section 16 of the Exchange Act, the Committee shall be a compensation committee of the Board that at all times consists solely of two or more Non-Employee Directors. Within the scope of such authority, the Board or the Committee may delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Awards to eligible persons who are not then subject to Section 16 of the Exchange Act. Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are granted under the Plan by a compensation committee of the Board that does not at all times consist solely of two or more Non-Employee Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. <u>Indemnification</u>. In addition to such other rights of indemnification as they may have as Directors or members of the Committee, and to the extent allowed by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including attorney's fees, actually incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to which the Committee may be party by reason of any action taken or failure to act under or in connection with the Plan or any Award granted under the Plan, and against all amounts paid by the Committee in settlement thereof (*provided, however*, that the settlement has been approved by the Board) or paid by the Committee in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such Committee did not act in good faith and in a manner which such person reasonably believed to be in the best interests of the Company, or in the case of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; *provided, however*, that within 60 days after institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company the opportunity at its own expense to handle and defend such action, suit or proceeding.

4. <u>Shares Subject to the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. Subject to adjustment in accordance with ***Section 11*** or otherwise by the Board, a total of 2,000,000 Ordinary Shares shall be available for the grant of Awards under the Plan. Ordinary Shares granted in connection with all Awards under the Plan shall be counted against this limit as one (1) Ordinary Share for every one (1) Ordinary Share granted in connection with such Award. During the terms of the Awards, the Company shall keep available for issue or transfer at all times the number of Ordinary Shares required to satisfy such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. Ordinary Shares available for distribution under the Plan may consist, in whole or in part, of authorized and unissued shares, treasury shares or shares reacquired by the Company in any manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. Any Ordinary Shares subject to an Award that is canceled, surrendered or expires prior to exercise or realization, either in full or in part, shall again become available for issuance under the Plan. Any Ordinary Share that again becomes available for future grants pursuant to this ***Section 4.3*** shall be added back as one (1) share. Notwithstanding anything to the contrary contained herein: shares subject to an Award under the Plan shall not again be made available for issuance or transfer under the Plan if such shares are (a) shares tendered in payment of an Option, (b) shares delivered or withheld by the Company to satisfy any tax withholding obligation, or (c) shares covered by a share-settled Share Appreciation Right or other Awards that were not issued upon the settlement of the Award.

5. <u>Eligibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. <u>Eligibility for Specific Awards</u>. Incentive Share Options may be granted only to Employees. Awards other than Incentive Share Options may be granted to Employees, Consultants and Directors and those individuals whom the Committee determines are reasonably expected to become Employees, Consultants and Directors following the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. <u>Ten Percent Shareholders</u>. A Ten Percent Shareholder shall not be granted an Incentive Share Option unless the Option Exercise Price is at least 110% of the Fair Market Value of the Ordinary Shares at the Grant Date and the Option is not exercisable after the expiration of five years from the Grant Date.

6. <u>Option Provisions</u>. Each Option granted under the Plan shall be evidenced by an Award Agreement. Each Option so granted shall be subject to the conditions set forth in this ***Section 6***, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options shall be separately designated Incentive Share Options or Non-qualified Share Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for Ordinary Shares purchased on exercise of each type of Option. Notwithstanding the foregoing, the Company shall have no liability to any Participant or any other person if an Option designated as an Incentive Share Option fails to qualify as such at any time or if an Option is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code and the terms of such Option do not satisfy the requirements of Section 409A of the Code. The provisions of separate Options need not be identical, but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>Term</u>. Subject to the provisions of ***Section 5.2*** regarding Ten Percent Shareholders, no Incentive Share Option shall be exercisable after the expiration of 10 years from the Grant Date. The term of a Non-qualified Share Option granted under the Plan shall be determined by the Committee; *provided, however*, no Non-qualified Share Option shall be exercisable after the expiration of 10 years from the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Exercise Price of An Incentive Share Option</u>. Subject to the provisions of ***Section 5.2*** regarding Ten Percent Shareholders, the Option Exercise Price of each Incentive Share Option shall be not less than 100% of the Fair Market Value of the Ordinary Shares subject to the Option on the Grant Date. Notwithstanding the foregoing, an Incentive Share Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Exercise Price of a Non-qualified Share Option</u>. The Option Exercise Price of each Non-qualified Share Option shall be not less than 100% of the Fair Market Value of the Ordinary Shares subject to the Option on the Grant Date. Notwithstanding the foregoing, a Non-qualified Share Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Consideration</u>. The Option Exercise Price of Ordinary Shares acquired pursuant to an Option shall be paid, to the extent permitted by applicable statutes and regulations, either (a) in cash or by certified or bank check at the time the Option is exercised or (b) in the discretion of the Committee, upon such terms as the Committee shall approve, the Option Exercise Price may be paid: (i) by (A) delivery to the Company of an instrument of transfer and share certificate(s) (or an indemnity in respect of any lost or missing share certificate) in respect of other Ordinary Shares, with a Fair Market Value on the date of delivery equal to the Option Exercise Price (or portion thereof) due for the number of shares being acquired, or (B) by means of attestation whereby (1) the Participant identifies for delivery (and subsequently delivers to the Company in any manner contained in this Plan) specific Ordinary Shares that have an aggregate Fair Market Value on the date of attestation equal to the Option Exercise Price (or portion thereof) and (following delivery to the Company of such identified specific Ordinary Shares in any manner contained in this Plan) receives a number of Ordinary Shares equal to the difference between the number of shares thereby purchased and the number of identified and delivered attestation Ordinary Shares (a "**Share for Share Exchange**"); (ii) a "cashless" exercise program established with a broker; (iii) by reduction in the number of Ordinary Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Option Exercise Price at the time of exercise; (iv) any combination of the foregoing methods; or (v) in any other form of legal consideration that may be acceptable to the Committee. Unless otherwise specifically provided in the Option, the exercise price of Ordinary Shares acquired pursuant to an Option that is paid by delivery (or attestation) to the Company of other Ordinary Shares acquired, directly or indirectly from the Company, shall be paid only by Ordinary Shares of the Company that have been held for more than six months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes). Notwithstanding the foregoing, during any period for which the Ordinary Shares are publicly traded (i.e., the Ordinary Shares are listed on any established stock exchange or a U.S. market system) an exercise by a Director or Officer that involves or may involve a direct or indirect extension of credit or arrangement of an extension of credit by the Company, directly or indirectly, in violation of Section 402(a) of the United States Sarbanes-Oxley Act of 2002 shall be prohibited with respect to any Award under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Transferability of An Incentive Share Option</u>. An Incentive Share Option shall not be transferable except by proven will or by the laws of intestacy, descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Transferability of a Non-qualified Share Option</u>. A Non-qualified Share Option may, in the sole discretion of the Committee, be transferable to a Permitted Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the Non-qualified Share Option does not provide for transferability, then the Non-qualified Share Option shall not be transferable except by proven will or by the laws of intestacy, descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7. <u>Vesting of Options</u>. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may vary. No Option may be exercised for a fraction of an Ordinary Share. The Committee may, but shall not be required to, provide for an acceleration of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event, provided that if such Award is subject to Section 409A of the Code, such acceleration of vesting and exercisability complies with the provisions of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8. <u>Termination of Continuous Service</u>. Unless otherwise provided in an Award Agreement or in an employment agreement the terms of which have been approved by the Committee, in the event an Optionholder's Continuous Service terminates (other than upon the Optionholder's death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (a) the date three months following the termination of the Optionholder's Continuous Service or (b) the expiration of the term of the Option as set forth in the Award Agreement; *provided that*, if the termination of Continuous Service is by the Company for Cause, all outstanding Options (whether or not vested) shall immediately terminate and cease to be exercisable. If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Award Agreement, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9. <u>Extension of Termination Date</u>. An Optionholder's Award Agreement may also provide that if the exercise of the Option following the termination of the Optionholder's Continuous Service for any reason would be prohibited at any time because the issuance of Ordinary Shares would violate the registration requirements under the Securities Act or any other U.S. state or federal securities law or the rules of any securities exchange or interdealer quotation system, then the Option shall terminate on the earlier of (a) the expiration of the term of the Option in accordance with ***Section 6.1*** or (b) the expiration of a period after termination of the Participant's Continuous Service that is three months after the end of the period during which the exercise of the Option would be in violation of such registration or other securities law requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10. <u>Disability of Optionholder</u>. Unless otherwise provided in an Award Agreement, in the event that an Optionholder's Continuous Service terminates as a result of the Optionholder's Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a) the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11. <u>Death of Optionholder</u>. Unless otherwise provided in an Award Agreement, in the event an Optionholder's Continuous Service terminates as a result of the Optionholder's death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder's estate, by a person who acquired the right to exercise the Option by proven bequest or inheritance or by a person designated to exercise the Option upon the Optionholder's death, but only within the period ending on the earlier of (a) the date 12 months following the date of death or (b) the expiration of the term of such Option as set forth in the Award Agreement. If, after the Optionholder's death, the Option is not exercised within the time specified herein or in the Award Agreement, the Option shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12. <u>Incentive Share Option US$100,000 Limitation</u>. To the extent that the aggregate Fair Market Value (determined at the time of grant) of the Ordinary Shares with respect to which Incentive Share Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds US$100,000, the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Non-qualified Share Options.

7. <u>Provisions of Awards Other Than Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. <u>Share Appreciation Rights</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) <u>General</u>. Each Share Appreciation Right granted under the Plan shall be evidenced by an Award Agreement. Each Share Appreciation Right so granted shall be subject to the conditions set forth in this ***Section 7.1***, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Share Appreciation Rights may be granted alone ("**Free Standing Rights**") or in tandem with an Option granted under the Plan ("**Related Rights**"). All such grants shall be exempt from, or comply with, the provisions of Section 409A 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) <u>Grant Requirements</u>. Any Related Right that relates to a Non-qualified Share Option may be granted at the same time the Option is granted or at any time thereafter but before the exercise or expiration of the Option. Any Related Right that relates to an Incentive Share Option must be granted at the same time the Incentive Share Option is granted.

&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) <u>Term of Share Appreciation Rights</u>. The term of a Share Appreciation Right granted under the Plan shall be determined by the Committee; *provided, however*, no Share Appreciation Right shall be exercisable later than the tenth anniversary of 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;(d) <u>Vesting of Share Appreciation Rights</u>. Each Share Appreciation Right may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The Share Appreciation Right may be subject to such other terms and conditions on the time or times when it may be exercised as the Committee may deem appropriate. The vesting provisions of individual Share Appreciation Rights may vary. No Share Appreciation Right may be exercised for a fraction of an Ordinary Share. The Committee may, but shall not be required to, provide for an acceleration of vesting and exercisability in the terms of any Share Appreciation Right upon the occurrence of a specified event, provided that if such Award is subject to Section 409A of the Code, such acceleration of vesting and exercisability complies with the provisions of Section 409A 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;(e) <u>Exercise and Payment</u>. Upon exercise of a Share Appreciation Right, the holder shall be entitled to receive from the Company an amount equal to the number of Ordinary Shares subject to the Share Appreciation Right that is being exercised multiplied by the excess of (i) the Fair Market Value of an Ordinary Share on the date the Award is exercised, over (ii) the exercise price specified in the Share Appreciation Right or related Option. Payment with respect to the exercise of a Share Appreciation Right shall be made on the date of exercise. Payment shall be made in the form of Ordinary Shares (with or without restrictions as to substantial risk of surrender and transferability, as determined by the Committee in its sole discretion), cash or a combination thereof, as determined by 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;(f) <u>Exercise Price</u>. The exercise price of a Free Standing Right shall be determined by the Committee, but shall not be less than the greater of (i) 100% of the Fair Market Value of one Ordinary Share on the Grant Date of such Share Appreciation Right or (ii) the par value of any Ordinary Share. A Related Right granted simultaneously with or subsequent to the grant of an Option and in conjunction therewith or in the alternative thereto shall have the same exercise price as the related Option, shall be transferable only upon the same terms and conditions as the related Option, and shall be exercisable only to the same extent as the related Option; *provided, however*, that a Share Appreciation Right, by its terms, shall be exercisable only when the Fair Market Value per Ordinary Share subject to the Share Appreciation Right and related Option exceeds the exercise price per share thereof and no Share Appreciation Rights may be granted in tandem with an Option unless the Committee determines that the requirements of ***Section 7.1(b)*** are satisfied.

&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) <u>Reduction in the Underlying Option Shares</u>. Upon any exercise of a Related Right, the number of Ordinary Shares for which any related Option shall be exercisable shall be reduced by the number of shares for which the Share Appreciation Right has been exercised. The number of Ordinary Shares for which a Related Right shall be exercisable shall be reduced upon any exercise of any related Option by the number of Ordinary Shares for which such Option has been exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. <u>Restricted Awards</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) <u>General</u>. A Restricted Award is an Award of actual Ordinary Shares ("**Restricted Shares**") or hypothetical Ordinary Share units ("**Restricted Share Units**") having a value equal to the Fair Market Value of an identical number of Ordinary Shares, which may, but need not, provide that such Restricted Award may not be sold, assigned, transferred or otherwise disposed of, pledged or hypothecated as collateral for a loan or as security for the performance of any obligation or for any other purpose for such period (the "**Restricted Period**") as the Committee shall determine. Each Restricted Award granted under the Plan shall be evidenced by an Award Agreement. Each Restricted Award so granted shall be subject to the conditions set forth in this ***Section 7.2***, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award 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) <u>Restricted Shares and Restricted Share Units</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;(i) Each Participant granted Restricted Shares shall execute and deliver to the Company an Award Agreement with respect to the Restricted Shares setting forth the restrictions and other terms and conditions applicable to such Restricted Shares. If the Committee determines that the Restricted Shares shall be held by the Company or in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (A) an escrow agreement satisfactory to the Committee, if applicable and (B) the appropriate blank instrument of transfer with respect to the Restricted Shares covered by such agreement. If a Participant fails to execute an agreement evidencing an Award of Restricted Shares and, if applicable, an escrow agreement and instrument of transfer, the Award shall be null and void. Subject to the restrictions set forth in the Award, the Participant generally shall have the rights and privileges of a shareholder as to such Restricted Shares, including the right to vote such Restricted Shares and the right to receive dividends; *provided that*, any cash dividends and share dividends or bonus shares with respect to the Restricted Shares shall similarly be held in escrow by the Company for the Participant's account, and interest may be credited on the amount of the cash dividends so placed in escrow at a rate and subject to such terms as determined by the Committee. The cash dividends, share dividends or bonus shares so placed in escrow by the Committee and attributable to any particular Restricted Share (and earnings thereon, if applicable) shall be distributed to the Participant in cash or, at the discretion of the Committee, in Ordinary Shares having a Fair Market Value equal to the amount of such dividends, if applicable, upon the release of restrictions on such share and, if such share has been surrendered, the Participant shall have no right to such dividends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 terms and conditions of a grant of Restricted Share Units shall be reflected in an Award Agreement. No Ordinary Shares shall be issued at the time a Restricted Share Unit is granted, and the Company will not be required to set aside a fund for the payment of any such Award. A Participant shall have no voting rights with respect to any Restricted Share Units granted hereunder. The Committee may also grant Restricted Share Units with a deferral feature, if permitted in Section 409A of the Code, whereby settlement is deferred beyond the vesting date until the occurrence of a future payment date or event set forth in an Award Agreement ("**Deferred Share Units**"). At the discretion of the Committee, each Restricted Share Unit or Deferred Share Unit (representing one Ordinary Share) may be credited with cash and share dividends paid by the Company in respect of one Ordinary Share ("**Dividend Equivalents**"). Dividend Equivalents shall not be paid but shall be credited to the Participant's account, and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant's account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to a Participant's account and attributable to any particular Restricted Share Unit or Deferred Share Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in Ordinary Shares having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant upon settlement of such Restricted Share Unit or Deferred Share Unit and, if such Restricted Share Unit or Deferred Share Unit is forfeited, the Participant shall have no right to such Dividend Equivalents.

&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) <u>Restrictions</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;(i) Restricted Shares awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period, and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement is used, the Participant shall not be entitled to delivery of any share certificate representing such Restricted Shares; (B) the shares shall be subject to the restrictions on transferability set forth in the Award Agreement; (C) the shares shall be subject to surrender for nil consideration to the extent provided in the applicable Award Agreement; and (D) to the extent such shares are surrendered for nil consideration, the register of members shall be written up to reflect such surrender, any share certificates representing such Restricted Shares shall be returned to the Company, and all rights of the Participant to such shares and as a shareholder with respect to such shares shall terminate without further obligation on the part 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;(ii) Restricted Share Units and Deferred Share Units awarded to any Participant shall be subject to (A) forfeiture until the expiration of the Restricted Period, and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable Award Agreement, and to the extent such Restricted Share Units or Deferred Share Units are forfeited, all rights of the Participant to such Restricted Share Units or Deferred Share Units shall terminate without further obligation on the part of the Company and (B) such other terms and conditions as may be set forth in the applicable Award 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;(iii) The Committee shall have the authority to remove any or all of the restrictions on the Restricted Shares, Restricted Share Units and Deferred Share Units whenever it may determine that, by reason of changes in Applicable Laws or other changes in circumstances arising after the date the Restricted Shares or Restricted Share Units or Deferred Share Units are granted, such action is appropriate.

&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>Restricted Period</u>. With respect to Restricted Awards, the Restricted Period shall commence on the Grant Date and end at the time or times set forth on a schedule established by the Committee in the applicable Award Agreement. No Restricted Award may be granted or settled for a fraction of an Ordinary Share. The Committee may, but shall not be required to, provide for an acceleration of vesting in the terms of any Award Agreement upon the occurrence of a specified event, provided that if such Award is subject to Section 409A of the Code, such acceleration is consistent with the provisions of Section 409A 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;(e) <u>Delivery of Restricted Shares and Settlement of Restricted Share Units</u>. Upon the expiration of the Restricted Period with respect to any Restricted Shares, the restrictions set forth in ***Section 7.2(c)*** and the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his or her beneficiary, without charge, the share certificate evidencing, or enter into book entry form, the Restricted Shares which have not then been surrendered for nil consideration and with respect to which the Restricted Period has expired (to the nearest full share) and any cash dividends or share dividends credited to the Participant's account with respect to such Restricted Shares and the interest thereon, if any. Upon the expiration of the Restricted Period with respect to any outstanding Restricted Share Units, or at the expiration of the deferral period with respect to any outstanding Deferred Share Units, the Company shall deliver to the Participant, or his or her beneficiary, without charge, one Ordinary Share for each such outstanding vested Restricted Share Unit or Deferred Share Unit ("**Vested Unit**") and cash equal to any Dividend Equivalents credited with respect to each such Vested Unit in accordance with ***Section 7.2(b)(ii)*** hereof and the interest thereon or, at the discretion of the Committee, in Ordinary Shares having a Fair Market Value equal to such Dividend Equivalents and the interest thereon, if any; *provided, however*, that, if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion, elect to pay cash or part cash and part Ordinary Shares in lieu of delivering only Ordinary Shares for Vested Units. If a cash payment is made in lieu of delivering Ordinary Shares, the amount of such payment shall be equal to the Fair Market Value of the Ordinary Shares as of the date on which the Restricted Period lapsed in the case of Restricted Share Units, or the delivery date in the case of Deferred Share Units, with respect to each Vested 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;(f) <u>Share Restrictions</u>. Each certificate or book entry form representing Restricted Shares awarded under the Plan shall bear a legend or notation in such form as the Company deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. <u>Performance Share Awards</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) <u>Grant of Performance Share Awards</u>. Each Performance Share Award granted under the Plan shall be evidenced by an Award Agreement. Each Performance Share Award so granted shall be subject to the conditions set forth in this ***Section 7.3****,* and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. The Committee shall have the discretion to determine: (i) the number of Ordinary Shares or share-denominated units subject to a Performance Share Award granted to any Participant; (ii) the performance period applicable to any Award; (iii) the conditions that must be satisfied for a Participant to earn an Award; and (iv) the other terms, conditions and restrictions of 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;(b) <u>Earning Performance Share Awards</u>. The number of Performance Shares earned by a Participant will depend on the extent to which the performance goals established by the Committee are attained within the applicable Performance Period, as determined by the Committee. No payout shall be made with respect to any Performance Share Award except upon written certification by the Committee that the minimum threshold performance goal(s) have been achieved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. <u>Performance Compensation Awards</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) <u>General</u>. The Committee shall have the authority, at the time of grant of any Award described in this Plan (other than Options and Share Appreciation Rights granted with an exercise price equal to or greater than the Fair Market Value per Ordinary Share on the Grant Date), to designate such Award as a Performance Compensation Award. In addition, the Committee shall have the authority to make an Award of a cash bonus to any Participant and designate such Award as a Performance Compensation 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) <u>Eligibility</u>. The Committee will, in its sole discretion, designate within the first 90 days of a Performance Period (or such shorter or longer time period as the Committee shall determine) which Participants will be eligible to receive Performance Compensation Awards in respect of such Performance Period. However, designation of a Participant eligible to receive an Award hereunder for a Performance Period shall not in any manner entitle the Participant to receive payment in respect of any Performance Compensation Award for such Performance Period. The determination as to whether or not such Participant becomes entitled to payment in respect of any Performance Compensation Award shall be decided solely in accordance with the provisions of this ***Section 7.4****.* Moreover, designation of a Participant eligible to receive an Award hereunder for a particular Performance Period shall not require designation of such Participant eligible to receive an Award hereunder in any subsequent Performance Period and designation of one person as a Participant eligible to receive an Award hereunder shall not require designation of any other person as a Participant eligible to receive an Award hereunder in such period or in any other 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;(c) <u>Discretion of Committee with Respect to Performance Compensation Awards</u>. With regard to a particular Performance Period, the Committee shall have full discretion to select the length of such Performance Period (provided any such Performance Period shall be not less than one fiscal quarter in duration), the type(s) of Performance Compensation Awards to be issued, the Performance Criteria that will be used to establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goal(s) that is (are) to apply to the Company and the Performance Formula. Within the first 90 days of a Performance Period (or such shorter or longer time period as the Committee shall determine), the Committee shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion with respect to each of the matters enumerated in the immediately preceding sentence of this ***Section 7.4(c)*** and record the same in writing.

&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>Payment of Performance Compensation Awards</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;(i) <u>Condition to Receipt of Payment</u>. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by the Company on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Limitation</u>. A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that: (A) the Performance Goals for such period are achieved; and (B) the Performance Formula as applied against such Performance Goals determines that all or some portion of such Participant's Performance Compensation Award has been earned for the Performance 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Certification</u>. Following the completion of a Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, calculate and certify in writing the amount of the Performance Compensation Awards earned for the period based upon the Performance Formula. The Committee shall then determine the actual size of each Participant's Performance Compensation Award for the Performance 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Use of Discretion</u>. The Committee shall not have the discretion to grant or provide payment in respect of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Timing of Award Payments</u>. Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon as administratively practicable following completion of the certifications required by this ***Section 7.4*** but in no event later than 2 1/2 months following the end of the fiscal year during which the Performance Period is completed.

8. <u>Securities Law Compliance</u>. Each Award Agreement shall provide that no Ordinary Shares shall be issued, purchased, sold or transferred thereunder unless and until (a) any then applicable requirements of Cayman Islands law or U.S. federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel and (b) if required to do so by the Company, the Participant has executed and delivered to the Company a letter of investment intent in such form and containing such provisions as the Committee may require. The Company shall use reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell Ordinary Shares upon exercise of the Awards; *provided*, *however*, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Award or any Ordinary Shares issued or issuable pursuant to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Ordinary Shares under the Plan, the Company shall be relieved from any liability for failure to issue and sell Ordinary Shares upon exercise of such Awards unless and until such authority is obtained. Notwithstanding any other provision of this Plan or any Award Agreement, unless the Company is listed on the Cayman Islands Stock Exchange at the applicable time, no offer or invitation, whether directly or indirectly, may be made to the public in the Cayman Islands (within the meaning of section 175 of the Companies Act (as amended) of the Cayman Islands) to subscribe for any of the Company's securities.

9. <u>Use of Proceeds from Shares</u>. Proceeds from the sale of Ordinary Shares pursuant to Awards, or upon exercise thereof, shall constitute general funds of the Company.

10. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. <u>Acceleration of Exercisability and Vesting</u>. The Committee shall have the power to accelerate the time at which an Award may first be exercised or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award stating the time at which it may first be exercised or the time during which it will vest, provided that if such Award is subject to Section 409A of the Code, any such acceleration or exercisability or vesting is in compliance with the provisions of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. <u>Shareholder Rights</u>. Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Ordinary Shares subject to such Award unless and until such Participant has (i) satisfied all requirements for exercise of the Award pursuant to its terms and (ii) such Ordinary Shares shall have been allotted and issued by the Company in the name of the Participant and the Participant's name entered in the register of members of the Company, and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is prior to the date such Ordinary Shares certificate or book entry form is issued, except as provided in ***Section 11*** hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. <u>No Employment or Other Service Rights</u>. Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall confer upon any Participant any employment rights or any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or shall affect the right of the Company or an Affiliate to terminate (a) the employment of an Employee with or without notice and with or without Cause or (b) the service of a Director pursuant to the certificate of incorporation, amended and restated memorandum and articles of association or bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the jurisdiction in which the Company or the Affiliate is incorporated, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4. <u>Transfer; Approved Leave of Absence</u>. For purposes of the Plan, no termination of employment by an Employee shall be deemed to result from either (a) a transfer of employment to the Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate to another, or (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the Employee's right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee otherwise so provides in writing, in either case, except to the extent inconsistent with Section 409A of the Code if the applicable Award is subject thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5. <u>Withholding Obligations</u>. To the extent provided by the terms of an Award Agreement and subject to the discretion of the Committee, the Participant may satisfy any Cayman Islands or United States federal, state or local tax withholding obligation relating to the issue or acquisition of Ordinary Shares under an Award by any of the following means (in addition to the Company's right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold Ordinary Shares from the Ordinary Shares otherwise issuable to the Participant as a result of the exercise or acquisition of Ordinary Shares under the Award, *provided, however*, that no Ordinary Shares are withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered Ordinary Shares of the Company.

11. <u>Adjustments Upon Changes in Share Capital</u>. In the event of changes in the outstanding Ordinary Shares or in the capital structure of the Company by reason of any share or extraordinary cash dividend, share split, share consolidation (or reverse share split), an extraordinary corporate transaction such as any recapitalization, reorganization, merger, consolidation, amalgamation, arrangement, combination, exchange, or other relevant change in capitalization occurring after the Grant Date of any Award, Awards granted under the Plan and any Award Agreements, the exercise price of Options and Share Appreciation Rights, the maximum number of Ordinary Shares subject to all Awards stated in ***Section 4*** and the maximum number of Ordinary Shares with respect to which any one person may be granted Awards during any period stated in ***Section 4*** will be equitably adjusted or substituted, as to the number, price or kind of an Ordinary Share or other consideration subject to such Awards to the extent necessary to preserve the economic intent of such Award. In the case of adjustments made pursuant to this ***Section 11***, unless the Committee specifically determines that such adjustment is in the best interests of the Company or its Affiliates, the Committee shall, in the case of Incentive Share Options, ensure that any adjustments under this ***Section 11*** will not constitute a modification, extension or renewal of the Incentive Share Options within the meaning of Section 424(h)(3) of the Code and in the case of Non-qualified Share Options, ensure that any adjustments under this ***Section 11*** will not constitute a modification of such Non-qualified Share Options within the meaning of Section 409A of the Code. Any adjustments made under this ***Section 11*** shall be made in a manner which does not adversely affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.

12. <u>Effect of Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1. In the discretion of the Board and the Committee, any Award Agreement may provide, or the Board or the Committee may provide by amendment of any Award Agreement or otherwise, notwithstanding any provision of the Plan to the contrary, that in the event of a Change in Control, Options and/or Share Appreciation Rights shall become immediately exercisable with respect to all or a specified portion of the shares subject to such Options or Share Appreciation Rights, and/or the Restricted Period shall expire immediately with respect to all or a specified portion of the shares of Restricted Shares or Restricted Share Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2. In addition, in the event of a Change in Control, the Committee may in its discretion and upon at least 10 days' advance notice to the affected persons, cancel any outstanding Awards and pay to the holders thereof, in cash or shares, or any combination thereof, the value of such Awards based upon the price per Ordinary Share received or to be received by other shareholders of the Company in the event. In the case of any Option or Share Appreciation Right with an exercise price that equals or exceeds the price paid for an Ordinary Share in connection with the Change in Control, the Committee may cancel the Option or Share Appreciation Right without the payment of consideration therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation, amalgamation, arrangement, or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all of the assets and business of the Company and its Subsidiaries, taken as a whole.

13. <u>Amendment of the Plan and Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1. <u>Amendment of Plan</u>. The Board may amend, alter, suspend, discontinue, or terminate this Plan or any portion thereof at any time; *provided that* no such amendment, alteration, suspension, discontinuation or termination shall be made without shareholder approval if such approval is necessary to comply with any Applicable Laws (including, without limitation, as necessary to comply with any tax or regulatory requirement applicable to this Plan); *and provided further*, that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the prior written consent of the affected Participant, holder or beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2. <u>Contemplated Amendments</u>. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Share Options or to the nonqualified deferred compensation provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3. <u>No Impairment of Rights</u>. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4. <u>Amendment of Awards</u>. The Committee may, to the extent consistent with the terms of any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award Agreement, prospectively or retroactively; *provided, however* that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant.

14. <u>General Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1. <u>Forfeiture and Surrender Events</u>. The Committee may specify in an Award Agreement that the Participant's rights, payments and benefits with respect to an Award shall be subject to suspension, reduction, cancellation, surrender for nil consideration, forfeiture, repurchase or recoupment upon the occurrence of certain events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition, non-solicitation, confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to the Participant, a termination of the Participant's Continuous Service for Cause, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2. <u>Clawback</u>. Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3. <u>Other Compensation Arrangements</u>. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to shareholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4. <u>Sub-plans</u>. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5. <u>Deferral of Awards</u>. The Committee may establish one or more programs under the Plan to permit selected Participants the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Participant to payment or receipt of Ordinary Shares or other consideration under an Award. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Committee deems advisable for the administration of any such deferral program. All of such programs and procedures shall be consistent with the rules of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6. <u>Unfunded Plan</u>. The Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish any special or separate fund or to segregate any assets to assure the performance of its obligations under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7. <u>Recapitalizations</u>. Each Award Agreement shall contain provisions required to reflect the provisions of ***Section 11****.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.8. <u>Delivery</u>. Upon exercise of a right granted under this Plan, the Company shall issue Ordinary Shares or pay any amounts due within a reasonable period of time thereafter. Subject to any statutory or regulatory obligations the Company may otherwise have, for purposes of this Plan, thirty (30) days shall be considered a reasonable period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.9. <u>No Fractional Shares</u>. No fractional Ordinary Shares shall be issued or delivered pursuant to the Plan. The Committee shall determine whether cash, additional Awards or other securities or property shall be issued or paid in lieu of fractional Ordinary Shares or whether any fractional shares should be rounded, surrendered or otherwise eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.10. <u>Other Provisions</u>. The Award Agreements authorized under the Plan may contain such other provisions not inconsistent with this Plan, including, without limitation, restrictions upon the exercise of the Awards, as the Committee may deem advisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.11. <u>Section 409A</u>. The Plan and all Awards granted under the Plan are intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan and all Awards Agreements shall be interpreted and administered to be in compliance therewith. Any payments described in the Plan that are due within the "short-term deferral period" as defined in Section 409A of the Code shall not be treated as deferred compensation unless Applicable Laws require otherwise. Notwithstanding anything to the contrary in the Plan or any Award Agreement, to the extent required to avoid accelerated taxation and tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan or Award Agreement during the six (6) month period immediately following the Participant's termination of Continuous Service shall instead be paid on the first payroll date after the six-month anniversary of the Participant's separation from service (or the Participant's death, if earlier). Notwithstanding the foregoing, neither the Company nor the Committee shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Participant under Section 409A of the Code and neither the Company nor the Committee will have any liability to any Participant for such tax or penalty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.12. <u>Disqualifying Dispositions</u>. Any Participant who shall make a "disposition" (as defined in Section 424 of the Code) of all or any portion of Ordinary Shares acquired upon exercise of an Incentive Share Option within two years from the Grant Date of such Incentive Share Option or within one year after the issuance of the Ordinary Shares acquired upon exercise of such Incentive Share Option (a "**Disqualifying Disposition**") shall be required to immediately advise the Company in writing as to the occurrence of the sale and the price realized upon the sale of such Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.13. <u>Section 16</u>. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this ***Section 14.13****,* such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.14. <u>Beneficiary Designation</u>. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries by whom any right under the Plan is to be exercised in case of such Participant's death. Each designation will revoke all prior designations by the same Participant, shall be in a form reasonably prescribed by the Committee and shall be effective only when filed by the Participant in writing with the Company during the Participant's lifetime.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.15. <u>Expenses</u>. The costs of administering the Plan shall be paid by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.16. <u>Severability</u>. If any of the provisions of the Plan or any Award Agreement is held to be invalid, illegal or unenforceable, whether in whole or in part, such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the remaining provisions shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.17. <u>Plan Headings</u>. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.18. <u>Non-Uniform Treatment</u>. The Committee's determinations under the Plan need not be uniform and may be made by it selectively among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective Award Agreements.

15. <u>Effective Date of Plan</u>. The Plan shall become effective as of the Effective Date. This Plan does not need to be approved by the shareholders of the Company under the laws of the Cayman Islands.

16. <u>Termination or Suspension of the Plan</u>. The Plan shall terminate automatically on May 27, 2036. No Award shall be granted pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate the Plan at any earlier date pursuant to ***Section 13.1*** hereof, provided any such suspension or termination is consistent with the provisions of Section 409A of the Code. No Awards may be granted under the Plan while the Plan is suspended or after it is terminated.

17. <u>Choice of Law</u>. Except to the extent governed by United States federal law, the laws of the Cayman Islands shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to the principles of conflicts of law thereof.

## Exhibit 10.4

**Exhibit 10.4**

**SHARE OPTION AGREEMENT**

This Share Option Agreement (this "**Agreement**") is made and entered into as of the Grant Date specified below by and between Ticketplus Ltd., an exempted company limited by shares incorporated under the laws of the Cayman Islands (the "**Company**"), and the participant named below (the "**Participant**").

---

| |
|:---|
| Name of Participant: |
| Grant Date: |
| Expiration Date: |
| Exercise Price: |
| Number of Option Shares: |
| Type of Option: |
| Vesting Start Date: |
| Vesting Schedule: |

---

1. <u>Grant of Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Grant</u>. The Company hereby grants to the Participant an option (the "**Option**") to purchase the total number of Ordinary Shares of the Company equal to the number of Option Shares set forth above, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the Ticketplus Ltd. 2026 Equity Incentive Plan (the "**Plan**"). Capitalized terms used but not defined herein will have the meanings ascribed to them in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Type of Option</u>. The Option is intended to be either a Non-qualified Share Option (i.e., *not* an Incentive Share Option) or an Incentive Share Option within the meaning of Section 422 of the Code, as indicated above, although the Company makes no representation or guarantee that the Option will qualify as an Incentive Share Option. To the extent that the aggregate Fair Market Value (determined on the Grant Date) of the Ordinary Shares with respect to which Incentive Share Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and its Affiliates) exceeds US$100,000, the Option or portion thereof which exceeds such limit (according to the order in which they were granted) shall be treated as a Non-qualified Share Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Consideration</u>. The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company and is subject to the terms and conditions of the Plan.

2. <u>Exercise Period; Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Vesting Schedule</u>. The Option will become vested and exercisable in accordance with the Vesting Schedule specified above until the Option is 100% vested. The unvested portion of the Option will not be exercisable and shall automatically lapse on or after the Participant's termination of Continuous Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. <u>Expiration</u>. The Option will expire and automatically lapse on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.

3. <u>Termination of Continuous Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Termination for Reasons Other Than Cause, Death or Disability</u>. If the Participant's Continuous Service is terminated for any reason other than Cause, death or Disability, the Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of (a) the date that is three months following the termination of the Participant's Continuous Service or (b) the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Termination for Cause</u>. If the Participant's Continuous Service is terminated for Cause, the Option (whether vested or unvested) shall immediately terminate, automatically lapse and cease to be exercisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. <u>Termination Due to Disability</u>. If the Participant's Continuous Service terminates as a result of the Participant's Disability, the Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of (a) the date that is 12 months following the Participant's termination of Continuous Service or (b) the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. <u>Termination Due to Death</u>. If the Participant's Continuous Service terminates as a result of the Participant's death, or the Participant dies within a period following termination of the Participant's Continuous Service during which the vested portion of the Option remains exercisable, the vested portion of the Option may be exercised by the Participant's estate, by a person who acquired the proven right to exercise the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant's death, but only within the time period ending on the earlier of (a) the date that is 12 months following the Participant's death or (b) the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. <u>Termination of Director Agreement before IPO</u>. If the Participant is a member of the board of directors of the Company and has entered into an Independent Director Agreement with the Company that provides that such Option will begin vesting on the date that the Company's registration statement relating to its initial public offering is declared effective by the United States Securities and Exchange Commission and such Independent Director Agreement is terminated by the Company or the Participant prior to the effective date of such registration statement, then the Option granted hereunder shall automatically terminate and lapse and the Participant shall no longer have any rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. <u>Extension of Termination Date</u>. If following the Participant's termination of Continuous Service for any reason the exercise of the Option is prohibited because the exercise of the Option would violate the registration requirements under the Securities Act or any other state or federal securities law or the rules of any securities exchange or interdealer quotation system, then the expiration of the Option shall be tolled until the date that is thirty (30) days after the end of the period during which the exercise of the Option would be in violation of such registration or other securities requirements provided always that such tolling shall not be to a date which is more than 7 years from the Grant Date.

4. <u>Manner of Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. <u>Election to Exercise</u>. To exercise the Option, the Participant (or in the case of exercise after the Participant's death or incapacity, the Participant's proven executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed share option exercise agreement in the form attached hereto as <u>Exhibit A</u>, or as is approved by the Committee from time to time (the "**Exercise Agreement**"), which shall set forth, *inter alia*: (a) the Participant's election to exercise the Option; (b) the number of Ordinary Shares being purchased; (c) any restrictions imposed on the shares; and (d) any representations, warranties and agreements regarding the Participant's investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. <u>Payment of Exercise Price</u>. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either: (a) in cash or by certified or bank check at the time the Option is exercised; (b) by (A) delivery to the Company of an instrument of transfer and share certificate(s) (or an indemnity in respect of any lost or missing share certificate) in respect of other Ordinary Shares, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of shares being acquired, or (B) by means of attestation whereby (1) the Participant identifies for delivery (and subsequently delivers to the Company in any manner contained in the Plan) specific Ordinary Shares that have an aggregate Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and (following delivery to the Company of such identified specific Ordinary Shares in any manner contained in the Plan) receives a number of Ordinary Shares equal to the difference between the number of shares thereby purchased and the number of identified and delivered attestation Ordinary Shares (a "**Share for Share Exchange**"); (c) through a "cashless exercise program" established with a broker; (d) by reduction in the number of shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise; (e) by any combination of the foregoing methods; or (f) in any other form of legal consideration that may be acceptable to the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. <u>Withholding</u>. Prior to the issuance of shares upon the exercise of the Option, the Participant must make arrangements satisfactory to the Company to pay or provide for any applicable Cayman Islands or U.S. federal, state and local withholding obligations of the Company. The Participant may satisfy any Cayman Islands or U.S. federal, state or local tax withholding obligation relating to the exercise of the Option by any of the following means: (a) tendering a cash payment; (b) authorizing the Company to withhold Ordinary Shares from the Ordinary Shares otherwise issuable to the Participant as a result of the exercise of the Option; *provided, however*, that no Ordinary Shares are withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company an instrument of transfer and share certificate(s) (or an indemnity in respect of any lost or missing share certificate) in respect of previously owned and unencumbered Ordinary Shares. The Company has the right to withhold from any compensation paid to a Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Issuance of Shares</u>. Provided that the Exercise Agreement and payment are in form and substance satisfactory to the Company, the Company shall issue the Ordinary Shares registered in the name of the Participant, the Participant's authorized assignee, or the Participant's legal representative which shall be evidenced by entry in the register of members of the Company and share certificates representing the shares with the appropriate legends affixed thereto, appropriate entry on the books of the Company or of a duly authorized transfer agent, or other appropriate means as determined by the Company.

5. <u>No Right to Continued Service; No Rights as Shareholder</u>. Neither the Plan nor this Agreement shall confer upon the Participant any employment rights or any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant's Continuous Service at any time, with or without Cause. The Participant shall not have any rights as a shareholder with respect to any Ordinary Shares subject to the Option prior to the date of issuance and allotment of the relevant Ordinary Shares to the Participant following the exercise of the Option.

6. <u>Transferability</u>. The Option is not transferable by the Participant other than to a designated beneficiary upon the Participant's death or by will or the laws of descent and distribution, and is exercisable during the Participant's lifetime only by him or her. No assignment or transfer of the Option, or the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise (except to a designated beneficiary upon death by will or the laws of descent or distribution) will vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Option will terminate and become of no further effect.

7. <u>Change in Control</u>. In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days' advance notice to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per Ordinary Share received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for an Ordinary Share in connection with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

8. <u>Adjustments</u>. The Ordinary Shares subject to the Option may be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

9. <u>Tax Liability and Withholding</u>. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Participant's responsibility and the Company (a) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale of any shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant's liability for Tax-Related Items.

10. <u>Qualification as an Incentive Share Option</u>. If this Option is an Incentive Share Option, the Participant understands that in order to obtain the benefits of an Incentive Share Option, no sale or other disposition may be made of shares for which incentive share option treatment is desired within one (1) year following the date of exercise of the Option or within two (2) years from the Grant Date. The Participant understands and agrees that the Company shall not be liable or responsible for any additional tax liability the Participant incurs in the event that the United States Internal Revenue Service for any reason determines that this Option does not qualify as an incentive stock option within the meaning of the Code.

11. <u>Disqualifying Disposition</u>. If this Option is an Incentive Share Option and the Participant disposes of the Ordinary Shares prior to the expiration of either two (2) years from the Grant Date or one (1) year from the date the shares are transferred to the Participant pursuant to the exercise of the Option, the Participant shall notify the Company in writing within thirty (30) days after such disposition of the date and terms of such disposition. The Participant also agrees to provide the Company with any information concerning any such dispositions as the Company requires for tax purposes.

12. <u>Compliance with Law</u>. The exercise of the Option and the issuance and transfer of Ordinary Shares shall be subject to compliance by the Company and the Participant with all applicable requirements of Cayman Islands and U.S. federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's Ordinary Shares may be listed. No Ordinary Shares shall be issued pursuant to this Option unless and until any then applicable requirements of Cayman Islands and U.S. state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the Ordinary Shares with the United States Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

13. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's registered office. Any notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

14. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the Cayman Islands without regard to conflict of law principles.

15. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

16. <u>Options Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

17. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom the Option may be transferred by will or the laws of descent or distribution.

18. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

19. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment with the Company.

20. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Participant's material rights under this Agreement without the Participant's consent.

21. <u>No Impact on Other Benefits</u>. The value of the Participant's Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

22. <u>Grantee Undertaking</u>. The Participant hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on Participant pursuant to the express provisions of this Agreement.

23. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

24. <u>Acceptance</u>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Grant Date set forth above.

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Ticketplus ltd.** | **Ticketplus ltd.** |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| |
|:---|
| Address: |
| **<u>PARTICIPANT</u>:** |
| (Signature) |
| (Name) |
| Address: |

---

**Exhibit A**

**SHARE OPTION EXERCISE AGREEMENT**

This Share Option Exercise Agreement (this "**Exercise Agreement**") is made and entered into as of _______________ by and between Ticketplus Ltd., an exempted company limited by shares incorporated under the laws of the Cayman Islands (the "**Company**"), and the purchaser named below (the "**Purchaser**"). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Ticketplus Ltd. 2026 Equity Incentive Plan (the "**Plan**").

---

| |
|:---|
| Purchaser Name: ___________________________________________________________________________ |
| Address: _________________________________________________________________________________ |
| Tax ID or Social Security Number: ______________________________________________________________ |

---

1. <u>Option</u>. The Purchaser was granted an option (the "**Option**") to purchase Ordinary Shares pursuant to the terms of the Plan and the Share Option Agreement between the Company and the Purchaser dated ________________, as follows:

Type of Option (check one):

____ Incentive Share Option

____ Non-qualified Share Option

---

| |
|:---|
| Grant Date: ______________________________________ |
| Number of Option shares: ___________________________ |
| Exercise Price per share: _____________________________ |
| Expiration Date: ___________________________________ |

---

2. <u>Exercise of Option</u>. The Purchaser hereby elects to exercise the Option to purchase __________ Ordinary Shares ("**Shares**"), all of which are vested pursuant to the terms of the Share Option Agreement. The total Exercise Price for all of the Shares is ________ (Total Shares times Exercise Price per Share).

3. <u>Payment of the Exercise Price; Delivery of Required Documents</u>. The Purchaser encloses payment in full of the total Exercise Price for the Shares in the following form(s), as authorized by the Share Option Agreement (check and complete as appropriate):

____ In cash (by certified or bank check) in the amount of US$_____, receipt of which is acknowledged by the Company.

____ By delivery of ______ an instrument of transfer and share certificate(s) (or an indemnity in respect of any lost or missing share certificate) in respect of previously acquired Ordinary Shares.

____ Through a Share for Share Exchange (Contact Company CFO).

____ By a broker-assisted cashless exercise (Contact Company CFO).

____ By reduction in the number of Shares otherwise deliverable upon exercise with a Fair Market Value equal to the total Exercise Price (Contact Company CFO).

The Purchaser will deliver any other documents that the Company requires.

4. <u>Tax Withholding</u>. The Purchaser authorizes payroll withholding and will make arrangements satisfactory to the Company to pay or provide for any applicable Cayman Islands and U.S. federal, state and local withholding obligations of the Company. The Purchaser may satisfy any Cayman Islands or U.S. federal, state or local tax withholding obligation relating to the exercise of the Option by any of the methods set forth in the Plan or Share Option Agreement. The Purchaser understands that ownership of the Shares will not be transferred to the Purchaser until the total Exercise Price and all applicable withholding taxes have been paid.

5. <u>Notice of Disqualifying Disposition</u>. If the Option is an Incentive Share Option, the Purchaser agrees to promptly notify the Secretary at the Company if he or she transfers any of the Shares purchased pursuant to this Exercise Agreement within one (1) year from the date of exercise of the Option or within two (2) years from the Grant Date.

6. <u>Tax Consequences</u>. The Purchaser understands that there may be adverse Cayman Islands or U.S. federal or state tax consequences as a result of his or her purchase or disposition of the Shares. The Purchaser also acknowledges that he or she has been advised to consult with a tax advisor in connection with the purchase or disposition of the Shares. The Purchaser is not relying on the Company for tax advice.

7. <u>Compliance with Law</u>. The issuance and transfer of the Shares will be subject to, and conditioned upon compliance by the Company and the Purchaser with, all applicable Cayman Islands and U.S. federal, state and local laws and regulations and all applicable requirements of any stock exchange or automated quotation system on which the Shares may be listed or quoted at the time of such issuance or transfer.

8. <u>Successors and Assigns; Binding Effect</u>. The Company may assign any of its rights under this Exercise Agreement. This Exercise Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. This Exercise Agreement will be binding upon the Purchaser and the Purchaser's heirs, executors, legal representatives, successors and assigns.

9. <u>Governing Law</u>. This Exercise Agreement will be construed and interpreted in accordance with the laws of the Cayman Islands without regard to conflict of law principles.

10. <u>Severability</u>. The invalidity or unenforceability of any provision of this Exercise Agreement shall not affect the validity or enforceability of any other provision, and each provision of this Exercise Agreement shall be severable and enforceable to the extent permitted by law.

11. <u>Counterparts</u>. This Exercise Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

12. <u>Notice</u>. Any notice required to be delivered to the Company under this Exercise Agreement shall be in writing and addressed to the Secretary of the Company at the Company's registered office. Any notice required to be delivered to the Purchaser under this Exercise Agreement shall be in writing and addressed to the Purchaser at the Purchaser's address as set forth above. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

13. <u>Acknowledgement</u>. The Purchaser understands that he or she is purchasing the Shares pursuant to the terms and conditions of the Plan and the Share Option Agreement, copies of which the Purchaser has read and understands.

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

---

| |
|:---|
| **<u>COMPANY:</u>** |
| **Ticketplus Ltd.** |
| By: |
| Name: |
| Title: |
| **<u>PURCHASER</u>:** |
| Name: |

---

## Exhibit 10.5

**Exhibit 10.5**

**RESTRICTED SHARES AWARD AGREEMENT**

This Restricted Shares Award Agreement (this "**Agreement**") is made and entered into as of _______________ (the "**Grant Date**") by and between Ticketplus Ltd., an exempted company limited by shares incorporated under the laws of the Cayman Islands (the "**Company**"), and ______________ (the "**Grantee**").

**WHEREAS**, the Company has adopted the Ticketplus Ltd. 2026 Equity Incentive Plan (the "**Plan**") pursuant to which awards of Restricted Shares may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Restricted Shares provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Restricted Shares</u>. Pursuant to Section 7.2 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Shares Award consisting of, in the aggregate, _________ Ordinary Shares of the Company (the "**Restricted Shares**"), on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

2. <u>Consideration</u>. The grant of the Restricted Shares is made in consideration of the services to be rendered by the Grantee to the Company or any Affiliate.

3. <u>Restricted Period; Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals have been satisfied, the Restricted Shares will vest in accordance with the following schedule:

---

| | |
|:---|:---|
| **Vesting Date** | **Ordinary Shares** |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |

---

The period over which the Restricted Shares vest is referred to as the "**Restricted Period**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Shares have vested other than death or retirement (in the case of a Director), or termination of the Grantee's Continuous Service is terminated by the Company or an Affiliate for Disability, the Grantee's unvested Restricted Shares shall be surrendered for nil consideration upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. For the purposes of this Agreement, any member of the Board shall be and is hereby irrevocably appointed to be the lawful attorney of the Grantee with full power and authority to implement any surrender of Restricted Shares for nil consideration and to execute all documents to effect and legally complete any such surrender of Restricted Shares for nil consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, in the event of the Grantee's death or if the Grantee's Continuous Service is terminated by the Company or an Affiliate for Disability, 100% of the unvested Restricted Shares shall vest as of the date of such termination.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period, the Restricted Shares or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Shares or the rights relating thereto during the Restricted Period shall be wholly ineffective and, if any such attempt is made, the Restricted Shares will be immediately surrendered for nil consideration by the Grantee (and the Company may invoke the power of attorney granted in Clause 3.2 of this Agreement for such purposes) and all of the Grantee's rights to such shares shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Shareholder; Dividends</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall be the record owner of the Restricted Shares until the Ordinary Shares are sold or otherwise disposed of, and shall be entitled to all of the rights of a shareholder of the Company including, without limitation, the right to vote such shares and receive all dividends or other distributions paid with respect to such shares. Notwithstanding the foregoing, any dividends or other distributions shall be subject to the same restrictions on transferability as the shares of Restricted Shares with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. The Company may (i) enter the name of the Grantee in the Company's register of members and issue share certificates or (ii) evidence the Grantee's interest by using a restricted book entry account with the Company's transfer agent, registered office service provider, secretary, or other appropriate means as determined by the Company. Physical possession or custody of any share certificates that are issued may be retained by the Company until such time as the Restricted Shares vest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If the Grantee surrenders any Restricted Shares for nil consideration in accordance with this Agreement, the Grantee shall, on the date of such surrender, no longer have any rights as a shareholder with respect to such Restricted Shares and shall no longer be entitled to vote or receive dividends or other distributions on such shares.

6. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any employment rights or any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

7. <u>Adjustments</u>. If any change is made to the outstanding Ordinary Shares or the capital structure of the Company, if required, the Ordinary Shares shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

8. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Restricted Shares and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any Cayman Islands or U.S. federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold Ordinary Shares from the Ordinary Shares otherwise issuable or deliverable to the Grantee as a result of the vesting of the Restricted Shares; *provided, however*, that no Ordinary Shares shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the Restricted Shares or the subsequent sale of any shares; and (b) does not commit to structure the Restricted Shares to reduce or eliminate the Grantee's liability for Tax-Related Items.

9. <u>Section 83(b) Election</u>. The Grantee may make an election under Code Section 83(b) (a "**Section 83(b) Election**") with respect to the Restricted Shares. Any such election must be made within thirty (30) days after the Grant Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

10. <u>Compliance with Law</u>. The issuance and transfer of Ordinary Shares shall be subject to compliance by the Company and the Grantee with the amended and restated memorandum and articles of association of the Company, all applicable requirements of Cayman Islands and U.S. federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's Ordinary Shares may be listed. No Ordinary Shares shall be issued or transferred unless and until any then applicable requirements of the amended and restated memorandum and articles of association of the Company, Cayman Islands and U.S. state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the Ordinary Shares with the United States Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Legends</u>. A legend may be placed on any certificate(s) or other document(s) delivered to the Grantee indicating restrictions on transferability of the shares of Restricted Shares pursuant to this Agreement or any other restrictions that the Committee may deem advisable under the rules, regulations and other requirements of the United States Securities and Exchange Commission, any applicable Cayman Islands or federal or state securities laws or any stock exchange on which the Ordinary Shares are then listed or quoted.

12. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's registered office. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

13. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the Cayman Islands without regard to conflict of law principles.

14. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

15. <u>Restricted Shares Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's board of Directors. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

16. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the Restricted Shares may be transferred by will or the laws of descent or distribution.

17. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

18. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Restricted Shares in this Agreement does not create any contractual right or other right to receive any Restricted Shares or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

19. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the Restricted Shares, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

20. <u>No Impact on Other Benefits</u>. The value of the Grantee's Restricted Shares is not part of his normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

21. <u>Grantee Undertaking</u>. The Grantee hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on Grantee pursuant to the express provisions of this Agreement.

22. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

23. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Shares subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Shares or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

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

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Ticketplus ltd.** | **Ticketplus ltd.** |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| |
|:---|
| Address: |
| **<u>GRANTEE</u>:** |
| (Signature) |
| (Name) |
| Address: |

---

Tax ID or SSN:

## Exhibit 10.6

**Exhibit 10.6**

**RESTRICTED SHARE UNIT AWARD AGREEMENT**

This Restricted Share Unit Award Agreement (this "**Agreement**") is made and entered into as of _______________ (the "**Grant Date**") by and between Ticketplus Ltd., an exempted company limited by shares incorporated under the laws of the Cayman Islands (the "**Company**"), and ______________ (the "**Grantee**").

**WHEREAS**, the Company has adopted the Ticketplus Ltd. 2026 Equity Incentive Plan (the "**Plan**") pursuant to which awards of Restricted Share Units may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Restricted Share Units provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Restricted Share Units</u>. Pursuant to Section 7.2 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Award for _________ Restricted Share Units (the "**RSUs**"), on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan. Each RSU represents the right to receive one Ordinary Share upon vesting of such RSU.

2. <u>Consideration</u>. The grant of the RSUs is made in consideration of the services to be rendered by the Grantee to the Company or any Affiliate.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. The RSUs will vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth below, subject to the Grantee's Continuous Service through the applicable vesting date, as a condition to the vesting of the applicable installment of the RSUs and the rights and benefits under this Agreement. The RSUs which have vested and are no longer subject to forfeiture are referred to as "**Vested RSUs**." All RSUs which have not become Vested RSUs are referred to as "**Nonvested RSUs**."

---

| | |
|:---|:---|
| **Vesting Date** | **Number of RSUs** |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's (a) death, (b) Disability, (c) retirement, or (d) termination by the Company without Cause, any Nonvested RSUs will be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and the Grantee, or the Grantee's beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. In the event of the Grantee's death, Disability, retirement, or termination by the Company without Cause, all Nonvested RSUs shall become fully vested and no longer subject to forfeiture upon the date of such event.

4. <u>Payment Upon Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. As soon as administratively practicable following the vesting of any RSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (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 issue or transfer to the Grantee (or any transferee permitted under Section 5 hereof) a number of Ordinary Shares (the "**Shares**"), either by (i) entering the name of the Grantee in the register of members of the Company and delivering one or more certificates for such shares or (ii) by entering such Shares in book entry form, as determined by the Company in its sole discretion, equal to the number of RSUs subject to this award that vest on the applicable vesting date, unless such RSUs terminate prior to the given vesting date pursuant to Section 3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. Notwithstanding anything to the contrary in this Agreement, the Company shall be entitled to require payment by the Grantee of any sums required by applicable law to be withheld with respect to the grant of RSUs or the issuance of Shares. Such payment shall be made by deduction from other compensation payable to the Grantee or in such other form of consideration acceptable to the Company which may, in the sole discretion of the Committee, include:

&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) 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) surrender of Shares (including, without limitation, shares otherwise issuable under the RSUs) held for such period of time as may be required by the Committee in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the minimum amount required to be withheld by statute; 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;(c) other property acceptable to the Committee (including, without limitation, through the delivery of a notice that the Grantee has placed a market sell order with a broker with respect to Shares then issuable under the RSUs, 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 its withholding obligations; 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).

The Company shall not be obligated to deliver any new certificate representing Shares to the Grantee or the Grantee's legal representative or enter such share in book entry form unless and until the Grantee or the Grantee's legal representative shall have paid or otherwise satisfied in full the amount of all Cayman Islands, U.S. federal, state, local or foreign taxes applicable to the taxable income of the Grantee resulting from the grant or vesting of the RSUs or the issuance of shares.

5. <u>Conditions to Delivery of Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Subject to Section 3, the Shares to be issued or transferred hereunder, 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 deliverable hereunder or portion thereof prior to fulfillment of all of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The admission of such Shares to listing on all stock exchanges on which such Shares are then listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The completion of any registration or other qualification of such Shares under any Cayman Islands, state or U.S. federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The obtaining of any approval or other clearance from any Cayman Islands, U.S. state or federal governmental agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The receipt by the Company of full payment for such Shares, including payment of any applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 4 hereof; 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;(e) The lapse of such reasonable period of time following the vesting of any RSUs as the Committee may from time to time establish for reasons of administrative convenience.

6. <u>No Rights as Shareholder</u>. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a shareholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs unless and until such Shares shall have been issued by the Company and held of record by such holder. No adjustment will be made for a dividend or other right for which the record date is prior to the date of such entry.

7. <u>Grant is Not Transferable</u>. During the lifetime of Grantee, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed. Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of the Grantee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, 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 attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

8. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any employment rights or any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

9. <u>Compliance with Law</u>. The Grantee 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 and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, U.S. state and any applicable foreign securities laws and regulations. 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 such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

10. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the Cayman Islands without regard to conflict of law principles.

11. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

12. <u>RSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's board of Directors. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

13. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the RSUs may be transferred by will or the laws of descent or distribution.

14. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

15. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the RSUs in this Agreement does not create any contractual right or other right to receive any RSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

16. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the RSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

17. <u>No Impact on Other Benefits</u>. The value of the Grantee's RSUs is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

18. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

19. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the RSUs subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the RSUs or disposition of the Shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

20. <u>Grantee Undertaking</u>. The Grantee hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Grantee pursuant to the express provisions of this Agreement.

21. <u>Section 409A</u>. Although the Company makes no guarantee with respect to the tax treatment of the RSUs, the RSUs are intended to be exempt from Section 409A of the Code and this Agreement shall be limited, construed, administered and interpreted in accordance with such intent. Provided that the Company does not guarantee to the Grantee any particular tax treatment of the RSUs, in no event whatsoever shall the Company or its Affiliates be liable for any additional tax, interest or penalties that may be imposed on the Grantee by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code. Each payment under this Agreement shall be treated as a separate payment for purposes of Section 409A of the Code. The Committee reserves the right to unilaterally amend this Agreement without the consent of the Grantee in order to maintain an exclusion from the application of, or to maintain compliance with, Section 409A of the Code; and the Grantee hereby acknowledges and consents to such rights of the Committee.

[SIGNATURE PAGE FOLLOWS]

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

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Ticketplus Ltd.** | **Ticketplus Ltd.** |
| By: |  |
|  | Name: |
|  | Title: |

---

---

| |
|:---|
| Address: |
| **<u>GRANTEE</u>:** |
| (Signature) |
| (Name) |
| Address: |

---

Tax ID or SSN:

## Exhibit 10.8

**Exhibit 10.8**

**BANCO ESTADO**

**LOAN AGREEMENTS**

English translations prepared by Ticketplus Ltd. Original document in Spanish prevails. Untranslatable Chilean legal terms are kept in Spanish in quotation marks and are listed at the end of each document.

**I. COMMERCIAL CREDIT APPLICATION - LEGAL ENTITY (Cover sheet)**

**Application date:** 04-01-2024

**Customer information**

● **Corporate name:** TICKETPLUS SPA

● **Tax ID ("RUT"):** [\*\*\*]

● **Domicile:** Avenida Apoquindo 4615

● **District ("comuna"):** Las Condes

● **City:** Santiago

**Credit characteristics**

● **Currency:** USD (marked); also marked CLP option

● **Amount:** $2,000,000,000 (Two Billion Chilean Pesos)

● **Term:** 62 months

● **Number of installments:** 60

● **Annual rate:** 9%

● **First maturity date:** 07-01-2024

● **Disbursement to:** Checking account No. [\*\*\*]

**Legal representatives**

● Chien-Fu Chen Chen, RUT [\*\*\*]

**Joint and several guarantors and co-debtors ("Aval / Fiador Solidario")**

● Chien-Fu Chen Chen, RUT [\*\*\*]

● Yethro Dinamarca Santelices, RUT [\*\*\*]

**Attorneys-in-fact ("Apoderados") signing the guarantee**

● Catalina Oriana Latorre Valdevenito (on behalf of Yethro Dinamarca Santelices), RUT [\*\*\*]

● Chien-Fu Chen Chen (on behalf of Yethro Dinamarca Santelices), RUT [\*\*\*]

**III. Declaration and authorization [summary]** 

&nbsp;&nbsp;&nbsp;&nbsp;1. Borrower declares the credit will be governed by Banco Estado's standard rules, including the bank's right
to demand early total payment in case of default of one or more installments and to charge maximum legal default interest. If granted
under the "FOGAES Apoyo a la Construcción" state guarantee, disbursement is conditional on the guarantee being approved
by such Fund.

&nbsp;&nbsp;&nbsp;&nbsp;2. Borrower irrevocably authorizes Banco Estado to debit the principal, indexation, interest, commissions,
taxes and any related expense from any current account, electronic checking account or any other account held by Borrower at the bank.

&nbsp;&nbsp;&nbsp;&nbsp;3. Borrower agrees to reimburse the bank for "Impuesto de Timbres y Estampillas" (Stamp Tax) plus
indexation and interest if the credit was granted as export financing ("PAE") and Borrower fails to evidence exports to the
Internal Revenue Service ("Servicio de Impuestos Internos") on a timely basis.

&nbsp;&nbsp;&nbsp;&nbsp;4. Customer authorizes Banco Estado and its affiliates to collect, store, communicate and transmit personal
data necessary for the performance of this contract.

**II. PROMISSORY NOTE - INDEXED / NON-INDEXED ("Reajustable /No Reajustable") - EQUAL INSTALLMENTS - FIXED RATE**

**Place and date:** Santiago, April 1, 2024 **Payment office:** Banco del Estado de Chile, Santiago Principal branch

I/We owe and shall pay to the order of Banco del Estado de Chile, at its Santiago Principal Office, the amount of $2,000,000,000 (TWO BILLION CHILEAN PESOS), as principal received as a loan, plus interest at 9% annual rate, beginning on April 1, 2024.

If principal is expressed in "Unidades de Fomento" (UF, Chilean inflation-indexed unit), payment shall be made in pesos at the equivalent value.

**Form of payment**

Principal and interest shall be paid in 60 equal monthly successive installments, the first one maturing on July 1, 2024, and the following on the 1st day of each corresponding month, except as otherwise stated. Each installment is $42,281,221, except the last one which is $42,281,235.

**Default interest and acceleration**

In case of late payment of one or more installments, Borrower shall pay the maximum agreed interest rate legally allowed for this type of money credit transaction, from the date of default until effective payment. The Bank may also declare the entire debt due and payable as if the term had elapsed, and pursue judicial collection. In case of agreed extension or renewal upon default, the maximum interest rate legally allowed at the date of such new agreement shall apply.

**Indivisibility**

This obligation is contracted with the character of "indivisible" and may be enforced in full against any of my heirs or successors. I release the holder of this instrument from the obligation of "protesto" (formal default certification).

**Domicile**

I establish domicile in the District where the payment Office is located, without prejudice to the holder's right to elect, for legal purposes of this instrument, any other domicile listed herein or where the Bank has an Office.

**Signatures**

● **Debtor (Suscriptor):** TICKETPLUS SPA, RUT [\*\*\*]

● **Attorney-in-fact (Apoderado):** CHIEN-FU CHEN CHEN, RUT [\*\*\*]

● **Domicile:** Avenida Apoquindo 4615, Las Condes, Santiago

**III. JOINT AND SEVERAL GUARANTEE AND CO-DEBTORSHIP ("Aval(es) y Codeudoría(s) Solidaria(s)")**

We constitute ourselves separately as joint and several guarantors and co-debtors of this Promissory Note and accept, without need of new signatures, the extensions, renewals and modifications agreed between the principal debtor and the creditor Bank. We contract this obligation with the character of "indivisible" and it may be enforced in full against any of our successors. We release the holder from the obligation of "protesto". We establish domicile in the District where the payment Office is located.

We sign as joint and several guarantors and co-debtors on the date(s) indicated:

**1. Joint and several guarantor and co-debtor:** YETHRO DINAMARCA SANTELICES, RUT [\*\*\*]

● Attorney-in-fact: CATALINA ORIANA LATORRE VALDEVENITO, RUT [\*\*\*]

● Attorney-in-fact: CHIEN-FU CHEN CHEN, RUT [\*\*\*]

● Domicile: Las Condes, Avenida Apoquindo 4615

● Date: 04-01-2024

● Signed by guarantor and co-debtor.

**2. Joint and several guarantor and co-debtor:** CHIEN-FU CHEN CHEN, RUT [\*\*\*]

● Domicile: Las Condes, Avenida Apoquindo 4615

● Date: 04-01-2024

● Signed by guarantor and co-debtor.

**IV. PROMISSORY NOTE COMPLEMENT - PREPAYMENT COMMISSIONCLAUSES (Clau A - Gral.)**

This page is part of Promissory Note No. (left blank), dated April 1, 2024, signed in favor of Banco del Estado de Chile for the amount of $2,000,000,000 (TWO BILLION CHILEAN PESOS).

In the absence of agreement between creditor and Debtor, I/we may anticipate total or partial payment of the credit, covering principal in an amount no less than 10% of the outstanding balance, paying interest accrued and unpaid on the outstanding balance at the prepayment date and additionally a commission equal to the interest stipulated in the executive title and calculated on the prepaid principal, for the period from the prepayment date until the agreed maturity date or the maturity of the last installment, with a time limit not exceeding 12 months of interest, in the case of operations with maturity less than one year from the prepayment date. For operations with maturity greater than one year from the prepayment date, the commission shall always be freely agreed between subscriber and bank and shall at minimum consider the positive difference between the present value of cash flows discounted at the cost of funds rate for the residual duration of the credit, and the original cost of funds rate of the credit.

The principal prepayment must be reported at least two banking business days in advance of the planned prepayment date.

● **Debtor (Suscriptor):** TICKETPLUS SPA, RUT [\*\*\*]

● **Attorney-in-fact:** CHIEN-FU CHEN CHEN, RUT [\*\*\*]

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number for individuals and legal entities.

● **"Comuna":** Chilean administrative subdivision, comparable to a municipality or district.

● **"Pagaré":** Chilean promissory note. The standard legal instrument for commercial bank credit in Chile; functionally equivalent to a US "loan agreement" but in a single negotiable instrument format.

● **"Reajustable / No Reajustable":** Indexed (typically to UF, the inflation-indexed Chilean unit) or non-indexed.

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit, daily-adjusted by the Central Bank of Chile.

● **"Aval / Fiador Solidario":** Joint and several guarantor under Chilean Civil Code. The "aval" is a specific guarantee on a negotiable instrument (Article 46 et seq., Law 18.092 on Bills of Exchange and Promissory Notes); "fiador solidario" is a guarantor under the general civil regime.

● **"Codeudor Solidario":** Joint and several co-debtor under Articles 1511 et seq. of the Chilean Civil Code; differs from a guarantor in that it is treated as a primary debtor.

● **"Apoderado":** Attorney-in-fact / authorized signatory acting under a power of attorney.

● **"Suscriptor":** Subscriber / signer of the promissory note (the primary debtor in this context).

● **"Protesto":** Formal certification of default on a negotiable instrument, regulated by Law 18.092 and the Code of Commerce. Releasing the holder from "protesto" waives the formal default-certification step before judicial enforcement.

● **"Indivisibilidad":** Principle under Articles 1526 No. 4 and 1528 of the Chilean Civil Code, by which an obligation may be enforced in full against any of the debtor's successors.

● **"FOGAES Apoyo a la Construcción":** State guarantee fund for construction-sector credits. ("Fondo de Garantía para la Construcción"), administered by Banco Estado.

● **"PAE" (Préstamo Asociado a Exportaciones):** Export-linked loan; preferential bank credit subject to export performance verification.

● **"Impuesto de Timbres y Estampillas":** Chilean Stamp Tax on documents evidencing money-credit operations (Decree-Law 3,475 of 1980).

● **"Servicio de Impuestos Internos" (SII):** Chilean Internal Revenue Service.

● **"Cuenta corriente":** Checking account.

**PROMISSORY NOTE - INDEXED / NON-INDEXED ("Reajustable / NoReajustable") - EQUAL INSTALLMENTS - FIXED RATE**

**Place and date:** Santiago, June 11, 2025 **Payment office:** Banco del Estado de Chile, Santiago Principal branch

I/We owe and shall pay to the order of Banco del Estado de Chile, at its Santiago Principal Office, the amount of $3,000,000,000 (THREE BILLION CHILEAN PESOS), as principal received as a loan, plus interest at 8% annual rate, beginning on June 11, 2025.

If principal is expressed in "Unidades de Fomento" (UF), payment shall be made in pesos at the equivalent value.

**Form of payment**

Principal and interest shall be paid in 61 equal monthly successive installments, the first one maturing on October 10, 2025, and the last one on the 11th day of the corresponding month. Each installment is $61,406,082, except the last one which is $61,406,080.

**Default interest and acceleration**

In case of late payment of one or more installments, Borrower shall pay the maximum agreed interest rate legally allowed, from default until effective payment, and the Bank may declare the entire debt due and payable, pursuing judicial collection. In case of agreed extension or renewal upon default, the maximum interest rate legally allowed at the date of such new agreement shall apply.

**Indivisibility**

This obligation is contracted with the character of "indivisible" and may be enforced in full against any of my successors. I release the holder of this instrument from the obligation of "protesto".

**Domicile**

I establish domicile in the District where the payment Office is located, without prejudice to the holder's right to elect any other domicile listed herein or where the Bank has an Office.

**Signatures**

● **Debtor (Suscriptor):** TICKETPLUS SPA, RUT [\*\*\*]

● **Attorney-in-fact (Apoderado):** CHIEN-FU CHEN CHEN, RUT [\*\*\*]

● **Domicile:** Las Condes, Avenida Alonso de Cordova 5320

**JOINT AND SEVERAL GUARANTEE AND CO-DEBTORSHIP ("Aval(es) y Codeudoría(s) Solidaria(s)")**

We constitute ourselves separately as joint and several guarantors and co-debtors of this Promissory Note and accept, without need of new signatures, the extensions, renewals and modifications agreed between the principal debtor and the creditor Bank. We contract this obligation with the character of "indivisible" and it may be enforced in full against any of our successors. We release the holder from the obligation of "protesto". We establish domicile in the District where the payment Office is located.

**1. Joint and several guarantor and co-debtor:** CHIEN-FU CHEN CHEN, RUT [\*\*\*]

● Domicile: Las Condes, Avenida Alonso de Cordova 5320

● Date: 06-11-2025

● Signed by guarantor and co-debtor.

**2. Joint and several guarantor and co-debtor:** YETHRO DINAMARCA SANTELICES, RUT [\*\*\*]

● Attorneys-in-fact: CHIEN-FU CHEN CHEN (RUT [\*\*\*]); CATALINA ORIANA LATORREVALDEVENITO (RUT [\*\*\*])

● Domicile: [\*\*\*]

● Date: 06-11-2025

● Signed by guarantor and co-debtor.

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Comuna":** Chilean administrative subdivision (district).

● **"Pagaré":** Chilean promissory note; standard instrument for Chilean commercial bank credit.

● **"Reajustable / No Reajustable":** Indexed or non-indexed (typically to UF).

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit.

● **"Aval / Fiador Solidario":** Joint and several guarantor (negotiable-instrument and civil-code regimes).

● **"Codeudor Solidario":** Joint and several co-debtor (Chilean Civil Code Articles 1511 et seq.).

● **"Apoderado":** Attorney-in-fact.

● **"Suscriptor":** Subscriber / signer of the promissory note.

● **"Protesto":** Formal default certification on negotiable instruments (Law 18.092).

● **"Indivisibilidad":** Indivisibility principle (Civil Code Articles 1526 No. 4 and 1528).

## Exhibit 10.9

**Exhibit 10.9** 

**BANCO ITAÚ**

**LOAN AGREEMENTS**

English translations prepared by Ticketplus Ltd. Original document in Spanish prevails. Untranslatable Chilean legal terms are kept in Spanish in quotation marks and are listed at the end of each document.

**PROMISSORY NOTE**

**(National Currency, Non-Indexed, Fixed Rate)**

I/We unconditionally owe and shall pay to the order of BANCO ITAÚ CHILE (hereinafter the "Bank"), at its office located at Av. Presidente Riesco No. 5537, district of Las Condes, the amount of $1,000,000,000 (one billion pesos) which I/we have received as a loan under the following conditions, which I/we accept and shall comply with:

**Interest:** As of the date of this Promissory Note, the principal owed shall accrue interest at the rate of 0.7042% monthly.

**Form of payment of principal and interest:** Principal and interest shall be paid in 48 successive monthly installments, comprised of principal and interest, maturing on the 10th day of each respective month, with the first installment maturing on July 10, 2025 and the last one on June 11, 2029.

**Calculation of interest:** Interest shall be paid and calculated on the total outstanding principal and over the days actually elapsed. Monthly interest rates refer to 30-day months. Annual interest rates refer to 360-day years.

**Non-business days, payment extension:** Any payment date for principal and/or interest falling on a non-banking business day shall be extended to the immediately following banking business day, with the relevant payment to additionally include interest for the days of such extension.

**Default interest and/or acceleration:** In case of default or simple delay in payment of all or part of principal and/or interest, the Bank may capitalize interest accrued through the maturity date, in accordance with Article 9 of Law No. 18,010. The new principal so formed shall accrue, for the entire period of default, the maximum agreed interest rate legally allowed for this type of money credit transaction, applied on the outstanding balance from default until effective payment date. Equal interest shall accrue in case of acceleration.

**Acceleration upon default:** In case of default or simple delay in payment of all or part of principal and/or interest, the Bank shall have the power to declare the total debt due and payable, in which case it shall be considered with elapsed term for all legal purposes.

The Bank may also declare this Promissory Note prepayable in advance, in which case it shall be considered with elapsed term for all legal and conventional purposes, if the subscriber: (i) ceases payment on any other obligation contracted in favor of the Bank or any other creditor; (ii) initiates any concursal proceedings of liquidation or modification of reorganization agreement; (iii) ceases payment on an obligation evidenced by an executive title; (iv) has against him two or more outstanding executive titles arising from various obligations, with at least two enforcements initiated or other cause for a creditor to request forced liquidation, and sufficient assets are not provided to cover the obligation owed and its costs within 4 days following the relevant requirements; or (v) any proceedings are initiated by or against the debtor seeking dissolution, liquidation, reorganization, concursal proceedings, adjustment or arrangement of payments or of its assets, in accordance with any law on liquidation, insolvency or reorganization of debtors, that remain in force and not lifted within a period of 30 calendar days from initiation; or if a liquidator, supervisor or similar official is requested to be appointed regarding the debtor, or if the debtor adopts any similar measure to permit any of the above acts, provided that, in case of a proceeding against him, it is not lifted within 30 days following its initiation or notification. The above shall not apply to the financial concursal protection periods foreseen in Law No. 20,720.

**Prepayment:** In the event of prepayment, if the principal declared owed under this instrument is equal to or less than the equivalent in national currency to UF 5,000, I/we are obligated to pay the principal anticipated plus the agreed interest calculated through the effective payment date, and a prepayment commission amounting to one month of interest calculated on the principal prepaid, in case of a non-indexed obligation, or one and a half months of interest calculated on the principal prepaid, in case of an indexed obligation. If the principal declared owed exceeds the equivalent in national currency of UF 5,000, I/we are obligated to pay all interest stipulated through the agreed maturity, in accordance with Law No. 18,010.

**Checking Account:** The Bank, in its capacity as creditor, is irrevocably authorized to debit, upon maturity, from the checking accounts maintained by the debtor at the Bank, the principal and interest amounts referred to in this document.

**Indivisibility:** All obligations arising from this Promissory Note shall be considered "indivisible" for the subscriber, his heirs and/or successors, for all legal purposes and especially those contemplated in Articles 1526 No. 4 and 1528 of the Civil Code.

**"Protesto":** Without obligation of "protesto". I/we release the Bank from the obligation of "protesto", but if the Bank elects to perform such procedure, it may do so, at its discretion, in banking, notarial form or by the corresponding public official. In any case, in the event of "protesto" I/we are obligated to pay the resulting expenses and taxes.

**Taxes, Rights and Expenses:** Any tax, right, expense and increase in costs which may arise for the beneficiary of this Promissory Note in connection with its subscription, modifications, extensions, renewals, payments, "protesto" or other circumstances related thereto, shall be borne exclusively by the subscriber. Likewise, any increase in costs which may arise for the holder of this instrument in connection with technical reserves, deposit reserves and/or financial costs of the funds with which the obligation contained in this instrument is financed, shall be borne exclusively by the subscriber.

**Domicile and Jurisdiction:** For all legal purposes arising from this Promissory Note, the debtor or subscriber establishes special domicile in the district indicated in the heading of this Promissory Note and submits to the jurisdiction of its Courts of Justice, which domicile shall also be a valid place for "protesto" proceedings if performed.

**Information to Public and Private Data Registries:** In case of payment or extinction of the obligation represented in this document, if it had been reported as unpaid, or if this document had been "protesto", I opt to directly require public and private data banks to modify the information contained therein, releasing the Bank from compliance with such obligation.

The Stamp Tax ("Impuesto de Timbres y Estampillas") on this document is paid through monthly payments at the Treasury, pursuant to Articles 15 No. 3 and 17 No. 1 of Decree Law 3,475.

**Place and date:** Santiago, June 10, 2025

**Subscriber (Debtor)**

● **Corporate name:** TICKETPLUS SPA

● **Domicile:** ALONSO DE CORDOBA 5320, OF. 1603

● **City / District:** SANTIAGO / LAS CONDES

● **RUT:** [\*\*\*]

● **Checking account No.:** [\*\*\*]

● **Legal representative:** CHIEN-FU CHEN CHEN, ID No. [\*\*\*]

**JOINT GUARANTEE ("Por Aval")**

Each of the undersigned constitutes itself expressly as joint and several guarantor, surety and co-debtor of all and each obligation of the subscriber or debtor previously identified, contained in this instrument, in favor of the Bank or its successors, for all the time until the effective and complete payment of this document, and expressly declares that:

a) Accepts, from now on, the terms and extensions of term, renewals and/or modifications of interest rate that may be agreed between debtor and creditor, the joint obligation remaining in force, regardless of any agreement on the amount and form of payment of the obligation, whether they alter or not the currency in which the obligation is expressed;

b) Releases the Bank from the obligation of "protesto" of this document;

c) That my/our liability and that of my/our heirs and/or successors shall have the character of "indivisible" for all legal purposes and especially for the provisions of Articles 1526 No. 4 and 1528of the Civil Code;

d) That my/our liability shall not be affected, released or diminished in any way, by other guarantees that may have been constituted, are constituted on this date, or in the future are constituted to secure the same obligation, and which are released in whole or in part in the future, and my/our joint liability shall remain in full force for the total of the guaranteed obligation, even when another person assumes the guaranteed obligation in any form, and even though such third person assumes the assets and liabilities of the debtor or introduces modifications to the debtor entity.

The Bank and its successors are authorized to modify, substitute, release or waive, in whole or in part, the guarantees currently constituted, that may be constituted on this date, or that may be constituted in the future to secure the obligations referred to in this instrument, none of which shall be considered by the persons constituting themselves as joint and several guarantors, sureties and co-debtors, of this Promissory Note as an exception to the obligation contained in it;

e) For all legal purposes of this guarantee, each guarantor, surety and joint co-debtor establishes special domicile in the district indicated in the heading of this Promissory Note and submits to the jurisdiction of its Ordinary Courts of Justice.

**Place and date:** Santiago, June 10, 2025

**Joint guarantor (1)**

● **Name:** CHIEN-FU CHEN CHEN

● **Domicile:** [\*\*\*]

● **ID No.:** [\*\*\*]

**Joint guarantor (2)**

● **Name:** YETHRO DINAMARCA SANTELICES

● **Domicile:** [\*\*\*]

● **ID No.:** [\*\*\*]

● **Legal representatives:** CHIEN-FU CHEN CHEN(ID [\*\*\*]); ALEJANDRA FRANCISCA BONÉ EUGENÍN (ID [\*\*\*])

**ADDITIONAL DOCUMENT: TIME DEPOSIT ("DAP") PLEDGED AS COLLATERAL**

**Captation Promissory Note - Indefinite Renewable**

● **Investment No.:** [\*\*\*]

● **Series / Code:** 039 - 0320

● **Currency:** Chilean peso

● **Capital amount:** $500,000,000 (Five hundred million pesos, M/L)

● **Issue date:** June 10, 2025

● **Maturity date:** July 10, 2025 (renewable indefinitely)

● **Interest rate:** 0.42000000% monthly

● **Term:** 30 days

● **Issued by:** Banco Itaú in favor of TICKETPLUS SPA, Banca Privada Parque Araucano branch, Av. Presidente Riesco

● **Endorsement:** "Endosado en Garantía a favor de: BANCO ITAÚ CHILE" (Endorsed in guarantee to: BANCO ITAÚ CHILE)

● **Signed by:** Banco Itaú Chile officials, including operations chief

**DAP Guarantee Constitution Form**

● **Process type:** Constitution

● **Internal control code:** [\*\*\*]

● **Process date:** 06-10-2025

● **Debtor:** TICKETPLUS SPA,RUT [\*\*\*]

● **DAP owner:** TICKETPLUS SPA

● **DAP No.:** [\*\*\*]

● **Guarantee class:** Other Guarantees

● **Preference grade:** First grade and other lower grade

● **Character:** General (covers any obligation, present or future)

● **Limit:** Limited

● **Sharing:** Not shared

● **Limit amount:** $500,000,000

● **Approved by:** Francisco J. Hernández S. (Executive GGEE Institutions); Claudia Quezada D. (Manager Banca Grandes Empresas, Itaú)

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Pagaré":** Chilean promissory note; standard legal instrument for commercial bank credit.

● **"Aval / Fiador Solidario":** Joint and several guarantor (negotiable-instrument and civil-code regimes).

● **"Codeudor Solidario":** Joint and several co-debtor under Chilean Civil Code Articles 1511 et seq.

● **"Apoderado":** Attorney-in-fact / authorized signatory.

● **"Suscriptor":** Subscriber / signer of the promissory note.

● **"Protesto":** Formal default certification on negotiable instruments (Law 18.092). Releasing the holder from "protesto" waives the formal default-certification step before judicial enforcement.

● **"Indivisibilidad":** Indivisibility principle under Chilean Civil Code Articles 1526 No. 4 and 1528.

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit.

● **"DAP" (Depósito a Plazo):** Time deposit, in this case pledged as collateral via "endoso en garantía" (collateral endorsement).

● **"Endoso en Garantía":** Collateral endorsement under Law 18.092 Article 21; transfers the negotiable instrument to the creditor as security without transferring ownership.

● **"Impuesto de Timbres y Estampillas":** Chilean Stamp Tax (Decree-Law 3,475 of 1980).

● **"Comuna":** Chilean administrative subdivision (district).

● **Law No. 18,010:** Chilean law governing money credit transactions.

● **Law No. 18,092:** Chilean law on Bills of Exchange and Promissory Notes.

● **Law No. 20,720:** Chilean Bankruptcy and Reorganization Law.

## Exhibit 10.10

**Exhibit 10.10**

**BANCO SANTANDER**

**LOAN AGREEMENTS**

English translations prepared by Ticketplus Ltd. Original document in Spanish prevails. Untranslatable Chilean legal terms are kept in Spanish in quotation marks and are listed at the end of each document.

**PROMISSORY NOTE**

**Indexed National Currency Credit, Fixed Installments**

I/We owe and shall pay to the order of Banco Santander-Chile, at its office located at Cerro El Plomo 5630, the amount equivalent in pesos of UF 8,400 (eight thousand four hundred Unidades de Fomento), which I/we have received as a money loan, which I/we are obligated to pay together with the corresponding interest, in 83 successive equal monthly installments of UF (handwritten: amount per installment), each maturing on the 16th of each month, beginning on September 16, 2020, and a final installment of UF (blank) maturing on (blank).

The debtor authorizes the Bank to capitalize accrued and unpaid interest during the grace period and corresponding taxes. "Unidad de Fomento" (UF) is understood as the unit of indexation for money credit operations in national currency authorized by the Central Bank of Chile in ChapterII.B.3 of the Compendium of Financial Standards, in accordance with Article 35 No. 9 of Law No.18,840 (Constitutional Organic Law of the Central Bank of Chile), or the indexation system that in the future replaces it. Amounts owed under this Promissory Note shall be determined and paid in current Chilean currency, at the value of the UF on the day of effective payment, except if payment is made after the stipulated date and the value of the UF was higher on such date, in which case such higher value shall be used.

**INTEREST** The principal owed shall accrue, from this date through its maturity, an annual interest rate of 4.69% expired, calculated based on a 360-day year and the number of days actually elapsed, without prejudice to interest in case of default, simple delay or extension.

**DEFAULT INTEREST** In case of default or simple delay in payment of any installment into which this obligation is divided, the principal owed shall accrue, from the day it should have been paid until effective payment, default interest calculated at the maximum agreed legal rate in force on the date of default or simple delay.

**EARLY ACCELERATION ("Exigibilidad Anticipada")** The Bank may declare due and payable the total principal owed or the balance to which it has been reduced, plus accrued interest, considering this obligation as having elapsed term, in case of default or simple delay in payment of any installment, whether of principal and/or interest, consecutive or not, without prejudice to other creditor rights. If the obligation evidenced by this Promissory Note is equal to or less than the equivalent of 200Unidades de Fomento, the Bank may declare the total debt due and payable, in case of default or simple delay equal to or greater than 60 calendar days. The Bank may also declare this Promissory Note prepayable in advance, at the Bank's exclusive discretion, if the obligated parties become insolvent. Insolvency exists if the debtor ceases payment on any other obligation contracted with the same Banco Santander Chile or with third parties; if creditors request bankruptcy or formulate proposals for extrajudicial or judicial agreements; if seizures, retentions, prohibitions to act or contract are obtained against the debtor's assets, and such measures are not lifted within 60 days; if the appointment of receivers occurs; if any of the debtor's assets are attached, or if any other event evidences insolvency; or if the subscriber provides false or incorrect information for the granting of the loan. The Bank shall be irrevocably authorized to present this Promissory Note for collection on the date that any of the events giving the right to demand immediate payment has occurred, and to proceed with its "protesto" if necessary.

**EXTENSION OF TERM FOR NON-BUSINESS DAYS** Any payment date for principal and/or interest falling on a non-banking business day shall be extended to the immediately following banking business day, with the relevant payment to additionally include interest for the days of such extension.

**DEBITS IN CHECKING ACCOUNTS AND OTHERS** Banco Santander-Chile is irrevocably authorized, without this implying obligation, to debit checking accounts and/or savings accounts and/or any other credit balance held at the Bank by the subscribers and any of those obligated to payment, to apply payment of all amounts becoming payable under this Promissory Note.

**INDIVISIBILITY AND JOINT AND SEVERAL LIABILITY** All obligations arising from this Promissory Note shall be joint and several for the subscribers, guarantors and others obligated to payment, and shall be indivisible for their heirs and/or successors, in accordance with Articles 1526 No. 4 and1528 of the Civil Code.

**TAXATION AND EXPENSES** Taxes, notarial rights and other expenses arising from or affecting this Promissory Note or the credit it evidences or its interest, its modification, extension, payment, judicial or extrajudicial collection or other circumstance arising from or related thereto, shall be borne exclusively by the subscriber.

**PREPAYMENTS** If the principal under this Promissory Note exceeds the equivalent of UF 5,000, any prepayment, total or partial, of amounts owed under this Promissory Note, shall be freely agreed between the subscriber and Banco Santander-Chile or its successors. In the absence of agreement, the subscriber may in any case prepay, total or partially, paying the principal anticipated plus interest stipulated in this instrument, accrued and unpaid through the prepayment date, calculated on the outstanding balance, and in addition the interest stipulated in this instrument, calculated on the principal prepaid from the prepayment date through the agreed maturity, or through the maturity of the last installment of principal prepaid in whole or in part, as the case may be. If the principal under this Promissory Note does not exceed the equivalent of UF 5,000, in case of prepayment, and in addition to the interest calculated through the prepayment date, the subscriber must pay the maximum prepayment commission permitted by Article 10 of Law No. 18,010 to be agreed between the parties. No partial prepayment may be less than 20% of the obligation balance, unless the creditor consents at the time of prepayment.

**INCREASE IN COST OF FUNDS** Given that the interest rate agreed in this Promissory Note is based on the cost the Bank, as financial intermediary, must in turn pay for the funds with which it finances this placement, the subscriber(s) declare(s) and accept(s) that such rate shall increase in the same amount or percentage in which the cost of funds eventually varies, whether due to taxes (except income taxes), increase in deposit reserves, technical reserves or any other legal or regulatory requirement, in their amount or in the form of calculating such requirements, and which definitively results in a higher cost of funds for the Bank.

**"PROTESTO"** The subscriber(s) and/or guarantor(s) of this Promissory Note hereby release Banco Santander-Chile from the obligation of "protesto" of the same, but if the Bank elects to perform such procedure, it may do so, at its discretion, in banking, notarial form or by the corresponding public official. In any case, in the event of "protesto" the resulting expenses and taxes shall be borne by the subscriber(s).

**MANDATE FOR EXTENSIONS AND RENEWALS** Upon maturity of one or more installments, or any of their extensions and/or renewals, the Bank may extend and/or renew them, with express authority, and in such cases shall determine the interest rate to govern during the new period, which may not exceed the maximum legally allowed. The constancy left by the Bank in the Promissory Note or attached sheet with the new maturity date(s) shall suffice for the extension and/or renewal to take full effect.

**MANDATE** By this instrument, the subscriber(s) grant(s) to the guarantor(s) and joint co-debtor(s)identified below in this Promissory Note, a special irrevocable mandate, with all the powers of both paragraphs of Article Seventh of the Code of Civil Procedure, which are understood expressly reproduced one by one and known, in such terms that, notification of demand and payment requirement made to any of the guarantor(s) and joint co-debtor(s) shall imply having also been made to the subscriber(s). Equal mandate and with equal consequences are granted between the subscribers of this Promissory Note.

**DOMICILE AND JURISDICTION** For all purposes of this Promissory Note, the subscriber(s), guarantor(s) and others obligated to payment establish special domicile in the district of (blank), without prejudice to that of their domicile or residence, at the creditor's election, and submit to the jurisdiction of its Ordinary Courts of Justice.

**Place and date:** Santiago, August 13, 2020

**Subscriber 1 (Debtor)**

● **Corporate name:** TICKETPLUS SPA

● **RUT:** [\*\*\*]

● **Domicile:** ISIDORA GOYENECHEA 3000, DEPTO 1401, LAS CONDES

● **Legal representative 1:** YETHRO DINAMARCA SANTELICES, ID [\*\*\*]

● **Legal representative 2:** JOAQUIN JADUE MUSALEM, ID [\*\*\*]

(Signed by both legal representatives. Bank officer: Carlos Vicencio Farfán, Executive Banca Empresas, Banco Santander-Chile.)

**JOINT GUARANTEES ("Avales")**

We constitute ourselves as guarantors without limitation and as sureties and joint and several co-debtors of this Promissory Note. Likewise, we accept from now on the extensions, renewals and/or modifications which may be agreed between the creditor and debtor(s), my/our joint and several liability remaining in force in the character of "indivisible", not affected in any form by other guarantees that may be constituted or in the future are constituted to secure the same obligations object of this guarantee, suretyship and joint co-debtorship, maintaining full force my/our joint liability even when other persons assume the guaranteed obligations in any form, and even though such persons assume the assets and liabilities of the debtor(s) and introduce modifications to the debtor entity(ies). Banco Santander-Chile and its successors, as well as future holders of this instrument, are authorized to modify, substitute, release or waive, in whole or in part, the guarantees currently constituted or that in the future are constituted to secure the obligations referred to in this Promissory Note, this obligation may be enforced against any of my/our heirs and/or successors, in accordance with Articles 1526 No. 4 and 1528 of the Civil Code.

**MANDATE** By this instrument, the guarantor(s) grant(s) to the subscriber(s) identified above in this Promissory Note, a special irrevocable mandate, with all the powers of both paragraphs of Article Seventh of the Code of Civil Procedure, in such terms that notification of demand and payment requirement made to any of the guarantor(s), surety(ies) and joint co-debtor(s), shall imply having also been made to the subscriber(s). Equal mandate and with equal consequences are granted among themselves, the subscribers of this Promissory Note.

**Aval I**

**Name:** YETHRO DINAMARCA SANTELICES

**RUT:** [\*\*\*]

**Domicile: [\*\*\*]**

**Aval II**

**Name:** CHIEN-FU CHEN CHEN

**RUT:** [\*\*\*]

**Domicile: [\*\*\*]**

**Aval III**

**Name:** JOAQUIN JADUE MUSALEM

**RUT:** [\*\*\*]

**Domicile:** [\*\*\*]

**NOTARIAL AUTHORIZATION**

I AUTHORIZE: THE SIGNATURE(S) OF YETHRO DINAMARCA SANTELICES, ID No. [\*\*\*] AND OF JOAQUIN JADUE MUSALEM, ID No. [\*\*\*], REPRESENTING "TICKETPLUS SPA" RUT No. [\*\*\*], AS SUBSCRIBER; OF YETHRO DINAMARCA SANTELICES, ID No. [\*\*\*], OF CHIEN FU CHEN CHEN, ID No. [\*\*\*] AND OF JOAQUIN JADUEMUSALEM, ID No. [\*\*\*], AS JOINT GUARANTORS, SURETIES AND JOINT CO-DEBTORS.SANTIAGO, AUGUST 17, 2020. I ATTEST.

**Notary:** NANCY DE LA FUENTE, Notary Public, 2nd Notary Office of Santiago.

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Pagaré":** Chilean promissory note.

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit, daily-adjusted by the Central Bank.

● **"Reajustable":** Indexed (typically to UF).

● **"Aval / Fiador Solidario":** Joint and several guarantor.

● **"Codeudor Solidario":** Joint and several co-debtor.

● **"Apoderado":** Attorney-in-fact.

● **"Suscriptor":** Subscriber / signer of the promissory note.

● **"Protesto":** Formal default certification on negotiable instruments.

● **"Indivisibilidad":** Indivisibility principle under Chilean Civil Code Articles 1526 No. 4 and 1528.

● **"Exigibilidad Anticipada":** Early enforcement / acceleration of the debt.

● **"Comuna":** Chilean administrative subdivision (district).

● **Law No. 18,010:** Chilean law governing money credit transactions.

● **Law No. 18,092:** Chilean law on Bills of Exchange and Promissory Notes.

● **Law No. 18,840:** Constitutional Organic Law of the Central Bank of Chile.

**PROMISSORY NOTE**

**Non-Indexed National Currency**

**FOGAPE REACTIVACIÓN**

I/We unconditionally owe and shall pay to the order of Banco Santander Chile (hereinafter the "Bank"), at its office located at Bandera No. 140, district of Santiago Centro, the amount of $200,001,500 (Two hundred million one thousand five hundred Chilean pesos) which I/we have received as a loan under the following conditions, which I/we accept and shall comply with.

I/We declare that the credit evidenced by this Promissory Note is subject to the guarantee of the "Fondo de Garantía para Pequeños Empresarios" (Small Business Guarantee Fund) and to the rules governing such Fund, which I/we acknowledge and accept. Additionally, I/we are obligated to allocate the amounts evidenced by this Promissory Note to working capital and to facilitate the Bank's investment control.

**Form of payment of principal and interest:** I/We are obligated to pay the principal owed together with the corresponding interest, in 80 successive equal monthly installments of $2,929,847 (Two million nine hundred twenty-nine thousand eight hundred forty-seven Chilean pesos) each, maturing on the 23rd of each month, beginning on July 23, 2021 through February 23, 2028, and a final installment of $2,929,812 (Two million nine hundred twenty-nine thousand eight hundred twelve Chilean pesos) maturing on March 23, 2028.

**Interest:** As of the date of this Promissory Note, the principal owed shall accrue interest at the rate of 0.42% monthly.

**Calculation of interest:** Monthly interest rates refer to 30-day months. Annual interest rate refers to360-day years. Interest shall be paid and calculated on the total principal owed and over the days actually elapsed between each interest payment date.

**Percentage subject to guarantee:** The credit evidenced by this Promissory Note is secured with the guarantee of the "Fondo de Garantía para Pequeños y Medianos Empresarios" "FOGAPE REACTIVACIÓN". The guarantee provided by FOGAPE to secure the credit evidenced by this Promissory Note corresponds to 80.00% of the principal owed.

**Term of the guarantee:** The guarantee provided by FOGAPE shall have a term of 81 months.

**Non-business days, payment extension:** Any payment date for principal and/or interest falling on a non-banking business day shall be extended to the immediately following banking business day, with the relevant payment to additionally include interest for the days of such extension.

**Default interest:** In case of default or simple delay, the debtor agrees to pay default interest from the day following the occurrence of such event until total payment, at a rate equal to the maximum agreed allowed for this type of money credit transaction in force at the time of default or simple delay.

**Acceleration upon default:** Failure to make timely payment of any installment shall enable the creditor, after 15 calendar days have elapsed since default or simple delay, to declare the total balance owed due and payable as having elapsed term for all legal purposes, capitalizing interest accrued at such date, unless the principal under this Promissory Note is equal to or less than the equivalent of 200 Unidades de Fomento, in which case the creditor may exercise such power after 60 calendar days have elapsed since default or simple delay. The lapse of term has been established for the exclusive benefit of the creditor.

**Checking Account:** The Bank, in its capacity as creditor of this obligation, is irrevocably authorized to debit, upon maturity, from the checking accounts maintained by the debtor at the Bank, the principal and interest amounts referred to in this document.

**Anticipated payments:** The principal owed may be paid in advance, in whole or in part, subject to compliance with the following requirements: **One:** Each partial anticipated payment of principal owed shall be at least an amount equal to or greater than 25% of the outstanding principal. **Two:** The debtor shall pay the interest accrued through the anticipated payment date. **Three:** In case of total or partial anticipated payment of principal owed, the debtor shall not be subject to payment of prepayment commission.

**Indivisibility:** All obligations arising from this Promissory Note shall be considered "indivisible" for the subscriber, his heirs and/or successors, for all legal purposes and especially those contemplated in Articles 1526 No. 4 and 1528 of the Civil Code.

**"Protesto":** Without obligation of "protesto". I/we release the Bank from the obligation of "protesto", but if the Bank elects to perform such procedure, it may do so, at its discretion, in banking, notarial form or by the corresponding public official. In any case, in the event of "protesto" I/we are obligated to pay the resulting expenses and taxes.

**Taxes, Rights and Expenses:** Any tax, right, expense and increase in costs which may arise for the beneficiary of this Promissory Note in connection with its subscription, modifications, extensions, renewals, payments, "protesto" or other circumstances related thereto, shall be borne exclusively by the subscriber.

**Domicile and Jurisdiction:** For all purposes of this Promissory Note, the subscriber(s), guarantor(s)and others obligated to payment establish special domicile in the district of LAS CONDES, without prejudice to that of their domicile or residence, at the creditor's election, and submit to the jurisdiction of its Ordinary Courts of Justice.

**Information to Public and Private Data Registries:** In case of payment or extinction of the obligation represented in this document, if it had been reported as unpaid or "protested", I opt to directly require public and private data banks to modify the information contained therein, releasing the Bank from compliance with such obligation.

**Use of funds:** The funds from financings with FOGAPE guarantees may only be used exclusively for investments, expenses and refinancings subject to the restrictions of Article 6 of the Regulation. This includes acquisition of fixed assets and working capital needs, such as payment of salaries and social security obligations, leases, leasing fees, merchandise and supplies, including those documented through letters of credit for import or export, and accounts payable pending settlement, tax obligations, guarantee bonds, insurance expenses, expenses associated with the granting of Reactivación Guarantees, and any other expense indispensable for its operation, among others. The debtor expressly declares it shall not use the funds for payment of dividends, withdrawal of profits, loans to related persons up to the second degree of consanguinity in case of natural persons or under Article 100 of Law No. 18,045 (Securities Market Law), in case of legal entities, or any other form of capital withdrawal by him or by the company's owners.

**STAMP TAX ("Impuesto de Timbres y Estampillas")**

In accordance with Article 3 of Law 21,307 and Decree-Law No. 3,475 of 1980, this Promissory Note **is exempt** from payment of Stamp Tax.

**Place and date:** Santiago, June 23, 2021.

**Subscriber (Debtor)**

● **Corporate name:** TICKETPLUS SPA

● **RUT: [\*\*\*]** 

● **Domicile:** EVARISTO LILLO 48, LAS CONDES

● **Attorney-in-fact 1:** JOAQUIN NICOLAS JADUE MUSALEM, ID [\*\*\*]

● **Attorney-in-fact 2:** YETHRO DINAMARCA SANTELICES, ID [\*\*\*]

**Bank officer:** ROBERTO GONZÁLEZ SOTO, ID [\*\*\*], Specialist II, Banco Santander-Chile.

**JOINT GUARANTEES ("Aval(es)")**

**Aval 1**

**Name:** JOAQUIN NICOLAS JADUE MUSALEM

**RUT: [\*\*\*]**

**Domicile:** [\*\*\*]

**Aval 2**

**Name:** YETHRO DINAMARCA SANTELICES

**RUT:** [\*\*\*]

**Domicile:** [\*\*\*]

**NOTARIAL AUTHORIZATION**

I authorize the signatures of those subscribing in representation of the debtor, "avales", spouses of "avales", and their respective representatives as applicable, whose physical or electronic signatures are stated in the contract or closing of credit conditions giving rise to this Promissory Note, and whose identification cards I had in sight; likewise I authorize the signatures of the attorneys-in-fact of Banco Santander Chile.

**Notary date:** SANTIAGO, JULY 26, 2021. **Notary:** ROBERTO PUGA PINO, Substitute Notary, Second Notary Office of Santiago.

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Pagaré":** Chilean promissory note.

● **"Aval / Fiador Solidario":** Joint and several guarantor.

● **"Codeudor Solidario":** Joint and several co-debtor.

● **"Apoderado":** Attorney-in-fact.

● **"Suscriptor":** Subscriber / signer of the promissory note.

● **"Protesto":** Formal default certification on negotiable instruments.

● **"Indivisibilidad":** Indivisibility principle (Civil Code Articles 1526 No. 4 and 1528).

● **"Comuna":** Chilean administrative subdivision (district).

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit.

● **"Impuesto de Timbres y Estampillas":** Chilean Stamp Tax (Decree-Law 3,475 of 1980); this credit is exempt under Law 21,307.

● **"FOGAPE" (Fondo de Garantía para Pequeños y Medianos Empresarios):** Chilean state-backed Small and Medium Business Guarantee Fund. "FOGAPE Reactivación" was the special pandemic-recovery line opened in 2021 covering up to 80% of principal.

● **Law No. 18,010:** Chilean law governing money credit transactions.

● **Law No. 18,045:** Chilean Securities Market Law (used here to define "related persons").

● **Law No. 21,307:** Chilean law granting Stamp Tax exemption to credits under FOGAPE Reactivación.

**PROMISSORY NOTE**

**Non-Indexed National Currency Credit**

I/We owe and shall pay to the order of Banco Santander Chile (the "Bank"), at its office Casa Matriz located at Bandera No. 140, the amount of $5,500,000,000 (Five billion five hundred million Chilean pesos) which I/we have received as a money loan, which I/we are obligated to pay together with the corresponding interest, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Single installment of $(blank) maturing on (blank).

&nbsp;&nbsp;&nbsp;&nbsp;2. Two installments: first $(blank), second $(blank), maturities (blank).

&nbsp;&nbsp;&nbsp;&nbsp;3. In 71 successive equal monthly installments of $104,121,503 (One hundred four million one hundred twenty-one
thousand five hundred three pesos) each, maturing on the 17th of each month, beginning on May 17, 2024, and a final installment of $104,121,841
(One hundred four million one hundred twenty-one thousand eight hundred forty-one pesos) maturing on April 17, 2030.

**INTEREST** The principal owed shall accrue, from this date through its maturity, an interest rate of 0.814% monthly expired, calculated based on 30-day months and the number of days actually elapsed, without prejudice to interest in case of default, simple delay or extension. The debtor authorizes the Bank to capitalize accrued and unpaid interest during the initial non-payment period or intermediate periods, if any, and corresponding taxes.

**DEFAULT INTEREST** In case of default or simple delay in payment of any installment into which this obligation is divided, the principal owed shall accrue, from the day it should have been paid and that is effectively due, until effective payment, default interest calculated at the maximum agreed legal rate in force on the date of default or simple delay. This interest may not be applied jointly or additionally, on the same amount, with any other interest, and may not be capitalized for the calculation of any type of interest.

**EXTENSION FOR NON-BUSINESS DAYS** Any payment date for principal and/or interest falling on anon-banking business day shall be extended to the immediately following banking business day, with the relevant payment to additionally include interest for the days of such extension.

**EARLY ACCELERATION ("Exigibilidad Anticipada")** The Bank may declare due and payable the total debt or the balance to which it has been reduced, considering this obligation as having elapsed term, if the obligated parties to its payment revoke the mandates granted to the Bank and obligations in favor of the Bank are not totally extinguished, and in case of default or simple delay in payment of any installment, whether of principal and/or interest, consecutive or not, without prejudice to other creditor rights.

If the obligation evidenced by this Promissory Note is equal to or less than the equivalent of 200Unidades de Fomento, the Bank may declare the total debt due and payable, in case of default or simple delay equal to or greater than 60 calendar days. The Bank may also declare this Promissory Note prepayable in advance, if the obligated parties become insolvent (e.g., they cease payment of any other obligation contracted with the same Banco Santander Chile, or one or more of their creditors solicit or demand the start of any concursal liquidation proceedings under Law 20,720, or by means of preliminary or precautionary measures, seizures, retentions, prohibitions to celebrate acts or contracts on any of their assets are obtained, and such measure is not lifted within 60 days; if the appointment of receivers occurs; if any of their assets are seized; or if any other event evidences insolvency; or if the subscriber provided false or incorrect information for the granting of the loan). The Bank shall be authorized to present this Promissory Note for collection on the date of the relevant event, and to proceed with its "protesto" if necessary.

**DEBITS IN CHECKING ACCOUNTS AND OTHERS** Banco Santander Chile is authorized, without this implying obligation, to debit checking accounts and/or any other credit balance held at the Bank by the subscriber(s) and any of those obligated to payment, to apply payment of all amounts becoming payable under this Promissory Note.

**INDIVISIBILITY AND JOINT AND SEVERAL LIABILITY** All obligations arising from this Promissory Note shall be joint and several for the subscriber(s), guarantor(s) and others obligated to payment, and shall be indivisible for their heirs and/or successors, in accordance with Articles 1526 No. 4 and1528 of the Civil Code.

**TAXATION AND EXPENSES** Taxes, notarial rights and other expenses arising from or affecting this Promissory Note or the credit it evidences or its interest, its modification, extension, payment, judicial or extrajudicial collection or other circumstance arising from or related thereto, shall be borne exclusively by the subscriber(s).

**PREPAYMENTS** The Subscriber may at any time prepay, in whole or in part, the credit evidenced by this Promissory Note. If the credit prepaid corresponds to a money credit operation in national currency whose principal is less than the equivalent of 5,000 Unidades de Fomento, the provisions of Article 10 of Law 18,010 shall apply. Regarding money credit operations in national currency whose principal exceeds the equivalent of 5,000 Unidades de Fomento, any anticipated payment, total or partial, of amounts owed, shall be freely agreed between the subscriber and Banco Santander-Chile or its successors. In the absence of agreement, the subscriber may in any case anticipate payment, in whole or in part, paying the principal anticipated plus interest stipulated in this instrument, accrued and unpaid through the prepayment date, calculated on the outstanding balance, and in addition the interest stipulated in this instrument, calculated on the principal prepaid from the prepayment date through the agreed maturity, or through the maturity of the last installment of principal prepaid in whole or in part, as the case may be. No partial prepayment maybe less than 10% of the obligation balance, unless the creditor consents at the time of prepayment.

**"PROTESTO"** The subscriber(s) and/or guarantor(s) of this Promissory Note hereby release Banco Santander Chile from the obligation of "protesto" of the same, but if the Bank elects to perform such procedure, it may do so, at its discretion, in banking, notarial form or by the corresponding public official. In any case, in the event of "protesto" the resulting expenses and taxes shall be borne by the subscriber(s).

**MANDATE FOR EXTENSIONS** Upon maturity of one or more installments, or any of their extensions and/or renewals, the Bank may extend and/or renew them, at the customer's request and with its consent, with express authority, and in such cases shall determine the interest rate to govern during the new period, which may not exceed the maximum legally allowed for national currency operations.

**MANDATE** By this instrument, the subscriber(s) grant(s) to the guarantor(s), surety(ies) and joint co-debtor(s) identified below in this Promissory Note, a special mandate, with all the powers of both paragraphs of Article Seventh of the Code of Civil Procedure, in such terms that, notification of demand and payment requirement made to any of the guarantor(s), surety(ies) and joint co-debtor(s), shall imply having also been made to the subscriber(s). Equal mandate and with equal consequences are granted between the subscribers of this Promissory Note.

**DOMICILE AND JURISDICTION** For all purposes of this Promissory Note, the subscriber(s),guarantor(s) and others obligated to payment establish special domicile in the district of (blank),without prejudice to that of their domicile(s) or residence(s), at the creditor's election, and submit to the jurisdiction of its Ordinary Courts of Justice.

**Place and date:** Santiago, January 18, 2024

**Customer (Debtor)**

● **Corporate name:** TICKETPLUS SPA

● **RUT:** [\*\*\*]

● **Domicile:** EVARISTO LILLO 48, PISO 12, LAS CONDES

● **Legal representative 1:** CHIEN-FU CHEN CHEN, ID [\*\*\*]

**Bank officer:** MAURICIO ESPINOZA ESCOBAR, Executive Banca Empresas, Banco Santander-Chile.

**JOINT GUARANTEES ("Aval(es)")**

We constitute ourselves as guarantors without limitation and as sureties and joint and several co-debtors of this Promissory Note. Likewise, we accept from now on the extensions, renewals and/or modifications which may be agreed between the creditor and debtor(s), my/our joint and several liability remaining in force in the character of "indivisible", not affected in any form by other guarantees, maintaining full force my/our joint liability even when other persons assume the guaranteed obligations in any form, and even though such persons assume the assets and liabilities of the debtor(s) and introduce modifications to the debtor entity(ies). Banco Santander Chile and its successors, as well as future holders of this instrument, are authorized to modify, substitute, release or waive, in whole or in part, the guarantees currently constituted or that in the future are constituted, this obligation may be enforced against any of my/our heirs and/or successors, in accordance with Articles 1526 No. 4 and 1528 of the Civil Code.

**Aval 1**

**Name:** CHIEN-FU CHEN CHEN

**RUT: [\*\*\*]**

**Domicile:** [\*\*\*]

**Aval 2**

**Name:** YETHRO DINAMARCA SANTELICES

**RUT:** [\*\*\*]

**Domicile: [\*\*\*]**

**Attorney-in-fact 1 of Aval 2:** GONZALEZ MAULEN MARIA PAZ, ID [\*\*\*]

**NOTARIAL AUTHORIZATION**

I authorize the signature(s) of the person(s) previously identified, in the capacity in which they appear.

**Notary date:** Santiago de Chile, **February 9, 2024**. **Notary:** PATRICIA PARAM SARRAS, Substitute Notary, Notary Office No. 33 of Santiago.

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Pagaré":** Chilean promissory note.

● **"Aval / Fiador Solidario":** Joint and several guarantor.

● **"Codeudor Solidario":** Joint and several co-debtor.

● **"Apoderado":** Attorney-in-fact.

● **"Suscriptor":** Subscriber / signer.

● **"Protesto":** Formal default certification on negotiable instruments.

● **"Indivisibilidad":** Indivisibility principle (Civil Code Articles 1526 No. 4 and 1528).

● **"Exigibilidad Anticipada":** Early enforcement / acceleration of the debt.

● **"Comuna":** Chilean administrative subdivision (district).

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit.

● **"Casa Matriz":** Headquarters / main office of the bank.

● **"Impuesto de Timbres y Estampillas":** Chilean Stamp Tax (Decree-Law 3,475 of 1980).

● **Law No. 18,010:** Chilean law governing money credit transactions.

● **Law No. 20,720:** Chilean Bankruptcy and Reorganization Law.

● **"SIN LEY 20.130":** Promissory note format that does not include the disclosure required by Law 20,130 (which governs equal-value mortgage credit operations).

**PROMISSORY NOTE**

**Non-Indexed National Currency Credit**

I/We owe and shall pay to the order of Banco Santander Chile (the "Bank"), at its office Casa Matriz located at Bandera 140, the amount of $2,000,000,000 (Two billion Chilean pesos) which I/we have received as a money loan, which I/we are obligated to pay together with the corresponding interest, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Single installment of $(blank) maturing on (blank).

&nbsp;&nbsp;&nbsp;&nbsp;2. Two installments: first $(blank), second $(blank), maturities (blank).

&nbsp;&nbsp;&nbsp;&nbsp;3. In 47 successive equal monthly installments of $(blank) maturing on the 7th of each month, beginning
on January 7, 2026, and a final installment of $(blank) maturing on (blank).

**INTEREST** The principal owed shall accrue, from this date through its maturity, an interest rate of 0.78% monthly expired, calculated based on 30-day months and the number of days actually elapsed, without prejudice to interest in case of default, simple delay or extension. The debtor authorizes the Bank to capitalize accrued and unpaid interest during the initial non-payment period or intermediate periods, if any, and corresponding taxes.

**DEFAULT INTEREST** In case of default or simple delay in payment of any installment, the principal owed shall accrue, from the day it should have been paid and that is effectively due, until effective payment, default interest calculated at the maximum agreed legal rate in force on the date of default or simple delay. This interest may not be applied jointly or additionally, on the same amount, with any other interest, and may not be capitalized for the calculation of any type of interest.

**EXTENSION FOR NON-BUSINESS DAYS** Any payment date for principal and/or interest falling on anon-banking business day shall be extended to the immediately following banking business day, with the relevant payment to additionally include interest for the days of such extension.

**EARLY ACCELERATION ("Exigibilidad Anticipada")** The Bank may declare due and payable the total debt or the balance to which it has been reduced, considering this obligation as having elapsed term, if the obligated parties to its payment revoke the mandates granted to the Bank and obligations in favor of the Bank are not totally extinguished, and in case of default or simple delay in payment of any installment, whether of principal and/or interest, consecutive or not, without prejudice to other creditor rights.

If the obligation evidenced by this Promissory Note is equal to or less than the equivalent of 200Unidades de Fomento, the Bank may declare the total debt due and payable, in case of default or simple delay equal to or greater than 60 calendar days. The Bank may also declare this Promissory Note prepayable in advance, if the obligated parties become insolvent (e.g., they cease payment of any other obligation contracted with the same Banco Santander Chile, or one or more of their creditors solicit or demand the start of any concursal liquidation proceedings under Law 20,720, or by means of preliminary or precautionary measures, seizures, retentions, prohibitions to celebrate acts or contracts on any of their assets are obtained, and such measure is not lifted within 60 days; if the appointment of receivers occurs; if any of their assets are seized; or if any other event evidences insolvency; or if the subscriber provided false or incorrect information for the granting of the loan). The Bank shall be authorized to present this Promissory Note for collection on the date of the relevant event, and to proceed with its "protesto" if necessary.

**DEBITS IN CHECKING ACCOUNTS AND OTHERS** Banco Santander Chile is authorized, without this implying obligation, to debit checking accounts and/or any other credit balance held at the Bank by the subscriber(s) and any of those obligated to payment, to apply payment of all amounts becoming payable under this Promissory Note.

**INDIVISIBILITY AND JOINT AND SEVERAL LIABILITY** All obligations arising from this Promissory Note shall be joint and several for the subscriber(s), guarantor(s) and others obligated to payment, and shall be indivisible for their heirs and/or successors, in accordance with Articles 1526 No. 4 and1528 of the Civil Code.

**TAXATION AND EXPENSES** Taxes, notarial rights and other expenses arising from or affecting this Promissory Note or the credit it evidences or its interest, its modification, extension, payment, judicial or extrajudicial collection or other circumstance arising from or related thereto, shall be borne exclusively by the subscriber(s).

**PREPAYMENTS** The Subscriber may at any time prepay, in whole or in part, the credit evidenced by this Promissory Note. If the credit prepaid corresponds to a money credit operation in national currency whose principal is less than the equivalent of 5,000 Unidades de Fomento, the provisions of Article 10 of Law 18,010 shall apply. Regarding money credit operations in national currency whose principal exceeds the equivalent of 5,000 Unidades de Fomento, any anticipated payment, total or partial, of amounts owed, shall be freely agreed between the subscriber and Banco Santander-Chile or its successors. In the absence of agreement, the subscriber may in any case anticipate payment, in whole or in part, paying the principal anticipated plus interest stipulated in this instrument, accrued and unpaid through the prepayment date, calculated on the outstanding balance, and in addition the interest stipulated in this instrument, calculated on the principal prepaid from the prepayment date through the agreed maturity, or through the maturity of the last installment of principal prepaid in whole or in part, as the case may be. No partial prepayment maybe less than 10% of the obligation balance, unless the creditor consents at the time of prepayment.

**"PROTESTO"** The subscriber(s) and/or guarantor(s) of this Promissory Note hereby release Banco Santander Chile from the obligation of "protesto" of the same, but if the Bank elects to perform such procedure, it may do so, at its discretion, in banking, notarial form or by the corresponding public official. In any case, in the event of "protesto" the resulting expenses and taxes shall be borne by the subscriber(s).

**MANDATE FOR EXTENSIONS** Upon maturity of one or more installments, or any of their extensions and/or renewals, the Bank may extend and/or renew them, at the customer's request and with its consent, with express authority, and in such cases shall determine the interest rate to govern during the new period, which may not exceed the maximum legally allowed for national currency operations.

**MANDATE** By this instrument, the subscriber(s) grant(s) to the guarantor(s), surety(ies) and joint co-debtor(s) identified below in this Promissory Note, a special mandate, with all the powers of both paragraphs of Article Seventh of the Code of Civil Procedure, in such terms that, notification of demand and payment requirement made to any of the guarantor(s), surety(ies) and joint co-debtor(s), shall imply having also been made to the subscriber(s).

**DOMICILE AND JURISDICTION** For all purposes of this Promissory Note, the subscriber(s),guarantor(s) and others obligated to payment establish special domicile in the district of (blank),without prejudice to that of their domicile(s) or residence(s), at the creditor's election, and submit to the jurisdiction of its Ordinary Courts of Justice.

**Place and date:** Santiago, June 13, 2025

**Customer (Debtor)**

● **Corporate name:** TICKETPLUS SPA

● **RUT:** [\*\*\*]

● **Domicile:** EVARISTO LILLO 48, PISO 12, LAS CONDES

● **Legal representative 1:** CHIEN FU CHEN CHEN, ID [\*\*\*]

**JOINT GUARANTEES ("Aval(es)")**

We constitute ourselves as guarantors without limitation and as sureties and joint and several co-debtors of this Promissory Note. Likewise, we accept from now on the extensions, renewals and/or modifications which may be agreed between the creditor and debtor(s), my/our joint and several liability remaining in force in the character of "indivisible", not affected in any form by other guarantees, maintaining full force my/our joint liability even when other persons assume the guaranteed obligations in any form, and even though such persons assume the assets and liabilities of the debtor(s) and introduce modifications to the debtor entity(ies). Banco Santander Chile and its successors are authorized to modify, substitute, release or waive, in whole or in part, the guarantees currently constituted or that in the future are constituted, this obligation may been forced against any of my/our heirs and/or successors, in accordance with Articles 1526 No. 4 and1528 of the Civil Code.

**Aval 1**

**Name:** YETHRO DINAMARCA SANTELICES

**RUT: [\*\*\*]**

**Domicile: [\*\*\*]**

**Attorney-in-fact 1 of Aval 1:** CHIEN FU CHEN CHEN, ID [\*\*\*]

**Attorney-in-fact 2 of Aval 1:** CATALINA ORIANA LATORRE VALDEVENITO, ID [\*\*\*]

**Aval 2**

**Name:** CHIEN FU CHEN CHEN

**RUT:** [\*\*\*]

**Domicile:** [\*\*\*]

**NOTARIAL AUTHORIZATION**

I authorize the signature(s) of the person(s) previously identified, in the capacity in which they appear.

**Notary date:** Santiago de Chile, **July 4, 2025**. **Notary:** PAMELA VÁSQUEZ AVENDAÑO, Substitute Notary, Notary Office No. 37 of Santiago.

**Untranslatable Chilean legal terms**

● **"RUT" (Rol Único Tributario):** Chilean unique tax identification number.

● **"Pagaré":** Chilean promissory note.

● **"Aval / Fiador Solidario":** Joint and several guarantor.

● **"Codeudor Solidario":** Joint and several co-debtor.

● **"Apoderado":** Attorney-in-fact.

● **"Suscriptor":** Subscriber / signer.

● **"Protesto":** Formal default certification on negotiable instruments.

● **"Indivisibilidad":** Indivisibility principle (Civil Code Articles 1526 No. 4 and 1528).

● **"Exigibilidad Anticipada":** Early enforcement / acceleration of the debt.

● **"Comuna":** Chilean administrative subdivision (district).

● **"Unidad de Fomento" (UF):** Chilean inflation-indexed accounting unit.

● **"Casa Matriz":** Headquarters / main office of the bank.

● **"Impuesto de Timbres y Estampillas":** Chilean Stamp Tax (Decree-Law 3,475 of 1980).

● **Law No. 18,010:** Chilean law governing money credit transactions.

● **Law No. 20,720:** Chilean Bankruptcy and Reorganization Law.

● **"SIN LEY 20.130":** Promissory note format that does not include the disclosure required by Law 20,130.

**PROMISSORY NOTE**

**Credit in Non-Indexed National Currency**

No.: _______

I/We owe and shall pay to the order of Banco Santander Chile (the "Bank"), at its CASA MATRIZ (Head Office) located at Bandera 140, the sum of $2,500,000,000.- (TWO BILLION FIVE HUNDRED MILLION pesos, legal tender) which I/we have received as a loan in cash, and which I/we undertake to pay, together with the corresponding interest, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. In a single installment of $_______, with maturity on ___ of _______ of the year ____.

&nbsp;&nbsp;&nbsp;&nbsp;2. In 2 installments, the first installment of $_______, with maturity on ___ of _______ of the year, and
a second installment of 2 of $___, with maturity on ___ of _______ of the year ____.

&nbsp;&nbsp;&nbsp;&nbsp;3. In 47 successive and equal MONTHLY installments of $_______ (amount not stated in form), each one maturing
on day 5 of EACH MONTH, starting from 5 of JULY of the year 2026, and through ___ of _______ of the year, and a final installment of $___.

**[Translator's note:** Section 3 of the pre-printed form states "47" installments and leaves blank the line for a differing final installment. The Bank's official amortization schedule (cartola, attached separately) lists 48 monthly installments in total, from July 6, 2026 through June 5, 2030, with amounts that increase in principal and decrease in interest over the term. The credit therefore amortizes in 48 monthly installments; the "47" figure on the form reflects 47 equal-frequency installments plus the final one. The amortization schedule governs as to installment count, dates and amounts.]

**INTEREST**

The outstanding principal shall accrue, from this date and until its maturity, interest at a rate of 0.73%per month overdue, calculated on the basis of 30-day months and for the number of days actually elapsed, without prejudice to default interest in the event of arrears, simple delay or extension. The debtor(s) hereby authorize the Bank to capitalize accrued and unpaid interest during the initial non-payment period or any intermediate periods, if any, and the corresponding taxes.

**DEFAULT INTEREST**

In the event of default or simple delay in the payment of any of the installments into which this obligation is divided, the outstanding principal shall accrue, from the day on which it should have been paid and while it remains effectively overdue and until its effective payment, default interest calculated at the maximum conventional rate in force on the day of the default or simple delay. This interest may not be applied jointly and additionally, over the same amount, with any other interest, and may not be capitalized for the calculation of interest of any kind.

**EXTENSION OF TERM FOR NON-BUSINESS DAYS**

Any date for the payment of principal and/or interest that falls on a non-banking business day shall extend the term for payment until the immediately following banking business day, and the respective payment must additionally include the interest corresponding to the days comprised in the extension.

**ACCELERATION (EARLY ENFORCEABILITY)**

The Bank may demand the full payment of the total amount of the debt, or of the reduced balance thereof, treating this obligation as having matured, if the party or parties obligated to pay it revoke the mandates granted to the Bank and the obligations in favor of the Bank are not fully extinguished, and in the event of default or simple delay in the payment of any of the installments into which this obligation is divided, whether principal and/or interest, whether consecutive or not, without prejudice to the other rights of the creditor.

If the obligation evidenced by this promissory note is equal to or lower than the equivalent of 200 unidades de fomento, the Bank may demand the full payment of the total amount of the debt, or of the reduced balance thereof, treating the obligation evidenced by this promissory note as having matured, in the event of default or simple delay equal to or greater than 60 calendar days. In addition, this promissory note evidencing the obligation may be made enforceable and presented for collection in the event of default or simple delay once the 60-day term has elapsed, as applicable, from the default or simple delay, without need of any formality or declaration.

Likewise, this promissory note may be made enforceable in advance if the party or parties obligated to pay it become insolvent, it being understood for all purposes that insolvency of such party exists if it ceases to pay any other obligation contracted with Banco Santander Chile itself, or if it or one or more of its creditors request or file for the commencement of any liquidation insolvency proceeding under Law 20,720, or if, by means of precautionary or interim measures, attachments, retentions, prohibitions to enter into acts or contracts with respect to any of its assets are obtained against it, and such measure is not lifted or cancelled within 60 days from when it was sought, or upon the appointment of receivers; if an attachment is levied on any of its assets, or if any other fact also evidences its insolvency, and/or in the event the subscriber has provided false or incorrect information for purposes of the granting of the loan evidenced by this instrument. For this purpose, the Bank shall be entitled to present this promissory note for collection, on the date on which any of the grounds entitling it to demand immediate payment of this promissory note has occurred, and to proceed to protest it if necessary.

**CHARGES TO CURRENT ACCOUNTS AND OTHERS**

Banco Santander Chile is hereby authorized, without this constituting an obligation, to debit the current account(s) and/or any other credit balance held with the Bank by the subscriber(s) and any of the parties obligated to pay, in order to obtain payment of all amounts that become enforceable under this promissory note.

**INDIVISIBILITY AND JOINT AND SEVERAL LIABILITY**

All obligations arising from this promissory note shall be joint and several for the subscriber(s), guarantor(s) (avalistas) and other parties obligated to pay, and shall be indivisible for their heirs and/or successors, in accordance with Articles 1,526 No. 4 and 1,528 of the Civil Code.

**TAXATION AND EXPENSES**

The taxes, notarial fees and other expenses caused by or affecting this promissory note or the credit it evidences or its interest, its amendment, extension, payment, judicial or extrajudicial collection or any other circumstance related to or arising from it, shall be exclusively borne by the subscriber(s).

**PREPAYMENTS**

The Subscriber may at any time prepay, in whole or in part, the credit evidenced by this promissory note. In the event that the credit being prepaid corresponds to a credit operation in national currency whose principal is lower than the equivalent of 5,000 unidades de fomento, the provisions of Article 10of Law 18,010 shall apply. With respect to credit operations in national currency whose principal is greater than the equivalent of 5,000 unidades de fomento, any prepayment, whether total or partial, of the amounts owed shall be freely agreed between the subscriber and Banco Santander Chile or whoever succeeds to its rights. Failing such agreement, the subscriber may in any case prepay the credit, in whole or in part, by paying the principal whose payment is being prepaid plus the interest stipulated in this instrument, accrued and unpaid as of the prepayment date, and additionally the interest stipulated in this instrument, calculated on the prepaid principal from the prepayment date until the agreed maturity, or until the maturity of the last installment of the principal being prepaid in whole or in part, as applicable. No partial prepayment may be lower than 10% of the balance of the obligation, unless the creditor consents to it at the time of the prepayment.

**PROTEST**

The subscriber(s) and/or guarantor(s) (avalistas) of this promissory note hereby release Banco Santander Chile from the obligation to protest it; however, should the Bank elect to do so, it may carry out such procedure, at its choice, in banking or notarial form or by the corresponding public official. Inany event, in the case of protest, the expenses and taxes accrued for this reason shall be borne by the subscriber(s).

**MANDATE FOR EXTENSIONS**

Upon the maturity of the term of one or more installments, or of any of their extensions and/or renewals, the Bank may extend and/or renew them, at the customer's request and with its consent, and is expressly authorized to do so; and in such cases the Bank shall determine the interest rate that will govern during the new period, which may not exceed the maximum rate that the law allows to stipulate for operations in national currency. In order for the extension and/or renewal to take full effect, it shall suffice for the Bank to record it on the promissory note or on an attached sheet stating the new maturity date(s).

**MANDATE**

By this instrument, the subscriber(s) grant to the guarantor(s) (avalistas), surety(ies) (fiadores) and joint and several co-debtor(s) individualized below in this promissory note a special mandate, with all the powers of both paragraphs of Article Seven of the Code of Civil Procedure, which are understood to be expressly reproduced one by one and known, in such terms that the service of the complaint and the payment demand carried out on any one of the guarantor(s), surety(ies) and joint and several co-debtor(s) shall be deemed to have also been carried out on the subscriber(s). The same mandate, with the same consequences, is granted among themselves by the subscribers of this promissory note.

**DOMICILE AND JURISDICTION**

For all purposes of this promissory note, the subscriber(s), guarantor(s) and other parties obligated to pay establish a special domicile in the commune of _______, without prejudice to the one corresponding to their domicile(s) or residence(s), at the creditor's choice, and submit to the jurisdiction of its Ordinary Courts of Justice.

**EXECUTION**

In **SANTIAGO**, on ___ of _______ of the year **2026**.

● **Customer:** TICKETPLUS SPA

● **RUT:** [\*\*\*]

● **Domicile:** EVARISTO LILLO 48 PISO 12, LAS CONDES

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Role** | &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**National ID (C.I.)** |
| &nbsp;&nbsp;Legal Representative 1 | &nbsp;&nbsp;CHIEN FU CHEN CHEN | &nbsp;&nbsp;[\*\*\*] |

---

**GUARANTORS (AVALES)**

I/We hereby constitute ourselves as guarantor(s) (aval) without limitations, and as surety(ies) (fiadores) and joint and several co-debtor(s) of this promissory note. Likewise, I/we accept from this moment any extensions, renewals and/or amendments that may be agreed between the creditor and the debtor(s), my/our joint and several liability remaining in force as indivisible, and not being affected in any way by other guarantees that have been constituted or by the fact that other persons assume the obligations subject to this guarantee and joint and several co-debtorship, my/our joint and several liability remaining fully in force even when other persons take upon themselves the guaranteed obligations in any form, and even though such third person(s) take charge of the debtor's assets and liabilities and introduce amendments to the debtor company(ies). Banco Santander Chile, and whoever represents its rights, as well as future holders of this instrument, are hereby authorized to amend, substitute, release or waive, in whole or in part, the guarantees currently constituted or that may in the future be constituted to secure the obligations referred to in this promissory note, and may demand compliance with this obligation from any of my/our heirs and/or successors, in accordance with the provisions of Articles 1,526 No. 4 and 1,528 of the Civil Code.

**MANDATE (GUARANTORS)**

By this instrument, the guarantor(s) (avalistas) grant to the subscriber(s) individualized above a special mandate, with all the powers of both paragraphs of Article Seven of the Code of Civil Procedure, which are understood to be expressly reproduced one by one and known, in such terms that the service of the complaint and the payment demand carried out on any one of the subscriber(s) shall be deemed to have also been carried out on the guarantor(s). The same mandate, with the same consequences, is granted among themselves by the guarantors, sureties and joint and several co-debtors of this promissory note.

**Guarantor 1 (Aval 1):**

● Name: YETHRO DINAMARCA SANTELICES

● RUT: [\*\*\*]

● Domicile: [\*\*\*]

● Attorney-in-fact 1 of Guarantor 1: CHIEN-FU CHEN CHEN, C.I. [\*\*\*]

● Attorney-in-fact 2 of Guarantor 1: ALEJANDRA FRANCISCA BONE EUGENIN, C.I. [\*\*\*]

**Guarantor 2 (Aval 2):**

● Name: CHIEN-FU CHEN CHEN

● RUT: [\*\*\*]

● Domicile: [\*\*\*]

**NOTARIAL AUTHORIZATION**

I authorize, upon prior verification of identity by means of the respective national identity card(s) and in the capacity in which they appear, the signature(s) of:

**[Translator's note:** Notary field blank in the scanned copy available; notarial authorization pending confirmation against the signed original.]

## Exhibit 10.11

**Exhibit 10.11**

**Notary of Santiago Luis Eduardo Rodríguez Burr**

I certify that this electronic document is a true and complete copy of the SUBLEASE AGREEMENT executed on May 24, 2024, reproduced on the following pages.

Notary of Santiago Luis Eduardo Rodríguez Burr.

Av. Providencia 1777.

Santiago, May 27, 2024.

**SUBLEASE AGREEMENT**

**INMOBILIARIA E INVERSIONES GENAU SpA**

AND

**TICKETPLUS SpA**

In Santiago, Chile, on April 1, 2024, the following parties appear: the company INMOBILIARIA E INVERSIONES GENAU SpA, tax identification number 76.514.013-7, duly represented by Ms. Catalina Oriana Latorre Valdevenito, Chilean, single, attorney, national identity card number [\*\*\*], both domiciled for these purposes at Alonso de Córdova No. 5320, floor 16, commune of Las Condes, Metropolitan Region, hereinafter also referred to as the "Sublandlord"; and the company TICKETPLUS SpA, tax identification number 76.468.188-6, duly represented by Mr. CHIEN-FU CHEN CHEN, Chilean, single, engineer, national identity card number [\*\*\*], both domiciled for these purposes at Evaristo Lillo No. 48, floor 12, commune of Las Condes, Metropolitan Region, hereinafter also referred to as the "Subtenant"; and together with the landlord, the "Parties"; the appearing parties, being of legal age, who verify their identities with the aforementioned identity cards and state that they have agreed to enter into this sublease agreement (hereinafter the "Agreement"), which shall be governed by the stipulations contained in this instrument and, subsidiarily, by the applicable provisions of the Civil Code:

**<u>FIRST: Declarations.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>1.1</u>** <u>.</u> By means of a public deed executed on August 31, 2022, before the Forty-Fifth Notary of Santiago of Mr. Gerardo Carvallo Castillo, notarial record number 15.043-2022, Mutual de Seguros de Chile leased with an option to purchase to Inmobiliaria e Inversiones Genau SpA, offices 1601, 1602, 1603 and 1604 on floor sixteen, parking spaces numbers 2045, 2046, 2.047, 2053 of the second basement; parking spaces 3.003, 3.004, 3.005, 3.006 and 3.013 of the third basement; parking space No. 4.021 together with storage unit No. 405, parking space No. 4.022 together with storage unit No. 406, parking space No. 4.025, parking space No. 4.026 and parking space No. 4.035 of the fourth basement; parking spaces No. 5.039, 5.041, 5.055, 5.056 together with parking space No. 5.057 and storage unit No. 526 of the fifth basement; parking space No. 6.081 together with parking space No. 6.081, parking space No. 6.082, parking space No. 6083, parking space No. 6.084 and parking space No. 6.085 of the sixth basement, all of the so-called Edificio Parque Oriente, with access via Avenida Alonso de Córdova No. 5.320, commune of Las Condes, Metropolitan Region.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>1.2</u>** <u>.</u> That the parties have all necessary authorizations for the execution of this Agreement and their corporate purpose allows them to lease the property identified above.

**<u>SECOND: Sublease.</u>**

By this act, INMOBILIARIA E INVERSIONES GENAU SpA, duly represented as stated in the preamble, subleases to TICKETPLUS SpA, which in turn, duly represented, accepts in sublease the following properties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>2.1</u>** <u>Subleased Property.</u> The property corresponds to offices numbers 1603 and 1604, parking spaces number 2047 of the second basement; 3003 and 3005 of the third basement; 4021 of the fourth basement; 5041, 5055, 5056-5067 of the fifth basement; 6083, 6084 and 6085 of the sixth basement, and storage unit number 405 of the fourth basement, all of the so-called Edificio Parque Oriente, with access via Avenida Alonso de Córdova No. 5.320, commune of Las Condes, Metropolitan Region, with the sole and exclusive purpose of using them for the exploitation of activities inherent to its business, under the terms and conditions stipulated in this Agreement (hereinafter the "Office").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>2.2</u>** <u>Access.</u> It is hereby recorded that the Subtenant shall have free access to the Office 365 days a year, 7 days a week and 24 hours a day, provided it complies with the security requirements and regulations set forth in the Condominium Regulations.

**<u>THIRD: Sublease Rent.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.1</u>** <u>Rent.</u> The monthly Sublease Rent ("Rent") for the Office shall be the total equivalent in Chilean pesos, legal tender currency as of the date of effective payment, of 207.2 UF (two hundred seven point two Unidades de Fomento).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.2</u>** <u>Payment of Rent.</u> The monthly sublease rent shall be paid in advance, within the first five (5) days of each month, at the Sublandlord's domicile or at the place indicated by the Sublandlord, by check payable to the order of the Sublandlord, or by deposit into a current bank account indicated by the Sublandlord, in accordance with the value of the Unidad de Fomento in force on the date of effective payment as reported by the Central Bank of Chile or the entity that replaces it in its functions. If the Unidad de Fomento ceases to be determined, or if the competent authority modifies the manner in which it is currently determined, such that its value does not faithfully reflect the variations of the Consumer Price Index as determined by the Instituto Nacional de Estadísticas or the entity that replaces it, the pending Rents shall be readjusted in equal proportion to the variation experienced by the said index between the last day of the month prior to the date of payment of the last Rent readjusted according to the Unidad de Fomento and the last day of the month prior to the date of effective payment of each Rent, using as a base the last amount in pesos paid before any of the indicated events occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.3</u>** <u>Default Interest.</u> In the event of default or simple delay in the payment of any of the Rents, the amount owed shall accrue current interest, calculated from the date of default or simple delay until the date of effective payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.4</u>** <u>Services.</u> As of the date of delivery of the Office, the Subtenant shall be responsible for the proportional payment of utility bills for the Office, including water, electricity, garbage removal, common expenses, and other analogous charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.5</u>** <u>Mandatory Payment.</u> The Subtenant agrees that full payment of the Rent is mandatory and shall be paid in full during the term of this Agreement even when the Office is not in use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.6</u>** <u>Waiver of Retention.</u> The Subtenant hereby irrevocably and unconditionally undertakes not to withhold under any concept the amount of the Rent nor to exercise any legal right of retention over the Office, expressly waiving the provisions of Article 1937 of the Civil Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>3.7</u>** <u>No Novation.</u> This Agreement shall not be considered novated, nor shall the obligations of the Subtenant under its terms be modified, merely because the Sublandlord receives the Rent from the Subtenant on a date, in a form or at a place other than those established in this clause.

**<u>FOURTH: Term of the Agreement.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>4.1</u>** <u>Term.</u> The sublease agreement shall have a duration of 12 months, from April 1, 2024 through March 31, 2025. The term of the agreement shall be understood to be automatically renewed for successive equal periods of 12 months, unless either party notifies the other of its wish to terminate it by certified letter sent to the other party's domicile and by email as indicated in this agreement, at least 60 calendar days in advance of the expiration date of the initial term or any of its renewals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>4.2</u>** <u>Visits.</u> During the entire term of this Agreement, the Subtenant shall allow and facilitate, at least three days per week and for at least one hour each of those days, visits by interested parties duly authorized in writing by the Sublandlord, or by real estate brokers engaged to sell the property, to visit the Office. Such visits must be conducted on business days during office hours, and must be notified at least one (1) day in advance.

**<u>FIFTH: Physical Delivery and Restitution of the Property.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>5.1</u>** <u>Delivery Conditions.</u> The Office is delivered at this act with the installations and characteristics it has at the time of execution of this Agreement, with interior partitions, and with its utility and common expense accounts up to date. The Parties agree that all utility and service expenses of any nature, in proportion to the subleased Office, such as water, electricity, or any other service, shall be at the expense and charge of the Subtenant as of the date of physical delivery of the Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>5.2</u>** <u>Restitution.</u> The restitution of the Office shall be carried out in accordance with this Agreement, without further formalities and without the need for any prior notice or notification, placing it at the disposal of the Sublandlord in good condition, considering the quality and condition of the Building, without more wear than that of its own normal use, free of any occupant under any title, and handing over the keys. Expenses incurred by the Subtenant occasioned by or in connection with the restitution of the Office shall be at the Subtenant's exclusive expense and cost. If any of the grounds for early termination stipulated in this Agreement are judicially declared, the Subtenant undertakes to immediately restore the Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>5.3</u>** <u>Other Installations.</u> At the time the Subtenant vacates and returns the Office to the Sublandlord, it must remove those installations, objects, and equipment belonging to the Subtenant that can be separated without causing damage to the Office; with the understanding that it will return the Office to the Sublandlord in at least the same condition in which it received it, with no more wear than that of its own normal use. However, upon termination of the Agreement, the Sublandlord may accept that certain installations remain in the Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>5.4</u>** <u>Damages.</u> Consequently, the Subtenant undertakes to return the Office to the Sublandlord in good condition; otherwise, it shall be obligated to compensate the Sublandlord for any damage the Office may present.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>5.5</u>** <u>Penalty.</u> In the event of default or simple delay in restitution, the Subtenant shall pay, as an agreed and mutually accepted anticipatory penalty clause, in addition to the Rent, an amount equivalent to five percent (5%) of the last Rent for each day or fraction of a day of delay.

**<u>SIXTH: Maintenance and Improvements.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.1</u>** <u>Locative Repairs.</u> The Subtenant shall maintain, at its own expense and cost, the Office in good order and conservation, in accordance with the quality and special conditions of the Building, carrying out at its own expense the locative repairs. By way of further clarification and without the following enumeration being limiting, the Parties declare that this obligation includes the maintenance in perfect working order of faucet hardware, stopcocks, valves and toilet floats, electrical installation switches and outlets, and similar items, and especially those intelligent systems and appliances incorporated in accordance with the technology used in an "intelligent" Building as stipulated in this Agreement. The Subtenant shall not be entitled to any reimbursement or indemnification for the locative repairs and/or maintenance it carries out, nor for the elements it replaces or incorporates into the Office by virtue of such maintenance or repairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.2</u>** <u>Non-Locative Repairs.</u> Non-locative repairs necessary to keep the Office in serviceable condition for the Subtenant, such as repairs of structural damage, plumbing, drains, pipe leaks and roofs and other similar nature, shall be at the expense of the Owner and may not be charged to the Subtenant for any reason or justification. To this end, the Subtenant shall inform the Sublandlord of the need to carry out such repairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.3</u>** <u>Improvements.</u> All improvements introduced by the Subtenant to the Office, or any variations or transformations of any kind or nature thereto, must have the prior written authorization of the Sublandlord, for which the Subtenant must submit scale drawings, technical reports, descriptive reports and any other technical documentation or details that the landlord deems necessary. In any case, such improvements shall always remain for the benefit of the Office from the moment they are made, without any right to compensation on the part of the Sublandlord, unless by their nature they can be removed by the Subtenant at the end of the Agreement without detriment to the Office. Without prejudice to the foregoing, the Sublandlord shall always be entitled to require that the Office be returned in the same condition in which it was delivered, with the furniture it contains, in perfect order and conservation, all of which shall be at the expense and cost of the Subtenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.4</u>** <u>Inspection.</u> In order to verify compliance with these obligations, the Subtenant authorizes the Sublandlord to inspect the Office, giving written notice of the inspection visit at least three (3) days in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.5</u>** <u>Fit-Out.</u> The Subtenant declares that it does not need to carry out works to fit out the Office. Any such work required by the Subtenant must be approved by the Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>6.6</u>** <u>Other Modifications.</u> In the event that the Subtenant introduces modifications or improvements to the Office during the term of this Agreement that involve transformation, air conditioning installations, smoke detectors, sprinklers, centralized control, false ceilings, electrical installations and/or the Building's design, it undertakes to obtain the Sublandlord's authorization and to request prior approval from the specialist engineers, designers, calculators, and contractors responsible for the respective specialties.

**<u>SEVENTH: Obligations of the Subtenant.</u>**

The following shall be obligations of the Subtenant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.1</u>** <u>Payment of Rent.</u> To pay in full and on time all Rents. Failure to pay the Rent for two (2) consecutive months shall entitle the Sublandlord to seek early termination of the Agreement, without prejudice to the penalties established in the Agreement and the other sanctions established in this instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.2</u>** <u>Payment of Services and Common Expenses.</u> To pay in full and on time the utilities, in proportion to the subleased property, including electricity, internet, water, common expenses and others that arise, to the Sublandlord so that it may pay the companies, persons or entities corresponding to the Office or the Building administration, as applicable. For purposes of this Agreement, "Common Expenses" means: (a) ordinary common expenses, including without limitation, maintenance, cleaning and security services, electricity, water and similar charges corresponding to common areas, administration expenses, Building insurance contracted pursuant to the Condominium Regulations; and (b) extraordinary common expenses associated with the normal use of the property that (i) do not constitute an improvement (ii) are not generated by an act of God or force majeure (iii) are not repairs that can be capitalized in accordance with Generally Accepted Accounting Principles and that are depreciable as fixed assets, including major repairs to the Building structure, air conditioning system, elevators or others, which in such case shall be at the expense of the owner. Likewise, disbursements required pursuant to the various funds provided for in the Condominium Regulations, all of which are at the expense of the Sublandlord, do not constitute a common expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.3</u>** <u>Use of the Subleased Property.</u> To use the Office solely and exclusively for the development of activities related to the exercise of its professional services, as well as the installation of equipment related to its business. The Sublandlord does not declare or guarantee that the use to which the Subtenant will put the Office is permitted by the applicable laws or ordinances, nor that the Subtenant will obtain the necessary permits and authorizations for its use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.4</u>** <u>Restitution of the Subleased Property.</u> To return the subleased property on time and in good condition, that is, in good order and conservation, taking into account wear from legitimate use and the passage of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.5</u>** <u>Condominium Regulations.</u> To comply with the obligations established in the Building's Condominium Regulations, which the Subtenant declares to know and accept.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.6</u>** <u>Hazardous Substances.</u> To keep the Office and its surrounding areas free from any toxic, flammable, reactive, radioactive or corrosive residue or substance or any substance regulated by any law, regulation, or resolution governing safety and health, as well as environmental protection ("Hazardous Substances").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.7</u>** <u>Environmental Legislation.</u> To comply with all applicable Chilean laws, regulations and standards related to environmental protection ("Environmental Legislation"). Likewise, the Subtenant shall be responsible for any contingency, liability or breach of Environmental Legislation arising from the use or enjoyment of the Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.8</u>** <u>Indemnification of Sublandlord.</u> The Subtenant undertakes to indemnify, defend, protect and hold harmless the Sublandlord, as well as its executives, employees and partners, from any claim, demand, fine, liability or expense (including reasonable attorneys' fees), originating or incurred, directly or indirectly, from a lawsuit or claim against the Sublandlord, for breach of the obligations set forth in the preceding items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.9</u>** <u>Safety and Hygiene Standards.</u> The Subtenant undertakes to comply at all times with applicable safety and hygiene standards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>7.10</u>** <u>Other Applicable Regulations.</u> The Subtenant, at its exclusive expense and responsibility, undertakes to occupy and use the Office and to carry out its corporate activities in the Office in compliance with all provisions and restrictions applicable to such use, in accordance with Chilean laws, regulations, decrees, ordinances, standards, urban plans, rulings, permits, licenses, authorizations and restrictions, and other regulations currently or in the future applicable to the Office and/or to the Subtenant's activities in the Office, whether from central or municipal government (hereinafter collectively referred to as "Applicable Regulations").

**<u>EIGHTH: Prohibitions on the Subtenant.</u>**

The Subtenant is prohibited from carrying out the following acts, deeds and contracts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.1</u>** <u>Modifications.</u> To introduce substantial or structural improvements, modifications or alterations of any kind or nature that alter the design of the Building into the Office, without the prior written authorization of the Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.2</u>** <u>Use.</u> To use the Office, even sporadically or temporarily, for a purpose other than that referred to in Clause 7.3 of this Agreement. Likewise, the Subtenant is prohibited from changing the purpose for which it was subleased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.3</u>** <u>Nuisances.</u> To engage in conduct that, being contrary to the prohibitions indicated in the Condominium Regulations, causes nuisances to neighbors and occupants of the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.4</u>** <u>Hazardous Substances.</u> To introduce or maintain in the Office explosive, flammable, malodorous, dangerous or corrosive materials or those that directly or indirectly harm the health, salubrity and hygiene of the Building's occupants, or that affect persons or properties and/or common use areas and/or facades forming part of the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.5</u>** <u>Condominium Regulations.</u> To breach or violate the rules and/or prohibitions contained in the Building's Condominium Regulations, which the Subtenant declares to know and accept.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>8.6</u>** <u>Load.</u> To exceed the load stipulated in the slabs according to the calculation established for each zone. In the event that the Subtenant must install elements whose weight exceeds that of those normally found in an office, it must request authorization from the Building's structural engineer and the landlord.

**<u>NINTH: Municipal or Authority Permits and Risk of Damage to Third Parties.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>9.1</u>** <u>Payment of Permits and Patents.</u> The Parties place on record that it shall be the exclusive responsibility of the Subtenant to obtain, process and pay all municipal permits and/or patents, sanitary and operating authorizations, and in general, all authorizations from the competent authority, the law or regulations necessary to operate in them in accordance with the purpose of this Agreement. The Subtenant must provide the Sublandlord, at its sole request, with a true, correct and complete copy of such authorizations, licenses and permits that relate to the Office or that may affect it, including without limitation all permits related to health, safety and environmental matters to the extent they relate to the Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>9.2</u>** <u>Reimbursement.</u> Likewise, the Subtenant guarantees the Sublandlord reimbursement with current interest of any commercial, civil, labor, tax, administrative or any other liability arising from the use the Subtenant makes of the Office, including those arising from fines for infractions of any nature that the landlord, its agents or dependents may incur and that could be made effective jointly or subsidiarily against the Sublandlord in accordance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>9.3</u>** <u>Damages to Third Parties.</u> The Subtenant shall be liable for damages that may occur to the property or persons of third parties on the occasion of fires, earthquakes, accidents, thefts, explosions, floods, leaks, pipe bursts, effects of humidity or heat, provided that these originate from acts, deeds or omissions directly attributable to the Subtenant.

**<u>TENTH: Expiration of the Term.</u>**

In the event that the Subtenant is declared bankrupt, or requests it itself, or if one or more of its creditors submit judicial or extrajudicial composition proposals, the Sublandlord may opt to declare the expiration of the term of validity of the Agreement and, consequently, demand the restitution of the Office or demand the advance payment of future Rents, under the same terms indicated below.

**<u>ELEVENTH: Security Deposit.</u>**

In order to guarantee the conservation of the Office, as well as its return in the same condition in which it is received, taking into account its use and natural wear and tear, payment of damages and deterioration caused, its services and installations, and in general, to respond to the faithful performance of the stipulations of this Agreement, the Subtenant delivers as a guarantee in this act to the Sublandlord the equivalent in Chilean pesos of 0 UF (Zero Unidades de Fomento) payable at this act, which the Sublandlord also undertakes to return in equivalent amount within 60 calendar days following the date on which the Office has been returned to the Sublandlord's satisfaction.

The Subtenant may not, under any circumstances, apply the guarantee to the payment of rent, not even the last month's rent.

**<u>TWELFTH: Defaults.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.1</u>** <u>Defaults by the Subtenant.</u> Each of the following cases shall constitute a cause of default ("Cause of Default") of the Subtenant under this Agreement, if the Subtenant does not remedy said Cause of Default within the corresponding period for doing so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.2</u>** <u>Cure Period.</u> Unless otherwise expressly established for a specific case, the period to cure a Cause of Default shall be ten (10) calendar days, counted from the date on which the Subtenant receives written notice from the Sublandlord specifying the Cause of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.3</u>** <u>Causes of Default.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Subtenant operates or uses the Office for any purpose other than that authorized;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Subtenant fails to timely pay the Rents or any other payment under its charge pursuant to this Agreement. The period to cure this Cause of Default is five (5) business days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Subtenant fails to comply with or breaches any regulation applicable to the Office, with the understanding that if the Subtenant breaches the same regulation on more than two (2) occasions, the third breach shall be considered a Cause of Default (with no cure period for such breach);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Subtenant (i) makes an assignment of its assets for the benefit of creditors; (ii) presents a judicial composition or initiates any process, proceeding or other action to obtain a discharge order in its favor as a debtor or to be declared bankrupt or insolvent, or seeks reorganization, arrangement, adjustment, liquidation, dissolution or restructuring of its debts or (iii) has an administrator, trustee, receiver or similar official appointed for the administration of all or part of its assets; (iv) becomes subject to any of the foregoing measures and does not conclude within sixty days following the initiation thereof; or (v) ceases to exist legally (in the event that the Subtenant is a legal entity). In the case of the Subtenant, there shall be no cure period for this last Cause of Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If the Subtenant fails to comply with any other obligation under its charge in this Agreement and continues without curing it within ten (10) days counted from the notification by the Sublandlord of the Cause of Default in question.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.4</u>** <u>Liability of the Parties.</u> In accordance with the applicable regulations and the provisions of this Agreement and provided the Subtenant is in compliance with all its obligations under this Agreement, the Sublandlord and the Owner guarantee the Subtenant the peaceful use and enjoyment of the Office during the term of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.5</u>** <u>Waiver.</u> The Subtenant acknowledges that its obligations to use, vacate and return possession of the Office are governed by the aforementioned provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>12.6</u>** <u>Actions of the Sublandlord.</u> Upon the occurrence of a Cause of Default, the Sublandlord may exercise any of the following actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Demand specific performance of the Agreement, including all interest and penalties accrued in accordance therewith, as well as any compensation for damages to which it may be entitled by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Terminate this Agreement, in which case the Subtenant shall be obligated to pay all expenses incurred by the Sublandlord to obtain effective payment of the obligations owed by the Subtenant, attorneys' fees and expert fees, and court costs, in order to recover possession of and return the Office in the same conditions in which it was delivered to the Subtenant, without prejudice to the remaining amounts owed by the Subtenant under applicable law. Additionally, the Parties mutually and anticipatorily assess the damages that the early termination of the Agreement due to a Cause of Default would cause to the Sublandlord at the equivalent of 2 Rents as of the date of effective payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Fulfill any obligation with which the Subtenant has not complied, in which case the Subtenant shall be obligated to reimburse the Sublandlord for all costs and expenses incurred by the Sublandlord in carrying out such obligation, plus maximum conventional interest accrued from the date on which the Sublandlord incurred such costs and expenses until the date the Sublandlord effectively receives payment of the principal and accrued interest. These payments shall be considered part of the Rent for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each and every one of the actions set forth in favor of the Sublandlord in this Agreement shall be in addition to any other action that the Sublandlord may exercise in accordance with the law, in defense of its interests.

**<u>THIRTEENTH: Default Interest.</u>**

Any payment or reimbursement made by the Parties after the agreed dates in this Agreement shall entitle the other party to charge current interest for restateable transactions, on the total outstanding obligation until the date of effective payment, without prejudice to the readjustment applicable, if not previously agreed upon, which shall be determined by applying the variation experienced by the Unidad de Fomento between the date on which the payment should have been made and the date on which it is actually made or, in the event that such unit ceases to exist, in accordance with the variation experienced by the Consumer Price Index during the same period.

**<u>FOURTEENTH: Robbery, Injuries, Damages.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>14.1</u>** <u>Liability of the Sublandlord.</u> The Sublandlord shall not be liable for any damage to the Subtenant's property or that of other persons located in the Office, nor for losses or damages to any property of the Subtenant or other persons, by robbery or by any other circumstance not directly attributable to the Sublandlord, or to its factors or dependents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>14.2</u>** <u>Damages.</u> The Sublandlord shall also not be liable for any injury or damage without cause directly attributable to itself or its factors or dependents, occurring to persons or property in the Office, whether caused by fire, explosion, falling materials, steam, gas, electricity, water or rain, except where attributable to causes imputable to the Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>14.3</u>** <u>Personal Property.</u> Property belonging to the Subtenant located or stored in the Office shall be maintained in this manner at the exclusive risk of the Subtenant and the Subtenant hereby releases the Sublandlord from all liability and claims to that effect, unless such damages were caused by intentional acts or gross negligence of the Sublandlord.

**<u>FIFTEENTH: Indemnification.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>15.1</u>** <u>Indemnification Commitment.</u> The Subtenant hereby undertakes to indemnify and hold harmless the Sublandlord and the Owner; its subsidiary, affiliated and controlling companies, as well as the shareholders, directors, officers, employees and agents of the foregoing, from and against any and all claims, expenses or other losses (including reasonable attorneys' fees) incurred by any of the entities or individuals named above and arising from any claim, order, proceeding, claim or judgment related to any labor liability claimed by any person by reason of the destruction, total or partial, of the Office, regardless of the cause that gave rise to it, unless such cause stems from the fraud or fault of the Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>15.2</u>** <u>Subtenant's Obligation.</u> The Subtenant undertakes to hold harmless the Sublandlord from and against any claim, demand, liability, fine, actions, proceedings, orders, decrees, judgments of any nature by or in favor of, or by any persons, and with respect to any cost, damage, loss and expense, including attorneys' fees, resulting from or related to losses of life, personal injury or property damage arising directly or indirectly from: (i) any action and/or encumbrance at the expense of the Subtenant; (ii) lack of licenses, permits, authorizations and other government documents that should have been required with respect to fit-out or remodeling works of the Office; and (iii) any accident and other event in the Office caused totally or partially by the use and occupation of the Office. The Sublandlord and its successors shall not be liable for any loss of life, property or personal damages or damage to property or business or business interruption that could be caused by any failure on the part of the Subtenant or any other tenant.

**<u>SIXTEENTH: Subleasing and Assignment of Agreement.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>16.1</u>** <u>Subleasing.</u> Without the prior consent of the Sublandlord, the Subtenant may not sublease the Office subject to this Agreement, nor create any right over it in favor of third parties, nor assign in any form its use or tenancy or the rights arising from this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>16.2</u>** <u>Termination of the Agreement.</u> Breach by the Subtenant of the provisions of this clause shall entitle the Sublandlord to terminate this Agreement early, without the need for a judicial declaration and without any liability on the part of the Sublandlord, and shall obligate the Subtenant to indemnify the landlord for the damages and losses caused by such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>16.3</u>** <u>Assignment.</u> The Sublandlord may at any time transfer or assign, in whole or in part, its rights and obligations under this Agreement without the need to obtain the Subtenant's consent.

**<u>SEVENTEENTH: Confidentiality.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>17.1</u>** <u>Confidential Information.</u> Any information and advice provided by the Parties by virtue of this Agreement, or related to the technology, experience, methodology or practices of the Parties, as well as all information contained in manuals, studies, audio, graphics and electronic materials, and any other oral or written documents or information ("Confidential Information") must be considered and treated as confidential by the receiving party, its affiliates, subsidiaries, shareholders, directors, officers and employees as if it were its own and may not be duplicated, disclosed or revealed in any form by the receiving party, its shareholders, directors, officers and employees to any third party, without the prior written authorization of the party providing it, except where disclosure of said Confidential Information is required by an administrative order issued by a competent authority, or is disclosed in connection with the forced execution of this Agreement. In these last cases, the party disclosing the Confidential Information shall be considered not to incur liability for such disclosure. The receiving party shall be obligated to take the pertinent measures to ensure the confidentiality of such Confidential Information and to prohibit and prevent unauthorized access thereto at all times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>17.2</u>** <u>Return of Confidential Information.</u> Upon termination of this Agreement for any reason, the Parties must return all Confidential Information received from the other party, as well as each and every copy obtained with respect to such information. The confidentiality and non-disclosure obligations included in this clause shall remain in force even after termination for any reason of this Agreement.

**<u>EIGHTEENTH: Arbitration.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>18.1</u>** <u>Arbitration.</u> Any doubt, disagreement or difficulty arising between the Parties on the occasion of this Agreement, its interpretation, application, execution, resolution or validity, as well as the determination of the appropriateness of the agreed or ordinary indemnifications to which its breach may give rise, including matters relating to the existence and validity of the arbitration clause and the jurisdiction of the arbitrator, shall be resolved briefly and summarily each time by an arbitrator acting as a mixed arbitrator, who shall act and proceed without procedural formalities, but shall render its ruling in accordance with the law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>18.2</u>** <u>Appointment.</u> Doubts or difficulties shall be resolved by mixed arbitration, in accordance with the Arbitration Center Regulations of the Santiago Chamber of Commerce A.G. published in the Official Gazette of June 22, 1993, and its amendments, which form an integral part of this clause and which the Parties declare to know and accept. The Parties grant a special and irrevocable power of attorney to the Santiago Chamber of Commerce A.G. so that, at the written request of any of them, it shall appoint the arbitrator from among the members of the arbitration body of the Arbitration Center of said Chamber. No appeal shall be filed against the decisions of the mixed arbitrator, and the Parties expressly waive such right. The arbitrator is expressly authorized to resolve any matter related to its competence and/or jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>18.3</u>** <u>Ordinary Courts.</u> Without prejudice to the foregoing, the Sublandlord shall always be entitled to opt for recourse to ordinary courts in order to demand payment of the Rents or to seek termination of the Agreement and restitution of the Office due to breaches by the Subtenant.

**<u>NINETEENTH: General Provisions.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>19.1</u>** <u>Communications and Notices.</u> All notices or communications to be made by the Parties by reason of this Agreement must be made in writing (email), and shall be deemed received by a Party from the moment of confirmation of its sending if sent by electronic mail; on the fifth business day following its dispatch via an internationally reputable courier service if dispatched from or to abroad; and in the case of dispatch within the national territory, on the third business day following its delivery to a nationally reputable courier service or its delivery to the postal service in the case of dispatch by certified letter.

To the Sublandlord:

Inmobiliaria e Inversiones Genau SpA.

Address: Alonso de Córdova 5320, floor 16, Las Condes.

Attention: Catalina Latorre Valdevenito and Gianfranco Bisso Minuccio.

Email: [\*\*\*] / [\*\*\*]

To the Subtenant:

Ticketplus SpA

Address: Evaristo Lillo No. 48, floor 12, Las Condes.

Attention: Chien-Fu Chen Chen

Email: [\*\*\*]

The Parties may at any time modify the names and addresses established for the delivery of notices or communications required under this Agreement, provided that the modification is duly sent to the other party in accordance with this clause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>19.2</u>** <u>Applicable Law.</u> This Agreement shall be governed by and executed in accordance with the laws of Chile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>19.3</u>** <u>Applicable Jurisdiction.</u> For all matters relating to the interpretation and performance of this Agreement, the Parties expressly submit to the agreed jurisdiction. For all effects arising from this Agreement, the Parties establish and shall establish their special domicile in the commune of Santiago, Metropolitan Region, and submit to the agreed jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>19.4</u>** <u>Expenses.</u> The expenses, duties and taxes arising from the execution of this Agreement shall be at the expense of the Subtenant.

---

| | |
|:---|:---|
| /s/ Catalina Latorre Valdevenito | /s/ Chien-Fu Chen Chen |
| Catalina Latorre Valdevenito | Chien-Fu Chen Chen |
| *On behalf of Inmobiliaria e Inversiones Genau SpA* | *On behalf of Ticketplus SpA* |

---

I authorize the signatures of Ms. CATALINA ORIANA LATORRE VALDEVENITO, I.D. No. [\*\*\*], who states she does so in the capacity indicated on behalf of the company INMOBILIARIA E INVERSIONES GENAU SpA, and Mr. CHIEN-FU CHEN CHEN, I.D. No. [\*\*\*], who states he does so in the capacity indicated on behalf of the company TICKETPLUS SpA, having examined the respective identity cards. I give faith. — Santiago, May 24, 2024.

## Exhibit 14.1

**Exhibit 14.1**

**Ticketplus Ltd.**

**Code of Ethics and Business Conduct**

1. <u>Introduction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. The Board of Directors of Ticketplus Ltd. (together with its subsidiaries, the "**Company**") has adopted this Code of Ethics and Business Conduct (this "**Code**") in order to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) promote full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with, or submits to, the U.S. Securities and Exchange Commission (the "**SEC**") and in other public communications made by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) promote compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) deter wrongdoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) ensure accountability for adherence to this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. All directors, officers and employees, including principal executive officer, principal financial officer and principal accounting officer are required to be familiar with this Code, comply with its provisions and report any suspected violations as described below in Section 6.

2. <u>Honest and Ethical Conduct</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. The Company's policy is to promote high standards of integrity by conducting its affairs honestly and ethically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. Each director, officer and employee must act with integrity and observe the highest ethical standards of business conduct in his or her dealings with the Company's customers, suppliers, partners, service providers, competitors, employees and anyone else with whom he or she has contact in the course of performing his or her job.

3. <u>Conflicts of Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. A conflict of interest occurs when an individual's private interest (or the interest of a member of his or her family) interferes, or even appears to interfere, with the interests of the Company as a whole. A conflict of interest can arise when an employee, officer or director (or a member of his or her family) takes actions or has interests that may make it difficult to perform his or her work for the Company objectively and effectively. Conflicts of interest also arise when an employee, officer or director (or a member of his or her family) receives improper personal benefits as a result of his or her position in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Loans by the Company to, or guarantees by the Company of obligations of, employees or their family members are of special concern and could constitute improper personal benefits to the recipients of such loans or guarantees, depending on the facts and circumstances. Loans by the Company to, or guarantees by the Company of obligations of, any director or executive officer are expressly prohibited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. Whether or not a conflict of interest exists or will exist can be unclear. Conflicts of interest should be avoided unless specifically authorized as described in Section 3.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. Persons other than directors and executive officers who have questions about a potential conflict of interest or who become aware of an actual or potential conflict should discuss the matter with, and seek a determination and prior authorization or approval from, their supervisor or the Chief Compliance Officer. If the Company does not have a Chief Compliance Officer, then references in this Code to Chief Compliance Officer shall be deemed to be references to the Company's Chief Financial Officer. A supervisor may not authorize or approve conflict of interest matters or make determinations as to whether a problematic conflict of interest exists without first providing the Chief Compliance Officer with a written description of the activity and seeking the Chief Compliance Officer's written approval. If the supervisor is himself involved in the potential or actual conflict, the matter should instead be discussed directly with the Chief Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. Directors and executive officers must seek determinations and prior authorizations or approvals of potential conflicts of interest exclusively from the Audit Committee, or the Board of Directors if no Audit Committee exists.

4. <u>Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. Employees, officers and directors should comply, both in letter and spirit, with all applicable laws, rules and regulations in the cities, states and countries in which the Company operates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. Although not all employees, officers and directors are expected to know the details of all applicable laws, rules and regulations, it is important to know enough to determine when to seek advice from appropriate personnel. Questions about compliance should be addressed to the Chief Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. No director, officer or employee may purchase or sell any Company securities while in possession of material non-public information regarding the Company, nor may any director, officer or employee purchase or sell another company's securities while in possession of material non-public information regarding that company. It is against Company policies and illegal for any director, officer or employee to use material non-public information regarding the Company or any other company to (a) obtain profit for himself or herself; or (b) directly or indirectly "tip" others who might make an investment decision on the basis of that information.

5. <u>Disclosure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Company's periodic reports and other documents filed with the SEC, including all financial statements and other financial information, must comply with applicable federal securities laws, Cayman Islands law and SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Each director, officer and employee who contributes in any way to the preparation or verification of the Company's financial statements and other financial information must ensure that the Company's books, records and accounts are accurately maintained. Each director, officer and employee must cooperate fully with the Company's accounting and internal audit departments, as well as the Company's independent public accountants and counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. Each director, officer and employee who is involved in the Company's disclosure process must: (a) be familiar with and comply with the Company's disclosure controls and procedures and its internal control over financial reporting; and (b) take all necessary steps to ensure that all filings with the SEC and all other public communications about the financial and business condition of the Company provide full, fair, accurate, timely and understandable disclosure.

6. <u>Reporting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Actions prohibited by this Code involving directors or executive officers must be reported to the Audit Committee, or the Board of Directors if no Audit Committee exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Actions prohibited by this Code involving any other person must be reported to the reporting person's supervisor or the Chief Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. After receiving a report of an alleged prohibited action, the Audit Committee, or the Board of Directors if no Audit Committee exists, the relevant supervisor, or the Chief Compliance Officer must promptly take all appropriate actions necessary to investigate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. All directors, officers and employees are expected to cooperate in any internal investigation of misconduct.

7. <u>Enforcement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. The Company must ensure prompt and consistent action against violations of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. If, after investigating a report of an alleged prohibited action by a director or executive officer, the Audit Committee determines that a violation of this Code has occurred, the Audit Committee will report such determination to the full Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. If, after investigating a report of an alleged prohibited action by any other person, the relevant supervisor or the Chief Compliance Officer determines that a violation of this Code has occurred, the supervisor or the Chief Compliance Officer will report such determination to the Chief Executive Officer or the General Counsel, if the Company has a General Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. Upon receipt of a determination that there has been a violation of this Code, the Board of Directors or the Chief Executive Officer or General Counsel will take such preventative or disciplinary action as it deems appropriate, including, but not limited to, reassignment, demotion, dismissal and, in the event of criminal conduct or other serious violations of the law, notification of appropriate governmental authorities.

8. <u>Waivers and Amendments.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. Each of the Audit Committee or the Board of Directors if no Audit Committee exists (in the case of a violation by a director or executive officer) and the Chief Executive Officer or General Counsel (in the case of a violation by any other person) may, in its discretion, waive any violation of this Code or make any amendment of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. Any waiver for a director or an executive officer or any amendment of this Code shall be disclosed as required by SEC rules and the applicable rules of any trading market on which the Company's securities are listed or quoted, or on the Company's website within four (4) business days following the date of such amendment or waiver.

9. <u>Prohibition on Retaliation</u>.

The Company does not tolerate acts of retaliation against any director, officer or employee who makes a good faith report of known or suspected acts of misconduct or other violations of this Code.

Adopted by the Board of Directors on May 27, 2026.

## Exhibit 21.1

**Exhibit 21.1**

**LIST OF SUBSIDIARIES**

---

| | |
|:---|:---|
| **Name of Subsidiary** | **Jurisdiction of Incorporation or Organization** |
| Ticketplus Group SpA | Chile |
| Ticketplus SpA | Chile |
| Ticketplus, Inc. | Delaware, USA |
| Ticketplus Global IP LLC | Delaware, USA |
| Ticketplus LLC | Delaware, USA |

---

## Exhibit 23.1

**Exhibit 23.1**

**<u>Consent of Independent Registered Public Accounting Firm</u>**

We hereby consent to the use in this Registration Statement on Form F-1 of our report dated January 7, 2026, except for Note 8, as to which the date is March 10, 2026, the Consolidated Statements of Profit or Loss, as to which the date is April 14, 2026, Note 14, as to which the date is April 30, 2026, and the Consolidated Statements of Financial Position, Note 2, Note 12, Note 14, Note 24 and Note 26, as to which the date is May 28, 2026, relating to the consolidated financial statements of Ticketplus Ltd. and its subsidiaries as of December 31, 2024, and for the year ended December 31, 2024, which appear in this Registration Statement.

We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ CEYA Chile

Valparaíso, Chile

May 28, 2026

## Exhibit 23.2

**Exhibit 23.2**

**<u>Consent of Independent Registered Public Accounting Firm</u>**

We hereby consent to the use in this Registration Statement on Form F-1 of our report dated March 20, 2026, except for the Statements of Financial Position, Profit or Loss, Shareholders' Equity and Cash Flows and Notes 15 and 20, as to which the date is April 9, 2026, Note 14, as to which the date is April 30, 2026, and the Statements of Financial Position, Note 2, Note 12, Note 14, Note 24 and Note 26, as to which the date is May 28, 2026, relating to the consolidated financial statements of Ticketplus Ltd. and its subsidiaries as of December 31, 2025, and for the year ended December 31, 2025, which appear in this Registration Statement.

We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ Baker Tilly Paraguay

Asunción, Paraguay

May 28, 2026

## Exhibit 99.1

**Exhibit 99.1**

**Ticketplus Ltd.**

**AUDIT COMMITTEE CHARTER**

**I.**  **<u>Purpose</u>** .

The Audit Committee (the "**Committee**") is appointed by the Board of Directors (the "**Board**") of Ticketplus Ltd. (the "**Company**") as a committee of the Board. The purpose of the Committee is to assist the Board in fulfilling its oversight responsibility relating to (i) the monitoring of the integrity of the Company's and its subsidiaries' financial statements and financial reporting process and the Company's and its subsidiaries' systems of internal accounting and financial controls, (ii) the monitoring of the effectiveness of and performance of the internal and external audit services function, (iii) the monitoring of the annual independent audit of the Company's and subsidiaries' financial statements, the engagement of the independent auditors and the evaluation of the independent auditors' qualifications, independence and performance, (iv) the compliance by the Company with legal and regulatory requirements, including the Company's disclosure of controls and procedures, (v) the compliance with the Company's Code of Ethics and Business Conduct and conduct of the Company's officers and directors, (vi) the evaluation of enterprise risk issues, and (vii) the fulfillment of the other responsibilities set out herein.

The Audit Committee shall prepare the report required by the U.S. Securities and Exchange Commission (the "**SEC**") to be included in the Company's public filing.

**II.**  **<u>Membership, Structure and Qualifications</u>** .

<u>Membership and Structure</u>. The Committee shall not consist of fewer than three (3) or more than five (5) directors. The Committee members shall be elected by the Board, upon the recommendation of the Nominating and Corporate Governance Committee, on such terms as may be specified by the Board.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of The Nasdaq Stock Market LLC and any successor thereto ("**Nasdaq**") and of Rule 10A-3(b)(1) of the U.S. Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), subject to the exemptions provided in Rule 10A-3(c) under the Exchange Act, and other applicable rules and regulations of the SEC. Additionally, no member of the Committee shall have participated in the preparation of the financial statements of the Company or any current subsidiary of the Company at any time during the preceding three (3) years and all members of the Committee must be able to read and understand fundamental financial statements, including a balance sheet, income statement, and cash flow statement.

<u>Chairperson</u>. Unless the Chairperson of the Committee (the "**Chairperson**") is elected by the full Board, the Committee members may designate a Chairperson consistent with any recommendation of the Nominating and Corporate Governance Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

<u>Financial Expert</u>. As a matter of best practices, the Committee will endeavor to have at least one of its members with the requisite qualifications to be designated by the Board as an "audit committee financial expert," as such term is defined by Item 407(d)(5) of Regulation S-K as promulgated by the SEC ("**Regulation S-K**"). The Committee shall report to the Board for further action as appropriate, including, but not limited to, a determination by the Board that the Committee membership includes or does not include one or more "audit committee financial experts" and any related disclosure to be made concerning this matter. The designation of a member of the Committee as an "audit committee financial expert" will not increase the duties, obligations or liability of the designee as compared to the duties, obligations and liability imposed on the designee as a member of the Committee and of the Board. If the Committee does not have an "audit committee financial expert," then, in accordance with Nasdaq requirements, at least one member of the Committee must be financially sophisticated, in that he or she has past employment experience in finance or accounting, requisite professional certification in accounting, or any other comparable experience or background which results in the individual's financial sophistication, including but not limited to being or having been a chief executive officer, chief financial officer, other senior officer with financial oversight responsibilities.

**III.**  **<u>Meetings and Other Actions</u>** .

All meetings of and other actions by the Committee shall be held and taken pursuant to the Amended and Restated Memorandum and Articles of Association of the Company (as may be amended from time to time, the "**Articles of Association**"), including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take action at meetings and by written resolution, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

**IV.**  **<u>Goals, Responsibilities and Authority</u>** .

The function of the Committee is to oversee the Company's management and independent accountants in the production of the Company's financial statements, as well as all controls and procedures relating thereto. The Company's management is primarily responsible for the preparation and presentation of the Company's financial statements and for maintaining appropriate systems for accounting and financial reporting principles and policies and internal controls and procedures that provide for compliance with accounting standards and applicable laws and regulations. The Company's independent accountants are primarily responsible for planning and carrying out a proper audit of the Company's annual financial statements, reviewing the Company's unaudited interim financial statements and auditing management's assessment of effectiveness of internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (the "**PCAOB**"), Cayman Islands law, and other procedures. The independent accountants are accountable to the Board and the Committee, as representatives of the Company's shareholders. The Board and the Committee have the ultimate authority and responsibility to select, evaluate and, where appropriate, replace the Company's independent accountants. For purposes of this Charter, the term "**management**" means the appropriate officers of each of the Company and its subsidiaries and the phrase "**internal accounting staff**" means the appropriate officers and employees of each of the Company and its subsidiaries.

In fulfilling their responsibilities hereunder, it is recognized that members of the Committee are not full-time employees of the Company or members of management and are not, and do not represent themselves to be, accountants or auditors by profession. As such, it is not the duty or the responsibility of the Committee or its members to conduct "field work" or other types of auditing or accounting reviews or procedures to determine if the financial statements are complete and accurate and whether they have been prepared in accordance with International Financial Reporting Standards ("**IFRS**"), as issued by the International Accounting Standards Board, or to set auditor independence standards.

Each member of the Committee shall be entitled to rely on (i) the integrity of those persons within and outside the Company and management from which it receives information, (ii) the accuracy of the financial and other information provided to the Committee absent actual knowledge to the contrary (which shall be promptly reported to the Board), and (iii) statements made by the officers and employees of the Company and its subsidiaries or other third parties as to any information technology, internal and external audit and other non-audit services provided by the independent accountants to the Company. In carrying out its responsibilities, the Committee's policies and procedures shall be adapted, as appropriate, to best react to changing markets and regulatory environments.

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Articles of Association, the Committee shall:

<u>Retention of Independent Accountants and Approval of Services</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Select or retain each year a firm or firms of independent accountants to audit the accounts and records of the Company and its subsidiaries, to approve the terms of compensation of such independent accountants (including negotiating and executing on behalf of the Company engagement letters) and to terminate such independent accountants as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Pre-approve any independent accountants' engagement to render audit and/or permissible non-audit services (including the fees charged and proposed to be charged by the independent accountants), subject to the *de minimus* exceptions under Section 10A(i)(1)(B) of the Exchange Act, and as otherwise required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Committee may delegate its pre-approval responsibilities to one (1) or more of its members. The member(s) to whom such responsibility is delegated must report, for informational purposes only, any pre-approval decisions to the Committee at its next scheduled meeting.

<u>Oversight of the Independent Accountants</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Obtain and review a report from the independent accountants at least annually regarding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the independent accountants' internal quality-control procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any material issues raised by the most recent internal quality-control review, peer review, or review
by the PCAOB, of the firm, or by any inquiry or investigation by governmental or professional authorities within the preceding five (5)
years respecting one (1) or more independent audits carried out by the firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any steps taken with regard to the issues identified in (a) or (b) above; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all relationships between the independent accountants and the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Obtain from the independent accountants annually a formal written statement of the fees billed in each of the last two (2) fiscal years for each of the following categories of services rendered by the independent accountants:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the audit of the Company's annual financial statements and the reviews of the financial statements
included in the Company's interim reports or services that are normally provided by the independent accountants in connection with
statutory or regulatory filings or engagements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that are reasonably related to the performance of the audit or review of the Company's financial
statements, in the aggregate and by each service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) tax compliance, tax advice and tax planning services, in the aggregate and by each service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all other products and services rendered by the independent accountants, in the aggregate and by each
service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Evaluate the qualifications, performance and independence of the independent accountants, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) evaluating the performance of the lead (or coordinating) audit partner, and the quality and depth of the
professional staff assigned to the Company and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) considering whether the accountant's quality controls are appropriate and adequate in light of the
standards and requirements established by the PCAOB and under applicable law at such time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) considering whether the provision of permitted non-audit services is compatible with maintaining the accountant's
independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Consider the opinions of management and the internal accounting staff in connection with the foregoing responsibilities. The Committee shall present its conclusions with respect to the independent accountants to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Monitor the rotation required by Section 10A(j) of the Exchange Act of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Oversee compliance with the following guidelines relating to the Company's hiring of employees or former employees of the independent accountants:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no member of the audit team that is auditing the Company can be hired by the Company in a financial reporting
oversight role (as defined in the SEC's Regulation S-X) for a period of one (1) year following association with that audit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's Chief Financial Officer shall report annually to the Committee the profile of the
preceding year's hires from the independent accountants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Consider the effect on the Company of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any changes in accounting principles or practices proposed by management or the independent accountants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any changes in service providers, such accountants, that could impact the Company's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any changes in schedules (such as fiscal or tax year-end changes) or structures or transactions that require
special accounting activities, services or resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Review any presentations or reports prepared by the independent accountants with respect to any applicable tax matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Annually review a formal written statement from the independent accountants delineating all relationships between the independent accountants and the Company, consistent with applicable requirements and standards of the SEC and the PCAOB, and discuss with the independent accountants their methods and procedures for ensuring independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Evaluate the efficiency and appropriateness of the services provided by the independent accountants, including any significant difficulties with the audit or any restrictions on the scope of their activities or access to required records, data and information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Interact with the independent accountants, including reviewing and, where necessary, resolving any problems or difficulties the independent accountants may have encountered in connection with the annual audit or otherwise, any management letters provided to the Committee and the Company's responses. Such review shall address any difficulties encountered in the course of the audit work, including any restrictions on the scope of activities or access to required information, any disagreements that have arisen between management and the independent accountants regarding financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Review with the independent accountants the effect of regulatory and accounting initiatives, as well as off-balance sheet structures, on the financial statements of the Company.

<u>Financial Statements and Disclosure Matters</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Review and discuss with management and the independent accountants the annual audited financial statements, including disclosures made in management's discussion and analysis of financial condition and results of operations, and recommend to the Board whether the audited financial statements should be included in the Company's Annual Report on Form 20-F.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Review and discuss with management and the independent accountants the Company's interim financial statements, including disclosures made in management's discussion and analysis of financial condition and results of operations, prior to the filing of its reports on Form 6-K, including the results of the independent accountants' reviews of the interim financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Review with the Company's Chief Executive Officer, Chief Financial Officer and independent accountants, the adequacy and effectiveness of the Company's and its subsidiaries' internal control over financial reporting and review periodically, but in no event less frequently than semiannually, management's conclusions about the effectiveness of such internal control over financial reporting, including any significant deficiencies and material weaknesses in, or material non-compliance with, such internal control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Review with the Company's Chief Executive Officer, Chief Financial Officer and independent accountants, the adequacy and effectiveness of the Company's and its subsidiaries' disclosure controls and procedures and review periodically, but in no event less frequently than semiannually, management's conclusions about the effectiveness of such disclosure controls and procedures, including any significant deficiencies in, or material non-compliance with, such controls and procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Review disclosures made to the Committee by the Company's Chief Executive Officer and Chief Financial Officer, or persons performing similar roles, during their certification process for the Company's Annual Report on Form 20-F and reports on Form 6-K concerning any significant deficiencies in the design or operation of disclosure controls and procedures and, when applicable, internal control over financial reporting, or material weaknesses in such control, and any fraud involving management or other employees who have a significant role in the Company's disclosure controls and procedures and internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Review and discuss the types of information to be disclosed and the types of presentation to be made in connection with earnings releases by the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. Review and discuss the types of financial and non-financial information and earning guidance to be provided to analysts and ratings agencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. Meet with the Company's independent accountants at least four times during each fiscal year, including private meetings, and review written materials prepared by the independent accountants, as appropriate. At these meetings, the Committee shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) review the arrangements for and the scope of the annual audit and any special audits
or other special permissible services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) review the Company's financial statements and to discuss any matters of concern
arising in connection with audits of such financial statements, including any adjustments to such statements recommended by the independent
accountants or any other results of the audits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) consider and review, as appropriate and in consultation with the independent accountants,
the appropriateness and adequacy of the Company's financial and accounting policies, internal control over financial reporting and,
as appropriate, the internal controls of key service providers, and to review management's responses to the independent accountants'
comments relating to those policies, procedures and controls, and to take any necessary action in light of material control deficiencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) review with the independent accountants their opinions as to the fairness of the
financial statements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) review and discuss semiannual reports from the independent accountants relating
to: (1) all critical accounting policies and practices to be used; (2) all alternative treatment of financial information within IFRS
that have been discussed with management, ramifications of the use of such alternative disclosures and treatments and the treatment preferred
by the independent accountants; and (3) other material written communications between the independent accountant and management, such
as any management letter or schedule of unadjusted differences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. Prepare the report required by the SEC to be included in the Company's public filing.

<u>Compliance Oversight</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. Administer the following procedures relating to the receipt, retention and treatment of complaints received by the Company regarding questionable accounting, internal accounting controls over financial reporting or auditing matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall forward to the Committee any complaints or concerns that it has
received regarding questionable financial statement disclosures, accounting, internal accounting controls or auditing matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall establish and publish on its website an e-mail address for receiving
anonymous complaints or concerns related to questionable financial statement disclosures, accounting, internal accounting controls or
auditing matters, provided that the Company may engage the services of a third-party service provider to receive such complaints on behalf
of the Company via telephone, email or other appropriate method;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any employee of the Company may submit, on a confidential, anonymous basis if the
employee so desires, any concerns regarding questionable financial statement disclosures, accounting, internal accounting controls or
auditing matters by setting forth such concerns in writing and forwarding them in a sealed envelope to the Chairperson of the Committee,
such envelope to be labeled with a legend such as "To be opened by the Committee only" (employees may deposit such envelope
in the Company's internal mail system or deliver it by hand to a member of the Committee and if an employee would like to discuss
any matter with the Committee, the employee should indicate this in the submission and include a telephone number at which he or she might
be contacted if the Committee deems it appropriate);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Committee shall review and consider any such complaints and concerns that it has
received and take any action that it deems appropriate in order to respond thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Committee may request special treatment for any complaint or concern, including
the retention of outside counsel or other advisors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Committee shall retain any such complaints or concerns for a period of no less
than five (5) years.

The Committee shall annually reassess the effectiveness of the procedures described immediately above and modify them as necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. The Committee will be designated as and serve as the Qualified Legal Compliance Committee for the Company in accordance with the provisions of Section 307 of the U.S. Sarbanes-Oxley Act of 2002. Upon receipt of a report of evidence of a material legal violation, the Committee will notify the Board of such report, investigate and recommend appropriate measure to the Board. If the Company does not appropriately respond, the Committee may take further appropriate action, including notification to the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27. Review with management or any external counsel as the Committee considers appropriate, any legal matters (including the status of pending litigation) that may have a material impact on the Company and any material reports or inquiries from regulatory or governmental agencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28. Review with management the adequacy and effectiveness of the Company's procedures to ensure compliance with its legal and regulatory responsibilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29. Oversee compliance with the Company's Code of Ethics and Business Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30. Discuss with management, the independent accountants, outside counsel, as appropriate, and, in the judgment of the Committee, such special counsel, separate accounting firm and other consultants and advisors as the Committee deems appropriate, any correspondence with regulators or governmental agencies and any published reports which raise material issues regarding the Company's financial statements, accounting policies or internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31. Obtain reports from management, the internal or external auditor or internal or external audit service provider, as the case may be, and the independent auditor regarding compliance with applicable legal and regulatory requirements.

<u>Oversight of Company's Internal And External Audit Function</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32. The internal and external auditor or internal and external audit service provider, as the case may be, shall report periodically to the Committee regarding any significant deficiencies in the design or operation of the Company's and its subsidiaries' internal control over financial reporting, material weaknesses in the internal control over financial reporting and any fraud (regardless of materiality) involving persons having a significant role in the internal control over financial reporting, as well as any significant changes in internal control over financial reporting implemented by management during the most recent reporting period of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33. Discuss with management, the internal and external auditor or internal and external audit service provider, as the case may be, and the independent accountant the Company's major risk exposures (whether financial, operations or both) and the steps management has taken to monitor and control such exposures, including the Company's risk assessment and risk management policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34. With respect to any internal and external audit services that may be outsourced, engage, evaluate and terminate internal and external audit service providers and approve fees to be paid to such internal and external audit service providers.

<u>Financial Oversight</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35. Review and approve decisions by the Company and its subsidiaries to enter into derivative transactions (including, but limited to, swaps, put and call options or combinations thereof, caps, floors, collars, and forward or spot exchanges) and related matters, as appropriate, as well as non-cleared swaps that are exempt from the clearing and trade execution requirements established under applicable federal law, rules and regulations, including swaps that are entered into in reliance upon the "end-user exceptions" to the mandatory execution and clearing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations. The Committee may review and approve swap transactions submitted to it by management on (a) an individual transaction basis or (b) a blanket basis, with respect to all non-cleared swaps that are exempt from the federal clearing and trade execution requirements, which approval must be reviewed at least annually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36. Periodically review, at least on an annual basis, or more often (particularly in the event of a material change in hedging strategy) and approve the Company's policies for the use of swaps that are entered into in reliance upon the end-user exceptions.

<u>Other</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37. Prepare the disclosure required by Item 407(d)(3)(i) of Regulation S-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38. Report its activities to the Board on a regular basis and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39. Perform an annual self-evaluation of the Committee's performance and annually review and reassess the adequacy of and, if appropriate, propose to the Board, any desired changes in, this Charter, all to supplement the oversight authority by the Nominating and Corporate Governance Committee with respect to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40. The Committee shall have such further responsibilities as are given to it from time to time by the Board. The Committee shall consult, on an ongoing basis, with management, the independent accountants and counsel as to legal or regulatory developments affecting its responsibilities, as well as relevant tax, accounting and industry developments.

The foregoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

**V.**  **<u>Additional Resources</u>** .

The Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff and also shall have the right to hire independent experts, lawyers and other consultants to assist and advise the Committee in connection with its responsibilities. The Committee shall also be given the resources, as determined by the Committee, for payment of (i) compensation to any registered independent public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company, (ii) compensation to any independent experts, lawyers and other consultants hired to assist and advise the Committee in connection with its responsibilities, and (iii) ordinary administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. The Committee shall keep the Company's Chief Financial Officer advised as to the general range of anticipated expenses for outside consultants, and shall obtain the concurrence of the Board in advance for any expenditures.

**VI.**  **<u>Amendments</u>** .

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

**VII.**  **<u>Disclosure of Charter</u>** .

This Charter will be made available on the Company's website at "https://www.ticketplus.com".

Adopted by the Board of Directors on May 27, 2026.

## Exhibit 99.2

**Exhibit 99.2**

**TICKETPLUS LTD.**

**COMPENSATION COMMITTEE CHARTER**

**I.**  **<u>Purpose</u>** .

The Compensation Committee (the "**Committee**") is established by the Board of Directors (the "**Board**") of Ticketplus Ltd. (the "**Company**") as a committee of the Board. The purpose of the Committee is to assist the Board in fulfilling its oversight responsibilities related to the Company's compensation structure and compensation, including equity compensation, and other remunerations paid by the Company.

The Committee has overall responsibility for (i) reviewing and approving the remuneration of the Company's Chief Executive Officer, Chief Financial Officer and any other executive officers that serve in executive officer capacities for the Company, (ii) evaluating and making recommendations to the Board regarding the compensation of the directors of the Company; (iii) evaluating and making recommendations to the Board regarding equity-based and incentive-compensation plans, policies and programs that are subject to Board approval; and (iv) the fulfillment of the other responsibilities set out herein.

**II.**  **<u>Membership, Structure and Qualifications</u>** .

<u>Membership and Structure</u>. The Committee shall consist of three (3) or more independent directors. The Committee members shall be elected by the Board, upon the recommendation of the Nominating and Corporate Governance Committee of the Board, on such terms as may be specified by the Board.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of The Nasdaq Stock Market LLC and any successor thereto ("**Nasdaq**") and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "**SEC**"). In addition, each member of the Committee also shall satisfy all requirements necessary from time to time to be "non-employee directors" under Rule 16b-3 of the U.S. Exchange Act of 1934, as amended.

<u>Chairperson</u>. Unless the Chairperson of the Committee (the "**Chairperson**") is elected by the full Board, the Committee members may designate a Chairperson consistent with any recommendation of the Nominating and Corporate Governance Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

**III.**  **<u>Meetings and Other Actions</u>** .

All meetings of and other actions by the Committee shall be held and taken pursuant to the Amended and Restated Memorandum and Articles of Association of the Company (as may be amended from time to time, the "**Articles of Association**"), including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take action at meetings and by written resolution, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

**IV.**  **<u>Goals, Responsibilities and Authority</u>** .

The following are the general goals, responsibilities and authority of the Committee and are set forth only for its guidance. The Committee, however, may diverge from these responsibilities and/or may assume such other responsibilities as the Board may delegate from time to time and/or as the Committee may deem necessary or appropriate from time to time in performing its functions in accordance with the Articles of Association and other governance documents of the Company and with applicable law (it being understood that the Committee may condition its approval of any compensation on Board ratification to the extent so required to comply with applicable tax law).

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Articles of Association, the Committee shall:

<u>Executive Compensation</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Review from time to time, modify if necessary, and approve the Company's corporate goals and objectives relevant to compensation and the Company's executive compensation structure and compensation range to ensure that it is designed to achieve the objectives of rewarding the Company's executive officers appropriately for their contributions to corporate growth and profitability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Evaluate the Chief Executive Officer's performance in light of such goals and objectives and, either as a Committee or together with the other independent directors (as directed by the Board), determine and approve the Chief Executive Officer's compensation based on this evaluation. The Chief Executive Officer may not be present during voting or deliberations on his or her compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Upon the engagement of and annually thereafter, determine and approve the compensation paid to the Company's Chief Financial Officer and any other executive officers that serve in executive officer capacities for the Company.

<u>Director Compensation</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Select peer groups of companies that shall be used for purposes of determining competitive director compensation packages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Periodically evaluate and make recommendations to the Board concerning the reimbursement of directors' expenses, if any, for attendance of each meeting of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Periodically evaluate and make recommendations to the Board concerning the total compensation package for directors including, without limitation, the annual retainer fee, the meeting fee, incentives, equity-based compensation and other benefits paid to directors, taking into account the compensation of directors at selected peer groups of companies. The Committee shall recommend to the Board any adjustments in director compensation that the Committee considers appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Recommend to the Board the terms and awards of any share compensation for members of the Board.

<u>Long-Term Incentive Plans</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Approve all long-term incentive awards for the executive officers of the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Periodically evaluate (and approve any proposed amendments to) the terms and administration of the Company's and its subsidiaries' annual and long-term incentive plans to assure that they are structured and administered in a manner consistent with the Company's and its subsidiaries' goals and objectives as to participation in such plans, target annual incentive awards, corporate financial goals, actual awards paid to the executive officers of the Company's subsidiaries, and total funds reserved for payment under the compensation plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Determine when it is necessary (based on advice of counsel) or otherwise desirable: (a) to modify, discontinue or supplement any such plans; or (b) to submit such amendment or adoption to a vote of the full Board and/or the Company's shareholders to the extent required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Evaluate and make recommendations to the Board concerning the adoption of any new equity-based and incentive-compensation plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Oversee the administration of any equity incentive plans of the Company in accordance with their terms, construe all terms, provisions, conditions and limitations of such plan and make factual determinations required for the administration of such plans. The Committee may amend or terminate such plans at any time, subject to the terms of the plans.

<u>Compensation Advisers</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. In its sole discretion, retain or obtain the advice of a compensation consultant, independent legal counsel or other adviser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Have the direct responsibility for the appointment, compensation and oversight of the work of any compensation consultant, independent legal counsel or other adviser retained by the Committee. The Company must provide for appropriate funding, as determined by the Committee, for payment of reasonable compensation to a compensation consultant, independent or legal counsel that is not independent or any other adviser retained by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Prior to retaining or obtaining any compensation consultant, independent legal counsel or other adviser (other than in-house legal counsel), the Committee must conduct an independence assessment of such compensation consultant, legal counsel or other adviser, including the consideration of all relevant factors to that person's independence from management. Such factors include, but are not limited to, the following: (a) the provision of other services to the Company by the person that employs the compensation consultant, legal counsel or other adviser; (b) the amount of fees received from the Company by the person that employs the compensation consultant, legal counsel or other adviser, as a percentage of the total revenue of the person that employs the compensation consultant, legal counsel or other adviser; (c) the policies and procedures of the person that employs the compensation consultant, legal counsel or other adviser that are designed to prevent conflicts of interest; (d) any business or personal relationship of the compensation consultant, legal counsel or other adviser with a Committee member; (e) any shares of the Company owned by the compensation consultant, legal counsel or other adviser; and (f) any business or personal relationship of the compensation consultant, legal counsel, other adviser or the person employing the adviser with an executive officer of the Company. Only after the Committee has considered the preceding independence factors, the Committee may select or receive advice from any compensation advisor they prefer, including those who are not independent. The Committee is not required to conduct any independence assessment if, pursuant to Item 407 of Regulation S-K as promulgated by the SEC ("**Regulation S-K**"), disclosure of the engagement of such compensation consultant, legal counsel or other adviser is not required.

<u>Other</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Fulfill any disclosure, reporting or other requirements imposed on or required of the Committee by the SEC, Nasdaq or other applicable laws, rules and regulations, as the forgoing may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Review organizational and staffing matters with respect to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Prepare the disclosure required by Item 407(e)(5) of Regulation S-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Grant the right to receive indemnification and right to be paid by the Company the expenses incurred in defending any proceeding in advance to its disposition, to any employees in their capacity as officer, director, employee or agent of the Company, any of the directors of the Company and any of the Company's and its subsidiaries' executive officers to the fullest extent permitted by the Articles of Association and the Companies Act (as amended) of the Cayman Islands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Perform an annual self-evaluation of the Committee's performance and annually review and reassess the adequacy of and, if appropriate, propose to the Board, any desired changes in, the Committee's Charter, all to supplement the oversight authority by the Nominating and Corporate Governance Committee with respect to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Perform such other duties and responsibilities as may be assigned to the Committee, from time to time, by the Board of the Company and/or the Chairperson of the Board, or as designated in plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. Make regular reports to the Board and propose any necessary action to the Board. Such reports shall provide information with respect to any delegation of authority by the Committee to the Company and its subsidiaries' executive officers or to a third party.

The foregoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

**V.**  **<u>Additional Resources</u>** .

Subject to the approval of the Board, the Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff to assist and advise the Committee in connection with its responsibilities. The Committee shall keep the Company's Chief Financial Officer informed as to the general range of anticipated expenses for outside consultants.

**VI.**  **<u>Amendments</u>** .

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

**VII.**  **<u>Disclosure of Charter</u>** .

This Charter will be made available on the Company's website at "https://www.ticketplus.com".

Adopted by the Board of Directors on May 27, 2026.

## Exhibit 99.3

**Exhibit 99.3**

**TICKETPLUS LTD.**

**NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER**

**I.**  **<u>Purpose</u>** .

The Nominating and Corporate Governance Committee (the "**Committee**") is appointed by the Board of Directors (the "**Board**") of Ticketplus Ltd. (the "**Company**") as a committee of the Board. The purpose of the Committee is to assist the Board in fulfilling its oversight responsibility to assure that the Company is governed in a manner consistent with the interests of the Company's shareholders and in compliance with applicable laws, regulations, rules and orders.

The Committee has overall responsibility for: (i) identifying and evaluating individuals qualified to become members of the Board by reviewing nominees for election to the Board submitted by shareholders and recommending to the Board director nominees for election to fill any vacancies on the Board at an annual general meeting or extraordinary general meeting of shareholders, (ii) advising the Board with respect to Board organization, desired qualifications of Board members, the membership, function, operation, structure and composition of committees (including any committee authority to delegate to subcommittees), and self-evaluation and policies, (iii) advising on matters relating to corporate governance, in each case subject to the requirements of the Amended and Restated Memorandum and Articles of Association of the Company (as may be amended from time to time, the "**Articles of Association**") and monitoring developments in the law and practice of corporate governance, and (iv) approving any related party transactions.

II. <u>Membership, Structure and Qualifications</u>.

<u>Membership and Structure</u>. The Committee shall consist of three (3) or more independent directors. The Committee members shall be elected by the Board, upon the recommendation of the Committee, on such terms as may be specified by the Board.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of The Nasdaq Stock Market LLC ("**Nasdaq**") and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "**SEC**").

<u>Chairperson</u>. Unless the Chairperson of the Committee (the "**Chairperson**") is elected by the full Board, the Committee members may designate a Chairperson consistent with any recommendation of the Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

III. <u>Meetings and Other Actions</u>.

All meetings of and other actions by the Committee shall be held and taken pursuant to the Articles of Association, including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take actions at meetings and by written resolution, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

In the event that the Committee's Chairperson is unable to perform any of his or her functions or obligations hereunder, the Chairperson of the Company's Compensation Committee is hereby authorized and directed to act in the place and stead of the Chairperson of this Committee and fulfill any and all functions or obligations that would otherwise be the responsibility of the Chairperson of this Committee, without any further action or authorization by this Committee.

IV. <u>Goals, Responsibilities and Authority</u>.

The following are the general goals, responsibilities and authority of the Committee and are set forth only for its guidance. The Committee, however, may diverge from these responsibilities and/or may assume such other responsibilities as the Board may delegate from time to time and/or as the Committee may deem necessary or appropriate from time to time in performing its functions in accordance with the Articles of Association and other governance documents of the Company and with applicable law.

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Articles of Association, the Committee shall:

<u>Nominating Directors</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Evaluate periodically the desirability of and recommend to the Board any changes in the size and composition of the Board or the qualifications for Board membership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Select and evaluate nominated directors, nominated either by the Board or the shareholders, in accordance with the general and specific considerations set forth 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;(a) <u>General Considerations</u>*.* The Board shall be comprised of at least enough independent directors to comply with Nasdaq requirements as well as applicable rules and regulations of the SEC (each such independent director, an "**Independent Director**" and collectively, the "**Independent Directors**"). In making its recommendations, the Committee may consider some or all of the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. the candidate's judgment, skill, experience with other organizations of comparable purpose, complexity and size, and subject to similar legal restrictions and oversight;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. the interplay of the candidate's experience with the experience of other Board members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. the extent to which the candidate would be a desirable addition to the Board and any committee 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;4. whether or not the person has any relationships that might impair his or her independence, including, but not limited to, business, financial or family relationships with the Company's management; 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;5. the candidate's ability to contribute to the effective management of the Company, taking into account the needs of the Company and such factors as the individual's experience, perspective, skills and knowledge of the industries in which the Company's subsidiaries operate.

&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>Specific Considerations</u>. In addition to the foregoing general considerations, the Committee shall develop, reevaluate at least annually and modify as appropriate a set of specific considerations outlining the skills, experiences (whether in business or in other areas such as public service, academia or scientific communities), particular areas of expertise, specific backgrounds, and other characteristics for which there is a specific need on the Board and which would enhance the effectiveness of the Board and its committees given its current composition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Evaluate each new director candidate and each incumbent director before recommending that the Board nominate or re-nominate such individual for election or reelection (or that the Board elect such individual on an interim basis) as a director based upon the extent to which such individual satisfies the general criteria above and will contribute significantly to satisfying the overall mix of specific criteria identified above. Each decision to re-nominate an incumbent director should be based upon a careful consideration of such individual's contributions, including the value of his or her experience as a director of the Company, the availability of new director candidates who may offer unique contributions and the Company's changing needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Seek to identify potential director candidates who will strengthen the Board and will contribute to the overall mix of considerations identified above. This process should include establishing procedures for soliciting and reviewing potential nominees from directors and shareholders and for notifying those who suggest nominees of the outcome of such review. The Committee shall have sole authority to retain and terminate any third-party search firms to be used to identify director candidates, including sole authority to approve any such search firm's fees and other terms of retention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Submit to the Board the candidates for director to be recommended by the Board for election at an annual general meeting or extraordinary general meeting of shareholders and to be added to the Board at any other times due to any expansion of the Board, director resignations or retirements or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. In the event of a vacancy on the Board, following determination by the Board that such vacancy shall be filled, identify candidates for director qualified to fill such vacancy that satisfies the general criteria above.

<u>Board of Directors</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Monitor performance of the Board and its individual members based upon the general criteria and the specific criteria applicable to the Board and each of its members. If any serious issues are identified with any director, work with such director to resolve such issues or, if necessary, seek such director's resignation or recommend to the Board such person's removal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Review director compensation process, self-evaluation and policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Develop and periodically evaluate initial orientation guidelines and continuing education guidelines for each member of the Board and each member of each committee thereof regarding his or her responsibilities as a director generally and as a member of any applicable committee of the Board, and monitor and evaluate annually (and at any additional time a new member joins the Board or any committee thereof).

<u>Board Committees</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Review and evaluate at least annually the adequacy of the Committee's own performance and Charter and provide a report on such evaluation and recommended proposed changes to the Charter to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Evaluate at least annually the performance, authority, operations, charter and composition of each standing or *ad hoc* committee of the Board (including any authority of a committee to delegate to a subcommittee) and the performance of each committee member and recommend any changes considered appropriate in the authority, operations, charter, number or membership of each committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Submit to the Board annually (and at any additional times that any committee members are to be selected) recommendations regarding candidates for membership on each committee of the Board.

<u>Evaluation of and Succession Planning for Executive Officers</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Assist the Board in evaluating the performance of and other factors relating to the retention of executive officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Develop and periodically review and revise as appropriate a management succession plan and related procedures. Consider and recommend to the Board candidates for successor to executive officers.

<u>Corporate Governance</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Develop, monitor and make recommendations to the Board on matters of Company policies and practices relating to corporate governance, including the Company's corporate governance guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Review and make recommendations to the Board regarding proposals of shareholders that relate to corporate governance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Oversee the evaluation of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Review and approve any related party transactions.

<u>Other Matters</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Perform such other duties and responsibilities as may be assigned to the Committee, from time to time, by the Board and/or the Chairperson of the Board, or as designated in the Articles of Association or by applicable law.

The forgoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

V. <u>Additional Resources</u>.

Subject to the approval of the Board, the Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff and also shall have the right to hire independent experts, lawyers and other consultants to assist and advise the Committee in connection with its responsibilities. The Committee shall keep the Company's Chief Financial Officer informed as to the general range of anticipated expenses for outside consultants, and shall obtain the approval of the Board in advance for any expenditures.

VI. <u>Amendments</u>.

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

VII. <u>Disclosure of Charter</u>.

This Charter will be made available on the Company's website at "https://www.ticketplus.com".

Adopted by the Board of Directors on May 27, 2026.

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**F-1**

**Ticketplus Ltd.**

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **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 | Equity | Ordinary Shares, $0.0001 par value | (1) | 457(o) |  | $| $28750000.00 | 0.0001381 | $3970.37 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $28750000.00 |  | 3970.37 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  | 0.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $3970.37 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). The registrant may increase or decrease the size of the offering prior to effectiveness. Includes additional Ordinary Shares which may be issued upon the exercise of a 45-day option granted to the underwriters to cover over-allotments, if any, up to 15% of the total number of securities offered. Pursuant to Rule 416 under the Securities Act, the securities being registered hereunder include such indeterminate number of additional Ordinary Shares as may be issued after the date hereof as a result of share splits, share dividends or similar transactions.