Document:

EX-10.3

 EXHIBIT 10.3 

SOCIAL CAPITAL SUVRETTA HOLDINGS CORP. II 

DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT 

This Director Restricted Stock Unit Award Agreement (this “RSU Award Agreement”), dated as of June 29, 2022 (the
“Grant Date”), is made by and between Social Capital Suvretta Holdings Corp. II, an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”), and Robert Berman
(the “Participant”). The terms of this RSU Award Agreement shall be governed by the terms of the omnibus equity incentive plan to be adopted by the Company and submitted for approval by the Company’s shareholders in
connection with the Company’s initial Business Combination (as defined below) (the “Plan”). Certain capitalized terms used herein and not otherwise defined are defined in Section 6. 

1. Grant of Restricted Units. The Company hereby grants to the Participant 30,000 restricted stock units (the
“RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan. 
 2. Vesting. 

(a) Subject to Sections 2(b) and 7, the RSUs shall become vested in full upon the consummation of the Company’s initial Business
Combination (the “Vesting Date”); provided that the Participant remains in continuous service as a member of the Board of Directors of the Company (the “Board”) through the time that is immediately prior to
the consummation of the Company’s initial Business Combination. In the event that the Company does not consummate a Business Combination prior to the date required under its Governing Documents, all RSUs shall be automatically forfeited without
consideration, and this RSU Award Agreement shall be null and void. 
 (b) If the Participant’s service as a member of the Board is
terminated for any reason prior to the time that is immediately prior to the consummation of the Company’s initial Business Combination, then on the date of such termination from service (i) this RSU Award Agreement shall terminate and all
rights of the Participant with respect to the RSUs shall immediately terminate, (ii) the RSUs shall be forfeited without payment of any consideration, and (iii) neither the Participant nor any of the Participant’s successors, heirs,
assigns, or personal representatives shall thereafter have any further rights or interests in the RSUs. 
 3. Settlement. Each RSU
granted hereunder shall represent the notional right to receive a single Ordinary Share and, upon a Domestication, if any, each RSU shall be converted into the notional right to receive a single share of Common Stock. Vested RSUs shall be settled in
Ordinary Shares or shares of Common Stock, as applicable, on a date determined in the sole discretion of the Company that shall occur between the Vesting Date and March 15 of the year following the year in which vesting occurs. 

4. Equitable Adjustment. In the event of any Change in Capitalization (other than in connection with a Business Combination), an
equitable substitution or proportionate adjustment shall be made in (i) the kind and number of Shares or other securities or the amount of cash or amount or type of other property subject to outstanding RSUs granted under this Agreement; and/or
(ii) the terms and conditions of this RSU Award Agreement; provided, however, that any 

 
fractional shares resulting from the adjustment shall be eliminated. The Company is further authorized to make adjustments in the terms and conditions of, and the criteria included in, this RSU
Award Agreement in recognition of unusual or infrequent events (including, without limitation, the events described in this Section 4, but excluding an initial Business Combination) affecting the Company or the financial statements of the
Company, including but not limited to changes in the number or conversion rights associated with the Class B Shares, or of changes in applicable laws, regulations, or accounting principles, whenever the Company determines that such adjustments
are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this RSU Award Agreement. 

5. Voting and Other Rights. The Participant shall have no rights of a stockholder with respect to the RSUs (including, without
limitation, the right to vote and the right to receive distributions or dividends) unless and until Shares are issued in respect thereof in accordance with Section 3; provided that with respect to the period commencing on the Grant Date
and ending on the date the Shares subject to such RSUs are issued in accordance with Section 3, the Participant shall be eligible to receive an amount equal to the product of (a) the number of Shares to be delivered as a result of such
vesting and settlement, multiplied by (b) the amount of cash distributed by the Company with respect to an outstanding Share during such period, which amount shall be paid to the Participant on the date such Shares are issued (provided
that such amount shall not be paid to the extent that any RSUs do not become vested and Shares are not delivered). No interest or other earnings shall be credited with respect to such payment. 

6. Definitions. As used herein, the following defined terms have the definitions set forth below: 

(a) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination, involving the Company and one or more businesses. 
 (b) “Change in Capitalization” means any
(i) merger, consolidation, reclassification, recapitalization, spin-off, spin-out, repurchase or other reorganization or corporate transaction or event,
(ii) special or extraordinary dividend or other extraordinary distribution (whether in the form of cash, Shares or other property), share split, reverse share split, share subdivision or consolidation, (iii) combination or exchange of
Shares or (iv) other change in corporate structure, which, in any such case, the Company determines, in its sole discretion, affects the Shares such that an adjustment pursuant to Section 4 is appropriate. 

(c) “Class B Shares” shall mean the Class B ordinary shares of the Company, par value $0.0001 per
share. 
 (d) “Common Stock” shall mean the common stock, par value $0.0001 per share, of the Company following a
Domestication. 
 (e) “Domestication” shall mean a domestication by the Company as a Delaware corporation. 

(f) “Governing Document” shall mean (i) prior to a Domestication, the Company’s amended and restated memorandum and
articles of association, as the same may be amended from time to time, and (ii) upon and following a Domestication, its certificate of incorporation and bylaws, as the same may be amended from time to time. 

  
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 (g) “Ordinary Shares” shall mean the Class A ordinary shares of the
Company, par value $0.0001 per share. 
 (h) “Shares” shall mean, collectively, Ordinary Shares, shares of Common Stock and
Class B Shares, as applicable. 
 (i) “Trust Account” shall mean the trust fund into which a portion of the net
proceeds of the Company’s initial public offering were deposited for the benefit of the Company, certain of its public shareholders and the underwriters of the Company’s initial public offering. 

7. RSU Award Agreement Subject to Plan and Shareholder Approval. This RSU Award Agreement is made pursuant to all of the provisions of
the Plan, which is incorporated herein by this reference, and is intended, and shall be interpreted in a manner, to comply therewith. In the event of any conflict between the provisions of this RSU Award Agreement and the provisions of the Plan, the
provisions of this RSU Award Agreement shall govern. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Administrator (as defined in the Plan) in respect of the Plan, this RSU Award Agreement and the
RSUs shall be final and conclusive. This RSU Award Agreement and the grant of RSUs hereunder is expressly contingent upon approval of the Plan and the overall share limit set forth thereunder by the Board (or a designated committee thereof) and the
Company’s shareholders. If the Plan is not so approved on or prior to the consummation of the Company’s initial Business Combination, this RSU Award Agreement shall be null and void ab initio. Any issuance of Shares in respect of RSUs
shall be issued under and pursuant to the terms of the Plan. 
 8. Regulations and Other Approvals. 

(a) Any resale of the Shares received in respect of RSUs shall be made in compliance with the registration requirement of the Securities Act
of 1933, as amended (the “Securities Act”), or an applicable exemption therefrom, including, without limitation, the exemption provided by Rule 144 promulgated thereunder (or any successor rule, “Rule 144”). 

(b) The obligation of the Company to deliver Shares with respect to any RSU granted hereunder shall be subject to all applicable laws, rules
and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Company. 

(c) Each RSU is subject to the requirement that, if at any time the Company determines, in its sole discretion, that the listing, registration
or qualification of Shares issuable hereunder is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection
with, the grant of an RSU or the issuance of Shares, no such RSU shall be granted or Shares issued, in whole or in part, unless such listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not
acceptable to the Company. 

  
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 9. Participant Representations and Warranties. This RSU Award Agreement and the grant
of RSUs hereunder is expressly conditioned on the Participant’s acceptance and agreement to the representations and warranties set forth in Annex A. All representations and warranties contained in Annex A shall survive
the execution of this RSU Award Agreement and the grant of the RSUs contemplated hereby. The Participant agrees to indemnify and hold harmless the Company and its Affiliates from any liability, loss or expense (including, without limitation,
reasonable attorneys’ fees) if the Participant has breached any representation or warranty hereunder. 
 10. No Rights to
Continuation of Service. Nothing in the Plan or this RSU Award Agreement shall confer upon the Participant any right to continue in the service of the Company or any Affiliate thereof or shall interfere with or restrict the right of the Company
or its Affiliates to terminate the Participant’s service at any time for any reason whatsoever. 
 11. Taxes. The Participant
understands that the Participant (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this RSU Award Agreement. 

12. Section 409A and Section 457A. The intent of the parties is that the payments and benefits under this RSU Award
Agreement comply with Section 409A of the Code and be exempt from Section 457A of the Code, to the extent subject thereto, and accordingly, to the maximum extent permitted, this RSU Award Agreement shall be interpreted and administered to
be in compliance therewith or exempt therefrom, as applicable. Notwithstanding anything contained herein to the contrary, the Participant shall not be considered to have terminated service with the Company for purposes of any payments under this RSU
Award Agreement that are subject to Section 409A of the Code until the Participant would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A of the Code. Each amount to
be paid or benefit to be provided under this RSU Award Agreement shall be construed as a separate identified payment for purposes of Section 409A of the Code. Without limiting the foregoing and notwithstanding anything contained herein to the
contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this RSU Award
Agreement or any other arrangement between the Participant and the Company during the six-month period immediately following the Participant’s separation from service shall instead be paid on the first
business day after the date that is six months following the Participant’s separation from service (or, if earlier, the Participant’s date of death). The Company makes no representation that any or all of the payments described in this RSU
Award Agreement will be exempt from or comply with Section 409A or Section 457A of the Code and makes no undertaking to preclude Section 409A or Section 457A of the Code from applying to any such payment. The Participant shall be
solely responsible for the payment of any taxes and penalties incurred under Section 409A or Section 457A of the Code. 
 13.
Governing Law and Jurisdiction. This RSU Award Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. All disputes arising out of this RSU Award Agreement shall be subject to the exclusive
jurisdiction of the Court of Chancery located in the State of Delaware (and only if such court lacks or declines jurisdiction, any other state or federal court located in the State of Delaware), and the parties agree and submit to the personal and
exclusive jurisdiction and venue of these courts.  

  
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 14. RSU Award Agreement Binding on Successors. The terms of this RSU Award Agreement
shall be binding upon the Participant and upon the Participant’s heirs, executors, administrators, personal representatives and successors in interest, and upon the Company and its successors and assignees, subject to the terms of the Plan.

 15. No Assignment. Notwithstanding anything to the contrary in this RSU Award Agreement, neither this RSU Award Agreement nor any
rights granted herein shall be assignable by the Participant. 
 16. Necessary Acts. The Participant hereby agrees to perform all
acts, and to execute and deliver any other documents that may be reasonably necessary to carry out the provisions of this RSU Award Agreement, including but not limited to all acts and documents related to compliance with federal and/or state
securities and/or tax laws. 
 17. Severability. Should any provision of this RSU Award Agreement be held by a court of competent
jurisdiction to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this RSU Award Agreement, the balance of which shall continue to be binding upon the parties hereto with any such
modification (if any) to become a part hereof and treated as though contained in this original RSU Award Agreement. Moreover, if one or more of the provisions contained in this RSU Award Agreement shall for any reason be held to be excessively broad
as to scope, activity, subject or otherwise so as to be unenforceable, in lieu of severing such unenforceable provision, such provision or provisions shall be construed by the appropriate judicial body by limiting or reducing it or them, so as to be
enforceable to the maximum extent compatible with the applicable law as it shall then appear, and such determination by such judicial body shall not affect the enforceability of such provisions or provisions in any other jurisdiction. 

18. Entire Agreement. This RSU Award Agreement, the Plan and the letter agreement, dated as of the date hereof (the “Letter
Agreement”), between the Company and the Participant, contain the entire agreement and understanding among the parties as to the subject matter hereof, and supersedes any other agreements or representations, oral or otherwise, express or
implied, with respect to the subject matter hereof. 
 19. Headings. Headings are used solely for the convenience of the parties and
shall not be deemed to be a limitation upon or descriptive of the contents of any such Section. 
 20. Counterparts; Electronic
Signature. This RSU Award Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. A party’s electronic signature
of this RSU Award Agreement shall have the same validity and effect as a signature affixed by such party’s hand. 
 21.
Amendment. No amendment or modification hereof shall be valid unless it shall be in writing and signed by all parties hereto. 

  
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 22. Waiver against Trust Account. The Participant acknowledges that the Participant
has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the RSUs. The Participant hereby further acknowledges
that the Participant shall have no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account and hereby agrees not to
seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Participant hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust
Account. 
 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this RSU Award Agreement as of the date
set forth above. 
  

			
	SOCIAL CAPITAL SUVRETTA HOLDINGS CORP. II
		
	By:	 	/s/ Kishan Mehta
		 	Name: Kishan Mehta
		 	Title: President

 [Signature Page to Director Restricted Stock Unit Award Agreement] 

 The undersigned hereby accepts and agrees to all the terms and provisions of the foregoing
RSU Award Agreement, including Annex A. 
  

	
	PARTICIPANT
	
	Signature:    /s/ Robert Berman
	Print Name: Robert Berman

 [Signature Page to Director Restricted Stock Unit Award Agreement] 

 ANNEX A 

REPRESENTATIONS AND WARRANTIES OF THE PARTICIPANT 

The Participant hereby represents and warrants to the Company as of the date of this RSU Award Agreement as follows: 

 

	1.	 The Participant’s domicile is the State of Connecticut, all discussions related to this Agreement, the
RSUs, and the offer and acceptance of this RSU Award Agreement, and the RSUs granted hereunder, occurred in the State of Connecticut. 

  

	2.	 The Participant has such knowledge and experience in financial and business matters that the Participant is
capable of evaluating the merits and risks of the investment to be made by the Participant hereunder. The Participant understands and has taken cognizance of all the risk factors related to the investment in the RSUs. 

 

	3.	 The Participant is acquiring the RSUs for his or her own account for investment and not with any view to, or
for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act. 

  

	4.	 The Participant understands that (a) the RSUs have not been, and any Shares received in respect of RSUs
will not be, registered under the Securities Act or applicable state securities laws, in reliance on exemptions from registration under the Securities Act and applicable state securities laws, (b) the RSUs and any Shares received in respect of
RSUs may not be sold, transferred, offered for sale, pledged, hypothecated or otherwise disposed of without registration under the Securities Act, except: (i) to the Company or a subsidiary thereof, (ii) to
non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the
registration requirements of the Securities Act, and in each of cases (i) and (iii) in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates representing the Shares
shall contain a legend to such effect, (c) the availability of an exemption from registration may depend on factors over which the Participant has no control, that unless so registered or exempt from registration the RSUs and any Shares
received in respect of RSUs may be required to be held for an indefinite period and (d) no federal or state agency has made any finding or determination as to the fairness for investment, nor any recommendation or endorsement, of the RSUs or
any Shares received in respect of RSUs. 

  

	5.	 The Participant understands that an exemption from registration is not presently available pursuant to Rule
144, that there is no assurance that such exemption will ever become available to the Participant and that even if it were to become available, sales pursuant to Rule 144 may be limited in amount and could only be made in full compliance with the
provisions of Rule 144. 

	6.	 The Participant acknowledges and agrees that (a) except as expressly provided for in this RSU Award
Agreement, no representations or warranties have been made to the Participant by the Company, any manager, officer, agent, employee or affiliate of the Company, or any other persons with respect to the Participant’s investment in the RSUs,
(b) except for this RSU Award Agreement, the Letter Agreement and the Plan, there are no agreements, contracts, understandings or commitments between the Participant on the one hand and the Company, any director, manager, officer, agent,
employee or affiliate of the Company on the other hand, with respect to the Participant’s investment in the RSUs, (c) in entering into this transaction the Participant is not relying upon any information, other than that contained in the
Plan, this RSU Award Agreement and the results of the Participant’s own independent investigation, (d) the Participant’s financial situation is such that the Participant can afford to hold the RSUs and any Shares received in respect
of RSUs for an indefinite period of time, has adequate means for providing for his or her current needs and personal contingencies, and can afford the eventuality that the RSUs and any Shares received in respect of RSUs may ultimately have no value,
(e) the future value of the RSUs and any Shares received in respect of RSUs is speculative, and (f) the Participant’s investment in the RSUs and any Shares received in respect of RSUs is subject to dilution by the issuance of
additional equity securities by the Company and the Participant is not entitled to any preemptive, tag-along, information or other minority investor rights with respect to the RSUs and any Shares received in
respect of RSUs, other than as expressly set forth in this RSU Award Agreement, the Plan or as otherwise provided under applicable law. 

  

	7.	 The Participant understands that the Participant must bear the economic risk of his or her investment in the
RSUs for an indefinite period of time. 

  

	8.	 The Participant understands that the grant of RSUs to the Participant is predicated, in part, on the
representations, warranties and covenants of the Participant contained herein. 

  

	9.	 The Participant hereby acknowledges that neither the Company nor any representative of the Company has
provided, or will provide, the Participant with tax advice regarding the RSUs, the Company or the execution of this Agreement, and the Company has advised the Participant to consult the Participant’s own tax advisor with respect to the tax
consequences of each of the foregoing, including but not limited to any applicable elections, withholdings or other matters relating to the RSUs, the Company or the execution of this Agreement.EX-4.11

 Exhibit 4.11 

POLESTAR AUTOMOTIVE HOLDING UK PLC 
  

 
 2022 EMPLOYEE
STOCK PURCHASE PLAN 
  
  

ARTICLE 1 
 PURPOSE

 The Plan’s purpose is to assist employees of the Company and its Designated Companies in acquiring a share ownership interest in
the Company, and to help such employees provide for their future security and to encourage them to remain in the employment of the Company and its Subsidiaries and Affiliates. 

The Plan consists of two components: the Section 423 Component and the Non-Section 423
Component. The Section 423 Component is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and shall be administered, interpreted and construed in a manner consistent with the requirements of
Section 423 of the Code. In addition, this Plan authorizes the grant of Options under the Non-Section 423 Component, which need not qualify as Options granted pursuant to an “employee stock
purchase plan” under Section 423 of the Code; such Options granted under the Non-Section 423 Component shall be granted pursuant to separate Offerings containing such sub-plans, appendices, rules or procedures as may be adopted by the Administrator and designed to achieve tax, securities laws or other objectives for Eligible Employees and the Designated Companies
in locations within or outside of the United States. Except as otherwise provided herein or determined by the Administrator, the Non-Section 423 Component will operate and be administered in the same
manner as the Section 423 Component. Offerings intended to be made under the Non-Section 423 Component will be designated as such by the Administrator at or prior to the time of such Offering.

 For purposes of this Plan, the Administrator may designate separate Offerings under the Plan, the terms of which need not be identical,
in which Eligible Employees will participate, even if the dates of the applicable Offering Period(s) in each such Offering is identical, provided that the terms of participation are the same within each separate Offering under the
Section 423 Component as determined under Section 423 of the Code. Solely by way of example and without limiting the foregoing, the Company could, but shall not be required to, provide for simultaneous Offerings under the Section 423
Component and the Non-Section 423 Component of the Plan. 
 ARTICLE 2 

DEFINITIONS 
 As used in
the Plan, the following words and phrases have the meanings specified below, unless the context clearly indicates otherwise: 
 2.1.
“Administrator” means the Committee, or such individuals to which authority to administer the Plan has been delegated under Section 7.1 hereof. 

 2.2. “Affiliate” means any Person that directly or indirectly
controls, is controlled by, or is under common control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person,
means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, appointing a majority of the board of directors,
by contract, or otherwise. 
 2.3. “Agent” means the brokerage firm, bank or other financial institution, entity or
person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. 

2.4. “Applicable Law” means the requirements relating to the administration of the Plan under U.S. state corporate
law, U.S. federal and state securities laws, the rules of any stock exchange or quotation system on which the shares are listed or quoted, the laws of England and Wales, and any other applicable laws, including tax laws, of any U.S. or non-U.S. jurisdictions. 
 2.5. “Board” means the Board of Directors of the
Company. 
 2.6. “Broker” means the financial institution designated by the Company to act as Broker for the Plan.

 2.7. “Business Combination Agreement” means that certain Business Combination Agreement by and among Gores
Guggenheim, Inc., Polestar Automotive Holding Limited, Polestar Automotive (Singapore) Pte. Ltd., Polestar Holding AB, Polestar Automotive Holding UK Limited and PAH UK Merger Sub Inc., dated as of September 27, 2021. 

2.8. “Class A ADS” means one American depositary share of the Company duly and
validly issued against the deposit with the depositary of an underlying Class A Share. 
 2.9.
“Class A Share” means a Class A ordinary share in the share capital of the Company (and any shares or other securities into which such Class A Shares may be converted or into which
they may be exchanged). 
 2.10. “Code” means the Internal Revenue Code of 1986, as amended, and any successor
thereto. Reference in the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations, or guidance. 

2.11. “Committee” means any committee of the Board duly authorized by the Board to administer the Plan. If no
committee is duly authorized by the Board to administer the Plan, the term “Committee” shall be deemed to refer to the Board for all purposes under the Plan. The Board may abolish any Committee or
re-vest in itself any previously delegated authority from time to time, and will retain the right to exercise the authority of the Committee to the extent consistent with Applicable Law. 

  
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 2.12. “Company” means Polestar Automotive Holding UK PLC, a public
limited company incorporated under the laws of England and Wales, and any successor thereto. 
 2.13. “Compensation”
of an Employee means the gross base compensation received by such Employee as compensation for services to the Company or any Designated Company, including base salary, wages, prior week adjustment and overtime payments, commissions, annual
incentive compensation or other payments made under any annual bonus program, vacation pay, holiday pay, jury duty pay, funeral leave pay, and military leave pay but excluding payments made under any special or
one-time bonus programs (e.g., retention or sign-on bonuses), education or tuition reimbursements, travel expenses, business and moving reimbursements (including
tax gross ups and taxable mileage allowance), imputed income arising under any group insurance or benefit program, income received in connection with any share options, share appreciation rights, restricted shares, restricted share units or other
compensatory equity awards, fringe benefits, other special payments and all contributions made by the Company or any Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter established. The
Administrator, in its discretion, may establish a different definition of Compensation for an Offering, which for the Section 423 Component shall apply on a uniform and nondiscriminatory basis. Further, the Administrator will have discretion to
determine the application of this definition to Eligible Employees outside the United States. 
 2.14. “Designated
Company” means each Affiliate and Subsidiary, including any Affiliate and Subsidiary in existence on the Effective Date and any Affiliate and Subsidiary formed or acquired following the Effective Date, that has been designated by the
Administrator from time to time in its sole discretion as eligible to participate in the Plan, in accordance with Section 7.2 hereof, such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component. A Designated Company may participate in either the Section 423 Component or Non-Section 423 Component, but not both.
Notwithstanding the foregoing, if any Affiliate or Subsidiary is disregarded for U.S. federal income tax purposes in respect of the Company or any Designated Company participating in the Section 423 Component, then such disregarded Affiliate or
Subsidiary shall automatically be a Designated Company participating in the Section 423 Component. If any Affiliate or Subsidiary is disregarded for U.S. federal income tax purposes in respect of any Designated Company participating in the Non-Section 423 Component, the Administrator may exclude such Affiliate or Subsidiary from participating in the Plan, notwithstanding that the Designated Company in respect of which such Affiliate or
Subsidiary is disregarded may participate in the Plan. 
 2.15. “Effective Date” means the date the Plan is adopted
by the Board, subject to approval of the Company’s shareholders. 
 2.16. “Eligible Employee” means any
Employee of the Company or a Designated Company, except that the Administrator may exclude any or all of the following unless prohibited by applicable law, Employees: 

  
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 (a) who have been employed fewer than two years, or such shorter period as may be determined
by the Administrator in its discretion; 
 (b) whose customary employment is not more than five months in a calendar year; 

(c) who are not employed by the Company or a Designated Company prior to the applicable Enrollment Date; 

(d) any Employee who is a “highly compensated employee” of the Company or any Designated Company (within the meaning of
Section 414(q) of the Code), or that is such a “highly compensated employee” (A) with compensation above a specified level, (B) who is an officer or (C) who is subject to the disclosure requirements of Section 16(a) of
the Exchange Act; or 
 (e) any Employee who is a citizen or resident of a jurisdiction outside the United States (without regard to whether
they are also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (A) the grant of the Option is prohibited under the laws of the jurisdiction governing such Employee, or
(B) compliance with the laws of the jurisdiction would cause the Section 423 Component, any Offering thereunder or an Option granted thereunder to violate the requirements of Section 423 of the Code; provided that any
exclusion shall be applied in an identical manner under each Offering to all Employees in accordance with Treas. Reg. § 1.423-2(e). 

Notwithstanding the foregoing, any Employee who, after the granting of the Option, would be deemed for purposes of Section 423(b)(3) of the Code to
possess 5% or more of the total combined voting power or value of all classes of shares of the Company or any Subsidiary shall not be an Eligible Employee. For purposes of the preceding sentence, the rules of Section 424(d) of the Code with
regard to the attribution of share ownership shall apply in determining the share ownership of an individual, and shares which an Employee may purchase under outstanding options shall be treated as shares owned by the Employee. 

Further, with respect to the Non-Section 423 Component, (a) the Administrator may limit eligibility
further within a Designated Company so as to only designate some Employees of a Designated Company as Eligible Employees, and (b) to the extent any restrictions in this definition are not consistent with applicable local laws, the applicable
local laws shall control. 
 2.17. “Employee” means any person who renders services to the Company or a Designated
Company in the status of an employee within the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or a Designated Company who does not render services to the Company or a Designated
Company in the status of an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on military leave, sick leave or other
leave of absence approved by the Company or a Designated Company and meeting the requirements of Treas. Reg. § 1.421-1(h)(2). Where the period of leave exceeds three months, or such other period
specified in Treas. Reg. § 1.421-1(h)(2), and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have
terminated on the first day immediately following such three (3)-month period, or such other period specified in Treas. Reg. § 1.421-1(h)(2). 

  
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 2.18. “Enrollment Date” means the first date of each Offering
Period. 
 2.19. “Exercise Date” means the last day of each Purchase Period, except as provided in Section 5.2
hereof. 
 2.20. “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. Reference to a specific
section of the Exchange Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending,
supplementing, or superseding such section or regulation. 
 2.21. “Fair Market Value” means, for purposes of the
Plan, unless otherwise required by any applicable provision of the Code or any regulations issued thereunder or as otherwise permitted by applicable law and determined by the Committee, as of any date and except as provided below, the last sales
price reported for the Shares on the applicable date: (a) as reported on the principal national securities exchange in the United States on which it is then traded or (b) if the Shares are not traded, listed, or otherwise reported or
quoted, the Committee shall determine in good faith the Fair Market Value in whatever manner it considers appropriate taking into account the requirements of Section 409A of the Code. 

2.22. “Grant Date” means the first day of an Offering Period. 

2.23. “Matching Date” means, if the Committee, in its sole discretion, determines to credit Match Shares to a
Participant, the date during the calendar month following the annual anniversary of the applicable Quarter End on which Match Shares are credited to the Participant’s Share Account. 

2.24. “Match Price” means the closing price of a Share on the Wednesday preceding the Matching Date (or on such other
date during the week that includes the Matching Date, as determined by the Company). 
 2.25. “Match Shares” means
the Shares credited to a Participant’s Share Account pursuant to Appendix A of the Plan. 
 2.26. “New Exercise
Date” has the meaning set forth in Section 5.2(b) hereof. 
 2.27.
“Non-Section 423 Component” means those Offerings under the Plan, together with
the sub-plans, appendices, rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which Options may be granted to Eligible Employees that need not
satisfy the requirements for Options granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code. 

  
 5 

 2.28. “Offering” means an offer under the Plan of an Option that may
be exercised during an Offering Period as further described in Article 4 hereof. Unless otherwise specified by the Administrator, each Offering to the Eligible Employees shall be deemed a separate Offering, even if the dates and other terms of the
applicable Purchase Periods of each such Offering are identical and the provisions of the Plan will separately apply to each Offering. To the extent permitted by Treas. Reg. § 1.423-2(a)(1), the
terms of each separate Offering under the Section 423 Component need not be identical, provided that the terms of the Section 423 Component and an Offering thereunder together satisfy Treas. Reg.
§ 1.423-2(a)(2) and (a)(3). 
 2.29. “Offering Period” means
one or more periods to be selected by the Administrator, in its sole discretion, and with respect to which Options shall be granted to Participants. The duration and timing of Offering Periods may be established or changed by the Administrator at
any time, in its sole discretion and may consist of one or more Purchase Periods. Notwithstanding the foregoing, in no event may an Offering Period exceed 27 months. 

2.30. “Option” means the right to purchase Shares pursuant to the Plan during each Offering Period. 

2.31. “Option Price” means the purchase price of a Share hereunder as provided in Section 4.2 hereof. 

2.32. “Parent” means any entity that is a parent corporation of the Company within the meaning of Section 424(e)
of the Code. 
 2.33. “Participant” means any Eligible Employee who elects to participate in the Plan. 

2.34. “Payday” means the regular and recurring established day for payment of Compensation to an Employee. 

2.35. “Person” means any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act). 
 2.36. “Plan” means this Employee Stock Purchase Plan, including both the Section 423
Component and Non-Section 423 Component and any other sub-plans or appendices hereto, as amended from time to time. 

2.37. “Plan Account” means a bookkeeping account established and maintained by the Company in the name of each
Participant. 
 2.38. “Purchase Period” means each consecutive six (6)-month period commencing on such months within
each Offering Period as established by the Administrator. The duration and timing of Purchase Periods may be established or changed by the Administrator at any time, in its sole discretion. Notwithstanding the foregoing, in no event may a Purchase
Period exceed the duration of the Offering Period under which it is established. 
 2.39. “Quarter” means, with
respect to each calendar year during which the Plan is in effect, the following four calendar quarters: January 1 through March 31, April 1 through June 30, July through September 30 and October 1 through December 31.
The duration and timing of the Quarter may be established or changed by the Administrator at any time, in its sole discretion. 

  
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 2.40. “Quarter End” means the last day of each Quarter (i.e.,
March 31, June 30, September 30 or December 31). The timing of the Quarter End may be established or changed by the Administrator at any time, in its sole discretion. 

2.41. “Section 409A” means Section 409A of the Code, and the U.S. Department of
Treasury Regulations and other interpretive guidance issued thereunder. 
 2.42. “Section 423
Component” means those Offerings under the Plan that are intended to meet the requirements under Section 423(b) of the Code. 

2.43. “Shares” means any Class A Shares and/or Class A ADSs, as the context may require (and in either case,
as determined by the Administrator in its discretion), and such other securities as may be substituted for such Shares pursuant to Section 5.2 hereof. 

2.44. “Share Account” means an account maintained in the Participant’s name at a stock brokerage or other
financial services firm designated by the Company. 
 2.45. “Subsidiary” means any entity that is a subsidiary
corporation of the Company within the meaning of Section 424(f) of the Code. 
 2.46.
“Tax-Related Items” means any U.S. and non-U.S. federal, provincial, state and/or local taxes
(including, without limitation, income tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax and any employer tax liability which has been transferred to a Participant) for which a Participant is liable in connection
with his or her participation in the Plan. 
 2.47. “Treas. Reg.” means U.S. Department of the Treasury regulations.

 2.48. “Withdrawal Election” has the meaning set forth in Section 6.1(a) hereof. 

ARTICLE 3 
 PARTICIPATION

 3.1. Eligibility. 

(a) Any Eligible Employee who is employed by the Company or a Designated Company on a given Enrollment Date for an Offering Period shall be
eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles 4 and 5 hereof, and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code. 

(b) No Eligible Employee shall be granted an Option under the Section 423 Component which permits the Participant’s rights to
purchase Shares under the Plan, and to purchase shares under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to Section 423 of the Code, to accrue at a rate which exceeds $25,000 of fair market value
of such shares (determined at the time such Option is granted) for each calendar year in which such Option is outstanding at any time. The limitation under this Section 3.1(b) shall be applied in accordance with Section 423(b)(8) of the
Code. 

  
 7 

 3.2. Election to Participate; Payroll Deductions. 

(a) Each individual who is an Eligible Employee as of an Offering Period’s Enrollment Date may elect to participate in such Offering
Period and the Plan by delivering to the Company or an Agent designated by the Company an enrollment form including a payroll deduction authorization (which may be in an electronic format or such other method as determined by the Company in
accordance with the Company’s practices) (a “Participation Election”) no later than the period of time prior to the applicable Enrollment Date determined by the Administrator, in its sole discretion. Except as provided
in Section 3.2(e) hereof, an Eligible Employee may participate in the Plan only by means of payroll deduction. 
 (b) Subject to
Section 3.1(b) hereof and except as may otherwise be determined by the Administrator, payroll deductions (i) shall equal at least 1% of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment
Date, but not more than 5% of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment Date; and (ii) shall be expressed as a whole number percentage. Subject to Section 3.2(e)
hereof, amounts deducted from a Participant’s Compensation with respect to an Offering Period pursuant to this Section 3.2 shall be deducted each Payday through payroll deduction and credited to the Participant’s Plan Account. 

(c) Unless otherwise determined by the Administrator, following at least one payroll deduction, a Participant may increase or decrease the
percentage of Compensation or the fixed dollar amount designated in his or her enrollment form, subject to the limits of this Section 3.2, or may suspend his or her payroll deductions, at any time during an Offering Period; provided,
however, that the Administrator may limit the number of changes a Participant may make to his or her payroll deduction elections during each Offering Period in the applicable Offering (and in the absence of any specific designation by the
Administrator, a Participant shall be allowed one change to his or her payroll deduction elections during each Offering Period). Any such change or suspension of payroll deductions shall be effective with the first full payroll period following ten
business days after the Company’s receipt of the new enrollment form (or such shorter or longer period as may be specified by the Administrator in the applicable Offering). In the event a Participant suspends his or her payroll deductions, such
Participant’s cumulative payroll deductions prior to the suspension shall remain in his or her account and shall be applied to the purchase of Shares on the next occurring Exercise Date and shall not be paid to such Participant unless he or she
withdraws from participation in the Plan pursuant to Section 6.1. 
 (d) Upon the completion of an Offering Period, each Participant in
such Offering Period shall automatically participate in the immediately following Offering Period at the same payroll deduction percentage as in effect at the termination of such Offering Period, unless such Participant delivers to the Company or an
Agent designated by the Company a different Participation Election with respect to the successive Offering Period in accordance with Section 3.2(a) hereof, or unless such Participant becomes ineligible for participation in the Plan. 

  
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 (e) Notwithstanding any other provisions of the Plan to the contrary, in non-U.S. jurisdictions where participation in the Plan through payroll deductions is prohibited or otherwise problematic under applicable local laws (as determined by the Administrator in its sole
discretion), the Administrator may provide that an Eligible Employee may elect to participate through contributions to the Participant’s Plan Account in a form acceptable to the Administrator in lieu of or in addition to payroll deductions;
provided, however, that, for any Offering under the Section 423 Component, the Administrator must determine that any alternative method of contribution is applied on an equal and uniform basis to all Eligible Employees in the
Offering. Any reference to “payroll deductions” in this Section 3.2 (or in any other section of the Plan) will similarly cover contributions by other means made pursuant to this Section 3.2(e). 

ARTICLE 4 
 PURCHASE OF
SHARES 
 4.1. Grant of Option. The Company may make one or more Offerings under the Plan, which may be successive or overlapping
with one another, until the earlier of: (i) the date on which all Shares available under the Plan have been purchased or (ii) the date on which the Plan is suspended or terminates. No Offering shall commence prior to the date on which the
Company’s registration statement on Form S-8 is filed with the U.S. Securities and Exchange Commission in respect of the Plan. The Administrator shall designate the terms and conditions of each
Offering in writing, including without limitation, the Offering Period and the Purchase Periods. Each Participant shall be granted an Option with respect to an Offering Period on the applicable Grant Date. Subject to the limitations of
Section 3.1(b) hereof, the number of Shares subject to a Participant’s Option shall be determined by dividing (a) such Participant’s payroll deductions accumulated prior to an Exercise Date and retained in the Participant’s
Plan Account on such Exercise Date by (b) the applicable Option Price; provided that in the case of the Section 423 Component only, in no event shall a Participant be permitted to purchase during each Offering Period more
than 25,000 Shares (subject to any adjustment pursuant to Section 5.2 hereof). The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of Shares that a
Participant may purchase during any Purchase Periods under such future Offering Periods. Each Option shall expire on the last Exercise Date for the applicable Offering Period immediately after the automatic exercise of the Option in accordance with
Section 4.3 hereof, unless such Option terminates earlier in accordance with Article 6 hereof. 
 4.2. Option Price. The Option
Price shall equal not less than 85% of the lesser of the Fair Market Value of a Share on (a) the applicable Grant Date and (b) the applicable Exercise Date, or such other price designated by the Administrator. 

4.3. Purchase of Shares. 

(a) On each Exercise Date for an Offering Period, each Participant shall automatically and without any action on such Participant’s part
be deemed to have exercised the Participant’s Option to purchase at the applicable Option Price the largest number of whole Shares which can be purchased with the amount in the Participant’s Plan Account, subject to the limitations set
forth in the Plan. Unless otherwise determined by the Administrator in advance of an Offering or in accordance with applicable law, any balance that is remaining in the Participant’s Plan Account (after exercise of such Participant’s
Option) as of the Exercise Date shall be carried forward into the next Offering Period, unless the Participant has properly elected to withdraw from the Plan, has ceased to be an Eligible Employee or with respect to the maximum limitations set forth
in Section 3.1(b) and Section 4.1. Any balance not carried forward to the next Offering Period in accordance with the prior sentence shall promptly be refunded as soon as administratively practicable to the applicable Participant. 

  
 9 

 (b) As soon as practicable following each Exercise Date, the number of Shares purchased by
such Participant pursuant to Section 4.3(a) hereof shall be delivered (either in share certificate or book entry form), in the Company’s sole discretion, to either (i) the Participant or (ii) if applicable, the Participant’s
Share Account. The Company may require that shares be retained in such Share Account or with such stock brokerage or other financial services firm for a designated period of time and/or may establish procedures to permit tracking of disqualifying
dispositions of such shares. 
 4.4. Transferability of Rights. An Option granted under the Plan shall not be transferable, other
than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. No option or interest or right to the Option shall be available to pay off any debts, contracts or
engagements of the Participant or the Participant’s successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by
judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempt at disposition of the Option shall have no effect. Without limiting the foregoing, the Options will not be offered or sold by
means of any document, other than: (i) to “qualified investors” for the purposes of the Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and any rules made or promulgated thereunder, (ii) in other
circumstances which do not result in a requirement for the publication of a “prospectus” as defined in the Prospectus Regulation and/or Financial Services Act 2001 (the “FSMA”) or which do not constitute an offer to the
public within the meaning thereof or (iii) which would not be prohibited by section 21(1) of FSMA. 
 4.5. Share Registry and
Certificates. Promptly following completion of the allotment and issuance of any Options to a Participant pursuant to this Plan, the Company shall: (a) procure that the Participant and the relevant number of Options allotted and issued to
such Participant pursuant to this Plan are entered into the register of members (or such other relevant register) of the Company: (b) complete and despatch to such Participant the relevant certificates for such allotted and issued Options; and
(c) procure that all applicable corporate, governmental and regulatory filings in connection with such allotment and issuance of Shares are promptly made and submitted in accordance with Applicable Law. 

ARTICLE 5 
 PROVISIONS
RELATING TO COMMON SHARES 
 5.1. Shares Reserved. Subject to adjustment as provided in Section 5.2 hereof, the aggregate
number of Shares that may be issued pursuant to rights granted under the Plan shall be 2,000,000 shares (the “Absolute Share Limit”); provided, the Absolute Share Limit may, but need not be, issued pursuant to Options granted
under the Section 423 Component; and provided, further, that, subject to adjustment as provided in Section 5.2 hereof, the Absolute Share Limit 

  
 10 

 
shall be automatically increased on the first day of each fiscal year following the fiscal year in which the Effective Date falls in an amount equal to the least of (x) 0.1% of the total number
of ListCo Shares (as defined in the Business Combination Agreement) outstanding on the last day of the immediately preceding fiscal year, (y) a lower number of ListCo Shares as determined by the Board and (z) 2,000,000. Shares made available
for sale under the Plan may be authorized but unissued shares or treasury Shares; provided, that under the Non-Section 423 Component, Shares may be purchased by the Broker on the open market on the
Participant’s behalf. If any right granted under the Plan shall for any reason terminate without having been exercised, the Shares not purchased under such right shall again become available for issuance under the Plan. 

5.2. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 

(a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number of Shares which have been
authorized for issuance under the Plan but not yet placed under Option (or, with respect to Match Shares, not yet posted to the Participant’s Share Account), as well as the price per share and the number of Shares covered by each Option under
the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a share split, reverse share split, share dividend, combination, amalgamation, consolidation,
reorganization, arrangement or reclassification of the Shares, or any other increase or decrease in the number Shares effected without receipt of consideration by the Company; provided, however, that conversion of any
convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and
conclusive. Except as expressly provided herein, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or
price of shares of Shares subject to an Option. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Offering Periods then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator shall notify each Participant in writing, at
least ten business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New
Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof. 

(c) Merger, Share Sale or Asset Sale. In the event of a proposed sale of all or substantially all of the shares or assets of the
Company, or the merger of the Company with or into another corporation, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a parent or subsidiary of the successor corporation. If the
successor 

  
 11 

 
corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall
end on the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger. The Administrator shall notify each Participant in writing, at least ten business days prior to the New Exercise Date, that
the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn
from the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof. 

5.3. Insufficient Shares. If the Administrator determines that, on a given Exercise Date or Matching Date, as applicable, the number of
Shares with respect to which Options are to be exercised or subject to Match Shares may exceed the number of Shares remaining available for sale or issuance under the Plan on such Exercise Date or Matching Date, the Administrator shall make a pro
rata allocation of the Shares available for issuance on such Exercise Date or Matching Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants
exercising Options to purchase Shares on such Exercise Date or eligible to receive Match Shares on such Matching Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods or Matching Dates shall take
place and the Plan shall terminate pursuant to Section 7.5 hereof. If an Offering Period is so terminated, then the balance of the amount credited to the Participant’s Plan Account which has not been applied to the purchase of Shares shall
be paid to such Participant in one lump sum in cash within 30 days after such Exercise Date, without any interest thereon (except as may be required by applicable local laws). 

5.4. Rights as Shareholders. With respect to Shares subject to an Option or Match Shares, a Participant shall not be deemed to be a
shareholder of the Company and shall not have any of the rights or privileges of a shareholder. A Participant shall have the rights and privileges of a shareholder of the Company when, but not until, the Shares have been delivered to the Participant
or deposited in the designated brokerage account following exercise of the Participant’s Option or the Matching Date, as applicable. 

  
 12 

 ARTICLE 6 

TERMINATION OF PARTICIPATION 

6.1. Cessation of Contributions; Voluntary Withdrawal. 

(a) A Participant may cease payroll deductions during an Offering Period and elect to withdraw from the Plan by delivering written notice of
such election to the Company or an Agent designated by the Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator (a “Withdrawal Election”). In the
event a Participant elects to withdraw from the Plan, amounts then credited to such Participant’s Plan Account shall be returned to the Participant in one lump-sum payment in cash within 30 days
after such election is received by the Company, without any interest thereon (except as may be required by applicable local laws), and the Participant shall cease to participate in the Plan and the Participant’s Option for such Offering Period
shall terminate upon receipt of the Withdrawal Election.  
 (b) A Participant’s withdrawal from the Plan shall not have
any effect upon the Participant’s eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the
Participant withdraws. 
 (c) A Participant who ceases contributions to the Plan during any Offering Period shall not be permitted to resume
contributions to the Plan during that Offering Period. 
 6.2. Termination of Eligibility. Upon a Participant’s ceasing to be an
Eligible Employee, for any reason, such Participant’s Option for the applicable Offering Period shall automatically terminate, the Participant shall be deemed to have elected to withdraw from the Plan, and any balance on such Participant’s
Plan Account shall be paid to such Participant or, in the case of the Participant’s death, to the person or persons entitled thereto pursuant to applicable law, within 90 days after such cessation of being an Eligible Employee, without any
interest thereon (except as may be required by applicable local laws). If a Participant transfers employment from the Company or any Designated Company participating in the Section 423 Component to any Designated Company participating in the Non-Section 423 Component, such transfer shall not be treated as a termination of employment, but the Participant shall immediately cease to participate in the Section 423 Component; however, any
contributions made for the Offering Period in which such transfer occurs shall be transferred to the Non-Section 423 Component, and such Participant shall immediately join the then-current Offering
under the Non-Section 423 Component upon the same terms and conditions in effect for the Participant’s participation in the Section 423 Component, except for such modifications otherwise
applicable for Participants in such Offering. A Participant who transfers employment from any Designated Company participating in the Non-Section 423 Component to the Company or any Designated
Company participating in the Section 423 Component shall not be treated as terminating the Participant’s employment and shall remain a Participant in the Non-Section 423 Component until the
earlier of (i) the end of the current Offering Period under the Non-Section 423 Component, or (ii) the Enrollment Date of the first Offering Period in which the Participant is eligible to
participate following such transfer. Notwithstanding the foregoing, the Administrator may establish different rules to govern transfers of employment between companies participating in the Section 423 Component and the Non-Section 423 Component, consistent with the applicable requirements of Section 423 of the Code. 

  
 13 

 ARTICLE 7 

GENERAL PROVISIONS 
 7.1.
Administration. 
 (a) The Plan shall be administered by the Committee, which shall be composed of members of the Board. The Committee
may delegate administrative tasks under the Plan to the services of an Agent or Employees to assist in the administration of the Plan, including without limitation, determining the Designated Companies participating in the Plan, establishing and
maintaining an individual securities account under the Plan for each Participant, determining enrollment and withdrawal deadlines and determining exchange rates. In its absolute discretion, the Board may at any time and from time to time exercise
any and all rights and duties of the Administrator under the Plan. 
 (b) It shall be the duty of the Administrator to conduct the general
administration of the Plan in accordance with the provisions of the Plan. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i) To establish and terminate Offerings; 

(ii) To determine when and how Options shall be granted and the provisions and terms of each Offering (which need not be identical); 

(iii) To select Designated Companies in accordance with Section 7.2 hereof; and 

(iv) To construe and interpret the Plan, the terms of any Offering and the terms of the Options and to adopt such rules for the
administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the
Plan, any Offering or any Option, in a manner and to the extent it shall deem necessary or expedient to administer the Plan, subject to Section 423 of the Code for the Section 423 Component. 

(c) The Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific
requirements of local laws and procedures, provided that the adoption and implementation of any such rules and/or procedures would not cause the Section 423 Component to be in noncompliance with Section 423 of the Code. Without
limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling of participation elections, payroll deductions, payment of interest, conversion of local currency, payroll tax,
withholding procedures and handling of share certificates which vary with local requirements. 

  
 14 

 (d) The Administrator may
adopt sub-plans applicable to particular Designated Companies or locations, which sub-plans may be designed to be outside the scope of
Section 423 of the Code. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Section 5.1 hereof, but unless otherwise superseded by the
terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. 

(e) All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne by the Company.
The Administrator may employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such
persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested Persons. No member of the Board or Administrator
shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Options, and all members of the Board or Administrator shall be fully protected by the Company in respect to any such
action, determination, or interpretation. Any and all risks resulting from any market fluctuations or conditions of any nature and affecting the price of Shares are assumed by the Participant. 

7.2. Designation of Affiliates and Subsidiaries. The Administrator shall designate from time to time the Affiliates and Subsidiaries
that shall constitute Designated Companies, and determine whether such Designated Companies shall participate in the Section 423 Component or Non-Section 423 Component; provided,
however, that an Affiliate that does not also qualify as a Subsidiary may be designated only as participating in the Non-Section 423 Component. The Administrator may designate an Affiliate or
Subsidiary, or terminate the designation of an Affiliate or Subsidiary, without the approval of the shareholders of the Company. 
 7.3.
Reports. Individual accounts shall be maintained for each Participant in the Plan. Statements of Plan Accounts shall be given to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option
Price, the number of shares purchased and the remaining cash balance, if any. 
 7.4. No Right to Employment. Nothing in the Plan
shall be construed to give any person (including any Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to terminate the employment of any
person (including any Participant) at any time, with or without cause, which right is expressly reserved. 
 7.5. Amendment and
Termination of the Plan. 
 (a) The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and from time to
time. To the extent necessary to comply with Section 423 of the Code (or any successor rule or provision), with respect to the Section 423 Component, or any other applicable law, regulation or stock exchange rule, the Company shall obtain
shareholder approval of any such amendment to the Plan in such a manner and to such a degree as required by Section 423 of the Code or such other law, regulation or rule. 

  
 15 

 (b) If the Administrator determines that the ongoing operation of the Plan may result in
unfavorable financial accounting consequences, the Administrator may in its discretion modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(i) altering the Option Price for any Offering Period including an Offering Period underway at the time of the change in Option Price; 

(ii) shortening any Offering Period so that the Offering Period ends on a new Exercise Date, including an Offering Period underway at the
time of the Administrator action; and 
 (iii) allocating Shares. 

Such modifications or amendments shall not require shareholder approval or the consent of any Participant. 

(c) Upon termination of the Plan, the balance in each Participant’s Plan Account shall be refunded as soon as practicable after such
termination, without any interest thereon (except as may be required by applicable local laws). 
 7.6. Use of Funds; No Interest
Paid. All funds received by the Company by reason of purchase of shares of Shares under the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose (except as
may be required by applicable local laws). No interest shall be paid to any Participant or credited under the Plan (except as may be required by applicable local laws). 

7.7. Term; Approval by Shareholders. No Option may be granted during any period of suspension of the Plan or after termination of the
Plan. The Plan shall be submitted for the approval of the Company’s shareholders within 12 months after the date of the Board’s initial adoption of the Plan. Options may be granted prior to such shareholder
approval; provided, however, that such Options shall not be exercisable prior to the time when the Plan is approved by the shareholders; provided, further that if such approval has not been
obtained by the end of the 12-month period, all Options previously granted under the Plan shall thereupon terminate and be canceled and become null and void without being exercised. 

7.8. Effect Upon Other Plans. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the
Company, any Parent or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company, any Parent or any Subsidiary (a) to establish any other forms of incentives or compensation for employees of the Company or any
Parent or any Subsidiary, or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of Options in connection with the
acquisition, by purchase, lease, merger, amalgamation, combination, arrangement, consolidation or otherwise, of the business, shares or assets of any corporation, firm or association. 

  
 16 

 7.9. Conformity to Securities Laws. Notwithstanding any other provision of the Plan,
the Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange
Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed
amended to the extent necessary to conform to such applicable exemptive rule. 
 7.10. Notice of Disposition of Shares. Each
Participant shall give the Company prompt notice of any disposition or other transfer of any Shares, acquired pursuant to the exercise of an Option granted under the Section 423 Component, if such disposition or transfer is made (a) within
two years after the applicable Grant Date or (b) within one year after the transfer of such Shares to such Participant upon exercise of such Option. The Company may direct that any certificates evidencing shares acquired pursuant to the Plan
refer to such requirement. 
 7.11. Tax Withholding. At the time of any taxable event that creates a withholding obligation for the
Company or any Parent, Affiliate or Subsidiary, the Participant will make adequate provision for any Tax-Related Items. In their sole discretion, and except as otherwise determined by the
Administrator, the Company or the Designated Company that employs or employed the Participant may satisfy their obligations to withhold Tax-Related Items by (a) withholding from the
Participant’s wages or other compensation, (b) withholding a sufficient whole number of Shares otherwise issuable following exercise of the Option (or delivery of the Match Shares) having an aggregate value sufficient to pay the Tax-Related Items required to be withheld with respect to the Option and/or shares, (c) withholding from proceeds from the sale of Shares issued upon exercise of the Option, either through a
voluntary sale or a mandatory sale arranged by the Company, or (d) any other method as determined by the Administrator to be compliant with applicable laws. 

7.12. Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the laws of the State
of Delaware without regard to conflicts of laws thereof or of any other jurisdiction. 
 7.13. Notices. All notices or other
communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the
receipt thereof. 
 7.14. Conditions to Issuance of Shares. 

(a) Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make any book
entries evidencing Shares pursuant to the exercise of an Option by a Participant or the delivery of Match Shares, unless and until the Administrator has determined, with advice of counsel, that the issuance of such Shares is in compliance with all
applicable laws, regulations of governmental authorities and, if applicable, the requirements of any securities exchange or automated quotation system on which the Shares are listed or traded, and the Shares are covered by an effective registration
statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Administrator may require that a Participant make such reasonable covenants, agreements, and representations as the Administrator, in
its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 

  
 17 

 (b) All certificates for Shares delivered pursuant to the Plan and all Shares issued
pursuant to book entry procedures are subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with U.S. and non-U.S. federal,
provincial, state or local securities or other laws, rules and regulations and the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted, or traded. The Administrator may place legends on any
certificate or book entry evidencing Shares to reference restrictions applicable to the Shares. 
 (c) The Administrator shall have the right
to require any Participant to comply with any timing or other restrictions with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Administrator.

 (d) Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any applicable law,
rule or regulation, the Company may, in lieu of delivering to any Participant certificates evidencing Shares issued in connection with any Option, record the issuance of Shares in the books of the Company (or, as applicable, its transfer agent or
share plan administrator). 
 If, pursuant to this Section 7.14, the Administrator determines that Shares will not be issued to any Participant, the
Company is relieved from liability to any Participant except to refund to the Participant such Participant’s Plan Account balance, without interest thereon (except as may be required by applicable local laws). 

7.15. Equal Rights and Privileges. All Eligible Employees granted Options pursuant to an Offering under the Section 423 Component
shall have equal rights and privileges under this Plan to the extent required under Section 423 of the Code so that the Section 423 Component qualifies as an “employee stock purchase plan” within the meaning of Section 423
of the Code. Any provision of the Section 423 Component that is inconsistent with Section 423 of the Code shall, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges
requirement of Section 423 of the Code. Eligible Employees participating in the Non-Section 423 Component need not have the same rights and privileges as each other, or as Eligible Employees
participating in the Section 423 Component. 
 7.16. Rules Particular to Specific Countries. Notwithstanding anything herein to
the contrary, the terms and conditions of the Plan with respect to Participants who are tax residents of a particular non-U.S. country or who
are non-U.S. nationals or employed in non-U.S. jurisdictions may be subject to an addendum to the Plan in the form of an appendix or sub-plan (which appendix or sub-plan may be designed to govern Offerings under the Section 423 Component or
the Non-Section 423 Component, as determined by the Administrator). To the extent that the terms and conditions set forth in an appendix
or sub-plan conflict with any provisions of the Plan, the provisions of the appendix or sub-plan shall govern. The adoption of any such appendix or sub-plan shall be pursuant to Section 7.1 above. Without limiting the foregoing, the Administrator is specifically authorized to adopt rules and procedures, with respect to Participants who
are

  
 18 

 
non-U.S. nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular
Affiliates or Subsidiaries from participation in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants, payment of interest, conversion of local currency, data
privacy security, payroll tax, withholding procedures, establishment of bank or trust accounts to hold payroll deductions or contributions, provided that the adoption and implementation of any such rules and/or procedures would not cause the
Section 423 Component to be in noncompliance with Section 423 of the Code. 
 7.17. Section 409A. The Section 423
Component of the Plan and the Options granted pursuant to Offerings thereunder are intended to be exempt from the application of Section 409A. Neither the Non-Section 423 Component nor any
Option granted pursuant to an Offering thereunder is intended to constitute or provide for “nonqualified deferred compensation” within the meaning of Section 409A. The Non-Section
423 Component is intended to be exempt from the application of Section 409A under the short-term deferral exception and any ambiguities shall be construed and interpreted in accordance with such intent. Notwithstanding any
provision of the Plan to the contrary, if the Administrator determines that any Option granted under the Plan may be or become subject to Section 409A or that any provision of the Plan may cause an Option granted under the Plan to be or become
subject to Section 409A, the Administrator may adopt such amendments to the Plan and/or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions as the Administrator
determines are necessary or appropriate to avoid the imposition of taxes under Section 409A, either through compliance with the requirements of Section 409A or with an available exemption therefrom. 

*    *    *    *    * 

I hereby certify that the foregoing Plan was adopted by the Board of Directors of Polestar Automotive Holding UK PLC on June 22, 2022. 

I hereby certify that the foregoing Plan was approved by the shareholders of Polestar Automotive Holding UK PLC on June 22, 2022. 

Executed on June 23, 2022. 
  

	
	 /s/ Jan Mikael Alkmark

	 Jan Mikael Alkmark
 Director

  
 19 

 APPENDIX A 

COMPANY MATCH AND ALLOCATION OF MATCH SHARES 

UNDER THE NON-SECTION 423 COMPONENT OF THE PLAN 

1.1. Purchase of Shares. Subject to the determination of the Committee in relation to the operation of the Non-Section 423 Component of the Plan in each relevant participating jurisdiction, (a) with respect to each Non-U.S. Eligible Employee (as defined below) who has elected
to participate in the Plan pursuant to Section 3.2, the full amount credited to such Participant’s Plan Account, and (b) with respect to each Eligible Employee located in the United States who has elected to participate in the Plan
pursuant to Section 3.2, any amount credited to such Participant’s Plan Account that is in excess of the limitation set forth in Section 3.1(b) of the Plan, shall be transferred as soon as practicable following the close of each
payroll period by the Company to the Broker, and the Company shall cause the Broker to use such amount to purchase Shares on the open market on the Participant’s behalf. Any balance remaining after such purchase shall be credited to the
Participant’s Plan Account and shall be used to purchase additional Shares as of the next purchase date (in the case of any Eligible Employee located in the United States, to the extent the balance of the Participant’s Plan Account exceeds
the limitation set forth in Section 3.1(b) of the Plan as of the applicable purchase date), which purchase date may be on such date as the Committee determines in its discretion. For the avoidance of doubt,
Non-U.S. Eligible Employees shall not be eligible to participate in the purchase of Shares pursuant to Article 4 of the Plan. 

1.2. Eligibility to Receive Match Shares; Match Ratio. Under the Non-Section 423 Component of
the Plan, the Committee may, in its discretion, determine to offer Match Shares to all Eligible Employees (including, for the avoidance of doubt, any Eligible Employees located in the United States), which such determination shall be made prior to
the beginning of the relevant Quarter and communicated to the applicable Participants. For each Eligible Employee who (i) is a citizen or resident of a jurisdiction outside the United States (without regard to whether such Eligible Employee is
also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) (a “Non-U.S. Eligible Employee”), (ii) is a Participant in the
Plan and remains an Eligible Employee on each day from a Quarter End until the Matching Date for such Quarter End and (iii) retains the Company Shares purchased during an applicable Quarter from the Quarter End until the Matching Date for such
Quarter End, the number of Match Shares shall be an amount equal to up to 100% of the number of Company Shares credited to the Participant’s Plan Account prior to the Exercise Date; provided, that in no event shall the aggregate value of
Match Shares credited to the Participant’s Plan Account in respect of any calendar year exceed 1% of the Participant’s Compensation on the date the Shares to which such Match Shares relate were purchased unless the Committee, at its
discretion, determines that a different limit should apply in respect of such calendar year. Any Match Shares may be subject to such additional terms and conditions (including with respect to vesting) as the Administrator may determine in its sole
discretion. For the avoidance of doubt, no Match Shares will be provided in respect of any Shares prior to the first anniversary of the date the Match Shares are credited to the Participant’s Plan Account. 

 

  
 A-1 

 1.3. Matching Allocations. As soon as practicable following each Quarter End for
which the Committee has determined to offer Match Shares pursuant to Section 1.1 of this Appendix A (but in any event no later than March 15th of the year following the year in which such Matching Shares are credited), for each Participant
eligible to receive Match Shares, the Company shall cause to be allocated to the Participant’s Share Account that number of Match Shares determined pursuant to this Appendix A. Match Shares shall be posted to the Participant’s Share
Account, as applicable, as soon as practicable after, and credited to the Participant’s Share Account as of, each Matching Date. 

1.4. Broker Fees. The Company shall pay the Broker’s administrative charges for opening the Share Accounts for the Eligible
Employees and the brokerage commissions on purchases made that are attributable to Match Shares and the purchase of Company Shares pursuant to Section 1.1 of this Appendix A. Eligible Employees shall pay all other expenses of their Share
Accounts, including but not limited to the Broker’s fees attributable to the issuance of certificates for any and all Shares held in the Participant’s Share Account. Eligible Employees shall also pay the brokerage commissions and any
charges associated with the sale of Shares held in the Participant’s Share Account. 

  
 A-2

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