# EDGAR Filing Document

**Accession Number:** 0001894693
**File Stem:** 0001213900-25-104708
**Filing Date:** 2025-10
**Character Count:** 180042
**Document Hash:** efa78ac4e5226f3370f0410ea4824232
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-104708.hdr.sgml**: 20251031

**ACCESSION NUMBER**: 0001213900-25-104708

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251031

**DATE AS OF CHANGE**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SaverOne 2014 Ltd.
- **CENTRAL INDEX KEY:** 0001894693
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41387
- **FILM NUMBER:** 251440910

**BUSINESS ADDRESS:**
- **STREET 1:** EM HAMOSHAVOT RD.
- **STREET 2:** 94
- **CITY:** PETAH TIKVAH
- **STATE:** L3
- **ZIP:** 49130
- **BUSINESS PHONE:** 972-3-9094177

**MAIL ADDRESS:**
- **STREET 1:** EM HAMOSHAVOT RD.
- **STREET 2:** 94
- **CITY:** PETAH TIKVAH
- **STATE:** L3
- **ZIP:** 49130

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 6-K**

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of October 2025 (Report No. 3)

Commission file number: 001-41387

**<u>SaverOne 2014 Ltd.</u>**

(Translation of registrant's name into English)

**Em Hamoshavot Rd. 94**

**Petah Tikvah, Israel**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

On October 30, 2025 (the *"**Effective Date**"*), Saverone 2014 Ltd., a company established in the State of Israel (the *"**Company**"*), entered into a Standby Equity Purchase Agreement (the *"**SEPA**"*) with YA II PN, Ltd. a Cayman Islands exempt limited partnership ("***Yorkville***"), a fund managed by Yorkville Advisors Global, LP, headquartered in Mountainside, New Jersey.

Pursuant to the SEPA, subject to the terms and conditions set forth therein, the Company has the right, but not the obligation, to issue (each such issuance, an "***Advance***") to Yorkville, and Yorkville has the obligation to subscribe for the Company's American Depository Shares (the "**ADSs**"), each representing 3,600 ordinary shares of the Company, par value NIS 0.01 per share for an aggregate subscription amount of up to $50 million (the "***Commitment Amount***"), at any time from Effective Date until October 30, 2028, unless earlier terminated pursuant to the SEPA (the "***Commitment Period***"), by delivering written notice to Yorkville (each, an "***Advance Notice***").

Under the SEPA, Yorkville advanced to the Company the principal amount of $1,500,000 (the "***Pre-Paid Advance***"), which is evidenced by a promissory note (the "***Promissory Note***"). The Promissory Note (i) bears an interest at a rate of 8.0%, (ii) was issued with a 3% issue discount, (iii) has a maturity date of October 30, 2027, and (iv) is required to be repaid in cash in 10 equal monthly installments beginning 90 days from the issuance date. Yorkville may declare the full unpaid principal amount of the Promissory Note, together with interest and other amounts owing in respect thereof, immediately due and payable in cash upon the occurrence of certain specified events of default and mandatory prepayment events. Upon the occurrence and during the continuance of any event of default, interest will accrue on the outstanding principal balance of the Promissory Note at a rate of 18% per annum.

The SEPA does not require Yorkville to subscribe for or acquire any ADSs or Ordinary Shares under the SEPA if those Ordinary Shares, when aggregated with all other ADSs or Ordinary Shares acquired by Yorkville under the SEPA, would result in Yorkville beneficially owning more than 9.99% of the then outstanding ADSs or Ordinary Shares.

The Company undertook to pay to Yorkville a structuring fee in the amount of $25,000, and a commitment fee in an amount equal to 1.00% of the Commitment Amount (the "***Commitment Fee***"), of which (i) one-fifth (20%) of the Commitment Fee is due within 5 days of the Effective Date and (ii) within 5 days of the date upon which the Company has received aggregate Advances hereunder equal to or exceeding $10,000,000, an additional one-fifth (20%) of the Commitment Fee, and thereafter an additional one-fifth (20%) of the Commitment Fee following receipt by the Company of aggregate Advances equal to or exceeding $10,000,000, in each case by the issuance to Yorkville on the date such portion of the Commitment Fee is due of such number of ADSs that is equal to the portion of the Commitment Fee due divided by the average of the daily VWAPs of the ADSs during the 3 Trading Days immediately prior to the date such portion of the Commitment Fee is due (collectively, the "***Commitment Shares***").

Under the SEPA, the Company is required to register for resale all of the ADSs to be issued from time to time pursuant to Advances under the SEPA and the initial portion of the Commitment Shares. The Company is required to file an initial registration statement (the "***Registration Statement***") covering the resale of the relevant ADSs, as soon as reasonably practicable. The Company shall use commercially reasonable efforts to cause the initial Registration Statement to become effective within forty-five (45) calendar days of the filing date.

This Report shall not constitute an offer to sell or the solicitation to buy nor shall there be any sale of the ADSs in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The SEPA contains customary representations, warranties, conditions and indemnification obligations by each party. The representations, warranties and covenants contained in the SEPA were made only for purposes of the SEPA and as of specific dates, were solely for the benefit of the parties to such agreement and are subject to certain important limitations.

The foregoing descriptions of the SEPA and the Promissory Note, are qualified in their entirety by the terms and conditions of the SEPA and the Promissory Note which are attached as Exhibit 99.1 and 99.2 respectively, and which are incorporated herein by reference.

**<u>EXHIBIT INDEX</u>**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Standy Equity Purchase Agreement dated October 30, 2025 by and between SaverOne 2014 Ltd. and YA II PN, Ltd](ea026315001ex99-1_saverone.htm) |
| 99.2 | [Promissory Note dated October 30, 2025](ea026315001ex99-2_saverone.htm) |

---

**<u>SIGNATURES</u>**

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

---

| | | |
|:---|:---|:---|
| Date: October 31, 2025 | SAVERONE 2014 LTD. | SAVERONE 2014 LTD. |
|  | By: | /s/ Ori Gilboa |
|  | Name: | Ori Gilboa |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>STANDBY EQUITY PURCHASE AGREEMENT</u>**

**THIS STANDBY EQUITY PURCHASE AGREEMENT** (this "<u>Agreement</u>") dated as of October 30, 2025 is made by and between **YA II PN, LTD.**, a Cayman Islands exempt limited partnership (the "<u>Investor</u>"), and **SAVERONE 2014 LTD.,** a company incorporated under the laws of the State of Israel (the "<u>Company</u>"). The Investor and the Company may be referred to herein individually as a "Party" and collectively as the "Parties."

**WHEREAS**, the Parties desire that, upon the terms and subject to the conditions contained herein, the Company shall have the right to issue and sell to the Investor, from time to time as provided herein, and the Investor shall purchase from the Company, up to $50 million of the Company's American Depository Shares (the "<u>ADSs</u>"), each ADS representing 3,600 ordinary shares of the Company, par value NIS 0.01 per share (the "<u>Ordinary Shares</u>"); and

**WHEREAS**, the ADSs are listed for trading on the Nasdaq Stock Market under the symbol "SVRE;" and

**WHEREAS**, the offer and sale of the ADSs (and the underlying Ordinary Shares) issuable hereunder will be made in reliance upon Section 4(a)(2) under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the "<u>Securities Act</u>"), or upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all of the transactions to be made hereunder.

**NOW**, **THEREFORE**, the parties hereto agree as follows:

**Article I. Certain Definitions**

Capitalized terms used in this Agreement meanings ascribed to such terms in Annex I hereto, and hereby made a part hereof, or as otherwise set forth in this Agreement.

**Article II. Advances**

Section 2.01 <u>Advances; Mechanics</u>. Upon the terms and subject to the conditions of this Agreement, during the Commitment Period, the Company, at its sole and exclusive discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor shall purchase from the Company, Advance Shares by the delivery to the Investor of Advance Notices on the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Advance Notice</u>. At any time during the Commitment Period the Company may require the Investor
 to purchase Advance Shares by delivering an Advance Notice to the Investor, subject to the
 satisfaction or waiver by the Investor of the conditions set forth in Article II hereto,
 and in accordance with the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 Company shall, in its sole discretion, select the number of Advance Shares, not to exceed
 the Maximum Advance Amount (unless otherwise agreed to in writing by the Parties), it desires
 to issue and sell to the Investor in each Advance Notice and the time it desires to deliver
 each Advance Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) There
 shall be no mandatory minimum Advances and no non-usages fee for not utilizing the Commitment
 Amount or any part thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Date of Delivery of Advance Notice</u>. Advance Notices shall be delivered in accordance with
 the instructions set forth on the bottom of <u>Exhibit A</u> attached hereto. An Advance
 Notice shall be deemed delivered on (i) the day it is received by the Investor if such notice
 is received by email at or before 9:00 a.m. Eastern Time (or at such later time if agreed
 to by the Investor in its sole discretion), or (ii) the immediately succeeding day if it
 is received by email after 9:00 a.m. Eastern Time.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Advance Limitations</u>. Regardless of the number of Advance Shares requested by the Company in the
 Advance Notice, the final number of Advance Shares to be issued and sold pursuant to an Advance
 Notice shall be reduced (if at all) in accordance with each of the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Ownership Limitation; Commitment Amount</u>. At the request of the Company, the Investor shall inform
 the Company in writing of the number of shares the Investor and each of its Affiliates currently
 beneficially owns. Notwithstanding anything to the contrary contained in this Agreement,
 the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire,
 any ADSs or Ordinary Shares under this Agreement which, when aggregated with all other ADSs
 or Ordinary Shares beneficially owned by the Investor and its Affiliates (as calculated pursuant
 to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result
 in the beneficial ownership by the Investor and its Affiliates (on an aggregated basis) to
 exceed 9.99% of the then outstanding voting power or number of Ordinary Shares (the " <u>Ownership Limitation</u> "). Upon the written request of the Investor, the Company shall promptly
 confirm orally or in writing to the Investor the number of ADSs or Ordinary Shares then outstanding.
 In connection with each Advance Notice delivered by the Company, any portion of the number
 of Advance Shares that would (i) cause the Investor to exceed the Ownership Limitation or
 (ii) cause the aggregate number of Shares issued and sold to the Investor hereunder to exceed
 the Commitment Amount shall automatically be withdrawn with no further action required by
 the Company, and such Advance Notice shall be deemed automatically modified to reduce the
 number of Advance Shares requested by an amount equal to such withdrawn portion; provided
 that in the event of any such automatic withdrawal and automatic modification, the Investor
 will promptly notify the Company of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Registration Limitation</u>. In no event shall an Advance exceed the amount registered in respect of the
 transactions contemplated hereby under the Registration Statement then in effect (the " <u>Registration Limitation</u> "). In connection with each Advance Notice, any portion of an Advance
 that would exceed the Registration Limitation shall automatically be withdrawn with no further
 action required by the Company and such Advance Notice shall be deemed automatically modified
 to reduce the aggregate amount of the requested Advance by an amount equal to such withdrawn
 portion; provided that in the event of any such automatic withdrawal and automatic modification,
 the Investor will promptly notify the Company of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Home Country Practice</u>. Prior to the date hereof, the Company has taken all actions required
 pursuant to Nasdaq Rule 5615(a)(3) to duly and validly rely on the exemption for foreign
 private issuers from applicable rules and regulations of the Nasdaq by adopting the home
 country practice (the " <u>Home Country Practice</u> ") in connection with the
 transactions contemplated hereunder (including an exemption from any Nasdaq rules that would
 otherwise require seeking shareholder approval in respect of such transactions). The Company
 may issue the Advance Shares upon delivery of an Advance Notice without regard to the limitations
 imposed by Nasdaq Rule 5635(d). During the Commitment Period, the Company shall comply with
 the Home Country Practice rules and shall not voluntarily take any action to change its Home
 Country Practice or become subject to Nasdaq Rule 5635(d). The Company's practices
 in connection with the transactions contemplated hereunder are not prohibited by its home
 country's laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Volume Threshold</u>. In connection with an Advance Notice, if the total number of ADSs traded on
 the Principal Market during the applicable Pricing Period is less than the Volume Threshold,
 then the number of Advance Shares issued and sold pursuant to such Advance Notice shall be
 reduced to the greater of (a) 25% of the trading volume of the ADSs on the Principal Market
 during the Pricing Period as reported by Bloomberg L.P., or (b) the number of ADSs sold by
 the Investor during such Pricing Period, but in each case not to exceed the amount requested
 in the Advance Notice.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Minimum Acceptable Price</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) With
 respect to each Advance Notice, the Company may notify the Investor of the Minimum Acceptable
 Price with respect to such Advance by indicating a Minimum Acceptable Price on such Advance
 Notice. If no Minimum Acceptable Price is specified in an Advance Notice, then no Minimum
 Acceptable Price shall be in effect in connection with such Advance. Each Trading Day during
 a Pricing Period for which (A) with respect to each Advance Notice with a Minimum Acceptable
 Price, the VWAP of the ADSs is below the Minimum Acceptable Price in effect with respect
 to such Advance Notice, or (B) the ADSs are suspended from trading on the Principal Market
 (each such day in the foregoing clauses (A) and (B), an " <u>Excluded Day</u> "),
 shall result in an automatic reduction to the number of Advance Shares set forth in such
 Advance Notice by one third (the resulting amount of each Advance being the " <u>Adjusted Advance Amount</u> "), and each Excluded Day shall be excluded from the Pricing Period
 for purposes of determining the Market Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The
 total number of Advance Shares in respect of each Advance with any Excluded Day(s) (after
 reductions have been made to arrive at the Adjusted Advance Amount, if any) shall be automatically
 increased by such number of ADSs (the " <u>Additional Shares</u> ") equal to the
 greater of (a) the number of ADSs sold by the Investor on such Excluded Day(s), if any, or
 (b) such number of ADSs elected to be subscribed for by the Investor, and the subscription
 price per share for each Additional Share shall be equal to the Minimum Acceptable Price
 in effect with respect to such Advance Notice multiplied by 97%, provided that this increase
 shall not cause the total Advance Shares to exceed the amount set forth in the original Advance
 Notice or any limitations set forth in Section 2.01(c).

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Unconditional Contract</u>. Notwithstanding any other provision in this Agreement, the Company and the
 Investor acknowledge and agree that upon the Investor's receipt of a valid Advance
 Notice from the Company the Parties shall be deemed to have entered into an unconditional
 contract binding on both Parties for the purchase and sale of the applicable number of Advance
 Shares pursuant to such Advance Notice in accordance with the terms of this Agreement and
 (i) subject to Applicable Laws and (ii) subject to Section 3.08, the Investor may sell
 ADSs during the Pricing Period.

Section 2.02 <u>Closings</u>. The closing of each Advance and each sale and purchase of Advance Shares (each, a "<u>Closing</u>") shall take place as soon as practicable on or after each Advance Date in accordance with the procedures set forth below. The Parties acknowledge that the Purchase Price is not known at the time the Advance Notice is delivered (at which time the Investor is irrevocably bound) but shall be determined on each Closing based on the daily prices of the ADSs that are the inputs to the determination of the Purchase Price as set forth further below (provided that for the purposes of determining the daily VWAP for any Trading Day, the Parties may use only a specific period within a Trading Date upon mutual consent). In connection with each Closing, the Company and the Investor shall fulfill each of its obligations as set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;(a) On
 each Advance Date, the Investor shall deliver to the Company a written document, in the form
 attached hereto as Exhibit B (each a " <u>Settlement Document</u> "), setting forth
 the final number of Shares to be purchased by the Investor (taking into account any adjustments
 pursuant to <u>Section 2.01</u>), the Market Price, the Purchase Price, the aggregate proceeds
 to be paid by the Investor to the Company, and a report by Bloomberg, L.P. indicating the
 VWAP for each of the Trading Days during the Pricing Period (or, if not reported on Bloomberg,
 L.P., another reporting service reasonably agreed to by the parties), in each case in accordance
 with the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Promptly
 after receipt of the Settlement Document with respect to each Advance (and, in any event,
 not later than one Trading Day after such receipt), the Company will, or will cause its Depositary
 to, electronically transfer such number of Advance Shares to be purchased by the Investor
 (as set forth in the Settlement Document) by crediting the Investor's account or its
 designee's account at the Depository Trust Company (" <u>DTC</u> ") through
 its Deposit Withdrawal at Custodian System (" <u>DWAC</u> ") or by such other means
 of delivery as may be mutually agreed upon by the parties hereto, and transmit notification
 to the Investor that such share transfer has been requested. Promptly upon receipt of such
 notification, the Investor shall pay to the Company the aggregate purchase price of the Shares
 (as set forth in the Settlement Document) in cash in immediately available funds to an account
 designated by the Company in writing and transmit notification to the Company that such funds
 transfer has been requested. No fractional shares shall be issued, and any fractional amounts
 shall be rounded to the next higher whole number of shares. To facilitate the transfer of
 the ADSs by the Investor, the ADSs will not bear any restrictive legends so long as there
 is an effective Registration Statement covering the resale of such ADSs (it being understood
 and agreed by the Investor that notwithstanding the lack of restrictive legends, the Investor
 may only sell such ADSs pursuant to the Plan of Distribution set forth in the Prospectus
 included in the Registration Statement and otherwise in compliance with the requirements
 of the Securities Act (including any applicable prospectus delivery requirements) or pursuant
 to an available exemption).

&nbsp;&nbsp;&nbsp;&nbsp;(c) On
 or prior to the Advance Date, each of the Company and the Investor shall deliver to the other
 all documents, instruments and writings expressly required to be delivered by either of them
 pursuant to this Agreement in order to implement and effect the transactions contemplated
 herein.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding
 anything to the contrary in this Agreement, if on any day during the Pricing Period (i) the
 Company notifies Investor that a Material Outside Event has occurred, or (ii) the Company
 notifies the Investor of a Black Out Period, the parties agree that the pending Advance shall
 end and the final number of Advance Shares to be purchased by the Investor at the Closing
 for such Advance shall be equal to the number of ADSs sold by the Investor during the applicable
 Pricing Period prior to the notification from the Company of a Material Outside Event or
 Black Out Period.

Section 2.03 <u>Hardship</u>. In the event the Investor sells ADSs after receipt of an Advance Notice and the Company fails to perform its obligations as mandated in this Agreement after the Investor's receipt of an Advance Notice, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Article V hereto and in addition to any other remedy to which the Investor is entitled at law or in equity, including, without limitation, specific performance, it will hold the Investor harmless against any loss, claim, damage, or expense (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company and acknowledges that irreparable damage may occur in the event of any such default. It is accordingly agreed that the Investor shall be entitled to an injunction or injunctions to prevent such breaches of this Agreement and to specifically enforce (subject to Applicable Laws and the rules of the Principal Market), without the posting of a bond or other security, the terms and provisions of this Agreement.

Section 2.04 <u>Completion of Resale Pursuant to the Registration Statement</u>. The Company will be under no further obligation to maintain the effectiveness of the Registration Statement after the date on which the Investor has purchased the full Commitment Amount and has completed the subsequent resale of the full Commitment Amount pursuant to the Registration Statement. The Investor will notify the Company that all subsequent resales are completed.

Section 2.05 <u>Pre-Paid Advance</u>. Subject to the satisfaction of the conditions set forth in <u>Annex II</u> attached hereto, on or about the date hereof, the Investor shall advance to the Company $1,500,000 (the "<u>Pre-Paid Advance</u>"), which shall be evidenced by a promissory note in the form attached hereto as <u>Exhibit C</u> (the "<u>Promissory Note</u>") on such date and time as is mutually agreement upon by the Parties. Upon the issuance of the Promissory Note, the Investor shall advance to the Company the amount of the Pre-Paid Advance, less a discount in the amount equal to 3% of the amount of the Pre-Paid Advance, in immediately available funds to an account designated by the Company in writing, and the Company shall deliver the Promissory Note with a principal amount equal to the full amount of the Pre-Paid Advance, duly executed on behalf of the Company.

**Article III. Representations and Warranties of the Investor**

The Investor represents and warrants to the Company, that the following are true and correct, as of the date hereof, as of each Advance Notice Date and as of each Advance Date that:

Section 3.01 <u>Organization and Authorization</u>. The Investor is duly organized, validly existing and in good standing under the laws of the Cayman Islands and has the requisite corporate power and authority to enter into and perform its obligations under the Transaction Documents to which it is a party and to purchase or acquire the Shares in accordance with the terms hereof. The decision to invest and the execution and delivery of the Transaction Documents to which it is a party by the Investor, the performance by the Investor of its obligations hereunder and the consummation by the Investor of the transactions contemplated hereby have been duly authorized and require no other proceedings on the part of the Investor. The undersigned has the right, power and authority to execute and deliver the Transaction Documents to which it is a party and all other instruments on behalf of the Investor or its shareholders. This Agreement and the Transaction Documents to which it is a party have been duly executed and delivered by the Investor and, assuming the execution and delivery hereof and acceptance thereof by the Company, will constitute the legal, valid and binding obligations of the Investor, enforceable against the Investor in accordance with its terms.

Section 3.02 <u>Evaluation of Risks</u>. The Investor has such knowledge and experience in financial, tax and business matters as to be capable of evaluating the merits and risks of, and bearing the economic risks entailed by, an investment in the ADSs of the Company and of protecting its interests in connection with the transactions contemplated hereby. The Investor acknowledges and agrees that its investment in the Company involves a high degree of risk, and that the Investor may lose all or a part of its investment.

Section 3.03 <u>No Legal, Investment or Tax Advice from the Company</u>. The Investor acknowledges that it had the opportunity to review the Transaction Documents and the transactions contemplated by the Transaction Documents with its own legal counsel and investment and tax advisors. The Investor is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of the Company's representatives or agents for legal, tax, investment or other advice with respect to the Investor's acquisition of ADSs or Ordinary Shares hereunder, the transactions contemplated by this Agreement or the laws of any jurisdiction, and the Investor acknowledges that the Investor may lose all or a part of its investment.

Section 3.04 <u>Investment Purpose</u>. The Investor is acquiring the ADSs and the underlying Ordinary Shares for its own account, for investment purposes and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to sales registered under or exempt from the registration requirements of the Securities Act; provided, however, that by making the representations herein, the Investor does not agree, or make any representation or warranty, to hold any of the Shares for any minimum or other specific term and reserves the right to dispose of the Shares at any time in accordance with, or pursuant to, a Registration Statement filed pursuant to this Agreement or an applicable exemption under the Securities Act. The Investor does not presently have any agreement or understanding, directly or indirectly, with any Person to sell or distribute any of the Shares. The Investor is acquiring the ADSs hereunder in the ordinary course of its business. The Investor acknowledges that it will be disclosed as an "underwriter" and a "selling stockholder" in each Registration Statement and in any prospectus contained therein to the extent required by applicable law and to the extent the prospectus is related to the resale of Registrable Securities.

Section 3.05 <u>Accredited Investor</u>. The Investor is an "<u>Accredited Investor</u>" as that term is defined in Rule 501(a)(3) of Regulation D.

Section 3.06 <u>Information</u>. The Investor and its advisors (and its counsel), if any, have been furnished with all materials relating to the business, finances and operations of the Company and information the Investor deemed material to making an informed investment decision. The Investor and its advisors (and its counsel), if any, have been afforded the opportunity to ask questions of the Company and its management and have received answers to such questions. Neither such inquiries nor any other due diligence investigations conducted by such Investor or its advisors (and its counsel), if any, or its representatives shall modify, amend or affect the Investor's right to rely on the Company's representations and warranties contained in this Agreement. The Investor acknowledges and agrees that the Company has not made to the Investor, and the Investor acknowledges and agrees it has not relied upon, any representations and warranties of the Company, its employees or any third party other than the representations and warranties of the Company contained in this Agreement. The Investor understands that its investment involves a high degree of risk. The Investor has sought such accounting, legal and tax advice, as it has considered necessary to make an informed investment decision with respect to the transactions contemplated hereby.

Section 3.07 <u>Not an Affiliate</u>. The Investor is not an officer, director or a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with the Company or any "<u>Affiliate</u>" of the Company (as that term is defined in Rule 405 promulgated under the Securities Act).

Section 3.08 <u>No Prior Short Sales</u>. At no time prior to the date of this Agreement has the Investor, its sole member, any of their respective officers, or any entity managed or controlled by the Investor or its sole member, engaged in or effected, in any manner whatsoever, directly or indirectly, for its own principal account, any (i) "short sale" (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the ADSs or (ii) hedging transaction, which establishes a net short position with respect to the ADSs that remains in effect as of the date of this Agreement.

Section 3.09 <u>General Solicitation</u>. Neither the Investor, nor any of its affiliates, nor any person acting on its or their behalf, has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the ADSs by the Investor.

Section 3.10 <u>Resale of Shares</u>. The Investor represents, warrants and covenants that it will resell the Shares only pursuant to the Registration Statement in which the resale of such Shares is registered under the Securities Act, in a manner described under the caption "Plan of Distribution" in such Registration Statement, and in a manner in compliance with all applicable federal and state securities laws, rules and regulations, or pursuant to an exception for the registration provisions of the Securities Act, if applicable.

**Article IV. Representations and Warranties of the Company**

Except as set forth (i) under the corresponding section of the Disclosure Schedules, which Disclosure Schedules shall be deemed a part hereof and to qualify any representation or warranty made herein to the extent of such disclosure, or (ii) in the SEC Documents, the Company represents and warrants to the Investor that, as of the date hereof, each Advance Notice Date and each Advance Date (other than representations and warranties which address matters only as of a certain date, which shall be true and correct as written as of such certain date):

Section 4.01 <u>Organization and Qualification</u>. Each of the Company and its Subsidiaries is an entity duly organized and validly existing under the laws of their respective jurisdiction of organization, and has the requisite power and authority to own its properties and to carry on its business as now being conducted. Each of the Company and its Subsidiaries is duly qualified to do business and is in good standing (to the extent applicable) in every jurisdiction in which the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect.

Section 4.02 <u>Authorization, Enforcement, Compliance with Other Instruments.</u> The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and the other Transaction Documents to which it is a party and to issue the Shares in accordance with the terms hereof and thereof. The execution and delivery by the Company of this Agreement and the other Transaction Documents to which it is a party, and the consummation by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the ADSs) have been or (with respect to consummation) will be duly authorized by the Company's board of directors and no further consent or authorization will be required by the Company, its board of directors its shareholders, any court or other federal, state, local or other governmental authority or other Person, other than filings required by the Israeli Securities Authority, the Tel Aviv Stock Exchange (the "TASE") and the Israeli Registrar of Companies and (vi) the approval of the TASE for the issuance of the ADSs (collectively, the "Required Approvals"). This Agreement and the other Transaction Documents to which the Company is a party have been (or, when executed and delivered, will be) duly executed and delivered by the Company and, assuming the execution and delivery thereof and acceptance by the Investor, constitute (or, when duly executed and delivered, will be) the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or other laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies and except as rights to indemnification and to contribution may be limited by federal or state securities law.

Section 4.03 <u>Authorization of the Shares</u>. The Shares to be issued under this Agreement have been, or with respect to Shares to be purchased by the Investor pursuant to an Advance Notice, will be, when issued and delivered pursuant to the terms approved by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, duly and validly authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim, including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act. The Shares, when issued, will conform to the description thereof set forth in or incorporated into the Prospectus.

Section 4.04 <u>No Conflict</u>. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the ADSs) will not (i) result in a violation of the articles of incorporation or other organizational documents of the Company or its Subsidiaries (with respect to consummation, as the same may be amended prior to the date on which any of the transactions contemplated hereby are consummated), (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or its Subsidiaries is a party, or (iii) subject to the Required Approvals, result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or its Subsidiaries or by which any property or asset of the Company or its Subsidiaries is bound or affected except, in the case of clause (ii) or (iii) above, to the extent such violations that would not reasonably be expected to have a Material Adverse Effect.

Section 4.05 <u>SEC Documents; Financial Statements</u>. Since October __ 2024, the Company has timely filed (giving effect to permissible extensions in accordance with Rule 12b-25 under the Exchange Act) all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant to the Exchange Act, including, without limitation, the Current Report, each Registration Statement, as the same may be amended from time to time, the Prospectus contained therein and each Prospectus Supplement thereto, and all information contained in such filings and all documents and disclosures that have been or may in the future be incorporated by reference therein (all such documents hereinafter referred to as the "<u>SEC Documents</u>"). The Company has delivered or made available to the Investor through the SEC's website at http://www.sec.gov, true and complete copies of the SEC Documents, as applicable. Except as disclosed in amendments or subsequent filings to the SEC Documents, as of its filing date (or, if amended or superseded by a filing prior to the date hereof, on the date of such amended or superseded filing), each of the SEC Documents complied in all material respects with the requirements of the Exchange Act or the Securities Act, as applicable, and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and did not contain any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

Section 4.06 <u>Financial Statements</u>. The consolidated financial statements of the Company included or incorporated by reference in the SEC Documents, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and the Subsidiaries as of the dates indicated and the consolidated results of operations, cash flows and changes in stockholders' equity of the Company for the periods specified and have been prepared in compliance with the requirements of the Securities Act and Exchange Act and in conformity with international reporting standards as issued by the International Accounting Standards Board ("<u>IFRS</u>") applied on a consistent basis (except for (i) such adjustments to accounting standards and practices as are noted therein, (ii) in the case of unaudited interim financial statements, to the extent such financial statements may not include footnotes required by IFRS or may be condensed or summary statements and (iii) such adjustments which are not material, either individually or in the aggregate) during the periods involved; the other financial and statistical data with respect to the Company and the Subsidiaries contained or incorporated by reference in the SEC Documents are accurately and fairly presented and prepared on a basis consistent with the financial statements and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the SEC Documents that are not included or incorporated by reference as required; the Company and the Subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations), not described in the SEC Documents (excluding the exhibits thereto); and all disclosures contained or incorporated by reference in the SEC Documents regarding "non-IFRS financial measures" (as such term is defined by the rules and regulations of the SEC) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the SEC Documents fairly presents the information called for in all material respects and has been prepared in accordance with the SEC's rules and guidelines applicable thereto.

Section 4.07 <u>Registration Statement and Prospectus</u>. The Company and the transactions contemplated by this Agreement meet the requirements for and comply with the conditions for the use of Form F-1 under the Securities Act. Each Registration Statement and the offer and sale of Shares as contemplated hereby, if and when filed, will meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or other documents that are required to be described in a Registration Statement or a Prospectus, or any amendment or supplement thereto, or to be filed as exhibits to a Registration Statement have been so described or filed. Copies of each Registration Statement, any Prospectus, and any such amendments or supplements thereto and all documents incorporated by reference therein that were filed with the SEC on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to the Investor and its counsel. The Company has not distributed and, prior to the later to occur of each Advance Date and completion of the distribution of the Shares, will not distribute any offering material in connection with the offering or sale of the Shares other than a Registration Statement, the Prospectus contained therein, and any required prospectus supplement, in each case as reviewed and consented to by the Investor.

Section 4.08 <u>No Misstatement or Omission</u>. Each Registration Statement, when it became or becomes effective, and any Prospectus, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects with the requirements of the Securities Act. At each Advance Notice Date and applicable Advance Date, the Registration Statement, and the Prospectus, as of such date, will conform in all material respects with the requirements of the Securities Act. Each Registration Statement, when it became or becomes effective, did not, and will not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. Each Prospectus did not, or will not, include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The documents incorporated by reference in a Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by reference therein will not, when filed with the SEC, contain an untrue statement of a material fact or omit to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company by the Investor specifically for use in the preparation thereof.

Section 4.09 <u>Conformity with Securities Act and Exchange Act</u>. Each Registration Statement, each Prospectus, or any amendment or supplement thereto, and the documents incorporated by reference in each Registration Statement, Prospectus or any amendment or supplement thereto, when such documents were or are filed with the SEC under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable.

Section 4.10 <u>Equity Capitalization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) As
 of the date hereof, the authorized capital of the Company consists of 500,000,000,000 ordinary
 shares, par value NIS 0.01. As of the date hereof, the Company had 7,851,440,046 shares of
 ordinary shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 ADSs are registered pursuant to Section 12(b) of the Exchange Act and are currently listed
 on a Principal Market under the trading symbol "SVRE." The Company has taken
 no action designed to, or likely to have the effect of, terminating the registration of the
 ADSs under the Exchange Act, delisting the ADSs from the Principal Market, nor has the Company
 received any notification that the Commission or the Principal Market is contemplating terminating
 such registration or listing. To the Company's knowledge, it is in compliance with
 all applicable listing requirements of the Principal Market.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Existing Securities; Obligations</u>. Except as disclosed in the SEC Documents: (A) none of the
 Company's or any Subsidiary's shares, interests or capital stock is subject to
 preemptive rights or any other similar rights or liens suffered or permitted by the Company
 or any Subsidiary; (B) there are no outstanding options, warrants, scrip, rights to
 subscribe to, calls or commitments of any character whatsoever relating to, or securities
 or rights convertible into, or exercisable or exchangeable for, any shares, interests or
 capital stock of the Company or any of its Subsidiaries, or contracts, commitments, understandings
 or arrangements by which the Company or any of its Subsidiaries is or may become bound to
 issue additional shares, interests or capital stock of the Company or any of its Subsidiaries
 or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
 whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable
 for, any shares, interests or capital stock of the Company or any of its Subsidiaries;
 (C) there are no agreements or arrangements under which the Company or any of its Subsidiaries
 is obligated to register the sale of any of their securities under the Securities Act (except
 pursuant to this Agreement); (D) there are no outstanding securities or instruments
 of the Company or any of its Subsidiaries which contain any redemption or similar provisions,
 and there are no contracts, commitments, understandings or arrangements by which the Company
 or any of its Subsidiaries is or may become bound to redeem a security of the Company or
 any of its Subsidiaries; (E) there are no securities or instruments containing anti-dilution
 or similar provisions that will be triggered by the issuance of the Shares; and (F)
 neither the Company nor any Subsidiary has entered into any Variable Rate Transaction.

Section 4.11 <u>Intellectual Property Rights</u>. The Company and its Subsidiaries own or possess adequate rights or licenses to use all material trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations, trade secrets and rights, if any, necessary to conduct their respective businesses as now conducted, except as would not cause a Material Adverse Effect. The Company and its Subsidiaries have not received written notice of any infringement by the Company or its Subsidiaries of trademark, trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, service marks, service mark registrations, or trade secrets, except as would not cause a Material Adverse Effect. To the knowledge of the Company, there is no claim, action or proceeding being made or brought against, or to the Company's knowledge, being threatened against the Company or its Subsidiaries regarding trademark, trade name, patents, patent rights, invention, copyright, license, service names, service marks, service mark registrations, trade secret or other infringement; and, except as would not cause a Material Adverse Effect, the Company is not aware of any facts or circumstances which might give rise to any of the foregoing.

Section 4.12 <u>Employee Relations</u>. Neither the Company nor any of its Subsidiaries is involved in any labor dispute nor, to the knowledge of the Company or any of its Subsidiaries, is any such dispute threatened, in each case which is reasonably likely to cause a Material Adverse Effect.

Section 4.13 <u>Environmental Laws</u>. The Company and its Subsidiaries (i) have not received written notice alleging any failure to comply in all material respects with all Environmental Laws (as defined below), (ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) have not received written notice alleging any failure to comply with all terms and conditions of any such permit, license or approval where, in each of the foregoing clauses (i), (ii) and (iii), the failure to so comply would be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The term "<u>Environmental Laws</u>" means all applicable federal, state and local laws relating to pollution or protection of human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, "<u>Hazardous Materials</u>") into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

Section 4.14 <u>Title</u>. Except as would not cause a Material Adverse Effect, the Company (or its Subsidiaries) has indefeasible fee simple or leasehold title to its properties and material assets owned by it, free and clear of any pledge, lien, security interest, encumbrance, claim or equitable interest other than such as are not material to the business of the Company. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and its Subsidiaries.

Section 4.15 <u>Insurance</u>. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company and its Subsidiaries are engaged. The Company has no reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect.

Section 4.16 <u>Regulatory Permits</u>. Except as would not cause a Material Adverse Effect, the Company and its Subsidiaries possess all material certificates, authorizations and permits issued by the appropriate federal, state or foreign regulatory authorities necessary to own their respective businesses, and neither the Company nor any such Subsidiary has received any written notice of proceedings relating to the revocation or modification of any such certificate, authorization or permits.

Section 4.17 <u>Internal Accounting Controls</u>. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management's general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management's general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences, and management is not aware of any material weaknesses that are not disclosed in the SEC Documents as and when required.

Section 4.18 <u>Absence of Litigation</u>. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending against or affecting the Company, the ADSs or Ordinary Shares or any of the Company's Subsidiaries, wherein an unfavorable decision, ruling or finding would have a Material Adverse Effect.

Section 4.19 <u>Subsidiaries</u>. The Company does not presently own or control, directly or indirectly, any interest in any other corporation, partnership, association or other business entity.

Section 4.20 <u>Tax Status</u>. Except as would not have a Material Adverse Effect, each of the Company and its Subsidiaries (i) has timely made or filed all foreign, federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has timely paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and (iii) has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. Except as would not have a Material Adverse Effect, the Company has not received written notification of any unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company and its Subsidiaries know of no basis for any such claim where failure to pay would cause a Material Adverse Effect.

Section 4.21 <u>Certain Transactions</u>. Except as not required to be disclosed pursuant to Applicable Laws, none of the officers or directors of the Company is presently a party to any transaction with the Company (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer or director, or to the knowledge of the Company, any corporation, partnership, trust or other entity in which any officer or director has a substantial interest or is an officer, director, trustee or partner.

Section 4.22 <u>Rights of First Refusal</u>. The Company is not obligated to offer the ADSs or Ordinary Shares offered hereunder on a right of first refusal basis to any third parties including, but not limited to, current or former shareholders of the Company, underwriters, brokers, agents or other third parties.

Section 4.23 <u>Dilution</u>. The Company is aware and acknowledges that issuance of ADSs or Ordinary Shares hereunder could cause dilution to existing shareholders and could significantly increase the outstanding number of ADSs or Ordinary Shares.

Section 4.24 <u>Acknowledgment Regarding Investor's Purchase of Shares</u>. The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm's length investor with respect to this Agreement and the transactions contemplated hereunder. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereunder and any advice given by the Investor or any of its representatives or agents in connection with this Agreement and the transactions contemplated hereunder is merely incidental to the Investor's purchase of the Shares hereunder. The Company is aware and acknowledges that it shall not be able to request Advances under this Agreement if a Registration Statement is not effective or if any issuances of ADSs or Ordinary Shares pursuant to any Advances would violate any rules of the Principal Market. The Company acknowledges and agrees that it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated by this Agreement.

Section 4.25 <u>Finder's Fees</u>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder's fees, brokerage commissions or similar payments in connection with the transactions herein contemplated.

Section 4.26 <u>Relationship of the Parties</u>. Neither the Company, nor any of its subsidiaries, affiliates, nor any person acting on its or their behalf is a client or customer of the Investor or any of its affiliates and neither the Investor nor any of its affiliates has provided, or will provide, any services to the Company or any of its affiliates, its subsidiaries, or any person acting on its or their behalf. The Investor's relationship to Company is solely as investor as provided for in the Transaction Documents.

Section 4.27 <u>Forward-Looking Statements</u>. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Registration Statement or a Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

Section 4.28 <u>Compliance with Laws</u>. Except as would not have a Material Adverse Effect, the Company and each of its Subsidiaries are in compliance with Applicable Laws; the Company has not received a notice of non-compliance by any director, officer, or employee of the Company or any Subsidiary nor, to the Company's knowledge, any agent, affiliate or other person acting on behalf of the Company or any Subsidiary, has not complied with Applicable Laws, or could give rise to a notice of non-compliance with Applicable Laws, and is not aware of any pending change or contemplated change to any applicable law or regulation or governmental position; in each case that would have a Material Adverse Effect.

Section 4.29 <u>Sanctions Matters</u>. Neither the Company nor any of its Subsidiaries or, to the knowledge of the Company, any director, officer or controlled Affiliate of the Company or any director or officer of any Subsidiary, is a Person that is, or is owned or controlled by a Person that is (i) the subject of any sanctions administered or enforced by the U.S. Department of Treasury's Office of Foreign Asset Control ("<u>OFAC</u>"), the United Nations Security Council, the European Union, His Majesty's Treasury, or other relevant sanctions authorities, including, without limitation, designation on OFAC's Specially Designated Nationals and Blocked Persons List or OFAC's Foreign Sanctions Evaders List or other relevant sanctions authority (collectively, "<u>Sanctions</u>"), or (ii) located, organized or resident in a country or territory that is the subject of Sanctions that broadly prohibit dealings with that country or territory (including, without limitation, the Crimea, Zaporizhzhia and Kherson regions of Ukraine, the Donetsk People's Republic and Luhansk People's Republic in Ukraine, Cuba, Iran, North Korea, Russia, Sudan and Syria (the "<u>Sanctioned Countries</u>")). Neither the Company nor any of its Subsidiaries will, directly or indirectly, use the proceeds from the sale of Advance Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (a) for the purpose of funding or facilitating any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or is a Sanctioned Country, or (b) in any other manner that will result in a violation of Sanctions or Applicable Laws by any Person (including any Person participating in the transactions contemplated by this Agreement, whether as underwriter, advisor, investor or otherwise). For the past five years, neither the Company nor any of its Subsidiaries has engaged in, and is now not engaged in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions or was a Sanctioned Country. Neither the Company nor any of its Subsidiaries nor any director, officer or controlled Affiliate of the Company or any of its Subsidiaries, has ever had funds blocked by a United States bank or financial institution, temporarily or otherwise, as a result of OFAC concerns.

Section 4.30 <u>Foreign Private Issuer</u>. The Company is a "foreign private issuer," within the meaning of Rule 3b-4 under the Exchange Act. The Company has taken all actions required pursuant to Nasdaq Rule 5615(a)(3) to duly and validly rely on the exemption for foreign private issuers from applicable rules and regulations of the Nasdaq by adopting the Home Country Practice as disclosed in the SEC Documents.

Section 4.31 <u>General Solicitation</u>. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Common Shares.

**Article V. Indemnification**

The Investor and the Company represent to the other the following with respect to itself:

Section 5.01 <u>Indemnification by the Company</u>. In consideration of the Investor's execution and delivery of this Agreement and acquiring the Shares hereunder, and in addition to all of the Company's other obligations under this Agreement, the Company shall defend, protect, indemnify and hold harmless the Investor, its investment manager, Yorkville Advisors Global, LP, and their respective Affiliates, and each of the foregoing's respective officers, directors, managers, members, partners, employees and agents (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) and each person who controls any of the foregoing within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the "<u>Investor Indemnitees</u>") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and reasonable and documented expenses in connection therewith (irrespective of whether any such Investor Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable and attorneys' fees and disbursements (the "<u>Indemnified Liabilities</u>"), incurred by the Investor Indemnitees or any of them as a result of, or arising out of, or relating to (a) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares as originally filed or in any amendment thereof, or in any related prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; <u>provided</u>, <u>however</u>, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Investor specifically for inclusion therein; (b) any material misrepresentation or breach of any material representation or material warranty made by the Company in this Agreement or any other certificate, instrument or document contemplated hereby or thereby; or (c) any material breach of any material covenant, material agreement or material obligation of the Company contained in this Agreement or any other certificate, instrument or document contemplated hereby or thereby. To the extent that the foregoing undertaking by the Company may be unenforceable under Applicable Law, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities, which is permissible under Applicable Law.

Section 5.02 <u>Indemnification by the Investor</u>. In consideration of the Company's execution and delivery of this Agreement, and in addition to all of the Investor's other obligations under this Agreement, the Investor shall defend, protect, indemnify and hold harmless the Company and all of its officers, directors, shareholders, employees and agents (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) and each person who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the "<u>Company Indemnitees</u>") from and against any and all Indemnified Liabilities incurred by the Company Indemnitees or any of them as a result of, or arising out of, or relating to (a) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares as originally filed or in any amendment thereof, or in any related prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; <u>provided</u>, <u>however</u>, that the Investor will only be liable for written information relating to the Investor furnished to the Company by or on behalf of the Investor specifically for inclusion in the documents referred to in the foregoing indemnity, and will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Investor by or on behalf of the Company specifically for inclusion therein; (b) any misrepresentation or breach of any representation or warranty made by the Investor in this Agreement or any instrument or document contemplated hereby or thereby executed by the Investor; or (c) any breach of any covenant, agreement or obligation of the Investor contained in this Agreement or any other certificate, instrument or document contemplated hereby or thereby executed by the Investor. To the extent that the foregoing undertaking by the Investor may be unenforceable under Applicable Laws, the Investor shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities, which is permissible under Applicable Laws.

Section 5.03 <u>Notice of Claim</u>. Promptly after receipt by an Investor Indemnitee or Company Indemnitee of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving an Indemnified Liability, such Investor Indemnitee or Company Indemnitee, as applicable, shall, if a claim for an Indemnified Liability in respect thereof is to be made against any indemnifying party under this Article V, deliver to the indemnifying party a written notice of the commencement thereof; but the failure to so notify the indemnifying party will not relieve it of liability under this Article V except to the extent the indemnifying party is prejudiced by such failure. The indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually reasonably satisfactory to the indemnifying party and the Investor Indemnitee or Company Indemnitee, as the case may be; provided, however, that an Investor Indemnitee or Company Indemnitee shall have the right to retain its own counsel with the actual and reasonable third party fees and expenses of not more than one counsel for such Investor Indemnitee or Company Indemnitee to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Investor Indemnitee or Company Indemnitee and the indemnifying party would be inappropriate due to actual or potential differing interests between such Investor Indemnitee or Company Indemnitee and any other party represented by such counsel in such proceeding. The Investor Indemnitee or Company Indemnitee shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Investor Indemnitee or Company Indemnitee which relates to such action or claim. The indemnifying party shall keep the Investor Indemnitee or Company Indemnitee reasonably apprised as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent of the Investor Indemnitee or Company Indemnitee, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Investor Indemnitee or Company Indemnitee of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Investor Indemnitee or Company Indemnitee with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made. The indemnification required by this Article V shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received and payment therefor is due.

Section 5.04 <u>Remedies</u>. The remedies provided for in this Article V are not exclusive and shall not limit any right or remedy which may be available to any indemnified person at law or equity. The obligations of the parties to indemnify or make contribution under this Article V shall survive expiration or termination of this Agreement.

Section 5.05 <u>Limitation of liability</u>. Notwithstanding the foregoing, no party shall be entitled to recover from the other party for punitive, indirect, incidental or consequential damages.

**Article VI.<br> Covenants**

The Company covenants with the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party, during the Commitment Period:

Section 6.01 <u>Registration Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Filing of a Registration Statement</u>. The Company shall prepare and file with the SEC a Registration
 Statement on Form F-1 to cover the resale by the Investor of all the Registrable Securities
 as soon as reasonably practicable. The Company shall use commercially reasonable efforts
 to cause the initial Registration Statement to become effective within forty five (45) calendar
 days of the filing date .

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Maintaining a Registration Statement</u>. The Company shall use commercially reasonable efforts maintain
 the effectiveness of any Registration Statement that has been declared effective at all times
 during the Commitment Period, provided, however, that if the Company has received notification
 pursuant to Section 2.04 that the Investor has completed resales of Advance Shares pursuant
 to the Registration Statement for the full Commitment Amount, then the Company shall be under
 no further obligation to maintain the effectiveness of the Registration Statement. Notwithstanding
 anything to the contrary contained in this Agreement, the Company shall ensure that, when
 filed, each Registration Statement (including, without limitation, all amendments and supplements
 thereto) and the prospectus (including, without limitation, all amendments and supplements
 thereto) used in connection with such Registration Statement shall not contain any untrue
 statement of a material fact or omit to state a material fact required to be stated therein,
 or necessary to make the statements therein (in the case of prospectuses, in the light of
 the circumstances in which they were made) not misleading. During the Commitment Period,
 the Company shall notify the Investor promptly if (i) the Registration Statement shall cease
 to be effective under the Securities Act, (ii) the ADSs shall cease to be authorized for
 listing on the Principal Market, (iii) the ADSs cease to be registered under Section 12(b)
 or Section 12(g) of the Exchange Act or (iv) the Company fails to file in a timely manner
 all reports and other documents required of it as a reporting company under the Exchange
 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Filing Procedures</u>. The Company shall (A) permit counsel to the Investor an opportunity
 to review and comment upon (i) each Registration Statement at least three (3) Trading
 Days prior to its filing with the SEC and (ii) all amendments and supplements to each
 Registration Statement (including, without limitation, the Prospectus contained therein)
 (except for Annual Reports on Form 20-F, Quarterly Reports on Form 6-K, if
 any, Current Reports on Form 6-K, and any similar or successor reports or
 Prospectus Supplements the contents of which is limited to that set forth in such reports)
 within a reasonable number of days prior to their filing with the SEC, and (B) shall
 reasonably consider any comments of the Investor and its counsel on any such Registration
 Statement or amendment or supplement thereto or to any Prospectus contained therein. The
 Company shall promptly furnish to the Investor upon request, without charge, (i) electronic
 copies of any correspondence from the SEC or the staff of the SEC to the Company or its representatives
 relating to each Registration Statement (which correspondence shall be redacted to exclude
 any material, non-public information regarding the Company or any of its Subsidiaries),
 (ii) after the same is prepared and filed with the SEC, one (1) electronic copy of each
 Registration Statement and any amendment(s) and supplement(s) thereto, including, without
 limitation, financial statements and schedules, all documents incorporated therein by reference,
 if requested by the Investor, and all exhibits and (iii) upon the effectiveness of each
 Registration Statement, one (1) electronic copy of the Prospectus included in such Registration
 Statement and all amendments and supplements thereto; provided, however, the Company shall
 not be required to furnish any document to the extent such document is available on EDGAR).

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Amendments and Other Filings</u>. The Company shall (i) prepare and file with the SEC such amendments (including
 post-effective amendments) and supplements to a Registration Statement and the related prospectus
 used in connection with such Registration Statement, which prospectus is to be filed pursuant
 to Rule 424 promulgated under the Securities Act, as may be necessary to keep such Registration
 Statement effective at all times during the Commitment Period, and prepare and file with
 the SEC such additional Registration Statements in order to register for resale under the
 Securities Act all of the Registrable Securities; (ii) cause the related prospectus to be
 amended or supplemented by any required prospectus supplement (subject to the terms of this
 Agreement), and as so supplemented or amended to be filed pursuant to Rule 424 promulgated
 under the Securities Act; (iii) upon request provide the Investor copies of all correspondence
 from and to the SEC relating to a Registration Statement (provided that the Company may excise
 any information contained therein which would constitute material non-public information,
 and (iv) comply with the provisions of the Securities Act with respect to the Registration
 Statement. In the case of amendments and supplements to a Registration Statement which are
 required to be filed pursuant to this Agreement (including pursuant to this Section 6.01(d)
 by reason of the Company's filing a report on Form 20-F, or Form 6-K or any analogous
 report under the Exchange Act, the Company shall file such report in a prospectus supplement
 filed pursuant to Rule 424 promulgated under the Securities Act to incorporate such filing
 into the Registration Statement, if applicable, or shall file such amendments or supplements
 with the SEC either on the day on which the Exchange Act report is filed which created the
 requirement for the Company to amend or supplement the Registration Statement, if feasible,
 or otherwise promptly thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;**(e)** <u>Blue-Sky</u>.
 The Company shall use its commercially reasonable efforts to, if required by Applicable Laws,
 (i) register and qualify the ADSs covered by a Registration Statement under such other securities
 or "blue sky" laws of such jurisdictions in the United States as the Investor
 reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including
 post-effective amendments) and supplements to such registrations and qualifications as may
 be necessary to maintain the effectiveness thereof during the Commitment Period, (iii) take
 such other actions as may be necessary to maintain such registrations and qualifications
 in effect at all times during the Commitment Period, and (iv) take all other actions reasonably
 necessary or advisable to qualify the ADSs for sale in such jurisdictions; provided, however,
 that the Company shall not be required in connection therewith or as a condition thereto
 to (w) make any change to its Articles of Incorporation or Bylaws or any other organizational
 documents of the Company or any of its Subsidiaries, (x) qualify to do business in any jurisdiction
 where it would not otherwise be required to qualify but for this Section 6.01(e), (y) subject
 itself to general taxation in any such jurisdiction, or (z) file a general consent to service
 of process in any such jurisdiction. The Company shall promptly notify the Investor of the
 receipt by the Company of any notification with respect to the suspension of the registration
 or qualification of any of the ADSs for sale under the securities or "blue sky"
 laws of any jurisdiction in the United States or its receipt of actual notice of the initiation
 or threat of any proceeding for such purpose.

Section 6.02 <u>Suspension of Registration Statement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Establishment of a Black Out Period</u>. During the Commitment Period, the Company from time to time may
 suspend the use of the Registration Statement by written notice to the Investor in the event
 that the Company determines in its sole discretion in good faith that such suspension is
 necessary to (A) delay the disclosure of material nonpublic information concerning the Company,
 the disclosure of which at the time is not, in the good faith opinion of the Company, in
 the best interests of the Company or (B) amend or supplement the Registration Statement or
 Prospectus so that such Registration Statement or Prospectus shall not include an untrue
 statement of a material fact or omit to state a material fact required to be stated therein
 or necessary to make the statements therein, in light of the circumstances under which they
 were made, not misleading (a " <u>Black Out Period</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Sales by Investor During the Black Out Period</u>. During such Black Out Period, the Investor
 agrees not to sell any ADSs of the Company pursuant to such Registration Statement, but may
 sell shares pursuant to an exemption from registration, if available, subject to the Investor's
 compliance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Limitations on the Black Out Period</u>. The Company shall not impose any Black Out Period that is longer
 than 20 or in each case, in a manner that is more restrictive (including, without limitation,
 as to duration) than the comparable restrictions that the Company may impose on transfers
 of the Company's equity securities by its directors and senior executive officers.
 In addition, the Company shall not deliver any Advance Notice during any Black Out Period.
 If the public announcement of such material, nonpublic information is made during a Black
 Out Period, the Black Out Period shall terminate immediately after such announcement, and
 the Company shall immediately notify the Investor of the termination of the Black Out Period.

Section 6.03 <u>Listing of ADSs</u>. As of each Advance Date, the Shares to be sold by the Company from time to time hereunder will have been registered under Section 12(b) of the Exchange Act and approved for listing on the Principal Market, subject to official notice of issuance.

Section 6.04 <u>Opinion of Counsel</u>. Prior to the date of the delivery by the Company of the first Advance Notice, the Investor shall have received an opinion letter from counsel to the Company in form and substance reasonably satisfactory to the Investor.

Section 6.05 <u>Exchange Act Registration</u>. The Company will file in a timely manner all reports and other documents required of it as a reporting company under the Exchange Act and will not take any action or file any document (whether or not permitted by Exchange Act or the rules thereunder) to terminate or suspend its reporting and filing obligations under the Exchange Act.

Section 6.06 <u>Transfer Agent Instructions</u>. For any time while there is a Registration Statement in effect for this transaction, the Company shall (if required by the transfer agent for the ADSs) cause legal counsel for the Company to deliver to the transfer agent for the ADSs (with a copy to the Investor) instructions to issue ADSs to the Investor free of restrictive legends upon each Advance if the delivery of such instructions are consistent with Applicable Law.

Section 6.07 <u>Corporate Existence</u>. The Company will use commercially reasonable efforts to preserve and continue the corporate existence of the Company during the Commitment Period.

Section 6.08 <u>Notice of Certain Events Affecting Registration; Suspension of Right to Make an Advance</u>. The Company will promptly notify the Investor, and confirm in writing, upon its becoming aware of the occurrence of any of the following events in respect of a Registration Statement or related Prospectus (in each of which cases the information provided to Investor will be kept strictly confidential): (i) except for requests made in connection with SEC investigations disclosed in the SEC Documents, receipt of any request for additional information by the SEC or any other Federal or state governmental authority during the period of effectiveness of the Registration Statement or any request for amendments or supplements to the Registration Statement or related Prospectus; (ii) the issuance by the SEC or any other Federal governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of the ADSs for sale in any jurisdiction or the initiation or written threat of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in the Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the related Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or of the necessity to amend the Registration Statement or supplement a related Prospectus to comply with the Securities Act or any other law (and the Company will promptly make available to the Investor any such supplement or amendment to the related Prospectus); (v) the Company's reasonable determination that a post-effective amendment to the Registration Statement would be required under Applicable Law; (vi) the ADSs shall cease to be authorized for listing on the Principal Market; or (vii) the Company fails to file in a timely manner all reports and other documents required of it as a reporting company under the Exchange Act. The Company shall not deliver to the Investor any Advance Notice, and the Company shall not sell any Advance Shares pursuant to any pending Advance Notice (other than as required pursuant to Section 2.02(d)), during the continuation of any of the foregoing events (each of the events described in the immediately preceding clauses (i) through (vii), inclusive, a "<u>Material Outside Event</u>").

Section 6.09 <u>Consolidation</u>. If an Advance Notice has been delivered to the Investor, then the Company shall not effect any consolidation of the Company with or into, or a transfer of all or substantially all the assets of the Company to another entity before the transaction contemplated in such Advance Notice has been closed in accordance with Section 2.02 hereof, and all Advance Shares in connection with such Advance have been received by the Investor.

Section 6.10 <u>Issuance of the Company's ADSs.</u> The issuance and sale of the Shares hereunder shall be made in accordance with the provisions and requirements of Section 4(a)(2) of the Securities Act and any applicable state securities law.

Section 6.11 <u>Expenses</u>. The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, will pay all expenses incident to the performance of its obligations hereunder, including but not limited to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each prospectus and of each amendment and supplement thereto; (ii) the preparation, issuance and delivery of any Shares issued pursuant to this Agreement, (iii) all fees and disbursements of the Company's counsel, accountants and other advisors (but not, for the avoidance doubt, the fees and disbursements of Investor's counsel, accountants and other advisors), (iv) the qualification of the Shares under securities laws in accordance with the provisions of this Agreement, including filing fees in connection therewith, (v) the printing and delivery of copies of any prospectus and any amendments or supplements thereto requested by the Investor, (vi) the fees and expenses incurred in connection with the listing or qualification of the Shares for trading on the Principal Market, (vii) filing fees of the SEC and the Principal Market, or (viii) any fees or expenses in connection with the issuance of ADSs required to be issued hereunder upon the issuance of any Ordinary Shares to the Investor.

Section 6.12 <u>Current Report.</u> The Company shall, not later than 5:30 p.m., New York City time, on the second Business Day after the date of this Agreement, file with the SEC a current report on Form 6-K describing all the material terms of the transactions contemplated by the Transaction Documents in the form required by the Exchange Act and attaching all the material Transaction Documents (including any exhibits thereto, the "<u>Current Report</u>"). The Company shall provide the Investor and its legal counsel a reasonable opportunity to comment on a draft of the Current Report prior to filing the Current Report with the SEC and shall give due consideration to all such comments, if reasonable. Notwithstanding anything contained in this Agreement to the contrary, the Company expressly agrees that from and after the filing of the Current Report with the SEC, the Company shall have publicly disclosed all material, nonpublic information provided to the Investor (or the Investor's representatives or agents) by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees, agents or representatives in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon the filing of the Current Report, the Company acknowledges and agrees that any and all confidentiality or similar obligations with respect to the transactions contemplated by the Transaction Documents under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents, on the one hand, and Investor or any of its respective officers, directors, affiliates, employees or agents, on the other hand, shall terminate. The Company shall not, and the Company shall cause each of its Subsidiaries and each of its and their respective officers, directors, employees and agents not to, provide the Investor with any material, non-public information regarding the Company or any of its Subsidiaries without the express prior written consent of the Investor (which may be granted or withheld in the Investor's sole discretion and if granted must include an agreement to keep such information confidential until publicly disclosed); it being understood that the mere notification of Investor required pursuant to Section 6.08(iv) hereof shall not in and of itself be deemed to be material non-public information. The Company understands and confirms that the Investor will reply on the foregoing representations in effecting resales of Shares.

Section 6.13 <u>Advance Notice Limitation</u>. The Company shall not deliver an Advance Notice if a shareholder meeting or corporate action, or the record date for any shareholder meeting or any corporate action, would fall during the period beginning two Trading Days prior to the date of delivery of such Advance Notice and ending two Trading Days following the Closing of such Advance.

Section 6.14 <u>Use of Proceeds</u>. The proceeds from the sale of the Shares by the Company to Investor shall be used by the Company in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to this Agreement. Neither the Company nor any Subsidiary will, directly or indirectly, use the proceeds of the transactions contemplated herein, or lend, contribute, facilitate or otherwise make available such proceeds to any Person (i) to fund, either directly or indirectly, any activities or business of or with any Person that is identified on the list of Specially Designated Nationals and Blocker Persons maintained by OFAC, or in any country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions or Sanctions Programs, or (ii) in any other manner that will result in a violation of Sanctions or Applicable Laws.

Section 6.15 <u>Compliance with Laws</u>. The Company shall comply in all material respects with all Applicable Laws.

Section 6.16 <u>Market Activities</u>. Neither the Company, nor any Subsidiary, nor any of their respective officers, directors or controlling persons will, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute or result, in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of ADSs or (ii) sell, bid for, or purchase ADSs in violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Shares.

Section 6.17 <u>Trading Information</u>. Upon the Company's request, the Investor agrees to provide the Company with trading reports setting forth the number and average sales prices of shares of Common Stock sold by the Investor during the prior trading week.

Section 6.18 <u>Selling Restrictions</u>. (i) Except as expressly set forth below, the Investor covenants that from and after the date hereof through and including the Trading Day next following the expiration or termination of this Agreement as provided in Section 10.01 (the "<u>Restricted Period</u>"), none of the Investor any of its officers, or any entity managed or controlled by the Investor (collectively, the "<u>Restricted Persons</u>" and each of the foregoing is referred to herein as a "<u>Restricted Person</u>") shall, directly or indirectly, engage in any (i) "short sale" (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Ordinary Shares or ADSs, either for its own principal account or for the principal account of any other Restricted Person, or (ii) hedging transaction, which establishes a net short position with respect to Company's Ordinary Shares or ADS. Notwithstanding the foregoing, it is expressly understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise be true) prohibit any Restricted Person during the Restricted Period from: (1) selling "long" (as defined under Rule 200 promulgated under Regulation SHO) the Shares; or (2) selling a number of ADSs equal to the number of Advance Shares that such Restricted Person is unconditionally obligated to purchase under a pending Advance Notice but has not yet received from the Company or the transfer agent pursuant to this Agreement.

Section 6.19 <u>American Depository Shares</u>. The ADSs will be issued pursuant to the terms and conditions of the Deposit Agreement. The Deposit Agreement shall not be amended or changed in any manner that is materially disadvantageous to ADS holders in general or to the Investor, and such agreement, and the ADS facility, shall not be terminated. The Company shall pay all Depositary fees (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of any Shares to the Investor.

Section 6.20 <u>Assignment</u>. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported assignor's due performance of its obligations hereunder, without the prior written consent of the other Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect. Without the consent of the Investor, the Company shall not have the right to assign or transfer any of its rights or provide any third party the right to bind or obligate the Company, to deliver Advance Notices or effect Advances hereunder.

Section 6.21 <u>No Frustration; No Variable Rate Transactions.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Frustration</u>. The Company shall not enter into, announce or recommend to its stockholders
 any agreement, plan, arrangement or transaction in or of which the terms thereof would restrict,
 materially delay, conflict with or impair the ability or right of the Company to perform
 its obligations under the Transaction Documents to which it is a party, including, without
 limitation, the obligation of the Company to deliver the Shares to the Investor in respect
 of a an Advance Notice..

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Variable Rate Transactions</u>. For so long as the Promissory Note is outstanding, the Company
 shall not effect or enter into an agreement to effect any issuance by the Company or any
 of its Subsidiaries of ADSs or Ordinary Shares, or any security which entitles the holder
 to acquire ADSs or Ordinary Shares (or a combination of units thereof) involving a Variable
 Rate Transaction, other than involving a Variable Rate Transaction with the Investor or with
 the prior written consent of the Investor.

**Article VII.<br> Conditions for Delivery of Advance Notice**

Section 7.01 <u>Conditions Precedent to the Right of the Company to Deliver an Advance Notice</u>. The right of the Company to deliver an Advance Notice and the obligations of the Investor hereunder with respect to an Advance are subject to the satisfaction or waiver, on each Advance Notice Date (a "<u>Condition Satisfaction Date</u>"), of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Accuracy of the Company's Representations and Warranties</u>. The representations and warranties
 of the Company in this Agreement shall be true and correct in all material respects as of
 the Advance Notice Date (other than representations and warranties which address matters
 only as of a certain date, which shall be true and correct as written as of such certain
 date).

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Issuance of Commitment Shares</u> **.** The Company shall have issued the Commitment Shares to an
 account designated by the Investor in accordance with Section 12.04, all of which Commitment
 Shares shall be fully earned and non-refundable, regardless of whether any Advance Notices
 are made or settled hereunder or any subsequent termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Registration of the ADSs or Ordinary Shares with the SEC</u>. There is an effective Registration Statement
 pursuant to which the Investor is permitted to utilize the prospectus thereunder to resell
 all of the Ordinary Shares underlying the ADSs issuable pursuant to such Advance Notice.
 The Company shall have filed with the SEC in a timely manner all reports, notices and other
 documents required under the Exchange Act and applicable SEC regulations during the twelve-month
 period immediately preceding the applicable Condition Satisfaction Date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Authority</u>.
 The Company shall have obtained all permits and qualifications required by any applicable
 state for the offer and sale of all the ADSs or Ordinary Shares issuable pursuant to such
 Advance Notice, or shall have the availability of exemptions therefrom. The sale and issuance
 of such ADSs or Ordinary Shares shall be legally permitted by all laws and regulations to
 which the Company is subject.

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Material Outside Event</u>. No Material Outside Event shall have occurred and be continuing.

&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Board</u>.
 The board of directors of the Company has approved the transactions contemplated by the Transaction
 Documents; said approval has not been amended, rescinded or modified and remains in full
 force and effect as of the date hereof, and a true, correct and complete copy of such resolutions
 duly adopted by the board of directors of the Company shall have been provided to the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Performance by the Company</u>. The Company shall have performed, satisfied and complied in all material
 respects with all covenants, agreements and conditions required by this Agreement to be performed,
 satisfied or complied with by the Company at or prior the applicable Condition Satisfaction
 Date.

&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>No Injunction</u>. No statute, rule, regulation, executive order, decree, ruling or injunction
 shall have been enacted, entered, promulgated or endorsed by any court or governmental authority
 of competent jurisdiction that prohibits or directly, materially and adversely affects any
 of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>No Suspension of Trading in or Delisting of ADSs</u>. Trading in the ADSs shall not have been
 suspended by the SEC, the Principal Market or FINRA, the Company shall not have received
 any final and non-appealable notice that the listing or quotation of the ADSs on the Principal
 Market shall be terminated on a date certain (unless, prior to such date certain, the ADSs
 is listed or quoted on any subsequent Principal Market), nor shall there have been imposed
 any suspension of, or restriction on, accepting additional deposits of the ADSs, electronic
 trading or book-entry services by DTC with respect to the ADSs that is continuing, the Company
 shall not have received any notice from DTC to the effect that a suspension of, or restriction
 on, accepting additional deposits of the ADSs, electronic trading or book-entry services
 by DTC with respect to the ADSs is being imposed or is contemplated (unless, prior to such
 suspension or restriction, DTC shall have notified the Company in writing that DTC has determined
 not to impose any such suspension or restriction).

&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Authorized</u>.
 There shall be a sufficient number of authorized but unissued and otherwise unreserved Ordinary
 Shares and ADSs under the Deposit Agreement for the issuance of all of the Shares issuable
 pursuant to such Advance Notice.

&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Executed Advance Notice</u>. The representations contained in the applicable Advance Notice shall
 be true and correct in all material respects as of the applicable Condition Satisfaction
 Date.

&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Consecutive Advance Notices</u>. Except with respect to the first Advance Notice, the Company shall have
 delivered all Advance Shares relating to all prior Advances.

&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Other Agreements</u>. The Company shall not have breached or failed to observe any term of any
 debenture, note, or other instrument held by the Investor in the Company or any other agreement
 between or among the Company and the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Material Non-Public Information</u>. Neither the Company nor the Investor shall be in possession of
 any material non-public information regarding the Company.

**Article VIII.<br> Non-Exclusive Agreement**

Notwithstanding anything contained herein, this Agreement and the rights awarded to the Investor hereunder are non-exclusive, and the Company may, at any time throughout the term of this Agreement and thereafter, issue and allot, or undertake to issue and allot, any shares and/or securities and/or convertible notes, bonds, debentures, options to acquire shares or other securities and/or other facilities which may be converted into or replaced by ADSs or other securities of the Company, and to extend, renew and/or recycle any bonds and/or debentures, and/or grant any rights with respect to its existing and/or future share capital.

**Article IX.<br> Choice of Law/Jurisdiction**

Section 9.01 This Agreement, and any and all claims, proceedings or causes of action relating to this Agreement or arising from this Agreement or the transactions contemplated herein, including, without limitation, tort claims, statutory claims and contract claims, shall be interpreted, construed, governed and enforced under and solely in accordance with the substantive and procedural laws of the State of New York, in each case as in effect from time to time and as the same may be amended from time to time, and as applied to agreements performed wholly within the State of New York. The Parties further agree that any action between them shall be heard in New York County, New York, and expressly consent to the jurisdiction and venue of the Supreme Court of New York, sitting in New York County, New York and the United States District Court of the Southern District of New York, sitting in New York, New York, for the adjudication of any civil action asserted pursuant to this Agreement.

Section 9.02 EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN, THE PERFORMANCE THEREOF OR THE FINANCINGS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

**Article X. Termination**

Section 10.01 <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless
 earlier terminated as provided hereunder, this Agreement shall terminate automatically on
 the earliest of (i) the first day of the month next following the 36-month anniversary
 of the date hereof or (ii) the date on which the Investor shall have made payment of Advances
 pursuant to this Agreement for ADSs equal to the Commitment Amount.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Company may terminate this Agreement effective upon five Trading Days' prior written
 notice to the Investor; provided that (i) there are no outstanding Advance Notices, the ADSs
 under which have yet to be issued, (ii) there is no outstanding Promissory Note, and (iii)
 the Company has paid all amounts owed to the Investor pursuant to this Agreement. This Agreement
 may be terminated at any time by the mutual written consent of the parties, effective as
 of the date of such mutual written consent unless otherwise provided in such written consent.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Nothing
 in this Section 10.01 shall be deemed to release the Company or the Investor from any liability
 for any breach under this Agreement, or to impair the rights of the Company and the Investor
 to compel specific performance by the other party of its obligations under this Agreement.
 The indemnification provisions contained in Article V shall survive termination hereunder.

**Article XI. Notices**

Other than with respect to Advance Notices, which must be in writing delivered in accordance with Section 2.01(b) and will be deemed delivered on the day set forth in Section 2.01(b), any notices, consents, waivers, or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by e-mail if sent on a Trading Day, or, if not sent on a Trading Day, on the immediately following Trading Day; (iii) 5 days after being sent by U.S. certified mail, return receipt requested, or (iv) 1 day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses for such communications (except for Advance Notices which shall be delivered in accordance with Exhibit A hereof) shall be:

---

| | |
|:---|:---|
| &nbsp;&nbsp; <br> If to the Company, to: | &nbsp;&nbsp;SaverOne 2014 Ltd.<br> Em Hamoshavot Rd. 94<br> Petach Tikva<br> Israel<br>|
|  | &nbsp;&nbsp;Attention: Ori Gilboa |
|  | &nbsp;&nbsp;Telephone: +972-39094177<br> Email: OriG@saver.one<br>|
| &nbsp;&nbsp;With a copy to (which shall not<br> constitute notice or delivery of process) to: | &nbsp;&nbsp;David Aboudi<br> Aboudi Legal Group PLLC<br> 745 Fifth Avenue<br> New York NY 10151<br> Telephone: + 972-523-983-707<br> Email: david@boudilegal.com |
| &nbsp;&nbsp;If to the Investor(s): | &nbsp;&nbsp;YA II PN, Ltd. |
|  | &nbsp;&nbsp;1012 Springfield Avenue |
|  | &nbsp;&nbsp;Mountainside, NJ 07092 |
|  | &nbsp;&nbsp;Attention: Mark Angelo |
|  | &nbsp;&nbsp; Portfolio Manager |
|  | &nbsp;&nbsp;Telephone: (201) 985-8300 |
|  | &nbsp;&nbsp;Email: mangelo@yorkvilleadvisors.com<br>|
| &nbsp;&nbsp;With a Copy (which shall not<br> constitute notice or delivery of process) to: | &nbsp;&nbsp;David Fine, Esq.<br> 1012 Springfield Avenue<br> Mountainside, NJ 07092 |
|  | &nbsp;&nbsp;Telephone: (201) 985-8300 |
|  | &nbsp;&nbsp;Email: legal@yorkvilleadvisors.com |

---

or at such other address and/or e-mail and/or to the attention of such other person as the recipient party has specified by written notice given to each other party three Business Days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient of such notice, consent, waiver or other communication, (ii) electronically generated by the sender's email service provider containing the time, date, recipient email address or (iii) provided by a nationally recognized overnight delivery service shall be rebuttable evidence of personal service in accordance with clause (i), (ii) or (iii) above, respectively.

**Article XII. Miscellaneous**

Section 12.01 <u>Counterparts</u>. This Agreement may be executed in identical counterparts, both which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. Facsimile or other electronically scanned and delivered signatures (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, *e.g.*, www.docusign.com), including by e-mail attachment, shall be deemed to have been duly and validly delivered and be valid and effective for all purposes of this Agreement.

Section 12.02 <u>Entire Agreement; Amendments</u>. This Agreement supersedes all other prior oral or written agreements between the Investor, the Company, their respective Affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement contains the entire understanding of the parties with respect to the matters covered herein and, except as specifically set forth herein, neither the Company nor the Investor makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may be waived or amended other than by agreement of the parties to this Agreement. The failure of any party hereto to exercise any right, power or remedy provided under this Agreement or otherwise available in respect hereof at law or in equity, or to insist upon strict compliance by any other party hereto with its obligations hereunder, shall not constitute a waiver by such party of its right to exercise any such right, power or remedy or any other right, power or remedy or to demand strict compliance with such obligations hereunder. No custom or practice of the parties at variance with the terms hereof shall constitute a waiver by any party of its right to exercise any right, power or remedy available to it hereunder or any other right, power or remedy or to demand strict compliance with the terms of this Agreement.

Section 12.03 <u>Reporting Entity for the ADSs</u>. The reporting entity relied upon for the determination of the trading price or trading volume of the ADSs on any given Trading Day for the purposes of this Agreement shall be Bloomberg, L.P. or any successor thereto. The written mutual consent of the Investor and the Company shall be required to employ any other reporting entity.

Section 12.04 <u>Commitment and Structuring Fee</u>. Each of the parties shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others engaged by such party) in connection with this Agreement and the transactions contemplated hereby, except that the Company shall pay to the Investor a structuring fee in the amount of $25,000, and the Company shall pay a commitment fee in an amount equal to 1.00% of the Commitment Amount (the "<u>Commitment Fee</u>"), of which (i) one-fifth (20%) of the Commitment Fee shall be paid within 5 days of the Effective Date, (ii) within 5 days of the date upon which the Company has received aggregate Advances hereunder equal to or exceeding $10,000,000, an additional one-fifth (20%) of the Commitment Fee, and (iii) thereafter, within 5 days upon which the Company has received each additional $10,000,00 of Advances, an additional one-fifth (20%) of the Commitment Fee, in each case by the issuance to the Investor on the date such Commitment Fee is due of such number of ADSs that is equal to the portion of the Commitment Fee due divided by the average of the daily VWAPs of the ADSs during the 3 Trading Days immediately prior to the date such portion of the Commitment Fee is due (collectively, the "<u>Commitment Shares</u>").

Section 12.05 <u>Brokerage</u>. Except as set forth under the corresponding section of the Disclosure Schedules, each of the parties hereto represents that it has had no dealings in connection with this transaction with any finder or broker who will demand payment of any fee or commission from the other party. The Company on the one hand, and the Investor, on the other hand, agree to indemnify the other against and hold the other harmless from any and all liabilities to any person claiming brokerage commissions or finder's fees on account of services purported to have been rendered on behalf o/f the indemnifying party in connection with this Agreement or the transactions contemplated hereby.

**[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]**

**IN WITNESS WHEREOF**, the parties hereto have caused this Standby Equity Purchase Agreement to be executed by the undersigned, thereunto duly authorized, as of the date first set forth above.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **SaverOne 2014 Ltd.** | **SaverOne 2014 Ltd.** |
| By: | /s/ Ori Gilboa |
| Name: | Ori Gilboa |
| Title: | Chief Executive Officer |
| **INVESTOR:** | **INVESTOR:** |
| **YA II PN, Ltd.** | **YA II PN, Ltd.** |
| By: | Yorkville Advisors Global, LP |
| Its: | Investment Manager |
| By: | Yorkville Advisors Global II, LLC |
| <br> Its: | General Partner  |
| By: | /s/ Matt Beckman |
| Name: | Matt Beckman |
| Title: | Member |

---

**ANNEX I TO THE**

**STANDBY EQUITY PURCHASE AGREEMENT**

**DEFINITIONS**

"<u>Additional Shares</u>" shall have the meaning set forth in Section 2.01(d)(ii).

"<u>Adjusted Advance Amount</u>" shall have the meaning set forth in Section 2.01(d)(i).

"<u>Advance</u>" shall mean any issuance and sale of Advance Shares by the Company to the Investor pursuant to Article II hereof.

"<u>Advance Date</u>" shall mean the first Trading Day after expiration of the applicable Pricing Period for each Advance.

"<u>Advance Notice</u>" shall mean a written notice in the form of Exhibit A attached hereto to the Investor executed by an officer of the Company and setting forth the number of Advance Shares that the Company desires to issue and sell to the Investor.

"<u>Advance Notice Date</u>" shall mean each date the Company is deemed to have delivered (in accordance with Section 2.01(b) of this Agreement) an Advance Notice to the Investor, subject to the terms of this Agreement.

"<u>Advance Shares</u>" shall mean the ADSs and Ordinary Shares underlying the ADSs that the Company shall issue and sell to the Investor pursuant to the terms of this Agreement.

"<u>ADSs</u>" shall have the meaning set forth in the recitals of this Agreement.

"<u>Affiliate</u>" shall have the meaning set forth in Section 3.07.

"<u>Agreement</u>" shall have the meaning set forth in the preamble of this Agreement.

"<u>Applicable Laws</u>" shall mean all applicable laws, statutes, rules, regulations, orders, executive orders, directives, policies, guidelines and codes having the force of law, whether local, national, or international, as amended from time to time, including without limitation (i) all applicable laws that relate to money laundering, terrorist financing, financial record keeping and reporting, (ii) all applicable laws that relate to anti-bribery, anti-corruption, books and records and internal controls, including the United States Foreign Corrupt Practices Act of 1977, and (iii) any Sanctions laws.

"<u>Black Out Period</u>" shall have the meaning set forth in Section 6.01(e).

"<u>Business Day</u>" shall mean any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by Applicable Law to close.

"<u>Closing</u>" shall have the meaning set forth in Section 2.02.

"<u>Commitment Amount</u>" shall mean $50,000,000 of ADSs.

"<u>Commitment Fee</u>" shall have the meaning set forth in Section 12.04.

"<u>Commitment Shares</u>" shall have the meaning set forth in Section 12.04.

"<u>Commitment Period</u>" shall mean the period commencing on the date hereof and expiring upon the date of termination of this Agreement in accordance with Section 10.01.

"<u>Company</u>" shall have the meaning set forth in the preamble of this Agreement.

"<u>Company Indemnitees</u>" shall have the meaning set forth in Section 5.02.

"<u>Condition Satisfaction Date</u>" shall have the meaning set forth in Section 7.01.

"<u>Current Report</u>" shall have the meaning set forth in Section 6.12.

"<u>Deposit Agreement</u>" means the Deposit Agreement dated as of June 2, 2022, among the Company, The Bank of New York Mellon as Depositary and the owners and holders of ADSs from time to time, as such agreement may be amended or supplemented.

"<u>Depositary</u>" means The Bank of New York Mellon, as Depositary under the Deposit Agreement.

"<u>Environmental Laws</u>" shall have the meaning set forth in Section 4.13.

"<u>Exchange Act</u>" shall mean the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"<u>Excluded Day</u>" shall have the meaning set forth in Section 2.01(d)(i).

"<u>Hazardous Materials</u>" shall have the meaning set forth in Section 4.13.

"<u>Home Country Practice</u>" shall have the meaning set forth in Section 2.01(c)(iii).

"<u>Indemnified Liabilities</u>" shall have the meaning set forth in Section 5.01.

"<u>Investor</u>" shall have the meaning set forth in the preamble of this Agreement.

"<u>Investor Indemnitees</u>" shall have the meaning set forth in Section 5.01.

"<u>Market Price</u>" shall mean the lowest of the daily VWAPs of the ADSs during the relevant Pricing Period, other than the daily VWAP on any Excluded Days.

"<u>Material Adverse Effect</u>" shall mean any event, occurrence or condition that has had or would reasonably be expected to have (i) a material adverse effect on the legality, validity or enforceability of this Agreement or the transactions contemplated herein, (ii) a material adverse effect on the results of operations, assets, business or condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company's ability to perform in any material respect on a timely basis its obligations under this Agreement.

"<u>Material Outside Event</u>" shall have the meaning set forth in Section 6.08.

"<u>Maximum Advance Amount</u>" in respect of each Advance Notice means a number of ordinary shares underlying the ADSs that is equal to 9.99% of the outstanding ordinary shares of the Company.

"<u>Minimum Acceptable Price</u>" or "<u>MAP</u>" shall mean the minimum price notified by the Company to the Investor in each Advance Notice, if applicable.

"<u>OFAC</u>" shall have the meaning set forth in Section 4.29.

"<u>Ordinary Shares</u>" shall have the meaning set forth in the recitals of this Agreement.

"<u>Ownership Limitation</u>" shall have the meaning set forth in Section 2.01(c)(i).

"<u>Person</u>" shall mean an individual, a corporation, a partnership, a limited liability company, a trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.

"<u>Plan of Distribution</u>" shall mean the section of a Registration Statement disclosing the plan of distribution of the Shares.

"<u>Pricing Period</u>" shall mean the three (3) consecutive Trading Days commencing on the Advance Notice Date, unless otherwise agreed by the Parties.

"<u>Principal Market</u>" shall mean the Nasdaq Stock Market; provided however, that in the event the ADSs are ever listed or traded on the New York Stock Exchange, or the NYSE American, then the "Principal Market" shall mean such other market or exchange on which the ADSs are then listed or traded to the extent such other market or exchange is the principal trading market or exchange for the ADSs.

"<u>Prospectus</u>" shall mean any prospectus (including, without limitation, all amendments and supplements thereto) used by the Company in connection with a Registration Statement.

"<u>Prospectus Supplement</u>" shall mean any prospectus supplement to a Prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act, including, without limitation, any prospectus supplement to be filed in accordance with 0 hereof.

"<u>Purchase Price</u>" shall mean the price per Advance Share obtained by multiplying the Market Price by 97%.

"<u>Registrable Securities</u>" shall mean (i) the Shares, and (ii) any securities issued or issuable with respect to any of the Shares by way of exchange, stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise.

"<u>Registration Limitation</u>" shall have the meaning set forth in Section 2.01(c)(ii).

"<u>Registration Statement</u>" shall mean a registration statement on Form F-1 or Form F-3 or on such other form promulgated by the SEC for which the Company then qualifies and which counsel for the Company shall deem appropriate, and which form shall be available for the registration of the resale by the Investor of the Registrable Securities under the Securities Act, which registration statement provides for the resale from time to time of the Shares as provided herein.

"<u>Regulation D</u>" shall mean the provisions of Regulation D promulgated under the Securities Act.

"<u>Sanctions</u>" shall have the meaning set forth in Section 4.29.

"<u>Sanctioned Countries</u>" shall have the meaning set forth in Section 4.29.

"<u>SEC</u>" shall mean the U.S. Securities and Exchange Commission.

"<u>SEC Documents</u>" shall have the meaning set forth in Section 4.05.

"<u>Securities Act</u>" shall have the meaning set forth in the recitals of this Agreement.

"<u>Settlement Document</u>" shall have the meaning set forth in Section 2.02(a).

"<u>Shares</u>" shall mean the Commitment Shares and the ADSs to be issued from time to time hereunder pursuant to an Advance.

"<u>Subsidiaries</u>" shall mean any Person in which the Company, directly or indirectly, (x) owns a majority of the outstanding capital stock or holds a majority of the equity or similar interest of such Person or (y) controls or operates all or substantially all of the business, operations or administration of such Person, and the foregoing are collectively referred to herein as "<u>Subsidiaries</u>."

"<u>Trading Day</u>" shall mean any day during which the Principal Market shall be open for business.

"<u>Transaction Documents</u>" means, collectively, this Agreement and each of the other agreements and instruments entered into or delivered by any of the parties hereto in connection with the transactions contemplated hereby and thereby, as may be amended from time to time.

"<u>Variable Rate Transaction</u>" shall mean a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional ADSs or Ordinary Shares either (A) at a conversion price, exercise price, exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the ADSs or Ordinary Shares at any time after the initial issuance of such equity or debt securities, or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such equity or debt security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the ADSs or Ordinary Shares (including, without limitation, any "full ratchet" or "weighted average" anti-dilution provisions, but not including any standard anti-dilution protection for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction), or (ii) enters into any agreement, including but not limited to an "equity line of credit" or other similar continuous offering of ADSs or Ordinary Shares (including an at-the-market offering program with a registered broker-dealer (an "<u>ATM</u>")).

"<u>Volume Threshold</u>" shall mean a number of ADSs equal to the quotient of (a) the number of Advance Shares requested by the Company in an Advance Notice divided by (b) 0.25.

"<u>VWAP</u>" shall mean for any Trading Day or specified period, the volume weighted average price of the Common Shares on the Principal Market, for such period as reported by Bloomberg L.P. through its "AQR" function.

**<u>ANNEX II</u>**

**<u>CONDITIONS PRECEDENT TO THE INVESTOR'S OBLIGATION TO FUND THE PRE-PAID ADVANCE</u>**

The obligation of the Investor to advance to the Company the Pre-Paid Advance hereunder at the Pre-Advance Closing is subject to the satisfaction, as of the date of issuance of the Promissory Note, of each of the following conditions, provided that these conditions are for the Investor's sole benefit and may be waived by the Investor at any time in its sole discretion by providing the Company with prior written notice thereof:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company shall have duly executed and delivered to the Investor each of the Transaction Documents
 to which it is a party and the Company shall have duly executed and delivered to the Investor
 the Promissory Note with a principal amount corresponding to the amount of the Pre-Paid Advance
 (before any deductions made thereto).

&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Investor shall have received an opinion letter from counsel to the Company in form and substance
 to the satisfaction of the Investor, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Investor shall have received a closing statement in a form to be agreed by the parties, duly
 executed by an officer of the Company, setting forth wire transfer instructions of the Company
 for the payment of the amount of the Pre-Paid Advance, the amount to be paid by the Investor,
 which shall be 97% of the full amount of the Pre-Paid Advance, and any other deductions that
 may be agreed by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The
 Company shall have delivered to the Investor copies of its and each Subsidiaries certified
 copies of its charter, as well as any shareholder or operating agreements by or among the
 shareholders or members of any of the Company's Subsidiaries, if any.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 Company shall have delivered to the Investor a certificate evidencing the incorporation and
 good standing of the Company as of a date within ten (10) days of the Pre-Advance Closing
 date.

&nbsp;&nbsp;&nbsp;&nbsp;(f) The
 board of directors of the Company has approved the transactions contemplated by the Transaction
 Documents; said approval has not been amended, rescinded or modified and remains in full
 force and effect as of the date hereof, and a true, correct and complete copy of such resolutions
 duly adopted by the board of directors of the Company shall have been provided to the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Each
 and every representation and warranty of the Company shall be true and correct in all material
 respects (other than representations and warranties qualified by materiality, which shall
 be true and correct in all respects) as of the date when made and as of the date of the Pre-Advance
 Closing as though originally made at that time (except for representations and warranties
 that speak as of a specific date, which shall be true and correct as of such specific date)
 and the Company shall have performed, satisfied and complied in all respects with the covenants,
 agreements and conditions set forth in each Transaction Document required to be performed,
 satisfied or complied with by the Company at or prior to the Pre-Advance Closing date.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Trading
 in the ADSs shall not have been suspended by the SEC, the Principal Market or FINRA, the
 Company shall not have received any final and non-appealable notice that the listing or quotation
 of the ADSs on the Principal Market shall be terminated on a date certain (unless, prior
 to such date certain, the ADSs is listed or quoted on any subsequent Principal Market), nor
 shall there have been imposed any suspension of, or restriction on, accepting additional
 deposits of the ADSs, electronic trading or book-entry services by DTC with respect to the
 ADSs that is continuing, the Company shall not have received any notice from DTC to the effect
 that a suspension of, or restriction on, accepting additional deposits of the ADSs, electronic
 trading or book-entry services by DTC with respect to the ADSs is being imposed or is contemplated
 (unless, prior to such suspension or restriction, DTC shall have notified the Company in
 writing that DTC has determined not to impose any such suspension or restriction).

&nbsp;&nbsp;&nbsp;&nbsp;(i) Since
 the date of execution of this Agreement, no event or series of events shall have occurred
 that has resulted in or would reasonably be expected to result in a Material Adverse Effect,
 or an Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The
 Company shall have delivered to the Investor a compliance certificate executed by the chief
 executive officer of the Company certifying that Company has complied with all of the conditions
 precedent to the funding of the Pre-Paid Advance set forth herein and which may be relied
 upon by the Investor as evidence of satisfaction of such conditions without any obligation
 to independently verify.

**EXHIBIT A<br> ADVANCE NOTICE**

**SAVERONE 2014 LTD.**

**Dated: ______________ Advance Notice Number: ____**

The undersigned, _______________________, hereby certifies, with respect to the sale of ADSs of SAVERONE 2014 LTD. (the "<u>Company</u>") issuable in connection with this Advance Notice, delivered pursuant to that certain Standby Equity Purchase Agreement, dated as of [________] (the "<u>Agreement</u>"), as follows (with capitalized terms used herein without definition having the same meanings as given to them in the Agreement):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The undersigned is the duly elected ______________ of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. There are no fundamental changes to the information set forth in the Registration Statement which would require the Company to file a post-effective amendment to the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Company has performed in all material respects all covenants and agreements to be performed by the Company contained in the Agreement on or prior to the Advance Notice Date. All conditions to the delivery of this Advance Notice are satisfied as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The number of Advance Shares the Company is requesting is _____________________.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Minimum Acceptable Price with respect to this Advance Notice is _________ (if left blank then no Minimum Acceptable Price will be applicable to this Advance).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The number of Ordinary Shares of the Company outstanding as of the date hereof is ___________.

The undersigned has executed this Advance Notice as of the date first set forth above.

---

| |
|:---|
| **SAVERONE 2014 LTD.** |
| By: |

---

Please deliver this Advance Notice by email to:

Email: Trading@yorkvilleadvisors.com

Attention: Trading Department and Compliance Officer

Confirmation Telephone Number: (201) 985-8300.

**EXHIBIT B**

**SETTLEMENT DOCUMENT**

**<u>VIA EMAIL</u>**

SAVERONE 2014 LTD.

Attn:

Email:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;Below please find the settlement information with respect to the Advance Notice Date of: |
| &nbsp;&nbsp;1.a | &nbsp;&nbsp;Number of ADSs requested in the Advance Notice |
| &nbsp;&nbsp;1.b. | &nbsp;&nbsp;Volume Threshold (Number of ADSs in (1) divided by 0.25 |
| &nbsp;&nbsp;1.c. | &nbsp;&nbsp;Number of ADSs traded during Pricing Period |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Minimum Acceptable Price for this Advance (if any) |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Number of Excluded Days (if any) |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Adjusted Advance Amount (if applicable) (including pursuant to Volume Threshold adjustment)) |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Market Price |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Purchase Price (Market Price x 97%) per share |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Number of Advance Shares due to the Investor |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Total Purchase Price due to Company (row 6 x row 7) |

---

***<u>If there were any Excluded Days then add the following</u>***

9. Number
 of Additional Shares to be issued to the Investor

10. Additional
 amount to be paid to the Company by the Investor (Additional Shares in row 9 x Minimum Acceptable Price x 97%)

11. Total
 Amount to be paid to the Company (Purchase Price in row 8 + additional amount in row 10)

12. Total
 Advance Shares to be issued to the Investor (Advance Shares due to the Investor in row 7 + Additional Shares in row 9)

**<br>** 

<br> **Please issue the number of Advance Shares due to the Investor to the account of the Investor as follows:**

**Investor's DTC participant #** **:**

**ACCOUNT NAME**:

**ACCOUNT NUMBER**:

**ADDRESS**:

**CITY**:

**COUNTRY**:

**Contact person**:

**Number and/or email**:

**Sincerely,** 

**YA II PN, LTD.**

**Agreed and approved By SAVERONE 2014 LTD.:**

__________________________________

**Name:** 

**Title:**

**EXHIBIT C**

**FORM OF PROMISORY NOTE**

## Exhibit 99.2

**Exhibit 99.2**

**THIS HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS NOTE HAS BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "<u>SECURITIES ACT</u>"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.**

SAVERONE 2014 LTD.

**Promissory Note**

**Original Principal Amount: $1,500,000**

**Issuance Date: October 30, 2025**

**Number: SVRE-7**

**FOR VALUE RECEIVED,** SAVERONE 2014 LTD., an entity organized under the laws of the State of Israel (the "<u>Company</u>"), hereby promises to pay to the order of YA II PN, LTD., or its registered assigns (the "<u>Holder</u>"), the amount set out above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to repayment, redemption, conversion or otherwise, the "<u>Principal</u>"), in each case when due, and to pay interest ("<u>Interest</u>") on any outstanding Principal at the applicable Interest Rate (as defined below) from the date set out above as the Issuance Date (the "<u>Issuance Date</u>") until the same becomes due and payable, whether upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof). Certain capitalized terms used herein are defined in Section (10). The Issuance Date is the date of the first issuance of this Promissory Note (the "<u>Note</u>") regardless of the number of transfers and regardless of the number of instruments, which may be issued to evidence such Note. This Note was issued with a 3% purchase discount.

This Note is being issued pursuant to Section 2.05 of the Standby Equity Purchase Agreement, dated October 30, 2025 (as may be amended, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the "<u>SEPA</u>"), between the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>GENERAL TERMS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Maturity Date</u>. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal, accrued and unpaid Interest, and any other amounts outstanding pursuant to the terms of this Note. The "<u>Maturity Date</u>" shall be October 30, 2027, as may be extended with the prior written consent of the Holder. Other than as specifically permitted by this Note, the Company may not prepay or redeem any portion of the outstanding Principal and accrued and unpaid Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interest Rate and Payment of Interest</u>. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 8% ("<u>Interest Rate</u>"), which Interest Rate shall increase to an annual rate of 18% upon an Event of Default for so long as it remains uncured. Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Monthly Payments</u>. On or before each date (each, an "<u>Installment Date</u>") set forth on the repayment schedule attached hereto as <u>Exhibit I</u> (the "<u>Repayment Schedule</u>"), the Company shall repay a portion of the outstanding balance of this Note in an amount equal to the Principal amount set forth on the Repayment Schedule as of such Repayment Date, plus all accrued and unpaid Interest on this Note as of such Installment Date (collectively, the "<u>Installment Amount</u>"). With respect to the payment of any Installment Amount by the Company hereunder, the Company shall, at its own option, repay each Installment Amount either (i) in cash on or before the Installment Date, or (ii) by submitting an Advance Notice (as defined in the SEPA) (an "<u>Advance Repayment</u>"), or a series of Advance Notices, each with an Advance Date (as defined in the SEPA) on or before the applicable Instalment Date, or any combination of (i) or (ii) as determined by the Company. In respect of any Installment Amount, or portion thereof, to be repaid by the Company in accordance with (i) of this Section 1(c), the Company shall pay to the Holder such Installment Amount to the Holder by wire transfer of immediately available funds in cash on or before such Installment Date. If the Company elects an Advance Repayment in accordance with (ii) of this Section 1(c), for all or a portion of an Installment Amount, then the Company shall deliver an Advance Notice to the Holder in accordance with the terms and conditions of the SEPA, that will have an Advance Date on or before the applicable Installment Date. Upon the closing of such Advance Notice in accordance with the SEPA, the Holder shall offset the amount due to be paid by the Holder to the Company under the SEPA against an equal amount of the Installment Amount to be paid by the Advance Repayment. If, on the Installment Date any portion of the Installment Amount remains unpaid, the Company shall repay such outstanding Payment Amount as a cash repayment pursuant to (i) of this Section 1(c). The Repayment Schedule may be modified from time to time upon mutual 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Payment Dates</u>. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Prepayment</u>. The Company may prepay at any time and from time to time, in whole or in part, the outstanding Principal balance and accrued interest on the Principal amount being prepaid to the date of repayment.

&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) <u>EVENTS OF DEFAULT</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) An "<u>Event of Default</u>", wherever used herein, means any one of the following events (whatever the reason and whether it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Company's failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note or any other Transaction Document within five (5) days of written notice thereof from the Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company or any Subsidiary of the Company shall commence, or there shall be commenced against the Company or any Subsidiary of the Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Company or any Subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Company or any Subsidiary of the Company any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of sixty one (61) days; or the Company or any Subsidiary of the Company is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Company or any Subsidiary of the Company suffers any appointment of any custodian, private or court appointed receiver or the like for it or all or substantially all of its property which continues undischarged or unstayed for a period of sixty one (61) days; or the Company or any Subsidiary of the Company makes a general assignment of all or substantially all of its assets for the benefit of creditors; or the Company or any Subsidiary of the Company shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Company or any Subsidiary of the Company shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; or the Company or any Subsidiary of the Company shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Company or any Subsidiary of the Company for the purpose of effecting any of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Company or any Subsidiary of the Company shall default beyond applicable grace and cure periods in any of its obligations under any other debenture or any, mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement of the Company or any Subsidiary of the Company in an amount exceeding $100,000, whether such indebtedness now exists or shall hereafter be created and such default shall result in such indebtedness becoming or being declared due and payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The ADSs shall cease to be quoted or listed for trading, as applicable, on any Primary Market for a period of ten (10) consecutive Trading Days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Company's failure to timely file with the Commission any Periodic Report on or before the due date of such filing as established by the Commission, it being understood, for the avoidance of doubt, that due date includes any permitted filing deadline extension under Rule 12b-25 under 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Any representation or warranty made or deemed to be made by the Company in or in connection with any Transaction Document, or any waiver hereunder or thereunder, shall prove to have been incorrect in any material respect (or, in the case of any such representation or warranty already qualified by materiality, such representation or warranty shall prove to have been incorrect) when made or deemed made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Any material provision of any Transaction Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder, ceases to be in full force and effect; or the Company or any other Person contests in writing the validity or enforceability of any provision of any Transaction Document; or the Company denies in writing that it has any or further liability or obligation under any Transaction Document, or purports in writing to revoke, terminate (other than in line with the relevant termination provisions) or rescind any Transaction Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Company uses the proceeds of the issuance of this Note, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulations T, U and X the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof), or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) Any Event of Default (as defined in any Transaction Document other than this Note) occurs with respect to any Transaction Document, or any breach of any material term of any other debenture, note, or instrument held by the Holder in the Company or any agreement between or among the Company and the Holder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) The Company shall fail to observe or perform any material covenant, agreement or warranty contained in, or otherwise commit any material breach or default of any provision of this Note (except as may be covered by Section (3)(a)(i) through (3)(a)(ix) hereof) or any other Transaction Document, which is not cured or remedied within the time prescribed therein, or if no time is prescribed, withing ten (10) Business Days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the time that any portion of this Note is outstanding, if any Event of Default has occurred and is continuing, (other than an event with respect to the Company described in Section (2)(a)(ii)), the full unpaid Principal amount of this Note, together with interest and other amounts owing in respect thereof, to the date of acceleration shall become at the Holder's election given by notice pursuant to Section (4), immediately due and payable in cash; provided that, in the case of any event with respect to the Company described in Section (2)(a)(ii), the full unpaid Principal amount of this Note, together with interest and other amounts owing in respect thereof to the date of acceleration, shall automatically become due and payable, in each case without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Company. The Holder need not provide and the Company hereby waives any presentment, demand, protest or other notice of any kind, (other than required notice of conversion) and the Holder may immediately enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded and annulled by the Holder in writing at any time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. For the purposes hereof, an Event of Default relating to default in payment is "*continuing*" if it has not been waived, and an Event of Default relating to circumstances other than a default in payment is "*continuing*" if it has not been remedied or waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>REISSUANCE OF THIS NOTE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer</u>. If this Note is to be transferred, the Holder shall surrender this Note to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Note (in accordance with Section (3)(d)), registered in the name of the registered transferee or assignee, representing the outstanding Principal being transferred by the Holder (along with any accrued and unpaid interest thereof) and, if less then the entire outstanding Principal is being transferred, a new Note (in accordance with Section (3)(d)) to the Holder representing the outstanding Principal not being transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Lost, Stolen or Mutilated Note</u>. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall execute and deliver to the Holder a new Note (in accordance with Section (3)(d)) representing the outstanding Principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Note Exchangeable for Different Denominations</u>. This Note is exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for a new Note or Notes (in accordance with Section (3)(d)) representing in the aggregate the outstanding Principal of this Note, and each such new Note will represent such portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Issuance of New Notes</u>. Whenever the Company is required to issue a new Note pursuant to the terms hereof, such new Note (i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal remaining outstanding, (iii) shall have an issuance date, as indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have the same rights and conditions as this Note, and (v) shall represent accrued and unpaid Interest from the Issuance 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;(4) <u>NOTICES</u>. Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in writing by letter and email and will be deemed to have been delivered: upon the later of (A) either (i) receipt, when delivered personally or (ii) one (1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed to the party to receive the same and (B) receipt, when sent by electronic mail. The addresses and e-mail addresses for such communications shall be:

---

| | |
|:---|:---|
| If to the Company, to: | SaverOne 2014 Ltd. |
|  | Em Hamoshavot Rd. 94 Petah Tikvah, Israel |
|  | Telephone: +972-39094177 |
|  | Email: OriG@saver.one |

---

---

| | |
|:---|:---|
| with a copy (which shall not constitute notice) to: | David Aboudi |
|  | Aboudi Legal Group PLLC 745 Fifth Avenue |
|  | New York NY 10151 |
|  | Email: daboudi@cronelawgroup.com |
| If to the Holder: YA II PN, Ltd | If to the Holder: YA II PN, Ltd |
|  | c/o Yorkville Advisors Global, LLC 1012 Springfield Avenue |
|  | Mountainside, NJ 07092 |
|  | Attention: Mark Angelo |
|  | Telephone: 201-985-8300 |
|  | Email: Legal@yorkvilleadvisors.com |

---

or at such other address and/or email and/or to the attention of such other person as the recipient party has specified by written notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient of such notice, consent, waiver or other communication, (ii) electronically generated by the sender's email service provider containing the time, date, recipient email address or (iii) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by email or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Except as expressly provided herein, no provision of this Note shall alter or impair the obligations of the Company, which are absolute and unconditional, to pay the Principal of, interest and other charges (if any) on, this Note at the time, place, and rate, and in the currency, herein prescribed. This Note is a direct obligation of the Company. As long as this Note is outstanding, the Company shall not and shall cause their subsidiaries not to, without the consent of the Holder, amend its certificate of incorporation, bylaws or other charter documents so as to adversely affect any rights of the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) <u>CHOICE OF LAW; VENUE; WAIVER OF JURY TRIAL</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Governing Law</u>. This Note and the rights and obligations of the Parties hereunder shall, in all respects, be governed by, and construed in accordance with, the laws (excluding the principles of conflict of laws) of the State of New York (the "<u>Governing Jurisdiction</u>") (including Section 5-1401 and Section 5-1402 of the General Obligations Law of the State of New York), including all matters of construction, validity and performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Jurisdiction; Venue; Service.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company hereby irrevocably consents to the non-exclusive personal jurisdiction of the state courts of the Governing Jurisdiction and, if a basis for federal jurisdiction exists, the non-exclusive personal jurisdiction of any United States District Court for the Governing Jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Company agrees that venue shall be proper in any court of the Governing Jurisdiction selected by the Holder or, if a basis for federal jurisdiction exists, in any United States District Court in the Governing Jurisdiction. The Company waives any right to object to the maintenance of any suit, claim, action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, in any of the state or federal courts of the Governing Jurisdiction on the basis of improper venue or inconvenience of forum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Any suit, claim, action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or tort or otherwise, brought by the Company against the Holder arising out of or based upon this Note or any matter relating to this Note, or any other Transaction Document, or any contemplated transaction, shall be brought in a court only in the Governing Jurisdiction. The Company shall not file any counterclaim against the Holder in any suit, claim, action, litigation or proceeding brought by the Holder against the Company in a jurisdiction outside of the Governing Jurisdiction unless under the rules of the court in which the Holder brought such suit, claim, action, litigation or proceeding the counterclaim is mandatory, and not permissive, and would be considered waived unless filed as a counterclaim in the suit, claim, action, litigation or proceeding instituted by the Holder against the Company. The Company agrees that any forum outside the Governing Jurisdiction is an inconvenient forum and that any suit, claim, action, litigation or proceeding brought by the Company against the Holder in any court outside the Governing Jurisdiction should be dismissed or transferred to a court located in the Governing Jurisdiction. Furthermore, the Company irrevocably and unconditionally agrees that it will not bring or commence any suit, claim, action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Holder arising out of or based upon this Note or any matter relating to this Note, or any other Transaction Document, or any contemplated transaction, in any forum other than the courts of the State of New York sitting in New York County, and the United States District Court of the Southern District of New York, and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such suit, claim, action, litigation or proceeding may be heard and determined in such New York State Court or, to the fullest extent permitted by applicable law, in such federal court. The Company and the Holder agree that a final judgment in any such suit, claim, action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The Company and the Holder irrevocably consent to the service of process out of any of the aforementioned courts in any such suit, claim, action, litigation or proceeding by the mailing of copies thereof by registered or certified mail postage prepaid, to it at the address provided for notices in this Note, such service to become effective thirty (30) days after the date of mailing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Nothing herein shall affect the right of the Holder to serve process in any other manner permitted by law or to commence legal proceedings or to otherwise proceed against the Company or any other Person in the Governing Jurisdiction or in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) THE PARTIES MUTUALLY WAIVE ALL RIGHT TO TRIAL BY JURY OF ALL CLAIMS OF ANY KIND ARISING OUT OF OR BASED UPON THIS NOTE OR ANY MATTER RELATING TO THIS NOTE, OR ANY OTHER TRANSACTION DOCUMENT, OR ANY CONTEMPLATED TRANSACTION. THE PARTIES ACKNOWLEDGE THAT THIS IS A WAIVER OF A LEGAL RIGHT AND THAT THE PARTIES EACH MAKE THIS WAIVER VOLUNTARILY AND KNOWINGLY AFTER CONSULTATION WITH COUNSEL OF THEIR RESPECTIVE CHOICE. THE PARTIES AGREE THAT ALL SUCH CLAIMS SHALL BE TRIED BEFORE A JUDGE OF A COURT HAVING JURISDICTION, WITHOUT A JURY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) If the Company fails to strictly comply with the terms of this Note, then the Company shall reimburse the Holder promptly for all fees, costs and expenses, including, without limitation, attorneys' fees and expenses incurred by the Holder in any action in connection with this Note, including, without limitation, those incurred: (i) during any workout, attempted workout, and/or in connection with the rendering of legal advice as to the Holder's rights, remedies and obligations, (ii) collecting any sums which become due to the Holder, (iii) defending or prosecuting any proceeding or any counterclaim to any proceeding or appeal; or (iv) the protection, preservation or enforcement of any rights or remedies of the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be 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;(9) If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder shall violate applicable laws governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum permitted rate of interest. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the Principal of or Interest on this Note as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impeded the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) <u>CERTAIN DEFINITIONS.</u> For purposes of this Note, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>ADSs</u>" means the Company's American Depository Shares, each ADS currently representing 3,600 ordinary shares of the Company, par value NIS 0.01 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "<u>Business Day</u>" means any day except Saturday, Sunday and any day which shall be a federal legal holiday in the United States or a day on which banking institutions are authorized or required by law or other government action to close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Commission</u>" means the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "<u>Periodic Reports</u>" shall mean the Company's (i) Annual Report on Form 20-F, (ii) any financial report to be filed on Form 6-K and (iii) all other reports required to be filed by the Company with the Commission under applicable laws and regulations (including, without limitation, Regulation S-K) for so long as any amounts are outstanding under this Note; *provided* that all such Periodic Reports shall include, when filed, all information, financial statements, audit reports (when applicable) and other information required to be included in such Periodic Reports in compliance with all applicable laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Person</u>" means a corporation, an association, a partnership, organization, a business, an individual, a government or political subdivision thereof or a governmental agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Primary Market</u>" shall mean the Nasdaq Stock Market; provided however, that in the event the ADSs are ever listed or traded on the New York Stock Exchange, or the NYSE American, then the "Principal Market" shall mean such other market or exchange on which the shares of Common Stock are then listed or traded to the extent such other market or exchange is the principal trading market or exchange for the ADSs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Securities Act</u>" means the Securities Act of 1933, as amended, 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;(i) "<u>Subsidiary</u>" means, with respect to any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) "<u>Trading Day</u>" shall mean any day during which the Primary Market shall be open for business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "<u>Transaction Document</u>" means, each of, the SEPA, and any and all documents, agreements, instruments or other items executed or delivered in connection with any of the foregoing.

**[Signature Page Follows]**

**IN WITNESS WHEREOF**, the Company has caused this Promissory Note to be duly executed by a duly authorized officer as of the date set forth above.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **SAVERONE 2014 LTD.** | **SAVERONE 2014 LTD.** |
| By: | /s/ Ori Gilboa |
| Name: | Ori Gilboa |
| Title: | Chief Executive Officer |

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**EXHIBIT I<br> <u>REPAYMENT SCHEUDLE</u>**

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| | |
|:---|:---|
| &nbsp;&nbsp;Principal Amount: | &nbsp;&nbsp;$1500000 |
| &nbsp;&nbsp;Issuance Date: | &nbsp;&nbsp;10/30/2025 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **Days Following Issuance Date** | **Installment Date** | **Principal Amount** | **Accrued and Unpaid Interest(1)** | **Installment Amount** |
| &nbsp;&nbsp;90 | &nbsp;&nbsp;January 28, 2026 | $150000 | $29589 | $179589 |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;February 27, 2026 | $150000 | $8877 | $158877 |
| &nbsp;&nbsp;150 | &nbsp;&nbsp;March 29, 2026 | $150000 | $7890 | $157890 |
| &nbsp;&nbsp;180 | &nbsp;&nbsp;April 28, 2026 | $150000 | $6904 | $156904 |
| &nbsp;&nbsp;210 | &nbsp;&nbsp;May 28, 2026 | $150000 | $5918 | $155918 |
| &nbsp;&nbsp;240 | &nbsp;&nbsp;June 27, 2026 | $150000 | $4932 | $154932 |
| &nbsp;&nbsp;270 | &nbsp;&nbsp;July 27, 2026 | $150000 | $3945 | $153945 |
| &nbsp;&nbsp;300 | &nbsp;&nbsp;August 26, 2026 | $150000 | $2959 | $152959 |
| &nbsp;&nbsp;330 | &nbsp;&nbsp;September 25, 2026 | $150000 | $1973 | $151973 |
| &nbsp;&nbsp;360 | &nbsp;&nbsp;October 25, 2026 | $150000 | $986 | $150986 |
|  |  | $**1500000** | $**73973** | $**1573973** |

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(1) Actual accrued interest may differ.