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Exhibit 4.18

DESCRIPTION OF SECURITIES REGISTERED UNDER SECTION 12 OF THE EXCHANGE ACT
The following description of our common shares, our 8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (the “Series A Preferred Shares”), our 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (the “Series B Preferred Shares”), our 8.25% Fixed Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (the “Series C Preferred Shares”) and certain provisions of Delaware law and our amended and restated limited liability company agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Operating Agreement”) does not purport to be complete and is in all respects subject to, and qualified in its entirety by reference to, all of the provisions of our Operating Agreement and Delaware law.
For purposes of this summary, (i) the term “Company” refers only to Fortress Transportation and Infrastructure Investors LLC, a Delaware limited liability company, and not to any of its subsidiaries and (ii) the terms “our”, “us”, and “we” refer to the Company and its consolidated subsidiaries, unless the context requires otherwise.
Authorized Shares 
Our authorized shares consist of: 
• 2,000,000,000 common shares, par value $0.01 per share (“common shares”); and 
• 200,000,000 preferred shares, par value $0.01 per share (“preferred shares”), 3,450,000 of which are designated as Series A Preferred Shares, 4,600,000 of which are designated as Series B Preferred Shares and 4,200,000 of which are designated as Series C Preferred Shares.
All the outstanding shares of our common shares and our Series A Preferred Shares, Series B Preferred Shares and Series C Preferred Shares are fully paid and non-assessable.
Common Shares 
No holder of common shares is entitled to preemptive, preferential or similar rights or redemption or conversion rights. Holders of common shares are entitled to one vote per share on all matters submitted to a vote of holders of common shares. Unless a different majority is required by law or by our Operating Agreement, resolutions to be approved by holders of common shares require approval by a simple majority of votes cast at a meeting at which a quorum is present.
Each holder of common shares is entitled to one vote for each common share held on all matters submitted to a vote of shareholders. Except as provided with respect to any other class or series of shares, the holders of our common shares will possess the exclusive right to vote for the election of directors and for all other purposes. Our Operating Agreement does not provide for cumulative voting in the election of directors, which means that the holders of a majority of the outstanding common shares can elect all of the directors standing for election, and the holders of the remaining shares are not able to elect any directors.
Although we currently intend to pay regular quarterly dividends to holders of our common shares, we may change our dividend policy at any time. Our net cash provided by operating activities has been less than the amount of distributions to our shareholders. The declaration and payment of dividends to holders of our common shares will be at the discretion of our board of directors in accordance with applicable law after taking into account various factors, including actual results of operations, liquidity and financial condition, net cash provided by operating activities, restrictions imposed by applicable law, our taxable income, our operating expenses and other factors our board of directors deem relevant. In addition, while any Series A Preferred Shares or Series B Preferred Shares remain outstanding, unless the full cumulative distributions on past distribution periods for such shares have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions set aside, we are generally prohibited from declaring and paying or setting aside any dividends on our common shares. See “Series A Preferred Shares-Priority Regarding Distributions,” “Series B Preferred Shares-Priority Regarding Distributions” and “Series C Preferred Shares-Priority Regarding Distributions.” Any rights of holders of our common shares to receive dividends, if any, declared from time to time by our board of directors out of legally available funds will also be subject to any preferred rights of holders of any additional preferred shares that we may issue in the future. 
Our long term goal is to maintain a payout ratio of between 50-60% of funds available for distribution, with remaining amounts used primarily to fund our future acquisitions and opportunities. There can be no assurance that we will continue to pay dividends in amounts or on a basis consistent with prior distributions to our investors, if at all. Because we are a holding company and have no direct operations, we will only be able to pay dividends from our available cash on hand and any funds we receive from our subsidiaries and our ability to receive distributions from our subsidiaries may be limited by the financing agreements to which they are subject. In addition, pursuant to the amended and restated partnership agreement of Fortress Worldwide Transportation and Infrastructure General Partnership, the General Partner will be entitled to receive incentive allocations before any amounts are distributed 

by the Company based both on our consolidated net income and capital gains income in each fiscal quarter and for each fiscal year, respectively.
Each holder of our common shares is admitted as a member of our limited liability company and deemed to have agreed to be bound by the terms of the Operating Agreement. Pursuant to the Operation Agreement, each holder of our common shares grants to certain of our officers (and, if appointed, a liquidator) a power of attorney to, among other things, execute and file documents required for our qualification, continuance or dissolution. The power of attorney also grants certain of our officers the authority to make certain amendments to, and to make consents and waivers under and in accordance with, the Operating Agreement.
In the event of our liquidation, dissolution or winding up, the holders of our common shares are entitled to share ratably in all assets remaining after the payment of liabilities, subject to any rights of holders of our preferred shares prior to distribution.
Our common shares trade on the New York Stock Exchange (“NYSE”) under the symbol “FTAI”.
Series A Preferred Shares
General 
The Operating Agreement authorizes the Company to issue up to 200,000,000 preferred shares in one or more series, and the Company’s board of directors is authorized to fix the number of shares of each series and determine the rights, designations, preferences, powers and duties of any such series. The “8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares” are designated as one series of our authorized preferred shares, consisting of 3,450,000 Series A Preferred Shares.
The Series A Preferred Shares represent perpetual equity interests in us and, unlike our indebtedness, do not give rise to a claim for payment of a principal amount at a particular date. As such, the Series A Preferred Shares rank junior to all of our current and future indebtedness and other liabilities with respect to assets available to satisfy claims against us. The Series A Preferred Shares have a fixed liquidation preference of $25.00 per Series A Preferred Share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of payment, whether or not declared; provided that the rights of the holders of Series A Preferred Shares to receive the liquidation preference will be subject to the proportional rights of holders of Parity Securities (as defined below) and to the other matters described under “-Liquidation Rights”. 
All of the Series A Preferred Shares are represented by a single certificate issued to The Depository Trust Company (and its successors or assigns or any other securities depositary selected by us) (the “Securities Depositary”) and registered in the name of its nominee. So long as a Securities Depositary has been appointed and is serving, no person acquiring Series A Preferred Shares will be entitled to receive a certificate representing such Series A Preferred Shares unless applicable law otherwise requires or the Securities Depositary resigns or is no longer eligible to act as such and a successor is not appointed. See “-Book-Entry System”.
Each holder of Series A Preferred Shares is admitted as a member of our limited liability company and deemed to have agreed to be bound by the terms of the Operating Agreement. Pursuant to the Operating Agreement, each holder of Series A Preferred Shares grants to certain of our officers (and, if appointed, a liquidator) a power of attorney to, among other things, execute and file documents required for our qualification, continuance or dissolution. The power of attorney also grants certain of our officers the authority to make certain amendments to, and to make consents and waivers under and in accordance with, the Operating Agreement. 
Our Series A Preferred Shares trade on the NYSE under the symbol “FTAI PR A”.
Ranking 
With respect to the payment of distributions and rights (including redemption rights) upon our liquidation, dissolution or winding up, the Series A Preferred Shares rank (i) senior and prior to our common shares and any class or series of preferred shares that by its terms is designated as ranking junior to the Series A Preferred Shares, (ii) pari passu with any class or series of preferred shares that by its terms is designated as ranking equal to the Series A Preferred Shares or does not state it is junior or senior to the Series A Preferred Shares (including our Series B Preferred Shares and Series C Preferred Shares), (iii) junior to any class or series of preferred shares that is expressly designated as ranking senior to the Series A Preferred Shares (subject to receipt of any requisite consents prior to issuance) and (iv) effectively junior to all of our existing and future indebtedness (including indebtedness convertible into our common shares or preferred shares) and other liabilities and to all liabilities and any preferred equity of our existing subsidiaries and any future subsidiaries.
The Series A Preferred Shares are not convertible into, or exchangeable for, shares of any other class or series of our Capital Stock (as defined herein) or other securities and will not be subject to any sinking fund or other obligation to redeem or repurchase the Series A Preferred Shares. The Series A Preferred Shares are not secured, are not guaranteed by us or any of our affiliates and are not subject to any other arrangement that legally or economically enhances the ranking of the Series A Preferred Shares. 

Distributions
Holders of the Series A Preferred Shares are entitled to receive, only when, as, and if declared by our board of directors, out of funds legally available for such purpose, cumulative cash distributions based on the stated liquidation preference of $25.00 per Series A Preferred Share at a rate equal to (i) from, and including, the original issue date of the Series A Preferred Shares to, but excluding, September 15, 2024 (the “Series A Fixed Rate Period”), 8.25% per annum, and (ii) beginning September 15, 2024 (the “Series A Floating Rate Period”), Three-Month LIBOR (as defined below) plus a spread of 688.6 basis points per annum and that sum will be the distribution rate for the applicable Distribution Period. A “Distribution Period” means the period from, and including, each Distribution Payment Date (as defined below) to, but excluding, the next succeeding Distribution Payment Date, except for the initial Distribution Period, which is the period from, and including, the original issue date of the Series A Preferred Shares to, but excluding, the next succeeding Distribution Payment Date. 
When, as, and if declared by our board of directors, we pay cash distributions on the Series A Preferred Shares quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year (each such date, a “Distribution Payment Date”), which payments began on December 15, 2019. We pay cash distributions to the holders of record of Series A Preferred Shares as they appear on our share register on the applicable record date, which for any Distribution Payment Date shall be the 1st calendar day of the month of such Distribution Payment Date or such other record date fixed by our board of directors as the record date for such Distribution Payment Date that is not more than 60 nor less than 10 days prior to such Distribution Payment Date. 
So long as the Series A Preferred Shares are held of record by the nominee of the Securities Depositary, declared distributions will be paid to the Securities Depositary in same-day funds on each Distribution Payment Date. The Securities Depositary will credit accounts of its participants in accordance with the Securities Depositary’s normal procedures. The participants will be responsible for holding or disbursing such payments to beneficial owners of the Series A Preferred Shares in accordance with the instructions of such beneficial owners. 
If any Distribution Payment Date on or prior to September 15, 2024 is a day that is not a business day (as defined below), then declared distributions with respect to that Distribution Payment Date will instead be paid on the immediately succeeding business day, without interest or other payment in respect of such delayed payment. If any Distribution Payment Date after September 15, 2024 is a day that is not a business day, then the Distribution Payment Date will be the immediately succeeding business day, and distributions will accrue to the Distribution Payment Date. A “business day” for the Series A Fixed Rate Period means any weekday in New York, New York that is not a day on which banking institutions in that city are authorized or required by law, regulation, or executive order to be closed. A “business day” for the Series A Floating Rate Period means any weekday in New York, New York that is not a day on which banking institutions in that city are authorized or required by law, regulation, or executive order to be closed, and additionally, is a London banking day (as defined below). 
We calculate distributions on the Series A Preferred Shares for the Series A Fixed Rate Period on the basis of a 360-day year consisting of twelve 30-day months. We calculate distributions on the Series A Preferred Shares for the Series A Floating Rate Period on the basis of the actual number of days in a Distribution Period and a 360-day year. Dollar amounts resulting from that calculation are rounded to the nearest cent, with one-half cent being rounded upward. Distributions on the Series A Preferred Shares will cease to accrue after the redemption date, as described below under “-Redemption”, unless we default in the payment of the redemption price of the Series A Preferred Shares called for redemption. 
Distributions on the Series A Preferred Shares are not mandatory. However, distributions on the Series A Preferred Shares accrue from the original issue date, or the most recent Distribution Payment Date on which all accrued distributions have been paid, as applicable, whether or not we have earnings, whether or not there are funds legally available for the payment of those distributions and whether or not those distributions are declared. No interest, or sum in lieu of interest, is payable in respect of any distribution payment or payments on the Series A Preferred Shares which may be in arrears, and holders of the Series A Preferred Shares are not entitled to any distribution, whether payable in cash, property, or shares, in excess of full cumulative distributions described above.
If in the future we issue additional shares of the Series A Preferred Shares, distributions on those additional shares will accrue from the most recent Distribution Payment Date at the then-applicable distribution rate.
The distribution rate for each Distribution Period in the Series A Floating Rate Period will be determined by the calculation agent using Three-Month LIBOR as in effect on the second London banking day prior to the beginning of the Distribution Period, which date is referred to as the “distribution determination date” for the relevant Distribution Period. The calculation agent then will add Three-Month LIBOR as determined on the distribution determination date and the spread of 688.6 basis points per annum. Once the distribution rate for the Series A Preferred Shares is determined, the calculation agent will deliver that information to us and the transfer agent for the Series A Preferred Shares. Absent manifest error, the calculation agent’s determination of the distribution rate for a Distribution Period for the Series A Preferred Shares will be final. A “London banking day” is any day on which commercial banks are open for dealings in deposits in U.S. dollars in the London interbank market. 

As used in this description of Series A Preferred Shares, the term “Three-Month LIBOR” means the London interbank offered rate for deposits in U.S. dollars for a three month period (the “three-month LIBOR rate”), as that rate is displayed on Bloomberg on page BBAM1 (or any successor or replacement page) at approximately 11:00 a.m., London time, on the relevant distribution determination date, provided that:
(i) If no offered rate is displayed on Bloomberg on page BBAM1 (or any successor or replacement page) on the relevant distribution determination date at approximately 11:00 a.m., London time, then the calculation agent, in consultation with us, will select four major banks in the London interbank market and will request each of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London interbank market, on that date and at that time. If at least two quotations are provided, Three-Month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest 0.00001 of 1%) of the quotations provided. 
(ii) Otherwise, the calculation agent in consultation with us will select three major banks in New York City and will request each of them to provide a quotation of the rate offered by it at approximately 11:00 a.m., New York City time, on the distribution determination date for loans in U.S. dollars to leading European banks for a three month period for the applicable Distribution Period in an amount of at least $1,000,000. If three quotations are provided, Three-Month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest 0.00001 of 1%) of the quotations provided. 
(iii) Otherwise, Three-Month LIBOR for the next Distribution Period will be equal to Three-Month LIBOR in effect for the then-current Distribution Period or, in the case of the first Distribution Period in the Series A Floating Rate Period, the most recent three-month LIBOR rate on which Three-Month LIBOR could have been determined in accordance with the first sentence of this paragraph had the distribution rate been a floating rate during the Series A Fixed Rate Period.
In the event that Three-Month LIBOR is less than zero, Three-Month LIBOR shall be deemed to be zero.
Notwithstanding the foregoing clauses (i), (ii) and (iii): 
(a) If the calculation agent determines on the relevant distribution determination date that LIBOR has been discontinued or is no longer viewed as an acceptable benchmark for securities like the Series A Preferred Shares (a “Series A LIBOR Event”), then the calculation agent will use a substitute or successor base rate that it has determined, in consultation with us, is the most comparable to LIBOR; provided that if the calculation agent determines there is an industry-accepted substitute or successor base rate, then the calculation agent shall use such substitute or successor base rate. 
(b) If the calculation agent has determined a substitute or successor base rate in accordance with the foregoing, the calculation agent, in consultation with us, may determine what business day convention to use, the definition of business day, the distribution determination date to be used and any other relevant methodology for calculating such substitute or successor base rate, including any adjustment factor needed to make such substitute or successor base rate comparable to LIBOR, or any adjustment to the applicable spread thereon, in a manner that is consistent with industry-accepted practices for such substitute or successor base rate. 
Notwithstanding the foregoing, if the calculation agent determines in its sole discretion that there is no alternative rate that is a substitute or successor base rate for LIBOR, the calculation agent may, in its sole discretion, or if the calculation agent fails to do so, the Company may, appoint an independent financial advisor (“IFA”) to determine an appropriate alternative rate and any adjustments, and the decision of the IFA will be binding on the Company, the calculation agent and the holders of Series A Preferred Shares. If a Series A LIBOR Event has occurred, but for any reason an alternative rate has not been determined, an IFA has not determined an appropriate alternative rate and adjustments or an IFA has not been appointed, Three-Month LIBOR for the next Distribution Period to which the determination date relates shall be Three-Month LIBOR as in effect for the then-current Distribution Period; provided, that if this sentence is applicable with respect to the first Distribution Period in the Series A Floating Rate Period, the interest rate, business day convention and manner of calculating interest applicable during the Series A Fixed Rate Period will remain in effect during the Series A Floating Rate Period. 
Priority Regarding Distributions
While any Series A Preferred Shares remain outstanding, unless the full cumulative distributions for all past Distribution Periods on all outstanding Series A Preferred Shares have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside:
(1) no distribution will be declared and paid or set aside for payment on any Junior Securities (as defined below) (other than a distribution payable solely in shares of Junior Securities);
(2) no shares of Junior Securities will be repurchased, redeemed, or otherwise acquired for consideration by the Company or any of its subsidiaries, directly or indirectly (other than as a result of a reclassification of Junior Securities for or into other Junior Securities, or the exchange for or conversion into Junior Securities, through the use of the proceeds of a substantially contemporaneous sale of other shares of Junior Securities or pursuant to a 

contractually binding requirement to buy Junior Securities pursuant to a binding agreement existing prior to the original issue date of the Series A Preferred Shares), nor will any monies be paid to or made available for a sinking fund for the redemption of any such securities by the Company or any of its subsidiaries; and
(3) no shares of Parity Securities will be repurchased, redeemed or otherwise acquired for consideration by the Company or any of its subsidiaries (other than pursuant to pro rata offers to purchase or exchange all, or a pro rata portion of Series A Preferred Shares and such Parity Securities or as a result of a reclassification of Parity Securities for or into other Parity Securities, or by conversion into or exchange for other Parity Securities or Junior Securities).
The foregoing limitations do not apply to (i) purchases or acquisitions of, or cash settlement in respect of, Junior Securities pursuant to any employee or director incentive or benefit plan or arrangement (including any of our employment, severance, or consulting agreements) of ours or of any of our subsidiaries and (ii) any distribution in connection with the implementation of a shareholder rights plan or the redemption or repurchase of any rights under such a plan, including with respect to any successor shareholder rights plan.
Accumulated distributions in arrears for any past Distribution Period may be declared by the board of directors and paid on any date fixed by the board of directors, whether or not a Distribution Payment Date, to holders of the Series A Preferred Shares on the record date for such payment, which may not be less than 10 days before such  distribution. To the extent a distribution period applicable to a class of Junior Securities or Parity Securities is shorter than the Distribution Period applicable to the Series A Preferred Shares (e.g., monthly rather than quarterly), the board of directors may declare and pay regular distributions with respect to such Junior Securities or Parity Securities so long as, at the time of declaration of such distribution, the board of directors expects to have sufficient funds to pay the full cumulative distributions in respect of the Series A Preferred Shares on the next Distribution Payment Date.
Subject to the next succeeding sentence, if all accumulated distributions in arrears on all outstanding Series A Preferred Shares and any Parity Securities have not been declared and paid, or sufficient funds for the payment thereof have not been set apart, payment of accumulated distributions in arrears will be made in order of their respective distribution payment dates, commencing with the earliest distribution payment date. If less than all distributions payable with respect to all Series A Preferred Shares and any Parity Securities are paid, any partial payment will be made pro rata with respect to the Series A Preferred Shares and any Parity Securities entitled to a distribution payment at such time in proportion to the aggregate amounts remaining due in respect of such Series A Preferred Shares and Parity Securities at such time. 
As used in this description of Series A Preferred Shares, (i) “Junior Securities” means our common shares and any other class or series of our Capital Stock (as defined below) over which the Series A Preferred Shares has preference or priority in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up, (ii) “Parity Securities” means any other class or series of our Capital Stock that ranks equally with the Series A Preferred Shares in the payment of distributions and in the distribution of assets on our liquidation, dissolution or winding up (including our Series B Preferred Shares and Series C Preferred Shares) and (iii) “Senior Securities” means any other class or series of our Capital Stock that has preference or priority over the Series A Preferred Shares in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up. 
Subject to the conditions described above, and not otherwise, distributions (payable in cash, shares, or otherwise), as may be determined by our board of directors, may be declared and paid on our common shares and any Junior Securities from time to time out of any funds legally available for such payment, and the holders of the Series A Preferred Shares will not be entitled to participate in those distributions. 
Liquidation Rights 
Upon our voluntary or involuntary liquidation, dissolution or winding up (“Liquidation”), the holders of the outstanding Series A Preferred Shares are entitled to be paid out of our assets legally available for distribution to our shareholders, before any distribution of assets is made to holders of common shares or any other Junior Securities, a liquidating distribution in the amount of a liquidation preference of $25.00 per share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of such liquidation distribution, whether or not declared, plus the sum of any declared and unpaid distributions for Distribution Periods prior to the Distribution Period in which the liquidation distribution is made and any declared and unpaid distributions for the then current Distribution Period in which the liquidation distribution is made to the date of such liquidation distribution. After payment of the full amount of the liquidating distributions to which they are entitled, the holders of Series A Preferred Shares will have no right or claim to any of our remaining assets. 
Distributions will be made only to the extent that our assets are available after satisfaction of all liabilities to creditors and subject to the rights of holders of any securities ranking senior to the Series A Preferred Shares. If, in the event of a Liquidation, we are unable to pay full liquidating distributions to the holders of all outstanding Series A Preferred Shares in accordance with the foregoing and to all Parity Securities in accordance with the terms 

thereof, then we will distribute our assets to those holders ratably in proportion to the liquidating distributions to which they would otherwise have received.
Our merger or consolidation with or into any other entity or by another entity with or into us or the sale, lease, exchange or other transfer of all or substantially all of our assets (for cash, securities or other consideration) will not be deemed to be a liquidation, dissolution or winding up. If we enter into any merger or consolidation transaction with or into any other entity and we are not the surviving entity in such transaction, the Series A Preferred Shares may be converted into shares of the surviving or successor entity or the direct or indirect parent of the surviving or successor entity having terms identical to the terms of the Series A Preferred Shares set forth in this description.
Because we are a holding company, our rights and the rights of our creditors and our shareholders, including the holders of the Series A Preferred Shares, to participate in the distribution of assets of any of our subsidiaries upon that subsidiary’s voluntary or involuntary liquidation, dissolution or winding up will be subject to the prior claims of that subsidiary’s creditors, except to the extent that we are a creditor with recognized claims against that subsidiary.
Conversion; Exchange and Preemptive Rights
The Series A Preferred Shares are not entitled to any preemptive rights or other rights to purchase or subscribe for our common shares or any other security, and are not convertible into or exchangeable for our common shares or any other security or property at the option of the holder.
Redemption
The Series A Preferred Shares are not subject to any mandatory redemption, sinking fund or other similar provisions. 
Holders of Series A Preferred Shares do not have the right to require the redemption or repurchase of the Series A Preferred Shares. 
Optional Redemption on or after September 15, 2024 
We may redeem the Series A Preferred Shares, in whole or in part, at our option, at any time or from time to time on or after September 15, 2024 (“Series A Optional Redemption”), at the redemption price equal to $25.00 per Series A Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. We may undertake multiple Series A Optional Redemptions. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
Optional Redemption upon a Rating Event
At any time within 120 days after the conclusion of any review or appeal process instituted by us following the occurrence of a Series A Rating Event (as defined below), we may, at our option, redeem the Series A Preferred Shares in whole, but not in part, prior to September 15, 2024, at a redemption price per Series A Preferred Share equal to $25.50 (102% of the liquidation preference of $25.00), plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
“Series A Rating Event” means a change by any rating agency to the criteria employed by such rating agency as of the date of original issuance of the Series A Preferred Shares for purposes of assigning ratings to securities with features similar to the Series A Preferred Shares, which change results in (i) any shortening of the length of time for which the current criteria are scheduled to be in effect with respect to the Series A Preferred Shares, or (ii) a lower equity credit being given to the Series A Preferred Shares than the equity credit that would have been assigned to the Series A Preferred Shares by such rating agency pursuant to the current criteria. 
Optional Redemption upon a Change of Control
If a Change of Control (as defined below) occurs, we may, at our option, redeem the Series A Preferred Shares, in whole but not in part, prior to September 15, 2024 and within 60 days after the occurrence of such Change of Control, at a price of $25.25 per Series A Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
If (i) a Change of Control occurs (whether before, on or after September 15, 2024) and (ii) we do not give notice prior to the 31st day following the Change of Control to redeem all the outstanding Series A Preferred Shares, the distribution rate per annum on the Series A Preferred Shares will increase by 5.00%, beginning on the 31st day following such Change of Control.

 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise.
“Capital Stock” means (1) in the case of a corporation, corporate stock; (2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (3) in the case of a partnership, limited liability company or business trust, partnership, membership or beneficial interests (whether general or limited) or shares in the capital of a company; and (4) any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing person (but excluding from the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock).
“Change of Control” means the occurrence of the following:
(1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Holders (as defined below), is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of shares representing more than 50.0% of the voting power of the Company’s Voting Stock (as defined below); or
(2) (a) all or substantially all the assets of the Company and the Restricted Subsidiaries, taken as a whole, are sold or otherwise transferred to any person other than a Wholly-Owned Restricted Subsidiary (as defined below) or one or more Permitted Holders or (b) the Company consolidates, amalgamates or merges with or into another person or any person consolidates, amalgamates or merges with or into the Company, in either case under this clause (2), in one transaction or a series of related transactions in which immediately after the consummation thereof persons beneficially owning (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) Voting Stock representing in the aggregate a majority of the total voting power of the Voting Stock of the Company immediately prior to such consummation do not beneficially own (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) Voting Stock representing a majority of the total voting power of the Voting Stock of the Company, or the applicable surviving or transferee person; provided that this clause shall not apply (i) in the case where immediately after the consummation of the transactions Permitted Holders, directly or indirectly, beneficially own Voting Stock representing in the aggregate a majority of the total voting power of the Company, or the applicable surviving or transferee person, or (ii) to any consolidation, amalgamation or merger of the Company with or into (x) a corporation, limited liability company or partnership or (y) a wholly-owned subsidiary of a corporation, limited liability company or partnership that, in either case, immediately following the transaction or series of transactions, has no person or group (other than Permitted Holders), which beneficially owns Voting Stock representing 50.0% or more of the voting power of the total outstanding Voting Stock of such entity.
For purposes of this definition, any direct or indirect holding company of the Company shall not itself be considered a “person” or “group” for purposes of clause (1) above; provided that no “person” or “group” (other than the Permitted Holders) beneficially owns, directly or indirectly, more than 50.0% of the total voting power of the Voting Stock of such holding company.
“Control Investment Affiliate” means, as to any person, any other person that (a) directly or indirectly, is in control of, is controlled by, or is under common control with, such person and (b) exists primarily for the purpose of making equity or debt investments in one or more companies. For purposes of this definition, “control” of a person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such person, whether by contract or otherwise.
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder.
“Fortress” means Fortress Investment Group LLC.
“Management Group” means at any time, the Chairman of our board of directors, any President, any Executive Vice President, any Managing Director, any Treasurer and any Secretary or other executive officer of the Company or any of our subsidiaries at such time.
“Permitted Holders” means, collectively, Fortress, its Affiliates and the Management Group; provided that the definition of “Permitted Holders” shall not include any Control Investment Affiliate whose primary purpose is the operation of an ongoing business (excluding any business whose primary purpose is the investment of capital or assets). 
“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity.

“Restricted Subsidiary” means any “Restricted Subsidiary” under the Company’s senior unsecured notes. 
“Voting Stock” of any person as of any date means the Capital Stock of such person that is at the time entitled to vote in the election of the board of directors of such person.
“Wholly-Owned Restricted Subsidiary” means any wholly-owned subsidiary that is a Restricted Subsidiary.
The Change of Control redemption feature of the Series A Preferred Shares may, in certain circumstances, make more difficult or discourage a sale or takeover of our limited liability company or a member of the Company and, thus, the removal of incumbent management. We have no present intention to engage in a transaction involving a Change of Control, although it is possible that we could decide to do so in the future.
Optional Redemption upon a Tax Redemption Event
If a Series A Tax Redemption Event (as defined below) occurs, we may, at our option, redeem the Series A Preferred Shares, in whole but not in part, prior to September 15, 2024 and within 60 days after the occurrence of such Series A Tax Redemption Event, at a price of $25.25 per Series A Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
“Series A Tax Redemption Event” means, after the date the Series A Preferred Shares are first issued, due to (a) an amendment to, or a change in official interpretation of, the U.S. Internal Revenue Code of 1986, as amended (the “Code”), Treasury Regulations promulgated thereunder, or administrative guidance or (b) an administrative or judicial determination, (i) we are advised by nationally recognized counsel or a “Big Four” accounting firm that we will be treated as an association taxable as a corporation for U.S. Federal income tax purposes or otherwise subject to U.S. Federal income tax (other than any tax imposed pursuant to Section 6225 of the Code, as amended by the Bipartisan Budget Act of 2015), or (ii) we file an IRS Form 8832 (or successor form) electing that we be treated as an association taxable as a corporation for U.S. Federal income tax purposes.
Redemption Procedures 
If we elect to redeem any Series A Preferred Shares, we will provide notice to the holders of record of the Series A Preferred Shares to be redeemed, not less than 30 days and not more than 60 days before the date fixed for redemption thereof (provided, however, that if the Series A Preferred Shares are held in book-entry form through a Securities Depositary, we may give this notice in any manner permitted by such Securities Depositary). Any notice given as provided in this paragraph will be conclusively presumed to have been duly given, whether or not the holder receives such notice, and any defect in such notice or in the provision of such notice to any holder of Series A Preferred Shares designated for redemption will not affect the redemption of any other Series A Preferred Shares. Each notice of redemption shall state:
• the redemption date; 
• the redemption price; 
• if fewer than all Series A Preferred Shares are to be redeemed, the number of Series A Preferred Shares to be redeemed; and 
• the manner in which holders of Series A Preferred Shares called for redemption may obtain payment of the redemption price in respect of those shares. 
If notice of redemption of any Series A Preferred Shares has been given and if the funds necessary for such redemption have been deposited by us in trust with a bank or a Securities Depositary for the benefit of the holders of any Series A Preferred Shares so called for redemption, then from and after the redemption date such Series A Preferred Shares will no longer be deemed outstanding for any purpose, all distributions with respect to such Series A Preferred Shares shall cease to accrue after the redemption date and all rights of the holders of such shares will terminate, except the right to receive the redemption price, without interest. 
In the case of any redemption of only part of the Series A Preferred Shares at the time outstanding, the Series A Preferred Shares to be redeemed will be selected either pro rata or by lot. Subject to the provisions set forth in this description, the board of directors will have the full power and authority to prescribe the terms and conditions upon which Series A Preferred Shares may be redeemed from time to time. 
Voting Rights 
Owners of Series A Preferred Shares do not have any voting rights, except as set forth below or as otherwise required by applicable law. To the extent that owners of Series A Preferred Shares are entitled to vote, each holder of Series A Preferred Shares will have one vote per share, except that when shares of any class or series of Parity Securities have the right to vote with the Series A Preferred Shares as a single class on any matter, the Series A Preferred Shares and the shares of each such Parity Securities will have one vote for each $25.00 of liquidation preference (for the avoidance of doubt, excluding accumulated distributions). 

Whenever dividends on any shares of the Series A Preferred Shares are in arrears for six or more quarterly Distribution Periods, whether or not consecutive, the number of directors then constituting our board of directors will be automatically increased by two (if not already increased by two by reason of the election of directors by the holders of any Other Voting Preferred Shares (as defined below)). The holders of the Series A Preferred Shares, voting together as a single class with the holders of any series of Parity Securities then outstanding upon which like voting rights have been conferred and are exercisable (any such series, the “Other Voting Preferred Shares”), will be entitled to vote, by the affirmative vote of a majority of the votes entitled to be cast, for the election of those two additional directors at a special meeting of the holders of the Series A Preferred Shares and such Other Voting Preferred Shares and at each subsequent annual meeting of the holders of our common shares at which such directors are up for reelection; provided that when all distributions accumulated on the Series A Preferred Shares for all past Distribution Periods and the then current Distribution Period shall have been fully paid, the right of holders of the Series A Preferred Shares to elect any directors will cease and, unless there are any Other Voting Preferred Shares entitled to vote for the election of directors, the term of office of those two directors will forthwith terminate, any directors elected by holders of the Series A Preferred Shares shall immediately resign and the number of directors constituting the board of directors shall be reduced accordingly. However, the right of the holders of the Series A Preferred Shares and any Other Voting Preferred Shares to elect two additional directors will again vest if and whenever six additional quarterly distributions have not been declared and paid, as described above. In no event shall the holders of the Series A Preferred Shares be entitled pursuant to these voting rights to elect a director that would cause us to fail to satisfy a requirement relating to director independence of any national securities exchange or quotation system on which any class or series of our Capital Stock is listed or quoted. For the avoidance of doubt, in no event shall the total number of directors elected by holders of the Series A Preferred Shares and any Other Voting Preferred Shares exceed two. 
If, at any time when the voting rights conferred upon the Series A Preferred Shares (as described above) are exercisable, any vacancy in the office of a director elected pursuant to the procedures described above shall occur, then such vacancy may be filled only by the remaining director or by the affirmative vote of a majority of the votes entitled to be cast by the holders of record of the outstanding Series A Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a special meeting of such holders. Any director elected or appointed pursuant to the procedures described above may be removed at any time, with or without cause, only by the affirmative vote of holders of the outstanding Series A Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a meeting of shareholders, such removal to be effected by the affirmative vote of a majority of the votes entitled to be cast by the holders of the outstanding Series A Preferred Shares and Other Voting Preferred Shares, and may not be removed by the holders of our common shares. 
While any Series A Preferred Shares remain outstanding, we will not, without the affirmative vote or consent of holders of at least 662/3% in voting power of the Series A Preferred Shares and all Other Voting Preferred Shares, acting as a single class, (i) authorize, create or issue any Senior Securities or reclassify any authorized Capital Stock into any Senior Securities or issue any obligation or security convertible into or evidencing the right to purchase any Senior Securities or (ii) amend, alter or repeal any provision of the Operating Agreement, including by merger, consolidation or otherwise, so as to adversely affect the powers, preferences or special rights of the Series A Preferred Shares; provided that in the case of clause (ii) above, if such amendment affects materially and adversely the rights, designations, preferences, powers and duties of one or more but not all of the classes or series of the Other Voting Preferred Shares (including the Series A Preferred Shares for this purpose), only the consent of the holders of at least 662/3% in voting power of the outstanding shares of the classes or series so affected, voting as a class, is required in lieu of (or, if such consent is required by law, in addition to) the consent of the holders of 662/3% of the Other Voting Preferred Shares (including the Series A Preferred Shares for this purpose) as a class. However, we may create additional series or classes of Parity Securities and Junior Securities and issue additional classes or series of Parity Securities and Junior Securities without notice to or the consent of any holder of the Series A Preferred Shares; provided, however, that, in the case of Parity Securities, the full cumulative distributions for all past Distribution Periods on all outstanding Series A Preferred Shares shall have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside.
Notwithstanding the foregoing, none of the following will be deemed to affect the powers, preferences or special rights of the Series A Preferred Shares:
• any increase in the amount of authorized common shares or authorized preferred shares, or any increase or decrease in the number of shares of any series of preferred stock, or the authorization, creation and issuance of other classes or series of Capital Stock, in each case ranking on parity with or junior to the Series A Preferred Shares as to distributions or distribution of assets upon our liquidation, dissolution or winding up; 
• a merger or consolidation of us with or into another entity in which the Series A Preferred Shares remain outstanding with identical terms as existing immediately prior to such merger or consolidation; and 
• a merger or consolidation of us with or into another entity in which the Series A Preferred Shares are converted into or exchanged for preference securities of the surviving entity or any entity, directly or indirectly, controlling such surviving entity and such new preference securities have terms identical (other than the identity of the issuer) to the terms of the Series A Preferred Shares.

The foregoing voting rights of the holders of Series A Preferred Shares shall not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required shall be effected, all outstanding Series A Preferred Shares shall have been redeemed or called for redemption upon proper notice and we shall have set aside sufficient funds for the benefit of holders of Series A Preferred Shares to effect the redemption. 
Forum Selection
Each person that holds or has held a Series A Preferred Share and each person that holds or has held any beneficial interest in a Series A Preferred Share (whether through a broker, dealer, bank, trust company or clearing corporation or an agent of any of the foregoing or otherwise), to the fullest extent permitted by law, (i) irrevocably agrees that any claims, suits, actions or proceedings against us, or any director, officer, employee, control person, underwriter or agent of the Company or its affiliates, asserted under United States federal securities laws, otherwise arising under such laws, or that could have been asserted as a claim arising under such laws, shall be exclusively brought in the federal district courts of the United States of America (except, and only to the extent, that any such claims, actions or proceedings are of a type for which a member may not waive its right to maintain a legal action or proceeding in the courts of the State of Delaware with respect to matters relating to the organization or internal affairs of the Company as set forth under Section 18-109(d) of the Delaware Limited Liability Company Act); (ii) irrevocably submits to the exclusive jurisdiction of such courts in connection with any such claim, suit, action or proceeding; and (iii) irrevocably agrees not to, and waives any right to, assert in any such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of such courts or any other court to which proceedings in such courts may be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum or (C) the venue of such claim, suit, action or proceeding is improper.
Book-Entry System
All Series A Preferred Shares are represented by a single certificate issued to the Securities Depositary, and registered in the name of the Securities Depositary or its nominee, and no holder of the Series A Preferred Shares is entitled to receive a certificate evidencing Series A Preferred Shares unless otherwise required by law or the Securities Depositary gives notice of its intention to resign or is no longer eligible to act as such and we have not selected a substitute Securities Depositary within 60 calendar days thereafter. Payments and communications made by us to holders of the Series A Preferred Shares will be duly made by making payments to, and communicating with, the Securities Depositary. Accordingly, unless certificates are available to holders of the Series A Preferred Shares, each holder of Series A Preferred Shares must rely on (i) the procedures of the Securities Depositary and its participants to receive distributions, any redemption price, liquidation preference and notices, and to direct the exercise of any voting or nominating rights, with respect to such Series A Preferred Shares and (ii) the records of the Securities Depositary and its participants to evidence its ownership of such Series A Preferred Shares. 
So long as the Securities Depositary (or its nominee) is the sole holder of the Series A Preferred Shares, no beneficial holder of the Series A Preferred Shares will be deemed to be a holder of Series A Preferred Shares. The Depository Trust Company, the initial Securities Depositary, is a New York-chartered limited purpose trust company that performs services for its participants, some of whom (and/or their representatives) own The Depository Trust Company. The Securities Depositary maintains lists of its participants and will maintain the positions (i.e., ownership interests) held by its participants in the Series A Preferred Shares, whether as a holder of the Series A Preferred Shares for its own account or as a nominee for another holder of the Series A Preferred Shares.
Series B Preferred Shares
General 
The Operating Agreement authorizes the Company to issue up to 200,000,000 preferred shares in one or more series, and the Company’s board of directors is authorized to fix the number of shares of each series and determine the rights, designations, preferences, powers and duties of any such series. The “8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares” are designated as one series of our authorized preferred shares, consisting of 4,600,000 Series B Preferred Shares.
The Series B Preferred Shares represent perpetual equity interests in us and, unlike our indebtedness, do not give rise to a claim for payment of a principal amount at a particular date. As such, the Series B Preferred Shares rank junior to all of our current and future indebtedness and other liabilities with respect to assets available to satisfy claims against us. The Series B Preferred Shares have a fixed liquidation preference of $25.00 per Series B Preferred Share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of payment, whether or not declared; provided that the rights of the holders of Series B Preferred Shares to receive the liquidation preference will be subject to the proportional rights of holders of Parity Securities (as defined below) and to the other matters described under “-Liquidation Rights”.
All of the Series B Preferred Shares are represented by a single certificate issued to the Securities Depositary and registered in the name of its nominee. So long as a Securities Depositary has been appointed and is serving, no person acquiring Series B Preferred Shares will be entitled to receive a certificate representing such Series B 

Preferred Shares unless applicable law otherwise requires or the Securities Depositary resigns or is no longer eligible to act as such and a successor is not appointed. See “-Book-Entry System”.
Each holder of Series B Preferred Shares is admitted as a member of our limited liability company and deemed to have agreed to be bound by the terms of the Operating Agreement. Pursuant to the Operating Agreement, each holder of Series B Preferred Shares grants to certain of our officers (and, if appointed, a liquidator) a power of attorney to, among other things, execute and file documents required for our qualification, continuance or dissolution. The power of attorney also grants certain of our officers the authority to make certain amendments to, and to make consents and waivers under and in accordance with, the Operating Agreement. 
Our Series B Preferred Shares trade on the NYSE under the symbol “FTAI PR B”.
Ranking 
With respect to the payment of distributions and rights (including redemption rights) upon our liquidation, dissolution or winding up, the Series B Preferred Shares rank (i) senior and prior to our common shares and any class or series of preferred shares that by its terms is designated as ranking junior to the Series B Preferred Shares, (ii) pari passu with any class or series of preferred shares that by its terms is designated as ranking equal to the Series B Preferred Shares or does not state it is junior or senior to the Series B Preferred Shares (including our Series A Preferred Shares and Series C Preferred Shares), (iii) junior to any class or series of preferred shares that is expressly designated as ranking senior to the Series B Preferred Shares (subject to receipt of any requisite consents prior to issuance) and (iv) effectively junior to all of our existing and future indebtedness (including indebtedness convertible into our common shares or preferred shares) and other liabilities and to all liabilities and any preferred equity of our existing subsidiaries and any future subsidiaries.
The Series B Preferred Shares are not convertible into, or exchangeable for, shares of any other class or series of our Capital Stock or other securities and will not be subject to any sinking fund or other obligation to redeem or repurchase the Series B Preferred Shares. The Series B Preferred Shares are not secured, are not guaranteed by us or any of our affiliates and are not subject to any other arrangement that legally or economically enhances the ranking of the Series B Preferred Shares. 
Distributions
Holders of the Series B Preferred Shares are entitled to receive, only when, as, and if declared by our board of directors, out of funds legally available for such purpose, cumulative cash distributions based on the stated liquidation preference of $25.00 per Series B Preferred Share at a rate equal to (i) from, and including, the original issue date of the Series B Preferred Shares to, but excluding, December 15, 2024 (the “Series B Fixed Rate Period”), 8.00% per annum, and (ii) beginning December 15, 2024 (the “Series B Floating Rate Period”), Three-Month LIBOR (as defined below) plus a spread of 644.7 basis points per annum. A “Distribution Period” means the period from, and including, each Distribution Payment Date to, but excluding, the next succeeding Distribution Payment Date, except for the initial Distribution Period, which is the period from, and including, the original issue date of the Series B Preferred Shares to, but excluding, the next succeeding Distribution Payment Date.
When, as, and if declared by our board of directors, we pay cash distributions on the Series B Preferred Shares quarterly, in arrears, on each Distribution Payment Date, beginning on March 15, 2020. We pay cash distributions to the holders of record of Series B Preferred Shares as they appear on our share register on the applicable record date, which for any Distribution Payment Date shall be the 1st calendar day of the month of such Distribution Payment Date or such other record date fixed by our board of directors as the record date for such Distribution Payment Date that is not more than 60 nor less than 10 days prior to such Distribution Payment Date. 
So long as the Series B Preferred Shares are held of record by the nominee of the Securities Depositary, declared distributions will be paid to the Securities Depositary in same-day funds on each Distribution Payment Date. The Securities Depositary will credit accounts of its participants in accordance with the Securities Depositary’s normal procedures. The participants will be responsible for holding or disbursing such payments to beneficial owners of the Series B Preferred Shares in accordance with the instructions of such beneficial owners. 
If any Distribution Payment Date on or prior to December 15, 2024 is a day that is not a business day (as defined below), then declared distributions with respect to that Distribution Payment Date will instead be paid on the immediately succeeding business day, without interest or other payment in respect of such delayed payment. If any Distribution Payment Date after December 15, 2024 is a day that is not a business day, then the Distribution Payment Date will be the immediately succeeding business day, and distributions will accrue to the Distribution Payment Date. A “business day” for the Series B Fixed Rate Period means any weekday in New York, New York that is not a day on which banking institutions in that city are authorized or required by law, regulation, or executive order to be closed. A “business day” for the Series B Floating Rate Period means any weekday in New York, New York that is not a day on which banking institutions in that city are authorized or required by law, regulation, or executive order to be closed, and additionally, is a London banking day (as defined below). 
We calculate distributions on the Series B Preferred Shares for the Series B Fixed Rate Period on the basis of a 360-day year consisting of twelve 30-day months. We calculate distributions on the Series B Preferred Shares for the 

Series B Floating Rate Period on the basis of the actual number of days in a Distribution Period and a 360-day year. Dollar amounts resulting from that calculation are rounded to the nearest cent, with one-half cent being rounded upward. Distributions on the Series B Preferred Shares will cease to accrue after the redemption date, as described below under “-Redemption”, unless we default in the payment of the redemption price of the Series B Preferred Shares called for redemption. 
Distributions on the Series B Preferred Shares are not mandatory. However, distributions on the Series B Preferred Shares accrue from the original issue date, or the most recent Distribution Payment Date on which all accrued distributions have been paid, as applicable, whether or not we have earnings, whether or not there are funds legally available for the payment of those distributions and whether or not those distributions are declared. No interest, or sum in lieu of interest, is payable in respect of any distribution payment or payments on the Series B Preferred Shares which may be in arrears, and holders of the Series B Preferred Shares are not entitled to any distribution, whether payable in cash, property, or shares, in excess of full cumulative distributions described above.
If in the future we issue additional shares of the Series B Preferred Shares, distributions on those additional shares will accrue from the most recent Distribution Payment Date at the then-applicable distribution rate.
The distribution rate for each Distribution Period in the Series B Floating Rate Period will be determined by the calculation agent using Three-Month LIBOR as in effect on the second London banking day prior to the beginning of the Distribution Period, which date is referred to as the “distribution determination date” for the relevant Distribution Period. The calculation agent then will add Three-Month LIBOR as determined on the distribution determination date and the spread of 644.7 basis points per annum, and that sum will be the distribution rate for the applicable Distribution Period. Once the distribution rate for the Series B Preferred Shares is determined, the calculation agent will deliver that information to us and the transfer agent for the Series B Preferred Shares. Absent manifest error, the calculation agent’s determination of the distribution rate for a Distribution Period for the Series B Preferred Shares will be final. A “London banking day” is any day on which commercial banks are open for dealings in deposits in U.S. dollars in the London interbank market. 
As used in this description of Series B Preferred Shares, the term “Three-Month LIBOR” means the London interbank offered rate for deposits in U.S. dollars for a three month period (the “three-month LIBOR rate”), as that rate is displayed on Bloomberg on page BBAM1 (or any successor or replacement page) at approximately 11:00 a.m., London time, on the relevant distribution determination date, provided that:
(i) If no offered rate is displayed on Bloomberg on page BBAM1 (or any successor or replacement page) on the relevant distribution determination date at approximately 11:00 a.m., London time, then the calculation agent, in consultation with us, will select four major banks in the London interbank market and will request each of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London interbank market, on that date and at that time. If at least two quotations are provided, Three-Month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest 0.00001 of 1%) of the quotations provided. 
(ii) Otherwise, the calculation agent in consultation with us will select three major banks in New York City and will request each of them to provide a quotation of the rate offered by it at approximately 11:00 a.m., New York City time, on the distribution determination date for loans in U.S. dollars to leading European banks for a three month period for the applicable Distribution Period in an amount of at least $1,000,000. If three quotations are provided, Three-Month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest 0.00001 of 1%) of the quotations provided. 
(iii) Otherwise, Three-Month LIBOR for the next Distribution Period will be equal to Three-Month LIBOR in effect for the then-current Distribution Period or, in the case of the first Distribution Period in the Series B Floating Rate Period, the most recent three-month LIBOR rate on which Three-Month LIBOR could have been determined in accordance with the first sentence of this paragraph had the distribution rate been a floating rate during the Series B Fixed Rate Period.
In the event that Three-Month LIBOR is less than zero, Three-Month LIBOR shall be deemed to be zero.
Notwithstanding the foregoing clauses (i), (ii) and (iii): 
(a) If the calculation agent determines on the relevant distribution determination date that LIBOR has been discontinued or is no longer viewed as an acceptable benchmark for securities like the Series B Preferred Shares (a “Series B LIBOR Event”), then the calculation agent will use a substitute or successor base rate that it has determined, in consultation with us, is the most comparable to LIBOR; provided that if the calculation agent determines there is an industry-accepted substitute or successor base rate, then the calculation agent shall use such substitute or successor base rate. 
(b) If the calculation agent has determined a substitute or successor base rate in accordance with the foregoing, the calculation agent, in consultation with us, may determine what business day convention to use, the definition of business day, the distribution determination date to be used and any other relevant methodology for calculating such substitute or successor base rate, including any adjustment factor needed to make such substitute or 

successor base rate comparable to LIBOR, or any adjustment to the applicable spread thereon, in a manner that is consistent with industry-accepted practices for such substitute or successor base rate. 
Notwithstanding the foregoing, if the calculation agent determines in its sole discretion that there is no alternative rate that is a substitute or successor base rate for LIBOR, the calculation agent may, in its sole discretion, or if the calculation agent fails to do so, the Company may, appoint an IFA to determine an appropriate alternative rate and any adjustments, and the decision of the IFA will be binding on the Company, the calculation agent and the holders of Series B Preferred Shares. If a Series B LIBOR Event has occurred, but for any reason an alternative rate has not been determined, an IFA has not determined an appropriate alternative rate and adjustments or an IFA has not been appointed, Three-Month LIBOR for the next Distribution Period to which the determination date relates shall be Three-Month LIBOR as in effect for the then-current Distribution Period; provided, that if this sentence is applicable with respect to the first Distribution Period in the Series B Floating Rate Period, the interest rate, business day convention and manner of calculating interest applicable during the Series B Fixed Rate Period will remain in effect during the Series B Floating Rate Period. 
Priority Regarding Distributions
While any Series B Preferred Shares remain outstanding, unless the full cumulative distributions for all past Distribution Periods on all outstanding Series B Preferred Shares have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside:
(1) no distribution will be declared and paid or set aside for payment on any Junior Securities (as defined below) (other than a distribution payable solely in shares of Junior Securities);
(2) no shares of Junior Securities will be repurchased, redeemed, or otherwise acquired for consideration by the Company or any of its subsidiaries, directly or indirectly (other than as a result of a reclassification of Junior Securities for or into other Junior Securities, or the exchange for or conversion into Junior Securities, through the use of the proceeds of a substantially contemporaneous sale of other shares of Junior Securities or pursuant to a contractually binding requirement to buy Junior Securities pursuant to a binding agreement existing prior to the original issue date of the Series B Preferred Shares), nor will any monies be paid to or made available for a sinking fund for the redemption of any such securities by the Company or any of its subsidiaries; and 
(3) no shares of Parity Securities will be repurchased, redeemed or otherwise acquired for consideration by the Company or any of its subsidiaries (other than pursuant to pro rata offers to purchase or exchange all, or a pro rata portion of Series B Preferred Shares and such Parity Securities or as a result of a reclassification of Parity Securities for or into other Parity Securities, or by conversion into or exchange for other Parity Securities or Junior Securities).
The foregoing limitations do not apply to (i) purchases or acquisitions of, or cash settlement in respect of, Junior Securities pursuant to any employee or director incentive or benefit plan or arrangement (including any of our employment, severance, or consulting agreements) of ours or of any of our subsidiaries and (ii) any distribution in connection with the implementation of a shareholder rights plan or the redemption or repurchase of any rights under such a plan, including with respect to any successor shareholder rights plan.
Accumulated distributions in arrears for any past Distribution Period may be declared by the board of directors and paid on any date fixed by the board of directors, whether or not a Distribution Payment Date, to holders of the Series B Preferred Shares on the record date for such payment, which may not be less than 10 days before such distribution. To the extent a distribution period applicable to a class of Junior Securities or Parity Securities is shorter than the Distribution Period applicable to the Series B Preferred Shares (e.g., monthly rather than quarterly), the board of directors may declare and pay regular distributions with respect to such Junior Securities or Parity Securities so long as, at the time of declaration of such distribution, the board of directors expects to have sufficient funds to pay the full cumulative distributions in respect of the Series B Preferred Shares on the next Distribution Payment Date.
Subject to the next succeeding sentence, if all accumulated distributions in arrears on all outstanding Series B Preferred Shares and any Parity Securities have not been declared and paid, or sufficient funds for the payment thereof have not been set apart, payment of accumulated distributions in arrears will be made in order of their respective distribution payment dates, commencing with the earliest distribution payment date. If less than all distributions payable with respect to all Series B Preferred Shares and any Parity Securities are paid, any partial payment will be made pro rata with respect to the Series B Preferred Shares and any Parity Securities entitled to a distribution payment at such time in proportion to the aggregate amounts remaining due in respect of such Series B Preferred Shares and Parity Securities at such time. 
As used in this description of Series B Preferred Shares, (i) “Junior Securities” means our common shares and any other class or series of our Capital Stock over which the Series B Preferred Shares has preference or priority in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up, (ii) “Parity Securities” means any other class or series of our Capital Stock that ranks equally with the Series B Preferred Shares in the payment of distributions and in the distribution of assets on our liquidation, dissolution or winding up 

(including our Series A Preferred Shares and Series C Preferred Shares) and (iii) “Senior Securities” means any other class or series of our Capital Stock that has preference or priority over the Series B Preferred Shares in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up. 
Subject to the conditions described above, and not otherwise, distributions (payable in cash, shares, or otherwise), as may be determined by our board of directors, may be declared and paid on our common shares and any Junior Securities from time to time out of any funds legally available for such payment, and the holders of the Series B Preferred Shares will not be entitled to participate in those distributions. 
Liquidation Rights 
Upon our voluntary or involuntary Liquidation, the holders of the outstanding Series B Preferred Shares are entitled to be paid out of our assets legally available for distribution to our shareholders, before any distribution of assets is made to holders of common shares or any other Junior Securities, a liquidating distribution in the amount of a liquidation preference of $25.00 per share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of such liquidation distribution, whether or not declared, plus the sum of any declared and unpaid distributions for Distribution Periods prior to the Distribution Period in which the liquidation distribution is made and any declared and unpaid distributions for the then current Distribution Period in which the liquidation distribution is made to the date of such liquidation distribution. After payment of the full amount of the liquidating distributions to which they are entitled, the holders of Series B Preferred Shares will have no right or claim to any of our remaining assets. 
Distributions will be made only to the extent that our assets are available after satisfaction of all liabilities to creditors and subject to the rights of holders of any securities ranking senior to the Series B Preferred Shares. If, in the event of a Liquidation, we are unable to pay full liquidating distributions to the holders of all outstanding Series B Preferred Shares in accordance with the foregoing and to all Parity Securities in accordance with the terms thereof, then we will distribute our assets to those holders ratably in proportion to the liquidating distributions to which they would otherwise have received.
Our merger or consolidation with or into any other entity or by another entity with or into us or the sale, lease, exchange or other transfer of all or substantially all of our assets (for cash, securities or other consideration) will not be deemed to be a liquidation, dissolution or winding up. If we enter into any merger or consolidation transaction with or into any other entity and we are not the surviving entity in such transaction, the Series B Preferred Shares may be converted into shares of the surviving or successor entity or the direct or indirect parent of the surviving or successor entity having terms identical to the terms of the Series B Preferred Shares set forth in this description.
Because we are a holding company, our rights and the rights of our creditors and our shareholders, including the holders of the Series B Preferred Shares, to participate in the distribution of assets of any of our subsidiaries upon that subsidiary’s voluntary or involuntary liquidation, dissolution or winding up will be subject to the prior claims of that subsidiary’s creditors, except to the extent that we are a creditor with recognized claims against that subsidiary.
Conversion; Exchange and Preemptive Rights
The Series B Preferred Shares are not entitled to any preemptive rights or other rights to purchase or subscribe for our common shares or any other security, and are not convertible into or exchangeable for our common shares or any other security or property at the option of the holder.
Redemption
The Series B Preferred Shares are not subject to any mandatory redemption, sinking fund or other similar provisions. 
Holders of Series B Preferred Shares do not have the right to require the redemption or repurchase of the Series B Preferred Shares. 
Optional Redemption on or after December 15, 2024 
We may redeem the Series B Preferred Shares, in whole or in part, at our option, at any time or from time to time on or after December 15, 2024 (“Series B Optional Redemption”), at the redemption price equal to $25.00 per Series B Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. We may undertake multiple Series B Optional Redemptions. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
Optional Redemption upon a Rating Event
At any time within 120 days after the conclusion of any review or appeal process instituted by us following the occurrence of a Series B Rating Event (as defined below), we may, at our option, redeem the Series B Preferred Shares in whole, but not in part, prior to December 15, 2024, at a redemption price per Series B Preferred Share 

equal to $25.50 (102% of the liquidation preference of $25.00), plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
“Series B Rating Event” means a change by any rating agency to the criteria employed by such rating agency as of the date of original issuance of the Series B Preferred Shares for purposes of assigning ratings to securities with features similar to the Series B Preferred Shares, which change results in (i) any shortening of the length of time for which the current criteria are scheduled to be in effect with respect to the Series B Preferred Shares, or (ii) a lower equity credit being given to the Series B Preferred Shares than the equity credit that would have been assigned to the Series B Preferred Shares by such rating agency pursuant to the current criteria. 
Optional Redemption upon a Change of Control
If a Change of Control occurs, we may, at our option, redeem the Series B Preferred Shares, in whole but not in part, prior to December 15, 2024 and within 60 days after the occurrence of such Change of Control, at a price of $25.25 per Series B Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
If (i) a Change of Control occurs (whether before, on or after December 15, 2024) and (ii) we do not give notice prior to the 31st day following the Change of Control to redeem all the outstanding Series B Preferred Shares, the distribution rate per annum on the Series B Preferred Shares will increase by 5.00%, beginning on the 31st day following such Change of Control.
The Change of Control redemption feature of the Series B Preferred Shares may, in certain circumstances, make more difficult or discourage a sale or takeover of our limited liability company or a member of the Company and, thus, the removal of incumbent management. We have no present intention to engage in a transaction involving a Change of Control, although it is possible that we could decide to do so in the future.
Optional Redemption upon a Tax Redemption Event
If a Series B Tax Redemption Event (as defined below) occurs, we may, at our option, redeem the Series B Preferred Shares, in whole but not in part, prior to December 15, 2024, and within 60 days after the occurrence of such Series B Tax Redemption Event, at a price of $25.25 per Series B Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
“Series B Tax Redemption Event” means, after the date the Series B Preferred Shares are first issued, due to (a) an amendment to, or a change in official interpretation of the Code, Treasury Regulations promulgated thereunder, or administrative guidance or (b) an administrative or judicial determination, (i) we are advised by nationally recognized counsel or a “Big Four” accounting firm that we will be treated as an association taxable as a corporation for U.S. Federal income tax purposes or otherwise subject to U.S. Federal income tax (other than any tax imposed pursuant to Section 6225 of the Code, as amended by the Bipartisan Budget Act of 2015), or (ii) we file an IRS Form 8832 (or successor form) electing that we be treated as an association taxable as a corporation for U.S. Federal income tax purposes.
Redemption Procedures 
If we elect to redeem any Series B Preferred Shares, we will provide notice to the holders of record of the Series B Preferred Shares to be redeemed, not less than 30 days and not more than 60 days before the date fixed for redemption thereof (provided, however, that if the Series B Preferred Shares are held in book-entry form through a Securities Depositary, we may give this notice in any manner permitted by such Securities Depositary). Any notice given as provided in this paragraph will be conclusively presumed to have been duly given, whether or not the holder receives such notice, and any defect in such notice or in the provision of such notice to any holder of Series B Preferred Shares designated for redemption will not affect the redemption of any other Series B Preferred Shares. Each notice of redemption shall state:
• the redemption date; 
• the redemption price; 
• if fewer than all Series B Preferred Shares are to be redeemed, the number of Series B Preferred Shares to be redeemed; and 
• the manner in which holders of Series B Preferred Shares called for redemption may obtain payment of the redemption price in respect of those shares. 

If notice of redemption of any Series B Preferred Shares has been given and if the funds necessary for such redemption have been deposited by us in trust with a bank or a Securities Depositary for the benefit of the holders of any Series B Preferred Shares so called for redemption, then from and after the redemption date such Series B Preferred Shares will no longer be deemed outstanding for any purpose, all distributions with respect to such Series B Preferred Shares shall cease to accrue after the redemption date and all rights of the holders of such shares will terminate, except the right to receive the redemption price, without interest. 
In the case of any redemption of only part of the Series B Preferred Shares at the time outstanding, the Series B Preferred Shares to be redeemed will be selected either pro rata or by lot. Subject to the provisions set forth in this description, the board of directors will have the full power and authority to prescribe the terms and conditions upon which Series B Preferred Shares may be redeemed from time to time. 
Voting Rights
Owners of Series B Preferred Shares do not have any voting rights, except as set forth below or as otherwise required by applicable law. To the extent that owners of Series B Preferred Shares are entitled to vote, each holder of Series B Preferred Shares will have one vote per share, except that when shares of any class or series of Parity Securities have the right to vote with the Series B Preferred Shares as a single class on any matter, the Series B Preferred Shares and the shares of each such Parity Securities will have one vote for each $25.00 of liquidation preference (for the avoidance of doubt, excluding accumulated distributions). 
Whenever dividends on any shares of the Series B Preferred Shares are in arrears for six or more quarterly Distribution Periods, whether or not consecutive, the number of directors then constituting our board of directors will be automatically increased by two (if not already increased by two by reason of the election of directors by the holders of any Other Voting Preferred Shares). The holders of Other Voting Preferred Shares and the holders of the Series B Preferred Shares will be entitled to vote, by the affirmative vote of a majority of the votes entitled to be cast, for the election of those two additional directors at a special meeting of the holders of the Series B Preferred Shares and such Other Voting Preferred Shares and at each subsequent annual meeting of the holders of our common shares at which such directors are up for reelection; provided that when all distributions accumulated on the Series B Preferred Shares for all past Distribution Periods and the then current Distribution Period shall have been fully paid, the right of holders of the Series B Preferred Shares to elect any directors will cease and, unless there are any Other Voting Preferred Shares entitled to vote for the election of directors, the term of office of those two directors will forthwith terminate, any directors elected by holders of the Series B Preferred Shares shall immediately resign and the number of directors constituting the board of directors shall be reduced accordingly. However, the right of the holders of the Series B Preferred Shares and any Other Voting Preferred Shares to elect two additional directors will again vest if and whenever six additional quarterly distributions have not been declared and paid, as described above. In no event shall the holders of the Series B Preferred Shares be entitled pursuant to these voting rights to elect a director that would cause us to fail to satisfy a requirement relating to director independence of any national securities exchange or quotation system on which any class or series of our Capital Stock is listed or quoted. For the avoidance of doubt, in no event shall the total number of directors elected by holders of the Series B Preferred Shares and any Other Voting Preferred Shares exceed two. 
If, at any time when the voting rights conferred upon the Series B Preferred Shares (as described above) are exercisable, any vacancy in the office of a director elected pursuant to the procedures described above shall occur, then such vacancy may be filled only by the remaining director or by the affirmative vote of a majority of the votes entitled to be cast by the holders of record of the outstanding Series B Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a special meeting of such holders. Any director elected or appointed pursuant to the procedures described above may be removed at any time, with or without cause, only by the affirmative vote of holders of the outstanding Series B Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a meeting of shareholders, such removal to be effected by the affirmative vote of a majority of the votes entitled to be cast by the holders of the outstanding Series B Preferred Shares and Other Voting Preferred Shares, and may not be removed by the holders of our common shares. 
While any Series B Preferred Shares remain outstanding, we will not, without the affirmative vote or consent of holders of at least 662/3% in voting power of the Series B Preferred Shares and all Other Voting Preferred Shares, acting as a single class, (i) authorize, create or issue any Senior Securities or reclassify any authorized Capital Stock into any Senior Securities or issue any obligation or security convertible into or evidencing the right to purchase any Senior Securities or (ii) amend, alter or repeal any provision of the Operating Agreement, including by merger, consolidation or otherwise, so as to adversely affect the powers, preferences or special rights of the Series B Preferred Shares; provided that in the case of clause (ii) above, if such amendment affects materially and adversely the rights, designations, preferences, powers and duties of one or more but not all of the classes or series of the Other Voting Preferred Shares (including the Series B Preferred Shares for this purpose), only the consent of the holders of at least 662/3% in voting power of the outstanding shares of the classes or series so affected, voting as a class, is required in lieu of (or, if such consent is required by law, in addition to) the consent of the holders of 662/3% of the Other Voting Preferred Shares (including the Series B Preferred Shares for this purpose) as a class. However, we may create additional series or classes of Parity Securities and Junior Securities and issue additional classes or series of Parity Securities and Junior Securities without notice to or the consent of any holder of the Series B Preferred 

Shares; provided, however, that, in the case of Parity Securities, the full cumulative distributions for all past Distribution Periods on all outstanding Series B Preferred Shares shall have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside.
Notwithstanding the foregoing, none of the following will be deemed to affect the powers, preferences or special rights of the Series B Preferred Shares:
• any increase in the amount of authorized common shares or authorized preferred shares, or any increase or decrease in the number of shares of any series of preferred stock, or the authorization, creation and issuance of other classes or series of Capital Stock, in each case ranking on parity with or junior to the Series B Preferred Shares as to distributions or distribution of assets upon our liquidation, dissolution or winding up; 
• a merger or consolidation of us with or into another entity in which the Series B Preferred Shares remain outstanding with identical terms as existing immediately prior to such merger or consolidation; and 
• a merger or consolidation of us with or into another entity in which the Series B Preferred Shares are converted into or exchanged for preference securities of the surviving entity or any entity, directly or indirectly, controlling such surviving entity and such new preference securities have terms identical (other than the identity of the issuer) to the terms of the Series B Preferred Shares. 
The foregoing voting rights of the holders of Series B Preferred Shares shall not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required shall be effected, all outstanding Series B Preferred Shares shall have been redeemed or called for redemption upon proper notice and we shall have set aside sufficient funds for the benefit of holders of Series B Preferred Shares to effect the redemption. 
Forum Selection 
Each person that holds or has held a Series B Preferred Share and each person that holds or has held any beneficial interest in a Series B Preferred Share (whether through a broker, dealer, bank, trust company or clearing corporation or an agent of any of the foregoing or otherwise), to the fullest extent permitted by law, (i) irrevocably agrees that any claims, suits, actions or proceedings against us, or any director, officer, employee, control person, underwriter or agent of the Company or its affiliates, asserted under United States federal securities laws, otherwise arising under such laws, or that could have been asserted as a claim arising under such laws, shall be exclusively brought in the federal district courts of the United States of America (except, and only to the extent, that any such claims, actions or proceedings are of a type for which a member may not waive its right to maintain a legal action or proceeding in the courts of the State of Delaware with respect to matters relating to the organization or internal affairs of the Company as set forth under Section 18-109(d) of the Delaware Limited Liability Company Act); (ii) irrevocably submits to the exclusive jurisdiction of such courts in connection with any such claim, suit, action or proceeding; and (iii) irrevocably agrees not to, and waives any right to, assert in any such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of such courts or any other court to which proceedings in such courts may be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum or (C) the venue of such claim, suit, action or proceeding is improper.
Book-Entry System
All Series B Preferred Shares are represented by a single certificate issued to the Securities Depositary, and registered in the name of the Securities Depositary or its nominee, and no holder of the Series B Preferred Shares is entitled to receive a certificate evidencing Series B Preferred Shares unless otherwise required by law or the Securities Depositary gives notice of its intention to resign or is no longer eligible to act as such and we have not selected a substitute Securities Depositary within 60 calendar days thereafter. Payments and communications made by us to holders of the Series B Preferred Shares will be duly made by making payments to, and communicating with, the Securities Depositary. Accordingly, unless certificates are available to holders of the Series B Preferred Shares, each holder of Series B Preferred Shares must rely on (i) the procedures of the Securities Depositary and its participants to receive distributions, any redemption price, liquidation preference and notices, and to direct the exercise of any voting or nominating rights, with respect to such Series B Preferred Shares and (ii) the records of the Securities Depositary and its participants to evidence its ownership of such Series B Preferred Shares. 
So long as the Securities Depositary (or its nominee) is the sole holder of the Series B Preferred Shares, no beneficial holder of the Series B Preferred Shares will be deemed to be a holder of Series B Preferred Shares. The Depository Trust Company, the initial Securities Depositary, is a New York-chartered limited purpose trust company that performs services for its participants, some of whom (and/or their representatives) own The Depository Trust Company. The Securities Depositary maintains lists of its participants and will maintain the positions (i.e., ownership interests) held by its participants in the Series B Preferred Shares, whether as a holder of the Series B Preferred Shares for its own account or as a nominee for another holder of the Series B Preferred Shares.
Series C Preferred Shares
General 

The Operating Agreement authorizes the Company to issue up to 200,000,000 preferred shares in one or more series, and the Company’s board of directors is authorized to fix the number of shares of each series and determine the rights, designations, preferences, powers and duties of any such series. The “8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares” are designated as one series of our authorized preferred shares, consisting of 4,200,000 Series C Preferred Shares.
The Series C Preferred Shares represent perpetual equity interests in us and, unlike our indebtedness, do not give rise to a claim for payment of a principal amount at a particular date. As such, the Series C Preferred Shares rank junior to all of our current and future indebtedness and other liabilities with respect to assets available to satisfy claims against us. The Series C Preferred Shares have a fixed liquidation preference of $25.00 per Series C Preferred Share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of payment, whether or not declared; provided that the rights of the holders of Series C Preferred Shares to receive the liquidation preference will be subject to the proportional rights of holders of Parity Securities (as defined below) and to the other matters described under “-Liquidation Rights”.
All of the Series C Preferred Shares are represented by a single certificate issued to the Securities Depositary and registered in the name of its nominee. So long as a Securities Depositary has been appointed and is serving, no person acquiring Series C Preferred Shares will be entitled to receive a certificate representing such Series C Preferred Shares unless applicable law otherwise requires or the Securities Depositary resigns or is no longer eligible to act as such and a successor is not appointed. See “-Book-Entry System”.
Each holder of Series C Preferred Shares is admitted as a member of our limited liability company and deemed to have agreed to be bound by the terms of the Operating Agreement. Pursuant to the Operating Agreement, each holder of Series C Preferred Shares grants to certain of our officers (and, if appointed, a liquidator) a power of attorney to, among other things, execute and file documents required for our qualification, continuance or dissolution. The power of attorney also grants certain of our officers the authority to make certain amendments to, and to make consents and waivers under and in accordance with, the Operating Agreement. 
Our Series C Preferred Shares trade on the NYSE under the symbol “FTAI PR C”.
Ranking 
With respect to the payment of distributions and rights (including redemption rights) upon our liquidation, dissolution or winding up, the Series C Preferred Shares rank (i) senior and prior to our common shares and any class or series of preferred shares that by its terms is designated as ranking junior to the Series C Preferred Shares, (ii) pari passu with any class or series of preferred shares that by its terms is designated as ranking equal to the Series C Preferred Shares or does not state it is junior or senior to the Series C Preferred Shares (including our Series A Preferred Shares and Series B Preferred Shares), (iii) junior to any class or series of preferred shares that is expressly designated as ranking senior to the Series C Preferred Shares (subject to receipt of any requisite consents prior to issuance) and (iv) effectively junior to all of our existing and future indebtedness (including indebtedness convertible into our common shares or preferred shares) and other liabilities and to all liabilities and any preferred equity of our existing subsidiaries and any future subsidiaries.
The Series C Preferred Shares are not convertible into, or exchangeable for, shares of any other class or series of our Capital Stock or other securities and will not be subject to any sinking fund or other obligation to redeem or repurchase the Series C Preferred Shares. The Series C Preferred Shares are not secured, are not guaranteed by us or any of our affiliates and are not subject to any other arrangement that legally or economically enhances the ranking of the Series C Preferred Shares. 
Distributions
Holders of the Series C Preferred Shares are entitled to receive, only when, as, and if declared by our board of directors, out of funds legally available for such purpose, cumulative cash distributions based on the stated liquidation preference of $25.00 per Series C Preferred Share at a rate equal to (i) from, and including, the original issue date of the Series C Preferred Shares to, but excluding, June 15, 2026 (the “Series C Reset Rate Period”), 8.25% per annum, and (ii) beginning June 15, 2026 (the “Series C Fixed Rate Period”), the Five-Year Treasury Rate (as defined below) plus a spread of 737.8 basis points per annum; provided that if the Five-Year Treasury Rate for any Distribution Period (as defined below) described in this clause (ii) cannot be determined pursuant to the definition of “Five-Year Treasury Rate,” the distribution rate for such Distribution Period will be the same as the distribution rate determined for the immediately preceding Distribution Period. A “Distribution Period” means the period from, and including, each Distribution Payment Date to, but excluding, the next succeeding Distribution Payment Date, except for the initial Distribution Period, which is the period from, and including, the original issue date of the Series C Preferred Shares to, but excluding, the next succeeding Distribution Payment Date.
For purposes of calculating the distribution rate for a given Series C Fixed Rate Period, the calculation agent shall determine the “Five-Year Treasury Rate” (for any Reset Period (as defined below) commencing on or after the First Reset Date), based on the rate on the Reset Distribution Determination Date (as defined below) and equal to:

(i) The average of the yields to maturity on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five Business Days appearing under the caption ‘‘Treasury Constant Maturities’’ in the most recently published statistical release designated H.15 Daily Update or any successor publication which is published by the Federal Reserve Board, as determined by the calculation agent in its sole discretion; or
(ii) If no calculation is provided as described in clause (i), then the calculation agent, after consulting such sources as it deems comparable to any of the foregoing calculations, or any such source as it deems reasonable from which to estimate the Five-Year Treasury Rate, shall determine the Five-Year Treasury Rate in its sole discretion, provided that if the calculation agent determines there is an industry-accepted successor Five-Year Treasury Rate, then the Calculation Agent shall use such successor rate. If the calculation agent has determined a substitute or successor rate in accordance with the foregoing, the calculation agent, in its sole discretion, may determine the “business day” convention, the definition of “business day” and the Reset Distribution Determination Date to be used and any other relevant methodology for calculating such substitute or successor rate, including any adjustment factor needed to make such substitute or successor rate comparable to the rate described in clause (i), in a manner that is consistent with industry-accepted practices for such substitute or successor rate.
As used herein, “Reset Period” means the period from, and including, June 15, 2026 to, but excluding, the fifth-year anniversary of said date, and thereafter from, and including, the fifth-year anniversary of June 15, 2026 but excluding the following fifth-year anniversary of said date (each five-year period, commencing with June 15, 2026, a “Reset Period”).
As used herein, “Reset Distribution Determination Date” means, in respect of any Reset Period, the day falling three business days prior to the beginning of such Reset Period.
When, as, and if declared by our board of directors, we pay cash distributions on the Series C Preferred Shares quarterly, in arrears, on each Distribution Payment Date, beginning on June 15, 2021. We pay cash distributions to the holders of record of Series C Preferred Shares as they appear on our share register on the applicable record date, which for any Distribution Payment Date shall be the 1st calendar day of the month of such Distribution Payment Date or such other record date fixed by our board of directors as the record date for such Distribution Payment Date that is not more than 60 nor less than 10 days prior to such Distribution Payment Date. 
So long as the Series C Preferred Shares are held of record by the nominee of the Securities Depositary, declared distributions will be paid to the Securities Depositary in same-day funds on each Distribution Payment Date. The Securities Depositary will credit accounts of its participants in accordance with the Securities Depositary’s normal procedures. The participants will be responsible for holding or disbursing such payments to beneficial owners of the Series C Preferred Shares in accordance with the instructions of such beneficial owners. 
We calculate distributions on the Series C Preferred Shares on the basis of a 360-day year consisting of twelve 30-day months. Dollar amounts resulting from that calculation are rounded to the nearest cent, with one-half cent being rounded upward. Distributions on the Series C Preferred Shares will cease to accrue on the redemption date, as described below under “-Redemption”, unless we default in the payment of the redemption price of the Series C Preferred Shares called for redemption. 
Distributions on the Series C Preferred Shares are not mandatory. However, distributions on the Series C Preferred Shares accrue from the original issue date, or the most recent Distribution Payment Date on which all accrued distributions have been paid, as applicable, whether or not we have earnings, whether or not there are funds legally available for the payment of those distributions and whether or not those distributions are declared. No interest, or sum in lieu of interest, is payable in respect of any distribution payment or payments on the Series C Preferred Shares which may be in arrears, and holders of the Series C Preferred Shares are not entitled to any distribution, whether payable in cash, property, or shares, in excess of full cumulative distributions described above.
If in the future we issue additional shares of the Series C Preferred Shares, distributions on those additional shares will accrue from the most recent Distribution Payment Date at the then-applicable distribution rate.
Priority Regarding Distributions
While any Series C Preferred Shares remain outstanding, unless the full cumulative distributions for all past Distribution Periods on all outstanding Series C Preferred Shares have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside:
(1) no distribution will be declared and paid or set aside for payment on any Junior Securities (as defined below) (other than a distribution payable solely in shares of Junior Securities);
(2) no shares of Junior Securities will be repurchased, redeemed, or otherwise acquired for consideration by the Company or any of its subsidiaries, directly or indirectly (other than as a result of a reclassification of Junior Securities for or into other Junior Securities, or the exchange for or conversion into Junior Securities, through the use of the proceeds of a substantially contemporaneous sale of other shares of Junior Securities or pursuant to a contractually binding requirement to buy Junior Securities pursuant to a binding agreement existing prior to the 

original issue date of the Series C Preferred Shares), nor will any monies be paid to or made available for a sinking fund for the redemption of any such securities by the Company or any of its subsidiaries; and 
(3) no shares of Parity Securities will be repurchased, redeemed or otherwise acquired for consideration by the Company or any of its subsidiaries (other than pursuant to pro rata offers to purchase or exchange all, or a pro rata portion of Series C Preferred Shares and such Parity Securities or as a result of a reclassification of Parity Securities for or into other Parity Securities, or by conversion into or exchange for other Parity Securities or Junior Securities).
The foregoing limitations do not apply to (i) purchases or acquisitions of, or cash settlement in respect of, Junior Securities pursuant to any employee or director incentive or benefit plan or arrangement (including any of our employment, severance, or consulting agreements) of ours or of any of our subsidiaries and (ii) any distribution in connection with the implementation of a shareholder rights plan or the redemption or repurchase of any rights under such a plan, including with respect to any successor shareholder rights plan.
Accumulated distributions in arrears for any past Distribution Period may be declared by the board of directors and paid on any date fixed by the board of directors, whether or not a Distribution Payment Date, to holders of the Series C Preferred Shares on the record date for such payment, which may not be less than 10 days before such distribution. To the extent a distribution period applicable to a class of Junior Securities or Parity Securities is shorter than the Distribution Period applicable to the Series C Preferred Shares (e.g., monthly rather than quarterly), the board of directors may declare and pay regular distributions with respect to such Junior Securities or Parity Securities so long as, at the time of declaration of such distribution, the board of directors expects to have sufficient funds to pay the full cumulative distributions in respect of the Series C Preferred Shares on the next Distribution Payment Date.
Subject to the next succeeding sentence, if all accumulated distributions in arrears on all outstanding Series C Preferred Shares and any Parity Securities have not been declared and paid, or sufficient funds for the payment thereof have not been set apart, payment of accumulated distributions in arrears will be made in order of their respective distribution payment dates, commencing with the earliest distribution payment date. If less than all distributions payable with respect to all Series C Preferred Shares and any Parity Securities are paid, any partial payment will be made pro rata with respect to the Series C Preferred Shares and any Parity Securities entitled to a distribution payment at such time in proportion to the aggregate amounts remaining due in respect of such Series C Preferred Shares and Parity Securities at such time. 
As used in this description of Series C Preferred Shares, (i) “Junior Securities” means our common shares and any other class or series of our Capital Stock over which the Series C Preferred Shares has preference or priority in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up, (ii) “Parity Securities” means any other class or series of our Capital Stock that ranks equally with the Series C Preferred Shares in the payment of distributions and in the distribution of assets on our liquidation, dissolution or winding up (including our Series A Preferred Shares and Series B Preferred Shares) and (iii) “Senior Securities” means any other class or series of our Capital Stock that has preference or priority over the Series C Preferred Shares in the payment of distributions or in the distribution of assets on our liquidation, dissolution or winding up. 
Subject to the conditions described above, and not otherwise, distributions (payable in cash, shares, or otherwise), as may be determined by our board of directors, may be declared and paid on our common shares and any Junior Securities from time to time out of any funds legally available for such payment, and the holders of the Series C Preferred Shares will not be entitled to participate in those distributions. 
Liquidation Rights 
Upon our voluntary or involuntary Liquidation, the holders of the outstanding Series C Preferred Shares are entitled to be paid out of our assets legally available for distribution to our shareholders, before any distribution of assets is made to holders of common shares or any other Junior Securities, a liquidating distribution in the amount of a liquidation preference of $25.00 per share, plus an amount equal to accumulated and unpaid distributions thereon, if any, to, but excluding, the date of such liquidating distribution, whether or not declared, plus the sum of any declared and unpaid distributions for Distribution Periods prior to the Distribution Period in which the liquidating distribution is made and any declared and unpaid distributions for the then current Distribution Period in which the liquidating distribution is made to the date of such liquidating distribution. After payment of the full amount of the liquidating distributions to which they are entitled, the holders of Series C Preferred Shares will have no right or claim to any of our remaining assets. 
Distributions will be made only to the extent that our assets are available after satisfaction of all liabilities to creditors and subject to the rights of holders of any securities ranking senior to the Series C Preferred Shares. If, in the event of a Liquidation, we are unable to pay full liquidating distributions to the holders of all outstanding Series C Preferred Shares in accordance with the foregoing and to all Parity Securities in accordance with the terms thereof, then we will distribute our assets to those holders ratably in proportion to the liquidating distributions to which they would otherwise have received.

Our merger or consolidation with or into any other entity or by another entity with or into us or the sale, lease, exchange or other transfer of all or substantially all of our assets (for cash, securities or other consideration) will not be deemed to be a liquidation, dissolution or winding up. If we enter into any merger or consolidation transaction with or into any other entity and we are not the surviving entity in such transaction, the Series C Preferred Shares may be converted into shares of the surviving or successor entity or the direct or indirect parent of the surviving or successor entity having terms identical to the terms of the Series C Preferred Shares set forth in this description.
Because we are a holding company, our rights and the rights of our creditors and our shareholders, including the holders of the Series C Preferred Shares, to participate in the distribution of assets of any of our subsidiaries upon that subsidiary’s voluntary or involuntary liquidation, dissolution or winding up will be subject to the prior claims of that subsidiary’s creditors, except to the extent that we are a creditor with recognized claims against that subsidiary.
Conversion; Exchange and Preemptive Rights
The Series C Preferred Shares are not entitled to any preemptive rights or other rights to purchase or subscribe for our common shares or any other security, and are not convertible into or exchangeable for our common shares or any other security or property at the option of the holder.
Redemption
The Series C Preferred Shares are not subject to any mandatory redemption, sinking fund or other similar provisions. 
Holders of Series C Preferred Shares do not have the right to require the redemption or repurchase of the Series C Preferred Shares. 
Optional Redemption on or after June 15, 2026 
We may redeem the Series C Preferred Shares, in whole or in part, at our option, at any time or from time to time on or after June 15, 2026 (“Series C Optional Redemption”), at the redemption price equal to $25.00 per Series C Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. We may undertake multiple Series C Optional Redemptions. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
Optional Redemption upon a Rating Event
At any time within 120 days after the conclusion of any review or appeal process instituted by us following the occurrence of a Series C Rating Event (as defined below), we may, at our option, redeem the Series C Preferred Shares in whole, but not in part, prior to June 15, 2026, at a redemption price per Series C Preferred Share equal to $25.50 (102% of the liquidation preference of $25.00), plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness. 
“Series C Rating Event” means a change by any rating agency to the criteria employed by such rating agency as of the date of original issuance of the Series C Preferred Shares for purposes of assigning ratings to securities with features similar to the Series C Preferred Shares, which change results in (i) any shortening of the length of time for which the current criteria are scheduled to be in effect with respect to the Series C Preferred Shares, or (ii) a lower equity credit being given to the Series C Preferred Shares than the equity credit that would have been assigned to the Series C Preferred Shares by such rating agency pursuant to the current criteria. 
Optional Redemption upon a Change of Control
If a Change of Control occurs, we may, at our option, redeem the Series C Preferred Shares, in whole but not in part, prior to June 15, 2026 and within 60 days after the occurrence of such Change of Control, at a price of $25.25 per Series C Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
If (i) a Change of Control occurs (whether before, on or after June 15, 2026) and (ii) we do not give notice prior to the 31st day following the Change of Control to redeem all the outstanding Series C Preferred Shares, the distribution rate per annum on the Series C Preferred Shares will increase by 500 basis points, beginning on the 31st day following such Change of Control.
The Change of Control redemption feature of the Series C Preferred Shares may, in certain circumstances, make more difficult or discourage a sale or takeover of our limited liability company or a member of the Company 

and, thus, the removal of incumbent management. We have no present intention to engage in a transaction involving a Change of Control, although it is possible that we could decide to do so in the future.
Optional Redemption upon a Tax Redemption Event
If a Series C Tax Redemption Event (as defined below) occurs, we may, at our option, redeem the Series C Preferred Shares, in whole but not in part, prior to June 15, 2026, and within 60 days after the occurrence of such Series C Tax Redemption Event, at a price of $25.25 per Series C Preferred Share, plus an amount equal to all accumulated and unpaid distributions thereon, if any, to, but excluding, the date of redemption, whether or not declared. Any such redemption would be effected only out of funds legally available for such purpose and would be subject to compliance with the provisions of the instruments governing our outstanding indebtedness.
“Series C Tax Redemption Event” means, after the date the Series C Preferred Shares are first issued, due to (a) an amendment to, or a change in official interpretation of the Code, Treasury Regulations promulgated thereunder, or administrative guidance or (b) an administrative or judicial determination, (i) we are advised by nationally recognized counsel or a “Big Four” accounting firm that we will be treated as an association taxable as a corporation for U.S. Federal income tax purposes or otherwise subject to U.S. Federal income tax (other than any tax imposed pursuant to Section 6225 of the Code, as amended by the Bipartisan Budget Act of 2015), or (ii) we file an IRS Form 8832 (or successor form) electing that we be treated as an association taxable as a corporation for U.S. Federal income tax purposes.
Redemption Procedures 
If we elect to redeem any Series C Preferred Shares, we will provide notice to the holders of record of the Series C Preferred Shares to be redeemed, not less than 30 days and not more than 60 days before the date fixed for redemption thereof (provided, however, that if the Series C Preferred Shares are held in book-entry form through a Securities Depositary, we may give this notice in any manner permitted by such Securities Depositary). Any notice given as provided in this paragraph will be conclusively presumed to have been duly given, whether or not the holder receives such notice, and any defect in such notice or in the provision of such notice to any holder of Series C Preferred Shares designated for redemption will not affect the redemption of any other Series C Preferred Shares. Each notice of redemption shall state:
• the redemption date; 
• the redemption price; 
• if fewer than all Series C Preferred Shares are to be redeemed, the number of Series C Preferred Shares to be redeemed; and 
• the manner in which holders of Series C Preferred Shares called for redemption may obtain payment of the redemption price in respect of those shares. 
If notice of redemption of any Series C Preferred Shares has been given and if the funds necessary for such redemption have been deposited by us in trust with a bank or a Securities Depositary for the benefit of the holders of any Series C Preferred Shares so called for redemption, then from and after the redemption date such Series C Preferred Shares will no longer be deemed outstanding for any purpose, all distributions with respect to such Series C Preferred Shares shall cease to accrue on the redemption date and all rights of the holders of such shares will terminate, except the right to receive the redemption price, without interest. 
In the case of any redemption of only part of the Series C Preferred Shares at the time outstanding, the Series C Preferred Shares to be redeemed will be selected either pro rata or by lot. Subject to the provisions set forth in this description, the board of directors will have the full power and authority to prescribe the terms and conditions upon which Series C Preferred Shares may be redeemed from time to time. 
Voting Rights
Owners of Series C Preferred Shares do not have any voting rights, except as set forth below or as otherwise required by applicable law. To the extent that owners of Series C Preferred Shares are entitled to vote, each holder of Series C Preferred Shares will have one vote per share, except that when shares of any class or series of Parity Securities have the right to vote with the Series C Preferred Shares as a single class on any matter, the Series C Preferred Shares and the shares of each such Parity Securities will have one vote for each $25.00 of liquidation preference (for the avoidance of doubt, excluding accumulated distributions). 
Whenever dividends on any shares of the Series C Preferred Shares are in arrears for six or more quarterly Distribution Periods, whether or not consecutive, the number of directors then constituting our board of directors will be automatically increased by two (if not already increased by two by reason of the election of directors by the holders of any Other Voting Preferred Shares). The holders of Other Voting Preferred Shares and the holders of the Series C Preferred Shares will be entitled to vote, by the affirmative vote of a majority of the votes entitled to be cast, for the election of those two additional directors at a special meeting of the holders of the Series C Preferred Shares and such Other Voting Preferred Shares and at each subsequent annual meeting of the holders of our 

common shares at which such directors are up for reelection; provided that when all distributions accumulated on the Series C Preferred Shares for all past Distribution Periods and the then current Distribution Period shall have been fully paid, the right of holders of the Series C Preferred Shares to elect any directors will cease and, unless there are any Other Voting Preferred Shares entitled to vote for the election of directors, the term of office of those two directors will forthwith terminate, any directors elected by holders of the Series C Preferred Shares shall immediately resign and the number of directors constituting the board of directors shall be reduced accordingly. However, the right of the holders of the Series C Preferred Shares and any Other Voting Preferred Shares to elect two additional directors will again vest if and whenever six additional quarterly distributions have not been declared and paid, as described above. In no event shall the holders of the Series C Preferred Shares be entitled pursuant to these voting rights to elect a director that would cause us to fail to satisfy a requirement relating to director independence of any national securities exchange or quotation system on which any class or series of our Capital Stock is listed or quoted. For the avoidance of doubt, in no event shall the total number of directors elected by holders of the Series C Preferred Shares and any Other Voting Preferred Shares exceed two. 
If, at any time when the voting rights conferred upon the Series C Preferred Shares (as described above) are exercisable, any vacancy in the office of a director elected pursuant to the procedures described above shall occur, then such vacancy may be filled only by the remaining director or by the affirmative vote of a majority of the votes entitled to be cast by the holders of record of the outstanding Series C Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a special meeting of such holders. Any director elected or appointed pursuant to the procedures described above may be removed at any time, with or without cause, only by the affirmative vote of holders of the outstanding Series C Preferred Shares and all Other Voting Preferred Shares, acting as a single class at a meeting of shareholders, such removal to be effected by the affirmative vote of a majority of the votes entitled to be cast by the holders of the outstanding Series C Preferred Shares and Other Voting Preferred Shares, and may not be removed by the holders of our common shares. 
While any Series C Preferred Shares remain outstanding, we will not, without the affirmative vote or consent of holders of at least 662/3% in voting power of the Series C Preferred Shares and all Other Voting Preferred Shares, acting as a single class, (i) authorize, create or issue any Senior Securities or reclassify any authorized Capital Stock into any Senior Securities or issue any obligation or security convertible into or evidencing the right to purchase any Senior Securities or (ii) amend, alter or repeal any provision of the Operating Agreement, including by merger, consolidation or otherwise, so as to adversely affect the powers, preferences or special rights of the Series C Preferred Shares; provided that in the case of clause (ii) above, if such amendment affects materially and adversely the rights, designations, preferences, powers and duties of one or more but not all of the classes or series of the Other Voting Preferred Shares (including the Series C Preferred Shares for this purpose), only the consent of the holders of at least 662/3% in voting power of the outstanding shares of the classes or series so affected, voting as a class, is required in lieu of (or, if such consent is required by law, in addition to) the consent of the holders of 662/3% of the Other Voting Preferred Shares (including the Series C Preferred Shares for this purpose) as a class. However, we may create additional series or classes of Parity Securities and Junior Securities and issue additional classes or series of Parity Securities and Junior Securities without notice to or the consent of any holder of the Series C Preferred Shares; provided, however, that, in the case of Parity Securities, the full cumulative distributions for all past Distribution Periods on all outstanding Series C Preferred Shares shall have been or contemporaneously are declared and paid in full or declared and a sum sufficient for the payment of those distributions has been set aside.
Notwithstanding the foregoing, none of the following will be deemed to affect the powers, preferences or special rights of the Series C Preferred Shares:
• any increase in the amount of authorized common shares or authorized preferred shares, or any increase or decrease in the number of shares of any series of preferred stock, or the authorization, creation and issuance of other classes or series of Capital Stock, in each case ranking on parity with or junior to the Series C Preferred Shares as to distributions or distribution of assets upon our liquidation, dissolution or winding up; 
• a merger or consolidation of us with or into another entity in which the Series C Preferred Shares remain outstanding with identical terms as existing immediately prior to such merger or consolidation; and 
• a merger or consolidation of us with or into another entity in which the Series C Preferred Shares are converted into or exchanged for preference securities of the surviving entity or any entity, directly or indirectly, controlling such surviving entity and such new preference securities have terms identical (other than the identity of the issuer) to the terms of the Series C Preferred Shares. 
The foregoing voting rights of the holders of Series C Preferred Shares shall not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required shall be effected, all outstanding Series C Preferred Shares shall have been redeemed or called for redemption upon proper notice and we shall have set aside sufficient funds for the benefit of holders of Series C Preferred Shares to effect the redemption. 
Forum Selection 
Each person that holds or has held a Series C Preferred Share and each person that holds or has held any beneficial interest in a Series C Preferred Share (whether through a broker, dealer, bank, trust company or clearing 

corporation or an agent of any of the foregoing or otherwise), to the fullest extent permitted by law, (i) irrevocably agrees that any claims, suits, actions or proceedings against us, or any director, officer, employee, control person, underwriter or agent of the Company or its affiliates, asserted under United States federal securities laws, otherwise arising under such laws, or that could have been asserted as a claim arising under such laws, shall be exclusively brought in the federal district courts of the United States of America (except, and only to the extent, that any such claims, actions or proceedings are of a type for which a member may not waive its right to maintain a legal action or proceeding in the courts of the State of Delaware with respect to matters relating to the organization or internal affairs of the Company as set forth under Section 18-109(d) of the Delaware Limited Liability Company Act); (ii) irrevocably submits to the exclusive jurisdiction of such courts in connection with any such claim, suit, action or proceeding; and (iii) irrevocably agrees not to, and waives any right to, assert in any such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of such courts or any other court to which proceedings in such courts may be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum or (C) the venue of such claim, suit, action or proceeding is improper.
Book-Entry System
All Series C Preferred Shares are represented by a single certificate issued to the Securities Depositary, and registered in the name of the Securities Depositary or its nominee, and no holder of the Series C Preferred Shares is entitled to receive a certificate evidencing Series C Preferred Shares unless otherwise required by law or the Securities Depositary gives notice of its intention to resign or is no longer eligible to act as such and we have not selected a substitute Securities Depositary within 60 calendar days thereafter. Payments and communications made by us to holders of the Series C Preferred Shares will be duly made by making payments to, and communicating with, the Securities Depositary. Accordingly, unless certificates are available to holders of the Series C Preferred Shares, each holder of Series C Preferred Shares must rely on (i) the procedures of the Securities Depositary and its participants to receive distributions, any redemption price, liquidation preference and notices, and to direct the exercise of any voting or nominating rights, with respect to such Series C Preferred Shares and (ii) the records of the Securities Depositary and its participants to evidence its ownership of such Series C Preferred Shares. 
So long as the Securities Depositary (or its nominee) is the sole holder of the Series C Preferred Shares, no beneficial holder of the Series C Preferred Shares will be deemed to be a holder of Series C Preferred Shares. The Depository Trust Company, the initial Securities Depositary, is a New York-chartered limited purpose trust company that performs services for its participants, some of whom (and/or their representatives) own The Depository Trust Company. The Securities Depositary maintains lists of its participants and will maintain the positions (i.e., ownership interests) held by its participants in the Series C Preferred Shares, whether as a holder of the Series C Preferred Shares for its own account or as a nominee for another holder of the Series C Preferred Shares.
Certain Provisions of Delaware Law and Our Operating Agreement
Our Operating Agreement
Limited Liability
The Delaware LLC Act provides that a member who receives a distribution from a Delaware limited liability company and knew at the time of the distribution that the distribution was in violation of the Delaware LLC Act shall be liable to the company for the amount of the distribution for three years. Under the Delaware LLC Act, a limited liability company may not make a distribution to a member if, after the distribution, all liabilities of the company, other than liabilities to members on account of their shares and liabilities for which the recourse of creditors is limited to specific property of the company, would exceed the fair value of the assets of the company. For the purpose of determining the fair value of the assets of a company, the Delaware LLC Act provides that the fair value of property subject to liability for which recourse of creditors is limited shall be included in the assets of the company only to the extent that the fair value of that property exceeds the nonrecourse liability. Under the Delaware LLC Act, an assignee who becomes a substituted member of a company is liable for the obligations of his assignor to make contributions to the company, except the assignee is not obligated for liabilities unknown to him at the time the assignee became a member and that could not be ascertained from the Operating Agreement.
Amendment of Our Operating Agreement
Amendments to our Operating Agreement may be proposed only by or with the consent of our board of directors. To adopt a proposed amendment, our board of directors is required to seek written approval of the holders of the number of shares required to approve the amendment or call a meeting of our shareholders to consider and vote upon the proposed amendment. Except as set forth below, an amendment must be approved by holders of a majority of the total outstanding shares.
Prohibited Amendments. No amendment may be made that would:
• enlarge the obligations of any shareholder without such shareholder's consent, unless approved by at least a majority of the type or class of shares so affected;

• provide that we are not dissolved upon an election to dissolve our limited liability company by our board of directors that is approved by holders of a majority of the outstanding shares;
• change the term of existence of our company; or
• give any person the right to dissolve our limited liability company other than our board of directors' right to dissolve our limited liability company with the approval of holders of a majority of the total combined voting power of our outstanding shares.
The provision of our Operating Agreement preventing the amendments having the effects described in any of the clauses above can be amended upon the approval of holders of at least two-thirds of the outstanding shares.
No Shareholder Approval. 
Our board of directors may generally make amendments to our Operating Agreement without the approval of any shareholder or assignee to reflect:
• a change in our name, the location of our principal place of our business, our registered agent or our registered office;
• the admission, substitution, withdrawal or removal of shareholders in accordance with our Operating Agreement;
• the merger of our company or any of its subsidiaries into, or the conveyance of all of our assets to, a newly-formed entity if the sole purpose of that merger or conveyance is to effect a mere change in our legal form into another limited liability entity;
• a change that our board of directors determines to be necessary or appropriate for us to qualify or continue our qualification as a company in which our members have limited liability under the laws of any state or to ensure that we will not be treated as an association taxable as a corporation or otherwise taxed as an entity for U.S. federal income tax purposes other than as we specifically so designate;
• an amendment that our board of directors determines, based upon the advice of counsel, to be necessary or appropriate to prevent us, members of our board, or our officers, agents or trustees from in any manner being subjected to the provisions of the Investment Company Act of 1940, the Investment Advisers Act of 1940, or “plan asset” regulations adopted under the Employee Retirement Income Security Act of 1974, or ERISA, whether or not substantially similar to plan asset regulations currently applied or proposed;
• an amendment or issuance that our board of directors determines to be necessary or appropriate for the authorization of additional securities;
• any amendment expressly permitted in our Operating Agreement to be made by our board of directors acting alone;
• an amendment effected, necessitated or contemplated by a merger agreement that has been approved under the terms of our Operating Agreement;
• any amendment that our board of directors determines to be necessary or appropriate for the formation by us of, or our investment in, any corporation, partnership or other entity, as otherwise permitted by our Operating Agreement;
• a change in our fiscal year or taxable year and related changes; and
• any other amendments substantially similar to any of the matters described in the clauses above.
In addition, our board of directors may make amendments to our Operating Agreement without the approval of any shareholder or assignee if our board of directors determines that those amendments:
• do not adversely affect the shareholders in any material respect;
• are necessary or appropriate to satisfy any requirements, conditions or guidelines contained in any opinion, directive, order, ruling or regulation of any federal or state agency or judicial authority or contained in any federal or state statute;
• are necessary or appropriate to facilitate the trading of shares or to comply with any rule, regulation, guideline or requirement of any securities exchange on which the shares are or will be listed for trading, compliance with any of which our board of directors deems to be in the best interests of us and our shareholders;
• are necessary or appropriate for any action taken by our board of directors relating to splits or combinations of shares under the provisions of our Operating Agreement; or
• are required to effect the intent expressed in this description or the intent of the provisions of our Operating Agreement or are otherwise contemplated by our Operating Agreement.

Anti-Takeover Effects of Delaware Law and Our Operating Agreement
The following is a summary of certain provisions of our Operating Agreement that may be deemed to have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that a shareholder might consider to be in its best interest, including those attempts that might result in a premium over the market price for the shares held by shareholders.
Authorized but Unissued Shares
Our authorized but unissued common shares and preferred shares will be available for future issuance without obtaining shareholder approval. These additional shares may be utilized for a variety of corporate purposes, including future offerings to raise additional capital and corporate acquisitions. The existence of authorized but unissued common shares and preferred shares could render more difficult or discourage an attempt to obtain control over us by means of a proxy contest, tender offer, merger or otherwise.
Delaware Business Combination Statute-Section 203
We are a limited liability company organized under Delaware law. Some provisions of Delaware law may delay or prevent a transaction that would cause a change in our control.
Section 203 of the DGCL, which restricts certain business combinations with interested shareholders in certain situations, does not apply to limited liability companies unless they elect to utilize it. Our Operating Agreement does not currently elect to have Section 203 of the DGCL apply to us. In general, this statute prohibits a publicly held Delaware corporation from engaging in a business combination with an interested shareholder for a period of three years after the date of the transaction by which that person became an interested shareholder, unless the business combination is approved in a prescribed manner. For purposes of Section 203, a business combination includes a merger, asset sale or other transaction resulting in a financial benefit to the interested shareholder, and an interested shareholder is a person who, together with affiliates and associates, owns, or within three years prior, did own, 15% or more of voting shares.
Other Provisions of Our Operating Agreement
Our Operating Agreement provides that our board shall consist of not fewer than three and not more than nine directors as the board of directors may from time to time determine. Our board of directors consists of five directors and is divided into three classes that are, as nearly as possible, of equal size. Each class of directors is elected for a three-year term of office, but the terms are staggered so that the term of only one class of directors expires at each annual general meeting. We believe that classification of our board of directors helps to assure the continuity and stability of our business strategies and policies as determined by our board of directors. Additionally, there is no cumulative voting in the election of directors. This classified board provision could have the effect of making the replacement of incumbent directors more time consuming and difficult. At least two annual meetings of shareholders, instead of one, are generally required to effect a change in a majority of our board of directors.
The classified board provision could increase the likelihood that incumbent directors will retain their positions. The staggered terms of directors may delay, defer or prevent a tender offer or an attempt to change control of us, even though a tender offer or change in control might be believed by our shareholders to be in their best interest.
In addition, our Operating Agreement provides that a director may be removed, only for cause, and only by the affirmative vote of at least 80% of the then issued and outstanding common shares entitled to vote in the election of directors.
In addition, our board of directors has the power to appoint a person as a director to fill a vacancy on our board occurring as a result of the death, disability, disqualification removal or resignation of a director, or as a result of an increase in the size of our board of directors.
Pursuant to our Operating Agreement, preferred shares may be issued from time to time, and the board of directors is authorized to determine and alter all designations, preferences, rights, powers and duties without limitation. Our Operating Agreement does not provide our shareholders with the ability to call a special meeting of the shareholders.
See also, “Series A Preferred Shares-Optional Redemption upon a Change of Control,” “Series B Preferred Shares-Optional Redemption upon a Change of Control” and “Series C Preferred Shares-Optional Redemption upon a Change of Control.”
Ability of Our Shareholders to Act
Our Operating Agreement does not permit our shareholders to call special shareholders meetings. Special meetings of shareholders may be called by a majority of the Board of Directors or a committee of the Board of Directors that has been duly designated by the Board of Directors and whose powers include the authority to call such meetings. Written notice of any special meeting so called shall be given to each shareholder of record entitled 

to vote at such meeting not less than 10 or more than 60 days before the date of such meeting, unless otherwise required by law.
Our Operating Agreement also prohibits our shareholders from consenting in writing to take any action in lieu of taking such action at a duly called annual or special meeting of our shareholders.
Our Operating Agreement provides that nominations of persons for election to our board of directors may be made at any annual meeting of our shareholders, or at any special meeting of our shareholders called for the purpose of electing directors, (a) by or at the direction of our board of directors or (b) by certain shareholders. In addition to any other applicable requirements, for business to be properly brought before an annual meeting by a shareholder, such shareholder must have given timely notice thereof in proper written form to our Secretary. To be timely, a  shareholder's notice must be delivered to or mailed and received at our principal executive offices (i) in the case of an annual meeting, not less than 90 days nor more than 120 days prior to the anniversary date of the immediately preceding annual meeting of shareholders; provided, however, that in the event that the annual meeting is called for a date that is not within 25 days before or after such anniversary date, notice by a shareholder in order to be timely must be so received not later than the close of business on the tenth day following the day on which such notice of the date of the annual meeting was mailed or such public disclosure of the date of the annual meeting was made, whichever first occurs and (ii) in the case of a special meeting, not later than the tenth day following the day on which such notice of the date of the special meeting was mailed or such public disclosure of the date of the special meeting was made, whichever first occurs.
Limitations on Liability and Indemnification of Directors and Officers
Our Operating Agreement provides that our directors will not be personally liable to us or our shareholders for monetary damages for breach of a fiduciary duty as a director, except to the extent such exemption is not permitted under the Delaware Limited Liability Company Act.
Our Operating Agreement provides that we must indemnify our directors and officers to the fullest extent permitted by law. We are also expressly authorized to advance certain expenses (including attorneys' fees and disbursements and court costs) to our directors and officers and carry directors' and officers' insurance providing indemnification for our directors and officers for some liabilities. We believe that these indemnification provisions and insurance are useful to attract and retain qualified directors and officers.
We have entered into separate indemnification agreements with each of our directors and executive officers. Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law and our Operating Agreement against (i) any and all expenses and liabilities, including judgments, fines, penalties and amounts paid in settlement of any claim with our approval and counsel fees and disbursements, (ii) any liability pursuant to a loan guarantee, or otherwise, for any of our indebtedness, and (iii) any liabilities incurred as a result of acting on our behalf (as a fiduciary or otherwise) in connection with an employee benefit plan. The indemnification agreements provide for the advancement or payment of all expenses to the indemnitee and for reimbursement to us if it is found that such indemnitee is not entitled to such indemnification under applicable law and our Operating Agreement.
Corporate Opportunity
Under our Operating Agreement, to the extent permitted by law:
• Fortress and its respective affiliates, including the Manager and General Partner, have the right to, and have no duty to abstain from, exercising such right to, engage or invest in the same or similar business as us, do business with any of our clients, customers or vendors or employ or otherwise engage any of our officers, directors or employees;
• if Fortress and its respective affiliates, including the Manager and General Partner, or any of their officers, directors or employees acquire knowledge of a potential transaction that could be a corporate opportunity, it has no duty to offer such corporate opportunity to us, our shareholders or affiliates;
• we have renounced any interest or expectancy in, or in being offered an opportunity to participate in, such corporate opportunities; and
• in the event that any of our directors and officers who is also a director, officer or employee of Fortress and their respective affiliates, including the Manager and General Partner, acquire knowledge of a corporate opportunity or is offered a corporate opportunity, provided that this knowledge was not acquired solely in such person's capacity as our director or officer and such person acted in good faith, then such person is deemed to have fully satisfied such person's fiduciary duty and is not liable to us if Fortress and their respective affiliates, including the Manager and General Partner, pursues or acquires the corporate opportunity or if such person did not present the corporate opportunity to us.Exhibit 4.9

Certain information has
been omitted from the exhibit because it is both not material and is the type that the registrant treats as private or confidential.
The omissions have been indicated by (“[...]”).

BUSINESS PARTNERSHIP AGREEMENT AND OTHER
COVENANTS

This Business Partnership Agreement and Other
Covenants (“Agreement”) is entered by and between:

	I.		BANCO SANTANDER (BRASIL) S.A., financial institution incorporated and existing under
the laws of Brazil, with principal place of business at Avenida Presidente Kubitschek, No. 2,041 and 2,235, Block A, Vila Olímpia,
City of São Paulo, Sate of São Paulo, Zip Code 04543-011, duly enrolled with the National Register of Legal Entities (CNPJ)
under No. 90.400.881/0001-02, herein represented pursuant to its bylaws (“Santander Brasil”): and

	II.		GETNET ADQUIRÊNCIA E SERVIÇOS PARA MEIOS DE PAGAMENTO S.A., closely held
corporation, with principal place of business at Av. Pres. Juscelino Kubitschek, No. 2041 - suite 121, Block A Cond. WTORRE JK, Vila
Nova Conceição, City of São Paulo, State of São Paulo, Zip Code 04543-011, duly enrolled with the CNPJ under
No. 10.440.482/0001-54, herein represented pursuant to its bylaws (“Getnet”).

Santander Brasil and Getnet are individually
referred to as “Party” and, collectively, as “Parties”.

RECITALS:

		(i)	WHEREAS Santander Brasil is a multiservice bank duly authorized to operate by the Central Bank,
which provides financial services to the general public, pursuant to the regulations in force;

		(ii)	WHEREAS Getnet is a payment institution that acts as an acquirer and issuer of digital currency,
duly authorized to operate by the Central Bank, which provides merchants with a solution for payments in physical and digital environments,
financial services and business processing management solutions;

		(iii)	WHEREAS, on March 31, 2021, Santander’s and Getnet’s shareholders approved, at an extraordinary
general shareholders’ meeting, the segregation of the equity interest held by Santander Brasil in Getnet, a wholly owned subsidiary
of Santander Brasil, through a partial spin-off from Santander Brasil and the merger of the spun-off portion into Getnet (“Spin-Off”),
subject to approval by the Central Bank;

		(iv)	WHEREAS the Parties wish to establish a business partnership with each other, within the national
territory, for the purpose of offering financial and payment services to their customers (“Partnership”): and

    	 

    	 

    

		(v)	WHEREAS, through this Agreement, the Parties wish to regulate the rights and obligations related
to the development and implementation of the Partnership.

NOW, THEREFORE, the Parties agree to
enter into this Agreement, pursuant to the following terms and conditions, which shall bind the Parties unconditionally and irrevocably,
by themselves and by their successors and assignees.

	I.		DEFINITIONS AND RULES FOR INTERPRETATION

	1.1		Without prejudice to the other definitions inserted in the scope of this Agreement, the following
terms and expressions, in plural or singular, shall have the definitions set forth below:

“Agreement” means this Business
Partnership Agreement and Other Covenants.

“Affiliate” means, in relation
to a Party, any company that, directly or indirectly, through one or more intermediaries, controls (even if jointly) or is controlled
by such Party.

“Public Agent” means anyone
who exercises, even if temporarily or without compensation, by election, appointment, designation, engagement or any other form of investiture
or bond, mandate, position, employment or function in the entities of the direct, indirect or foundational administration of any of the
Branches of the Federal Government, of the States, of the Federal District, of the Municipalities, of Territory, of a company incorporated
into the public property or of an entity whose creation or funding the treasury has competed with or competes with more than fifty percent
of the equity or annual revenue, being equivalent to such agents any person who represents them, even if unofficially. For the purposes
of this Agreement, public agents are also considered to be those who exercise similar functions for a foreign government or before international
organizations.

“Prepayment of Receivables”
or “RAV” means the prepayment, for the ECs, of the amount of the Transactions carried out with Payment Instruments
and already performed through the Partnership Channels.

“Electronic Signature” means
electronic signature on a portal of the world wide web with a key of the Public Key Infrastructure (Infraestrutura de Chaves Públicas)
- ICP Brasil.

“Central Bank” means the
Central Bank of Brazil.

“Partnership Channels” means,
jointly, (i) Means of Capture - POS or e-commerce, (ii) Call Center — provision of services from Santander Brasil to Getnet
(iii) Automatic Contracting; (iv) Portal Minha Conta (My Account Portal); (v) Manager Portal; (vi) Logged-In Area; (vii) Getnet
and SuperGet Apps e (viii) Getnet’s APIs used by Santander Brasil.

“Santander Distribution Channel”
means the branches, physical spaces, digital platforms, call centers, apps, websites, among other digital media developed and/or provided
by Santander Brasil, by itself or its Affiliates, and which shall be used for the purposes of offering and marketing Getnet Products within
the scope of the Partnership.

    	 

    	 

    

‘Spin-Off” has the meaning
ascribed to it in the preamble to this Agreement.

“Remittance Communication”
means the communication sent by Getnet to Santander Brasil and which includes all information related to the Receivables that shall be
subject to prepayment by Santander Brasil.

“Special Conditions” has
the meaning ascribed to it in Section ‎5.6.

“Automatic Contracting” means
the contracting of monthly prepayment of receivables, the authorization of which is carried out only once by the customer.

“Business Day” means any
day, other than a Saturday, Sunday or a day on which commercial banks are required or authorized by applicable law to remain closed in
Brazil.

“Dispute” has the meaning
ascribed to it in Section ‎18.2.

“Distribution via Santander Counter
Service” has the meaning ascribed to it in Section 5.1.

“Acquiring Equipment” means
all POS and PinPad according to the payment app data standard defined by PCI (Payment Card Industry) and installed by Getnet, when
contracted by the EC for acceptance of a Payment Instrument.

“Merchants” or “ECs”
means the merchants accredited by Getnet for the acceptance of Payment Instruments.

“Securitization Structure”
has the meaning ascribed to it in Section ‎6.3.

“FIDC” has the meaning ascribed
to it in Section ‎6.3.1.

“Funding” has the meaning
ascribed to it in Section ‎6.1.

“Generation of Leads” has
the meaning ascribed to it in Section ‎8.1.

“Getnet” has the meaning
ascribed to it in the preamble to this Agreement.

“Getnet SCD” has the meaning
ascribed to it in Section ‎6.3.

“Confidential Information”
has the meaning ascribed to it in Section ‎15.1.

“Payment Instrument” means
the physical or virtual payment instruments, issued within the scope of payment arrangements, in which Getnet acts as an acquirer.

“LGPD” means Law No. 13,709,
of August 14, 2018 (General Data Protection Law).

“Bank Secrecy Act” means
Supplementary Law No. 105, of January 10, 2001.

“Anti-Corruption Laws” means
all Brazilian legislation that, in any way, deals with or sanctions acts against the public administration and its regulations, including,
but not limited to, the Brazilian Anti-Corruption Law (Federal Law No. 12,846/2013), the Brazilian Anti-Corruption Decree (Decree No.
8,420/2015), the Conflicts of Interest Law

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(Federal Law No. 12,813/2013), the Federal Administrative
Corruption Law (Federal Law No. 8,429/1992) and the Federal Bids and Public Contracts Law (Federal Law 8,666/1993), as well as the applicable
antitrust and anti-money laundering laws. Along the same line, are included international legislations, which may eventually apply to
the case, including, but not limited to, the United States Foreign Corrupt Practices Act of 1977 or the UK Bribery Act 2010.

“Acquiring Business” means
the activity of accreditation and qualification of ECs for the acceptance of electronic payment instruments, as well as payment to the
EC of the amounts of the relevant business Transactions carried out, deducted from the applicable charges and commissions.

“Potential Santander Credit Operation
Notice” has the meaning ascribed to it in Section ‎6.3.

“Combo or Insert Offers”
means the prices defined, published and agreed upon by the Parties, referring to the Merchant Discount Rates and to the Rates of Prepayment
of Receivables operations made available to Individuals and Merchants, taking into account the segment, target audience and volume, and
Modality of Billing.

“Santander Credit Operations”
means the loans and/or financing granted by Santander Brasil.

“Origination of Credit Operations”
has the meaning ascribed to it in Section ‎7.1.

“Partnership” has the meaning
ascribed to it in Recital (iv) to this Agreement.

“Indemnified Party” has the
meaning ascribed to it in Section ‎14.1.

“Indemnifying Party” has
the meaning ascribed to it in Section ‎14.1.

“Recipient Party” has the
meaning ascribed to it in Section ‎15.1.

“Responsible Party” has the
meaning ascribed to it in Section ‎14.1.

“Disclosing Party” has the
meaning ascribed to it in Section ‎14.1.

“Losses” has the meaning
ascribed to it in Section ‎14.1.

“Potential Customers” has
the meaning ascribed to it in Section ‎6.1.

“Acquisition Price” means
the amount to be paid by Santander Brasil for the acquisition of the Receivables belonging to the ECs and which, pursuant to this Agreement
and the Term of Assignment, shall be subject to the Prepayment of Receivables to be conducted by Santander Brasil.

“Getnet Products” has the
meaning ascribed to it in Section ‎5.3.

“Receivables” means the receivables
held by the ECs against Getnet, as a result of the Transactions carried out by paying end users before the ECs, for the purpose of acquiring
goods and/or services.

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“Sale and Lease Reimbursement”
has the meaning ascribed to it in Section ‎5.6.

“Rebate Reimbursement” has
the meaning ascribed to it in Section ‎9.3.

“Fee Reimbursement” has the
meaning ascribed to it in Section ‎5.6.

“Customer Price Reimbursement”
has the meaning ascribed to it in Section ‎5.6.

“Santander Counter Service Compensation”
has the meaning ascribed to it in Section ‎5.4.

“Compensation for Generation of Leads”
has the meaning ascribed to it in Section ‎8.4.

“Compensation for Origination of Credit
Operations” has the meaning ascribed to it in Section ‎7.4.

“Representatives” has the
meaning ascribed to it in Section ‎15.1.

“Net Result of RAV Business”
means the net result of the Prepayment of Receivables business explored in the Partnership, as calculated pursuant to Exhibit I
to this Agreement.

“Santander Brasil” has the
meaning ascribed to it in the preamble to this Agreement.

“Santander Integrated Account”
has the meaning ascribed to it in Section ‎5.5.

“Registration System” has
the meaning ascribed to it in Section ‎4.4.

“Transactions” means any
and all acquisitions of goods and/or services made by the paying end users, submitted and processed electronically by Getnet using a Payment
Instrument.

	1.2		Whenever required by the context, the definitions contained in this Agreement shall apply
both in the singular and in the plural, and the male gender shall include the female gender and vice versa.

	1.3		The headings and titles of this Agreement are for reference convenience only and shall not
limit or affect the meaning of the Sections or Sub-sections to which they apply. The recitals of this Agreement serve and assist in its
interpretation and application.

	1.4		References to any document or other instruments include all their amendments, substitutions
and consolidations and respective additions, unless expressly provided otherwise.

	1.5		All references to any of the Parties include their successors, beneficiaries, representatives
and permitted assigns, as applicable.

	II.		PURPOSE

	2.1		Purpose. The purpose of this Agreement is to regulate the rights and duties of the
Parties within the scope of the Partnership to be developed jointly between Santander Brasil and Getnet, in order to enable the offer
of certain services and financial and payment solutions, as described in Chapter III to this Agreement.

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	2.2		Commercial and Operating Conditions. The Parties hereby accept and represent that
they shall use their best efforts to provide each other with the commercial and operating conditions necessary for the development of
the Partnership set forth herein, with due regard for the specific conditions of each service and/or solution set forth herein.

	III.		PARTNERSHIP STRUCTURE

	3.1		General Structure. Subject to the specific conditions set forth in this Agreement,
the Partnership shall involve:

	(a)		Prepayment of Receivables: feasibility by the Parties of the Prepayment of Receivables
for the benefit of Merchants.

	(b)		Services provided by Santander Brasil for the benefit of Getnet:

	(i)		Distribution via Santander Counter Service. The distribution by Santander Brasil of
Getnet Products to its customer base, through the Santander Distribution Channels and with due regard for the applicable customer eligibility
criteria; and

	(ii)		Provision of Funding for Getnet Credit Operations. The provision of funding, by Santander
Brasil, for loans and/or financing to be granted by Getnet and/or its subsidiaries, with due regard for the specific conditions of this
Agreement.

	(c)		Services provided by Getnet for the benefit of Santander Brasil:

	(i)		Origination of Santander Credit Operations. The indication, by Getnet, to Santander
Brasil of potential customers who are interested in Santander Credit Operations, with due regard for the specific conditions set forth
in this Agreement; and

	(ii)		Generation of Leads. The indication, by Getnet, to Santander Brasil of potential customers
who are interested in contracting services from Santander Brasil, with due regard for the specific conditions set forth in this Agreement.

	3.2		Guidelines and Instructions. Without prejudice to the foregoing, the Parties undertake
to observe the internal guidelines and/or instructions, previously and reasonably, provided by the other Party, as the case may be, in
the exploration of each of the activities subject matter of this Agreement, in order to ensure the feasibility and consistency of the
Partnership.

	3.3		Lack of Exclusivity. It is hereby established that Santander and Getnet do not have
any obligation of exclusivity towards the other in relation to the activities set forth in this Agreement.

	3.4		The Parties hereby agree that after the twelve (12) initial months of the Partnership, they
shall review the conditions of the Santander Counter Service Compensation.

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	IV.		PREPAYMENT OF RECEIVABLES

	4.1		Assignment of the Right to Prepay Receivables. It is established that the operations
of Prepayment of Receivables held by the ECs shall be carried out by Santander Brasil, directly and as the debtor of the operations with
the ECs, with due regard for the terms and conditions set forth in this Agreement, and unless Getnet decides to carry out such Prepayment
of Receivables operations directly or by its subsidiaries and/or if the EC decides to carry out such operations with other institutions.

	4.1.1.		Therefore, Santander Brasil hereby, irrevocably and irreversibly, constitutes Getnet, according
to articles 684 and 685 of the Brazilian Civil Code, as its agent, to act on behalf of Santander Brasil, for all purposes, in contracting
Prepayment of Receivables operations with the ECs.

	4.1.2.		The Prepayment of Receivables operations shall occur through credit assignment (without co-obligation)
between Santander Brasil and the ECs, which may, at the sole discretion of Santander Brasil, be intermediated by Getnet, as agent of
Santander Brasil], by means of its service channels.

	4.2		Result of RAV Business. By virtue of the Prepayment of Receivables operations carried
out under the terms set forth herein and considering the Partnership contemplated in this Agreement, the Parties agree to determine the
Result of the RAV Business and attribute it to Genet, under the terms and conditions set forth in Exhibit I to this Agreement.

	4.3		Operationalization. The Parties shall establish, by mutual agreement, the steps and
other applicable obligations, in order to operationalize the Prepayment of Receivables operations contained in this Agreement.

	4.4		Registration of Receivables. Santander Brasil shall only accept Receivables due to
the ECs that are duly registered in registration systems validly authorized by the Central Bank (“Registration System”)

	4.4.1.		The assignment of Receivables formalized through the Term of Assignment, in turn, constitutes
the payment arrangement receivables negotiation, as defined by article 2, item II, of Circular 3,952, of June 27, 2018, and, therefore,
must be registered in the relevant Registration System, pursuant to the aforementioned Circular.

	4.5		Final Assignment of Receivables. The Parties hereby agree that, once the steps set
forth in this Chapter IV are observed, as well as other steps to be agreed between the Parties, the Receivables shall be irrevocably
and irreversibly transferred and assigned to Santander Brasil for the price and conditions established in the Term of Assignment and
other relevant documents.

	4.6		Settlement of Receivables. The Parties agree that the execution of the Term of Assignment
(by the EC) shall oblige Getnet to pay Santander Brasil the amount of the Receivable on its due date, and the execution of the Term of
Assignment serving as an acknowledgment of the assignment and notice by Getnet for the purposes of article 290 of the Civil Code, regardless
of any notice on the part of the EC to Getnet.

	4.6.1.		Getnet hereby agrees that it shall be responsible for the correct payment of the amount related
to the Receivable assigned to Santander Brasil, in an account to be indicated by it in due course.

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	V.		DISTRIBUTION VIA SANTANDER COUNTER SERVICE

	5.1		Santander Distribution Channel. Santander Brasil, within the scope of this Agreement
and through the Santander Distribution Channel, may promote, disclose and market the Getnet Products to its customer base, provided that
such distribution shall cover the provision of general information and the clarification of doubts related to such products (“Distribution
via Santander Counter Service”).

	5.1.1.		The disclosure and offering of Getnet Products shall comply with the instructions, guidelines,
as well as the technical and/or commercial aspects, previously and reasonably, provided by Getnet, pursuant to this Agreement.

	5.1.2.		Getnet, in turn, undertakes to provide the instructions, information and/or advertising materials
necessary for the proper promotion, disclosure and offer of Getnet Products on the Santander Distribution Channel, including the characteristics,
values and other related technical and commercial aspects related to such products.

	5.1.3.		In addition to the Distribution services via Santander Counter Service, the Parties acknowledge
and agree that Santander Brasil is committed to providing, free of charge, certain physical spaces of its units, which must be used solely
and exclusively, by Getnet, for the purpose of distributing the Acquiring Equipment, under the terms set forth in the Services Agreement
and Other Covenants entered into, on January 24, 2019, by and between Getnet, Itrade Marketing Smollan Brasil Ltda. and Santander Brasil,
as an intervening consenting party.

	5.2		Operational Aspects. The actual contracting of Getnet Products may take place directly
between Santander Brasil and the customer or between Getnet and the customer, as the case may be, provided that the Parties shall agree
on the specific operating procedures applicable in each situation.

	5.3		Getnet Products. It is hereby established that Getnet Products cover the services
and solutions set forth in Exhibit II to this Agreement, without prejudice to others that are defined by mutual agreement between
the Parties by electronic mail (“Getnet Products”).

	5.3.1.		By way of clarification, the new Getnet Products shall be defined and agreed between the
Parties in writing, via electronic mail and with reasonable notice, with no need to amend this Agreement.

	5.4		Compensation. In consideration for the Distribution service via Santander Counter
Service set forth herein, Santander Brasil shall be entitled to a compensation to be paid by Getnet, according to the terms and conditions
set forth in Exhibit III to this Agreement (“Santander Counter Service Compensation”).

	5.5		Santander Integrated Account. With respect to Getnet customers who are also individuals
and/or legal entities holding Santander Brasil accounts, Getnet undertakes to grant benefits and special commercial conditions when contracting
Getnet Products (“Santander Integrated Account” and “Special Conditions”, respectively). Such Special
Conditions include:

	(i)		discount on the lease of Means of Capture for customers who have a volume of billing equal
to or greater than that stipulated in each offer formalized and agreed between the Parties;

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	(ii)		reduction in the prepayment of receivables rate;

	(iii)		discount on the monthly service package fee.

	5.5.2.		The Special Conditions listed herein shall be granted according to the volume of billing
that each customer has with the Acquiring Business.

	5.6		Reimbursement. By reason of the Special Conditions granted by Getnet in relation to
the Lease, the Merchant Discount Rate and the Prepayment of Receivables Rate and the sale of Means of Capture contracted and/or acquired
by customers participating in the Acquiring Business, Santander Brasil agrees to monthly reimburse Getnet the amount corresponding to
(i) [...] percent ([...]%) of the amount of the leases of the Means of Capture for each EC that has been awarded the discount granted
by reason of the Special Conditions of Santander Integrated Account (“Lease Reimbursement”); (ii) [...] percent ([...]%)
of the amount subsidized by Getnet on the sale of the Means of Capture for each EC that has been awarded the subsidy granted by reason
of the Special Conditions of the Integrated Account, corresponding to the difference between the cost of the Mean of Capture to Getnet
and the sale amount charged from such EC at the time of the accreditation (“Sale Reimbursement” and, together with
the “Lease Reimbursement”, “Sale and Lease Reimbursement”); and (iii) [...] percent ([...]%)
of the amount resulting from the difference of the Merchant Discount Rate and the Prepayment of Receivables Rate, charged from Individuals
or Merchants for the Merchant Discount Rates and Prepayment of Receivables Rate of the Combo or Insert Offers (“Fee Reimbursement”
and, together with the “Lease Reimbursement” and the “Sale Reimbursement”, “Customer Price Reimbursement”).

	5.6.1.		The calculation and payment of the Sale and Lease Reimbursement shall comply with the terms
and conditions set forth in Exhibit IV to this Agreement.

	5.7		Lack of Exclusivity. For clarification purposes, given the lack of exclusivity set
forth in Section 3.3 above, the Parties agree that Getnet may promote, disclose and market the Getnet Products through any other distribution
channels owned by it or owned by third parties, as well as Santander Brasil may promote, disclose and market any third-party products.

	VI.		FUNDING FOR GETNET CREDIT OPERATIONS

	6.1		Funding. Santander Brasil is interested in being the funding provider for loans
and/or financing to be granted by Getnet and/or its subsidiaries (“Funding”).

	6.2		Operational Flow. Getnet and/or its subsidiaries shall communicate to Santander Brasil,
with minimum notice to be agreed between the Parties, any and all demand for Funding and shall send Santander Brasil the necessary information
for it to assess the conditions for Funding (“Potential Santander Credit Operation Notice”).

	6.2.1.		Potential Santander Credit Operation Notice shall be accompanied by all the information and
documents necessary for Santander Brasil to carry out the relevant analyses, as agreed between the Parties.

	6.2.2.		Santander Brasil may request additional information from Getnet and/or its subsidiaries,
as the case may be, that is necessary to analyze the potential granting of Funding, according to the policies of Santander Brasil.

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	6.2.3.		Once the necessary information has been received, Santander Brasil, within a period to be
agreed between the Parties, shall inform Getnet and/or its subsidiaries of the possibility of granting Funding and the applicable conditions,
including the applicable interest rate, total actual cost, deadline for the availability of resources and the need for any guarantees.
If Getnet and/or its subsidiaries are in accordance with the conditions presented, the instrument necessary to formalize the granting
of Funding shall be executed.

	6.2.4.		If there is no expression of interest by Santander Brasil or if Getnet and/or its subsidiaries
are not in accordance with the conditions presented, Getnet and/or its subsidiaries shall be free to seek funding from other sources
in the financial and capital markets.

	6.3		Without prejudice to the foregoing, for the specific purpose of enabling the credit
operations to be carried out by Getnet Sociedade de Crédito Direto S.A. (“Getnet SCD”), the Parties hereby
undertake to structure a securitization operation for receivables originated by Getnet SCD, in which Santander Brasil shall act as an
investor and shall provide the necessary funding for the continuous operation of Getnet SCD (“Securitization Structure”).

	6.3.1.		Alternatively to the Securitization Structure and upon prior mutual agreement, the Parties
may establish a Credit Rights Investment Fund (Fundo de Investimento em Direitos Creditórios or “FIDC”)
for the purpose of acquiring the receivables originated by Getnet SCD. In this context, Santander Brasil hereby agrees that it shall
be responsible for subscribing and paying in the quotas issued by the said FIDC, in order to capitalize the FIDC, which shall represent
a funding vehicle for Getnet SCD.

	6.3.2.		In the event of establishment of the FIDC, it is hereby established that the credit operations
originated by the FIDC shall be formalized via Bank Credit Certificate (Cédula de Crédito de Bancário or
“CCB”) and, in a subsequent act, the respective CCBs shall be acquired by the FIDC through an special endorsement
and without co-obligation by Getnet SCD in favor of the FIDC, keeping the same terms, conditions and interest executed by Getnet SCD
within the scope of the operation, pursuant to art. 29, § 1, of Law No. 10,931, of August 2, 2004, as amended.

	VII.		ORIGINATION OF SANTANDER CREDIT OPERATIONS

	7.1		Credit Origination. Within the scope of the Partnership, Getnet may prospect and identify
potential customers in its customer base (“Potential Customers”) who are interested in contracting Santander Credit
Operations (“Origination of Credit Operations”).

	7.1.1.		The disclosure and offer of Santander Credit Operations shall observe the instructions, guidelines,
as well as any technical and/or commercial aspects, previously and reasonably, provided by Santander Brasil.

	7.1.2.		Santander Brasil, in turn, undertakes to provide the instructions and/or information
strictly necessary for the proper promotion, disclosure and offer of Santander Credit Operations to the Potential Customers.

	7.2		Minimum Registration Data. The indication of Potential Customers referred to in the
section above shall involve, at least, the collection of the documents and/or information that Getnet is obliged to collect, pursuant
to the regulations in force, for the purposes of providing the accreditation services.

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	7.2.1.		Getnet undertakes to collect the registration data properly and in accordance with regulations
and legislation in force, in addition to being obligated to obtain from the Potential Customer, as applicable, the necessary authorizations
to promote the sharing of information with Santander Brasil. Therefore, Getnet shall keep the Potential Customer aware, in a clear and
adequate manner, of the purpose of collecting such data.

	7.2.2.		It is hereby established that Santander Brasil may, at its sole discretion, refuse Potential
Customers, according to its internal customer acceptance policies.

	7.2.3.		If Santander Brasil requests additional and necessary information for the acceptance of said
Potential Customer, Getnet undertakes to use its best efforts to obtain such information.

	7.2.4.		It is also hereby established that Getnet shall not be responsible for the accuracy and validity
of the information provided in relation to Potential Customers, and Santander Brasil shall be responsible for carrying out the necessary
analyzes and validations regarding the data of Potential Customers.

	7.3		Contracting and Formalization. Without prejudice to the obligations described above,
the Parties agree that the actual contracting of Santander Credit Operations shall be provided and formalized directly between Santander
Brasil and the Customer, in such a way that Getnet has no responsibility and/or obligation in relation to this step.

	7.3.1.		Once the formalization and contracting of Santander Credit Operations with the Potential
Customer has been completed, Santander Brasil agrees to communicate Getnet in writing, i.e., in a systemic manner and/or by exchanging
files.

	7.4		Compensation. In consideration for the Credit Operations Origination services, Getnet
shall be entitled to receive a compensation to be calculated based on the indications and actual Credit Operations generated in a given
period, for the benefit of Santander Brasil, with due regard for the specific terms and conditions set forth in Exhibit V to this
Agreement (“Compensation for Origination of Credit Operations”).

	7.5		Lack of Exclusivity. For clarification purposes, given the lack of exclusivity set
forth in Section 3.3 above, the Parties agree that Getnet may provide activities similar to those set forth in this Chapter to other
third parties, including financial institutions, without applying any liens or penalties.

	VIII.		GENERATION OF LEADS

	8.1		Generation of Leads. Within the scope of the Partnership, Getnet may identify Potential
Customers who are interested in contracting services from Santander Brasil (“Generation of Leads”).

	8.2		Minimum Registration Data. The indication of Potential Customers referred to in the
section above shall involve, at least, the submission of the documents and/or information that Getnet is obliged to collect, pursuant
to the regulations in force, for the purposes of providing the accreditation services.

	8.2.1.		Getnet undertakes to collect the registration data properly and in accordance with regulations
and legislation in force, in addition to being obligated to obtain from the Potential Customer, as applicable, the necessary authorizations
to promote the sharing of information with Santander Brasil. Therefore, Getnet shall keep the Potential Customer aware, in a clear and
adequate manner, of the purpose of collecting such data.

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	8.2.2.		It is hereby established that Santander Brasil may, at its sole discretion, refuse to market
the services, according to its internal customer acceptance policies.

	8.2.3.		If Santander Brasil requests additional and necessary information for the acceptance of said
Potential Customer, Getnet undertakes to use its best efforts to obtain such information.

	8.2.4.		It is also hereby established that Getnet shall not be responsible for the accuracy and validity
of the information provided in relation to Potential Customers, and Santander Brasil shall be responsible for carrying out the necessary
analyzes and validations regarding the data of Potential Customers.

	8.3		Contracting and Formalization. Without prejudice to the obligations described above,
the Parties agree that the actual contracting of the services shall be provided and formalized directly between Santander Brasil and
the Customer, in such a way that Getnet has no responsibility and/or obligation in relation to this step.

	8.3.1.		Once the formalization and contracting of the accreditation and/or current account services
with the Potential Customer has been completed, Santander Brasil agrees to communicate Getnet.

	8.4		Compensation. In consideration for the services of Generation of Leads, Getnet shall
be entitled to receive a compensation to be calculated based on the indications and actual contracts generated in a given period, for
the benefit of Santander Brasil, with due regard for the specific terms and conditions set forth in Exhibit VI to this Agreement
(“Compensation for Generation of Leads”).

	8.5		Lack of Exclusivity. For clarification purposes, given the lack of exclusivity set
forth in Section 3.3 above, the Parties agree that Getnet may provide activities similar to those set forth in this Chapter to other
third parties, including financial institutions, without applying any liens or penalties.

	IX.		GETNET REBATE

	9.1		Rebate. Getnet may grant incentives and/or special commercial conditions to certain
customers when contracting services related to the Acquiring Business, with the purpose of attracting and retaining such customers, including
in the context of the prospecting efforts set forth in Chapters VII and VIII above (“Getnet Rebate”). By way of clarification,
the Getnet Rebate may be granted both for acquisition purposes and for purposes of retaining Strategic Customers, including in cases
of renewal of an existing business relationship.

	9.1.1.		In the case of Getnet Rebate granted to Strategic Customers (as defined below), Santander
Brasil, by reason of its commercial interest in prospecting and/or retaining such customers by Getnet, undertakes to reimburse [...]
percent ([...]%) of the amounts disbursed and/or paid by Getnet as a Getnet Rebate, according to the conditions set forth in this Agreement
(“Rebate Reimbursement”).

	9.1.2.		For the purposes of this section, “Strategic Customers” shall be considered
as those who, cumulatively, [...]. Santander Brasil shall, within 30 Business Days counted as from the date hereof, inform Getnet which
customers are currently considered Strategic Customers and shall promptly, within 10 Business Days, inform Getnet of any inclusion or
exclusion from such list.

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	9.1.3.		The Getnet Rebate to be subject to the Rebate Reimbursement shall be limited to [...]% of
the total amount of the Transactions, on which the Merchant Discount Rate (MDR) charged by Getnet is levied, and shall be granted by
Getnet, upon deduction of the amounts owed by the Strategic Customer, as MDR. In cases where the compensation to be considered exceeds
[...]%, this percentage shall also be explicitly approved.

	9.2		Calculation and Reimbursement. The determination of the Getnet Rebate volume granted
to Strategic Customers, as well as the calculation and form of the Rebate Reimbursement, shall comply with the terms and conditions set
forth in Exhibit VII to this Agreement.

	9.3		Exceptions. There shall be no reimbursement, by Santander Brasil, when the granting
of the discount in Acquiring Business is made to a customer who is not a Strategic Customer or under conditions different from those
set forth in this Agreement.

	X.		COMPENSATION

	10.1		Compensation of the Parties. The Parties understand that the activities explored within
the scope of the Partnership present different commercial and financial rationales which, in turn, result in different forms and flows
of compensation. Therefore, it is established that the compensation of the Parties shall comply with the terms and conditions set forth
in the specific Exhibits of each line of business, according to the activities developed by each of the Parties and without prejudice
to the general rules set forth in this Section X.

	10.2		Calculation. The Parties undertake to use their best efforts to enable the calculation
and payment of the amounts due to the other Party within the scope of this Agreement, obliging themselves to:

	(i)		prepare standardized spreadsheets, covering in an understandable way the costs, expenses,
revenues and/or compensation, as the case may be, inherent to the activities explored within the scope of the Partnership;

	(ii)		provide, in a timely manner, the spreadsheets to the other Party, whenever necessary and/or
requested by it;

	(iii)		timely correct any errors and/or inconsistencies identified in said spreadsheets;

	(iv)		use in good faith and understandings with the other Party for the purpose of clarification
and mutual agreement regarding the amounts due under the terms of this Chapter X and the Exhibits to the Agreement.

	10.3		Conditions of Payment. The payment of the compensation, revenues, reimbursements and
other amounts arising from this Agreement shall be made by means of an Electronic Funds Transfer to the current account held by each
of the Parties, the transfer receipt serving as proof of payment of the amount due.

	10.3.1.		Each of the Parties shall issue the respective invoices for the provision of services provided
by it within the scope of the Partnership or other document agreed between the parties observing the legislation in force, in the calculated
amount and with due regard for the frequency of each service, which shall be sent for payment within ten (10) Business Days after receiving
the necessary data for issuance.

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	10.3.2.		In the event that Santander Brasil or Getnet, as the case may be, made an overpayment or
underpayment due to an error that is subsequently duly recognized by mutual agreement between the Parties, said amount (i) if overpaid,
shall be deducted from any future payments to be made by Santander Brasil to Getnet (or by Getnet to Santander Brasil, as the case may
be) or, if there is no sufficient payment flow to offset all the amounts, a reimbursement shall be made within thirty (30) days after
Santander Brasil or Getnet, as the case may be, is notified about it; or (ii) if underpaid, it shall be computed in the next calculation
period.

	10.4		Dispute Resolution. The Parties agree that, before starting an arbitration to resolve
any Dispute regarding any amounts due, they shall attempt to negotiate an amicable settlement agreement for said Dispute, within a period
not exceeding sixty (60) days counted as from the receipt by a party of notice on the existence of the Dispute, sent by the other Party.

	10.5		Fine for Default. In the event of a default on the monthly payment by Getnet or Santander
Brasil, as the case may be, should be added to the amount due, from the maturity date of the obligation payable, a fine of two percent
(2%), interest of one percent (1%) per month, calculated pro-rata-temporis from the maturity date to the actual payment date,
and adjustment for inflation by the General Market Price Index (IGPM) published by Fundação Getúlio Vargas.

	XI.		OBLIGATIONS OF THE PARTIES

	11.1		Obligations of the Parties. Without prejudice to the other obligations set forth in
this Agreement, each of the Parties undertakes to, throughout the term of this instrument:

	(i)		make all necessary efforts to enable the Partnership;

	(ii)		carry out its activities set forth in this Agreement with quality, diligence and prudence,
as well as fully comply with the terms and conditions of the exhibits hereof;

	(iii)		provide and maintain the structures and systems necessary to enable the subject matter of
the Partnership;

	(iv)		provide qualified professionals to carry out the activities defined in this Agreement, ensuring
a professional, agile, gentle and ethical service to customers and Potential Customers, as well as preserving the good image and reputation
of the other Party;

	(v)		observe, respect and comply with any and all laws, regulations and instructions applicable
to their respective activities, including, but not limited to, the consumer protection rules, the rules and regulations issued by the
Central Bank;

	(vi)		keep the other Party informed about any relevant matter of its knowledge that implies a change
in any of the activities subject matter of this Agreement, especially the occurrence of any bankruptcy, reorganization or liquidation
process;

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	(vii)		correctly and timely pay its labor and social security obligations related to its employees,
as well as any charges, fees and contributions related to its partners, employees and its activity, providing to the other Party or to
the relevant authorities, whenever required with plausible justifications, copies of the respective receipts and forms for proof of good
standing. In the event of any dispute arising from its labor and social security obligations relating to its employees, keep the other
Party automatically exempt from any liability;

	(viii)		provide the other Party with all information, documents and other materials reasonably requested
for the good and faithful performance of its activities set forth in this Agreement, provided that if the other Party is required to
submit any information regarding the Partnership to any regulatory authority, including, but not limited to, the Central Bank and the
Brazilian Federal Revenue Office, each Party undertakes to use its best efforts to assist the other Party in performing this obligation,
providing the information and documents that are of its knowledge or that are in its possession, within five (5) Business Days counted
after receiving the express request of the other Party in this regard;

	(ix)		be fully responsible for obtaining the relevant regulatory authorizations necessary for the
purposes of the activities set forth in this Agreement; and

	(x)		fully comply with the LGPD and the Bank Secrecy Act.

	11.2		Good Faith. The Parties undertake to act in good faith, being diligent and taking
all reasonably necessary measures to comply with their responsibilities set forth this Agreement.

	XII.		USE OF TRADEMARKS

	12.1		Use of Trademarks. The Parties agree that, within the scope of this Agreement, their
respective trademarks may be used, in accordance with applicable law, acknowledging and agreeing that:

	(a)		Any and all forms of use of the other Party’s trademarks shall be, previously and expressly,
approved by the Party to which the respective trademark belongs, under penalty of indemnification for the losses and damages suffered
by the aggrieved Party;

	(b)		It is forbidden for a Party to assign, license, sell, trade or otherwise transfer the use
of the other Party’s trademark to any third parties, as well as assist third parties to contest or, in any way, impair, directly
or indirectly, the validity of the name and trademarks of the other Party;

	(c)		Each of the Parties must ensure the good use of the other Party’s trademark and undertake
to prevent the use of the other Party’s trademark in operations or services: (i) offensive or harmful to ethics, morals and good
customs; and/or (ii) that may denigrate the integrity and reputation of the Trademark; and/or (iii) that in any way result in violation
of the provisions of the Brazilian law, especially those referring to consumer protection; and

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	(d)		It shall not use the other Party’s Trademark in a way different from that approved
by the Party to which the respective trademark belongs, provided that such authorization must be understood in a restrictive manner.

	12.2		Santander Brasil Obligations. Without prejudice to the foregoing and unless otherwise
agreed between the Parties, Santander Brasil agrees to use the name and trademarks of Getnet solely and exclusively to promote and/or
enable the services, solutions and activities explored within the scope of the Partnership, respecting the characteristics of the trademarks,
Getnet’s intellectual property rights and the applicable legislation.

	12.3		Getnet Obligations. Without prejudice to the foregoing and unless otherwise agreed
between the Parties, Getnet agrees to use the name and trademarks of Santander Brasil solely and exclusively to promote and/or enable
the services, solutions and activities explored within the scope of the Partnership, respecting the characteristics of the trademarks,
Santander Brasil’s intellectual property rights and the applicable legislation.

	XIII.		TERM OF EFFECTIVENESS

	13.1		Term of Effectiveness. The terms of this Agreement are retroactive as from January
1st, 2021, and shall continue in full force and effect for an indefinite period.

	13.2		Notice. Any Party hereto may terminate this Agreement, without cause, at any time,
upon prior written notice to the other Party, at least one (1) year in advance, without the Party incurring, in this case, any expenses
and/or penalties, whether by way of indemnification, fine or any other claim, being only due the performance by the Parties of all obligations
arising up to the last day of effectiveness of the prior notice.

	13.3		Termination. Any non-breaching Party may terminate this Agreement, upon simple notice
to the other Party, in the following cases:

	(i)		Adjudication of bankruptcy, file for court or out-of-court reorganization, as well as liquidation
process of the other Party;

	(ii)		Declared insolvency of the other Party;

	(iii)		Revocation of any license issued by a governmental authority, which is mandatory for the
provision or continuity of the subject matter of this Agreement;

	(iv)		Enactment of laws or regulations, or issuance of a governmental order prohibiting one or
more of the Parties from complying with their obligations under this Agreement;

	(v)		Assignment or transfer of this Agreement by one of the Parties without the prior consent
of the other Party; or

	(vi)		In the event of non-compliance, by any of the Parties, with any of the sections of this instrument,
not remedied in accordance with the procedure set forth in Section 13.3.1 below, without prejudice to the indemnification for losses
and damages arising from the breach of contract, determined by means of own judicial measure.

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	13.3.1.		In the event of breach of contract set forth in item 13.3(vi) above, by any of the Parties,
the non-breaching Party shall notify the breaching Party, warning of the breach of this Agreement and summoning the breaching Party to
comply with its obligation within a maximum period of fifteen (15) days, under penalty of unilateral termination.

	13.4		Transition Process. In the event of termination of this Agreement, for any reason,
the Parties undertake to use joint efforts to implement a transition plan for the services and/or activities subject matter of this Agreement
to other partners and/or institutions (“Transition Process”).

	13.4.1.		By way of clarification, said Transition Process shall involve all the necessary adjustments
for the complete transfer of activities, including operational, commercial and contractual adjustments. If the Parties deem it necessary
and by mutual agreement, the term of effectiveness of the Agreement may also be extended in order to enable the completion of the Transition
Process.

	XIV.		INDEMNIFICATION

	14.1		Indemnification. Each Party (“Indemnifying Party”) irrevocably
and irreversibly agrees to defend, indemnify and hold the other Party, its shareholders, partners, Affiliates, employees, managers, representatives,
successors and assignees (“Indemnified Party”) harmless and safe from and against any and all loss, direct damage,
contingency, indemnity, demand, action, legal and/or administrative proceeding, liability, obligation, penalty, fine, loss, cost, expenses,
losses, interest and fees (including costs of preparation and investigation, attorneys’, consultants’ or other experts’
fees and costs of loss of suit) (“Losses”) that may be caused by the Indemnifying Party, its employees, service providers
and/or third party subcontractors, as a result of the respective activities performed within the scope of this Agreement, including,
but not limited to:

	(i)		any act, fact or omission attributable to the Indemnifying Party, its managers, shareholders,
partners, employees, affiliates, successors, agents and representatives on any account;

	(ii)		non-compliance, in whole or in part, with any obligation set forth in this Agreement by the
Indemnifying Party;

	(iii)		acts, facts, omissions of any nature, which refer to activities individually developed by
the Indemnifying Party outside the scope of this Agreement;

	(iv)		operational or service failures in accordance with the terms and conditions of this Agreement;
or

	(v)		performance of a manifestly illegal and unlawful act by the Indemnifying Party.

	14.2		The obligation of the Indemnifying Party to defend, indemnify and hold the Indemnified Party
harmless in relation to any and all events mentioned above shall apply to any proceeding, claim or any demand, of any nature, made by
any third party, including but not limited to, by the relevant authorities, by the institutions of payment arrangements and/or by the
consumer protection bodies against the Indemnified Party, provided that the terms and conditions of this Section XIV are observed.

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	14.3		The obligations set forth in this Section XIV shall survive even after the termination of
this Agreement, whether as a result of lapse of time, early maturity and/or any other reason.

	14.4		The Parties agree that the duty to indemnify referred to in this Section XIV shall only be
due after the decision of the action that has determined the payment of funds by the Indemnified Party becomes final and unappealable.
Until the decision becomes final and unappealable, no amount shall be owed by the Indemnifying Party to the Indemnified Party.

	14.5		With due regard for the provisions above, the reimbursement by the Indemnifying Party to
the Indemnified Party shall occur within thirty (30) days after receiving the notice for such purpose sent by the Indemnified Party.

	14.6		Without prejudice to the foregoing, the Parties establish that the obligations to indemnify
set forth herein do not cover indirect damages and loss of profits.

	XV.		CONFIDENTIALITY

	15.1		Confidentiality. The Parties acknowledge that each Party and their respective employees
and/or subcontractors (“Recipient Party”) may have access to proprietary or confidential information of the other
Party by reason of the performance of the obligations set forth in this Agreement (“Disclosing Party”), of their respective
customers and any other third parties relating to the operations and business of the Disclosing Party, including, but not limited to,
secrets or financial, operational, economic, technical or legal information, opinions or other documents of the Disclosing Party contained
in any physical or digital media, regardless of confidentiality notice or otherwise provided orally (“Confidential Information”),
it being hereby established that the (i) Confidential Information may only be disclosed to current or future partners, managers, attorneys-in-fact,
consultants, agents, employees and subcontractors of the Recipient Party who need access to Confidential Information by reason of the
performance of the obligations set forth in this Agreement (“Representatives”); (ii) disclosure to third parties,
directly or indirectly, in whole or in a party, individually or jointly, in Brazil or abroad, by any means, of any Confidential Information
shall depend on the prior and express written authorization of the Disclosing Party; and (iii) Confidential Information may not be used
for purposes other than those expressly defined in this Agreement.

	15.1.1.		If any of the Parties or any of their Representatives are required, by virtue of law, court
decision or by determination of any governmental authority, to disclose any Confidential Information, such Party, without prejudice to
timely compliance with the legal or administrative determination, shall, unless prevented as a result of a certain court order or rule,
send notice to the other Party regarding this obligation, as soon as possible, so that the Parties may, by mutual agreement, take the
appropriate measures, including judicial measures, to preserve the Confidential Information. If the measures taken to preserve the Confidential
Information are not successful, only the Confidential Information strictly necessary to the satisfaction of the legal duty and/or compliance
with a court order or of any relevant authority for disclosing the information shall be disclosed.

	15.1.2.		The following information is excluded from the confidentiality commitment: (i) available
to the public in a way other than through disclosure by any of the Parties or by any of their Representatives; (ii) that were already
known to the other Party or any of its Representatives prior to the disclosure of said information as a result of this Agreement; and
(iii) that have been proven and independently developed without the use or reference to the Confidential Information.

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	15.1.3.		The confidentiality obligations set forth in this Agreement shall remain in force during
the term of effectiveness this Agreement, as well as for an additional period of five (5) years from its respective termination.

	15.1.4.		All Confidential Information disclosed within the scope of this Agreement shall remain in
the exclusive possession and property of the Disclosing Party, provided that, upon termination hereof, shall be returned to the Disclosing
Party or destroyed with due proof of destruction, at the discretion of the latter, upon written request to the Recipient Party.

	XVI.		ANTI-CORRUPTION

	16.1		The Parties represent that they, their Affiliates and their shareholders, directly or indirectly
3⁄4 even through their executives, directors, employees, representatives, third parties or
agents of any nature 3⁄4 have never disrespected the Anticorruption Laws, as well as they
have never made or authorized any offer, payment, promise of payment or authorization to pay any monetary value or anything else of value,
including travel, gifts or entertainment, to any Public Agent or person who, in any way, appeared or could represent a Public Agent;
as well as any offer of any monetary value or anything else of value paid was never made, in their interest or for their benefit, to
any Public Agent or person who, in any way, appeared or could represent a public agent for the purpose of:

	(i)		influence any act or decision;

	(ii)		induce the performance or omission of the performance of any act, including its postponement
or advance; or

	(iii)		induce a Public Agent to use its influence with a governmental authority or affect or influence
any act or decision of such governmental authority or Public Agent.

	16.2		Likewise, the Parties, their Affiliates, and their partners/shareholders, directly or indirectly
3⁄4 through their executives, directors, employees, representatives, or agents of any nature,
including any third party who has already acted on their behalf or for their benefit 3⁄4
have never incurred and shall continue not to incur any payment, offer or promise of payment, of any amounts or anything of value, in
exchange for any improper benefit to the business of the Parties or companies related to them, as well as they have never performed any
act harmful to the public administration.

	16.3		Along the same line, the Parties, their Affiliates, and their partners/shareholders, represent
that they comply with all measures to prevent breaches of integrity required or recommended by the anticorruption laws and that they
have never been prosecuted or investigated in any level by the alleged performance of acts punished by the Anticorruption Laws, as well
as they have never heard of any news, even if unofficially, that in any way involved them in the performance or investigation of violations
of said Anticorruption Laws.

	XVII.		GENERAL PROVISIONS

	17.1		Entire Agreement. This Agreement governs and contains all the final provisions and
negotiations between the Parties in relation to the matters discussed herein, superseding any other written or oral documents, contracts
or understandings previously executed, which have the same or part of the subject matter of this Agreement. In particular, the Parties
hereby resolve, by mutual agreement and without any penalties for any of the Parties, that this Agreement shall revoke and supersede,
in full and immediately, the following instruments in force and entered into by and between the Parties:

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	(i)		Profit Sharing Agreement entered into, on July 24, 2015, by and between Santander Brasil,
Getnet and, as an intervening consenting party, Interzat Participações Societárias Ltda., as amended on February
25, 2019;

	(ii)		Partnership Agreement - Reimbursement - Santander Integrated Account entered into by and
between Santander Brasil and Getnet, on August 19, 2016; and

	(iii)		Accreditation Business Transfer Commercial Agreement and Other Covenants entered into by
and between Santander Brasil and Getnet, on August 19, 2016.

	17.2		Without prejudice to the other obligations set forth in this Agreement, the Parties agree
to observe and fully comply with the sections contained in Exhibit IX to this Agreement, which is an integral and inseparable
part to this Agreement.

	17.3		Assignment. Neither Party may assign or transfer, in whole or in part, its rights
and obligations arising from this Agreement, without the prior written consent of the other Party.

	17.4		Amendments. This Agreement may only be validly amended provided that it is in writing,
duly executed by the legal representatives of both Parties.

	17.5		Binding nature and succession. This Agreement is irrevocably executed, and its obligations
are legal, valid and binding on the Parties and their successors and heirs, on any account, and enforceable according to the terms hereof.

	17.6		Waiver. Failure to exercise any rights or agreement with the failure to comply with
any terms or conditions under this Agreement shall not constitute a waiver of any rights under this Agreement nor shall it prevent the
said Party from executing or exercising any of these rights at any time.

	17.7		Forbearance. No forbearance or delay by any of the Parties in enforcing or demanding
the performance of the rights and obligations agreed in this Agreement shall constitute a novation or precedent of any nature. Such forbearance
shall not impair or restrict the exercise of the same rights and obligations in similar future situations, as well as it shall not, in
any case, exempt any of the Parties from the full performance of their obligations as agreed and set forth herein.

	17.8		Severability. In the event that any section, term or provision of this Agreement is
considered invalid or unenforceable, such invalidity or unenforceability shall not affect any other sections, terms or provisions contained
herein, which shall remain in full force and effect.

	17.9		Powers of Representation. The Parties, as well as their respective legal representatives,
represent that they are duly authorized to sign and execute this Agreement, pursuant to their respective social instruments.

	17.10		Communications. All notices, communications, notifications, waivers or consents set
forth in this Agreement shall be in writing and sent by certified mail, or by any other means that allows proof of receipt by the Parties,
including by email, provided that upon virtual proof of receipt. The address for communication is defined below, and any change of address
of one of the Parties must be communicated to the other through written communication, in accordance with the provisions of this section.

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SANTANDER BRASIL (BRASIL) S.A.:

Address: Avenida Presidente Kubitschek, n°
2.041 e 2.235, Bloco A, Vila Olímpia

São Paulo, SP

CEP 04543.011

E-mail: raribeiro@santander.com.br

To the Attention of: Reginaldo Antonio Ribeiro

GETNET ADQUIRÊNCIA E SERVIÇOS PARA MEIOS DE PAGAMENTO
S.A.:

Av. Pres. Juscelino Kubitschek, 2041 - cj 121,
Bloco A Cond. WTORRE JK - Vila Nova Conceição

São Paulo, SP

CEP 04543-011

E-mail: planejamento_financeiro@getnet.com.br

To the Attention of: Felipe Silva Marçal

	17.11		Taxes. The Parties hereby agree that the payment of all federal, state and municipal
taxes, social charges and others arising from tax, labor, social security or related legislation, charged as a result of this Agreement
or in any way connected to it, shall be borne by Party defined as a taxpayer by the laws and regulations in the manner established therein.

	XVIII.		APPLICABLE LAW AND DISPUTE RESOLUTION

	18.1		Governing Law. This Agreement shall be governed by the laws of the Federative Republic
of Brazil.

	18.2		Dispute Resolution. The Parties expressly agree that any controversies, disputes or
claims arising, among others, from the existence, validity, effectiveness, interpretation, compliance, implementation, termination or
breach of this Agreement or in any way related hereto (including with respect to its exhibits and the existence, validity and effectiveness
of this arbitration clause), and any legal relationships associated with this Agreement (“Disputes”) shall be finally
settled by arbitration, as set forth in Exhibit VIII to this Agreement.

	XIX.		SIGNATURES

	19.1		The Parties expressly acknowledge the veracity, authenticity, integrity, validity and effectiveness
of this Agreement and its exhibits, formed in digital media, and agree to use and acknowledge, as a valid expression of consent, its
signature in electronic format and/or by means of electronic certificates, including those that use certificates not issued by ICP-Brasil,
pursuant to art. 10, § 2, of Provisional Measure No. 2,200-2, of August 24, 2001.

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	19.2		The Parties further represent their knowledge and express agreement that this Agreement may
be signed digitally, electronically or by hand, or even in a mixed manner, in the latter case, two different forms of signature may be
used, and the representations contained in this Agreement, signed by any of the above-elected means, including the mixed form, shall
be presumed to be true in relation to the Parties, pursuant to articles 219 and 225 of Law no. 10,406/02 (Civil Code), as well as that
expressed in Provisional Measure No. 2,200-2, of August 24, 2011, as applicable.

	19.3		The Parties, for the purposes of validity and legal effectiveness of the digital and/or electronic
signatures chosen above, inform the electronic addresses in section 17.10 of this Agreement, which, once used, shall be assumed to be
true in relation to the Parties, making the provisions of this Agreement suitable, firm and agreed in relation to any agreement signed
between the Parties.

In Witness Whereof, the Parties execute this
instrument in two (2) counterparts of equal content and form, in the presence of the two (2) undersigned witnesses.

São Paulo, April 16, 2021.

[remainder of the page intentionally left
blank]

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[This signature page is an integral and inseparable
part to the Business Partnership Agreement and Other Covenants, entered by and between Santander Brasil (Brasil) S.A. and Getnet Adquirência
e Serviços para Meios de Pagamento S.A., on April 16, 2021]

SANTANDER BRASIL (BRASIL) S.A.

/s/ Reginaldo Antonio Ribeiro /s/ Alessandro
Tomao /s/ Marcelo Labuto

GETNET ADQUIRÊNCIA E SERVIÇOS
PARA MEIOS DE PAGAMENTO S.A.

/s/ Gustavo Bahia Gama Sechin /s/ Pedro Coutinho

Witnesses:

	
    /s/ Tatiana Kava
	 	
    /s/ Fernanda Castro Ouriques

	Name:  Tatiana Kava	 	Name:  Fernanda Castro Ouriques
	RG:  2810244 SSP-SC	 	RG: 4091194995

 

 

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EXHIBIT I

(Net Result of RAV Business)

	I		– CALCULATION OF THE NET RESULT OF RAV BUSINESS

	1.		Without prejudice to the other obligations set forth in the Agreement, this Exhibit regulates
the main terms and conditions applicable to the Net Result of RAV Business within the scope of the Partnership.

	2.		The Parties undertake to comply with the terms and conditions set forth herein in a cumulative
manner with the general rules set forth in the Agreement, in particular, those set forth in Chapter X. In the event of any conflict between
the rules set forth herein and the general conditions contained in the Agreement, the rules contemplated in this Exhibit shall prevail,
in what is specific and related to the calculation of the Net Result of RAV Business.

	3.		The Net Result of RAV Business consists of the total revenue arising from the Prepayment
of Receivables conducted by Santander Brasil with the ECs, as a result of this Partnership, less any costs and expenses inherent to the
Prepayment of Receivables and borne by Santander Brasil.

	4.		Revenues (accounted for on an accrual basis) shall be considered as those arising from the
performance of Prepayment of Receivables operations.

	5.		Expenses (accounted for on an accrual basis) shall be considered as:

		(i)	Acquiring expenses: all costs incurred by Santander Brasil to transfer funds to other banks as a result
of the acquisition activities and provision of payment method services carried out by Getnet. The acquiring expenses shall be calculated
taking into account: (a) fees with interbank operations; (ii) costs with the Interbank Payment Clearing House (CIP); and (iii) costs with
processing of operations; and

		(ii)	Expenses with the Prepayment of Receivables business: (a) the cost incurred by Santander Brasil in raising
the funds necessary to finance the Prepayment of Receivables operations, including the fees and charges inherent to the operation, but
not limited to the tax cost and the cost related to the Brazilian Deposit Insurance Fund (Fundo Garantidor de Crédito or
FGC) (Funding Cost); (b) the costs incurred by Santander Brasil with technology systems for the development of RAV activities, considered
pro rata to the volume that RAV activities in the Partnership Channels represent in the total volume of RAV operations carried
out by Santander Brasil; (c) all direct taxes levied on revenues from RAV operations in the Partnership Channels, as provided for in the
legislation in force; (d) the costs incurred by Santander Brasil to transfer funds to other banks as a result of RAV activities carried
out in the Partnership Channels; and (e) Santander Brasil’s operating losses related to RAV operations, considered pro rata
to the volume that RAV activities in the Partnership Channels represent of the total volume of RAV operations carried out by Santander
Brasil.

    	23 

    	 

    

	6.		For the purposes of Getnet’s control of the Net Result of RAV Business, Santander Brasil
shall prepare separate financial statements (“RAV Statement”) and monthly Management Reports that shall be sent, together
with the RAV Statement, to Getnet by the last business day of the month following the calculation (“Delivery Date of the Statements”),
according to the model agreed between the Parties.

	7.		The monthly calculation of the Net Result of RAV Business from the Prepayment of Receivables
operations shall be made pursuant to Chapter X of this Agreement, with due regard for the revenues and expenses set forth in this Exhibit.

	II		– FINANCIAL SETTLEMENT

	8.		The result of RAV Business calculated according to the above rules shall be fully attributable
to Getnet, i.e.:

		(i)	if the Result of RAV Business is greater than zero (profit), Santander Brasil shall pay Getnet
the calculated amount; and/or

		(ii)	if the Result of RAV Business is less than zero (loss), Getnet shall pay Santander Brasil the calculated
amount.

	9.		Payments for the settling of accounts shall be made, in national currency, from Santander
Brasil to Getnet, or from Getnet to Santander Brasil, as the case may be, within the periods indicated below, counted as from the date
of delivery of RAV Statement:

		(i)	10th business day: DRE submission (memory-aid spreadsheet) by Santander Brasil’s finance department;

		(ii)	11th business day: submission of the result transfer summary spreadsheet by Getnet;

		(iii)	13th business day: verification, validation and release for issuing the invoice by Santander Brasil’s
department of operations;

		(iv)	13th business day: issue of invoice by Getnet;

		(v)	14th business day onwards: the accounts payable department (GCP) shall have an average period of 7 to
10 business days for receipt, accounting via SAP, approval and payment with maturity date scheduled for the last day of the month.

	10.		In the event that Santander Brasil or Getnet, as the case may be, made an overpayment or
underpayment for settling of accounts relating to the Result of RAV Business due to an error that is subsequently duly recognized by
mutual agreement between the Parties, said amount (i) if overpaid, shall be deducted from any future payments to be made by Santander
Brasil to Getnet (or by Getnet to Santander Brasil, as the case may be) or, if there is no sufficient payment flow to offset all the
amounts, a reimbursement shall be made within thirty (30) days after Santander Brasil or Getnet, as the case may be, is notified about
it; or (ii) if underpaid, it shall be computed in the next calculation period.

    	24 

    	 

    

EXHIBIT II

(Description of Getnet Products)

Without prejudice to others that may be agreed
between the Parties, through electronic mail, it is hereby established that Getnet Products shall cover the following services and solutions:

	(i)		Payment Services in a Physical Environment:

		a)	Sale or lease of Acquiring Equipment, including, but not limited to, POS and PinPads;

		a)	Integrated solutions;

		b)	Auttar Services;

	(ii)		Payment Services in a Digital Environment:

		a)	Integration methods;

		b)	Fraud management tool;

		c)	Digital safe box;

		d)	Recurrence tool;

		e)	Payment split;

		f)	Online store;

		g)	GetPay;

		h)	Getdata;

		i)	Support for alternative payment methods;

		j)	Marketplace.

    	25 

    	 

    

 

EXHIBIT III

(Santander Counter Service Compensation)

	1.		Without prejudice to the other obligations set forth in the Agreement, this Exhibit regulates
the main terms and conditions applicable to the Santander Counter Service Compensation within the scope of the Partnership.

	2.		The Parties undertake to comply with the terms and conditions set forth herein in a cumulative
manner with the general rules set forth in the Agreement, in particular, those set forth in Chapter X. In the event of any conflict between
the rules set forth herein and the general conditions contained in the Agreement, the rules contemplated in this Exhibit shall prevail,
in what is specific and related to the Santander Counter Service Compensation.

	3.		In consideration for the provision of Distribution services via Santander Counter Service,
Santander Brasil shall be entitled to a monthly fee, corresponding to [...]% of the Eligible Billing (as defined below) of the relevant
month.

	3.1.		For the purposes of this Agreement, “Eligible Billing” means the amount of billing
calculated for the Merchants, in the period of one month, whose revenue with the Net Merchant Discount Rate (MDR) generated by the Merchants
collected through Distribution via Santander Counter Service, discounted from the fee of the brand (institution of payment arrangements)
and from any other commercial incentives paid and/or disbursed by Getnet, such as discounts and rebates, is positive after applying the
compensation of [...]% defined as Santander Counter Service Compensation.

	4.		The calculation and payment of the Santander Counter Service Compensation shall observe the
following schedule:

		(i)	10th Business Day of each month: submission of a spreadsheet to Santander Brasil, by Getnet, with a statement
of the Net MDR verified in the previous month;

		(ii)	12th Business Day of each month: validation of the spreadsheet with a statement of the Net MDR by Santander
Brasil’s department of operations;

		(iii)	15th Business Day of each month: issue of invoice by Santander Brasil for payment by Getnet;

		(iv)	20th Business Day of each month: payment by Getnet.

	5.		The payment of the amounts owed to Santander Brasil as Santander Counter Service Compensation
shall observe the general rules contained in Section X of this Agreement.

    	26 

    	 

    

EXHIBIT IV

(Offers, Sale and Lease Reimbursement)

	I		– CALCULATION OF THE VOLUME OF SPECIAL CONDITIONS

	1.1		The Parties agree that Getnet shall be responsible for calculating, on a monthly basis, (i)
the volume of discounts granted on the lease of Means of Capture or on other Getnet Products by reason of the Special Conditions of Santander
Integrated Account; (ii) the number of Means of Capture sold and the respective subsidized amounts; and (iii) the differences
in rates charged for the MDR and Prepayment of Receivables, in addition to monthly sending to Santander Brasil a statement, pursuant
to the section below, for Santander Brasil to validate the amounts calculated for the payment of the Sale and Lease Reimbursement to
Getnet, under the terms set forth herein.

	1.2		The aforementioned statement shall observe the model to be defined between the Parties and
present: (i) the number of customers who have Means of Capture with lease discounts granted by reason of the Special Conditions of Santander
Integrated Account; (ii) the amount corresponding to the sum of the lease amounts charged in the Means of Capture with discounts granted
by reason of the benefits of Santander Integrated Account; (iii) the amount of the Sale and Lease Reimbursement to be paid by Santander
Brasil to Getnet, according to the percentages established in section 2 below (“Sale and Lease Reimbursement Statement”);
(iv) the MDR and Prepayment of Receivables rates charged in the Retail segments that are below the parameters defined in the Combo or
Insert Offers.

	II		– CONDITIONS OF THE REIMBURSEMENT

	2.1		The Sale and Lease Reimbursement shall be limited to [...] percent ([...]%) of the sum of
the lease amounts of the Means of Capture and the subsidized portion of the Means of Capture sold at Santander Counter Service at the
time of accreditation, which include discounts granted by reason of the Special Conditions of Santander Integrated Account, or other
offers jointly made between Santander Brasil and Getnet. The MDR and Prepayment of Receivables Rate Reimbursement shall be limited to
[...] percent ([...]%) of the difference in the amounts earned between the rates calculated in relation to those charged when compared
to the Combo or Insert Offers.

	2.2		Except for the benefits, incentives and/or discounts granted in the context of the Getnet
Rebate for purposes of retaining or conquering Strategic Customers, there shall be no reimbursement when the granting of the discount
in the Means of Capture is carried out directly by Getnet by reason of commercial negotiation/agreement made by it with the ECs. Getnet
is responsible for informing in the said Statement the ECs that may have been awarded such discount.

	Ill		– CALCULATION AND PAYMENT OF THE REIMBURSEMENT

	3.1		The calculation and payment of the Sale and Lease Reimbursement shall observe the following
schedule:

    	27 

    	 

    

		(i)	10th Business Day of each month: submission of a spreadsheet, by Getnet to Santander Brasil,
with the Lease Reimbursement Statement in relation to the previous month;

		(ii)	15th Business Day of each month: validation by Santander Brasil of the submitted spreadsheet;

		(iii)	Up to the 5th of the following month: payment by Santander Brasil of the Lease Reimbursement
amount.

    	28 

    	 

    

 

EXHIBIT V

(Compensation for Origination of Credit Operations)

	1.		Without prejudice to the other obligations set forth in the Agreement, this Exhibit regulates
the main terms and conditions applicable to the Compensation for Origination of Credit Operations within the scope of the Partnership.

	2.		The Parties undertake to comply with the terms and conditions set forth herein in a cumulative
manner with the general rules set forth in the Agreement, in particular, those set forth in Chapter X. In the event of any conflict between
the rules set forth herein and the general conditions contained in the Agreement, the rules contemplated in this Exhibit shall prevail,
in what is specific and related to the Compensation for Origination of Credit Operations.

	3.		In consideration for the provision of Credit Operations Origination services, Getnet shall
be entitled to a monthly compensation, corresponding to [...] percent ([...]%) of the total volume of Credit Operations originated by
it in the immediately preceding month.

	6.		The calculation and payment of the Compensation for Origination of Credit Operations shall
observe the following schedule:

		(i)	10th Business Day of each month: submission of a spreadsheet, by Santander Brasil to Getnet,
with a statement of the Credit Operations originated by it in the previous month;

		(ii)	15th Business Day of each month: validation by Getnet of the submitted spreadsheet;

		(iii)	Up to the 5th of the following month: issue of invoice by Getnet for payment by Santander Brasil;

		(iv)	Up to the 10th of the following month: payment by Santander Brasil.

	7.		The payment of the amounts owed by Santander Brasil to Getnet as Compensation for Origination
of Credit Operations shall observe the general rules contained in Section X of this Agreement.

    	29 

    	 

    

 

EXHIBIT VI

(Compensation for Generation of Leads)

	1.		Without prejudice to the other obligations set forth in the Agreement, this Exhibit regulates
the main terms and conditions applicable to the Compensation for Generation of Leads within the scope of the Partnership.

	2.		The Parties undertake to comply with the terms and conditions set forth herein in a cumulative
manner with the general rules set forth in the Agreement, in particular, those set forth in Chapter X. In the event of any conflict between
the rules set forth herein and the general conditions contained in the Agreement, the rules contemplated in this Exhibit shall prevail,
in what is specific and related to the Compensation for Generation of Leads.

	3.		In consideration for the provision of services of Generation of Leads, Getnet shall be entitled
to a monthly compensation according to the number and modality of leads generated that have resulted in new Santander Brasil customers
in the immediately preceding month, with due regard for the table below:

	Segment	Price (R$)
	[...]	[...]
	[...]	[...]
	[...]	[...]

* [...]

	4.		The calculation and payment of the Compensation for Generation of Leads shall observe the
following schedule:

		(i)	10th Business Day of each month: submission of a spreadsheet, by Santander Brasil to Getnet,
with a statement of the leads generated that have resulted in new Santander Brasil customers in the previous month;

		(ii)	12th Business Day of each month: validation by Getnet of the submitted spreadsheet;

		(iii)	15th Business Day of each month: issue of invoice by Getnet for payment by Santander Brasil;

		(iv)	20th Business Day of each month: payment by Santander Brasil.

	5.		The payment of the amounts owed by Santander Brasil to Getnet as Compensation for Generation
of Leads shall observe the general rules contained in Section X of this Agreement.

    	30 

    	 

    

EXHIBIT VII

(Getnet Rebate and Rebate Reimbursement)

	I		– CALCULATION OF THE VOLUME OF GETNET REBATE

	1.1.		The Parties agree that Getnet shall be responsible for calculating, on a monthly basis, the
volume of the Getnet Rebate granted to Strategic Customers, and monthly sending to Santander Brasil a statement, pursuant to the section
below, for Santander Brasil to validate the amounts calculated for the purposes of Rebate Reimbursement to Getnet, under the terms set
forth herein.

	1.2.		The aforementioned statement must observe the model to be defined between the Parties and
present: (i) the number of customers who benefit from Getnet Rebate within the scope of the Acquiring Business; (ii) the total amount
corresponding to the discounts granted as a Getnet Rebate; (iii) the amount of the Rebate Reimbursement to be paid by Santander Brasil
to Getnet, according to the percentage established in section 2.1 below (“Rebate Reimbursement Statement”).

	II		– PAYMENT CONDITIONS OF THE REBATE REIMBURSEMENT

	2.1		The Rebate Reimbursement shall correspond to [...] percent ([...]%) of the sum of the Getnet
Rebate granted to Strategic Customers.

	2.2		The calculation and reimbursement of Getnet Rebate must observe the following schedule:

		(i)	15th Business Day of each month: submission of a spreadsheet, by Getnet to Santander Brasil, with the
Rebate Reimbursement Statement in relation to the previous month;

		(ii)	18th Business Day of each month: validation by Santander Brasil of the submitted spreadsheet;

		(iii)	5th Business Day of each subsequent month: payment by Santander Brasil of the Rebate Reimbursement amount.

    	31 

    	 

    

EXHIBIT VIII

(Dispute Resolution Procedure)

	1.		Amicable Solution. The Parties agree that, before starting an arbitration to resolve
any Dispute, they shall attempt to negotiate an amicable settlement agreement for said Dispute, within a period not exceeding twenty
(20) Business Days counted as from the receipt by a Party of notice on the existence of the Dispute, sent by the other Party.

	2.		Arbitration. Upon expiry of the period established in item (i) above or if it is impossible
to obtain an amicable solution, the Interested Party shall submit the Dispute to arbitration, before the Arbitration and Mediation Center
of the Brazil-Canada Chamber of Commerce (“CCBC”), according to the CCBC Arbitration Rules in force on the date of
the request for the commencement of arbitration (“CCBC Rules”), with the exception of the changes set forth herein.
Any dispute related to the commencement of the arbitration shall be settled in a final and binding manner by the arbitrators according
to this Section 2.

	3.		Tribunal Composition. The arbitration proceeding shall be conducted by an arbitration
tribunal (“Arbitration Tribunal”), composed of three (3) arbitrators, with one (1) arbitrator being appointed by the
plaintiff and one (1) arbitrator being appointed by the defendant. If there is more than one plaintiff and/or more than one defendant,
the plaintiffs and/or defendants shall jointly appoint their respective arbitrator. The two (2) arbitrators thus appointed shall appoint,
by mutual agreement, the third arbitrator, who shall act as the chairman of the Arbitration Tribunal, within the period provided for
in the CCBC Rules. If any of the three (3) arbitrators is not appointed within the period provided for in the CCBC Rules, CCBC shall
be responsible for appointing him/her/them according to the CCBC Rules. Any and all disputes regarding the appointment of arbitrators
by the parties, as well as the choice of the third arbitrator, shall be settled by CCBC.

	4.		Venue, Language and Applicable Law. The venue of the arbitration shall be the City
of São Paulo, State of São Paulo, Brazil, where the arbitration award shall be rendered, and it shall be conducted in Portuguese.
The Arbitration Tribunal shall apply the Brazilian Law, the decision based on equity being forbidden.

	5.		Measures and Execution. The Arbitration Tribunal may grant the urgent, provisional
and definitive measures it deems appropriate, including those directed to the specific performance of the obligations set forth in this
Agreement. Any order, decision, determination or award rendered by the Arbitration Tribunal shall be considered final and binding on
the Parties and their successors, who expressly waive any appeal. The arbitration award may be executed before any judicial authority
that has jurisdiction over the parties and/or their assets.

	6.		Supporting Judicial Court. The Parties elect the Courts of the Judicial District of
São Paulo, State of São Paulo, to the exclusion of any other, no matter how privileged it may be, for the exclusive purposes
of: (a) ensuring the commencement of the arbitration; and (b) obtaining urgent measures to protect or safeguard rights prior to the Establishment
of the Arbitration Tribunal, without this being considered as an act of waiver to the arbitration. Any measures granted by the Judicial
Branch shall be immediately notified to the CCBC by the party that requested such measure. The Arbitration Tribunal, once established,
may review, maintain or revoke the urgency measures granted by the Judicial Branch.

    	32 

    	 

    

	7.		Costs. Each party shall bear the costs and expenses that it gives rise to during the
arbitration and the parties shall apportion in equal parts the costs and expenses whose cause may not be attributed to one of them. The
arbitration award shall assign the losing party, or both parties, to the extent that their claims are not accepted, the final responsibility
for the cost of the proceeding, including attorney’s fees for loss of suit.

	8.		Confidentiality. The Parties undertake not to disclose (and not to allow the disclosure
of) any information that they become aware of and any documents presented at the arbitration, which are not otherwise in the public domain,
any evidence and materials produced in the arbitration and any decisions rendered in the arbitration, unless and to the extent that (a)
the duty to disclose such information arises from the Law; (b) the disclosure of such information is required by a Government Authority
or determined by the Judicial Branch; (c) such information is made public by any other means unrelated to the disclosure by the Parties
or their affiliates; or (d) the disclosure of such information is necessary for one of the Parties to appeal to the Judicial Branch in
the cases provided for in Law No. 9,307/96. Any and all disputes regarding the obligation of confidentiality established herein shall
be finally settled by the Arbitration Tribunal.

	9.		Consolidation. In order to facilitate the resolution of related disputes, the Arbitration
Tribunal may, at the request of one of the Parties, consolidate the arbitration proceeding with any other pending arbitration proceeding
involving the resolution of Disputes arising from this Agreement, the Agreement and/or disputes related to any other Transaction Document.
The Arbitration Tribunal shall consolidate the proceedings provided that (a) there are common matters of fact and/or law between them;
and (b) the consolidation in these circumstances does not result in losses arising from delays in resolving disputes. In case of conflicting
decisions on the consolidation of proceedings, the decision of the first established arbitration tribunal, which shall have jurisdiction
to conduct the consolidated arbitration proceeding, shall prevail. The consolidation decision shall be final and binding on all parties
involved in the disputes and arbitration proceedings subject matter to the consolidation order.

	10.		The Parties agree to use all their efforts to reach a prompt, economical and fair resolution
of any Dispute.

	11.		The capitalized terms not expressly defined in this Exhibit VIII or in the Agreement shall
have the meanings ascribed to them in the Agreement.

    	33 

    	 

    

EXHIBIT IX

The Sections below refer to certain rules, regulations,
legislation and policies which the Parties agree to fully observe and comply with.

A)       Anti-Money Laundering

The Parties understand and accept that they
are legal entities subject not only to the Brazilian law and international agreements on anti-money laundering and operational risks,
but also to the rules and standards of conduct defined by the U.S. legislation called SOX 3⁄4
Sarbanes Oxley and by Law no. 12,846, of August 1st, 2013. In this regard, if there is a suspicion of any illegal practice or in violation
of this Agreement by one of the Parties, it shall be at the sole discretion of the non-breaching Party to terminate the contractual relationship
under the terms of the termination clause of this Agreement, regardless of justification.

B)       Communication of
Ethical Deviations

Conflicts of an ethical nature, misconduct and
any reports or complaints about non-compliance with ethical precepts must be communicated to the Reporting Channel through the Telephone
number: 0800 602 1450, toll-free, available 24 hours a day, seven days a week, or through the Website: www.contatoseguro.com.br, by filling
out an electronic form. In all available contact channels, the reporter may identify himself/herself or make an anonymous report. Secrecy
and confidentiality are guaranteed, and all reports and complaints shall be properly investigated.

C)       Getnet Code of Ethical
Conduct

The Parties, their representatives, third parties
or subcontractors represent to be aware and in agreement with the Getnet Code of Ethical Conduct, available on the website: https://site.getnet.com.br/downloads/,
undertaking to respect it in its entire content and form. Failure to comply with the said guidelines shall be considered a serious violation
and may give rise to the termination of the agreement for cause, which shall automatically lead to the right to withhold payments and/or
suspend the compliance with other obligations, as well as the obligation of Santander Brasil to indemnify Getnet for losses and damages
that may be incurred and proven.

D)       Social and Environmental
Obligations

The Parties recognize the importance and undertake,
by themselves and their employees, to respect and contribute to the compliance with the constitutional principles, fundamental rights
and guarantees, and social rights provided for in the Federal Constitution, such as, but not limited to: (i) prevent any form of discrimination;
(ii) respect the environment; (iii) repudiate slave and child labor; (iv) guarantee the freedom of its employees to join unions and collectively
negotiate labor rights; (v) contribute to a safe and healthy work environment; (vi) prevent moral and sexual harassment; (vii) share this
commitment to social responsibility in the supply chain; (viii) work against corruption in all its forms, including extortion and bribery.

    	34 

    	 

    

E)       Diversity

The Parties undertake to base their conduct
on the principles of ethics, non-discrimination, isonomy and respect for the freedom and self-determination of human beings, respecting
and promoting diversity, refraining from all forms of prejudice and discrimination, so that no person, whether within their institution
and/or Party’s facilities, receives discriminatory treatment based on their race, skin color, ethnic origin, nationality, social
position, age, religion, gender, sexual orientation, personal aesthetics, physical, mental or psychic condition, marital status, opinion,
political conviction or any other differentiating factor. Discriminatory practices are considered as all actions or omissions carried
out by reason of the aforementioned factors that violate the principle of equality. Also, in order to prevent the practice of discriminatory
conduct and spread respect for all forms of manifestation of the human diversity, the Parties undertake to carry out training, at least
annually, aimed at their employees directly involved in the provision of services and/or supply subject matter of this Agreement, based
on respect for diversity, isonomy, repudiation of discriminatory conduct, even obliging themselves to carry out training for each new
employee who joins the operation. Whenever requested by one of the Parties, the other Party shall prove compliance with these provisions.

F)       Procedures to Prevent
the Performance of Acts against the Public Administration

The Parties, by themselves and their managers,
directors, employees and agents, agree to:

	(i)		conduct their business practices ethically and in accordance with the applicable legal precepts;

	(ii)		repudiate and not allow any action that may constitute a harmful act pursuant to Law No.
12,846, of August 1st, 2013, and related legislation;

	(iii)		have or undertake to implement, during the term of effectiveness of any agreement, a compliance
and training program aimed at preventing and detecting violations of the anti-corruption rules and requirements established in each agreement;
and

	(iv)		immediately notify the other party if they have knowledge or suspicion of any conduct that
constitutes or may constitute a practice of bribery or corruption related to the negotiation, completion or execution of the agreement,
and hereby represent that they have not made and shall not make any payment, nor have they granted or shall grant benefits or advantages
to any government authorities, or to consultants, representatives, partners or third parties related to them, with the purpose of influencing
any act or decision of the public administration or ensuring any improper advantage, obtaining or preventing business, or obtaining any
improper benefit.

G)       General Data Protection
Law

The Parties agree, whenever applicable, to act
in existing contracts to which they are parties, in accordance with the rules of the Brazilian legislation on the Protection of Personal
Data (“LGPD”) 3⁄4 Law No. 13,709/2018 and in accordance with the provisions of
the supervisory body on the matter, ANPD - National Data Protection Authority.

    	35 

    	 

    

The Parties must:

	a)		observe and comply with the legal rules in force and applicable to the processing and protection
of personal data, including, but not limited to, the General Data Protection Law (Law No. 13,709/2018), as well as the instructions of
the other Party regarding the matter, under penalty of bearing damages, losses, expenses, fines, penalties and attorneys’ fees
that arise as a result of non-compliance, which is the reason for early termination of the agreement executed without application of
fine or indemnification to the non-breaching Party.

	b)		in case of leakage of personal and sensitive data involving the subject matter of any agreement
entered into by and between the Parties, the Parties undertake to report it in writing, immediately after identifying the incident, and
also undertake to inform the measures taken to solve or mitigate the problem.

	c)		undertake to obtain the express and specific consent of the data subject in the case of sharing
sensitive data, including data of children and teenagers, as determined by Law No. 13,709/18.

	d)		keep a record of the operations for the processing of personal and sensitive data that they
carry out, as well as implement technical measures necessary to protect the data against accidental or unlawful destruction, loss, alteration,
unauthorized access and leakage, in addition to ensuring that the environment, regardless of whether physical or digital, used for the
processing is structured in order to meet the security requirements, the standards of good governance practices and the principles provided
for in the legislation and in other applicable regulatory rules.

	e)		certify to the other Party that its employees, representatives, agents, suppliers or any
third party connected to them shall also be acting in accordance with the Agreement and the provisions of the General Data Protection
Law.

	f)		undertake to assist each other in ensuring compliance with the obligation to respond to requests
from data subjects, acting in accordance with specific business laws and the General Data Protection Law.

	g)		undertake to preserve the personal data processed, for the execution of the agreement between
the parties, for the time necessary according to its purpose. They also agree to the elimination of such data through a safe measure,
when the purpose of the treatment is completed, in addition to compliance with the statutes of limitations for performance of legal obligations,
as well as legal actions and inspections.

The Parties are not authorized to share with
third parties the personal and sensitive data arising from the agreement between them, as well as they may not use this data to promote
their services or products, without the express consent of the personal or sensitive data subject for such purposes, under the penalties
provided for in the General Data Protection Law and other applicable legislation.

The Parties may not transfer personal data to
any subcontractor without the proper written approval of the other Party. In the case of outsourcing to a subcontractor, the Party that
intends to promote the outsourcing shall ensure that the subcontractor contractually assumes the performance of the obligations contained
in the agreement, including those referring to the rules of the
General Data Protection Law. If the subcontractor fails to comply with the protection of the personal data of the subjects, the responsible
Party shall be held liable for any damages arising from this situation.

    	36 

    	 

    

Upon the execution of this Agreement, the Parties
represent that they are aware of and agree to indemnify the non-breaching Party, as the case may be, regardless of any other penalty that
may be attributed to it, from and against all material and/or moral damages arising from any breach of the protection rights relating
to the personal and sensitive data of its subjects to which it has access during the term of effectiveness of the agreement, including
the period after the termination thereof.

H)       Information Security:

	1.		The Parties shall, as the case may be:

	a)		Fully comply with the minimum information security obligations and requirements established
by the other Party during the term of effectiveness hereof. In the case of Getnet, such obligations and requirements are set forth in
its Information Security Policy and are accessible to any interested third parties on the website https://site.getnet.com.br/wp-content/uploads/2020/11/PL_Seguranca_Informacao_Cibernetica_.pdf.pdf

	b)		formally communicate to the other Party, without due delay, any and all information security
incident that may compromise the services provided to the other Party, through the Information Security Incident Report (“RISI”)
model, to be agreed between the Parties. Information security incidents that must be formally reported, with the presentation of the
relevant corrective actions, not excluding other cases that may occur to the parties, are considered as:

		i.	Improper or unauthorized physical access by one of the Parties to the facilities, systems or information
belonging to the other Party;

		ii.	Employee or service provider connected to one of the Parties who has not executed a Non-Disclosure Agreement
(NDA) with the other Party;

		iii.	Employee or service provider connected to one of the Parties without the qualification required to perform
the contracted activities;

		iv.	Security controls implemented by one of the Parties that are not effective, related to the confidentiality,
integrity and availability of information from the data and files of the relevant Party;

		v.	Non-compliance with the other Party’s information security policies and procedures;

		vi.	Changing one Party’s Information, stored in the computer systems of the other Party;

		vii.	Removal/copy/transfer of information from one of the Parties (digital or not) to an unauthorized location;

    	37 

    	 

    

		viii.	Execution of changes or modifications in the environment without formal authorization, set forth in the
other Party’s internal processes;

	c)		Have sufficient capacity to ensure that the levels of continuity of the agreed services shall
be maintained, even after a disaster or failure of its main services.

	d)		Have an implemented and documented Information Security Incident Notification and Management
process, for the purposes set forth in item b) above, according to the model defined between the Parties.

	e)		Provide, when requested by the other Party, the information security requirements that must
be demanded from its own suppliers.

	f)		Immediately notify the other Party of the resignation or voluntary withdrawal of any of its
employees and/or subcontractors who are carrying out activities related to the agreement entered into by and between the parties.

	g)		Whenever requested by one of the Parties, the other Party shall provide independent audit
reports, such as the audits of Certification Bodies of ISO 27001, as well as corrective actions arising from non-conformities identified
during the audit, with the respective terms for implantation. These documents may be made available at the facilities of one of the Parties
for analysis and verification by the other Party.

	2.		The obligations set forth in this section shall always prevail in case of doubt, and unless
otherwise expressly stated in other related instruments executed between Getnet and Santander Brasil, regarding the secrecy of Confidential
Information.

	3.		Each of the Parties reserves the right to monitor, critically analyze and audit the services
provided by the other Party, provided that this decision is communicated five (05) business days in advance.

	3.1.		The monitoring of the services provided may be monthly carried out, based on the SLA (Service
Level Agreement) established between the parties, to verify compliance with the requirements agreed in this Agreement.

    	38

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