Document:

EX-4.4

 Exhibit 4.4 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”) is dated as of March 31, 2022 (the “Effective
Date”), by and among Renalytix plc, a public limited company incorporated under the laws of England and Wales (the “Company”), and each purchaser identified on the signature pages hereto (each a
“Purchaser” and collectively the “Purchasers”). 
 WHEREAS, the Company and the Purchasers
are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) or Regulation S of the Securities Act of 1933, as amended (the “Securities Act”). 

WHEREAS, each Purchaser wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, ordinary
shares, nominal value £0.0025 per share (the “Ordinary Shares”) and/or American Depositary Shares, each representing two Ordinary Shares (the “ADSs”), in the numbers set forth opposite such
Purchaser’s name on Exhibit A hereto. The Ordinary Shares and ADSs purchased pursuant to this Agreement are together referred to as the “Securities.” 

WHEREAS, in connection with the offering and sale of the Securities, Stifel Nicolaus Europe Limited are acting as placement agent
(“Placement Agent”). 
 References in this Agreement to (1) the Company issuing and selling ADSs to the
Purchasers, and similar or analogous expressions, shall be understood to include references to the Company allotting and issuing the new Ordinary Shares underlying those ADSs to Citibank, N.A., as depositary (the
“Depositary”) or its nominee and procuring the issue of ADSs representing such Ordinary Shares by the Depositary or its nominee to the Purchasers; and (2) the purchase of, or payment for, any ADSs, and similar or
analogous expressions, shall be understood to refer to the subscription for the Ordinary Shares underlying those ADSs, as well as deposit of the Ordinary Shares for ADSs representing such Ordinary Shares, and the payment of the subscription moneys
in respect of such Ordinary Shares. 
 NOW, THEREFORE, in consideration of the mutual covenants
contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser, severally and not jointly, agree as follows: 

 

	1.	 DEFINITIONS 

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in
this Section 1.1: 
 “AIM” means AIM, a market operated by London Stock Exchange. 

“AIM Rules for Companies” means the AIM Rules for Companies published by the London Stock Exchange, as in force from
time to time. 
 “Closing” means the closing of the purchase and sale of the Securities on the Closing Date pursuant
to Section 2.1 of this Agreement. 

  
 1. 

 “Closing Date” means April 6, 2022. 

“Commission” means the United States Securities and Exchange Commission. 

“Companies Act” means the Companies Act 2006 in force in England and Wales as may be amended or updated from
time to time. 
 “DTRs” means the Disclosure Guidance and Transparency Rules of the FCA. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “FCA” means the UK Financial Conduct Authority. 

“FSMA” means the UK Financial Services and Markets Act 2000. 

“GAAP” means U.S. generally accepted accounting principles consistently applied. 

“London Stock Exchange” means London Stock Exchange plc. 

“MAR” means the Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law in the United Kingdom
by virtue of the European Union (Withdrawal) Act 2018 
 “Material Adverse Effect” means a circumstance that
(i) would reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) would reasonably be expected to have a material adverse
effect on the condition (financial or otherwise), results of operations, business, prospects, management, shareholders’ equity or properties of the Company and its subsidiaries taken as a whole. 

“Nasdaq” means The Nasdaq Global Market. 

“Prospectus Regulation” means Regulation (EU) 2017/1129. 

“Purchase Price” means $7.25 per ADS and $3.625 per Ordinary Share. 

“Registration Statement” means a registration statement or registration statements of the Company filed under the
Securities Act pursuant to Section 4 hereof. 
 “Rule 144” means Rule 144 promulgated by
the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“SEC Reports” means collectively all reports, schedules, forms, statements and other documents required to be filed by
the Company under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, since July 21, 2020 (including the exhibits thereto and documents incorporated by reference therein). 

  
 2. 

 “Short Sales” means all “short sales” as defined in Rule
200 of Regulation SHO of the Exchange Act, but shall be deemed to not include the location and/or reservation of borrowable Ordinary Shares or ADSs. 

“Trading Day” means a day on which the Ordinary Shares are traded on AIM or the ADSs are traded on Nasdaq. 

“Transaction Documents” means this Agreement and any other documents or agreements executed and delivered to the
Purchasers in connection with the transactions contemplated hereunder. 
 “UK Prospectus Regulation” means the
Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018. 

“UK Published Information” means all announcements released by the Company via a regulatory information service and
all documents uploaded to the website of the Company maintained for the purposes of Rule 26 of the AIM Rules for Companies. 
  

	2.	 PURCHASE AND SALE 

2.1 Closing. 

(a) At the Closing, upon the terms set forth herein, the Company hereby agrees to issue and sell to each Purchaser, and each Purchaser
agrees to purchase from the Company, severally and not jointly, the number of Securities set forth opposite such Purchaser’s name on Exhibit A hereto, at the Purchase Price per share. 

(b) At the Closing, each Purchaser shall deliver to the Company via wire transfer immediately available funds equal to the purchase
price set forth opposite such Purchaser’s name on Exhibit A hereto and the Company shall deliver to each Purchaser its respective Securities in the amounts set forth opposite such Purchaser’s name on Exhibit A hereto,
deliverable at the Closing on the Closing Date, in accordance with Section 2.2 of this Agreement. The Closing shall occur at 10:00 a.m. (New York City time) on the Closing Date or such other time and location as the parties
shall mutually agree. 
 2.2 Deliveries; Closing Conditions. 

(a) At the Closing, the Company will deliver or cause to be delivered to each Purchaser certificate(s) or book-entry shares (including
through CREST) representing the Ordinary Shares and/or ADSs, as applicable, registered in such Purchaser’s name or the name of its nominee as the Purchaser shall direct. Such delivery shall be against payment of the purchase price therefor by
such Purchaser by wire transfer of immediately available funds to the Company in accordance with the Company’s written wiring instructions. 

  
 3. 

 (b) The respective obligations of the Company, on the one hand, and each Purchaser,
on the other hand, hereunder in connection with the Closing are subject to the following conditions being met: 
 (i) the accuracy in
all material respects on the Closing Date of the representations and warranties contained herein (unless made as of a specified date therein) of the Company (with respect to the obligations of the Purchasers) and the Purchasers (with respect to the
obligations of the Company); and 
 (ii) all obligations, covenants and agreements of the Company (with respect to the obligations of
the Purchasers) and the Purchasers (with respect to the obligations of the Company) required to be performed at or prior to the Closing Date shall have been performed in all material respects. 

(iii) No Material Adverse Effect has occurred. 
  

	3.	 REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. Assuming the accuracy of the representations and warranties of the Purchasers
set forth in Section 3.2 of this Agreement and except as set forth in the SEC Reports and/or the UK Published Information, which disclosures serve to qualify these representations and warranties in their entirety, the
Company represents and warrants to the Purchasers and the Placement Agent that the statements contained in this Section 3.1 are true and correct as of the date hereof: 

(a) Status under the Securities Act. The Company was not and is not an “ineligible issuer,” as defined in Rule 405
under the Securities Act, without taking account of any determination by the Commission pursuant to Rule 405 that it is not necessary that the Company be considered an ineligible issuer. 

(b) Emerging Growth Company. The Company is an “emerging growth company,” as defined in Section 2(a) of the
Securities Act. 
 (c) Incorporation and Good Standing. The Company and each of its subsidiaries have been duly incorporated
and are validly existing under the laws of their respective jurisdictions of incorporation. The Company and its subsidiaries are duly qualified to do business and are in good standing (or their jurisdictional equivalent) in each jurisdiction in
which their respective ownership or lease of property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties and to conduct the businesses in
which they are engaged, except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a Material Adverse Effect. 

(d) Capitalization. As of the date hereof, there are 72,308,930 Ordinary Shares issued and outstanding, of which no shares are
owned by the Company. There are no other shares of any other class or series of share capital of the Company issued or outstanding. All the issued and outstanding shares of the Company have been duly and validly authorized and issued and are fully
paid and are not subject to any call for the payment of further capital and were issued free of any liens, encumbrances, rights of first refusal, pre-emptive or other similar rights, save for any rights of pre-emption under the Companies Act that were duly waived or disapplied, and have been issued in compliance with the Company’s articles of association and applicable law; except the Company’s equity
incentive plans and as otherwise described in or expressly contemplated by the 

  
 4. 

 
SEC Reports and/or the UK Published Information, there are no outstanding rights granted by the Company (including, without limitation, pre-emptive rights
(save for those granted under applicable law)), warrants or options to acquire, or instruments convertible into or exchangeable for, any shares or other equity interest in the Company or its subsidiaries, or any contract, commitment, agreement,
understanding or arrangement of any kind relating to the issuance of any shares of the Company or any of its subsidiaries, any such convertible or exchangeable securities or any such rights, warrants or options; the share capital of the Company
conforms in all material respects to the description thereof contained in the SEC Reports. 
 (e) Subsidiaries. The Company has
no subsidiaries (as defined under the Securities Act) other than Renalytix AI, Inc. and Renalytix AI Limited (each, a “Subsidiary” and together, the “Subsidiaries”); the Company owns all of the issued
and outstanding capital stock and ownership interests of the Subsidiaries; other than the capital stock and ownership interests of the Subsidiaries, the Company does not own, directly or indirectly, any shares of stock or any other equity interests
or long-term debt securities of any corporation, firm, partnership, joint venture, association or other entity. All the outstanding capital stock or other equity interests of the Company’s subsidiaries owned, directly or indirectly, by the
Company have been duly and validly authorized and issued, are fully paid and non-assessable, right of first refusal or similar right and are owned directly or indirectly by the Company, free and clear of any
lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party. 
 (f)
Organizational Documents. Complete and correct copies of the articles of association, certificate of incorporation, bylaws, operating agreements and other applicable organizational documents of the Company and its subsidiaries and all
amendments thereto have been made available to you, and no changes therein will be made on or after the date hereof through and including the Closing Date. 

(g) Shares. 

(i) The Ordinary Shares have been duly and validly authorized (including pursuant to section 551 of the Companies Act) and, when
allotted and issued and delivered against payment therefor pursuant to this Agreement, will be validly allotted and issued, fully paid and not subject to any call for the payment of further capital and will be free of any liens, encumbrances,
preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase the Ordinary Shares, save for any rights of pre-emption under the Companies Act that have been duly
waived or disapplied, and the Ordinary Shares represented by ADSs will rank equally in all respects with the existing Ordinary Shares. 

(ii) The ADSs have been duly authorized for issuance and sale pursuant to this Agreement (including, in respect of Ordinary Shares
represented by the ADSs, pursuant to section 551 of the Companies Act) and, when issued and delivered by the Company against payment therefor pursuant to this Agreement, will be validly issued, fully paid and nonassessable, and the issuance and sale
of the ADSs is not subject to any liens, encumbrances, preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase such Shares (including those provided by section 561(1) of the Companies Act in respect of
the Ordinary Shares represented by ADSs), save for any rights of pre-emption under the Companies Act that have been duly waived or disapplied.

  
 5. 

 (h) Due Authorization. The Company has full right power and authority to
execute and deliver the Transaction Documents and to perform its obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of the Transaction Documents and the
consummation by it of the transactions contemplated hereby and thereby has been duly and validly taken. 
 (i) Securities Purchase
Agreement. This Agreement has been duly authorized, executed and delivered by the Company. 
 (j) No Violation or Default.
Neither the Company nor any of its subsidiaries is (i) in violation of its articles of association, by-laws or any other organizational documents, as the case may be, of the Company or its subsidiaries;
(ii) in violation of the AIM Rules for Companies (including, where applicable, any guidance notes published by the London Stock Exchange from time to time that apply to the Company); (iii) in default, and no event has occurred that, with notice
or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the
Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any property or asset of the Company or any of its subsidiaries is subject; or (iv) in violation of any law or statute or any
judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (iii) and (iv) above, for any such default or violation that would not, individually or in the aggregate,
have a Material Adverse Effect. 
 (k) Investment Company Act. The Company is not and, after giving effect to the offering and
sale of the Securities and the application of the proceeds thereof as described in Section 5.4 of this Agreement, will not be, required to register as an “investment company” or an entity “controlled” by
an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Investment Company Act”). 

(l) No Conflicts. The execution, delivery and performance by the Company of the Transaction Documents, the issuance and sale of
the Securities and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the
termination, modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property, right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust,
loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any property, right or asset of the Company or any of its subsidiaries
is subject, (ii) result in any violation of the provisions of the articles of association, by-laws or any other organizational documents, as the case may be, of the Company or its subsidiaries or
(iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict,
breach, violation, default, lien, charge or encumbrance that would not, individually or in the aggregate, have a Material Adverse Effect. 

  
 6. 

 (m) Consents. No consent, approval, authorization, order, registration or
qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of the Transaction Documents, the issuance and sale of the Securities and the
consummation of the transactions contemplated by the Transaction Documents, other than (i) any necessary qualification under the securities or blue sky laws of the various jurisdictions in which the Securities are being offered, (ii) any
listing applications and related consents or any notices required by Nasdaq or in the ordinary course of the offering of the Securities, (iii) admission of all of the Ordinary Shares to trading on AIM, (iv) filings made to the Registrar of
Companies in the UK with respect to the allotment and issue of the Ordinary Shares and (v) filings with the Commission in connection with the offering and sale of the Securities pursuant to this Agreement. 

(n) No Registration Rights. No person has the right, contractual or otherwise, to cause the Company to register under the
Securities Act any shares of capital stock of or other equity interests in the Company, or to include any such shares or interests in the Resale Registration Statement or the offering contemplated by this Agreement, except any such right that has
been validly waived in writing as of the date of this Agreement. 
 (o) Licenses and Permits. The Company and its subsidiaries
possess all licenses, sub-licenses, certificates, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate and applicable federal, state, local or foreign
governmental or regulatory authorities that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses as described in the SEC Reports, except where the failure to possess or make the same
would not, individually or in the aggregate, have a Material Adverse Effect; and, neither the Company nor any of its subsidiaries has received notice of any revocation or modification of any such license,
sub-license, certificate, permit or authorization or has any reason to believe that any such license, sub-license, certificate, permit or authorization will not be
renewed in the ordinary course. 
 (p) SEC Reports. Since July 21, 2020, the Company has filed all SEC Reports on a timely
basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the Exchange Act and, in each case, to the rules promulgated thereunder, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(q) Financial Statements. The financial statements (including the related notes thereto) of the Company and its consolidated
subsidiaries included or incorporated by reference in the SEC Reports comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly the financial position of the
Company and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the periods specified; such financial statements have been prepared in conformity with GAAP in the United
States applied on a consistent basis throughout the periods covered thereby, except in the case of unaudited financial statements, which are subject to normal year-end adjustments and do not contain certain
footnotes as permitted by the applicable rules of 

  
 7. 

 
the Commission; and any supporting schedules included or incorporated by reference in the SEC Reports present fairly in all material respects the information required to be stated therein and the
other financial information included or incorporated by reference in the SEC Reports has been derived from the accounting records of the Company and its consolidated subsidiaries and presents fairly in all material respects the information shown
thereby. 
 (r) Legal Proceedings. There are no legal, governmental or regulatory investigations, actions, demands, claims,
suits, arbitrations, inquiries or proceedings, including without limitation, any proceedings, inquiries or investigation by the London Stock Exchange (“Actions”) pending to which the Company or any of its subsidiaries is or
may be a party or to which any property of the Company or any of its subsidiaries is or may be the subject that, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries, could reasonably be expected to
have a Material Adverse Effect; no such Actions are threatened or, to the knowledge of the Company, contemplated by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending Actions that are
required under the Securities Act to be described in the SEC Reports that are not so described in the SEC Reports and (ii) there are no statutes, regulations or contracts or other documents that are required under the Securities Act to be filed
as exhibits to the SEC Reports that are not so filed as exhibits to the SEC Reports or described in the SEC Reports. 
 (s)
Independent Accountants. Ernst & Young LLP, who have certified certain financial statements of the Company and its subsidiaries, is an independent registered public accounting firm with respect to the Company and its subsidiaries
within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Securities Act. 

(t) No Material Adverse Change. Since December 31, 2021, (i) there has not been any material change in the Company’s
issued share capital (other than the issuance of Ordinary Shares upon exercise of share options described as outstanding in, and the grant of options and awards under existing equity incentive plans), short-term debt or long-term debt of the Company
or its subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of share capital, or any material adverse change, or any development that would reasonably be expected to
result in a material adverse change, in or affecting the business, properties, management, financial position, shareholders’ equity, results of operations or prospects of the Company and its subsidiaries taken as a whole; (ii) neither the
Company nor any of its subsidiaries have entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation,
direct or contingent (including any off-balance sheet obligations), that is material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its subsidiaries have
sustained any loss or interference with its business that is material to the Company and its subsidiaries taken as a whole and that is either from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor
disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority. 

  
 8. 

 (u) Title to Real and Personal Property. The Company and its subsidiaries have
good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items of real and personal property that are material to the respective businesses of the Company and its subsidiaries, in each case free and clear of
all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries or (ii) could not
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
 (v) Intellectual Property.
(i) The Company and its subsidiaries own or have the valid, binding, and enforceable license(s) or other such right(s) to use all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark
registrations, domain names and other source indicators, copyrights and copyrightable works, know-how, trade secrets, systems, procedures, proprietary or confidential information and all other worldwide
intellectual property, industrial property and proprietary rights (collectively, “Intellectual Property”) used in the conduct or in the proposed conduct of their respective businesses; (ii) the Intellectual Property owned by or
licensed to the Company and its subsidiaries are free and clear of all material liens and encumbrances; (iii) to the knowledge of the Company, the patents, trademarks, and copyrights owned by or licensed to the Company or its subsidiaries are
valid, enforceable and subsisting; (iv) the Company and its subsidiaries have complied in all material respects with the terms of each agreement pursuant to which intellectual property has been licensed to the Company or its subsidiaries, and
all such agreements that have not expired or have not been intentionally terminated by the Company or any subsidiaries are in full force and effect; (v) the Company’s and its subsidiaries’ conduct of their respective businesses does
not infringe, misappropriate or otherwise violate any rights to Intellectual Property of any person or entity; (vi) the Company and its subsidiaries have not received any written notice of any claim relating to the Intellectual Property owned
by or licensed to the Company and its subsidiaries, challenging the validity, enforceability, scope, registration, ownership, or use of such Intellectual Property, and no such action, suit, claim, or other proceeding challenging is pending;
(vii) no action, suit, claim, or other proceeding is pending alleging that the Company or its subsidiaries are infringing, misappropriating, diluting, or otherwise violating any rights to Intellectual Property of another person or entity with
respect to any of the Company’s or any of its subsidiaries’ products, product candidates, processes, or Intellectual Property, and the Company and its subsidiaries have not received any written notice of such allegation(s); (viii) to the
knowledge of the Company, the Intellectual Property of the Company and its subsidiaries is not being infringed, misappropriated or otherwise violated by any person or entity; and (ix) the Company and its subsidiaries have taken reasonable
measures to protect their confidential information and trade secrets and to maintain and safeguard the confidentiality of the confidential information and trade secrets within the Company Intellectual Property, including the execution of appropriate
nondisclosure and confidentiality agreements. 
 (w) No Labor Disputes. (A) There is no unfair labor practice complaint
pending against the Company, nor, to the Company’s knowledge, threatened against it, before any U.S. or non-U.S. governmental authorities of competent jurisdiction, and no significant grievance or
significant arbitration proceeding arising out of or under any collective bargaining agreement is so pending against the Company, or, to the Company’s knowledge, threatened against it and (B) no labor disturbance by or dispute with
employees of the Company or any of its subsidiaries exists or, to the knowledge of the Company, is contemplated or threatened, and the Company is not aware of any existing or imminent labor disturbance by, or dispute with, the employees of any of
its or its subsidiaries’ principal suppliers, contractors or customers, except as would not have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received any notice of cancellation or termination with respect to
any collective bargaining agreement to which it is a party. The Company is not aware that any key employee or significant group of employees of the Company or its subsidiaries plans to terminate employment with the Company. 

  
 9. 

 (x) Certain Environmental Matters. (i) The Company and its subsidiaries
(x) are in compliance with all, and have not violated any, applicable federal, state, local and foreign laws (including common law), rules, regulations, requirements, decisions, judgments, decrees, orders and other legally enforceable
requirements relating to pollution or the protection of human health or safety, the environment, natural resources, hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (y) have received
and are in compliance with all, and have not violated any, permits, licenses, certificates or other authorizations or approvals required of them under any Environmental Laws to conduct their respective businesses; and (z) have not received
notice of any actual or potential liability or obligation under or relating to, or any actual or potential violation of, any Environmental Laws, including for the investigation or remediation of any disposal or release of hazardous or toxic
substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition that would reasonably be expected to result in any such notice; (ii) there are no costs or liabilities associated with Environmental Laws of or
relating to the Company or its subsidiaries, except in the case of each of (i) and (ii) above, for any such matter as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (iii) (x)
there is no proceeding that is pending or, to the Company’s knowledge, contemplated, against the Company or any of its subsidiaries under any Environmental Laws in which a governmental entity is also a party, other than such proceeding
regarding which it is reasonably believed no monetary sanctions of $100,000 or more will be imposed, (y) the Company and its subsidiaries are not aware of any facts or issues regarding compliance with Environmental Laws, or liabilities or other
obligations under Environmental Laws or concerning hazardous or toxic substances or wastes, pollutants or contaminants, that would reasonably be expected to have a material effect on the capital expenditures, earnings or competitive position of the
Company and its subsidiaries, and (z) none of the Company or its subsidiaries anticipates material capital expenditures relating to any Environmental Laws. 

(y) Taxes. The Company and its subsidiaries (i) have paid all U.S. federal, state, local and
non-U.S. taxes and have filed all tax returns required to be paid or filed through the date hereof; and (ii) do not have any tax deficiency that has been, or could reasonably be expected to be, determined
adversely to the Company or its subsidiaries, except as in each of the cases described in clauses (i) and (ii) above (A) are being contested in good faith and for which reserves in accordance with GAAP have been made or (B) would not,
singly or in the aggregate, result in a Material Adverse Effect. 
 (z) Insurance. The Company and its subsidiaries have
insurance covering their respective properties, operations, personnel and businesses, including business interruption insurance, which insurance is in amounts and insures against such losses and risks as are generally maintained by similarly
situated companies and which the Company believes are reasonably adequate to protect the Company and its subsidiaries and their respective businesses; and neither the Company nor any of its subsidiaries has (i) received notice from any insurer
or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as
and when such coverage expires or to obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its business. 

  
 10. 

 (aa) No Lending Relationship. The Company (i) does not have any material
lending or other relationship with any bank or lending affiliate of the Placement Agent and (ii) does not intend to use any of the proceeds from the sale of the Securities hereunder to repay any outstanding debt owed to any affiliate of the
Placement Agent. 
 (bb) No Contract Terminations. Neither the Company nor any of its subsidiaries has sent or received any
communication regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described in the SEC Reports, and no such termination or non-renewal has been threatened by the
Company or any of its subsidiaries or, to the Company’s knowledge, threatened in writing by any other party to any such contract or agreement, which threat of termination or non-renewal has not been
rescinded as of the date hereof. 
 (cc) Accounting Controls. The Company and its subsidiaries maintain systems of
“internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that are designed to comply with the applicable requirements of the Exchange Act and have been designed
by, or under the supervision of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with GAAP, including internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific
authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with
management’s general or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and
(v) interactive data in eXtensible Business Reporting Language included or incorporated by reference in the SEC Reports fairly presents the information called for in all material respects and is prepared in accordance with the Commission’s
rules and guidelines applicable thereto. The Company’s auditors and the Audit Committee of the Board of Directors of the Company have been advised of: (i) all significant deficiencies and material weaknesses in the design or operation of
internal controls over financial reporting known to the Company’s management which have adversely affected or are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information;
and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls over financial reporting. 

(dd) Disclosure Controls. The Company and its subsidiaries maintain an effective system of “disclosure controls and
procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that (i) complies with the applicable requirements of the Exchange Act, (ii) enables the Company to comply with the AIM Rules for
Companies and (iii) that has been designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods
specified in the Commission’s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding
required disclosure. The Company and its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act. 

  
 11. 

 (ee) Forward-Looking Statements. No forward-looking statement (within the
meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained or incorporated by reference in any of the SEC Reports has been made or reaffirmed without a reasonable basis or has been disclosed other than in
good faith. 
 (ff) Statistical and Market Data. Nothing has come to the attention of the Company that has caused the Company
to believe that the statistical and market-related data included in the SEC Reports is not based on or derived from sources that are reliable and accurate in all material respects. 

(gg) No Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries or, to the
knowledge of the Company, its affiliates has taken, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of Securities or of any “reference
security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the Securities, whether to facilitate the sale or resale of the Securities or otherwise, and has taken no action
which would directly or indirectly violate Regulation M or MAR, or any associated rules or regulations. 
 (hh) No Unlawful
Payments. Neither the Company nor any of its subsidiaries nor any director, officer or employee of the Company or any of its subsidiaries nor, to the knowledge of the Company, any agent, affiliate or other person associated with or acting on
behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance of an
offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or of a public international organization, or
any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices
Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United
Kingdom or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff,
influence payment, kickback or other unlawful or improper payment or benefit. The Company and its subsidiaries have instituted, maintain and enforce, and will continue to maintain and enforce policies and procedures designed to promote and ensure
compliance with all applicable anti-bribery and anti-corruption laws. 

  
 12. 

 (ii) Compliance with Anti-Money Laundering Laws. The operations of the Company
and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the
applicable money laundering statutes of all jurisdictions where the Company or any of its subsidiaries conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines applicable to such entities
issued, administered or enforced by any governmental agency, including without limitation, the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Terrorism Act 2006 and the Money Laundering, Terrorist Financing and Transfer of Funds
(Information on the Payer) Regulations 2017 (in each case as amended) (collectively, the “Anti-Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator
involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

(jj) No Conflicts with Sanctions Laws. Neither the Company nor any of its subsidiaries, directors, officers, or employees, nor,
to the knowledge of the Company, any agent, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S.
government, (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including, without limitation, the designation as a “specially designated national”
or “blocked person”), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority (collectively, “Sanctions”), nor is the Company or any of its subsidiaries located,
organized or resident in a country or territory that is the subject or target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea and Syria (each, a “Sanctioned Country”); and the Company will not directly or
indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate any activities
of or business with any person that, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any other manner that
will result in a violation by any person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions. Since the Company’s incorporation, the Company and its subsidiaries have not
knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country. 

(kk) No Restrictions on Subsidiaries. No subsidiary of the Company is currently prohibited, directly or indirectly, under any
agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s share capital or similar ownership interest, from repaying to the Company any
loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company. 

(ll) Clinical Trials, Preclinical Studies and Tests and Regulatory Compliance. The clinical trials, preclinical studies and tests
(collectively, “Studies”) that are described in, or the results of which are referred to in, the SEC Reports were and, if still pending, are being conducted in all material respects in accordance with the protocols, procedures and controls
designed and approved for such Studies and with standard medical and scientific research procedures and all applicable laws, including, without limitation, the Federal Food, Drug, and Cosmetic Act and its implementing regulations at 21 C.F.R. Parts
50, 54, 56, 58, and 812; each description of the results of such Studies is accurate and complete in all material respects and fairly presents the data derived 

  
 13. 

 
from such Studies, and the Company has no knowledge of any other Studies the results of which call into question, the results described or referred to in the SEC Reports; the Company and its
subsidiaries have made all such filings and obtained all such approvals as may be required by the Food and Drug Administration of the U.S. Department of Health and Human Services or any committee thereof or from any other U.S. or foreign government
or drug or medical device regulatory agency, or health care facility Institutional Review Board (collectively, the “Regulatory Agencies”) to conduct such Studies; and the Company and its subsidiaries have not received any notice of, or
correspondence from, any Regulatory Agency requiring the termination, suspension or modification of any Studies that are described or referred to in the SEC Reports and there are no reasonable grounds for the same. 

(mm) Compliance with Healthcare Laws. The Company: (i) has operated and currently operates its business in compliance with
applicable provisions of the health care laws, including Title XVIII of the Social Security Act, 42 U.S.C. §§ 1395 et seq. (the Medicare statute); Title XIX of the Social Security Act, 42 U.S.C. §§ 1396 et seq (the Medicaid
statute); the Anti-Kickback Statute, 42 U.S.C. § 1320a-7b(b); the civil False Claims Act, 31 U.S.C. §§ 3729 et seq.; the criminal False Claims Act 42 U.S.C. §
1320a-7b(a); the criminal laws relating to health care fraud and abuse, including 18 U.S.C. Sections 286 and 287 and the health care fraud criminal provisions under HIPAA; the Civil Monetary Penalties Law, 42
U.S.C. §§ 1320a-7a; the Physician Payments Sunshine Act, 42 U.S.C. § 1320a-7h; the exclusion law, 42 U.S.C. §
1320a-7; HIPAA, as amended by the Health Information Technology for Economic and Clinical Health Act, 42 U.S.C. §§ 17921 et seq.; the Federal Food, Drug, and Cosmetic Act, 21 U.S.C. §§ 301
et seq.; the Public Health Service Act, 42 U.S.C. §§201 et seq.; Clinical Laboratory Improvement Amendments of 1988, 42 U.S.C. § 263a et seq.; the regulations promulgated pursuant to such laws; and any similar federal, state and local
laws and regulations of any governmental authority including the Regulatory Agencies applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, storage, import, export or disposal of any of the
Company’s or its subsidiaries’ products or services, (collectively the “Health Care Laws”) except as would not, singly or in the aggregate, result in a Material Adverse Effect; (ii) has not received any Form FDA-483, written notice of adverse finding, warning letter, untitled letter or other written correspondence or notice from any court or arbitrator or governmental or regulatory authority alleging or asserting
material non-compliance with (A) any Health Care Laws or (B) or any licenses, approvals, clearances, exemptions, permits, registrations, authorizations, and supplements or amendments thereto required
by any such Health Care Laws (“Regulatory Authorizations”); (iii) possesses all material Regulatory Authorizations required to conduct the business as currently conducted and such Regulatory Authorizations are valid and in full force and
effect and the Company is not in violation in any material respect of any term of any such Regulatory Authorizations; (iv) has not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other
action (“Proceeding”) from any governmental authority including any Regulatory Agency or any other third party alleging a material violation of any Health Care Laws or Regulatory Authorizations or limiting, suspending, modifying, or
revoking any material Regulatory Authorizations, and has no knowledge that any governmental authority including any Regulatory Agencies or any other third party is considering any Proceeding; (v) has filed, obtained, maintained or submitted all
material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Health Care Laws or Regulatory Authorizations (“Reports”) and that all such Reports were materially
complete and correct on the date filed (or were materially corrected or supplemented by a subsequent submission); (vii) is not 

  
 14. 

 
a party to or has no ongoing reporting obligations pursuant to any corporate integrity agreements, deferred prosecution agreements, monitoring agreements, consent decrees, settlement orders,
plans of correction or similar agreements with or imposed by any governmental authority including any Regulatory Agencies; and (viii) along with its employees, officers and directors, has not been excluded, suspended or debarred from, or
otherwise ineligible for participation in any government health care program or human clinical research. 
 (nn) Compliance with
ERISA. (i) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), for which the Company or any member of its “Controlled Group”
(defined as any entity, whether or not incorporated, that is under common control with the Company within the meaning of Section 4001(a)(14) of ERISA or any entity that would be regarded as a single employer with the Company under
Section 414(b),(c),(m) or (o) of the Internal Revenue Code of 1986, as amended (the “Code”)), would have any liability (each, a “Plan”) has been maintained in compliance in all material respects with its terms and the
requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has
occurred with respect to any Plan, excluding transactions effected pursuant to a statutory or administrative exemption; (iii) for each Plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no
Plan has failed (whether or not waived), or is reasonably expected to fail, to satisfy the minimum funding standards (within the meaning of Section 302 of ERISA or Section 412 of the Code) applicable to such Plan; (iv) no Plan is, or
is reasonably expected to be, in “at risk status” (within the meaning of Section 303(i) of ERISA) and no Plan that is a “multiemployer plan” within the meaning of Section 4001(a)(3) of ERISA is in “endangered
status” or “critical status” (within the meaning of Sections 304 and 305 of ERISA); (v) the fair market value of the assets of each Plan exceeds the present value of all benefits accrued under such Plan (determined based on those
assumptions used to fund such Plan); (vi) no “reportable event” (within the meaning of Section 4043(c) of ERISA and the regulations promulgated thereunder) has occurred or is reasonably expected to occur; (vii) each Plan that is
intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which would reasonably be expected to cause the loss of such qualification; (viii) neither the
Company nor any member of the Controlled Group has incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guarantee Corporation, in the ordinary
course and without default) in respect of a Plan (including a “multiemployer plan” within the meaning of Section 4001(a)(3) of ERISA); and (ix) none of the following events has occurred or is reasonably likely to occur:
(A) a material increase in the aggregate amount of contributions required to be made to all Plans by the Company or its Controlled Group affiliates in the current fiscal year of the Company and its Controlled Group affiliates compared to the
amount of such contributions made in the Company’s and its Controlled Group affiliates’ most recently completed fiscal year; or (B) a material increase in the Company and its subsidiaries’ “accumulated post-retirement
benefit obligations” (within the meaning of Accounting Standards Codification Topic 715-60) compared to the amount of such obligations in the Company and its subsidiaries’ most recently completed
fiscal year, except in each case with respect to the events or conditions set forth in (i) through (ix) hereof, as would not, individually or in the aggregate, have a Material Adverse Effect. 

  
 15. 

 (oo) Cybersecurity; Data Protection. The Company’s and its
subsidiaries’ information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all material
respects as required in connection with the operation of the business of the Company as currently conducted, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. The Company and its
subsidiaries have implemented and maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous
operation, redundancy and security of all IT Systems and data, including “Personal Data,” used in connection with their businesses. “Personal Data” means (i) a natural person’s name, street address, telephone number, e-mail address, photograph, social security number or tax identification number, driver’s license number, passport number, credit card number, bank information, or customer or account number; (ii) any
information which would qualify as “personally identifying information” under the Federal Trade Commission Act, as amended; (iii) “personal data” as defined by the European Union General Data Protection Regulation (EU 2016/679)
(“GDPR”); (iv) any information which would qualify as “protected health information” under the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical
Health Act (collectively, “HIPAA”); and (v) any other piece of information that allows the identification of such natural person, or his or her family, or permits the collection or analysis of any data related to an identified
person’s health or sexual orientation. To the Company’s knowledge, there have been no breaches, violations, outages or unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability or
the duty to notify any other person, nor any incidents under internal review or investigations relating to the same. The Company and its subsidiaries are and have been in material compliance with all applicable laws, directives or statutes and all
judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Personal Data (“Data Protection
Laws”) and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation or modification. The Company and its subsidiaries have taken all necessary actions to prepare to comply with the GDPR and all
other applicable laws and regulations with respect to Personal Data, and for which any non-compliance with same would be reasonably likely to create a material liability. 

(pp) Listing Approval. The Company has not received any notice from Nasdaq or the London Stock Exchange regarding the delisting
of securities. The Ordinary Shares outstanding as of the date hereof are admitted to trading on AIM under the symbol “RENX.” The ADSs outstanding as of the date hereof are listed and trade on Nasdaq under the symbol “RNLX.” The
Company is in material compliance with all listing and maintenance requirements of Nasdaq and the London Stock Exchange on the date hereof. 

(qq) No Registration. Assuming the accuracy of the Purchasers’ representations and warranties set forth in
Section 3.2 of this Agreement, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers hereunder. The issuance and sale of the Securities hereunder does
not contravene the rules and regulations of Nasdaq. 

  
 16. 

 (rr) Corporate Governance. The Company is in compliance with all admission
requirements and continuing obligations pursuant to the AIM Rules for Companies, MAR and the DTRs, as amended from time to time (as applicable to the Company). The directors of the Company have considered the compliance by the Company with the
principles of the 2018 Quoted Companies Alliance Governance Code and have established procedures to enable the Company to comply with the principles set out in such Governance Code. 

(ss) Sarbanes-Oxley Act. There is and has been no failure on the part of the Company or any of the Company’s directors or
officers, in their capacities as such, to comply with any applicable provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and Sections
302 and 906 related to certifications. 
 (tt) No Ratings. There are (and prior to the Closing Date, will be) no debt
securities, convertible securities or preferred shares issued or guaranteed by the Company or any of its subsidiaries that are rated by a “nationally recognized statistical rating organization”, as such term is defined in
Section 3(a)(62) under the Exchange Act. 
 (uu) Dividends. Except as disclosed in the SEC Reports, no approvals are
currently required in England and Wales in order for the Company to pay dividends or other distributions declared by the Company to the holders of the Securities. Under current laws and regulations of England and Wales and any political subdivision
thereof, any amount payable with respect to the Securities upon liquidation of the Company or upon redemption thereof and dividends and other distributions declared and payable on the share capital of the Company may be paid by the Company in United
States dollars or pound sterling and freely transferred out of the United Kingdom, and no such payments will be subject to withholding taxes under the current laws and regulations of the United Kingdom or any political subdivision or taxing
authority thereof or therein and each such payment may be made on such basis without the necessity of obtaining any governmental authorization in the United Kingdom or any political subdivision thereof or therein. 

(vv) No Rights to Purchase Preferred Shares. The issuance and sale of the Securities by the Company will not cause any holder of
any Ordinary Shares or ADSs, securities convertible into or exchangeable or exercisable for Ordinary Shares or ADSs or options, warrants or other rights to purchase Ordinary Shares or ADSs or any other securities of the Company to have any right to
acquire any shares of preferred shares of the Company. 
 (ww) No Immunity. Neither the Company nor any of its subsidiaries or
any of their respective properties, assets or revenues has immunity under English, U.S. federal or New York state law from any legal action, suit or proceeding, from the giving of any relief in any such legal action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any English, U.S. federal or New York state court, from service of process, attachment upon or prior to judgment, or attachment in aid of execution of judgment, or
from execution of a judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of a judgment, in any such court with respect to their respective obligations, liabilities or any other matter under or arising
out of or in connection herewith; and, to the extent that the Company or any of its subsidiaries or any of their respective properties, assets or revenues may have or may hereafter become entitled to any such right of immunity in any such court in
which proceedings arising out of, or relating to the transactions contemplated by the Transaction Documents, may at any time be commenced, the Company has waived, and it will waive, or will cause its subsidiaries to waive, such right to the extent
permitted by law. 

  
 17. 

 (xx) Enforcement of Foreign Judgments. Any final judgment for a fixed or
determined sum of money rendered by each U.S. federal court and New York state court located in the Borough of Manhattan, in The City of New York (each, a “New York Court”) having jurisdiction under its own domestic laws and recognized by
the courts of England and Wales as having jurisdiction to give such final judgment in respect of any suit, action or proceeding against the Company based upon this Agreement and any instruments or agreements entered into for the consummation of the
transactions contemplated herein and therein would be declared enforceable against the Company, without re-examination or review of the merits of the cause of action in respect of which the original judgment
was given or re-litigation of the matters adjudicated upon, by the courts of England and Wales; provided, however, that the Company may have defenses open to it and enforcement may not be permitted if,
among other things, (a) the judgment was obtained by fraud, or in proceedings contrary to natural or substantial justice, or contravenes public policy in England and Wales; (b) the judgment is for a sum payable in respect of taxes, or
other charges of a like nature or is in respect of a fine or other penalty or otherwise based on a foreign law that the courts of England and Wales considers to relate to a penal, revenue or other public law; (c) the judgment amounts to
judgment on a matter previously determined by the courts of England and Wales or conflicts with a judgment on the same matter given by a court other than a New York Court; (d) the judgment is given in proceedings brought in breach of an
agreement for the settlement of disputes; (e) the judgment has been arrived at by doubling, trebling or otherwise multiplying a sum assessed as compensation for the loss or damage sustained, or is a judgment that is otherwise specified in
section 5 of the Protection of Trading Interests Act 1980, or is a judgment based on measures designated by the Secretary of State under section 1 of that Act; and (f) enforcement proceedings are not commenced within six years of the date of
such judgment. The Company is not aware of any reason why the enforcement in England and Wales of such a New York Court judgment would be, as of the date hereof, contrary to public policy of England and Wales. 

(yy) Valid Choice of Law. The choice of laws of the State of New York as the governing law of the this Agreement is a valid
choice of law under the laws of England and Wales. The Company has the power to submit, and pursuant to Section 6.8 of this Agreement, has legally, validly, effectively and irrevocably submitted, to the personal
jurisdiction of any New York Court and has validly and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in such court. The Company has the power to designate, appoint and authorize, and pursuant to
Section 6.9 of this Agreement, has legally, validly, effectively and irrevocably designated, appointed and authorized an agent for service of process in any action arising out of or relating to this Agreement or the
Securities in any New York Court, and service of process effected on such authorized agent will be effective to confer valid personal jurisdiction over the Company as provided in Section 6.9 hereof. 

(zz) Indemnification and Contribution. The indemnification and contribution provisions set forth in
Section 4.4 hereof do not contravene English law or public policy. 

  
 18. 

 (aaa) Legality. The legality, validity, enforceability or admissibility into
evidence of this Agreement in any jurisdiction in which the Company is incorporated or does business is not dependent upon such document being submitted into, filed or recorded with any court or other authority in any such jurisdiction on or before
the date hereof or that any tax, imposition or charge be paid in any such jurisdiction on or in respect of any such document. 
 (bbb)
Foreign Issuer. The Company is a “foreign private issuer” as defined in Rule 405 under the Securities Act. 
 3.2
Representations, Warranties and Covenants of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents, warrants and covenants to the Company and the Placement Agent as of the Closing: 

(a) Such Purchaser is a duly incorporated or organized and validly existing corporation, limited partnership, limited liability company
or other legal entity, has all requisite corporate, partnership or limited liability company power and authority to enter into and consummate the transactions contemplated by the Transaction Documents and to carry out its obligations hereunder and
thereunder, and to invest in the Securities pursuant to this Agreement, and is in good standing under the laws of the jurisdiction of its incorporation or organization. 

(b) Such Purchaser has all requisite legal and corporate or other power and capacity and has taken all requisite corporate or other
action to execute and deliver this Agreement, to purchase the Securities and to carry out and perform all of its obligations under this Agreement; and (b) this Agreement constitutes the legal, valid and binding obligation of such Purchaser,
enforceable against such Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors’ rights generally and
(ii) as limited by equitable principles generally. The execution, delivery and performance by such Purchaser of the Transaction Documents and the consummation by such Purchaser of the transactions contemplated hereby and thereby will not
(i) result in a violation of the organizational documents of such Purchaser or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and
state securities laws) applicable to such Purchaser, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a
material adverse effect on the ability of such Purchaser to perform its obligations hereunder. 
 (c) At the time such Purchaser was
offered the Securities, it was, and as of the date hereof it is, (i) either: (A) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act, or (B) a “qualified
institutional buyer” as defined in Rule 144A(a) under the Securities Act, (ii) an Institutional Account as defined in Financial Industry Regulatory Authority Rule 4512(c), and (iii) a sophisticated institutional investor, experienced
in investing in private equity transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities, including such Purchaser’s
participation in the transactions contemplated by this 

  
 19. 

 
Agreement. Such Purchaser has determined based on its own independent review and such professional advice as it deems appropriate that its purchase of the Securities and participation in the
transactions contemplated by this Agreement (i) are fully consistent with its financial needs, objectives and condition, (ii) comply and are fully consistent with all investment policies, guidelines and other restrictions applicable to it,
(iii) have been duly authorized and approved by all necessary action, (iv) do not and will not violate or constitute a default under its charter, by-laws or other constituent document or under any
law, rule, regulation, agreement or other obligation by which it is bound and (v) are a fit, proper and suitable investment for such Purchaser, notwithstanding the substantial risks inherent in investing in or holding the Securities. Such
Purchaser is able to bear the substantial risks associated with its purchase of the Securities, including but not limited to loss of its entire investment therein. 

(d) Such Purchaser has (i) received, reviewed and understood the offering materials made available to it in connection with the
transactions contemplated by this Agreement, (ii) had the opportunity to ask questions of and receive answers from the Company directly and (iii) conducted and completed its own independent due diligence with respect to the transactions
contemplated by this Agreement. Based on such information as such Purchaser has deemed appropriate and without reliance upon the Placement Agent, such Purchaser has independently made its own analysis and decision to purchase the Securities. Except
for the representations, warranties and agreements of the Company expressly set forth in this Agreement, such Purchaser is relying exclusively on its own sources of information, investment analysis and due diligence (including professional advice it
deems appropriate) with respect to the transactions contemplated by this agreement, the Securities and the business, condition (financial and otherwise), management, operations, properties and prospects of the Company, including but not limited to
all business, legal, regulatory, accounting, credit and tax matters. Such Purchaser did not learn of the investment in the Securities as a result of any general solicitation or general advertising. 

(e) Such Purchaser has no present intent to effect a “change of control” of the Company as such term is understood under the
rules promulgated pursuant to Section 13(d) of the Exchange Act. 
 (f) Such Purchaser is acquiring its entire beneficial
ownership interest in the Securities for its own account for investment purposes only and not with a view to any distribution of the Securities in any manner that would violate the securities laws of the United States or any other jurisdiction. Such
Purchaser understands that the Securities have not been registered under the securities laws of the United States or any other jurisdiction and that the Securities may not be resold or transferred in the United States or otherwise except in
compliance with applicable law and the restrictions on transfer set forth in the definitive documentation for the Transaction. 
 (g)
Such Purchaser understands that the Securities being offered and sold to it in reliance on specific exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the
truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the
eligibility of such Purchaser to acquire the Securities. Such Purchaser further acknowledges and understands that the Securities may not be resold or otherwise transferred except in a transaction registered under the Securities Act or unless an
exemption from such registration is available. 

  
 20. 

 (h) If such Purchaser is a person in a member state of the European Economic Area,
such investor is a “qualified investor” as defined in the Prospectus Regulation. 
 (i) If such Purchaser is a person in the
United Kingdom, such investor is a “qualified investor” as defined in the UK Prospectus Regulation who (i) has professional experience in matters relating to investments falling within the definition of “investment
professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and/or (ii) is a high net worth body corporate, unincorporated association and partnership and
trustee of high value trusts as described in Article 49(2)(a) to (d) of the Order. 
 (j) Such Purchaser has complied and will
comply with all applicable provisions of MAR, FSMA, the Financial Services Act 2012 and the DTRs with respect to anything done by the Purchaser in relation to the Securities in, from or otherwise involving the United Kingdom. 

(k) Dispositions. 

(i) Such Purchaser will not, prior to the effectiveness of the Resale Registration Statement (as defined below), if then prohibited by
law or regulation other than pursuant to an available exemption under the Securities Act, sell, offer to sell, solicit offers to buy, dispose of, loan, pledge or grant any right with respect to the Securities. In connection with any transfer of
Securities other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the
transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the
Securities Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under this Agreement. 

(ii) As of the Closing Date, such Purchaser has not directly or indirectly, nor has any person acting on behalf of or pursuant to any
understanding with such Purchaser, engaged in any purchases or sales of the Company’s securities (including, without limitation, any Short Sales involving the Company’s securities) since the time that such Purchaser was first contacted by
the Company, the Placement Agent or any other person regarding the transactions contemplated hereby. Such Purchaser covenants that neither it nor any person acting on its behalf or pursuant to any understanding with it will engage in any purchases
or sales of the Company’s securities (including, without limitation, any Short Sales involving the Company’s securities) prior to the time that the transactions contemplated by this Agreement are publicly disclosed. 

(l) Such Purchaser has independently evaluated the merits of its decision to purchase Securities pursuant to this Agreement. Such
Purchaser understands that nothing in this Agreement or any other materials presented to such Purchaser in connection with the purchase and sale of the Securities constitutes legal, tax or investment advice. 

  
 21. 

 (m) Such Purchaser will hold in confidence all information concerning this Agreement
and the sale and issuance of the Securities until the Company has made a public announcement concerning this Agreement and the sale and issuance of the Securities, which shall be made not later than 9:00 a.m. New York City time on the date of
signing of this Agreement. 
 (n) Purchaser understands that no United States federal or state agency or any other government or
governmental agency has passed upon or made any recommendation or endorsement of the Securities. 
 (o) Legend. 

(i) Such Purchaser understands that the Securities shall bear a restrictive legend in substantially the following form (and a stop
transfer order may be placed against transfer of the certificates for the Securities): 
 “THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR IN ANY OTHER JURISDICTION. THE SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED, SOLD OR TRANSFERRED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS UNLESS OFFERED, SOLD OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THOSE LAWS.” 

(ii) The Company shall, at its sole expense, upon appropriate notice from any Purchaser stating that Registrable Shares have been sold
pursuant to an effective Registration Statement, timely prepare and deliver certificates or book-entry shares representing the Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates or book-entry shares
shall be free of any restrictive legends and in such denominations and registered in such names as such Purchaser may request. Further, the Company shall, at its sole expense, cause its legal counsel or other counsel satisfactory to the transfer
agent: (i) while the Registration Statement is effective, to issue to the transfer agent a “blanket” legal opinion to allow (A) the legend on the Securities to be removed, or (B) sales without restriction pursuant to the
effective Registration Statement, and (ii) provide all other opinions as may reasonably be required by the transfer agent in connection with the removal of legends. A Purchaser may request that the Company remove, and the Company agrees to
authorize the removal of, any legend from such Shares, following the delivery by a Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such Shares: (i) following any sale of such Shares pursuant
to Rule 144, (ii) if such Shares are eligible for sale under Rule 144(b)(1), or (iii) following the time that the Registration Statement is declared effective. If a legend removal request is made pursuant to the foregoing, the Company will, no
later than three (3) Trading Days following the delivery by a Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such Shares (or a request for legend removal, in the case of Shares issued in
book-entry form), deliver or cause to be delivered to such Purchaser a certificate representing such Shares that is free from all restrictive legends or an equivalent book-entry position, as requested

  
 22. 

 
by the Purchaser. Certificates for Shares free from all restrictive legends may be transmitted by the Company’s transfer agent to the Purchasers by crediting the account of the
Purchaser’s prime broker with the Depository Trust Company (“DTC”) as directed by such Purchaser. The Company warrants that the Securities shall otherwise be freely transferable on the books and records of the Company as
and to the extent provided in this Agreement. If a Purchaser effects a transfer of the Securities in accordance with Section 3.2(o)(ii), the Company shall permit the transfer and shall promptly instruct its transfer agent
to issue one or more certificates or credit shares to the applicable balance accounts at DTC in such name and in such denominations as specified by such Purchaser to effect such transfer. Such Purchaser hereby agrees that the removal of the
restrictive legend pursuant to this Section 3.2(o)(ii) is predicated upon the Company’s reliance that such Purchaser will sell any such Shares pursuant to either the registration requirements of the Securities Act,
including any applicable prospectus delivery requirements, or an exemption therefrom. 
 (p) Immediately prior to the Closing, such
Purchaser, together with its affiliates and any other persons acting as a group together with such Purchaser and any of its affiliates, beneficially owned the number of shares set forth on such Purchaser’s signature page attached hereto (as
such ownership is calculated pursuant to the rules of Nasdaq). 
 (q) If such Purchaser is not a United States person (as defined by
Section 7701(a)(30) of the Code), such Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Securities or any use of this
Agreement, including (a) the legal requirements within its jurisdiction for the purchase of the Securities, (b) any foreign exchange restrictions applicable to such purchase or acquisition, (c) any government or other consents that
may need to be obtained, and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. Such Purchaser’s subscription and payment for and continued
beneficial ownership of the Securities will not violate any applicable securities or other laws of such Purchaser’s jurisdiction. 

(r) Such Investor is authorized and entitled to acquire the Securities under the laws of all relevant jurisdictions that apply to it,
has complied and will comply in all material respects with all such laws relating to the acquisition of the Securities (including, where applicable, MAR, the UK Criminal Justice Act 1993, the UK Proceeds of Crime Act 2002, the UK Terrorism Act 2000,
the UK Terrorism Act 2006, the UK Money Laundering Regulations 2007 and the UK Money Laundering, Terrorist Financing and Transfer of Funds (Information on Payer) Regulations 2017 and any related or similar rules, regulations or guidelines
administered or enforced by any governmental agency having jurisdiction in respect thereof) and has obtained all applicable consents which may be required in relation to the acquisition of the Securities. 

(s) Acknowledgements Regarding Placement Agent by each Purchaser. Such Purchaser acknowledges that (a) the Placement Agent
is acting solely as the Company’s placement agent in connection with the transactions contemplated by this Agreement and is not acting as an underwriter or in any other capacity and is not and will not be construed as a fiduciary for such
Purchaser, the Company or any other person or entity in connection with the transactions contemplated by this Agreement, (b) the Placement Agent has not made and will not make any representation or warranty, whether express or implied, of any
kind or character and has not provided any advice or recommendation in connection with the transactions contemplated by this 

  
 23. 

 
Agreement, (c) the Placement Agent will have no responsibility with respect to (i) any representations, warranties or agreements made by any person or entity under or in connection with
the transactions contemplated by this Agreement or any of the documents furnished pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability (with respect to any person) or any thereof, or (ii) the
business, affairs, financial condition, operations, properties or prospects of, or any other matter concerning the Company or the transactions contemplated by this Agreement, and (d) the Placement Agent shall have no liability or obligation
(including without limitation, for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or disbursements incurred by you, the Company or any other person or entity), whether in
contract, tort or otherwise, to such Purchaser, or to any person claiming through such Purchaser, in respect of the transactions contemplated by this Agreement. 
  

	4.	 REGISTRATION RIGHTS 

4.1 Definitions. For the purpose of this Section 4: 

(a) the term “Resale Registration Statement” shall mean any registration statement required to be filed by
Section 4.2 below, and shall include any preliminary prospectus, final prospectus, exhibit or amendment included in or relating to such registration statements; and 

(b) the term “Registrable Shares” means the Securities; provided, however, that a security shall cease to
be a Registrable Share upon the earliest to occur of the following: (i) a Resale Registration Statement registering such security under the Securities Act has been declared or becomes effective and such security has been sold or otherwise
transferred by the holder thereof pursuant to and in a manner contemplated by such effective Resale Registration Statement, (ii) such security is sold pursuant to Rule 144 under circumstances in which any legend borne by such security relating
to restrictions on transferability thereof, under the Security Act or otherwise, is removed by the Company, (iii) such security is eligible to be sold pursuant to Rule 144 without condition or restriction, including without any limitation as to
volume of sales, and without the Holder complying with any method of sale requirements or notice requirements under Rule 144, or (iv) such security shall cease to be outstanding following its issuance. 

4.2 Registration Procedures and Expenses. The Company shall: 

(a) file a Resale Registration Statement (the “Mandatory Registration Statement”) with the Commission on or
before May 30, 2022 (the “Filing Date”) to register all of the Registrable Shares on Form F-3 under the Securities Act (providing for shelf registration of such Registrable Shares
under Commission Rule 415). In the event that Form F-3 is not available for the registration of the Registrable Shares, the Company shall register the resale of the Registrable Shares on such other form as is
available to the Company; 
 (b) use its commercially reasonable efforts to cause such Mandatory Registration Statement to be declared
effective as soon as practicable and in any event within the earlier of: (i) 30 days following the Filing Date and (ii) five (5) Trading Days after the date the Company receives written notification from the Commission that the Mandatory
Registration Statement will not be reviewed (or, in the event the Staff reviews and has written comments to the Mandatory Registration Statement, within 90 days following the Filing Date) (the earlier of the foregoing or the applicable date set
forth in Section 4.2(i), the “Effectiveness Deadline”), such efforts to include, without limiting the generality of the foregoing, preparing and filing with the Commission any financial statements or
other information that is required to be filed prior to the effectiveness of such Mandatory Registration Statement; 

  
 24. 

 (c) notwithstanding anything contained in this Agreement to the contrary, in the
event that the Commission limits the amount of Registrable Shares or otherwise requires a reduction in the number of Registrable Shares that may be included and sold by the Purchasers in the Mandatory Registration Statement (in each case, subject to
Section 4.3), then the Company shall prepare and file (i) within ten (10) Trading Days of the first date or time that such excluded Registrable Shares may then be included in a Resale Registration Statement if the
Commission shall have notified the Company that certain Registrable Shares were not eligible for inclusion in the Resale Registration Statement or (ii) in all other cases, within 20 days following the date that the Company becomes aware that
such additional Resale Registration Statement is required (the “Additional Filing Date”), a Resale Registration Statement (any such Resale Registration Statement registering such excluded Registrable Shares, an
“Additional Registration Statement” and, together with the Mandatory Registration Statement, a “Resale Registration Statement”) to register any Registrable Shares that have been excluded (or, if
applicable, the maximum number of such excluded Registrable Shares that the Company is permitted to register for resale on such Additional Registration Statement consistent with Commission guidance), if any, from being registered on the Mandatory
Registration Statement; 
 (d) not less than two (2) Trading Days prior to the filing of a Registration Statement or any related
prospectus or any amendment or supplement thereto, furnish via email to those Purchasers who have supplied the Company with email addresses copies of all such documents proposed to be filed, which documents (other than any document that is
incorporated or deemed to be incorporated by reference therein) will be subject to the review of such Purchasers. The Company shall reflect in each such document when so filed with the Commission such comments regarding the Purchasers and the plan
of distribution as the Purchasers may reasonably and promptly propose no later than two (2) Trading Days after the Purchasers have been so furnished with copies of such documents as aforesaid; 

(e) use its commercially reasonable efforts to cause any such Additional Registration Statement to be declared effective as promptly as
practicable following the Additional Filing Date, such efforts to include, without limiting the generality of the foregoing, preparing and filing with the Commission any financial statements or other information that is required to be filed prior to
the effectiveness of any such Additional Registration Statement; 
 (f) promptly prepare and file with the Commission such amendments
and supplements to such Resale Registration Statements and the prospectus used in connection therewith as may be necessary to keep such Resale Registration Statements continuously effective and free from any material misstatement or omission to
state a material fact therein until termination of such obligation as provided in Section 4.7 below, subject to the Company’s right to suspend pursuant to Section 4.5; 

  
 25. 

 (g) furnish to the Purchasers such number of copies of prospectuses in conformity
with the requirements of the Securities Act and such other documents as the Purchasers may reasonably request, in order to facilitate the public sale or other disposition of all or any of the Registrable Shares by the Purchasers; 

(h) file such documents as may be required of the Company for normal securities law clearance for the resale of the Registrable Shares
in such states of the United States as may be reasonably requested by the Purchasers and use its commercially reasonable efforts to maintain such blue sky qualifications during the period the Company is required to maintain effectiveness of the
Resale Registration Statements; provided, however, that the Company shall not be required in connection with this Section 4.2(h) to qualify as a foreign corporation or execute a general consent to service of process
in any jurisdiction in which it is not now so qualified or has not so consented; 
 (i) upon notification by the Commission that the
Resale Registration Statement will not be reviewed or is not subject to further review by the Commission, the Company shall within three (3) Trading Days following the date of such notification request acceleration of such Resale Registration
Statement (with the requested effectiveness date to be not more than two (2) Trading Days later); 
 (j) upon notification by the
Commission that the Resale Registration Statement has been declared effective by the Commission, the Company shall file the final prospectus under Rule 424 of the Securities Act (“Rule 424”) within the applicable time period
prescribed by Rule 424; 
 (k) advise the Purchasers promptly (and in any event within two (2) Trading Days thereof): 

(i) of the effectiveness of the Resale Registration Statement or any post-effective amendments thereto; 

(ii) of any request by the Commission for amendments to the Resale Registration Statement or amendments to the prospectus or for
additional information relating thereto; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of
the Resale Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Registrable Shares for offering or sale in any jurisdiction, or the initiation of any proceeding for any
of the preceding purposes; and 
 (iv) of the existence of any fact and the happening of any event that makes any statement of a
material fact made in the Resale Registration Statement, the prospectus and amendment or supplement thereto, or any document incorporated by reference therein, untrue, or that requires the making of any additions to or changes in the Resale
Registration Statement or the prospectus in order to make the statements therein not misleading; 
 (l) cause all Registrable Shares
to be listed on each securities exchange, if any, on which equity securities by the Company are then listed; and 

  
 26. 

 (m) bear all expenses in connection with the procedures in paragraphs
(a) through (l) of this Section 4.2 and the registration of the Registrable Shares on such Resale Registration Statement and the satisfaction of the blue sky laws of such states. 

4.3 Rule 415; Cutback. 
 If
at any time the staff of the Commission (“Staff”) takes the position that the offering of some or all of the Registrable Shares in a Registration Statement is not eligible to be made on a delayed or continuous basis under the
provisions of Rule 415 under the Securities Act or requires any Purchaser to be named as an “underwriter,” the Company shall (in consultation with legal counsel to the lead Purchaser) use its commercially reasonable efforts to persuade the
Commission that the offering contemplated by the Registration Statement is a valid secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Purchasers is an “underwriter.”
In the event that, despite the Company’s commercially reasonable efforts and compliance with the terms of this Section 4.3, the Staff refuses to alter its position, the Company shall (i) remove from the
Registration Statement such portion of the Registrable Shares (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Shares as the Staff may
require to assure the Company’s compliance with the requirements of Rule 415 (collectively, the “SEC Restrictions”); provided, however, that the Company shall not agree to name any Purchaser as an “underwriter”
in such Registration Statement without the prior written consent of such Purchaser. Any cutback imposed on the Purchasers pursuant to this Section 4.3 shall be allocated among the Purchasers on a pro rata basis, unless the
SEC Restrictions otherwise require or provide or the Purchasers holding a majority of the Registrable Shares otherwise agree. No liquidated damages shall accrue as to any Cut Back Shares until such date as the Company is able to effect the
registration of such Cut Back Shares in accordance with any SEC Restrictions (such date, the “Restriction Termination Date” of such Cut Back Shares). From and after the Restriction Termination Date applicable to any Cut Back
Shares, all of the provisions of this Section 4 shall again be applicable to such Cut Back Shares; provided, however, that (x) the Filing Deadline for the Registration Statement including such Cut Back Shares shall be
ten (10) Trading Days after such Restriction Termination Date, and (y) the Effectiveness Deadline with respect to such Cut Back Shares shall be the 90th day immediately after the
Restriction Termination Date or the 120th day if the Staff reviews such Registration Statement (but in any event no later than three (3) Trading Days from the Staff indicating it has no
further comments on such Registration Statement). 
 4.4 Indemnification. 

(a) The Company agrees to indemnify and hold harmless each Purchaser and its affiliates, partners, members, officers, directors, agents
and representatives, and each person, if any, who controls such Purchaser within the meaning of Section 15 of the Securities Act or Section 20 the Exchange Act (each, a “Purchaser Party” and collectively the
“Purchaser Parties”), to the fullest extent permitted by applicable law, from and against any losses, claims, damages or liabilities (collectively, “Losses”) to which they may become subject (under the
Securities Act or otherwise) insofar as such Losses (or actions or proceedings in respect thereof) arise out of, or are based upon, any material breach of this Agreement by the Company or any untrue statement or alleged untrue statement of a
material fact contained in the Resale Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or 

  
 27. 

 
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading or arise out of any failure by the Company to fulfill any undertaking included
in the Resale Registration Statement and the Company will, as incurred, reimburse the Purchaser Parties for any legal or other expenses reasonably incurred in investigating, defending or preparing to defend any such action, proceeding or claim;
provided, however, that the Company shall not be liable in any such case to the extent that such Loss arises out of, or is based upon: (i) an untrue statement or omission or alleged untrue statement or omission made in such Resale
Registration Statement in reliance upon and in conformity with written information furnished to the Company by or on behalf of such Purchaser specifically for use in preparation of the Resale Registration Statement; or (ii) any breach of this
Agreement by such Purchaser; provided further, however, that the Company shall not be liable to any Purchaser Party (or any partner, member, officer, director or controlling person of the Purchasers) to the extent that any such Loss is caused
by an untrue statement or omission or alleged untrue statement or omission made in any preliminary prospectus if either (i) (A) such Purchaser failed to send or deliver a copy of the final prospectus with or prior to, or such Purchaser failed
to confirm that a final prospectus was deemed to be delivered prior to (in accordance with Rule 172 of the Securities Act) the delivery of written confirmation of the sale by such Purchaser to the person asserting the claim from which such Loss
resulted and (B) the final prospectus corrected such untrue statement or omission, (ii) (X) such untrue statement or omission is corrected in an amendment or supplement to the prospectus and (Y) having previously been furnished by or
on behalf of the Company with copies of the prospectus as so amended or supplemented or notified by the Company that such amended or supplemented prospectus has been filed with the Commission, in accordance with Rule 172 of the Securities Act, such
Purchaser thereafter fails to deliver such prospectus as so amended or supplemented, with or prior to or a Purchaser fails to confirm that the prospectus as so amended or supplemented was deemed to be delivered prior to (in accordance with Rule 172
of the Securities Act) the delivery of written confirmation of the sale by such Purchaser to the person asserting the claim from which such Loss resulted or (iii) such Purchaser sold Registrable Shares in violation of such Purchasers’
covenants contained in Section 3.2 of this Agreement. 
 (b) Each Purchaser agrees, severally and not
jointly, to indemnify and hold harmless the Company and its officers, directors, affiliates, agents and representatives and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act (each a “Company Party” and collectively the “Company Parties”), from and against any Losses to which the Company Parties may become subject (under the
Securities Act or otherwise), insofar as such Losses (or actions or proceedings in respect thereof) arise out of, or are based upon, any material breach of this Agreement by such Purchaser or untrue statement or alleged untrue statement of a
material fact contained in the Resale Registration Statement (or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading, in each case, on the effective date thereof), if, and only to the extent, such untrue statement or omission or alleged untrue statement or omission was made in reliance upon and in conformity with written information
furnished by or on behalf of such Purchaser specifically for use in preparation of the Resale Registration Statement, and each Purchaser, severally and not jointly, will reimburse each Company Party for any legal or other expenses reasonably
incurred in investigating, defending or preparing to defend any such action, proceeding or claim; provided, however, that in no event shall any indemnity under this Section 4.4(b) be greater in amount than the dollar
amount of the net proceeds received by such Purchaser upon its sale of the Registrable Shares included in the Registration Statement giving rise to such indemnification obligation. 

  
 28. 

 (c) Promptly after receipt by any indemnified person of a notice of a claim or the
beginning of any action in respect of which indemnity is to be sought against an indemnifying person pursuant to this Section 4.4, such indemnified person shall notify the indemnifying person in writing of such claim or of
the commencement of such action, and, subject to the provisions hereinafter stated, in case any such action shall be brought against an indemnified person and such indemnifying person shall have been notified thereof, such indemnifying person shall
be entitled to participate therein, and, to the extent that it shall wish, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified person. After notice from the indemnifying person to such indemnified person of its
election to assume the defense thereof, such indemnifying person shall not be liable to such indemnified person for any legal expenses subsequently incurred by such indemnified person in connection with the defense thereof; provided, however,
that if there exists or shall exist a conflict of interest that would make it inappropriate in the reasonable judgment of the indemnified person for the same counsel to represent both the indemnified person and such indemnifying person or any
affiliate or associate thereof, the indemnified person shall be entitled to retain its own counsel at the expense of such indemnifying person; provided, further, that no indemnifying person shall be responsible for the fees and expense of
more than one separate counsel for all indemnified parties. The indemnifying party shall not settle an action without the consent of the indemnified party, which consent shall not be unreasonably withheld. 

(d) If the indemnification provided for in this Section 4.4 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law
contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other, as well as any other relevant equitable considerations; provided, that in no event shall any contribution by an indemnifying party hereunder be greater in amount than the dollar amount of the proceeds received by such
indemnifying party upon the sale of such Registrable Shares. 
 4.5 Prospectus Suspension. Each Purchaser acknowledges that
there may be times when the Company must suspend the use of the prospectus forming a part of the Resale Registration Statement until such time as an amendment to the Resale Registration Statement has been filed by the Company and declared effective
by the Commission, or until such time as the Company has filed an appropriate report with the Commission pursuant to the Exchange Act. Each Purchaser hereby covenants that it will not sell any Registrable Shares pursuant to said prospectus during
the period commencing at the time at which the Company gives the Purchasers notice of the suspension of the use of said prospectus and ending at the time the Company gives the Purchasers notice that the Purchasers may thereafter effect sales
pursuant to said prospectus; provided, that such suspension periods shall in no event exceed 30 consecutive days, for a total of not more than 60 days in any 12 month period and that, in the good faith judgment of the Company’s board of
directors, the Company would, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to disclose any corporate development, a potentially significant transaction or event involving the Company, or
any negotiations, discussions, or proposals directly relating thereto, in either case the disclosure of which would reasonably be expected to have a material adverse effect upon the Company or its stockholders. 

  
 29. 

 4.6 Obligations of the Purchasers. Each Purchaser shall furnish in writing to
the Company such information regarding itself, the Registrable Shares held by it and the intended method of disposition of the Registrable Shares held by it, as shall be reasonably required to effect the registration of such Registrable Shares, and
shall execute such documents in connection with such registration as the Company may reasonably request. At least five (5) Business Days prior to the first anticipated filing date of any Registration Statement, the Company shall notify each
Purchaser of the information the Company requires from such Purchaser. Each Purchaser shall provide such information to the Company at least three (3) Business Days prior to the first anticipated filing date of such Registration Statement. Each
Purchaser, by its acceptance of the Registrable Shares, agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of a Registration Statement hereunder, unless such Purchaser has
notified the Company in writing of its election to exclude all of its Registrable Shares from such Registration Statement. Each Purchaser covenants and agrees that it will comply with the prospectus delivery requirements of the 1933 Act as
applicable to it or an exemption therefrom in connection with sales of Registrable Shares pursuant to any Registration Statement. 

4.7 Termination of Obligations. The obligations of the Company pursuant to Section 4.2 hereof shall
cease and terminate, with respect to any Registrable Shares, upon the earlier to occur of (a) such time such Registrable Shares have been resold, or (b) such time as such Registrable Shares no longer remain Registrable Shares pursuant to
Section 4.1(b) hereof. 
 4.8 Reporting Requirements. 

(a) With a view to making available the benefits of certain rules and regulations of the Commission that may at any time permit the sale
of the Securities to the public without registration or pursuant to a registration statement on Form F-3, the Company agrees to use: 

(i) make and keep adequate current public information available, as those terms are understood and defined in Rule 144, until the
earlier of (A) six months after such date as all of the Registrable Shares may be sold without restriction by the holders thereof pursuant to Rule 144 or any other rule of similar effect or (B) such date as all of the Registrable Shares
shall have been resold; 
 (ii) file with the Commission in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act; and 
 (iii) so long as a Purchaser owns Registrable Shares, to furnish to such
Purchaser upon request (A) a written statement by the Company as to whether it is in compliance with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, or whether it is qualified as a registrant whose securities
may be resold pursuant to Commission Form F-3, (B) 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 (C) such other
information as may be reasonably requested to permit the Purchaser to sell such securities pursuant to Rule 144. 

  
 30. 

 4.9 Blue Sky. The Company shall obtain and maintain all necessary blue sky law
permits and qualifications, or secured exemptions therefrom, required by any state for the offer and sale of Registrable Shares. 
  

	5.	 OTHER AGREEMENTS OF THE PARTIES 

5.1 Integration. Except as contemplated by the terms of this Agreement, the Company shall not sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities such that the rules of Nasdaq would require shareholder approval
of this transaction prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 

5.2 Securities Laws Disclosure; Publicity. The Company shall: (a) issue a press release not later than 9:00 a.m. (New York
City time) on the date of signing of this Agreement disclosing the material terms of the transactions contemplated hereby (the “Press Release”), and (b) by 5:30 p.m. (New York City time) on the fourth (4th) Trading Day following the date hereof, file a Report on Form 6-K disclosing the material terms of the transactions contemplated hereby which may include as
an exhibit thereto only a form of this Agreement (which will not reference any specific Purchaser therein) (the “Form 6-K”). From and after the issuance of the Press Release, no
Purchaser shall be in possession of any material, non-public information received from the Company or any of their respective officers, directors or employees that is not disclosed in the Press Release.
Subject to the foregoing, no Purchaser shall issue any press releases or any other public statements with respect to the transactions contemplated hereby except as may be reviewed and approved by the Company; provided, however, that the
Company shall be entitled, without the prior approval of any Purchaser, to make any press release or other public disclosure with respect to the transactions contemplated hereby, provided that the Company shall not publicly disclose the name of any
Purchaser or an affiliate of any Purchaser except as otherwise required by applicable law and regulations. Notwithstanding the foregoing, and unless required by law or the rules and regulations of the Commission, or the AIM Rules and/or MAR, or
otherwise agreed to in writing by the Company and the applicable Purchaser, the Company shall not publicly disclose the name of such Purchaser or an affiliate of such Purchaser, or include the name of such Purchaser or an affiliate of such Purchaser
in any press release or filing with the Commission or any regulatory agency or the Nasdaq, without the prior written consent of such Purchaser. 

5.3 Non-Public Information. Except with respect to (i) the material terms and
conditions of the transactions contemplated by the Transaction Documents and (ii) material information that will have been made public by the time of execution of this Agreement, the Company covenants and agrees that neither it, nor any other
Person acting on its behalf will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes, material non-public information and/or
inside information. 
 5.4 Use of Proceeds. The Company will use the proceeds from the offering for working capital and other
general corporate purposes. 

  
 31. 

 5.5 Listing. In the time and manner required by the AIM Rules for Companies,
the Company shall procure that its nominated adviser submits to the London Stock Exchange an application for admission of all of the Ordinary Shares (including the Ordinary Shares to be represented by ADSs) to trading on AIM. 

5.6 Equal Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or
paid to any person to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered to all of the parties to the Transaction Documents. For clarification purposes, this
provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as the Purchasers
acting in concert or as a group with respect to the purchase, disposition or voting of Securities or otherwise. 
  

	6.	 MISCELLANEOUS 

6.1 Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and
without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated within ten (10) calendar days from the Effective Date through no
fault of such Purchaser; provided, however, that no such termination will affect the right of any party to sue for any breach by the other party (or parties). 

6.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees
and expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. Notwithstanding the foregoing, the Company shall pay to the Purchasers all transfer agent fees, and all stamp duty
or stamp duty reserve tax required to be paid in the United Kingdom by the Purchasers, in connection with the issuance of the Securities to the Purchasers in accordance with the terms of this Agreement. 

6.3 Entire Agreement. The Transaction Documents together with the exhibits and schedules thereto, contain the entire
understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such subject matter, which the parties acknowledge have been merged into such documents,
exhibits and schedules. 
 6.4 Notices. Any and all notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given and effective upon actual receipt via mail, courier or confirmed email by the party to whom such notice is required to be given. The address for such notices and communications shall
be as set forth on the signature pages attached hereto. 
 6.5 Amendments; Waivers. No provision of this Agreement may be
waived or amended except in a written instrument signed, in the case of an amendment, by (a) the Company and (b) Purchasers holding at least a majority of the Securities sold in the Closing (as a single class on an as-converted basis) and then-held by a Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought; provided that if any amendment, disproportionately and
adversely impacts a Purchaser (or group of Purchasers) in any material respect, the consent of such disproportionately impacted Purchaser (or group of 

  
 32. 

 
Purchasers) shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a
waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. 

6.6 Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to
limit or affect any of the provisions hereof. 
 6.7 Successors and Assigns. This Agreement shall be binding upon and inure to
the benefit of the parties and their permitted successors and assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger). The Purchasers may
not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Company (other than by merger). 

6.8 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction
Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or
agents) shall be commenced exclusively in the state and federal courts sitting in the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and
agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. The Company
agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and may be enforced in any court to the jurisdiction of which Company is subject by a suit upon such judgment.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any
right to serve process in any other manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such action or proceeding shall be reimbursed by
the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding. 

  
 33. 

 6.9 Authorized Agent. The Company irrevocably appoints Renalytix AI, Inc.,
located at 1460 Broadway, New York, New York 10036, as its authorized agent in the Borough of Manhattan in The City of New York upon which process may be served in any such suit or proceeding, and agrees that service of process upon such authorized
agent, and written notice of such service to the Company by the person serving the same to the address provided in this Section 6.9, shall be deemed in every respect effective service of process upon the Company in any such
suit or proceeding. The Company hereby represents and warrants that such authorized agent has accepted such appointment and has agreed to act as such authorized agent for service of process. The Company further agrees to take any and all action as
may be necessary to maintain such designation and appointment of such authorized agent in full force and effect for a period of seven years from the date of this Agreement. 

6.10 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature on
this Agreement is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a legally valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

6.11 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto
shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared
to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

6.12 Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein
provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights. 

6.13 Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or
destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of
evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity or bond, if requested. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs (including customary indemnity) associated with the issuance of such replacement Securities. 
 6.14
Remedies. The Company shall be entitled to exercise all rights provided herein or granted by law, including recovery of damages, for any breach of the Transaction Documents. 

  
 34. 

 6.15 Independent Nature of Purchasers’ Obligations and Rights. The
obligations of each Purchaser under any Transaction Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or
non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action taken by any Purchaser pursuant thereto,
shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations
or the transactions contemplated by the Transaction Documents. Each Purchaser shall be entitled to independently protect and enforce its rights, including without limitation, the rights arising out of this Agreement or out of the other Transaction
Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose. 

6.16 Construction. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to
revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any
amendments hereto. 
 6.17 Third-Party Beneficiaries. The Placement Agent shall be the third party beneficiaries of the
representations and warranties of the Company in Section 3.1, the representations, warranties and covenants of the Purchasers in Section 3.2, Section 5.2 and
Section 5.5 of this Agreement. This Agreement is intended for the benefit of the parties hereto, as well as the Placement Agent to the extent it is a third party beneficiary pursuant to this
Section 6.17, and its respective permitted successors and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except as otherwise set forth in
Section 4.4(a) and this Section 6.17. 
 6.18 WAIVER OF JURY TRIAL. IN ANY
ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND
EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 
 [Remainder of page intentionally left blank.] 

  
 35. 

 IN WITNESS WHEREOF, the parties hereto have
caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above. 
  

			
	RENALYTIX PLC
	
	 /s/ James McCullough

	Name: James McCullough
	Title: CEO
	
	Address for Notice:
		
	Email:	 	
	Attention:	 	
	
	With copies to (which shall not constitute notice):
	
	Cooley (UK) LLP
	Address:	 	 22 Bishopsgate
 London, UK EC2N
4BQ

		 	
		
	Email:	 	
	Attention:	 	Claire Keast-Butler
	
	Cooley LLP
	Address:	 	 500 Boylston Street, 14th Floor

Boston, Massachusetts 02116-3736

		 	
		
	Email:	 	
	Attention:	 	Marc A. Recht

  
 36. 

 
			
	PURCHASERS:
	
	ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI:
		
	By:	 	 /s/ Matthew Rosamond

	Name:	 	Matthew Rosamond
	Title:	 	CFO

 
			
		
	Address:	 	 One Gustave L. Levy Place
 Box 1675

New York, NY 10029

 
			
		
	Shares Beneficially Owned Prior to Initial Closing:	 	10,750,926

 
			
		
	EIN:	 	  

		
	Contact:	 	  

		
	Email:	 	  

  
 37. 

 
			
	PURCHASERS:
	
	HARWOOD CAPITAL:
		
	By:	 	 /s/ Christopher Mills

	Name:	 	Christopher Mills
	Title:	 	  

 
			
		
	Address:	 	  

		 	  

		 	  

 
			
		
	Shares Beneficially Owned Prior to Initial Closing:	 	9,174,401

 
			
		
	EIN:	 	  

		
	Contact:	 	  

		
	Email:	 	  

  
 38. 

 
			
	PURCHASERS:
	
	EKF DIAGNOSTICS HOLDINGS:
		
	By:	 	 /s/ Julian Baines

	Name:	 	Julian Baines
	Title:	 	Non-exec Deputy Chairman

 
			
		
	Address:	 	Avon House, 19 Stanwell Road Penarth, Vale of Glamorgan UK CF64 2EZ

 
			
		
	Shares Beneficially Owned Prior to Initial Closing:	 	1,002,981

 
			
		
	EIN:	 	  

		
	Contact:	 	  

		
	Email:	 	  

  
 39. 

 
			
	PURCHASERS:	 	
	
	THOMAS MCLAIN:
	
	 /S/ THOMAS
MCLAIN

 
			
		
	Address:	 	  

		 	  

		 	  

 
			
		
	Shares Beneficially Owned Prior to Initial Closing:	 	3,978

 
			
		
	Email:	 	  

  
 40. 

 
			
	PURCHASERS:
	
	TIMOTHY SCANNELL:
	
	 /S/ TIMOTHY
SCANNELL

 
			
		
	Address:	 	  

		 	  

		 	  

		
	Shares Beneficially Owned Prior to Initial Closing:	 	0

 
			
		
	Email:	 	  

  
 41. 

 
			
	PURCHASERS:
	
	ANN BERMAN:
	
	 /S/ ANN
BERMAN

 
			
		
	Address:	 	  

		 	  

		 	  

		
	Shares Beneficially Owned Prior to Initial Closing:	 	12,000

 
			
		
	Email:	 	  

  
 42. 

 
			
	PURCHASERS:
	
	PINNACLE ASSOCIATES:
		
	By:	 	 /s/ Randy Baron

	Name:	 	Randy Baron
	Title:	 	Portfolio Manager

 
			
		
	Address:	 	286 Madison Avenue
		 	20th Floor
		 	New York, NY 10017
	Shares Beneficially Owned Prior to Initial Closing:	 	  

	EIN:	 	  

	Contact:	 	  

	Email:	 	  

  
 43. 

 
			
	PURCHASERS:
	
	SALIM HAMIR:
	
	 /S/ SALIM HAMIR

		
	Address:	 	  

		 	  

		 	  

	Shares Beneficially Owned Prior to Initial Closing:	 	  

	Email:	 	  

  
 44. 

 
			
	PURCHASERS:
	
	POLAR CAPITAL FUNDS PLC- BIOTECHNOLOGY FUND
	
	POLAR CAPITAL FUNDS PLC-
HEALTHCARE DISCOVERY FUND.
	
	POLAR CAPITAL LLP ON BEHALF OF THE PURCHASERS.
	
	POLAR CAPITAL LLP:
		
	By:	 	 /s/ Stephen Amoah

	Name:	 	Stephen Amoah
	Title:	 	  

 
			
		
	Address:	 	16 Palace Street, London
		 	SW1E 5JD
		 	
	Shares Beneficially Owned Prior to Initial Closing:	 	2,118,100

 
			
	EIN:	 	  

	Contact:	 	  

	Email:	 	  

  
 45. 

 
			
	PURCHASERS:
	
	SCOTT CLARKE:
	
	 /S/ SCOTT
CLARKE

 
			
		
	Address:	 	  

		 	  

		 	  

		
	 Shares
 Beneficially

Owned Prior
 to Initial

Closing:
	 	0

 
			
		
	Email:	 	  

  
 46. 

 EXHIBIT A 

CLOSING SCHEDULE 
  

													
	 Purchaser
	  	Number of
Ordinary
Shares
Purchased	 	  	Number
of ADSs
Purchased	 	  	Total Purchase
Price	 
	 Icahn School of Medicine at Mount Sinai
	  	 	1,103,448	 	  	 	—  	 	  	$	3,999,999.00	 
	 Harwood Capital
	  	 	551,724	 	  	 	—  	 	  	$	1,999,999.50	 
	 EKF Diagnostics Holdings
	  	 	137,930	 	  	 	—  	 	  	$	499,996.25	 
	 Thomas McLain
	  	 	55,172	 	  	 	—  	 	  	$	199,998.50	 
	 Timothy Scannell
	  	 	68,964	 	  	 	—  	 	  	$	249,994.50	 
	 Ann Berman
	  	 	27,586	 	  	 	—  	 	  	$	99,999.25	 
	 Pinnacle Associates
	  	 	—  	 	  	 	34,482	 	  	$	249,994.50	 
	 Salim Hamir
	  	 	9,066	 	  	 	—  	 	  	$	32,864.25	 
	 Polar Capital
	  	 	267,904	 	  	 	—  	 	  	$	971,152.00	 
	 Scott Clarke
	  	 	—  	 	  	 	68,965	 	  	$	499,996.25	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	 	2,221,794	 	  	 	103,447	 	  	$	8,803,994.00	 

  
 47.Exhibit 10.1

 

KAIXIN AUTO HOLDINGS

2022 EQUITY INCENTIVE PLAN

 

The Kaixin Auto Holdings 2022
Equity Incentive Plan (the “Plan”) was adopted by the Board of Kaixin Auto Holdings, an exempted company with
limited liability incorporated in the Cayman Islands (together with its successors and assigns, the “Company”)
under the applicable laws and regulations of that jurisdiction.

 

Article
1

PURPOSE

 

The purpose of the Plan is
to foster and promote the long-term financial success of the Company and its Subsidiaries and materially increase the value of the Company
and its Subsidiaries by (a) encouraging the long-term commitment of the Employees, Consultants, and Outside Directors; (b) motivating
performance of the Employees, Consultants, and Outside Directors by means of long-term performance related incentives; (c) encouraging
and providing Employees, Consultants, and Outside Directors with an opportunity to obtain an ownership interest in the Company; (d) attracting
and retaining outstanding Employees, Consultants, and Outside Directors by providing incentive compensation opportunities; and (e) enabling
participation by Employees, Consultants, and Outside Directors in the long-term growth and financial success of the Company and its Subsidiaries.

 

Article
2

DEFINITIONS

 

For the purpose of the Plan,
unless the context requires otherwise, the following terms shall have the meanings indicated:

 

“Award”
means the grant of any Incentive Share Option, Nonqualified Share Option, Restricted Shares or Restricted Share Units whether granted
singly or in combination (each individually referred to herein as an “Incentive”).

 

“Award Agreement”
means a written agreement between a Participant and the Company which sets out the terms of the grant of an Award.

 

“Award Period”
means the period set forth in the Award Agreement with respect to a Share Option during which the Share Option may be exercised, which
shall commence on the Date of Grant and expire at the time set forth in the Award Agreement.

 

“Board”
means the board of directors of the Company at a time when there are at least two (2) directors serving at the same time or the Sole Director
at a time when there is only one (1) director serving.

 

“Change of
Control” means any of the following: (i) Continuing Directors cease to constitute at least fifty percent (50%) of the
members of the Board; (ii) the shareholders of the Company approve any plan or proposal for the liquidation or dissolution of the
Company; (iii) any consolidation, merger or share exchange of the Company in which the Company is not the continuing or surviving
corporation or pursuant to which the Company’s Ordinary Shares would be converted into cash, securities or other property; or
(iv) any sale, lease, exchange or other transfer (excluding transfer by way of pledge or hypothecation) in one transaction or a
series of related transactions, of all or substantially all of the assets of the Company; provided, however, that a
transaction described in clauses (iii) or (iv) shall not constitute a Change of Control hereunder if after such transaction (I)
Continuing Directors constitute at least fifty percent (50%) of the members of the board of directors of the continuing, surviving
or acquiring entity, as the case may be or, if such entity has a parent entity directly or indirectly holding at least a majority of
the voting power of the voting securities of the continuing, surviving or acquiring entity, Continuing Directors constitute at least
fifty percent (50%) of the members of the board of directors of the entity that is the ultimate parent of the continuing, surviving
or acquiring entity, and (II) the continuing, surviving or acquiring entity (or the ultimate parent of such continuing, surviving or
acquiring entity) assumes all outstanding Awards granted under the Plan.

 

    1

     

    

 

“Code”
means the United States Internal Revenue Code of 1986, as amended.

 

“Committee”
means the committee appointed or designated by the Board to administer the Plan in accordance with Article 8 of the Plan or, in the
case no such committee is appointed, the Board.

 

“Company”
means Kaixin Auto Holdings, an exempted company with limited liability incorporated in the Cayman Islands under the applicable laws and
regulations of that jurisdiction, and any successor entity.

 

“Consultant”
means any person performing advisory or consulting services for the Company or a Subsidiary or parent of the Company, with or without
compensation, to whom the Company chooses to grant an Award in accordance with the Plan; provided, that bona fide
services must be rendered by such person and such services shall not be rendered in connection with the offer or sale of securities in
a capital raising transaction.

 

“Continuing Director(s)”
means the Sole Director at the date of the Plan or Board members who (x) at the date of the Plan were directors or (y) become directors
after the date of the Plan and whose election or nomination for election by the Company’s shareholders was approved by a vote of
a majority of the directors then in office who were directors at the date of the Plan or whose election or nomination for election was
previously so approved.

 

“Corporation”
means any entity that (i) is defined as a corporation under Code Section 7701 and (ii) is the Company or is in an unbroken chain of corporations
(other than the Company) beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain
owns shares possessing a majority of the total combined voting power of all classes of shares in one of the other corporations in the
chain. For purposes of clause (ii) hereof, an entity shall be treated as a Corporation if it satisfies the definition of a corporation
under Section 7701 of the Code.

 

“Date of Grant”
means the effective date on which an Award is made to a Participant as set forth in the applicable Award Agreement.

 

“Employee”
means common law employee (as defined in accordance with the Regulations and Revenue Rulings then applicable under Section 3401(c) of
the Code) of the Company or any Subsidiary or parent of the Company.

 

“Equity Securities”
means the Ordinary Shares, the preferred shares of the Company, any securities having voting rights in the election of the Board not contingent
upon default, any securities evidencing an ownership interest in the Company, any securities convertible into or exercisable for any shares
of the foregoing, and any agreement or commitment to issue any of the foregoing.

 

“Exchange Act”
means the U.S. Securities Exchange Act of 1934.

 

    2

     

    

 

“Fair Market
Value” means, as of a particular date, (a) if the Ordinary Shares are listed on a national securities exchange, the
closing sales price per Ordinary Share on the consolidated transaction reporting system for the principal securities exchange for
the Ordinary Shares on that date, or, if there shall have been no such sale so reported on that date, on the last preceding date on
which such a sale was so reported, (b) if the Ordinary Shares are not so listed or quoted, such amount as may be determined by the
Committee (acting on the advice of an Independent Third Party, should the Board elect in its sole discretion to utilize an
Independent Third Party for this purpose), in good faith, to be the fair market value per share of Ordinary Shares.

 

“Immediate Family”
shall have the meaning as such term is defined in Rule 16a-1(e) promulgated under the Exchange Act.

 

“Incentive Share
Option” means an incentive stock option within the meaning of Section 422 of the Code, granted pursuant to the Plan.

 

“Independent Third
Party” means an individual or entity independent of the Company having experience in providing investment banking or similar
appraisal or valuation services and with expertise generally in the valuation of securities or other property for purposes of the Plan.
The Board may utilize one or more Independent Third Parties.

 

“Material Event”
means any of the following: (i) any consolidation, merger or share exchange of the Company in one transaction or a series of related transactions,
which involves issuance or transfer of at least 20% of total ordinary shares outstanding of the Company; (ii) any sale, lease, exchange
or other transfer (excluding transfer by way of pledge or hypothecation) in one transaction or a series of related transactions, of at
least 20% of the assets of the Company; or (iii) any event or transaction that involves a change of control as defined herein.

  

“Nonpublicly Traded”
means not listed on a national securities exchange.

 

“Nonqualified
Share Option” means a stock option granted pursuant to the Plan which does not satisfy the requirements of Section 422 of
the Code.

 

“Option Price”
means the price which must be paid by a Participant upon exercise of a Share Option to purchase one Ordinary Share.

 

“Ordinary Share”
means the ordinary shares which the Company is currently authorized to issue or may in the future be authorized to issue, or any securities
into which or for which the ordinary shares of the Company may be converted or exchanged, as the case may be, pursuant to the terms of
the Plan.

 

“Outside Director”
means a director of the Company or any Subsidiary of the Company who is not an Employee.

 

“Participant”
means an Employee, Consultant, or Outside Director to whom an Award is granted under the Plan.

 

“Plan”
means this Kaixin Auto Holdings 2022 Equity Incentive Plan, as amended from time to time.

 

“PRC”
means the People’s Republic of China and, for the purposes of the Plan only, excludes the Special Administrative Region of Hong
Kong, the Special Administrative Region of Macau, and Taiwan area.

 

    3

     

    

 

“Restricted Share”
means an Ordinary Share issued or transferred to a Participant pursuant to Section 6.5 of the Plan which is subject to restrictions or
limitations set forth in the Plan and in the related Award Agreement.

 

“Restricted Share
Unit” means the unfunded and unsecured right granted to a Participant pursuant to Section 6.6 of the Plan to receive an
Ordinary Share (or equivalent) at a future date.

 

“Retirement”
means any Termination of Service solely due to retirement upon or after attainment of age sixty-five (65), or permitted early retirement
as determined by the Committee.

 

“Share Option”
means a Nonqualified Share Option or an Incentive Share Option.

 

“Sole Director”
means the director of the Company when there is only one (1) director serving at any given time.

 

“Subsidiary”
means (i) any Corporation, (ii) any limited partnership, if the Company or any Corporation owns a majority of the general partnership
interest and a majority of the limited partnership interests entitled to vote on the removal and replacement of the general partner, and
(iii) any partnership, company or limited liability company, if the partners or members thereof are composed only of the Company, any
Corporation or any limited partnership listed in clause (ii). “Subsidiaries” means more than one of any such
Corporations, limited partnerships, partnerships, companies or limited liability companies.

 

“Termination of
Service” occurs when a Participant who is an Employee or a Consultant ceases to serve as an Employee or Consultant, for
any reason; or, when a Participant who is an Outside Director ceases to serve as a director of the Company and its Subsidiaries, for any
reason.

 

“Total and Permanent
Disability” means a Participant is qualified for long-term disability benefits under the Company’s or its Subsidiary’s
disability plan or insurance policy; or, if no such plan or policy is then in existence or if the Participant is not eligible to participate
in such plan or policy, that the Participant, because of ill health, physical or mental disability or any other reason beyond his or her
control, is unable to perform his or her duties of employment for a period of six (6) continuous months, as determined in good faith by
the Committee; provided, that, with respect to any Incentive Share Option, Total and Permanent Disability shall have the meaning
given it under the rules governing incentive stock options under the Code.

 

Article
3

ELIGIBILITY

 

Any Employee (including an
Employee who is also a director or an officer), Outside Director, or Consultant whose judgment, initiative, and efforts contributed or
may be expected to contribute to the successful performance of the Company is eligible to participate in the Plan; provided, that
only Employees of a Corporation shall be eligible to receive Incentive Share Options.

 

The Committee, upon its own
action, may grant, but shall not be required to grant, an Award to any Employee, Outside Director, or Consultant. Awards may be granted
by the Committee at any time and from time to time to new Participants, or to then Participants, or to a greater or lesser number of Participants,
and may include or exclude previous Participants, as the Committee shall determine.

 

Except as required by the
Plan, Awards granted at different times need not contain similar provisions. The Committee’s determinations under the Plan (including
without limitation determinations of which Employees, Outside Directors, or Consultants, if any, are to receive Awards, the form, amount
and timing of such Awards, the terms and provisions of such Awards and the agreements evidencing same) need not be uniform and may be
made by it selectively among Participants who receive, or are eligible to receive, Awards under the Plan.

 

    	 	4	 

     

    

  

Article
4

SHARES SUBJECT TO PLAN

 

4.1          Number Available for Awards. Subject to adjustment as provided in Articles 11 and 12 hereof, the maximum
number of Ordinary Shares that may be delivered pursuant to Awards granted under the Plan is 39,500,000. As required under U.S. Treasury
Regulation Section 1.422-2(b)(3)(i), in no event will the number of Ordinary Shares that may be delivered pursuant to Incentive Share
Options granted under the Plan exceed 39,500,000.

 

Shares to be issued may be
made available from authorized but unissued Ordinary Shares, Ordinary Shares held by the Company in its treasury, or Ordinary Shares purchased
by the Company on the open market or otherwise. During the term of the Plan, the Company will at all times reserve and keep available
the number of Ordinary Shares that shall be sufficient to satisfy the requirements of the Plan.

 

4.2          Reuse of Shares. Subject to Section 4.2(c) of the Plan, if, and to the extent:

 

(a)          A
Share Option or a Restricted Share Unit shall expire or terminate for any reason without having been exercised or settled in full, or
in the event that a Share Option or a Restricted Share Unit is exercised or settled in a manner such that some or all of the Ordinary
Shares relating to the Share Option or the Restricted Share Unit are not issued to the Participant (or beneficiary) (including as the
result of the use of shares for withholding taxes), the Ordinary Shares subject thereto which have not become issued and outstanding
shall (unless the Plan shall have sooner terminated) become available for issuance under the Plan; in addition, with respect to any share-
for-share exercise or cashless exercise pursuant to Section 7.3 of the Plan or otherwise, only the “net” shares issued shall
be deemed to have become issued and outstanding for purposes of the Plan as a result thereof.

 

(b)          If
Restricted Shares under the Plan are repurchased for any reason, such Restricted Shares shall (unless the Plan shall have sooner terminated)
become available for issuance under the Plan; provided, however, that if any dividends paid with respect to Restricted Shares
were paid to the Participant prior to the repurchase thereof, such shares shall not be reused for grants or awards.

 

(c)          In
no event shall the number of Ordinary Shares subject to Incentive Share Options exceed, in the aggregate, twenty percent (20%) of the
authorized Ordinary Shares plus shares subject to Incentive Share Options which are surrendered to the Company or terminated, or expire
unexercised.

 

Article
5

GRANT OF AWARDS

 

5.1          In General. The Company shall execute an Award Agreement with a Participant after the Committee approves
the issuance of an Award. Any Award granted pursuant to the Plan must be granted within ten (10) years after the date of adoption of the
Plan. The grant of an Award to a Participant shall not be deemed either to entitle the Participant to, or to disqualify the Participant
from, receipt of any other Award under the Plan.

 

5.2          Share Options. The grant of an Award of Share Options shall be authorized by the Committee and shall be
evidenced by an Award Agreement setting forth: (i) the Incentive or Incentives being granted, (ii) the total number of Ordinary Shares
subject to the Incentive(s), (iii) the Option Price, (iv) the Award Period, (v) the Date of Grant, and (vi) such other terms, provisions,
limitations, and performance objectives, as are approved by the Committee, but not inconsistent with the Plan.

 

    	 	5	 

     

    

 

5.3          Option Price. The Option Price for any Ordinary Shares which may be purchased under a Nonqualified Share
Option for any Ordinary Shares may be less than, equal to, or greater than the Fair Market Value of the share on the Date of Grant.

 

The Option Price for any Ordinary
Shares which may be purchased under an Incentive Share Option must be at least equal to the Fair Market Value of the share on the Date
of Grant. If an Incentive Share Option is granted to an Employee who owns or is deemed to own (by reason of the attribution rules of Section
424(d) of the Code) more than ten percent (10%) of the combined voting power of all classes of shares of the Company (or any parent or
Subsidiary of the Company), the Option Price shall be at least one hundred ten percent (110%) of the Fair Market Value of the Ordinary
Shares on the Date of Grant.

 

Notwithstanding the foregoing,
the Option Price for any Ordinary Shares which may be purchased under any Share Option shall not be less than the par value of the Ordinary
Shares.

 

5.4          Maximum Incentive Share Option Grants. The Committee may not grant Incentive Share Options under the Plan
to any Employee which would permit the aggregate Fair Market Value (determined on the Date of Grant) of the Ordinary Shares with respect
to which Incentive Share Options (under this and any other plan of the Company and its Subsidiaries) that are exercisable for the first
time by such Employee during any calendar year to exceed one hundred thousand United States dollars (US$100,000). To the extent any Share
Option granted under the Plan which is designated as an Incentive Share Option exceeds this limit or otherwise fails to qualify as an
Incentive Share Option, such Share Option (or any such portion thereof) shall be a Nonqualified Share Option.

 

5.5          Restricted Shares. If Restricted Shares are granted to or received by a Participant under an Award (including
a Share Option), the Committee shall set forth in the related Award Agreement: (i) the number of Ordinary Shares awarded, (ii) the price,
if any, to be paid by the Participant for such Restricted Shares, (iii) the time or times within which such Award may be subject to repurchase,
(iv) specified performance goals of the Company, a Subsidiary of the Company, any division thereof or any group of Employees, or other
criteria, which the Committee determines must be met in order to remove any restrictions (including vesting) on such Award, and (v) all
other terms, limitations, restrictions, and conditions of the Restricted Shares, which shall be consistent with the Plan. The provisions
of Restricted Shares need not be the same with respect to each Participant. If the Committee establishes a purchase price for an Award
of Restricted Shares, the Participant must accept such Award within a period of thirty (30) days (or such shorter period as the Committee
may specify) after the Date of Grant by executing the applicable Award Agreement and paying such purchase price.

 

(a)           Legend on Shares. Each Participant who is awarded or receives Restricted Shares shall be issued a share certificate
or certificates in respect of such Ordinary Shares. Such certificate(s) shall be registered in the name of the Participant, and shall
bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares, substantially as
provided in Section 15.12 of the Plan.

 

The Committee may require
that the share certificates evidencing Restricted Shares be held in custody by the Company until the restrictions thereon shall have lapsed.

 

    	 	6	 

     

    

 

(b)         Restrictions
and Conditions. Restricted Shares shall be subject to the following restrictions and conditions:

 

(i)          Subject to the other provisions of the Plan and the terms of the particular Award Agreements, during such period as
may be determined by the Committee commencing on the Date of Grant or the date of exercise of an Award (the “Restriction Period”),
the Participant shall not be permitted to sell, transfer, pledge or assign Restricted Shares. Except for these limitations, the Committee
may in its sole discretion, remove any or all of the restrictions on such Restricted Shares whenever it may determine that, by reason
of changes in applicable laws or other changes in circumstances arising after the date of the Award, such action is appropriate.

 

(ii)         Except
as provided in Section 5.5(b)(i) or in the applicable Award Agreement, the Participant shall have, with respect to his or her Restricted
Shares, all of the rights of a shareholder of the Company, including the right to vote the shares and the right to receive any dividends
thereon; provided, that, any dividends payable with respect to unvested Restricted Shares shall be held by the Company and shall only
be paid to Participant if and when the Restriction Period lapses with respect to the Restricted Share to which such dividend relates.
Certificates for Ordinary Shares free of restriction under the Plan and which have not been repurchased under the provisions of the Plan
and the applicable Award Agreement shall be delivered to the Participant promptly after, and only after, the Restriction Period shall
expire in respect of such Ordinary Shares. Certificates for the Ordinary Shares repurchased under the provisions of the Plan and the
applicable Award Agreement shall be promptly returned to the Company by the Participant. Each Award Agreement shall require that (x)
each Participant, by his or her acceptance of Restricted Shares, shall irrevocably grant to the Company a power of attorney to consent
to the repurchase of any unvested shares to the Company and agrees to execute any documents requested by the Company in connection with
such repurchase, and (y) such provisions regarding returns and transfers of share certificates with respect to repurchased Ordinary Shares
shall be specifically performable by the Company in a court of equity or law.

 

(iii)       The Restriction Period of Restricted Shares shall commence on the Date of Grant or the date of exercise of an Award,
as specified in the Award Agreement, and, subject to Article 12 of the Plan, unless otherwise established by the Committee in the Award
Agreement setting forth the terms of the Restricted Shares, shall expire upon satisfaction of the conditions set forth in the Award Agreement;
such conditions may provide for vesting based on (i) length of continuous service, (ii) achievement of specific business objectives, (iii)
increases in specified indices, (iv) attainment of specified growth rates, or (v) other comparable measurements of Company performance,
as may be determined by the Committee in its sole discretion.

 

(iv)        Except as otherwise provided in the particular Award Agreement, upon Termination of Service for any reason during the
Restriction Period, all unvested Restricted Shares shall be repurchased by the Company from the Participant. If the Participant has paid
any monetary consideration to the Company for such repurchased Restricted Shares, the Company shall pay to Participant, as soon as practicable
after the event causing repurchase, in cash, an amount equal to the lesser of the total monetary consideration paid by the Participant
for such repurchased shares or the aggregate Fair Market Value of such repurchased shares as of the date of Termination of Service, and,
if the Participant did not pay any monetary consideration to the Company for such repurchased Restricted Shares, such repurchased Restricted
Shares shall be surrendered to the Company for no consideration. Upon any repurchase or surrender, all rights of the Participant with
respect to the repurchased or surrendered Restricted Shares shall cease and terminate, without any further obligation on the part of the
Company. The Participant, by the Participant’s acceptance of Restricted Shares, shall irrevocably grant to the Company a power of
attorney to consent to the repurchase or surrender of any unvested Restricted Shares to the Company and agrees to execute any documents
requested by the Company in connection with such repurchase. Provisions regarding returns and transfers of share certificates with respect
to repurchased Ordinary Shares shall be specifically performable by the Company in a court of equity or law.

 

    	 	7	 

     

    

 

5.6          Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted Share Units
to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the
number of Restricted Share Units to be granted to each Participant.

 

(a)         Restricted Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement
that shall specify any vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Committee,
in its sole discretion, shall determine.

 

(b)         Performance
Objectives and Other Terms. The Committee, in its discretion, may set performance objectives or other vesting criteria which, depending
on the extent to which they are met, will determine the number or value of Restricted Share Units that will be paid out to the Participants.

 

(c)         Form and Timing of Payment of Restricted Share Units. At the time of grant, the Committee shall specify the date
or dates on which the Restricted Share Units shall become fully vested. Upon vesting, the Committee, in its sole discretion, may pay Restricted
Share Units in the form of cash, in Ordinary Shares or in a combination thereof.

 

(d)         Surrender/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon Termination of Service during
the applicable Restriction Period, Restricted Share Units that are at that time unvested shall be surrendered to the Company or repurchased
in accordance with the Award Agreement; provided, however, the Committee may (i) provide in any Restricted Share Unit Award Agreement
that restrictions or surrender and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the
event of terminations resulting from specified causes, and (ii) in other cases waive in whole or in part restrictions or surrender and
repurchase conditions relating to Restricted Share Units.

 

5.7          Maximum Individual Grants. No Participant may receive during any fiscal year of the Company Awards covering
an aggregate of more than one percent (1%) of the authorized Ordinary Shares.

 

Article
6

AWARD PERIOD; VESTING

 

6.1          Award Period.

 

(a)         Subject
to the other provisions of the Plan, the Committee shall specify in the Award Agreement the Award Period for a Share Option. No Share
Option granted under the Plan may be exercised at any time after the end of its Award Period. The Award Period for any Share Option shall
be no more than ten (10) years from the Date of Grant of the Share Option. However, if an Employee owns or is deemed to own (by reason
of the attribution rules of Section 424(d) of the Code) more than ten percent (10%) of the combined voting power of all classes of shares
of the Company (or any parent or Subsidiary of the Company) and an Incentive Share Option is granted to such Employee, the Award Period
of such Incentive Share Option (to the extent required by the Code at the time of grant) shall be no more than five (5) years from the
Date of Grant.

 

(b)         In the event of Termination of Service of a Participant, the Award Period for a Share Option shall be reduced or terminated
in accordance with the Award Agreement.

 

    	 	8	 

     

    

 

6.2          Vesting. The Committee, in its sole discretion, may determine that an Incentive will be immediately vested
in whole or in part, or that all or any portion may not be vested until a date, or dates, subsequent to its Date of Grant, or until the
occurrence of one or more specified events, subject in any case to the terms of the Plan. If the Committee imposes conditions upon vesting,
then, subsequent to the Date of Grant, the Committee may, in its sole discretion, accelerate the date on which all or any portion of the
Incentive may be vested.

 

Article
7

EXERCISE OF INCENTIVE

 

7.1          In General. The Committee, in its sole discretion, may determine that a Share Option will be immediately
exercisable, in whole or in part, or that all or any portion may not be exercised until a date, or dates, subsequent to its Date of Grant,
or until the occurrence of one or more specified events, subject in any case to the terms of the Plan. If a Share Option is exercisable
prior to the time it is vested, the Ordinary Shares obtained on the exercise of the Share Option shall be Restricted Shares which is subject
to the applicable provisions of the Plan and the Award Agreement. If the Committee imposes conditions upon exercise, then subsequent to
the Date of Grant, the Committee may, in its sole discretion, accelerate the date on which all or any portion of the Share Option may
be exercised. No Share Option may be exercised for a fractional Ordinary Share. The granting of a Share Option shall impose no obligation
upon the Participant to exercise that Share Option.

 

7.2          Securities Law and Exchange Restrictions. In no event may an Incentive be exercised or Ordinary Shares
be issued pursuant to an Award if a necessary listing or quotation of the Ordinary Shares on a stock exchange or inter-dealer quotation
system or any registration under state or federal securities laws required under the circumstances has not been accomplished.

 

7.3          Exercise of Share Option.

 

(a)         Notice
and Payment. Subject to such administrative regulations as the Committee may from time to time adopt, a Share Option may be exercised
by the delivery of written notice to the Committee setting forth the number of Ordinary Shares with respect to which the Share Option
is to be exercised and the date of exercise thereof (the “Exercise Date”), which shall be at least three (3)
days after giving such notice unless an earlier time shall have been mutually agreed upon.

 

On the Exercise Date, the
Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable
in any one of the following methods: (a) cash, check, bank draft, or money order payable to the order of the Company, (b) the surrender
of Ordinary Shares (including Restricted Shares) owned by the Participant on the Exercise Date, valued at their Fair Market Value on the
Exercise Date, and which the Participant has not acquired from the Company within six (6) months prior to the Exercise Date, (c) if the
Ordinary Shares are no longer Nonpublicly Traded, by delivery (including by FAX) to the Company or its designated agent of an executed
irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable
to the Company, to sell certain of the Ordinary Shares purchased upon exercise of the Share Option or to pledge such shares as collateral
for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price, and/or (d) in
any other form of valid consideration that is acceptable to the Committee in its sole discretion.

 

In the event that Restricted
Shares are tendered as consideration for the exercise of a Share Option, a number of Ordinary Shares issued upon the exercise of the Share
Option equal to the value of Restricted Shares used as consideration therefor shall be subject to the same restrictions and provisions
as the Restricted Shares so tendered.

 

    	 	9	 

     

    

 

The Committee may take all
actions necessary to alter the method of exercise of the Share Option and the exchange and transmittal of proceeds with respect to Participants
who are residents in the PRC in order to comply with applicable PRC foreign exchange and tax regulations and any other applicable PRC
laws and regulations.

 

(b)         Issuance of Certificate. Except as otherwise provided in Section 5.5 hereof (with respect to Restricted Shares)
or in the applicable Award Agreement, upon payment of all amounts due from the Participant, the Company shall cause certificates for the
Ordinary Shares then being purchased to be delivered as directed by the Participant (or the person exercising the Participant’s
Share Option in the event of his death) at its principal business office promptly after the Exercise Date; provided, that if the
Participant has exercised an Incentive Share Option, the Company may at its option retain physical possession of the certificate evidencing
the shares acquired upon exercise until the expiration of the holding periods described in Section 422(a)(1) of the Code.

 

The obligation of the Company
to deliver Ordinary Shares shall, however, be subject to the condition that, if at any time the Committee shall determine in its discretion
that the listing, registration, or qualification of the Share Option or the Ordinary Shares upon any securities exchange or inter-dealer
quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a
condition of, or in connection with, the Share Option or the issuance or purchase of Ordinary Shares thereunder, the Share Option may
not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or
obtained free of any conditions not reasonably acceptable to the Committee.

 

(c)         Failure to Pay. If the Participant fails to pay for any of the Ordinary Shares specified in the written notice
to the Committee specified in Section 7.3(a) of the Plan or fails to accept delivery thereof, the Participant’s Share Option and
right to purchase such Ordinary Shares shall be surrendered to the Company.

 

7.4          Disqualifying Disposition of Incentive Share Option. If Ordinary Shares acquired upon exercise of an Incentive
Share Option are disposed of by a Participant prior to the expiration of either two (2) years from the Date of Grant of such Share Option
or one (1) year from the transfer of Ordinary Shares to the Participant pursuant to the exercise of such Share Option, or in any other
disqualifying disposition within the meaning of Section 422 of the Code, such Participant shall notify the Company in writing of the date
and terms of such disposition. A disqualifying disposition by a Participant shall not affect the status of any other Share Option granted
under the Plan as an incentive stock option within the meaning of Section 422 of the Code.

 

Article
8

ADMINISTRATION

 

Subject to the terms of this
Article 8, the Plan shall be administered by the Sole Director or the Board as the case may be, or by such committee as is designated
herein to administer the Plan (the “Committee”).

 

The Committee shall consist
of Mingjun Lin, Xiaolei Gu, and Yi Yang. Any member of the Committee may be removed at any time, with or without cause, by resolution
of the Board. Any vacancy occurring in the membership of the Committee may be filled by appointment by the Board. At any time there is
no Committee to administer the Plan, any references in the Plan to the Committee shall be deemed to refer to the Sole Director or the
Board as the case may be at that time.

 

    	 	10	 

     

    

 

The Committee shall select
one of its members to act as its Chairman. A majority of the Committee shall constitute a quorum, and the act of a majority of the members
of the Committee present at a meeting at which a quorum is present shall be the act of the Committee.

 

The Committee shall determine
and designate from time to time the eligible persons to whom Awards will be granted and shall set forth in each related Award Agreement,
where applicable, the Award Period, the Date of Grant, and such other terms, provisions, limitations, and performance requirements, as
are approved by the Committee, but not inconsistent with the Plan. The Committee shall determine whether an Award shall include one type
of Incentive or two or more Incentives granted in combination. All decisions with respect to any Award, and the terms and conditions thereof,
to be granted under the Plan to any member of the Committee shall be made solely and exclusively by the other members of the Committee,
or if such member is the only member of the Committee, by the Board.

 

The Committee, in its discretion
and to the fullest extent permitted by law, shall (i) interpret the Plan, (ii) prescribe, amend, and rescind any rules and regulations
necessary or appropriate for the administration of the Plan, (iii) establish performance goals for an Award and certify the extent of
their achievement, (iv) make such other determinations or certifications and take such other action as it deems necessary or advisable
in the administration of the Plan and (v) implement any procedures or steps or additional or different requirements as may be necessary
to comply with any relevant laws of the PRC that may be applicable to the Plan, any Award pursuant to the Plan or any related documents,
including but not limited to foreign exchange laws, tax laws and securities laws of the PRC. Any interpretation, determination, or other
action made or taken by the Committee shall be final, binding, and conclusive on all interested parties.

 

The Committee may delegate
to officers of the Company, pursuant to a written delegation, the authority to perform specified functions under the Plan. Any actions
taken by any officers of the Company pursuant to such written delegation of authority shall be deemed to have been taken by the Committee.

 

Article
9

AMENDMENT OR DISCONTINUANCE

 

Subject to the limitations
set forth in this Article 9, the Board may at any time and from time to time, without the consent of the Participants, alter, amend, revise,
suspend, or discontinue the Plan in whole or in part; provided, however, that no amendment which requires shareholder approval
in order for the Plan and Incentives awarded under the Plan to continue to comply with Sections 421 and 422 of the Code, including any
successors to such Sections, shall be effective unless such amendment shall be approved by the requisite vote of the shareholders of the
Company entitled to vote thereon. Any such amendment shall, to the extent deemed necessary or advisable by the Committee, be applicable
to any outstanding Incentives theretofore granted under the Plan, notwithstanding any contrary provisions contained in any Award Agreement.
In the event of any such amendment to the Plan, the holder of any Incentive outstanding under the Plan shall, upon request of the Committee
and as a condition to the exercisability thereof, execute a conforming amendment in the form prescribed by the Committee to any Award
Agreement relating thereto. Notwithstanding anything contained in the Plan to the contrary, unless required by law, no action contemplated
or permitted by this Article 9 shall adversely affect any rights of Participants or obligations of the Company to Participants with respect
to any Incentive theretofore granted under the Plan without the consent of the affected Participant.

 

    	 	11	 

     

    

 

Article
10

TERM

 

The Plan shall be effective
from the date that the Plan is approved by the Board. Unless sooner terminated by action of the Board, the Plan will terminate on July
12, 2031, but Incentives granted before that date will continue to be effective in accordance with their terms and conditions.

 

Article
11

CAPITAL ADJUSTMENTS

 

In the event that the Committee
shall determine that any dividend or other distribution (whether in the form of cash, Ordinary Shares, other securities, or other property),
recapitalization, stock split, reverse stock split, rights offering, reorganization, merger, consolidation, split-up, spin-off, split-off,
combination, subdivision, repurchase, or exchange of Ordinary Shares or other securities of the Company, issuance of warrants or other
rights to purchase Ordinary Shares or other securities of the Company, or other similar corporate transaction or event (including a Change
of Control) affects the Ordinary Shares such that an adjustment is determined by the Committee to be appropriate to prevent the dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner
as it may deem equitable, adjust any or all of the (i) the number of shares and type of Ordinary Shares (or the securities or property)
which thereafter may be made the subject of Awards,(ii) the number of shares and type of Ordinary Shares (or other securities or property)
subject to outstanding Awards,(iii) the number of shares and type of Ordinary Shares (or other securities or property) specified as the
annual per-participant limitation under Section 6.6 of the Plan, (iv) the number of shares and type of Ordinary Shares (or other securities
or property) specified as the annual per-participant limitation under Section 6.6 of the Plan, (v) the Option Price of each outstanding
Award, and (vi) the amount, if any, the Company pays for Ordinary Shares surrendered to the Company in accordance with Section 6.5; provided,
however, that the number of Ordinary Shares (or other securities or property) subject to any Award shall always be a whole number.
In lieu of the foregoing, if deemed appropriate, the Committee may make provision for a cash payment to the holder of an outstanding Award.

 

Notwithstanding the foregoing,
no such adjustment or cash payment shall be made or authorized to the extent that such adjustment or cash payment would cause the Plan
or any Share Option to violate Section 422 of the Code. Such adjustments shall be made in accordance with the rules of any securities
exchange, stock market, or stock quotation system to which the Company is subject.

 

Upon the occurrence of any
such adjustment or cash payment, the Company shall provide notice to each affected Participant of its computation of such adjustment or
cash payment which shall be conclusive and shall be binding upon each such Participant.

 

Article
12

RECAPITALIZATION, MERGER AND CONSOLIDATION

 

12.1        No Effect on Company’s Authority. The existence of the Plan and Incentives granted hereunder shall
not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations,
reorganizations, or other changes in the Company’s capital structure and its business, or any merger or consolidation of the Company,
or any issuance of bonds, debentures, preferred or preference shares ranking prior to or otherwise affecting the Ordinary Shares or the
rights thereof (or any rights, options, or warrants to purchase the same), or the dissolution or liquidation of the Company, or any sale
or transfer of all or any part of its assets or business, or any other corporate act or proceeding (including a Change of Control), whether
of a similar character or otherwise.

 

    	 	12	 

     

    

 

12.2        Conversion
of Incentives Where Company Survives. Subject to any required action by the shareholders, if the Company shall be the surviving
or resulting corporation (or company) in any merger, consolidation, share exchange or assets sale or transfer that constitutes a material
event, any Incentives granted under the Plan shall be deemed vested immediately, and shall pertain to and apply to the securities or
rights (including cash, property, or assets) to which a holder of the number of Ordinary Shares subject to the Incentives would have
been entitled.

 

12.3        Exchange
or Cancellation of Incentives Where Company Does Not Survive. In the event of any merger, consolidation, share exchange, or
Change of Control pursuant to which the Company is not the surviving or resulting corporation (or company), any Incentives granted under
the Plan shall be deemed vested immediately, and there shall be substituted for each Ordinary Share subject to the unexercised portions
of outstanding Share Options, that number of shares of each class of shares or other securities or that amount of cash, property, or
assets of the surviving, resulting or consolidated corporation (or company) which were distributed or distributable to the shareholders
of the Company in respect to each Ordinary Share held by them, such outstanding Share Options to be thereafter exercisable for such shares,
securities, cash, or property in accordance with their terms.

 

Notwithstanding the foregoing,
however, all Share Options may be canceled by the Company as of the effective date of any such reorganization, merger, consolidation,
share exchange, or Change of Control, or any dissolution or liquidation of the Company, by giving notice to each holder (or such holder’s
personal representative) thereof of its intention to do so and by permitting the purchase during the thirty (30) day period preceding
such effective date of all of the Ordinary Shares (whether or not vested) subject to such outstanding Share Options.

 

Article
13

LIQUIDATION OR DISSOLUTION

 

Subject to Section 12.3 hereof,
in case the Company shall, at any time while any Incentive under the Plan shall be in force and remain unexpired, (i) sell all or substantially
all of its property, or (ii) dissolve, liquidate, or wind up its affairs, then each Participant shall be entitled to receive, in lieu
of each Ordinary Share such Participant would have been entitled to receive under the Incentive, the same kind and amount of any securities
or assets as may be issuable, distributable, or payable upon any such sale, dissolution, liquidation, or winding up with respect to each
Ordinary Share.

 

If the Company shall, at any
time prior to the expiration of any Incentive, make any partial distribution of its assets, in the nature of a partial liquidation, whether
payable in cash or in kind (but excluding the distribution of a cash dividend payable out of earned surplus and designated as such) then
in such event the Option Prices then in effect with respect to each Share Option shall be reduced, on the payment date of such distribution,
in proportion to the percentage reduction in the tangible book value of the Ordinary Shares (determined in accordance with generally accepted
accounting principles) resulting by reason of such distribution.

 

Article
14

INCENTIVES IN SUBSTITUTION FOR INCENTIVES GRANTED BY OTHER ENTITIES

 

Incentives may be granted
under the Plan from time to time in substitution for similar instruments held by employees or directors of a corporation, partnership,
company, or limited liability company who become or are about to become Employees or Outside Directors as a result of a merger or consolidation
of the employing corporation (or company) with the Company, the acquisition by the Company of equity of the employing entity, or any other
similar transaction (including a Change of Control) pursuant to which the Company becomes the successor employer. The terms and conditions
of the substitute Incentives so granted may vary from the terms and conditions set forth in the Plan to such extent as the Committee at
the time of grant may deem appropriate to conform, in whole or in part, to the provisions of the Incentives in substitution for which
they are granted.

 

    	 	13	 

     

    

 

Article
15

MISCELLANEOUS PROVISIONS

 

15.1        Investment Intent. The Company may require that there be presented to and filed with it by any Participant
under the Plan, such evidence as it may deem necessary to establish that the Incentives granted or the Ordinary Shares to be purchased
or transferred are being acquired for investment and not with a view to their distribution.

 

15.2        Nonpublicly
Traded Ordinary Shares. In the event a Participant receives, as Restricted Shares or pursuant to the exercise of a Share Option,
Ordinary Shares that are Nonpublicly Traded (as defined herein), without prejudice to Section 6.5(b)(i) of the Plan, the Committee may
impose restrictions and conditions on the transfer or other disposition of those shares. The restrictions and conditions may be reflected
in the Award Agreement or in a separate shareholders’ agreement.

 

15.3        No
Right to Continued Employment. Neither the Plan nor any Incentive granted under the Plan shall confer upon any Participant
any right with respect to continuance of employment by the Company or any Subsidiary of the Company.

 

15.4        Indemnification
of Board and Committee. No member of the Board or the Committee, nor any officer or Employee of the Company acting on behalf
of the Board or the Committee, shall be personally liable for any action, determination, or interpretation taken or made in good faith
with respect to the Plan, and all members of the Board and the Committee, each officer of the Company, and each Employee acting on behalf
of the Board or the Committee shall, to the extent permitted by law, be fully indemnified and protected by the Company in respect of
any such action, determination, or interpretation.

 

15.5        Effect
of the Plan. Neither the adoption of the Plan nor any action of the Board or the Committee shall be deemed to give any person
any right to be granted an Award or any other rights except as may be evidenced by an Award Agreement, or any amendment thereto, duly
authorized by the Committee and executed on behalf of the Company, and then only to the extent and upon the terms and conditions expressly
set forth therein.

 

15.6        Governing
Law. The Plan shall be governed by and construed in accordance with laws of the Cayman Islands, without giving effect to conflicts
of law principles.

 

15.7        Compliance
with Other Laws and Regulations. Notwithstanding anything contained herein to the contrary, the Company shall not be required
to sell or issue Ordinary Shares under any Incentive if the issuance thereof would constitute a violation by the Participant or the Company
of any provisions of any law or regulation of any governmental authority or any national securities exchange or inter-dealer quotation
system or other forum in which Ordinary Shares are quoted or traded; and, as a condition of any sale or issuance of Ordinary Shares under
an Incentive, the Committee may require such agreements or undertakings, if any, as the Committee may deem necessary or advisable to
assure compliance with any such law or regulation. The Plan, the grant and exercise of Incentives hereunder, and the obligation of the
Company to sell and deliver Ordinary Shares, shall be subject to all applicable federal and state laws, rules and regulations and to
such approvals by any government or regulatory agency as may be required.

 

    	 	14	 

     

    

 

15.8        Lock-up
Agreement. The Company may require that an Award Agreement include a provision requiring a Participant to agree that in connection
with an underwritten public offering of Ordinary Shares, upon the request of the Company or the principal underwriter managing such public
offering, no Ordinary Shares received by the Participant under such Award Agreement may be sold, offered for sale or otherwise disposed
of without the prior written consent of the Company or such underwriter, as the case may be, for one hundred eighty (180) days after
the effectiveness of the registration statement filed in connection with such offering, or such longer period of time as the Board may
determine, if all of the Company’s directors and officers agree to be similarly bound. The obligations under this Section 15.8
shall remain effective for all underwritten public offerings with respect to which the Company has filed a registration statement on
or before the date five (5) years after the closing of the Company’s initial public offering, provided, however, that this
Section 15.8 shall cease to apply to any such Ordinary Shares sold to the public pursuant to an effective registration statement or an
exemption from the registration requirements of the United States Securities Act of 1933 in a transaction that complied with the terms
of the applicable Award Agreement.

 

15.9        Tax
Requirements. The Company shall have the right to deduct from all amounts hereunder paid in cash or other form, any federal,
state, or local taxes required by law (including taxes in the PRC where applicable) to be withheld with respect to such payments. The
Participant receiving Ordinary Shares issued under the Plan shall be required to pay the Company the amount of any taxes which the Company
is required to withhold with respect to such Ordinary Shares (including the sale of Ordinary Shares as may be required to comply with
foreign exchange rules in the PRC for Participants resident in the PRC).

 

Notwithstanding the foregoing,
in the event of an assignment of a Nonqualified Share Option pursuant to Section 15.10, the Participant who assigns the Nonqualified Share
Option shall remain subject to withholding taxes upon exercise of the Nonqualified Share Option by the transferee to the extent required
by the Code or the rules and regulations promulgated thereunder.

 

Such payments shall be required
to be made prior to the delivery of any certificate representing such Ordinary Shares. Such payment may be made (i) by the delivery of
cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional shares under (iii) below) the required tax
withholding obligation of the Company; (ii) the actual delivery by the exercising Participant to the Company of Ordinary Shares that the
Participant has not acquired from the Company within six (6) months prior to the date of exercise, which shares so delivered have an aggregate
Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under (iii) below) the required tax withholding payment;
(iii) the Company’s withholding of a number of shares to be delivered upon the exercise of the Share Option, which shares so withheld
have an aggregate Fair Market Value that equals (but does not exceed) the required tax withholding payment; or (iv) any combination of
(i), (ii), or (iii).

 

15.10      No
Transferability; Limited Exception to Transfer Restrictions.

 

(a)           Limits on Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 15.10, by applicable
law and by the Award Agreement, as the same may be amended:

 

(i)          all
Awards are nontransferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance
or charge;

 

(ii)         Awards will be exercised only by the Participant; and

 

(iii)       amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the
case of Ordinary Shares, registered in the name of, the Participant.

 

    	 	15	 

     

    

 

In addition, the Ordinary
Shares shall be subject to the restrictions set forth in the applicable Award Agreement.

 

(b)           Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 15.10(a) will not apply to:

 

(i)           transfers
to the Company or a Subsidiary of the Company;

 

(ii)         the
designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by
the Participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent
and distribution; or

 

(iii)        if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s
duly authorized legal representative; or

 

(iv)         subject
to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer, by gift
or other means, to one or more natural persons who are the Participant’s Immediate Family or entities owned and controlled by the
Participant and/or the Participant’s Immediate Family, including but not limited to trusts or other entities whose beneficiaries
or beneficial owners are the Participant and/or the Participant’s Immediate Family, or to such other persons or entities as may
be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee may establish. Any permitted transfer
shall be subject to the condition that the Committee receives evidence satisfactory to it that the transfer is being made for estate
and/or tax planning purposes and on a basis consistent with the Company’s lawful issue of securities.

 

Notwithstanding anything else
in this Section 15.10(b) to the contrary, but subject to compliance with all applicable laws, Incentive Share Options, Restricted Shares
and Restricted Share Units will be subject to any and all transfer restrictions under the Code applicable to such Awards or necessary
to maintain the intended tax consequences of such Awards.

 

15.11      Use
of Proceeds. Proceeds from the sale of Ordinary Shares pursuant to Incentives granted under the Plan shall constitute general
funds of the Company.

 

15.12      Legend.
Each certificate representing Restricted Shares issued to a Participant shall bear the following legend, or a similar legend
deemed by the Company to constitute an appropriate notice of the provisions hereof (any such certificate not having such legend shall
be surrendered upon demand by the Company and so endorsed):

 

On the face of the certificate:

 

“Transfer of these
shares is restricted in accordance with conditions printed on the reverse of this certificate.”

 

On the reverse:

 

“The shares evidenced
by this certificate are subject to and transferrable only in accordance with that certain Kaixin Auto Holdings 2022 Equity Incentive Plan,
a copy of which is on file at the principal office of the Company. No transfer or pledge of the shares evidenced hereby may be made except
in accordance with and subject to the provisions of said Plan. By acceptance of this certificate, any holder, transferee or pledgee hereof
agrees to be bound by all of the provisions of said Plan.”

 

    	 	16	 

     

    

 

The following legend shall
be inserted on a certificate evidencing Ordinary Shares issued under the Plan if the shares were not issued in a transaction registered
under the applicable federal and state securities laws:

 

“Shares represented
by this certificate have been acquired by the holder for investment and not for resale, transfer or distribution, have been issued pursuant
to exemptions from the registration requirements of applicable state and federal securities laws, and may not be offered for sale, sold
or transferred other than pursuant to effective registration under such laws, or in transactions otherwise in compliance with such laws,
and upon evidence satisfactory to the Company of compliance with such laws, as to which the Company may rely upon an opinion of counsel
satisfactory to the Company.”

 

A
copy of the Plan shall be kept on file in the principal office of the Company.

 

***************

 

WHEREOF,
the Company has caused this instrument to be executed as of May 27, 2022 by a director.

 

  

	 	Kaixin
    Auto Holdings
	 	 
	 	By:	/s/
    Mingjun Lin
	 	Name:
                                            Mingjun Lin

	 	Chairman
                                            of the Board

 

    17

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