Document:

EX-4.4

 Exhibit 4.4 

DATED OCTOBER 2, 2020 
  

 
 AMENDED AND RESTATED WARRANT
INSTRUMENT 
 Radius Global Infrastructure, Inc. 

(f/k/a Digital Landscape Group, Inc., f/k/a Landscape Acquisition Holdings Limited) 

 
  

 TABLE OF CONTENTS 

 

							
	1.	  	DEFINITIONS AND INTERPRETATION	  	 	3	 
			
	2.	  	CONSTITUTION AND FORM OF WARRANTS	  	 	7	 
			
	3.	  	WARRANT CERTIFICATES	  	 	8	 
			
	4.	  	EXERCISE OF WARRANTS	  	 	8	 
			
	5.	  	UNDERTAKINGS	  	 	11	 
			
	6.	  	ADJUSTMENT OF SUBSCRIPTION RIGHTS	  	 	11	 
			
	7.	  	MANDATORY REDEMPTION	  	 	11	 
			
	8.	  	GENERAL OFFERS AND LIQUIDATION	  	 	12	 
			
	9.	  	TRANSFER AND TITLE	  	 	12	 
			
	10.	  	MEETINGS OF WARRANTHOLDERS	  	 	13	 
			
	11.	  	MODIFICATIONS	  	 	14	 
			
	12.	  	PURCHASE, SURRENDER AND CANCELLATION	  	 	15	 
			
	13.	  	AVAILABILITY OF INSTRUMENT AND NOTICES	  	 	15	 
			
	14.	  	PURCHASE OF CLASS A COMMON SHARES BY THE COMPANY	  	 	16	 
			
	15.	  	RIGHTS OF HOLDERS	  	 	16	 
			
	16.	  	ENFORCEMENT	  	 	16	 
			
	17.	  	GOVERNING LAW	  	 	16	 
		
	 SCHEDULE 1
	  	 	18	 
		
	 FORM OF WARRANT CERTIFICATE
	  	 	18	 
		
	 SCHEDULE 2
	  	 	25	 
		
	 REGISTRATION, TRANSFER AND TRANSMISSION
	  	 	25	 
		
	 SCHEDULE 3
	  	 	28	 
		
	 REGISTRAR
	  	 	28	 

  
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 THIS AMENDED AND RESTATED WARRANT INSTRUMENT (this “Instrument”) is entered
into by RADIUS GLOBAL INFRASTRUCTURE, INC., a Delaware corporation (f/k/a Digital Landscape Group, Inc., f/k/a Landscape Acquisition Holdings Limited) (the “Company”), and Computershare Inc., a Delaware corporation
(“Computershare”), and its wholly-owned subsidiary, Computershare Trust Company, N.A., a federally chartered trust company (“CTCNA”, and collectively with Computershare, the “Registrar”) 

BACKGROUND 
  

	(A)	 By a resolution of the board of directors of the Company (the “Board”) passed on
14 November 2017 the Board authorised the issue by the Company of up to 50,025,000 Warrants (as defined below) on the terms and subject to the conditions set out in the Original Warrant Instrument (as defined below). 

 

	(B)	 On 15 November, 2017, the Company executed the warrant instrument, dated such date (the “Original
Warrant Instrument”), relating to the issue of the Warrants and pursuant to which the Company created and constituted 50,025,000 warrants to subscribe for Ordinary Shares (as defined in the Original Warrant Instrument) on the terms and
subject to the conditions of the Original Warrant Instrument. 

  

	(C)	 On October 2, 2020, the Company effected a discontinuance under Section 184 of the BVI Business Companies
Act, 2004, as amended, and a domestication under Section 388 of the General Corporation Law of the State of Delaware, pursuant to which the Company’s jurisdiction of incorporation was changed from the British Virgin Islands to the State of
Delaware (the “Domestication”). Effective upon the Domestication, the Company was renamed “Radius Global Infrastructure, Inc.”. 

  

	(D)	 In the Domestication, (i) all the issued and outstanding ordinary shares, of no par value, of the Company
(the “BVI Ordinary Shares”) were automatically converted, by operation of law, into shares of Class A common stock, par value $0.0001 per share (“Delaware Class A Common Shares”), of the
Company and (ii) the Warrants issued under the Original Warrant Instrument automatically became warrants to acquire Delaware Class A Common Shares pursuant to the terms thereof. 

 

	(E)	 Pursuant to its terms, the Original Warrant Instrument may be modified by an instrument in writing, executed by
the Company and expressed to be supplemental to thereto, provided that such modification is of a formal, minor or technical nature or a modification deemed necessary or desirable by the Directors (as defined herein) in their absolute discretion
(acting in good faith) and which the Directors determine in their absolute discretion (acting in good faith) does not adversely affect the interests of Warrantholders (as defined therein). 

 

	(F)	 By a written consent of the Board dated October 2, 2020, the Directors authorized the adoption of certain
formal, minor or technical modifications to the Original Warrant Instrument as well as certain modifications thereto deemed by the Directors to be necessary or desirable and not to adversely affect the interest of the Warrantholders (as defined in
the Original Warrant Instrument), in each case in connection with the Domestication, which modifications are reflected in this Instrument. 

  

	(G)	 In connection with the Domestication, the Company has filed, with the U.S. Securities and Exchange Commission,
a registration statement on Form S-4 (Registration No. 333-240173), as amended, for the registration under the Securities Act of 1933, as amended (the
“Securities Act”), of, among other things, the offering and sale of Delaware Class A Common Shares, the Warrants and the Delaware Class A Common Shares issuable upon exercise of the Warrants. 

 

	(H)	 The Company desires the Registrar to act on behalf of the Company, and the Registrar has agreed to so act, in
connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants in accordance with the express terms of this Instrument. 

 

	(I)	 The Company has accordingly determined to execute this Instrument to set out the rights and interests of the
Warrantholders (as defined herein), and the Company and the Registrar have each done and performed all acts and things on its respective behalf which are necessary to authorize the execution and delivery of this Instrument. 

  
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 OPERATIVE PROVISIONS 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1.	 In this Instrument: 

“Acquisition” means the acquisition by the Company of AP WIP Investments Holdings, LP, a Delaware limited partnership,
(including its subsidiary AP WIP Investments, LLC and its subsidiaries) for consideration of approximately $859,500,000, consisting of cash, shares and assumption of debt, which was completed on February 10, 2020; 

“Adjustment Percentage” has the meaning given in Clause 6.1; 

“Admission” means the admission on 15 November, 2017 of the BVI Ordinary Shares and Warrants to trading on the London
Stock Exchange’s main market for listed securities; 
 “Articles” means the Certificate of Incorporation and Bylaws of
the Company, in each case as amended from time to time; 
 “Average Price” means for any security, as of any date or
relevant period (as applicable): (i) in respect of Class A Common Shares or any other security, the volume weighted average price for such security on Nasdaq as reported by Bloomberg through its “Volume at Price” functions;
(ii) if Nasdaq is not the principal securities exchange or trading market for that security, the volume weighted average price of that security on the principal securities exchange or trading market on which that security is listed or traded as
reported by Bloomberg through its “Volume at Price” functions; (iii) if the foregoing do not apply, the last closing trade price of that security in the over the counter market on the electronic bulletin board for that security as
reported by Bloomberg; or (iv) if no last closing trade price is reported for that security by Bloomberg, the last closing ask price of that security as reported by Bloomberg. If the Average Price cannot be calculated for that security on that
date on any of the foregoing bases, the Average Price of that security on such date shall be the fair market value as mutually determined by the Company and the Warrantholders representing a majority of the Class A Common Shares outstanding
under the Warrants (acting reasonably); 
 “business day” means any day (excluding a Saturday or a Sunday) on which banks in
New York City and, if the Registrar is not located in New York City, New York, the United States city or non-United States country of location of the Registrar (or such other person as has been notified to the
Warrantholders in accordance with Clause 4.2) are open for business; 
 “Class A Common Shares” means
(i) the ordinary shares of no par value each in the capital of the Company (which for these purposes, for the avoidance of doubt, shall include the Company in such form as it exists following any continuation, merger, consolidation or similar
action under the laws of the British Virgin Islands, the State of Delaware or any other relevant jurisdiction) and (ii) any capital shares into which such ordinary shares shall have been changed (including, for the avoidance of doubt, following
any continuation, merger, consolidation or similar action under the laws of the British Virgin Islands, the State of Delaware or any other relevant jurisdiction) or any share capital resulting from a reclassification of such ordinary shares.
For the avoidance of doubt, the “Class A Common Shares” shall include the Delaware Class A Common Shares and any capital shares into which such Delaware Class A Common Shares shall have been changed or any share capital
resulting from a recapitalization thereof; 
 “Definitive Warrant” means a Warrant Certificate in definitive form that is
not deposited with the Depositary or with the Registrar as the Warrant Custodian; 
 “Depositary” means The Depository Trust
Company, its nominees and their respective successors; 
 “Directors” means the directors of the Company from time to time;

 “Exchange Act” means the US Securities Exchange Act of 1934, as amended; 

“Exercise Price” means $11.50 per Class A Common Share (or such adjusted price as may be determined from to time in
accordance with the provisions of Clause 6 (Adjustment of Subscription Rights)), which is the aggregate amount payable for each Minimum Exercise Amount; 

“Extraordinary Resolution” means either (a) a resolution passed at a meeting of the Warrantholders duly convened and held
and carried by a majority consisting of not less than three-fourths of the votes cast upon a show of hands or, if a poll is duly demanded, by a majority of not less than three-fourths of the votes cast

  
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on a poll; or (b) a resolution consented to in writing by or on behalf of Warrantholders representing a majority of not less than three-fourths of the aggregate number of outstanding
Warrants in issue and who for the time being are entitled to receive notice of and vote at a meeting of Warrantholders; 
 “Form of
Nomination” means in relation to any Warrant the form of nomination attached to the Warrant Certificate; 
 “Global
Warrant” has the meaning given in Clause 2.4; 
 “London Stock Exchange” means London Stock Exchange plc; 

“Minimum Exercise Amount” means, as of the applicable time of determination, with respect to each exercise of Warrants, the
number of Warrants necessary for a Warrantholder to exercise to receive one whole Class A Common Share upon such exercise as determined by the Board; 

“Nasdaq” means the Nasdaq Global Market (or any successor national stock exchange); 

“Person” means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited
liability company, unincorporated organization, government or any agency, instrumentality or political subdivision thereof or any other form of entity; 

“Portion” means, as of the applicable time of determination, (as applicable) (i) from and after the date hereof through
the time immediately preceding the first adjustment (if any) under Clause 6, one third (1/3rd), (ii) from and after the time of the first adjustment (if any) under Clause 6 until the next
adjustment thereunder, the product of (x) one third (1/3rd) multiplied by (y) the applicable Adjustment Percentage that is calculated in respect of such first adjustment or
(iii) from and after the time of each successive adjustment (if any) under Clause 6, the product of (x) the fraction then in effect as previously determined pursuant to the immediately preceding clause (ii) or this clause (iii) (as
the case may be) multiplied by (y) the applicable Adjustment Percentage that is calculated in respect of such applicable adjustment, subject to adjustment in accordance with Clause 6.3; 

“Redemption Event” has the meaning given in Clause 7.2; 

“Redemption Notice” means the notice to Warrantholders notifying the occurrence of a Redemption Event to be given pursuant to
Clause 7.3; 
 “Redemption Trigger Price” means equal to or greater than $18.00 (subject to adjustment pursuant to Clause
7.4); 
 “Register” means the register of Warrantholders required to be maintained pursuant to Clause 9.1; 

“Registrar” means, collectively, CTCNA and Computershare, or such other person or persons appointed by the Company from time
to time in accordance with the terms hereof to maintain the Register and act as warrant agent in respect of the Warrants; 

“Regulation D” means Regulation D under the Securities Act; 

“Regulation S” means Regulation S under the Securities Act; 

“Rule 144A” means Rule 144A promulgated by the U.S. Securities and Exchange Commission under the Securities Act; 

“Securities Act” means the U.S. Securities Act of 1933, as amended; 

“Subscription Notice” means in relation to any Warrant the notice of subscription attached to the Warrant Certificate; 

“Subscription Period” means, in relation to any Warrant, the period commencing on the date of Admission and ending on the
earlier to occur of (i) 5:00 p.m. (New York City time) on the third anniversary of the completion of the Acquisition and (ii) such earlier date as is set forth in this Instrument, provided that if such day is not a Trading Day, the Trading Day
immediately following such day; 

  
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 “Subscription Rights” means the rights to subscribe for Class A Common
Shares granted by the Company to Warrantholders pursuant to this Instrument; 
 “Trading Day” means a day on which the main
market of Nasdaq (or such other applicable securities exchange or quotation system on which the Class A Common Shares or Warrants are listed) is open for business (other than a day on which the main market of Nasdaq (or such other applicable
securities exchange or quotation system) is scheduled to or does close prior to its regular weekday closing time); 
 “U.S.
Investment Company Act” means the U.S. Investment Company Act of 1940, as amended, and related rules; 
 “U.S.
Person” has the meaning given to the term “U.S. Person” in Regulation S; 
 “Warrant Certificate” means a
certificate evidencing a holding of Warrants in certificated form, which may be either a Definitive Warrant or a Global Warrant, such certificate being in or substantially in the form set out in Schedule 1 (Form of Warrant Certificate); 

“Warrant Custodian” means the custodian with respect to a Global Warrant (as appointed by the Depositary) or any successor
person thereto. 
 “Warrantholder” means in relation to any Warrant, the person or persons who is or are for the time being
the registered holder or joint holders of such Warrant in the Register; and 
 “Warrants” means each of the warrants of the
Company constituted by this Instrument and all rights conferred by this Instrument. 
  

	1.2.	 The Clause headings are inserted for guidance only and shall not affect the meaning or interpretation of any
part of this Instrument. 

  

	1.3.	 Reference to Clauses, sub-Clauses and Schedules in this Instrument are
references to the Clauses, sub-Clauses and Schedules of and to this Instrument. 

  

	1.4.	 References to any statute or statutory provision include references to that statute or statutory provision as
from time to time amended, extended or re-enacted and to any rules, orders, regulations and delegated legislation made thereunder. 

 

	1.5.	 Words importing the singular shall include the plural and vice versa; words importing the masculine shall
include the feminine and neuter and vice versa; words importing persons shall include bodies corporate, unincorporated associations and partnerships. 

  

	1.6.	 Any register, index, minute book or book of account required to be kept by this Instrument shall be kept, and
inspection thereof shall be allowed and copies shall be supplied, in such form and manner and subject to such precautions as would from time to time be permissible or required if it were a register, index, minute book or book of account required to
be kept by the Company pursuant to all applicable laws and regulations and references to such records in the Instrument shall be construed accordingly. 

  

	1.7.	 A Warrant is “outstanding” unless the Subscription Rights attached to such Warrant have been
exercised in full or have lapsed in accordance with the provisions of this Instrument. 

  

	1.8.	 Any reference to “writing” or “written” includes any method of reproducing words or text in
a legible and non-transitory form but, for the avoidance of doubt, shall not include e-mail. 

 

	1.9.	 References to “$” are to the lawful currency of the United States as at the date of this Instrument.

  

	1.10.	 References to times of the day are to that time in New York City and references to a day are to a period of 24
hours running from midnight to midnight. 

  
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	1.11.	 Any reference to “Company” includes the Company in such form as it exists following any continuation,
merger, consolidation or similar action under the laws of the British Virgin Islands, the State of Delaware or any other relevant jurisdiction. 

  

	1.12.	 References to “shares in the capital of” or “share capital” or similar terms in this
Instrument shall be construed so as to include shares in a company which has no share capital but is authorised to issue a maximum or unlimited number of shares. 

 

	1.13.	 References to actions of the Directors shall be deemed to refer to actions of the Board. 

 

	2.	 CONSTITUTION AND FORM OF WARRANTS 

 

	2.1.	 This Instrument amends and restates in its entirety the Original Warrant Instrument, pursuant to which
50,025,000 Warrants were initially created and constituted on the date thereof. 

  

	2.2.	 Each Warrant confers the right (but not the obligation) on the Warrantholder to subscribe for the
applicable Portion of a Class A Common Share during the Subscription Period on the terms and subject to the conditions set out in this Instrument. 

  

	2.3.	 The Company undertakes to comply with the terms and conditions of this Instrument and specifically, but without
limitation, to do all such things and execute all such documents to the extent necessary in order to give effect to the exercise of any Subscription Rights in accordance with this Instrument. The Company hereby appoints the Registrar to act as agent
for the Company for the Warrants in accordance with the express terms and subject to the conditions set forth in this Instrument (and no implied terms or conditions), and the Registrar hereby accepts such appointment. 

 

	2.4.	 Upon the issue of any Warrant, the Company shall enter the person or persons to whom the Warrant is issued into
the Register in respect of such Warrant. The Warrants registered in a Warrantholder’s name will be held in certificated form and will be evidenced by a Warrant Certificate issued by the Company. Notwithstanding the foregoing, some or all of the
Warrants may, at initial issuance or any time thereafter, be represented by one or more permanent global Warrants in definitive, fully registered form, with the global securities legend set forth in Schedule 1 (each, a “Global
Warrant”). Any such Global Warrant shall be deposited on behalf of the relevant Warrantholders with the Registrar, as custodian for the Depositary (or with such other custodian as the Depositary may direct), registered in the name of the
Depositary or a nominee of the Depositary, and duly executed by the Company and countersigned by the Registrar as hereinafter provided. 

  

	2.5.	 The Company shall, upon exercise of all or any of the Warrants in accordance with Clause 4 (Exercise of
Warrants) from time to time during the Subscription Period, including, without limitation, the payment, in full, of the Exercise Price with respect thereto, forthwith allot and issue the number of Class A Common Shares required to be
allotted and issued in accordance with the terms of this Instrument. 

  

	2.6.	 The Warrants are issued subject to the Articles and otherwise on the terms and conditions of this Instrument,
which are binding upon the Company and each Warrantholder and all persons claiming through them. 

  

	2.7.	 If any Warrants are to be represented by a Global Warrant, the Company shall execute and, upon written request
by the Company, the Registrar shall, in accordance with Clause 3, countersign and deliver initially one or more Global Warrants that (i) shall be registered in the name of the Depositary for such Global Warrant or Global Warrants or of the
nominee of the Depositary and (ii) shall be delivered by the Registrar to the Depositary or pursuant to the Depositary’s instructions or held by the Registrar as custodian for the Depositary. Members of, or participants in, the Depositary
(“Agent Members”) shall have no rights under this Instrument with respect to any Global Warrant held on their behalf by the Depositary or by the Registrar as the custodian of the Depositary or under such Global Warrant, and the
Depositary may be treated by the Company, the Registrar and any agent of the Company or the Registrar as the absolute owner of such Global Warrant for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company,
the Registrar or any agent of the Company or the Registrar from giving effect to any written certification, proxy or other authorization furnished by the Depositary, or impair, as between the Depositary and its Agent Members, the operation of
customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Warrant. 

  
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	2.8.	 The Company may assign “CUSIP” numbers (if then generally in use) in connection with the issuance of
the Warrants and the Registrar may use such “CUSIP” numbers in notices as a convenience to Warrantholders; provided, however, that any such Registrar’s notice shall state that no representation is made as to the correctness of such
numbers either as printed on the Warrant Certificates or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Warrant Certificates. 

 

	3.	 WARRANT CERTIFICATES 

 

	3.1.	 Every Warrant Certificate shall be in the form or substantially in the form set out in Schedule 1 (Form of
Warrant Certificate) and shall have endorsed thereon a Subscription Notice and Form of Nomination in the form or substantially in the form set out in Schedule 1 (Form of Warrant Certificate). 

 

	3.2.	 Every Warrantholder shall be entitled without charge to one Warrant Certificate for the Warrants held by him
save that joint holders shall be entitled to one certificate only in respect of the Warrants held by them jointly which certificate shall be delivered to the holder whose name stands first in the Register in respect of such joint holding. The
Company shall not be bound to register more than four persons as joint holders of any Warrants. The holder of any Global Warrant will be the Depositary or a nominee in whose name the Global Warrant is registered. 

 

	3.3.	 Where some but not all of the Warrants comprised in any Warrant Certificate are transferred or exercised in
accordance with the terms of this Instrument, the Company shall issue, free of charge, to the relevant Warrantholder, a fresh Warrant Certificate in accordance with the other provisions of this Instrument for the balance of the Warrants retained by
such Warrantholder. 

  

	3.4.	 All Warrant Certificates shall be executed by or on behalf of the Company. In addition, at any time and from
time to time after the execution of this Instrument, the Registrar shall, upon receipt of a written order of the Company signed by an officer of the Company, countersign, either by manual or facsimile signature, and issue a Warrant Certificate
evidencing the number of Warrants specified in such order. Such order shall specify the number of Warrants to be evidenced on the Warrant Certificate to be countersigned, the date on which such Warrant Certificate is to be countersigned, whether
such Warrant Certificate is to be a Global Warrant or a Definitive Warrant, and the number of Warrants then authorized. Each such Warrant shall be dated the date of its countersignature. 

 

	3.5.	 If a Warrant Certificate is mutilated, defaced, lost, stolen or destroyed, it shall, at the discretion of the
Company and the Registrar, be replaced at the office of the Registrar on payment of such expenses as may reasonably be incurred in connection therewith and on such terms as to evidence, indemnity and/or security as the Company and the Registrar may
reasonably require, including (i) evidence reasonably satisfactory to the Company and the Registrar of such loss, theft or destruction of such Warrant Certificates, including, in the case of lost Warrant Certificates, an affidavit of loss, or
in the case of mutilated Warrant Certificates, the certificate or portion thereof remaining, and (ii) indemnity satisfactory to both the Company and the Registrar (unless waived by the Registrar or the Company, as applicable) and holding the
Registrar and Company harmless. 

  

	4.	 EXERCISE OF WARRANTS 

 

	4.1.	 Subject to this Clause 4 and the terms and conditions of this Instrument, a Warrantholder may exercise all or
any portion of its Subscription Rights for all or any whole number of Class A Common Shares for which he is entitled to subscribe at any time during the Subscription Period. The exercise of Subscription Rights must be made subject to, and in
compliance with, any laws and regulations for the time being in force and upon payment of any taxes, duties and other governmental charges payable by reason of the exercise (other than taxes and duties imposed on the Company). 

 

	4.2.	 No fractions of a Class A Common Share will be issued to a Warrantholder upon exercise of any Warrants
pursuant to this Instrument. Where a Warrantholder purports to exercise Warrants for an aggregate amount (a “Purported Exercise Amount”) that is not equal to a multiple of the Minimum Exercise Amount, such purported exercise will
only be valid in respect of the amount of Warrants which are equal to the largest multiple of the Minimum Exercise Amount which is less than the Purported Exercise Amount (the “Largest Multiple Amount”), and the number of Warrants
equal to the Purported Exercise Amount less the Largest Multiple Amount shall lapse and be cancelled, and such Warrantholder will have no further Subscription Rights in respect of such Warrants. 

  
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	4.3.	 In order to exercise Subscription Rights, whether in whole or in part, Warrantholders must deliver or cause to
be delivered the relevant Warrant Certificate(s) to the Registrar at the address indicated in the Subscription Notice (or to any other person or address otherwise notified to Warrantholders in accordance with Clause 13.2) together with the
Subscription Notice properly completed and duly executed (or any other document(s) as the Company and the Registrar may, in their absolute discretion, accept), together with a remittance in cleared funds for the Exercise Price in respect of the
whole number of Class A Common Shares being acquired with respect to the Warrants being exercised. Once so delivered, a Subscription Notice shall be irrevocable save with the consent of the Board. In the case of a Global Warrant, any person
with a beneficial interest in such Global Warrant shall effect compliance with the requirements of this Clause 4.3 through the relevant Agent Member in accordance with the procedures of the Depositary. 

 

	4.4.	 Warrants will be deemed to be exercised on the business day upon which the Registrar (or such other person as
shall have been notified to Warrantholders in accordance with Clause 13.2) shall have received the relevant documentation and remittance in cleared funds referred to in this Clause 4 (Exercise of Warrants). Subject to Subscription Rights
being validly exercised and value having been received by the Company in respect of the relevant remittance, and subject to Clause 4.6, the Company shall allot the Class A Common Shares to be issued pursuant to the exercise of Subscription
Rights and enter the allottee of such Class A Common Shares in the Company’s register of members not later than 10 days after the date on which such Subscription Rights are exercised. If an adjustment is made pursuant to Clause 6 after the
exercise date but before the relevant Class A Common Shares have been allotted, the Warrantholder will receive such number of Class A Common Shares as it would have received had the exercise taken place following the adjustment taking
effect. 

  

	4.5.	 Subject to clause 4.6, as soon as practicable following the exercise of Subscription Rights in accordance with
the terms of this Instrument and, in any event, not later than 28 days after the date on which such Subscription Rights are exercised, the Company shall issue: 

 

	 	4.5.1.	 a certificate for the Class A Common Shares in the name of such Warrantholder or such other person as may
be named on the Form of Nomination set out in the Warrant Certificate (subject as provided by law and to payment of stamp duty, stamp duty reserve tax or any similar tax as may be applicable, and compliance with the provisions in Clause 9.1 hereof);
and 

  

	 	4.5.2.	 in the event of a partial exercise of Subscription Rights by any Warrantholder, a Warrant Certificate in the
name of such Warrantholder in respect of the balance of the Warrants represented by the relevant Warrant Certificate that remain outstanding. 

The certificate for the Class A Common Shares arising on the exercise of Warrants (together with any balancing Warrant Certificate) will
be dispatched at the risk of the person entitled thereto to the address of such person or (in the case of a joint holding) to that one of them whose name stands first in the Register or relevant Form of Nomination and will be sent by ordinary postal
delivery. 
  

	4.6.	 At any time when the Class A Common Shares are capable of electronic settlement in uncertificated form on
any securities exchange or quotation system on which the Class A Common Shares are traded or quoted, the Class A Common Shares to be issued upon the exercise of Subscription Rights may, at the absolute discretion of the Board and with
written notice thereof to the Registrar, be issued in uncertificated form (whether in the form of depositary interests or otherwise) in such manner as the Company may notify to Warrantholders. 

 

	4.7.	 Every Warrant in respect of which Subscription Rights: 

 

	 	4.7.1.	 have been exercised in full; or 

 

	 	4.7.2.	 have not been exercised (whether in whole or in part) during the Subscription Period, 

shall lapse and be cancelled and Warrantholders will have no further Subscription Rights in respect of such Warrants and such Warrants may not
be re-issued or re-sold. 
  

	4.8.	 Class A Common Shares allotted pursuant to the exercise of Warrants in accordance with the terms of this
Instrument shall be issued fully paid and free from any liens, charges or encumbrances and rights of pre-emption but shall not rank for any dividends or other distributions declared, made or paid on the
Class A 

  
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Common Shares for which the record date is prior to the relevant day on which the Warrants are exercised but, subject thereto, shall rank in full for all dividends and other distributions
declared, made or paid on the Class A Common Shares on or after the relevant day on which the Warrants are exercised and otherwise pari passu in all respects with the Class A Common Shares in issue at that date. 

 

	4.9.	 At any time when the Class A Common Shares are admitted to trading on Nasdaq and/or any other securities
exchange or quotation system, it is the intention of the Company to apply to Nasdaq (or relevant authority for any other securities exchange or quotation system) for the Class A Common Shares allotted pursuant to any exercise of Warrants to be
admitted to Nasdaq or such other securities exchange or quotation system on which the Class A Common Shares are traded or quoted. 

  

	4.10.	 The exercise of Subscription Rights by any holder or beneficial owner of Warrants who is a U.S. Person will be
subject to such requirements, conditions, restrictions, limitations and/or prohibitions as the Company may at any time impose, in its absolute discretion, for the purpose of complying with the securities laws of the United States (including, without
limitation, the Securities Act, the Exchange Act, the U.S. Investment Company Act, and any rules or regulations promulgated under such acts). 

  

	4.11.	 Each person exercising Subscription Rights represents, warrants and agrees, as at the time(s) of such exercise
that it is not a resident of Canada, Australia, Japan or South Africa (or any other jurisdiction where the offer or sale of relevant securities or the exercise of the Warrants and receipt of the Class A Common Shares would violate the relevant
securities laws of such jurisdiction) and is not exercising the Warrants on behalf of any such person. 

  

	4.12.	 The Registrar and the Company reserve the right to delay taking any action on any particular instructions from
the Warrantholder if any of them considers that it needs to do so to obtain further information from the Warrantholder or to comply with any legal or regulatory requirement binding on it (including the obtaining of evidence of identity to comply
with money laundering regulations), or to investigate any concerns they may have about the validity of or any other matter relating to the instruction. 

  

	4.13.	 The Company shall not be obliged to issue and deliver Class A Common Shares pursuant to the exercise of a
Warrant unless (i) such Class A Common Shares have been registered or qualified or deemed to be exempt under the securities laws of the jurisdiction of state of residence of the Warrantholder; (ii) a registration statement under the
Securities Act with respect to the Class A Common Shares is effective, (iii) the Warrantholder provides the Company with reasonable assurance that such Class A Common Shares can be sold, novated or transferred pursuant to Rule 144
(“Rule 144”) or Rule 144A promulgated under the Securities Act (or a successor rule thereto) and the applicable sale of the Class A Common Shares to be made In reliance on Rule 144 is made in accordance with the terms of Rule
144, or (iv) in the opinion of legal counsel to the Company (in consultation with the Registrar), the exercise of the Warrants is exempt from the registration requirements of the Securities Act and such Class A Common Shares are qualified
for sale or exempt from qualification under applicable securities laws of jurisdictions in which the Warrantholder resides. Warrants may not be exercised by, or Class A Common Shares issued or delivered to, any Warrantholder in any state or
other jurisdiction in which such exercise or issue and delivery of Class A Common Shares would be unlawful. In connection with the issuance and delivery of Class A Common Shares in reliance on Rule 144, the Registrar may require the
Company to provide an opinion of counsel reasonably acceptable to the Registrar. 

  

	4.14.	 At any time during the Subscription Period, the Board will have the discretion to refuse to accept a notice of
exercise of Subscription Rights to the extent such exercise may affect the Company’s ability to meet the requirements of the listing rules of the securities exchange or quotation system on which the Class A Common Shares are traded or
quoted; provided, that the Company must provide prompt written notice to the Registrar of any determination under this Clause 4.14. 

  

	4.15.	 In the case of a Global Warrant, whenever some but not all of the Warrants represented by such Global Warrant
are exercised in accordance with the terms thereof and of this Instrument, the Registrar shall record any adjustment thereof in the Register. 

  

	4.16.	 In the event of an exercise of Warrants, the Company hereby instructs the Registrar to record cost basis for
the newly issued Class A Common Shares to be equal to [the Exercise Price thereof]. 

  

	4.17.	 The Registrar shall forward funds received for Warrant exercises in a given month by the 5th business day of
the following month by wire transfer to an account designated by the Company. 

  
 8 

	5.	 UNDERTAKINGS 

Subject to the provisions of Clause 6 and, unless otherwise authorised by an Extraordinary Resolution, whilst any Subscription Rights remain
outstanding, the Company shall at all times maintain all requisite board and shareholder or other authorities necessary to enable the issue of Class A Common Shares (free from any rights of pre-emption)
pursuant to the exercise of all the Warrants outstanding from time to time, including a sufficient number of authorised and unissued Class A Common Shares in its Articles. 

 

	6.	 ADJUSTMENT OF SUBSCRIPTION RIGHTS 

 

	6.1.	 If the Company, at any time while Subscription Rights are outstanding, (i) issues any Class A Common
Shares by way of dividend or distribution to holders of Class A Common Shares (solely in their capacity as holders of Class A Common Shares), (ii) subdivides (by any share split, recapitalization or otherwise) the number of Class A
Common Shares outstanding into a larger number of Class A Common Shares or (iii) consolidates (by consolidation, combination, reverse share split or otherwise) the number of outstanding Class A Common Shares into a smaller number of
Class A Common Shares, then in each such case the Exercise Price shall be divided by the quotient of (x) the number of Class A Common Shares outstanding immediately after such event divided by (y) number of Class A Common
Shares outstanding immediately before such event (the result of such quotient is referred to herein the “Adjustment Percentage”). Any adjustment made pursuant to sub clause (i) shall become effective immediately after the
record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to sub clause (ii) or (iii) shall become effective immediately after the effective date of such subdivision or
consolidation. Following each adjustment to the Exercise Price pursuant to the immediately preceding sub clauses (i), (ii) or (iii), the Portion shall also be adjusted in accordance with the definition thereof so that after such adjustment the
aggregate Exercise Price payable hereunder shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment. 

  

	6.2.	 On any adjustment to the Exercise Price pursuant to this Clause 6, the resultant Exercise Price, if not
an integral multiple of one cent, will be rounded to the nearest cent (0.5 cents being rounded upwards). 

  

	6.3.	 If: 

  

	 	(i)	 the Board determines that an adjustment should be made to the Exercise Price and/or the Portion to which each
Warrant relates as a result of one or more events or circumstances not referred to in Clause 6.1; or 

  

	 	(ii)	 an event which gives or may give rise to an adjustment under Clause 6.1 occurs in circumstances such that the
Board, in its absolute discretion, determines that the adjustment provisions of Clause 6.1 need to be operated subject to some modification in order to give a result which Is fair and reasonable in all the circumstances, 

then the Board may make any adjustment to the Exercise Price and/or Portion or modification to the operation of Clause 6.1 as It determines in
good faith to be fair and reasonable to take account of the relevant event or circumstance and upon determination the adjustment (if any) will be made and will take effect in accordance with the determination. 

 

	6.4.	 On any adjustment to the Exercise Price pursuant to this Clause 6, the Company shall promptly thereafter
deliver to the Registrar a certificate of the Chief Financial Officer (or other such officer as the Registrar may approve) of the Company setting forth the Adjustment Percentage and the Exercise Price after such adjustment and setting forth in
reasonable detail the method of calculation and the facts upon which such calculations are based and setting forth the number of Class A Common Shares (or portion thereof) or other securities or property issuable after such adjustment in the
Exercise Price, upon exercise of a Warrant, which certificate shall be conclusive for all purposes. The Registrar shall have no obligation to determine whether an adjustment under Clause 6 has occurred or to calculate any of the adjustments set
forth herein. 

  

	7.	 MANDATORY REDEMPTION 

 

	7.1.	 Upon the occurrence of the Redemption Event, each Warrant, unless previously exercised or cancelled before the
date set for redemption in accordance with Clause 7.3, will be mandatorily redeemed by the Company for $0.01 per Warrant. 

  
 9 

	7.2.	 The Redemption Event occurs if the Average Price of a Class A Common Share for any ten consecutive Trading
Days is equal to or greater than the Redemption Trigger Price. 

  

	7.3.	 The Company will give the Registrar prompt written notice of the occurrence of the Redemption Event. The
Company will give Warrantholders notice of the Redemption Event having occurred within 20 days of its occurrence In accordance with the terms of this Instrument and will redeem all Warrants falling to be redeemed on the date set by the Redemption
Notice, being a date no longer than 30 days following the occurrence of the Redemption Event. Any Warrant which is exercised before the date set for redemption by the Redemption Notice will not be redeemed. 

 

	7.4.	 On the date set for redemption by the Redemption Notice, the Company shall pay to each holder of Warrants to be
redeemed the amount due in respect of such redemption and upon making such payment the relevant Warrant will be cancelled. 

  

	7.5.	 If the Board determines that an adjustment should be made to the Redemption Trigger Price as a result of
matters such as any subsequent consolidation or subdivision of the Class A Common Shares or issue of Class A Common Shares to shareholders by way of dividend or distribution, the Board shall determine in good faith as soon as practicable
what adjustment (if any) to the Redemption Trigger Price is fair and reasonable and upon determination the adjustment (if any) will be made and will take effect in accordance with the determination. The Company shall provide prompt written notice to
the Registrar of any adjustment under this Clause 7.5, in accordance with and subject to the provisions of Clause 6.4. 

  

	7.6.	 The Company shall provide Computershare with funding if the Registrar is to make any payment to Warrantholders
upon a Redemption Event under this Clause 7. Computershare may request additional funds from the Company from time to time in order to make such payments, and shall have no obligation to make payments unless the Company shall have provided the
necessary funds to pay in full all amounts due and payable with respect thereto. Computershare shall be entitled to make any tax withholdings or deductions from any payment under this Clause 7 that it determines is required under applicable law.

  

	8.	 GENERAL OFFERS AND LIQUIDATION 

 

	8.1.	 While any Subscription Rights remain outstanding, if at any time an offer is made to all holders of
Class A Common Shares (or all such holders other than the offeror and/or any company controlled by the offeror and/or persons acting in concert with the offeror) to acquire all or some of the issued Class A Common Shares and the Company
becomes aware on or before the end of the Subscription Period that as a result of such offer (or as a result of such offer and any other offer made by the offeror) the right to cast a majority of the votes which may ordinarily be cast on a poll at a
general meeting of the Company has or will become vested in the offeror and/or such companies or persons as aforesaid, the Company will give notice to the Registrar and Warrantholders of such vesting within 14 days of it occurring, and each
such Warrantholder will be entitled, at any time within the period of 30 days immediately following the date of such notice, to exercise his Subscription Rights on the terms on which the same could have been exercised If they had been exercisable
and had been exercised on the date of such notice after which time all Subscription Rights will lapse. If any part of such period falls after the end of the Subscription Period, the end of the Subscription Period will be deemed to be the last
business day of that 30 day period. 

  

	8.2.	 [Reserved]. 

  

	8.3.	 If the Company enters into liquidation, all Subscription Rights will lapse on the date of the commencement of
the liquidation. The Company shall provide the Registrar with prompt written notice upon any liquidation. 

  

	9.	 TRANSFER AND TITLE 

 

	9.1.	 Warrants shall be transferable individually and in integral multiples by way of novation by an instrument of
transfer in any usual or common form (including, in the case of a Global Warrant, through the procedures of the Depositary) or such other form as may be approved by or on behalf of the Board (without adversely affecting the Registrar’s rights,
duties, immunities or obligations). The Registrar shall maintain a register of Warrantholders in registered form and the provisions of Schedule 2 (Registration, Transfer and Transmission) relating to the transfer, transmission and registration of
Warrants shall have full effect as if the same had been incorporated in this Instrument. 

  
 10 

	9.2.	 The registered holder of a Warrant shall be treated as its absolute owner for all purposes
notwithstanding any notice of ownership or notice of previous loss or theft or of trust or other interest therein (except as ordered by a court of competent jurisdiction or required by law). The Company shall not (except as stated above) be bound to
recognise any other claim to or interest in any Warrant. 

  

	9.3.	 Notwithstanding anything to the contrary herein, except in the event that a Global Warrant is exchanged and
transferred for Definitive Warrants pursuant to Clause 9.5, a Global Warrant may only be transferred as a whole, and not in part, and only by (x) the Depositary to a nominee of the Depositary, (y) a nominee of the Depositary to the
Depositary or another nominee of the Depositary or (z) the Depositary or any such nominee to a successor Depositary or its nominee. 

  

	9.4.	 Subject to compliance with all applicable laws and regulations for the time being in force, the Company
may make arrangements to enable Warrants to be held in uncertificated form (whether in the form of depositary interests or otherwise) in such manner as the Directors may determine from time to time; provided, that the Company shall provide prompt
written notice thereof to the Registrar and shall not adversely affect the Registrar’s rights, duties, immunities or obligations without the Registrar’s written consent. 

 

	9.5.	 Exchange and Transfer of Global Warrants for Definitive Warrants: 

 

	 	9.5.1.	 Subject to Clause 9.5.4, beneficial interests in a Global Warrant deposited with the Depositary or with the
Registrar as custodian shall be transferred to the beneficial owners thereof in the form of Definitive Warrants in a number equal to the number of Warrants represented by such Global Warrant, in exchange for such Global Warrant, only if such
transfer complies with this Clause 9 (including Clause 9.1) and (i) the Depositary notifies the Company that it is unwilling or unable to continue as depositary for such Global Warrant or if at any time the Depositary ceases to be a
“clearing agency” registered under the Exchange Act and, in each such case, a successor depositary is not appointed by the Company within 90 days of such notice, or (ii) the Company, in its sole discretion, notifies the Registrar in
writing that it elects to cause the issuance of Definitive Warrants under this Instrument. In the event of the occurrence of either of the events specified in the foregoing clauses (i) and (ii), the Company will promptly make available to the
Registrar a reasonable supply of Definitive Warrants. 

  

	 	9.5.2.	 Any Global Warrant that is transferable to the beneficial owners thereof pursuant to this Clause 9.5 shall be
surrendered by the Depositary to the Registrar, to be so transferred, in whole or from time to time in part, without charge, and upon written request, the Registrar shall countersign, by either manual or facsimile signature, and deliver to each
beneficial owner in the name of such beneficial owner, upon such transfer of each portion of such Global Warrant, Definitive Warrants evidencing a number of Warrants equivalent to such beneficial owner’s beneficial interest in the Global
Warrant. The Registrar shall register such transfer in the Warrant Register, and upon such transfer the surrendered Global Warrant shall be canceled by the Registrar. Any such Definitive Warrants shall bear such restrictive legends as the Company
may instruct and in accordance with applicable law. 

  

	 	9.5.3.	 Subject to Clause 9.5.2, the registered holder of a Global Warrant may grant proxies and otherwise authorize
any person, including Agent Members and persons that may hold interests through Agent Members, to take any action that a Warrantholder is entitled to take under this Instrument or the Warrants. 

 

	 	9.5.4.	 The Depositary shall notify the Registrar of the names and the amounts in which the Definitive Warrants will be
issued. Neither the Company nor the Registrar will be liable or responsible for any names or any amounts provided by the Depositary. 

  

	 	9.5.5.	 Notwithstanding anything to the contrary herein, in lieu of issuing a Definitive Warrant to any person, the
Registrar may, upon the Company’s instruction, register Warrants in the name of such person through a Company direct registration system or the Registrar’s other book-entry procedures. 

 

	10.	 MEETINGS OF WARRANTHOLDERS 

 

	10.1.	 All the provisions of the Articles as to general meetings apply mutatis mutandis to meetings of Warrantholders
as though the Warrants were a class of shares forming part of the capital of the Company, but: 

  

	 	10.1.1.	 the necessary quorum Is the requisite number of Warrantholders (present in person or by proxy) entitled to
subscribe for 20% of the aggregate Class A Common Shares into which such outstanding Warrants are exercisable; 

  
 11 

	 	10.1.2.	 every Warrantholder present in person or by proxy at any such meeting is entitled on a show of hands to one
vote and every such Warrantholder present in person or by proxy is entitled on a poll to one vote for each Class A Common Share for which he is entitled to subscribe; 

 

	 	10.1.3.	 any Warrantholder present in person or by proxy may demand or join in demanding a poll; and

  

	 	10.1.4.	 if at any adjourned meeting a quorum as above defined Is not present, the Warrantholder or Warrantholders then
present in person or by proxy are a quorum. 

  

	10.2.	 Without prejudice to the generality of the foregoing, the Warrantholders, by way of Extraordinary Resolution,
shall have power to: 

  

	 	10.2.1.	 sanction any compromise or arrangement proposed to be made between the Company and the Warrantholders or any of
them; 

  

	 	10.2.2.	 sanction any proposal by the Company for modification, abrogation, variation or compromise of, or arrangement
in respect of the rights of the Warrantholders against the Company whether such rights shall arise under this Instrument or otherwise; 

  

	 	10.2.3.	 sanction any proposal by the Company for the exchange or substitution for the Warrants of, or the conversion of
the Warrants into, shares, stock, bonds, debentures, debenture stock, warrants or other obligations or securities of the Company or any other body corporate formed or to be formed; 

 

	 	10.2.4.	 assent to any modification of the conditions to which the Warrants are subject and/or the provisions contained
in this Instrument which shall be proposed by the Company; 

  

	 	10.2.5.	 authorise any person to concur in and execute and do all such documents, acts and things as may be necessary to
carry out and give effect to any Extraordinary Resolution; 

  

	 	10.2.6.	 discharge or exonerate any person from any liability in respect of any act or omission for which such person
may have become responsible under this Instrument; and 

  

	 	10.2.7.	 give any authority, direction or sanction which under the provisions of this Instrument is required to be given
by Extraordinary Resolution. 

 Notwithstanding anything contained in this Clause 10.2, any modification of this Instrument
must be made in accordance with the terms of Clause 11, and the Registrar shall receive prompt written notice of any Extraordinary Resolution affecting the Warrants or this Instrument. 

 

	10.3.	 An Extraordinary Resolution consented to in writing may be contained in one document or several documents in
the same form, each signed by or on behalf of one or more Warrantholders. 

  

	11.	 MODIFICATIONS 

 

	11.1.	 Any modification to this Instrument and any of the rights attached to the Warrants may be effected only by an
instrument in writing, duly executed by each of the Company and the Registrar, and expressed to be supplemental to this Instrument and, save in the case of a modification which is of a formal, minor or technical nature or made to correct a manifest
error or a modification deemed necessary or desirable by the Directors in their absolute discretion (acting in good faith) and which the Directors determine in their absolute discretion (acting in good faith) does not adversely affect the interests
of Warrantholders, only if it shall first have been sanctioned by an Extraordinary Resolution of the Warrantholders. Notwithstanding the foregoing, the Company may lower the Exercise Price (permanently or for limited duration) or extend the duration
of the Subscription Period without the prior sanction, consent or approval of Warrantholders, but must provide prompt written notice thereof to the Registrar. 

 

	11.2.	 A memorandum of every such supplemental Instrument shall be endorsed on this Instrument. 

  
 12 

	11.3.	 As a condition precedent to the Registrar’s execution of any amendment to this Instrument, the Company
shall, at the Registrar’s request, deliver to the Registrar a certificate from a duly authorized officer of the Company that states that the proposed amendment is in compliance with the terms of this Clause 11. Notwithstanding anything
contained in this Instrument, the Registrar shall not be obligated to execute any amendment, supplement or waiver that affects the Registrar’s rights, duties or immunities under this Instrument. 

 

	11.4.	 Notice of every modification to this Instrument shall be given by the Company to the Warrantholders in
accordance with Clause 13.2. 

  

	12.	 PURCHASE, SURRENDER AND CANCELLATION 

 

	12.1.	 The Company may at any time purchase, from one or more Warrantholders, Warrants, whether 

 

	 	12.1.1.	 by tender at any price; or 

 

	 	12.1.2.	 on or through the market; or 

 

	 	12.1.3.	 by private treaty at any price, 

or otherwise, on such terms as the Directors, in their absolute discretion, (acting in good faith) determine provided such purchases are made
in accordance with applicable laws and regulations and the rules of any stock exchange or trading platform on which Warrants are listed or traded. 
  

	12.2.	 The Company shall accept the surrender (for no consideration) of Warrants at any time. 

 

	12.3.	 All Warrants purchased pursuant to Clause 12.1 or surrendered shall be cancelled forthwith and may not be
reissued or sold. The Company shall provide the Registrar with prompt written notice of any purchase of Warrants under Clause 12.1 or surrender of Warrants. 

  

	12.4.	 At such time as all beneficial interests in a Global Warrant have been exchanged for Definitive Warrants,
redeemed, repurchased or canceled, such Global Warrant shall be returned to the Depositary for cancellation or retained and canceled by the Registrar. At any time prior to such cancellation, if any beneficial interest in a Global Warrant is
exchanged for Definitive Warrants, repurchased or canceled, the number of Warrants represented by such Global Warrant shall be reduced and an adjustment shall be made on the books and records of the Registrar (if it is then the Warrant Custodian for
such Global Warrant) with respect to such Global Warrant, by the Registrar, to reflect such reduction. 

  

	13.	 AVAILABILITY OF INSTRUMENT AND NOTICES 

 

	13.1.	 Every Warrantholder shall be entitled to a copy of this Instrument upon written request to the Company.

  

	13.2.	 Any notice or communication by the Company, on the one hand, or the Registrar, on the other hand, to the other
is duly given if in writing (i) when delivered in person, (ii) on the fourth business day following mailing when mailed by first class mail, postage prepaid, (iii) on the first business day following the deposit thereof with the
courier, when sent by overnight delivery by a nationally recognized courier service, or (iv) when receipt has been acknowledged when sent via email (if a notice email address is provided). In each case the notice or communication should be
addressed as follows: 

 If to the Company: 

Radius Global Infrastructure, Inc. 

3 Bala Plaza East, Suite 502 

Bala Cynwyd, PA 19004 
 Attn:
Chief Financial Officer, with a copy to the same address to the attention of General Counsel 
 With a copy to each by e-mail at gbreisinger@rdgi.com and jbirnbaum@rdgi.com 

  
 13 

 If to the Registrar: 

Computershare Trust Company N.A. 

150 Royall Street 
 Canton, MA
02021 
 Attention: Client Services 

The Company or the Registrar by notice to the other may designate additional or different addresses for subsequent notices or communications.

 Any notice or communication by a Holder to the Registrar or the Company shall be given in accordance with this Clause 13.2. 

 

	13.3.	 Where this Instrument provides for notice, the notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Warrantholders must be filed with the Registar, but such filing is not a condition precedent to the validity of any
action taken in reliance upon such waivers. 

  

	13.4.	 Notices to be given to Warrantholders pursuant to the provisions of this Instrument shall be given in
accordance with paragraph 3 of Schedule 2 (Registration, Transfer and Transmission). 

  

	13.5.	 The Company will use reasonable endeavours to give written notice to each Warrantholder and the Registrar at
least fifteen calendar days prior to the date on which the Company closes its books or takes a record (A) with respect to any distribution on the Class A Common Shares or (B) for determining rights to vote with respect to any
voluntary dissolution or voluntary liquidation of the Company. 

  

	14.	 PURCHASE OF CLASS A COMMON SHARES BY THE COMPANY 

The Company may at any time purchase Class A Common Shares, or arrange for the purchase of Class A Common Shares on its behalf or by
any other member of its group, and whether by way of tender offer, without requiring, in each case, the consent of Warrantholders for such purchase. 
  

	15.	 REGISTRAR 

The Registrar undertakes the express duties and obligations imposed by this Instrument upon the terms and conditions set forth in Schedule 3
hereto, which is incorporated by reference and made a part of this Instrument in its entirety. 
  

	16.	 RIGHTS OF HOLDERS 

Holders of unexercised Warrants, as such, have no rights as stockholders and are not entitled to exercise any rights whatsoever as stockholders
of the Company, including, but not limited to the rights to (i) receive dividends or other distributions, (ii) receive notice of or vote at any meeting of the stockholders, (iii) consent to any action of the stockholders,
(iv) receive notice of any other proceedings of the Company or (v) exercise any preemptive right. 
  

	17.	 ENFORCEMENT 

  

	17.1.	 The Company acknowledges and covenants that the benefit of the covenants, obligations and conditions on the
part of or binding upon it contained in this Instrument and the Schedules hereto shall enure to the benefit of each and every Warrantholder. 

  

	17.2.	 Each Warrantholder shall be entitled to enforce the said covenants, obligations and conditions against the
Company insofar as such Warrantholder’s Warrant is concerned, without the need to join the allottee of any such Warrant or any intervening or other Warrantholder in the proceedings for such enforcement. 

 

	17.3.	 Nothing in this Instrument is intended or shall be construed to confer upon any person other than the Company,
the Registrar and the Warrantholders any right, remedy or claim under or by reason of this Instrument or any part hereof. 

  
 14 

	18.	 GOVERNING LAW 

 

	18.1.	 This Instrument and the Warrants and any dispute or claim arising out of or in connection with any of them or
their subject matter or formation (including non-contractual disputes or claims) shall be governed by, and construed in accordance with, the law of the State of Delaware (without giving effect to the choice of
law provisions thereof). 

  

	18.2.	 The Company and the Warrantholders (but not the Registrar) agree that the courts of the State of Delaware
shall, to the extent permitted by law and consistent with the Articles, have exclusive jurisdiction to settle any dispute or claim between them arising out of or in connection with this Instrument or any Warrant or their subject matter or formation
(including non-contractual disputes or claims). 

  

	19.	 FORCE MAJEURE 

Notwithstanding anything to the contrary contained herein, the Registrar will not be liable for any delays or failures in performance resulting
from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, epidemics, pandemics, shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to
power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest. 
  

	20.	 CONFIDENTIALITY  

The Registrar and the Company agree that all books, records, information and data pertaining to the business of the other party, including but
not limited to, personal, non-public information about the Warrantholders, which are exchanged or received pursuant to the negotiation or the carrying out of this Instrument including the fees for services
agreed upon by the parties hereto shall remain confidential, and shall not be voluntarily disclosed to any other Person, except (a) as may be required by law or regulation, including, without limitation, pursuant to subpoenas from state or
federal government authorities (e.g., in divorce and criminal actions) and (b) to its officers, affiliates, agents, subcontractors and employees to the extent reasonably necessary to perform its duties and obligations under this
Instrument (provided such disclosure is not prohibited by applicable law). 
  

	21.	 BANK ACCOUNTS 

All funds received by Computershare under this Instrument that are to be distributed or applied by Computershare in the performance of Services
(the “Funds”) shall be held by Computershare as agent for the Company and deposited in one or more bank accounts to be maintained by Computershare in its name as agent for the Company. Until paid pursuant to the terms of this
Instrument, Computershare will hold the Funds through such accounts in: deposit accounts of commercial banks with Tier 1 capital exceeding $1 billion or with an average rating above investment grade by S&P (LT Local Issuer Credit Rating),
Moody’s (Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). Computershare shall have no responsibility or liability for any diminution of the Funds that may result from any deposit
made by Computershare in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. Computershare may from time to time receive interest, dividends or other earnings in
connection with such deposits. Computershare shall not be obligated to pay such interest, dividends or earnings to the Company, any holder or any other party. 
  

	22.	 FURTHER ASSURANCES 

The Company shall perform, acknowledge and deliver or cause to be performed, acknowledged and delivered all such further and other acts,
documents, instruments and assurances as may be reasonably required by the Registrar for the carrying out or performing by the Registrar of the provisions of this Instrument. 
  

	23.	 SEVERABILITY 

In case any provision in this Instrument or in the Warrants is invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions will not in any way be affected or impaired thereby; provided, however, that if such prohibited and invalid provision shall adversely affect the rights, immunities, liabilities, duties or obligations of the Registrar, the
Registrar shall be entitled to resign upon ten (10) days’ written notice to the Company. 

  
 15 

	24.	 COUNTERPARTS 

The parties hereto may sign any number of copies of this Instrument. Each signed copy shall be deemed an original, but all of them together
represent the same agreement. A signature to this Instrument executed/transmitted electronically will have the same authority, effect and enforceability as an original signature. 

[Signature Pages Follow] 

  
 16 

 IN WITNESS THEREOF this Instrument has been executed by the parties hereto and delivered on the date
first written above. 
  

	
	RADIUS GLOBAL INFRASTRUCTURE, INC.
	
	 /s/ Scott G. Bruce

	By: Scott G. Bruce
	Title: President

  

	
	COMPUTERSHARE, INC.
	COMPUTERSHARE TRUST COMPANY, N.A.,
	as Registrar
	
	 /s/ Collin Ekeogu

	By: Collin Ekeogu
	Title: Manager, Corporate Actions

  
 17 

 SCHEDULE 1 

FORM OF WARRANT CERTIFICATE 
 [UNLESS THIS
GLOBAL WARRANT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL WARRANT SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE WARRANT INSTRUMENT REFERRED TO
BELOW.]1 
 THE SECURITIES REPRESENTED BY THIS [WARRANT CERTIFICATE][GLOBAL WARRANT] (INCLUDING THE
SECURITIES ISSUABLE UPON THE EXERCISE OF ANY WARRANT) ARE SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THE AMENDED AND RESTATED WARRANT INSTRUMENT DATED [•], 2020, EXECUTED BY THE COMPANY AND COMPUTERSHARE INC. AND COMPUTERSHARE TRUST
COMPANY, N.A., COLLECTIVELY AS REGISTRAR (THE “WARRANT INSTRUMENT”). COPIES OF SUCH INSTRUMENT MAY BE OBTAINED BY THE HOLDER HEREOF AT THE OFFICES OF THE REGISTRAR AT THE ADDRESS BELOW (OR SUCH OTHER PLACE AS THE REGISTRAR MAY
APPOINT). 
  

			
	No. of Certificate:	  	[●]
		
	Number of Warrants:	  	[●]
		
	Date of issue:	  	[●]

 Warrants to subscribe for class A common share(s), par value $0.0001 per share, in 

RADIUS GLOBAL INFRASTRUCTURE, INC. 
 This
is to certify that [●] 
 of [●] 
 is/are the
registered holder(s) of [●] Warrants in Radius Global Infrastructure, Inc. issued pursuant to and in accordance with the terms of the Warrant Instrument (as from time to time amended) executed by Radius Global Infrastructure, Inc. Words and
expressions used in this Warrant Certificate and the Subscription Notice shall have the same meanings as in the Warrant Instrument. 
 The registered holder
is entitled in respect of every one Warrant held to subscribe for the applicable Portion of a Class A Common Share during the Subscription Period on the terms and conditions set forth in the Warrant Instrument. At the date of issue of this
certificate, the applicable Portion is [one-third][insert applicable Portion if there has been a prior adjustment] of a Class A Common Share. 

Warrants are exercisable only as specified in Clause 4 of the Warrant Instrument. 

Transfer of any of the Warrants comprised herein will not be registered without production of this Warrant Certificate and compliance with Clause 9 of the
Warrant Instrument. 
  

	1 	 To be included in the case of a Global Warrant. 

  
 18 

 The Warrant Instrument is enforceable severally by each Warrantholder and is available for inspection at the
offices of the Registrar’s at the address below (or such other place as the Registrar may appoint) until the end of the Subscription Period. 
 The
holder in whose name this Warrant Certificate is registered may be deemed and treated by the Company and the Registrar as the absolute owner of the Warrant Certificate for all purposes whatsoever and neither the Company nor the Registrar shall be
affected by notice to the contrary. 
 The Warrants do not entitle any holder hereof to any of the rights of a stockholder of the Company. 

Executed by the Company and Countersigned by the Registrar on [●] 20[●]. 

 

	
	RADIUS GLOBAL INFRASTRUCTURE, INC.
	
	  

	By:
	Title:

  

	
	COMPUTERSHARE, INC.
	COMPUTERSHARE TRUST COMPANY, N.A.,
	as Registrar
	
	  

	By:
	Title:

 The address for the Registrar is: 

Computershare Trust Company, N.A. 

150 Royall St. 
 Canton, MA
02021 

  
 19 

 SUBSCRIPTION NOTICE 

In order to exercise all or any of the Warrants represented by this Warrant Certificate the certificate should be submitted with this Subscription Notice duly
completed and signed, together with the payment in cleared funds referred to below, to Computershare Inc. (the Registrar), delivered to the following address (or such other place as the Registrar may appoint): 

Computershare Trust Company, N.A. 

150 Royall St. 
 Canton, MA
02021 
  

	To:	 The Board of Directors, Radius Global Infrastructure, Inc. 

I/We the undersigned, being the registered holder(s) of the Warrants comprised in this Warrant Certificate (and the several Warrant Certificates (if any)
enclosed with this Subscription Notice) hereby give(s) notice of his/their wish to exercise [            ] Warrant(s) to subscribe for
[            ] Class A Common Shares in Radius Global Infrastructure, Inc. in accordance with the provisions of the Warrant Instrument. 

I/We enclose payment for $[            ] in favour of Radius Global Infrastructure, Inc. being the
aggregate payment of the full subscription price for the total number of such Warrants.* 
  

	*	 Please contact the Registrar if you wish to pay by way of electronic transfer. 

I/We represent, warrant and agree: I/We am/are not a resident of Canada, Australia, Japan or South Africa (or any other jurisdiction where the offer or sale
of relevant securities or the exercise of the Warrants and receipt of the Class A Common Shares would violate the relevant securities laws of such jurisdiction) and am/are not exercising the Warrants on behalf of any such person. 

I/We direct you to allot the registered shares in Radius Global Infrastructure, Inc. issued pursuant hereto to the person(s) whose name(s) and address(es)
is/are set out in the Form of Nomination set out below and who has signed the acceptance set out therein or, if none is set out, to me/us in which event I/we agree to accept such shares subject to the Certificate of Incorporation and Bylaws of
Radius Global Infrastructure, Inc. I/We authorise and request the entry of the name(s) of such persons in the register of shareholders of the Company in respect thereof. 

I/We require the delivery of: 
  

	(a)	 certificates in respect of the Class A Common Shares in Radius Global Infrastructure, Inc. to be allotted
to such persons; and 

  

	(b)	 a Warrant Certificate in the name(s) of such persons for any balance of my/our Warrants remaining exercisable,

 at the risk of such persons to such address as is set out in the Form of Nomination or, if none is set out, to my/our address set out
in the Register of Warrantholders or (in the case of joint holders) to the address of that one whose name stands first in such form of Nomination or (if applicable) Register in respect of the Warrants represented by this Warrant Certificate by
ordinary postal service. 
 Dated 
  

			
	Signature(s)	 	  

		
		 	  

		
		 	  

  
 20 

 GUIDANCE NOTES: 

Exercise of the Warrants represented by this Warrant Certificate may be consolidated with the exercise of Warrants represented by other Warrant Certificates by
the use of only one Subscription Notice, provided that the other Warrant Certificates are attached to the Subscription Notice. 
 In the case of joint
holdings, all joint holders must sign. 

  
 21 

 FORM OF NOMINATION 

Warrants held in definitive or uncertificated form: 

Please insert in BLOCK CAPITALS in the box below the identifying number(s) and full name(s) of the person(s) to whom you wish the Class A Common
Shares arising on the exercise of your Warrants to be allotted and the address to which the certificate for such Class A Common Shares together with any balance certificate for Warrants should be sent and the address of the sole or
first-named Warrantholder. 
  

					
	 Social Security Number(s) / Identifying Number(s):

 

	 Name(s):

 

	 Street Address:

 

	 City, State, Country and Zip Code

 

	  

I/We agree to accept all the fully paid Class A Common Shares of the Company to be allotted to me/us subject to the Certificate of Incorporation and
Bylaws of the Company.
  

	Signed	 	  
	  	 
	 		 
	Dated	 	  
	  	 
	 		 
	 	 	 	  	 

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned
instrument in every particular, without alteration or any change whatsoever. 
  

	
	  

	
	Signature Guaranteed

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Warrant Agent,
which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Warrant Agent in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 If the above box is left blank in the case of Warrants
held in definitive certificated form, the Class A Common Shares will be allotted to the Warrantholder(s) named in the attached Warrant Certificate and the certificate for such Class A Common Shares together with any balance Warrant
Certificate will be sent to the registered address of the sole or first-named Warrantholder. 
 Please contact your broker or other Agent Member for
instructions if your Warrants are held in book-entry form through the Depositary 

  
 22 

 SCHEDULE 2 

REGISTRATION, TRANSFER AND TRANSMISSION 
  

	1.	 REGISTRATION AND TITLE 

 

	1.1	 An accurate register of the Warrants (the “Register”) will be kept by the Registrar and there
shall be entered in the Register: 

  

	 	1.1.1	 the names and addresses of the Warrantholders; 

 

	 	1.1.2	 the amount of Warrants held by every registered holder; and 

 

	 	1.1.3	 the date upon which the name of every such registered holder is entered in respect of the Warrants standing in
his name. 

  

	1.2	 Any change of name or address on the part of a Warrantholder shall forthwith be notified to the Registrar at
its office at Computershare Trust Company, N.A., 150 Royall St., Canton, MA 02021 (or such other office designated by the Registrar from time to time) who shall cause the Register to be altered accordingly. The Company may at reasonable times during
office hours to inspect the Register and to take copies of or extracts from the same or any part thereof. 

  

	1.3	 The Company and the Registrar shall be entitled to treat the registered holder of any Warrant as the absolute
owner thereof for all purposes notwithstanding any notice of ownership or writing thereon or notice of previous loss or theft or of trust (whether express or implied) or other interest therein (except as ordered by a court of competent jurisdiction
or required by law) and shall not (except as aforesaid) be bound to recognise any equitable or other claim to or interest in such Warrant. 

  

	1.4	 Every Warrantholder will be recognised by the Company as entitled to his Warrants free from any equity, set-off or cross-claim on the part of the Company against the original or any intermediate holder of the Warrants. 

  

	2.	 TRANSFER 

  

	2.1	 Warrants shall be transferable individually and in integral multiples by way of novation by an instrument of
transfer in any usual or common form (including, in the case of Global Warrants, pursuant to the procedures of the Depositary) or such other form as may be approved by or on behalf of the Board and the Registrar. The instrument of transfer of a
Warrant shall be signed by or on behalf of the transferor and by or on behalf of the transferee. Entry in the Register of a transferee’s name and/or details of Warrants transferred shall be the Company’s and transferor’s agreement in
respect of each novation and upon registration all the rights of the transferor in respect of Warrants transferred shall cease. In consideration of (inter alia) the transferee agreeing to be registered as the holder of Warrants the Company
shall assume such obligations towards the transferee and the transferee shall have such rights in respect of such Warrants as are set out under the terms of this Instrument. The transferor shall be deemed to remain the holder of the Warrant until
the name of the transferee is entered in the Register in respect thereof. The Company shall not be obliged to give effect to any such instrument which purports to transfer any Warrants in respect of which a Subscription Notice shall have been
received. 

  

	2.2	 The Company and the Registrar may decline to recognise any instrument of transfer unless such instrument is
deposited at the office of the Registrar at Computershare Trust Company, N.A., 150 Royall St., Canton, MA 02021 (or such other office designated by the Registrar from time to time) accompanied by the Warrant Certificate to which it relates, and such
other evidence as the Registrar may reasonably require to show the right of the transferor to make the transfer and, if the instrument of transfer is executed by some other person on behalf of the transferor, the authority of that person so to do,
including, if requested by the Registrar, a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association. 

The Registrar may waive production of any Warrant Certificate upon evidence satisfactory to the Registrar of its loss or destruction and/or
upon execution of an appropriate indemnity, including holding the Company and the Registrar harmless. 

  
 23 

	2.3	 No fee shall be charged by the Company in respect of the registration of any Instrument of transfer or probate
or letters of administration or certificate of marriage or death, or power of attorney or other document relating to or affecting the title to any Warrants or otherwise for making any entry in the Register affecting the title to any Warrants (it
being understood that the Warrantholder may be required to pay any transfer taxes in connection with the foregoing). 

  

	2.4	 The registration of a transfer shall be conclusive evidence of the approval by the Company and the Registrar of
the transfer and the Company shall, on registration, issue the transferee with a Warrant Certificate in respect of the Warrants transferred. 

  

	3.	 NOTICES 

  

	3.1	 Every Warrantholder shall register with the Company and the Registrar an address to which copies of notices can
be sent. Any notice or document may be given or served by the Company or Registrar on any Warrantholder either personally or by sending it by post in a prepaid letter addressed to such Warrantholder at his registered address as appearing in the
register or by facsimile transmission to any facsimile number notified by such Warrantholder to the Company. 

  

	3.2	 Any notices given pursuant to the provisions of this Schedule with respect to Warrants standing in the names of
joint holders shall be given to whichever of such persons is named first in the Register and such notice so given shall be sufficient notice to all the holders of such Warrants. 

 

	3.3	 Proof that an envelope containing a notice was properly addressed, prepaid and posted shall be conclusive
evidence that the notice was given. A notice shall be deemed to be given at the expiration of forty-eight hours after the envelope containing it was posted. Any notice given by facsimile transmission shall be deemed to have been served at the time
of transmission by the sender in the absence of an indication of failure of transmission when transmitted. 

  

	3.4	 When a given number of days’ notice or notice extending over any other period is required to be given, the
day of service shall, but the day upon which such notice shall expire shall not, be included in calculating such number of days or other period. The signature to any notice to be given by the Company may be written or printed. 

 

	3.5	 Every person who by operation of law, transfer or other means whatsoever becomes entitled to a Warrant shall be
bound by any notice in respect of such Warrant which, before his name is entered in the Register, has been duly given to the person from whom he derives his title. 

 

	3.6	 If at any time by reason of the suspension or curtailment of postal services the Company is unable effectively
to convene a meeting of the Warrantholders by notices sent through the post, such a meeting may be convened by a notice advertised in at least two national daily newspapers with appropriate circulations (and, where there is a suspension or
curtailment of postal services within the United States, at least one of which shall be published in New York City) and such notice shall be deemed to have been duly served on all Warrantholders entitled thereto at noon on the day when the
advertisement appears, In any such case the Company shall send confirmatory copies of the notice by post if prior to the meeting the posting of notices to addresses again becomes practicable. 

 

	3.7	 Any Warrantholder present, either personally or by proxy, at any meeting of the Warrantholders shall for all
purposes be deemed to have received due notice of such meeting, and, where requisite, of the purposes for which such meeting was called. 

  

	3.8	 Any notice or document delivered or sent by post to or left at the registered address of any Warrantholder or
sent by facsimile transmission to any facsimile number notified by such Warrantholder to the Company in pursuance of this Instrument shall, notwithstanding that such Warrantholder is then dead, bankrupt, of unsound mind or (being a corporation) in
liquidation, and whether or not the Company has notice of the death, bankruptcy, insanity or liquidation of such Warrantholder, be deemed to have been duly served in respect of any Warrant registered in the name of such Warrantholder as sole or
joint holder unless his name has at the time of the service of the notice or document been removed from the Register as the holder of the Warrant, and such service shall for all purposes be deemed a sufficient service of such notice or document on
all persons interested (whether jointly with or as claiming through or under him) in the Warrant. 

  
 24 

	3.9	 Notwithstanding any other provision herein contained, where the Instrument provides for notice of any event to
the Warrantholders, such notice shall be sufficiently given to any holder of a Warrant represented by a Global Warrant if given to the Depositary pursuant to the customary procedures of the Depositary. 

 

	4.	 PAYMENT OF REDEMPTION OR OTHER MONEYS 

Any redemption amount or other moneys payable to a Warrantholder may be paid by electronic transfer or cheque sent by post to the registered
address of the person entitled or, if two or more persons are the holders of the Warrant or are jointly entitled to it by reason of the death or bankruptcy of the holder, to the registered address of the one of those persons who is first
named in the Register or to such person and to such address as the person or persons entitled may in writing direct (and in default of such direction to that one of the persons jointly so entitled as the Directors shall in their absolute discretion
determine). Every cheque shall be made payable to the order of the person or persons entitled or to such other person as the person or persons entitled may in writing direct and payment of the cheque shall be a good discharge to the Company. Any
joint holder or other person jointly entitled to a Warrant as aforesaid may give receipts for any dividend or other moneys payable in respect of the Warrant. Every cheque is sent at the risk of the person entitled to the payment. If payment is made
by electronic transfer, neither the Company nor the Registrar will be responsible for amounts lost or delayed in the course of making that payment. 
  

	5.	 RESPONSIBILITIES IN RESPECT OF GLOBAL WARRANTS 

The Registrar shall have no responsibility or obligation to any beneficial owner of a Global Warrant, an Agent Member or other person with
respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Warrants or with respect to the delivery to any participant, member, beneficial owner or
other person (other than the Depositary) of any notice, or the payment of any amount, under or with respect to such Warrants. All notices and communications to be given to the Warrantholders and all payments to be made to Warrant holders under the
Warrants shall be given or made only to or upon the order of the registered Warrantholders (which shall be the Depositary or its nominee in the case of a Global Warrant). The rights of beneficial owners in any Global Warrant shall be exercised only
through the Depositary subject to the applicable rules and procedures of the Depositary. The Registrar may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any
beneficial owners. 

  
 25 

 SCHEDULE 3 
  

	1.	 REGISTRAR 

  

	1.1.	 The Registrar undertakes the express duties and obligations imposed by the Instrument upon the following terms
and conditions (and no duties or obligations shall be inferred): 

  

	 	1.1.1.	 The statements and recitals contained in the Instrument and in the Warrants shall be taken as statements of the
Company and the Registrar assumes no responsibility and shall not be liable for the correctness of any of the same (except its countersignature thereof). The Registrar assumes no responsibility with respect to the distribution of the Warrants except
as otherwise expressly provided in the Instrument. 

  

	 	1.1.2.	 The Registrar shall not have any liability or be under any responsibility in respect of the validity of the
Instrument or the execution and delivery hereof (except the due execution hereof by the Registrar) or in respect of the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the
Company of any covenant or condition contained in the Instrument or in any Warrant; nor shall it be responsible for the adjustment of the Exercise Price or the making of any change in the number of Class A Common Shares required hereunder or
responsible for the manner, method or amount of any such change or adjustment or the ascertaining of the existence of facts that would require any such adjustment or change; nor shall it by any act hereunder be deemed to make any representation or
warranty as to the authorization or reservation of any Class A Common Shares to be issued pursuant to the Instrument or any Warrant or as to whether any Class A Common Shares will, when issued, be duly authorized, validly issued, fully
paid and nonassessable. 

  

	 	1.1.3.	 Notwithstanding anything contained in the Instrument to the contrary, the Registrar’s aggregate liability
during any term of the Instrument with respect to, arising from, or arising in connection with the Instrument, or from all services provided or omitted to be provided under the Instrument, whether in contract, or in tort, or otherwise, except for
liability arising or resulting from the Registrar’s bad faith, fraud or willful misconduct, is limited to, and shall not exceed, the amounts paid hereunder by the Company to Registrar as fees and charges, but not including reimbursable
expenses, during the twelve (12) months immediately preceding the event for which recovery from Registrar is being sought. Anything to the contrary notwithstanding, in no event, except for the Registrar’s bad faith, fraud or willful
misconduct, will the Registrar be liable for special, punitive, indirect, incidental or consequential loss or damages of any kind whatsoever (including, without limitation, lost profits), even if the Registrar has been advised of the likelihood of
such loss or damages, and regardless of the form of action. 

  

	 	1.1.4.	 The Registrar is hereby authorized to accept instructions with respect to the performance of its duties
hereunder from the Chief Executive Officer, Chief Financial Officer or any Vice President of the Company, and to apply to such officers for advice or instructions in connection with its duties, and it shall not be liable and shall be indemnified and
held harmless for any action taken, suffered or omitted to be taken by it in accordance with instructions of any such officer. In the event the Registrar believes any ambiguity or uncertainty exists hereunder or in any notice, instruction,
direction, request or other communication, paper or document received by the Registrar hereunder, the Registrar, may, in its sole discretion, refrain from taking any action, and shall be fully protected and shall not be liable in any way to Company,
the holder of any Warrant or any other Person for refraining from taking such action, unless the Registrar receives written instructions signed by the Company which eliminates such ambiguity or uncertainty to the satisfaction of Registrar, and which
written instructions shall be deemed conclusive for all purposes. 

  

	 	1.1.5.	 The Registrar shall not be responsible for any failure of the Company to comply with any of the covenants
contained in the Instrument or in the Warrants. 

  

	 	1.1.6.	 The Registrar may consult with legal counsel satisfactory to it, which may include counsel for the Company or
an employee or counsel for the Registrar, and the advice or opinion of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in accordance with the advice or opinion
of such counsel. 

  
 26 

	 	1.1.7.	 The Registrar may act through its attorneys and agents and will not be responsible for the misconduct or
negligence of any agent absent gross negligence, willful misconduct or bad faith (each as determined by a final judgment of a court of competent jurisdiction) in the appointment of such agent. 

 

	 	1.1.8.	 In acting under the Instrument and in connection with the Warrant, the Registrar is acting solely as agent of
the Company as determined solely by the express provisions hereof (and no duties or obligations shall be inferred or implied), and does not assume any obligations or relationship of agency or trust for or with any of the Warrantholders or beneficial
owners of Warrants. 

  

	 	1.1.9.	 The Registrar shall not have any duty or responsibility in the case of the receipt of any written demand from
any Warrantholder with respect to any action or default by the Company, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or to make any
demand upon the Company. 

  

	 	1.1.10.	 The Registrar shall not be obligated to expend or risk its own funds or to take any action that it reasonably
believes would expose or subject it to expense or liability or to a risk of incurring expense or liability. 

  

	 	1.1.11.	 The Registrar shall not be liable or responsible for any failure of the Company to comply with any of its
obligations relating to any registration statement filed with the Securities and Exchange Commission or the Instrument, including, without limitation, obligations under applicable regulation or law. 

 

	 	1.1.12.	 The Registrar shall not be accountable or under any duty or responsibility for the use by the Company of any
Warrants authenticated by the Registrar and delivered by it to the Company pursuant to the Instrument or for the application by the Company of the proceeds of the issue and sale, or exercise, of the Warrants. 

 

	 	1.1.13.	 The Registrar shall be protected and shall incur no liability for or in respect of any action taken or omitted
by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties.

  

	 	1.1.14.	 The Registrar shall have no liability for interest on any monies at any time received by it pursuant to any of
the provisions of the Instrument or of the Warrant. 

  

	 	1.1.15.	 The Company shall provide an opinion of counsel (or reliance letter in respect thereof) on or prior to the
effective date of this Instrument relating to the legality of the Warrants and the valid issuance of the Class A Common Shares underlying the Warrants. The requirements under this paragraph 1.1.15 may be satisfied by the opinion letter and/or
reliance letter delivered to the Registrar under the Transfer Agent Agreement executed by the Company and Computershare substantially contemporaneously with this Instrument. 

 

	1.2.	 The Company will pay the Registrar compensation for all services rendered by it hereunder as agreed upon in
writing by the Company and the Registrar. The Company will reimburse the Registrar upon request for all reasonable and documented out-of-pocket expenses, disbursements
and advances (including fees and expenses of counsel) incurred or made by the Registrar in the preparation, delivery, negotiation, amendment, administration and execution of the Instrument and the exercise and performance of its duties hereunder.

  

	1.3.	 The Company will indemnify the Registrar for, and hold it harmless against, any loss, liability or expense
incurred (including without limitation, the reasonable fees and expenses of outside legal counsel) which may be paid, incurred or suffered by or to which it may become subject, arising from or out of, directly or indirectly, any claims or liability
resulting from its actions or omissions as Registrar pursuant hereto; provided, that such covenant and agreement does not extend to, and the Registrar shall not be indemnified with respect to, such costs, expenses, losses and damages incurred or
suffered by the Registrar as a result of, or arising out of, its gross negligence, bad faith, or willful misconduct (each as determined by a final, nonappealable judgment of a court of competent jurisdiction). The costs and expenses incurred by the
Registrar in enforcing this right of indemnification shall be paid by the Company. 

  
 27 

	1.4.	 The Registrar, and any stockholder, director, officer, affiliate, agent, representative or employee of it, may
buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and
freely as though it were not Registrar under the Instrument. Nothing in the Instrument shall preclude the Registrar from acting in any other capacity for the Company or for any other legal entity. 

 

	1.5.	 Replacement of the Registrar. 

 

	 	1.5.1.	 The Registrar: 

  

	 	(a)	 may resign and be discharged from its duties under the Instrument at any time by not less than 30 days’
prior written notice to the Company; 

  

	 	(b)	 may be removed at any time by the Company by 30 days’ prior written notice to the Registrar, and

  

	 	(c)	 may be removed by the Company immediately if: (A) the Registrar is adjudged a bankrupt or an insolvent;
(B) a receiver or other public officer takes charge of the Registrar or its property; or (C) the Registrar becomes incapable of acting in its capacity set forth in the Instrument. 

 

	 	1.5.2.	 In the event the transfer agency relationship in effect between the Company and the Registrar terminates, the
Registrar will be deemed to have resigned automatically and be discharged from its duties under the Instrument as of the effective date of such termination. 

  

	 	1.5.3.	 If the Registrar resigns or is removed, or if a vacancy exists in the office of Registrar for any reason, the
Company will promptly appoint a successor Registrar. If the successor Registrar does not deliver its written acceptance within 30 days after the retiring Registrar resigns or is removed, the retiring Registrar, the Company or the Warrantholders of a
majority of the outstanding Warrants may petition any court of competent jurisdiction for the appointment of a successor Registrar. 

  

	 	1.5.4.	 Upon delivery by the successor Registrar of a written acceptance of its appointment to the retiring Registrar
and to the Company, (i) the retiring Registrar will transfer all property held by it as Registrar to the successor Registrar (but such predecessor Registrar shall not be required to make any additional expenditure or assume any additional
liability in connection with the foregoing), subject to any requirements of applicable law and the predecessor Registrar’s record retention policies, (ii) the resignation or removal of the retiring Registrar will become effective, and
(iii) the successor Registrar will have all the rights, powers and duties of the Registrar under the Instrument. The Company will give notice of any resignation and any removal of the Registrar, and the transfer agent, as the case may be, and
each appointment of a successor Registrar to all Warrantholders, and include in the notice the name of the successor Registrar. 

  

	1.6.	 If the Registrar consolidates with, merges or converts into, or sells or transfers all or substantially all of
its shareholder services business to, another Person or national banking association, the resulting, surviving or transferee Person or national banking association without any further act will be the successor Registrar with the same effect as if
the successor Registrar had been named as the Registrar in the Instrument. 

  

	1.7.	 The provisions of this Schedule 3 will survive the termination of the Instrument, the exercise or expiration of
the Warrants and the resignation, replacement or removal of the Registrar. 

  
 28EX-10.23

 Exhibit 10.23 

Incentive Plan 
 RADIUS
GLOBAL INFRASTRUCTURE, INC. 
 2020 EQUITY INCENTIVE PLAN 

(as amended and restated October 2, 2020) 

SECTION 1. Purpose 
 The purpose of this
Radius Global Infrastructure, Inc. 2020 Equity Incentive Plan, as amended and restated (the “Plan”), is to give the Company (as defined below) a competitive advantage in attracting, retaining, rewarding and motivating officers,
employees, directors, advisors and/or consultants, and to provide the Company and its Subsidiaries and Affiliates (each, as defined below) with a stock plan providing incentives directly linked to shareholder value and the opportunity to earn other
incentive awards payable in cash. The Plan is intended to amend and restate the plan as adopted by the Board (as defined below) on February 10, 2020 and amended April 20, 2020. 

SECTION 2. Definitions 
 For purposes of
the Plan, the following terms are defined as set forth below. 
 (a) “Affiliate” means a corporation or
other entity directly or indirectly Controlled by, Controlling or under common Control with, the Company. 
 (b)
“Applicable Exchange” means the London Stock Exchange or such other securities exchange, if any, as may at the applicable time be the principal market for the Class A Shares. 

(c) “Award” means an Option, Stock Appreciation Right, Restricted Stock, Stock Unit, other equity-based Award
(including fully vested Shares) or Cash Incentive Award, in each case, granted under the Plan. 
 (d) “Award
Agreement” means a written document or agreement setting forth the terms and conditions of a specific Award, which may (but need not) require execution or acknowledgement by the Participant. 

(e) “Beneficial Owner” means, with respect to any security, a Person who directly or indirectly, through any
contract, arrangement, understanding, relationship or otherwise, has or shares (i) voting power, which includes the power to vote, or to direct the voting of, such security or (ii) investment power, which includes the power to dispose of,
or to direct the disposition of, such security. 
 (f) “Board” means the Board of Directors of the Company.

 (g) “Cause” means, unless otherwise provided in an Award Agreement, “Cause” as defined in any
Individual Agreement to which the applicable Participant is a party. If there is no such Individual Agreement or if it does not define Cause, then “Cause” means (i) willful misconduct or gross negligence in the execution of the
Participant’s duties as assigned by the Company or an Affiliate, (ii) any material violation or breach by the Participant of his or her employment, consulting or other similar agreement with the Company or an Affiliate, if any, or of any
written policies of the Company or its Subsidiaries, (iii) any material violation or breach by the Participant of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or an Affiliate, (iv) any material act by the Participant of dishonesty or bad faith with respect to the Company or an Affiliate, (v) use of
alcohol, drugs or other similar substances in a manner that adversely affects the Participant’s work performance in any material respects or (vi) the commission by the Participant of any act or conviction of, or plea of guilty or nolo
contendere to, a misdemeanor or a felony involving fraud or moral turpitude. The good faith determination by the Committee of whether the Participant is deemed to incur a Termination of Employment by the Company for “Cause” shall be
final and binding for all purposes hereunder. 

 (h) “Cash Incentive Award” means an Award under
Section 10 that has a value set by the Committee, which value shall be payable to the Participant in cash. 
 (i)
“Change in Control” means, except as otherwise provided in an applicable Award Agreement, the occurrence of any of the following events: 

(i) any “person” or “group” (within the meaning of Sections 13(d) of the Exchange Act (excluding
(A) William Berkman, any of his Permitted Transferees (as defined in the Shareholder Agreement) or any Affiliate of William Berkman (a “Berkman Party”), (B) any “group” (as defined in Section 13(d)(3) of the
Exchange Act), other than an Excluded Group, of which a Berkman Party is a member, (C) any “person” in which the Berkman Parties, in the aggregate, hold more than 50% of the direct or indirect pecuniary interests and (D) any
other “person” or “group” who, on the date of the consummation of the Merger, is the Beneficial Owner of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then
outstanding voting securities) becomes the Beneficial Owner of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding voting securities; 

(ii) (A) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or
(B) there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Company of all or substantially all of the Company’s assets, other than a sale or other disposition by
the Company of all or substantially all of the Company’s assets to an entity at least fifty percent (50%) of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same
proportions as their ownership of the Company immediately prior to such sale or other disposition; 
 (iii) there is
consummated a merger or consolidation of the Company with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (A) the Board immediately prior to the merger or consolidation does
not constitute at least a majority of the board of directors of the company surviving the merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (B) all or substantially all of the Persons who were
the respective Beneficial Owners of the voting securities of the Company immediately prior to such merger or consolidation are not the Beneficial Owners, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then
outstanding voting securities of the Person resulting from such merger or consolidation in substantially the same proportions as their ownership of the Company immediately prior to such merger or consolidation; or 

(iv) during any period of two (2) consecutive years (not including any period prior to the Effective Date) a majority of
the number of directors of the Company then serving is not comprised of: (A) individuals who were directors of the Company on the date of the consummation of the Merger, (B) the Founder Directors (as defined in the Company’s First
Amended and Restated Memorandum and Articles of Association or the Company’s Certificate of Incorporation) and/or (C) any other director whose appointment or election to the Board or nomination for election by the Company’s
shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors referred to in the foregoing clauses (A) and (B) of this clause. 

Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any
transaction or series of integrated transactions immediately 

  
 2 

 
following which the record holders of the Common Stock and the preferred shares, no par value, of the Company immediately prior to such transaction or series of transactions continue to have
substantially the same proportionate ownership in and voting control over, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of
transactions. 
 (j) “Class A Shares” means (A) at any time prior to the
Domestication, ordinary shares, no par value per share, of the Company, or (B) at any time after the Domestication, shares of Class A common stock of the Company or, in each case, such other securities of the Company into which such shares
shall be changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of shares or other similar transaction. 

(k) “Class B Shares” means (A) at any time prior to the Domestication, Class B
ordinary shares, no par value per share, of the Company, or (B) at any time after the Domestication, shares of Class B common stock of the Company or, in each case, such other securities of the Company into which such shares shall be
changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of shares or other similar transaction. 

(l) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto,
the Treasury Regulations thereunder and other relevant interpretive guidance issued by the Internal Revenue Service or the Treasury Department. Reference to any specific section of the Code shall be deemed to include such regulations and guidance,
as well as any successor provision of the Code. 
 (m) “Commission” means the Securities and Exchange
Commission or any successor agency. 
 (n) “Committee” has the meaning set forth in Section 3(a). 

(o) “Common Stock” means, collectively, the Class A Shares and the Class B Shares. 

(p) “Company” means Radius Global Infrastructure, Inc. (previously known as Landscape Acquisition Holdings
Limited and Digital Landscape Group, Inc.), a company organized under the laws of Delaware, or any successor thereto. 
 (q)
“Control” means the direct or indirect possession of the power to direct or cause the direction of the management or policies of a Person, whether through ownership of voting securities, by contract or otherwise (and Controlled and
Controlling shall be construed accordingly). 
 (r) “Direct Exchange” shall have the meaning set forth in
the Operating Agreement. 
 (s) “Disability” means (i) “Disability” as defined in any Individual
Agreement to which the Participant is a party, or (ii) if there is no such Individual Agreement or it does not define “Disability,” a permanent and total disability (within the meaning of Section 22(e) of the Code), as determined
by a medical doctor satisfactory to the Committee; provided, however, that in all cases, if an amount payable pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) and payment of
such amount is intended to be triggered pursuant to Section 409A(a)(ii) of the Code by a Participant’s disability, such term shall mean that the Participant is considered “disabled” within the meaning of Section 409A of the
Code. 
 (t) “Disaffiliation” means a Subsidiary’s or Affiliate’s ceasing to be a Subsidiary or
Affiliate for any reason (including, without limitation, as a result of a public offering, or a spinoff or sale by the Company, of the stock of the Subsidiary or Affiliate) or a sale of a division of the Company and its Affiliates. 

  
 3 

 (u) “Domestication” means the change to the jurisdiction of
incorporation of the Company from the British Virgin Islands to the State of Delaware. 
 (v) “Effective
Date” has the meaning set forth in Section 14(a). 
 (w) “Eligible Individuals” means
directors, officers, employees, advisors, and consultants of the Company or any of its Subsidiaries or Affiliates, and prospective employees and consultants who have accepted offers of employment or consultancy from the Company or its Subsidiaries
or Affiliates. 
 (x) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to
time, and any successor thereto. 
 (y) “Exercise Price” means (i) in the case of an Option, the price
specified in the applicable Award Agreement as the price-per-Share at which Shares may be purchased pursuant to such Option or (ii) in the case of a Stock
Appreciation Right, the price specified in the applicable Award Agreement as the reference price-per-Share used to calculate the amount payable to the Participant. 

(z) “Excluded Group” shall mean a “group” within the meaning of Section 13(d)(3) of the
Exchange Act of which William Berkman is a member (i) as a result of Mr. Berkman entering into a voting agreement or other similar agreement with respect to voting securities of the Company in connection with a transaction that would
otherwise constitute a Change in Control of the Company that is approved by the Board and which voting or similar agreement Mr. Berkman entered into with the approval of the Board or (ii) as a result of the fact that William
Berkman indirectly holds or shares dispositive power over voting securities of the Company but neither he nor any Berkman Party has or shares any direct or indirect voting control over such voting securities of the Company
or over the voting securities of the entity that directly or indirectly holds or has or shares voting control over such voting securities of the Company. 

(aa) “Fair Market Value” means, except as otherwise provided in the applicable Award Agreement, (i) with
respect to any property other than Class A Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee and (ii) with respect to Class A Shares, as
of any date, (A) either (x) the closing per share sales price of the Class A Shares as reported by the Applicable Exchange for such date or, if there were no sales on such date, on the closest preceding date on which there were sales of
Class A Shares or (y) any other price or prices (including a mean of such prices) of Class A Common Stock as reported on the Applicable Exchange as determined by the Committee in its discretion, provided that, in the case of
Options and Stock Appreciation Rights, such determination shall be in accordance with Treas. Reg. Section 1.409A-1(b)(5)(iv), or (B) in the event there shall be no public market for the Class A
Shares on such date, the fair market value of the Class A Shares as determined in good faith by the Committee. 
 (bb)
“GAAP” means United States generally accepted accounting principles in the United States. 
 (cc)
“Incentive Stock Option” means an Option that is intended to qualify for special federal income tax treatment pursuant to Sections 421 and 422 of the Code, as now constituted or subsequently amended, or pursuant to a successor
provision of the Code, and which is so designated in the applicable Award Agreement. 
 (dd) “Individual
Agreement” means a written employment, retention, consulting or similar agreement between a Participant and the Company or one of its Subsidiaries or Affiliates. 

(ee) “Initial Series A LTIP Grant” shall have the same meaning set forth in Section 4(a)(iii). 

(ff) “Initial Series B LTIP Grant” shall have the same meaning set forth in Section 4(a)(iii). 

  
 4 

 (gg) “LTIP Unit” shall have the meaning set forth in the
Operating Agreement. 
 (hh) “Merger” shall mean the merger contemplated under that certain Agreement and
Plan of Merger, dated as of November 19, 2019, among the Company, Associated Partners, L.P., OpCo and certain other parties. 

(ii) “Nonqualified Stock Option” means an Option that is not an Incentive Stock Option. 

(jj) “Non-Economic Share” means a Class B Share or a Series B
Preferred Share. 
 (kk) “OpCo” means APW OpCo LLC, a Delaware limited liability company. 

(ll) “Operating Agreement” means the Second Amended and Restated Limited Liability Company Agreement of OpCo,
as amended from time to time. 
 (mm) “Option” means an option to purchase Shares that is granted under
Section 6(a). 
 (nn) “Participant” means an Eligible Individual to whom an Award is or has been
granted. 
 (oo) “Performance Goals” means the performance goals established by the Committee in connection
with the grant of Options, Stock Appreciation Rights, Restricted Stock, Stock Units, other stock-based Awards or Cash Incentive Awards. 

(pp) “Person” means an individual or any corporation, partnership, limited liability company, trust,
unincorporated organization, association, joint venture or any other organization or entity, whether or not a legal entity. 

(qq) “Plan” has the meaning set forth in the first paragraph of Section 1. 

(rr) “Redeemed Units” shall have the meaning set forth in the Operating Agreement. 

(ss) “Redemption” shall have the meaning set forth in the Operating Agreement. 

(tt) “Restricted Stock” means a Share that is granted under Section 7 that is subject to certain transfer
restrictions, forfeiture provisions and/or other terms and conditions specified herein and in the applicable Award Agreement. 

(uu) “Series A LTIP Unit” shall have the meaning set forth in the Operating Agreement. 

(vv) “Series B LTIP Unit” shall have the meaning set forth in the Operating Agreement. 

(ww) “Series B Preferred Shares” means (i) at any time prior to the Domestication, the Series B founder
preferred shares, no par value, of the Company, as specified in the First Amended and Restated Memorandum and Articles of Association of the Company or (ii) at any time after the Domestication, the series of preferred stock of the Company
designated as “Series B Founder Preferred Stock” of the Company or, in each case, such other securities of the Company into which such shares shall be changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of shares or other similar transaction. 
 (xx)
“Share” means a Class A Share, Class B Share or Series B Preferred Share. Unless otherwise specifically provided in the Award Agreement, all Shares in respect of any Award shall be Class A Shares. 

(yy) “Share Settlement” shall have the meaning set forth in the Operating Agreement. 

  
 5 

 (zz) “Shareholder Agreement” means that certain Shareholder
Agreement by and among the Company, TOMS Acquisition II LLC and certain other parties, as amended from time to time. 
 (aaa)
“Stock Appreciation Right” means a stock appreciation right Award that is granted under Section 6(b) and that, subject to Section 15, represents an unfunded and unsecured promise to deliver Shares, cash, other securities,
other Awards or other property equal in value to the excess, if any, of the Fair Market Value per Share over the Exercise Price per Share of the Stock Appreciation Right, subject to the terms of the applicable Award Agreement. 

(bbb) “Stock Unit” means a stock unit Award that is granted under Section 8 and is designated as such in
the applicable Award Agreement and that, subject to Section 15, represents an unfunded and unsecured promise to deliver Shares, cash, other securities, other Awards or other property in accordance with the terms of the applicable Award
Agreement. 
 (ccc) “Subsidiary” means any corporation, partnership, joint venture or other entity during
any period in which at least a 50% voting or economic interest is owned, directly or indirectly, by the Company. 
 (ddd)
“Term” means the maximum period during which an Option or Stock Appreciation Right may remain outstanding, subject to earlier termination upon Termination of Employment or otherwise, as specified in the applicable Award Agreement.

 (eee) “Termination of Employment” means the termination of the applicable Participant’s employment
with, or performance of services for, the Company and any of its Subsidiaries or Affiliates. Unless otherwise determined by the Committee, if a Participant’s employment with the Company and its Affiliates terminates but such Participant
continues to provide services to the Company and its Affiliates in a non-employee capacity, such change in status shall not be deemed a Termination of Employment. A Participant employed by, or performing
services for, a Subsidiary or an Affiliate or a division of the Company and its Affiliates may, in the Committee’s sole discretion, be deemed to incur a Termination of Employment if, as a result of a Disaffiliation, such Subsidiary, Affiliate,
or division ceases to be a Subsidiary, Affiliate or division, as the case may be, and the Participant does not immediately thereafter become an employee of, or service provider for, the Company or another Subsidiary or Affiliate. Neither a temporary
absence from employment because of illness, vacation or leave of absence nor a transfer among the Company and its Subsidiaries and Affiliates shall be considered a Termination of Employment. Notwithstanding the foregoing, if an amount payable
pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) and payment of such amount is intended to be triggered pursuant to Section 409A(a)(i) of the Code by a Participant’s separation
from service, such term shall mean that the Participant has experienced a “separation from service” within the meaning of Section 409A of the Code. 

SECTION 3. Administration 

(a) Committee. The Plan shall be administered by the Compensation Committee of the Board or such other committee of the
Board as the Board may from time to time designate (the “Committee”), which shall be composed of not less than two directors, and shall be appointed by and serve at the pleasure of the Board; provided that, to the extent
necessary to comply with the rules of the Applicable Exchange and any other applicable laws or rules, each member of the Committee shall meet the independence requirements of the Applicable Exchange or such other applicable laws or rules.
Notwithstanding the foregoing, in no event shall any action taken by the Committee be considered void or be considered an act in contravention of the terms of the Plan solely as a result of the failure by one or more members of the Committee to
satisfy the requirements set forth in the immediately preceding sentence. The Committee shall, subject to Section 12, have plenary authority to grant Awards pursuant 

  
 6 

 
to the terms of the Plan to Eligible Individuals. Among other things, the Committee shall have the authority, subject to the terms of the Plan: 

(i) to select the Eligible Individuals, either individually or collectively, to whom Awards may from time to time be granted;

 (ii) to determine whether and to what extent, Options, Stock Appreciation Rights, Restricted Stock, Stock Units, other
stock-based Awards, Cash Incentive Awards, or any combination thereof, are to be granted hereunder; 
 (iii) to determine the
number and class of Shares (if any) to be covered by each Award granted hereunder; 
 (iv) to determine the terms and
conditions of each Award granted hereunder, based on such factors as the Committee shall determine; 
 (v) to determine the
vesting schedules of Awards and, if certain Performance Goals must be attained in order for an Award to be granted, vest or be settled or paid, establish such Performance Goals and determine whether, and to what extent, such Performance Goals have
been attained; 
 (vi) to determine whether, to what extent and under what circumstances Awards may be settled or exercised
in cash, Shares, other securities, other Awards or other property, or canceled, forfeited or suspended and the method or methods by which Awards may be settled, exercised, canceled, forfeited or suspended; 

(vii) to accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; 

(viii) subject to Section 14, to modify, amend or adjust the terms and conditions of any Award, at any time or from time
to time; 
 (ix) to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it
shall from time to time deem advisable; 
 (x) to interpret, administer, reconcile any inconsistency in, correct any default
in and/or supply any omission in, the terms and provisions of the Plan and any Award issued under the Plan (and any Award Agreement relating thereto); 

(xi) to establish policies relating to restrictions on the exercise of Awards and sales of Shares acquired pursuant to Awards
that the Committee, in its sole discretion, deems necessary or advisable to satisfy any applicable law, rule or regulation (including, without limitation, any applicable law relating to insider trading); and 

(xii) to make any other determination and take any other action that the Committee deems necessary or desirable for the
administration of the Plan. 
 (b) Procedures. 

(i) The Committee may, except to the extent prohibited by applicable law or the listing standards of the Applicable Exchange,
and subject to Section 12, allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any officer or officers of the Company selected
by it; provided, however, that in the case of any Awards held by any Participant who is an “executive officer” of the Company (within the meaning of Rule 3b-7 under the Exchange Act) or
is a member of the Board, such responsibilities and powers shall not be delegated and actions with respect thereto shall only be taken with the approval of a majority of the members of the Committee or of the full Board. 

  
 7 

 (ii) Any authority granted to the Committee may also be exercised by the
full Board. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control. 

(c) Discretion of Committee. Except as otherwise set forth in any applicable Award Agreement or Individual Agreement,
(i) any determination made by the Committee or by an appropriately delegated officer pursuant to delegated authority under the provisions of the Plan with respect to any Award shall be made in the sole discretion of the Committee or such
delegate at the time of the grant of the Award or, unless in contravention of any express term of the Plan, at any time thereafter and (ii) all decisions made by the Committee or any appropriately delegated officer pursuant to the provisions of
the Plan shall be final and binding on all persons, including the Company, Participants, and Eligible Individuals. 
 (d)
Award Agreements. In the case of each Award other than a Cash Incentive Award, the terms and conditions of such Award, as determined by the Committee, shall be set forth in a written Award Agreement, which shall be delivered to the
Participant receiving such Award upon, or promptly following, the grant of such Award. The effectiveness of an Award shall not be subject to the Award Agreement’s being signed by the Company and/or the Participant receiving the Award unless
specifically so provided in the Award Agreement. Award Agreements may be amended only in accordance with Section 14 or as otherwise set forth in the applicable Award Agreement. 

SECTION 4. Shares and Cash Available Pursuant to the Plan 

(a) Maximum Number of Shares. 

(i) Subject to adjustment as provided in Section 4(c), the maximum number of Shares that may be issued or paid under or
with respect to all Awards (considered in the aggregate) granted under the Plan shall be equal to Thirteen Million Five Hundred Thousand (13,500,000), in the aggregate. To the extent any Shares covered by an Award are not delivered to a Participant
because all or a portion of the Award is forfeited, canceled or is settled in cash, such Shares shall not be deemed to have been delivered for purposes of determining the maximum number of Shares available for delivery under the Plan. To the extent
any Shares covered by an Award are not delivered to a Participant because the Shares are withheld or tendered (by actual delivery or by attestation) to the Company, in either case, to satisfy the applicable tax withholding obligation or in payment
of the exercise price of the Award, such Shares shall be deemed to have been delivered for purposes of determining the maximum number of Shares available for delivery under the Plan. Upon exercise of a stock-settled Stock Appreciation Right, each
such stock-settled Stock Appreciation Right originally granted shall be counted as one Share against the maximum number of Shares that may be delivered pursuant to Awards granted under the Plan, regardless of the number of Shares actually delivered
upon settlement of such stock-settled Stock Appreciation Right. Except as otherwise set forth in Section 4(a)(ii), all Shares available under the Plan shall be available for any type of Award, except that the maximum number of Shares that may
be subject to Incentive Stock Options granted under the Plan shall be Thirteen Million Five Hundred Thousand (13,500,000), subject to adjustment as provided in Section 4(c). 

(ii) All Class B Shares available under the Plan shall only be available for issuance in tandem with an equal number of
Series A LTIP Units or upon the conversion of Series B Preferred Shares. All Series B Preferred Shares available under the Plan shall only be available for issuance in tandem with an equal number of Series B LTIP Units granted by OpCo pursuant to
the Initial Series B LTIP Grant. Upon the grant of LTIP Units to a Participant, an equal number of Non-Economic 

  
 8 

 
Shares shall be issued in tandem with such LTIP Unit, which Non-Economic Shares shall be subject to the same vesting terms and conditions (if any) as the
corresponding LTIP Units. Upon issuance, each Non-Economic Share that is issued in tandem with an LTIP Unit shall reduce the number of Shares available for issuance under the Plan on a one-for-one basis. In the event that an LTIP Unit (and corresponding Non-Economic Share) is forfeited, consistent with
Section 4(a)(i), such Non-Economic Share shall be added back to the Shares available for issuance under the Plan on a
one-for-one basis. Simultaneously with a Redemption or Direct Exchange, the Participant shall surrender to the Company, and the Company shall cancel for no
consideration, a number of Non-Economic Shares registered in the name of the Participant equal to the number of Redeemed Units in accordance with Section 11.04(b) of the Operating Agreement. Upon issuance
of Class A Shares in a Share Settlement, the number of Shares available for issuance under the Plan shall be reduced by each Class A Share that has been issued and, simultaneously, shall be increased by each
Non-Economic Share that has been canceled, in each case on a one-for-one basis, so that the net impact on the number of Shares
available pursuant to the Plan of such cancelation of Non-Economic Shares and issuance of Class A Shares shall be neutral. 

(iii) Upon the closing of the Merger, the following shall occur: (x) Five Million Four Hundred Thousand (5,400,000) Series
A LTIP Units (such grant of Series A LTIP Units, the “Initial Series A LTIP Grant”) shall be granted by OpCo, in tandem with an equal amount of Class B Shares of Restricted Stock that shall be granted by the Company, to certain
Participants in accordance with the applicable Award Agreements among the Company, OpCo and the Participant named therein, and (y) One Million Three Hundred and Eighty Six Thousand and Thirty Three (1,386,033) Series B LTIP Units (such grant of
Series B LTIP Units, the “Initial Series B LTIP Grant”) shall be granted by OpCo, in tandem with an equal amount of Series B Preferred Shares of Restricted Stock shall be granted by the Company, to certain Participants in accordance
with the Award Agreement among the Company, OpCo and the Participant named therein. 
 (b) Maximum Shares and Cash per Non-Employee Director. Subject to adjustment as provided in Section 4(c), (i) with respect to any Restricted Stock Awards, Stock Unit Awards and other stock-based Awards (including fully vested Shares)
(which Awards shall be deemed to have a value equal to the per-share Fair Market Value on the applicable grant date), no more than Two Hundred Thousand (200,000) Shares may be subject to such Awards granted to
any one non-employee director in any fiscal year of the Company under the Plan, which Awards may be settled in Shares or in cash based on the per share Fair Market Value as of the relevant payment or
settlement date and (ii) in the case of all Awards other than those described in (i), including cash retainer fees, the maximum aggregate amount of cash and other property (valued at its Fair Market Value) other than Shares that may be paid or
delivered pursuant to such Awards to any one non-employee director in any fiscal year of the Company shall be equal to Two Million Dollars ($2,000,000). Notwithstanding the foregoing, the Independent Directors
(within the meaning of the Operating Agreement), by action as a majority of such directors, may make exceptions to this limit for a non-executive Chairman of the Board so long as such non-executive Chairman does not participate in the decision to award such compensation. 

(c) Adjustment Provisions. (i) In the event of any extraordinary dividend or other extraordinary distribution
(whether in the form of cash, Shares, other securities or other property), recapitalization, rights offering, stock split, reverse stock split, split-up or spin-off or
any other event that constitutes an “equity restructuring” within the meaning of GAAP with respect to Shares, the Committee shall, in the manner determined appropriate or desirable by the Committee, adjust any or all of (A) the number
of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted under the Plan, including (1) the maximum number of Shares that may be delivered pursuant to Incentive
Stock Options granted under the Plan and (2) the maximum number of Shares or other securities of the Company (or number and kind of other securities or 

  
 9 

 
property) with respect to which Awards may be granted under the Plan to any non-employee director in any fiscal year of the Company, in each case, as
provided in Sections 4(a) and 4(b), and (B) the terms of any outstanding Award, including (1) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to outstanding Awards or to
which outstanding Awards relate and (2) the Exercise Price, if applicable, with respect to any Award. 
 (ii) In the
event that the Committee determines that any reorganization, merger, consolidation, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the
Company, or other similar corporate transaction or event affects the Shares such that an adjustment is determined by the Committee in its discretion to be appropriate or desirable, then the Committee may (A) in such manner as it may deem
appropriate or desirable, adjust any or all of (1) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted, including (X) the maximum number
of Shares that may be delivered pursuant to Incentive Stock Options granted under the Plan and (Y) the maximum number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards
may be granted under the Plan to any non-employee director in any fiscal year of the Company, in each case, as provided in Sections 4(a) and 4(b), and (2) the terms of any outstanding Award, including
(X) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to outstanding Awards or to which outstanding Awards relate and (Y) the Exercise Price, if applicable, with respect to
any Award; (B) if deemed appropriate or desirable by the Committee, make provision for payments of cash, property or a combination thereof having an aggregate value equal to the value of such Awards, as determined by the Committee in its sole
discretion (it being understood that in the case of a transaction with respect to which shareholders of Class A Shares receive consideration other than publicly traded equity securities of the ultimate surviving entity, any such determination
by the Committee that the value of an Option or Stock Appreciation Right shall, for this purpose, be deemed to equal the excess, if any, of the value of the per Share consideration being paid for the Class A Shares pursuant to such transaction
over the Exercise Price of such Option or Stock Appreciation Right and shall conclusively be deemed valid); (C) if deemed appropriate or desirable by the Committee, cancel and terminate any Option or Stock Appreciation Right having a per-Share Exercise Price equal to, or in excess of, the Fair Market Value of a Share subject to such Option or Stock Appreciation Right without any payment or consideration therefor; and (D) if deemed
appropriate or desirable by the Committee, in connection with any Disaffiliation, arrange for the assumption of Awards, or replacement of Awards with new awards based on other property or other securities (including, without limitation, other
securities of the Company and securities of entities other than the Company), by the affected Subsidiary, Affiliate, or division or by the entity that controls such Subsidiary, Affiliate, or division following such Disaffiliation (as well as any
corresponding adjustments to Awards that remain based upon Company securities). 
 (iii) Notwithstanding any provision of the
Plan to the contrary, in the event of any replacement of any Award in respect of Series B Preferred Shares, the securities underlying such replacement Award shall retain voting rights in respect of all classes of the Company’s stock that are
not less than the Series B Preferred Shares underlying the Award that was replaced. 
 (d) Substitute Awards. Subject
to the restrictions on “repricing” of Options and Stock Appreciation Rights as set forth in Section 6(c), Awards may, in the discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding
awards previously granted by the Company or any of its Affiliates or a company acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines (“Substitute Awards”). The number of Shares
underlying any Substitute Awards shall be counted against the maximum number of Shares available for Awards 

  
 10 

 
under the Plan; provided, however, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding awards previously granted by an entity that is
acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall not be counted against the maximum number of Shares available for Awards under the Plan; provided further, however, that
Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding stock options intended to qualify for special tax treatment under Sections 421 and 422 of the Code that were previously granted by an entity that is
acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall be counted against the maximum number of Shares available for Incentive Stock Options under the Plan. 

(e) Sources of Shares Deliverable Under Awards. Any Shares delivered pursuant to an Award may consist, in whole or in
part, of authorized and unissued Shares, treasury Shares or Shares held by a Subsidiary, as determined by the Committee in its discretion. 
 SECTION 5.
Eligibility 
 Awards may be granted under the Plan to Eligible Individuals. 

SECTION 6. Options and Stock Appreciation Rights 

(a) Options. Options may be granted on such terms and in such form as the Committee may from time to time determine in
its sole discretion, which shall not be inconsistent with the provisions of the Plan, but which need not be identical from Option to Option. In the case of Incentive Stock Options, the terms and conditions of such grants shall be subject to and
comply with such rules as may be prescribed by Section 422 of the Code. All Options granted under the Plan shall be Nonqualified Stock Options unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive
Stock Option. If an Option is intended to be an Incentive Stock Option, and if, for any reason, such Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or
portion thereof) shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan; provided that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to Nonqualified Stock
Options. 
 (b) Stock Appreciation Rights. Stock Appreciation Rights under the Plan may be granted on such terms and
in such form as the Committee may from time to time determine in its sole discretion, which shall not be inconsistent with the provisions of the Plan, but which need not be identical from Stock Appreciation Right to Stock Appreciation Right. Upon
the exercise of a Stock Appreciation Right, the Participant shall be entitled to receive an amount in cash, Shares, or both, in value equal to the product of (i) the excess of the Fair Market Value of one Share over the Exercise Price of the
applicable Stock Appreciation Right, multiplied by (ii) the number of Shares in respect of which the Stock Appreciation Right has been exercised. The applicable Award Agreement shall specify whether such payment is to be made in cash, Shares or
both, or shall reserve to the Committee or the Participant the right to make that determination prior to or upon the exercise of the Stock Appreciation Right. 

(c) Exercise Price. The Exercise Price subject to an Option or Stock Appreciation Right shall be determined by the
Committee and set forth in the applicable Award Agreement, and shall not be less than the Fair Market Value of a Share on the applicable grant date; provided, however, that in the case of an Incentive Stock Option granted to an
employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Affiliate, the Exercise Price shall be no less than 110% of the Fair Market Value per
Share on the date of the grant. In no event may any Option or Stock Appreciation Right granted under the Plan (i) be amended to decrease the Exercise Price thereof, (ii) be cancelled at a time when its Exercise Price exceeds
the Fair Market Value of the underlying Shares in exchange for another Option or Stock 

  
 11 

 
Appreciation Right or any Restricted Stock, Stock Unit, other equity-based Award, award under any other equity-compensation plan or any cash payment or (iii) be subject to any action that
would be treated, for accounting purposes, as a “repricing” of such Option or Stock Appreciation Right, unless, in the case of each of the foregoing clauses (i), (ii) and (iii), such amendment, cancellation, or action is specifically
approved by the Company’s shareholders. For the avoidance of doubt, an adjustment to the Exercise Price of an Option or Stock Appreciation Right that is made in accordance with Section 4(c) shall not be considered a reduction in Exercise
Price or “repricing” of such Option or Stock Appreciation Right. 
 (d) Term. The Term of each Option and
Stock Appreciation Right shall be fixed by the Committee at the time of grant; provided that in no event may any Option or Stock Appreciation Right have a Term of more than ten years (or in the case of an Incentive Stock Option such shorter
term as may be required under Section 422 of the Code). 
 (e) Vesting and Exercisability. Except as otherwise
provided herein, Options and Stock Appreciation Rights shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee. If the Committee provides that any Option or Stock Appreciation Right
will become exercisable only in installments, the Committee may at any time waive such installment exercise provisions, in whole or in part, based on such factors as the Committee may determine. In addition, the Committee may at any time accelerate
the vesting and/or exercisability of any Option or Stock Appreciation Right. 
 (f) Method of Exercise. Subject to the
provisions of this Section 6, Options and Stock Appreciation Rights may be exercised, in whole or in part, at any time during the applicable Term by giving written notice of exercise to the Company specifying the number of Shares as to which
the Option or Stock Appreciation Right is being exercised; provided, however, that, unless otherwise permitted by the Committee, any such exercise must be with respect to a portion of the applicable Option or Stock Appreciation Right relating
to no less than the lesser of the number of Shares then subject to such Option or Stock Appreciation Right or 50 Shares; provided, further, that, unless otherwise permitted by the Committee, Options and Stock Appreciation Rights may
only be exercised to the extent that they have previously vested. In the case of the exercise of an Option, such notice shall be accompanied by payment in full of the purchase price (which shall equal the product of such number of Shares multiplied
by the applicable Exercise Price) by certified or bank check or such other instrument as the Company may accept. If approved by the Committee, payment, in full or in part, may also be made as follows: 

(i) Payments may be made in the form of unrestricted Shares (by delivery of such Shares or by attestation) of the same class as
the Shares subject to the Option already owned by the Participant (based on the Fair Market Value of the Shares on the date the Option is exercised). 

(ii) To the extent permitted by applicable law, payment may be made by delivering a properly executed exercise notice to the
Company, together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds necessary to pay the purchase price, and, if requested, the amount of any federal, state, local or foreign
withholding taxes. To facilitate the foregoing, the Company may, to the extent permitted by applicable law, enter into agreements for coordinated procedures with one or more brokerage firms. To the extent permitted by applicable law, the Committee
may also provide for Company loans to be made for purposes of the exercise of Options. 
 (iii) Payment may be made by
instructing the Committee to withhold a number of Shares having a Fair Market Value (based on the Fair Market Value of the Shares on the date the applicable Option is exercised) equal to the product of (A) the Exercise Price multiplied by
(B) the number of Shares in respect of which the Option shall have been exercised. 

  
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 (g) Delivery; Rights of Shareholders. No Shares shall be delivered
pursuant to the exercise of an Option until the Exercise Price therefor has been fully paid and applicable taxes have been withheld. Subject to Section 18(a), the applicable Participant shall have all of the rights of a shareholder of the
Company holding the class or series of Common Stock that is subject to the Option or Stock Appreciation Right (including, if applicable, the right to vote the applicable Shares and the right to receive dividends), when the Participant (i) has
given written notice of exercise, (ii) if requested, has given the representation described in Section 18(a), (iii) in the case of an Option, has paid in full for such Shares and any federal, state, local and foreign income and employment
taxes required to be withheld, and (iv) has been entered into the Company’s register of members or any other stock records with respect to such Shares. 

(h) Terminations of Employment. Subject to Section 11(a) and except as set forth in the applicable Award Agreement
or as otherwise determined by the Committee in its discretion, a Participant’s Options and Stock Appreciation Rights shall be forfeited upon such Participant’s Termination of Employment. 

SECTION 7. Restricted Stock 

(a) Nature of Awards and Certificates. Awards of Restricted Stock are actual Shares issued to a Participant, and shall
be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of one or more stock certificates. Any certificate issued in respect of Awards of Restricted Stock shall be registered in the name of
the applicable Participant and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Award, substantially in the following form: 

“The transferability of this certificate and the shares of stock represented hereby are subject to the terms and conditions (including
forfeiture) of the Radius Global Infrastructure, Inc. 2020 Equity Incentive Plan, as amended and restated (the “Plan”), and an Award Agreement (the “Agreement”), as well as the terms and conditions of applicable law. Copies of
such Plan and Agreement are on file at the offices of Radius Global Infrastructure, Inc.” 
 The Committee may require that the
certificates evidencing title of such Shares be held in custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of any Award of Restricted Stock, the applicable Participant shall have delivered a stock power,
endorsed in blank, relating to the Shares covered by such Award. 
 (b) Terms and Conditions. Awards of Restricted
Stock shall be subject to the following terms and conditions: 
 (i) The Committee may condition the grant or vesting of an
Award of Restricted Stock upon the attainment of Performance Goals or upon the continued service of the applicable Participant. The conditions for grant or vesting and the other provisions of Restricted Stock Awards (including, without limitation,
any applicable Performance Goals) need not be the same with respect to each recipient. The Committee may at any time, in its sole discretion, accelerate or waive, in whole or in part, any of the foregoing restrictions. 

(ii) Subject to the provisions of the Plan and except as set forth in the applicable Award Agreement, during the period, if
any, set by the Committee, commencing with the date of such Restricted Stock Award for which such Participant’s continued service is required (the “Restriction Period”), and until the later of (A) the expiration of the
Restriction Period and (B) the date the applicable Performance Goals (if any) are satisfied, the Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber such Shares of Restricted Stock. 

  
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 (iii) Except as provided in this Section 7 and in the applicable Award
Agreement, the applicable Participant shall have, with respect to the Shares of Restricted Stock, all of the rights of a shareholder of the Company holding the class or series of Shares that is the subject of the Restricted Stock, including, if
applicable, the right to vote the Shares and the right to receive any cash dividends. If so determined by the Committee in the applicable Award Agreement and subject to Section 18(f), (A) cash dividends on the class or series of Shares that is
the subject of the Restricted Stock Award shall be automatically reinvested in additional Restricted Stock, held subject to the vesting of the underlying Restricted Stock, and (B) subject to any adjustment pursuant to Section 4(c),
dividends payable in Shares shall be paid in the form of Restricted Stock of the same class as the Shares with respect to which such dividend was paid, held subject to the vesting of the underlying Restricted Stock. 

(iv) Except as otherwise set forth in the applicable Award Agreement, any Individual Agreement or Section 11(a), upon a
Participant’s Termination of Employment for any reason during the Restriction Period or before the applicable Performance Goals are satisfied, all Awards of Restricted Stock still subject to restriction shall be forfeited by such Participant;
provided, however, that the Committee shall have the discretion to waive, in whole or in part, any or all remaining restrictions with respect to any or all of such Participant’s Shares of Restricted Stock. 

(v) If and when any applicable Performance Goals are satisfied and the Restriction Period expires without a prior forfeiture of
the Shares of Restricted Stock for which legended certificates have been issued, unlegended certificates for such Shares shall be delivered to the Participant upon surrender of the legended certificates. 

SECTION 8. Stock Units 

(a) Nature of Award. Stock Units are Awards denominated in Shares that will be settled, subject to the terms and
conditions of the Stock Units, either by delivery of Shares to the Participant or by the payment of cash based upon the Fair Market Value of a specified number of Shares. 

(b) Terms and Conditions. Stock Units shall be subject to the following terms and conditions: 

(i) The Committee may condition the vesting of Stock Units upon the attainment of Performance Goals or upon the continued
service of the Participant. The conditions for grant or vesting and the other provisions of Stock Unit Awards (including, without limitation, any applicable Performance Goals) need not be the same with respect to each recipient. The Committee may at
any time, in its sole discretion, accelerate or waive, in whole or in part, any of the foregoing restrictions. An Award of Stock Units shall be settled as and when the Stock Units vest or at a later time specified by the Committee or in accordance
with an election of the Participant, if the Committee so permits. 
 (ii) Subject to the provisions of the Plan and except as
set forth in the applicable Award Agreement, during the period, if any, set by the Committee, commencing with the date of such Stock Unit Award for which such Participant’s continued service is required (the “Stock Unit Restriction
Period”), and until the later of (A) the expiration of the Stock Unit Restriction Period and (B) the date the applicable Performance Goals (if any) are satisfied, the Participant shall not be permitted to sell, assign, transfer,
pledge or otherwise encumber Stock Units. 
 (iii) The Award Agreement for Stock Units shall specify whether, to what extent
and on what terms and conditions the applicable Participant shall be entitled to receive current or deferred payments of cash, Shares or other property corresponding to the dividends payable on the Shares (subject to Section 18(f) below). 

  
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 (iv) Except as otherwise set forth in the applicable Award Agreement, any
Individual Agreement or Section 11(a), upon a Participant’s Termination of Employment for any reason during the Stock Unit Restriction Period or before the applicable Performance Goals are satisfied, all Stock Units still subject to
restriction shall be forfeited by such Participant; provided, however, that the Committee shall have the discretion to waive, in whole or in part, any or all remaining restrictions with respect to any or all of such Participant’s
Stock Units. 
 SECTION 9. Other Equity-Based Awards 

Subject to the provisions of the Plan, other Awards of Shares and other Awards that are valued in whole or in part by reference to, or are
otherwise based upon, Shares (including, without limitation, fully vested Shares, dividend equivalents, and convertible debentures), may be granted under the Plan upon the terms and conditions specified by the Committee. LTIP Units that are granted
in tandem with Non-Economic Shares or are exchangeable for Shares will be considered other equity-based Awards for purposes of the Plan. 

SECTION 10. Cash Incentive Awards 

Subject to the provisions of the Plan, the Committee shall have the authority to grant Cash Incentive Awards. Subject to Section 4(a), the
Committee shall establish Cash Incentive Award levels to determine the amount payable upon the attainment of the applicable Performance Goals. 
 SECTION
11. Change in Control Provision 
 (a) Impact of Event. In the event of a Change in Control, except to the extent
otherwise provided in an applicable Award Agreement, all Awards that are outstanding and unvested as of immediately prior to a Change in Control (after giving effect to any action by the Committee pursuant to Section 4(c)) shall remain
outstanding and unvested immediately thereafter; provided, however, that, immediately upon the involuntary Termination of Employment of a Participant, other than (x) for Cause or (y) due to the Participant’s death or
Disability, during the 12-month period following a Change in Control, all Awards then-held by such Participant shall be treated as follows: 

(i) any Options and Stock Appreciation Rights outstanding which are not then exercisable and vested shall become fully
exercisable and vested; 
 (ii) the restrictions applicable to any Restricted Stock shall lapse, and such Restricted Stock
shall become free of all restrictions and become fully vested and transferable; 
 (iii) all Stock Units shall vest in full
and be immediately settled; and 
 (iv) all other outstanding Awards (i.e., other than Options, Stock Appreciation
Rights, Restricted Stock and Stock Units) shall become exercisable and vested and all restrictions and forfeiture provisions related thereto shall lapse. 

(b) Substitution or Assumption. Notwithstanding Section 11(a) and except to the extent otherwise provided in an
applicable Award Agreement, and except as provided in Section 11(c), in the event of a Change in Control, unless provision is made in connection with the Change in Control for assumption or continuation of Awards previously granted or
substitution of such Awards for new awards covering shares of a successor corporation or its “parent corporation” (as defined in Section 424(e) of the Code) or “subsidiary corporation” (as defined in Section 424(f) of
the Code) with appropriate adjustments as to the number and kinds of shares and, if applicable, Exercise Prices and Performance Goals, in each case, that the Committee determines will preserve the material terms and conditions of such Awards as in
effect immediately prior to the Change in Control (including, without limitation, with respect to the 

  
 15 

 
vesting schedules, the intrinsic value of the awards (if any) as of the Change in Control, difficulty of achieving Performance Goals (if applicable) and transferability of the shares underlying
such Awards), immediately upon the occurrence of a Change in Control: 
 (i) any Options and Stock Appreciation Rights
outstanding which are not then exercisable and vested shall become fully exercisable and vested; 
 (ii) the restrictions
applicable to any Restricted Stock shall lapse, and such Restricted Stock shall become free of all restrictions and become fully vested and transferable; 

(iii) all Stock Units shall vest in full and be immediately settled; and 

(iv) the Committee may also make additional adjustments and/or settlements of outstanding Awards (including, without
limitation, Cash Incentive Awards) as it deems appropriate and consistent with the Plan’s purposes. 
 (c) Awards
Subject to Section 409A of the Code. Notwithstanding any provision of Section 11(b), unless otherwise provided in the applicable Award Agreement, if any amount payable pursuant to an Award constitutes deferred
compensation (within the meaning of Section 409A of the Code), in the event of a Change in Control, to the extent provided in Section 11(b), any unvested but outstanding Awards shall automatically vest as of the date of such Change in
Control and shall not be subject to the forfeiture restrictions following such Change in Control; provided that, in the event that such Change in Control does not qualify as an event described in Section 409A(a)(2)(A)(v) of the Code,
such Awards (and any other Awards that constitute deferred compensation that vested prior to the date of such Change in Control but are outstanding as of such date) shall not be settled until the earliest permissible payment event under
Section 409A of the Code following such Change in Control. 
 SECTION 12. Section 16(b) 

To the extent that Section 16 of the Exchange Act is applicable to the Company, the provisions of the Plan are intended to ensure that no
transaction under the Plan is subject to (and not exempt from) the short-swing recovery rules of Section 16(b) of the Exchange Act (“Section 16(b)”). Accordingly, to the extent that Section 16(b) is
applicable to the Company, the composition of the Committee shall be subject to such limitations as the Board deems appropriate to permit transactions pursuant to the Plan to be exempt (pursuant to Rule 16b-3
promulgated under the Exchange Act) from Section 16(b), and no delegation of authority by the Committee shall be permitted if such delegation would cause any such transaction to be subject to (and not exempt from) Section 16(b). 

SECTION 13. Section 409A of the Code 

(a) It is intended that the provisions of the Plan comply with Section 409A of the Code, and all provisions of the Plan
shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. 

(b) No Participant or the creditors or beneficiaries of a Participant shall have the right to subject any deferred compensation
(within the meaning of Section 409A of the Code) payable under the Plan to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A of the Code, any
deferred compensation (within the meaning of Section 409A of the Code) payable to any Participant or for the benefit of any Participant under the Plan may not be reduced by, or offset against, any amount owing by any such Participant to the
Company or any of its Affiliates. 

  
 16 

 (c) If, at the time of a Participant’s separation from service (within
the meaning of Section 409A of the Code), (i) such Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and
(ii) the Company shall make a good faith determination that an amount payable pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant
to the six-month delay rule set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount on the otherwise
scheduled payment date but shall instead pay it on the first business day after such six-month period. Except as otherwise determined by the Committee in its sole discretion or as set forth in any applicable
Award Agreement or Individual Agreement, such amount shall be paid without interest. 
 (d) Notwithstanding any provision of
the Plan to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, except as otherwise set forth in any applicable Award Agreement or Individual Agreement, the Company reserves the right to
make amendments to any Award as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, unless otherwise determined by the Committee in its sole discretion, a
Participant shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such Participant or for such Participant’s account in connection with an Award (including any taxes and penalties under
Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold such Participant harmless from any or all of such taxes or penalties. 

SECTION 14. Term, Amendment and Termination 

(a) Effectiveness. The Plan became effective upon its adoption by the Board upon the closing of the Merger, which
occurred on February 10, 2020 (such date, the “Effective Date”). 
 (b) Termination. The Plan
will remain in effect until the tenth anniversary of the Effective Date unless terminated by the Board prior to such date. Awards outstanding as of the date the Plan is terminated shall not be affected or impaired by the termination of the Plan.

 (c) Amendment of Plan. Subject to any applicable law or government regulation and to the rules of the Applicable
Exchange, the Board may amend, alter, or discontinue the Plan, without the approval of the shareholders of the Company, except that shareholder approval shall be required for any amendment that would (i) increase the maximum number of Shares
for which Awards may be granted under the Plan or increase the maximum number of Shares that may be delivered pursuant to Incentive Stock Options granted under the Plan; provided, however, that any adjustment under Section 4(c)
shall not constitute an increase for purposes of this Section 14(c), or (ii) change the class of Eligible Individuals pursuant to the Plan. No amendment, alteration or discontinuation shall be made which would impair the rights of a
Participant with respect to a previously granted Award without such Participant’s written consent, except that, unless otherwise provided in any applicable Award Agreement or Individual Agreement, such an amendment may be made in order to
comply with applicable law, tax rules, stock exchange rules or accounting rules. 
 (d) Amendment of Awards. Subject
to the restrictions on “repricing” of Options and Stock Appreciation Rights as set forth in Section 6(c), the Committee may unilaterally amend the terms of any Award theretofore granted, prospectively or retroactively; provided
that, except as specifically set forth in the Plan or in any applicable Award Agreement, no such amendment shall, without the Participant’s written consent, impair the rights of such Participant with respect to an Award, except that, unless
otherwise provided in any applicable Award Agreement or Individual Agreement, such an amendment may be made in order to cause the Plan or Award to comply with applicable law, tax rules, stock exchange rules or accounting rules. 

  
 17 

 SECTION 15. Unfunded Status of Plan 

It is presently intended that the Plan constitute an “unfunded” plan for incentive and deferred compensation. The Committee may
authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Shares or make payments; provided, however, that, except as the Committee, in its sole discretion, determines to be
necessary or desirable to achieve any non-U.S. tax objective, the existence of such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan. 

SECTION 16. Minimum Vesting Conditions 

Except for certain limited situations (including death, Disability, retirement, a Change in Control, grants to new hires to replace forfeited
compensation, grants representing payment of achieved Performance Goals or that vest upon the satisfaction of Performance Goals or other incentive compensation, Substitute Awards, grants to non-employee
directors or replacement of previously Outstanding Awards), all Awards granted under this Plan shall be subject to a minimum vesting period of one year (the “Minimum Vesting Condition”); provided, that such Minimum Vesting
Condition will not be required on the Initial Series A LTIP Grant, Initial Series B LTIP Grant or Awards covering, in the aggregate, a number of Shares not to exceed 5% of the maximum Share pool limit set forth in Section 4(a) hereof (subject
to adjustment as provided in Section 4(c) hereof). 
 SECTION 17. Clawback of Certain Benefits 

All Awards, other than the Initial Series A LTIP Grant and Initial Series B LTIP Grant, shall be subject to reduction, cancelation, forfeiture,
or recoupment to the extent necessary to comply with (a) any clawback, forfeiture, or other similar policy as in effect at the time such Award was granted or (b) as required by applicable law or the listing rules of the Applicable
Exchange. Further, the Company may provide in an Award Agreement that if the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of the Award due to a financial restatement, the
Participant shall be required to repay any such excess amount to the Company. 
 SECTION 18. General Provisions 

(a) Conditions for Issuance. The Committee may require each person purchasing or receiving Shares pursuant to an Award
to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to the distribution thereof. The certificates for such Shares may include any legend which the Committee deems appropriate to reflect any
restrictions on transfer. Notwithstanding any other provision of the Plan or agreements made pursuant thereto, the Company shall not be required to issue or deliver any certificate or certificates for Shares under the Plan prior to fulfillment of
all of the following conditions: (i) listing or approval for listing upon notice of issuance of such Shares on the Applicable Exchange; (ii) any registration or other qualification of such Shares of the Company under any state or federal
law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, in its absolute discretion upon the advice of counsel, deem necessary or advisable; and (iii) obtaining any other
consent, approval, or permit from any state or federal governmental agency which the Committee shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable. 

(b) Additional Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Subsidiary or
Affiliate from adopting or continuing in effect other compensation 

  
 18 

 
arrangements, which may, but need not, provide for the grant of options, stock appreciation rights, restricted stock, stock units, shares, other types of equity-based awards (subject to
shareholder approval if such approval is required) and cash incentive awards, and such arrangements may be either generally applicable or applicable only in specific cases. 

(c) No Contract of Employment. The Plan shall not constitute a contract of employment, and adoption of the Plan shall
not confer upon any employee any right to continued employment, nor shall it interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the employment of any employee at any time. 

(d) Required Taxes. No later than the date as of which an amount first becomes includible in the gross income of a
Participant for U.S. federal or other income tax purposes (or similar taxes in the applicable non-U.S. jurisdiction) with respect to any Award under the Plan, such Participant shall pay to the Company, or make
arrangements satisfactory to the Company regarding the payment of, any federal, state, local or foreign taxes or social security (or similar) contributions of any kind required by law to be withheld with respect to such amount. Unless otherwise
determined by the Company and subject to any applicable laws (including any laws that require that such withholding be effected as a repurchase and be permitted only to the extent such a repurchase would be permitted), the Company may require or
permit withholding obligations to be settled with Shares, including Shares that is part of the Award that gives rise to the withholding requirement. The obligations of the Company under the Plan shall be conditional on such payment or arrangements,
and the Company and its Affiliates shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to such Participant, and each Participant shall be deemed to have agreed and consented to such
deductions. The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the settlement of withholding obligations with Shares. 

(e) Deferral Arrangements. Subject to applicable law, the Committee may from time to time establish procedures pursuant
to which a Participant may elect to defer receipt of all or a portion of the cash, Shares or other property subject to an Award all on such terms and conditions as the Committee shall determine. 

(f) Limitation on Dividend Reinvestment and Dividend Equivalents. Reinvestment of dividends in additional Restricted
Stock at the time of any dividend payment, and the payment of Shares with respect to dividends to Participants holding Stock Units Awards, shall only be permissible if sufficient Shares are available under Section 4(a) for such reinvestment or
payment (taking into account then outstanding Awards). In the event that sufficient Shares are not available for such reinvestment or payment, such reinvestment or payment shall be made in the form of a grant of Stock Units equal in number to the
Shares that would have been obtained by such payment or reinvestment, the terms of which Stock Units shall provide for settlement at the same time as the underlying Restricted Stock or Stock Units in cash and for dividend equivalent reinvestment in
further Stock Units on the terms contemplated by this Section 18(f). 
 (g) Designation of Death Beneficiary. The
Committee shall establish such procedures as it deems appropriate for a Participant to designate a beneficiary to whom any amounts payable in the event of such Participant’s death are to be paid or by whom any rights of such eligible
Individual, after such Participant’s death, may be exercised. 
 (h) Subsidiary Employees. In the case of a grant
of an Award to any employee of a Subsidiary of the Company, the Company may, if the Committee so directs, issue or transfer the Shares, if any, covered by the Award to the Subsidiary, for such lawful consideration as the Committee may specify, upon
the condition or understanding that the Subsidiary will transfer the Shares to the employee in accordance with the terms of the Award specified by the Committee pursuant to the provisions of the Plan. The Committee may also adopt procedures
regarding treatment of any Shares so transferred to a Subsidiary that are subsequently forfeited or canceled. 

  
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 (i) Governing Law and Interpretation. The Plan and all Awards made
and actions taken thereunder shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. The captions of the Plan are not part of the provisions hereof and shall have
no force or effect. 
 (j) Non-Transferability. Except as otherwise provided
by the Committee or as set forth in the applicable Award Agreement, Awards under the Plan are not transferable except by will or by laws of descent and distribution. Notwithstanding the foregoing, in no event may any Award (or any rights and
obligations thereunder) be transferred to any third party in exchange for value unless such transfer is specifically approved by the Company’s shareholders; provided that, following vesting, transferability of the LTIP Units and Non-Economic Shares granted in tandem therewith shall be governed by the Operating Agreement, the applicable Award Agreement or, in the case of any Participant who is party to the Shareholder Agreement, the
Shareholder Agreement. 
 (k) Non-Pensionable. Benefits under the Plan shall
not be treated as pensionable earnings for purposes of any pension plan maintained by the Company and its Affiliates, unless explicitly provided otherwise in such plan. 

(l) Data Protection. By participating in the Plan, the Participant consents to the collection, processing, transmission
and storage by the Company, in any form whatsoever, of any data of a professional or personal nature which is necessary for the purposes of administering the Plan. The Company may share such information with any Subsidiary or Affiliate, any trustee,
its registrars, brokers, other third-party administrator or any Person who obtains control of the Company or one of its Subsidiaries or divisions. 

(m) Right of Offset. Subject to Sections 13(b), 14(c) and 14(d) and except as set forth in any applicable Award
Agreement or Individual Agreement, the Company or its Subsidiaries and Affiliates shall have the right to offset, against the obligation to pay amounts or issue Shares to any Participant under the Plan, any outstanding amounts (including, without
limitation, travel and entertainment expense, advance account balances, loans, tax withholding amounts paid by the employer or amounts repayable to the Company or its Subsidiaries and Affiliates pursuant to tax equalization, housing, automobile or
other employee programs) such Participant then owes to the Company or its Subsidiaries and Affiliates and any amounts the Committee otherwise deems appropriate pursuant to any written tax equalization policy or agreement. 

(n) Foreign Employees and Foreign Law Considerations. The Committee may grant Awards to Eligible Individuals who are
foreign nationals, who reside outside the United States or who are not compensated from a payroll maintained in the United States, or who are otherwise subject to (or could cause the Company to be subject to) legal or regulatory provisions of
countries or jurisdictions outside the United States, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to foster and promote achievement of the purposes of
the Plan and comply with such legal or regulatory provisions, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures, or sub-plans as may be necessary or
advisable to comply with such legal or regulatory provisions (including to avoid triggering a public offering or to maximize tax efficiency). 

  
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