Document:

EX-10.10

 Exhibit 10.10 

SHAREHOLDERS AGREEMENT 

dated as of 
 October 29,
2018 
 among 
 STONECO LTD.

 and 
 CERTAIN
SHAREHOLDERS OF STONECO LTD. 

 TABLE OF CONTENTS 

 
  

 

					
	 	  	PAGE	 
	 ARTICLE 1
	  			
	DEFINITIONS	  			
		
	 Section 1.01. Definitions
	  	 	1	 
	 Section 1.02. Other Definitional and Interpretative Provisions
	  	 	4	 
		
	 ARTICLE 2
	  			
	CORPORATE GOVERNANCE	  	 	 
		
	 Section 2.01. Composition of the Board
	  	 	4	 
	 Section 2.02. Removal
	  	 	6	 
	 Section 2.03. Vacancies
	  	 	6	 
	 Section 2.04. Board Expenses
	  	 	6	 
	 Section 2.05. Board Committees
	  	 	7	 
	 Section 2.06. Actions Requiring Consent
	  	 	7	 
		
	ARTICLE 3	  	 	 
	CERTAIN COVENANTS AND AGREEMENTS	  	 	 
		
	 Section 3.01. Access; Information
	  	 	8	 
	 Section 3.02. Confidentiality
	  	 	8	 
	 Section 3.03. Conflicting Agreements
	  	 	10	 
	 Section 3.04. Corporate Opportunities
	  	 	10	 
		
	ARTICLE 4	  	 	 
	MISCELLANEOUS	  	 	 
		
	 Section 4.01. Binding Effect; Assignability; Benefit
	  	 	10	 
	 Section 4.02. Notices
	  	 	11	 
	 Section 4.03. Term;Waiver; Amendment
	  	 	12	 
	 Section 4.04. Fees and Expenses
	  	 	12	 
	 Section 4.05. Governing Law
	  	 	12	 
	 Section 4.06. Jurisdiction
	  	 	13	 
	 Section 4.07. Specific Enforcement
	  	 	13	 
	 Section 4.08. Counterparts; Effectiveness
	  	 	13	 
	 Section 4.09. Entire Agreement
	  	 	13	 
	 Section 4.10. Severability
	  	 	13	 

 Exhibit A    Joinder Agreement 

 SHAREHOLDERS AGREEMENT 

This SHAREHOLDERS AGREEMENT (as the same may be amended from time to time in accordance with its terms, the “Agreement”) is
entered into as of October 29, 2018, by and among StoneCo Ltd., an exempted company formed under the laws of the Cayman Islands (the “Company”), and each Shareholder whose name appears on the signature pages hereto. 

W I T N E S S E T H: 

WHEREAS, the Company is currently contemplating an underwritten initial public offering (the “IPO”) of shares of its
Class A Common Shares; 
 WHEREAS, in connection with, and effective upon, the completion of the IPO (such date of completion, the
“IPO Date”) of the Company, the Company and the Shareholders (as defined in Section 1.01 hereof) wish to set forth certain understandings between such parties, including with respect to certain governance matters; and 

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01. Definitions. (a) As used in this Agreement, the following terms have the following meanings: 

“Affiliate” means, in respect of a Person, means any other Person that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with, such Person, and (i) in the case of a natural person, shall include, without limitation, such person’s spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and sisters-in-law, whether by blood, marriage or adoption or any relative up to the second degree, a trust for the benefit of any of the foregoing, a company, partnership or any natural person or entity wholly
or jointly owned by any of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with, such entity.For the purpose of this definition, the term “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and
“under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise. 
 “Aggregate Voting Power” means, with respect to any
Shareholder or group of Shareholders, the total voting power of the total number of Shares (as determined on a Common Equivalents basis) entitled to vote generally in the election of the Company’s Directors that are “beneficially
owned” (as such term is defined in Rule 13d-3 of the Exchange Act) (without duplication) by such Shareholder or group of Shareholders as of the date of such calculation. 

 “Articles of Association” means the Amended and Restated Memorandum and
Articles of Association of the Company, as the same may be amended from time to time. 
 “Board” means the board of
directors of the Company. 
 “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks
in the Cayman Islands or New York City are authorized by law to close. 
 “Change of Control” means (i) the merger or
consolidation of the Company or any of its Subsidiaries with or into another Person (other than the Company or any of its wholly-owned Subsidiaries) or the merger of another Person (other than the Company or any of its wholly-owned Subsidiaries)
with or into the Company or any of its Subsidiaries, (ii) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any Person other than a wholly-owned Subsidiary or (iii) any “person” or “group” (as such terms are used for purposes
of Section 13(d) of the Exchange Act) is or becomes the a beneficial owner, directly or indirectly, of more than 50% of the total voting power of the capital stock of the Company entitled to vote generally in the election of the Company’s
Directors or acquires the power to direct or cause the direction of the management and policies of the Company, whether through the ownership of voting securities, by contract or otherwise. 

“Common Equivalents” means (i) with respect to Common Shares, the number of Shares, (ii) with respect to any
Company Securities that are convertible into or exchangeable for Common Shares, the number of Shares issuable in respect of the conversion or exchange of such securities into Common Shares. 

“Class A Common Shares” means the Class A common shares, par value $0.000079365 per share, of
the Company and any other security into which such Class A Common Shares may hereafter be converted or changed. 

“Class B Common Shares” means the Class B common shares, par value $0.000079365 per share, of
the Company and any other security into which such Class B Common Shares may hereafter be converted or changed. 
 “Common
Shares” means collectively, the Class A Common Shares and the Class B Common Shares (provided that in no circumstance shall such shares be counted twice). 

“Company Securities” means (i) the Common Shares and (ii) securities that entitle the holder to vote in the
election of directors to the Board that are convertible into or exchangeable for Common Shares. 
 “Exchange” means the
Nasdaq Global Market or such other stock exchange or securities market on which the Shares are listed. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 

  
 2 

 “Governing Documents” means the Articles of Association, as amended or
modified from time to time. 
 “Independent Director” means an “independent director” as such term is used in the
listing requirements of the Exchange. 
 “Necessary Action” means, with respect to a specified result, all actions (to the
extent such actions are permitted by law and by the Governing Documents) necessary to cause such result, including (i) voting or providing a written consent or proxy with respect to the Company Securities, (ii) causing the adoption of
shareholders’ resolutions and amendments to the Governing Documents, (iii) executing agreements and instruments, and (iv) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings,
registrations or similar actions that are required to achieve such result. 
 “Person” means an individual, corporation,
limited liability company, partnership, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Permitted Assigns” means with respect to any of the Shareholders, their respective Affiliates who are a transferee of Shares
(which are transferred other than pursuant to a widely distributed public sale) that agrees in writing to become party to, and be bound to the same extent as its transferor by the terms of, this Agreement, in the form of Exhibit A hereto; provided,
that upon such Transfer, such Permitted Assign shall be deemed to be a “Shareholder” hereto for all purposes herein. 

“Shareholders” means at any time, HR Holdings LLC, VCK Investment Fund Ltd. SAC, Cakubran Holdings Ltd., as long as they
remain vehicles controlled by André Street de Aguiar, Eduardo Cunha Monnerat Solon de Pontes, collectively, and any Person (other than the Company) affiliated with André Street or Eduardo Pontes and any of their Permitted Assigns who
in each case shall then be a party to or bound by this Agreement, so long as such Person shall “beneficially own” (as such term is defined in Rule 13d-3 of the Exchange Act) any Company Securities.

 “Shares” means the outstanding Common Shares. 

“Subsidiary” means, with respect to any Person, any entity of which securities or other ownership interests having ordinary
voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person. 

(b) Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	 Term
	  	Section
	 Shareholder Directors
	  	2.01
	 Cause
	  	2.02
	 Company
	  	Preamble
	 Confidential Information
	  	3.02(b)
	 Replacement Nominee
	  	Section 2.03
	 Representatives
	  	3.02(b)

  
 3 

 Section 1.02. Other Definitional and Interpretative Provisions. The words
“hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for
convenience of reference only and shall be ignored in the construction or interpretation hereof. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified.
All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule, but not otherwise defined therein,
shall have the meaning as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words “include”, “includes” or “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like import. “Writing”, “written” and comparable
terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof; provided that with respect to any agreement or contract listed on any schedules hereto, all such amendments, modifications or supplements must also be listed in the appropriate schedule.
References to any law include all rules and regulations promulgated thereunder. References to any Person include the successors and permitted assigns of that Person. References from or through any date mean, unless otherwise specified, from and
including or through and including, respectively. 
 ARTICLE 2 

CORPORATE GOVERNANCE 

Section 2.01. Composition of the Board. (a) The members of the Board shall be nominated and elected in accordance with the
Governing Documents and the provisions of this Agreement. Effective as of the IPO Date, the Board shall be comprised of five Directors, which directors shall initially be (i) André Street de Aguiar, Eduardo Cunha Monnerat Solon de
Pontes, Roberto Moses Thompson Motta (collectively, the “Shareholder Directors”), Thomas A. Patterson and Ali Mazanderani. The Chairman of the Board shall initially be André Street de Aguiar. 

(b) From and after the date hereof, the Shareholders shall have the right, but not the obligation, to nominate a number of designees to the
Board, equal to: 
 (i) up to three designees (or if the size of the Board is increased, a majority (i.e. more than 50%) of
the Total Number of Directors, rounded upward to the nearest whole number), so long as the Shareholders’ and their Affiliates’ Aggregate Voting Power of Shares (as determined on a Common Equivalents basis) continues to be at least 25% of
the total voting power of all Shares (as determined on a Common Equivalents basis), 

  
 4 

 (ii) up to two designees (or if the size of the Board is increased, 25% of
the Total Number of Directors, rounded upward to the nearest whole number), so long as the Shareholders’ and their Affiliates’ Aggregate Voting Power of Shares (as determined on a Common Equivalents basis) continues to be at least 10% of
the total voting power of all Shares (as determined on a Common Equivalents basis), and 
 (iii) up to one designee (or if
the size of the Board is increased, 10% of the Total Number of Directors, rounded upward to the nearest whole number), so long as the Shareholders’ and their Affiliates’ Aggregate Voting Power of Shares (as determined on a Common
Equivalents basis) is (x) less than 10% of the total voting power of all Shares and (y) at least 5% of the total voting power of all Shares, each as determined on a Common Equivalents basis. 

In the event that the Shareholders have nominated less than the total number of designees the Shareholders are entitled to nominate pursuant to
this Section 2.01(b), the Shareholders shall have the right, at any time, to nominate such additional designees to which they are entitled, in which case the Shareholders and the Company shall take, or cause to be taken, all Necessary Action to
(A) increase the size of the Board as required to enable the Shareholders to so nominate such additional designees and (B) appoint such additional designees nominated by the Shareholders to such newly created directorships. Each specified
Shareholder designee shall be referred to hereinafter as a “Shareholder Designee.” 
 (c) In accordance with the Articles
of Association, from and after the date on which the Shareholders (and/or their respective Affiliates) no longer constitute a group that beneficially owns more than fifty percent of the outstanding voting power of the Company (the
“Classifying Date”), the Company shall cause the Directors to be, and the Directors shall be, divided into three classes designated Class I, Class II and Class III. Each class of Directors shall consist, as
nearly as possible, of one third of the total number of Directors constituting the entire Board. The Board is hereby authorized to assign members of the Board in office at the Classifying Date to such classes. Each Director shall serve for
a term ending on the date of the third annual general meeting of shareholders next following the annual general meeting of shareholders at which such Director was elected, provided that Directors initially designated as Class I Directors
(“Class I Directors”) shall serve for a term ending on the date of the first annual general meeting of shareholders following the Classifying Date, Directors initially designated as Class II Directors
(“Class II Directors”) shall serve for a term ending on the second annual general meeting of shareholders following the Classifying Date, and Directors initially designated as Class III Directors
(“Class III Directors”) shall serve for a term ending on the date of the third annual general meeting of shareholders following the Classifying Date. The Shareholder Designees shall be allocated to the
longest duration classes, unless otherwise determined by the Shareholders. 
 (d) The Company agrees, to the fullest extent permitted by
applicable law (including with respect to any applicable fiduciary duties under Cayman Islands law), to take all Necessary Action to effectuate the above by; (A) including the persons designated pursuant to
this Section 2.01 in the slate of nominees recommended by the 

  
 5 

 
Board for election at any meeting of stockholders called for the purpose of electing Directors, (B) nominating and recommending each such individual to be elected as a Director as provided
herein, (C) soliciting proxies or consents in favor thereof, and (D) without limiting the foregoing, otherwise using its reasonable best efforts to cause such nominees to be elected to the Board, including providing at least as high a
level of support for the election of such nominees as it provides to any other individual standing for election as a Director.
 (e) At any
time the number of Directors that the Shareholders are entitled to designate pursuant to this Section 2.01 is less than the number of Shareholder Directors on the Board, the Shareholders shall cause the required number of Directors to resign
from the Board or not stand for reelection on or prior to the Company’s next general meeting of shareholders at which Directors of the Company are to be elected, and any vacancies resulting from such resignation shall be filled by the Board in
accordance with the Governing Documents, the rules of the U.S. Securities Exchange Commission (the “SEC”) and the rules of the Exchange then in effect. 

(f) For the avoidance of doubt, the rights granted to the Shareholders to designate members of the Board are additive to, and not intended to
limit in any way, the rights that the Shareholders or any of their respective Affiliates may have to nominate, elect or remove directors under the Governing Documents or Cayman Islands law. 

Section 2.02. Removal. So long as a Shareholder is entitled to designate one or more nominees pursuant to Section 2.01 such
Shareholder shall have the right to remove any such director (with or without cause), from time to time and at any time, from the Board, exercisable upon written notice to the Company, and the Company shall take all Necessary Action to cause such
removal. 
 Section 2.03. Vacancies. In the event that a vacancy is created on the Board at any time by the death, disability,
resignation or removal (whether by the Shareholders or otherwise in accordance with the Governing Documents, as either may be amended or restated from time to time) of a Shareholder Director, the Shareholders entitled to appoint such Shareholder
Director shall be entitled to designate an individual to fill the vacancy so long as the total number of persons that will serve on the Board as designees of such Shareholders immediately following the filling of such vacancy will not exceed the
total number of persons such Shareholder is entitled to designate pursuant to Section 2.01 on the date of such replacement designation. The Company and the Shareholders shall take all Necessary Action to cause such
replacement designee to become a member of the Board. 
 Subject to the provisions of this Agreement, the Board may nominate additional
Directors to the Board, or fill any vacancy on the Board, pursuant to the terms of the Governing Documents. 
 Section 2.04. Board
Expenses. The Company shall pay all reasonable out-of-pocket expenses incurred by each director in connection with attending regular and special meetings of the
Board and any committee thereof, and any such meetings of the board of directors of any Subsidiary of the Company and any committee thereof. 

  
 6 

 Section 2.05. Board Committees. As of the IPO Date, the Board has designated
each of the following committees: a Compensation Committee, an Audit Committee, a Finance Committee and an Advisory Board Committee. As of the IPO Date, the committees shall be comprised of the persons identified in the section titled
“Management—Committees of the Board of Directors” in the Company’s registration statement on Form F-1 filed with the SEC on October 16, 2018 (the “Form F-1”). For so long as the Shareholders have the right to designate at least one (1) Shareholder Director pursuant to Section 2.01, the Shareholders shall have the right, but not the
obligation, to designate the pro rata share of the total number of members of each committee of the Board that is equal to the proportion that the number of Shareholder Designees bears to the Total Number of Directors of the Company pursuant
to Section 2.01; provided that the right of any Shareholder Director to serve on a committee shall be subject to applicable Law and the Company’s obligation to comply with any applicable independence requirements of the Stock
Exchange. 
 Section 2.06. Actions Requiring Consent. For so long as the Shareholders’ and their respective
Affiliates’ Aggregate Voting Power of Shares (as determined on a Common Equivalents basis), continues to be at least 15% of the total voting power of all Shares (as determined on a Common Equivalents basis), the Company agrees that it will not
take any action, nor shall it permit its Subsidiaries to take any action (including any action by the Board or any committee thereof), with respect to any of the following matters without the prior written approval of the Shareholders: 

(a) entering into any transaction or series of transactions that would result in a Change of Control; 

(b) any merger, consolidation, reorganization (including conversion) or any other business combination involving the Company or any of its
Subsidiaries; 
 (c) any liquidation, dissolution, receivership, commencement of bankruptcy, insolvency or similar proceedings with respect
to the Company or any of its Subsidiaries; 
 (d) authorizing or issuing any capital stock of the Company or any security or obligation that,
by its terms, directly or indirectly, is convertible into or exchangeable or exercisable for Common Equivalents or preferred shares of the Company and any option, warrant or other right to subscribe for, purchase or acquire Common Equivalents or
preferred shares of the Company, other than (i) pursuant to the StoneCo Ltd. 2018 Omnibus Equity Plan approved by the Board on or prior to the IPO and (ii) in connection with the exchange or conversion of Class A Common Shares into
Class B Common Shares, as contemplated by the Governing Documents; 
 (e) the acquisition, sale, conveyance, transfer or other
disposition of any asset or business of the Company and/or its Subsidiaries, in one transaction or a series of related transactions, the aggregate consideration or fair value of which is greater than or equal to 20% of the Company’s fair market
value on the date of such transaction, as determined by the Board in good faith; 

  
 7 

 (f) the incurrence, creation, or assumption of any indebtedness of the Company or any of its
subsidiaries in an amount greater than or equal to the Company’s net equity in the aggregate on a consolidated basis; 
 (g) any
amendment, alteration or repeal of any provision of the Governing Documents of the Company or any of its Subsidiaries, including the Articles of Association of the Company; or 

(h) any determination or approval of the annual compensation of the senior executive officers and/or Directors of the Company. 

ARTICLE 3 
 CERTAIN
COVENANTS AND AGREEMENTS 
 Section 3.01. Access; Information. For so long
as the Shareholders’ and their respective Affiliates’ Aggregate Ownership of Shares (as determined on a Common Equivalents Basis) continues to be at least 5% of the total voting power of all Shares (as determined on a Common Equivalents
Basis), the Company shall, and shall cause its Subsidiaries to, permit the Shareholders, and their designated representatives, at reasonable times and upon reasonable prior notice to the Company, to review the books and records of the Company or any
of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary; provided, however, that the Company shall not be required to
disclose any privileged information of the Company so long as the Company has used its best efforts to provide such information to the Shareholder, as applicable, without the loss of any such privilege, and notified the Shareholder that such
information has not been provided. 
 Section 3.02. Confidentiality. (a) Each Shareholder agrees that Confidential
Information furnished and to be furnished to it has been and may in the future be made available in connection with such Shareholder’s investment in the Company. Each Shareholder agrees that it shall use, and that it shall cause any Person to
whom Confidential Information is disclosed pursuant to clause (i) below to use, the Confidential Information only in connection with its investment in the Company and not for any other purpose (including to disadvantage competitively the
Company, any of its Affiliates or any other Shareholder). Each Shareholder further acknowledges and agrees that it shall not disclose any Confidential Information to any Person, except that Confidential Information may be disclosed: 

(i) to such Shareholder’s Representatives in the normal course of the performance of their duties or to any financial
institution providing credit to such Shareholder; 
 (ii) such information becomes known to the public through no fault of
such Shareholder; 

  
 8 

 (iii) to the extent required by applicable law, rule or regulation
(including complying with any oral or written questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process to which a Shareholder is subject; provided that such Shareholder agrees
to give the Company prompt notice of such request(s), to the extent practicable, so that the Company may seek an appropriate protective order or similar relief (and the Shareholder shall cooperate with such efforts by the Company, and shall in any
event make only the minimum disclosure required by such law, rule or regulation)); 
 (iv) such information was available or
becomes available to such Shareholder before, on or after the date hereof, without restriction, from a source (other than the Company) without any breach of duty to the Company; 

(v) to any regulatory authority to which the Shareholder or any of its Affiliates is subject; provided that such
authority is advised of the confidential nature of such information; 
 (vi) to the extent related to the tax treatment and
tax structure of the transactions contemplated by this Agreement (including all materials of any kind, such as opinions or other tax analyses that the Company, its Affiliates or its Representatives have provided to such Shareholder relating to such
tax treatment and tax structure); provided that the foregoing does not constitute an authorization to disclose the identity of any existing or future party to the transactions contemplated by this Agreement or their Affiliates or
Representatives, or, except to the extent relating to such tax structure or tax treatment, any specific pricing terms or commercial or financial information; or 

(vii) if the prior written consent of the Board shall have been obtained. 

Nothing contained herein shall prevent the use (subject, to the extent possible, to a protective order) of Confidential Information in connection with the
assertion or defense of any claim by or against the Company or any Shareholder. 
 (b) “Confidential Information” means any
information concerning the Company or any Persons that are or become its Subsidiaries or the financial condition, business, operations or prospects of the Company or any such Persons in the possession of or furnished to any Shareholder (including by
virtue of its present or former right to designate a director of the Company); provided that the term “Confidential Information” does not include information that (i) is or becomes generally available to the public other than
as a result of a disclosure by a Shareholder or its directors, officers, employees, stockholders, members, partners, agents, counsel, investment advisers or other representatives (all such persons being collectively referred to as
“Representatives”) in violation of this Agreement, (ii) was available to such Shareholder on a non-confidential basis prior to its disclosure to such Shareholder or its Representatives by
the Company, (iii) becomes available to such Shareholder on a non-confidential basis from a source other than the Company after the disclosure of such information to such Shareholder or its
Representatives by the Company, which source is (at the time of receipt of the relevant information) not, to the best of such Shareholder’s knowledge, bound by a confidentiality agreement with (or other confidentiality obligation to) the
Company or another Person or (iv) is independently developed by such Shareholder without violating any confidentiality agreement with, or other obligation of secrecy to, the Company. 

  
 9 

 Section 3.03. Conflicting Agreements. The Company and each Shareholder
represents and agrees that it shall not grant any proxy or enter into or agree to be bound by any voting trust or agreement with respect to the Company Securities, or enter into any agreement or arrangement of any kind with any Person with respect
to any Company Securities, in each case that is inconsistent with the provisions of this Agreement or for the purpose or with the effect of denying or reducing the rights of any other Shareholder under this Agreement. 

Section 3.04. Corporate Opportunities. To the fullest extent permitted by applicable law, the Company, on behalf of itself and its
Subsidiaries, waives and renounces any right, interest or expectancy of the Company and/or its Subsidiaries in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to or business
opportunities of which any of the Shareholders or any of their respective officers, directors, agents, shareholders, members, partners, Affiliates and Subsidiaries (other than the Company and its Subsidiaries) (each, a “Specified
Party”) gain knowledge, even if the opportunity is competitive with the business of the Company or its Subsidiaries or one that the Company or its Subsidiaries might reasonably be deemed to have pursued or had the ability or desire to
pursue if granted the opportunity to do so and each such Specified Party shall have no duty (statutory, fiduciary, contractual or otherwise) to communicate or offer such business opportunity to the Company and, to the fullest extent permitted by
applicable law, shall not be liable to the Company or any of its Subsidiaries for breach of any statutory, fiduciary, contractual or other duty, as a director or otherwise, by reason of the fact that such Specified Party pursues or acquires such
business opportunity, directs such business opportunity to another person or fails to present or communicate such business opportunity, or information regarding such business opportunity, to the Company or its Subsidiaries. Notwithstanding anything
in this Section 3.04 to the contrary, a Specified Party who is a director of the Company and who is offered a business opportunity for the Company or its Subsidiaries in his or her capacity solely as a director of the Company (a
“Directed Opportunity”) shall be obligated to communicate such Directed Opportunity to the Company; provided, however, that all of the protections of this Section 3.04 shall otherwise apply to the Specified
Parties with respect to such Directed Opportunity, including the ability of the Specified Parties to pursue or acquire such Directed Opportunity, directly or indirectly, or to direct such Directed Opportunity to another person. 

ARTICLE 4 

MISCELLANEOUS 

Section 4.01. Binding Effect; Assignability; Benefit. (a) Except as otherwise provided herein, this Agreement shall inure to
the benefit of and be binding upon the parties hereto and their respective heirs, successors, legal representatives and permitted assigns. Any Shareholder that ceases to beneficially own any Company Securities shall cease to be bound by the terms
hereof (other than Sections 3.02, 4.02, 4.05, 4.06, 4.07, 4.09 and 4.10). 

  
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 (b) Neither the Company nor any of the Shareholders shall assign or transfer all or any part
of this Agreement without the prior written consent of the other parties hereto; provided, however, that the Shareholders shall be entitled to assign, in whole or in part, to any of their Permitted Assigns without such prior written consent. Any
such Permitted Assignee that shall become a party to this Agreement shall (unless already bound hereby) execute and deliver to the Company an agreement to be bound by this Agreement in the form of Exhibit A hereto and shall thenceforth be a
“Shareholder.” 
 (c) Nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the parties
hereto, and their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 

Section 4.02. Notices. All notices, requests and other communications to any party shall be in writing and shall be delivered in
person, mailed by certified or registered mail, return receipt requested, or sent by facsimile transmission or email transmission so long as receipt of such email is requested and received: 

if to the Company to: 

StoneCo Ltd. 

R. Fidêncio Ramos, 308, 10th floor 

Vila Olímpia, São Paulo, SP, Brazil 

04551-010 

Attention: Chief Executive Officer and Legal Department 

with a copy to: 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 

New York, NY 10017 

Attention: Byron B. Rooney 

Fax: (212) 701-5800 

Email: byron.rooney@davispolk.com 

if to the Shareholders, to: 

André Street 

R. Fidêncio Ramos, 308, 10th floor 

Vila Olímpia, São Paulo, SP, Brazil 

04551-010 

Attention: Daniela Mastrorocco 

  
 11 

 with a copy to: 

Gênova Consultoria e Participações Ltda. 

R. Fidêncio Ramos, 308, 10th floor 

Vila Olímpia, São Paulo, SP, Brazil 

04551-010 

Attention: Legal Department 

Email: dmastrorocco@arpexcapital.com.br 

All notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to
5:00 p.m. in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt.
Any notice, request or other written communication sent by facsimile transmission shall be confirmed by certified or registered mail, return receipt requested, posted within one Business Day, or by personal delivery, whether courier or otherwise,
made within two Business Days after the date of such facsimile transmissions. 
 Any Permitted Assignee that becomes a Shareholder shall
provide its address, fax number and email address to the Company. 
 Section 4.03. Term; Waiver; Amendment. (a) This
Agreement shall terminate as it relates to each Shareholder on the earlier to occur of: (i) such time as the Shareholders’ and their respective Affiliates’ Aggregate Ownership of Shares (as determined on a Common Equivalents Basis)
cease to be at least 5% of the total voting power of all Shares (as determined on a Common Equivalents Basis) (ii) any Shareholder ceases to beneficially own any Company Securities, and (iii) upon the delivery of a written notice by such
Shareholder to the Company requesting that this Agreement terminate as it relates to such Shareholder (in each case, other than Sections 3.02, 4.02, 4.05, 4.06, 4.07, 4.09 and 4.10). 

(b) This Agreement may be amended, waived or otherwise modified only by a written instrument executed by the parties hereto. In addition, any
party may waive any provision of this Agreement with respect to itself by an instrument in writing executed by the party against whom the waiver is to be effective. Except as provided in the preceding sentences, no action taken pursuant to this
Agreement, including any investigation by or on behalf of any party, will be deemed to constitute a waiver by the party taking such action of compliance with any covenants or agreements contained herein. The waiver by any party hereto of a breach of
any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach. 
 Section 4.04. Fees and
Expenses. All costs and expenses incurred in connection with the preparation of this Agreement, or any amendment or waiver hereof, and the transactions contemplated hereby shall be paid by the party incurring such costs or expenses. 

Section 4.05. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the Cayman
Islands. 

  
 12 

 Section 4.06. Jurisdiction. Each party hereto submits to the non-exclusive jurisdiction of the Cayman Islands courts for the purpose of any action arising out of or in relation to this Agreement. Each party agrees that, in any such action, it will not contest jurisdiction on
the grounds that the Cayman Islands courts are an inconvenient forum or otherwise. 
 Section 4.07. Specific Enforcement. Each
party hereto acknowledges that the remedies at law of the other parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition
to all other remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be
available. 
 Section 4.08. Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective upon completion of the IPO on the IPO Date; provided, that this
Agreement shall be of no force and effect (i) prior to the completion of the IPO and (ii) if the IPO has not been consummated within thirty (30) Business Days from the date of this Agreement. Until and unless each party has received a
counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). 

Section 4.09. Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto with respect to the
subject matter hereof. There are no agreements, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement supersedes all other prior agreements and
understandings between the parties with respect to such subject matter. 
 Section 4.10. Severability. If any term, provision,
covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full
force and effect and shall in no way be affected, impaired or invalidated 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 a determination,
the parties 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 so that the transactions contemplated hereby be consummated as originally
contemplated to the fullest extent possible. 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

					
	THE COMPANY:
	
	STONECO LTD.
		
	By:	 	 /s/ Thiago dos Santos Piau

		 	Name:	 	Thiago dos Santos Piau
		 	Title:	 	Chief Executive Officer
		
	By:	 	 /s/ Rafael Martins Pereira

		 	Name:	 	Rafael Martins Pereira
		 	Title:	 	IR Executive Officer
	
	THE SHAREHOLDERS:
	
	HR HOLDINGS LLC
		
	By:	 	 /s/ Eduardo Cunha Monnerat Solon de Pontes

		 	Name:	 	Eduardo Cunha Monnerat Solon de Pontes
		 	Title:	 	Director
	
	VCK INVESTMENT FUND LTD. SAC
		
	By:	 	 /s/ Bluebay Directors Limited

/s/ Blue Medallion Investments Ltd.

		 	 Name: Bluebay Directors Limited/Blue

Medallion Investments Ltd.

		 	Title: Director
	
	CAKUBRAN HOLDINGS LTD.
		
	By:	 	 /s/ Eduardo Cunha Monnerat Solon de Pontes

		 	Name:	 	 Eduardo Cunha Monnerat Solon de

Pontes

		 	Title:	 	Director

 EXHIBIT A 

JOINDER TO SHAREHOLDERS AGREEMENT 

This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the
“Joining Party”) in accordance with the Shareholders Agreement dated as of October     , 2018 (as amended, amended and restated or otherwise modified from time to time, the “Shareholders
Agreement”), as the same may be amended from time to time. Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in the Shareholders Agreement. 

The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed
to be a party to the Shareholders Agreement as of the date hereof and shall have all of the rights and obligations of a “Shareholder” thereunder as if it had executed the Shareholders Agreement. The Joining Party hereby ratifies, as of the
date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Shareholders Agreement. 
 IN WITNESS
WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 
 Date:
                         ,
                 
  

			
	[NAME OF JOINING PARTY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address for Notices:

  

			
	Acknowledged by:
	
	STONECO LTD.
		
	By:	 	  

		 	Name:
		 	Title:EX-10.11

 Exhibit 10.11 

REGISTRATION RIGHTS AGREEMENT 

 TABLE OF CONTENTS 

 
  

 

					
	 	  	PAGE	 
		
	ARTICLE 1	  			
	DEFINITIONS	  			
		
	 Section 1.01.  Defined Terms
	  	 	1	 
	 Section 1.02.  General Interpretive Principles
	  	 	4	 
		
	ARTICLE 2	  	 	 
	REGISTRATION RIGHTS	  	 	 
		
	 Section 2.01.  Registration
	  	 	4	 
	 Section 2.02.  Piggyback Registrations
	  	 	7	 
	 Section 2.03.  Selection of Underwriter(s)
	  	 	8	 
	 Section 2.04.  Registration Procedures
	  	 	8	 
	 Section 2.05.  Holdback Agreements
	  	 	11	 
	 Section 2.06.  Underwriting Agreement in Underwritten Offerings
	  	 	12	 
	 Section 2.07.  Registration Expenses Paid By Company
	  	 	12	 
	 Section 2.08.  Indemnification
	  	 	12	 
	 Section 2.09.  Reporting Requirements; Rule 144
	  	 	14	 
		
	ARTICLE 3	  	 	 
	MISCELLANEOUS	  	 	 
		
	 Section 3.01.  Term
	  	 	15	 
	 Section 3.02.  Notices
	  	 	15	 
	 Section 3.03.  Successors, Assigns and Transferees
	  	 	16	 
	 Section 3.04.  GOVERNING LAW; NO JURY TRIAL
	  	 	16	 
	 Section 3.05.  Specific Performance
	  	 	16	 
	 Section 3.06.  Headings
	  	 	17	 
	 Section 3.07.  Severability
	  	 	17	 
	 Section 3.08.  Amendment; Waiver
	  	 	17	 
	 Section 3.09.  Further Assurances
	  	 	17	 
	 Section 3.10.  Counterparts
	  	 	17	 

  
 i 

 REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT, dated as of October 29, 2018 (this “Agreement”), is by and between StoneCo Ltd., an
exempted company formed under the laws of the Cayman Islands (the “Company”), Cakubran Holdings Ltd., HR Holdings, LLC and VCK Investment Fund Limited SAC (the “Founding Shareholders”), Madrone Partners L.P. (the
“Institutional Shareholder”) and the Persons listed on Schedule 1 hereto (the “Management Shareholders”). 

W I T N E S E T H: 

WHEREAS, the Company is currently contemplating an underwritten initial public offering (“IPO”) of its Class A Common
Shares (as defined below); and 
 WHEREAS, the Company desires to grant registration rights to the Founding Shareholders, the Institutional
Shareholder and the Management Shareholders on the terms and conditions set out in this Agreement; 
 NOW, THEREFORE, in consideration of
the covenants and agreements contained herein, the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 Section 1.01.
Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 
 “Action” means
any demand, action, suit, countersuit, arbitration, inquiry, proceeding or investigation by or before any Governmental Authority or any federal, state, local, foreign or international arbitration or mediation tribunal. 

“Affiliate” in respect of a Person, means any other Person that, directly or indirectly, through one or more intermediaries,
controls, is controlled by, or is under common control with, such Person, and (i) in the case of a natural person, shall include, without limitation, such person’s spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and
sisters-in-law, whether by blood, marriage or adoption or anyone residing in such person’s home, a trust for the benefit of any of the foregoing, a company,
partnership or any natural person or entity wholly or jointly owned by any of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one
or more intermediaries, controls, is controlled by, or is under common control with, such entity. As used herein, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Agreement” has the meaning set forth in the preamble to this Agreement. 

“Business Day” means any day other than a Saturday, Sunday or a day on which banking institutions are authorized or obligated
by law to be closed in the Cayman Islands or New York, New York. 
 “Class A Common Shares” means the
Class A common shares, par value $0.000079365 per share, of the Company and any shares into which such Class A common shares may be converted. 

“Class B Common Shares” means the Class B common shares, par value $0.000079365 per share, of the
Company and any shares into which such Class B common shares may be converted. 
 “Company Notice” has the meaning set
forth in Section 2.01(a). 

 “Company Takedown Notice” has the meaning set forth in
Section 2.01(f). 
 “Demand Registration” has the meaning set forth in Section 2.01(a). 

“Eligible Holders” has the meaning set forth in Section 2.01(a). 

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

“FINRA” means the Financial Industry Regulatory Authority. 

“Founding Shareholders” has the meaning set forth in the preamble to this Agreement and shall include their successors, by
merger, acquisition, reorganization or otherwise. 
 “Governmental Authority” means any nation or government, any state,
municipality or other political subdivision thereof, and any entity, body, agency, commission, department, board, bureau, court, tribunal or other instrumentality, whether federal, state, local, domestic, foreign or multinational, exercising
executive, legislative, judicial, regulatory, administrative or other similar functions of, or pertaining to, government and any executive official thereof. 

“Holder” shall mean the Founding Shareholders, the Institutional Shareholder and the Management Shareholders or, in each
case, any of their Affiliates, so long as such Person holds any Registrable Securities or Class B Common Shares convertible into Registrable Securities, and any Person owning Registrable Securities or Class B Common Shares convertible into
Registrable Securities who is a permitted transferee of rights under Section 3.03. 
 “Initiating Holder” has the
meaning set forth in Section 2.01(a). 
 “Institutional Shareholder” has the meaning set forth in the preamble to this
Agreement and shall include their successors, by merger, acquisition, reorganization or otherwise. 
 “IPO” has the meaning
set forth in the recitals to this Agreement. 
 “Loss” or “Losses” has the meaning set forth in
Section 2.08(a). 
 “Management Shareholders” has the meaning set forth in the preamble to this Agreement. 

“Person” means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated
organization, a limited liability entity, any other entity and any Governmental Authority, 
 “Piggyback Registration” has
the meaning set forth in Section 2.02(a). 
 “Prospectus” means the prospectus included in any Registration Statement,
all amendments and supplements to such prospectus, including post-effective amendments, and all other material incorporated by reference in such prospectus. 

“Registrable Securities” means any Shares and any securities issued or issuable directly or indirectly with respect to, in
exchange for, upon the conversion of or in replacement of the Shares, whether by way of a dividend or distribution or stock split or in connection with a combination of shares, recapitalization, merger, consolidation, exchange or other
reorganization; provided that any such Shares shall cease to be Registrable Securities if (i) they have been registered and sold pursuant to an effective Registration Statement, (ii) they have been transferred by a Holder in a
transaction in which the Holder’s rights under this Agreement are not, or cannot be, assigned, (iii) they may be sold pursuant to Rule 144 under the Securities Act without limitation thereunder on volume or manner of sale and the Holder of
such securities does not then beneficially own more than 3% of outstanding common shares, or (iv) they have ceased to be outstanding. 

  
 2 

 “Registration” means a registration with the SEC of the offer and sale to
the public of Class A Common Shares under a Registration Statement. The terms “Register,” “Registered” and “Registering” shall have a correlative meaning. 

“Registration Expenses” shall mean all expenses incident to the Company’s performance of or compliance with this
Agreement, including all (i) registration, qualification and filing fees; (ii) expenses incurred in connection with the preparation, printing and filing under the Securities Act of the Registration Statement, any Prospectus and any issuer
free writing prospectus and the distribution thereof; (iii) the fees and expenses of the Company’s counsel and independent accountants; (iv) the fees and expenses incurred in connection with the registration or qualification and
determination of eligibility for investment of the Shares under the state or foreign securities or blue sky laws and the preparation, printing and distribution of a blue sky or legal investment memorandum (including the related fees and expenses of
counsel); (v) the costs and charges of any transfer agent and any registrar; (vii) all expenses and application fees incurred in connection with any filing with, and clearance of an offering by, FINRA; (vii) expenses incurred in connection
with any “road show” presentation to potential investors; (viii) printing expenses, messenger, telephone and delivery expenses; (ix) internal expenses of the Company (including all salaries and expenses of employees of the
Company performing legal or accounting duties); and (x) fees and expenses of listing any Registrable Securities on any securities exchange on which Class A Common Shares are then listed; but excluding any Selling Expenses. 

“Registration Period” has the meaning set forth in Section 2.01(c). 

“Registration Rights” shall mean the rights of the Holders to cause the Company to Register Registrable Securities pursuant
to this Agreement. 
 “Registration Statement” means any registration statement of the Company filed with, or to be filed
with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all material
incorporated by reference in such registration statement. 
 “SEC” means the U.S. Securities and Exchange Commission. 

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

“Selling Expenses” means all underwriting discounts, selling commissions and transfer taxes applicable to the sale of
Registrable Securities hereunder. 
 “Shares” means all Class A Common Shares that are beneficially owned by the
Founding Shareholders, the Institutional Shareholder and the Management Shareholders or, in each case, any of their Affiliates or any permitted transferee of rights under Section 3.03 from time to time, whether or not held immediately following
the IPO. 
 “Shelf Registration” means a Registration Statement of the Company for an offering to be made on a delayed or
continuous basis of Class A Common Shares pursuant to Rule 415 under the Securities Act (or similar provisions then in effect). 

“Subsidiary” means, when used with respect to any Person, (a) a corporation in which such Person or one or more
Subsidiaries of such Person, directly or indirectly, owns capital stock having a majority of the total voting power in the election of directors of all outstanding shares of all classes and series of capital stock of such corporation entitled
generally to vote in such election; and (b) any other Person (other than a corporation) in which such Person or one or more Subsidiaries of such Person, directly or indirectly, has (i) a majority ownership interest or (ii) the power
to elect or direct the election of a majority of the members of the governing body of such first-named Person. 
 “Takedown
Notice” has the meaning set forth in Section 2.01(f). 

  
 3 

 “Underwritten Offering” means a Registration in which securities of the
Company are sold to an underwriter or underwriters on a firm commitment basis for reoffering to the public. 
 Section 1.02. General
Interpretive Principles. Whenever used in this Agreement, except as otherwise expressly provided or unless the context otherwise requires, any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all
genders. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” Unless otherwise
specified, the terms “hereof,” “herein,” “hereunder” and similar terms refer to this Agreement as a whole (including the exhibits hereto), and references herein to Articles and Sections refer to
Articles and Sections of this Agreement. Except as otherwise indicated, all periods of time referred to herein shall include all Saturdays, Sundays and holidays; provided, however, that if the date to perform the act or give any notice
with respect to this Agreement shall fall on a day other than a Business Day, such act or notice may be performed or given timely if performed or given on the next succeeding Business Day. References to a Person are also to its permitted successors
and assigns. The parties have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

ARTICLE 2 
 REGISTRATION RIGHTS

 Section 2.01. Registration. 

(a) Request. The Founding Shareholders and the Institutional Shareholder shall each have the right to request that the Company file a
Registration Statement with the SEC on the appropriate registration form for all or part of the Registrable Securities held (or that would be held upon conversion of Class B Common Shares into Registrable Securities) by such Holder once such
Holder is no longer subject to the lock-up applicable to it entered into in connection with the IPO (which may be due to the expiration or waiver of such lock-up with
respect to such Registrable Securities) by delivering a written request to the Company specifying the kind and number of shares of Registrable Securities such Holder wishes to Register and the intended method of distribution thereof (a
“Demand Registration” and the Holder submitting such Demand Registration, the “Initiating Holder”). The Company shall (i) within 10 days of the receipt of such request, give written notice of such Demand
Registration (the “Company Notice”) to all Holders other than the relevant Initiating Holder (the “Eligible Holders”), (ii) use its reasonable best efforts to file a Registration Statement in respect of such Demand
Registration within 45 days of receipt of the request, and (iii) use its reasonable best efforts to cause such Registration Statement to become effective as soon as reasonably practicable thereafter. The Company shall include in such
Registration all Registrable Securities that the Eligible Holders request to be included within the 10 Business Days following their receipt of the Company Notice. 

(b) Limitations of Demand Registrations. There shall be no limitation on the number of Demand Registrations pursuant to
Section 2.01(a); provided, however, that (i) the Founding Shareholders shall not require the Company to effect more than three Demand Registrations collectively in a 12-month period and
(ii) the Institutional Shareholder shall not require the Company to effect more than one Demand Registration in a 12-month period. In the event that any Person shall have received rights to Demand
Registrations pursuant to Section 3.03, and such Person shall have made a Demand Registration request, such request shall be treated as having been made by the Holder who transferred such rights to such Person. The Registrable Securities
requested to be Registered pursuant to Section 2.01(a) (including, for the avoidance of doubt, the Registrable Securities of Eligible Holders requested to be registered) must represent (i) an aggregate offering price of Registrable
Securities that is reasonably expected to equal at least $25,000,000 or (ii) all of the remaining Registrable Securities owned by the Initiating Holder and its Affiliates or that would be owned upon conversion of all of the Class B Common
Shares held by the Initiating Holder and its Affiliates into Class A Common Shares. 

  
 4 

 (c) Effective Registration. The Company shall be deemed to have effected a
Registration for purposes of Section 2.01(b) if the Registration Statement is declared effective by the SEC or becomes effective upon filing with the SEC, and remains effective until the earlier of (i) the date when all Registrable
Securities thereunder have been sold and (ii) 60 days from the effective date of the Registration Statement (the “Registration Period”). No Registration shall be deemed to have been effective if (i) the conditions to closing
specified in the underwriting agreement, if any, entered into in connection with such Registration are not satisfied by reason of the Company or (ii) the number of Registrable Securities included in any such Registration Statement is reduced in
accordance with Section 2.01(e) such that less than 25% of the aggregate number of Registrable Securities requested to be Registered pursuant to Section 2.01(a) are included. If, during the Registration Period, such Registration is
interfered with by any stop order, injunction or other order or requirement of the SEC or other Governmental Authority, the Registration Period shall be extended on a
day-for-day basis for any period the Holder is unable to complete an offering as a result of such stop order, injunction or other order or requirement of the SEC or
other Governmental Authority. 
 (d) Underwritten Offering. If the Initiating Holder so indicates at the time of its request pursuant
to Section 2.01(a), such offering of Registrable Securities shall be in the form of an Underwritten Offering and the Company shall include such information in the Company Notice. In the event that the Initiating Holder intends to distribute the
Registrable Securities by means of an Underwritten Offering, no Holder may include Registrable Securities in such Registration unless such Holder, subject to the limitations set forth in Section 2.06, (i) agrees to sell its Registrable
Securities on the basis provided in the applicable underwriting arrangements; (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of
such underwriting arrangements and (iii) cooperates with the Company’s reasonable requests in connection with such Registration (it being understood that the Company’s failure to perform its obligations hereunder, which failure is
caused by such Holder’s failure to cooperate, will not constitute a breach by the Company of this Agreement). 
 (e) Priority of
Securities in an Underwritten Offering. If the Company, after consultation with the managing underwriter or underwriters of a proposed Underwritten Offering, including an Underwritten Offering from a Shelf Registration, pursuant to this
Section 2.01, determines in its sole discretion that the number of securities requested to be included in such Underwritten Offering exceeds the number that can be sold in such Underwritten Offering without being likely to have a significant
adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the number of securities to be included in such Underwritten Offering shall be reduced in the following order of priority:
first, there shall be excluded from the Underwritten Offering any securities to be sold for the account of any selling securityholder other than the Initiating Holder and the Eligible Holders; second, there shall be excluded from the
Underwritten Offering any securities to be sold for the account of the Company; third, there shall be excluded from the Underwritten Offering any securities to be sold for the account of the Eligible Holders and their Affiliates that have
been requested to be included therein, pro rata based on the number of Registrable Securities and Class B Common Shares convertible into Registrable Securities owned by each such Eligible Holder; and finally, there shall be
excluded from the Underwritten Offering any securities to be sold for the account of the Initiating Holder and its Affiliates that have been requested to be included therein, in each case to the extent necessary to reduce the total number of
securities to be included in such offering to the number determined by the Company after consultation with the managing underwriter or underwriters. 

(f) Shelf Registration. At any time after the date hereof when the Company is eligible to Register the applicable Registrable Securities
on Form F-3 (or a successor form) and an Initiating Holder is entitled to request Demand Registrations, such Initiating Holder may request the Company to effect a Demand Registration as a Shelf Registration.
For the avoidance of doubt, the requirement that (i) the Company deliver a Company Notice in connection with a Demand Registration and (ii) the right of Eligible Holders to request that their Registrable Securities be included in a
Registration Statement filed in connection with a Demand Registration, each as set forth in Section 2.01(a), shall apply to a Demand Registration that is effected as Shelf Registration. There shall be no limitations on the number of
Underwritten Offerings pursuant to a Shelf Registration; provided, however, that (i) the Founding Shareholder may not require the 

  
 5 

 
Company to effect more than three Underwritten Offerings collectively in a 12-month period and (ii) the Institutional Shareholder may not require the
Company to effect more than one Underwritten Offering in a 12-month period. If any Initiating Holder holds Registrable Securities included on a Shelf Registration, or Class B Common Shares convertible
into Registrable Securities included on a Shelf Registration, it shall have the right to request that the Company cooperate in a shelf takedown at any time, including an Underwritten Offering, by delivering a written request thereof to the Company
specifying the kind and number of shares of Registrable Securities such Initiating Holder wishes to include in the shelf takedown (“Takedown Notice”). The Company shall (i) within five days of the receipt of a Takedown Notice,
give written notice of such Takedown Notice to all Holders of Registrable Securities or Class B Common Shares convertible into Registrable Securities included on such Shelf Registration (the “Company Takedown Notice”), and
(ii) shall take all actions reasonably requested by the Initiating Holder who submitted the Takedown Notice, including the filing of a Prospectus supplement and the other actions described in Section 2.04, in accordance with the intended
method of distribution set forth in the Takedown Notice as expeditiously as practicable. If the takedown is an Underwritten Offering, the Company shall include in such Underwritten Offering all Registrable Securities that the Holders of Registrable
Securities (or Class B Common Shares convertible into Registrable Securities) included in the Registration Statement for such Shelf Registration, request be included within the five Business Days following such Holders’ receipt of the
Company Takedown Notice. If the takedown is an Underwritten Offering, the Registrable Securities requested to be included in a shelf takedown must represent (i) an aggregate offering price of Registrable Securities that is reasonably expected
to equal at least $25,000,000 or (ii) all of the remaining Registrable Securities owned by the requesting Initiating Holder and its Affiliates or that would be owned upon conversion of all of the Class B Common Shares held by the
requesting Initiating Holder and its Affiliates into Class A Common Shares. 
 (g) SEC Form. Except as set forth in the next
sentence, the Company shall use its reasonable best efforts to cause Demand Registrations to be Registered on Form F-3 (or any successor form), and if the Company is not then eligible under the Securities Act
to use Form F-3, Demand Registrations shall be Registered on Form F-1 (or any successor form). The Company shall use its reasonable best efforts to become eligible to
use Form F-3 and, after becoming eligible to use Form F-3, shall use its reasonable best efforts to remain so eligible. All Demand Registrations shall comply with
applicable requirements of the Securities Act and, together with each Prospectus included, filed or otherwise furnished by the Company in connection therewith, shall not contain any untrue statement of material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading. 
 (h) Postponement. Upon notice to, in the
case of a Demand Registration, the Initiating Holder for such Demand Registration and any other Eligible Holders or, in the case of a shelf takedown, the Initiating Holder or Holders requesting such shelf takedown and any other Holders to which a
Company Takedown Notice has been delivered with respect to such shelf takedown, the Company may postpone effecting a Registration or shelf takedown, as applicable, pursuant to this Section 2.01 on two occasions during any period of six
consecutive months for a reasonable time specified in the notice but not exceeding 120 days (which period may not be extended or renewed), if (i) the Company reasonably believes that effecting the Registration or shelf takedown, as applicable,
would materially and adversely affect a proposal or plan by the Company to engage in (directly or indirectly through any of its Subsidiaries): (x) a material acquisition or divestiture of assets; (y) a merger, consolidation, tender offer,
reorganization, primary offering of the Company’s securities or similar material transaction; or (z) a material financing or any other material business transaction with a third party or (ii) the Company is in possession of material non-public information the disclosure of which during the period specified in such notice the Company reasonably believes would not be in the best interests of the Company. 

(i) Right to Withdraw. Unless otherwise agreed, each Holder shall have the right to withdraw such Holder’s request for inclusion of
its Registrable Securities in any Underwritten Offering pursuant to this Section 2.01 at any time prior to the execution of an underwriting agreement with respect thereto by giving written notice to the Company of such Holder’s request to
withdrawn and, subject to the preceding clause, each Holder shall be permitted to withdraw all or part of such Holder’s Registrable Securities from a Demand Registration at any time prior to the effective date thereof. 

  
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 Section 2.02. Piggyback Registrations. 

(a) Participation. If the Company proposes to file a Registration Statement under the Securities Act with respect to any offering of
Class A Common Shares for its own account and/or for the account of any other Persons (other than a Registration (i) under Section 2.01 hereof, (ii) pursuant to a Registration Statement on Form
S-8 (or other registration solely relating to an offering or sale to employees or directors of the Company pursuant to any employee stock plan or other employee benefit arrangement) or Form F-4 or similar form that relates to a transaction subject to Rule 145 under the Securities Act, (iii) in connection with any dividend reinvestment or similar plan or (iv) for the sole purpose of offering
securities to another entity or its security holders in connection with the acquisition of assets or securities of such entity or any similar transaction), then, as soon as practicable (but in no event less than 5 days prior to the proposed date of
filing such Registration Statement), the Company shall give written notice of such proposed filing to each Holder, and such notice shall offer such Holders the opportunity to Register under such Registration Statement such number of Registrable
Securities as each such Holder may request in writing (a “Piggyback Registration”). Subject to Section 2.02(a) and Section 2.02(c), the Company shall include in such Registration Statement all such Registrable Securities
that are requested to be included therein within seven Business Days after the receipt of any such notice; provided, however, that if, at any time after giving written notice of its intention to Register any securities pursuant to this
Section 2.02(a) and prior to the effective date of the Registration Statement filed in connection with such Registration, the Company shall determine for any reason not to Register or to delay Registration of such securities, the Company may,
at its election, give written notice of such determination to each such Holder and, thereupon, (i) in the case of a determination not to Register, shall be relieved of its obligation to Register any Registrable Securities in connection with
such Registration and shall have no liability to any Holder in connection with such termination, and (ii) in the case of a determination to delay Registration, shall be permitted to delay Registering any Registrable Securities for the
same period as the delay in Registering such other Class A Common Shares, in each case without prejudice, however, to the rights of any Holder to request that such Registration be effected as a Demand Registration under Section 2.01. For
the avoidance of doubt. no Registration effected under this Section 2.02 shall relieve the Company of its obligation to effect any Demand Registration under Section 2.01. If the offering pursuant to a Registration Statement pursuant to
this Section 2.02 is to be an Underwritten Offering, then each Holder making a request for a Piggyback Registration pursuant to this Section 2.02(a) shall, and the Company shall use reasonable best efforts to coordinate arrangements with
the underwriters so that each such Holder may, participate in such Underwritten Offering. If the offering pursuant to such Registration Statement is to be on any other basis, then each Holder making a request for a Piggyback Registration pursuant to
this Section 2.02(a) shall, and the Company shall use reasonable best efforts to coordinate arrangements so that each such Holder may, participate in such offering on such basis. If the Company files a Shelf Registration for its own account
and/or for the account of any other Persons, the Company agrees that it shall use its reasonable best efforts to include in such Registration Statement such disclosures as may be required by Rule 430B under the Securities Act in order to ensure that
the Holders may be added to such Shelf Registration at a later time through the filing of a Prospectus supplement rather than a post-effective amendment. 

(b) Right to Withdraw. Unless otherwise agreed, each Holder shall have the right to withdraw such Holder’s request for inclusion of
its Registrable Securities in any Underwritten Offering pursuant to this Section 2.02 at any time prior to the execution of an underwriting agreement with respect thereto by giving written notice to the Company of such Holder’s request to
withdraw and, subject to the preceding clause, each Holder shall be permitted to withdraw all or part of such Holder’s Registrable Securities from a Piggyback Registration at any time prior to the effective date thereof. 

(c) Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of
Registrable Securities included in a Piggyback Registration informs the Company and the Holders in writing that, in its or their opinion, the number of securities of such class which such Holder and any other Persons intend to include in such
Underwritten Offering exceeds the number which can be sold in such Underwritten Offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities
offered, then the securities to be included in such Underwritten Offering shall be reduced in the following order of priority: first, there shall be excluded from the Underwritten Offering any securities to be sold for the

  
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account of any selling securityholder other than the Holders; and second, there shall be excluded from the Underwritten Offering any securities to be sold for the account of Holders and
their Affiliates that have been requested to be included therein, pro rata based on the number of Registrable Securities and Class B Common Shares convertible into Registrable Securities owned by each such Holder, in each case to the
extent necessary to reduce the total number of securities to be included in such offering to the number recommended by the managing underwriter or underwriters. 

Section 2.03. Selection of Underwriter(s). In any Underwritten Offering pursuant to Section 2.01, the Company shall select
the underwriter(s). The Company may consult with the Initiating Holder in the selection of such underwriter(s), provided that the Company shall be under no obligation to the Initiating Holder as a result of or in connection with such consultation.

 Section 2.04. Registration Procedures. 

(a) In connection with the Registration and/or sale of Registrable Securities pursuant to this Agreement, through an Underwritten Offering or
otherwise, the Company shall use reasonable best efforts to effect or cause the Registration and the sale of such Registrable Securities in accordance with the intended methods of disposition thereof and: 

(i) prepare and file the required Registration Statement, including all exhibits and financial statements required under the
Securities Act to be filed therewith, and before filing with the SEC a Registration Statement or Prospectus, or any amendments or supplements thereto, (A) furnish to the underwriters, if any, and to the Holders participating in such
Registration, copies of all documents prepared to be filed, which documents will be subject to the review of such underwriters and such participating Holders and their respective counsel, and (B) consider in good faith any comments of the
underwriters and Holders and their respective counsel on such documents; 
 (ii) prepare and file with the SEC such
amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective in accordance with the terms of this Agreement and to comply with the
provisions of the Securities Act with respect to the disposition of all of the Shares Registered thereon; 
 (iii) in the
case of a Shelf Registration, prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to
comply with the provisions of the Securities Act with respect to the disposition of all Shares subject thereto for a period ending on the 3rd anniversary after the effective date of such
Registration Statement; 
 (iv) notify the participating Holders and the managing underwriter or underwriters, if any, and
(if requested) confirm such advice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (A) when the applicable Registration Statement or any amendment
thereto has been filed or becomes effective, or when the applicable Prospectus or any amendment or supplement to such Prospectus has been filed, (B) of any written comments by the SEC or any request by the SEC or any other Governmental
Authority for amendments or supplements to such Registration Statement or such Prospectus or for additional information, (C) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order
preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for such purposes, (D) if, at any time, the representations and warranties of the Company in any applicable underwriting
agreement cease to be true and correct in all material respects, and (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any
jurisdiction or the initiation or threatening of any proceeding for such purpose; 

  
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 (v) promptly notify each selling Holder and the managing underwriter or
underwriters, if any, when the Company becomes aware of the occurrence of any event as a result of which the applicable Registration Statement or the Prospectus included in such Registration Statement (as then in effect) contains any untrue
statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) not misleading or, if
for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter,
prepare and file with the SEC, and furnish without charge to the selling Holder and the managing underwriter or underwriters, if any, an amendment or supplement to such Registration Statement or Prospectus which will correct such statement or
omission or effect such compliance; 
 (vi) use its reasonable best efforts to prevent or obtain the withdrawal of any stop
order or other order suspending the use of any preliminary or final Prospectus; 
 (vii) promptly incorporate in a Prospectus
supplement or post-effective amendment such information as the managing underwriters, if any, and the Holders may reasonably request to be included therein in order to permit the intended method of distribution of the Registrable Securities; and
make all required filings of such Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(viii) furnish to each selling Holder and each underwriter, if any, without charge, as many conformed copies as such Holder or
underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits
(including those incorporated by reference); 
 (ix) deliver to each selling Holder and each underwriter, if any, without
charge, as many copies of the applicable Prospectus (including each preliminary Prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being understood that the Company consents to the use of
such Prospectus or any amendment or supplement thereto by each selling Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement thereto) and
such other documents as such selling Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter; 

(x) on or prior to the date on which the applicable Registration Statement is declared effective or becomes effective, use its
reasonable best efforts to register or qualify, and cooperate with each selling Holder, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the registration or qualification of such Registrable
Securities for offer and sale under the securities or “blue sky” laws of each state and other jurisdiction of the United States as any selling Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably
request in writing and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for so long as such Registration Statement remains in effect and so as to permit the continuance of
sales and dealings in such jurisdictions of the United States for so long as may be necessary to complete the distribution of the Registrable Securities covered by the Registration Statement; provided that the Company will not be required to
qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject; 

(xi) in connection with any sale of Registrable Securities that will result in such securities no longer being Registrable
Securities, cooperate with each selling Holder and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive
Securities Act legends; and to register such Registrable Securities in such denominations and such names as such selling Holder or the underwriter(s), if any, may request at least two Business Days prior to such sale of Registrable Securities;
provided that the Company may satisfy its obligations hereunder without issuing physical stock certificates through the use of The Depository Trust Company’s Direct Registration System; 

  
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 (xii) cooperate and assist in any filings required to be made with the FINRA
and each securities exchange, if any, on which any of the Company’s securities are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s securities are then quoted, and in the performance of any due
diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and regulations of each such exchange, and use its reasonable best efforts to cause
the Registrable Securities covered by the applicable Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or
underwriters, if any, to consummate the disposition of such Registrable Securities; 
 (xiii) not later than the effective
date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities and provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The
Depository Trust Company; provided that the Company may satisfy its obligations hereunder without issuing physical stock certificates through the use of The Depository Trust Company’s Direct Registration System; 

(xiv) in the case of an Underwritten Offering, obtain for delivery to and addressed to the selling Holders and the underwriter
or underwriters, an opinion from the Company’s outside counsel in customary form and content for the type of Underwritten Offering, dated the date of the closing under the underwriting agreement; 

(xv) in the case of an Underwritten Offering, obtain for delivery to and addressed to the underwriter or underwriters and, to
the extent agreed by the Company’s independent certified public accountants, each selling Holder, a comfort letter from the Company’s independent certified public accountants (and the independent certified public accountants with respect
to any acquired company financial statements) in customary form and content for the type of Underwritten Offering, including with comfort letters customarily delivered in connection with quarterly period financial statements if applicable, dated the
date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement; 
 (xvi)
use its reasonable best efforts to comply with all applicable rules and regulations of the SEC and make generally available to its security holders, as soon as reasonably practicable, but no later than 90 days after the end of the 12-month period beginning with the first day of the Company’s first quarter commencing after the effective date of the applicable Registration Statement, an earnings statement satisfying the provisions of
Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder and covering the period of at least 12 months, but not more than 18 months, beginning with the first month after the effective date of the Registration
Statement; 
 (xvii) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered
by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement; 

(xviii) cause all Registrable Securities covered by the applicable Registration Statement to be listed on each securities
exchange on which any of the Company’s Class A Common Shares are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s Class A Common Shares are then quoted, including the filing of any
required supplemental listing application; 
 (xix) provide (A) each Holder participating in the Registration,
(B) the underwriters (which term, for purposes of this Agreement, shall include a Person deemed to be an underwriter within the meaning of Section 2(11) of the Securities Act), if any, of the Registrable Securities to be Registered,
(C) the sale or placement agent therefor, if any, (D) counsel for such underwriters or agent, and (E) any attorney, accountant or other agent or representative retained by such Holder or any such underwriter, as selected by such
Holder, the opportunity to participate in the preparation of such Registration 

  
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Statement, each Prospectus included therein or filed with the SEC, and each amendment or supplement thereto, and to require the insertion therein of material, furnished to the Company in writing,
which in the reasonable judgment of such Holder(s) and their counsel should be included; and for a reasonable period prior to the filing of such Registration Statement, make available upon reasonable notice at reasonable times and for reasonable
periods for inspection by the parties referred to in (A) through (E) above, all pertinent financial and other records, pertinent corporate documents and properties of the Company that are available to the Company, and cause the Company’s
officers, employees and the independent public accountants who have certified its financial statements to make themselves available at reasonable times and for reasonable periods, to discuss the business of the Company and to supply all information
available to the Company reasonably requested by any such Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility, subject to the foregoing, provided that any
such Person gaining access to information or personnel pursuant to this Section 2.04(a)(xix) shall agree to use reasonable efforts to protect the confidentiality of any information regarding the Company which the Company determines in good
faith to be confidential, and of which determination such Person is notified, unless (x) the release of such information is required by law or regulation or is requested or required by deposition, interrogatory, requests for information or
documents by a governmental entity, subpoena or similar process, (y) such information is or becomes publicly known without a breach of this Agreement, (F) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company or (z) such information is independently developed by such Person; 

(xx) to cause the 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 Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related
thereto; and 
 (xxi) take all other customary steps reasonably necessary to effect the Registration, offering and sale of
the Registrable Securities. 
 (b) As a condition precedent to any Registration hereunder, the Company may require each Holder as to which
any Registration is being effected to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Holder, its ownership of Registrable Securities and other matters as the Company
may from time to time reasonably request in writing. Each such Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions of this Agreement.

 (c) Each Holder agrees that, upon receipt of any written notice from the Company of the occurrence of any event of the kind described in
Section 2.04(a)(v), such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 2.04(a)(v), or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and if so directed by the Company, such Holder will deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company shall give any such notice, the period during
which the applicable Registration Statement for a Demand Registration is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date
when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus contemplated by Section 2.04(a)(v) or is advised in writing by the Company that the use of
the Prospectus may be resumed. 
 Section 2.05. Holdback Agreements. Each of the Company and the Holders agrees, upon notice
from the managing underwriter or underwriters in connection with any Registration for an Underwritten Offering of the Company’s securities (other than pursuant to a registration statement on Form F-4 or
any similar or successor form or pursuant to a registration solely relating to an offering and sale to employees or directors of the Company pursuant to any employee stock plan or other employee benefit plan arrangement), not to

  
 11 

 
effect (other than pursuant to such Registration) any public sale or distribution of Registrable Securities, including, but not limited to, any sale pursuant to Rule 144, or make any short sale
of, loan, grant any option for the purchase of, or otherwise dispose of, any Registrable Securities, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the
Company without the prior written consent of the managing underwriters during such period as reasonably requested by the managing underwriters (but in no event longer than the seven days before and the 180 days after the pricing of such Underwritten
Offering); and subject to reasonable and customary exceptions to be agreed with such managing underwriter or underwriters. Notwithstanding the foregoing, no holdback agreements of the type contemplated by this Section 2.05 shall be required of
Holders unless each of the Company’s directors and executive officers agrees to be bound by a substantially identical holdback agreement for at least the same period of time. 

Section 2.06. Underwriting Agreement in Underwritten Offerings. If requested by the managing underwriters for any Underwritten
Offering, the Company and the participating Holders shall enter into an underwriting agreement in customary form with such underwriters for such offering; provided, however, that no Holder shall be required to make any representations
or warranties to the Company or the underwriters (other than representations and warranties regarding (i) such Holder’s ownership of Registrable Securities to be transferred free and clear of all liens, claims and encumbrances created by
such Holder, (ii) such Holder’s power and authority to effect such transfer, (iii) such matters pertaining to such Holder’s compliance with securities laws as reasonably may be requested and (iv) such Holder’s intended
method of distribution) or to undertake any indemnification obligations to the Company with respect thereto, except as otherwise provided in Section 2.08 hereof. 

Section 2.07. Registration Expenses Paid By Company. In the case of any Registration of Registrable Securities required pursuant
to this Agreement (including any Registration that is delayed or withdrawn) or proposed Underwritten Offering pursuant to this Agreement, the Company shall pay all Registration Expenses regardless of whether the Registration Statement becomes
effective or the Underwritten Offering is completed. The Company shall have no obligation to pay any Selling Expenses for Registrable Securities offered by any Holders. 

Section 2.08. Indemnification. 

(a) Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each
Holder and such Holder’s officers, directors, employees, advisors, Affiliates and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Holder from and against any and all losses, claims,
damages, liabilities (or actions in respect thereof, whether or not such indemnified party is a party thereto) and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and
collectively “Losses”) arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was Registered under
the Securities Act (including any final or preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made in any free writing prospectus (as
defined in Rule 405 under the Securities Act) that the Company has filed or is required to file pursuant to Rule 433(d) of the Securities Act, or (ii) any omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading; provided, however, that the
Company shall not be liable to any particular indemnified party in any such case to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any such
Registration Statement in reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof. This indemnity shall be in addition to any liability the Company may
otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder. 

  
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 (b) Indemnification by the Selling Holder. Each selling Holder agrees (severally and
not jointly) to indemnify and hold harmless, to the full extent permitted by law, the Company and the Company’s directors, officers, employees, advisors, Affiliates and agents and each Person who controls the Company (within the meaning of the
Securities Act and the Exchange Act) from and against any Losses arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable
Securities was Registered under the Securities Act (including any final or preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made in any
free writing prospectus that the Company has filed or is required to file pursuant to Rule 433(d) of the Securities Act, or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading but only to the extent, in each of cases (i) or (ii), that
such untrue statement or omission is contained in any information furnished in writing by such selling Holder to the Company expressly for inclusion in such Registration Statement, Prospectus, preliminary Prospectus or free writing prospectus. In no
event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder under the sale of the Registrable Securities giving rise to such indemnification obligation. This
indemnity shall be in addition to any liability the selling Holder may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any indemnified party. 

(c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder will (i) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder to the extent that it
is materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, however, that any
Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless
(a) the indemnifying party has agreed in writing to pay such fees or expenses, (b) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person
entitled to indemnification hereunder, (c) the named parties to any proceeding include both such indemnified and the indemnifying party and the indemnified party has reasonably concluded (based on written advice of counsel) that there may be
legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (d) in the reasonable judgment of any such Person, based upon written advice of its counsel, a
conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of
the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any
liability for any settlement made without its consent, but such consent may not be unreasonably withheld, conditioned or delayed. If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action
without the consent of the indemnified party, which consent may not be unreasonably withheld, conditioned or delayed. No indemnifying party shall consent to entry of any judgment or enter into any settlement without the consent of the indemnified
party which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation. It is understood that the
indemnifying party or parties shall not, in connection with any proceeding or related 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 separate
firm (in addition to any appropriate local counsel) at any one time from all such indemnified party or parties unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an
indemnified party has reasonably concluded (based on written advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or
potential conflict exists or in the reasonable judgment of such indemnified party may exist (based on advice of counsel to an indemnified party) between such indemnified party or parties and the other indemnified parties, in each of which cases the
indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel. 

  
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 (d) Contribution. If for any reason the indemnification provided for in
Section 2.08(a) or Section 2.08(b) is unavailable to an indemnified party or insufficient to hold it harmless as contemplated by Section 2.08(a) or Section 2.08(b), then the indemnifying party shall, to the fullest extent
permitted by law, in lieu of indemnifying such indemnified party thereunder, contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well as any other relevant equitable considerations. The relative fault shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. Notwithstanding anything in this Section 2.08(d) to the contrary, no indemnifying party (other than
the Company) shall be required pursuant to this Section 2.08(d) to contribute any amount in excess of the amount by which the net proceeds received by such indemnifying party from the sale of Registrable Securities in the offering to which the
Losses of the indemnified parties relate (before deducting expenses, if any) exceeds the amount of any damages which such indemnifying party has otherwise been required to pay by reason of such untrue statement or omission. The parties hereto agree
that it would not be just and equitable if contribution pursuant to this Section 2.08(d) 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 this Section 2.08(d). 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. The amount paid or payable by an indemnified party hereunder shall be deemed to include, for purposes of this Section 2.08(d), any legal or other expenses reasonably incurred by such indemnified party in connection with
investigating, preparing to defend or defending against or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding. If
indemnification is available under this Section 2.08, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Section 2.08(a) and Section 2.08(b) hereof without regard to the relative fault of
said indemnifying parties or indemnified party. 
 Section 2.09. Reporting Requirements; Rule 144. Following the IPO, the
Company shall use its reasonable best efforts to be and remain in compliance with the periodic filing requirements imposed under the SEC’s rules and regulations, including the Exchange Act, and thereafter shall timely file such information,
documents and reports as the SEC may require or prescribe under Section 13 or 15(d) (whichever is applicable) of the Exchange Act. If the Company is not required to file such reports during such period, it will, upon the request of any Holder,
make publicly available such necessary information for so long as necessary to permit sales pursuant to Rule 144 or Regulation S under the Securities Act, and it will take such further action as any Holder may reasonably request, all to the extent
required from time to time to enable such Holder to sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 or Regulation S under the Securities Act, as such
Rules may be amended from time to time, or (b) any rule or regulation hereafter adopted by the SEC. From and after the date hereof through the date upon which no Holder owns any Registrable Securities or Class B Common Shares convertible
into Registrable Securities, the Company shall forthwith upon request furnish any Holder (i) a written statement by the Company as to whether it has complied with such requirements and, if not, the specifics thereof, (ii) a copy of the
most recent annual or quarterly report of the Company, and (iii) such other reports and documents filed by the Company with the SEC as such Holder may reasonably request in availing itself of an exemption for the sale of Registrable Securities
without registration under the Securities Act. 
 Section 2.10. Limitations on Subsequent Registration Rights. The Company
agrees that it shall not enter into any agreement with any holder or prospective holder of any securities of the Company (i) that would allow such holder or prospective holder to include such securities in any Demand Registration or Piggyback
Registration unless, under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that their inclusion would not reduce the amount of the Registrable Securities of the
Holders included therein or (ii) on terms otherwise more favorable than this Agreement. 

  
 14 

 ARTICLE 3 

MISCELLANEOUS 
 Section 3.01.
Term. This Agreement shall terminate at such time as there are no Registrable Securities or Class B Common Shares convertible into Registrable Securities, except for the provisions of Section 2.07 and Section 2.08 and all of
this Article 3, which shall survive any such termination. 
 Section 3.02. Notices. All notices or other communications under
this Agreement shall be in writing and shall be deemed to be duly given when (a) delivered in person or (b) deposited in the United States mail or private express mail, postage prepaid, addressed as follows: 

If to a Founding Shareholder, to its address as set forth below: 

Cakubran Holdings Ltd. 

André Street 
 Rua
Fidêncio Ramos, 308, 10th floor, São Paulo, Brazil 
 Attention: Daniela Mastrorocco 

HR Holdings, LLC 
 André
Street 
 Rua Fidêncio Ramos, 308, 10th floor, São Paulo, Brazil 

Attention: Daniela Mastrorocco 

VCK Investment Fund Limited 

André Street 
 Rua
Fidêncio Ramos, 308, 10th floor, São Paulo, Brazil 
 Attention: Daniela Mastrorocco 

If to an Institutional Shareholder, to its address as set forth below: 

Madrone Partners L.P. 
 1149
Chestnut Street, Suite 200 
 Menlo Park, CA 94025 

Attention: Legal Department 
 If
to a Management Shareholder to: 
 c/o StoneCo Ltd. 

R. Fidêncio Ramos, 308, 10th floor 

Vila Olímpia, São Paulo, SP, Brazil 

04551-010 

Attention: Legal Department 
 If
to the Company to: 
 StoneCo Ltd. 

R. Fidêncio Ramos, 308, 10th floor 

Vila Olímpia, São Paulo, SP, Brazil 

04551-010 

Attention: Chief Executive Officer and Legal Department 

  
 15 

 with a copy to: 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York,
NY 10017 
 Attention: Byron B. Rooney 
 Any
party may, by notice to the other party, change the address to which such notices are to be given. 
 Section 3.03.
Successors, Assigns and Transferees. This Agreement and all provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. The Company may assign this Agreement at
any time in connection with a sale or acquisition of the Company, whether by merger, consolidation, sale of all or substantially all of the Company’s assets, or similar transaction, without the consent of the Holders; provided that the
successor or acquiring Person agrees in writing to assume all of the Company’s rights and obligations under this Agreement. A Founding Shareholder may assign its rights and obligations under this Agreement to any transferee that (i) is an
Affiliate and (ii) acquires from such Founding Shareholder in a private placement a number of Class A Common Shares or Class B Common Shares equal to at least 5% of the aggregate number of outstanding Class A Common Shares and
Class B Common Shares and executes an agreement to be bound hereby in the form attached hereto as Exhibit A, an executed counterpart of which shall be furnished to the Company. An Institutional Shareholder may assign its rights and
obligations under this Agreement to any transferee that is an Affiliate and executes an agreement to be bound hereby in the form attached hereto as Exhibit A, an executed counterpart of which shall be furnished to the Company. Notwithstanding
the foregoing, in each case, if such transfer is subject to covenants, agreements or other undertakings restricting transferability thereof, the Registration Rights shall not be transferred in connection with such transfer unless such transferee
complies with all such covenants, agreements and other undertakings. Except as set forth in this Section 3.03, the Holders may not assign their rights and obligations hereunder. 

Section 3.04. GOVERNING LAW; NO JURY TRIAL. 

(a) This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York, without regard to
the conflict of laws principles thereof that would result in the application of any law other than the laws of the State of New York. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT
NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE. 
 (b) With respect to any Action relating to
or arising out of this Agreement, each party to this Agreement irrevocably (i) consents and submits to the exclusive jurisdiction of the courts of the State of New York and any court of the United States located in the Borough of Manhattan in
New York City; (ii) waives any objection which such party may have at any time to the laying of venue of any Action brought in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the
right to object, with respect to such Action, that such court does not have jurisdiction over such party; and (iii) consents to the service of process at the address set forth for notices in Section 3.02 herein; provided,
however, that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable law. 

Section 3.05. Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms,
conditions and provisions of this Agreement, the party or parties who are or are to be thereby aggrieved shall have the right to seek specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to
any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. 

  
 16 

 Section 3.06. Headings. The article, 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. 

Section 3.07. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is
determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner
adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the parties. 

Section 3.08. Amendment; Waiver. 

(a) This Agreement may not be amended or modified and waivers and consents to departures from the provisions hereof may not be given, except by
an instrument or instruments in writing making specific reference to this Agreement and signed by the Company and Holders of a majority of the Registrable Securities as of such time, for purposes of which calculation Registrable Securities shall be
deemed to include Class B Common Shares convertible into Registrable Securities; provided, however, that any amendment, modification or waiver that results in a non-pro rata material adverse effect on the rights of a Holder
under this Agreement will require the written consent of such Holder. 
 (b) Waiver by any party of any default by the other party of any
provision of this Agreement shall not be deemed a waiver by the waiving party of any subsequent or other default, nor shall it prejudice the rights of the other party. 

Section 3.09. Further Assurances. Each of the parties hereto shall execute and deliver all additional documents, agreements and
instruments and shall do any and all acts and things reasonably requested by the other party hereto in connection with the performance of its obligations undertaken in this Agreement. 

Section 3.10. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or
other electronic copy of a signature shall be deemed to be, and shall have the same effect as, executed by an original signature. 
 [The
remainder of page intentionally left blank. Signature page follows.] 

  
 17 

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

			
	StoneCo Ltd.
		
	By:	 	 /s/ Thiago dos Santos Piau

		 	Name: Thiago dos Santos Piau
		 	Title: Chief Executive Officer

  

			
	Cakubran Holdings Ltd.
		
	By:	 	 /s/ Eduardo Cunha Monnerat Solon de Pontes

		 	Name: Eduardo Cunha Monnerat Solon de Pontes
		 	Title: Director

  

			
	HR Holdings, LLC
		
	By:	 	 /s/ Eduardo Cunha Monnerat Solon de Pontes

		 	Name: Eduardo Cunha Monnerat Solon de Pontes
		 	Title: Director

  

			
	VCK Investment Fund Limited SAC
		
	By:	 	 /s/ Bluebay Directors Limited

/s/ Blue Medallion Investments Ltd.

		 	 Name: Bluebay Directors Limited/Blue
 Medallion
Investments Ltd.

		 	Title: Director

  

			
	Madrone Partners L.P.
		
	By:	 	 /s/ Thomas Patterson

		 	Name: Thomas Patterson
		 	Title: Managing Member

  
 [Signature page to the
Registration Rights Agreement] 

 
	
	MANAGEMENT SHAREHOLDERS:
	
	 /s/ André Street

	André Street

  

	
	 /s/ Eduardo Cunha Monnerat Solon de Pontes

	Eduardo Cunha Monnerat Solon de Pontes

  

	
	 /s/ Roberto Moses Thompson Motta

	Roberto Moses Thompson Motta

  

	
	 /s/ Thomas A. Patterson

	Thomas A. Patterson

  

	
	 /s/ Ali Mazanderani

	Ali Mazanderani

  

	
	 /s/ Thiago dos Santos Piau

	Thiago dos Santos Piau

  

	
	 /s/ Augusto Barbosa Estellita Lins

	Augusto Barbosa Estellita Lins

  

	
	 /s/ Marcelo Bastianello Baldin

	Marcelo Bastianello Baldin

  

	
	 /s/ Rafael Martins Pereira

	Rafael Martins Pereira

  

	
	 /s/ Felipe Salvini Bourrus

	Felipe Salvini Bourrus

  

	
	 /s/ Vinícius do Nascimento Carrasco

	Vinícius do Nascimento Carrasco

  

	
	 /s/ Lia Machado de Matos

	Lia Machado de Matos

  
 [Signature page to the
Registration Rights Agreement] 

 SCHEDULE 1 
  

	1.	 André Street 

  

	2.	 Eduardo Cunha Monnerat Solon de Pontes 

 

	3.	 Roberto Moses Thompson Motta 

 

	4.	 Thomas A. Patterson 

  

	5.	 Ali Mazanderani 

  

	6.	 Thiago dos Santos Piau 

 

	7.	 Augusto Barbosa Estellita Lins 

 

	8.	 Marcelo Bastianello Baldin 

 

	9.	 Rafael Martins Pereira 

 

	10.	 Felipe Salvini Bourrus 

 

	11.	 Vinícius do Nascimento Carrasco 

 

	12.	 Lia Machado de Matos 

 EXHIBIT A 

THIS INSTRUMENT forms part of the Registration Rights Agreement (the “Agreement”), dated as of
            , 2018, by and among StoneCo Ltd., an exempted company formed under the laws of the Cayman Islands, Cakubran Holdings Ltd., HR Holdings, LLC and VCK Investment Fund Limited SAC
(the “Founding Shareholders”), Madrone Partners L.P. (the “Institutional Shareholder”) and the Persons listed on Schedule 1 thereto. The undersigned hereby acknowledges having received a copy of the Agreement and
having read the Agreement in its entirety, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, hereby agrees that the terms and conditions of the Agreement binding
upon and inuring to the benefit of [insert name of Founding Shareholder [or Institutional Shareholder] from which Class A Common Shares or Class B Common Shares were acquired] shall be binding upon and
inure to the benefit of the undersigned and its successors and permitted assigns as if it were such [Founding Shareholder][Institutional Shareholder] as an original party to the Agreement. 

IN WITNESS WHEREOF, the undersigned has executed this instrument on this day of
            , 20     . 
  

			
	By:	 	  

		 	Name:
		 	Title:

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