Document:

Exhibit 10.3

 

Execution Version

 

Reorganization
AGREEMENT

 

This
Reorganization Agreement, dated as of October 4, 2021 (this “Agreement”), is entered into by and among SLA Holdings
(Cayman) LP (“SBLA”), a Cayman Islands exempted limited partnership, LA BI Holdco LLC (“LA BI”),
a Delaware limited liability company, New LA BI LLC (“New LLC”), a Delaware limited liability company, Inter Platform, Inc.
(“ListCo”), a Cayman Islands exempted company with limited liability, Inter Holding Financeira S.A. (“HoldFin”),
a corporation (sociedade por ações) incorporated under the laws of the Federative Republic of Brazil, Banco Inter
S.A. (“BI”), a corporation (sociedade por ações) incorporated under the laws of the Federative
Republic of Brazil, Rubens Menin Teixeira De Souza (“Mr. R. Menin”) and João Vitor Nazareth Menin Teixeira
De Souza (“Mr. J. Menin” and, together with Mr. R. Menin, the “Majority Shareholders”)
(each individually, a “Party”, and, jointly, the “Parties”).

 

W I
T N E S S E T H:

 

WHEREAS, BI’s common shares, preferred
shares and units (the “BI Shares”) are listed on the São Paulo Stock Exchange, B3 S.A. — Bolsa, Brasil
Balcão (“B3”) Nível 2 segment;

 

WHEREAS,
the Majority Shareholders indirectly own 91.2% of the voting shares of ListCo and 84.3% of the total capital of ListCo, which owns
100% of the total and voting shares of HoldFin, which owns 53.32% of the common shares and 9.43% of the preferred shares of BI, representing
31.44% of the issued and outstanding capital stock of BI;

 

WHEREAS, SBLA owns 100% of the interests of LA BI,
which owns 10.07% of the common shares and 18.93% of the preferred shares of BI, representing 14.49% of the issued and outstanding capital
stock of BI;

 

WHEREAS, LA BI owns 100% of the interests of New
LLC;

 

WHEREAS, the Majority Shareholders, ListCo and BI
desire to effect a corporate reorganization of BI with the purpose of listing shares that ultimately represent the equity of BI on the
NASDAQ Global Select Market;

 

WHEREAS, SBLA wishes to cooperate with the Majority
Shareholders, ListCo and BI in the corporate reorganization;

 

WHEREAS, the Parties desire to effect the transactions
set forth herein in connection with the corporate reorganization (the “Reorganization”), subject to the terms and conditions
contained herein;

 

     

     

    

 

NOW, THEREFORE, in consideration of the mutual covenants
and promises contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the Parties hereto agree as follows:

 

ARTICLE I

4131 CONVERSION

 

1.            Conversion
of 4373 investment into 4131 investment. (a) Subject to the receipt by LA BI of evidence satisfactory to LA BI that ListCo, HoldFin
or BI have available (including pursuant to firm funding commitments subject to customary conditions, or otherwise), in aggregate, cash
and cash equivalents that are unrestricted and otherwise available to be used to pay the cash consideration for the Cash Redeemable Shares
upon their redemption, in an amount equal to the maximum amount specified in the Cash Redemption Threshold Condition (such evidence,
the “Proof of Funds”), upon the earlier of (i) 20 business days after LA BI receives the Proof of Funds, and (ii)
two business days before the call for the BI Shareholders Meeting (as defined below), LA BI shall request the conversion of all of the
BI Shares it then owns into an investment regulated by Brazilian Law 4,131/62 (the “4131 Conversion”). LA BI
shall use commercially reasonable efforts to effect the 4131 Conversion as promptly as practicable after such request.

 

(b) Notwithstanding Section 1(a) of
this Article I, LA BI, at its sole discretion, shall be entitled to request the 4131 Conversion at any time prior to the date specified
therein.

 

ARTICLE II

REGISTRATION AND LISTING OF LISTCO SHARES AND BDRS

 

1.            Registration
and Listing of Class A Common Shares of ListCo. ListCo shall use best efforts to (i) register its class A common shares,
par value US$0.0000025 (the “ListCo Class A Common Shares”) with the U.S. Securities and Exchange Commission (“SEC”)
pursuant to a registration statement on Form F-4 and (ii) apply to list the ListCo Class A Common Shares on the NASDAQ
Global Select Market.

 

2.            Registration
and Listing of BDRs of ListCo. ListCo shall use best efforts to (i) register a Program of Brazilian Depositary Receipts representing
the ListCo Class A Common Shares (“ListCo BDRs”) with the Brazilian Securities Commission (Comissão
de Valores Mobiliários, or “CVM”) and (ii) apply to list the ListCo BDRs on the B3. The ListCo BDRs
will confer to holders of such ListCo BDRs the right to vote the underlying ListCo Class A Common Shares by means of instructions
to the depositary agent of such ListCo BDRs.

 

ARTICLE III

MERGER OF SHARES

 

Concurrently with the actions described in Article II,
the applicable Parties shall take the actions described in this Article III.

 

1.            Preparation
of Merger of Shares. BI and HoldFin shall take all of the necessary steps to prepare the incorporação de ações
(the “Merger of Shares”) through which each share of BI issued and outstanding immediately prior to the Merger of Shares
will be automatically contributed into HoldFin in exchange for a certain number of newly issued HoldFin Redeemable Shares (as defined
below), resulting in BI becoming a wholly-owned subsidiary of HoldFin, including the following:

 

		(a)	BI shall hold a board meeting to approve and recommend the independent appraiser that will prepare a fair market value appraisal report
for the delisting of the BI Shares from B3 (“Appraisal Report”);

 

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		(b)	BI shall procure the preparation of the Appraisal Report and such other documents that are required or necessary for the approval
of the Merger of Shares;

 

		(c)	BI and HoldFin shall execute and deliver the merger of shares agreement
(Protocolo e Justificação de Incorporação de Ações);

 

		(d)	BI shall call a shareholders meeting to approve the Merger of Shares (the “BI Shareholders Meeting”)

 

		(e)	ListCo, as the sole shareholder of HoldFin, shall vote to approve the Merger of Shares in a shareholders meeting of HoldFin.

 

2.            HoldFin
Redeemable Shares. Subject to the approval of the Merger of Shares by the shareholders of BI in the BI Shareholders Meeting,
pursuant to the Merger of Shares, on the Closing Date Holdfin will issue and deliver to each BI shareholder (other than HoldFin) one
of the following classes of mandatorily redeemable shares of HoldFin (“HoldFin Redeemable Shares”), at the
election of each BI shareholder:

 

		(a)	Shares redeemable for cash at the market value set forth in the Appraisal Report (“Cash Redeemable Shares”); or

 

		(b)	Shares redeemable for ListCo BDRs, which may be cancelled by the holders of ListCo BDRs after the Closing Date against delivery of
ListCo Class A Common Shares (“BDR Redeemable Shares”).

 

3.            Cash-Out
Election Period. Subject to the approval of the Merger of Shares by the shareholders of BI in the BI Shareholders Meeting, each BI
shareholder, in its sole discretion, may elect to receive Cash Redeemable Shares instead of BDR Redeemable Shares during a period of up
to five business days following the BI Shareholders Meeting (the “Cash-out Election Period”).

 

4.            LA
BI Election. Subject to the completion by the applicable Parties of the actions described in Articles I, II and Section 1 of Article III hereof, LA BI shall not elect to receive Cash Redeemable Shares during the Cash-out Election Period.

 

5.            Cash
Redemption Threshold Condition. The Merger of Shares shall only become effective if the shareholders of BI elect to receive Cash Redeemable
Shares in a total amount equal to less than an amount to be determined by BI and HoldFin, which amount shall be disclosed in the call
for the BI Shareholders Meeting (the “Cash Redemption Threshold Condition”); provided that BI and HoldFin may
waive the Cash Redemption Threshold Condition following a determination of the board of directors of BI that such waiver is in the best
interest of BI and its shareholders.

 

6.            Merger
Announcement. Within five calendar days after the end of the Cash-out Election Period, BI will announce (the “Merger Announcement”)
the results thereof and whether the Cash Redemption Threshold Condition has been satisfied or waived. In the event that the Cash Redemption
Threshold Condition has been satisfied or waived, ListCo, HoldFin and BI shall use best efforts to effect the Merger of Shares by no later
than December 31, 2021 (such date, the “Closing Date”).

 

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ARTICLE IV

SOFTBANK ROLL-UP

 

Subject to the completion by the applicable Parties
of the actions described in Articles I, II and III hereof (including, for the avoidance of doubt, the satisfaction or waiver of the
Cash Redemption Condition) and no later than two business days after the date of the Merger Announcement, the Parties shall take the following
actions (the “SoftBank Roll-Up”):

 

1.            New
LLC Contribution. SBLA, LA BI and ListCo shall take the following actions (the “New LLC Contribution”):

 

		(a)	LA BI and New LLC shall execute and deliver the contribution agreement substantially in the form attached as Exhibit A hereto,
pursuant to which LA BI shall contribute all of the BI Shares it owns at that time into New LLC;

 

		(b)	LA BI and SBLA shall perform the acts and execute, deliver and file the instruments, documents and agreements necessary to effect
the liquidation of LA BI and distribution of its interests in New LLC to SBLA;

 

		(c)	SBLA and ListCo shall execute and deliver the contribution and
                                                                     exchange agreement substantially in the form attached as Exhibit B hereto, pursuant to which SBLA shall contribute all of its
                                                                     interests in New LLC to ListCo in exchange for, at the sole option of SBLA, the number of ListCo Class A Common Shares or ListCo
                                                                     BDRs that correspond to the total equity in BI represented by the BI Shares contributed by LA BI to New LLC pursuant to Section
                                                                     1(a) of Article IV above; provided, that SBLA shall inform ListCo of its election of ListCo Class A Common Shares or ListCo
                                                                     BDRs no later than the date of the BI Shareholders Meeting; and provided further, that ListCo, BI and SBLA will cooperate
                                                                     with the depositary for the ListCo BDRs and B3 to establish the necessary operational procedures to permit the delivery of ListCo
                                                                     BDRs to SBLA on the date of the New LLC Contribution.

 

2.            Contribution
of BI Shares. Immediately following the New LLC Contribution, ListCo, New LLC and HoldFin shall take the following actions (the “Contribution
of BI Shares”):

 

		(a)	ListCo, New LLC and HoldFin shall execute and deliver the contribution agreement substantially in the form attached as Exhibit C
hereto, including the corporate documents attached to the contribution agreement, pursuant to which ListCo shall contribute all of its
shares in HoldFin to New LLC at book value, and New LLC shall contribute all of its BI Shares to HoldFin.

 

3.            Contribution
of ListCo Shares. Concurrently with the Contribution of BI Shares, ListCo and New LLC shall take the following actions (the “Contribution
of ListCo Shares”):

 

		(a)	ListCo will contribute to New LLC at book value a sufficient number of ListCo BDRs for HoldFin to redeem the HoldFin Redeemable Shares
in accordance with the elections of the BI shareholders; and

 

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		(b)	New LLC will contribute such ListCo Class A Common Shares and ListCo BDRs to HoldFin.

 

ARTICLE V

CLOSING OF THE MERGER OF SHARES

 

On the Closing Date, the Merger of Shares shall become
effective as follows:

 

		(a)	BI shall become a wholly-owned subsidiary of HoldFin;

 

		(b)	HoldFin shall deliver the applicable number of HoldFin Redeemable Shares to each BI shareholder pursuant to its election in accordance
with Section 3 of Article III hereof;

 

		(c)	The HoldFin Redeemable Shares shall be automatically redeemed, and HoldFin shall deliver to each holder thereof (i) one ListCo
BDR per BDR Redeemable Share, or (ii) the applicable cash consideration per Cash Redeemable Share;

 

		(d)	the BI Shares will be delisted from the B3; and

 

		(e)	the ListCo Class A Common Shares will be listed on the NASDAQ
Global Select Market.

 

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

 

1.            Representations
and Warranties of the Parties. Each Party severally and not jointly represents and warrants to each other Party that, as at the date
of this Agreement:

 

		(a)	if not a natural person, it is duly organized and validly existing under the laws of its country of incorporation or formation and
has been in continuous existence since incorporation or formation;

 

		(b)	if a natural person, it has sufficient capacity to enter into this Agreement;

 

		(c)	it is not insolvent or unable to pay its debts as they fall due, and (if not a natural person) has not filed or had filed against
it any petition for its winding-up, reorganization or bankruptcy (other than any filing which could not have the effect of calling into
question the validity of the transactions contemplated in this Agreement);

 

		(d)	it has the right, power and authority, and has taken all action necessary, to execute, deliver and exercise its rights and perform
its obligations under this Agreement;

 

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		(e)	its obligations under this Agreement are, or when the relevant documents are executed will be, enforceable in accordance with their
respective terms;

 

		(f)	the execution and delivery of, and the performance of its obligations under, this Agreement will not:

 

		(i)	if not a natural person, result in a breach of any provision of its memorandum or articles of association or by-laws or equivalent
constitutional documents;

 

		(ii)	result in a breach of, or constitute a default under, any instrument to which it is a party or by which it is bound and which is material
in the context of the transactions contemplated by this Agreement;

 

		(iii)	result in a breach of any order, judgment or decree of any court or governmental entity to which it is a party or by which it is bound
or submits and which is material in the context of the transactions contemplated by this Agreement; or

 

		(iv)	require it to obtain any consent or approval of, or give any notice to or
make any registration with, any governmental entity or any third party which has not been obtained or made at the date of this Agreement,
other than in connection with the registration of the ListCo Class A Common Shares with the SEC and the registration of the
ListCo BDRs with the CVM;

 

		(g)	there is no proceeding pending against, or, to the knowledge of such Party, threatened against or affecting such Party that could
reasonably be expected to prevent, materially delay or materially impair such Party’s ability to perform its obligations hereunder
or to consummate the transactions contemplated in this Agreement.

 

2.            Representations
and Warranties of LA BI. LA BI shall represent and warrant to ListCo, as of the date of the New LLC Contribution, that (i) it
owns good and marketable title to all of the BI Shares contributed to New LLC pursuant to the New LLC Contribution, and such BI Shares
are free and clear of all mortgages, liens, pledges, security interests, charges, claims, restrictions and encumbrances of any nature
whatsoever, and (ii) upon consummation of the New LLC Contribution, New LLC shall have good and valid title to the BI Shares contributed
pursuant to the New LLC Contribution, free and clear of all mortgages, liens, pledges, security interests, charges, claims, restrictions
and encumbrances of any nature whatsoever.

 

3.            Representations
and Warranties of SBLA. SBLA shall represent and warrant to ListCo, as of the date of the New LLC Contribution, that (i) it owns
good and marketable title to all of the interests in New LLC contributed to ListCo pursuant to the New LLC Contribution, and such interests
are free and clear of all mortgages, liens, pledges, security interests, charges, claims, restrictions and encumbrances of any nature
whatsoever, and (ii) upon consummation of the New LLC Contribution, ListCo shall have good and valid title to the interests in New
LLC contributed pursuant the New LLC Contribution, free and clear of all mortgages, liens, pledges, security interests, charges, claims,
restrictions and encumbrances of any nature whatsoever.

 

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4.            Representations
and Warranties of LA BI with respect to New LLC. LA BI represents and warrants to ListCo, as of the date hereof and as of the date
of the New LLC Contribution, that (i) New LLC is duly organized and validly existing under the laws of the State of Delaware, and
has not conducted any economic activity or held any assets or had any liabilities of any nature since its formation; (ii) New LLC
does not have any actual or, to the knowledge of LA BI, potential liability in respect of any taxes (including interest and penalties
thereon) in any jurisdiction; (iii) New LLC is not liable for any obligation of any nature (including taxes) of any person as a transferee
or successor, by contract, or otherwise; (iv) New LLC is, and has been since its formation, a disregarded entity for US tax purposes;
(v) the execution and delivery of, and the performance of its obligations under, this Agreement will not (y) result in
a breach of any provision of the organizational documents of New LLC or (z) require New LLC to obtain any consent or approval
of, or give any notice to or make any registration with, any governmental entity or any third party; (vi) there is no proceeding
pending against, or, to the knowledge of SBLA, threatened against or affecting New LLC; (vii) no power of attorney is currently in
effect relating to New LLC; and (viii) there are no tax allocation, tax sharing or other agreements with or relating to any income
or other taxes with any other person to which New LLC is now or ever has been a party.

 

5.            Representations
and Warranties of ListCo. ListCo shall represent and warrant to SBLA, as of the date of the New LLC Contribution, that
(i) it owns good and marketable title to all of the ListCo Class A Common Shares or ListCo BDRs issued to SBLA pursuant to
the New LLC Contribution, and such interests are free and clear of all mortgages, liens, pledges, security interests, charges,
claims, restrictions and encumbrances of any nature whatsoever, and (ii) upon consummation of the New LLC Contribution, SBLA
shall have good and valid title to the ListCo Class A Common Shares or ListCo BDRs contributed to SBLA pursuant to the New LLC
Contribution, free and clear of all mortgages, liens, pledges, security interests, charges, claims, restrictions and encumbrances of
any nature whatsoever.

 

6.            Representations
and Warranties of ListCo, HoldFin and BI. ListCo, HoldFin and BI represent and warrant to SBLA, as of the Closing Date, that ListCo,
HoldFin or BI will have, in aggregate, cash and cash equivalents that are unrestricted and otherwise available to be used to pay the cash
consideration for the Cash Redeemable Shares upon their redemption, in an amount equal to the maximum amount specified in the Cash Redemption
Threshold Condition.

 

ARTICLE VII

COVENANTS

 

1.            ListCo
Shareholders Agreement. Concurrently with the SoftBank Roll-Up, ListCo and SBLA shall execute and deliver the shareholders agreement
substantially in the form attached as Exhibit D hereto.

 

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2.            Cash
Redemption. ListCo, HoldFin and BI shall use their best efforts to ensure that, by no later than November 1, 2021, ListCo, HoldFin
or BI will have available (including pursuant to firm funding commitments or otherwise), in aggregate, cash and cash equivalents that
are unrestricted and otherwise available to be used to pay the cash consideration for the Cash Redeemable Shares upon their redemption,
in an amount equal to the maximum amount specified in the Cash Redemption Threshold Condition.

 

3.            Unwinding. Upon the earlier of (i) the date of
the Merger Announcement in the event that the Cash Redemption Threshold Condition has not been satisfied or waived, (ii) a termination
of this Agreement pursuant to Section 1(b) of Article IX hereto, (iii) the date BI determines not to proceed with the Reorganization,
or (iv) December 31, 2021 in the event that the Merger of Shares has not otherwise occurred (which date may be extended by written agreement
of all the Parties), the Parties will use their best efforts to unwind the steps of the Reorganization which have already occurred in
the most tax-efficient manner for all Parties (the “Unwinding”).

 

4.            Governance
of BI. From the date hereof until the Closing Date, except as set forth herein:

 

		(a)	ListCo, HoldFin and the Majority Shareholders shall notify SBLA of any material matters in connection with the conduct of BI’s
business outside the ordinary course.

 

		(b)	Without limiting the generality of the above, without the prior approval of SBLA (not to be unreasonably withheld), ListCo and the
Majority Shareholders shall not permit BI to:

 

		(i)	amend its organizational documents in any manner that would be materially adverse to SBLA or the consummation of the Reorganization,
other than in connection with the Reorganization;

 

		(ii)	issue additional equity interests or redeem, split, combine or reclassify any outstanding equity interests of BI, other than in connection
with the convertible notes issued in connection with the Reorganization;

 

		(iii)	adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization;
or

 

		(iv)	take any other action that would be materially adverse to SBLA (including as to its investment in BI and/or ListCo) or would be reasonably
likely to prevent or impede the consummation of the Reorganization.

 

5.            Governance
of LA BI and New LLC. From the date hereof until the Closing Date, except as set forth herein:

 

		(a)	SBLA shall notify BI of any material matters in connection with the conduct of LA BI’s and New LLC’s business outside
the ordinary course that would be reasonably likely to prevent or impede the consummation of the Reorganization.

 

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		(c)	Without limiting the generality of the above, without the prior approval of BI (not to be unreasonably withheld), SBLA shall not permit
LA BI or New LLC to:

 

		(i)	amend the organizational documents of New LLC, or amend the organizational documents of LA BI in any manner that would be materially
adverse to ListCo, HoldFin and the Majority Shareholders or the consummation of the Reorganization;

 

		(ii)	issue additional equity interests or redeem, split, combine or reclassify any outstanding equity interests of LA BI or New LLC;

 

		(iii)	elect to treat New LLC as an association taxable as a corporation for U.S. tax purposes;

 

		(iv)	adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization;
or

 

		(v)	take any other action that would be materially adverse to ListCo, HoldFin and the Majority Shareholders (including in connection with
any investment in any person or assume any other material obligations or liabilities other than in connection with the ownership of the
BI Shares).

 

6.            Transfer
restrictions. (a) Except as set forth herein, from the date of the New LLC Contribution until the Closing Date, the Majority
Shareholders agree not to, directly or indirectly, offer, sell, or dispose of shares of BI which results in the Majority Shareholders
owning, directly or indirectly, less than the number of BI Shares contributed by LA BI pursuant to the New LLC Contribution.

 

(b) For
the avoidance of doubt, LA BI will have no restrictions in connection with its ownership of its BI Shares and may freely transfer and
encumber its BI Shares prior to the New LLC Contribution has occurred; provided that if, prior to the New LLC Contribution, LA
BI ceases to own at least 10% of the issued and outstanding capital stock of BI, this Agreement may be terminated by BI without
any further obligation to any of the Parties; and provided, further, that as of the date of the New LLC Contribution, any BI Shares
contributed by LA BI to New LLC shall be clear of any encumbrances.

 

7.            Review
and Information. (a) All agreements, filings, registration statements and documents necessary to implement the Reorganization,
including ListCo’s submissions and filings with the SEC, will be submitted to SBLA and BI and their respective counsel for their
review, comment and approval (not to be unreasonably withheld) within a reasonable time prior to their execution, use or filing.

 

		(b)	Notwithstanding any other existing reporting obligations, ListCo and the Majority Shareholders will promptly provide SBLA such information
regarding the status of the actions described herein and the implementation of the Reorganization as it may reasonably request.

 

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ARTICLE VIII

INDEMNITY

 

1.            SBLA
Indemnity. SBLA agrees to indemnify and hold harmless the Majority Shareholders, ListCo, HoldFin and BI, from and against any losses
from (i) any and all liabilities of any nature (including tax, labor, civil, criminal, environmental, regulatory and others) of New
LLC accrued prior to or resulting from the New LLC Contribution, (ii) any breach of the representations and warranties of SBLA or
LA BI included herein or in the agreements for implementation of the New LLC Contribution, and (iii) any taxes (including interest
and penalties thereon) owed in any jurisdiction by New LLC (or its direct or indirect regarded parent for U.S. federal income tax purposes),
including as a result of New LLC being treated as a successor to or transferee of another entity, that were accrued or otherwise due in
respect of the status or activities of New LLC or any entity of which New LLC is being treated as a successor or transferee, in each case
prior to, or as a result of, the New LLC Contribution.

 

2.            ListCo
and BI Indemnity. ListCo and BI, jointly and severally, agree to indemnify and hold harmless SBLA from and against any losses from
any breach of the representations of ListCo, BI and the Majority Shareholders included herein.

 

3.            Unwinding.
(a) In the event of an Unwinding, a termination of this Agreement pursuant to Section 1(b) of Article IX hereto or
if the Merger of Shares is not consummated as a result of the Cash Redemption Threshold Condition not being satisfied or waived, ListCo
and BI agree, jointly and severally, to reimburse SBLA for (i) any reasonable costs and expenses of tax advisors and counsel to SBLA
and its affiliates in connection with the reconversion of the 4131 investment back to a 4373 investment, up to an amount of US$500,000
and subject to pre-approval of fee proposals in writing by BI (such pre-approval not to be unreasonably withheld, conditioned or delayed),
and (ii) the Imposto sobre Operações Financeiras in Brazil incurred by SBLA or its affiliates as a result of
the reconversion of the 4131 investment back to a 4373 investment.

 

		(b)	In the event that the Merger of Shares is not consummated due to HoldFin
not having sufficient cash to redeem the Cash Redeemable Shares on the Closing Date, ListCo and BI agree, jointly and severally,
to reimburse SBLA for all the costs and expenses of any nature incurred by SBLA and its affiliates in connection with the preparation,
negotiation and execution of the Reorganization, including but not limited to costs and expenses of tax advisors and counsel and any taxes,
including capital gains taxes, owed by SBLA in connection with the Reorganization (including the reconversion of the 4131 investment back
to a 4373 investment).

 

4.            Other
Tax Liabilities. Other than as described herein, none of the Parties shall be required to indemnify or hold harmless any other Parties
from or against any tax liabilities resulting from any of the transactions contemplated by the Reorganization or in connection with the
Unwinding.

 

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ARTICLE IX

MISCELLANEOUS

 

1.            Termination.
(a) This Agreement, and the obligations of all Parties hereunder, may be terminated by mutual written agreement among all of the
Parties.

 

		(b)	This Agreement, and the obligations of all Parties hereunder, may be terminated by written agreement of ListCo, HoldFin and BI at
any time prior to the BI Shareholders Meeting without the approval or consent of SBLA, LA BI or New LLC; provided that Section 3
of Article VII (Unwinding), Article VIII (Indemnity), Section 2 of Article IX (Expenses) and Section 3 of Article IX
(Confidentiality) shall survive and remain in full force and effect, regardless of any termination of this Agreement pursuant to this
Section 1(b) of Article IX.

 

2.            Expenses.
Any reasonable expenses of United Stated and Brazil counsel to SBLA and its affiliates incurred by SBLA and its affiliates after September 1,
2021 in connection with (i) this Agreement (including the preparation of any term sheet setting forth the terms of this Agreement),
(ii) the implementation of the Reorganization and any actions related thereto, and (iii) the preparation and review of a registration
statement in accordance with the ListCo Shareholders Agreement pursuant to Section 1 of Article VII hereto, will be borne by
BI, subject to pre-approval of fee proposals in writing by BI (such pre-approval not to be unreasonably withheld, conditioned or delayed);
provided, that the expenses payable pursuant to clauses (i) and (ii) of this Section 2 shall not exceed US$500,000;
and provided, further, that all expenses payable pursuant to this Section 2 shall be paid directly by BI upon delivery by
SBLA of the underlying invoices.

 

3.            Confidentiality.
(a) Subject to Section 2(b) and 2(c) of Article IX hereof, the Parties agree to maintain the confidentiality
of the existence of this Agreement and the terms hereof (“Confidential Information”), except that such Confidential
Information may be disclosed (i) to their directors, officers, employees, representatives and agents, including accountants, legal
counsel and other advisors who have a need to know such Confidential Information (it being understood that the persons to whom such disclosure
is made will be informed of the confidential nature of such Confidential Information and instructed to maintain the confidentiality of
such Confidential Information in accordance with the provisions of this Agreement), (ii) to the extent requested by any regulatory
authority, (iii) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (iv) to
any other party to this Agreement, (v) in connection with any suit, action or proceeding relating to this Agreement or the enforcement
of rights hereunder, or (vi) to the extent such Confidential Information becomes publicly available other than as a result of a breach
of this Section 2 of Article IX.

 

		(b)	Notwithstanding Section 2(a) of Article IX above, ListCo and BI shall be permitted to disclose the existence and the
terms of this Agreement and the transactions contemplated thereby in the registration statement on form F-4 filed with the SEC to register
the ListCo Class A Common Shares (including the filing of this Agreement as an exhibit thereto) and in connection with the registration
of the ListCo BDRs with the CVM, and in connection with any other required regulatory filings pursuant to the Reorganization as determined
by ListCo, in each case subject to the review, comment and approval (not to be unreasonably withheld) of SBLA.

 

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		(c)	BI may issue a fato relevante in Brazil announcing SoftBank’s support for the Reorganization and its execution of the
Reorganization Agreement; provided, that a draft of such fato relevante will be submitted to SBLA and BI and their respective
counsel for their review, comment and approval (not to be unreasonably withheld) at least 24 hours prior to its release.

 

		(d)	SBLA and LA BI agree to provide all relevant information required or reasonably advisable in connection with the preparation of the
registration statement on form F-4 filed with the SEC to register the ListCo Class A Common Shares and in connection with the registration
of the ListCo BDRs with the CVM, and in connection with any other required regulatory filings pursuant to the Reorganization.

 

4.            Further
Assurances. The Parties shall do and perform, or cause to be done and performed, any and all such other acts to make, execute, deliver
and/or file, or cause to be made, executed, delivered and/or filed, any and all instruments (including share transfer forms), certificates,
documents, agreements, filings and the payment of transfer taxes and to take any and all actions as may be necessary to effect the transactions
contemplated herein. The parties hereto agree to cooperate at all times from and after the date hereof with respect to all of the matters
described herein, and to execute such further assignments, releases, assumptions, amendments and restatements, notifications and other
documents as may be reasonably requested for the purpose of giving effect to, or evidencing or giving notice of, the transactions contemplated
by this Agreement. Further, the parties shall use all reasonable efforts to obtain any necessary third party consents which are required
to give effect to the transactions contemplated herein.

 

5.            Amendments
and Consents. To the extent that any of the provisions set forth herein constitute an amendment, or to give full effect to the transactions
contemplated hereby any waiver or amendment is required to be given or made, to any relevant document of any entity referred to herein
(including with respect to any applicable restrictions or prohibitions thereof), the parties hereby agree that such document is hereby
amended to effectuate such transactions, and this Agreement shall constitute an amendment to such document, to the extent permitted by
applicable laws. Further, where any further steps are required to be taken to give effect to such changes to a document as contemplated
by this Agreement, the parties shall take such actions and use all reasonable endeavours to procure that such steps are taken promptly.
Each party hereby further agrees that whenever such party’s consent is required with respect to all or any of the matters described
herein, including, without limitation, with respect to any transfer, such party hereby consents on behalf of such party itself and on
behalf of each of such party’s controlled affiliates (including, without limitation, on behalf of any entity in which such party
is a direct or indirect member, shareholder or other representative) to such matter without any further action required.

 

    12 

     

    

 

6.            Binding
Effect. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors
and assigns.

 

7.            Amendment
and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each Party
hereto. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by
the Party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy,
power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise
of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege.

 

8.            Execution
in Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed
to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system,
as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

 

9.            Notices.
Any notice or communication by each of the Parties hereto to the others is duly given if in writing and delivered in person or mailed
by first-class mail (registered or certified, return receipt requested), facsimile, electronic mail or other electronic transmission or
overnight air courier guaranteeing next day delivery.

 

10.          Governing
Law. This Agreement shall be governed by, and interpreted in accordance with, the laws of the State of New York, all rights and remedies
being governed by such laws, without regard to its provisions regarding conflicts of laws to the extent such provisions would result in
this Agreement being governed by the law of another jurisdiction.

 

    13 

     

    

 

11.          Waiver
of Jury Trial. Each of the parties hereto (1) agrees to submit to the non-exclusive jurisdiction
of any United States federal or state court located in the borough of Manhattan, in the City of New York in any action or proceeding arising
out of or relating to this AGREEMENT, (2) irrevocably and unconditionally waives any objection to the laying of venue of any suit
or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in federal and state courts located
in the Borough of Manhattan, in The City of New York and irrevocably and unconditionally waives and agrees not to plead or claim in any
such court that any such suit or proceeding in any such court has been brought in an inconvenient forum and (3) hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this AGREEMENT or the transactions contemplated hereby.

 

[Signature Page Follows]

 

    14 

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Reorganization Agreement to be duly executed as of the date first above written.

 

	 	SLA Holdings (Cayman) LP
	 	 	 
	 	 	 
	 	By:	/s/ Patricia Menendez Cambo
	 	 	Name:  Patricia Menendez Cambo
	 	 	Title:  Director
	 	 	 
	 	LA BI Holdco LLC
	 	 	 
	 	 	 
	 	By:	/s/ Patricia Menendez Cambo
	 	 	Name:  Patricia Menendez Cambo
	 	 	 
	 	New LA BI LLC
	 	 	 
	 	 	 
	 	By:	/s/ Patricia Menendez Cambo
	 	 	Name:  Patricia Menendez Cambo
	 	 	Title:  Manager
	 	 	 

 

[Reorganization Agreement – Signature
Page]

 

     

     

    

 

	 	Inter Platform, Inc.
	 	 	 
	 	 	 
	 	By:	/s/ Alexandre Riccio de Oliveira
	 	 	Name:  Alexandre Riccio de Oliveira
	 	 	Title:  Officer
	 	 	 
	 	Inter Holding Financeira S.A.
	 	 	 
	 	 	 
	 	By:	/s/ Rubens Menin Teixeira de Souza
	 	 	Name:  Rubens Menin Teixeira de Souza
	 	 	Title:  Officer
	 	 	 
	 	By:	/s/ João Vitor N. Menin T. de Souza
	 	 	Name:  João Vitor N. Menin T. de Souza
	 	 	Title:  Officer
	 	 	 
	 	Banco Inter S.A.
	 	 	 
	 	 	 
	 	By:	/s/ Alexandre Riccio de Oliveira
	 	 	Name:  Alexandre Riccio de Oliveira
	 	 	Title:  Vice-President
	 	 	 

	 	By:	/s/ João Vitor N. Menin T. de Souza
	 	 	Name:  João Vitor N. Menin T. de Souza
	 	 	Title:  CEO

	 	 	 
	 	Rubens Menin Teixeira De Souza
	 	 	 
	 	 	 
	 	By:	/s/ Rubens Menin Teixeira de Souza
	 	 	 
	 	João Vitor Nazareth Menin Teixeira De Souza
	 	 	 
	 	 	 
	 	By:	/s/ João Vitor N. Menin T. de Souza

 

[Reorganization Agreement – Signature
Page]

 

     

     

    

 

List of Exhibits

 

		·	Exhibit A – Contribution Agreement between LA BI and New LLC – Provides for the contribution by LA BI of all the
BI Shares it owns at that time into New LLC

 

		·	Exhibit B – Contribution and Exchange Agreement between SBLA and ListCo – Provides for the contribution by SBLA
                                                                                                               of all of its interest in New LLC to ListCo in exchange in exchange for the number of ListCo Class A Common Shares or ListCo
                                                                                                               BDRs that correspond to the total equity in BI represented by the BI Shares contributed by LA BI to New LLC

 

		·	Exhibit C – Contribution Agreement by and among ListCo, New LLC and HoldFin – Provides for contribution by ListCo
of its HoldFin shares to New LLC and for the contribution by New LLC of all of its BI Shares to HoldFin

 

		·	Exhibit D – Form of ListCo Shareholders Agreement – Included as Exhibit 10.4Exhibit 10.4

 

Form of

 

Inter
Platform, Inc.

 

SHAREHOLDERS AGREEMENT

 

[•], 2021

 

     

     

    

 

TABLE OF CONTENTS

  

	 	 	Page

 

	1.	Definitions	1

 

	2.	Registration Rights	3

 

	 	2.1	Request for Registration	3

 

	 	2.2	Company Registration	4

 

	 	2.3	Form F-3 Registration	5

 

	 	2.4	Obligations of the Company	6

 

	 	2.5	Information from Participating Holders	7

 

	 	2.6	Expenses of Registration	7

 

	 	2.7	Indemnification	7

 

	 	2.8	Reports Under the 1934 Act	9

 

	 	2.9	Assignment of Registration Rights	9

 

	 	2.10	Limitations on Subsequent Registration Rights	10

 

	 	2.11	Termination of Registration Rights	10

 

	3.	Offering In Brazil	10

 

	 	3.1	Incorporation by Reference	10

 

	4.	Agreements Among the Company and the Holders	10

 

	 	4.1	Board Nomination Rights; Substitution	10

 

	 	4.2	Regulatory Restrictions	11

 

	 	4.3	Cooperation with Respect to Loans	11

 

	5.	Miscellaneous.	11

 

	 	5.1	Assignments; Successors and Assigns	11

 

	 	5.2	Governing Law	11

 

	 	5.3	Counterparts	12

 

	 	5.4	Titles and Subtitles	12

 

	 	5.5	Notices	12

 

	 	5.6	Entire Agreement	12

 

	 	5.7	Severability	12

 

	 	5.8	Amendments and Waivers	12

 

	 	5.9	Further Assurances	12

 

	 	5.10	Third Party Rights	12

 

	 	5.11	Aggregation of Equity Securities	13

 

	 	5.12	Investor Agreement	13

 

	 	5.13	Dispute Resolution	13

 

	 	5.14	WAIVER OF JURY TRIAL	13

 

    i

     

    

 

sHAREHOLDERS
AGREEMENT

 

THIS SHAREHOLDERS AGREEMENT
(the “Agreement”) is made on [•], 2021, by and among SoftBank Group Corp. (“SoftBank
Group”), SLA Holdings (Cayman) LP (“SBLA” and, together with SoftBank Group, “SoftBank”),
a Delaware limited liability company, Rubens Menin Teixeira de Souza (“Rubens”), João Vitor Nazareth
Menin Teixeira de Souza (“João” and, together with Rubens, directly or through any vehicle through which
they hold their interest in the Company, the “Majority Shareholders” and, together with SoftBank Group
and SBLA, the “Holders”), Banco Inter S.A., a Brazilian sociedade por ações (“BI”), Inter
Platform, Inc., a Cayman Islands exempted company with limited liability (the “Company” and together
with the Holders, the “Parties”).

 

WHEREAS, SoftBank Group,
the Majority Shareholders and BI are parties to that Investor Agreement, dated September 13, 2019 (the “Investor Agreement”);

 

WHEREAS, the Parties
are party to the Reorganization Agreement, dated October 1, 2021, (the “Reorganization Agreement”) by
and among the Company, SBLA, the Majority Shareholders, New LA BI LLC, and Inter Holding Financeira S.A., a corporation (sociedade
por ações) incorporated under the laws of the Federative Republic of Brazil;

 

WHEREAS, in connection
with the transactions contemplated in the Reorganization Agreement, and as a condition to the willingness of SBLA to consummate such
transactions, the Parties wish to enter into this Agreement.

 

WHEREAS, the Parties
wish that the Investor Agreement be terminated on the date hereof and this Agreement shall govern the rights of the Holders to cause
the Company to register its Equity Securities, and certain other matters as set forth herein, as at the date hereof;

 

NOW, THEREFORE, in consideration
of the foregoing premises and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:

 

1.            Definitions.

 

(a)            The
term “1934 Act” means the United States Securities Exchange Act of 1934, as amended.

 

(b)           The
term “Act” means the United States Securities Act of 1933, as amended.

 

(c)            The
term “Affiliate” means, with respect to any Person, any other Person who or which, directly or indirectly,
Controls, is Controlled by, or is under common Control with such specified Person, including, without limitation, any general partner,
officer, director or manager of such Person and any venture capital fund now or hereafter existing that is Controlled by one or more
general partners or managing members of, or is under common investment management with, such Person. The term “Control”
(including, with correlative meanings, the terms “Controlling”, “Controlled by” and “under
common Control with”), as used with respect 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 securities, by contract
or otherwise. For purposes of this Agreement, to be “affiliated” or “Affiliated” with a Person shall mean to
be an Affiliate (as defined in this Section 1.(c)) of such Person. For the avoidance of doubt, with respect to SoftBank, the term “Affiliate”
shall include any limited partnership whose manager or general partner is controlled, directly or indirectly, by SoftBank Group, and
all affiliates and investees of such limited partnership.

 

    1

     

    

 

(d)           The
term “Board” means the Company’s Board of Directors, as constituted from time to time.

 

(e)            The
term “CVM” means the Comissão de Valores Mobiliários, securities regulator of Brazil.

 

(f)            The
term “Director” means any member of the Board (other than any advisory, honorary or other non-voting member
of the Board).

 

(g)           The
terms “Dollars” and “US$” mean United States Dollars.

 

(h)           The
term “Equity Securities” means any securities in the Company having voting rights in the election of the Board,
or any securities evidencing an ownership interest in the Company, or any securities convertible into or exercisable for any of the foregoing,
including, for the avoidance of doubt, Brazilian Depositary Receipts representing securities in the Company.

 

(i)            The
term “Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405 under the Act.

 

(j)            The
term “Form F-3” means such form under the Act as in effect on the date hereof or any registration form
under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other
documents filed by the Company with the SEC.

 

(k)           The
term “Initial Offering” means the Company’s first firm commitment underwritten public offering of its
Equity Securities under the Act, which decision to undertake such offering shall be at the sole discretion of the Company.

 

(l)            The
term “Person” shall mean any individual, corporation, partnership, trust, limited liability company, association
or other entity.

 

(m)           The
term “Transfer” means any sale, assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift, transfer
by bequest, devise or descent, or other transfer or disposition of any kind, including, but not limited to, transfers pursuant to divorce
or legal separation, transfers to receivers, levying creditors, trustees or receivers in bankruptcy proceedings or general assignees for
the benefit of creditors, whether voluntary, involuntarily or by operation of law, directly or indirectly, of any of the Equity Securities.

 

(n)           The
terms “register”, “registered”, and “registration” refer
to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration
or ordering of effectiveness of such registration statement or document.

 

(o)           The
term “Registrable Securities” means any Equity Securities of the Company (including any shares, units or depositary
receipts representing such shares or units) now held by a Holder, or any of its Affiliates, or hereafter issued by the Company in connection
with the conversion or exchange of any Equity Securities now held by a Holder or any of its Affiliates.

 

(p)           The
term “Rule 144” shall mean Rule 144 under the Act.

 

(q)           The
term “SEC” shall mean the Securities and Exchange Commission.

 

    2

     

    

 

2.            Registration
Rights . The Company covenants and agrees, and, so long as the Majority Shareholders beneficially own more than fifty percent (50%)
of the Company’s Equity Securities, the Majority Shareholders covenant and agree that they shall cause the Company to comply with,
the following:

 

2.1           Request
for Registration.

 

(a)            If
at any time the Company shall receive a written request from any Holder (for purposes of this Section 2.1, the “Initiating
Holder”) that the Company file a registration statement under the Act covering the registration of Registrable Securities
held by Holders with an anticipated aggregate offering price of at least US$50,000,000, then the Company shall, within twenty (20)
days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 2.1,
use all commercially reasonable efforts to effect, as soon as practicable, the registration under the Act of all Registrable Securities
that the Holders requests to be registered in a written request received by the Company within twenty (20) days of the mailing of
the Company’s notice pursuant to this Section 2.1(a).

 

(b)           If
the Initiating Holder intends to distribute the Registrable Securities covered by its request by means of an underwriting, it shall so
advise the Company as a part of its request made pursuant to this Section 2.1 and the Company shall include such information in the
written notice referred to in Section 2.1(a). In such event the right of any Holder to include its Registrable Securities in such
registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s
Registrable Securities in the underwriting (unless otherwise mutually agreed by the Initiating Holder and such Holder) to the extent provided
herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary
form with the underwriter or underwriters selected for such underwriting by all of the Holders (which underwriter or underwriters shall
be reasonably acceptable to the Company). Notwithstanding any other provision of this Section 2.1, if the underwriter advises the
Company that marketing factors require a limitation on the number of securities underwritten (including Registrable Securities), then
the Company shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number
of shares that may be included in the underwriting shall:

 

(i)            in
the event that SoftBank is the Initiating Holder, first be allocated to SoftBank and the remainder to the Majority Shareholders pro rata,
based on the number of Registrable Securities initially requested by each Majority Shareholder to be registered, as set forth in the notice
given by such Majority Shareholder pursuant to Section 2.1(a). In no event shall any Registrable Securities held by SoftBank be excluded
from such underwriting unless all other securities are first excluded;

 

(ii)           in
the event that any of the Majority Shareholders is the Initiating Holder, be allocated pro-rata among the Participating Holders (as defined
below) based on the number of Registrable Securities initially requested by each Participating Holder to be registered, as set forth in
the notice given by such Participating Holder pursuant to Section 2.1(a);

 

(iii)          and,
in the case of (i)-(ii) above, any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the
registration.

 

    3

     

    

 

(c)           Notwithstanding
the foregoing, the Company shall not be required to effect a registration pursuant to this Section 2.1:

 

(i)            in
any calendar year, after the Company has effected two (2) registrations pursuant to this Section 2.1, and such registrations
have been declared or ordered effective; or

 

(ii)           during
the period starting sixty (60) days prior to the Company’s good faith estimate of the date of the filing of and ending on a
date one hundred eighty (180) days following the effective date of a Company-initiated registration subject to Section 2.2 below,
provided that the Company is actively employing in good faith all commercially reasonable efforts to cause such registration statement
to become effective; or

 

(iii)          if
the Initiating Holder proposes to dispose of Registrable Securities that may be registered on Form F-3 pursuant to Section 2.3
hereof; or

 

(iv)          if
the Company shall furnish to the Holders a certificate signed by the Chairman of the Board, stating that in the good faith judgment of
the Board it would be seriously detrimental to the Company and its shareholders for such registration statement to be effected at such
time, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) days after
receipt of the request of the Initiating Holder, provided that such right shall be exercised by the Company not more than once in any
twelve (12)-month period and provided further that the Company shall not register any securities for the account of itself or any
other shareholder during such ninety (90)-day period.

 

2.2           Company
Registration.

 

(a)            If
(but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the Company
for shareholders other than the Holders) any of its shares or other securities under the Act in connection with the public offering of
such securities (other than a registration relating solely to the sale of securities to participants in a company share plan, a registration
relating to a corporate reorganization or merger or exchange or similar transaction), the Company shall, at such time, promptly give
each Holder written notice of such registration. Upon the written request of each Holder given within twenty (20) days after mailing
of such notice by the Company in accordance with Section 5.5, the Company shall, subject to the provisions of Section 2.2(c),
use all commercially reasonable efforts to cause to be registered under the Act all of the Registrable Securities that each such Holder
requests to be registered.

 

(b)           Right
to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2
prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The
expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.6 hereof.

 

(c)           Underwriting
Requirements. In connection with any offering involving an underwriting of shares of the Company’s capital, the Company shall
not be required under this Section 2.2 to include any Holders’ securities in such underwriting unless they enter into an underwriting
agreement in customary form with such underwriters selected by the Holders that have elected to include securities in a registration
pursuant to this Section 2.2. If the total amount of securities, including Registrable Securities, requested by Holders to be included
in such offering exceeds the amount of securities sold other than by the Company that the underwriters reasonably determine is compatible
with the success of the offering, then the Company shall be required to include in the offering only that number of such securities,
including Registrable Securities, that the underwriters determine will not jeopardize the success of the offering. In the event that
the underwriters determine that less than all of the Registrable Securities requested by the Holders to be registered can be included
in such offering, then the Registrable Securities that are included in such offering shall be allocated pro-rata among the Participating
Holders based on the number of Registrable Securities initially requested by each Participating Holder to be registered, as set forth
in the notice given by such Participating Holder pursuant to Section 2.2(a).

 

    4

     

    

 

2.3           Form F-3
Registration. In case the Company shall receive from any of the Holders (for purposes of this Section 2.3, the “F-3
Initiating Holder”) a written request that the Company effect a registration on Form F-3 and any related qualification
or compliance with respect to all or a part of the Registrable Securities owned by such F-3 Initiating Holder, the Company shall:

 

(a)            promptly
give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and

 

(b)           use
all commercially reasonable efforts to effect, as soon as practicable, such registration and all such qualifications and compliances as
may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such F-3 Initiating Holder’s
Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other
Holders joining in such request as are specified in a written request given within twenty (20) days after receipt of such written
notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or
compliance, pursuant to this section 2.3:

 

(i)            if
Form F-3 is not available for such offering by Holders;

 

(ii)           if
the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell
Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts
or commissions) of less than US$25,000,000;

 

(iii)          if
the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.3 a certificate signed by the
Chairman of the Board stating that in the good faith judgment of the Board it would be seriously detrimental to the Company and its shareholders
for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for
a period of not more than ninety (90) days after receipt of the request of the F-3 Initiating Holder, provided that such right shall
be exercised by the Company not more than once in any twelve (12)-month period and provided further that the Company shall not register
any securities for the account of itself or any other shareholder during such ninety (90)-day period;

 

(iv)          if
the Company has, within the twelve (12) month period preceding the date of such request, already effected two (2) registrations
on Form F-3 for the F-3 Initiating Holder pursuant to this Section 2.3; or

 

(v)           in
the circumstances described in Section 2.1(c)(ii) hereof.

 

(c)           If
the F-3 Initiating Holder intends to distribute the Registrable Securities covered by its request by means of an underwriting, it shall
so advise the Company as a part of its request made pursuant to this Section 2.3. The provisions of Section 2.1(b) shall
be applicable to such request (with the substitution of Section 2.3 for references to Section 2.1).

 

    5

     

    

 

(d)            Subject
to the foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so requested
to be registered as soon as practicable after receipt of the request or requests of the F-3 Initiating Holder. Registrations effected
pursuant to this Section 2.3 shall not be counted as requests for registration effected pursuant to Section 2.1.

 

2.4           Obligations
of the Company. Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company
shall, as expeditiously as reasonably possible:

 

(a)            prepare
and file with the SEC a registration statement with respect to such Registrable Securities and use all commercially reasonable efforts
to cause such registration statement to become effective, and, upon the request of any of the Holders, keep such registration statement
effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration
statement has been completed, subject to the right of the Company to suspend use of the registration statement for a period of not more
than 90 days in any 12-month period under the circumstances set forth in Sections 2.1(c)(iv) and 2.3(b)(iii);

 

(b)            prepare
and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities
covered by such registration statement, subject to the suspension right in (a) above;

 

(c)            furnish
to any of the Parties whose Registrable Securities are being registered under the Act pursuant to this Section 2 (the “Participating
Holders”), such number of copies of a prospectus, including a preliminary prospectus and a Free Writing Prospectus,
in conformity with the requirements of the Act, and such other documents as such Party may reasonably request in order to facilitate
the disposition of Registrable Securities owned by it;

 

(d)            use
all commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities
or blue sky laws of such jurisdictions as shall be reasonably requested by the Participating Holders; provided that the Company shall
not be required in connection therewith or as a condition thereto to qualify to do business or file a general consent to service of process
in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required
under the Act;

 

(e)            in
the event the Company or any of the Participating Holders shall request an underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering;

 

(f)             notify
the Participating Holder at any time when a prospectus or Free Writing Prospectus (to the extent prepared by or on behalf of the Company)
relating thereto is required to be delivered under the Act of the happening of any event as a result of which the prospectus included
in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing,
and, at the request of any Participating Holder, the Company will, as soon as reasonably practicable, file and furnish to such Participating
Holder a supplement or amendment to such prospectus or Free Writing Prospectus (to the extent prepared by or on behalf of the Company)
so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement
of a material fact or omit to state any fact necessary to make the statements therein not misleading in light of the circumstances under
which they were made;

 

    6

     

    

 

(g)            cause
all such Registrable Securities registered pursuant to this Section 2 to be listed on a national exchange or trading system and
on each securities exchange and trading system on which similar securities issued by the Company are then listed; and

 

(h)            provide
a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and a CUSIP number for all such Registrable
Securities, in each case not later than the effective date of such registration.

 

2.5           Information
from Participating Holders. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this
Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information
regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be reasonably
required to effect the registration of such Holder’s Registrable Securities.

 

2.6           Expenses
of Registration. All expenses (other than underwriting discounts and commissions and fees and expenses of counsel or advisors to
the Participating Holders, which shall be borne by the Participating Holders) incurred in connection with registrations, filings or qualifications
pursuant to Sections 2.1, 2.2 and 2.3, including (without limitation) all registration, filing and qualification fees, printers’
and accounting fees, fees and disbursements of counsel for the Company shall be borne by the Company.

 

2.7           Indemnification.
In the event any Registrable Securities are included in a registration statement:

 

(a)            To
the extent permitted by law, the Company will indemnify and hold harmless each Participating Holder, the partners, members, officers,
directors and stockholders of such Participating Holder and each person, if any, who controls such Participating Holder within the meaning
of the Act or the 1934 Act, against any actual losses, claims, damages or liabilities (joint or several) to which they may become subject
under the Act, the 1934 Act, any state or foreign securities laws or any rule or regulation promulgated under the Act, the 1934
Act or any state or foreign securities laws, insofar as such losses, claims, damages, or liabilities (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon any of the following statements, omissions or violations
(collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material
fact contained in such registration statement, including any preliminary prospectus, final prospectus, or Free Writing Prospectus contained
therein or any amendments or supplements thereto, any issuer information (as defined in Rule 433 of the Act) filed or required to
be filed pursuant to Rule 433(d) under the Act or any other document incident to such registration prepared by or on behalf
of the Company or used or referred to by the Company, (ii) the omission or alleged omission to state in such registration statement
a material fact required to be stated therein, or necessary to make the statements therein not misleading or (iii) any violation
or alleged violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under
the Act, the 1934 Act or any state securities laws, and the Company will reimburse each Participating Holder, controlling person or other
aforementioned person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such
actual loss, claim, damage, liability, action or proceeding as such expenses are incurred; provided, however, that the indemnity agreement
contained in this subsection 2.7(a) shall not apply to amounts paid in settlement of any such actual loss, claim, damage, liability,
action or proceeding if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld),
nor shall the Company be liable in any such case for any such actual loss, claim, damage, liability, action or proceeding to the extent
that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished
expressly for use in connection with such registration by such Participating Holder, controlling person or other aforementioned person;
provided further, however, that the foregoing indemnity agreement with respect to any preliminary prospectus shall not inure to the benefit
of such Participating Holder or other aforementioned person, or any person controlling such Participating Holder, from whom the person
asserting any such actual losses, claims, damages or liabilities purchased shares in the offering, if a copy of the most current prospectus
was not sent or given by or on behalf of such Participating Holder or other aforementioned person to such person, if required by law
to have been so delivered, at or prior to the written confirmation of the sale of the shares to such person, and if the prospectus (as
so amended or supplemented) would have cured the defect giving rise to such loss, claim, damage or liability.

 

    7

     

    

 

(b)            To
the extent permitted by law, each Participating Holder will indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act against
any actual losses, claims, damages or liabilities (severally and not jointly) to which any of the foregoing persons may become subject,
under the Act, the 1934 Act, any state or foreign securities laws or any rule or regulation promulgated under the Act, the 1934
Act or any state or foreign securities laws, insofar as such actual losses, claims, damages or liabilities (or actions or proceedings,
whether commenced or threatened, in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only
to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Participating
Holder expressly for use in connection with such registration; and such Participating Holder will reimburse any person intended to be
indemnified pursuant to this subsection 2.7(b) for any legal or other expenses reasonably incurred by such person in connection
with investigating or defending any such actual loss, claim, damage, liability, action or proceeding as such expenses are incurred; provided,
however, that the indemnity agreement contained in this subsection 2.7(b) shall not apply to amounts paid in settlement of
any such actual loss, claim, damage, liability, action or proceeding if such settlement is effected without the consent of such Participating
Holder (which consent shall not be unreasonably withheld), and provided that in no event shall any indemnity under this subsection 2.7(b) exceed
the net proceeds from the offering received by such Participating Holder.

 

(c)            Promptly
after receipt by an indemnified party under this Section 2.7 of notice of the commencement of any action or proceeding (including
any governmental action or proceeding), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying
party under this Section 2.7, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying
party shall have the right to participate in and, to the extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an
indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the
right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified
party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between
such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such action or proceeding, if prejudicial to its ability to defend
such action or proceeding, shall relieve such indemnifying party of liability to the indemnified party under this Section 2.7 to
the extent of such prejudice, but the omission to so deliver written notice to the indemnifying party will not relieve it of any liability
that it may have to any indemnified party otherwise than under this Section 2.7.

 

    8

     

    

 

(d)            If
the indemnification provided for in this Section 2.7 is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss,
liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the
one hand and the indemnified party on the other hand in connection with the statements or omissions that resulted in such loss, liability,
claim, damage or expense, as well as any other relevant equitable considerations; provided, however, that (i) no contribution by
such Participating Holder, when combined with any amounts paid by such Participating Holder pursuant to Section 2.7(b), shall exceed
the net proceeds from the offering received by such Participating Holder and (ii) no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) will be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The relative fault of the indemnifying party and the indemnified party shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

(e)            Notwithstanding
the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered
into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting
agreement shall control.

 

(f)             The
obligations of the Company and the Participating Holders under this Section 2.7 shall survive the completion of any offering of
Registrable Securities in a registration statement under this Section 2 and otherwise.

 

2.8           Reports
Under the 1934 Act. With a view to making available to the Holders the benefits of Rule 144 and any other rule or regulation
of the SEC that may at any time after the Initial Offering permit the any of the Holders to sell securities of the Company to the public
without registration or pursuant to a registration on Form F-3, the Company agrees to:

 

(a)            make
and keep public information available, as those terms are understood and defined in Rule 144, at all times after the effective date
of the Initial Offering;

 

(b)            file
with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act; and

 

(c)            furnish
to each Holder, so long such Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company
that it has complied with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date
of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it has become subject to such
reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form F-3 (at any time after
it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents
so filed by the Company, and (iii) such other information as may be reasonably requested to avail the Holders of any rule or
regulation of the SEC that permits the selling of any such securities without registration or pursuant to such form.

 

2.9           Assignment
of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section 2 may be
assigned (but only with all related obligations) by any of the Holders to a transferee or assignee of such securities that is an Affiliate,
subsidiary, parent or investee of any of the Holders, provided: (a) the Company is, within a reasonable time after such transfer,
furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration
rights are being assigned; (b) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions
of this Agreement; and (c) such assignment shall be effective only if immediately following such transfer the further disposition
of such securities by the transferee or assignee is restricted under the Act.

 

    9

     

    

 

2.10         Limitations
on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent
of the Holders, enter into any agreement with any holder or prospective holder of any securities of the Company that would provide to
such holder the right to include any of such securities in any registration filed under Section 2.1, Section 2.2 or Section 2.3
hereof on other than a subordinate basis with respect to the Registrable Securities.

 

2.11         Termination
of Registration Rights. The rights that the Holders shall be entitled to exercise under this Section 2 shall terminate upon
the earlier of: (i) five (5) years following the date of the Initial Offering or (ii) such earlier time after the
Initial Offering at which such Party holds five percent (5%) or less of the Company’s outstanding Equity Securities and all
Registrable Securities held by such Party (together with any affiliate of such Party with whom such Party must aggregate its sales under
Rule 144) can be sold in any ninety (90)-day period without registration in compliance with Rule 144.

 

3.            Offering
In Brazil. (a) If (but without any obligation to do so) the Company proposes to carry out any potential public offering of Equity
Securities in Brazil (a “Brazil Offering”), whether or not such offering is conducted in conjunction with
an offering in the United States under the terms of Section 3, to be conducted under applicable rules issued by CVM, the Company
shall promptly give written notice to the Holders (“Brazil Offering Notice”), indicating the amount of Registrable
Securities it intends to offer in such Brazil Offering. Any Holder may join such Brazil Offering by giving within twenty (20) days
as from the date of the mailing of the Inter Brazil Offering Notice in accordance with Section 5.5, indicating the amount of Registrable
Securities it intends to offer in such Brazil Offering.

 

(b) All provisions set
out in subsections 2.2 above shall apply, mutatis mutandis, to any Brazil Offering pursuant to this Section 3.2. For the
avoidance of doubt, the Company shall determine, in its sole discretion, whether or not to seek a Brazil Offering in Brazil for the sale
of Equity Securities by the Company.

 

3.1           Incorporation
by Reference. Sections 2.2(c), 2.5, 2.7, 2.9, 2.10 and 2.11 shall apply, mutatis mutandis, to any Brazil Offering
Pursuant to this Section 3.

 

4.            Agreements
Among the Company and the Holders.

 

4.1           Board
Nomination Rights; Substitution(i)     .

 

(a)            SoftBank
Group will have the right to nominate an individual for election to the Board (a “SoftBank Nominee”) so
long as SoftBank Group beneficially holds at least five percent (5%) of the Company’s total equity. In the event that a SoftBank
Nominee shall cease to serve as a Director for any reason (including any removal thereof), SoftBank Group shall have the right to appoint
another SoftBank Nominee to fill any vacancy resulting therefrom. For the avoidance of doubt, it is understood that the failure of the
stockholders of the Company to elect any SoftBank Nominee shall not affect the right of SoftBank Group to nominate the SoftBank Nominee
for election pursuant to this Section 4.1 in connection with any future election of Directors.

 

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(b)            Subject
to subclause (c) below, each Majority Shareholder shall vote or cause to be voted all of such Majority Shareholder’s Equity
Securities in favor of each SoftBank Nominee nominated in accordance with this Section 4.1. Each Majority Shareholder agrees that,
if and for so long as SoftBank Group is entitled to nominate one or more SoftBank Nominees pursuant to this Section 4.1 and such
Majority Shareholder is then entitled to vote for the removal of any such SoftBank Nominee, such Majority Shareholder will not vote in
favor of the removal of any such SoftBank Nominee unless requested in writing by SoftBank Group.

 

(c)            SoftBank
Group shall agree to nominate an individual (x) that has not been convicted of or plead guilty to any criminal offense or entered
into any leniency agreement related thereto and (y) who is not a director of another Brazilian financial institution which directly
competes with the Company (together with subclause (x), the “Minimum SoftBank Nominee Criteria”). If, after
appointment of the SoftBank Nominee, the individual does not meet the Minimum SoftBank Nominee Criteria, such individual will be replaced
by another SoftBank Nominee, which shall be appointed by SoftBank Group in its sole discretion provided that it meets the Minimum SoftBank
Nominee Criteria.

 

4.2           Regulatory
Restrictions.

 

(a)            SoftBank
Group agrees that it will comply in all material respects and will cause the SoftBank Nominee to comply with all laws and regulation
applicable to directors of public companies in the United States and companies listed on NASDAQ, including those related to confidentiality,
black-out periods and engaging in market transactions relating to the Equity Securities or other financial instruments of the Company
in violation of applicable United States securities laws.

 

4.3           Cooperation
with Respect to Loans. Upon the request of SoftBank Group in connection with a pledge, hypothecation or grant of security interests
in any or all of the Equity Securities held by it, including to banks or financial institutions as collateral or security for loans,
advances or extensions of credit, the Company agrees to cooperate with SoftBank Group or any of its Affiliates in taking any action reasonably
necessary to consummate any such pledge, hypothecation or grant, including without limitation, delivery of letter agreements to lenders
in form and substance reasonably satisfactory to such lenders (which may include agreements by the Company in respect of the exercise
of remedies by such lenders) and instructing the transfer agent to transfer any such Equity Securities subject to the pledge, hypothecation
or grant into the facilities of The Depository Trust Company without restricted legends; provided, that SoftBank Group will reimburse
any reasonable and documented expenses of the Company in connection with the actions described in this Section 4.3 up to an amount
of US$20,000.

 

5.            Miscellaneous.

 

5.1           Assignments;
Successors and Assigns.

 

(a)            Neither
Party shall assign any of its rights or obligations hereunder without the prior written consent of the other Party; provided,
however, that any Holder may assign its rights and obligations hereunder, in whole or in part, without such consent to one or
more of its Affiliates.

 

(b)            Except
as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

5.2           Governing
Law. This Agreement shall be governed by and construed under the laws of the State of New York as applied to agreements among New
York residents entered into and to be performed entirely within New York.

 

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5.3           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

5.4           Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing
or interpreting this Agreement.

 

5.5           Notices.
All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be deemed duly given or made:
(i) when personally delivered to the intended recipient; (ii) when sent, if sent by facsimile during the recipient’s
normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) when
sent, if by electronic mail, during normal business hours, and if not during normal business hours, then on the recipient’s next
business day; or (iv) two (2) days after deposit with an internationally recognized overnight courier, specifying next
day delivery, with written verification of receipt. All notices and communications shall be sent to the respective Parties at the addresses
set forth on the signature pages attached hereto.

 

5.6           Entire
Agreement. This Agreement and the documents referred to herein and therein constitute the entire agreement and understanding of the
Parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or
written, between or among the Parties hereto with respect to the specific subject matter hereof.

 

5.7           Severability.
If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable
in any respect, such provision will be enforced to the maximum extent possible given the intent of the Parties hereto. If such clause
or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be
enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in
this Agreement.

 

5.8           Amendments
and Waivers. This Agreement may be amended only by a written agreement executed by each of the Parties hereto. No amendment of or
waiver of, or modification of any obligation under this Agreement will be enforceable unless set forth in a writing signed by the Party
against which enforcement is sought. Any amendment effected in accordance with this Section 4.8 will be binding upon all Parties
hereto and each of their respective successors and assigns. No delay or failure to require performance of any provision of this Agreement
shall constitute a waiver of that provision as to that or any other instance. No waiver granted under this Agreement as to any one provision
herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall it constitute the waiver of
any performance other than the actual performance specifically waived.

 

5.9           Further
Assurances. At any time or from time to time after the date hereof, the Parties agree to cooperate with each other, and at the request
of any other Party, to execute and deliver any further instruments or documents and to take all such further action as the other Party
may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated by this Agreement and to
otherwise carry out the intent of the Parties under this Agreement. The Majority Shareholders shall take all actions necessary and execute
and deliver any further instruments or documents necessary to cause the Company to comply with the terms of this Agreement and effectuate
the consummation of the transactions contemplated by this Agreement.

 

5.10         Third
Party Rights. Other than the rights stated to be for the benefit of members of the Board, which shall be enforceable by such persons
notwithstanding that they are not party to this Agreement, nothing in this Agreement shall confer any rights upon any other person other
than the parties hereto and their respective heirs, successors and permitted. The consent of any person not a party to this Agreement
shall not be required in respect of any amendment, variation or supplement made to this Agreement.

 

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5.11         Aggregation
of Equity Securities. All shares of Registrable Securities held or acquired by Affiliates (including affiliated venture capital funds)
of SoftBank shall be aggregated together for the purpose of determining the availability or the exercise of any rights under this Agreement.

 

5.12         Investor
Agreement. SoftBank Group, the Majority Shareholders and BI agree that the Investor Agreement shall terminate on the date hereof
with no further force or effect and with no liability with any party thereto.

 

5.13         Dispute
Resolution. The Parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York
and to the jurisdiction of the United States District Court for the Southern District of New York for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding
arising out of or based upon this Agreement except in the state courts of New York or the United States District Court for the Southern
District of New York, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit,
action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue
of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

 

5.14         WAIVER
OF JURY TRIAL.

 

WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES
ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE SECURITIES OR THE SUBJECT
MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT
AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING
NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH
OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS
THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

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