Document:

EX-10.1

 Exhibit 10.1 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [●], 2021, is by and between Clarios International
Inc., a Delaware corporation (the “Company”), Brookfield Capital Partners V GP LLC, a Delaware limited liability company (“Brookfield”), CDPQ SMA (Carry Vehicle) LP, an Ontario limited partnership (“CDPQ
SMA”), Panther Co-Invest Vehicle LP, an Ontario limited partnership (“Panther Co-Invest”) and Panther B-Class LP, an Ontario limited partnership (“Panther B-Cass LP” and, together with CDPQ SMA and Panther
Co-Invest, “CDPQ” and, together with Brookfield, the “Sponsor Group” and each of Brookfield and CDPQ, a “Sponsor”). Each Sponsor and any other Person who may become a party hereto pursuant to
Sections 8 or 12(c) are referred to individually as a “Stockholder” and generally as a “Holder” and collectively as the “Stockholders” and generally as the “Holders.” 

WHEREAS, on the date hereof, the Company completed an initial public offering (the “IPO”) of shares of the Company’s
common stock, par value $0.01 per share (the “Common Stock”) pursuant to an underwriting agreement dated [●], 2021; and 

WHEREAS, each Sponsor desires to have, and the Company desires to grant, certain registration and other rights with respect to the Registrable
Securities following the IPO on the terms and subject to the conditions set forth in this Agreement. 
 NOW, THEREFORE, for and in
consideration of the mutual agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

Section 1.    Definitions. As used in this Agreement, the following terms shall have the following meanings,
and terms used herein but not otherwise defined herein shall have the meanings assigned to them in the Stockholder Rights Agreement dated [●], 2021. 

“Adverse Disclosure” means public disclosure of material non-public information that
the Company has determined in good faith (after consultation with legal counsel): (i) would be required to be made in any Registration Statement filed with the SEC by the Company so that such Registration Statement or report would not be materially
misleading; (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such Registration Statement or report; and (iii) the Company has a bona fide business purpose for not disclosing publicly.

 “Affiliate” shall have the meaning specified in Rule 12b-2 under the Exchange
Act. 
 “Agreement” shall have the meaning set forth in the Preamble. 

“Brookfield” shall have the meaning set forth in the Preamble. 

“CDPQ” shall have the meaning set forth in the Preamble. 

“Common Stock” shall have the meaning set forth in the Preamble. 

“Company” shall have the meaning set forth in the Preamble. 

 “Demand Notice” shall have the meaning set forth in Section 3(a). 

“Demand Registration” shall have the meaning set forth in Section 3(a). 

“Demand Suspension” shall have the meaning set forth in Section 8(q). 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and any successor statute thereto, and the rules
and regulations of the SEC promulgated thereunder. 
 “Holder” and “Holders” shall have the meanings set
forth in the Preamble. 
 “Indemnified Party” shall have the meaning set forth in Section 10(c). 

“Indemnifying Party” shall have the meaning set forth in Section 10(c). 

“Initiating Sponsor” means the Sponsor who delivers to the Company a Demand Notice, a Shelf Notice or a Take-Down Notice, as
applicable. 
 “IPO” shall have the meaning set forth in the Preamble. 

“IPO Lock-up Period” means the period ending 180 days after the date of the
prospectus relating to the IPO. 
 “Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in
Rule 433 under the Securities Act, relating to an offer of Registrable Securities. 
 “Long-Form Registration” shall have
the meaning set forth in Section 3(a). 
 “Losses” shall have the meaning set forth in Section 10(a). 

“Marketed Underwritten Offering” shall mean a registered Underwritten Offering of Registrable Securities (including any
registered underwritten Shelf Offering) that is consummated, withdrawn or abandoned by the applicable Holders following formal participation by the Company’s management in a customary “road show” (including an “electronic road
show”) or other similar marketing effort by the Company over a period of at least 48 hours. 
 “Offering Material”
means any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act, any written testing-the-waters communication or
any road show as defined in Rule 433(h) under the Securities Act. 
 “Offering Persons” shall have the meaning set forth in
Section 8(o). 
 “Permitted Assignee” shall have the meaning set forth in Section 12(c). 

  
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 “Person” shall mean any natural person, corporation, limited partnership,
general partnership, limited liability company, joint stock company, joint venture, association, company, estate, trust, bank trust company, land trust, business trust, or other organization, whether or not a legal entity, custodian,
trustee-executor, administrator, nominee or entity in a representative capacity and any government or agency or political subdivision thereof. 

“Piggyback Notice” shall have the meaning set forth in Section 6(a). 

“Piggyback Registration” shall have the meaning set forth in Section 6(a). 

“Piggyback Request” shall have the meaning set forth in Section 6(a). 

“Pro Rata Percentage” means, as of any date, with respect to a Holder, a number of Registrable Securities equal to
(i) the number of Registrable Securities held by such Holder as of such date multiplied by (ii) the Pro Rata Sponsor Percentage with respect to a Sponsor for the applicable Registration Statement. 

“Pro Rata Sponsor Percentage” means an amount equal to the fraction (expressed as a percentage) determined by dividing
(A) the number of Registrable Securities that the applicable Sponsor has requested to be registered on the applicable Registration Statement or included in the applicable Shelf Offering (provided that such number shall be reduced by the number
of Registrable Securities, if any, that such Sponsor shall withdraw therefrom in accordance with this Agreement by (B) the total number of Registrable Securities beneficially owned as of the date of such request (or such withdrawal, if
applicable) by such Sponsor (and its Affiliates and Permitted Assignees); provided, however, that the applicable Sponsor may freely re-allocate any number of Registrable Securities held by such Sponsor (or any
of its Affiliates and Permitted Assignees) to any of its Affiliates (or their Permitted Assignees) for purposes of determining a Pro Rata Sponsor Percentage. 

“Proceeding” shall mean an action, claim, suit, arbitration or proceeding (including an investigation or partial proceeding,
such as a deposition), whether commenced or threatened. 
 “Prospectus” shall mean the prospectus included in any
Registration Statement (including a prospectus that discloses information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A or Rule 430B under the Securities Act), as amended or
supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such prospectus. 

“Registrable Securities” shall mean, as of any date of determination, any shares of Common Stock that the Stockholders have
acquired or have the right to acquire and any other securities issued or issuable with respect to any such shares by way of share 

  
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split, share dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise acquired from time to time. As to any particular Registrable Securities, once
issued, such securities shall cease to be Registrable Securities when (i) they are sold pursuant to an effective Registration Statement under the Securities Act, (ii) the Stockholder thereof is able to dispose of all of its, his or her
Registrable Securities pursuant to Rule 144 without any volume limitations or manner of sale limitations thereunder, provided that at such time such Registrable Securities are not required to bear any legend restricting the transfer thereof, or
(iii) they shall have ceased to be outstanding. 
 “Registration Statement” shall mean any registration statement of
the Company filed, or to be filed with, the SEC under the Securities Act, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material incorporated by
reference or deemed to be incorporated by reference in such registration statement, that covers any of the Registrable Securities pursuant to the provisions of this Agreement. 

“Rule 144” shall mean Rule 144 under the Securities Act, as such rule may be amended from time to time, or any similar rule
or regulation hereafter adopted by the SEC. 
 “SEC” shall mean the Securities and Exchange Commission or any successor
agency having jurisdiction under the Securities Act. 
 “Securities Act” shall mean the Securities Act of 1933, as amended,
and any successor statute thereto, and the rules and regulations of the SEC promulgated thereunder. 
 “Shelf Holder” shall
have the meaning set forth in Section 4(b). 
 “Shelf Offering” shall have the meaning set forth in Section 4(d).

 “Shelf Registration Statement” means a Registration Statement of the Company filed with the SEC on Form S-3 (or any successor form or other appropriate form under the Securities Act) for an offering to be made on a continuous basis pursuant to Rule 415 (or any successor provision) under the Securities Act covering all
or any portion of the Registrable Securities, as applicable. 
 “Shelf Suspension” shall have the meaning set forth in
Section 4(c). 
 “Short-Form Registration” shall have the meaning set forth in Section 3(a). 

“Sponsor Group” shall have the meaning set forth in the Preamble. 

“Stockholder” and “Stockholders” shall have the meanings set forth in the Preamble. 

  
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 “Take-Down Notice” shall have the meaning set forth in Section 4(d).

 “Underwritten Registration” and “Underwritten Offering” shall mean a registration or offering, as the
case may be, in which securities of the Company are sold to an underwriter for reoffering to the public. 
 “Well-Known Seasoned
Issuer” shall have the meaning set forth in Rule 405 (or any successor provision) under the Securities Act. 

Section 2.    Holders of Registrable Securities. A Person is deemed, and shall only be deemed, to be a Holder
of Registrable Securities if such Person owns Registrable Securities or has a right to acquire such Registrable Securities and such Person is a Holder. 

Section 3.    Demand Registrations. 

(a)    Requests for Registration. Subject to the following paragraphs of this Section 3, each Sponsor shall
have the right, by delivering or causing to be delivered a written notice to the Company (a “Demand Notice”) from time to time, to require the Company to register pursuant to the terms of this Agreement, under and in accordance with
the provisions of the Securities Act, the offer and sale of the number of Registrable Securities requested to be so registered on Form S-3 (which, unless the applicable Sponsor requests otherwise, shall be
filed pursuant to Rule 415 under the Securities Act), if the Company is then eligible for such short-form or any similar or successor short-form registration (“Short-Form Registration”) or, if the Company is not then eligible for
Short-Form Registration, on Form S-1 or any similar or successor long-form registration (“Long-Form Registration”) (any such registration, a “Demand Registration”); provided
that (x) Brookfield shall be entitled to an unlimited number of Demand Registrations and (y) CDPQ shall be entitled to three (3) Demand Registrations; provided further, however, that unless a Sponsor requests to have registered all of
its Registrable Securities, a Demand Notice for a Marketed Underwritten Offering may only be made if the sale of the Registrable Securities requested to be registered by such Sponsor is reasonably expected to result in aggregate gross cash proceeds
in excess of $75,000,000 (without regard to any underwriting discount or commission). Following receipt of a Demand Notice for a Demand Registration in accordance with this Section 3(a), the Company shall use its reasonable best efforts to
(x) file with the SEC a Registration Statement in accordance with such Demand Notice and the provisions of this Agreement as promptly as reasonably practicable and, in any event, within thirty (30) days following receipt of such Demand
Notice and (y) cause such Registration Statement to become effective as promptly as practicable thereafter; provided, however, that if a Demand Notice is delivered prior to the expiration of the IPO
Lock-up Period and the IPO Lock-Up Period has not been waived by the Underwriters of the IPO, the Company shall not be obligated to file (but shall be obligated to
prepare) such Registration Statement prior to the expiration of the IPO Lock-up Period. With respect to any Underwritten Offering to be conducted pursuant to any Demand Registration, the Initiating Sponsor
shall select the underwriter(s) for such offering, 

  
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subject to the approval of such underwriter(s) by the board of directors of the Company (the “Board”). 

The Company shall use its reasonable best efforts to keep any Registration Statement with respect to any Demand Registration filed pursuant to
this Section 3(a) continuously effective under the Securities Act until the earlier to occur of (x) 180 days after the effective date thereof and (y) consummation of the distribution by the Holders of Registrable Securities included in
such Registration Statement. 
 No Demand Registration shall be deemed to have occurred for purposes of this Section 3, if (x) the
Registration Statement relating thereto (and covering all Registrable Securities specified in the applicable Demand Notice for sale in accordance with the intended method or methods of distribution specified in such Demand Notice, subject to any cut-back pursuant to Section 3(c)) (i) does not become effective, or (ii) is not maintained continuously effective for the period required pursuant to this Section 3, (y) the offering of the
Registrable Securities pursuant to such Registration Statement is subject to a stop order, injunction, or similar order or requirement of the SEC during such period or (z) the conditions to closing specified in any underwriting agreement,
purchase agreement, or similar agreement entered into in connection with the registration relating to such request are not satisfied other than as a result of the Initiating Sponsor’s actions. 

All requests made pursuant to this Section 3 shall: (i) state that it is a notice to initiate a Demand Registration under this
Agreement; and (ii) specify the number of Registrable Securities to be registered and the intended method(s) of disposition thereof. 

(b)    Company Notices. Within five (5) business days after receipt by the Company of a Demand Notice pursuant
to this Section 3, the Company shall deliver a written notice of any such Demand Notice to all Holders of Registrable Securities (other than the Initiating Sponsor), which shall offer each such Holder the opportunity to include in the Demand
Registration an amount of Registrable Securities up to its Pro Rata Percentage as each such Holder may request in writing. The Company shall, subject to the provisions of Section 3(c), include in such Demand Registration all such Registrable
Securities with respect to which the Company has received written requests for inclusion therein within ten (10) business days after the date that such notice has been delivered; provided that the Company shall not include in such Demand
Registration Registrable Securities of any Holder in an amount in excess of such Holder’s Pro Rata Percentage, and provided, further, that such Holders must agree to the method of distribution proposed by the applicable Sponsor and, in
connection with any Underwritten Registration, such Sponsor (together with the Company and the other Holders including securities in such Underwritten Registration) must enter into an underwriting agreement in the form reasonably approved by the
Company and each Sponsor whose Registrable Securities will be included in such Underwritten Registration. 

(c)    Priority on Demand Registration. If any of the Registrable Securities registered pursuant to a Demand
Registration are to be sold in an Underwritten Offering, and the managing underwriter(s) advise the Initiating Sponsor in writing that in its good faith determination the total number or dollar amount of Registrable Securities proposed

  
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to be sold in such offering is such as to adversely affect the price, timing or distribution of such offering (including securities proposed to be included by other Holders entitled to include
such securities in such Registration Statement pursuant to incidental or piggyback registration rights), then there shall be included in such Underwritten Offering the number or dollar amount of Registrable Securities that in the opinion of such
managing underwriter(s) can be sold without adversely affecting such offering, and such number of Registrable Securities shall be allocated as follows: (i) first, any Registrable Securities for which inclusion in such Demand Registration was
requested by the Initiating Sponsor; (ii) second, any Registrable Securities requested by the non-Initiating Sponsor; (iii) third, pro-rata among the Holders
of Registrable Securities other than the Sponsors that have requested to participate in such Demand Registration on the basis of the percentage of the Registrable Securities requested to be included in such Registration Statement by such Holders;
(iv) fourth, pro-rata among any other Holders entitled to include such securities in such Registration Statement pursuant to piggyback registration rights; and (v) fifth, any securities for which
inclusion in such Demand Registration was requested by the Company. 
 No securities excluded from the Underwritten Offering by reason of
the managing underwriter(s)’ marketing limitations shall be included in such offering. 
 (d)    Postponement of
Demand Registration. The Company may postpone, for a reasonable period of time on one or more occasions not in excess of 120 days in the aggregate (together with any Shelf Suspensions) in any 12-month
period, the filing (but not the preparation) of a Registration Statement if the Board determines in its good faith judgment that such Demand Registration would reasonably be expected to (i) materially interfere with any proposal or plan that is
material to the Company related to any financing, acquisition of assets or securities, recapitalization, merger, consolidation, tender offer, reorganization or similar transaction, (ii) require the Company to make an Adverse Disclosure or
(iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act. 
 If the Company shall so
postpone the filing of a Registration Statement, the Initiating Sponsor shall have the right to withdraw the request for registration by giving written notice to the Company and, for the avoidance of doubt, upon such withdrawal, the withdrawn
request shall not constitute a Demand Notice; provided that in the event the Initiating Sponsor does not so withdraw the request for registration, the Company shall continue to prepare a Registration Statement during such postponement such that it
shall be in a position to and shall, as promptly as practicable following the expiration of the applicable deferral or suspension period, file or update and use its reasonable efforts to cause the effectiveness of the applicable deferred or
suspended Registration Statement. 
 (e)    Cancellation of a Demand Registration. The Initiating Sponsor shall
have the right to notify the Company that it has determined that the applicable Registration Statement be abandoned or withdrawn by giving written notice of such abandonment or withdrawal to the Company at any time prior to the effective time of
such Registration Statement, in which event the Company shall 

  
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abandon or withdraw such Registration Statement; provided that such request shall constitute a Demand Notice under Section 3(a) unless the withdrawal is made pursuant to Section 3(d).

 (f)    In addition, any Holder that has requested its Registrable Securities be included in a Demand Registration
Statement pursuant to Section 3 may withdraw its Registrable Securities from such Demand Registration Statement at any time prior to the effectiveness of such Demand Registration Statement. 

Section 4.    Shelf Registration. 

(a)    Request for Shelf Registration. Subject to the following paragraphs of this Section 4, each Sponsor
shall have the right, by delivering or causing to be delivered a written notice to the Company and (a “Shelf Notice”) to require the Company to file pursuant to the terms of this Agreement, under and in accordance with the
provisions on the Securities Act, a Shelf Registration Statement for the offer and sale from time to time of the Registrable Securities held by such Sponsor within thirty (30) days of becoming eligible to do so under and in accordance with the
provisions of the Securities Act, and shall use commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective as soon as practicable thereafter; provided that the parties acknowledge and agree that the sale of
any Registrable Securities registered under such Shelf Registration Statement may be subject to restrictions imposed by lock-up or holdback restrictions and/or applicable securities laws. Such Shelf
Registration Statement shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any of the Holders named therein. For the avoidance of doubt,
the filing of a Shelf Registration Statement under this Section 4(a) shall not constitute a Demand Registration; provided that any request for an Underwritten Offering to be made under such Shelf Registration Statement shall constitute a Demand
Registration. 
 The Company shall use its reasonable best efforts to keep any Shelf Registration Statement filed pursuant to this
Section 4(a) continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by Shelf Holders until such securities cease to be Registrable Securities. 

Any request made pursuant to this Section 4(a) shall state that it is a notice to initiate the filing of a Shelf Registration Statement
under this Agreement, and specify the amount of Registrable Securities to be registered and the intended method(s) of distribution thereof. 

(b)    Company Notices. Within five (5) business days after receipt by the Company of a Shelf Notice pursuant
to Section 4, the Company shall deliver a written notice of such Shelf Notice to all Holders of Registrable Securities (other than the Initiating Holder), which shall offer each such Holder the opportunity to include in the Shelf Registration
Statement an amount of Registrable Securities up to its Pro Rata Percentage as each such Holder may request in writing (each such Holder delivering such a request, together with the applicable Sponsor, a “Shelf Holder”). The Company
shall 

  
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include in such Shelf Registration all such Registrable Securities with respect to which the Company has received written requests for inclusion therein within five (5) business days after
the date that such notice has been delivered; provided that the Company shall not include in such Shelf Registration Registrable Securities of any Holder in an amount in excess of such Holder’s Pro Rata Percentage. 

(c)    Suspension of Registration. The Company may postpone the filing or suspend the continued use, for a
reasonable period of time on one or more occasions not in excess of 120 days in the aggregate (together with any Demand Suspensions) in any 12-month period, of the Shelf Registration Statement (a
“Shelf Suspension”) if the Board determines in its good faith judgment that such Shelf Registration Statement would reasonably be expected to (i) materially interfere with any proposal or plan that is material to the Company
related to any financing, acquisition of assets or securities, recapitalization, merger, consolidation, tender offer, reorganization or similar transaction, (ii) require the Company to make an Adverse Disclosure or (iii) render the Company
unable to comply with requirements under the Securities Act or Exchange Act; provided, however, that such Shelf Suspension shall terminate at such time as such Shelf Registration Statement would no longer reasonably be expected to
(i) materially interfere with any proposal or plan that is material to the Company related to any financing, acquisition of assets or securities, recapitalization, merger, consolidation, tender offer, reorganization or similar transaction,
(ii) require the Company to make an Adverse Disclosure or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act. In the case of a Shelf Suspension, the Shelf Holders agree to suspend use of
the applicable Prospectus and any Issuer Free Writing Prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon delivery of notice by the Company. The Company shall promptly notify the Shelf
Holders upon the termination of any Shelf Suspension, amend or supplement the Prospectus and any Issuer Free Writing Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Shelf Holders such numbers of
copies of the Prospectus and any Issuer Free Writing Prospectus as so amended or supplemented as the Shelf Holders may reasonably request. The Company agrees, if necessary, to supplement or make amendments to the Shelf Registration Statement if
required by the registration form used by the Company for the applicable Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder, or as may reasonably be
requested by each Sponsor. 
 (d)    Shelf Take Downs. An offering or sale of Registrable Securities pursuant to
a Shelf Registration Statement (each, a “Shelf Offering”) may be initiated at any time by either Sponsor. If a Sponsor elects by written request to the Company (each, a “Take-Down Notice”), a Shelf Offering shall be
in the form of an Underwritten Offering, then the Company shall amend or supplement the Shelf Registration Statement as may be necessary in order to enable such Registrable Securities to be offered and sold pursuant to the Shelf Offering in
accordance with the provisions of this Agreement. With respect to any Shelf Offering that is an Underwritten Offering, the Initiating Sponsor shall select the underwriter(s) for such offering, subject to the approval of such underwriter(s) by the
Board. 

  
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In connection with any Shelf Offering that is a Marketed Underwritten Offering: 

(i)    the Company shall deliver a written notice to all Shelf Holders other than the Initiating Sponsor,
which shall offer each such Shelf Holder the opportunity to include in the Shelf Offering an amount of Registrable Securities up to its Pro Rata Percentage as such Shelf Holder may request in writing within five (5) business days after the date
that such notice has been delivered; provided that such Shelf Holder must agree to the method of distribution proposed by such Sponsor and enter into an underwriting agreement in the form reasonably approved by the Company and each Sponsor whose
Registrable Securities will be included in such Underwritten Registration; and 
 (ii)    in the event
that the managing underwriter(s) of such Shelf Offering advises the Initiating Sponsor in writing that in their good faith determination the total number or dollar amount of Registrable Securities proposed to be sold in such Shelf Offering is such
as to adversely affect the price, timing or distribution of such offering, then the managing underwriter(s) may limit the number of Registrable Securities which would otherwise be included in such Shelf Offering in the same manner as described in
Section 3(c) with respect to a limitation of Registrable Securities to be included in a Demand Registration. 

Section 5.    [Intentionally Omitted.] 

Section 6.    Piggyback Registration. 

(a)    Right to Piggyback. Except with respect to a Demand Registration or Shelf Registration, the procedures for
which are addressed in Sections 3 and 4, respectively, if the Company proposes to file (A) a Shelf Registration Statement or (B) a registration statement under the Securities Act with respect to an offering of securities other than a Shelf
Registration Statement, in either case, whether or not for sale for its own account and whether or not an Underwritten Offering or an Underwritten Registration (other than a registration statement (i) on Form
S-4, Form S-8 or any successor forms thereto, (ii) filed to effectuate a dividend reinvestment or similar plan or (iii) in which the only common equity being
registered is common equity issuable upon conversion of debt securities also being registered), then the Company shall give prompt written notice of such filing no later than five (5) business days prior to the filing date of any such
registration statement, including, for the avoidance of doubt, a Shelf Registration Statement, (the “Piggyback Notice”) to all of the Holders of Registrable Securities. The Piggyback Notice shall offer such Holders the opportunity
to include (or cause to be included) in such registration statement the number of applicable Registrable Securities as each such Holder may request (each, a “Piggyback Registration”). Subject to Section 6(b), the Company shall
include in each such Piggyback Registration all applicable Registrable Securities with respect to which the Company has received written requests for inclusion therein (each a “Piggyback 

  
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Request”) within three (3) business days after notice has been given to the applicable Holder except that the Company shall include in such Piggyback Registration all applicable
Registrable Securities with respect to which the Company has received Piggyback Requests within two (2) business days after notice has been given to the applicable Holder in the case of a “bought deal,” “registered direct
offering” or “overnight transaction” where no preliminary prospectus is used; provided that the Company shall not include in any Piggyback Registration Registrable Securities of any Holder in an amount in excess of such Holder’s
Pro Rata Percentage. The Company shall not be required to maintain the effectiveness of the Registration Statement for a Piggyback Registration beyond the earlier to occur of (x) 180 days after the effective date thereof and (y) consummation of
the distribution by the Holders of the Registrable Securities (other than those making Piggyback Requests) included in such Registration Statement. With respect to any such Underwritten Offering to be conducted by the Company, the underwriter(s) for
such offering shall be selected by a vote of the Board, subject to the reasonable satisfaction of the applicable Sponsor in the event that a Sponsor shall request inclusion of Registrable Securities therein. 

(b)    Priority on Piggyback Registrations. If any of the Registrable Securities to be registered pursuant to the
registration giving rise to the rights under this Section 6 are to be sold in an Underwritten Offering, the Company shall use reasonable best efforts to cause the managing underwriter(s) of a proposed Underwritten Offering to permit Holders of
Registrable Securities who have timely submitted a Piggyback Request in connection with such offering to include in such offering all Registrable Securities included in each Holder’s Piggyback Request on the same terms and subject to the same
conditions as any other securities, if any, of the Company included in the offering. Notwithstanding the foregoing, if the managing underwriter(s) of such Underwritten Offering advise the Company in writing that it is their good faith determination
the total number or dollar amount of securities that such Holders, the Company and any other Persons having rights to participate in such registration, intend to include in such offering is such as to adversely affect the price, timing or
distribution of the securities in such offering, then there shall be included in such Underwritten Offering the number or dollar amount of securities that in the opinion of such managing underwriter(s) can be sold without so adversely affecting such
offering, and such number of Registrable Securities shall be allocated as follows: (i) first, all securities proposed to be sold by the Company for its own account; (ii) second, all Registrable Securities requested to be included in such
registration by the Holders pursuant to this Section 6, pro rata among such Holders on the basis of the percentage of the Registrable Securities requested to be included in such Registration Statement by such Holders; and (iii) third, all
other securities requested to be included in such Registration Statement by other Holders of securities entitled to include such securities in such Registration Statement pursuant to piggyback registration rights; provided that any Holder may, prior
to the effectiveness of the Registration Statement, withdraw its request to be included in such registration pursuant to this Section 6. 

  
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 Section 7.    Restrictions on Public Sale by Holders of
Registrable Securities. 
 (a)    With respect to any Underwritten Offering of Registrable Securities pursuant to
this Agreement (including with respect to a Shelf Offering pursuant to Section 4(c) hereof), the Company will cause each of its executive officers and directors to sign a customary “lock-up”
agreement containing provisions consistent with those contemplated pursuant to this Section 7 and agrees not to (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell,
grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, submit or file with the SEC a registration statement under the Securities Act relating to, any shares of Common Stock or any securities
convertible into or exercisable or exchangeable for Common Stock, or publicly disclose the intention to make any offer, sale, pledge, disposition, submission or filing, or (ii) enter into any swap or other agreement that transfers, in whole or
in part, any of the economic consequences of ownership of the Common Stock or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities,
in cash or otherwise, without the prior written consent of the Underwriters of such Underwritten Offering (other than (A) a registration statement on Form S-8 or any successor forms thereto,
(B) Common Stock issued upon the exercise of options, (C) the grant by the Company of awards under stock plans and (D) the issuance of Common Stock or other securities in connection with acquisitions, joint ventures or other strategic
transactions) for its own account, within ninety (90) days after the date of the Prospectus (or Prospectus supplement if the offering is made pursuant to a Shelf Registration) for such offering except as may otherwise be agreed with the Sponsor
Group. 
 (b)    Each Stockholder of Registrable Securities agrees with all other Stockholders of Registrable Securities
and the Company in connection with any Underwritten Offering of Registrable Securities made pursuant to a Registration Statement filed pursuant to Section 3 or Section 4, as applicable, if requested in writing by the managing
underwriter(s) in such offering, it will not (i) subject to customary exceptions, effect any public sale or distribution of any of the Company’s securities (except as part of such Underwritten Offering), including a sale pursuant to Rule
144 or any swap or other economic arrangement that transfers to another Person any of the economic consequences of owning Common Stock, or (ii) give any Demand Notice during the period commencing on the date of the Prospectus pursuant to which
such Underwritten Offering may be made and continuing for not more than ninety (90) days after the date of such Prospectus (or Prospectus supplement if the offering is made pursuant to a Shelf Registration). In connection with any Underwritten
Offering made pursuant to a Registration Statement filed pursuant to Section 3 or Section 4, the applicable Sponsor shall be responsible for negotiating all “lock-up” agreements with the
underwriters and, in addition to the foregoing provisions of this Section 7, the Stockholders agree to execute the form so negotiated; provided that the form so negotiated is reasonably acceptable to the applicable Sponsor and consistent with
the agreement set forth in this Section 7 and that the Company’s executive officers and directors shall also have executed a form of agreement substantially similar to the agreement so negotiated, subject to customary exceptions applicable
to natural persons. 

  
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 Section 8.    Registration Procedures. If and whenever the
Company is required to effect the registration of any Registrable Securities under the Securities Act as provided in Section 3 or Section 4, the Company shall use its reasonable best efforts to effect such registration to permit the sale
of such Registrable Securities in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company shall cooperate in the sale of the securities and shall use its reasonable best efforts, as promptly as
practicable to the extent applicable, to: 
 (a)    prepare and file with the SEC a Registration Statement or
Registration Statements on such form as shall be available for the sale of the Registrable Securities by the Holders thereof or by the Company in accordance with the intended method or methods of distribution thereof and in accordance with this
Agreement, and use its reasonable best efforts to cause such Registration Statement to become effective and to remain effective as provided herein; provided, however, that before filing a Registration Statement or Prospectus or any amendments or
supplements thereto (including documents that would be incorporated or deemed to be incorporated therein by reference), the Company shall furnish or otherwise make available to the Holders of the Registrable Securities covered by such Registration
Statement, their counsel and the managing underwriters, if any, copies of all such documents proposed to be filed, which documents will be subject to the reasonable review and comment of such counsel, and such other documents reasonably requested by
such counsel, including any comment letter from the SEC, and, if requested by such counsel, provide such counsel reasonable opportunity to participate in the preparation of such Registration Statement and each Prospectus included therein and such
other opportunities to conduct a reasonable investigation within the meaning of the Securities Act, including reasonable access to the Company’s books and records, officers, accountants and other advisors. The Company shall not file any such
Registration Statement or Prospectus or any amendments or supplements thereto (including such documents that, upon filing, would be incorporated or deemed to be incorporated by reference therein) with respect to a Demand Registration to which a
Sponsor, its counsel, or the managing underwriters, if any, shall reasonably object, in writing, on a timely basis, unless, in the opinion of the Company’s counsel, such filing is necessary to comply with applicable law; 

(b)    prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may
be necessary to keep such Registration Statement continuously effective during the period provided herein and comply in all material respects with the provisions of the Securities Act with respect to the disposition of all securities covered by such
Registration Statement; and cause the related Prospectus to be supplemented by any Prospectus supplement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of the securities covered by such
Registration Statement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; 

(c)    notify each selling Holder of Registrable Securities, its counsel and the managing underwriters, if any, promptly,
and (if requested by any such Person) confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or post-

  
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effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the SEC or any
other federal or state governmental authority for amendments or supplements to a Registration Statement or related Prospectus or for additional information, (iii) of the issuance by the SEC of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose, (iv) if at any time the Company has reason to believe that the representations and warranties of the Company contained in any agreement (including any underwriting
agreement) contemplated by Section 8(n) below cease to be true and correct, (v) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, and (vi) if the Company has knowledge of the happening of any event that makes any statement made in such Registration Statement or
related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such Registration Statement, Prospectus or documents so that, in the case
of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading, and that in the case of the
Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading (which notice
shall notify the selling Holders only of the occurrence of such an event and shall provide no additional information regarding such event to the extent such information would constitute material non-public
information); 
 (d)    prevent the issuance or obtain the withdrawal of any order suspending the effectiveness of a
Registration Statement, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction at the earliest date reasonably practicable; 

(e)    if requested by the managing underwriters, if any, or a Sponsor in connection with an Underwritten Offering,
promptly include in a Prospectus supplement or post-effective amendment such information as the managing underwriters, if any, and a Sponsor may reasonably request in order to permit the intended method of distribution of such securities and make
all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received such request; provided, however, that the Company shall not be required to take any actions under this
Section 8 that are not, in the opinion of counsel for the Company, in compliance with applicable law; 

(f)    furnish or make available to each selling Holder of Registrable Securities, its counsel and each managing
underwriter, if any, without charge, at least one conformed copy of the Registration Statement, the Prospectus and Prospectus supplements, if applicable, and each post-effective amendment thereto, including financial statements (but excluding
schedules, all documents incorporated or deemed to be incorporated therein by reference, and all exhibits, unless requested in writing by such Holder, counsel 

  
 14 

 
or underwriter); provided that the Company may furnish or make available any such documents in electronic format; 

(g)    deliver to each selling Holder of Registrable Securities, its counsel, and the underwriters, if any, without
charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or supplement thereto as such Persons may reasonably request from time to time in connection with the distribution of the Registrable
Securities; provided that the Company may furnish or make available any such documents in electronic format (other than, in the case of an Underwritten Offering, upon the request of the managing underwriters thereof for printed copies of any such
Prospectus or Prospectuses); and the Company, subject to the last paragraph of this Section 8, hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable Securities and
the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any such amendment or supplement thereto; 

(h)    prior to any Underwritten Offering of Registrable Securities, register or qualify or cooperate with the selling
Holders of Registrable Securities, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale
under the securities or “blue sky” laws of such jurisdictions within the United States as any seller or underwriter reasonably requests in writing and to keep each such registration or qualification (or exemption therefrom) effective
during the period such Registration Statement is required to be kept effective pursuant to this Agreement and to take any other action that may be necessary or advisable to enable such Holders of Registrable Securities to consummate the disposition
of such Registrable Securities in such jurisdiction; provided, however, that the Company will not be required to (i) qualify generally to do business in any jurisdiction where would not otherwise be required to qualify but for this Agreement or
(ii) take any action that would subject it to taxation or general service of process in any such jurisdiction where it would not otherwise be subject but for this Agreement; 

(i)    cooperate with, and direct the Company’s agents to cooperate with, the selling Holders of Registrable
Securities and the managing underwriters, if any, to facilitate the timely settlement of any offering or sale of Registrable Securities, including the preparation and delivery of certificates (not bearing any legends) or book-entry (not bearing stop
transfer instructions) representing Registrable Securities to be sold after receiving written representations from each Holder of such Registrable Securities that the Registrable Securities represented by the certificates so delivered by such Holder
will be transferred in accordance with the Registration Statement and, in connection therewith, if reasonably required by the Company’s agents, the Company shall promptly after the effectiveness of the registration statement cause an opinion of
counsel as to the effectiveness of any Registration Statement to be delivered to and maintained with its agent, together with any other authorizations, certificates and directions required by the agent which authorize and direct the agent to issue
such Registrable Securities without restriction upon sale by the Holder of such shares of Registrable Securities under the Registration Statement; 
  

  
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 (j)    upon the occurrence of, and its knowledge of, any event
contemplated by Section 8(c)(vi) above, prepare a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus (then in effect) or any document incorporated or deemed to be incorporated therein
by reference, or file any other required document so that, as thereafter delivered to the Holder of the Registrable Securities being sold thereunder, such that the Registration Statement will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading, and the Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; 

(k)    prior to the effective date of the Registration Statement relating to the Registrable Securities, provide a CUSIP
number for the Registrable Securities; 
 (l)    provide and cause to be maintained a transfer agent and registrar for
all Registrable Securities covered by such Registration Statement from and after a date not later than the effective date of such Registration Statement; 

(m)    cause all Registrable Securities covered by such Registration Statement to be listed on a national securities
exchange if the particular class of Registrable Securities is at that time listed on such exchange, as the case may be, prior to the effectiveness of such Registration Statement; 

(n)    enter into such agreements (including underwriting agreements in form, scope and substance as is customary in
Underwritten Offerings and such other documents reasonably required under the terms of such underwriting agreements, including obtaining (i) a cold comfort letter from the Company’s independent public accountants in customary form and
covering such matters of the type customarily covered by cold comfort letters and (ii) opinions of counsel from the Company’s counsel in customary form and covering such matters of the type customarily covered in a public issuance of
securities, in each case, in form and substance reasonably satisfactory to the underwriters and addressed to the managing underwriters) and take all such other actions reasonably requested by a Sponsor in connection therewith (including those
reasonably requested by the managing underwriters, if any) to expedite or facilitate the disposition of such Registrable Securities; 

(o)    in connection with a customary due diligence review, make available for inspection by a representative of the
selling Holders with Registrable Securities, any underwriter participating in any such disposition of Registrable Securities, if any, and any counsel or accountants retained by such selling Holders or underwriter (collectively, the “Offering
Persons”), at the offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, and cause the officers, directors and
employees of the Company and its subsidiaries to supply all information and participate in customary due diligence sessions in each case reasonably requested by any such representative, underwriter, counsel or accountant in connection with such
Registration Statement, provided, however, that any information that is not generally publicly available at the time of delivery of such information shall be kept confidential by such Offering Persons unless (i) disclosure of such information
is required by court or administrative order or in connection with an audit or examination by, or a blanket document request from, a regulatory or self-regulatory authority, bank examiner or auditor, (ii) disclosure of such information, in the
reasonable judgment of the Offering Persons, is required by law or applicable legal process (including in connection with the offer and sale of securities 

  
 16 

 
pursuant to the rules and regulations of the SEC), (iii) such information is or becomes generally available to the public other than as a result of a
non-permitted disclosure or failure to safeguard by such Offering Persons in violation of this Agreement or (iv) such information (A) was known to such Offering Persons (prior to its disclosure by
the Company) from a source other than the Company when such source, to the knowledge of the Offering Persons, was not bound by any contractual, legal or fiduciary obligation of confidentiality to the Company with respect to such information,
(B) becomes available to the Offering Persons from a source other than the Company when such source, to the knowledge of the Offering Persons, is not bound by any contractual, legal or fiduciary obligation of confidentiality to the Company with
respect to such information or (C) was developed independently by the Offering Persons or their respective representatives without the use of, or reliance on, information provided by the Company. In the case of a proposed disclosure pursuant to
(i) or (ii) above, such Person shall be required to give the Company written notice of the proposed disclosure prior to such disclosure (except in the case of (ii) above when a proposed disclosure was or is to be made in connection with a
Registration Statement or Prospectus under this Agreement and except in the case of clause (i) above when a proposed disclosure is in connection with a routine audit or examination by, or a blanket document request from, a regulatory or
self-regulatory authority, bank examiner or auditor); 
 (p)    cooperate with each seller of Registrable Securities and
each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA, including the use of reasonable best efforts to obtain FINRA’s
pre-clearance or pre-approval of the Registration Statement and applicable Prospectus upon filing with the SEC; and 

(q)    in the case of a Underwritten Offering, cause the senior executive officers of the Company to participate in the
customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such offering and otherwise to facilitate, cooperate with and participate in each proposed offering contemplated herein
and customary selling efforts related thereto. 
 Each Holder of Registrable Securities as to which any registration is being effected shall
furnish to the Company in writing such information required in connection with such registration regarding such seller and the distribution of such Registrable Securities as the Company may, from time to time, reasonably request in writing as a
condition for any Registrable Securities to be included in the applicable registration 

  
 17 

 
hereunder. For the avoidance of doubt, failure of any Holder of Registrable Securities to furnish the Company with such information as requested by the Company pursuant to the preceding sentence
shall relieve the Company of any obligation hereunder to include the applicable Registrable Securities in the Registration Statement with respect to which such information was requested. 

Each Holder of Registrable Securities agrees if such Holder has Registrable Securities covered by such Registration Statement that, upon
receipt of any written notice from the Company of the happening of any event of the kind described in Section (c)(ii), (iii), (iv), (v) or (vi) (“Demand Suspension”), such Holder will forthwith discontinue disposition of such
Registrable Securities pursuant to such Registration Statement or Prospectus until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 8(j), or until it is advised in writing by the Company
that the use of the applicable Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus; provided, however, that the time periods
under Section 3 with respect to the length of time that the effectiveness of a Registration Statement must be maintained shall automatically be extended by the amount of time the Stockholder is required to discontinue disposition of such
securities. 
 Notwithstanding anything herein to the contrary and subject to applicable law and regulation, the Company may satisfy any
obligation hereunder to file a Registration Statement or to have a Registration Statement become effective by a specified date by designating, by notice to the Holders, a registration statement that previously has been filed with the SEC or become
effective, as the case may be, as the relevant Registration Statement for purposes of satisfying such obligation, and all references to any such obligation or Registration Statement shall be construed accordingly; provided that such previously filed
registration statement may be amended to add the number of Registrable Securities, and, to the extent necessary, to identify as selling securityholders those Holders required to be included in the Registration Statement pursuant to the terms of this
Agreement. 
 Section 9.    Registration Expenses. All fees and expenses incurred by the Company and
incident to the performance of or compliance with this Agreement by the Company (including without limitation (i) all registration and filing fees (including fees and expenses with respect to (A) all SEC, stock exchange or trading system
and FINRA registration, listing, filing and qualification and any other reasonable fees associated with such filings, including with respect to counsel for the underwriters and any qualified independent underwriter in connection with FINRA
qualifications, (B) rating agencies and (C) compliance with securities or “blue sky” laws, including any reasonable fees and disbursements of counsel for the underwriters in connection with “blue sky” qualifications of
the Registrable Securities pursuant to Section 8(h)), (ii) fees and expenses of the financial printer, (iii) messenger, telephone and delivery expenses of the Company, (iv) fees and disbursements of counsel for the Company,
(v) fees and disbursements of all independent certified public accountants, including the expenses of any special audits and/or “comfort letters” required by or incident to such performance

  
 18 

 
and compliance) and (vi) all reasonable fees and expenses of one counsel retained by the Holders of Registrable Securities, shall be borne by the Company, whether or not any Registration
Statement is filed or becomes effective. All underwriters’ discounts and selling commissions, in each case related to Registrable Securities registered in accordance with this Agreement, shall be borne by the Holders of Registrable Securities
included in such registration pro rata among each other on the basis of the number of Registrable Securities so registered. 
 In addition,
the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. 

Section 10.    Indemnification. 

(a)    Indemnification by the Company. The Company shall indemnify and hold harmless each Holder of Registrable
Securities whose Registrable Securities are covered by a Registration Statement or Prospectus, its Affiliates, directors and officers from and against any and all losses, claims, damages and liabilities (including, without limitation, reasonable
legal fees and other reasonable expenses incurred and documented in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred) (collectively, “Losses”), joint or several, that arise
out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or caused by any omission or alleged omission to state therein a material fact required to be stated
therein or necessary in order to make the statements therein, not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, Issuer Free Writing Prospectus or Offering Material, or
caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses,
claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Holder furnished to the Company in
writing by such Holder expressly for use therein. 
 (b)    Indemnification by Holder of Registrable Securities.
Each Holder of Registrable Securities shall indemnify and hold harmless, severally and not jointly, the Company, its directors, its officers and each Person who controls the Company within the meaning of Section 15 of the Securities Act and
Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any Losses, joint or several, that arise out of, or are based upon, any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement, Prospectus, Issuer Free Writing
Prospectus or Offering Material. 

  
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 (c)    Conduct of Indemnification Proceedings. If any Person
shall be entitled to indemnification hereunder (each, an “Indemnified Party”), such Indemnified Party shall give prompt notice to the party from which such indemnity is sought (each, an “Indemnifying Party”) of any
claim or of the commencement of any Proceeding with respect to which such Indemnified Party seeks indemnification or contribution pursuant hereto; provided, however, that the delay or failure to so notify the Indemnifying Party shall not relieve the
Indemnifying Party from any obligation or liability except to the extent that the Indemnifying Party has been materially prejudiced by such delay or failure. The Indemnifying Party shall have the right, exercisable by giving written notice to an
Indemnified Party promptly after the receipt of written notice from such Indemnified Party of such claim or Proceeding, to, unless in the Indemnified Party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist in respect of such claim, assume, at the Indemnifying Party’s expense, the defense of any such claim or Proceeding, with counsel reasonably satisfactory to such Indemnified Party; provided, however, that an Indemnified Party
shall have the right to employ separate counsel in any such claim or Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless: (i) the Indemnifying
Party agrees to pay such fees and expenses; (ii) the Indemnifying Party fails to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Indemnified Party; (iii) in the reasonable judgment
of any such Indemnified Party (based upon advice of its counsel) a conflict of interest exists and the Indemnifying Party cannot assume the defense of such claim or Proceeding; or the Indemnifying Party fails to employ counsel reasonably
satisfactory to such Indemnified Party in any such Proceeding, in which case the Indemnified Party shall have the right to employ separate counsel and to assume the defense of such claim or proceeding at the Indemnifying Party’s expense;
provided, further, however, that the Indemnifying Party shall not, in connection with any one such claim or Proceeding or separate but substantially similar or related claims or Proceedings in the same jurisdiction, arising out of the same general
allegations or circumstances, be liable for the fees and expenses of more than one firm of attorneys (together with appropriate local counsel) at any time for all of the Indemnified Parties. Whether or not such defense is assumed by the Indemnifying
Party, such Indemnifying Party will not be subject to any liability for any settlement made without its consent (but such consent will not be unreasonably withheld). The Indemnifying Party shall not consent to entry of any judgment or enter into any
settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in respect
of such claim or litigation for which such Indemnified Party would be entitled to indemnification hereunder. All fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with
investigating or preparing to defend such proceeding in a manner not inconsistent with this Section 10) shall be paid to the Indemnified Party, as incurred, promptly upon receipt of written notice thereof to the Indemnifying Party (regardless
of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder, provided that the Indemnifying Party may require such Indemnified Party to undertake to reimburse all such fees and expenses to the extent
it is finally judicially determined that 

  
 20 

 
such Indemnified Party is not entitled to indemnification under this Section 10). 

(d)    Contribution. If the indemnification provided for in this Section 10 is unavailable to an Indemnified
Party in respect of any Losses (other than in accordance with its terms), then each applicable Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result
of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in
such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any action
in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made (or omitted) by, or relates to information supplied by, such Indemnifying Party or Indemnified
Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent any such action, statement or omission. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 11 were determined by pro rata
allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 10(d), an Indemnifying Party that is a
selling Stockholder of Registrable Securities shall not be required to contribute any amount in excess of the amount that such Indemnifying Party has otherwise been, or would otherwise be, required to pay pursuant to Section 10 by reason of
such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation. 
 (e)    Notwithstanding the foregoing, to the extent that the provisions
on indemnification and contribution contained in the underwriting agreement entered into in connection with the Underwritten Offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

Section 11.    Rule 144. The Company shall use reasonable best efforts to: (i) file the reports required
to be filed by it under the Securities Act and the Exchange Act in a timely manner, to the extent required from time to time to enable all Holders to sell Registrable Securities without registration under the Securities Act within the limitations of
the exemption provided by Rule 144; and (ii) so long as any Registrable Securities are outstanding, furnish Holders thereof upon request (A) a written statement by the Company as to its compliance with the reporting requirements of Rule
144 under the Securities Act, and of the Exchange Act and (B) a copy of the most recent annual or quarterly report of the Company (except to the extent the same is available on the SEC’s Electronic Data Gathering, Analysis, and Retrieval
system). 

  
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 Section 12.    Miscellaneous. 

(a)    Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not
be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given without the written consent of each Sponsor. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Stockholders of Registrable Securities whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other
Stockholders of Registrable Securities may be given by Stockholders of at least a majority of the Registrable Securities being sold by such Holders pursuant to such Registration Statement. 

(b)    Notices. All notices required to be given hereunder shall be in writing and shall be deemed to be duly given
if personally delivered, telecopied and confirmed, emailed and confirmed or mailed by certified mail, return receipt requested, or overnight delivery service with proof of receipt maintained, at the following address (or any other address that any
such party may designate by written notice to the other parties): if to the Company, to the address of its principal executive offices; if to any Holder, at such Holder’s address as set forth on the records of the Company or such other address
as such Holder notifies the Company in writing. Any such notice shall, if delivered personally, be deemed received upon delivery; shall, if delivered by telecopy or email, be deemed received on the first business day following confirmation; shall,
if delivered by overnight delivery service, be deemed received the first business day after being sent; and shall, if delivered by mail, be deemed received upon the earlier of actual receipt thereof or five (5) business days after the date of
deposit in the United States mail. 
 (c)    Successors and Assigns; Stockholder Status. Each party may assign
all or a portion of its rights hereunder to any Person to which such party Transfers (as defined in the Stockholder Rights Agreement) (each such Person, a “Permitted Assignee”). Pursuant to the Stockholder Rights Agreement, the
Stockholders may not Transfer any shares of Common Stock to any Person identified as a “Prohibited Transferee.” This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the
parties, including subsequent holders of Registrable Securities acquired, directly or indirectly, from the Holders in compliance with any restrictions on transfer or assignment; provided, however, that (x) the Company may not assign this
Agreement (in whole or in part) without the prior written consent of the Holders with a majority of the Registrable Securities and (y) such successor or assign shall not be entitled to such rights unless the successor or assign shall have
executed and delivered to the Company an Addendum Agreement substantially in the form of Exhibit A hereto (which shall also be executed by the Company) promptly following the acquisition of such Registrable Securities. Except as provided in
Section 10 with respect to an Indemnified Party, nothing expressed or mentioned in this Agreement is intended or shall be construed to give any Person other than the parties hereto and their respective successors and permitted assigns any legal
or equitable right, remedy or claim under, in or in respect of this Agreement or any provision herein contained. 

  
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 (d)    Counterparts. This Agreement may be executed by any one or
more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. Counterparts may be delivered via facsimile,
electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, the Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

(e)    Headings; Construction. The section and paragraph headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Unless the context requires otherwise: (i) pronouns in the masculine, feminine and neuter genders shall be construed to include any other gender, and
words in the singular form shall be construed to include the plural and vice versa; (ii) the term “including” shall be construed to be expansive rather than limiting in nature and to mean “including, without limitation,”;
(iii) references to sections and paragraphs refer to sections and paragraphs of this Agreement; and (iv) the words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and words of
similar import refer to this Agreement as a whole, including Exhibit A hereto, and not to any particular subdivision unless expressly so limited. 

(f)    Governing Law. This Agreement and all claims arising out of or based upon this Agreement or relating to the
subject matter hereof shall be governed by and construed in accordance with, the laws of the State of New York. 

(g)    Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of
competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable. 
 (h)    Entire Agreement. This Agreement by and between the Company, Brookfield and CDPQ is
intended by the parties as a final expression of their agreement, and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no
restrictions, promises, warranties or undertakings, other than those set forth or referred to herein, with respect to the registration rights granted by the Company with respect to Registrable Securities. This Agreement, supersedes all prior
agreements and understandings between the parties with respect to such subject matter. 

  
 23 

 (i)    Securities Held by the Company or its Subsidiaries.
Whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or its subsidiaries shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage. 
 (j)    Specific Performance; Further
Assurances. The parties hereto recognize and agree that money damages may be insufficient to compensate the Holders of any Registrable Securities for breaches by the Company of the terms hereof and, consequently, that the equitable remedy of
specific performance of the terms hereof will be available in the event of any such breach. The parties hereto agree that in the event the registrations and sales of Registrable Securities are effected pursuant to the laws of any jurisdiction
outside of the United States, such parties shall use their respective reasonable best efforts to give effect as closely as possible to the rights and obligations set forth in this Agreement, taking into account customary practices of such foreign
jurisdiction, including executing such documents and taking such further actions as may be reasonably necessary in order to carry out the foregoing. 

(k)    Term. This Agreement shall terminate with respect to a Holder upon the earlier of (i) the date on which
such Holder ceases to hold Registrable Securities and (ii) the first anniversary of the date such Holder is eligible to sell its Registerable Securities pursuant to Rule 144 without limitation as to volume or manner of sale; provided that such
Holder’s rights and obligations pursuant to Section 10, as well as the Company’s obligations to pay expenses pursuant to Section 10, shall survive with respect to any registration statement in which any Registrable Securities of
such Holders were included. From and after the date of this Agreement, the Company shall not, without the consent of each Sponsor, enter into any agreement with any Person giving, including any Holder or prospective Holder of any securities of the
Company, any registration rights (i) the terms of which are more favorable than, senior to or conflict with, the registration rights granted to the Holders hereunder or (ii) permitting such Person to exercise a demand registration right
during the period expiring on the second anniversary of the date hereof; provided that, the Company may enter into an agreement granting such rights if such agreement provides the Holders with piggyback rights consistent with those granted to the
Holders pursuant to Section 6, and, if such agreement contains any underwriter cutbacks consistent with Section 6(b), then the Holders shall participate with such other Holders on a pro rata basis; and provided, further, that the Company
may enter into an agreement granting such demand rights in connection with the issuance of securities of the Company pursuant to (i) a bona fide material acquisition, disposition or other similar transaction involving the Company or any of its
subsidiaries, (ii) the terms of any employment agreement or arrangement or employee benefit plan of the Company or any of its subsidiaries, (iii) an exchange of indebtedness of the Company into equity and (iv) a proposed resale of
convertible securities of the Company by any Holder thereof, in each case, to the extent that the entering into of such an agreement is customary in a transaction of the type contemplated. 

  
 24 

 (l)    Consent to Jurisdiction; Waiver of Jury Trial. The parties
hereto hereby irrevocably submit to the non-exclusive jurisdiction of the courts of the State of New York located in New York County and the federal courts of the United States of America located in New York
County, and appropriate appellate courts therefrom, over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby, and each party hereby irrevocably agrees that all claims in respect of such dispute or
proceeding may be heard and determined in such courts. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection which they may now or hereafter have to the laying of venue of any dispute arising out of
or relating to this Agreement or any of the transactions contemplated hereby brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. This consent to jurisdiction is being given solely for purposes of this Agreement and is not intended to, and shall not, confer consent to jurisdiction
with respect to any other dispute in which a party to this Agreement may become involved. 
 Each of the parties hereto hereby consents to
process being served by any party to this Agreement in any suit, action, or proceeding of the nature specified in the paragraph above by the mailing of a copy thereof in the manner specified by the provisions of Section 12(b). 

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR
RELATING TO THIS AGREEMENT. 

  
 25 

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

			
	BROOKFIELD CAPITAL PARTNERS V GP LLC
		
	By:	 	  

		 	Name:
		 	Title:
	  
 CDPQ SMA (CARRY VEHICLE) LP

		
	By:	 	  

		 	Name:
		 	Title:
	  
 PANTHER CO-INVEST VEHICLE LP

		
	By:	 	  

		 	Name:
		 	Title:
	  
 PANTHER CO-INVEST VEHICLE LP

		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Registration Rights Agreement] 

 EXHIBIT A 

ADDENDUM AGREEMENT 
 This
Addendum Agreement is made this day of , 20 , by and between (the “New Holder”) and Clarios International Inc. (the “Company”), pursuant to a Registration Rights Agreement dated as of [●], 2021 (the
“Agreement”), by and between the Company, Brookfield and CDPQ. Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in the Agreement. 

W I T N E S S E T H: 

WHEREAS, the Company has agreed to provide registration rights with respect to the Registrable Securities as set forth in the Agreement; and

 WHEREAS, the New Holder has acquired Registrable Securities directly or indirectly from a Holder; and 

WHEREAS, the Company and the Holders have required in the Agreement that all persons desiring registration rights pursuant to the Agreement
must enter into an Addendum Agreement binding the New Holder to the Agreement to the same extent as if it were an original party thereto; 

NOW, THEREFORE, in consideration of the mutual promises of the parties, the New Holder acknowledges that it has received and read the
Agreement and that the New Holder shall be bound by, and shall have the benefit of, all of the terms and conditions set out in the Agreement to the same extent as if it were an original party to the Agreement (or as otherwise provided therein) and
shall be deemed to be a Holder thereunder. 
  

	
	 New Holder

  
  

	
	 Address:

	  

	  

	  

 Agreed to on behalf of Clarios International Inc. pursuant to Section 13(c) of the
Agreement. 
  

			
	 CLARIOS INTERNATIONAL
INC.

 
			
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT B 

COUNTERPART TO REGISTRATION RIGHTS AGREEMENT 

The undersigned hereby absolutely, unconditionally and irrevocably agrees as an Additional Company Party (as defined in the Registration
Rights Agreement, dated [•], 2021 by and between Clarios International Inc., a Delaware corporation, and [●], a [Delaware limited partnership]) to be bound by the terms and provisions of such Registration Rights Agreement. 

IN WITNESS WHEREOF, the undersigned has executed this counterpart as of [●], 20 . 

 

			
	 [ADDITIONAL COMPANY PARTY]

		
	 By:
	 	  

		 	 Name:

		 	 Title:EX-10.2

 Exhibit 10.2 

FORM OF 
 TAX
RECEIVABLE AGREEMENT 
 between 

CLARIOS INTERNATIONAL, INC. 

AND 
 THE
PERSONS NAMED HEREIN 
 Dated as of [●], 2021 

[●] 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.1
	 	Definitions	  	 	1	 
		
	 ARTICLE II DETERMINATION OF REALIZED TAX BENEFIT
	  	 	13	 
	 Section 2.1
	 	Basis Schedule	  	 	13	 
	 Section 2.2
	 	Tax Benefit Schedule	  	 	13	 
	 Section 2.3
	 	Procedures, Amendments	  	 	14	 
		
	 ARTICLE III TAX BENEFIT PAYMENTS
	  	 	15	 
	 Section 3.1
	 	Payments	  	 	15	 
	 Section 3.2
	 	No Duplicative Payments	  	 	16	 
	 Section 3.3
	 	Partial Payment	  	 	16	 
		
	 ARTICLE IV TERMINATION
	  	 	16	 
	 Section 4.1
	 	Termination, Breach of Agreement	  	 	16	 
	 Section 4.2
	 	Early Termination Schedule	  	 	18	 
	 Section 4.3
	 	Payment upon Early Termination	  	 	19	 
		
	 ARTICLE V LATE PAYMENTS, ETC.
	  	 	20	 
	 Section 5.1
	 	Late Payments by the Corporation	  	 	20	 
	 Section 5.2
	 	Subordination	  	 	20	 
	 Section 5.3
	 	Compliance with Indebtedness	  	 	20	 
		
	 ARTICLE VI TAX MATTERS
	  	 	21	 
	 Section 6.1
	 	Corporation Tax Matters	  	 	21	 
		
	 ARTICLE VII MISCELLANEOUS
	  	 	22	 
	 Section 7.1
	 	Notices	  	 	22	 
	 Section 7.2
	 	Counterparts	  	 	22	 
	 Section 7.3
	 	Entire Agreement; Third Party Beneficiaries	  	 	23	 
	 Section 7.4
	 	Governing Law	  	 	23	 
	 Section 7.5
	 	Severability	  	 	23	 
	 Section 7.6
	 	Successors; Assignment; Amendments; Waivers	  	 	23	 
	 Section 7.7
	 	Resolution of Disputes	  	 	24	 
	 Section 7.8
	 	Reconciliation	  	 	25	 
	 Section 7.9
	 	Withholding	  	 	26	 
	 Section 7.10
	 	Affiliated Corporations; Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets	  	 	26	 
	 Section 7.11
	 	Confidentiality	  	 	27	 
	 Section 7.12
	 	Headings	  	 	27	 
	 Section 7.13
	 	Appointment of TRA Representative	  	 	28	 

  

  
 i 

 This TAX RECEIVABLE AGREEMENT (as amended from time to time, this
“Agreement”), dated as of [•], 2021, is hereby entered into by and among Clarios International, Inc., a Delaware corporation (including any successor corporation, the “Corporation”), each of the
undersigned parties, and each of the other Persons from time to time that become a party hereto (each, excluding the Corporation, a “TRA Party” and together the “TRA Parties”). 

RECITALS 
 WHEREAS,
as of the date hereof, the Corporate Taxpayer has the Covered Tax Attributes (as defined below); 
 WHEREAS, the liability for Taxes (as
defined below) of the Corporate Taxpayer may be impacted by the Covered Tax Attributes and the Imputed Interest (as defined below), if any; 

WHEREAS, the parties to this Agreement desire to make certain arrangements related to the Covered Tax Attributes and Imputed Interest; 

NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally
bound hereby, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, the terms set forth in this Article I shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined). 
 “Additional Interest
Amount” is defined in Section 3.1(d) of this Agreement. 
 “Affiliate” means, with respect to
any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 

Agreed Principles: For each Taxable Year: (i) Section 250 of the Code does not apply to the Corporate Taxpayer,
(ii) the Corporate Taxpayer is subject to U.S. state and local taxes at a rate equal to the Assumed State Tax Rate, (iii) there does not occur an “ownership change” within the meaning of Section 382 of the Code with respect
to any Corporate Taxpayer after the IPO Date, (iv) the “section 382 limitation” with respect to any ownership change arising as a result of the Restructuring Transactions is increased for any taxable year (and not solely the
recognition period) by the recognized built-in gains for such taxable year (all within the meaning of Section 382(h) of the Code), (v) each Corporate Taxpayer will be assumed to utilize the “338
approach” set forth in IRS Notice 2003-65, 2003-2 C.B. 747 (in connection with any “ownership change”), (vi) there are no Disregarded Tax Attributes,
(vii) the Corporate Taxpayer does not recognize any gains or losses arising from the sale or exchange of non-amortizable and non-depreciable capital assets for U.S. federal income tax

 
purposes (other than assets that have Covered Tax Basis), (viii) the Corporate Taxpayer does not have any Code Section 163(j) interest expense carryforwards as of the close of the IPO Date
(other than, for the avoidance of doubt, the Covered Tax Basis in a Reference Asset attributable to any basis adjustment to such asset resulting from the application of Section 732 of the Code that (A) is attributable to excess business
interest expense described in Section 163(j)(4)(B) of the Code and (B) arises as a result of the Restructuring Transactions) and (ix) no income or gain was recognized by the Corporate Taxpayer in the Restructuring Transactions or in
any assets transferred to the Corporate Taxpayer in the Restructuring Transactions. 
 “Agreed Rate” means LIBOR
plus 100 basis points. 
 “Agreement” is defined in the preamble of this Agreement. 

“Alternative Basis” means, with respect to any Reference Asset, zero. 

“Amended Schedule” is defined in Section 2.3(b) of this Agreement. 

“Applicable Date” means the date of the Restructuring Transactions. 

“Assumed Actual Tax Liability” means, with respect to any Taxable Year, the sum of (i) the liability for U.S.
federal income taxes of the Corporate Taxpayer (determined in accordance with the Agreed Principles) and (ii) the product of the amount of the U.S. federal taxable income of the Corporate Taxpayer for such Taxable Year (determined in accordance
with the Agreed Principles (but calculated assuming that state and local income and franchise Taxes are not deductible)) and the Assumed State Tax Rate. 

“Assumed State Tax Rate” means 4.32% (prior to taking any federal benefit). 

“Basis Schedule” is defined in Section 2.1 of this Agreement. 

“Board” means the board of directors of the Corporation. 

“Brookfield” means Brookfield Business Partners, L.P and its affiliates (including the funds, partnerships or other
co-investment vehicles managed, advised or controlled by Brookfield Business Partners, L.P. or its affiliates). 
 “Business
Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of the United States of America or the State of New York shall not be regarded as a Business Day. 

“CDPQ” means Caisse de dépôt et placement du Québec and its affiliates (including the funds,
partnerships or other co-investment vehicles managed, advised or controlled by Caisse de dépôt et placement du Québec or its affiliates). 

“Change of Control” means: 

(i) a merger, reorganization, consolidation or similar form of business transaction directly involving the Corporation or indirectly involving
the Corporation through one or more intermediaries unless, immediately following such transaction, more than 50% of the voting power of the then outstanding voting stock or other equity interests of the Corporation resulting from consummation of
such transaction (including, any parent or ultimate parent corporation of such Person that as a result of such transaction owns directly or indirectly the Corporation and all or 

  
 2 

 
substantially all of the Corporation’s assets) is held by Brookfield, CDPQ, or their Affiliates; or 

(ii) a transaction in which the Corporation, directly or indirectly, sells, assigns, conveys, transfers, leases or otherwise disposes of all or
substantially all of its assets to another Person other than an Affiliate; or 
 (iii) a transaction in which there is an acquisition of
control of the Corporation by a Person or group of Persons acting in concert (other than entities controlled by Brookfield, CDPQ, or their Affiliates). For purposes of this definition, the term “control” shall mean the possession, directly
or indirectly, of the power to either (i) vote more than 50% of the securities having ordinary voting power for the election of directors (or comparable positions in the case of partnerships and limited liability companies), or (ii) direct
or cause the direction of the management and policies of such Corporation whether by contract or otherwise (for the avoidance of doubt, consent rights do not constitute control for the purpose of this definition); 

(iv) the liquidation or dissolution of the Corporation; 

(v) a “change of control” or similar defined term in the Term Loan Credit Agreement; or 

(vi) the sale or other disposition, directly or indirectly, by the Corporation of all or substantially all of the U.S.-based assets of the
Corporation and its Subsidiaries to another Person other than an Affiliate. 
 For the avoidance of doubt, sales, transfers or other
dispositions of shares by the Corporation’s stockholders (a) which are not related to a merger, reorganization, consolidation or similar form of business transaction to which the Corporation is a party and (b) not resulting in the effects
described in clause (i) of this definition, shall not be deemed to be a Change of Control under this Agreement. 

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

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Corporate
Taxpayer” means the Corporation and any domestic corporation (as defined for U.S. federal income tax purposes) that is a member of any group filing a federal consolidated tax return of which the Corporation is a member. 

“Corporation” is defined in the preamble of this Agreement, along with any other domestic corporation that acquires
the assets of the Corporation pursuant to an acquisition described in Section 381(a) of the Code. 

  
 3 

 “Covered Tax Attributes” means the Covered NOLs and the Covered Tax
Basis. 
 “Covered NOLs” means collectively and without duplication (i) the net operating loss carryovers for
U.S. federal income tax purposes to which the Corporation succeeds under Section 381 of the Code as a result of the Restructuring Transactions, and (ii) the net operating loss carryovers for U.S. federal income tax purposes of any
Corporate Taxpayer (other than the Corporation) that the Corporation directly or indirectly acquires as a result of the Restructuring Transactions. Schedule [•] sets forth the balance of the amounts described in clauses (i) and (ii) hereof
both as of January 1, 2021 and an estimate of the balance of such amounts as of the Applicable Date. 
 “Covered Tax
Basis” means the tax basis for U.S. federal income tax purposes of any Corporate Taxpayer in a Reference Asset at the time such Reference Asset is directly or indirectly acquired by the Corporation in the Restructuring Transactions as
reflected on the Basis Schedule. For the avoidance of doubt, the Covered Tax Basis in a Reference Asset shall include any basis adjustment to such asset resulting from the application of Section 732 of the Code that (i) is attributable to
excess business interest expense described in Section 163(j)(4)(B) of the Code and (ii) arises as a result of the Restructuring Transactions. Schedule [•] sets forth the estimated balance of the amounts described in this definition as
of the Applicable Date. For the purposes of this Agreement (and without duplication), a Corporate Taxpayer shall be deemed to own its proportionate share of any assets owned by any entity classified as a partnership for U.S. federal income tax
purposes the equity of which such Corporate Taxpayer owns directly or indirectly through any pass-through entity (and, for the avoidance of doubt, the calculations in this Agreement will take into account the Corporate Taxpayer’s allocable
share of all Tax items of any such entity treated as a partnership for U.S. federal income tax purposes). 
 “Credit
Event” means the occurrence of any of the following events: 
 (a) an involuntary proceeding shall be commenced or an
involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Corporation or any of its Significant Subsidiaries or its debts, or of a substantial part of its assets, under any federal, state or non-U.S. bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the
Corporation or any of its Significant Subsidiaries or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed or unstayed for 60 days or an order or decree approving or ordering any of the
foregoing shall be entered, which order or decree has not been dismissed or stayed; 
 (b) the Corporation or any of its Significant
Subsidiaries shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any federal, state or non-U.S. bankruptcy, insolvency,
receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (a) above,

  
 4 

 
(iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Corporation or any Significant Subsidiary of the Corporation
or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action
for the purpose of effecting any of the foregoing; or 
 (c) the Corporation or any of its Significant Subsidiaries engages in any other
action or fails to take any action that constitutes an ‘event of default’ (after the expiration of all grace periods and cure rights) under any indebtedness for borrowed money having an aggregate principal amount (including undrawn
committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the greater of $350 million and 22% of Consolidated EBITDA (determined in accordance with the Term
Loan Credit Agreement most recently in effect) if such event of default (i) entitles the relevant creditors to immediately accelerate such indebtedness and (ii) is not waived by the applicable creditors or cured by the Corporation within
30 days of an officer of the Corporation obtaining actual knowledge thereof. 
 “Credit Event Notice” is defined in
Section 4.1(c) of this Agreement. 
 “Cumulative Net Realized Tax Benefit” for a Taxable Year means the
cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriment for the same period (excluding, for the avoidance of doubt, the
Taxable Years of any corporation for U.S. federal income tax purposes that ends on or before the date such corporation becomes a Corporate Taxpayer as a result of the Restructuring Transactions). The Realized Tax Benefit and Realized Tax Detriment
for each Taxable Year shall be determined based on the most recent Tax Benefit Schedules or Amended Schedules, if any, in existence at the time of such calculation; provided, that, for the avoidance of doubt, the computation of the Cumulative Net
Realized Tax Benefit shall be adjusted to reflect any applicable Determination with respect to any Realized Tax Benefits and/or Realized Tax Detriments. 

“Default Rate” means LIBOR plus 700 basis points. 

“Determination” shall have the meaning ascribed to such term in Section 1313(a) of the Code, or any other event
(including the execution of a Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax. 

“Disregarded Tax Attributes” means (i) any net operating losses or other tax attributes to which any Corporate
Taxpayer or any entity in which it holds a direct or indirect equity interest become entitled as a result of a transaction after the IPO Date to the extent such net operating losses and other tax attributes are subject to a tax receivable agreement
(or comparable agreement) entered into by a Corporate Taxpayer or any of its Affiliates pursuant to which any Corporate Taxpayer is obligated to pay over amounts 

  
 5 

 
with respect to tax benefits resulting from such net operating losses or other tax attributes; (ii) any net operating losses (including carryovers and carrybacks), capital losses, charitable
deductions, alternative minimum tax credit carryforwards, Section 163(j) interest expense carryforwards, federal and state tax credits, and any other attributes (including any tax basis and amortization or depreciation deductions arising
therefrom) attributable to acquisitions (and the associated operations of such acquired assets and businesses) by a Corporate Taxpayer or any of its Affiliates following the IPO Date (other than transactions described in clause (iii) below);
provided (X) that the Corporate Taxpayer may acquire up to $50,000,000 of such attributes on an annual basis without such attributes constituting Disregarded Tax Attributes (and for purposes of the calculation of the threshold amounts the
acquisition of an amount of tax credits will equal the acquisition of an amount of tax attributes equal to the quotient obtained by dividing the amount of the tax credit by the maximum U.S. federal corporate income tax rate in effect for the
applicable Taxable Year), (Y) the amount included in any given year in the calculation of Disregarded Tax Attributes pursuant to this clause (ii) will be reduced (not below zero) by the amount of additional U.S. taxable income that the
Corporate Taxpayer demonstrates that it recognizes in such year as a direct result of such associated acquisition, and (Z) an attribute that is a Disregarded Tax Attribute as a result of the application of this clause (ii) will cease to be
a Disregarded Tax Attribute in a subsequent Taxable Year to the extent the amount of attributes acquired by the Corporate Taxpayer as a result of acquisitions in such subsequent Taxable Year is less than $50,000,000 (e.g., if Corporate Taxpayer
acquires 100% of the equity of a domestic corporation with $75,000,000 of net operating losses in Year 1 and 100% of the equity of a separate domestic corporation with $45,000,000 of net operating losses in Year 2, none of such losses in either year
is described in clause (i) of this definition, Corporate Taxpayer engages in no other transactions for each such year and Corporate Taxpayer has no additional U.S. taxable income described in clause (ii)(Y) of this definition, only $25,000,000
of such net operating losses in Year 1 will be included in the calculation of Disregarded Tax Attributes, and, at the end of Year 2, the aggregate amount of Disregarded Tax Attributes is reduced to $20,000,000); and (iii), without
duplication of amounts described in clause (ii), amortization and depreciation deductions attributable to capex or real estate expenditures after the date hereof (that are not attributable to Covered Tax Attributes or the acquisitions of a type
described in clause (ii) herein) in excess of $150,000,000 in each Taxable Year. 
 “Divestiture” means
(a) the sale or transfer of the equity interests of any Corporate Taxpayer with Covered Tax Attributes and (b) the transfer in a non-recognition transaction for U.S. federal income tax purposes by
any Person the income of which is, in whole or in part, included in the income of any Corporate Taxpayer of one or more assets (other than equity interests of any Corporate Taxpayer) with Covered Tax Basis to any Person that is not a Corporate
Taxpayer, in each case, other than any such sale or transfer that is, or is part of, a Change of Control. 
 “Divestiture
Acceleration Payment” is defined in Section 4.3(b) of this Agreement. 
 “Early Complete
Termination” is defined in Section 4.1(d) of this Agreement. 

  
 6 

 “Early Termination Date” means (i) in the event of a breach of
this Agreement to which Section 4.1(a) applies, the date of such breach, (ii) in the event of a Divestiture, the effective date of such Divestiture, (iii) in the event of an Early Complete Termination, the date of the Early
Termination Notice, (iv) in the event of a Credit Event Acceleration pursuant to Section 4.1(b), the date of the applicable Credit Event that resulted in the Credit Event Acceleration, (v) in the event of a Change of Control pursuant
to which the Corporation makes an election under Section 4.1(d)(1), the date of the applicable Early Termination Option Notice, (vi) in the event of the TRA Representative exercising its Early Payment Right pursuant to Section 4.1(f),
the date of the applicable Early Payment Right Notice or (vii) such other date as may be agreed to by the TRA Representative and the Corporation. 

“Early Termination Event” means (i) a breach of this Agreement to which Section 4.1(a) applies, (ii) an
Early Complete Termination, or (iii) the TRA Representative Early Termination. 
 “Early Termination Option
Notice” is defined in Section 4.1(d) of this Agreement. 
 “Early Termination Notice” is defined
in Section 4.1(e) of this Agreement. 
 “Early Termination Payment” is defined in Section 4.3(b) of this
Agreement. 
 “Early Termination Rate” means the lesser of 6.5% per annum, compounded annually, or LIBOR plus 100
basis points. 
 “Early Termination Schedule” is defined in Section 4.2 of this Agreement. 

“Estimated Tax Benefit Payment” is defined in Section 3.1(a) of this Agreement. 

“Estimated Tax Benefit Schedule” is defined in Section 2.2(a) of this Agreement. 

“Expert” is defined in Section 7.8 of this Agreement. 

“Final Tax Benefit Schedule” is defined in Section 2.2(b) of this Agreement. 

“Final Tax Benefit Payment” is defined in Section 3.1(b) of this Agreement. 

“Hypothetical Tax Liability” means, with respect to any Taxable Year, the sum of (i) the liability for U.S.
federal income taxes of the Corporate Taxpayer (determined in accordance with the Agreed Principles) and (ii) the product of the amount of the U.S. federal taxable income of the Corporate Taxpayer for such Taxable Year (determined in accordance
with the Agreed Principles but calculated assuming that state and local income and franchise Taxes are not deductible) and the Assumed State Tax Rate, except that, in determining the amount in clause (i) or (ii), above, (a) Covered NOLs
shall not be taken into account, (b) the Alternative Basis shall be used and (c) any deduction attributable to Imputed Interest shall be excluded. For the avoidance of doubt: Hypothetical Tax Liability shall be determined without taking
into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to a Covered Tax Attribute as applicable. For the avoidance of doubt, the basis of the Reference Assets in the aggregate for purposes of determining
the Hypothetical Tax Liability can never be less than zero. 

  
 7 

 “Imputed Interest” shall mean any interest imputed, using the
applicable federal rate, under Section 1272, 1274 or 483 of the Code with respect to the Corporation’s payment obligations under this Agreement. 

“Interest Amount” is defined in Section 3.1(d) of this Agreement. 

“IPO Date” means the date of the initial public offering of common stock of the Corporation on Form S-1 (File No. 333–[•]) of the Corporation. 
 “LIBOR” means for
each month (or portion thereof) during any period, an interest rate per annum equal to the rate per annum reported, on the date two days prior to the first day of such month, on the Reuters Screen which displays the London interbank offered rate
administered by the ICE Benchmark Administration Limited (such page currently being the LIBOR01 page) or by any other publicly available source of such market rate) for London interbank offered rates for U.S. dollar deposits for such month (or
portion thereof); provided that the Corporation shall make in good faith a determination (such determination to be conclusive absent manifest error) when (i) LIBOR is no longer a widely recognized benchmark rate for newly originated
syndicated loans in U.S. dollars in the U.S. syndicated loan market or (ii) adequate and reasonable means do not exist for ascertaining LIBOR, in which case LIBOR shall be replaced for all purposes under this Agreement by the rate that replaces
the LIBOR with respect to U.S. dollar borrowings under one of the Corporation and its Subsidiaries’ principal third party credit agreements as in effect as of the date of such determination as the Corporation may elect, as it may be amended
from time to time; provided, further, that if no such replacement has been agreed or determined for purposes of such credit agreement, the Corporation and the TRA Representative shall, within one month of any such determination by the
Corporation, mutually agree, acting in good faith, on a replacement interest rate (any replacement rate pursuant to this definition, the “Replacement Rate”), in which case, the Replacement Rate shall replace LIBOR for all
purposes under this Agreement; provided, further, that in either case, the Corporation and the TRA Representation may effect conforming changes to this Agreement to the extent reasonably necessary to implement any such Replacement
Rate. If the Corporation and the TRA Representative are unable to mutually agree on the Replacement Rate in the circumstances contemplated by this definition, the Corporation and the TRA Representative shall employ the reconciliation procedures
described in Section 7.8 of this Agreement. 
 “Material Objection Notice” has the meaning set forth in
Section 4.2. 
 “Net Tax Benefit” has the meaning set forth in Section 3.1(b). 

“Objection Notice” has the meaning set forth in Section 2.3(a). 

“Ownership Percentage” means, in the case of any TRA Party, the percentage adjacent to the name of such TRA Party on
schedule [X], provided that (for 

  
 8 

 
the avoidance of doubt) the aggregate Ownership Percentages for all of the TRA Parties shall not exceed 100%. 

“Payment Date” means any date on which a payment is required to be made pursuant to this Agreement. 

“Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate,
trust, business association, organization, governmental entity or other entity. 
 “Realized Tax Benefit” means, for
a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Assumed Actual Tax Liability. If all or a portion of the Assumed Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any
Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination. 

“Realized Tax Detriment” means, for a Taxable Year, the excess, if any, of the Assumed Actual Tax Liability over the
Hypothetical Tax Liability. If all or a portion of the Assumed Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax
Detriment unless and until there has been a Determination. 
 “Reconciliation Dispute” has the meaning set forth in
Section 7.8 of this Agreement. 
 “Reconciliation Procedures” shall mean those procedures set forth in
Section 7.9(a) of this Agreement. 
 “Reference Asset” means an asset (x) that (A) is amortizable under
Section 197 of the Code or (B) is depreciable real property and (y) acquired directly by the Corporation in the Restructuring Transactions or indirectly through the acquisition of a Corporate Taxpayer in the Restructuring Transactions
(including by way of the Corporation acquiring, directly or indirectly, the equity interests of any entity that is a partnership for U.S. federal income tax purposes and any applicable asset of any such entity that a Corporate Taxpayer is treated as
receiving for U.S. federal income tax purposes in connection with a liquidation (for U.S. federal income tax purposes) of such entity). For the avoidance of doubt, Covered Tax Basis does not include any tax basis in an asset held by a foreign
corporation the stock of which is acquired by the Corporation in the Restructuring Transactions. A Reference Asset also includes any asset that is “substituted basis property” under Section 7701(a)(42) of the Code with respect to a
Reference Asset. 
 “Restructuring Transactions” means the transactions set forth on Schedule
[    ], including the transactions pursuant to which the Corporation acquired one or more domestic corporations for U.S. federal income tax purposes owning 100% of the equity interests in Clarios International LP and issued this
Agreement. 

  
 9 

 “Schedule” means any Tax Benefit Schedule and any Early Termination
Schedule. 
 “Significant Subsidiary” has the meaning assigned to such term in the Term Loan Credit Agreement (or
any equivalent provision of any refinancing, replacement or substitution thereof). 
 “Subject Taxable Year” means,
with respect to any Estimated Tax Benefit Schedule or Final Tax Benefit Schedule, the federal Taxable Year ending on December 31 of the year preceding the Schedule Delivery Date, together with the state or foreign Taxable Years ending in the
same calendar year as such federal Taxable Year. 
 “Subsidiaries” means, with respect to any Person, as of any date
of determination, any other Person as to which such Person, owns, directly or indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar interest
of such Person. 
 “Tax Benefit Payment” is defined in Section 3.1(b) of this Agreement. 

“Tax Benefit Schedule” means the Estimated Tax Benefit Schedule or Final Tax Benefit Schedule, as applicable. 

“Tax Return” means any return, declaration, report or similar statement filed or required to be filed with respect to
Taxes (including any attached schedules), including, without limitation, any information return, claim for refund, amended return and declaration of estimated Tax. 

“Taxable Year” means a taxable year as defined in Section 441(b) of the Code (and, therefore, for the avoidance
of doubt, may include a period of less than 12 months for which a Tax Return is made) ending on or after the date of the Restructuring Transactions; provided that each applicable Taxable Year of each Corporate Taxpayer will be deemed to end on
December 31 unless (a) the Corporation notifies the TRA Representative that a Corporate Taxpayer intends to elect to change its taxable year (as defined in Section 441(b) of the Code) and (b) the TRA Representative and the
Corporation agree to amend this Agreement as necessary to reflect such change in taxable year in a manner that does not materially delay any Tax Benefit Payment otherwise payable pursuant to this Agreement. 

“Taxes” means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges measured with
respect to net income, gross receipts or profits and any interest related to such Tax. 
 “Taxing Authority” shall
mean any domestic, foreign, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority
exercising tax regulatory authority. 

  
 10 

 “Term Loan Credit Agreement” shall mean (i) that certain First
Lien Credit Agreement, dated as of April 30, 2019, among Clarios International LP, a limited partnership organized under the laws of the Province of Ontario, Clarios US Finance Company, Inc., a corporation organized under the laws of the State
of Delaware, the other Loan Parties party thereto, the Lenders and Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, and any amendment thereof or (ii) any other substitute or replacement first
lien credit agreement whereby the Company or any of its Subsidiaries borrows additional funds after the IPO Date (any such first lien credit agreement, along with the first lien credit agreement described in clause (i) hereof, a
“First Lien Credit Agreement”); provided that if, following the IPO Date, the Company and its Subsidiaries cease to be subject to any First Lien Credit Agreement, then references herein to the Term Loan Credit Agreement will
be deemed to refer to the last First Lien Credit Agreement then in effect prior to the Company and its Subsidiaries ceasing to have any First Lien Credit Agreement. 

“TRA Model” means that certain excel spreadsheet that is on file with the Corporation and the TRA Representative, and
which the Corporation and the TRA Representative reasonably agree in writing is the TRA Model. 
 “TRA Party” has
the meaning set forth in the recitals. 
 “TRA Payment” means any Tax Benefit Payment, Early Termination Payment, or
Divestiture Acceleration Payment required to be made by the Corporation to the TRA Parties under this Agreement. 
 “TRA
Representative” means, initially, [•], and thereafter such other party designated by the TRA Parties; provided, however, that the TRA Parties may not designate any party listed on Schedule [ ] as the TRA Representative without the
prior written consent of the Corporation. 
 “Transferred Tax Attributes” means, in the event of a Divestiture, the
Covered Tax Attributes described in clause (a) of the definition of Divestiture or the Covered Tax Basis described in clause (b) thereof, in each case to the extent such Covered Tax Attributes or Covered Tax Basis, as the case may be, do
not remain under applicable Tax law with the Corporate Taxpayer (other than a Corporate Taxpayer that is sold in such Divestiture). 

“Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to
time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 

  
 11 

 “Valuation Assumptions” shall mean, as of an Early Termination Date,
the assumptions that (i) the Corporate Taxpayer will have taxable income sufficient to fully utilize (a) the deductions arising from the Covered Tax Attributes during each Taxable Year ending on or after such Early Termination Date in
which such deductions would become available and (b) any loss carryovers that are Covered Tax Attributes available as of such Early Termination Date, (ii) the utilization of the Covered Tax Attributes and Imputed Interest for each Taxable
Year ending on or after such Early Termination Date will be determined based on the Tax laws in effect on the Early Termination Date, (iii) the federal income tax rates that will be in effect for each such Taxable Year will be those specified
for each such Taxable Year by the Code in effect on the Early Termination Date, and the Assumed State Tax Rate will be applied (or, with respect to any Taxable Year for which such federal income tax rates are not specified by the Code as in effect
on the Early Termination Date, such federal income tax rates that are in effect on the Early Termination Date), (iv) any payment obligations pursuant to this Agreement will be satisfied on May
15th of the year following applicable Taxable Year and (vi) the Agreed Principles apply. For the avoidance of doubt, in the event of a Change of Control or Divestiture, such assumptions shall
not take into account any changes in the relevant Corporate Taxpayers’ standalone tax position that might result from the transaction giving rise to the Change of Control or Divestiture. 

Section 1.2. Terms Generally. In this Agreement, unless otherwise specified or where the context otherwise requires: 

(a) the headings of particular provisions of this Agreement are inserted for convenience only and will not be construed as a part of this
Agreement or serve as a limitation or expansion on the scope of any term or provision of this Agreement; 
 (b) words importing any gender
shall include other genders; 
 (c) words importing the singular only shall include the plural and vice versa; 

(d) the words “include,” “includes” or “including” shall be deemed to be followed by the words “without
limitation”; 
 (e) the words “hereof,” “herein” and “herewith” and words of similar import shall, unless
otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement; 
 (f) references
to “Articles,” “Exhibits,” “Sections” or “Schedules” shall be to Articles, Exhibits, Sections or Schedules of or to this Agreement; 

(g) references to any Person include the successors and permitted assigns of such Person; 

(h) references to any agreement, contract or schedule, unless otherwise stated, are to such agreement, contract or schedule as amended,
modified or supplemented from time to time in accordance with the terms hereof and thereof; 
 (i) references to any law (including the Code
and the Treasury Regulations) shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law; 

(j) for purposes of calculating any payments due hereunder (including with respect to the Additional Interest Amount), compounding will be done
on an annual basis; and 

  
 12 

 (k) the parties hereto have participated collectively in the negotiation and drafting of
this Agreement; accordingly, in the event an ambiguity or question of intent or interpretation arises, it is the intention of the parties that this Agreement shall be construed as if drafted collectively by the parties hereto, and that no
presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provisions of this Agreement. 

ARTICLE II 

DETERMINATION OF REALIZED TAX BENEFIT 

Section 2.1 Basis Schedule. Within one hundred twenty (120) calendar days after the filing of the U.S. federal income tax
return of the Corporate Taxpayer for any federal Taxable Year (or, if later, the due date for such tax return determined after taking into account all available extensions), the Corporation shall provide to the TRA Representative a schedule (the
“Basis Schedule”) that shows, in reasonable detail with respect to each Reference Asset as of the last day of such Taxable Year, (i) the Covered Tax Basis of such Reference Asset and (ii) the period (or periods) over which
such Reference Asset is amortizable and/or depreciable. In addition, the Corporate Taxpayer shall provide a good faith estimate of the Basis Schedule along with any Estimated Tax Benefit Schedule provided pursuant to Section 2.2(a). 

Section 2.2 Tax Benefit Schedule. 

(a) With respect to each Subject Taxable Year, the Corporation shall, on or before April 14 following the end of the Subject Taxable Year
(the “Schedule Delivery Date”), provide to the TRA Representative a schedule showing in reasonable detail, the Corporation’s good faith estimate of (i) the calculation of the Realized Tax Benefit (or the Realized Tax
Detriment) for the Subject Taxable Year, (ii) the calculation of any payment to be made to the TRA Parties pursuant to Article III with respect to the Subject Taxable Year, and (iii) for the Taxable Year including the Applicable Date, a
statement of the initial Covered Tax Attributes, and for each Taxable Year thereafter, a statement of the remaining Covered Tax Attributes as updated to the extent necessary to reflect utilization, depreciation and amortization, and any other events
subsequent to the Applicable Date that would impact the Covered Tax Attributes (collectively an “Estimated Tax Benefit Schedule”). Concurrently the Corporation shall also deliver to the TRA Representative all supporting
information (including work papers) reasonably necessary to support the calculation of such payment. 
 (b) Within one hundred twenty
(120) calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for any Subject Taxable Year, the Corporation shall provide to the TRA Representative an updated Tax Benefit Schedule containing the
information described in Section 2.2(a) (the “Final Tax Benefit Schedule”) along with all supporting information (including workpapers) reasonably necessary to support the calculation of any payment to be made to the TRA
Parties with respect to the Subject Taxable Year. 

  
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 (c) Each of the Estimated Tax Benefit Schedule and Final Tax Benefit Schedule will become
final as provided in Section 2.3(a) and may be amended as provided in Section 2.3(b) (subject to the procedures set forth in Section 2.3(a)). 

(d) Subject to Article IV and the assumptions prescribed herein for making such calculation, the Realized Tax Benefit (or the Realized Tax
Detriment) for each Taxable Year is intended to measure the decrease (or increase) in the liability for Taxes of the Corporation for such Taxable Year attributable to the Covered Tax Attributes, determined using a “with and without”
methodology and the Agreed Principles. Carryovers or carrybacks of any Tax item attributable to any of the Covered Tax Attributes shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions
of U.S. state and local income and franchise Tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any Tax item includes a portion that is attributable
to any Covered Tax Attribute and another portion that is not, such portions shall be considered to be used in accordance with the “with and without” methodology. The parties also acknowledge and agree that this Agreement shall be
interpreted and applied in a manner consistent with the TRA Model. 
 Section 2.3 Procedures, Amendments. 

(a) Procedure. Whenever the Corporation delivers to the TRA Representative an applicable Schedule under this Agreement, including any
Amended Schedule delivered pursuant to Section 2.3(b), and including any Early Termination Schedule or amended Early Termination Schedule, the Corporation shall also (x) deliver to the TRA Representative schedules and work papers providing
reasonable detail regarding the preparation of the Schedule related to such Schedule (the cost and expense of which shall be paid by the Corporation) and (y) allow the TRA Representative reasonable access at no cost to the representatives at
the Corporation in connection with a review of such Schedule. The applicable Schedule shall become final and binding on all parties unless the TRA Representative, within twenty-eight (28) calendar days after receiving any Schedule or amendment
thereto, provides the Corporation with notice of a material objection to such Schedule (“Objection Notice”) made in good faith. If the parties, for any reason, are unable to successfully resolve the issues raised in any
notice within thirty calendar days of receipt by the Corporation of such notice, the Corporation and the TRA Representative shall employ the reconciliation procedures described in Section 7.8 of this Agreement (the “Reconciliation
Procedures”). 
 (b) Amended Schedule. The applicable Schedule for any Taxable Year shall, except as otherwise approved
by the TRA Representative, be amended from time to time by the Corporation (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified as a result of the receipt of additional
factual information relating to a Taxable Year after the date the Schedule was provided to the TRA Representative, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, or (iv) to reflect a material
change (relative to the amounts in the original Schedule) in the Realized Tax Benefit for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, in each case with 

  
 14 

 
respect to any Corporate Taxpayer (such amended Schedule, an “Amended Schedule”); provided, however, that such a change under clause (i) attributable to
an audit of a Tax Return by an applicable Taxing Authority shall not be taken into account on an Amended Schedule unless and until there has been a Determination with respect to such change. The Corporation shall provide any Amended Schedule to the
TRA Representative within thirty calendar days of the occurrence of an event referred to in clauses (i) through (iv) of the preceding sentence, and any such Amended Schedule shall be subject to the approval procedures described in
Section 2.3(a). 
 ARTICLE III 

TAX BENEFIT PAYMENTS 

Section 3.1 Payments. 

(a) Estimated Tax Benefit Payment. Within three (3) calendar days after an Estimated Tax Benefit Schedule delivered to the TRA
Representative becomes final in accordance with Section 2.3(a) and 7.8, if applicable, the Corporation shall pay to each TRA Party for such Taxable Year its good faith estimate of the Tax Benefit Payment, as set forth on the applicable
Estimated Tax Benefit Schedule with respect to the applicable Taxable Year (the “Estimated Tax Benefit Payment”) in respect of each TRA Party determined pursuant to Section 3.1(b) in accordance with each relevant TRA
Party’s Ownership Percentage. Each such Estimated Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by such TRA Party to the Corporation or as otherwise agreed by the
Corporation and such TRA Party. The parties acknowledge and agree that, if no Objection Notice is delivered with respect to the relevant Estimated Tax Benefit Schedule, the Corporation shall pay the Estimated Tax Benefit Payment on May 15 of
the calendar year following the Subject Taxable Year (or, if May 15 is not a business day, the following business day). 
 (b)
Final Tax Benefit Payment. Within three (3) calendar days after a Final Tax Benefit Schedule for any Subject Tax Year delivered to the TRA Representative becomes final in accordance with Section 2.3(a) and 7.8, if applicable,
the Corporation shall pay to each TRA Party the amount, if any, by which the Tax Benefit Payment as reflected on the Final Tax Benefit Schedule exceeds the Estimated Tax Benefit Payment with respect to such Subject Tax Year (the “Final Tax
Benefit Payment”). 
 (c) Carryforward of Tax Benefit Overpayments. The amount, if any, by which the Estimated Tax
Benefit Payment exceeds the Tax Benefit Payment as reflected on the Final Tax Benefit Schedule for any Subject Tax Year shall reduce the Estimated Tax Benefit Payment to be made by the Corporation in the following Subject Tax Year (and shall carry
forward to future Subject Tax Years until such excess amount has been reduced to zero). 
 (d) A “Tax Benefit Payment” in
respect of a TRA Party for a Taxable Year means an amount equal to the sum of (i) the product of the Net Tax Benefit for such Taxable Year and such TRA Party’s Ownership Percentage, (ii) the Interest Amount with

  
 15 

 
respect thereto and (iii) the Additional Interest Amount with respect thereto. Subject to Section 3.3, the “Net Tax Benefit” for a Taxable Year shall be an amount equal
to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year, over the total amount of payments previously made under the first sentence of Section 3.1(a) and Section 3.1(b) (excluding
payments attributable to any Additional Interest Amounts with respect to the calculation of the applicable Estimate Tax Benefit Payment); provided, for the avoidance of doubt, that no such recipient shall be required to return any portion of any
previously made Tax Benefit Payment. The “Interest Amount” shall equal the interest on the Net Tax Benefit, calculated at the Agreed Rate from the due date (without extensions) for filing IRS Form 1120 (or any successor form) of the
Corporation with respect to Taxes for such Taxable Year until the May 15th following the close of the applicable Taxable Year. The “Additional Interest Amount” shall equal the
interest on the sum of the Net Tax Benefit and the Interest Amount, calculated at a 10% rate, from May 15th following the close of the applicable Taxable Year through and including the date of
payment of the Final Tax Benefit Payment for the applicable Taxable Year. 
 Section 3.2 No Duplicative Payments. It is intended
that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement provide that 85% of the Cumulative Net Realized
Tax Benefit (in addition to the Interest Amounts) for all Subject Taxable Years be paid to the TRA Parties pursuant to this Agreement. The provisions of this Agreement shall be construed in the appropriate manner so that such intentions are
realized. 
 Section 3.3 Partial Payment. If for any reason the Corporation does not fully satisfy its payment obligations to
make all Tax Benefit Payments due under this Agreement in respect of a particular Taxable Year, then Tax Benefit Payments for such Taxable Year shall be made to all TRA Parties eligible to receive Tax Benefit Payments under this Agreement in such
Taxable Year in proportion to their Ownership Percentages. For the avoidance of doubt, the withholding of any amount pursuant to Section 7.9 shall not be considered a failure by the Corporation to fully satisfy its payment obligations. 

ARTICLE IV 
 TERMINATION

 Section 4.1 Termination, Breach of Agreement. 

(a) Acceleration Upon Breach of Agreement. In the event that the Corporation materially breaches any of its material obligations under
this Agreement, whether as a result of failure to make any payment when due (subject to the last sentence of this Section 4.1(a) and Section 5.3, failure to honor any other material obligation required hereunder or by operation of law as a
result of the rejection of this Agreement in 

  
 16 

 
a case commenced under the Bankruptcy Code or otherwise, then all obligations hereunder shall be accelerated and the Corporation shall pay to the TRA Parties (1) the Early Termination
Payment, (2) any Tax Benefit Payment agreed to by the Corporation and the TRA Parties as due and payable but unpaid as of the Early Termination Date and (ii) any Tax Benefit Payment due for the Taxable Year ending prior to, with or
including the date of a breach (except to the extent that such amount is included in the Early Termination Payment). Notwithstanding the foregoing, in the event that the Corporation breaches this Agreement, the TRA Parties shall be entitled to elect
to receive the amounts set forth in (1), (2) and (3) above or to seek specific performance of the terms hereof. In the event of a breach of a material obligation under this Agreement by the Corporation, the Early Termination Payment shall be
calculated utilizing the Valuation Assumptions. Subject to Section 5.3, the parties agree that the failure to make any payment due pursuant to this Agreement within three months of the date such payment is due shall be deemed to be a breach of
a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three months of
the date such payment is due. 
 (b) Acceleration Upon a Credit Event. In the event that either party becomes aware that the
circumstances described in clause (c) in the definition of Credit Event exist and are continuing, such party shall provide written notice to the other party (the “Credit Event Notice”). In the event that any such Credit
Event is continuing thirty days after delivery of such Credit Event Notice, or upon the occurrence of an event described in clauses (a) and (b) in the definition of Credit Event, all obligations hereunder shall be accelerated (a “Credit
Event Acceleration”) and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of the Credit Event and shall include, (i) the Early Termination Payment calculated as if an Early
Termination Notice had been delivered on the date of the Credit Event; (ii) any Tax Benefit Payment agreed to by the Corporation and the TRA Party Representative as due and payable but unpaid as of such date; and (iii) any Tax Benefit
Payment due for the Taxable Year ending prior to, with or including such date (except to the extent that such amount is included in the Early Termination Payment). 

(c) Divestiture Acceleration Payment. In the event of a Divestiture, the Corporation shall promptly pay to the TRA Parties the
Divestiture Acceleration Payment in respect of such Divestiture, which shall be calculated utilizing the Valuation Assumptions. 
 (d)
Change of Control. In connection with a Change of Control, at the election of the Corporation, either (1) all obligations hereunder with respect to each TRA Party shall be accelerated or (2) each TRA Party’s rights to
payments hereunder will be converted to an unsecured debt obligation with terms [to be agreed to by the parties], which will (x) provide for payments to the TRA Parties equivalent to what would result under Section 3.1 (calculated by
utilizing the Valuation Assumptions and substituting in each case the term “the closing date of a Change of Control” for an “Early Termination Date”) and (y) be documented in a manner similar to unsecured debt and with
information and other rights customary to those provided to debt holders, all in a manner 

  
 17 

 
approved by the TRA Representative (such approval not to be unreasonably withheld, conditioned or delayed). The Corporation hereby agrees to provide twenty days prior written notice to each
TRA Party of a Change of Control (an “Early Termination Option Notice”). If the Corporation elects to terminate the Agreement, then all obligations hereunder with respect to such TRA Party shall be accelerated and such
obligations with respect to a TRA Party shall be calculated as if an Early Termination Notice had been delivered on the date of delivery of such written notice and shall include, the TRA Party’s Ownership
Percentage multiplied by the sum of (i) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of receipt of the Early Termination Option Notice; (ii) any Tax Benefit
Payment agreed to by the Corporation and the TRA Party Representative as due and payable but unpaid as of such date; and (iii) any Tax Benefit Payment due for the Taxable Year ending prior to, with or including such date (except to the extent
that such amount is included in the Early Termination Payment). 
 (e) Early Complete Termination. The Corporation may elect to
terminate this Agreement (an “Early Complete Termination”) by (i) delivering to the TRA Representative notice of its intention to exercise such right (“Early Termination Notice”) and
(ii) paying to the TRA Parties (1) the Early Termination Payment, (2) any Tax Benefit Payment agreed to by the Corporation and the TRA Parties as due and payable but unpaid as of the Early Termination Date and (3) any Tax Benefit
Payment due for the Taxable Year ending prior to, with or including the date of the Early Termination Notice (except to the extent that such amount is included in the Early Termination Payment). In the event of an Early Complete Termination, the
Early Termination Payment shall be calculated utilizing the Valuation Assumptions (substituting references to the date of such Early Termination Notice for references to the Early Termination Date in the definition of Valuation Assumptions). 

(f) Early Payment Right. On or after the fifteenth anniversary of the IPO, the TRA Representative has the right (the “Early
Payment Right”) to terminate this Agreement with respect to each TRA Party by providing written notice to the Corporation (the “Early Payment Right Notice”). If the TRA Representative elects to exercise its Early
Payment Right, then all obligations hereunder with respect to each TRA Party shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date that is
thirty-one days after the delivery of the Early Payment Right Notice (and the Corporation had elected an Early Complete Termination) and shall include, each TRA Party’s Ownership
Percentage multiplied by the sum of (i) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date that is thirty-one days after the
delivery of receipt of the Early Payment Right Notice; (ii) any Tax Benefit Payment agreed to by the Corporation and the TRA Party Representative as due and payable but unpaid as of such date; and (iii) any Tax Benefit Payment due for the
Taxable Year ending prior to, with or including such date (except to the extent that such amount is included in the Early Termination Payment). 

Section 4.2 Early Termination Schedule. In the event of an Early Determination Date resulting from the application of
Section 4.1, the Corporation shall 

  
 18 

 
deliver to the TRA Representative as soon as reasonably practicable (and no later than ninety (90) days after the event described in Section 4.1) a schedule (the “Early
Termination Schedule”) showing in reasonable detail the information required pursuant to the penultimate sentence of Section 2.2(a) and the calculation of the Early Termination Payment or the Divestiture Acceleration Payment or any
other amount payable pursuant to or described in Section 4.1, respectively (including the projections of the Corporate Taxpayers’ taxable income under clause (i) of the Valuation Assumptions). The Early Termination Schedule shall
become final and binding on all parties unless the TRA Representative, within thirty (30) calendar days after receiving the Early Termination Schedule provides the Corporation with notice of a material objection to such Schedule made in good
faith (“Material Objection Notice”). If the parties for any reason are unable to successfully resolve the issues raised in such notice within fifteen (15) calendar days after receipt by the Corporation of the Material
Objection Notice, the Corporation and the TRA Representative shall employ the Reconciliation Procedures as described in Section 7.8 of this Agreement. 

Section 4.3 Payment upon Early Termination. 

(a) Except as provided in Section 5.3, no later than three (3) calendar days after the date the Early Termination Schedule is
finalized pursuant to Section 4.2, the Corporation shall pay to each TRA Party, its share (based on such TRA Party’s Ownership Percentage) of an amount equal to the Early Termination Payment or Divestiture Acceleration Payment and any
other payment required to be made pursuant to Sections 4.1 or Section 4.2. Such payment shall be made by wire transfer of immediately available funds to a bank account designated by the applicable TRA Parties or as otherwise agreed by the
Corporation and the TRA Party. 
 (b) The “Early Termination Payment” as of the Early Termination Date (other than an
Early Termination Date arising under clause (ii) of the definition thereof) shall equal with respect to the TRA Parties the present value, discounted at the Early Termination Rate as of such date, of all Tax Benefit Payments that would be
required to be paid by the Corporation to the TRA Parties beginning from the Early Termination Date assuming the Valuation Assumptions are applied; provided, that in the event that the TRA Representative exercises an Early Payment Right, the Early
Termination Rate shall be LIBOR plus 350 basis points if the TRA Model reflects aggregate Tax Benefit Payments (on a non-discounted basis) to be paid after the delivery of the Early Payment Right Notice
pursuant to Section 4.1(g) that equal or exceed 97% of the Early Termination Payment (assuming that the Early Termination Rate is zero and disregarding any change in applicable Tax rate following the IPO Date), and in all other cases, the Early
Termination Rate where the TRA Representative exercises an Early Payment Right shall be the lesser of 6.5% per annum, compounded annually, or LIBOR plus 100 basis points. For purposes of calculating the present value pursuant to this
Section 4.3(b) of all Tax Benefit Payments that would be required to be paid, it shall be assumed that (i) absent the Early Termination Event all Tax Benefit Payments would be paid on May 15th of the year following the applicable Taxable
Year. The computation of the Early Termination Payment is subject to the Reconciliation Procedures as described in Section 7.8 of this Agreement. 

  
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 (c) The “Divestiture Acceleration Payment” as of the date of any
Divestiture shall equal with respect to the TRA Parties the present value, discounted at the Early Termination Rate as of such date, of the Tax Benefit Payments resulting solely from the Transferred Tax Attributes that would be required to be paid
by the Corporation to the TRA Parties beginning from the date of such Divestiture assuming the Valuation Assumptions are applied, provided that the Divestiture Acceleration Payment shall be calculated without giving effect to any limitation on the
use of the Transferred Tax Attributes resulting from the Divesture. For purposes of calculating the present value pursuant to this Section 4.3(c) of all Tax Benefit Payments that would be required to be paid, it shall be assumed that
(i) absent the Divestiture all Tax Benefit Payments would be paid on May 15th of the year following the applicable Taxable Year. The computation of the Divestiture Acceleration Payment is subject to the Reconciliation Procedures as described in
Section 7.8 of this Agreement. 
 ARTICLE V 

LATE PAYMENTS, ETC. 

Section 5.1 Late Payments by the Corporation. Other than with respect to payments pursuant to Section 3.1, the amount of all
or any portion of any TRA Payment not made to the TRA Parties when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such TRA Payment was due
and payable. 
 Section 5.2 Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax
Benefit Payment required to be made by the Corporation under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations in respect of indebtedness
for borrowed money of the Corporation and its Subsidiaries (“Senior Obligations”) and shall rank pari passu in right of payment with all current or future unsecured obligations of the Corporation that
are not Senior Obligations. 
 Section 5.3 Compliance with Indebtedness. The parties acknowledge, and the Corporation
represents, that the Corporation has provided information to the TRA Representative as of the date of this Agreement regarding the capacity of the Corporate Taxpayer and its U.S. subsidiaries to fund dividends, and represents that such information
is true, correct and complete in all material respects. Notwithstanding anything to the contrary provided herein, if, at the time any amounts becomes due and payable hereunder, (a) the Corporation is not permitted, pursuant to the terms of its
or its Subsidiaries’ outstanding indebtedness, to pay such amounts, (b) in the good faith determination of the Corporation, the payment of such amounts would be reasonably likely to result in a breach of any covenant set forth in any
agreement governing indebtedness of the Corporation or its subsidiaries or (c) (i) the Corporation does not have the cash on hand to pay such amounts, and (ii) no Subsidiary of the Corporation is able and permitted, pursuant to the terms
of its outstanding indebtedness, to pay directly or through a series of dividends, sufficient amount to the Corporation to enable it to pay such amounts, then, in each case, the Corporation shall, by notice to the TRA Representative, be permitted to
defer the payment of such amounts until the condition described in clause (a), (b) or (c) is no longer applicable, in which case such amounts (together 

  
 20 

 
with accrued and unpaid interest thereon as described in the immediately following sentence) shall become due and payable immediately, and such deferral shall not constitute a breach of a
material obligation under Section 4.1(a) (other than any Early Termination Payment payable in connection with a Change of Control); provided, however, and notwithstanding anything in this Agreement to the contrary, if the Corporation fails to
make any Tax Benefit Payment when due, the Corporate Taxpayer shall use reasonable best efforts to obtain funds to make such payment (including by causing its Subsidiaries to distribute or lend funds to facilitate such payment, and by accessing any
revolving credit facilities or other sources of available credit to fund any such amounts), and such failure to make a Tax Benefit Payment shall be a material breach of a material obligation under this Agreement upon the one-year anniversary of the initial due date (i.e., if there was no deferral) of the applicable payment that will be treated as if the Corporation elected there to be an Early Complete Termination and delivered
an Early Termination Notice on such one-year anniversary. If the Corporation defers the payment of any such amounts pursuant to the foregoing sentence, such amounts shall accrue interest at the Default Rate
per annum, from the date that such amounts originally became due and owing pursuant to the terms hereof to the date that such amounts were paid. To the extent the Corporation or its Subsidiaries incur, create, assume or permit to exist any
indebtedness after the date hereof, the Corporation shall, and shall cause its Subsidiaries to, use commercially reasonable efforts to ensure that such indebtedness permits any amounts payable hereunder to be paid. For the avoidance of doubt,
nothing in the previous sentence shall prevent the Corporation from deferring payments or determining that the holders are not entitled to payments pursuant to this Section 5.3. 

ARTICLE VI 
 TAX MATTERS

 Section 6.1 Corporation Tax Matters. Except as otherwise provided herein, the Corporation shall have full responsibility
for, and sole discretion over, all Tax matters concerning any Corporate Taxpayer including without limitation the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding
the foregoing, the Corporation shall notify the TRA Representative of, and keep the TRA Representative reasonably informed with respect to, the portion of any audit of any Corporate Taxpayer by a Taxing Authority the outcome of which is reasonably
expected to affect any TRA Party’s rights and obligations under this Agreement. To the extent permitted by law, the Corporation shall file a consolidated federal income Tax Return for each Taxable Year with respect to any domestic corporation
(for U.S. federal income tax purposes) that is a member of the Corporation’s “affiliated group” within the meaning of Section 1504 of the Code. 

Section 6.2 Cooperation. The Corporate Taxpayer shall not, and shall cause each of its Subsidiaries to not, without the prior
written consent of the TRA Representative, take any action that has the principal purpose of avoiding the use of or reducing utilization of Covered Tax Attributes available to it. The Corporation will promptly provide the TRA Representative upon
request reasonably detailed information regarding the Corporate Taxpayer’s good faith projections of the Corporate Taxpayer’s taxable income and payments to be made pursuant to this Agreement; provided that (i) the TRA Representative shall
not provide any such information to any third-party without 

  
 21 

 
such third-party first executing a customary non-disclosure agreement and (ii) the Corporate Taxpayer shall have no separate obligation to retain
external advisors in connection with providing such information. The Corporate Taxpayer will also disclose to the TRA Representative on an annual basis all material intercompany agreements entered into (or amended) after the IPO Date if such
agreement results in a payment being made that results in a deduction to the Corporate Taxpayer where the payee is Affiliate of the Corporation and is not a Corporate Taxpayer. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be
deemed duly given and received (a) on the date of delivery if delivered personally, or email upon confirmation of transmission (via delivery receipt requested) if sent on a Business Day (or otherwise on the next Business Day) or (b) on the
first Business Day following the date of dispatch if delivered by a recognized next-day courier service. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as
may be designated in writing by the party to receive such notice: 
 If to the Corporation, to: 

[•] 
 Attention: [•]

 Email: [email address] 

with a copy to (which shall not constitute notice): 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York,
NY 10017 
 Attention: [•] 

If to the TRA Representative, to: 

[•] 
 Attention: [•]

 Email: [email address] 

with a copy to (which shall not constitute notice): 

Any party may change its address, fax number or email by giving the other party written notice of its new address, fax number or email in the manner set forth
above. 
 Section 7.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered
one and the same agreement and shall 

  
 22 

 
become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.
Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 7.3 Entire Agreement; Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all prior
agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and
permitted assigns. Other than as provided in the preceding sentence, nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement. 
 Section 7.4 Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the
State of New York. 
 Section 7.5 Severability. If any term or other provision of this Agreement is invalid, illegal or
incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not
affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 

Section 7.6 Successors; Assignment; Amendments; Waivers. 

(a) Each TRA Party may assign, sell, pledge or otherwise alienate or transfer all or any portion of its rights under this Agreement without the
prior written consent of the Corporation, but such assignment, sale, pledge or other alienation or transfer shall require the prior written consent of the TRA Representative; provided however a TRA Party may not assign, sell, pledge or otherwise
alienate or transfer all or any portion of its rights under this Agreement to the parties listed on Schedule [ ] without the prior written consent of the Corporation. In the case of any such assignment, sale, pledge or other alienation or transfer
to any Person, such person shall execute and deliver a Joinder, substantially in the form of Exhibit A, agreeing to succeed to the applicable portion of such TRA Party’s interest in this Agreement and to become a Party for all purposes of this
Agreement, except as otherwise provided in such Joinder. 
 (b) No provision of this Agreement or any schedule or exhibit with respect
thereto (other than to reflect any assignment, sale, pledge or otherwise alienation or transfer effected pursuant to Section 7.6(a)) may be amended unless such amendment 

  
 23 

 
is approved in writing by the Corporation and the TRA Representative. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver
is to be effective. 
 (c) All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall
be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation shall require and cause any direct or indirect successor (whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would
be required to perform if no such succession had taken place. 
 Section 7.7 Resolution of Disputes. 

(a) Except as provided in Section 7.8, any and all disputes which cannot be settled amicably, including any ancillary claims of any party,
arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability of
this arbitration provision) shall be finally settled by arbitration conducted by a single arbitrator in New York in accordance with the then-existing Rules of Arbitration of the International Chambers of Commerce. If the parties to the dispute fail
to agree on the selection of an arbitrator within thirty (30) calendar days of the receipt of the request for arbitration, the International Chambers of Commerce shall make the appointment. The arbitrator shall be a lawyer and shall conduct the
proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 

(b) Notwithstanding the provisions of paragraph (a), the Corporation and any TRA Party (through the TRA Representative) may bring an action or
special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of
this paragraph (b), the Corporation and each TRA Party (through the TRA Representative) (i) expressly consents to the application of paragraph (c) of this Section 7.7 to any such action or proceeding, and (ii) agrees that proof
shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate. Each TRA Party irrevocably appoints the TRA Representative as its agent for
service of process in connection with any such action or proceeding and agrees that service of process upon such agent shall be deemed in every respect effective service of process upon such TRA Party in any such action or proceeding. 

(c) (i) THE CORPORATION AND EACH TRA PARTY (THROUGH THE TRA REPRESENTATIVE) HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS
LOCATED IN NEW YORK, NEW YORK FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN 

  
 24 

 
ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION 7.7, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR
CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties
acknowledge that the fora designated by this paragraph (c) have a reasonable relation to this Agreement, and to the parties’ relationship with one another. 

(ii) The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may
have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in paragraph (c)(i) of this Section 7.7 and such parties agree not to plead or claim the same. 

Section 7.8 Reconciliation. In the event that the Corporation and the TRA Representative are unable to resolve a disagreement with
respect to any tax matter or calculation required under this Agreement, including the matters governed by Sections 2.3 or 4.2, within the relevant period designated in this Agreement (or the amount of an Early Termination Payment to which
Section 4.1 applies) (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of
disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting firm or a law firm, and the Expert shall not, and the firm that employs the Expert shall not, have any material
relationship with the Corporation or any of the TRA Parties or other actual or potential conflict of interest. The Expert shall resolve any matter relating to the Early Termination Schedule or an amendment thereto within thirty (30) calendar
days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert
for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement is due or any Tax Return reflecting the subject of a disagreement is due, (i) the undisputed amount
shall be paid on the date prescribed by this Agreement and (ii) such Tax Return may be filed as prepared by the relevant Corporate Taxpayer, subject, in the cause of sub-clauses (i) and (ii), to
adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert shall be borne equally by the Corporation, on the one hand, and by the TRA Representative, on the other hand, except as provided in the next
sentence. Each of the Corporation and the TRA Representative shall bear their own costs and expenses relating to the determination of the Reconciliation Dispute, unless (i) the Expert substantially adopts the TRA Representative’s position,
in which case the Corporation shall reimburse the TRA Representative for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii) the Expert
substantially adopts the Corporation’s position, in which case the TRA Representative shall reimburse the Corporation for any reasonable out-of-pocket costs and
expenses in such proceeding; provided that, for the avoidance of doubt, the Corporation shall bear all costs and expenses related to the tax compliance costs of any Corporate Taxpayer, including the 

  
 25 

 
costs of amending any Tax Return. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.8 shall be decided by the Expert. The Expert shall
finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.8 shall be binding on the Corporation and the TRA Parties and may be entered and enforced in any court having jurisdiction. 

Section 7.9 Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER OR RELATE TO THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR THE BREACH OR VALIDITY OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ACTION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH SUCH PARTY MAKES THIS WAIVER
VOLUNTARILY, AND (iv) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.9. 

Section 7.10 Withholding. Notwithstanding any other provision of this Agreement, the Corporation shall be entitled to deduct and
withhold from any payment payable pursuant to this Agreement such amounts as the Corporation is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law; provided
that the Corporation (i) gives 10 days advance written notice of its intention to make such withholding to the TRA Representative, (ii) identifies the legal basis requiring such withholding and (iii) gives the TRA Representative an
opportunity to establish that such withholding is not legally required. Except upon an applicable change in law, no U.S. federal income Taxes will be required to be withheld in respect of any payment under this Agreement to any Person that is a
“United States Person” within the meaning of Section 7701(a)(30) of the Code that timely delivers to the Corporation a properly completed IRS Form W-9. To the extent that amounts are properly so
withheld and paid over to the appropriate Taxing Authority by the Corporation, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the TRA Party in respect of whom the withholding was made. The
Corporation shall provide evidence of such payment to the TRA Parties (through the TRA Representative) to the extent that such evidence is available. To the extent that any payment pursuant to this Agreement is not reduced by such deductions or
withholdings, the recipient shall indemnify the applicable withholding agent for any amounts imposed by any Taxing Authority together with any costs and expenses related thereto. Each TRA Party shall promptly provide the Corporation or other
applicable withholding agent with any applicable Tax forms and certifications (including IRS Form W-9) reasonably requested in connection with determining whether any such deductions and withholdings are
required under the Code or any provision of U.S. state, local or foreign Tax law. 

  
 26 

 Section 7.11 Affiliated Corporations; Admission of the Corporation into a
Consolidated Group; Transfers of Corporate Assets. If the Corporate Taxpayer is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code,
then: (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit Payments shall be computed with reference to the consolidated taxable income of the group as a whole. If any Person the
income of which is included in the income of the Corporation’s affiliated or consolidated group transfers one or more assets to a corporation with which such Person does not file a consolidated Tax Return pursuant to Section 1501 of the
Code, for purposes of calculating the amount of any Tax Benefit Payment (e.g., calculating the gross income of the Corporation’s affiliated or consolidated group and determining the Realized Tax Benefit) due hereunder, such Person shall be
treated as having disposed of such asset in a fully taxable transaction on the date of such transfer. The consideration deemed to be received by such entity shall be equal to the greater of (1) tax basis of such transferred asset and
(2) the fair market value of such transferred asset, plus (i) the amount of debt to which such asset is subject, in the case of a transfer of an encumbered asset, or (ii) the amount of debt allocated to such asset, in the case of a
transfer of a partnership interest. 
 Section 7.12 Confidentiality. (a) Each TRA Party, through the TRA Representative,
and each of its assignees acknowledges and agrees that the information of the Corporation is confidential and, except in the course of performing any duties as necessary for the Corporation and its Affiliates, as required by law or legal process or
to enforce the terms of this Agreement, shall keep and retain in the strictest confidence and not disclose to any Person all confidential matters of the Corporation or the TRA Parties acquired pursuant to this Agreement, in each case other than the
information provided pursuant to the second sentence of Section 6.2 herein (provided that the TRA Representative shall not provide any such information to any third-party without such third-party first executing a customary non-disclosure
agreement as described in Section 6.2). This Section 7.12 shall not apply to (i) any information that has been made publicly available by the Corporation or any of its Affiliates, becomes public knowledge (except as a result of an act of
any TRA Party in violation of this Agreement) or is generally known to the business community; and (ii) the disclosure of information to the extent necessary for any TRA Party to prepare and file its Tax returns, to respond to any inquiries
regarding the same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by any taxing authority with respect to such returns. Notwithstanding anything to the contrary herein, each TRA Party (and each employee,
representative or other agent of such TRA Party) may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of (x) any Corporate Taxpayer, (y) any of its transactions and (z) this

  
 27 

 
Agreement, and all materials of any kind (including opinions or other tax analyses) that are provided to such TRA Party relating to such tax treatment and tax structure. 

(b) If the TRA Representative, any TRA Party or any of their respective assignees commits a breach, or threatens to commit a breach, of any of
the provisions of this Section 7.12, the Corporation shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive relief or otherwise by any court of competent jurisdiction without the
need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporation or any of its Subsidiaries and the accounts and funds managed by the Corporation
and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available at law or in equity. 

Section 7.13 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof. 
 Section 7.14 Appointment of TRA Representative. 

(a) Appointment. Without further action of any of the Corporation, the TRA Representative or any TRA Party, and as partial consideration
of the benefits conferred by this Agreement, the TRA Representative is hereby irrevocably constituted and appointed, with full power of substitution, to act in the name, place and stead of each TRA Party with respect to the taking by the TRA
Representative of any and all actions and the making of any decisions required or permitted to be taken by the TRA Representative under this Agreement (and any potential agreement with the Corporation to terminate this Agreement earlier than such
time as is provided in Section 4.1 provided that (for the absence of doubt any payment made by the Corporation upon such an early termination shall be paid to each TRA Party based on such TRA Party’s Ownership Percentage), including but
not limited to: (i) execution of the documents and certificates required pursuant to this Agreement; (ii) except to the extent specifically provided in this Agreement receipt and forwarding of notices and communications pursuant to this
Agreement; (iii) administration of the provisions of this Agreement; (iv) any and all consents, waivers, amendments or modifications deemed by the TRA Representative, in its sole and absolute discretion, to be necessary or appropriate
under this Agreement and the execution or delivery of any documents that may be necessary or appropriate in connection therewith; (v) amending this Agreement or any of the instruments to be delivered to the Corporation pursuant to this
Agreement; (vi) taking actions the TRA Representative is expressly authorized to take pursuant to the other provisions of this Agreement; (vii) negotiating and compromising, on behalf of such TRA Parties, any dispute that may arise under,
and exercising or refraining from exercising any remedies available under, this Agreement or any other agreement contemplated hereby and executing, on behalf of such TRA Parties, any settlement agreement, release or other document with respect to
such dispute or remedy; and (viii) engaging attorneys, accountants, agents or consultants on behalf of such TRA Parties in connection with this Agreement or any other agreement contemplated hereby and paying any fees related thereto. The power
of attorney granted herein is coupled with an interest and is 

  
 28 

 
irrevocable and may be delegated by the TRA Representative. No bond shall be required of the TRA Representative, and the TRA Representative shall receive no compensation for its services. 

(b) Expenses. The Corporation shall reimburse the TRA Representative for up to $100,000 annually of all reasonable, documented out-of-pocket costs and expenses incurred by the TRA Representative in its capacity as such upon invoice and reasonable support therefor by the TRA
Representative; provided that the Corporation shall reduce any future payments due to the TRA Parties hereunder pro rata (based on their respective ownership percentage in the Corporation) by the amount of any amounts it pays to the TRA
Representative pursuant to this Section 7.14(b); provided further that the Corporation shall not be required to reimburse the TRA Representative for any expenses incurred in connection with the prosecution or defense of a dispute brought by the
TRA Party under Section 7.7 or Section 7.8 of this Agreement. In connection with the performance of its rights and obligations under this Agreement and the taking of any and all actions in connection therewith, the TRA Representative
shall not be required to expend any of its own funds (though, for the avoidance of doubt, it may do so at any time and from time to time in its sole discretion). 

(c) Limitation on Liability. The TRA Representative shall not be liable to any TRA Party for any act of the TRA Representative arising
out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent any liability, loss, damage, penalty, fine, cost or expense is actually incurred by such TRA Party as a proximate result of the
gross negligence, bad faith or willful misconduct of the TRA Representative (it being understood that any act done or omitted pursuant to the advice of legal counsel shall be conclusive evidence of such good faith and reasonable judgment). The TRA
Representative shall not be liable for, and shall be indemnified by the TRA Parties (on a several but not joint basis) for, any liability, loss, damage, penalty or fine incurred by the TRA Representative (and any cost or expense incurred by the TRA
Representative in connection therewith and herewith and not previously reimbursed pursuant to subsection (b) above) arising out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent
that any such liability, loss, damage, penalty, fine, cost or expense is the proximate result of the gross negligence, bad faith or willful misconduct of the TRA Representative (it being understood that any act done or omitted pursuant to the advice
of legal counsel shall be conclusive evidence of such good faith and reasonable judgment); provided, however, in no event shall any TRA Party be obligated to indemnify the TRA Representative hereunder for any liability, loss, damage,
penalty, fine, cost or expense to the extent (and only to the extent) that the aggregate amount of all liabilities, losses, damages, penalties, fines, costs and expenses indemnified by such TRA Party hereunder is or would be in excess of the
aggregate payments under this Agreement actually remitted to such TRA Party. Each TRA Party’s receipt of any and all benefits to which such TRA Party is entitled under this Agreement, if any, is conditioned upon and subject to such TRA
Party’s acceptance of all obligations, including the obligations of this Section 7.14(c), applicable to such TRA Party under this Agreement. 

  
 29 

 (d) Actions of the TRA Representative. Any decision, act, consent or instruction of
the TRA Representative shall constitute a decision of all TRA Parties and shall be final, binding and conclusive upon each TRA Party, and the Corporation may rely upon any decision, act, consent or instruction of the TRA Representative as being the
decision, act, consent or instruction of each TRA Party. The Corporation is hereby relieved from any liability to any person for any acts done by the Corporation in accordance with any such decision, act, consent or instruction of the TRA
Representative. 
 [Signatures pages follow] 

  
 30 

 IN WITNESS WHEREOF, the Corporation and each TRA Party have duly executed this Agreement as
of the date first written above. 
  

			
	CLARIOS INTERNATIONAL, INC.
		
	By:	 	                                

		 	Name:
		 	Title:
	
	TRA Parties
		
	By:	 	                        
		 	 Name:
 Title:

	
	TRA Representative
		
	By:	 	                            
		 	 Name:
 Title:

 Exhibit A 

Form of Joinder 
 This
JOINDER (this “Joinder”) to the Tax Receivable Agreement (as defined below), is by and among Clarios International, Inc., a Delaware corporation (including any successor corporation, the “Corporation”),
______________________ (“Transferor”) and ______________________ (“Permitted Transferee”). 
 WHEREAS, on
______________________, Permitted Transferee shall acquire ______________________ percent of the Transferor’s right to receive payments that may become due and payable under the Tax Receivable Agreement (as defined below) (the “Acquired
Interests”) from Transferor (the “Acquisition”); and 
 WHEREAS, Transferor, in connection with the Acquisition,
has required Permitted Transferee to execute and deliver this Joinder pursuant to Section 7.6(a) of the Tax Receivable Agreement, dated as of [•], 2021, between the Corporation and the TRA Parties (as defined therein) (the “Tax
Receivable Agreement”). 
 NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth
herein, and intending to be legally bound hereby, the parties hereto agree as follows: 
 Section 1.1 Definitions. To the extent
capitalized words used in this Joinder are not defined in this Joinder, such words shall have the respective meanings set forth in the Tax Receivable Agreement. 

Section 1.2 Acquisition. For good and valuable consideration, the sufficiency of which is hereby acknowledged by the Transferor
and the Permitted Transferee, the Transferor hereby transfers and assigns absolutely to the Permitted Transferee all of the Acquired Interests. 

Section 1.3 Joinder. Permitted Transferee hereby acknowledges and agrees (i) that it has received and read the Tax Receivable
Agreement, (ii) that the Permitted Transferee is acquiring the Acquired Interests in accordance with and subject to the terms and conditions of the Tax Receivable Agreement and (iii) to become a “TRA Party” (as defined in the Tax
Receivable Agreement) for all purposes of the Tax Receivable Agreement. 
 Section 1.4 Notice. Any notice, request, consent,
claim, demand, approval, waiver or other communication hereunder to Permitted Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the signature page hereto in accordance with Section 7.1 of the Tax
Receivable Agreement. 
 Section 1.5 Governing Law. This Joinder shall be governed by and construed in accordance with the law
of the State of New York. 

 IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted
Transferee as of the date first above written. 
  

			
	CLARIOS INTERNATIONAL, INC.
		
	By:	 	                
		 	Name:
		 	Title:
	
	[TRANSFEROR]
		
	By:	 	                    
		 	Name:
		 	Title:
	
	[PERMITTED TRANSFEREE]
		
	By:	 	                    
		 	Name:
		 	Title:
	
	Address for notices:

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