# EDGAR Filing Document

**Accession Number:** 0001871983
**File Stem:** 0001104659-25-070856
**Filing Date:** 2025-7
**Character Count:** 327643
**Document Hash:** b15ab0241422ab95e1493592815c6ead
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-070856.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001104659-25-070856

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

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Anghami Inc
- **CENTRAL INDEX KEY:** 0001871983
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATION SERVICES, NEC [4899]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93888
- **FILM NUMBER:** 251152185

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 16TH FLOOR, AL-KHATEM TOWER
- **STREET 2:** ABU DHABI GLOBAL MARKET SQUARE
- **CITY:** AL MARYAH ISLAND, ABU DHABI
- **NON US STATE TERRITORY:** ABU DHABI
- **PROVINCE COUNTRY:** C0
- **BUSINESS PHONE:** 097144584251

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 16TH FLOOR, AL-KHATEM TOWER
- **STREET 2:** ABU DHABI GLOBAL MARKET SQUARE
- **CITY:** AL MARYAH ISLAND, ABU DHABI
- **NON US STATE TERRITORY:** ABU DHABI
- **PROVINCE COUNTRY:** C0
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OSN Streaming Ltd
- **CENTRAL INDEX KEY:** 0002018653

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** C0
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** OSN BUILDING 1
- **STREET 2:** DUBAI MEDIA CITY
- **CITY:** DUBAI
- **STATE:** C0
- **ZIP:** 00000
- **BUSINESS PHONE:** 971-0-43-67-7717

**MAIL ADDRESS:**
- **STREET 1:** OSN BUILDING 1
- **STREET 2:** DUBAI MEDIA CITY
- **CITY:** DUBAI
- **STATE:** C0
- **ZIP:** 00000

## Exhibit 99.13

**Exhibit 13**

**PRIVATE & CONFIDENTIAL** 

**EXECUTION**

**DATED 23 July 2025**

**Shareholders Agreement**

relating to

**OSN STREAMING LIMITED** 

between

**OSN STREAMING LIMITED**<br> as the Company

and

**THE PERSONS SET OUT IN SCHEDULE 1**

![](tm2521677d1_ex13img013.jpg)

**Table of Contents**

---

| | | |
|:---|:---|:---|
|  |  | **Page** |
| 1. | DEFINITIONS AND INTERPRETATION | 1 |
| 2. | EFFECTIVE DATE | 16 |
| 3. | ROLE OF THE BOARD, COMPOSITION AND APPOINTMENT RIGHTS | 16 |
| 4. | BOARD QUORUM REQUIREMENTS | 18 |
| 5. | PROCEEDINGS AND VOTING AT MEETINGS | 18 |
| 6. | CONDUCT OF BUSINESS | 19 |
| 7. | PROVISION OF INFORMATION | 22 |
| 8. | SECONDARY TAX LIABILITIES | 23 |
| 9. | FUNDING | 24 |
| 10. | NEW ISSUES OF SECURITIES | 25 |
| 11. | TRANSFERS OF SECURITIES | 28 |
| 12. | DEED OF ADHERENCE | 30 |
| 13. | EXIT AND REFINANCING | 30 |
| 14. | REORGANISATION TRANSACTIONS | 32 |
| 15. | TAX MATTERS | 32 |
| 16. | ANNOUNCEMENTS | 34 |
| 17. | CONFIDENTIALITY | 34 |
| 18. | FEES, COSTS AND EXPENSES | 35 |
| 19. | RELATIONSHIP OF AGREEMENT TO TRANSACTION DOCUMENTS | 35 |
| 20. | DURATION | 35 |
| 21. | VARIATIONS AND WAIVERS | 36 |
| 22. | ENTIRE AGREEMENT | 36 |
| 23. | ASSIGNMENT | 37 |
| 24. | COUNTERPARTS | 37 |
| 25. | FURTHER ASSURANCE | 37 |
| 26. | OTHER REMEDIES | 37 |
| 27. | LIABILITY | 38 |
| 28. | THIRD PARTY RIGHTS | 38 |
| 29. | INVALIDITY | 38 |
| 30. | NOTICES | 38 |
| 31. | CAPACITY | 40 |
| 32. | GOVERNING LAW AND JURISDICTION | 40 |

---

---

| | | |
|:---|:---|:---|
| Schedule 1 | INVESTORS | 43 |
| Schedule 2 | CORPORATE GOVERNANCE | 44 |
| Schedule 3 | CONDUCT OF BUSINESS | 47 |
| Schedule 4 | RIGHT OF FIRST OFFER | 49 |
| Schedule 5 | TAG-ALONG | 55 |
| Schedule 6 | DRAG-ALONG | 59 |
| Schedule 7 | DEED OF ADHERENCE | 61 |

---

i

**THIS AGREEMENT** is made on 23 July 2025

**BETWEEN:**

**(1)** **OSN STREAMING LIMITED** a Cayman Islands exempted company with registration number 404857, whose
registered office is at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands (the "**Company** ");
and

**(2)** **The Persons** whose names and addresses are set out in Schedule 1 (*Investors*) and any person
who adheres to this Agreement from time to time as an Investor pursuant to a Deed of Adherence in accordance with this Agreement (together,
the "**Investors**" and each an "**Investor** ").

**WHEREAS:**

**(A)** The WBD Investor acquired certain Ordinary Shares from the Lead Investor on or around the date of this
Agreement pursuant to the Acquisition Agreement.

**(B)** The Investors and the Company have agreed to regulate their affairs in relation to the Company and the
Company's ownership of shares of Anghami on the terms and conditions of this Agreement.

**IT IS AGREED AS FOLLOWS:**

**1.** **DEFINITIONS AND INTERPRETATION** 

**1.1** The following words and expressions where used in this Agreement have the meanings given to them below:

"**Accelerated Issue**" has the meaning given to it in Clause 10.2;

"**Accepted ROFO Shareholders**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**Acquisition Agreement**" means the agreement dated 23 March 2025 between the Lead Investor, the WBD Investor and Discovery Communications, LLC relating to the acquisition of certain Ordinary Shares by the WBD Investor from the Lead Investor;

"**Act**" means the Cayman Islands Companies Act (as revised);

"**Additional Funding**" has the meaning given to it in Clause 9.1;

"**Affected Security Holders**" has the meaning given to it in Clause 10.2;

"**Affiliate**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in relation to any person that is an undertaking, a person that directly, or indirectly, through one or
more intermediaries, Controls, is Controlled by, or is under common Control with, the person specified;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in relation to any person that is an individual, any spouse, civil partner, co-habitee, grandparents (and
the grandparents of the spouse, civil partner or co-habitee) and all lineal descendants by blood or adoption of those grandparents, and
any person or persons acting in its or their capacity as trustee or trustees of a trust of which such individual is the settlor;

"**Agreement**" means this shareholders' agreement;

"**Alternate Director**" has the meaning given to it paragraph 4 of Part 1 of Schedule 2 (*Corporate Governance*);

"**AML Laws**" means all Applicable Laws concerning anti-money laundering, financial record keeping, anti-fraud or anti-terrorist financing;

"**Anghami**" means Anghami Inc., a Cayman Islands exempted company with registration number 372207, whose registered office is at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands;

"**Anghami Audit Committee Observer**" has the meaning given to it in Clause 3.3;

"**Anghami Board**" means the board of directors of Anghami;

"**Anghami Board Observer**" has the meaning given to it in Clause 3.3;

"**Anghami FZ**" means Anghami FZ LLC, a Dubai Development Authority company with registration number 92176, whose registered office is at No. 254/255, 2<sup>nd</sup> Floor, Building 17, Dubai Internet City, Dubai, United Arab Emirates;

"**Anghami Group**" means Anghami and any direct or indirect subsidiary of Anghami from time to time and references to "**Anghami Group Company**" and "**member of the Anghami Group**" shall be construed accordingly;

"**Annual Budget**" means the annual operating budget of the Group (including Anghami), initially prepared in accordance with Clause 6.5 and then as adopted and/or amended from time to time in accordance with this Agreement;

"**Anti-Corruption Laws**" means all Applicable Laws concerning or relating to anti-bribery, anti-corruption and anti-kickback matters in the public or private sector, including the U.S. Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, as amended, or any similar Applicable Laws;

"**Applicable Law**" means all applicable legislation, statutes, directives, regulations, judgments, decisions, decrees, orders, instruments, by-laws, and other legislative measures or decisions having the force of law, treaties, conventions and other agreements between states, or between states and the European Union or other supranational bodies, rules of common law, customary law and equity and all civil or other codes and all other laws of, or having effect in, any jurisdiction;

"**Articles**" means the memorandum and articles of association of the Company adopted by special resolution dated on or about the date of this Agreement, as amended and/or restated from time to time;

"**Asset Sale**" means a sale by the Company or any other member of the Group of all or substantially all of the Group's business, assets and undertakings to one or more buyers on arm's length terms as part of a single transaction or series of connected transactions (other than as part of a Reorganisation Transaction);

"**Auditors**" mean the auditors of the Group from time to time;

"**Board**" means the board of directors of the Company (or a duly authorised committee thereof) from time to time (or, where applicable, the board of directors of the New Holding Company);

"**Business Day**" means a day on which banks are open for general, commercial banking business in Dubai, United Arab Emirates and London, England (excluding Saturdays, Sundays and public holidays);

"**Business Plan**" means the three year rolling business plan of the Group (including Anghami), initially developed in accordance with Clause 6.5 and then as may be amended or replaced from time to time in accordance with this Agreement;

"**Call Option Lapse Date**" means 30 June 2028;

"**Company**" has the meaning given to it in the Recitals;

"**Competition Authority**" means any Governmental Authority or other competition or antitrust body or other authority, in any jurisdiction, which is responsible for applying merger control or other competition or antitrust legislation in such jurisdiction;

"**Compliance Measures**" means any law, regulation, code of practice or requirement of a regulatory authority (including any Tax Authority) or any policy, advice or guideline of any regulatory authority (including any Tax Authority), industry body or association, or any measures required to undertake any merger control analysis, including in each case in relation to anti–bribery or anti–corruption, anti–competition, anti-money laundering, sanctions or Tax;

"**Confidential Information**" means all information (whether oral or recorded in any medium) relating to any Group Company's or any Investor's or the relevant Investor Affiliates', financial or other affairs (including future plans of any Group Company) which is treated by a Group Company or an Investor as confidential (or is marked or is by its nature confidential);

"**Conflict**" has the meaning given to it in paragraph 3 of Part 1 of Schedule 2 (*Corporate Governance*);

"**Control**" means, from time to time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a body corporate, the right to exercise (directly or indirectly) more than 50 per cent.,
of the votes exercisable at any meeting of the shareholders or members of that body corporate, together with the right to appoint more
than half of its directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a partnership or limited partnership, the right to exercise (directly or indirectly) more
than 50 per cent. of the votes exercisable at any meeting of partners of that partnership or limited partnership (and, in the case of
a limited partnership, Control of each of its general partners); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of any other person, the right to exercise a majority of the voting rights in respect of or
otherwise to control that person, whether by virtue of provisions contained in its memorandum or articles of association or, as the case
may be, certificate of incorporation or bye-laws, statutes or other constitutional documents or any contract or arrangement with any other
persons (and "**Controls**" and "**Controlled**" shall be construed accordingly);

"**Convertible Note Purchase Agreement**" has the meaning given to it in the Acquisition Agreement;

"**Covenanting Investor**" has the meaning given to it in Clause 8.1;

"**Data Protection Authority**" means any Governmental Authority responsible for the enforcement of Data Protection Law;

"**Data Protection Law**" means all Applicable Laws and all guidelines and codes of practice (in each case which are mandatory and legally binding) issued by a competent Data Protection Authority concerning the protection and/or processing of personal data or e-privacy (including laws concerning electronic marketing and use of cookies and similar tracking technologies);

"**Debt Finance**" means, without double counting, all loans (whether or not they bear interest), financing liabilities or obligations or other indebtedness of the Group and, from time to time, any further facilities of the Group for the funding of any future acquisitions, repayment of or refinancing of third party debt and capital expenditure and working capital;

"**Debt Securities**" means any shares that carry a fixed return on profits, capital or otherwise and/or any other debt or debt-like security or rights convertible into or exercisable or exchangeable for debt or debt-like securities of any class or series of loan capital (or which are convertible into or exercisable or exchangeable for any security which is, in turn, convertible into or exercisable or exchangeable for debt or debt-like securities of any class or series of loan capital) issued by any SPV Group Company from time to time, in each case, having the rights and being subject to the restrictions set out in this Agreement and the relevant instrument constituting such securities, but excluding any Debt Finance;

"**Deed of Adherence**" means the deed of adherence to this Agreement in the form of Schedule 7 (*Deed of Adherence*);

"**Defaulting Security Holder**" has the meaning given to in in Clause 11.7;

"**Delegation of Authority**" means the delegation of authority of Anghami adopted in the agreed form on or about the date of this Agreement, as amended and/or restated from time to time;

"**Drag-Along Notice**" has the meaning given to it in paragraph 2.1 of Schedule 6 (*Drag-Along*);

"**Drag-Along Sale**" has the meaning given to it in paragraph 1 of Schedule 6 (*Drag-Along*);

"**Drag-Along Securities**" has the meaning given to it in paragraph 1 of Schedule 6 (*Drag-Along*);

"**Drag Transferee**" has the meaning given to it in paragraph 1 of Schedule 6 (*Drag-Along*);

"**Drag Triggering Sellers**" has the meaning given to it in paragraph 1 of Schedule 6 (*Drag-Along*);

"**Dragged Security Holders**" has the meaning given to it in paragraph 1 of Schedule 6 (*Drag-Along*);

"**Encumbrance**" means a mortgage, charge (whether fixed or floating), pledge, lien, option, restriction, equity, right of first refusal, right of pre-emption, third party right or interest, other encumbrance or security interest of any kind, or other type of agreement or arrangement having similar effect;

**"Event"** means any event, transaction, action, circumstance or omission whether alone or in conjunction with any other event, transaction, action, circumstance or omission (or any of the foregoing deemed to occur for Tax purposes) and includes (without limitation) further becoming, being or ceasing to be a member of a group of companies (however defined) for the purposes of any Tax;

"**Excluded Issue**" means any issue of Securities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in connection with an IPO or Reorganisation Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) only to another Group Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in connection with a pro-rata stock split or pro-rata dividend in specie;

"**Exit**" means a Sale, Asset Sale, IPO or Winding Up;

"**Financing Documents**" means the agreements (including facility, inter-creditor and security agreements and any ancillary documents) pursuant to which Lenders make available Debt Finance to any Group Company;

"**Governmental Authority**" means any supranational, national, state, municipal or local government (including any subdivision, court, administrative agency or commission, stock or securities exchange, self-regulatory organisation, Tax or other fiscal or revenue authority, official or body or other governmental or regulatory body) or any other supranational, intergovernmental, quasi-governmental authority, body, department or organisation, including the European Union, or any regulatory body appointed by any of the foregoing in each case, in any jurisdiction;

"**Government Official**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any employee or officer of, or other person acting in an official capacity for any government or department,
agency or any government-controlled or government-owned entity, an international non-governmental organization, or a royal family;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a political party or official thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any candidate for political office;

"**Group**" means the Company, any New Holding Company and any direct or indirect subsidiary of the Company from time to time and references to "**Group Company**" and "**member of the Group**" shall be construed accordingly;

"**Group Company Board**" has the meaning given to it in Clause 4.1;

**"Group Company Pillar Two Tax Cost"** means, for a Reporting Fiscal Year (including any Reporting Fiscal Year falling wholly or partly prior to the date of this Agreement), the amount (if any) by which the aggregate liability for Pillar Two Taxes of the Group Companies is greater than the Notional GC Amount for that Reporting Fiscal Year (the "**Notional GC Amount**" for a Reporting Fiscal Year being the amount that would have been the aggregate liability for Pillar Two Taxes of the Group Companies for that Reporting Fiscal Year but for any Group Company being a Constituent Entity of an MNE Group of which any Investor or any of its Affiliates is the Ultimate Parent Entity (in which case that Investor shall be treated as a "**Pillar Two Responsible Investor**" for that Reporting Fiscal Year for the purposes of this Schedule), determined on the assumption that the Group Companies constitute an MNE Group which includes no entities other than the Group Companies and of which the Company (or, if applicable, any New Holding Company) is the Ultimate Parent Entity);

"**Gulf DTH**" means Gulf DTH FZ LLC, a Dubai Development Authority company with registration number 30993, whose registered office is at OSN Building, PO Box 50221, Dubai Media City, United Arab Emirates;

"**ICC**" means the International Chamber of Commerce;

"**ICC Expert Rules**" means the ICC rules relating to experts and neutrals published on 28 December 2016, as amended;

"**Independent Expert**" means a mutually agreeable independent and reputable firm of international standing selected amongst one of the largest 4 (four) internationally recognised audit firms, or one of the top ten (10) valuation or investment banking firms advising internationally on media deals during the calendar year ending prior the date of the Pre-Emption Notice, in each case that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) has had no material business relationship (whether directly or through any of its Investor Affiliates)
with any Investor or their respective Investor Affiliates in the twenty-four (24) months prior to its selection;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is not, directly or through any of its Investor Affiliates, in then-current discussions with any Investor
or any of their respective Investor Affiliates regarding a proposed future engagement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) has no other conflict of interest or financial interest in the proposed transaction,

and, failing mutual agreement between the parties within ten (10) Business Days, the Independent Expert shall be appointed by the ICC in accordance with the ICC Expert Rules;

"**Intellectual Property Rights**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) copyright, patents, database rights and rights in trade marks, designs, know-how and confidential information
(whether registered or unregistered);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) applications for registration, and rights to apply for registration, of any of the foregoing rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all other intellectual property rights and equivalent or similar forms of protection existing anywhere
in the world;

"**Investment**" means the sum of the US$57 million from the date of this Agreement, plus any amounts paid at a particular point in time by (or on behalf) of the WBD Investor in respect of Securities which are not First Tranche Sale Shares, Second Tranche Sale Shares or Third Tranche Sale Shares (as each such term is defined in the Acquisition Agreement);

"**Investor**" has the meaning given to it in the Recitals;

"**Investor Affiliate**" means, in relation to an Investor, each Affiliate of that Investor (other than the Investor itself), provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no person other than Panther Media Group Limited and its direct and indirect subsidiary undertakings from
time to time shall be deemed an Investor Affiliate of the Lead Investor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Anghami shall not be deemed an Investor Affiliate of the Lead Investor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no person other than Warner Bros. Discovery, Inc. and its direct and indirect subsidiary undertakings
from time to time shall be deemed an Investor Affiliate of the WBD Investor;

"**Investor Consent**" means a consent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in writing to the relevant Group Company from either an Investor Director appointed by each Major Investor
or the relevant Investor(s) (including by way of e-mail);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) from each Major Investor by signing a written resolution of the shareholders of the Company approving
the relevant transaction or matter; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) from Investor Directors appointed by each Major Investor by signing a written resolution of the Board
or the minutes of a quorate Board meeting approving the relevant transaction or matter,

and provided, in each case, that the consent is expressly referred to as an Investor Consent;

"**Investor Direction**" means a direction in writing to the relevant Group Company from either an Investor Director appointed by the relevant Investor or the relevant Investor(s) (including by way of e-mail) provided that the direction is expressly referred to as an Investor Direction;

"**Investor Director**" means a director appointed to the Board or to the board of any Group Company in accordance with Clause 3.3;

"**Investor Transferee**" means any Investor Affiliate of that Investor;

"**IPO**" means the admission of all or any of the issued share capital of any Group Company (including any New Holding Company) to trading on a regulated market or other recognised investment exchange;

"**Issue Floor**" has the meaning given to it in Clause 10.1;

"**Lead Investor**" means OSN Streaming Holding Limited, a company limited by shares incorporated under the laws of the Dubai International Financial Centre (registered number: 7996) with its registered address at Unit IH-00-01-01-OF-01, Level 1, Innovation Hub, Dubai International Financial Centre, Dubai, United Arab Emirates and any person who adheres to this Agreement from time to time as a Lead Investor pursuant to a Deed of Adherence in accordance with this Agreement;

"**Lenders**" means the persons that make Debt Finance available to the Group from time to time;

"**Major Investor**" means each Investor that holds 15% or more, directly or indirectly, of the Shares of Anghami but shall not include the WBD Investor at any time;

"**Mandatory Consent(s)**" means any approval or the termination of any applicable waiting period pursuant to the legislation or regulations in any country or of any Governmental Authority without which a Transfer, grant, issue or sale of ROFO Sale Shares would be unlawful or otherwise prohibited;

"**Material Contract**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the content licence agreement between Gulf DTH and Anghami FZ dated 1 April 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the assignment agreement between Gulf DTH and Anghami FZ dated 1 April 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any contract or arrangement between a Group Company and one of the top 5 customers to OSN+ based on business-to-business
distribution revenues generated in the financial year ending 31 December 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any contract or arrangement between a Group Company and one of the top 5 customers to Anghami based on
business-to-business revenues generated in the financial year ending 31 December 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any contract or arrangement between a Group Company and one of the Group's top 5 music content suppliers
based on costs paid for the financial year ending 31 December 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any contract or arrangement between a Group Company and one of the Group's top 5 non-program suppliers
based on costs paid for the financial year ending 31 December 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all material (i) licenses and other agreements relating to any Intellectual Property Rights, and
(ii) agreements relating to the Systems (as such term is defined in the Acquisition Agreement), in each case to which any Group Company
is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the agreement between Gulf DTH FZ LLC and Optimum Media Direction FZ LLC dated 18 February 2021,
as novated from Gulf DTH FZ LLC to Anghami FZ LLC and amended pursuant to the novation and first amendment agreement with an effective
date of 1 April 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the agreement between Anghami FZ LLC and Digital Media Services FZ LLC dated 29 April 2020 with an
effective date of 1 January 2020;

"**Music Business**" means (i) the online music streaming service known as "Anghami" owned and operated by Anghami and which, via technical resource and Intellectual Property Rights (including platform recommendation engine) shared with the OSN+ video streaming business, allows users to stream a range of music and podcasts over the internet to internet connected devices; and (ii) the events and production businesses that are operated by the Anghami Group;

"**Music Business Carve-out**" means a carve-out of the Music Business from the Anghami Group;

"**New Holder**" has the meaning given to it in paragraph 4 of Schedule 5 (*Tag-Along*);

"**New Holding Company**" means any new holding company of the Company, formed for the purpose of facilitating a Reorganisation Transaction, a Refinancing or an IPO (excluding any holding company of the Company which is a special purpose vehicle utilised by the Investors (and not any other Security Holder) to facilitate their direct or indirect investment in the Group) and in which (a) the share capital structure of the Company is replicated in all material respects; and (b) the holders of such shares in the New Holding Company are (directly or indirectly) the same as the holders of Shares in the Company in each case immediately prior to the Reorganisation Transaction, Refinancing or IPO for which the New Holding Company has been formed;

"**New Issue**" means an issue of Securities pursuant to Clause 10;

"**New Issue Option**" has the meaning given to it in Clause 10.3(a);

"**New Securities**" has the meaning given to it in Clause 10.1;

"**Notice**" has the meaning given to it in Clause 30.1;

"**Observers**" has the meaning give to it in Clause 3.3;

**"OECD"** means the Organisation for Economic Co-operation and Development;

**"OECD Pillar Two Model Rules**" means the model rules published by the OECD on or about 20 December 2021 in a document titled "Tax Challenges Arising from Digitalisation of the Economy - Global Anti-Base Erosion Model Rules (Pillar Two)", as they may be subsequently revised or replaced from time to time;

"**Option Agreement**" means the option agreement between the Lead Investor and the WBD Investor entered into on or around the date of this Agreement;

"**Ordinary Shares**" means the ordinary shares of US$0.001 par value each in the capital of the Company in issue from time to time;

"**Original Holder**" has the meaning given to it in Clause 11.6;

"**Person**" means any individual, corporation, limited liability company, company, voluntary association, partnership, joint venture, trust, vessel, or other enterprise or unincorporated organization or entity;

"**Pillar Two Responsible Investor**" has the meaning given in the definition of "Group Company Pillar Two Tax Cost";

"**Pillar Two Rules**" means any law or regulation implemented in accordance with the OECD Pillar Two Model Rules, including any law or regulation of a jurisdiction implementing the "Income Inclusion Rule", the "Undertaxed Payment Rule", or a "Qualified Domestic Minimum Top-up Tax", as such terms are used in the OECD Pillar Two Model Rules, as may be subsequently revised or replaced from time to time;

"**Pillar Two Taxes**" means any Tax imposed under any Pillar Two Rules, including (for the avoidance of doubt) any Tax imposed under: (i) an Income Inclusion Rule; (ii) an Undertaxed Payment Rule (including by reason of the disallowance or denial of any Relief, or any other adjustment); and (iii) a Qualified Domestic Minimum Top-up Tax (in each case as defined in the OECD Pillar Two Model Rules), including in each case any interest, penalties, surcharges or fines imposed in relation thereto;

"**Pre-Emption Notice**" has the meaning given to it in Clause 10.1;

"**Pro-Rata Portion**" means, in relation to each Security Holder, a proportion calculated by dividing the number of all Securities held by such Security Holder at the relevant time by the total number of Securities then in issue to all Security Holders (other than those held in treasury);

"**Prospective Purchaser**" has the meaning given to it in paragraph 5.1 of Schedule 4 (*Right of First Offer*);

"**Refinancing**" has the meaning given to it in Clause 13.1;

"**Rejected ROFO Shareholders**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**Relevant Securities**" means all Securities held by a Defaulting Security Holder, or to which they are entitled, and any Securities formerly held by them which have been Transferred in breach of Clause 11 (*Transfers of Securities*);

**"Relief"** means any right to repayment of Tax from a Tax Authority and any relief, exemption, loss, allowance, repayment, set-off or credit in respect of Tax and any deduction in computing profits or Tax;

"**Reorganisation Transaction**" means a reorganisation of the Group by any means including the acquisition of the Company by a New Holding Company or any other reorganisation of the Group involving the Group's share or debt capital (including the conversion, consolidation, sub-division or redesignation (as appropriate) of the Shares into a single class of ordinary shares) in preparation for an internal Group reorganisation, Exit or Refinancing and which may involve the exercise of the rights set out in Clause 14 (*Reorganisation Transactions*);

"**Replacement Securities**" has the meaning given to it in Clause 14.2(a);

"**Representatives**" means, in respect of any person, its partners, officers, employees, professional advisers, lenders, proposed lenders, auditors and other representatives of such person;

"**Restricted Transferee**" means any person from time to time that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to the Lead Investor's knowledge (having made reasonable enquiries) is, or in the last two years has been,
in breach of Anti-Corruption Laws or AML Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is, or in the last two years has been, a Sanctioned Person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) is, or in the last two years has been, in breach of applicable Sanctions,

or any person that is an Affiliate of such a person;

"**Right to Match Notice**" has the meaning given to it in paragraph 5.1 of Schedule 4 (*Right of First Offer*);

"**RM Acceptance Period**" has the meaning given to it in paragraph 5.3 of Schedule 4 (*Right of First Offer*);

"**RM Offer**" has the meaning given to it in paragraph 5.1 of Schedule 4 (*Right of First Offer*);

"**RM Offer Notice**" has the meaning given to it in paragraph 5.1 of Schedule 4 (*Right of First Offer*);

"**RM Offer Period**" has the meaning given to it in paragraph 5.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Acceptance Notice**" has the meaning given to it in paragraph 2.3 of Schedule 4 (*Right of First Offer*);

"**ROFO Acceptance Period**" has the meaning given to it in paragraph 2.3 of Schedule 4 (*Right of First Offer*);

"**ROFO Offer**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Offer Notice**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Offer Period**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Offer Price**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Participation Notice**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Proposed Terms**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Sale Documents**" has the meaning given to it in paragraph 3.2 of Schedule 4 (*Right of First Offer*);

"**ROFO Sale Shares**" has the meaning given to it in paragraph 1 of Schedule 4 (*Right of First Offer*);

"**ROFO Seller**" has the meaning given to it in paragraph 1 of Schedule 4 (*Right of First Offer*);

"**ROFO Shareholder**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**ROFO Shareholder Signing Date**" has the meaning give to it in paragraph 4.5(a) of Schedule 4 (*Right of First Offer*);

"**ROFO Transfer Notice**" has the meaning given to it in paragraph 2.1 of Schedule 4 (*Right of First Offer*);

"**RP Offer**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**RP Offer Notice**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**RP Offer Period**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**RP Offer Price**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**RP Proposed Terms**" has the meaning given to it in paragraph 4.1 of Schedule 4 (*Right of First Offer*);

"**RWI Policy**" means the Buyer-Side Representations and Warranties Insurance Policy dated 1 April 2024 under which the Company and certain of its Affiliates are Insureds;

"**Sale**" means the sale or transfer of Shares to one or more third parties as part of a single transaction or a series of related transactions (other than (i) as part of a Reorganisation Transaction or (ii) the transfer by an Investor to an Investor Affiliate) which results in such third parties (together with any person connected with or acting in concert with such third parties) being entitled to exercise Control of the Company;

"**Sanctioned Country**" means any country or territory that is the target of comprehensive, country-wide or territory-wide Sanctions, which as of the date of this Agreement, comprise Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, and the so-called People's Republics of Donetsk and Luhansk;

"**Sanctioned Person**" means any Person that is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) listed on, or owned or controlled (as such terms are defined by the relevant Sanctions Authority) (directly
or indirectly) by one or more Persons identified on, or acting on behalf of a Person identified on, any Sanctions list;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) resident, operating, located, or organised in, or owned or controlled (directly or indirectly) by, or
acting on behalf of, a Person which is a resident, located in or organized under the laws of a Sanctioned Country);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a government of, or owned or controlled (directly or indirectly) by, or acting on behalf of, a Sanctioned
Country; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) otherwise a target of Sanctions ("target of Sanctions" signifying a Person with whom a Person
subject to the jurisdiction of a Sanctions Authority would be prohibited or restricted by that Sanctions Authority from engaging in trade,
business, or other activities);

"**Sanctions**" means individually and collectively, any and all applicable economic or financial sanctions, trade restrictions, or trade embargoes imposed, administered or enforced from time to time by any Sanctions Authority;

"**Sanctions Authority**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the government of the United States, including the Office of Foreign Asset Control (OFAC), the U.S. Department
of State, the U.S. Department of Commerce, and any other governmental authority of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the United Nations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the European Union or any European Union member state;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the United Kingdom; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any other governmental authority that administers enacts, or enforces economic, financial, or trade sanctions
laws, regulations, embargoes, or restrictive measures;

"**Securities**" means, together, the Debt Securities and Shares;

"**Security Holder**" means any person, other than a Group Company, holding Securities;

"**Shareholders**" means the holders of Shares and "**Shareholder**" means any one of them;

"**Shares**" means the Ordinary Shares and any other shares of any class (excluding, for the avoidance of doubt, Debt Securities) or rights convertible into or exercisable or exchangeable for shares of any class (or which are convertible into or exercisable or exchangeable for any security which is, in turn, convertible into or exercisable or exchangeable for shares of any class), including where interest accrues on the nominal value of such rights (provided such interest shall not be payable in cash), of the Company or any other Group Company from time to time, in each case having the rights and being subject to the restrictions set out in this Agreement and the Transaction Documents and "**Share**" means any one of them;

"**SPV Group**" means the Group Companies, save for any member of the Anghami Group and references to "**SPV Group Company**" and "**member of the SPV Group**" shall be construed accordingly;

"**SPV Group Company Board**" means the board of directors of any SPV Group Company;

"**Streaming Business**" means the online digital streaming service known as "OSN+" directly owned and operated by Anghami and which allows users in the Middle East and North Africa to stream a range of movies, series, and made-for-television content over the internet to certain internet connected devices located in the Middle East and North Africa;

"**Surviving Provisions**" means Clauses 1 (*Definitions and Interpretation*), 16 (*Announcements*), 17 (*Confidentiality*), 19 (*Relationship of Agreement to Transaction Documents*), 20 (*Duration*) to 32 (*Governing Law and Jurisdiction*) (inclusive) and, if applicable, the Surviving Tax Provisions;

"**Surviving Tax Provisions**" means, in any case where this Agreement terminates in respect of the Lead Investor pursuant to Clause 20 (*Duration*) by reason of the Lead Investor ceasing to hold any Securities or ceasing to be the beneficial owner of any Securities in each case pursuant to the exercise of the Call Option (as defined in the Option Agreement), Clause 8 (*Secondary Tax Liabilities*) and Clause 15 (*Tax Matters*), provided that where applied as a Surviving Tax Provision, a new subclause 15.2(g) shall be deemed to have been added as follows: "*the Tax Liability has been taken into account in the determination of the Anghami Fair Market Value, the Agreed Net Debt Amount or the Determined Net Debt Amount (in each case as defined in the Option Agreement) in respect of the relevant exercise of the Call Option under the Option Agreement.*";

"**Tag Acceptance Period**" has the meaning given to it in paragraph 2.4 of Schedule 5 (*Tag-Along*);

"**Tag Notification**" has the meaning given to it in paragraph 2.4 of Schedule 5 (*Tag-Along*);

"**Tag Transferee**" has the meaning given to it in paragraph 1.1 of Schedule 5 (*Tag-Along*);

"**Tag Triggering Sellers**" has the meaning given to it in paragraph 1.1 of Schedule 5 (*Tag-Along*);

"**Tag-Along Notice**" has the meaning given to it in paragraph 2.1 of Schedule 5 (*Tag-Along*);

"**Tag-Along Right**" has the meaning given to it in paragraph 1.1 of Schedule 5 (*Tag-Along*);

"**Tag-Along Sale**" has the meaning given to it in paragraph 1.1 of Schedule 5 (*Tag-Along*);

"**Tag-Along Securities**" has the meaning given to it in paragraph 1.1 of Schedule 5 (*Tag-Along*);

"**Tagging Security Holder**" has the meaning given to it in paragraph 2.4 of Schedule 5 (*Tag-Along*);

"**Tax**" means any form of tax and any duty, levy, withholding, contribution, impost or tariff in the nature of tax, together with all related penalties, fines, surcharges and interest;

"**Tax Authority**" means any governmental or other authority in any jurisdiction competent to impose Tax or responsible for the administration and/or collection of Tax or enforcement of any law in relation to Tax;

"**Tax Liability**" means any liability of any Group Company (including any increase in any liability of a Group Company) to make or suffer an actual payment of Tax (i) arising as a consequence of an Event which occurred; or (ii) arising in respect of or with reference to any income, profits or gains which were earned, accrued or received (or deemed to be earned, accrued or received for Tax purposes), in each case, on or before the date of this Agreement, with the amount of the Tax Liability being the amount of the actual payment;

"**Third Completion Date**" has the meaning given to it in the Acquisition Agreement;

"**Third Party Sale**" has the meaning give to it in paragraph 3.1 of Schedule 4 (*Right of First Offer*);

"**Third Party Signing Date**" has the meaning give to it in paragraph 3.2(f) of Schedule 4 (*Right of First Offer*);

"**Transaction Documents**" means this Agreement, the Option Agreement, the constitutional documents of the Group Companies (including the Articles) and, in each case, all documents referred to therein;

"**Transfer**" means (i) any direct or indirect sale, transfer or other disposition (including by way of contractual or other arrangement which transfers the economic risk and reward or otherwise substantially mimics the effect of a sale, or by way of Encumbrance) of any Securities (including any voting rights attached thereto); (ii) any direction (by way of renunciation or otherwise) by a Security Holder, or a person entitled to an issue or transfer of Securities, that Securities be issued or transferred to a person other than itself; or (iii) any agreement to do any of the foregoing;

"**VAT**" has the meaning given to it in the Acquisition Agreement;

"**VAT Group**" means a group of companies treated as members of a group for the purposes of VAT under Applicable Law in relation to VAT in any jurisdiction;

"**WBD Competitor**" (i) the Walt Disney Company, Paramount Pictures, Sony Pictures, Universal Pictures, Comcast, Netflix, Apple, Google and Amazon (or their applicable Affiliates or successors to the whole of their business) operating either: (a) directly; or (b) through local Affiliates; and (ii) any new international studios, networks, platforms or content providers that license and/or aggregate content for distribution or distribute content directly, including through streaming services owned and operated either: (a) directly; or (b) through local Affiliates, that are of substantially similar global size and presence as those listed in (i);

"**WBD Investor**" means Dplay Entertainment Limited and any of its Investor Transferees who adhere to this Agreement from time to time as a WBD Investor pursuant to a Deed of Adherence in accordance with this Agreement; and

"**Winding Up**" means a voluntary or involuntary distribution pursuant to a winding up, dissolution or liquidation of the Company or any New Holding Company (including following an Asset Sale).

**1.2** The Schedules form part of this Agreement and shall have the same force and effect as if expressly set
out in the body of this Agreement.

**1.3** In this Agreement, the terms "**Reporting Fiscal Year** ", "**Constituent Entity"**,
" **MNE Group**" and "**Ultimate Parent Entity**" shall be construed in accordance with the OECD Pillar Two
Model Rules or the equivalent thereof in any applicable Pillar Two Rules.

**1.4** Unless the context otherwise requires, words and expressions defined in the Articles and words and expressions
defined in or having a meaning provided by the Act shall have the same meaning in this Agreement, provided that the words and expressions
" **company** ", "**holding company** ", "**subsidiary** ", "**parent undertaking** ",
" **group undertaking**" and "**subsidiary undertaking**" shall have the meanings given to them in the UK
Companies Act 2006.

**1.5** Unless the context otherwise requires, or as expressly defined otherwise, in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) references to any of the masculine, feminine and neuter genders shall include other genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) references to the singular shall include the plural and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) references to a person shall include a reference to any natural person, body corporate, unincorporated
association, partnership, firm and trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) references to any statute or statutory provision shall be deemed to include any instrument, order, regulation
or direction made or issued under it and any reference to any statute, statutory provision, regulations or rules of any regulatory
body shall be construed as a reference to the same as it may have been, or may from time to time be, amended, modified, consolidated,
re-enacted or replaced except to the extent that any amendment or modification made after the date of this Agreement would increase any
liability or impose any additional obligation under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) references to any document shall be deemed to be to that document as may be amended, supplemented, novated
or replaced from time to time (with such consents as may be required pursuant to the terms of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any reference to a regulatory body or agency shall be deemed to include any successor of such regulatory
body or agency and shall be construed as a reference to the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) references to any English legal term for any action, remedy, method of judicial proceeding, legal document,
legal status, court, official or any legal concept or thing shall, in respect of any jurisdiction other than that of England, be deemed
to include what most nearly approximates in that jurisdiction to the English legal term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) any time or date shall be construed as a reference to the time or date prevailing in the United Arab Emirates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the expression "procure", where used in the context of a party, means that the relevant party
undertakes to exercise all powers, rights and resources available to it, whether as a shareholder or as a director (subject to any applicable
fiduciary duties), so as to procure, so far as it is lawfully able, compliance with that obligation; provided that any obligation of the
Lead Investor to procure that Anghami or any other Group Company does any thing, shall be an absolute obligation to ensure that Anghami
or the relevant Group Company does such thing as if such thing was a direct contractual obligation of Anghami or the relevant Group Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) if an Investor Director appoints an Alternate Director in accordance with paragraph 4 of Part 1 of
Schedule 2 (*Corporate Governance*), any reference to an Investor Director shall be deemed to be a reference to his Alternate Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) if the Company is merged with another entity and the Company is not the surviving entity of that merger,
references to the "Company" shall be deemed to be references to the surviving entity of that merger; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) an undertaking, where used in relation to the Company, means an undertaking other than to the extent that
it would constitute an unlawful fetter on its statutory powers.

**1.6** The headings in this Agreement are for convenience only and shall not affect its meaning. References to
a Clause, Schedule or paragraph are (unless otherwise stated) to a clause of and Schedule to this Agreement and to a paragraph of the
relevant Schedule.

**1.7** A document expressed to be "**in the agreed form**" means a document, the terms of which
have been approved by the parties and a copy of which has been identified as such and initialled by or on behalf of each party.

**1.8** In construing this Agreement, "**including**" shall be deemed to mean "**including without limitation**" and general words introduced by the word "**other**" shall not be given a restrictive meaning
by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things and general words shall
not be given a restrictive meaning by reason of the fact that they are followed by particular examples intended to be embraced by the
general words.

**2.** **EFFECTIVE DATE** 

The rights and obligations of the parties pursuant to this Agreement shall be effective from the date hereof (save for any rights and obligations which are expressed to become effective under this Agreement following the date hereof).

**3.** **ROLE OF THE BOARD, COMPOSITION AND APPOINTMENT RIGHTS** 

**3.1** **Management Of The Group** 

Subject to the Act and those matters which require Investor Consent and/or Investor Direction from the WBD Investor pursuant to Clause 6.1(a)(i) or consultation with the WBD Investor pursuant to Clause 6.1(a)(ii), the Board is responsible for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the overall direction and management of the Group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) forming policies for conducting the business of the Group.

**3.2** **Board Composition and Lead Investor Appointment Rights** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties agree that the Board, and each SPV Group Company Board, shall comprise of no less than five
and no more than eight directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Lead Investor shall be entitled to appoint (and remove) the chair of the Board and the board of any
other SPV Group Company from amongst the Investor Directors it has appointed pursuant to Clause 3.3(d). As at the date of this Agreement,
the chair of the Board shall be Sheikha Adana Nasser Sabah Al-Ahmad Al-Sabah.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Lead Investor shall be entitled to appoint (and remove) the officers of the Company and any other
SPV Group Company.

**3.3** **Rights Of The Investors To Appoint And Remove Directors** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD
Investor holds 15% or more, directly or indirectly, of the Shares of Anghami), the WBD Investor shall be entitled, by Investor Direction
(which shall take effect on the date specified in the notice), to appoint to and remove from the Board and the board of any other SPV
Group Company as it may direct, one person as a director, and to appoint and remove any replacements thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Major Investor shall be entitled, by Investor Direction (which shall take effect on the date specified
in the notice) and for so long as that Investor remains a Major Investor, to appoint to and remove from the Board and the board of any
other SPV Group Company as it may direct, one person as a director, and to appoint and remove any replacements thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In addition to the right to appoint to and remove from the Board and the board of any other SPV Group
Company one director pursuant to and in accordance with Clause 3.3(a), the WBD Investor shall be entitled by Investor Direction (which
shall take effect on the date specified in the notice):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD
Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), to appoint to and remove from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Board and the board of any other SPV Group Company as it may direct, one additional person as a director,
and to appoint and remove any replacements thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Anghami Board as it may direct one person as a director, and to appoint and remove any replacements
thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD
Investor holds 15% or more, directly or indirectly, of the Shares of Anghami), to appoint and remove as it may direct:

&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) one additional person who the WBD Investor may send to attend and speak at, but not vote at, any meeting
of the Anghami Board (the "**Anghami Board Observer** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) one additional person who the WBD Investor may send to attend and speak at, but not vote at, any meeting
of the audit committee of the Anghami Board (the "**Anghami Audit Committee Observer**" and, together with the Anghami Board
Observer, the "**Observers** "), and, in each case, to appoint and remove any replacement thereof,

and the Lead Investor shall do, and shall procure that Anghami shall do, all things necessary to ensure that such Investor Direction is given effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) For so long as the Lead Investor holds a majority of the Shares, the Lead Investor shall be entitled,
by Investor Direction (which shall take effect on the date specified in the notice), to appoint to and remove from the Board and the board
of any other SPV Group Company as it may direct, all directors on the Board and the board of any other SPV Group Company other than the
directors appointed pursuant to Clause 3.3(a), 3.3(b) and 3.3(c), and to appoint and remove any replacements thereof.

**4.** **BOARD QUORUM REQUIREMENTS** 

**4.1** Subject to Clause 4.2, the quorum necessary for the transaction of any business of the Board and the board
of any SPV Group Company to which an Investor Director has been appointed by each Major Investor and, to the extent it is entitled to
appoint an Investor Director, the board of any SPV Group Company to which an Investor Director has been appointed by the WBD Investor
(any such board, a "**Group Company Board** "), shall be the presence of at least one Investor Director appointed by each
Major Investor and, to the extent it is entitled to appoint an Investor Director, at least one Investor Director appointed by the WBD
Investor.

**4.2** If:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (and for so long as) any Major Investor has not appointed an Investor Director, the quorum necessary for
the transaction of any business of the Board and the relevant Group Company Board shall be the presence of at least one Investor Director
of each Major Investor who has appointed an Investor Director and, to the extent it is entitled to appoint an Investor Director, at least
one Investor Director appointed by the WBD Investor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (and for so long as) the WBD Investor has not appointed an Investor Director to the extent it is entitled
to do so, the quorum necessary for the transaction of any business of the Board and the relevant Group Company Board shall be the presence
of at least one Investor Director of each Major Investor who has appointed an Investor Director; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any meeting of the Board or relevant Group Company Board has to be reconvened twice as a result of the
first and second meetings of the Board or relevant Group Company Board having been inquorate, the quorum necessary for the transaction
of the business of the Board and the relevant Group Company Board to be addressed at the first and second meetings shall be the presence
of at least one Investor Director.

**5.** **PROCEEDINGS AND VOTING AT MEETINGS** 

**5.1** **Board Meetings** 

The provisions of Part 1 of Schedule 2 (*Corporate Governance*) shall apply to proceedings of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Board; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where stated in Part 1 of Schedule 2 (*Corporate Governance*), the Group Company Board.

**5.2** **General Meetings And Votes Of Members** 

The provisions of Part 2 of Schedule 2 (*Corporate Governance*) shall apply to the proceedings at general meetings, and in respect of votes of members, of the Company.

**6.** **CONDUCT OF BUSINESS** 

**6.1** **Investor Consent** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to Clause 6.1(b) and without limiting any relevant requirement under the Act, the Company
undertakes to the Major Investors to, and the Lead Investor undertakes to the other Major Investors or the WBD Investor (as applicable)
to, procure that each Group Company shall not effect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any of the matters set out in Part 1 of Schedule 3 (*Conduct of Business*) without:

&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) Investor Consent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD
Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), Investor Direction from the WBD Investor; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD
Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), any of the matters set out in Part 2 of Schedule
3 (*Conduct of Business*), without consulting the WBD Investor in good faith,

provided that: (i) in each case, this Clause 6 shall not limit, or have the effect of limiting the Lead Investor's ability to conduct an Exit, Refinancing or a Reorganisation Transaction in accordance with the other provisions of this Agreement; and (ii) Investor Consent and/or Investor Direction from the WBD Investor (as applicable) in respect of the matter set out in paragraph 6 of Part 1 of Schedule 3 shall not be unreasonably withheld, conditioned or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Clause 6.1(a) above does not apply in respect of and shall not operate so as to restrict or prevent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any matter expressly permitted by, agreed pursuant to, or necessary for performance of, this Agreement
or the Transaction Documents and undertaken in accordance with this Agreement or the Transaction Documents (including such matters separately
agreed between the Lead Investor and the WBD Investor as part of the process specified in Clause 6.5);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any matter contemplated by the Convertible Note Purchase Agreement, including a share capital increase
in the Company or Anghami necessary to effect the transactions contemplated thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) effecting or implementing (or taking any steps required to so effect or implement) the Minority Buy-out
(as defined in the Acquisition Agreement), if any; provided that, prior to the Call Option Lapse Date, the Lead Investor shall consult
with the WBD Investor in good faith and consider (acting reasonably) the WBD Investor's reasonable comments on the transaction documents
and process with respect to the Minority Buy-out;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) effecting or implementing (or taking any steps required to so effect or implement) the Music Business
Carve-Out, if any; provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Investor Direction from the WBD Investor will be required if the Company or any member of the Anghami
Group, as a result of the Music Business Carve-Out, enters into any arrangement or agreement (including transitional services agreements)
pursuant to which the Company or any member of the Anghami Group will provide support (operational or otherwise) in respect of the Music
Business to the extent any such arrangement or agreement could be in place for more than one year after the Call Option Completion Date
(as defined in the Option Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Music Business Carve-Out is effected on arms' length terms (it being agreed that any arrangement
or agreement (including transitional services agreements) pursuant to which the Company or any member of the Anghami Group will provide
support (operational or otherwise) in respect of the Music Business on a pass-through of costs basis shall be considered as arms' length
terms for the purpose of costs)); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the Music Business Carve-Out is implemented in such a way that it does not have a material detrimental
tax impact to the rest of the Group's business as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any matter required to comply with Applicable Law (including a reverse stock split) or required by any
Governmental Authority (including any Competition Authority); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any transaction that involves funding from the Lead Investor to the Company and/or the Company or a Group
Company to Anghami to the extent expressly permitted by, and undertaken in accordance with, Clause 9 (*Funding*).

**6.2** **Information To Be Supplied For Investor Consents** 

The Company shall promptly supply to the relevant Investors and each relevant Investor Director all information and documentation reasonably necessary to allow proper consideration to be given, over a reasonable period, to any proposed transaction or matter upon which an Investor Consent is sought or an Investor Direction required.

**6.3** **Anti-Bribery, Anti-Corruption, Sanctions and other Applicable Laws** 

The Lead Investor shall (and the Lead Investor shall procure that (i) the Company shall, and (ii) the Company shall direct Anghami to):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) comply with all applicable Anti-Corruption Laws, AML Laws and Sanctions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not, directly or indirectly, provide or offer any money, donations, gifts, other benefits, or anything
else of value to any Government Official or other person, or authorize the taking of any such action, for the purpose of influencing any
act of or gaining any improper business advantage from such Government Official;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not engage, employ, retain or pay any person or entity to provide consulting, lobbying, facilitation or
similar professional services involving contact with any Government Official or anyone who is reasonably likely to be involved in interacting
with any Government Official, except to the extent any such contact or interaction is in full compliance with all applicable Anti-Corruption
Laws, AML Laws, Sanctions, and the Company's compliance policies and procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) promptly notify the WBD Investor of any claim, allegation or investigation relating to applicable Anti-Corruption
Laws, AML Laws or Sanctions made against the Lead Investor by a Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) not, directly or knowingly indirectly, transact any business with, provide any services to or receive
any services from, or otherwise act for the benefit of, any Sanctioned Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) in the event that (i) any formal or informal engagement between the Lead Investor and a Sanctioned
Person is identified, or (ii) the Lead Investor itself becomes the target of or subject to any Sanctions (whether directly or as
a matter of law), promptly notify the WBD Investor of this; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) consult, and work together, with the WBD Investor in good faith in respect of any actions reasonably necessary
to ensure material compliance by the Group Companies with Applicable Laws in line with best practice.

**6.4** **Data Protection, Intellectual Property and Media** 

The Lead Investor shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) take steps to ensure that all privacy notices and privacy policies made available to, or accessible by,
(i) the public, customers or potential customers of the Group; or (ii) employees or contractors, are updated to comply with
Data Protection Law, to the extent applicable to the Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) take steps to remediate any gaps in the Group's compliance with Data Protection Law identified during
the Group's ongoing data protection assessment process;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ensure that no member of the Group shall abandon, fail to renew, permit to lapse (other than the expiration
of such Intellectual Property Rights at the end of their statutory term and as part of business as usual portfolio analysis) or cancel
any of the Intellectual Property Rights that are owned by the Group that are material to the conduct of the business of the Group.

**6.5** **Business Plan and Budget** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Lead Investor shall develop with Anghami the initial Business Plan and initial Annual Budget, and
prepare a draft which is submitted to the board of Anghami for approval, within three months following the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Lead Investor shall consult in good faith with the WBD Investor when developing the initial Business
Plan and initial Annual Budget and, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the
WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), any subsequent Business Plan and Annual Budget, and
consider in good faith any reasonable comments made by the WBD Investor before preparing a draft of each.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Lead Investor, and the WBD Investor for so long as it is required to be consulted in accordance with
Clause 6.5(b), shall use all reasonable endeavours to ensure that Anghami shall approve and adopt the initial Business Plan and initial
Annual Budget (and any subsequent Business Plan and Annual Budget) not less than 30 days following submission to the Board.

**6.6** **Tax administration** 

The Lead Investor shall procure that the Company shall, and that the Company shall direct the Anghami Group to, implement and maintain appropriate policies and practices for the management of the tax affairs of the Group in accordance with Applicable Law and good industry practice.

**7.** **PROVISION OF INFORMATION** 

**7.1** **Regular Reporting Obligations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall prepare annual consolidated financial statements for the Group Companies in accordance
with Applicable Law, and shall provide to each Investor a copy of the annual consolidated financial statements promptly following approval
of the same by the general meeting of the Company in accordance with Part 2 of Schedule 2 (*Corporate Governance*) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall prepare and provide to each Investor copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the quarterly management accounts for the Group Companies no later than 20 Business Days following the
end of each such quarter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the monthly management accounts for the Group Companies no later than 20 Business Days following the end
of each such calendar month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all papers circulated to the Board or the board of directors of any other SPV Group Company (or Anghami,
to the extent the Company is permitted by Applicable Law to provide such papers) tabled at meetings of the Board or at meetings of the
board of directors of any other SPV Group Company or Anghami; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) to the fullest extent permitted by Applicable Law, information about all material developments affecting
the business of the Group, including with respect to any Tax.

**7.2** **Information On Request** 

Upon notice to the Company from an Investor holding Ordinary Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall (and shall procure that each other relevant Group Company shall) at a reasonable time,
and within ten Business Days of such notice, allow such Investor or its Representatives to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) inspect and take copies of the Group's property or business records; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) discuss the affairs, finances and accounts of the Group (including with respect to any Tax) with its directors,
officers, employees and Auditors,

in each case for the purpose of (A) auditing or valuing any Group Company; (B) preparing its own accounts or Tax returns or any filings with any stock or securities exchange on which the shares of such Investor or any of its Investor Affiliates or any Group Company is listed (including where this is required as part of any actual or potential offering, placing and/or sale of securities of that party or a member of the Investor's Group or Group Company); (C) monitoring its investment; (D) any Transfer of Securities required or permitted pursuant to the provisions of the Transaction Documents; (E) enforcing, exercising or preparing to so enforce or exercise any of its rights under the Option Agreement; or (F) any other reasonable purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall prepare and send to the relevant Investor and/or its professional advisers such documents,
information and/or data in relation to any Group Company, and in such form, detail and timeframe, as are requested by the relevant Investor
(acting reasonably) and as are necessary or desirable to enable the relevant Investor or any of its Investor Affiliates to comply with
the Compliance Measures; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company shall direct the Auditors to provide to the relevant Investor and its professional advisers
such information as such Investor reasonably requests from time to time for the purposes of enabling it to monitor its investment in the
Group,

in each case to the fullest extent permitted by Applicable Law.

**7.3** To the fullest extent permitted by Applicable Law (including any fiduciary duties) and subject to the
provisions of Clause 16, each of the Investor Directors and the Observers is hereby authorised to disclose all information available to
him/her in such position to such Investors that proposed him/her for appointment as an Investor Director or Observers and any persons
to whom such Investors are entitled to disclose Confidential Information in accordance with the terms of this Agreement. To the fullest
extent permitted by Applicable Law, all parties hereby expressly agree to such disclosure and agree to release the relevant Investor Director
and Observers from any duty of confidentiality in that respect, provided that such right of disclosure shall be limited to such disclosure
as may be necessary for the purposes set out in Clause 7.2 and not for any other purpose (competitive or otherwise).

**8.** **SECONDARY TAX LIABILITIES** 

**8.1** Subject to Clause 8.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Investor (a "**Covenanting Investor**") covenants to pay (on an after-Tax basis) each
Group Company an amount equal to any liability of a Group Company to make an actual payment of Tax which arises as a consequence of a
failure by the Covenanting Investor or any of its Affiliates to discharge any Tax for which the Covenanting Investor or its Affiliate
is primarily liable (irrespective of whether that primary liability arises on, before or after the date of this Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company covenants to pay (on an after-Tax basis), or procure that the relevant Group Company pays
(on an after-Tax basis), to each Investor an amount equal to any liability of the Investor or any of its Affiliates to make an actual
payment of Tax which arises as a consequence of a failure by a Group Company to discharge any Tax in respect of which such Group Company
is primarily liable (irrespective of whether that primary liability arises on, before or after the date of this Agreement).

**8.2** The covenants in Clause 8.1 shall not extend to any liability otherwise falling therein to the extent
that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the liability is interest, a penalty, a surcharge or a fine arising from a failure to pay Tax to a Tax
Authority within a reasonable time after the covenanting party makes or procures payment of the amount due under Clause 8.1; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the liability is paid or discharged by a person other than a Group Company (in the case of Clause 8.1(a))
or an Investor or any of its Affiliates (in the case of Clause 8.1(b)) or is otherwise compensated for without cost or loss to any Group
Company (in the case of Clause 8.1(a)) or an Investor or any of its Affiliates (in the case of Clause 8.1(b)).

**8.3** Payment of any amounts due under Clause 8.1 shall be made on the later of: (i) the date which is
ten (10) Business Days after receiving notice of a claim for payment under Clause 8.1; and (ii) the date which is five (5) Business
Days before the last date on which payment of Tax may be made to the relevant Tax Authority without incurring a liability to interest,
fines, surcharges or penalties.

**8.4** The representative member of any VAT Group shall have the responsibility to pay or account for VAT on
behalf of all members of that VAT Group. Where any such VAT has been paid or the liability to pay VAT has been discharged by the representative
member of any VAT Group, each Group Company that is a member of such VAT Group shall pay or reimburse to the representative member an
amount equal to such VAT that is chargeable on supplies made by such Group Company. Where a Group Company that is a member of a VAT Group
becomes liable to pay or discharge any VAT referable to supplies made by another member of such VAT Group, the representative member of
such VAT Group shall be treated for the purposes of Clause 8.1, as the person having the primary liability to pay such VAT.

**8.5** The Investors and the Company shall cooperate, and procure that its respective Affiliates cooperate, to
determine (i) whether any Group Company is or may become subject to any Pillar Two Taxes; and (ii) whether any Investor or its
Affiliate is or may be treated as a Pillar Two Responsible Investor for any Reporting Fiscal Year, including by way of providing notifications
of whether an Investor that intends or is required to consolidate any Group Company for the purposes of the Pillar Two Rules is or
may be brought within the scope of the Pillar Two Rules. If there is a Group Company Pillar Two Tax Cost for a Reporting Fiscal Year (including
for the avoidance of doubt any Reporting Fiscal Year falling wholly or partly prior to the date of this Agreement) in respect of which
that Investor is the Pillar Two Responsible Investor, then that Investor covenants to pay (on an after-Tax basis) to the Company an amount
equal to that Group Company Pillar Two Tax Cost, such payment to be made on or before the later of: (i) the date five Business Days
after demand therefor is made by the Company; and (ii) such date or dates as correspond to the latest date or dates on which the
relevant Group Companies can make payment of the Tax which fairly represent(s) the relevant Group Company Pillar Two Tax Cost without
incurring a liability to late payment interest or penalties. The exclusions in Clause 8.2 shall apply mutatis mutandis to the covenant
to pay in this Clause 8.5.

**8.6** The Investors and the Company shall cooperate reasonably and in good faith to ensure that any payments
made under Clause 8 are made in a Tax efficient manner, provided for the avoidance of doubt that this shall not oblige the Company to
issue any shares or securities to any Investor.

**8.7** Where this Agreement has been terminated by reason of the Lead Investor ceasing to hold any Securities
or ceasing to be the beneficial owner of any Securities, in each case pursuant to the exercise of the Call Option (as defined in the Option
Agreement), neither the Company nor any Investor shall be liable to make any payment under Clause 8 unless written notice of a claim for
payment under Clause 8 has been received by the person liable to make payment no later than the date falling 84 months after the termination
of this Agreement.

**9.** **FUNDING** 

**9.1** The Investors intend that the Group shall be self-financing, but if any Group Company requires additional
funding for any reason, including to fund its operating expenses or capital expenditure, or to fund an acquisition (including of shares
in any body corporate) ()"**Additional Funding** "), the provisions of this Clause 9 shall apply.

**9.2** If the Board determines that any Group Company requires Additional Funding and informs the Investors that
Additional Funding is required, then the Lead Investor may: (i) assist the relevant Group Company with arranging such Additional
Funding from such third-party equity or debt providers as the Lead Investor considers suitable; provided that, prior to the Call Option
Lapse Date, no Group Company may proceed with obtaining any Debt Finance from any such third-party without obtaining an Investor Direction
from the WBD Investor; or (ii) offer to provide such Additional Funding to the relevant Group Company in accordance with Clause 9.3
or Clause 9.4 (as applicable).

**9.3** Prior to the Call Option Lapse Date, the Lead Investor shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject to availability of funds, prevailing market conditions and the Group's compliance with applicable
requirements, provide such Additional Funding to the Anghami Group itself (if either: (i) the Lead Investor has offered to provide
such Additional Funding to the Anghami Group; or (ii) the Anghami Group has sought such Additional Funding from third-party equity
or debt providers and the Additional Funding is not available from such third-party equity or debt providers as the Lead Investor considers
suitable or any Debt Finance has not been approved by Investor Direction from the WBD Investor, where applicable); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) do so by providing such Additional Funding to the Company (which shall, in turn, provide that Additional
Funding to the Anghami Group) in the same form and on the same economic terms as are agreed between the Company and Anghami in relation
to the subsequent funding from the Company to the Anghami Group;

provided that, prior to the Call Option Lapse Date, the Lead Investor shall only provide funding to the Company by way of subscription for Shares in the Company in accordance with Clause 10 (*New Issues of Securities*).

**9.4** After the Call Option Lapse Date, the Lead Investor may agree with any Group Company to provide Debt Finance
to the Company, with the principal and interest of such debt to be repaid in cash by the relevant Group Company, provided that, for so
long as the WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami: (i) the interest rate payable does
not exceed 12.5 per cent. per annum; and (ii) the relevant Group Company has been unable to arrange equivalent debt funding from
a third party provider with an interest rate payable in cash of less than 12.5 per cent. per annum.

**9.5** The provisions of Clause 10 shall apply to the extent any Additional Funding will involve or be provided
in exchange for an issue of Securities.

**10.** **NEW ISSUES OF SECURITIES** 

**10.1** Subject to Clause 10.2 and Clause 10.8, on any issue of Securities other than an Excluded Issue (the
" **New Securities** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Security Holder is entitled, but not obliged, to subscribe for its Pro-Rata Portion of Securities
comprising the New Issue on the same terms and in the same proportions as any other persons participating in the New Issue; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) prior to the completion of such New Issue, the issuer(s) of Securities in the proposed New Issue
shall notify each relevant Security Holder in writing of its entitlement to its Pro-Rata Portion of Securities comprising the New Securities
pursuant to Clause 10.1(a):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) specifying the number and class of such Securities to which it is entitled (which must be Shares in the
Company prior to the Call Option Lapse Date and Securities in the Company thereafter);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) confirming the purpose for which the proceeds of the New Issue are required (which must be one of the
purposes specified in Clauses 10.1(b)(iii)(A) or (B));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) specifying the price per class of Security to be issued by the Company which must not be lower than the
look through value of: (A) the acquired ordinary shares of Anghami if the purpose for which the proceeds of the New Issue are required
is to acquire additional ordinary shares of Anghami; or (B) the Securities to be issued by Anghami as at the date of the New Issue
if the purpose for which the proceeds of the New Issue are required is to meet Anghami's funding needs (the "**Issue Floor** ");
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) specifying the time (being not less than 15 Business Days, unless the circumstances specified in
Clause 10.2 apply) within which the offer, if not accepted by notice in writing, will be deemed to be declined,

(the "**Pre-Emption Notice**").

**10.2** If so directed by the Lead Investor in circumstances where the Lead Investor reasonably believes that
the Group requires funding on an urgent basis, the issuer(s) in the proposed New Issue may deliver a Pre-Emption Notice to each relevant
Security Holder (which shall include the information set out in Clause 10.1, provided that the time within which the offer to participate
in the proposed New Issue at the same time as the Lead Investor, if not accepted by notice in writing, will be deemed to be declined shall
be not less than 5 Business Days). To the extent that any Security Holder actually declines or is deemed to decline such Pre-Emption Notice,
the issuer(s) in such proposed New Issue shall issue the New Securities of such Security Holder to the Lead Investor (an "**Accelerated Issue**") and, subject to Clause 10.3, any rights of pre-emption for other relevant Security Holders in respect of the Accelerated
Issue (the "**Affected Security Holders**") shall be automatically waived.

**10.3** Following an Accelerated Issue:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each Affected Security Holder is entitled, but not obliged, to purchase from the Lead Investor (without
regard to any pre-emption rights or rights of first offer, including as set out in Schedule 4 (*Right of First Offer*)) such number
of each class of Securities comprising the New Securities (at the same price, on the same terms and in the same proportion of each class
of New Securities as issued to the Lead Investor in the Accelerated Issue) which would result in the Affected Security Holder holding
the Pro-Rata Portion it held immediately prior to the Accelerated Issue (the "**New Issue Option** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) within 20 Business Days following such Accelerated Issue, the issuer(s) in the Accelerated Issue
shall notify each Affected Security Holder in writing of its entitlement pursuant to Clause 10.3(a), specifying the number and class of
Securities to which it is entitled to purchase from the Lead Investor, the price per class of Security, and the time (being not less than
10 Business Days) within which the offer, if not accepted by notice in writing will be deemed to be declined; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if an Affected Security Holder elects to exercise a New Issue Option:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Affected Security Holder shall pay to the Lead Investor the aggregate price for the Securities subject
to the New Issue Option and the Lead Investor shall receive such amount to an account nominated by the Lead Investor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Lead Investor shall deliver to the relevant Affected Security 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) a duly executed share transfer form in respect of the Securities subject to the New Issue Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a certified copy of the updated register of members reflecting the transfer of the Securities subject
to the New Issue Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) written resolutions of the directors of the Group Company or minutes of a meeting of the board of directors
of the Group Company approving:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the transfer of the Securities subject to the New Issue Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) instructions to the Group Company's registered office to update the Group Company's register
of members to reflect the transfer of the Securities subject to the New Issue Option.

**10.4** Any Security Holder exercising its rights to subscribe for or acquire New Securities pursuant to this
Clause 10 (*New Issues of Securities*) shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject to the satisfaction of the Lead Investor's obligations under this Clause 10, be obliged
to subscribe for or acquire, and fund such subscription or acquisition, in accordance with the timetable set out in Clauses 10.1 to 10.3
above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to the satisfaction of the Security Holder's obligations under this Clause 10, acquire or
be issued with the relevant Securities fully paid and free and clear of all Encumbrances; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) as a condition to any subscription or acquisition (other than with Investor Consent from the Lead Investor)
be required to subscribe for or acquire the same proportion of its entitlement to each class of New Securities comprising the New Issue.

**10.5** To the extent that any Security Holder declines, or is deemed to decline, an offer for all or part of
his Pro-Rata Portion of New Securities in accordance with Clause 10.1(a), the board of directors of each Group Company proposing to issue
such New Securities shall deal with such declined New Securities as determined by the Board, subject to compliance with Clause 12 (*Deed of Adherence*) and provided that no New Securities may be issued to any Restricted Transferee or WBD Competitor.

**10.6** If the WBD Investor does not exercise its rights to subscribe for or acquire New Securities pursuant to
Clauses 10.1 to 10.4 (*New Issues of Securities*) at any time prior to the Call Option Lapse Date, it may notify the Company within
10 Business Days of the date of the New Issue that it believes the subscription or acquisition price per class of Security is lower than
the Issue Floor following which: (i) the issuer(s) of Securities shall promptly provide the calculations and supporting materials
used in determining the price per class of Security; (ii) the Lead Investor and the WBD Investor shall seek to resolve the dispute
amicably; and (iii) if not resolved within 10 Business Days, the Company shall refer the matter to the Independent Expert for determination
and the provisions of Clauses 10.7 and 10.8 shall apply. In carrying out the determination: (A) the Independent Expert shall act
as expert and not as arbitrator; and (B) the determination of the Independent Expert shall, except in the case of manifest error,
be final and binding on the Company and the Security Holders.

**10.7** If the Independent Expert determines that the relevant subscription or acquisition price per share is
lower than the Issue Floor, the Company shall issue or the Lead Investor shall transfer (as applicable), in each case acting reasonably
and in good faith and within 10 Business Days of the Independent Expert's final determination, to the WBD Investor such number of New
Securities (rounded up to the nearest whole number) as is necessary to reflect the position which would have resulted had the New Securities
been issued or acquired at the Issue Floor (assuming, for the purposes of such calculation, no corresponding adjustment to any subscription
or acquisition amount funded with respect to the New Securities).

**10.8** If the Independent Expert determines that the relevant subscription or acquisition price per share is
not lower than the Issue Floor, the costs and expenses of the Independent Expert incurred to make his or her determination shall be borne
by the WBD Investor. If the Independent Expert determines that the relevant subscription or acquisition price per share is lower than
the Issue Floor, the costs and expenses of the Independent Expert incurred to make his or her determination shall be borne by the Lead
Investor.

**10.9** The provisions of clause 7 (*New Issues of Securities*) of the Acquisition Agreement shall apply
to the WBD Investor until and including the Third Completion Date and the provisions of this Clause 10 shall apply to the WBD Investor
on and from the date immediately following the Third Completion Date.

**11.** **TRANSFERS OF SECURITIES** 

**11.1** No party to this Agreement shall Transfer any Securities, unless such Transfer is required or permitted
pursuant to, and in each case carried out in accordance with, the provisions of this Agreement.

**11.2** Notwithstanding any other provision of this Agreement, no party to this Agreement may Transfer any Securities
to any Restricted Transferee without the prior written consent of the other parties.

**11.3** Each relevant Group Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) shall be obliged to register any Transfer of Securities required or permitted pursuant to, and in each
case carried out in accordance with, the provisions of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) shall not register a Transfer of Securities unless such Transfer of Securities is required or permitted
pursuant to, and in each case carried out in accordance with, the provisions of this Agreement.

**11.4** **Pre-Call Option Lapse Date** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Investors and their Investor Transferees may, at any time, Transfer their Securities to an Investor
Transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except in accordance with Clause 11.4(a) or as carried out in accordance with the provisions of the
Option Agreement, no Security Holder is permitted to Transfer its Securities on or prior to the Call Option Lapse Date.

**11.5** **Post-Call Option Lapse Date** 

From the date immediately following the Call Option Lapse Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Security Holder may Transfer its Securities to the extent required or permitted pursuant to: (i) Schedule
5 (*Tag-Along*); (ii) Schedule 6 (*Drag-Along*); (iii) a Reorganisation Transaction in accordance with Clause 14 (*Reorganisation Transactions*); and/or (iv) an IPO in accordance with Clause 13 (*Exit and Refinancing*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Investors and their Investor Transferees may Transfer their Securities to any other person, subject
to Schedule 4 (*Right of First Offer*) and Schedule 5 (*Tag-Along*) and pursuant to Schedule 6 (*Drag-Along*) if applicable,

in each case, subject to Clause 11.2.

**11.6** **Cessation Of Investor Transferees** 

Where any person to whom Securities have been transferred as an Investor Transferee of a Security Holder (an "**Original Holder**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ceases to be an Investor Transferee of the Original Holder; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) makes a resolution for its winding up, makes an arrangement or composition with its creditors or makes
an application to a court of competent jurisdiction for protection from its creditors or an administration or winding up order is made
or an administrator or receiver is appointed in relation to it,

it shall immediately transfer all Securities held by it to the Original Holder or to such other person as permitted by Clause 11.4(a) and, prior to such transfer, the provisions of Clause 11.7 shall apply.

**11.7** **Defaulting Security Holders** 

The Company may request any Security Holder to provide to the Company any information or evidence relevant to considering whether a purported Transfer of Securities is in breach of this Agreement. If such information or evidence is not provided within 10 Business Days of any request as satisfies the Company (acting reasonably) that a purported Transfer of Securities is not in breach of this Agreement the Board shall notify the relevant Security Holder (the "**Defaulting Security Holder**") that a breach of this Clause 11 (*Transfers of Securities*) has occurred, whereupon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each relevant Group Company shall refuse to register the purported Transfer (other than with Investor
Direction from the Lead Investor or, where the Defaulting Security Holder is the Lead Investor, with Investor Consent and, prior to the
Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the WBD Investor holds 7.5% or more, directly or indirectly,
of the Shares of Anghami), Investor Direction from the WBD Investor);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Relevant Securities shall cease to confer on the holder thereof any rights in relation to them and
such holder shall be deemed to have waived and released all the voting rights attached to the Relevant Securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the purported transferee shall have no rights or privileges in respect of such Securities or this Agreement
and in particular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with respect to the Relevant Securities, the purported transferee shall not be counted in determining
the total number of votes which may be cast at any such meeting, or required for the purposes of a written resolution of any Shareholders
or any class of Shareholders, or for the purposes of any other consent required under the constitutional documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the purported transferee shall cease to have (and hereby waive) any rights of pre-emption with respect
to the Relevant Securities on any New Issues pursuant to this Agreement or otherwise.

**12.** **DEED OF ADHERENCE** 

**12.1** Notwithstanding any other provision of this Agreement, unless this Agreement terminates in accordance
with Clause 20(a) or the Board approves to the contrary (including a vote in favour from at least one Investor Director appointed
by each Major Investor and one Investor Director appointed by the WBD Investor for so long as it is entitled to appoint an Investor Director),
no person who is not a party to this Agreement shall be entitled to become a transferee of any Securities, nor to have any Securities
issued to it, or to acquire any rights hereunder or be registered as the holder of any Securities unless such person signs, executes and
delivers a fully valid and binding Deed of Adherence substantively in the form set out in Schedule 7 (*Deed of Adherence*) *provided that* this provision shall not apply in the case of Transfers of Securities to, or issues of Securities to, another Group Company as
part of a Reorganisation Transaction, *provided further that* where such Group Company to which Securities have been transferred
as part of such Reorganisation Transaction (A) ceases to be a Group Company; and/or (B) makes a resolution for its winding up,
makes an arrangement or composition with its creditors or makes an application to a court of competent jurisdiction for protection from
its creditors or an administration or winding up order is made or an administrator or receiver is appointed in relation to it, such Group
Company shall immediately transfer all Securities held by it to another Group Company to which the circumstances set out in (B) do
not apply and, prior to such transfer, the provisions of Clause 11.6 shall apply.

**12.2** The benefit of this Agreement shall extend to any person who acquires, or has issued to it, Securities
in accordance with this Agreement and who enters into a Deed of Adherence, but without prejudice to the continuation *inter se* of
the rights and obligations of the original parties to this Agreement and any other persons who have entered into such a Deed of Adherence.

**13.** **EXIT AND REFINANCING** 

**13.1** The Lead Investor shall, in its absolute discretion, establish the timing, structure, pricing and other
terms and conditions of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Sale, Asset Sale or IPO from the date immediately following the Call Option Lapse Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any raising of debt financing or refinancing of any existing debt or equity financing arrangements of
the Group (a "**Refinancing** "),

provided that the Lead Investor may pursue any such Sale or Asset Sale to the extent required to effect or implement the Music Business Carve-out at any time (including before the Call Option Lapse Date) where the Music Business Carve-Out is implemented in compliance with the requirements contained in Clause 6.1(b)(iv).

**13.2** Other than as provided for in accordance with Clause 13.1, no Security Holder is permitted to implement,
or take steps to implement, any Sale, Asset Sale, IPO or Winding Up on or prior to the Call Option Lapse Date.

**13.3** All parties agree to take such action, and to procure that such action is taken, as is reasonably requested
by the Board or the Lead Investor to achieve any Exit or Refinancing that has been implemented in accordance with Clause 13.1, including,
without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) appointing professional and corporate finance advisers approved by the Company (and/or relevant Group
Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) assisting in the production and negotiation of such documentation as is required to effect the Exit or
Refinancing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) giving such co-operation and assistance as the Lead Investor reasonably requests; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) in the event of a proposed IPO, agreeing and entering into (to the extent they are considered reasonably
necessary or desirable by the underwriters or corporate finance advisers advising on the Exit):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) undertakings in relation to the retention, disposal or manner of disposal of their Securities (or securities
received as consideration for their Securities) (known as "lock-ups"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) provisions designed to result in an orderly disposal of Securities (or securities received as consideration
for their Securities) by the Security Holders.

**13.4** Each Investor acknowledges and agrees that, in the event of a proposed IPO:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Lead Investor agrees to accept restrictions on the Transfer of some or all of its Securities which
are subject to such IPO for any period after such IPO, such restrictions will apply to all the Investors equally if so determined by the
lead underwriter to be necessary or appropriate for the orderly transition of the Securities onto the public markets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if such IPO results in the admission of all or any of the issued share capital of any Group Company (other
than the Company), then each Investor shall be given the opportunity to participate in the IPO by directly exchanging its Securities in
the Company for its Pro-Rata Portion of Securities in the Group Company in which shares have been admitted to trading as a result of the
IPO.

**13.5** In the event of a proposed IPO, the parties shall discuss in good faith and (if required by the underwriters)
agree a relationship agreement between the parties for the period following the IPO, replicating so far as is possible the provisions
of this Agreement (taking into account Applicable Law and the rules of the relevant exchange).

**13.6** The parties acknowledge that, on an Exit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Investors and the Investor Directors will not give any representations, warranties or indemnities
in connection with the Group, except for a warranty to be given by each Investor as to the title to the Securities held by it and as to
its capacity to sell those Securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) there shall be no arrangements or agreements in relation to the purchase price for an Exit or any other
collateral benefit linked to the Exit, other than those set out in the principal transaction documents giving effect to the Exit, other
than with prior Investor Consent and, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the
WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), Investor Direction from the WBD Investor.

**14.** **REORGANISATION TRANSACTIONS** 

**14.1** Subject to Clause 14.4, to the fullest extent permitted by Applicable Law and upon the approval of the
Board, the Company or any member of the Group shall be permitted to take any actions which are necessary, appropriate or desirable (in
light of Tax, legal, regulatory or other professional advice received by the Group) to effect a Reorganisation Transaction so as to optimise
the Group's corporate structure (including for the purposes of an Exit, Refinancing or the Music Business Carve-out which is otherwise
permitted in accordance with the provisions of this Agreement) provided that such Reorganisation Transaction does not adversely impact:
(i) the Investment or the WBD Investor's Securities to a material extent; (ii) the Tax or legal position of the WBD Investor
to a material extent; or (iii) any Investor in a manner that is materially disproportionate to the effect on the other Investors.

**14.2** Each Security Holder acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject to Clause 14.3, it may receive any shares or other securities of any class issued by any
Group Company, as determined by the Lead Investor, by way of a dividend or distribution in kind or in exchange for, or otherwise in replacement
of, Securities (the "**Replacement Securities**") as part of any such Reorganisation Transaction (in which case, to the
extent applicable, this Agreement shall apply to any New Holding Company as if references to the Company were references to it); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it shall enter into any documentation, provide any consents and exercise its voting rights (as a Security
Holder or otherwise) as are required to give effect to the Reorganisation Transaction.

**14.3** The number of Replacement Securities to be received by any Security Holder as a result of any Reorganisation
Transaction will, to the extent such Replacement Securities have not been sold or otherwise disposed of by such Security Holder in any
IPO or otherwise after such Reorganisation Transaction in accordance with this Agreement, reflect the fair market value of the investment,
prior to such Reorganisation Transaction as determined by the Lead Investor, of such Security Holder in any Securities that are exchanged
as part of the Reorganisation Transaction.

**14.4** The parties agree that the Option Agreement shall be amended to give full effect to the original intent
and effect of the Option Agreement.

**15.** **TAX MATTERS** 

**15.1** Subject to Clauses 15.2 to 15.7 (inclusive), the Lead Investor irrevocably undertakes that it will contribute
to, or cause to be contributed to, the Company or a relevant Group Company (on an after-Tax basis) an amount equal to any Tax Liability
of any Group Company.

**15.2** The obligation in Clause 15.1 shall not apply to a Tax Liability, if and to extent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Tax Liability has been made good pursuant to a claim under the RWI Policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Tax Liability arises in the ordinary course of business of the relevant Group Company between 31 December 2023
and the date of this Agreement, provided that for the purposes of this Clause 15.2(b) and without limitation, any: (i) Tax for
which a Group Company is liable after having failed to make any registration or return required by law in respect thereof; and/or (ii) any
interest, penalty, surcharge, fine or additional liability to Tax which in each case arises as a result of a Group Company failing to
comply with any requirement of applicable Tax legislation or the published practice of any Tax Authority, shall be deemed not to have
arisen in the ordinary course of business of that Group Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Tax Liability would not have arisen but for: (i) a change in legislation, regulation, rule, directive
requirement, published practice or concessions of any Tax Authority; (ii) any change of application having the force of law of such
legislation, regulation, rule, directive, requirement or published practice; or (iii) any change in rates of Tax, in each of cases
(i) to (iii) which is announced after the date of the Acquisition Agreement (whether or not the change purports to take effect
retrospectively in whole or in part);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Tax Liability is interest, a penalty, a surcharge or a fine arising from a failure to pay Tax to a
Tax Authority within a reasonable time after the Lead Investor has made the contribution of the amount required under Clause 15.1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any Relief is available to reduce or eliminate that Tax Liability; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Tax Liability has been made good without cost to any of the Group Companies.

**15.3** The Lead Investor shall not be liable to make a contribution under Clause 15.1, if the amount which the
Lead Investor would otherwise be required to contribute in respect of that Tax Liability is less than $250,000, provided that for the
purposes of this Clause 15.3, if such a Tax Liability is part of a series of Tax Liabilities arising from the same, or similar, facts
or circumstances, then any and all Tax Liabilities within that series shall be aggregated and treated as a single Tax Liability.

**15.4** The maximum aggregate liability of the Lead Investor to make contributions under Clause 15.1 shall not
exceed $5,000,000.

**15.5** The Investors and the Company shall cooperate reasonably and in good faith to ensure that any contributions
made or to be made under Clause 15.1 are made in a Tax efficient manner, provided for the avoidance of doubt that this shall not oblige
the Company to issue any shares or securities to any Investor.

**15.6** The Lead Investor shall make any contribution required under Clause 15.1 on the later of (i) the
date which is ten (10) Business Days after receiving notice from the Company or the WBD Investor of a claim for a contribution to
be made under Clause 15.1; and (ii) the date which is five (5) Business Days before the last date on which payment of Tax may
be made to the relevant Tax Authority without incurring a liability to interest, fines, surcharges or penalties,  ***provided that*** if
the Company can reasonably make a claim under the RWI Policy in respect of the relevant Tax Liability giving rise to a claim under Clause
15.1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall first use reasonable efforts to make a claim in respect of such Tax Liability under
the RWI Policy before bringing a claim under Clause 15.1; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Lead Investor shall not be obligated to make any contribution under Clause 15.1 unless and until the
claim under the RWI Policy has been satisfied, denied or otherwise settled.

**15.7** Where this Agreement has been terminated by reason of the Lead Investor ceasing to hold any Securities
or ceasing to be the beneficial owner of any Securities, in each case pursuant to the exercise of the Call Option (as defined in the Option
Agreement), the Lead Investor shall not be liable to make contributions under Clause 15.1 unless written notice of a claim for a contribution
has been received by the Lead Investor no later than the date falling 84 months after the termination of this Agreement.

**16.** **ANNOUNCEMENTS** 

Unless otherwise agreed in writing by the Investors, no party shall issue any press release, issue any public document or make any public statement or otherwise make any disclosure to any person who is not a party to this Agreement relating to any of the matters provided for or referred to in this Agreement or any ancillary matter. This Clause 16 shall not apply to any announcement or disclosure required by law or by any competent judicial or regulatory authority or by any recognised investment exchange (in which case the parties shall co-operate, in good faith, in order to agree the content of any such announcement, so far as practicable, prior to its being made) or which is permitted under Clause 17.1.

**17.** **CONFIDENTIALITY** 

**17.1** Notwithstanding any other provision of this Agreement, the Investors shall be entitled at all times to
consult freely about the Group and its affairs with, and to disclose Confidential Information and the contents of the Transaction Documents
(and any ancillary documents related thereto):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to (i) any of its Investor Affiliates and each of their respective Representatives; and/or (ii) any
other Investors or their respective Investor Affiliates and each of their Representatives; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to any proposed purchaser, underwriter, sponsor or broker or lender and their respective Representatives,
for the purposes of facilitating either a Transfer of Securities, disposal of assets of a member of the Group, issue of Securities, Refinancing,
Reorganisation Transaction or Exit subject to the relevant Investor procuring that any such recipient is made aware of the confidential
nature of the Confidential Information and relevant Transaction Documents (and any ancillary documents related thereto) and agrees to
treat it accordingly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to the Company and any other Group Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) in accordance with Clause 7.3.

**17.2** Subject to Clause 17.1, each party shall in all respects keep confidential, and not at any time disclose,
make known in any other way, or use for his own or any other person's benefit or to the detriment of any Group Company or any other
Investor or their respective Investor Affiliates, any Confidential Information, *provided that*:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) such obligation shall not apply to information which has come into the public domain (other than through
a breach by any party of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any party shall be entitled at all times to disclose such information as may be required by Applicable
Law, any Governmental Authority or any recognised stock or securities exchange on which the shares of any party or any member of its Group
or any Group Company is listed (including where this is required as part of any actual or potential offering, placing and/or sale of securities
of that party or a member of its Group or Group Company) or for the purpose of any judicial or arbitral proceedings arising out of any
Transaction Document or for Tax or accounting purposes (*provided that*, so far as practicable and legally permissible, the disclosing
party shall consult with the other parties prior to making such disclosure); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) nothing contained in this Clause 17 shall prevent any employee or officer of any Group Company from disclosing
information in the proper performance of his duties as an employee or officer of such Group Company.

**18.** **FEES, COSTS AND EXPENSES** 

**18.1** **Exit/Refinancing Costs** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The relevant Group Company shall pay all fees, costs and expenses in connection with any Exit (including
a Tag-Along Sale or Drag-Along Sale), Refinancing or Reorganisation Transaction (including advisers' fees) to the extent permissible
under Applicable Law, save to the extent the Board determines that the payment of any such fees, costs and expenses would result in adverse
legal or Tax consequences for the Group Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If such Group Company is prohibited by Applicable Law from paying all such fees, costs and expenses, or
if the payment of any such fees, costs and expenses would result in adverse legal or Tax consequences for the Group Company as determined
by the Board, then the Security Holders shall procure that such fees, costs and expenses are deducted from the aggregate consideration
received prior to any funds being paid to Security Holders, and will be borne by each of the Security Holders in the same proportions
as the proceeds received by them in connection with the Exit or Refinancing (as applicable).

**18.2** **Other Costs** 

Except as otherwise stated in this Clause 18, each party shall pay its own fees, costs and expenses incurred in connection with the preparation, negotiation and/or completion of this Agreement.

**19.** **RELATIONSHIP OF AGREEMENT TO TRANSACTION DOCUMENTS** 

**19.1** If there is any conflict between the provisions of this Agreement and any other Transaction Document then,
to the fullest extent permitted by Applicable Law, the provisions of this Agreement shall prevail.

**19.2** If any such conflict should be identified, each of the Security Holders agrees and undertakes, if so requested
by the Lead Investor, to exercise its voting rights and other rights as a director and/or Security Holder in order to amend the relevant
Transaction Document or articles of association of the relevant Group Company in order to eliminate the conflict by causing the relevant
document to be amended so that it is consistent with this Agreement.

**20.** **DURATION** 

Without prejudice to the accrued rights of any party and save in respect of the Surviving Provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this Agreement shall terminate on the earlier of (and contemporaneously with): (i) the date of completion
of an Exit; and (ii) the date on which a Winding Up is concluded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to subparagraph (a), in respect of an Investor, on such Investor (and any of its Investor Transferees)
ceasing to hold any Securities or ceasing to be the beneficial owner of any Securities, this Agreement shall terminate with respect to
that party only (such that the terms of this Agreement may subsequently be varied without the consent of such party), *provided that* such party shall have complied with its obligations under Clause 11 (*Transfers of Securities*) with respect to any Transfer
of its Securities (and the relevant transferee(s) shall have entered into a Deed of Adherence (unless the Board has approved to the
contrary pursuant to Clause 12.1) and, where applicable, a deed of accession to any intercreditor deed which forms part of the Financing
Documents).

**21.** **VARIATIONS AND WAIVERS** 

**21.1** No variation of this Agreement shall be effective unless made in writing and signed by or on behalf of
all the Investors and the Company.

**21.2** **No Waiver** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No failure or delay by any Investor or time or indulgence given in exercising any remedy or right under
or in relation to this Agreement shall operate as a waiver of the same nor shall any single or partial exercise of any remedy or right
preclude any further exercise of the same or the exercise of any other remedy or right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No waiver by any party of any requirement of this Agreement, or of any remedy or right under this Agreement,
shall have effect unless given in writing and signed by such party. No waiver of any particular breach of the provisions of this Agreement
shall operate as a waiver of any repetition of such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any waiver, release or compromise or any other arrangement of any kind whatsoever which an Investor gives
or enters into with any other party in connection with this Agreement shall not affect any right or remedy of any Investor as regards
any other parties or the liabilities of any other such parties under or in relation to this Agreement.

**22.** **ENTIRE AGREEMENT** 

**22.1** This Agreement and the Transaction Documents together contain the entire agreement and understanding of
the parties and supersede all prior agreements, understandings or arrangements (both oral and written) relating to the subject matter
of this Agreement and any such document.

**22.2** Each of the parties acknowledges that it is entering into this Agreement without reliance on any undertaking
or representation given by or on behalf of any other party to this Agreement, other than as expressly contained in this Agreement, and
provided that nothing in this Clause 22.2 shall exclude any liability of any party for fraud or fraudulent misrepresentation.

**22.3** This Agreement shall not be construed as creating any partnership or agency relationship between any of
the parties, except where this Agreement expressly so provides.

**22.4** Without prejudice to any liability for fraud, fraudulent misrepresentation or fraudulent misstatement,
the only rights or remedies in relation to any representation, warranty, assurance, covenant, indemnity, undertaking or commitment given
or action taken in connection with this Agreement are contained in this Agreement, and no party shall have any right to rescind this Agreement.

**23.** **ASSIGNMENT** 

**23.1** Subject to Clause 23.2, no party shall be entitled to assign the benefit or burden of any provision
of this Agreement (or any of the documents referred to herein) without the prior written consent of all other Investors.

**23.2** All or any of an Investor's rights under this Agreement may be assigned by that Investor to any
third party to whom it Transfers Securities or to any Investor Affiliate of that Investor to whom it Transfers Securities, *provided that*:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of an assignment to an Investor Affiliate, if such assignee ceases to be an Investor Affiliate
such rights are assigned to the Investor or another Investor Affiliate of that Investor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) rights granted only to the WBD Investor under this Agreement may only be assigned by the WBD Investor
to the WBD Investor's Investor Transferees.

**23.3** No assignment of this Agreement shall operate to increase the liability of any of the parties under this
Agreement.

**24.** **COUNTERPARTS** 

This Agreement may be executed as two or more counterparts and execution by each of the parties of any one of such counterparts will constitute due execution of this Agreement.

**25.** **FURTHER ASSURANCE** 

**25.1** Each party shall observe and comply fully with the provisions of this Agreement and each of the Transaction
Documents and undertakes to exercise its rights (whether in its capacity as a Security Holder, shareholder, director or employee (in each
case as far as may be applicable)) to give full effect to the provisions of this Agreement including, without limitation, to pass any
shareholder resolutions of the Company and to enter into such proxies, consents to short notice, waivers of pre-emption and other documentation
as is required to implement any New Issue (including any Accelerated Issue), Excluded Issue, Tag-Along Sale, Drag-Along Sale, Transfer
permitted by this Agreement, Exit or Reorganisation Transaction permitted or required by, and carried out in accordance with, the terms
of this Agreement, provided that no Security Holder shall be obliged to give any representations, warranties or indemnities except for
those expressly required by the terms of this Agreement.

**25.2** Each party shall, and shall use all reasonable endeavours to procure that any of its Investor Affiliates,
do and execute and perform all such further deeds, documents, assurances, acts and things as may reasonably be required to give full effect
to this Agreement.

**26.** **OTHER REMEDIES** 

**26.1** Any remedy or right conferred upon any party for breach of this Agreement shall be in addition to and
without prejudice to all other rights and remedies available to them.

**26.2** Each party agrees and acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a person with rights under this Agreement may be irreparably harmed by any breach of its terms, and that
damages alone may not necessarily be an adequate remedy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without affecting any other rights or remedies, if a breach of this Agreement occurs or is threatened,
the remedies of injunction, specific performance and other equitable relief, or any combination of these remedies, may be available; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it shall, if any of the remedies set out in subparagraph (b) is sought in relation to any threatened
or actual breach of the terms of this Agreement, waive any rights it may have to oppose that remedy on the grounds that damages would
be an adequate alternative.

**27.** **LIABILITY** 

Each party's obligations, covenants, warranties, representations and undertakings are given solely with respect to itself and with respect to an Investor, where applicable, its Investor Affiliates as if expressed to be given severally and not jointly and severally or jointly.

**28.** **THIRD PARTY RIGHTS** 

**28.1** A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties)
Act 1999 to enforce any term of, or enjoy any benefit under, this Agreement.

**29.** **INVALIDITY** 

If any provision of this Agreement shall be held to be illegal, void, invalid or unenforceable, the legality, validity and enforceability of the rest of this Agreement shall not be affected. In particular, if any provision of this Agreement incorporates or refers to provisions in a Schedule to this Agreement, then this Agreement is to be construed so as to create separate provisions in respect of each of the individual provisions set out in that Schedule, and if one of those provisions shall be held to be illegal, void, invalid or unenforceable, then the legality, validity and enforceability of the rest of those provisions shall not be affected.

**30.** **NOTICES** 

**30.1** **Form Of Notice** 

Any notice, consent, request, demand, approval or other communication to be given or made under or in connection with this Agreement (each a "**Notice**" for the purposes of this Clause 30) shall be in writing and signed by or on behalf of the person giving it.

**30.2** **Method Of Service** 

Service of a Notice must be effected by one of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by hand to the relevant address set out in Clause 30.4 and shall be deemed served upon delivery if
delivered during a Business Day, or at the start of the next Business Day if delivered at any other time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by prepaid international airmail to the relevant address set out in Clause 30.4 and shall be deemed
served at the start of the fourth Business Day after the date of posting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by email to the relevant address set out in Clause 30.4 and shall be deemed served at time of sending, *provided that* receipt shall not occur if the sender receives an automated message indicating that the message has not been delivered
to the recipient.

**30.3** In Clause 30.2 "during a Business Day" means any time between 9.30 a.m. and
5.30 p.m. on a Business Day based on the local time where the recipient of the Notice is located. References to "the start
of a Business Day" and "the end of a Business Day" shall be construed accordingly.

**30.4** **Address For Service** 

Notices shall be addressed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notices for the Company shall be marked for the attention of:

Name: OSN Streaming Limited <br> Address: OSN Building Dubai Media City, Dubai, UAE <br> Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notices for the Lead Investor shall be marked for the attention of:

Name: OSN Streaming Holding Limited <br> Address: OSN Building Dubai Media City, Dubai, UAE <br> Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notices for the WBD Investor shall be marked for the attention of:

Name: Julian Pitcher and Pinar Solakoglu <br> Address: Chiswick Park Building 2, 566 Chiswick High Road, London, England, W4 5YB <br> Email: [\*\*\*] and [\*\*\*]

With a copy (which shall not itself constitute Notice) to Allen Overy Shearman Sterling LLP for the attention of Nick Withers [\*\*\*] and Alex Skelton [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the case of any other party to this Agreement, from time to time, Notices shall be addressed to the
relevant party at the address set out in that party's Deed of Adherence.

**30.5** **Change Of Details** 

A party may change its address for service *provided that* it gives the other party not less than 15 days' prior notice in accordance with this Clause 30. Until the end of such notice period, service on either address shall remain effective.

**30.6** **Email Communication** 

Notwithstanding the provisions of Clauses 30.1 and 30.2, any communication to be sent or supplied to the Company or by the Company for the purposes of Clause 6 (*Conduct of Business*), and Clause 7 (*Provision of Information*) may be made by email to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of the Company, such email address as may be specified for this purpose by the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any other party, such email address as may be notified to the Company in writing for this
purpose,

and such communications shall be deemed served on delivery (as evidenced by a delivery receipt).

**31.** **CAPACITY** 

**31.1** Each party warrants to each other party that it has full power and authority and has obtained all necessary
consents to enter into and perform the obligations expressed to be assumed by it under this Agreement (and any other agreement or arrangement
to be entered into by it in connection with this Agreement), that the obligations expressed to be assumed by it under this Agreement and
each such other agreement are legal, valid and binding and enforceable against it in accordance with their terms and that the execution,
delivery and performance by it of this Agreement and each such other agreement and arrangement will not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) result in a breach of, or constitute a default under, any agreement or arrangement to which it is a party
or by which it is bound or under its constitutive documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) result in a breach of any law or order, judgment or decree of any court, governmental agency or regulatory
body to which it is a party or by which it is bound.

**32.** **GOVERNING LAW AND JURISDICTION** 

**32.1** This Agreement and the rights and obligations of the parties, including the validity and enforceability
of this Agreement, the capacity of the parties and all non-contractual obligations arising under or in connection with this Agreement,
shall be governed by and construed in accordance with the laws of England and Wales.

**32.2** The parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales in respect
of any claim, dispute or difference arising out of or in connection with this Agreement, and/or any non-contractual obligations arising
in connection with this Agreement.

**In Witness Whereof the Parties have executed this Agreement on the Day and Year First stated.**

---

| | | |
|:---|:---|:---|
|  | ![](tm2521677d1_ex13img002.jpg) | /s/ Joseph El Kawkabani |
|  | ![](tm2521677d1_ex13img002.jpg) | Joseph El Kawkabani |
| **SIGNED** for and on behalf of | ![](tm2521677d1_ex13img002.jpg) | Authorised Signatory |
| **OSN STREAMING LIMITED** | ![](tm2521677d1_ex13img002.jpg) |  |
| by | ![](tm2521677d1_ex13img002.jpg) |  |
|  |  | /s/ Fiona Robertson |
|  |  | Fiona Robertson |
|  |  | Authorised Signatory |

---

---

| | | |
|:---|:---|:---|
|  | ![](tm2521677d1_ex13img002.jpg)  | /s/ Joseph El Kawkabani |
|  | ![](tm2521677d1_ex13img002.jpg)  | Joseph El Kawkabani |
| **SIGNED** for and on behalf of | ![](tm2521677d1_ex13img002.jpg)  | Authorised Signatory |
| **OSN STREAMING HOLDING LIMITED** | ![](tm2521677d1_ex13img002.jpg)  |  |
| by | ![](tm2521677d1_ex13img002.jpg)  | /s/ Fiona Robertson |
|  | ![](tm2521677d1_ex13img002.jpg)  | Fiona Robertson |
|  | ![](tm2521677d1_ex13img002.jpg)  | Authorised Signatory |

---

[*Signature page to SHA*]

---

| | |
|:---|:---|
| **EXECUTED** for and on behalf of | **EXECUTED** for and on behalf of |
| **DPLAY ENTERTAINMENT LIMITED** | **DPLAY ENTERTAINMENT LIMITED** |
| by | /s/ Roanne Weekes |
| Name: | Roanne Weekes |
| Title: | Director |

---

[*Signature page to SHA*]

**Schedule 1 INVESTORS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Address** |
| &nbsp;&nbsp;OSN Streaming Holding Limited | &nbsp;&nbsp;Unit IH-00-01-01-OF-01, Level 1, Innovation Hub, Dubai International Financial Centre, Dubai, United Arab Emirates |
| &nbsp;&nbsp;Dplay Entertainment Limited | &nbsp;&nbsp;Chiswick Park Building 2, 566 Chiswick High Road, London, England, W4 5YB |

---

**Schedule 2** **CORPORATE GOVERNANCE**

**PART 1**

**BOARD PROCEEDINGS AND VOTING**

**1.** **FREQUENCY, LOCATION AND CONVENING MEETINGS OF THE BOARD** 

**1.1** The Board shall hold not less than four meetings per calendar year at such intervals as may be appropriate.

**1.2** Any Investor Director, or appointee of the Major Investors or the WBD Investor to the boards of other
SPV Group Companies, shall be entitled to convene a Board or SPV Group Company Board meeting on at least 10 Business Days'
prior written notice or such shorter period (being no less than two Business Days' prior written notice) as he may reasonably determine
where urgent business has arisen. If any meeting of the Board or SPV Group Company Board has to be reconvened having been inquorate, the
directors present shall adjourn the meeting to the same place and time not less than two Business Days after the date of the first meeting
or second meeting (as the case may be).

**1.3** Notice of any Board or SPV Group Company Board meeting (which may be given by e-mail) shall be sent to
all directors, accompanied by a written agenda specifying the business of such meeting in reasonable detail along with all relevant papers.
Other than with Investor Consent and, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the
WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), Investor Direction from the WBD Investor, only
those matters included on the written agenda may be discussed at such meeting.

**1.4** The directors of the relevant SPV Group Company may either attend the meeting in person at the location
specified in the notice or by way of a telephone or video conference facility established by the relevant SPV Group Company which enables
each of the directors present to participate.

**2.** **VOTING AT BOARD MEETINGS** 

Subject to Clause 6.1 and paragraph 5 of this Part 1 of Schedule 2 (*Corporate Governance*), resolutions of the Board or of the board of any SPV Group Company shall be decided by the majority of the votes cast, and each director shall have one vote. In the case of an equality of votes, no person shall have a second or casting vote and the resolution shall not be passed.

**3.** **CONFLICTS OF INTEREST** 

**3.1** Where a director has an interest which is likely to give rise to a personal or professional conflict of
interest (the "**Conflict** "), the director shall notify the Board (or the board of the relevant SPV Group Company) and,
if so requested by the other directors on the Board (or on the board of the relevant SPV Group Company, as applicable), take such additional
steps as may be necessary or desirable for the purpose of managing such Conflict, including compliance with any procedures laid down from
time to time by the other directors on the Board (or on the board of the relevant SPV Group Company, as applicable) for the purpose of
managing conflicts of interest generally and/or any specific procedures approved by the other directors on the Board (or on relevant SPV
Group Company Board, as applicable) for the purpose of or in connection with the situation or matter in question. Such procedures may
include the conflicted director being excluded from the receipt of information, participation in discussion and/or making of decisions,
ceasing to have any entitlement to vote and/or ceasing to be required in order to constitute a quorum, in each case exclusively in respect
of the Conflict.

**3.2** For the avoidance of doubt, an Investor Director appointed by the Lead Investor shall not be deemed to
have a Conflict for the purpose of approving Additional Funding provided such Additional Funding is to be provided in accordance with
Clause 9.

**4.** **ALTERNATE DIRECTORS** 

A director may appoint another director as his replacement (an "**Alternate Director**") for any specified meetings of the board of any SPV Group Company by serving written notice of such appointment on the relevant SPV Group Company. Such replacement may exercise the votes of the director who has appointed him and such appointing director may direct his replacement on how to exercise such votes.

**5.** **WRITTEN RESOLUTIONS** 

A resolution or other consent executed or approved in writing by a majority of the directors who would have been entitled to vote thereon had the same been proposed at a meeting of the board of an SPV Group Company which such directors had attended (provided such majority of directors would have constituted a quorum for the purposes of a meeting (which would include at least one Investor Director of each Major Investor who has appointed an Investor Director and at least one Investor Director appointed by the WBD Investor for so long as it is entitled to appoint an Investor Director), of the relevant board and the directors shall have the voting rights set out in paragraph 2 of this Part 1 of Schedule 2 (*Corporate Governance*)) shall be as valid and effective for all purposes as a resolution passed at a meeting of the relevant board duly convened and held and may consist of several documents in the like form, each signed by one or more of the directors.

**PART 2**

**GENERAL MEETINGS AND VOTES OF MEMBERS**

**1.** **QUORUM FOR GENERAL MEETINGS** 

**1.1** No business shall be transacted at any meeting of the Shareholders of the Company unless a quorum of shareholders
is present at the time when the meeting proceeds to business and remains present during the transaction of business.

**1.2** Subject to paragraph 1.3, the quorum of any general meeting of the Company shall be the presence of a
representative of each Major Investor and, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long
as the WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), a representative of the WBD Investor.

**1.3** If a quorum is not constituted at any meeting of the Company within half an hour from the time appointed
for the meeting or if during the meeting a quorum ceases to be present for a period exceeding 10 minutes, the meeting shall be adjourned
for two Business Days whereupon the quorum at such adjourned meeting shall be the presence of a representative of each of the Lead Investor
and one other Major Investor. If a quorum is not constituted at such adjourned meeting within half an hour from the time appointed for
the meeting or if during such adjourned meeting a quorum ceases to be present for a period exceeding 10 minutes, the meeting shall be
adjourned for 5 Business Days whereupon if at the adjourned meeting a quorum is not present within 30 minutes from the time appointed
for the meeting the shareholder or shareholders present and entitled to vote shall form a quorum notwithstanding the absence of a representative
of any Major Investor and/or the WBD Investor.

**2.** **VOTES OF SHAREHOLDERS** 

**2.1** Subject to the Act, questions arising at any meeting of the Company shall be decided by a majority of
the votes cast, on a poll.

**2.2** All Ordinary Shares shall have the voting rights provided by the Articles.

**3.** **NO CASTING VOTE OF CHAIRMAN** 

The chairman of any meeting of the Company shall not be entitled in any circumstances to a second or casting vote in addition to any other vote he may have.

**4.** **NOTICE** 

**4.1** Subject to paragraph 4.2 of this Schedule 2 (*Corporate Governance*), a minimum of 10 Business
Days' notice of each general meeting of the Company, accompanied by a note of the venue for such meeting and an agenda (as well
as copies of any documents specified to be considered at such meeting in such agenda) of the business to be transacted shall be given
to all the Shareholders.

**4.2** The notice period referred to in paragraph 4.1 of this Schedule 2 (*Corporate Governance*) may
be shortened with Investor Consent and, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as
the WBD Investor holds 7.5% or more, directly or indirectly, of the Shares of Anghami), Investor Direction from the WBD Investor.

**5.** **PARTICIPATION** 

The representatives of each Shareholder may either attend the meeting in person at the location specified in the notice or by way of a telephone or video conference facility established by the Company which enables each of the representatives present to participate.

**Schedule 3** **CONDUCT OF BUSINESS**

**PART 1**

**1.** Make or permit any material change in the nature or scope of the Group or any Group Company's business,
including (i) the commencement of any material new business which is not ancillary to or incidental to the business of the Group,
(ii) the cessation of the whole or a substantial part of the business of the Group, or (iii) between the date of this Agreement
and the Call Option Lapse Date, the commencement of any new business by the Group in any of the territories that the Streaming Business
(as defined in the Option Agreement) operates in as at the date hereof.

**2.** Expand, develop or evolve the Group or carry on the Group's business, other than through the Company
or a wholly-owned subsidiary undertaking of the Company.

**3.** Amend any provision of the Articles, constitutional documents of any other Group Company or the Delegation
of Authority (in each case save as may be necessary to comply with Applicable Laws).

**4.** Any proposal to vary, modify, aggregate or cancel the rights attaching to any class of Shares.

**5.** Approve or make material changes to the Group's policies with respect to Compliance Measures.

**6.** Give notice of or propose any resolution to wind up any material Group Company, file or make any petition,
application or notice for the appointment or intended appointment of an administrator or liquidator or provisional liquidator, restructuring
officer, or invite any person to appoint an administrative receiver or administrator, or do anything similar or analogous to such matters
in any other jurisdiction.

**7.** Adopt the audited accounts of the Company and the audited consolidated accounts of the Group.

**8.** Change the Group's Auditors unless they shall at their own insistence resign or not seek re-appointment
(in which event no new appointment shall be made without Investor Consent and, to the extent applicable, Investor Direction from
the WBD Investor) or agree any reduction of any cap on the liability of the Auditors.

**9.** Any change in any Group Company's accounting reference date or (save as may be necessary to comply
with Applicable Law or changes in statements of standard accounting practice) materially amending its accounting policies.

**10.** Change the residence of any Group Company for tax purposes.

**11.** Acquire any business or undertaking (or a material part thereof)or sell, transfer, license or otherwise
dispose of or in any way cease to exercise control over (whether by one transaction or a series of transactions and whether at one time
or over a period of time) the whole or any substantial part of its business, undertaking or assets (including Intellectual Property Rights).

**12.** Enter into any joint venture, partnership or other arrangement (in each case which involves the formation
of a corporate entity, as opposed to being purely commercial or contractual in nature) whereby its profits may be shared or establish
or vary the terms of any profit related scheme of any kind whatsoever and the grant of any awards under any profit related schemes.

**13.** The redemption, repurchase or reorganisation of the share capital of a Group Company by way of reduction
of capital, buy-back or redemption of shares, conversion of shares from one class to another or the consolidation, subdivision or splitting
of shares or the redemption of any other securities or loan capital of a Group Company.

**14.** Enter into any transaction with any Shareholder or any of its Investor Affiliates or make any material
amendments to any agreement with any Shareholder or any of its Investor Affiliates, except to extend the term of any such existing agreement
in accordance with its terms.

**15.** Enter into any guarantee, indemnity or other agreement to secure any obligation of any third party or
any member of an Investor's Group.

**16.** Sell or otherwise dispose of any of the shares in Anghami, grant any options, warrants or other rights
to purchase or obtain (including upon conversion, exchange or exercise), or create or grant any Encumbrance over, any of the shares in
Anghami.

**17.** The creation, allotment or issuing of any new shares or other securities (including debt securities) of
a Group Company (other than the Company), or the grant of any option or right to subscribe for any shares or other securities of a Group
Company (other than the Company), to any person other than a Group Company, except where the Company participates on a pro rata basis.

**18.** Any material amendment to the Company's distribution policy or any declaration, distribution or
payment of any dividends or distributions outside of that distribution policy.

**19.** Enter into any agreement, commitment or arrangement to do any of the foregoing.

**PART 2**

**20.** Materially amend any Material Contract.

**21.** Entry into any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) contract or agreement (or series of contracts or agreements) for wholesale or business to business distribution
which gives rise to revenues for, or expenditure by or on behalf of, the Group in excess of USD 500,000 (in total); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) contract or agreement (or series of contracts or agreements) for the bundling of any Group Company's platforms
or services with one or more third parties which gives rise to revenues for, or expenditure by or on behalf of, the Group in excess of
USD 500,000 (in total).

**22.** Extend the term of any transaction with any Shareholder or any of its Investor Affiliates in accordance
with its terms.

**23.** Enter into any agreement, commitment or arrangement to do any of the foregoing.

**Schedule 4** **RIGHT OF FIRST OFFER**

**1.** **CIRCUMSTANCES IN WHICH RIGHTS OF FIRST OFFER APPLY** 

Subject to the provisions of Clauses 10.3 and 10.4, and prior to an IPO, if a Shareholder (the "**ROFO Seller**") wishes to sell any Shares (the "**ROFO Sale Shares**") to any person other than an Investor Transferee, any such sale of ROFO Sale Shares by a ROFO Seller shall be subject to the right of first offer contained in this Schedule 4 (*Right of First Offer*).

**2.** **ROFO TRANSFER NOTICE** 

**2.1** If at any time from the date immediately following the Call Option Lapse Date, a ROFO Seller wishes to
sell any of its Shares to a third party (which, for the avoidance of doubt, shall not include an Investor Transferee), the ROFO Seller
must first give written notice (a "**ROFO Transfer Notice**") to each other Shareholder (the "**ROFO Shareholders** ").
A ROFO Transfer Notice must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specify the number and class of the ROFO Sale Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) confirm each ROFO Shareholder's Pro-Rata Portion (adjusted to exclude the Pro-Rata Portion of the ROFO
Seller) of the ROFO Sale Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) state that each ROFO Shareholder shall have a period of 20 Business Days from receipt of the ROFO Transfer
Notice (the "**ROFO Offer Period**") to deliver a written notice to the ROFO Seller (the "**ROFO Offer Notice** ")
which shall specify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that the ROFO Offer Notice constitutes an irrevocable offer to purchase its Pro-Rata Portion of the ROFO
Sale Shares from the ROFO Seller on the basis that each ROFO Shareholder may elect to take up all (and not part only) of its Pro-Rata
Portion of the ROFO Sale Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the price it is offering to pay for such ROFO Sale Shares (the "**ROFO Offer Price** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any other material terms of the purchase (the "**ROFO Proposed Terms** "),

(a "**ROFO Offer**").

**2.2** Each ROFO Shareholder who makes a ROFO Offer prior to the expiration of the ROFO Offer Period shall state
either that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it irrevocably offers to purchase, for the ROFO Offer Price and on the ROFO Proposed Terms, all of the
ROFO Sale Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it does not offer to purchase more than its Pro-Rata Portion of the ROFO Sale Shares,

and if a ROFO Shareholder who makes a ROFO Offer fails to make a confirmation in the terms of paragraph 2.2(a) or 2.2.(b), it shall be deemed to have irrevocably offered to purchase its Pro-Rata Portion of the ROFO Sale Shares.

**2.3** The ROFO Seller may, at its sole discretion, reject all of the ROFO Offers or irrevocably accept one (but
not more than one) ROFO Offer by delivering a written notice to the relevant ROFO Shareholder(s) (the "**ROFO Acceptance Notice** ")
within 20 Business Days from expiry of the ROFO Offer Period (the "**ROFO Acceptance Period** "). If the ROFO Seller does
not accept any ROFO Offers within the ROFO Acceptance Period, the ROFO Seller shall be deemed to have irrevocably rejected all of the
ROFO Offers.

**3.** **THIRD PARTY SALE** 

**3.1** If the ROFO Seller has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not received one or more ROFO Offers in respect of the ROFO Sale Shares by the expiry of the ROFO Offer
Period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) rejected or is deemed to have rejected all of the ROFO Offers by the expiry of the ROFO Acceptance Period,

then the ROFO Transfer Notice shall lapse and cease to be effective and the ROFO Seller shall thereafter be entitled, at its sole discretion, either to retain all of the ROFO Sale Shares or sell all (and not only some) of the ROFO Sale Shares to any other party (a "**Third Party Sale**") without any further obligation to any ROFO Shareholders pursuant to this Schedule 4 (*Right of First Offer*) provided that the Third Party Sale shall be done in accordance with paragraph 3.2 of this Schedule 4 (*Right of First Offer*).

**3.2** If the ROFO Seller elects to proceed with a Third Party Sale:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the provisions of paragraph 5 of this Schedule 4 (*Right of First Offer*) shall apply if the ROFO
Seller is the Lead Investor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the price shall be no less than the highest ROFO Offer Price received pursuant to a ROFO Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the material terms and conditions of the Third Party Sale shall be no less favourable to the ROFO Seller
than the most favourable ROFO Proposed Terms received pursuant to a ROFO Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the ROFO Seller shall not sell any ROFO Sale Shares to a Restricted Transferee, unless each Shareholder
has given its prior written consent to the sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the third party purchaser of the ROFO Sale Shares shall execute and deliver to the Company a Deed of Adherence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the ROFO Seller and the third party purchaser must execute legally binding transaction documents in relation
to the sale of the ROFO Sale Shares (the "**ROFO Sale Documents**") by no later than nine months from the expiry of the ROFO
Acceptance Period (the date upon which the ROFO Sale Documents are executed, being the "**Third Party Signing Date** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the ROFO Seller must complete the sale of the ROFO Sale Shares to the third party purchaser by no later
than: (i) three months following the Third Party Signing Date (if no Mandatory Consents are required); or (ii) twelve months
following the Third Party Signing Date (if any Mandatory Consents are required).

**4.** **ROFO SHAREHOLDER SALE** 

**4.1** If the ROFO Seller has accepted one ROFO Offer in respect of ROFO Sale Shares by the expiry of the ROFO
Acceptance Period (and rejected one or more other ROFO Offers), then the ROFO Seller shall first give written notice (a "**ROFO Participation Notice**") to ROFO Shareholders who made a ROFO Offer which was rejected (the "**Rejected ROFO Shareholders** ")
which shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specify the name of the ROFO Shareholder from whom the ROFO Seller has accepted a ROFO Offer (the "**Accepted ROFO Shareholder** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) specify the amount and type of consideration offered by the Accepted ROFO Shareholder and any other material
terms and conditions contained in the ROFO Offer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) state that the Rejected ROFO Shareholders shall have a period of 20 Business Days from receipt of the
ROFO Participation Notice (the "**RP Offer Period**") to deliver a written notice to the ROFO Seller (the "**RP Offer Notice**") which shall specify that the RP Offer Notice constitutes an irrevocable offer by the Rejected ROFO Shareholders to purchase
all (and not part only) of its Pro-Rata Portion of the ROFO Sale Shares from the ROFO Seller for the same amount offered by the Accepted
ROFO Shareholder (the "**RP Offer Price**") and on the same material terms and conditions contained in the ROFO Offer from
the Accepted ROFO Shareholder (the "**RP Proposed Terms**") (the "**RP Offer** ").

**4.2** Each Rejected ROFO Shareholder who makes a RP Offer prior to the expiration of the RP Offer Period shall
state either that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it irrevocably offers to purchase, for the RP Offer Price and on the RP Proposed Terms, all of the ROFO
Sale Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it does not offer to purchase more than its Pro-Rata Portion of the ROFO Sale Shares,

and if a Rejected ROFO Shareholder who makes a RP Offer fails to make a confirmation in the terms of paragraph 4.2(a) or 4.2(b), it shall be deemed to have irrevocably offered to purchase its Pro-Rata Portion of the ROFO Sale Shares.

**4.3** If the ROFO Seller:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) has not received an RP Offer from any Rejected ROFO Shareholders by the expiry of the RP Offer Period;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) each Rejected ROFO Shareholder has informed the ROFO Seller that it will not deliver an RP Offer Notice
by the expiry of the RP Offer Period,

then the ROFO Participation Notice shall lapse and cease to be effective and the ROFO Seller shall thereafter be entitled, at its sole discretion, to: (i) proceed with the sale of ROFO Sale Shares to the Accepted ROFO Shareholder; or (ii) proceed with a Third Party Sale provided that the Third Party Sale shall be done in accordance with paragraphs 3.2 and 5 of this Schedule 4 (*Right of First Offer*).

**4.4** If, before expiry of the RP Offer Period, any Rejected ROFO Shareholders make an RP Offer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the ROFO Seller must accept each RP Offer which is made at the RP Offer Price and on the RP Proposed Terms;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the number of ROFO Sale Shares subject to the ROFO Offer and RP Offers exceeds the number of ROFO Sale
Shares being sold by the ROFO Seller, then the entitlements of the Accepting ROFO Shareholder and Rejected ROFO Shareholders who made
RP Offers shall be reduced *pro rata* in order to ensure the number of ROFO Sale Shares subject to the ROFO Offer and RP Offers equals
the aggregate number of ROFO Sale Shares being sold by the ROFO Seller,

and, where applicable in the remainder of this Schedule 4, ROFO Shareholder(s) from whom the ROFO Seller has accepted one or more ROFO Offers shall be construed to include Rejected ROFO Shareholders who made RP Offers.

**4.5** If the ROFO Seller has accepted one or more ROFO Offers and/or RP Offers, the parties must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) execute the ROFO Sale Documents by no later than two months from the expiry of the RP Offer Period (the
date upon which the ROFO Sale Documents are executed, being the "**ROFO Shareholder Signing Date** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the ROFO Seller must complete the sale of the ROFO Sale Shares by no later than: (i) three months
following the ROFO Shareholder Signing Date (if no Mandatory Consents are required); or (ii) twelve months following the ROFO Shareholder
Signing Date (if any Mandatory Consents are required).

**4.6** If: (i) ROFO Sale Documents have not been entered into within the applicable period specified in
paragraph 4.5(a); or (ii) the sale of the ROFO Sale Shares has not completed within the applicable period specified in paragraph
4.5(b):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the ROFO Acceptance Notice(s) and/or acceptance of one or more RP Offers shall lapse and cease to
be effective; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the ROFO Seller shall be entitled, acting in its sole discretion, to proceed with a Third Party Sale in
accordance with paragraph 3.2 and paragraph 5 of this Schedule 4 (*Right of First Offer*) provided that the provisions of paragraph
3.2(a) and paragraph 5 of this Schedule 4 (*Right of First Offer*) shall not apply if the ROFO Seller accepted a ROFO Offer
or RP Offer from the WBD Investor but the Lead Investor and the WBD Investor have been unable to enter into ROFO Sale Documents within
the applicable period specified in paragraph 4.5(a).

**4.7** On the date on which the sale of the ROFO Shares completes pursuant to the ROFO Sale Documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the ROFO Shareholder(s) from whom the ROFO Seller has accepted one or more ROFO Offers and/or RP
Offers must pay to the ROFO Seller the relevant ROFO Offer Price; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the ROFO Seller must deliver to the relevant ROFO Shareholder(s) a duly executed transfer in favour
of such ROFO Shareholder in respect of the ROFO Sale Shares being transferred and must deliver to the Company share certificates representing
all of the ROFO Sale Shares.

**4.8** If the ROFO Seller has not: (i) entered into ROFO Sale Documents within the period specified in paragraph
3.2(f) or 4.5(a) (as applicable); or (ii) completed the sale of the ROFO Sale Shares within the period specified in paragraph
3.2(g) or 4.5(b) (as applicable), the rights provided hereunder shall be deemed to be revived and the ROFO Sale Shares shall
not be offered to any person unless first re-offered to the Shareholders in accordance with this Schedule 4 (*Right of First Offer*).

**5.** **RIGHT TO MATCH** 

**5.1** If the Lead Investor is the ROFO Seller and the Lead Investor seeks to proceed with a Third Party Sale
in accordance with paragraph 3.1 of this Schedule 4 (*Right of First Offer*) then, following receipt by the Lead Investor of a non-binding
indication of interest from a third party (the "**Prospective Purchaser**") to purchase the ROFO Sale Shares which complies
with the provisions of paragraphs 3.2(b), (c) and (d) of this Schedule 4 (*Right of First Offer*) and which the Lead Investor
is considering accepting, the Lead Investor shall first give written notice to the WBD Investor (a "**Right to Match Notice** ")
which shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specify the name of the Prospective Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) specify the amount and type of consideration offered by the Prospective Purchaser and any other material
terms and conditions contained in the non-binding indication of interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) state that the WBD Investor shall have a period of 20 Business Days from receipt of the Right to Match
Notice (the "**RM Offer Period**") to deliver a written notice to the Lead Investor (the "**RM Offer Notice** ")
which shall specify that the RM Offer Notice constitutes an irrevocable offer by the WBD Investor to purchase all (but not less than all)
of the ROFO Sale Shares from the Lead Investor for the same amount offered by the Prospective Purchaser and on materially the same terms
and conditions (taken as a whole) contained in the non-binding indication of interest (the "**RM Offer** ").

**5.2** If the Lead Investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) has not received an RM Offer from the WBD Investor in respect of all of the ROFO Sale Shares by the expiry
of the RM Offer Period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the WBD Investor has informed the Lead Investor that it will not deliver an RM Offer Notice by the expiry
of the RM Offer Period,

then the Right to Match Notice shall lapse and cease to be effective and the Lead Investor shall thereafter be entitled, at its sole discretion, either to retain all of the ROFO Sale Shares or proceed with a Third Party Sale without any further obligation to the WBD Investor pursuant to paragraph 5 of this Schedule 4 (*Right of First Offer*) provided that the Third Party Sale shall be done in accordance with paragraphs 3.2(b) to (f) of this Schedule 4 (*Right of First Offer*).

**5.3** If, before expiry of the RM Offer Period, the WBD Investor makes an RM Offer, the Lead Investor may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) reject the RM Offer if, in the opinion of the Lead Investor acting reasonably, the RM Offer is not on
materially the same terms and conditions (taken as a whole) as the non-binding indication of interest; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) irrevocably accept the RM Offer,

in each case by delivering a written notice to the WBD Investor within 20 Business Days of receipt of the RM Offer Notice (the "**RM Acceptance Period**").

**5.4** If the Lead Investor does not reject or accept the RM Offer within the RM Acceptance Period, the Lead
Investor shall be deemed to have irrevocably rejected the RM Offer.

**5.5** If the Lead Investor has accepted the RM Offer in respect of all of the ROFO Sale Shares by the expiry
of the RM Acceptance Period, the Lead Investor and the WBD Investor must execute the ROFO Sale Documents by no later than 20 Business
Days from the expiry of the RM Acceptance Period.

**5.6** On the date on which the sale of the ROFO Sale Shares completes pursuant to the ROFO Sale Documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the WBD Investor must pay to the Lead Investor the purchase price for all of the ROFO Sale Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Lead Investor must deliver to the WBD Investor a duly executed transfer in favour of the WBD Investor
in relation to all of the ROFO Sale Shares and must deliver to the Company share certificates representing all of the ROFO Sale Shares.

**Schedule 5** **TAG-ALONG**

**1.** **CIRCUMSTANCES IN WHICH TAG-ALONG RIGHTS APPLY** 

**1.1** Save as otherwise agreed in writing between the Lead Investor and a Security Holder (including in such
Security Holder's Deed of Adherence) (in which case the provisions of this Schedule 5 (*Tag-Along*) may be varied or disapplied
solely with respect to such Security Holder), if the Lead Investor and/or its Investor Affiliates (together, the "**Tag Triggering Sellers**") propose to make a sale of any Ordinary Shares to any other person (the "**Tag Transferee**") at any
time from the date immediately following the Call Option Lapse Date, other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to an Investor Transferee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in connection with a Reorganisation Transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to any person where a Drag-Along Notice has been served (and has not lapsed) in accordance with the terms
of Schedule 6 (*Drag-Along*),

which would, on its completion, result in a Sale (the "**Tag-Along Sale**"), the Tag Triggering Sellers shall procure that each of the other Security Holders have the opportunity ("**Tag-Along Right**") to sell to the Tag Transferee their Pro-Rata Portion of respective Securities (the "**Tag-Along Securities**") in accordance with the following provisions of this Schedule 5 (*Tag-Along*).

**1.2** The Tag-Along Right shall not apply to any sale of Securities following or as part of an IPO which shall
be governed by the provisions of any lock-up agreement and/or orderly marketing agreement.

**2.** **TAG-ALONG MECHANISM** 

**2.1** Not less than 20 Business Days prior to the completion of any proposed Tag-Along Sale, the Tag Triggering
Sellers shall deliver to the Company and the other Security Holders a written notice (a "**Tag-Along Notice**") which notice
shall set out (to the extent not described in any accompanying documents):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the identity of the Tag Transferee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to paragraph 2.2 below, the type and amount of consideration to be paid by the Tag Transferee
for the Tag-Along Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the proposed date of the sale (if known); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all other material terms and conditions, if any, of the Tag-Along Sale.

**2.2** The Tagging Security Holders shall be entitled to sell their Pro-Rata Portion of respective Securities
to the Tag Transferee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the same time as the sale by the Tag Triggering Sellers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for the same type and amount of consideration as for the corresponding Securities being sold by the Tag
Triggering Sellers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) on the same economic terms and on substantially the same (but in no event less favourable) other terms
(including participating in any escrow arrangements on the same terms),

(subject always to the Articles) provided that the Lead Investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) may, in its absolute discretion by Investor Direction, determine that a Tagging Security Holder shall
be offered a cash alternative to any non-cash consideration being paid for the Tag Triggering Sellers' Securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) shall offer the WBD Investor a cash alternative if the Tag Transferee is a WBD Competitor.

**2.3** For the purposes of paragraph 2.2, the Ordinary Shares shall be deemed to constitute a single class of
Security.

**2.4** If a Security Holder wishes to exercise its Tag-Along Right (any such Security Holder a "**Tagging Security Holder** "), the Tagging Security Holder shall notify the Tag Triggering Sellers within 20 Business Days following
the date of the Tag-Along Notice (the "**Tag Acceptance Period**") that it wishes to exercise its Tag-Along Right (each
such notice a "**Tag Notification** "). Any Security Holder that does not notify the Tag Triggering Sellers within the Tag
Acceptance Period shall be deemed to have waived its Tag-Along Right.

**2.5** The validity of a Tag-Along Sale pursuant to the provisions of this Schedule 5 (*Tag-Along*) shall
not be affected by the Tag Transferee offering the Tagging Security Holders a cash alternative to any non-cash consideration being paid
for the Tag Triggering Sellers' Securities provided that on the date of the sale, the value of the consideration offered per Tag-Along
Security is at least equal to the value offered for the corresponding Security of the Tag Triggering Sellers.

**2.6** Following the expiry of the Tag Acceptance Period, the Tag Triggering Sellers shall deliver to each Tagging
Security Holder, not less than 20 Business Days prior to the proposed Tag-Along Sale, a definitive agreement (along with any ancillary
transfer instruments) to effect the sale of its Tag-Along Securities to the Tag Transferee.

**2.7** If the Tag Transferee has informed the Tag Triggering Sellers that it wishes to purchase a fixed percentage
of any class of Securities, and following any Tag Notification(s) this percentage is exceeded, the number of Securities being sold
by the Tag Triggering Sellers and the Tagging Security Holders shall be reduced *pro rata* in order to meet this percentage requirement.

**2.8** Each Tagging Security Holder shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not less than two Business Days prior to the anticipated date of the proposed sale, return to the Tag
Triggering Sellers the duly executed documents and, if a certificate has been issued in respect of the relevant Securities, the relevant
certificates(s) (or an indemnity in respect of any missing certificates in a form satisfactory to the Board) all of which shall be
held against payment of the aggregate consideration due to it. If a Tagging Security Holder fails to comply with this paragraph 2.8(a) in
full not less than two Business Days prior to the proposed sale, it shall be deemed to have waived its Tag-Along Right;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) give warranties to the Tag Transferee as to the title to their Tag-Along Securities and their capacity
to sell the Tag-Along Securities on the same basis as the Tag Triggering Sellers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) bear an amount of any costs of the Tag-Along Sale (to the extent such costs are not paid by a Group Company)
in the same proportions as the consideration (of whatever form) received by it bears to the aggregate consideration paid pursuant to the
Tag-Along Sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) participate in any escrow arrangements agreed between the Tag Triggering Sellers and Tag Transferee in
connection with the Tag-Along Sale on the same basis as the Tag Triggering Sellers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) procure (in as far as they are reasonably able) that any directors of Group Companies appointed by it
vote in favour of the Tag-Along Sale,

but is not obliged to give any other warranties, representations or indemnities.

**2.9** The Tag Triggering Sellers shall furnish or shall procure that the Tag Transferee furnishes such evidence
of completion of such Tag-Along Sale as may be reasonably requested by any Tagging Security Holder.

**2.10** Each Tagging Security Holder shall be entitled to receive his consideration pursuant to the Tag-Along
Sale (less its share of the costs of the Tag-Along Sale) at the same time as the Tag Triggering Sellers.

**3.** **ACCEPTANCE BY SECURITY HOLDERS** 

**3.1** If a Tagging Security Holder exercises its Tag-Along Right, then the Tag Triggering Sellers must not complete
the Tag-Along Sale unless at the same the Tag Transferee buys each of the Tagging Security Holder's Tag-Along Securities in accordance
with the terms of paragraph 2.2, whereupon the Tag-Along Sale is permitted to be made provided:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it is completed within 60 Business Days of the expiry of the Tag Acceptance Period (or, where any anti-trust,
regulatory or other third party conditions are required to be satisfied before the Tag-Along Sale can be completed, by the long-stop date
for the satisfaction of such conditions in the Tag-Along Sale documentation (as agreed between the Tag Triggering Sellers and the Tag
Transferee)); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it takes place on terms and conditions no more favourable to the Tag Triggering Sellers to those stated
on the Tag-Along Notice.

**3.2** All Security Holders agree to vote their Securities in favour of the Tag-Along Sale at any meeting of
Security Holders (or any class thereof) called to vote on or approve the Tag-Along Sale (and any ancillary or related matters) and/or
consent in writing to the Tag-Along Sale (and any ancillary or related matters).

**4.** **SUBSCRIPTION OR ACQUISITION OF SECURITIES DURING TAG-ALONG SALE PERIOD** 

Following the issue of a Tag-Along Notice, if any person is issued or otherwise acquires any new or additional Securities (a "**New Holder**"), a Tag-Along Notice shall be deemed to have been served upon such New Holder on the same terms as the previous Tag-Along Notice (provided such Tag-Along Notice has not lapsed). The New Holder shall have the opportunity to sell to the Tag Transferee its Pro-Rata Portion of respective Securities and the provisions of Schedule 5 (*Tag-Along*) shall apply to the New Holder (with necessary modification) in respect of its holding of such new Securities.

**5.** **NON-COMPLETION** 

If the Tag-Along Sale is not completed within the period set out in paragraph 3.1(a) above, the Tag Triggering Sellers shall promptly return to the Tagging Security Holder all documents (if any) previously delivered in respect of the Tag-Along Sale, and all the restrictions on Transfer contained in this Agreement with respect to Securities held or owned by the Tag Triggering Sellers and such Tagging Security Holder shall again be in effect.

**Schedule 6** **DRAG-ALONG**

**1.** **CIRCUMSTANCES IN WHICH DRAG-ALONG RIGHTS APPLY** 

If the Lead Investor or its Investor Affiliates (together, the "**Drag Triggering Sellers**") propose to make a sale of any Ordinary Shares to a third party (which shall not include an Investor Affiliate) (the "**Drag Transferee**") which would, on its completion, result in a Sale (a "**Drag-Along Sale**"), the Drag Triggering Sellers shall have the right, at any time from the date immediately following the Call Option Lapse Date, to require all other Security Holders (the "**Dragged Security Holders**") to sell to the Drag Transferee all of their respective Securities (the "**Drag-Along Securities**") in accordance with the following provisions of this Schedule 6 (*Drag-Along*).

**2.** **DRAG-ALONG MECHANISM** 

**2.1** Not less than 20 Business Days prior to the proposed completion date of such Drag-Along Sale, the
Drag Triggering Sellers may effect a Drag-Along Sale by giving written notice to the Company and the Dragged Security Holders (the "**Drag-Along Notice**") which notice shall set out (to the extent not described in any accompanying documentation):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that the Dragged Security Holders are required to sell all their Drag-Along Securities in the event of
a Drag-Along Sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the identity of the Drag Transferee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subject to paragraph 2.4 below, the type and amount of consideration to be paid by the Drag Transferee
for the Drag-Along Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the proposed date of the sale (if known); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all other material terms and conditions, if any, of the Drag-Along Sale.

**2.2** Upon receipt of the Drag-Along Notice, the Dragged Security Holders shall be required to sell their respective
Securities to the Drag Transferee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the same time as the sale by the Drag Triggering Sellers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to paragraph 2.4 below, for the same type and amount of consideration as for the corresponding
Securities being sold by the Drag Triggering Sellers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) on the same economic terms and on substantially the same (but in no event less favourable) other terms
(including participating in any escrow arrangements on the same terms) as are agreed between the Drag Triggering Sellers and the Drag
Transferee,

provided that, the Lead Investor shall offer a cash alternative to any non-cash consideration being paid for the Drag Triggering Sellers' Securities to all Dragged Security Holders.

**2.3** For the purposes of paragraph 2.2 above, the Ordinary Shares shall be deemed to constitute a single class
of Security.

**2.4** The validity of a Drag-Along Sale pursuant to the provisions of this Schedule 6 (*Drag-Along*) shall
not be affected by the Drag Transferee offering the Dragged Security Holders a cash alternative to any non-cash consideration being paid
for the Drag Triggering Sellers' Securities provided that on the date of the sale, the value of the consideration offered per Drag-Along
Security is at least equal to the value offered for the corresponding Security of the Drag Triggering Sellers.

**2.5** The Drag-Along Notice shall be accompanied by copies of all documents required to be executed by the Dragged
Security Holders to give effect to the Drag-Along Sale.

**2.6** Each Dragged Security Holder, upon receipt of the Drag-Along Notice and accompanying documents, shall
be obliged to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) sell all of their Drag-Along Securities and participate in the Drag-Along Sale (including giving warranties
to the Drag Transferee as to the title to their Drag-Along Securities and their capacity to sell the Drag-Along Securities on the same
basis as the Drag Triggering Sellers, but no other warranties, representations or indemnities) on the terms set out in the Drag-Along
Notice and supporting documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not less than two Business Days prior to the anticipated completion date of the Drag-Along Sale, return
to the Drag Triggering Sellers the duly executed documents and, if a certificate has been issued in respect of the relevant Securities,
the relevant certificates(s) (or an indemnity in respect of any missing certificates in a form satisfactory to the Board), all of
which shall be held against payment of the aggregate consideration due to it.

**2.7** Each Dragged Security Holder shall be entitled to receive his consideration pursuant to the Drag-Along
Sale at the same time as the Drag Triggering Sellers.

**3.** **SUBSCRIPTION OR ACQUISITION OF SECURITIES DURING DRAG-ALONG SALE PERIOD** 

Following the issue of a Drag-Along Notice, if any person is issued or otherwise acquires any new or additional Securities, a Drag-Along Notice shall be deemed to have been served upon such New Holder on the same terms as the previous Drag-Along Notice. The New Holder will be bound to sell all such new Securities acquired by it to the Drag Transferee or as it may direct and the provisions of this Schedule 6 (*Drag-Along*) shall apply to the New Holder (with necessary modification) in respect of its holding of such new Securities.

**4.** **NON-COMPLETION** 

**4.1** If the Drag-Along Sale has not been completed by the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the date which is 60 Business Days following the date of the Drag-Along Notice (or, where any anti-trust,
regulatory or other third party conditions are required to be satisfied before the Drag-Along Sale can be completed, by the long-stop
date for the satisfaction of such conditions in the Drag-Along Sale documentation (as agreed between the Lead Investor and the Drag Transferee));
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the date on which the Lead Investor sends a written notice to the Dragged Security Holders that the Drag-Along
Sale will not be completed,

the Drag-Along Notice shall cease to be of effect and each Dragged Security Holder shall be irrevocably released from such obligations under the Drag-Along Notice and the rights of the Lead Investor pursuant to this Schedule 6 (*Drag-Along*) shall be reinstated.

**Schedule 7** **DEED OF ADHERENCE**

**THIS DEED** is made on [●]

**BETWEEN:**

**(1)** **OSN STREAMING LIMITED** a Cayman Islands exempted company with registration number 404857, whose
registered office is at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands (the "**Company** ");
and

**(2)** [Name], of [●] (the "**Subscriber** "),

**and is supplemental** to a Shareholders' Agreement dated [●] and made between, *inter alias*, (i) the Investors; and (ii) the Company (each as defined therein) as from time to time amended, varied, novated, supplemented or adhered to (the "**Principal Agreement**").

**WHEREAS:**

[[●] (the "**Transferor[s]**") intends to transfer to the Subscriber][The Subscriber intends to subscribe and [the Company] intends to [allot and] issue to the Subscriber] the Securities set out in the Schedule (the "**Designated Securities**"), subject to the Subscriber entering into this Deed in favour of (a) the original parties to the Principal Agreement and (b) any other person or persons who after the date of the Principal Agreement (and whether or not prior to or after the date of this Deed) adheres to the Principal Agreement (the "**Continuing Parties**").

**IT IS AGREED** as follows:

**1.** Unless the context requires otherwise, words and expressions defined in the Principal Agreement shall
have the same meaning when used in this Deed.

**2.** The Subscriber hereby undertakes to the Company and the Continuing Parties to comply with the provisions
of, and to observe and perform all the obligations of [a][an][the][Lead][WBD][Investor][party] in, the Principal Agreement after the date
of this Deed and the Subscriber shall become a party to the Principal Agreement [as if he were named in the Principal Agreement [as [a][an][the][Lead][WBD][Investor][party],
holding the Designated Securities together with any additional Securities he may acquire/be issued from time to time, in addition to the
Continuing Parties. The Subscriber agrees that the provisions of this Clause shall be binding on it irrespective of whether he holds the
Designated Securities directly or via a nominee.

**3.** This Deed is made for the benefit of the Continuing Parties.

**4.** It is agreed that, save as hereby provided, all the provisions of the Principal Agreement shall remain
in full force and effect.

**5.** For the purposes of Clause 30 (*Notices*) of the Principal Agreement the address and email address
of the Subscriber is as set out in the Schedule.

**6.** The Subscriber warrants to each of the Continuing Parties that it has full power and authority and has
obtained all necessary consents to enter into and perform the obligations expressed to be assumed by it under the Principal Agreement
and this Deed, that the obligations expressed to be assumed by it under the Principal Agreement and this Deed are legal, valid and binding
and enforceable against it in accordance with their terms and that the execution, delivery and performance by it of this Deed will not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) result in a breach of, or constitute a default under, any agreement or arrangement to which it is a party
or by which it is bound or under its constitutional documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) result in a breach of any law or order, judgment or decree of any court, governmental agency or regulatory
body to which it is a party or by which it is bound.

**7.** The provisions of Clause 32 (*Governing Law and Jurisdiction*) of the Principal Agreement shall
apply to this Deed, the necessary changes being made.

**THIS DEED** has been duly executed and delivered as a deed on the date first stated above.

---

| |
|:---|
| **EXECUTED and** |
| **DELIVERED as a DEED by** |
| [●] in the presence of : |
| **Signature of Witness** |

---

**Name, address and occupation of witness**

**SCHEDULE TO DEED OF ADHERENCE<br> SUBSCRIBER DETAILS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Subscriber** | &nbsp;&nbsp; [*full legal name*]<br>|
| &nbsp;&nbsp;**Postal Address** | &nbsp;&nbsp; [*postal address*]<br>|
| &nbsp;&nbsp;**E-mail Address** | &nbsp;&nbsp; [*e-mail address*]<br>|
| &nbsp;&nbsp;**Designated Securities** | &nbsp;&nbsp; [*number*] Ordinary Shares<br>|

---

## Exhibit 99.14

**Exhibit 14**

***Privileged and Confidential***

***Execution***

**23 July 2025**

**OSN STREAMING HOLDING LIMITED**

**and**

**DPLAY ENTERTAINMENT LIMITED**

**and**

**DISCOVERY COMMUNICATIONS, LLC**

------

**OPTION AGREEMENT<br> FOR THE SALE AND PURCHASE OF SHARES IN**

**OSN STREAMING LIMITED**

**Contents**

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| **Clause** | **Page** |

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1. Interpretation 1

2. Grant of the Options 6

3. The Call Option Price 6

4. Exercise of the Call Option 8

5. Exercise of the CM Put Option 8

6. Exercise of the CF Put Option 9

7. Put Option exercise 9

8. Conditions Precedent to Call Option Completion 9

9. Completion 11

10. Music Business Carve-out 12

11. Warranties 14

12. Grantee's Guarantor Payment Guarantee 15

13. Costs and Expenses 15

14. Assignment 16

15. Incorporation By Reference 16

**Schedule**

1. Form of Call Option Price Notice 17

2. Form of Call Exercise Notice 18

3. Form of Put Exercise Notice 19

4. Grantee's Warranties 20

5. Grantee Guarantor's Warranties 21

6. Grantor's Warranties 22

7. Independent Expert Determination 37

**THIS AGREEMENT** (this "**Agreement**") is made on 23 July 2025

**BETWEEN**:

(1) **OSN STREAMING HOLDING LIMITED**, a company limited
by shares incorporated under the laws of the Dubai International Financial Centre (the "**Grantor**") (registered number:
7996) with its registered address at Unit IH-00-01-01-OF-01, Level 1, Innovation Hub, Dubai International Financial Centre, Dubai,
United Arab Emirates;

(2) **DPLAY ENTERTAINMENT LIMITED**, a company incorporated
and existing under the laws of England & Wales (registered number: 09615785) with its registered address at Chiswick Park Building
2, 566 Chiswick High Road, London, England, W4 5YB (the "**Grantee** ", which expression shall include any successor whether
through merger, reconstruction or otherwise); and

(3) **DISCOVERY COMMUNICATIONS, LLC**, a company incorporated and existing under the laws of Delaware with
is registered address at 230 Park Avenue South, New York NY 10003 (the "**Grantee's Guarantor** ").

**WHEREAS**:

(A) On 23 March 2025, the Grantor and the Grantee entered into that certain Agreement for the Sale and
Purchase of Shares in OSN Streaming Limited (the "**SPA**") pursuant to which, among other things, (i) on the date
hereof, the Grantor sold to the Grantee and the Grantee purchased from the Grantor 1,900,118 Ordinary Shares, and (ii) the Parties
are entering into this Agreement.

(B) The Grantor is, at the date of this Agreement, the beneficial and legal owner of 14,949,882 Ordinary Shares.

(C) The Grantee is, at the date of this Agreement, the beneficial and legal owner of 1,900,118 Ordinary Shares.

(D) The Parties wish to grant certain options in respect of Shares on the terms and subject to the conditions
of this Agreement.

(E) The Grantee's Guarantor has agreed to guarantee the payment obligations of the Grantee under this
Agreement.

**IT IS AGREED** as follows:

**1.** **Interpretation** 

1.1 Capitalised terms used but not defined herein shall have the meanings given to such terms in the SPA,
unless otherwise specified herein. In this Agreement:

"**Additional Investment**" means the Second Completion Consideration, the Third Completion Consideration, and any other amount paid after the date of the SPA by (or on behalf) of the Grantee in respect of Shares which are not First Tranche Sale Shares, Second Tranche Sale Shares or Third Tranche Sale Shares;

"**Aggregate Claim Amount**" means the aggregate amount (if any) paid by the Grantor to the Grantee pursuant to a Claim;

"**Agreed Anghami Fair Market Value**" has the meaning given to it in subclause 3.3;

"**Agreed Net Debt Amount**" has the meaning given to it in subclause 3.3;

"**Agreed Price Determination Period**" has the meaning given to it in subclause 3.3;

"**Anghami Fair Market Value**" means either: (x) the Agreed Anghami Fair Market Value; or (y) the Determined Anghami Fair Market Value (as applicable);

"**Bring-down Disclosure Letter**" means the bring-down disclosure letter from the Grantor to the Grantee disclosing certain matters relating to certain of the Grantor Business Warranties and the Grantor Tax Warranties dated on the W&D Bring-down Date, including the contents of the schedules thereto, disclosing matters that are exceptions to the Grantor Business Warranties and the Grantor Tax Warranties;

"**Call Exercise Notice**" means a notice given in accordance with subclause 4.1 and substantially in the form of Schedule 2;

"**Call Option**" has the meaning given to it in subclause 2.1;

"**Call Option Completion**" means completion of the Call Option in accordance with this Agreement;

"**Call Option Completion Date**" has the meaning given to it in subclause 9.1;

"**Call Option Conditions**" has the meaning given to it in subclause 8.1;

"**Call Option Floor**" means, where an Exclusion Election has been made in accordance with subclause 3.2, USD 225 million, and where no Exclusion Election has been made in accordance with subclause 3.2, USD 302 million, or in each case, such lower number as agreed by the Grantor pursuant to subclause 3.6;

"**Call Option Longstop Date**" means the date falling 12 months from the date of the Call Exercise Notice (as may be extended in accordance with Clause 8);

"**Call Option Period**" has the meaning given to it in subclause 3.1;

"**Call Option Price**" means the price for the Grantor Shares determined in accordance with subclause 3.7(a) or subclause 3.8(a) (as applicable);

"**Call Option Price Notice**" means a notice given in accordance with subclause 3.1 and substantially in the form of Schedule 1;

"**Call Option Price Notice Date**" means the date on which a Call Option Price Notice is served by the Grantee on the Grantor;

"**Cash**" means the aggregate amount of cash and cash equivalents of the Company, in each case whether in hand or credited to an account of the Company with any financial institution;

"**CF Put Exercise Notice**" has the meaning given to it in subclause 6.1 and substantially in the form of Schedule 3;

"**CF Put Option**" has the meaning given to it in subclause 2.2(b);

"**CF Put Option Period**" has the meaning given to it in subclause 6.1;

"**CF Put Option Price**" means the price for the Grantee Shares determined in accordance with subclause 3.7(c) or subclause 3.8(c) (as applicable);

"**CM Put Exercise Notice**" has the meaning given to it in subclause 5.2 and substantially in the form of Schedule 3;

"**CM Put Option**" has the meaning given to it in subclause 2.2(a);

"**CM Put Option Period**" has the meaning given to it in subclause 5.2;

"**CM Put Option Price**" means the price for Grantee Shares determined in accordance with subclause 3.7(b) or subclause 3.8(b) (as applicable);

"**Competition Authority**" means any Governmental Authority or other competition or antitrust body or other authority, in any jurisdiction, which is responsible for applying merger control or other competition or antitrust legislation in such jurisdiction;

"**Completion**" means either the Call Option Completion or the Put Option Completion (as the context may require);

"**Completion Date**" means the date on which Completion occurs;

"**Determined Anghami Fair Market Value**" has the meaning given to it in subclause 3.5;

"**Determined Net Debt Amount**" has the meaning given to it in subclause 3.5;

"**Exclusion Election**" has the meaning given to it in Clause 3.2;

"**Financial Indebtedness**" means all amounts due and payable but unpaid under any interest and non-interest bearing loan (including any loan facility) agreements, overdrafts, bonds, notes, credit card facilities, letters of credit, factoring arrangements, other debt securities and similar instruments;

"**Floor Renegotiation Period**" has the meaning given to it in subclause 3.6;

"**Governmental Authority**" means any supranational, national, state, municipal or local government (including any subdivision, court, administrative agency or commission, stock or securities exchange, self-regulatory organisation, Tax or other fiscal or revenue authority, official or body or other governmental or regulatory body) or any other supranational, intergovernmental, quasi-governmental authority, body, department or organisation, including the European Union, or any regulatory body appointed by any of the foregoing in each case, in any jurisdiction;

"**Grantee**" has the meaning given to it in the preamble;

"**Grantee Shares**" means all of the Shares owned by the Grantee and any of its Investor Transferees (as defined in the Shareholders' Agreement);

"**Grantee Warranties**" means the warranties set out in Schedule 4 (*Grantee Warranties*);

"**Grantee's Guarantor Warranties**" means the warranties set out in Schedule 5 (*Grantee's Guarantor Warranties*);

"**Grantor**" has the meaning given to it in the preamble;

"**Grantor Business Warranties**" means the warranties set out in Part 2 of Schedule 6 (*Grantor's Warranties*) (other than the Grantor Tax Warranties);

"**Grantor Fundamental Warranties**" means the warranties set out in Part 1 of Schedule 6 (*Grantor's Warranties*);

"**Grantor Shares**" means all of the Shares owned by the Grantor and any of its Investor Transferees (as defined in the Shareholders' Agreement);

"**Grantor Tax Warranties**" means the warranties set out in paragraph 19 of Schedule 6 (*Grantor's Warranties*);

"**Grantor Warranties**" means, collectively, the Grantor Fundamental Warranties, the Grantor Business Warranties and the Grantor Tax Warranties;

"**Independent Expert**" has the meaning given to it in subclause 3.4;

"**Investment**" means the sum of the Original Investment and any Additional Investment;

"**IRR**" means the rate of return to the Grantee expressed as an annualised rate and calculated on an annual compounding basis from the date of this Agreement (for the Original Investment) or from the date of the Additional Investment (for any such Additional Investment), as applicable, to the date of the CM Put Exercise Notice, which, when applied to such Investment and any payment made to the Grantee in respect of the Investment from time to time other than the Aggregate Claim Amount, would give a net present value of zero;

"**Minority Buyout Condition**" has the meaning given to it in subclause 8.1(a);

"**Music Business Carve-out Completion**" has the meaning given to it in subclause 10.2(a);

"**Music Business Carve-out Notice**" has the meaning given to it in subclause 10.1;

"**Net Debt**" means: (i) the amount of Financial Indebtedness of the Company; *plus* (ii) the amount of any undischarged liabilities of the Company for Tax whenever arising (other than value added, payroll, property occupation, or any similar Tax which in each case arises in the ordinary course of business of the Company in the accounting period current when Net Debt is to be agreed or determined); *less* (iii) the amount of Cash;

"**Net Debt Amount**" means either: (x) the Agreed Net Debt Amount; or (y) the Determined Net Debt Amount (as applicable);

"**Original Investment**" means US$19,000,000;

"**Parties**" means the parties to this Agreement and "**Party**" means either of them;

"**Pro Rata Portion**" means a proportion calculated by dividing (x) the number of Grantor Shares or Grantee Shares (in each case, to which the calculation relates) by (y) the number of Shares then in issue (other than those held in treasury);

"**Put Options**" has the meaning given to it in subclause 2.2;

"**Put Option Completion**" means completion of a Put Option in accordance with this Agreement;

"**Put Option Completion Date**" has the meaning given to it in subclause 9.2;

"**Put Option Floor**" means an amount sufficient to generate an IRR of 15 per cent., *less* the Aggregate Claim Amount, as of the anticipated Put Option Completion Date;

"**Put Option Period**" means the CM Put Option Period or CF Put Option Period (as applicable);

"**Put Option Price**" means the CF Put Option Price or CM Put Option Price (as applicable);

"**Relevant Proportion**" means a proportion calculated by multiplying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Pro Rata Portion of the Grantor or the Grantee (as applicable); by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the proportion of the fully diluted share capital of Anghami held by the Company;

"**SPA**" has the meaning given to it in the recitals; and

"**W&D Bring-down Date**" means the date falling twenty (20) Business Days following delivery of the Call Option Price Notice.

1.2 In this Agreement, unless the context otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the expression "**in the agreed form**" means in the form agreed between the Grantee and
the Grantor and exchanged by email and confirmed as agreed for these purposes, on or before the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any reference to "**writing**" or "**written**" means any method of reproducing
words in a legible and non-transitory form (including email unless expressly excluded);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) references to "**include**" or "**including**" are to be construed without
limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) references to a "**company** ", "**holding company** ", "**subsidiary** ",
" **parent undertaking**" and "**subsidiary undertaking**" shall have the same meaning in this Agreement
as their respective definitions in the Companies Act 2006 (provided that where a holding company creates security over the shares of a
subsidiary, that subsidiary shall be deemed not to cease being a subsidiary of the holding company solely as a result of the creation
of that security);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) references to a "**person**" include any individual, company, partnership, joint venture,
firm, association, trust, governmental or regulatory authority or other body or entity (whether or not having separate legal personality);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) references to "**costs**" and "**expenses**" shall, unless otherwise expressly
provided, exclude any part thereof that comprises VAT which a person (or a member of that person's group for VAT purposes) is entitled
to recover (whether by credit, repayment or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) references to recitals, Clauses, subclauses, paragraphs and Schedules are (unless the context otherwise
requires) to recitals, clauses, subclauses and paragraphs of and schedules to, this Agreement. The Schedules form part of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) references to any document are to it as amended or restated from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) references to any statute or statutory provision include a reference to that statute or statutory provision
as amended, consolidated or replaced from time to time (whether before or after the date of this Agreement) and include any subordinate
legislation made under the relevant statute or statutory provision, except to the extent that any amendment, consolidation or replacement
would increase or extend the liability of any Party under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) references to any English legal term for any action, remedy, method of financial proceedings, legal document,
legal status, court, official or any legal concept or thing shall, in respect of any jurisdiction other than England, be deemed to include
what most nearly approximates in that jurisdiction to the English legal term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) references to times of day are to Dubai time unless otherwise stated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) a reference to "$", "US$", "USD" or "dollars" shall be
construed as a reference to the lawful currency for the time being of the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) words in the singular include the plural and vice versa and a reference to any gender includes all other
genders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the expression "procure", where used in the context of a Party, means that the relevant Party
undertakes to exercise all powers, rights and resources available to it, whether as a shareholder or as a director (subject to any applicable
fiduciary duties), so as to procure, so far as it is lawfully able, compliance with that obligation.

**2.** **Grant of the Options** 

2.1 The Grantor hereby grants to the Grantee an option to purchase the Grantor Shares at the Call Option Price
in accordance with Clause 4 (the "**Call Option** ").

2.2 The Grantor hereby grants to the Grantee two options to require the Grantor to purchase the Grantee Shares
at:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the CM Put Option Price in accordance with Clauses 5 and 7 (the "**CM Put Option** "); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the CF Put Option Price in accordance with Clauses 6 and 7 (the "**CF Put Option** ", and
together with the CM Put Option, the "**Put Options**" and each a "**Put Option** ").

**3.** **The Call Option Price** 

3.1 The Grantee may serve a Call Option Price Notice on the Grantor during the period beginning on 1 July 2027
and ending on 30 June 2028 (both dates inclusive) (the "**Call Option Period**") notifying the Grantor of its intention
to deliver a Call Exercise Notice and, if it does so, the Grantor shall deliver to the Grantee the Bring-down Disclosure Letter on the
W&D Bring-down Date duly executed by the Grantor.

3.2 The Grantee may specify in the Call Option Price Notice that no value is to be ascribed to the Music Business
in the exercise of the Call Option (being an "**Exclusion Election** ").

3.3 Promptly, and in any event within five (5) Business Days following the Call Option Price Notice Date,
the Parties shall engage in good faith discussions for a period of twenty (20) Business Days following the date upon which such discussions
commenced, which such twenty (20) Business Day period may be extended by written agreement of the Parties (such period, as it may be extended,
the "**Agreed Price Determination Period**") to determine (a) the value of the Anghami Group either (x) including
the Music Business (if no Exclusion Election has been made by the Grantee in accordance with subclause 3.2) or (y) excluding the
Music Business (if an Exclusion Election has been made by the Grantee in accordance with subclause 3.2), in each case taking into account
for the avoidance of doubt any undischarged liabilities for Tax of each Anghami Group Company (as applicable, the "**Agreed Anghami Fair Market Value** "), and (b) the amount of Net Debt (the "**Agreed Net Debt Amount** ").

3.4 If the Parties are unable to agree on the Agreed Anghami Fair Market Value and the Agreed Net Debt Amount
within the Agreed Price Determination Period, the Parties shall, within ten (10) Business Days following conclusion of the Agreed
Price Determination Period, appoint a mutually agreeable independent and reputable firm of international standing selected amongst one
of the largest 4 (four) internationally recognised audit firms, or one of the top ten (10) valuation or investment banking firms
advising internationally on media deals during the calendar year ending prior the date of the Call Option Price Notice, in each case that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) has had no material business relationship (whether directly or through any of its Affiliates) with either
Party or their respective Affiliates in the twenty-four (24) months prior to its selection;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is not, directly or through any of its Affiliates, in then-current discussions with either Party or any
of their respective Affiliates regarding a proposed future engagement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) has no other conflict of interest or financial interest in the proposed transaction (other than receipt
of its fee as discussed below) (the "**Independent Expert** "),

and, failing mutual agreement between the Parties within the period referenced above, the Independent Expert shall be appointed by the ICC in accordance with the ICC Expert Rules.

3.5 The Parties shall direct the Independent Expert to, as promptly as practicable, but in any event within
twenty (20) Business Days following its appointment, determine (a) the value of the Anghami Group either (x) including the Music
Business (if no Exclusion Election has been made by the Grantee in accordance with subclause 3.2) or (y) excluding the Music Business
(if an Exclusion Election has been made by the Grantee in accordance with subclause 3.2), in each case taking into account for the avoidance
of doubt any undischarged liabilities for Tax of each Anghami Group Company (as applicable, the "**Determined Anghami Fair Market Value** "), and (b) the amount of Net Debt (the "**Determined Net Debt Amount** "), in each case in accordance
with Schedule 7 (*Independent Expert Determination*). The Parties shall, and shall cause Anghami to, provide all information reasonably
requested by the Independent Expert in connection with its determination of the Determined Anghami Fair Market Value and the Determined
Net Debt Amount and make its personnel with knowledge of the subject matter reasonably available to the Independent Expert.

3.6 Where the Determined Anghami Fair Market Value is below the Call Option Floor, the Parties shall discuss
in good faith for a period of ten (10) Business Days (the "**Floor Renegotiation Period**") to seek a reduction in
the Call Option Floor, and such lower Call Option Floor if so agreed by the Grantor shall be the Call Option Floor for the purpose of
this Agreement.

3.7 Where the Parties agree on the Agreed Anghami Fair Market Value and the Agreed Net Debt Amount within
the Agreed Price Determination Period, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Call Option Price shall be (x) the higher of (i) the Call Option Floor and (ii) the
Agreed Anghami Fair Market Value, multiplied by (y) the Grantor's Relevant Proportion, provided that where (x)(ii) applies
the product of (x) and (y) shall be adjusted dollar-for-dollar by the Grantor's Pro Rata Portion of the Agreed Net Debt
Amount (whether positive or negative);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the CM Put Option Price shall be the higher of (i) the Put Option Floor, and (ii)(x) the Agreed
Anghami Fair Market Value multiplied by (y) the Grantee's Relevant Proportion, the product of (ii)(x) and (y) to
be adjusted dollar-for-dollar by the Grantee's Pro Rata Portion of the Agreed Net Debt Amount (whether positive or negative); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the CF Put Option Price shall be (x) the Agreed Anghami Fair Market Value multiplied by (y) the
Grantee's Relevant Proportion, the product of (x) and (y) to be adjusted dollar-for-dollar by the Grantee's Pro
Rata Portion of the Agreed Net Debt Amount (whether positive or negative).

3.8 Where the Parties are unable to agree on the Agreed Anghami Fair Market Value and the Agreed Net Debt
Amount within the Agreed Price Determination Period, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Call Option Price shall be (x) the higher of (i) the Call Option Floor and (ii) the
Determined Anghami Fair Market Value, multiplied by (y) the Grantor's Relevant Proportion, provided that where (x)(ii) applies
the product of (x) and (y) shall be adjusted dollar-for-dollar by the Grantor's Pro Rata Portion of the Determined Net
Debt Amount (whether positive or negative);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the CM Put Option Price shall be the higher of (i) the Put Option Floor, and (ii)(x) the Determined
Anghami Fair Market Value multiplied by (y) the Grantee's Relevant Proportion, the product of (ii)(x) and (y) to
be adjusted dollar-for-dollar by the Grantee's Pro Rata Portion of the Determined Net Debt Amount (whether positive or negative);
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the CF Put Option Price shall be (x) the Determined Anghami Fair Market Value multiplied by (y) the
Grantee's Relevant Proportion, the product of (x) and (y) to be adjusted dollar-for-dollar by the Grantee's Pro
Rata Portion of the Determined Net Debt Amount (whether positive or negative).

3.9 Where the Call Option Price is expressed to be the higher of two numbers in subclause 3.8(a) and
such numbers are equal to one another, the Call Option Price shall be an amount equal to the Call Option Floor. Where the CM Put Option
Price is expressed to be the higher of two numbers in subclauses 3.7(b) or 3.8(b) and such numbers are equal to one another,
the CM Put Option Price shall be an amount equal to the Put Option Floor.

**4.** **Exercise of the Call Option** 

4.1 The Grantee may only exercise the Call Option by serving a Call Exercise Notice on the Grantor following
determination of the Anghami Fair Market Value and Net Debt Amount in accordance with Clause 3 until the date that is ninety (90) days
following such determination; provided that the Grantee shall not be entitled to exercise the Call Option if any of Second Completion
or Third Completion has not occurred by the later of the applicable Scheduled Completion Date, Postponed Completion Date and Further Postponed
Completion Date, in each case as a result of a breach by the Grantee of its obligations under the SPA (unless such breach is in response
to a breach by the Grantor).

4.2 The Call Option shall be irrevocable and may only be exercised once in respect of all (and not some only)
of the Grantor Shares.

4.3 Exercise of the Call Option shall oblige the Grantor to sell and the Grantee to purchase the Grantor Shares,
subject to the terms and conditions set forth in this Agreement.

4.4 Subject to the satisfaction or waiver (where permissible under Applicable Law) of all of the Call Option
Conditions, the Grantor shall sell and the Grantee shall purchase the Grantor Shares.

4.5 The Grantor Shares shall be sold with full title guarantee, free from all Encumbrances and together with
all rights attaching to them as at the Call Option Price Notice Date.

4.6 If the Call Option is not duly exercised within the relevant period specified in subclause 4.1 it shall
cease to be exercisable and shall lapse.

**5.** **Exercise of the CM Put Option** 

5.1 If the Minority Buyout Condition has not been satisfied or waived by the Call Option Longstop Date, the
Parties shall discuss in good faith for a period of ten (10) Business Days whether there should be a reduction to the Call Option
Price, and such lower Call Option Price if so agreed by the Parties shall be the Call Option Price for the purpose of this Agreement.

5.2 If the Parties fail to agree a lower Call Option Price within the period specified in subclause 5.1, the
Grantee may serve written notice on the Grantor during the period beginning on the day immediately following the Call Option Longstop
Date and ending on the date that is sixty (60) days following the Call Option Longstop Date (the "**CM Put Option Period** ")
notifying the Grantor of the exercise of the CM Put Option (the "**CM Put Exercise Notice** ").

5.3 The Grantee may only exercise the CM Put Option by serving a CM Put Exercise Notice on the Grantor during
the CM Put Option Period.

**6.** **Exercise of the CF Put Option** 

6.1 If the Determined Anghami Fair Market Value is below the Call Option Floor and the Grantor does not agree
to lower the Call Option Floor pursuant to subclause 3.6, the Grantee may serve written notice on the Grantor during the period beginning
on the day immediately following the end of the Floor Renegotiation Period and ending on the date that is sixty (60) days following end
of the Floor Renegotiation Period (both dates inclusive) (the "**CF Put Option Period**") notifying the Grantor of the
exercise of the CF Put Option (the "**CF Put Exercise Notice** ").

6.2 The Grantee may only exercise the CF Put Option by serving a CF Put Exercise Notice on the Grantor during
the CF Put Option Period.

**7.** **Put Option exercise** 

7.1 A Put Option shall be irrevocable and may only be exercised once in respect of all (and not some only)
of the Grantee Shares.

7.2 Exercise of a Put Option shall oblige the Grantee to sell and the Grantor to purchase the Grantee Shares,
subject to the terms and conditions set forth in this Agreement.

7.3 The Grantee Shares shall be sold free from all Encumbrances and together with all rights attaching to
them as at the date of exercise of the relevant Put Option.

7.4 If a Put Option is not duly exercised within the applicable Put Option Period it shall cease to be exercisable
and shall lapse.

**8.** **Conditions Precedent to Call Option Completion** 

8.1 Following exercise of the Call Option in accordance with subclause 4.1, the Call Option Completion shall
be conditional on each of the following occurring on or before the Call Option Longstop Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company owning 100 per cent. of the issued ordinary shares of Anghami, together with all rights to
subscribe for, or to convert securities into, ordinary shares of Anghami (the "**Minority Buyout Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in so far as the Call Option Completion requires to be notified to any Competition Authority or any other
Governmental Authority such that, without such filing, submission or notification, the Call Option Completion would be unlawful or otherwise
prohibited or restricted under the Applicable Laws of that jurisdiction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all consents and approvals of any such Competition Authority or any other Governmental Authority having
been obtained either unconditionally or, on terms satisfactory to the Purchaser, acting reasonably and in good faith and having regard
to its obligation under subclause 8.4; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all applicable mandatory waiting periods in connection with any such filings, submissions or notifications
having expired or been terminated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no order or judgment (whether temporary, preliminary or permanent) of any Governmental Authority having
been issued or made prior to the Call Option Completion which has the effect of making unlawful or otherwise prohibiting or restricting
the transfer of the Grantor Shares to the Grantee,

(collectively, the "**Call Option Conditions**").

8.2 The Call Option Condition(s) set forth in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subclause 8.1(a) may only be waived by the Grantee (acting in its sole discretion); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subclauses 8.1(b) and 8.1(c) may only be waived (if permissible) by agreement in writing between
the Grantor and the Grantee, and only by both of them, and

any waiver of any Condition shall not affect either Party's right to compensation for liabilities incurred as a result of the other Party's failure to comply with such Condition.

8.3 If any Party becomes aware of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) satisfaction of a Condition; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fact, matter or circumstance that is reasonably likely to lead to a Condition being unsatisfied or
incapable of waiver,

that Party will promptly notify the other Party thereof.

8.4 The Grantee undertakes to the Grantor to use all its commercially reasonable endeavours to ensure that
the Call Option Conditions set forth in subclauses 8.1(b) and 8.1(c) are fulfilled as soon as possible after the exercise of
the Call Option and, in any event, prior to the Call Option Longstop Date.

8.5 In relation to the Call Option Conditions set forth in subclause 8.1(b), the Grantee shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject to Applicable Law, be primarily responsible for preparing any filings, submissions or notifications
required to be made to satisfy or fulfil the Call Option Conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) submit all appropriate filings, submissions or notifications, in consultation with the Grantor, to the
relevant Competition Authority as soon as reasonably practicable after the date of exercise of the Call Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) provide all information which is requested or required by any such Competition Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) regularly review with the Grantor the progress of any filings, submissions or notifications (including,
where relevant, seeking to identify appropriate undertakings, commitments, remedies or similar measures to address any concerns identified
by any Competition Authority); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) keep the Grantor reasonably informed in respect of the same, including by providing the Grantor (or advisers
nominated by the Grantor) with draft copies of all material submissions and material communications intended to be sent to a Competition
Authority and allowing the Grantor a reasonable opportunity to provide comments on such submissions and communications before they are
submitted or sent, and providing the Grantor (or such nominated advisers) with copies of all such submissions, written responses and communications
in the form submitted, sent or received (save that business secrets and other confidential material may be redacted), in each case where
practicable.

8.6 The Grantor shall promptly provide the Grantee and any relevant Competition Authority with any information
and supporting documentation that is reasonably required for the purpose of making any filings, submissions and notifications (including
for the purposes of responding to requests for further information).

8.7 If a request or communication is received by the Grantor from a Competition Authority in relation to the
Conditions, the Grantor shall promptly notify the Grantee (or advisers nominated by the Grantee), allow a reasonable opportunity for the
Grantee to provide comments on any substantive submissions to be made to the Competition Authority in the context of such an approach
before they are submitted or sent, and provide the Grantee (or such nominated advisers) with copies of all such substantive submissions,
written responses and communications in the form submitted, sent or received (save that business secrets and other confidential material
may be redacted).

8.8 Subject to subclause 8.10, if one or more of the Call Option Conditions remains unsatisfied ten (10) Business
Days prior to the Call Option Longstop Date, and has not been waived (if permissible) on or before such time in accordance with this Agreement,
the Parties shall, in good faith, engage in discussions to agree on an extension to the Call Option Longstop Date.

8.9 If the Parties, pursuant to subclause 8.7:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) agree to extend the Call Option Longstop Date, the Call Option Longstop Date shall be extended by ten
(10) Business Days (or such other period as agreed between the Parties) and references in this Agreement to the Call Option Longstop
Date shall be read as the Call Option Longstop Date as extended; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) fail to agree an extension of the Call Option Longstop Date by 6.00pm on the Call Option Longstop Date,
the provisions of subclause 8.11 shall apply.

8.10 If one or more of the Call Option Conditions becomes impossible to satisfy before the Call Option Longstop
Date and has not been waived (if permissible) within five (5) Business Days of such Call Option Condition becoming impossible to
satisfy, the provisions of subclause 8.11 shall apply.

8.11 This subclause 8.11 shall apply only in the circumstances referred to in subclause 8.9(b) and subclause
8.10. Where this subclause 8.11 applies, this Agreement shall terminate and immediately cease to have effect, other than Clause 14 (*Assignment*)
and Clause 15 (*Incorporation by Reference*) which, together with any accrued rights or liabilities of a Party in respect of damages
for non-performance of any obligation under this Agreement falling due for performance prior to termination, shall survive such termination.

**9.** **Completion** 

9.1 Subject to satisfaction or waiver of the Call Option Conditions, the following actions shall take place
on the later of (i) the date that is sixty (60) days after the date of the Call Exercise Notice, and (ii) the date that is ten
(10) Business Days after the Call Option Conditions have been satisfied or waived (or such other date as the Parties may agree):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Grantee shall pay to the Grantor an amount in cash in immediately available funds equal to the Call
Option Price and the Grantor shall receive such amount to the bank account of the Grantor designated in writing (such bank account to
be designated by the Grantor to the Grantee not later than five (5) Business Days prior to the anticipated Call Option Completion
Date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Grantor shall deliver to the Grantee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a duly executed share transfer form in respect of the Grantor Shares, together with any share certificates
relating to the Grantor Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) written resolutions of the directors of the Company or minutes of a meeting of the board of directors
of the Company approving the transfer of the Grantor Shares and authorising the Company's registered office to update the Company's
register of members to reflect the transfer of the Grantor Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Grantor shall ensure that, to the extent not already assigned in accordance with the assignment agreement
between Gulf DTH FZ-LLC and Anghami FZ LLC dated 1 April 2024, Gulf DTH FZ-LLC, OSN IP Holding and any of its or their Affiliates
(as applicable) shall grant an exclusive, worldwide, perpetual, irrevocable, sublicensable and transferable license to the Anghami Group
to use such Intellectual Property Rights (including the OSN+ logos) as are required by the Anghami Group to carry on its business as such
business has been carried on during the twelve (12) months immediately preceding the Call Option Completion Date, in a form reasonably
acceptable to the Grantee,

and the Call Option Completion shall be deemed to have occurred when the action in subclause 9.1(a) above has occurred (such date, the "**Call Option Completion Date**").

9.2 The following actions shall take place on the date that is ten (10) Business Days after exercise
of a Put Option (or such other date as the Parties may agree):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Grantor shall pay to the Grantee an amount in cash in immediately available funds equal to the applicable
Put Option Price and the Grantee shall receive such amount to the bank account of the Grantee designated in writing (such bank account
to be designated by the Grantee to the Grantor not later than five (5) Business Days prior to the anticipated Put Option Completion
Date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Grantee shall deliver to the Grantor a duly executed share transfer form in respect of the Grantee
Shares, together with any share certificates relating to the Grantee Shares,

and the Put Option Completion shall be deemed to have occurred when the action in subclause 9.2(a) above has occurred (such date, the "**Put Option Completion Date**").

9.3 If either the Grantor or the Grantee is in breach of their respective obligations under subclauses 9.1
or 9.2 (as applicable), clause 6.4 of the SPA shall apply *mutatis mutandis* to this Agreement, with references to "First Completion",
"Second Completion" or "Third Completion" being deemed as references to the Call Option Completion or the Put
Option Completion (as applicable) (provided that the Grantee may, acting in its sole discretion, elect to waive the Grantor's obligations
under subclause 9.1(c) and proceed to Call Option Completion on the Scheduled Completion Date, Postponed Completion Date or Further
Postponed Completion Date (as the case may be)).

**10.** **Music Business Carve-out** 

10.1 If the Grantee makes an Exclusion Election pursuant to subclause 3.2, the Grantor may elect to effect
the Music Business Carve-out by serving written notice to the Grantee by no later than the date falling twenty (20) Business Days following
the Exclusion Election (the "**Music Business Carve-out Notice** ").

10.2 The following key principles shall apply to the Music Business Carve-out:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Parties shall cooperate and negotiate in good faith and shall enter into definitive documentation
to implement the Music Business Carve-out, including the Separation Plan and any TSAs (in each case as defined below), on the Call Option
Completion Date (it being acknowledged that such definitive documents shall effect: (x) the transfer or other disposition by the
Anghami Group of all assets, economic risk and reward with respect to the Music Business to a person who is not a member of the Anghami
Group; and (y) the assumption of all liabilities and obligations with respect to the Music Business by a person who is not a member
of the Anghami Group, in each case with effect from no later than Call Option Completion) (hereinafter the "**Music Business Carve-out Completion**") and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) mutually agree on a separation plan setting out the steps towards the separation of the Music Business
from the Anghami Group, such that (as a condition to the Music Business Carve-out) by the date of Music Business Carve-out Completion,
subject to any ongoing transitional services arrangements between the Music Business and the Anghami Group, which shall be on a cost pass-through
basis, shall have a duration which expires no later than the date falling twelve (12) months following the Call Option Completion Date
and shall be customary for transactions of this type in terms of scope (the "**TSAs** "), neither the Music Business nor
any entity operating within the Music Business shall depend in any respect on any asset, right, service or benefit owned by any member
of the Anghami Group, and the Music Business can operate, immediately following Music Business Carve-out Completion, substantially in
the same manner as it operated immediately prior to the Music Business Carve-out Completion (such independent operation of the Music Business
constituting the "**Separation**" and such plan being the "**Separation Plan** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) give effect to the Music Business Carve-out as soon as reasonably practicable following the date of the
Music Business Carve-out Notice by complying with their respective obligations under the Separation Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Separation Plan shall detail:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the dependencies of the Music Business on the Anghami Group and the steps for removing and replacing such
dependencies, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the treatment of any shared contracts and any shared cost centre;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the solution for any shared intellectual property rights between the Music Business and the Anghami Group;

&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) how any aggregated personal or other data will be separated in order to achieve the Separation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) a plan for governance to ensure the Separation is achieved in a collaborative manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the high level details of the documentation to implement the Music Business Carve-out, including any TSAs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the details of any third party consents that will be required to split any contracts or provide TSAs and
the process for obtaining them;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a mutual "wrong pockets" concept which shall include customary mutual indemnities and which
shall be binding on the Parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any day 1 gaps in business continuity of the Music Business where a TSA will not be provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Parties shall use commercially reasonable endeavours to procure that the Separation is achieved by
the date upon which the TSA expires;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where the Separation Plan identifies that TSAs will be required following the Music Business Carve-out
Completion, the Parties shall negotiate in good faith such TSAs as are needed to address any such interdependencies while ensuring the
Anghami Group and its underlying businesses (other than the Music Business) continue to operate substantially in the same manner as operated
immediately prior to Music Business Carve-out Completion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Parties shall (x) engage in good faith to exchange information regarding the status and the implementation
of the Music Business Carve-out and (y) appoint at least one representative per Party to oversee implementation of the Separation
Plan, negotiation of the definitive documentation to implement the Music Business Carve-out, including the TSAs, and coordinate any such
information exchange until the Music Business Carve-out Completion; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the transaction documentation to effect the Music Business Carve-out shall only contain customary fundamental
warranties and not contain any business warranties relating to the Music Business.

**11.** **Warranties** 

**Grantor Warranties**

11.1 The Grantor warrants to the Grantee as of the date of this Agreement and at the Completion Date that each
of the Grantor Fundamental Warranties is true and accurate.

11.2 The Grantor warrants to the Grantee at the W&D Bring-down Date that each of the Grantor Business Warranties
and the Grantor Tax Warranties is true and accurate.

11.3 The Grantor shall not be liable in respect of a claim for breach of a Grantor Business Warranty or a Grantor
Tax Warranty to the extent that the facts or circumstances giving rise to such claim are fairly disclosed in the Bring-down Disclosure
Letter with sufficient detail to enable the Grantee to identify and make a reasonably informed assessment of the nature and scope of the
matter.

11.4 The provisions set out in schedule 5 (*Limitations on Seller's Liability*) of the SPA shall
apply *mutatis mutandis* to the Grantor Warranties, save that (i) any express or implied reference to the "Seller Fundamental
Warranties" shall be read as reference to the Grantor Fundamental Warranties, (ii) any express or implied reference to the
"Seller Business Warranties" shall be read as reference to the Grantor Business Warranties, (iii) any express or implied
reference to the "Seller Tax Warranties" shall be read as reference to the Grantor Tax Warranties, (iv) any express or
implied reference to the "date of this Agreement", the "First Completion Date," the "Second Completion Date"
or the "Third Completion Date" (as applicable) shall be read as a reference to the Call Option Completion Date, (v) any
express or implied reference to the "Transaction Documents" shall be read as a reference to this Agreement, and (vi) any
express or implied reference to the "Consideration" shall be read as reference to the Call Option Price.

**Grantee Warranties**

11.5 The Grantee warrants to the Grantor as of the date of this Agreement and at the Completion Date that each
of the Grantee Warranties is true and accurate.

**Grantee's Guarantor Warranties**

11.6 The Grantee's Guarantor warrants to the Grantor as of the date of this Agreement and at the Completion
Date that each of the Grantee's Guarantor Warranties is true and accurate.

**12.** **Grantee's Guarantor Payment Guarantee** 

12.1 In consideration of the Grantee agreeing to purchase the Grantor Shares on the terms set out in this Agreement,
the Grantee's Guarantor unconditionally and irrevocably:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) guarantees to the Grantor the payment when due of all amounts payable by the Grantee under or pursuant
to this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) agrees that if and each time that the Grantee defaults for any reason whatsoever in the performance of
any payment obligation, commitment or undertaking with respect to the Call Option Price under this Agreement, the Grantee's Guarantor
will on written request (without requiring the Grantor first to take steps against the Grantee or any other person) perform (or procure
performance of) or satisfy (or procure satisfaction of), such payment obligation, commitment or undertaking with respect to the Call Option
Price in regard to which such default has been made in the manner prescribed by this Agreement and as if it were the principal obligor
in respect of such payment obligation, commitment or undertaking.

12.2 The guarantee given under this Clause 12 is a continuing guarantee and is to remain in force until all
the payment obligations, commitments and undertakings of the Grantee with respect to the Call Option Price under this Agreement have been
performed or satisfied.

12.3 The Grantee Guarantor's obligations under this Agreement shall not be affected by any matter which
but for this provision might operate to affect or prejudice those obligations, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any time or indulgence granted to, or composition with, the Grantee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any variation or change to the terms of this Agreement or any right, guarantee, remedy or security from
or against the Grantee; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any unenforceability or invalidity of any obligation of the Grantee, such that this Agreement shall be
construed as if there were no such unenforceability or invalidity.

**13.** **Costs and Expenses** 

13.1 Each Party shall pay its own costs and expenses in relation to the negotiation, preparation and execution
of this Agreement and all other documents mentioned herein, provided that the Grantee shall be responsible for all costs and expenses
(including filing fees) incurred in relation to obtaining any consent or approval required in connection with the Call Option Conditions
set forth in subclause 8.1(b).

13.2 Any and all Stamp Taxes shall be borne by the Grantee in respect of the Call Option and the Grantor in
respect of the Put Option. The applicable Party shall make or submit all returns, filings or other documentation to the applicable Governmental
Authority in respect of any Stamp Taxes within the requisite period provided by any Applicable Law.

**14.** **Assignment** 

Except as otherwise expressly provided for in this Agreement no Party may assign, transfer, create an Encumbrance, declare a trust of or otherwise dispose of all or any part of its rights, benefits or obligations under this Agreement, save that the Grantee may assign (in whole or in part) the benefit of this Agreement to any other member of the Grantee's Group provided that if such assignee ceases to be a member of the Grantee's Group all benefits relating to this Agreement assigned to such assignee shall be deemed automatically by that fact to be re-assigned to the Grantee immediately before such cessation, provided further that, any such assignee shall not be entitled to receive under this Agreement any greater amount than that to which the assignor would have been entitled and neither the Grantee nor the Grantor (as applicable) shall be under any greater obligation or liability than if such assignment had never occurred. Notwithstanding the foregoing, no assignment shall relieve the assigning party of any of its obligations hereunder.

**15.** **Incorporation By Reference** 

The provisions of clauses 10 (*Confidentiality and Announcements*), 13 (*Further Assurance*), 15 (*Payment*), 17 (*Notices*), 18 (*Invalidity*), 19 (*Entire Agreement*), 20 (*Variation*), 21 (*No Waiver*), 22 (*Third Party Rights*), 23 (*Counterparts*) and 24 (*Governing Law and Submission to Jurisdiction*) of the SPA shall apply *mutatis mutandis* to this Agreement as if set out in full herein, with references to the "Agreement" being deemed to be references to this Agreement.

**In witness** whereof this Agreement has been entered into on the date first above written.

[*Signature Page Follows*]

**Schedule 1**

**Form of Call Option Price Notice**

To: OSN STREAMING HOLDING LIMITED

[●]

Dear [ ],

We, refer to the Option Agreement for the Sale and Purchase of Shares in OSN Streaming Limited dated [ ] (the "<u>Option Agreement</u>") and made between yourselves and ourselves and to the Call Option granted by you to us under the Option Agreement. Capitalised terms used but not defined herein shall have the meanings given to them in the Option Agreement.

We hereby give notice under and pursuant to subclause 3.1 of the Option Agreement that we intend to deliver a Call Exercise Notice in respect of all the Grantor Shares.

[[We hereby make an Exclusion Election]/[We do not make an Exclusion Election]].

Yours sincerely,

For and on behalf of

[WBD PURCHASER]

**Schedule 2**

**Form of Call Exercise Notice**

To: OSN STREAMING HOLDING LIMITED

[●]

Dear [ ],

We, refer to the Option Agreement for the Sale and Purchase of Shares in OSN Streaming Limited dated [ ] (the "<u>Option Agreement</u>") and made between yourselves and ourselves and to the Call Option granted by you to us under the Option Agreement. Capitalised terms used but not defined herein shall have the meanings given to them in the Option Agreement.

We hereby give notice under and pursuant to subclauses 2.1 and 4.1 of the Option Agreement that we exercise the Call Option granted by you to us in respect of all the Grantor Shares.

Yours sincerely,

For and on behalf of

[WBD PURCHASER]

**Schedule 3**

**Form of Put Exercise Notice**

To: OSN STREAMING HOLDING LIMITED

[●]

Dear [ ],

We, refer to the Option Agreement for the Sale and Purchase of Shares in OSN Streaming Limited dated [ ] (the "<u>Option Agreement</u>") and made between yourselves and ourselves and to the Call Option granted by you to us under the Option Agreement. Capitalised terms used but not defined herein shall have the meanings given to them in the Option Agreement.

We hereby give you notice under and pursuant to subclause 2.2 and [5.1 / 6.1] of the Option Agreement that we exercise the [CF Put Option / CM Put Option] granted by you to us in respect of all the Grantee Shares.

Yours sincerely,

For and on behalf of

[WBD PURCHASER]

**Schedule 4**

**Grantee's Warranties**

1. The Grantee is validly incorporated, in existence and duly registered under the law of its jurisdiction
of incorporation.

2. The Grantee has the requisite capacity, power and authority to execute and deliver this Agreement and
to perform its obligations under this Agreement and has or shall have taken all action necessary to authorise such execution and delivery
and the performance of such obligations.

3. This Agreement constitutes legal, valid and binding obligations on the Grantee in accordance with their
respective terms.

4. The execution and delivery by the Grantee of this Agreement and the performance of the obligations of
the Grantee under it do not and will not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) conflict with or constitute a default under any provision of the constitutional documents of the Grantee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) materially conflict with or constitute a default under any provision of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any material law, lien, lease, order, judgment, award, injunction, decree, ordinance or regulation or
any other restriction of any kind or character by which the Grantee is bound; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any material agreement or instrument to which the Grantee is a party.

5. Other than as expressly contemplated under the Call Option Conditions, all authorisations from, and notices
or filings with, any Governmental Authority that are necessary to enable the Grantee to execute, deliver and perform its obligations under
this Agreement have been obtained or made (as the case may be) and are in full force and effect and all conditions of each such authorisation
have been complied with.

6. The Grantee is not insolvent or bankrupt under the laws of its jurisdiction of incorporation, is not unable
to pay its debts as they fall due and has not proposed or is not liable to effect any arrangement (whether by court process or otherwise)
under which its creditors (or any group of them) would receive less than the amounts due to them.

**Schedule 5**

**Grantee Guarantor's Warranties**

1. The Grantee's Guarantor is validly incorporated, in existence and duly registered under the law
of its jurisdiction of incorporation.

2. The Grantee's Guarantor has the requisite capacity, power and authority to execute and deliver this
Agreement to perform its obligations hereunder and has or shall have taken all action necessary to authorise such execution and delivery
and the performance of such obligations.

3. This Agreement constitutes legal, valid and binding obligations on the Grantee's Guarantor in accordance
with its terms.

4. The Grantee's Guarantor is not insolvent or bankrupt under the laws of its jurisdiction of incorporation,
is not unable to pay its debts as they fall due and has not proposed or is not liable to effect any arrangement (whether by court process
or otherwise) under which its creditors (or any group of them) would receive less than the amounts due to them.

**Schedule 6**

**Grantor's Warranties**

**PART 1: GRANTOR FUNDAMENTAL WARRANTIES**

1. The Grantor and its Investor Transferees (as defined in the Shareholders' Agreement) are the sole and
beneficial owner of the Grantor Shares and there is no Encumbrance on, over or affecting any of the Grantor Shares and no person has claimed
to be entitled to any such Encumbrance.

2. No person is entitled or has claimed in writing to be entitled to require the Company to issue any share
or loan capital either now or at any future date whether contingently or not.

3. The Grantor Shares have been validly issued and allotted and are fully paid up.

4. The Grantor Shares comprise the whole of the allotted and issued share capital of the Company, excluding
the Grantee Shares.

5. The Grantor is validly incorporated, in existence and duly registered under the law of its jurisdiction
of incorporation.

6. The Grantor has the requisite capacity, power and authority to execute and deliver this Agreement and
to perform its obligations under this Agreement and has or shall have taken all action necessary to authorise such execution and delivery
and the performance of such obligations.

7. This Agreement constitutes legal, valid and binding obligations on the Grantor in accordance with their
respective terms.

8. The execution and delivery by the Grantor of this Agreement and the performance of the obligations of
the Grantor under it do not and will not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) conflict with or constitute a default under any provision of the constitutional documents of the Grantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) materially conflict with or constitute a default under any provision of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any material law, lien, lease, order, judgment, award, injunction, decree, ordinance or regulation or
any other restriction of any kind or character by which the Grantor is bound; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any material agreement or instrument to which the Grantor is a party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) other than as contemplated by this Agreement, result in the creation or imposition of any Encumbrance
on any of the Grantor Shares.

9. Other than as expressly contemplated under the Call Option Conditions, all authorisations from, and notices
or filings with, any Governmental Authority that are necessary to enable the Grantor to execute, deliver and perform its obligations under
this Agreement have been obtained or made (as the case may be) and are in full force and effect and all conditions of each such authorisation
have been complied with.

10. The Grantor is not insolvent or bankrupt under the laws of its jurisdiction of incorporation, is not unable
to pay its debts as they fall due and has not proposed or is not liable to effect any arrangement (whether by court process or otherwise)
under which its creditors (or any group of them) would receive less than the amounts due to them.

**PART 2: GRANTOR BUSINESS WARRANTIES**

**1.** **CORPORATE MATTERS** 

**Subsidiaries and associations**

1.1 No Group Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) holds or beneficially owns or has agreed to acquire any securities of any other company other than another
Group Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is, nor has agreed to become, a member of any partnership (whether incorporated or unincorporated) or
other unincorporated association or consortium (other than recognised trade associations).

1.2 Anghami's Annual Report on Form 20-F for the fiscal year ended 31 December 2023 (the "**20-F** ")
was, as at the time of filing (the "**20-F Filing Date** "), fully true and accurate in so far as it related to (i) Anghami's
ownership of its direct and indirect subsidiaries, and (ii) any minority interests in such subsidiaries, and there has been no change
to the ownership of the Group Companies since the 20-F Filing Date, nor did the 20-F contain any material inaccuracies in respect of any
other matters.

**Constitutional documents and statutory books and registers**

1.3 The copies of the constitutional documents of each Group Company which are in the Data Room are accurate
and complete in all material respects.

1.4 The register of members and other statutory books and registers of each Group Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) have been properly kept;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) contain an accurate and complete record of the matters which should be dealt with in those statutory books
and registers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no notice or allegation that any of them is incorrect or should be rectified has been received from a
shareholder or relevant company authority,

in each case in all material respects.

1.5 All returns, particulars, resolutions and other documents which a Group Company is required by Applicable
Law to file with or deliver to the relevant company authority have been correctly made up and duly filed or delivered.

**Dividends and distributions**

1.6 All dividends or other distributions of profits or assets declared, made or paid by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company since the date of its incorporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) each Anghami Group Company since 1 April 2024,

have been declared, made and paid in accordance with Applicable Law and the relevant Group Company's constitutional documents in all material respects.

**Business of the Company**

1.7 The Company has, since the date of the Company's investment in Anghami:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) other than as contemplated by the Transaction Documents, only ever been operated as a holding company
with an interest in Anghami and conducted activities related to, or reasonably incidental to, the maintenance of its corporate existence;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) never:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) traded or operated a business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) had any material assets (other than cash, and shares in Anghami); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) had any material liabilities which remain outstanding.

**2.** **ACCOUNTS** 

**Accuracy of Accounts**

2.1 In this paragraph 2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Anghami Accounts**" means the latest audited consolidated statements of financial position
of the Anghami Group that have been approved as at the date of the Call Option Price Notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Anghami Accounts Date**" means the date of the Anghami Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Anghami Management Accounts**" means the unaudited, consolidated financial accounts
(comprising the balance sheet, cash flow statement and the profit and loss statement) of Anghami for the period from the Anghami Accounts
Date to the last day of the calendar month immediately prior to the date of the Call Option Price Notice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Company Management Accounts**" means the unaudited, standalone balance sheet of the
Company and the profit and loss statement of the Company for the 12 month period ending on the last day of the calendar month immediately
prior to the date of the Call Option Price Notice.

2.2 The Anghami Accounts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) have been prepared and audited in all material respects in accordance with Applicable Law and IFRS and
on a basis consistent with the basis upon which the audited financial statements of Anghami were prepared in respect of the financial
year prior to the Anghami Accounts Date, except as set out therein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) give a true and fair view of the assets, liabilities and financial position of Anghami as at the Anghami
Accounts Date and of the profit or loss of Anghami for the financial year ended on the Anghami Accounts Date.

**Management Accounts**

2.3 The Company Management Accounts and Anghami Management Accounts each:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) have been derived from the relevant Group Company's books and records where applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) have been prepared with due care and attention, having regard to their nature and purpose for which they
were prepared, on a basis consistent with past practice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) do not materially misstate the financial position of the relevant Group Company for the period in respect
of which they have been prepared.

**Events since the Anghami Accounts Date**

2.4 Since the Anghami Accounts Date, the Company has and each of the Anghami Group Companies has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) conducted its business in all material respects in the ordinary and usual course consistent with past
practice and without any material interruption and without any material alteration to its nature, scope or manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not experienced any material adverse change in its turnover, trading performance, financial position or
prospects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not acquired or disposed of, or agreed to acquire or dispose of, any asset with a book value or market
value (whichever is higher) in excess of US$1,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) not materially changed the policy or procedures by which it collects its debts or pays its creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) not declared, authorised, paid or made any dividend or other distribution (whether in cash or in kind)
or materially reduced its paid-up share capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) not incurred or agreed to incur capital expenditure in excess of US$1,000,000 (in the case
of all such commitments) or in excess of US$1,000,000 (in the case of any one such commitment); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) not issued or agreed to issue any share or loan capital.

**3.** **ASSETS** 

3.1 The Group Companies own or have the right to use each material asset used in and necessary for the operation
of the Group's business as operated as at the date of this Agreement.

**4.** **FINANCIAL ARRANGEMENTS** 

**Financial Indebtedness**

4.1 The Company does not have and, to the Grantor's knowledge, none of the other Group Companies have, any
outstanding any Financial Indebtedness.

**Government grants**

4.2 The Company is not and none of the Anghami Group Companies are, subject to any arrangement for receipt
or repayment of any grant, subsidy or financial assistance from any Governmental Authority.

**5.** **INSOLVENCY** 

5.1 In the case of the Company, since the date of its incorporation and in the case of the Anghami Group,
since 1 April 2024:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no administrative or other receiver has been appointed in respect of any Group Company or in respect of
the whole or any part of the assets or undertaking of any Group Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) no moratorium has been sought by, or granted in respect of, any Group Company under any applicable insolvency
legislation under the laws of its jurisdiction of incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no Group Company has stopped or suspended payment of its debts, become unable to pay its debts or otherwise
become insolvent under the laws of its jurisdiction of incorporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no compromise or arrangement has been proposed by any Group Company and no such compromise or arrangement
has been approved, agreed to or sanctioned by all or any classes of creditors of any Group Company.

5.2 In the case of the Company, since the date of its incorporation and in the case of the Anghami Group,
since 1 April 2024, to the Grantor's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no petition has been presented, nor has any application been made, for the appointment of an administrator
in respect of any Group Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) no person has been appointed, no proceedings have been commenced, no order has been obtained and no other
action has been taken of a type mentioned in any of the paragraph above in any jurisdiction other than its jurisdiction of incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no meeting has been convened at which a resolution is to be proposed, no resolution has been passed, no
petition has been presented and no order has been made for the winding up of any Group Company and no provisional liquidator has been
appointed to any Group Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no voluntary arrangement has been proposed by or approved in respect of any Group Company under any applicable
insolvency legislation under the laws of its jurisdiction of incorporation.

5.3 No circumstances have arisen which entitle any person to appoint any person, commence any proceedings,
obtain any order or, so far as the Grantor is aware, take any action of a type mentioned paragraphs 5.1 or 5.2 above in respect of the
Company or any Anghami Group Company.

**6.** **CONTRACTS AND COMMITMENTS** 

6.1 The Data Room contains a full and accurate copy of each Material Contract.

6.2 To the Grantor's knowledge, each Material Contract is in full force and effect.

6.3 To the Grantor's knowledge, there has been no material breach of any Material Contract or any allegation
that there has been such a breach in the 12 months prior to the date of this Agreement.

6.4 To the Grantor's knowledge, no counterparty to any Material Contract has in the 12 months prior to the
date of this Agreement terminated the relevant Material Contract nor has it ceased or reduced or indicated an intention to cease or reduce
its trading or terminate the relevant Material Contract with the relevant Group Company, nor is such counterparty likely to take any such
action as a result of matters contemplated by the Transaction Documents.

6.5 To the Grantor's knowledge, no offer, tender or the like which is capable of being converted into an obligation
of any Group Company by an acceptance or other act of some other person is outstanding, except in the ordinary course of trading of that
Group Company.

6.6 No licensor of media content to Anghami, whether directly or indirectly by way of a sublicence agreement
between Anghami and an Affiliate of the Grantor, would be entitled to terminate their licence or licensing arrangement as a result of
Call Option Completion.

**7.** **INSURANCE** 

7.1 The particulars of insurance policies effected for the benefit of the Anghami Group are set out in the
Data Room Information or otherwise Disclosed.

7.2 In respect of the insurance policies currently maintained in whole or in part for the benefit an Anghami
Group Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all such policies are currently in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all premiums have been duly paid to date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) there exist no circumstances would reasonably be expected to make any such insurance policy void or voidable.

**8.** **INTELLECTUAL PROPERTY** 

8.1 The information relating to Intellectual Property in the Data Room is complete and accurate in all material
respects.

8.2 Each registered, and each application for a registered, Intellectual Property Right listed in folders
08.05.01(a)-(b) in the Data Room is owned by an Anghami Group Company (the "**Registered IP** ").

8.3 Each Intellectual Property Right owned by any Anghami Group Company is legally and beneficially owned,
free from any Encumbrance, solely by the Anghami Group Company (and in the case of applications and registrations, the relevant Anghami
Group Company is the owner of record).

8.4 No Registered IP is the subject of any ongoing, pending or threatened proceedings or administrative action
(including opposition, revocation and invalidity actions).

8.5 In the 24 months immediately preceding the date of this Agreement, no material claim, legal action, proceeding,
suit, or litigation has been brought against any third party by any Anghami Group Company in respect of infringement of any Intellectual
Property Right owned by any Group Company and no Anghami Group Company has received written notice of any such claim, legal action, proceeding,
suit, or litigation in the 24 months immediately preceding the date of this Agreement.

8.6 The Anghami Group owns or has licensed to it all material Intellectual Property Rights it requires to
carry on its business as such business has been carried on during the 12 months immediately preceding the date of this Agreement.

8.7 No activities of any Anghami Group Company infringe or misappropriate any Intellectual Property Right
owned by any third party and, in the 24 months immediately preceding the date of this Agreement, no claim legal action, proceeding, suit,
or litigation has been brought against any Anghami Group Company in respect of any actual or purported infringement or misappropriation
of any Intellectual Property Right owned by any third party.

8.8 All current and former employees, officers, directors, consultants, secondees and independent contractors
of any Anghami Group Company who have contributed to the creation or development of any material Intellectual Property Rights for or on
behalf of any Anghami Group Company have created those Intellectual Property Rights either within the scope of their employment with or
engagement by the relevant Anghami Group Company, or pursuant to a written agreement with the relevant Anghami Group Company which assigns
or requires that employee, officer, director, consultant, secondee and independent contractor to assign to that Anghami Group Company
all of its right, title and interest in and to those Intellectual Property Rights.

**9.** **SYSTEMS, SOFTWARE, WEBSITES AND CYBERSECURITY** 

**Interpretation**

9.1 In this paragraph 9:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Bespoke Software**" means any software, used by an Anghami Group Company and written
by or for an Anghami Group Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Cybersecurity Law**" means all Applicable Laws concerning cybersecurity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Incident**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any actual unauthorised access to a System or breach of a System's security policy that materially
affects the security, confidentiality, integrity, or availability of any System, other information technology system, infrastructure,
communications network, device or data, including denial of service attacks, infection with malware (including ransomware, spyware, worms,
trojans and viruses), hacking, breach of confidence or electronic theft, fraud or extortion (including in each case by any current or
former employee, officer, director, consultant, secondee, agent or independent contractor) or "man in the middle" attacks;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any other event materially affecting the security of a System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Open Source Materials**" means any and all software and other materials that are distributed
as "free software" or "open source software"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Systems**" means all the software, hardware, network and telecommunications equipment
and internet-related information technology (including cloud services) that are used by any Anghami Group Company in connection with the
operation of its business as currently conducted and System means any of the foregoing.

**Systems**

9.2 In respect of any material Bespoke Software:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Bespoke Software does not include, and was not based upon, any "open source" software
which had been made available on terms which could require the disclosure or distribution of the source code to third parties, or the
licensing to third parties of any proprietary software on the terms of any open source software licence; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) there are no material defects to or corruptions in such Bespoke Software.

9.3 Since 1 April 2024 there have been no breakdowns, malfunctions, failures, downtime or other defects
in any System which have had a material adverse effect on the operations or commercial activities of an Anghami Group Company, and no
circumstance exists which is reasonably likely or expected to give rise to any of the foregoing.

9.4 The Systems do not contain any computer virus or malicious code and the relevant Anghami Group Company
has taken adequate steps to monitor the Systems.

**Source code**

9.5 A Group Company has in its possession, or has all necessary rights to obtain, the source code and all
related technical and other information required to enable its appropriately skilled employees or those of a third party to maintain and
support the Bespoke Software used by or held for use by the Group Companies comprised in the Systems in all material respects.

9.6 No Group Company has disclosed to any third party any source code or algorithms relating to any software
owned (either solely or jointly) by any Group Company other than under a written confidentiality agreement or appropriate duty of confidentiality.

**Websites, mobile applications and domain names**

9.7 Full and accurate particulars of all domain names used by each Anghami Group Company in connection with
the operation of its business as currently conducted are in the Data Room (to the extent applicable). An Anghami Group Company is the
registrant of each such domain name.

9.8 Each Group Company is the owner of or holds a valid licence to, all material Intellectual Property Rights
subsisting in the design and layout of its websites and apps and is either the owner or licensee of all material software relating to
the operation, functionality and performance of those websites.

**Open Source Materials**

9.9 No Anghami Group Company has made use of, is currently making use of any Open Source Materials, or has
incorporated or currently incorporates any Open Source Materials into any proprietary software in a manner which would require:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the disclosure or distribution of the Company's proprietary source code to third parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the licensing to third parties of any proprietary software on the terms of any open source software licence.

**Cybersecurity**

9.10 Full and accurate particulars of or, in the case of a document, a copy of each Group Company's written
policies and procedures applicable to any Incident (including the monitoring, prevention, detection and management of any Incident), including
disaster recovery plans and business continuity plans are in the Data Room (to the extent applicable). Those policies, procedures and
plans are in each case up-to-date, appropriate and adequate for the purposes of the Group Companies in all material respects. No Anghami
Group Company nor any of the employees, officers, directors, consultants or secondees of any Anghami Group Company has (during the course
of their duties) done or omitted to do anything which is a contravention of any of those policies, procedures and plans such that it would
have a material adverse effect on the Group taken as a whole.

9.11 Since 1 April 2024, there has been no Incident affecting any System owned by any Anghami Group Company.

9.12 No Anghami Group Company is the subject of any investigation, inquiry, enforcement proceedings or process
by, or duty to notify, any Governmental Authority in relation to any Incident or its compliance with Cybersecurity Laws.

9.13 No email address of any Anghami Group Company has been used (whether successfully or unsuccessfully) by
any person in any phishing, spoofing or pharming scheme or any other scheme involving a third party falsely representing that it is that
Anghami Group Company or any employee, officer, director, consultant or secondee of any Anghami Group Company in a manner which has had
a material adverse effect on the Anghami Group taken as a whole.

**10.** **COMPLIANCE AND DISPUTES** 

10.1 Each Anghami Group Company, and each of their employees, officers, directors, consultants or secondees
are conducting, and have conducted at all times the business and operations of each Anghami Group Company in all material respects in
compliance with Applicable Law and have not done or omitted to do anything which has resulted or may result in any sanction on the part
of any Anghami Group Company.

10.2 To the Grantor's knowledge, no Group Company is engaged in any Action whether as plaintiff, defendant
or otherwise and there are no such Actions pending by or against any Group Company such that it would have a material adverse effect on
the Group taken as a whole.

10.3 To the Grantor's knowledge, there are no circumstances which are likely to give rise to any Action by
or against any Group Company.

**11.** **INFORMATION SECURITY** 

To the Grantor's knowledge, all the books and records and all other data and information of each Group Company are recorded, stored, maintained, operated or otherwise held exclusively by or on behalf of one or more of the Group Companies and are not wholly or partly dependent on any facilities or means (including any electronic, mechanical or photographic process, computerised or otherwise) which are not under the exclusive ownership or control of one or more of the Group Companies.

**12.** **DATA AND DATA PROTECTION** 

**Compliance and breaches**

12.1 Since 1 April 2024, each Anghami Group Company has complied with Data Protection Law in all material
respects (and to the extent applicable), including in relation to any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) data protection principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) requirement to maintain written records of processing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) requirement to maintain complete, accurate and up-to-date records of all processing activities undertaken
by the Company or by a processor on its behalf;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) requirement to undertake data protection impact assessments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) requirement to respond to requests from data subjects to exercise their rights under Data Protection Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) requirement to report personal data breaches to any Data Protection Authority and to data subjects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) requirement to implement appropriate safeguards in relation to international transfers of personal data,
and to ensure an equivalent level of protection for that personal data as provided under Data Protection Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) requirement to register with any applicable Data Protection Authority in any jurisdiction and complied
with all requirements of such registries to maintain complete, accurate and up to date records; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) requirements relating to the notification by data controllers to the relevant data protection regulator
of their processing of personal data.

12.2 To the extent applicable, each Anghami Group Company has entered into written agreements (which comply
with Data Protection Law in all material respects) with any person which processes or has processed personal data on its behalf, or on
whose behalf it processes or has processed personal data.

12.3 Since 1 April 2024, there has been no breach of security leading to any material accidental or unlawful
destruction, loss, alteration or unauthorised disclosure of or access to, any personal data transmitted, stored or otherwise processed
by any Anghami Group Company or by any processor on its behalf.

12.4 Since 1 April 2024, no Anghami Group Company has received: (a) any notice or allegation from
any Data Protection Authority in any jurisdiction alleging non-compliance with any Data Protection Law, or requiring an Anghami Group
Company to cease processing personal data, including to cease any international transfer of personal data or disclosure of personal data;
or (b) any written notice or allegation from a controller or data subject alleging material non-compliance with any Data Protection
Law.

**13.** **LICENCES AND CONSENTS** 

13.1 Each Anghami Group Company has all material licences (including statutory licences), permissions, authorisations
and consents necessary to own and operate its assets and to carry on its business as it does at present and all such material licences,
authorisations and consents are in full force and effect.

13.2 Each Anghami Group Company has at all times complied in all material respects with the terms and conditions
of its material licences, permissions, authorisations and consents, and no circumstances exist which may result in the termination, revocation,
suspension or modification of any of those material licences, permissions, authorisations or consents or that may prejudice the renewal
of any of them.

**14.** **ANTI-CORRUPTION AND AML LAWS AND PROHIBITED PAYMENTS** 

**Anti-bribery and Anti-corruption**

14.1 Each Anghami Group Company and its respective directors, officers, employees and, agents, are and have
since 1 April 2024, in compliance with Anti-Corruption Laws.

14.2 Each Anghami Group Company has put in place and is in all material respects appropriately implementing
policies and procedures reasonably designed to ensure compliance with Anti-Corruption Laws.

14.3 No Anghami Group Company nor any of its directors, officers, employees, or agents, is or has been, since
1 April 2024, engaged in or been subject to any Action concerning or relating to any Anti-Corruption Laws nor are there any circumstances
which could reasonably be expected to give rise to any such Action.

**Anti-money laundering**

14.4 Each Anghami Group Company and its respective directors, officers, employees and agents, are and have
since 1 April 2024, in compliance with AML Laws.

14.5 Each Anghami Group Company has put in place and is in all material respects appropriately implementing
policies and procedures reasonably designed to prevent violations of AML Laws.

14.6 No Anghami Group Company, nor any of its directors, officers, employees, or agents, is or has been, since
1 April 2024, engaged in or been subject to any Action concerning or relating to any AML Laws nor, to the Grantor's knowledge,
are there any circumstances which could reasonably be expected to give rise to any such Action.

**Actions involving Government Officials and Others**

14.7 No Anghami Group Company, nor any of its directors, officers, employees, or agents, has, since 1 April 2024,
directly or indirectly, made, offered, or otherwise authorised any money, donations, gifts, other benefits or anything else of value to
any Government Official or other person, or authorised the taking of any such action, for the purpose of influencing any act of or gaining
any improper business advantage.

**15.** **SANCTIONS** 

**Compliance with applicable Sanctions Laws**

15.1 No Anghami Group Company, nor any of their respective directors, officers, employees, or agents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is, or is directly or indirectly owned or controlled by, a Sanctioned Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) has violated or is in violation of any Sanctions, or has engaged in or is engaging in any conduct which
could reasonably be expected to result in it being designated as a Sanctioned Person by any Sanctions Authority; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) has or has been, since 1 April 2024, engaged in or been subject to any Action concerning or relating
to any Sanctions nor are there any circumstances which could reasonably be expected to give rise to any such Action.

**Actions involving Sanctioned Persons**

15.2 No Anghami Group Company, nor any of its directors, officers, employees, or agents, has, directly or knowingly
indirectly, transacted any business with, provided or received any services to/from, or otherwise acted for the benefit of any Sanctioned
Person.

**16.** **PROPERTIES** 

16.1 In this paragraph 16:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Lease**" means a lease under which a Leased Property is held; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Leased Properties**" means the properties set out in Data Room document 08.02.01 and
Leased Property means any of them.

**Title and Encumbrances**

16.2 To the Grantor's knowledge, the Leased Properties are the only properties that any Group Company owns,
controls, leases, uses or occupies and all deeds and documents necessary to prove title to each Leased Property are in the possession
of the relevant Group Company.

16.3 To the Grantor's knowledge, the description and particulars of each Leased Property set out in Data Room
document 08.02.01 are accurate and complete in all material respects.

16.4 To the Grantor's knowledge, the relevant Group Company has all legal rights necessary for the current
use and enjoyment and upkeep of each Leased Property and the facilities thereon and those rights are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for the term of the lease; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) free from onerous or unusual conditions and expenditure; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) enjoyed on terms which do not entitle any person to terminate or curtail them.

16.5 To the Grantor's knowledge, none of the Leased Properties is subject to any rights in favour of any third
party which materially interferes with its current use.

**Leases**

16.6 To the Grantor's knowledge (and to the extent applicable), in respect of each Lease:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all rent and other sums and outgoings have been paid up to date, save for any nominal rent where payment
of such nominal rent has not been demanded;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) there are no material defaults by the relevant Group Company which are outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no notice of a material nature has been given or received by any Group Company and there is no subsisting
dispute between any Group Company and the landlord of that Lease; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where the rent is reserved by a Lease which is subject to review, all reviews are calculated on an open
market basis and there are no outstanding rent reviews,

in each case, in all material respects.

16.7 To the Grantor's knowledge, no major item of expenditure which is recoverable in whole or in part from
any Group Company has been incurred by the landlord of any Lease within 12 months following the date of this Agreement such that it would
have a material adverse effect on the Group taken as a whole.

**17.** **EMPLOYEES** 

**Interpretation**

17.1 In this paragraph 17, "**Employee**" means any person who is employed by any Anghami Group
Company.

**Particulars Disclosed**

17.2 No arrangement has been entered into regarding any material future variation to the terms and conditions
of employment of any of the Key Employees and no negotiations have commenced for any such material variation.

17.3 No Key Employee has given notice of termination of their contract of employment or is under notice of
dismissal or has provided notice of an intent to resign or retire.

17.4 All Employees are employed in either the Cayman Islands, Egypt, Lebanon, Saudi Arabia or the United Arab
Emirates.

**Disputes**

17.5 There is no material litigation, claim or other dispute existing, pending by or in respect of any of the
Employees, former employees, independent contractors, workers or consultants of any Anghami Group Company, or against any person whom
it is liable to compensate or indemnify, in respect of their employment or engagement or any material matter arising from that employment
or engagement.

17.6 There are no labour disputes pending against any Anghami Group Company by any group of Employees.

17.7 No Employee, former employee, independent contractor, worker or consultant of any Anghami Group Company
is, or has since 1 April 2024 been, involved in any criminal proceedings relating to the business of any Anghami Group Company.

**18.** **BENEFITS** 

18.1 In this paragraph 18:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Benefit Plan**" means any stock purchase, stock option, severance, redundancy, termination,
employment, individual consulting, retention, separation, transition, transaction, change-in-control, fringe benefit, collective bargaining,
bonus, commission, non-equity incentive, equity incentive, deferred compensation, profit sharing, pension, retirement, welfare, health,
accident, disability, life insurance, sick pay, post-employment or retiree welfare, savings, salary continuation, vacation, paid time
off, and all other compensatory or employee benefit plans, agreements, contracts, programs, policies or other arrangements, whether or
not written, which is or has been maintained, sponsored, contributed to, or required to be contributed to, by any Anghami Group Company
for the benefit of any Employee or under which any Anghami Group Company has any present or future material liability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Employee**" means any person who is employed by any Anghami Group Company;

18.2 The Grantor has provided to the Purchaser copies of the rules and other documentation relating to
Benefit Plans of the Employees.

**Compliance**

18.3 None of the Anghami Group Companies have incurred or may incur any pension liability and there are no
material unpaid obligation in connection with any Benefit Plan.

18.4 All Benefit Plans:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) have, since 1 April 2024, been maintained, operated and funded in either the Cayman Islands, Egypt,
Lebanon, Saudi Arabia or the United Arab Emirates and have been in all material respects in accordance with Applicable Law (including
applicable tax withholding and reporting requirements and applicable legal filings);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if they are intended to qualify for special tax treatment, have met all material requirements for such
treatment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if they are intended to be funded and/or book-reserved, are funded and/or book reserved in all material
respects, as required, based upon reasonable actuarial assumptions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if they are required to be registered with the applicable Governmental Authority, have been registered
and have been maintained in good standing.

**Effect of the Transaction**

18.5 The matters contemplated by the Transaction Documents will not cause any payment or benefit under any
Benefit Plan to or in respect of any person to change or increase, or accelerate the vesting, timing, funding or payment of any Benefit
Plan.

**19.** **TAX** 

19.1 Each Group Company has timely filed, or caused to be timely filed (taking into account any valid extension
of time to file granted or obtained), all material Tax Returns required to be filed by it, and such Tax Returns are true, accurate and
complete in all material respects.

19.2 All material Taxes for which each Group Company has been liable to account (whether or not shown on any
Tax Return), have been duly paid (in so far as such Taxes ought to have been paid) or are being contested in good faith and for which
reserves have been established in accordance with the IFRS.

19.3 No deficiency with respect to any Taxes has been proposed, asserted or assessed in writing by a Governmental
Authority against any Group Company, which is currently outstanding, and no written requests for waivers of the time to assess any such
Taxes are pending.

19.4 There are no Encumbrances with respect to any material Taxes upon any Group Company's assets, other
than Permitted Encumbrances.

19.5 Each Group Company has complied with all escheat, unclaimed or abandoned property laws in all material
respects and there is no material unclaimed property or escheat obligation with respect to property or other assets held or owned by any
Group Company.

19.6 There is no audit, proceeding or investigation now pending against or with respect to any Group Company
in respect of any Tax and no Group Company has received any written notice of any proposed audit, proceeding or investigation with regard
to any such Tax.

19.7 No Group Company has received a written notice from a Governmental Authority in a jurisdiction where it
does not file Tax Returns that indicates that it is or may be subject to taxation by that jurisdiction. Within the past 12 months, no
Group Company has received any written notice of, and, so far as the Grantor is aware, is not involved in, any dispute with any relevant
Governmental Authority with respect to any material amount of Taxes.

19.8 Each Group Company has withheld and paid all material amounts of Taxes required to have been withheld
and paid by it in connection with amounts paid or owing to any creditor, shareholder or other third party, and has complied in all material
respects with all Tax information reporting provisions with respect to such Taxes.

19.9 No Group Company has been a party to any transaction, scheme or arrangement designed wholly or mainly
and with the principal purpose of unlawfully evading a Tax liability of any Group Company.

19.10 No Group Company has constituted a "distributing corporation" or a "controlled corporation"
(within the meaning of Section 355(a)(1)(A) of the Code) in a distribution of shares qualifying for tax-free treatment under
Section 355 of the Code (or so much of Section 356 of the Code as relates to Section 355 of the Code) (i) in the last
2 years prior to the date of this Agreement or (ii) in a distribution that could otherwise constitute part of a "plan"
or "series of related transactions" (within the meaning of Section 355(e) of the Code) in conjunction with this
transaction.

19.11 No Group Company has entered into or has been a "material advisor" with respect to any "listed
transaction" or transaction that has given rise to any list maintenance obligation under Sections 6011, 6111, or 6112 of the Code
(or any similar or analogous provision under any state, local or non-U.S. Law) or the Treasury Regulations thereunder.

19.12 To the extent required by Applicable Law, each Group Company: (i) is duly registered for the purposes
of applicable VAT; (ii) has complied in all material respects with all laws in respect of VAT, and (iii) has collected or withheld
all material Taxes currently required to be collected or withheld by it, and all such Taxes have been paid to the appropriate Governmental
Authority or set aside in appropriate accounts for future payment when due.

19.13 No written claim has been made by a Governmental Authority in a jurisdiction where no Group Company files
Tax Returns that any Group Company is or may be subject to Tax in such jurisdiction.

19.14 No Group Company is a member of a consolidated group or a fiscal unity for the purposes of any Tax chargeable
on its income, profits or gains, or a party to any Tax allocation or sharing arrangement (including any arrangement under which any losses
or reliefs may be surrendered or claimed for the purposes of any Tax chargeable on income, profits or gains).

19.15 No Group Company is liable to pay or discharge an amount in respect of Tax liability (i) which is
the primary liability of any person (other than a Group Company), and (ii) which arose as a result of a transaction, event or act
carried out by such person or by reference to any profits earned by such person.

**Schedule 7**

**Independent Expert Determination**

**1.** **Assumptions and bases** 

The Determined Anghami Fair Market Value and Determined Net Debt Amount shall be determined assuming that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an arm's length sale of Anghami by way of a sale of the Grantor Shares or the Grantee Shares, as
applicable, between a willing seller and a willing buyer who are acting knowledgeably, prudently and without compulsion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Grantor Shares or the Grantee Shares, as applicable, are capable of being transferred without restriction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Company or Anghami is then carrying on business as a going concern, it shall continue to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the trading price of the shares of Anghami shall be disregarded;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Grantor Warranties are true, accurate and not misleading, save in respect of a claim for breach of
a Grantor Business Warranty or a Grantor Tax Warranty to the extent that the facts or circumstances giving rise to such claim are fairly
disclosed in the Bring-down Disclosure Letter with sufficient detail to enable the Independent Expert to identify and make a reasonably
informed assessment of the nature and scope of the matter; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Grantee Warranties are true, accurate and not misleading.

**2.** **Procedure** 

The following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the costs of the Independent Expert shall be bore equally by the Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the determination of the Independent Expert shall be made by reference to such matters as the Independent
Expert shall reasonably consider to be appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Independent Expert shall be given by the Parties all such information and other assistance as he or
she may reasonably require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Independent Expert shall be deemed to act as an expert and not an arbitrator; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the determination of the Independent Expert shall, in the absence of manifest error (whereupon it shall
be referred back to the Independent Expert for reconsideration), be final and binding on all concerned.

---

| | |
|:---|:---|
| **THE GRANTOR** | **THE GRANTOR** |
| **EXECUTED** for and on behalf of | **EXECUTED** for and on behalf of |
| **OSN STREAMING HOLDING LIMITED** | **OSN STREAMING HOLDING LIMITED** |
| by | /s/ Joseph El Kawkabani |
| Name: | Joseph El Kawkabani |
| Title: | Authorised Signatory |
| by | /s/ Fiona Robertson |
| Name: | Fiona Robertson |
| Title: | Authorised Signatory |

---

[*Signature Page to Option Agreement*]

---

| | |
|:---|:---|
| **THE GRANTEE** | **THE GRANTEE** |
| **EXECUTED** for and on behalf of | **EXECUTED** for and on behalf of |
| **DPLAY ENTERTAINMENT LIMITED** | **DPLAY ENTERTAINMENT LIMITED** |
| by | /s/ Roanne Weekes |
| Name: | Roanne Weekes |
| Title: | Director |

---

[*Signature Page to Option Agreement*]

---

| | |
|:---|:---|
| **THE GRANTEE'S GUARANTOR** | **THE GRANTEE'S GUARANTOR** |
| **EXECUTED** for and on behalf of | **EXECUTED** for and on behalf of |
| **DISCOVERY COMMUNICATIONS, LLC** | **DISCOVERY COMMUNICATIONS, LLC** |
| by | /s/ Fraser Woodford |
| Name: | Fraser Woodford |
| Title: | EVP & Treasurer |

---

[*Signature Page to Option Agreement*]

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 7)**

**Anghami Inc**

*(Name of Issuer)*

**Ordinary Shares, par value $0.0001 per share**

*(Title of Class of Securities)*

**G0369L101**

*(CUSIP Number)*

**Fiona Robertson**<br>OSN Building<br>Dubai Media City<br>Dubai C0 -<br>971 52 877 7826

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

**07/23/2025**

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

| **CUSIP No.** | **G0369L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**OSN Streaming Limited** | Name of reporting person<br>**OSN Streaming Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**72411753.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**72411753.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.8%** | Percent of class represented by amount in Row (11)<br>**70.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** 1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 36,985,507 ordinary shares, par value $0.0001 per share (the "Ordinary Shares") of Anghami Inc., an exempted company incorporated in the Cayman Islands with limited liability (the "Issuer"), plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note (each as defined in the Amended Schedule 13D). The total number of Ordinary Shares into which the Notes (as defined in the Amended Schedule 13D) are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.

| **CUSIP No.** | **G0369L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**OSN Streaming Holding Limited** | Name of reporting person<br>**OSN Streaming Holding Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**C0** | Citizenship or place of organization<br>**C0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**72411753.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**72411753.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.8%** | Percent of class represented by amount in Row (11)<br>**70.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** 1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 36,985,507  Ordinary Shares, plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. The total number of Ordinary Shares into which the Notes are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.

| **CUSIP No.** | **G0369L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Panther Media Holding Limited** | Name of reporting person<br>**Panther Media Holding Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**C0** | Citizenship or place of organization<br>**C0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**72411753.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**72411753.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.8%** | Percent of class represented by amount in Row (11)<br>**70.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** 1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 36,985,507 Ordinary Shares, plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. The total number of Ordinary Shares into which the Notes are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.

| **CUSIP No.** | **G0369L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Panther Media Group Limited** | Name of reporting person<br>**Panther Media Group Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**C0** | Citizenship or place of organization<br>**C0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**72411753.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**72411753.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.8%** | Percent of class represented by amount in Row (11)<br>**70.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** 1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 36,985,507  Ordinary Shares, plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. The total number of Ordinary Shares into which the Notes are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.

| **CUSIP No.** | **G0369L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Kuwait Projects Company (Holding) K.S.C.P** | Name of reporting person<br>**Kuwait Projects Company (Holding) K.S.C.P** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**M6** | Citizenship or place of organization<br>**M6** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**72411753.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**72411753.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | Aggregate amount beneficially owned by each reporting person<br>**72411753.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.8%** | Percent of class represented by amount in Row (11)<br>**70.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**Comment for Reporting Person:** 1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 36,985,507  Ordinary Shares, plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. The total number of Ordinary Shares into which the Notes are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, par value $0.0001 per share

**(b) Name of Issuer:**
Anghami Inc

**(c) Address of Issuer's Principal Executive Offices:**
16th Fl, Al-Khatem Tower, WeWork Hub71, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, C0, -

This Amendment No. 7 (this "Amendment No. 7") amends the initial statement on Schedule 13D filed on April 8, 2024 (the "Original Schedule 13D"), as amended and supplemented by Amendment No. 1 to the Original Schedule 13D, Amendment No. 2 to the Original Schedule 13D, Amendment No. 3 to the Original Schedule 13D, Amendment No. 4 to the Original Schedule 13D, Amendment No. 5 to the Original Schedule 13D and Amendment No. 6 to the Original Schedule 13D filed on November 19, 2024, December 18, 2024, February 3, 2025, February 7, 2025 and March 24, 2025 and July 21, 2025, respectively (the Original Schedule 13D, as so amended and supplemented, the "Amended Schedule 13D"), relating to the Ordinary Shares of the Issuer. The address of the principal executive office of the Issuer is 16th Floor, Al-Khatem Tower, WeWork Hub71, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable. The information reported in the Amended Schedule 13D remains in effect, except to the extent that it is amended, restated or superseded by information contained in this Amendment No. 7. Capitalized terms used but not defined in this Amendment No. 7 shall have the respective meanings ascribed to them in the Amended Schedule 13D. All references to the Schedule 13D in the Amended Schedule 13D and this Amendment No. 7 shall be deemed to refer to the Amended Schedule 13D as amended and supplemented by this Amendment No. 7.

**Item 4. Purpose of Transaction**

Item 4 is hereby supplemented by the addition of the following:

The Issuer issued the Third Note in the amount of $23,000,000 to OSN Streaming on July 25, 2025, pursuant to the Note Purchase Agreement. The foregoing descriptions of the Note Purchase Agreement and the Third Note are summaries of the material terms of such agreements, do not purport to be complete and are qualified in their entirety by reference to the Note Purchase Agreement and the Third Note, which were filed as Exhibit 8 to the Amended Schedule 13D and Exhibit 12 to this Amendment No. 7, respectively.

In addition, pursuant to the SPA entered into on March 23, 2025 by and among OSN Streaming Holding, the Purchaser and the Purchaser Guarantor (in each case, as defined in the Amended Schedule 13D), on July 23, 2025, the Purchaser completed the purchase of 1,900,118 ordinary shares of OSN Streaming (the "First Tranche Sale Shares"), cumulatively representing 11.28% of the total issued share capital of OSN Streaming, in exchange for a cash payment of $19,000,000. Subject to the satisfaction or waiver of the conditions specified in the SPA, the Purchaser will acquire from OSN Streaming Holding an additional number of ordinary shares in OSN Streaming cumulatively representing up to 22.55% (excluding the First Tranche Sale Shares) and 33.83% (including the First Tranche Sale Shares), respectively, of the total issued share capital of OSN Streaming as of the date of the SPA. The foregoing summary of the SPA does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the SPA, a copy of which was filed as Exhibit 11 to the Amended Schedule 13D.

On July 23, 2025, OSN Streaming, OSN Streaming Holding and the Purchaser entered into the Shareholders' Agreement (as defined in the Amended Schedule 13D) to regulate their affairs in relation to OSN Streaming and the Issuer, among other things. Pursuant to the Shareholders' Agreement, on July 23, 2025, the Purchaser appointed: (i) two members to the board of directors of OSN Streaming; (ii) one member to the Board; and (iii) one observer to both the Board and the audit committee of the Issuer.

The foregoing summary of the Shareholders' Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Shareholders' Agreement, a copy of which is filed as Exhibit 13 to this Amendment No. 7.

On July 23, 2025, OSN Streaming Holding, the Purchaser and the Purchaser Guarantor entered into the Option Agreement (as defined in the Amended Schedule 13D) pursuant to which OSN Streaming Holding granted the Purchaser the Call Option, the CM Put Option and the CF Put Option (in each case, as defined in the Amended Schedule 13D), subject to the terms and conditions set forth in the Option Agreement. The foregoing summary of the Option Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Option Agreement, a copy of which is filed as Exhibit 14 to this Amendment No. 7.

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

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

"The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. OSN Streaming is the record owner of an aggregate of (i) 36,985,507 Ordinary Shares, plus (ii) 13,426,246 Ordinary Shares underlying warrants that are exercisable at a price of $11.50 per Ordinary Share (subject to certain specified adjustments) in accordance with the terms of the OSN Warrant (as defined in the Amended Schedule 13D), plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of (x) the $12,000,000 aggregate principal amount of the Initial Note, (y) the $20,000,000 aggregate principal amount of the Second Note and (z) the $23,000,000 aggregate principal amount of the Third Note. The total number of Ordinary Shares into which the Notes are convertible does not include Ordinary Shares issuable upon the conversion of any PIK Interest, for which OSN Streaming is required to give more than 60 days' notice to the Issuer.

As of the date of this Amendment No. 7, (i) OSN Streaming Holding, a wholly owned subsidiary of PMH, holds a number of ordinary shares of OSN Streaming cumulatively representing 88.72% of the total issued share capital of OSN Streaming and (ii) the Purchaser holds a number of ordinary shares of OSN Streaming cumulatively representing 11.28% of the total issued share capital of OSN Streaming. Subject to the Second Completion and the Third Completion (each as defined in the Amended Schedule 13D), (i) OSN Streaming Holding will hold a number of ordinary shares of OSN Streaming cumulatively representing 66.17% of the total issued share capital of OSN Streaming as of the date of the SPA and (ii) the Purchaser will hold a number of ordinary shares of OSN Streaming cumulatively representing up to 33.83% of the total issued share capital of OSN Streaming as of the date of the SPA.

PMH, a wholly owned subsidiary of PMG, holds 100% of the equity interests in OSN Streaming Holding. PMG (a majority-owned subsidiary of which KIPCO holds approximately 88%), holds 100% of the equity interests in PMH.

As such, these persons may be deemed to be members of a "group" with, and may be deemed to have or share indirect voting and dispositive power, over any of the Ordinary Shares acquired directly by OSN Streaming.

The percentage of Ordinary Shares reported as beneficially owned by each Reporting Person is based on a total of 102,313,374 Ordinary Shares, which includes (i) 66,887,128 Ordinary Shares outstanding as of July 25, 2025, based upon information provided by the Issuer, plus (ii) 13,426,246 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons, plus (iii) 22,000,000 Ordinary Shares issuable upon the conversion of the Initial Note, the Second Note and the Third Note. In accordance with SEC rules governing beneficial ownership, the calculation of percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons."

**(b)**
Item 5(b) is hereby amended and restated as follows: "The information set forth in Item 5(a) of this Amendment No. 7 is incorporated herein by reference."

**(c)**
Item 5(c) is hereby amended and restated as follows: "Except as set forth in Items 3, 4 and 6, which information is incorporated herein by reference, during the 60 days preceding the date of this Schedule 13D, none of the Reporting Persons has effected any transactions of Ordinary Shares."

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

Item 6 is hereby supplemented by the addition of the following:

The information set forth in Item 4 of this Amendment No. 7 is incorporated herein by reference.

### SIGNATURE

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

**Reporting Person:** OSN Streaming Limited

**Signature:** /s/ Fiona Robertson

**Name/Title:** Fiona Robertson, Director

**Date:** 07/25/2025

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

**Reporting Person:** OSN Streaming Holding Limited

**Signature:** /s/ Fiona Robertson

**Name/Title:** Fiona Robertson, Director

**Date:** 07/25/2025

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

**Reporting Person:** Panther Media Holding Limited

**Signature:** /s/ Laura Herbin

**Name/Title:** Laura Herbin, Director

**Date:** 07/25/2025

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

**Reporting Person:** Panther Media Group Limited

**Signature:** /s/ Joseph El Kawkabani

**Name/Title:** Joseph El Kawkabani, Chief Executive Officer

**Date:** 07/25/2025

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

**Reporting Person:** Kuwait Projects Company (Holding) K.S.C.P

**Signature:** /s/ Sheikha Dana Naser Sabah Al Ahmad Al Sabah

**Name/Title:** Sheikha Dana Naser Sabah Al Ahmad Al Sabah, Director

**Date:** 07/25/2025