Document:

Exhibit 10.1

 

Exchange Agreement

 

May 18, 2022

 

Arch Resources, Inc.

CityPlace One

One CityPlace Drive

Suite 300

St. Louis, Missouri 63141

 

		Re:	Arch Resources, Inc.’s Exchange of 5.25% Convertible Senior Notes due 2025

 

Ladies and Gentlemen:

 

The undersigned investor (the
 “Investor”), for itself and, if applicable, on behalf of the beneficial owners listed on Exhibit A hereto (the
 “Accounts”) for whom the Investor holds contractual and investment authority (each, including the Investor if it is
a party exchanging Old Notes (as defined below), an “Exchanging Investor”) hereby agrees to exchange (the “Exchange”),
with Arch Resources, Inc., a Delaware corporation (the “Company”), the Company’s 5.25% Convertible Senior Notes
due 2025, CUSIP 039389AB7 (the “Old Notes”) set forth in Exhibit A hereto for cash and shares (the “Exchange
Shares”) of the Company’s Class A common stock, $0.01 par value per share, CUSIP 03940R107 (the “Common Stock”),
in the amounts set forth in and pursuant to the terms and conditions of this Exchange Agreement. The Old Notes were issued pursuant to
that certain Indenture (the “Existing Indenture”), dated as of November 3, 2020, between the Company, as issuer, and
UMB Bank, National Association, as trustee (in such capacity, the “Old Notes Trustee”). For the avoidance of doubt,
the term “Existing Indenture” will not include any amendments or supplements executed after the date hereof unless
such amendment or supplement was consented to by the Exchanging Investor. If only one Exchanging Investor is identified in Exhibit
A hereto, then each reference in this Exchange Agreement to “Exchanging Investors” will be deemed to be a reference to
such Exchanging Investor identified in Exhibit A hereto, mutatis mutandis.

 

The Investor understands that
the Exchange is being made without registration under the Securities Act of 1933, as amended (the “Securities Act”),
or any securities laws of any state of the United States or of any other jurisdiction, and the Exchange Shares are only being offered
to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in reliance on a private placement
exemption from registration under the Securities Act.

 

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1.                 
Agreement to Exchange; Exchange Consideration. Subject to the terms and conditions of this Exchange Agreement, the Investor
hereby agrees to exchange, and to cause each other Exchanging Investor, if any, to exchange, an aggregate principal amount of the Old
Notes set forth on Exhibit A hereto that it beneficially owns for consideration consisting of the following per $1,000 principal
amount of such Old Notes: (A) cash (the “Cash Consideration”) in an amount equal to the sum of (i) $1,000, (ii) accrued
and unpaid interest that will have accrued on each $1,000 principal amount of such Old Notes from, and including, May 15, 2022, to, but
excluding, the Closing Date (as defined below), with the amount of such interest calculated in accordance with the Existing Indenture,
(iii) cash payable in lieu of delivering any fractional share, as provided in the proviso to clause (B) below and (iv): $37.50; and (B)
a number of Exchange Shares, if any, per $1,000 principal amount of such Old Notes to be exchanged equal to the sum of the Daily Share
Amount (as defined below) for each VWAP Trading Day (as defined below) of the Observation Period (as defined below); provided,
however, that if the aggregate number of Exchange Shares deliverable to any Exchanging Investor pursuant to this clause (B) is
not a whole number, then, in lieu of issuing any fractional share of Common Stock, the Company will deliver to such Exchanging Investor
a cash amount equal to the product of the related fraction and the Daily VWAP (as defined below) on the last VWAP Trading Day of the Observation
Period (the Exchange Shares deliverable pursuant to this clause (B) together with the Cash Consideration deliverable pursuant to clause
(A) above, the “Exchange Consideration”).

 

“Business Day”
means any day other than a Saturday, a Sunday or any day on which the Federal Reserve Bank of New York is authorized or required by law
or executive order to close or be closed.

 

“Daily Exchange Value”
means, with respect to any VWAP Trading Day, one-fourth of the product of (A) 26.9354; and (B) the Daily VWAP per share of Common Stock
on such VWAP Trading Day.

 

“Daily Share Amount”
means, with respect to any VWAP Trading Day, the quotient obtained by dividing (A) the excess, if any, of the Daily Exchange Value for
such VWAP Trading Day over $250 by (B) the Daily VWAP for such VWAP Trading Day. For the avoidance of doubt, the Daily Share Amount will
be zero for such VWAP Trading Day if such Daily Exchange Value does not exceed $250.

 

“Daily VWAP”
means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg
VWAP” on Bloomberg page “ARCH <EQUITY> AQR” (or, if such page is not available, its equivalent successor page)
in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such
VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such VWAP
Trading Day, determined, using a volume-weighted average price method, by a nationally recognized independent investment banking firm
selected by the Company). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the
regular trading session.

 

“Observation Period”
means the four consecutive VWAP Trading Days beginning on, and including, the VWAP Trading Day immediately after the date of this Exchange
Agreement.

 

“VWAP Market Disruption
Event” means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which
the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal
other market on which the Common Stock is then traded, to open for trading during its regular trading session on such date; or (B) the
occurrence or existence, for more than one half hour period in the aggregate, of any suspension or limitation imposed on trading (by reason
of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options, contracts
or futures contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New
York City time, on such date.

 

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“VWAP Trading Day”
means a day on which (A) there is no VWAP Market Disruption Event; and (B) trading in the Common Stock generally occurs on the principal
U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a
U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded. If the Common Stock
is not so listed or traded, then “VWAP Trading Day” means a Business Day.

 

The Exchange will occur in
accordance with the procedures set forth in Section 3 hereof.

 

2.                 
The Closing. The closing of the Exchange (the “Closing”) will take place virtually or at the offices
of Latham & Watkins LLP, 1271 Avenue of the Americas, New York, NY 10020, in each case at 10:00 a.m., New York City time, on the latest
of (A) the Business Day immediately after the last VWAP Trading Day of the Observation Period; (B) such date as the conditions to Closing
set forth in Section 6 are satisfied or waived; and (C) such other time and place as the Company and the Investor may agree (such later
date, the “Closing Date”). If the Closing Date has not occurred by 10:00 a.m. New York City time on May 31, 2022, then
either the Investor or the Company, by written notice to the other, may terminate this Exchange Agreement.

 

3.                 
Exchange. Subject to the terms and conditions of this Exchange Agreement and effective upon the Closing, the Investor hereby,
for itself and on behalf of each Exchanging Investor, sells, assigns and transfers to, or upon the order of, the Company, all right, title
and interest in such portion of the Old Notes as indicated on Exhibit A hereto, waives any and all other rights with respect to
such Old Notes and the Existing Indenture and releases and discharges the Company from any and all claims the Investor and the Accounts
may now have, or may have in the future, arising out of, or related to, such Old Notes, including, without limitation, any claims arising
from any existing or past defaults under the Existing Indenture, or any claims that the Investor or any Exchanging Investor is entitled
to receive additional interest with respect to the Old Notes. If the Old Notes of an Exchanging Investor are received by the Company but
the Exchange Shares issuable to such Exchanging Investor pursuant hereto are not issued to such Exchanging Investor by 5:00 p.m. New York
City time on May 31, 2022 and such Exchange Shares are not entitled to the that certain dividend, previously declared by the Company,
of $8.11 per share of Common Stock payable on June 15, 2022 on shares of Common Stock held of record as of May 31, 2022, then, on or before
June 15, 2022, the Company will pay to such Exchanging Holder (in addition to the Cash Consideration and in the same manner in which the
Cash Consideration is payable pursuant to the provisions below) a cash amount of $8.11 per Exchange Share issued to such Exchanging Investor
pursuant hereto.

 

At or prior to 9:30 a.m.,
New York City time, on the Closing Date, the Investor agrees to direct the eligible participant of The Depository Trust Company (“DTC”)
through which each Exchanging Investor holds a beneficial interest in the Old Notes to submit a withdrawal instruction through DTC’s
Deposits and Withdrawal at Custodian (“DWAC”) program to the Old Notes Trustee, for the aggregate principal amount
of the Old Notes to be exchanged pursuant to this Exchange Agreement (the “DWAC Withdrawal”).

 

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DTC will act as securities
depositary for the Exchange Shares. At or prior to 9:30 a.m. New York City time on the Closing Date, the Investor agrees to direct an
eligible DTC participant to submit a deposit instruction (the “Exchange Shares DWAC Deposit”) through DTC’s DWAC
program to American Stock Transfer & Trust Company, LLC, as DTC custodian for the Common Stock (the “Transfer Agent”),
for the aggregate number of Exchange Shares that it is entitled to receive pursuant to this Exchange Agreement, or comply with such other
settlement procedures mutually agreed in writing by the Investor and the Company. The Exchange Consideration will not be delivered until
a valid DWAC Withdrawal of the Old Notes has been received and accepted by the Old Notes Trustee. If the Closing does not occur, any Old
Notes submitted for DWAC Withdrawal will be returned to the DTC participant that submitted the withdrawal instruction in accordance with
the procedures of DTC. The Investor acknowledges that each of the DWAC Withdrawal and the Exchange Shares DWAC Deposit must be posted
on the Closing Date and that if it is posted before the Closing Date, then it will expire unaccepted and must be resubmitted on the Closing
Date.

 

For the convenience of each
Exchanging Investor, attached hereto as Exhibit B is a summary of the delivery instructions that must be followed to settle the
Exchange through DTC.

 

The Investor acknowledges
and understands that other investors are participating in similar exchanges, each of which contemplates a DWAC Withdrawal and an Exchange
Shares DWAC Deposit. The Company intends to complete the Exchange Shares DWAC Deposit concurrently for all investors who have submitted
valid DWAC Withdrawals and Exchange Shares DWAC Deposits by the deadline above. In the event that the Investor complies with the deadline
above for the DWAC Withdrawal and other investors do not, the Company will use its commercially reasonable efforts to ensure that the
Exchange Shares are delivered to the Investor pursuant to the Exchange Shares DWAC Deposit on the Closing Date. However, in the event
that such Exchange Shares are not delivered on the Closing Date, the Company will use its reasonable best efforts to ensure that the same
will be delivered on the Business Day immediately following the Closing Date or as soon as reasonably practicable thereafter and such
a delay will not be a default under this Exchange Agreement so long as (i) the Investor, the Exchanging Investor and/or the Company is
using its reasonable best efforts to effect such delivery, (ii) such delay is no longer than three Business Days following the Closing
Date, and (iii) unless the Cash Consideration has been paid, interest will continue to accrue on such Old Notes.

 

On the Closing Date, subject
to satisfaction of the conditions precedent specified in this Exchange Agreement, and the prior receipt of a valid DWAC Withdrawal conforming
with the aggregate principal amount of the Old Notes to be exchanged by each Exchanging Investor and a valid Exchange Shares DWAC Deposit
conforming with the aggregate number of Exchange Shares to be issued to such Exchanging Investor in the Exchange, the Company hereby agrees
to (1) pay the applicable Cash Consideration to such Exchanging Investor by wire transfer in immediately available funds to the account
in the United States of such Exchanging Investor set forth in Exhibit A to this Exchange Agreement and (2) deliver, by acceptance
of such Exchange Shares DWAC Deposit, such Exchange Shares (or comply with such other settlement procedures mutually agreed in writing
by the Company and such Exchanging Investor) to the DTC account of such Exchanging Investor specified on Exhibit A to this Exchange
Agreement.

 

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If (x) the Old Notes Trustee
is unable to locate the DWAC Withdrawal or (y) the Transfer Agent is unable to locate the Exchange Shares DWAC Deposit or (z) such DWAC
Withdrawal does not conform to the Old Notes to be exchanged in the Exchange or such Exchange Shares DWAC Deposit does not conform to
the Exchange Shares to be issued in the Exchange, then the Company will promptly notify the Investor in writing. If, because of the occurrence
of an event described in clause (x), (y) or (z) of the preceding sentence, the Cash Consideration is not paid or the Exchange Shares are
not delivered on the Closing Date, then such Cash Consideration or Exchange Shares, as applicable, will be paid or delivered, as applicable,
on the first Business Day following the Closing Date (or as soon as reasonably practicable thereafter) on which all applicable conditions
set forth in clauses (x), (y) or (z) of the first sentence of this paragraph have been cured.

 

All questions as to the form
of all documents and the validity and acceptance of the Old Notes will be determined by the Company, acting in good faith and a commercially
reasonable manner.

 

All authority herein conferred
or agreed to be conferred in this Exchange Agreement will survive the dissolution of the Investor, and any representation, warranty, undertaking
and obligation of the Investor hereunder will be binding upon the trustees in bankruptcy, legal representatives, successors and assigns
of the Investor.

 

4.                 
Representations, Warranties and Covenants of the Company. The Company represents and warrants to the Exchanging Investors
and covenants that:

 

(a)              
The Company is duly formed, validly existing and in good standing under the laws of the State of Delaware, with full power and
authority to conduct its business as it is currently being conducted and to own its assets. The Company has full power and authority to
consummate the Exchange and to enter into this Exchange Agreement and perform all of its obligations hereunder.

 

(b)              
The Exchange Shares, when issued and delivered in exchange for the Old Notes in the manner set forth in this Exchange Agreement,
will be validly issued, fully paid and non-assessable, and free and clear of all mortgages, liens, pledges, charges, security interests,
encumbrances, title retention agreements, options, preemptive rights, equity or other adverse claims thereto (collectively, “Liens”)
created by the Company.

 

(c)              
The Exchange and the other transactions contemplated thereby will not (A) contravene any law, rule or regulation binding on the
Company or any subsidiary thereof or any judgment or order of any court or arbitrator or governmental or regulatory authority applicable
to the Company or any such subsidiary, (B) constitute a breach or violation or result in a default under any loan agreement, mortgage,
lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it is bound or (C) constitute
a breach or violation or result in a default under the organizational documents of the Company or any subsidiary thereof, except, in the
case of clauses (A) and (B) above, for such contraventions, conflicts, violations or defaults that would not, individually or in the aggregate,
reasonably be expected to adversely effect in any material respect the business, properties, management, financial position, stockholders’
equity or results of operations of the Company and its subsidiaries taken as a whole or to materially impair the performance by the Company
of its obligations under this Exchange Agreement.

 

    - 5 -

     

    

 

(d)              
No consent, approval, authorization, order, license, registration or qualification of or with any court or governmental or regulatory
authority is required for the execution, delivery and performance by the Company of its obligations under this Exchange Agreement and
the consummation of the transactions contemplated by this Exchange Agreement, except such as have been obtained or made (or will, at the
Closing, have been obtained or made) by the Company.

 

(e)              
This Exchange Agreement has been duly authorized, executed and delivered by the Company.

 

(f)               
At or before the Closing, the Company will have submitted to the New York Stock Exchange a Supplemental Listing Application with
respect to the Exchange Shares and will have received an executed counterpart thereto from the New York Stock Exchange. The Company will
use its commercially reasonable efforts to maintain the listing of the Exchange Shares on the New York Stock Exchange for so long as the
Common Stock is then so listed.

 

(g)              
Assuming the accuracy of the representations and warranties of the Investor, made on behalf of itself and the Exchanging Investors,
(A) the issuance of the Exchange Shares in exchange for the Old Notes pursuant to this Exchange Agreement is exempt from the registration
requirements of the Securities Act; and (B) when issued pursuant to this Exchange Agreement, the Exchange Shares will be freely transferable
without restrictions as to volume and manner of sale pursuant to Rule 144 under the Securities Act. When issued pursuant to this Exchange
Agreement, the Exchange Shares will be issued with an “unrestricted” CUSIP number and will not be subject to any restriction
on transfer, nor will they contain any restrictive legend, imposed by the Company or under the Securities Act by persons who are not,
and who have not been at any time during the preceding three months, an “affiliate” of the Company within the meaning of Rule
144 under the Securities Act.

 

(h)              
The Company is not and, after giving effect to the transactions contemplated by this Exchange Agreement, will not be required to
register as an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and
regulations of the Securities and Exchange Commission (“SEC”) thereunder.

 

(i)                
The Covered SEC Filings (as defined below), taken as a whole, do not include an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading. As used herein, “Covered SEC Filings” means each of the following documents, in the form they have
been filed with the SEC and including any amendments thereto filed with the SEC: (w) the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2021; (x) the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31,
2022; (y) those portions of the Company’s Definitive Proxy Statement on Schedule 14A that are incorporated by reference into the
Annual Report referred to in clause (w) above; and (z) the Company’s Current Reports on Form 8-K (excluding any Current Reports
or portions thereof that are furnished, and not filed, pursuant to Item 2.02 or Item 7.01 of Form 8-K, and any related exhibits) filed
with the SEC after December 31, 2021.

 

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(j)                
The Company understands that, unless the Company notifies the Investor in writing to the contrary at or before the Closing, each
of the Company’s representations and warranties contained in this Exchange Agreement will be deemed to have been reaffirmed and
confirmed as of the Closing, taking into account all information received by the Company.

 

(k)              
Without the prior written consent of the Investor (unless such disclosure is required by applicable law, rule, regulation or legal
process based on advice of counsel), the Company will not disclose the name of, or otherwise identify, the Investor or any Exchanging
Investor in any filing or announcement nor any information regarding the Investor’s holdings of securities of the Company or transactions
in any securities of the Company at one of its prime brokers to any of the Investor’s other prime brokers or to any other person
(other than the Company’s counsel, agents or representatives).

 

5.                 
Representations and Warranties of the Investor. The Investor hereby, for itself and on behalf of each Exchanging Investor,
represents and warrants to and covenants with the Company that:

 

(a)              
The Investor, for itself and on behalf of each Exchanging Investor, has full power and authority to exchange, sell, assign and
transfer the Old Notes to be exchanged hereby and to enter into this Exchange Agreement and perform all obligations required to be performed
by the Investor or such Exchanging Investor hereunder.

 

(b)              
Each of the Exchanging Investors is and, immediately before the Closing, will be the beneficial owner of the Old Notes set forth
on Exhibit A. Neither the Investor nor any other Exchanging Investor is, as of the date of this Exchange Agreement, or, at the
Closing, will be, and, at no time during the three months preceding the date of this Exchange Agreement or preceding the Closing, was
or will any of them be, a “person” that is an “affiliate” of the Company (as such terms are defined in Rule 144
under the Securities Act). A holding period of at least one year has elapsed since the Old Notes were acquired from the Company or a “person”
known by the Investor to be an “affiliate” of the Company.

 

(c)              
When the Old Notes are exchanged pursuant to this Exchange Agreement, the Company will acquire good, marketable and unencumbered
title to the Old Notes, free and clear of all Liens created by the Investor or any of the Exchanging Investors.

 

(d)              
The Exchange will not (A) contravene any law, rule or regulation binding on the Investor or any of the Exchanging Investors or
any investment guideline or restriction applicable to the Investor or any of the Exchanging Investors, or (B) constitute a breach or violation
or result in a default any material loan agreement, mortgage, lease or other agreement or instrument to which the Investor or any Exchanging
Investor is a party or by which it is bound, or (C) constitute a breach or violation or result in a default under the organizational documents
of the Investor or any Exchanging Investor, except, in the case of clauses (A) and (B) above, for such contraventions, conflicts, violations
or defaults that would not materially impair the performance by the Investor or any Exchanging Investor of its obligations under this
Exchange Agreement.

 

(e)              
The Investor and each Exchanging Investor is a resident of the jurisdiction set forth on Exhibit A attached to the Exchange
Agreement.

 

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(f)               
The Investor and each Exchanging Investor will comply with all applicable laws and regulations in effect in any jurisdiction in
which the Investor or any of the Exchanging Investors acquires any Exchange Shares pursuant to the Exchange and will obtain any consent,
approval or permission required for such purchases, acquisitions or sales under the laws and regulations of any jurisdiction to which
the Investor or any of the Exchanging Investors is subject or in which the Investor or any Exchanging Investor acquires any Exchange Shares
pursuant to the Exchange.

 

(g)              
The Investor and each Exchanging Investor acknowledges that no person has been authorized to give any information or to make any
representation concerning the Company or the Exchange other than as contained in this Exchange Agreement and the Covered SEC Filings.
The Company takes no responsibility for, and provides no assurance as to the reliability of, any other information that others may provide
to the Investor or any Exchanging Investor.

 

(h)              
The Investor and each Exchanging Investor understands and accepts that the Exchange Shares to be acquired in the Exchange involve
risks. Each of the Investor and the Exchanging Investors has such knowledge, skill and experience in business, financial and investment
matters that such person is capable of evaluating the merits and risks of the Exchange and an investment in the Exchange Shares. With
the assistance of each Exchanging Investor’s own professional advisors, to the extent that the Exchanging Investor has deemed appropriate,
each Exchanging Investor has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in
the Exchange Shares and the consequences of the Exchange and this Exchange Agreement. Each Exchanging Investor has considered the suitability
of the Exchange Shares as an investment in light of its own circumstances and financial condition, and each of the Investor and the Exchanging
Investor is able to bear the risks associated with an investment in the Exchange Shares.

 

(i)                
The Investor confirms that it and each Exchanging Investor is not relying on any statement (written or oral), representation or
warranty made by, or on behalf of, the Company, Jefferies LLC (“Jefferies”) or any of their respective affiliates as
investment, tax or other advice or as a recommendation to participate in the Exchange and receive the Exchange Consideration in exchange
for Old Notes. Neither the Company, Jefferies nor any of their respective affiliates is acting or has acted as an advisor to the Investor
or any Exchanging Investor in deciding whether to participate in the Exchange and to exchange Old Notes for the Exchange Consideration.

 

(j)                
The Investor confirms that none of the Company, Jefferies or any of their respective affiliates have (A) given any guarantee or
representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise)
of an investment in the Exchange Shares; or (B) made any representation to the Investor or any Exchanging Investor regarding the legality
of an investment in the Exchange Shares under applicable investment guidelines, laws or regulations. In deciding to participate in the
Exchange, each of the Investor and the Exchanging Investors is not relying on the advice or recommendations of the Company or Jefferies,
or their respective affiliates, and has made its own independent decision that the terms of the Exchange and the investment in the Exchange
Shares are suitable and appropriate for it.

 

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(k)              
Each of the Investor and the Exchanging Investors is familiar with the business and financial condition and operations of the Company
and has had the opportunity to conduct its own investigation of the Company and the Exchange Shares. Each of the Investor and the Exchanging
Investors has had access to and has had the opportunity to review the Covered SEC Filings and such other information concerning the Company
and the Exchange Shares it deems necessary to enable it to make an informed investment decision concerning the Exchange. Each of the Investor
and the Exchanging Investors has been offered the opportunity to ask questions of the Company and received answers thereto, as it deems
necessary to enable it to make an informed investment decision concerning the Exchange.

 

(l)                
Each of the Investor and the Exchanging Investors understands that no federal or state agency has passed upon the merits or risks
of an investment in the Exchange Shares or made any recommendation or endorsement, or made any finding or determination concerning the
fairness or advisability, of such investment or the consequences of the Exchange and this Exchange Agreement.

 

(m)            
Each Exchanging Investor and each account for which it is acting is a “qualified institutional buyer” as defined in
Rule 144A under the Securities Act and is an “Institutional Account” as defined in FINRA 4512(c). Each of the Investor and
the Exchanging Investors agrees to furnish any additional information reasonably requested by the Company or any of its affiliates to
the extent required by applicable U.S. federal and state securities laws in connection with the Exchange.

 

(n)              
Each Exchanging Investor is acquiring the Exchange Shares solely for such Exchanging Investor’s own beneficial account, for
investment purposes, and not with a view to, or for resale in connection with, any distribution of the Exchange Shares in violation of
the Securities Act. Each of the Investor and the Exchanging Investors understands that the offer and sale of the Exchange Shares have
not been registered under the Securities Act or any state securities laws by reason of specific exemptions under the provisions thereof
that depend in part upon the investment intent of the Investor and the Exchanging Investors and the accuracy of the other representations
made by the Investor, for itself and on behalf of each Exchanging Investor, in this Exchange Agreement. Each of the Investor and the Exchanging
Investors understands that the Company and its affiliates are relying upon the representations and agreements contained in this Exchange
Agreement (and any supplemental information) for the purpose of determining whether the Exchange meets the requirements for such exemptions.

 

(o)              
The Investor acknowledges that the terms of the Exchange have been mutually negotiated between the Investor and the Company.

 

(p)              
The Investor acknowledges that it and each Exchanging Investor understands that the Company intends to pay Jefferies a fee in respect
of the Exchange.

 

(q)              
The Investor will, upon request, execute and deliver, for itself and on behalf of any Exchanging Investor, any additional documents
that the Company, the Old Notes Trustee or the Transfer Agent may reasonably request to complete the Exchange.

 

(r)               
The Investor understands that, unless the Investor notifies the Company in writing to the contrary at or before the Closing, each
of the Investor’s representations and warranties, on behalf of itself and each Exchanging Investor, contained in this Exchange Agreement
will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by the Investor and
each Exchanging Investor.

 

    - 9 -

     

    

 

(s)               
The Investor was given a meaningful opportunity to negotiate the terms of the Exchange.

 

(t)                
The Investor’s and each Exchanging Investor’s participation in the Exchange was not conditioned by the Company on the
Investor or any Exchanging Investor’s exchange of a minimum principal amount of Old Notes for the Exchange Consideration.

 

(u)              
Neither the Investor nor any Exchanging Investor has an ownership interest equal to or greater than either 5% of the number of
shares of Common Stock of the Company or 5% of the voting power outstanding of the Company, in each case, before the initial issuance
of the securities issued in the Exchange.

 

(v)              
The Investor had a sufficient amount of time to consider whether to participate in the Exchange, and neither the Company nor Jefferies,
nor any of their respective affiliates or agents, has placed any pressure on the Investor to respond to the opportunity to participate
in the Exchange.

 

(w)            
No later than one (1) Business Day after the date hereof, the Investor agrees to deliver to the Company settlement instructions
substantially in the form of Exhibit A attached to the Exchange Agreement for each of the Exchanging Investors.

 

(x)              
The Investor acknowledges and agrees that it and each Exchanging Investor has not transacted, and will not transact, in any securities
of the Company, including, but not limited to, any hedging transactions, from the time the Investor was first contacted by the Company
or Jefferies with respect to the transactions contemplated by this Exchange Agreement (or, if later, the time when the Company or Jefferies
first disclosed to the Investor the identity of the Company with respect to such transactions) until after the Release Time (as defined
in Section 7 herein). Solely for purposes of this Section 5(x), subject to the Investor’s compliance with its obligations under
U.S. federal securities laws and the Investor’s internal policies, (a) “Investor” will not include any employees or
affiliates of the Investor that are effectively walled off by appropriate “Fire Wall” information barriers approved by the
Investor’s legal or compliance department, and (b) the foregoing representations and covenants of this Section 5(x) will not apply
to any transaction by or on behalf of an account that was effected without the advice or participation of, or such account’s receipt
of information regarding the transactions contemplated hereby provided by, the Investor.

 

(y)              
The Investor acknowledges and agrees that Jefferies has not acted as a financial advisor or fiduciary to the Investor or any Exchanging
Investor and that Jefferies and its respective directors, officers, employees, representatives and controlling persons have no responsibility
for making, and have not made, any independent investigation of the information contained herein or in the Company’s SEC filings
and make no representation or warranty to the Investor or any Exchanging Investor, express or implied, with respect to the Company, the
Old Notes or the Exchange Consideration or the accuracy, completeness or adequacy of the information provided to the Investor or any Exchanging
Investor or any other publicly available information, nor will any of the foregoing persons be liable for any loss or damages of any kind
resulting from the use of the information contained therein or otherwise supplied to the Investor or any Exchanging Investor.

 

    - 10 -

     

    

 

(z)              
If the Investor is exchanging any Old Notes or acquiring any of the Exchange Consideration as a fiduciary or agent for one or more
accounts (including any Accounts that are Exchanging Investors), it represents that it has (A) the requisite investment discretion with
respect to each such account necessary to effect the Exchange, (B) full power to make the foregoing representations, warranties and covenants
on behalf of such account; and (C) contractual authority with respect to each such account.

 

6.                 
Conditions to Obligations of the Investor and the Company. The obligations of the Investor to deliver (or cause to be delivered)
the Old Notes and of the Company to deliver the Exchange Consideration are subject to the satisfaction at or prior to the Closing of the
following conditions precedent: the representations, warranties and covenants of the Company contained in Section 4 hereof and of the
Investor, for itself and on behalf of the Exchanging Investors, contained in Section 5 hereof are true and correct as of the Closing in
all respects with the same effect as though such representations and warranties had been made as of the Closing, and all covenants herein
to be performed by the each of the Company and the Investor, as applicable, at or before the Closing have been performed. The obligation
of the Company to deliver the Exchange Consideration is further subject to the conditions precedent set forth in Section 3 hereof and
the prior receipt by the Company of a valid DWAC Withdrawal and Exchange Shares DWAC Deposit, in each case conforming to the requirements
set forth in this Exchange Agreement. For the avoidance of doubt, the accuracy of a party’s representations and warranties and performance
of its covenants as set forth in the preceding sentence is a condition to the other party’s obligations to consummate the transactions
contemplated hereby.

 

7.                 
Covenant and Acknowledgment of the Company. (A) As of the date hereof the Company is not aware of, and has not provided
to the Investor, any material non-public information regarding the Company, other than any material non-public information relating to
the Exchange; and (B) the Company hereby agrees to publicly disclose at or before 8:30 a.m., New York City time, on the Business Day after
the date hereof (such time and date, the “Release Time”), the exchange of the Old Notes contemplated by this Exchange
Agreement and similar exchange agreements in a press release or Current Report on Form 8-K. The Company hereby acknowledges and agrees
that, as of the Release Time, none of the information provided by or on behalf of the Company to the Investor or any Exchanging Investor
in connection with the Exchange will constitute material non-public information. As of the Release Time, no material non-public information
has been provided by or on behalf of the Company to the Investor.

 

8.                 
Further Instruments and Acts. Each of the parties to this Exchange Agreement agrees to execute and deliver such further
instruments and do such further acts as may be reasonably necessary to carry out the purposes of this Exchange Agreement.

 

9.                 
Waiver, Amendment. Neither this Exchange Agreement nor any provisions hereof may be modified, changed, discharged or terminated
except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.

 

    - 11 -

     

    

 

10.             
Assignability. Neither this Exchange Agreement nor any right, remedy, obligation or liability arising hereunder or by reason
hereof will be assignable by either the Company, on the one hand, or the Investor or any Exchanging Investor, on the other hand, without
the prior written consent of the other party.

 

11.             
Taxation. The Investor acknowledges that, if an Exchanging Investor is a United States person for U.S. federal income tax
purposes, the Company must be provided with a correct taxpayer identification number (“TIN”) (generally a person’s
social security or federal employer identification number) and certain other information on a properly completed and executed Internal
Revenue Service (“IRS”) Form W-9, which is provided herein on Exhibit C attached to the Exchange Agreement.
The Investor further acknowledges that, if an Exchanging Investor is not a United States person for U.S. federal income tax purposes,
(i) the Company must be provided with the appropriate properly completed and executed IRS Form W-8, attesting to that non-U.S. Exchanging
Investor’s foreign status and certain other information, including information establishing an exemption from withholding under
Sections 1471 through 1474 of the Internal Revenue Code of 1986, as amended (the “Code”) and with respect to any payments
or deliveries received hereunder attributable to accrued and unpaid interest (e.g., under the portfolio interest exemption) and (ii) on
any date the Exchanging Investor acquired Old Notes, the aggregate fair market value of the Old Notes held actually or constructively
(within the meaning of Treasury Regulation Section 1.897-9T(b)) by the Exchanging Investor (including any Old Notes acquired on such date)
was not 5% or more of the total fair market value of the Company’s Class A common stock. The Investor further acknowledges that
any Exchanging Investor may be subject to 30% U.S. federal withholding or 24% U.S. federal backup withholding on certain payments or deliveries
made to such Exchanging Investor unless such Exchanging Investor properly establishes an exemption from, or a reduced rate of, such withholding
or backup withholding.

 

12.             
Waiver of Jury Trial. EACH OF THE COMPANY, THE INVESTOR AND THE EXCHANGING INVESTORS IRREVOCABLY WAIVES ANY AND ALL RIGHT
TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS EXCHANGE AGREEMENT.

 

13.             
Governing Law. This Exchange Agreement will be governed by and construed in accordance with the laws of the State of New
York.

 

14.             
Section and Other Headings. The section and other headings contained in this Exchange Agreement are for reference purposes
only and will not affect the meaning or interpretation of this Exchange Agreement.

 

15.             
Counterparts. This Exchange Agreement may be executed in any number of counterparts, each of which when so executed and
delivered will be deemed to be an original and all of which together will be deemed to be one and the same agreement. Delivery of an executed
signature page to this Exchange Agreement by facsimile or other electronic transmission (including pdf format) will be effective as delivery
of a manually executed counterpart hereof.

 

    - 12 -

     

    

 

16.             
Notices. All notices and other communications to the Company provided for herein will be in writing and will be deemed to
have been duly given if delivered personally or sent by nationally recognized overnight courier service or by registered or certified
mail, return receipt requested, postage prepaid to the following addresses (or such other address as either party may have hereafter specified
by notice in writing to the other): (a) if to the Company, Arch Resources, Inc., CityPlace One, One CityPlace Drive, Suite 300, St. Louis,
Missouri 63141, Attention: General Counsel; and (b) if to the Investor, the address provided on the signature page below.

 

17.             
Binding Effect. The provisions of this Exchange Agreement will be binding upon and accrue to the benefit of the parties
hereto and the Exchanging Investors and their respective heirs, legal representatives, successors and permitted assigns.

 

18.             
Notification of Changes. Each party hereto hereby covenants and agrees to notify the other party hereto upon the occurrence
of any event prior to the Closing that would cause any representation, warranty, or covenant of the Investor, made on behalf of itself
and each Exchanging Investor, contained in this Exchange Agreement to be false or incorrect.

 

19.             
Severability. If any term or provision of this Exchange Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability will not affect any other term or provision of this Exchange Agreement or invalidate or
render unenforceable such term or provision in any other jurisdiction.

 

20.             
Reliance by Jefferies. Jefferies, acting as financial advisor to the Company, may rely on each representation and warranty
of the Company and of the Investor, made on behalf of itself and each Exchanging Investor, herein or pursuant to the terms hereof with
the same force and effect as if such representation or warranty were made directly to Jefferies. Jefferies will be a third-party beneficiary
of this Exchange Agreement to the extent provided in this Section 20.

 

21.             
Entire Agreement. This Exchange Agreement, including all Exhibits hereto, constitutes the entire agreement of the parties
with respect to the specific subject matter covered hereby, and supersedes in their entirety all other agreements or understandings between
or among the parties with respect to such specific subject matter.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    - 13 -

     

    

 

In
Witness Whereof, the undersigned has executed this Exchange Agreement as of the date first written above.

 

	 	Investor:
	 	 
	 	 
	 	Legal name
	 	 	 	 
		By:	 	
		 	Name:	
		 	Title:	

 

Investor Address:

	Telephone:	 	 

 

Country (and, if applicable, State) of Residence:

 

		 

 

Taxpayer Identification Number:

 

[Signature Page to Exchange
Agreement]

 

     

     

    

  

			

	 	Arch Resources,
Inc.
	 	 
	 	 	 
	 	By:	 
		 	Name:	

			Title:	

 

[Signature Page to Exchange
Agreement]

 

     

     

    

 

EXHIBIT A

 

Exchanging Investor Information

(Complete the
Following Form for Each Exchanging Investor)

 

	Legal Name of Exchanging Holder:	 

	 	 
	Aggregate principal amount of Old Notes to be exchanged (must be a multiple of $1,000): 	$                                                                                  ,000

 

	Exchanging Holder’s Address:	 
	 	 
	 	 
	 	 
	 	 
	 	 
	Telephone:	 
	 	 
	Country (and, if applicable,
State) of Residence:	 
	 	 
	Taxpayer Identification Number:	 

 

	Account for Old Notes	 	Account
                                            for Exchange Shares	 	Wire
                                            Instructions for Cash Consideration
	 	 	 	 	 
	DTC Participant Number:	 	DTC Participant Number:	 	Bank
Routing #:
	 	 	 	 	 
	 	 	 	 	 
	DTC Participant Name:	 	DTC Participant Name:	 	SWIFT
Code:
	 	 	 	 	 
	 	 	 	 	 
	DTC Participant Phone Number:	 	DTC Participant
Phone Number:	 	Bank Address:
	 	 	 	 	 
	 	 	 	 	 
	DTC Participant Contact Email:	 	DTC Participant
Contact Email:	 	 
	 	 	 	 	 
	 	 	 	 	 
		 	Account # at DTC Participant:	 	Account Number:
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Account Name:
	 	 	 	 	 

 

     A-1

     

    

 

EXHIBIT B

 

Exchange Procedures

 

NOTICE TO INVESTOR

 

Attached are Investor Exchange
Procedures for the settlement of the exchange (the “Exchange”) of 5.25% Convertible Senior Notes due 2025, CUSIP 039389AB7
(the “Old Notes”) of Arch Resources, Inc. (the “Company”) for cash (the “Cash Consideration”)
and shares of the Company’s Class A common stock, $0.01 par value per share, CUSIP 03940R107 (the “Exchange Shares”)
(collectively, the “Exchange Consideration”), pursuant to the Exchange Agreement, dated as of May 18, 2022, between
you and the Company, which is expected to occur on May 25, 2022. To ensure timely settlement, please follow the instructions for the Exchange
as set forth on the following page.

 

Your failure to comply with
the attached instructions may delay your receipt of the Exchange Consideration.

 

If you have any questions,
please contact Colyer Curtis of Jefferies LLC at 1 (212) 708-2734.

 

Thank you.

 

     B-1

     

    

 

Delivery of the Old Notes

 

You must direct the eligible
DTC participant through which you hold a beneficial interest in the Old Notes to post on May 25, 2022, no later than 9:30 a.m., New
York City time, withdrawal instructions through DTC via DWAC for the aggregate principal amount of Old Notes (CUSIP 039389AB7) set
forth in Exhibit A of the Exchange Agreement to be exchanged. It is important that this instruction be submitted and the DWAC posted
on May 25, 2022; if it is posted before May 25, 2022, then it will expire unaccepted and will need to be re-posted on May 25, 2022.

 

To receive the Exchange Shares

 

You must direct your eligible
DTC participant through which you wish to hold a beneficial interest in the Exchange Shares to post on May 25, 2022, no later than
9:30 a.m., New York City time, a deposit instruction through DTC via DWAC for the aggregate number of Exchange Shares to which you
are entitled pursuant to the Exchange (calculated as described in Section 1 of the Exchange Agreement). It is important that this instruction
be submitted and the DWAC posted on May 25, 2022; if it is posted before May 25, 2022, then it will expire unaccepted and will need to
be re-posted on May 25, 2022.

 

Closing

 

On May 25, 2022, after the Company
receives your Old Notes and your delivery instructions as set forth above, and subject to the satisfaction of the conditions to Closing
as set forth in your Exchange Agreement, the Company will pay the Cash Consideration and deliver the Exchange Shares in accordance with
the delivery instructions above.

 

     B-2

     

    

 

Exhibit C

 

Under U.S. federal income
tax law, a holder who exchanges Old Notes for the Exchange Consideration generally must provide such holder’s correct taxpayer identification
number (“TIN”) on IRS Form W-9 (attached hereto) or otherwise establish a basis for exemption from backup withholding.
A TIN is generally an individual holder’s social security number or a holder’s employer identification number. If the correct
TIN is not provided, the holder may be subject to a $50 penalty imposed by the IRS. In addition, certain payments made to holders may
be subject to U.S. backup withholding tax (currently set at 24% of the payment). If a holder is required to provide a TIN but does not
have the TIN, the holder should consult its tax advisor regarding how to obtain a TIN. Certain holders are not subject to these backup
withholding and reporting requirements. Non-U.S. Holders generally may establish their status as exempt recipients from backup withholding
by submitting a properly completed applicable IRS Form W-8 (available from the Company or the IRS at www.irs.gov), signed, under
penalties of perjury, attesting to such holder’s exempt foreign status. U.S. backup withholding is not an additional tax. Rather,
the U.S. federal income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding
results in an overpayment of taxes, a refund may be obtained provided that the required information is timely furnished to the IRS. Holders
are urged to consult their tax advisors regarding how to complete the appropriate forms and to determine whether they are exempt from
backup withholding or other withholding taxes.

 

     C-1Exhibit
10.1

 

UNEX
HOLDINGS INC.

 

SUBSCRIPTION
DOCUMENTS

 

(for
Non-U.S. Subscribers under Regulation S)

 

Up
to 6,000,000 Shares of Common Stock at US$2.5 per Share

 

    	 

     

    

 

UNEX
HOLDINGS INC.

 

SUBSCRIPTION
DOCUMENTS

 

This
Subscription Packet Contains the following (together, the “Subscription Documents”):

 

	I	Subscriber Instructions
	II 	Subscription Agreement
	III 	Investor Questionnaire

 

	Name of Subscriber: 	_____________________________________
	City and Country of Residence:	_____________________________________
	Citizenship of Subscriber:	_____________________________________
	Passport/National	 
	Registration Identity Card (NRIC):	_____________________________________
	Subscriber’s Telephone Number	_____________________________________
	Subscriber’s Facsimile Number:	_____________________________________
	Subscriber’s Email Address:	_____________________________________
	Date of Subscription: 	_____________________________________
	Number of Shares of	 
	Common Stock Subscribed For: 	_____________________________________
	 	 
	Purchase Price Per	 
	Share of Common Stock: 	_____________________________________
	 	 
	Aggregate Purchase Price: $	_____________________________________

 

SUBSCRIPTION
PROCEDURES

 

Complete
and sign the enclosed Subscription Documents in accordance with the instructions below and return them to: Unex Holdings Inc., 31-A2,
Jalan 5/32A, 6 1⁄2 Miles off Jalan Kepong, Off Jalan Kepong, 52000 Kuala Lumpur, Malaysia, with your payment by wire transfer of
immediately available funds in U.S. dollars or in such other currency as mutually agreed in writing by the Parties, to (i) such bank
account as designated in writing by the Company on the Closing Date (as defined in the Subscription Agreement therein), or (ii) to an
escrow agent (the “Escrow Agent”) designated in writing by the Company to the Subscriber on the Closing Date (as defined
in the Subscription Agreement therein), in accordance with wire instructions provided by the Escrow Agent, pursuant to the terms of an
escrow agreement separately agreed between the Company, the Subscriber, and the Escrow Agent in writing.

 

    	 

     

    

 

UNEX
HOLDINGS INC.

 

I.
SUBSCRIBER INSTRUCTIONS

 

(for
Non-U.S. Subscribers under Regulation S)

 

IF
YOU WISH TO SUBSCRIBE, PLEASE CAREFULLY FOLLOW THE INSTRUCTIONS BELOW. SUBSCRIPTION AGREEMENTS THAT ARE MISSING REQUESTED INFORMATION
OR SIGNATURES CANNOT BE CONSIDERED UNTIL SUCH INFORMATION AND SIGNATURES ARE PROVIDED. ALL SUCH INFORMATION WILL BE TREATED CONFIDENTIALLY.

 

A.
SUBSCRIPTION AGREEMENT: The Subscription Agreement must be fully completed by the prospective subscriber on the signature page
thereto. The completed Subscription Agreement must be signed by the prospective Subscriber and dated.

 

B.
INVESTOR QUESTIONNAIRE: The Investor Questionnaire must be fully completed by any prospective subscriber, signed by the prospective
subscriber and dated. Each purchasing entity must attach to the Investor Questionnaire a copy of its charter or other governing instrument
as well as appropriate evidence of its power and authority to purchase securities in this offering.

 

IF
YOU WISH TO RETAIN A COPY OF THESE SUBSCRIPTION DOCUMENTS FOR YOUR RECORDS, PLEASE MAKE A COPY OF THE FULLY COMPLETED SUBSCRIPTION DOCUMENTS
PRIOR TO SUBMITTING THEM TO THE COMPANY.

 

    	 

     

    

 

UNEX
HOLDINGS INC.

 

II.
SUBSCRIPTION AGREEMENT

 

(for
Non-U.S. Subscribers under Regulation S)

 

dated

 

_____________________
2022

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	 	Page
	ARTICLE I DEFINITIONS	1
	 	 
	1.1	Certain Defined Terms	1
	1.2	Other Definitions	3
	1.3	Interpretation and Rules of Construction	3
	 	 	 
	ARTICLE II PURCHASE AND SALE; CLOSING	4
	 	 
	2.1	Subscription and Issuance of	4
	2.2	Closing of Share Subscription	4
	2.3	Closing Deliveries	4
	 	 	 
	ARTICLE III Representations and Warranties
    of the Company	6
	 	 
	3.1	Organization, Authority and Qualification of the Company	6
	3.2	Due Execution	6
	3.3	Litigation. 	6
	3.4	Non-U.S. Transaction.	6
	 	 	 
	ARTICLE IV Representations and Warranties
    of the Subscriber	7
	 	 
	4.1	Non-U.S. Persons.	7
	4.2	Non-Political Figure.	7
	4.3	Non-U.S. Transaction..	8
	4.4	Due Execution	8
	4.5	No Conflict	8
	4.6	Proportionate Commitment.	8
	4.7	Substantial Knowledge and Experience.	9
	4.8	Truth and Accuracy.	9
	4.9	Consents and Approvals	9
	4.10	Notice..	9
	 	 	 
	ARTICLE V Additional Agreements	9
	 	 
	5.1	Registration Rights	9
	5.2	Confidentiality	10
	5.3	Notice of Developments	11
	5.4	Further Action	11
	 	 	 
	ARTICLE VI Tax Matters	11
	 	 
	6.1	Tax Liabilities Related to the Subject Transaction	11
	6.2	Tax Cooperation and Information Exchange	11

 

    	i

     

    

 

	ARTICLE VII Conditions to Closing	12
	 	 
	7.1	Conditions to Obligations of the Parties	12
	7.2	Conditions to Obligations of the Company	12
	7.3	Conditions to Obligations of the Subscriber	12
	 	 	 
	ARTICLE VIII Termination	13
	 	 
	8.1	Termination	13
	8.2	Effect of Termination	13
	 	 	 
	ARTICLE IX Indemnification	14
	 	 
	9.1	Indemnification.	14
	9.2	Procedures Relating to Indemnification.	14
	9.3	Limitation on the Liability..	14
	 	 	 
	ARTICLE X General Provisions	15
	 	 
	10.1	Expenses	15
	10.2	Notices	15
	10.3	Public Announcements	15
	10.4	Severability	15
	10.5	Entire Agreement; Conflict	15
	10.6	Assignment	15
	10.7	Amendment	16
	10.8	Waiver	16
	10.9	No Third Party Beneficiaries	16
	10.10	Governing Law; Arbitration. .	16
	10.11	Counterparts..	16

 

    	ii

     

    

 

SHARE
SUBSCRIPTION AGREEMENT

 

This
SHARE SUBSCRIPTION AGREEMENT (the “Agreement”), dated as of _________________, 2022, between Unex Holdings Inc., a
company incorporated with limited liability in the State of Nevada, United States of America (“US” or “U.S.”)
(the “Company”), and the subscriber set forth in the signature page (the “Signature Page”) attached hereto (the
“Subscriber”). Each of the above shall collectively be referred to as the “Parties”, and each, a “Party”.

 

RECITALS

 

WHEREAS,
the Subscriber desires to subscribe for and purchase, and the Company desires to issue and sell, certain number of shares of common stock,
par value $0.001 per share, (“Common Stock”) pursuant to the terms and conditions set forth in this Agreement.

 

WHEREAS,
the Company and the Subscriber are executing and delivering this Agreement in accordance with and in reliance upon the exemption from
securities registration afforded by Regulation S (“Regulation S”) as promulgated by the U.S. Securities and Exchange Commission
under the U.S. Securities Act.

 

WHEREAS,
the Subscriber is a “non-US person” as defined in Regulation S, subscribing the Subscription Shares solely for its own account
for the purpose of investment.

 

WHEREAS,
before the Registration Period Start Date (as defined hereunder), the Company is entering into other subscription agreements of substantially
the same form as this Agreement (the “Other Subscription Agreements” and together with this Agreement, the “Subscription
Agreements”) with certain other investors (the “Other Subscribers” and together with Subscriber, the “Subscribers”),
pursuant to which such investors have agreed to purchase other subscriptions shares (the “Other Subscription Shares”), and
together with the Subscription Shares (as defined hereunder, and together with the Other Subscription Shares, the “Aggregate Subscription
Shares”), an aggregate amount of up to 6,000,000 shares of Common Stock of the Company at US$2.5 per share.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements set forth herein, as
well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties hereto,
intending to be legally bound, agrees as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1
Certain Defined Terms. For purposes of this Agreement:

 

“Affiliate”
means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, Controls,
is Controlled by, or is under common Control with, such specified Person.

 

    	1

     

    

 

“Business
Day” means any day that is not a Saturday, a Sunday or any other day on which banks are required or authorized by Law to be closed
in the U.S., Malaysia or Singapore.

 

“Control”
(including “Controlled by” and “under common Control with”) means with respect to the relationship between or
among two or more Persons, the possession of the power to direct or cause the direction of the affairs or management of a Person, whether
through the ownership of a majority of the outstanding voting securities, or having the right to appoint a majority of the members of
the board of directors, or as trustee, personal representative or executor, by contract, credit arrangement or otherwise.

 

“Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Governmental
Authority” means any U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar government, taxation,
governmental, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body.

 

“Law”
means any U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar statute, law, ordinance, regulation,
rule, code, order, requirement or rule of law (including common law).

 

“Material
Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition or prospects of the
Company or its subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements or instruments
to be entered into in connection herewith.

 

“MYR”
means Malaysian Ringgit.

 

“Common
Stock” means the shares of common stock, par value US$0.001 per share, in the share capital of the Company.

 

“Person”
means any individual, partnership, firm, corporation, limited liability company, association, trust, unincorporated organization or other
entity.

 

“Securities
Act” means the U.S. Securities Act of 1933, as amended, and all of the rules and regulations promulgated thereunder.

 

“SEC
Documents” means all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities
Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) of the Exchange Act, for the two years preceding the date hereof
(or such shorter period as the Company was required by law or regulation to file such material), and the foregoing materials, including
the exhibits thereto and documents incorporated by reference therein.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

    	2

     

    

 

“S$”
means Singapore Dollar.

 

“Transaction
Document” means, collectively, this Agreement and each of the other documents entered into or delivered by the parties hereto or
their respective Affiliates in connection with the transactions contemplated by this Agreement.

 

“US$”
means the United States Dollars, the lawful currency of the United States of America.

 

1.2
Other Definitions. The following terms have the meanings set forth in the sections set forth below:

 

	 	Definition	 	Location
	 	 	 	 
	 	“Agreement”	 	Preamble
	 	“Company”	 	Preamble
	 	“Subscriber”	 	Preamble
	 	“Parties”	 	Preamble
	 	“Party”	 	Preamble
	 	“Subscription Price”	 	Section 2.1
	 	“Subscription Shares”	 	Section 2.1
	 	“Closing”	 	Section 2.2
	 	“Closing Date”	 	Section 2.2
	 	“Registration Period Start Date”	 	Section 5.1

 

1.3
Interpretation and Rules of Construction. In this Agreement, except to the extent otherwise provided or that the context otherwise
requires:

 

(a)
when a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article or Section of,
or an Exhibit or Schedule to, this Agreement unless otherwise indicated;

 

(b)
the table of contents and headings in this Agreement are inserted for reference purposes only and do not affect in any way the meaning
or interpretation of this Agreement;

 

(c)
whenever the words “include,” “includes” or “including” are used in this Agreement, they are deemed
to be followed by the words “without limitation”;

 

    	3

     

    

 

(d)
the words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
refer to this Agreement as a whole and not to any particular provision of this Agreement;

 

(e)
whenever the word “day” is used in this Agreement, it shall be deemed to refer to a calendar day;

 

(f)
all terms defined in this Agreement have the defined meanings when used in any certificate or other document made or delivered pursuant
to this Agreement, unless otherwise defined therein;

 

(g)
the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms;

 

(h)
any Law defined or referred to herein or in any agreement or instrument that is referred to herein means such Law or statute as from
time to time amended, modified or supplemented, including by succession of successor Laws;

 

(i)
references to a Person are also to its successors and permitted assigns; and

 

(j)
the use of “or” is not intended to be exclusive unless expressly indicated otherwise.

 

ARTICLE
II

PURCHASE
AND SALE; CLOSING

 

2.1
Subscription and Issuance of Common Stock. Upon the terms and subject to the conditions of this Agreement, at Closing (as defined
below), the Subscriber hereby agrees to subscribe for and purchase, and the Company hereby agrees to issue and sell to the Subscriber
the number of shares of Common Stock set forth on the Signature Page (the “Subscription Shares”) for an aggregate purchase
price set forth on the Signature Page (the “Purchase Price”), representing a per share purchase price as set forth on the
Signature Page.

 

2.2
Closing of Share Subscription. Subject to satisfaction or, to the extent permissible, waiver by the Party or Parties entitled
to the benefit of the relevant conditions, of all the conditions (other than conditions that by their nature are to be satisfied at Closing,
but subject to the satisfaction or, to the extent permissible, waiver of those conditions at Closing), the closing of the sale and purchase
of the Subscription Shares pursuant to this Section 2.2 (the “Closing”) shall take place remotely by electronic means (i)
five (5) business days from the date of this Agreement, or (ii) any other date as may be agreed by the Subscriber and the Company in
writing (the “Closing Date”).

 

2.3
Closing Deliveries . At the Closing,

 

(a)
the Subscriber shall pay, or cause to be paid, the Purchase Price to the Company by wire transfer of immediately available funds in U.S.
dollars or in such other currency as mutually agreed in writing by the Parties, to (i) such bank account as designated in writing by
the Company on the Closing Date, or (ii) an escrow agent (the “Escrow Agent”) designated in writing by the Company to the
Subscriber on the Closing Date, in accordance with wire instructions provided by the Escrow Agent, pursuant to the terms of an escrow
agreement separately agreed between the Company, the Subscriber, and the Escrow Agent in writing (the “Escrow Agreement”);

 

    	4

     

    

 

(b)
the Company shall deliver to the Subscriber the Subscription Shares in book entry form within thirty(30) days of the clearing of transfer
of the Purchase Price;

 

(c)
in the event that the Purchase Price are paid to the Escrow Agent, the Purchase Price shall be released to the Company pursuant to the
terms of the Escrow Agreement;

 

(d)
The Subscriber acknowledges and understands that (a) the Subscription Shares have not been registered under the Securities Act, or applicable
U.S. state securities laws, (b) that the Subscription Shares are deemed to be “restricted securities” under the Securities
Act and applicable U.S. state securities laws and (c) the purchase of the Subscription Shares is taking place in a transaction not involving
a public offering or U.S. Persons. Furthermore, the Subscriber is aware and understands that any resale inconsistent with the Securities
Act may create liability on the Subscriber’s part and/or the part of the Company, and agrees not to assign, sell, pledge, transfer
or otherwise dispose of or transfer any such Subscription Shares, unless registered under the Securities Act and applicable U.S. state
securities laws, or an opinion is given by counsel satisfactory to the Company that such registration is not required. The Company will
issue the Subscription Shares purchased by the Subscriber in the name of the Subscriber and in such denominations to be specified by
the Subscriber prior to the Closing. The Subscription Shares will bear the following legend (the “Legend”), and appropriate
“stop transfer” instructions:

 

“THESE
SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.”

 

“THESE
SECURITIES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(“THE SECURITIES ACT”) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES
ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT. TRANSFER OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE
WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT
TO AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”

 

    	5

     

    

 

ARTICLE
III

Representations
and Warranties of the Company

 

In
order to induce the Subscriber to enter into this Agreement, the Company hereby represents and warrants to the Subscriber as follows:

 

3.1
Organization, Authority and Qualification of the Company. The Company is a company incorporated with limited liability in the
State of Nevada, U.S., with good standing, and has all necessary corporate power and authority to carry on the business as it has been
and is currently conducted. Any and all of the corporate actions relating to the issuance and placement of the Subscription Shares as
contemplated by this Agreement have been duly authorized by the Company in accordance with applicable Laws and constitutional documents
of the Company.

 

3.2
Due Execution. The execution and delivery by the Company of this Agreement and any other Transaction Document to which the Company
is a party, the performance by the Company of its obligations hereunder and thereunder, and the consummation by the Company of the transactions
contemplated hereby and thereby have been or will be on or prior to the Closing Date duly authorized by all requisite action on the part
of the Company. This Agreement has been duly executed and delivered by the Company, and (assuming due authorization, execution and delivery
by the Subscriber) this Agreement constitutes, and upon their execution the Transaction Documents to which the Company is a party shall
constitute, legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective
terms.

 

3.3
Litigation. Except as disclosed in the SEC Documents, there are no actions, claims, demands, investigations, examinations, indictments,
litigations, suits or other criminal, civil or administrative or investigative proceedings pending or, to the knowledge of the Company,
threatened against the Company or any of its subsidiaries or directors or officers of the Company or any of its subsidiaries in their
capacities as such before or by any Governmental Authority or by any other Person, which, either individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect.

 

3.4
Non-U.S. Transaction. Neither the Company nor its authorized persons has engaged, nor will engage, in any directed selling efforts
to a U.S. Persons (as defined Rule 902 of Regulation S promulgated under the Securities Act) with respect to the Subscription Shares
and the Company and its authorized persons has complied and will comply with the “offering restrictions” requirements of
Regulation S. The transactions contemplated hereby have not been pre-arranged with a buyer located in the United States or with a U.S.
Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act. Neither the Company nor its
authorized persons has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect
of, conditioning the market in the United States, its territories or possessions, for any of the Subscription Shares. The Company agrees
not to cause any advertisement of the Subscription Shares to be published in any newspaper or periodical or posted in any public place
and not to issue any circular relating to the Subscription Shares, except such advertisements that include the statements required by
Regulation S, and only offshore and not in the U.S. or its territories, and only in compliance with any local applicable securities laws.

 

    	6

     

    

 

ARTICLE
IV

Representations
and Warranties of the Subscriber

 

In
order to induce the Subscriber to enter into this Agreement, except as set forth in the corresponding sections herein, the Subscriber
hereby represents and warrants to the Company as follows:

 

4.1
Non-U.S. Persons. The Subscriber is not a U.S. person as defined under Rule 902 of Regulation S and the Subscription Shares which
the Subscriber is acquiring are being acquired for the Subscriber’s own account (or a trust account if the Subscriber is a trustee)
for investment only and not with a view to sale or resale, distribution or fractionalization of the securities under applicable U.S.
federal or state securities laws. The Subscriber is not acquiring such securities for the account or benefit of any U.S. person and was
not organized for the specific purpose of acquiring such securities. The Subscriber will not (i) resell or offer to resell the securities,
or any portion thereof, or (ii) engage in hedging transactions, in each case, except in accordance with the terms of this Agreement and
in accordance with Regulation S, pursuant to registration under the Securities Act or pursuant to an available exemption from registration
under the Securities Act and otherwise in compliance with all applicable securities laws. Furthermore, prior to engaging in any hedging
transaction or any resale of the securities, or any portion thereof, by the Subscriber, the Subscriber shall provide the Company with
an opinion of counsel acceptable to the Company in its sole discretion and in a form acceptable to the Company in its sole discretion,
that any such proposed sale or hedging transaction is in compliance with the Securities Act or an exemption therefrom.

 

4.2
Non-Political Figure. To the best of the Subscriber’s knowledge, none of (i) the Subscriber, (ii) any person controlling
or controlled by the Subscriber, (iii) if the Subscriber is a privately-held entity, any person having a beneficial interest in the Subscriber;
or (iv) any person for whom the Subscriber is acting as agent or nominee in connection with this investment is a senior foreign political
figure1, a special interest person2, or any immediate family member3 or close associate4 of
a senior foreign political figure, as such terms are defined in the footnotes below.

 

 

	1	A “senior foreign
    political figure” is defined as a senior official in the executive, legislative, administrative, military or judicial branches
    of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of
    a foreign government-owned corporation. In addition, a “senior foreign political figure” includes any corporation, business
    or other entity that has been formed by, or for the benefit of, a senior foreign political figure.
	2	A “special interest
    person” shall be any individual who is alleged to have been involved in a criminal activity that falls under the following
    categories: corruption, financial crime, trafficking, organized crime, terror, tax crime.
	3	“Immediate family”
    of a senior foreign political figure typically includes the figure’s parents, siblings, spouse, children and in-laws.
	4	A “close associate”
    of a senior foreign political figure is a person who is widely and publicly known to maintain an unusually close relationship with
    the senior foreign political figure and includes a person who is in a position to conduct substantial domestic and international
    financial transactions on behalf of the senior foreign political figure.

 

    	7

     

    

 

4.3
Non-U.S. Transaction. The Company may only make offers to sell the Subscription Shares to persons outside the United States in
this offering and, if applicable, at the time any buy order is originated, the buyer is outside the United States. The Subscriber has
not received an offer to purchase Subscription Shares inside the United States and will not originate a buy order inside the United States.
The Subscriber has not received, and is not aware of, any advertisement in a publication with a general circulation in the United States
(as described in Rule 902 of Regulation S) that refers to the offering and sale of the Subscription Shares.

 

4.4
Due Execution. The execution and delivery by the Subscriber of this Agreement and any other Transaction Document to which the
Subscriber is a party, the performance by the Subscriber of its obligations hereunder and thereunder and the consummation by the Subscriber
of the transactions contemplated hereby and thereby have been or will be on or prior to the Closing Date duly authorized by all requisite
action on the part of the Subscriber. This Agreement has been duly executed and delivered by the Subscriber, and (assuming due authorization,
execution and delivery by the Company) this Agreement constitutes, and upon their execution the Transaction Documents to which the Subscriber
is a party shall constitute, legal, valid and binding obligations of the Subscriber, enforceable against the Subscriber in accordance
with their respective terms.

 

4.5
No Conflict. Assuming that all required consents, approvals, authorizations and other actions referred to herein have been obtained,
the execution, delivery and performance of this Agreement and any other Transaction Document by the Subscriber do not (a) violate, conflict
with or result in the breach of any provision of the constitutional documents of the Subscriber, (b) conflict with or violate any Law
or governmental order applicable to the Subscriber, or (c) conflict with, result in any breach of, constitute a default under, require
any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, any
note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement
to which the Subscriber is a party, except, to the extent that such conflicts, breaches, defaults or other matters would not materially
and adversely affect the ability of the Subscriber to perform any of its obligations under this Agreement or any other Transaction Document
or consummate any transactions contemplated hereunder or thereunder.

 

4.6
Proportionate Commitment. The Subscriber’s overall commitment to investments that are not readily marketable is not disproportionate
to the Subscriber’s net worth and the Subscriber’s investment in the Company will not cause such overall commitment to become
excessive. The Subscriber has adequate net worth and means of providing for current needs and personal contingencies to sustain a complete
loss of the Subscriber’s investment in the Company, and the Subscriber has no need for liquidity in this investment.

 

    	8

     

    

 

4.7
Substantial Knowledge and Experience. The Subscriber has substantial knowledge and experience in making investment decisions of
this type and is capable of evaluating the merits and risks of this investment. The Subscriber understands that an investment in the
Company is speculative and involves a high degree of risk, and the Subscriber has carefully reviewed and is aware of all of the risk
factors related to the purchase of the securities. The Subscriber has had an opportunity to ask questions of and receive answers from
representatives of the Company with respect to this offering. The Company has provided the Subscriber with all documents requested and
has provided answers to all of the Subscriber’s questions relating to an investment in the Company. In addition, the Subscriber
has had an opportunity to discuss this investment with representatives of the Company and to ask questions of them.

 

4.8
Truth and Accuracy. The Company and the other subscribers are relying on the truth and accuracy of the declarations, representations
and warranties herein made by the Subscriber. Accordingly, the foregoing representations and warranties and undertakings are made by
the Subscriber with the intent that they may be relied upon in determining his/her suitability as a subscriber. The Subscriber agrees
that such representations and warranties shall survive the acceptance of the Subscriber, and the Subscriber indemnifies and agrees to
hold harmless, the Company and each other subscriber from and against all damages, claims, expenses, losses or actions resulting from
the untruth of any of the warranties and representations contained in this Agreement.

 

4.9
Consents and Approvals. The execution, delivery and performance by the Subscriber of this Agreement does not and will not require
any consent, approval, authorization or other order of, action by, filing with, or notification to, any Governmental Authority. The execution,
delivery and performance by the Company to the Subscriber of this Agreement does not and will not require any consent, approval, authorization
or other order of, action by, filing with, or notification to, any Governmental Authority. The Subscriber is not acting on behalf of,
or for the benefit for, nor does it intend to transfer the Subscription Shares to any party that will require any consent, approval,
authorization or other order of, action by, filing with, or notification to, any Governmental Authority.

 

4.10
Notice. The foregoing representations and warranties are true as of the date of this Agreement and shall be true as of the date
the Company issues and sells Subscription Shares to the Subscriber. If such representations and warranties shall not be true in any respect
prior to such date, the Subscriber will give prompt written notice of such fact to the Company.

 

ARTICLE
V

Additional
Agreements

 

5.1
Registration Rights. The Company shall use commercially reasonable efforts within two hundred and seventy (270) calendar days
from the earlier of (i) a date on which the Aggregate Subscription Shares reaches 6,000,000 shares of Common Stock; or (ii) a date to
be specified by the Company on no less than ten Business Day’s prior notice to the Subscriber; in any event no later than December
31, 2023 (“the Registration Period Start Date”), to register the Registrable Securities (as defined below) being issued pursuant
to this Agreement by preparing and filing one registration statement (the “Registration Statement”), or if necessary more
than one registration statement, of the Company in compliance with the Securities Act and pursuant to Rule 415 under the Securities Act
or any successor rule providing for offering securities on a continuous basis (“Rule 415”), and the declaration or ordering
of effectiveness of the Registration Statement by the SEC.

 

    	9

     

    

 

The
Subscriber and its counsel shall have a reasonable opportunity to review and comment upon the Registration Statement or amendment thereto
and any related prospectus prior to its filing with the SEC. The Subscriber shall furnish all information reasonably requested by the
Company for inclusion therein. The Company shall use commercially reasonable efforts to have the Registration Statement or amendment
declared effective by the SEC at the earliest possible date. The Company shall use commercially reasonable efforts to keep the Registration
Statement effective pursuant to Rule 415 promulgated under the Securities Act and available for sales of all of the Registrable Securities
at all times until the date as of which the Subscriber may sell all of the Registrable Securities without restriction pursuant to the
last sentence of Rule 144(b)(1)(i) promulgated under the Securities Act (or successor thereto). The Registration Statement (including
any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading.

 

“Registrable
Securities” means, as of any date of determination, (a) all shares of Common Stock issued pursuant to the Subscription Agreements,
and (b) any securities issued or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event
with respect to the foregoing; provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and
the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect
thereto) for so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by
the SEC under the Securities Act and such Registrable Securities have been disposed of by the holder of the Registrable Securities in
accordance with such effective Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule
144, or (c) such securities become eligible for resale without volume or manner-of-sale restrictions and without current public information
pursuant to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Company’s
transfer agent and the affected holder of the security (assuming that such securities and any securities issuable upon exercise, conversion
or exchange of which, or as a dividend upon which, such securities were issued or are issuable, were at no time held by any Affiliate
(as such terms are used in and construed under Rule 405 under the Securities Act) of the Company, as reasonably determined by the Company,
upon the advice of counsel to the Company.

 

5.2
Confidentiality. Except as necessary under the disclosure requirements of securities laws and regulations of the U.S., the Parties
shall hold and shall cause their respective representatives to hold in strict confidence, unless compelled to disclose by judicial or
administrative process or by other requirements of Law, all documents and information concerning the other party furnished to it by such
other party or its representatives in connection with the transactions contemplated by this Agreement (except to the extent that such
information can be shown to have been (a) previously known by the party to which it was furnished, (b) in the public domain through no
fault of such party or (c) later lawfully acquired from other sources, which source is not the agent of the other party, by the party
to which it was furnished), and each party shall not release or disclose such information to any other person, except its representatives
in connection with this Agreement. In the event that any party believes that it is required to disclose any such confidential information
pursuant to applicable Laws, such party shall give timely written notice to the other parties so that such parties may have an opportunity
to obtain a protective order or other appropriate relief. Each party shall be deemed to have satisfied its obligations to hold confidential
information concerning or supplied by the other parties if it exercises the same care as it takes to preserve confidentiality for its
own similar information.

 

    	10

     

    

 

5.3
Notice of Developments. Prior to the Closing, the Subscriber and the Company shall each promptly notify the other in writing of
(a) all events, circumstances, facts and occurrences or non-occurrences arising subsequent to the date of this Agreement which may result
in any breach of a representation or warranty or covenant of either the Subscriber or the Company contained in this Agreement or which
may have the effect of making any representation or warranty of either the Subscriber or the Company contained in this Agreement untrue
or incorrect in any material aspect, and (b) any material development that has an effect on the assets, liabilities, business, or financial
status related to the Company or the Subscriber. The Parties agree to discuss in good faith appropriate measures or solutions to address
such events circumstances, facts and occurrences or non-occurrences or developments.

 

5.4
Further Action. Each of the Parties shall use all reasonable efforts to take, or cause to be taken, all appropriate action, do
or cause to be done all things necessary, proper or advisable under applicable Law, and to execute and deliver such documents and other
papers, as may be required to carry out the provisions of this Agreement and the other Transaction Documents to which it is a party and
consummate and make effective the transactions contemplated hereby and thereby. Each of the Parties agrees that it will not take or cause
to be taken any action that may result in any breach of any of its representations, warranties, covenants or agreements contained in
this Agreement.

 

ARTICLE
VI

Tax
Matters

 

6.1
Tax Liabilities Related to the Subject Transaction. Each of the Company and the Subscriber agrees that each Party shall be liable
for its own tax liabilities arising from the subject transaction.

 

6.2
Tax Cooperation and Information Exchange. The Parties agree that they will cooperate with each other in relation to tax matters,
and each Party shall provide the other Party with the relevant information requested by the other Party in order for the other Party
to complete its necessary tax filing or audit, determine liability for taxes and right to a tax refund, and perform any other tax-related
work.

 

    	11

     

    

 

ARTICLE
VII

Conditions
to Closing

 

7.1
Conditions to Obligations of the Parties. The obligations of each of the Company and the Subscriber to consummate the transactions
contemplated by this Agreement shall be subject to the fulfillment or written waiver by the other Party of each of the following conditions:

 

(a)
All Required Governmental Approvals shall have been obtained. For the avoidance of doubt, the Required Governmental Approvals mentioned
in this Section 7.1(a) shall not include any post-Closing registrations.

 

(b)
There has been no rule under applicable Laws or judgment, injunction, order or decree that prohibits the consummation of the Closing,
or substantively increases the costs of the Company or the Subscriber in connection with the transactions contemplated by this Agreement.

 

7.2
Conditions to Obligations of the Company. The obligations of the Company to consummate the transactions contemplated by this Agreement
shall be subject to the fulfillment or written waiver by the Company, at or prior to the Closing, of each of the following conditions:

 

(a)
The representations and warranties of the Subscriber contained in this Agreement shall be true and correct when made in all material
respects and shall be true and correct in all material respects as of the Closing, with the same force and effect as if made at the Closing
(except to the extent that such representations and warranties were made as of other date, in which case such representations and warranties
shall have been true and correct as of such date).

 

(b)
Where the Subscriber is an entity, the Subscriber shall have delivered to the Company a copy of a resolution of the board of directors
of the Subscriber (certified by a duly appointed officer as true and correct) authorizing the execution of and the performance by the
Subscriber of its obligations under this Agreement and the Transaction Documents.

 

(c)
The Subscriber shall have performed all of its covenants and agreements required by this Agreement to be so performed by it, prior to
or on the Closing, and where the Subscriber is an entity, the Company shall have received a certificate of the Subscriber signed by a
duly authorized officer thereof certifying the matters set forth in this Section 7.2(a).

 

7.3
Conditions to Obligations of the Subscriber The obligations of the Subscriber to consummate the transactions contemplated by this
Agreement shall be subject to the fulfillment or written waiver by the Subscriber at or prior to the Closing, of each of the following
conditions:

 

(a)
The representations and warranties of the Company contained in this Agreement shall be true and correct when made in all material respects
and shall be true and correct in all material respects as of the Closing, with the same force and effect as if made at the Closing (except
to the extent that such representations and warranties were made as of other date, in which case such representations and warranties
shall have been true and correct as of such date).

 

(b)
The Company shall have performed all of its covenants and agreements required by this Agreement to be so performed by it, prior to or
on the Closing.

 

    	12

     

    

 

ARTICLE
VIII

Termination

 

8.1
Termination. This Agreement may be terminated at any time prior to the Closing,

 

(a)
by the Subscriber if:

 

(i)
any event or circumstance has occurred that would cause any of the conditions set forth in Section 7.3 not to be satisfied; or

 

(ii)
any representation or warranty made by the Company in this Agreement has been untrue or inaccurate in any material respect, or any covenant
required to be fulfilled prior to the Closing fails to be fulfilled substantively, or the Company fails to comply with any of its covenants
or agreements that would cause any of the conditions set forth in Section 7.3(a) not to be satisfied and such breach has not been cured
by the Company within thirty (30) days upon giving of written notice of such breach by the Subscriber;

 

(b)
by the Company if:

 

(i)
any event or circumstance has occurred that would cause any of the conditions set forth in Section 7.2 not to be satisfied; or

 

(ii)
any representation or warranty made by the Subscriber in this Agreement has been untrue or inaccurate in any material respect, or any
covenant required to be fulfilled prior to the Closing fails to be fulfilled substantively, or the Subscriber fails to comply with any
of its covenants or agreements that would cause any of the conditions set forth in Section 7.2 not to be satisfied and such breach has
not been cured by the Subscriber within thirty (30) days upon giving of written notice of such breach by the Company;

 

(c)
by either the Company or the Subscriber, if the Closing shall not have occurred by December 31, 2023; provided, however, that the right
to terminate this Agreement under this Section 8.1(c) shall not be available to either Party whose failure to fulfill any obligation
under this Agreement shall have been the cause of, or shall have resulted in, the failure of the Closing to occur on or prior to such
date;

 

(d)
by either the Company or the Subscriber, if any Governmental Authority shall have issued any order, decree, decision or shall have taken
any other action, and such order, decree, decision or action that would enjoin or otherwise prohibit the transactions contemplated by
this Agreement shall have become final and non-appealable; or

 

(e)
by the mutual written consent of the Company and the Subscriber.

 

8.2
Effect of Termination. In the event of termination of this Agreement as provided in Section 8.1(d) or (e), this Agreement shall
forthwith become void and there shall be no liability on the part of either Party hereto unless otherwise set forth in this Agreement
or agreed by the Parties. Nothing herein shall relieve either party hereto from liability for any breach of this Agreement and the defaulting
Party shall be liable to the other Party for its losses.

 

    	13

     

    

 

ARTICLE
IX

Indemnification

 

9.1
Indemnification.

 

(a)
Indemnification by the Company. From and after the Closing Date and subject to Section 9.3, the Company shall indemnify and hold
the Subscriber, its Affiliates and their respective directors, officers, agents, successors and assigns (the “Subscriber Indemnitees”)
harmless from and against any losses, claims, damages, liabilities, judgments, fines, obligations, cost and expenses, including but not
limited to any investigative, legal and other expenses (collectively, “Losses”) incurred by any Subscriber Indemnitee as
a result of or arising out of: (i) breach of any representation or warranty of the Company contained in Article 3; or (ii) violation
or nonperformance, partial or total, of any covenant or agreement of the Company contained in this Agreement.

 

(b)
Indemnification by the Subscriber. From and after the Closing Date and subject to Section 10.8, the Subscriber shall indemnify
and hold the Company, its Affiliates and their respective directors, officers, agents, successors and assigns (the “Company Indemnitees”)
harmless from and against any Losses incurred by any Company Indemnitee as a result of or arising out of: (i) breach of any representation
or warranty of the Subscriber contained in Article IV; or (ii) violation or nonperformance, partial or total, of any covenant or agreement
of the Subscriber contained in this Agreement.

 

9.2
Procedures Relating to Indemnification.

 

(a)
Any party seeking indemnification under Section 9.1 (an “Indemnified Party”) shall promptly give the Party from whom
indemnification is being sought (an “Indemnifying Party”) notice of any matter which such Indemnified Party has determined
has given or would reasonably be expected to give rise to a right of indemnification under this Agreement stating in reasonable detail
the factual basis of the claim to the extent known by the Indemnified Party, and containing a reference to the provisions of this Agreement
in respect of which such right of indemnification is claimed or arises; provided that the failure to provide such notice shall
not release the Indemnifying Party from any of its obligations under this Article IX except to the extent the Indemnifying Party is materially
prejudiced by such failure. With respect to any recovery or indemnification sought by an Indemnified Party from the Indemnifying Party
that does not involve a Third Party Claim, if the Indemnifying Party does not notify the Indemnified Party within thirty (30) days from
its receipt of the notice from the Indemnified Party that the Indemnifying Party disputes such claim, the Indemnifying Party shall be
deemed to have accepted and agreed with such claim. If the Indemnifying Party has disputed a claim for indemnification (including any
Third Party Claim), the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution to such dispute.
If the Indemnifying Party and the Indemnified Party cannot resolve such dispute in thirty (30) days after delivery of the dispute notice
by the Indemnifying Party, such dispute shall be resolved by arbitration pursuant to Section 10.10.

 

(b)
If an Indemnified Party shall receive notice of any claim or demand asserted by a third party (each, a “Third Party Claim”)
against it or which may give rise to a claim for Loss under this Article IX, within thirty (30) days of the receipt of such notice, the
Indemnified Party shall give the Indemnifying Party notice of such Third Party Claim; provided that the failure to provide such
notice shall not release the Indemnifying Party from any of its obligations under this Article IX except to the extent that the Indemnifying
Party is materially prejudiced by such failure. If the Indemnifying Party acknowledges in writing its obligation to indemnify the Indemnified
Party hereunder against any Losses that may result from such Third Party Claim, then the Indemnifying Party shall be entitled to assume
and control the defense of such Third Party Claim at its expense and through counsel of its choice if it gives notice of its intention
to do so to the Indemnified Party within fifteen (15) days of the receipt of such notice from the Indemnified Party; provided that
that if there exists or is reasonably likely to exist a conflict of interest that would make it inappropriate in the judgment of the
Indemnified Party in its sole and absolute discretion for the same counsel to represent both the Indemnified Party and the Indemnifying
Party, then the Indemnified Party shall be entitled to retain its own counsel in each jurisdiction for which the Indemnified Party determines
counsel is required, at the Indemnifying Party’s expense. In the event that the Indemnifying Party exercises the right to undertake
any such defense against any such Third Party Claim as provided above, the Indemnified Party shall cooperate with the Indemnifying Party
in such defense and make available to the Indemnifying Party, at the Indemnifying Party’s expense, all witnesses, pertinent records,
materials and information in the Indemnified Party’s possession or under the Indemnified Party’s control relating thereto
as is reasonably required by the Indemnifying Party. Similarly, in the event the Indemnified Party is, directly or indirectly, conducting
the defense against any such Third Party Claim, the Indemnifying Party shall cooperate with the Indemnified Party in such defense and
make available to the Indemnified Party, at the Indemnifying Party’s expense, all such witnesses, records, materials and information
in the Indemnifying Party’s possession or under the Indemnifying Party’s control relating thereto as is reasonably required
by the Indemnified Party. No such Third Party Claim may be settled by the Indemnifying Party without the prior written consent of the
Indemnified Party.

 

9.3
Limitation on the Liability. Absent fraud, intentional misrepresentation or willful breach, the maximum aggregate liabilities
of the Indemnifying Party in respect of Losses suffered by the Indemnified Parties pursuant to Section 9.1(a) or 9.2(b) shall not in
any event be greater than the Purchase Price.

 

    	14

     

    

 

ARTICLE
X

General
Provisions

 

10.1
Expenses. Except as otherwise provided in this Agreement, all costs and expenses, including fees and disbursements of counsel,
financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated by this Agreement shall
be borne by the Party incurring such costs and expenses, whether or not the Closing shall have occurred.

 

10.2
Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be
given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by courier service, by facsimile
or via registered mail to the respective parties hereto. Notices to the Subscriber will be directed to the address of the Subscriber
set forth on the Signature Page of this Agreement and notices to the Company will be directed to the following address:

 

Address
of the Company:

 

Unex
Holdings Inc.

31-A2,
Jalan 5/32A

6
1⁄2 Miles Off Jalan Kepong

52000
Kuala Lumpur, Malaysia

 

10.3
Public Announcements. The Subscriber will not make (and will use its reasonable best efforts to ensure that its Affiliates and
representatives do not make) any news release or public disclosure with respect to this Agreement and any of the transactions contemplated
hereby, without first consulting with the Company and, in each case, also receiving the Company’s consent (which shall not be unreasonably
withheld or delayed); provided that in the event the Subscriber is advised by its outside legal counsel that a particular disclosure
is required by Law, it shall be permitted to make such disclosure but shall be obligated to use its reasonable best efforts to consult
with the Company and take its comments into account with respect to the content of such disclosure before issuing such disclosure. Each
of the Parties hereto shall comply with the requirements on disclosure of interests under the securities exchange laws and regulations
of the U.S.

 

10.4
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any Law or
public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the
economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any
Party hereto. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties
hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties hereto as closely as
possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement are consummated as originally
contemplated to the greatest extent possible.

 

10.5
Entire Agreement; Conflict. This Agreement and other Transaction Documents constitute the entire agreement of the Parties hereto
with respect to the subject matter hereof and thereof and supersede all prior agreements and covenants, both written and oral, between
the Company and the Subscriber with respect to the subject matter hereof and thereof. In case of any conflict between the provisions
of this Agreement and those of any other Transaction Documents, the provisions of this Agreement shall prevail.

 

10.6
Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and permitted assigns, which will become the new parties hereto. Without the express written consent of the Company and the Subscriber
(such consent shall be granted or withheld by the Company or the Subscriber in its own discretion), this Agreement shall not be assigned
by operation of Law or otherwise.

 

    	15

     

    

 

10.7
Amendment. This Agreement may not be amended or modified except (a) by an instrument in writing signed by, or on behalf of, Company
and Subscriber; or (b) by a waiver in accordance with Section 10.7.

 

10.8
Waiver. Either Party to this Agreement may (a) extend the time for the performance of any of the obligations or other acts of
the other Party; (b) waive any inaccuracies in the representations and warranties of the other Party contained herein or in any document
delivered by the other Party pursuant to this Agreement; or (c) waive compliance with any of the agreements of the other Party or conditions
to such obligations contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed
by any Party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or
a subsequent waiver of the same term or condition, or a waiver of any other term or condition of this Agreement. The failure of any Party
hereto to assert any of its rights hereunder shall not constitute a waiver of any of such rights. All rights and remedies existing under
this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

10.9
No Third Party Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of the Parties hereto and their
respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person
any legal or equitable right, benefit or remedy of any nature whatsoever, except as expressly provided in this Agreement.

 

10.10
Governing Law; Arbitration. This Agreement and all questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by and construed in accordance with the laws of the state of New York without giving effect to any
choice or conflict of law provision or rule thereof. Each of the Company and the Subscriber hereby submits to the exclusive jurisdiction
of the United States federal and state courts located in New York, New York, with respect to any dispute arising under the Transaction
Documents or the transactions contemplated thereby.

 

10.11
Counterparts. This Agreement may be executed and delivered (including by facsimile) in one or more counterparts, and by the Parties
hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall
constitute one and the same agreement.

 

[The
remainder of this page intentionally left blank; Signature Page to follow]

 

    	16

     

    

 

Date:
February 15, 2022

 

	Number Of Shares of Common Stock Subscribed
    For: 74,074
	 
	Purchase Price Per Share: US$2.50 (or equivalent
    in S$/MYR________________)
	 
	Aggregate Purchase Price: US$________________(or
    equivalent in S$/MYR_________________)
	 
	_______________________________________

    Passport/National
    Registration Identity Card (NRIC)

     
	_______________________________________

    Signature
    of Subscriber

     

	As
        (check one)

    ____
    Individual

    ____
    Tenants in Common

    ____
    Existing Partnership

    ____
    Joint Tenants

    ____
    Corporation

    ____
    Trust

    ____
    Other

     
	Capacity in which signed: 
	Subscriber’s
        name and business address

    (please
    type or print)

    _______________________________________

    _______________________________________

    _______________________________________

    _______________________________________

     
	Subscriber’s
        mailing address

    (if
    different than business address)

    _______________________________________

    _______________________________________

    _______________________________________

    _______________________________________

     

	_______________________________________

    Passport/National
    Registration Identity Card (NRIC)
	_______________________________________

    Signature
    of Co-Subscriber

	 	 
	Co-Subscriber’s
        name and business address

    (please
    type or print)

    _______________________________________

    _______________________________________

    _______________________________________

     
	Co-Subscriber’s
        mailing address

    (if
    different than business address)

    _______________________________________

    _______________________________________

    _______________________________________

     

	Accepted:

     

    UNEX
    HOLDINGS INC.

     
	 
	By:

     

    _______________________________________

     
	Date:

     

    _______________________________________

     

 

	Title:	 

 

Signature
page to the UNEX Holdings Inc. Subscription Agreement

 

    	 

     

    

 

UNEX
HOLDINGS INC.

 

III.
INVESTOR QUESTIONNAIRE

 

(for
Non-U.S. Subscribers under Regulation S)

 

    	 

     

    

 

INVESTOR
QUESTIONNAIRE

UNEX
HOLDINGS INC.

 

Confidential
Investor Questionnaire

 

	To:	UNEX HOLDINGS INC.

 

Unex
Holdings Inc., a Nevada corporation (the “Company”), is offering to Non-U.S. persons (the “Offering”),
pursuant to an accompanying Subscription Agreement (the “Subscription Agreement”), shares of Common Stock (the
“Shares”) for an aggregate purchase price of US$______________(or equivalent in Singapore Dollar/Malaysian Ringgit_________________).

 

	I.	SUITABILITY (please
    answer each question)

 

(a)
For an individual Subscriber, please describe your current employment, including the company by which you are employed and its principal
business:

 

(b)
For an individual Subscriber, please describe any college or graduate degrees held by you:

 

(c)
For all Subscribers, please list types of prior investments:

 

(d)
For all Subscribers, please state whether you have you participated in other private placements before:

 

☐
YES ☐ NO

 

(e)
If your answer to question (d) above was “YES”, please indicate frequency of such prior participation in private placements
of:

 

	 	 	Public
    Companies	 	Private
    Companies	 
	 	Frequently	☐	 	☐	 
	 	 	 	 	 	 
	 	Occasionally	☐	 	☐	 
	 	 	 	 	 	 
	 	Never	☐	 	☐	 

 

(f)
For individual Subscribers, do you expect your current level of income to significantly decrease in the foreseeable future:

 

☐
YES ☐ NO

 

(g)
For trust, corporate, partnership and other institutional Subscribers, do you expect your total assets to significantly decrease in the
foreseeable future:

 

☐
YES ☐ NO

 

    	 

     

    

 

(h)
For all Subscribers, do you have any other investments or contingent liabilities which you reasonably anticipate could cause you to need
sudden cash requirements in excess of cash readily available to you:

 

☐
YES ☐ NO

 

(i)
For all Subscribers, are you familiar with the risk aspects and the non-liquidity of investments such as the Securities for which you
seek to subscribe?

 

☐
YES ☐ NO

 

(j)
For all Subscribers, do you understand that there is no guarantee of financial return on this investment and that you run the risk of
losing your entire investment?

 

☐
YES ☐ NO

 

	 	II.	MANNER IN WHICH TITLE
    IS TO BE HELD. (circle one)
	 	 	 
	 	(a)	Individual
	 	(b)	Tenants in Common
	 	(c)	Existing Partnership
	 	(d)	Joint Tenants
	 	(e)	Corporation
	 	(f)	Trust
	 	(g)	Other

 

*If
Securities are being subscribed for by an entity, the attached Certificate of Signatory must also be completed.

 

	III.	Disqualification Events.
	 	 
	1.	Certain Criminal Convictions.
	 	 
	 	Have you been convicted,
    within the past ten (10) years (or five (5) years, in the case of the Company, its predecessors and affiliated issuers), of any felony
    or misdemeanor involving:

 

	 	●	in connection with the
    purchase or sale of any security;
	 	●	involving the making of
    any false filing with the U.S. Securities and Exchange Commission (the “SEC”); or
	 	●	arising out of the conduct
    of the business of an underwriter, broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers
    of securities?

 

☐
YES. If yes, please explain:

 

☐
NO.

 

    	 

     

    

 

	2.	Certain Court Injunctions
    and Restraining Orders.
	 	 
	 	Are you subject to any
    order, judgment or decree of any court of competent jurisdiction that was entered within the past five (5) years and currently restrains
    or enjoins you from engaging in any conduct or practice:

 

	 	●	in connection with the
    purchase or sale of any security;
	 	●	involving the making of
    any false filing with the SEC; or
	 	●	arising out of the conduct
    of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
    of securities?

 

☐
YES. If yes, please explain:

 

☐
NO.

 

	3.	Final Orders of Certain
    State and Federal Regulators.
	 	 
	 	Are you subject to a Final
    Order (as defined below) of state regulators of securities, insurance, banking, savings associations or credit unions; federal banking
    agencies; the Commodity Futures Trading Commission; or the National Credit Union Administration that:

 

	 	●	bars you from:

 

	 	 	●	associating with an entity
    regulated by any of the aforementioned regulators;
	 	 	●	engaging in the business
    of securities, insurance or banking; or
	 	 	●	engaging in savings association
    or credit union activities; or

 

	 	●	constitutes a Final Order
    based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct entered within the past
    ten (10) years?

 

☐
YES. If yes, please explain:

 

☐
NO.

 

The
term “Final Order” means a written directive or declaratory statement issued by a federal or state agency described
in Rule 506(d)(1)(iii) under the Securities Act of 1933 under applicable statutory authority that provides for notice and an opportunity
for a hearing, which constitutes a final disposition or action by that federal or state agency.

 

	4.	SEC Disciplinary Orders.
	 	 
	 	Are you subject to any order of the SEC that currently:

 

	 	●	suspends or revokes your
    registration as a broker, dealer, municipal securities dealer or investment adviser;
	 	●	places limitations on the
    activities, functions or operations of, or imposes civil money penalties on, such person; or
	 	●	bars you from being associated
    with any entity or from participating in the offering of any penny stock?1

 

☐
YES. If yes, please explain:

 

☐
NO.

 

1
A disqualification based on a suspension or limitation of activities expires when the suspension or limitation expires.

 

    	 

     

    

 

	5.	SEC Cease-and-Desist Orders.
	 	 
	 	Are you subject to any
    order of the SEC that was entered within the past five (5) years and currently orders you to cease and desist from committing or
    causing a future violation of:

 

	 	●	any scienter-based (intent-based)
    anti-fraud provision of the federal securities laws (including, for example, but not limited to):

 

	 	 	●	Section 17(a)(1) of the
    Securities Act of 1933,
	 	 	●	Section 10(b) of the Exchange
    Act and Rule 10b-5, and
	 	 	●	Section 15 (c) (1) of the
    Securities Exchange Act); or

 

	 	●	Section 5 of the Securities
    Act of 1933, which generally requires that securities be registered and prohibits the sale of unregistered securities.

 

☐
YES. If yes, please explain:

 

☐
NO.

 

	6.	SRO Suspension/Expulsion.
	 	 
	 	Have you been suspended
    or expelled from membership in, or suspended or barred from association with a member of, a securities self-regulatory organization
    (“SRO”, such as a registered national securities exchange or a registered national or affiliated securities association,
    including FINRA) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

 

☐
YES. If yes, please explain:

 

☐
NO.

 

	7.	SEC Stop Orders.
	 	 
	 	Have you filed (as a registrant
    or issuer), or were you named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC
    that, within the past five (5) years, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption,
    or is currently the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

 

☐
YES. If yes, please explain:

 

☐
NO.

 

    	 

     

    

 

	8.	USPS False Representations Order.
	 	 
	 	Are you subject to a United
    States Postal Service (“USPS”) false representation order entered within the past five (5) years, or are you currently
    subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the USPS to constitute a scheme
    or device for obtaining money or property through the mail by means of false representations?

 

☐
Yes. If yes, please explain:

 

☐
No.

 

IV.
The undersigned is informed of the significance to the Company of the foregoing representations and answers contained in this Questionnaire
contained herein and such answers have been provided under the assumption that the Company will rely on them.

 

V.
The undersigned understands and agrees that the Company may request further information of the undersigned in verification or amplification
of the undersigned’s knowledge of business affairs, the undersigned’s assets and the undersigned’s ability to bear
the economic risk involved in an investment in the securities of the Company.

 

VI.
The undersigned represents to you that (a) the information contained herein is complete and accurate on the date hereof and may be relied
upon by you, (b) the undersigned will notify you immediately of any change in any such information occurring prior to the acceptance
of the subscription and will promptly send you written confirmation of such change. The undersigned hereby certifies that he, she or
it has read and understands the Subscription Agreement related hereto and (c) the undersigned acknowledges that you may be required to
publicly disclose the information provided in this Questionnaire and that he, she or it consents to such public disclosure.

 

VII.
The undersigned represents to you that to the best of the undersigned’s knowledge, none of (i) the undersigned, (ii) any person
controlling or controlled by the undersigned, (iii) if the undersigned is a privately-held entity, any person having a beneficial interest
in the undersigned; or (iv) any person for whom the undersigned is acting as agent or nominee in connection with this investment is a
senior foreign political figure 1, a special interest person 2, or any immediate family member 3 or
close associate 4 of a senior foreign political figure, as such terms are defined in the footnotes below.

 

VIII.
In order for the Company to comply with applicable anti-money laundering/U.S. Treasury Department Office of Foreign Assets Control (“OFAC”)
rules and regulations, Subscriber is required to provide the following information:

 

 

	1	A “senior foreign
    political figure” is defined as a senior official in the executive, legislative, administrative, military or judicial branches
    of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of
    a foreign government-owned corporation. In addition, a “senior foreign political figure” includes any corporation, business
    or other entity that has been formed by, or for the benefit of, a senior foreign political figure.
	2	A “special interest
    person” shall be any individual who is alleged to have been involved in a criminal activity that falls under the following
    categories: corruption, financial crime, trafficking, organized crime, terror, tax crime.
	3	“Immediate family”
    of a senior foreign political figure typically includes the figure’s parents, siblings, spouse, children and in-laws.
	4	A “close associate”
    of a senior foreign political figure is a person who is widely and publicly known to maintain an unusually close relationship with
    the senior foreign political figure and includes a person who is in a position to conduct substantial domestic and international
    financial transactions on behalf of the senior foreign political figure.

 

    	 

     

    

 

	1.	Payment Information

 

	 	(a)	Name and address (including
    country) of the bank from which Subscriber’s payment to the Company is being wired (the “Wiring Bank”):
	 	 	 
	 	(b)	Subscriber’s wiring
    instructions at the Wiring Bank:
	 	 	 
	 	(c)	Is the Wiring Bank located
    in the U.S. or another “FATF Country”*?
	 	 	 
	 	(d)	Is Subscriber a customer
    of the Wiring Bank?

 

*
As of the date hereof, countries that are members of the Financial Action Task Force on Money Laundering (“FATF Country”)
are: Argentina, Australia, Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland,
Italy, Japan, Luxembourg, Mexico, Kingdom of the Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa,
Spain, Sweden, Switzerland, Turkey, United Kingdom and the United States of America.

 

	2.	Additional Information

 

For
Individual Investors:

 

☐
A government issued form of picture identification (e.g., passport or drivers license).

 

☐
Proof of the individual’s current address (e.g., current utility bill), if not included in the form of picture identification.

 

For
Funds of Funds or Entities that Invest on Behalf of Third Parties:

 

☐
A certificate of due formation and organization and continued authorization to conduct business in the jurisdiction of its organization
(e.g., certificate of good standing).

 

☐
An “incumbency certificate” attesting to the title of the individual executing these subscription materials on behalf of
the prospective investor.

 

☐
A completed copy of a certification that the entity has adequate anti-money laundering policies and procedures (“AML Policies and
Procedures”) in place that are consistent with the USA PATRIOT Act, OFAC and other relevant federal, state or non-U.S. anti-money
laundering laws and regulations (with a copy of the entity’s current AML Policies and Procedures to which such certification relates).

 

☐
A letter of reference any entity not located in the U.S. or other FATF Country, from the entity’s local office of a reputable bank
or brokerage firm that is incorporated, or has its principal place of business located, in the U.S. or other FATF Country certifying
that the prospective investor maintains an account at such bank/brokerage firm for a length of time and containing a statement affirming
the prospective investor’s integrity.

 

For
all other Entity Investors:

 

☐
A certificate of due formation and organization and continued authorization to conduct business in the jurisdiction of its organization
(e.g., certificate of good standing).

 

☐
An “incumbency certificate” attesting to the title of the individual executing these subscription materials on behalf of
the prospective investor.

 

☐
A letter of reference from the entity’s local office of a reputable bank or brokerage firm that is incorporated, or has its principal
place of business located, in the U.S. or other FATF Country certifying that the prospective investor maintains an account at such bank/brokerage
firm for a length of time and containing a statement affirming the prospective investor’s integrity.

 

☐
If the prospective investor is a privately-held entity, a certified list of the names of every person or entity who is directly or indirectly
the beneficial owner of 25% or more of any voting or non-voting class of equity interests of the Subscriber, including (i) country of
citizenship (for individuals) or principal place of business (for entities) and, (ii) for individuals, such individual’s principal
employer and position.

 

☐
If the prospective investor is a trust, a certified list of (i) the names of the current beneficiaries of the trust that have, directly
or indirectly, 25% or more of any interest in the trust, (ii) the name of the settlor of the trust, (iii) the name(s) of the trustee(s)
of the trust, and (iv) the country of citizenship (for individuals) or principal place of business (for entities).

 

	VIII.	ADDITIONAL INFORMATION.

 

A
TRUST MUST ATTACH A COPY OF ITS DECLARATION OF TRUST OR OTHER GOVERNING INSTRUMENT, AS AMENDED, AS WELL AS ALL OTHER DOCUMENTS THAT AUTHORIZE
THE TRUST TO INVEST IN THE SECURITIES. ALL RESOLUTIONS AND DOCUMENTATION MUST BE COMPLETE AND CORRECT AS OF THE DATE HEREOF.

 

	IX.	INFORMATION VERIFICATION
    CONSENT.

 

BY
SIGNING THIS QUESTIONNAIRE, SUBSCRIBER HEREBY GRANTS THE COMPANY PERMISSION TO REVIEW ALL PUBLICLY AVAILABLE INFORMATION REGARDING SUBSCRIBER,
INCLUDING, BUT NOT LIMITED TO INFORMATION PROVIDED BY OFAC FOR THE PURPOSE OF VERIFYING INFORMATION PROVIDED BY SUBSCRIBER HEREIN.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

     

    

 

INVESTOR
QUESTIONNAIRE EXECUTION PAGE

 

	 	 	 
	Signature	 	Signature (if purchasing jointly)
	 	 	 
	 	 	 
	Name Typed or Printed	 	Name Typed or Printed
	 	 	 
	 	 	 
	Entity Name	 	Entity Name
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 
	City, State and Country	 	City, State and Country

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