Document:

Exhibit 4.1

 

SHARE PURCHASE AGREEMENT

 

Dated as of June 3, 2022

 

by and between

 

LILIUM N.V.

 

and

 

TUMIM STONE CAPITAL LLC

 

     

     

    

 

TABLE OF CONTENTS

Page

	ARTICLE I DEFINITIONS	1
	ARTICLE II PURCHASE AND
    SALE OF ORDINARY SHARES	1
	Section 2.1	Purchase and Sale of Shares	1
	Section 2.2	Closing; Closing Date	2
	Section 2.3	Initial Public Announcements and Required Filings	2
	ARTICLE III PURCHASE TERMS	3
	Section 3.1	VWAP Purchases	3
	Section 3.2	Settlement	4
	Section 3.3	Compliance with Rules of Trading Market.	5
	Section 3.4	Beneficial Ownership Limitation.	5
	ARTICLE IV REPRESENTATIONS,
    WARRANTIES AND COVENANTS OF THE INVESTOR	6
	Section 4.1	Organization and Standing of the Investor	6
	Section 4.2	Authorization and Power	6
	Section 4.3	No Conflicts	6
	Section 4.4	Investment Purpose	7
	Section 4.5	Accredited Investor Status	7
	Section 4.6	Reliance on Exemptions	7
	Section 4.7	Information	7
	Section 4.8	No Governmental Review	8
	Section 4.9	No General Solicitation	8
	Section 4.10	Not an Affiliate	8
	Section 4.11	Statutory Underwriter Status	8
	Section 4.12	Resales of Securities	8
	ARTICLE V REPRESENTATIONS,
    WARRANTIES AND COVENANTS OF THE COMPANY	9
	Section 5.1	Organization, Good Standing and Power	9
	Section 5.2	Authorization, Enforcement	9
	Section 5.3	Capitalization	10
	Section 5.4	Issuance of Securities	10
	Section 5.5	No Conflicts	10
	Section 5.6	No Violations of Governing Documents	11

 

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	Section 5.7	Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting; Accountants.	11
	Section 5.8	Subsidiaries	14
	Section 5.9	No Material Adverse Effect or Material Adverse Change	14
	Section 5.10	No Undisclosed Liabilities	14
	Section 5.11	No Undisclosed Events or Circumstances	14
	Section 5.12	Solvency	14
	Section 5.13	Title to Assets	15
	Section 5.14	Absence of Proceedings	15
	Section 5.15	Compliance With Laws	15
	Section 5.16	Certain Fees	15
	Section 5.17	Disclosure	16
	Section 5.18	Operation of Business	16
	Section 5.19	Environmental Compliance	17
	Section 5.20	Material Agreements	17
	Section 5.21	Transactions with Affiliates	18
	Section 5.22	Employees; Labor Laws	18
	Section 5.23	Use of Proceeds	19
	Section 5.24	Investment Company Act Status	19
	Section 5.25	ERISA Compliance	19
	Section 5.26	Taxes	19
	Section 5.27	Insurance	20
	Section 5.28	Exemption from Registration	20
	Section 5.29	No General Solicitation or Advertising	20
	Section 5.30	No Integrated Offering	20
	Section 5.31	Dilutive Effect	21
	Section 5.32	Manipulation of Price	21
	Section 5.33	Securities Act	21
	Section 5.34	Listing and Maintenance Requirements; DTC Eligibility	21
	Section 5.35	Application of Takeover Provisions	22
	Section 5.36	No Unlawful Payments	22
	Section 5.37	Money Laundering Laws	22

 

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	Section 5.38	OFAC	23
	Section 5.39	U.S. Real Property Holding Corporation	23
	Section 5.40	No Disqualification Events	23
	Section 5.41	Stock Option Plans	23
	Section 5.42	Acknowledgement Regarding Investor’s Acquisition of Securities	24
	Section 5.43	Information Technology; Compliance with Data Privacy Laws	24
	ARTICLE VI ADDITIONAL COVENANTS	25
	Section 6.1	Securities Compliance	25
	Section 6.2	Reservation of Ordinary Shares	25
	Section 6.3	Registration and Listing	26
	Section 6.4	Compliance with Laws.	26
	Section 6.5	Keeping of Records and Books of Account; Due Diligence.	27
	Section 6.6	No Frustration; No Variable Rate Transactions.	27
	Section 6.7	Corporate Existence	27
	Section 6.8	Fundamental Transaction	28
	Section 6.10	Effective Registration Statement	28
	Section 6.11	Blue Sky	28
	Section 6.12	Non-Public Information	29
	Section 6.13	Broker/Dealer	29
	Section 6.14	Disclosure Schedule.	29
	Section 6.15	Delivery of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events	30
	ARTICLE VII CONDITIONS
    TO CLOSING, COMMENCEMENT AND VWAP PURCHASES	31
	Section 7.1	Conditions Precedent to Closing	31
	Section 7.2	Conditions Precedent to Commencement	32
	Section 7.3	Conditions Precedent to VWAP Purchases after Commencement Date	35
	ARTICLE VIII TERMINATION	38
	Section 8.1	Automatic Termination	38
	Section 8.2	Other Termination	39
	Section 8.3	Effect of Termination	40

 

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	ARTICLE IX INDEMNIFICATION	40
	Section 9.1	Indemnification of Investor	40
	Section 9.2	Indemnification Procedures	41
	ARTICLE X MISCELLANEOUS	42
	Section 10.1	Certain Fees and Expenses; Commitment Shares; Commencement Irrevocable Transfer Agent Instructions.	42
	Section 10.2	Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.	45
	Section 10.3	Entire Agreement	46
	Section 10.4	Notices	46
	Section 10.5	Waivers	47
	Section 10.6	Amendments	47
	Section 10.7	Headings	47
	Section 10.8	Construction	47
	Section 10.9	Binding Effect	48
	Section 10.10	No Third Party Beneficiaries	48
	Section 10.11	Governing Law	48
	Section 10.12	Survival	48
	Section 10.13	Counterparts	48
	Section 10.14	Publicity	49
	Section 10.15	Severability	49
	Section 10.16	Further Assurances	49

Annex I. Definitions

 

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SHARE PURCHASE AGREEMENT

 

This SHARE PURCHASE AGREEMENT
is made and entered into as of June 3, 2022 (this “Agreement”), by and between Tumim Stone Capital LLC,
a Delaware limited liability company (the “Investor”), and Lilium N.V., Dutch public limited liability company
(the “Company”).

 

RECITALS

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions and limitations set forth herein, the Company may issue and sell
to the Investor, from time to time as provided herein, and the Investor shall purchase from the Company, up to $75,000,000 worth of newly
issued shares of the Company’s Class A Ordinary Shares, nominal value €0.12 per share (“Class A Ordinary Shares”);

 

WHEREAS,
such sales of Class A Ordinary Shares by the Company to the Investor will be made in reliance upon the provisions of Section 4(a)(2)
of the Securities Act (“Section 4(a)(2)”) and Rule 506(b) of Regulation D promulgated by the Commission
under the Securities Act (“Regulation D”), and upon such other exemption from the registration requirements
of the Securities Act as may be available with respect to any or all of the sales of Class A Ordinary Shares to the Investor to be made
hereunder;

 

WHEREAS, the
parties hereto are concurrently entering into a Registration Rights Agreement in the form attached as Exhibit A hereto
(the “Registration Rights Agreement”), pursuant to which the Company shall register under the Securities Act
the resale of the Registrable Securities (as defined in the Registration Rights Agreement) by the Investor, upon the terms and subject
to the conditions set forth therein; and 

 

WHEREAS, in consideration
for the Investor’s execution and delivery of this Agreement, the Company will cause its transfer agent to issue to the Investor
the Commitment Shares pursuant to and in accordance with Section 10.1(ii).

 

NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Capitalized terms used in
this Agreement shall have the meanings ascribed to such terms in Annex I hereto, and hereby made a part hereof, or as otherwise
set forth in this Agreement.

 

ARTICLE
II

PURCHASE AND SALE OF ORDINARY SHARES

 

Section 2.1          
Purchase and Sale of Shares. Upon the terms and subject to the conditions of this Agreement, during the Investment
Period, the Company, in its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the
Investor shall purchase from the Company, up to $75,000,000 (the “Total Commitment”) in aggregate gross purchase
price of duly authorized, validly issued, fully paid and non-assessable Class A Ordinary Shares by the delivery to the Investor of VWAP
Purchase Notices as provided in Article III.

 

     

     

    

 

Section 2.2          
Closing; Closing Date. This Agreement shall become effective and binding (the “Closing”)
upon (a) the payment of the Investor Expense Reimbursement to the Investor as provided in Section 10.1(i), (b) the delivery
of irrevocable instructions to issue the Commitment Shares to the Investor or its designees as provided in Section 10.1(ii), provided
that such delivery is subject to receipt of payment of the Commitment Shares Nominal Value Payment as provided in Section 10.1(ii), (c)
the delivery of counterpart signature pages of this Agreement and the Registration Rights Agreement executed by each of the parties hereto
and thereto, and (d) the delivery of all other documents, instruments and writings required to be delivered at the Closing, in each
case as provided in Section 7.1, to the offices of Morrison & Foerster LLP, 2100 L Street NW, Suite 900, Washington, D.C.
20037, at 8:30 a.m., New York City time, on the date of this Agreement (the “Closing Date”).

 

Section 2.3          
Initial Public Announcements and Required Filings. The Company shall, within four (4) Trading Days of the date of this
Agreement, file with the Commission a report on Form 6-K describing the material terms of the transactions contemplated by the Transaction
Documents, including, without limitation, the issuance of the Commitment Shares to the Investor, and attaching as exhibits thereto copies
of each of this Agreement, the Registration Rights Agreement and, if applicable, any press release issued by the Company disclosing the
execution of this Agreement and the Registration Rights Agreement by the Company (including all exhibits thereto, the “Current
Report”). The Company shall provide the Investor a reasonable opportunity to comment on a draft of the Current Report prior
to filing the Current Report with the Commission and shall give due consideration to all such comments. From and after the filing of
the Current Report with the Commission, the Company shall have publicly disclosed all material, nonpublic information delivered to the
Investor (or the Investor’s representatives or agents) by the Company, or any of its officers, directors, employees, agents or
representatives (if any) in connection with the transactions contemplated by the Transaction Documents. The Investor covenants that until
such time as the transactions contemplated by this Agreement are publicly disclosed by the Company as described in this Section 2.3,
the Investor shall maintain the confidentiality of all disclosures made to it in connection with the transactions contemplated by the
Transaction Documents (including the existence and terms of the transactions), except that the Investor may disclose the terms of such
transactions (a) to its financial, accounting, legal and other advisors (provided that the Investor directs such Persons to maintain
the confidentiality of such information), (b) as provided in this Agreement, (c) as required pursuant to applicable federal and state
securities laws, rules and regulations, and the rules of the Trading Market or any Eligible Market or other stock exchange upon which
the Company’s Class A Ordinary Shares are listed or (d) to the extent such terms become generally available to the public not as
a result of any action or inaction of Investor in violation of this Agreement. Not later than fifteen (15) calendar days following the
Closing Date, the Company shall file a Form D with respect to the issuance and sale of the Securities in accordance with Regulation D
and shall provide a copy thereof to the Investor promptly after such filing (the availability of which on the Commission’s EDGAR
system shall constitute provision of such copy). The Company shall use its commercially reasonable efforts to prepare and, as soon as
practicable, but in no event later than the applicable Filing Deadline, file with the Commission the Initial Registration Statement and
any New Registration Statement covering only the resale by the Investor of the Registrable Securities in accordance with the Securities
Act and the Registration Rights Agreement. At or before 5:30 p.m. (New York City time) on the second (2nd) Trading Day immediately
following the Effective Date of the Initial Registration Statement and any New Registration Statement (or any post-effective amendment
thereto), the Company shall file with the Commission in accordance with Rule 424(b) under the Securities Act the final Prospectus to
be used in connection with resales of the Registrable Securities by the Investor pursuant to such Registration Statement (or post-effective
amendment thereto).

 

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ARTICLE
III

PURCHASE TERMS

 

Subject to the satisfaction
of the conditions set forth in Article VII, the parties agree as follows:

 

Section 3.1          
VWAP Purchases. Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement”
and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time
thereafter, subject to the satisfaction of all of the conditions set forth in Section 7.3 and in this Section 3.1, the Company shall
have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a VWAP Purchase Notice, substantially
in the form attached as Exhibit B hereto, on a VWAP Purchase Exercise Date to purchase the VWAP Purchase Share Amount set forth
by the Company therein, not to exceed the applicable VWAP Purchase Maximum Amount, at the VWAP Purchase Price therefor (as confirmed
in the applicable VWAP Purchase Confirmation) in accordance with this Agreement (each such purchase, a “VWAP Purchase”).
Each VWAP Purchase Notice must be accompanied by instructions from the Company to the Company’s transfer agent to issue to the
Investor a number of Class A Ordinary Shares equal to the VWAP Purchase Share Amount by 3:30 p.m., New York City time, on the applicable
VWAP Purchase Exercise Date. At or prior to 7:00 p.m., New York City time, on the applicable VWAP Purchase Exercise Date for each VWAP
Purchase hereunder, the Investor shall provide to the Company a written confirmation for such VWAP Purchase setting forth the applicable
VWAP Purchase Share Amount and the applicable VWAP Purchase Price (both on a per Share basis and the total aggregate VWAP Purchase Price
to be paid by the Investor for such applicable VWAP Purchase Share Amount) with respect to such VWAP Purchase (each, a “VWAP
Purchase Confirmation”). During the Investment Period, the Company may deliver a VWAP Purchase Notice to the Investor on
any Trading Day selected by the Company as the VWAP Purchase Exercise Date for a VWAP Purchase, provided that (i) the Company
may not deliver more than one VWAP Purchase Notice to the Investor on any single Trading Day, (ii) the Company may not deliver a
VWAP Purchase Notice to the Investor on any Trading Day during the period commencing on the VWAP Purchase Exercise Date on which a prior
VWAP Purchase Notice has previously been delivered by the Company to the Investor hereunder, and ending on the applicable VWAP Purchase
Settlement Date (as defined below) (the “Quiet Period”); provided, that, the Investor may, in its sole
discretion, waive the Quiet Period in the event the resale of the Registrable Securities by the Investor is registered pursuant to an
effective Registration Statement on Form F-3 on the date of the applicable VWAP Purchase Notice, and (iii) all Shares subject to all
prior VWAP Purchase Notices for VWAP Purchases that have been properly delivered by the Company to the Investor under this Agreement
(as applicable) have theretofore been received by the Investor or its Broker-Dealer as DWAC Shares, prior to the Company’s delivery
of such VWAP Purchase Notice to the Investor on such VWAP Purchase Exercise Date; provided, that, the Investor may, in its sole
discretion, waive the condition in clause (iii) in the event the resale of the Registrable Securities by the Investor is registered pursuant
to an effective Registration Statement on Form F-3 on the date of the applicable VWAP Purchase Notice. The Investor is obligated to accept
each VWAP Purchase Notice properly delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions
contained in this Agreement. If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share
Amount in excess of the applicable VWAP Purchase Maximum Amount that the Company is then permitted to include in such VWAP Purchase Notice,
such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the VWAP Purchase Share Amount set forth
in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have no obligation to purchase
such excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor shall remain obligated
to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase Notice. Notwithstanding the foregoing (i) the Company shall
not deliver any VWAP Purchase Notices to the Investor during the PEA Period and (ii) following the delivery of a VWAP Purchase Notice,
the Company shall not raise additional capital, in the form of a public or private securities offering or otherwise, until the Trading
Day following the applicable VWAP Purchase Settlement Date.

 

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Section 3.2          
Settlement. For each VWAP Purchase, (1) on the applicable VWAP Purchase Exercise Date, not later than 9:30 a.m., New
York City time (unless another time shall be agreed by the Investor and the Company), the Investor shall pay to the Company an amount
in cash in Dollars by wire transfer in immediately available funds equal to the product of (x) the product of (i) the total VWAP Purchase
Share Amount purchased by the Investor in such VWAP Purchase and (ii) €0.12, and (y) the exchange rate between Dollars and Euros
in effect on such VWAP Purchase Exercise Date as published by the United States Federal Reserve Board plus an additional 10% of such
calculated amount to account for possible changes in the exchange rate between Dollars and Euros (each such payment, a “Nominal
Value Settlement Payment”), (2) subject to receipt by the Company of the applicable Nominal Value Settlement Payment, not
later than 2:30 p.m., New York City time, on the applicable VWAP Purchase Exercise Date, the Company shall cause the applicable VWAP
Purchase Share Amount to be delivered to the Investor as DWAC Shares and (3) on the first (1st) Trading Day immediately following
the applicable VWAP Purchase Exercise Date for such VWAP Purchase (the “VWAP Purchase Settlement Date”), subject
to receipt of such DWAC Shares, not later than 3:30 p.m., New York City time (unless another time shall be agreed to by the Investor
and the Company) on the applicable VWAP Purchase Exercise Date, the Investor shall pay to the Company an amount in cash in Dollars by
wire transfer in immediately available funds equal to (x) the product of (i) the total VWAP Purchase Share Amount purchased by the Investor
in such VWAP Purchase and (ii) the applicable VWAP Purchase Price minus (y) the applicable Nominal Value Settlement Payment. If the Company
or its transfer agent shall fail for any reason, other than a failure of (i) the Investor or its Broker-Dealer to set up a DWAC and required
instructions or (ii) the Investor to deliver the applicable Nominal Value Settlement Payment, to electronically transfer any Shares as
DWAC Shares in respect of a VWAP Purchase prior to 3:30 p.m. New York City time on the applicable VWAP Purchase Exercise Date, and if
on or after such Trading Day the Investor purchases (in an open market transaction or otherwise) Class A Ordinary Shares to deliver in
satisfaction of a sale by the Investor of such Shares that the Investor anticipated receiving from the Company in respect of such VWAP
Purchase, then the Company shall, within two (2) Trading Days after the Investor’s request and at the Company’s option, either
(i) pay cash to the Investor in an amount equal to the Investor’s total purchase price (including brokerage commissions, if any)
for the Class A Ordinary Shares so purchased (the “Cover Price”), at which point the Company’s obligation
to deliver such Shares as DWAC Shares (and the Investor’s obligation to purchase such Shares from the Company) shall terminate,
or (ii) promptly honor its obligation to deliver to the Investor such Shares as DWAC Shares and pay cash to the Investor in an amount
equal to the excess (if any) of the Cover Price over the total purchase price paid by the Investor pursuant to this Agreement for all
of the Shares to be purchased by the Investor in connection with such VWAP Purchase. The Company shall not issue any fraction of a Class
A Ordinary Share upon any VWAP Purchase. If the issuance would result in the issuance of a fraction of a Class A Ordinary Share, the
Company shall round such fraction of a Class A Ordinary Shares up or down to the nearest whole share. All payments made under this Agreement
shall be made in lawful money of the United States of America by wire transfer of immediately available funds to such account as the
Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed
to be due by the terms of this Agreement is due on any day that is not a Trading Day, the same shall instead be due on the next succeeding
day that is a Trading Day.

 

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Section 3.3          
Compliance with Rules of Trading Market.

 

(a)           General.
The Company shall not issue or sell any Class A Ordinary Shares pursuant to this Agreement if such issuance or sale would reasonably
be expected to result in (i) a violation of the Securities Act or (ii) a breach of the rules of the Trading Market. The provisions of
this Section 3.3 shall not be implemented in a manner otherwise than in strict conformity with the terms of this Section 3.3 only if
necessary to ensure compliance with the Securities Act and the applicable rules of the Trading Market.

 

Section 3.4          
Beneficial Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, the Company shall not
issue or sell, and the Investor shall not purchase or acquire, any Class A Ordinary Shares under this Agreement which, when aggregated
with all other Class A Ordinary Shares then beneficially owned by the Investor and its Affiliates (as calculated pursuant to Section 13(d)
of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor of more
than 4.99% of the outstanding Class A Ordinary Shares (the “Beneficial Ownership Limitation”), provided,
that, the Investor may, in its sole discretion, elect to increase the Beneficial Ownership Limitation to permit the Investor to beneficially
own up to 9.99% of the outstanding Class A Ordinary Shares. Upon the written or oral request of the Investor, the Company shall promptly
(but not later than the next Trading Day on which the Company’s transfer agent is open for business) confirm orally or in writing
to the Investor the number of Class A Ordinary Shares then outstanding. The Investor and the Company shall each cooperate in good faith
in the determinations required under this Section 3.4 and the application of this Section 3.4, but in no event shall such an
event cause an adjustment to the settlement of a VWAP Purchase delivered in accordance with Section 7.3. The Investor’s written
certification to the Company of the applicability of the Beneficial Ownership Limitation, and the resulting effect thereof hereunder
at any time, shall be conclusive with respect to the applicability thereof and such result absent manifest error. The provisions of this
Section 3.4 shall not be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.4
unless necessary to properly give effect to the limitations contained in this Section 3.4.

 

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ARTICLE
IV

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR

 

The Investor hereby makes
the following representations, warranties and covenants to the Company:

 

Section 4.1          
Organization and Standing of the Investor. The Investor is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Delaware.

 

Section 4.2          
Authorization and Power. The Investor has the requisite limited liability company power and authority to enter into
and perform its obligations under this Agreement and the Registration Rights Agreement and to purchase or acquire the Securities in accordance
with the terms hereof. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights Agreement
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary limited liability
company action, and no further consent or authorization of the Investor, its Board of Directors or its members is required. Each of this
Agreement and the Registration Rights Agreement has been duly executed and delivered by the Investor and constitutes a valid and binding
obligation of the Investor enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership, or similar laws relating to, or affecting
generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including
any limitation of equitable remedies).

 

Section 4.3          
No Conflicts. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights
Agreement, and the consummation by the Investor of the transactions contemplated hereby and thereby do not and shall not (i) result in
a violation of such Investor’s certificate of formation, limited liability company agreement or other applicable organizational
instruments, (ii) conflict with, constitute a default (or an event which, with notice or lapse of time or both, would become a default)
under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed
of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is a party or by which it or
any of its property or assets are bound, (iii) create or impose any lien, charge or encumbrance on any property of the Investor under
any agreement or any commitment to which the Investor is party or under which the Investor is bound or under which any of its properties
or assets are bound, or (iv) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any order,
judgment or decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets are bound
or affected, except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults, terminations, amendments, acceleration,
cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with, in any material respect,
the ability of the Investor to enter into and perform its obligations under this Agreement and the Registration Rights Agreement. The
Investor is not required under any applicable federal, state, local or foreign law, rule or regulation to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform
any of its obligations under this Agreement and the Registration Rights Agreement or to purchase or acquire the Securities in accordance
with the terms hereof; provided, however, that for purposes of the representation made in this sentence, the Investor is
assuming and relying upon the accuracy of the relevant representations and warranties and the compliance with the relevant covenants
and agreements of the Company in the Transaction Documents to which it is a party.

 

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Section 4.4          
Investment Purpose. The Investor is acquiring the Securities for its own account, for investment purposes and not with
a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to sales registered under
or exempt from the registration requirements of the Securities Act; provided, however, that by making the representations
herein, the Investor does not agree, or make any representation or warranty, to hold any of the Securities for any minimum or other specific
term and reserves the right to dispose of the Securities at any time in accordance with, or pursuant to, a Registration Statement filed
pursuant to the Registration Rights Agreement or an applicable exemption under the Securities Act. The Investor does not presently have
any agreement or understanding, directly or indirectly, with any Person to sell or distribute any of the Securities.

 

Section 4.5          
Accredited Investor Status. The Investor is an “accredited investor” as that term is defined in Rule 501(a)
of Regulation D.

 

Section 4.6          
Reliance on Exemptions. The Investor understands that the Securities are being offered and sold to it in reliance on
specific exemptions from the registration requirements of U.S. federal and state securities laws and that the Company is relying in part
upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Investor set forth herein in order to determine the availability of such exemptions and the eligibility of
the Investor to acquire the Securities.

 

Section 4.7          
Information. All materials relating to the business, financial condition, management and operations of the Company
and materials relating to the offer and sale of the Securities which have been requested by the Investor have been furnished or otherwise
made available to the Investor or its advisors, including, without limitation, the Commission Documents filed with or furnished to the
Commission as of the applicable date or time this representation is made. The Investor understands that its investment in the Securities
involves a high degree of risk. The Investor is able to bear the economic risk of an investment in the Securities, including a total
loss thereof, and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and
risks of a proposed investment in the Securities. The Investor and its advisors have been afforded the opportunity to ask questions of
and receive answers from representatives of the Company concerning the financial condition and business of the Company and other matters
relating to an investment in the Securities. Neither such inquiries nor any other due diligence investigations conducted by the Investor
or its advisors, if any, or its representatives shall modify, amend or affect the Investor’s right to rely on the Company’s
representations and warranties contained in this Agreement. The Investor has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to its acquisition of the Securities. The Investor understands that it
(and not the Company) shall be responsible for its own tax liabilities that may arise as a result of this investment or the transactions
contemplated by this Agreement.

 

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Section 4.8          
No Governmental Review. The Investor understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the
investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

Section 4.9          
No General Solicitation. The Investor is not purchasing or acquiring the Securities as a result of any form of general
solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities.

 

Section 4.10        
Not an Affiliate. The Investor is not an officer, director or an Affiliate of the Company. As of the date of this Agreement,
the Investor does not beneficially own any Class A Ordinary Shares or securities exercisable for or convertible into Class A Ordinary
Shares, and during the Investment Period, the Investor will not acquire beneficial ownership of any shares of the Company’s capital
stock (including Class A Ordinary Shares or securities exercisable for or convertible into Class A Ordinary Shares) other than pursuant
to this Agreement; provided, however, that nothing in this Agreement shall prohibit or be deemed to prohibit the Investor
from purchasing, in an open market transaction or otherwise, Class A Ordinary Shares necessary to make delivery by the Investor in satisfaction
of a sale by the Investor of Shares that the Investor anticipated receiving from the Company in connection with the settlement of a VWAP
Purchase, if the Company or its transfer agent shall have failed for any reason (other than a failure of Investor or its Broker-Dealer
to set up a DWAC and required instructions) to timely electronically transfer all of the Shares subject to such VWAP Purchase to the
Investor on the applicable VWAP Purchase Exercise Date by crediting the Investor’s or its designated Broker-Dealer’s account
at DTC through its DWAC delivery system in compliance with Section 3.2 of this Agreement.

 

Section 4.11        
Statutory Underwriter Status. The Investor acknowledges that it will be disclosed as an “underwriter” and
a “selling shareholder” in each Registration Statement and in any Prospectus contained therein to the extent required by
applicable law and to the extent the Prospectus is related to the resale of Registrable Securities by the Investor.

 

Section 4.12       
Resales of Securities. The Investor represents, warrants and covenants that it will resell Securities purchased or
acquired by the Investor from the Company pursuant to this Agreement only pursuant to the Registration Statement in which the resale
of such Securities is registered under the Securities Act, in a manner described under the caption “Plan of Distribution”
in such Registration Statement, and in a manner in compliance with all applicable U.S. federal and applicable state securities laws,
rules and regulations.

 

    8

     

    

 

ARTICLE
V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY

 

Except as set forth in the
disclosure schedule delivered by the Company to the Investor (which is hereby incorporated by reference in, and constitutes an integral
part of, this Agreement) (the “Disclosure Schedule”) or, where specifically set forth below with respect to
certain specified representations and warranties, as disclosed in the Commission Documents, the Company hereby makes the following representations,
warranties and covenants to the Investor, in each case, unless otherwise indicated therein, as of the date of this Agreement, as of the
Closing Date, as of the Commencement Date and as of each VWAP Purchase Condition Satisfaction Time:

 

Section 5.1          
Organization, Good Standing and Power. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company
nor any Subsidiary is in violation nor default of any of the provisions of its respective Organizational Documents. Each of the Company
and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction
in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to
be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect
and no Action has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such
power and authority or qualification.

 

Section 5.2          
Authorization, Enforcement. The Company has the requisite corporate power and
authority to enter into and perform its obligations under each of the Transaction Documents to which it is a party and to issue the Securities
in accordance with the terms hereof and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof
as may be required in connection with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior
to the delivery of any VWAP Purchase Notice), the execution, delivery and performance by the Company of each of the Transaction Documents
to which it is a party and the consummation by it of the transactions contemplated hereby and thereby have been duly and validly authorized
by all necessary corporate action, and no further consent or authorization of the Company, its Board of Directors or its shareholders
is required. Each of the Transaction Documents to which the Company is a party has been duly executed and delivered by the Company and
constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership
or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles
of general application (including any limitation of equitable remedies).

 

    9

     

    

 

Section 5.3          
Capitalization. Except as set forth in Schedule 5.3 of the Disclosure Schedule, the authorized share capital of the
Company and the shares thereof issued and outstanding were as set forth in the Commission Documents as of the dates reflected therein.
All of the outstanding shares of capital stock of the Company have been duly authorized and validly issued, and are fully paid and non-assessable.
Except as set forth in the Commission Documents, this Agreement and the Registration Rights Agreement, there are no agreements or arrangements
under which the Company is obligated to register the sale of any securities under the Securities Act. Except as set forth in the Commission
Documents, no shares of authorized share capital of the Company are entitled to preemptive rights and there are no outstanding debt securities
and no contracts, commitments, understandings, or arrangements by which the Company is or may become bound to issue additional shares
of the capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into or exchangeable for, any shares of capital stock of the Company other than those
issued or granted in the ordinary course of business pursuant to the Company’s equity incentive and/or compensatory plans or arrangements.
Except for customary transfer restrictions contained in agreements entered into by the Company to sell restricted securities or as set
forth in the Commission Documents, the Company is not a party to, and it has no Knowledge of, any agreement restricting the voting or
transfer of any shares of the capital stock of the Company. Except as set forth in the Commission Documents, there are no securities
or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement or any of the other Transaction
Documents or the consummation of the transactions described herein or therein. The Company has filed with the Commission true and correct
copies of the Company’s Organizational Documents.

 

Section 5.4          
Issuance of Securities. The Commitment Shares have been, and the Shares to be purchased by the Investor pursuant to
a particular VWAP Purchase Notice will be, prior to the delivery to the Investor hereunder of such VWAP Purchase Notice, duly authorized
by all necessary corporate action on the part of the Company. The Securities, when issued and sold against payment therefor in accordance
with this Agreement, shall be validly issued and outstanding, fully paid and non-assessable and free from all liens, charges, taxes,
security interests, encumbrances, rights of first refusal, preemptive or similar rights and other encumbrances with respect to the issue
thereof, and the Investor shall be entitled to all rights accorded to a holder of Class A Ordinary Shares.

 

Section 5.5          
No Conflicts. The execution, delivery and performance by the Company of each of the Transaction Documents to which
it is a party and the consummation by the Company of the transactions contemplated hereby and thereby do not and shall not (i) result
in a violation of any provision of the Company’s Organizational Documents, (ii) result in a breach or violation of any of the terms
or provisions of, or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or
give rise to any rights of termination, amendment, acceleration or cancellation of, any Material Agreement, mortgage, deed of trust,
indenture, note, bond, license, lease agreement, instrument or obligation to which the Company or any of its Subsidiaries is a party
or is bound, (iii) create or impose a lien, charge or encumbrance on any property or assets of the Company or any of its Subsidiaries
under any agreement or any commitment to which the Company or any of its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound or to which any of their respective properties or assets is subject, or (iv) result in a violation of any federal,
state, local or foreign statute, rule, regulation, order, judgment or decree applicable to the Company or any of its Subsidiaries or
by which any property or asset of the Company or any of its Subsidiaries are bound or affected (including federal and state securities
laws and regulations and the rules and regulations of the Trading Market or applicable Eligible Market), except, in the case of clauses
(ii), (iii) and (iv), for such conflicts, defaults, terminations, amendments, acceleration, cancellations, liens, charges, encumbrances
and violations as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect. Except as specifically
contemplated by this Agreement or the Registration Rights Agreement and as required under the Securities Act and any applicable state
securities laws, the Company is not required under any federal, state, local or foreign law, rule or regulation to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency (including, without limitation,
the Trading Market) in order for it to execute, deliver or perform any of its obligations under the Transaction Documents to which it
is a party, or to issue the Securities to the Investor in accordance with the terms hereof and thereof (other than such consents, authorizations,
orders, filings or registrations as have been, or will be, obtained or made prior to the Closing Date); provided, however,
that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the representations
and warranties of the Investor in this Agreement and the compliance by it with its covenants and agreements contained in this Agreement
and the Registration Rights Agreement.

 

    10

     

    

 

Section 5.6          
No Violations of Governing Documents. Neither the Company nor any of its Subsidiaries is in violation, breach or default
under the Company’s Organizational Documents.

 

Section 5.7          
Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting;
Accountants.

 

(a)           Since
September 15, 2021, the Company has timely filed all Commission Documents required to be filed with or furnished to the Commission by
the Company under the Securities Act or the Exchange Act, including those required to be filed with or furnished to the Commission under
Section 13(a) or Section 15(d) of the Exchange Act. As of the date of this Agreement, no Subsidiary of the Company is required
to file or furnish any report, schedule, registration, form, statement, information or other document with the Commission. The Company
has delivered or made available to the Investor via EDGAR true and complete copies of the Commission Documents filed with or furnished
to the Commission prior to the date of this Agreement. As of its filing date, each Commission Document filed with or furnished to the
Commission complied in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable (or, if amended,
restated or superseded by a filing prior to the Closing Date, on the date of such amended, restated or superseded filing). Each Registration
Statement, on the date it is filed with the Commission, on the date it is declared effective by the Commission and on each VWAP Purchase
Exercise Date shall comply in all material respects with the requirements of the Securities Act (including, without limitation, Rule
415 under the Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein not misleading, except that this representation and warranty
shall not apply to statements in or omissions from such Registration Statement made in reliance upon and in conformity with information
relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. The Prospectus
and each Prospectus Supplement required to be filed pursuant to this Agreement or the Registration Rights Agreement after the Closing
Date, when taken together, on its date and on each VWAP Purchase Exercise Date shall comply in all material respects with the requirements
of the Securities Act (including, without limitation, Rule 424(b) under the Securities Act) and shall not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, except that this representation and warranty shall not
apply to statements in or omissions from the Prospectus or any Prospectus Supplement made in reliance upon and in conformity with information
relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. Each Commission
Document (other than the Initial Registration Statement or any New Registration Statement, or the Prospectus included therein or any
Prospectus Supplement thereto) to be filed with or furnished to the Commission after the Closing Date and incorporated by reference in
the Initial Registration Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement
thereto required to be filed pursuant to this Agreement or the Registration Rights Agreement (including, without limitation, the Current
Report), when such document is filed with or furnished to the Commission and, if applicable, when such document becomes effective, as
the case may be, shall comply in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable.
There are no comments provided to the Company by the Commission’s staff relating to any of the Commission Documents filed with
or furnished to the Commission as of the applicable date or time this representation is being made under Article VII hereof that remain
outstanding or unresolved. The Commission has not issued any stop order or other order suspending the effectiveness of any registration
statement filed by the Company under the Securities Act or the Exchange Act.

 

    11

     

    

 

(b)           The
financial statements of the Company included in the Commission Documents filed with or furnished to the Commission as of the applicable
date or time this representation is being made under Article VII hereof, together with the related notes and schedules thereto, comply
as to form in all material respects with the applicable requirements of the Securities Act and the Exchange Act in effect as of the time
of filing and present fairly in all material respects the financial condition of the Company, together with its consolidated Subsidiaries,
as of the dates shown and its results of operations and cash flows for the periods shown, and such consolidated financial statements
have been prepared in accordance with International Financial Reporting Standards (the “IFRS”), as issued by
the International Accounting Standards Board and the related interpretations issued by the IFRS Interpretations Committee and applied
on a consistent basis throughout the periods covered thereby except for any normal year-end adjustments in the Company’s quarterly
financial statements. Any pro forma financial statements and pro forma data included or incorporated by reference in the Commission Documents
comply with the applicable requirements of Regulation S-X of the Securities Act, including, without limitation, Article 11 thereof, and
the assumptions used in the preparation of any such pro forma financial statements and data are reasonable, the pro forma adjustments
used therein are appropriate to give effect to the circumstances referred to therein and the pro forma adjustments have been properly
applied to the historical amounts in the compilation of those statements and data. The other financial and statistical data with respect
to the Company and the Subsidiaries contained or incorporated by reference in the Commission Documents are accurately and fairly presented
and prepared on a basis consistent with the financial statements and books and records of the Company; there are no financial statements
(historical or pro forma) that are required to be included or incorporated by reference in the Commission Documents that are not included
or incorporated by reference as required. All disclosures contained or incorporated by reference in the Commission Documents, if any,
regarding “non-IFRS financial measures” (as such term is defined by the rules and regulations of the Commission) comply in
all material respects with Regulation G under the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent
applicable. The Company and its Subsidiaries do not have any material liabilities or obligations, direct or contingent, not described
in the Commission Documents which are required to be described in the Commission Documents.

 

    12

     

    

 

(c)           Except
as disclosed in the Commission Documents, from and after September 15, 2021, the Company and each of its Subsidiaries have maintained
and continue to maintain a system of “internal control over financial reporting” (as defined under Rules 13a-15 and 15d-15 under
the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision of, their
respective principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
IFRS, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that (i) transactions
are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with IFRS and to maintain asset accountability; (iii) access to assets
is permitted only in accordance with management’s general or specific authorization; (iv) the recorded accountability for
assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences;
and (v) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Commission Documents,
the Initial Registration Statement or any New Registration Statement fairly present the information called for in all material respects
and have been prepared in accordance with the Commission’s rules and guidelines applicable thereto. Except as disclosed in the
Commission Documents, since September 15, 2021, the Company and its Subsidiaries’ internal controls over financial reporting are
effective and the Company and its Subsidiaries are not aware of any material weakness in their internal controls over financial reporting.
Since the date of the latest audited financial statements included in the Commission Documents, there has been no change in the Company’s
internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting adversely.

 

(d)           The
Company maintains disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) that have been
designed to ensure that material information relating to the Company and the Subsidiaries is made known to the Company’s principal
executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective,
except as disclosed in the Commission Documents.

 

(e)           To
the Company’s Knowledge, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft is (x) an independent registered public
accounting firm with respect to the Company within the meaning of the Securities Act and (y) not in violation of the auditor independence
requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) with respect to the Company.

 

(f)            There
is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such,
to comply in all material respects with any applicable provision of the Sarbanes-Oxley Act and the rules and regulations promulgated
in connection therewith.

 

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Section 5.8          
Subsidiaries. Except as set forth in Schedule 5.8 of the Disclosure Schedule, the Commission Documents set forth each
Subsidiary of the Company, other than those that may be omitted pursuant to Item 601 of Regulation S-K, showing its jurisdiction of incorporation
or organization, and the Company does not have any other Subsidiaries. No Subsidiary of the Company is currently prohibited, directly
or indirectly, from paying any dividends to the Company, from making any other distribution on such Subsidiary’s capital stock,
from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s
property or assets to the Company or any other Subsidiary of the Company, except as described in or contemplated by the Commission Documents
or as would not reasonably be expected to have a Material Adverse Effect.

 

Section 5.9          
No Material Adverse Effect or Material Adverse Change. Except as otherwise disclosed in any Commission Documents and
on the Disclosure Schedule, since the date of the latest audited financial statements of the Company included within the Commission Documents
and to the Company’s Knowledge, (a) neither the Company nor any of its Subsidiaries has incurred any material liabilities or obligations,
direct or contingent, or entered into any material transactions other than in the ordinary course of business, (b) the Company has not
declared or paid any dividends or made any distribution of any kind with respect to its share capital; (c) there has not been any change
in the share capital of the Company or any of its Subsidiaries (other than a change in the number of outstanding Class A Ordinary Shares
due to the issuance of shares upon the exercise of outstanding options or warrants, upon the conversion of outstanding shares of preferred
share or other convertible securities or the issuance of restricted share awards or restricted share units under the Company’s
existing share awards plan, or any new grants thereof in the ordinary course of business), (d) there has not been any material change
in the Company’s long-term or short-term debt, and (e) there has not been the occurrence of any Material Adverse Effect or any
development that would be reasonably expected to result in a Material Adverse Effect.

 

Section 5.10        
No Undisclosed Liabilities. Neither the Company nor any of its Subsidiaries has any liabilities, obligations, claims
or losses (whether liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) that would be required
to be disclosed on a balance sheet of the Company or any Subsidiary (including the notes thereto) in conformity with IFRS and are not
disclosed in the Commission Documents, other than those incurred in the ordinary course of the Company’s or its Subsidiaries respective
businesses since the date of the latest audited financial statements of the Company included within the Commission Documents and which,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.

 

Section 5.11       
No Undisclosed Events or Circumstances. No event or circumstance has occurred nor information exists, with respect
to the Company or any of its Subsidiaries or its or their business, properties, liabilities, operations (including results thereof) or
conditions (financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure or announcement by the
Company but which has not been so publicly announced or disclosed, except for events or circumstances which, individually or in the aggregate,
would not reasonably be expected to have a Material Adverse Effect.

 

Section 5.12       
Solvency. Since September 15, 2021, the Company has not taken any steps, and does not currently expect to take any
steps, to seek protection pursuant to any Bankruptcy Law, nor does the Company have any Knowledge that its creditors intend to initiate
involuntary bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for relief under any Bankruptcy Law.
The Company is financially solvent and is generally able to pay its debts as they become due.

 

    14

     

    

 

Section 5.13       
Title to Assets. The Company and each of its Subsidiaries has good and marketable title in fee simple to all real
property and good and marketable title to all personal property owned by them which is material to the business of the Company and its
Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as do not materially affect the value of
such property and do not interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries; and
any real property and buildings held under lease by the Company and its Subsidiaries are held by it under valid, subsisting and enforceable
leases with such exceptions as are not material and do not interfere in any material respect with the use made and proposed to be made
of such property and buildings by the Company and its Subsidiaries, in each case except as described in the Commission Documents.

 

Section 5.14      
Absence of Proceedings. Except as set forth in Schedule 5.14 of the Disclosure Schedule, there are no Actions pending
or, to the Company’s Knowledge, currently threatened against the Company or any of its Subsidiaries or their respective assets
or properties (i) other than Actions accurately described in all material respects in the Commission Documents and Actions that, individually
or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, or on the power or ability of the Company to
perform its obligations under, or consummate the transactions contemplated by, the Transaction Documents or (ii) that are required to
be described in the Commission Documents and are not so described.

 

Section 5.15      
Compliance With Laws. The business of the Company and the Subsidiaries has been since September 15, 2021 and is presently
being conducted in compliance with all applicable federal, state, local and foreign governmental laws, rules, regulations and ordinances,
except as set forth in the Commission Documents and except for such non-compliance which, individually or in the aggregate, would not
be reasonably expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of any judgment,
decree or order or any statute, ordinance, rule or regulation of any Governmental Authority applicable to the Company or any of its Subsidiaries,
and neither the Company nor any of its Subsidiaries will conduct its business in violation of any of the foregoing, except in all cases
for any such violations which could not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.
There are no statutes, laws, rules, regulations or ordinances of any Governmental Authority, self-regulatory organization or body that
are applicable to the Company or any of its Subsidiaries or to their respective businesses, assets or properties that are required to
be described in any Commission Document that are not described therein as required.

 

Section 5.16      
Certain Fees. Except as set forth in Schedule 5.16 of the Disclosure Schedule, no brokerage or finder’s fees
or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. The Investor shall have no obligation
with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this
Section 5.16 incurred by the Company or its Subsidiaries that may be due or payable in connection with the transactions contemplated
by the Transaction Documents.

 

    15

     

    

 

Section 5.17        
Disclosure. The Company confirms that neither it nor any Person acting on its behalf has provided the Investor or any
of its agents, advisors or counsel with any information that constitutes or could reasonably be expected to constitute material, nonpublic
information concerning the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by the Transaction
Documents. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting resales of
Securities under the Registration Statement. All disclosure provided to Investor regarding the Company and its Subsidiaries, their businesses
and the transactions contemplated by the Transaction Documents (including, without limitation, the representations and warranties of
the Company contained in the Transaction Documents to which it is a party (as modified by the Disclosure Schedule)) furnished in writing
by or on behalf of the Company or any of its Subsidiaries for purposes of or in connection with the Transaction Documents (other than
forward-looking information and projections and information of a general economic nature and general information about the Company’s
industry), taken together, is true and correct in all material respects on the date on which such information is dated or certified,
and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
made therein, in the light of the circumstances under which they were made, not misleading at such time.

 

Section 5.18        
Operation of Business.

 

(a)           The
Company and its Subsidiaries possess all material certificates, authorizations and permits issued by the appropriate federal, state or
foreign regulatory authorities necessary to conduct their respective businesses, except where the failure to possess such certificates,
authorizations or permits would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect; and
neither the Company nor any of its Subsidiaries has received any notice of proceedings relating to the revocation or modification of
any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or
finding, would reasonably be expected to have a Material Adverse Effect, except, in each case, as described in the Commission Documents.
This Section 5.18(a) does not relate to environmental matters, such items being the subject of Section 5.19.

 

(b)           Except
as described in the Commission Documents, (i) the Company and its Subsidiaries own or have a valid license to all patents, inventions,
copyrights, know how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems
or procedures), trademarks, service marks, trade names, domain names and other intellectual property, including any and all registrations,
applications for registration, and goodwill associated with any of the foregoing (collectively, “Intellectual Property Rights”)
currently employed by them in connection with the business as described in the Commission Documents, except where the failure to own,
possess, license, have the right to use any of the foregoing would not reasonably be expected to result in a Material Adverse Effect;
(ii) the Intellectual Property Rights owned by the Company and its Subsidiaries and, to the Company’s Knowledge, the Intellectual
Property Rights exclusively licensed to the Company and its Subsidiaries, in each case, which are material to the conduct of the business
of the Company and its Subsidiaries as described in the Commission Documents are valid, subsisting and enforceable, and there is no pending
or, to the Company’s Knowledge, threatened action, suit, proceeding or claim by others challenging the validity, scope or enforceability
of any such Intellectual Property Rights; (iii) neither the Company nor any of its Subsidiaries has received any written notice alleging
any infringement, misappropriation or other violation of Intellectual Property Rights which, individually or in the aggregate, if the
subject of an unfavorable decision, ruling or finding, would be reasonably expected to have a Material Adverse Effect; (iv) all Intellectual
Property Rights owned or purported to be owned by the Company or its Subsidiaries is owned solely by the Company or its Subsidiaries
and is owned free and clear of all liens, encumbrances, defects and other restrictions except for liens, encumbrances, defects and restrictions
as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect; (v) to the Company’s
Knowledge, no third party is infringing, misappropriating or otherwise violating, or has infringed, misappropriated or otherwise violated,
any Intellectual Property Rights owned by the Company, except to the extent that the infringement, misappropriation or violation, would
not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect; (vi) to the Company’s Knowledge,
neither the Company nor any of its Subsidiaries infringes, misappropriates or otherwise violates, or has infringed, misappropriated or
otherwise violated, any Intellectual Property Rights of a third party that would, individually or in the aggregate, be reasonably expected
to have a Material Adverse Effect; (vii) all employees or contractors engaged in the development of Intellectual Property Rights on behalf
of the Company or any Subsidiary have executed an invention assignment agreement whereby such employees or contractors presently assign
all of their right, title and interest in and to such Intellectual Property Rights to the Company or the applicable Subsidiary, and to
the Company’s Knowledge no such agreement has been breached or violated, or Intellectual Property Rights have been assigned to
the Company by applicable law; and (viii) the Company and its Subsidiaries use, and have used, commercially reasonable efforts to appropriately
maintain all information intended to be maintained as a trade secret.

 

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Section 5.19       
Environmental Compliance. Except as set forth in the Commission Documents, the Company and its Subsidiaries (i) are
in compliance with all applicable federal, state, local and foreign laws relating to pollution or protection of human health and safety,
the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”);
(ii) have received all permits or other approvals required of them under applicable Environmental Laws to conduct their respective
businesses; and (iii) are in compliance with all terms and conditions of any such permit or approval, where in each clause (i), (ii)
and (iii), the failure to so comply would be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

 

Section 5.20       
Material Agreements. Except as set forth in the Commission Documents, neither the Company nor any Subsidiary of the
Company is a party to any contract, agreement or plan, a copy of which would be required to be filed with the Commission as an exhibit
to an annual report on Form 20-F (collectively, “Material Agreements”). Each of the Material Agreements described
in the Commission Documents conform in all material respects to the descriptions thereof contained or incorporated by reference therein.
Except as set forth in the Commission Documents, the Company and each of its Subsidiaries have performed in all material respects all
the obligations then required to be performed by them under the Material Agreements, have received no notice of default or an event of
default by the Company or any of its Subsidiaries thereunder and are not aware of any basis for the assertion thereof, and neither the
Company or any of its Subsidiaries nor, to the Knowledge of the Company, any other contracting party thereto are in default under any
Material Agreement now in effect, the result of which would be reasonably expected to have a Material Adverse Effect. Except as set forth
in the Commission Documents, each of the Material Agreements is in full force and effect, and constitutes a legal, valid and binding
obligation enforceable in accordance with its terms against the Company and/or any of its Subsidiaries and, to the Knowledge of the Company,
each other contracting party thereto, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s
rights and remedies or by other equitable principles of general application.

 

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Section 5.21       
Transactions with Affiliates. Except as set forth in (i) the Commission Documents or (ii) Schedule 5.21 of the Disclosure
Schedule, none of the officers or directors of the Company and, to the Knowledge of the Company, none of the Company’s shareholders,
the officers or directors of any shareholder of the Company, or any family member or Affiliate of any of the foregoing, has either directly
or indirectly any interest in, or is a party to, any transaction that is required to be disclosed by the Company as a related party transaction
pursuant to Item 404 of Regulation S-K promulgated under the Securities Act.

 

Section 5.22       
Employees; Labor Laws. Except as set forth in the Commission Documents, neither the Company nor any of its Subsidiaries
is bound by or subject to (and none of their assets or properties is bound by or subject to) any contract with any labor union, and,
to the Company’s Knowledge, no labor union has requested or has sought to represent any of the employees of the Company or any
of its Subsidiaries. There is no strike or other labor dispute involving the Company or any of its Subsidiaries pending, or to the Company’s
Knowledge, threatened, that has had or would be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect,
nor, to the Knowledge of the Company, is there any labor organization activity involving the employees of the Company or any of its Subsidiaries.
With respect to all current and former Persons who have performed services for or on behalf of the Company or any of its Subsidiaries,
each of the Company and its Subsidiaries has complied in all material respects with all applicable state and federal equal employment
opportunity, wage and hour, compensation and other laws related to employment, including but not limited to, overtime requirements, classification
of employees and independent contractors under federal and state laws (including for tax purposes and for purposes of determining eligibility
to participate in any Employee Plan (as defined below)), hours of work, leaves of absence, equal opportunity, sexual and other harassment,
whistleblower protections, immigration, occupational health and safety, workers’ compensation, and the withholding and payment
of all applicable Taxes, and there are no material arrears in the payments of wages, unemployment insurance premiums or other similar
obligations. There are no material claims, disputes, grievances, or controversies pending or, to the Knowledge of the Company, threatened
involving any employee or group of employees of the Company or any of its Subsidiaries. There are no material charges, investigations,
administrative proceedings or formal complaints of (i) discrimination or retaliation (including discrimination, harassment or retaliation
based upon sex, age, marital status, race, national origin, sexual orientation, disability or veteran status), (ii) unfair labor practices,
(iii) violations of health and safety laws, (iv) workplace injuries or (v) whistleblower retaliation against the Company or any of its
Subsidiaries, in each case that (y) pertain to any current or former employee and (z) have been threatened in writing by such employee
or are pending before the Equal Employment Opportunity Commission, the National Labor Relations Board, the U.S. Department of Labor,
the U.S. Occupational Health and Safety Administration, the Workers Compensation Appeals Board, or any other Governmental Authority.

 

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Section 5.23       
Use of Proceeds. The proceeds from the sale of the Shares by the Company to the Investor shall be used by the Company
and its Subsidiaries in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective
amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.

 

Section 5.24       
Investment Company Act Status. The Company is not, and as a result of the consummation of the transactions contemplated
by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the Prospectus included
in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the
Registration Rights Agreement the Company will not be an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

Section 5.25       
ERISA Compliance. Except as set forth in the Commission Documents, neither the Company nor any of its Subsidiaries
is a party to an “employee benefit plan,” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974,
as amended (“ERISA”), which: (i) is subject to Title IV of ERISA and (ii) is or was at any time maintained,
administered or contributed to by the Company or any of its ERISA Affiliates (as defined hereafter). Each plan is referred to herein
as an “Employee Plan.” An “ERISA Affiliate” of any Person means any other Person
which, together with that Person, could be treated as a single employer under Section 414(b), (c), (m) or (o) of the Internal Revenue
Code of 1986, as amended (the “Code”). Each Employee Plan has been maintained in material compliance with its
terms and the requirements of applicable law. Except as disclosed in the Commission Documents, there is no liability in respect of post-retirement
health and medical benefits for retired employees of the Company or any of its ERISA Affiliates, other than medical benefits required
to be continued under applicable law. No “prohibited transaction”(as defined in either Section 406 of ERISA or Section 4975
of the Code) has occurred with respect to any Employee Plan; and each Employee Plan that is intended to be qualified under Section 401(a)
of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which could cause the loss of such qualification,
except where such occurrence or failure to qualify would not, individually or in the aggregate, be reasonably expected to have a Material
Adverse Effect. With respect to each Employee Plan, no Actions (other than routine claims for benefits in the ordinary course of business)
are pending or, to the Knowledge of the Company, threatened, and, to the Knowledge of the Company,] no facts or circumstances exist that
would reasonably be expected to give rise to any such Actions. No Employee Plan is currently under investigation or audit by any Governmental
Authority and, to the Knowledge of the Company, no such investigation or audit is contemplated or under consideration. Each Employee
Plan that is a “nonqualified deferred compensation plan” subject to Section 409A of the Code has been maintained and administered
in all material respects in accordance with its terms and in operational and documentary compliance with Section 409A of the Code and
all regulations and other applicable regulatory guidance (including notices and rulings) thereunder.

 

Section 5.26      
Taxes. Each of the Company and its Subsidiaries has (a) filed all material foreign, federal, state and local Tax Returns
required to be filed with taxing authorities prior to the date hereof or has duly obtained extensions of time for the filing thereof
and (b) paid all material Taxes shown as due and payable on such returns that were filed and has paid all material Taxes imposed on or
assessed against the Company or such respective Subsidiary. The provisions for Taxes payable, if any, shown on the financial statements
included in the Commission Documents are sufficient for all accrued and unpaid Taxes, whether or not disputed, and for all periods to
and including the dates of such consolidated financial statements. To the Company’s Knowledge, no issues have been raised (and
are currently pending) by any taxing authority in connection with any of the Tax Returns or Taxes asserted as due from the Company or
its Subsidiaries, and no waivers of statutes of limitation with respect to the returns or collection of Taxes have been given by or requested
from the Company or its Subsidiaries that would be reasonably likely to result in a Material Adverse Effect.

 

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Section 5.27      
Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as, in the Company’s reasonable judgment, are prudent and customary in the businesses
in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. The
Company has no reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires
or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not, individually
or in the aggregate, be reasonably expected to have a Material Adverse Effect on the Company.

 

Section 5.28      
Exemption from Registration. Subject to, and in reliance on, the representations, warranties and covenants made herein
by the Investor, the offer and sale of the Securities from the Company to the Investor in accordance with the terms and conditions of
this Agreement is exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) and Rule 506(b) of
Regulation D; provided, however, that at the request of and with the express agreements of the Investor (including, without
limitation, the representations, warranties and covenants of Investor set forth in Article IV), the Securities to be issued from and
after Commencement to or for the benefit of the Investor pursuant to this Agreement shall be issued to the Investor or its designee only
as DWAC Shares and will not bear legends noting restrictions as to resale of such securities under federal or state securities laws,
nor will any such securities be subject to stop transfer instructions.

 

Section 5.29      
No General Solicitation or Advertising. Neither the Company, nor any of its Subsidiaries or Affiliates, nor any Person
acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D) in connection with the offer or sale of the Securities.

 

Section 5.30      
No Integrated Offering. None of the Company or any of its Affiliates, nor any Person acting on their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require
registration of the offer, issuance and sale by the Company to the Investor of any of the Securities under the Securities Act, whether
through integration with prior offerings or otherwise. None of the Company, its Subsidiaries, their Affiliates nor any Person acting
on their behalf will take any action or steps referred to in the preceding sentence that would require registration of the offer, issuance
and sale by the Company to the Investor of any of the Securities under the Securities Act or cause the offering of any of the Securities
to be integrated with any other offering of securities of the Company.

 

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Section 5.31        Dilutive
Effect. The Company is aware and acknowledges that issuance of the Securities could cause dilution to existing shareholders and
could significantly increase the outstanding number of Class A Ordinary Shares. The Company further acknowledges that its obligation
to issue the Commitment Shares and to issue the Shares pursuant to the terms of a VWAP Purchase, in each case, is (subject to the terms
and conditions in this Agreement) absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership
interests of other shareholders of the Company.

 

Section 5.32      
Manipulation of Price. Neither the Company nor any of its officers, directors or Affiliates has, and, to the Knowledge
of the Company, no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or intended to cause or
to result in the stabilization or manipulation of the price of any security of the Company, or which caused or resulted in, or which
would in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security of the
Company, in each case to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another
to purchase any other securities of the Company. Neither the Company nor any of its officers, directors or Affiliates will during the
term of this Agreement, and, to the Knowledge of the Company, no Person acting on their behalf will during the term of this Agreement,
take any of the actions referred to in the immediately preceding sentence.

 

Section 5.33      
Securities Act. The Company has complied and shall comply with all applicable federal and state securities laws in
connection with the offer, issuance and sale of the Securities hereunder, including, without limitation, the applicable requirements
of the Securities Act. Each Registration Statement, upon filing with the Commission and at the time it is declared effective by the Commission,
shall satisfy all of the requirements of the Securities Act to register the resale of the Registrable Securities included therein by
the Investor in accordance with the Registration Rights Agreement on a delayed or continuous basis under Rule 415 under the Securities
Act at then-prevailing market prices, and not fixed prices.

 

Section 5.34      
Listing and Maintenance Requirements; DTC Eligibility. Class A Ordinary Shares are registered pursuant to Section 12(b)
of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to have the effect of, terminating
the registration of the Class A Ordinary Shares under the Exchange Act, nor has the Company received any notification that the Commission
is contemplating terminating such registration. The Company has not received notice from the Trading Market to the effect that the Company
is not in compliance with the listing or maintenance requirements of the Trading Market. The Company is in compliance with all such listing
and maintenance requirements. The Class A Ordinary Shares are eligible for participation in the DTC book entry system and has shares
on deposit at DTC for transfer electronically to third parties via DTC through its Deposit/Withdrawal at Custodian (“DWAC”)
delivery system. The Company has not received notice from DTC to the effect that a suspension of, or restriction on, accepting additional
deposits of Class A Ordinary Shares, electronic trading or book-entry services by DTC with respect to the Class A Ordinary Shares are
being imposed or is contemplated.

 

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Section 5.35      
Application of Takeover Provisions. There is no control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s Organizational Documents
or the laws of its state of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company
fulfilling their respective obligations or exercising their respective rights under the Transaction Documents (as applicable), including,
without limitation, as a result of the Company’s issuance of the Securities and the Investor’s ownership of the Securities.

 

Section 5.36      
No Unlawful Payments. Neither the Company nor any of its Subsidiaries nor any director or officer, nor, to the Knowledge
of the Company, any employee, agent, representative or Affiliate of the Company, has taken any action in furtherance of an offer, payment,
promise to pay, or authorization or approval of the payment or giving of money ,property, gifts or anything else of value, directly or
indirectly, to any “government official” (including any officer or employee of a government or government-owned or controlled
entity or of a public international organization, or any Person acting in an official capacity for or on behalf of any of the foregoing,
or any political party or party official or candidate for political office) to improperly influence official action or secure an improper
advantage (to the extent acting on behalf of or providing services to the Company. The Company and its Subsidiaries have conducted their
businesses since June 1, 2017 in compliance with the FCPA, any applicable law or regulation implementing the OECD Convention on Combating
Bribery of Foreign Public Officials in International Business Transactions, signed December 17, 1997, the U.K. Bribery Act 2010 and other
applicable anti-corruption, anti-money laundering and anti-bribery laws, and have instituted and maintain policies and procedures designed
to promote and achieve compliance with such laws and with the representation and warranty contained herein.

 

Section 5.37      
Money Laundering Laws. The operations of the Company are and have been conducted at all times since June 1, 2017 in
material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, and the applicable anti-money laundering statutes, including but not limited to, applicable
federal, state, international, foreign or other laws, regulations or government guidance regarding anti-money laundering, including,
without limitation, Title 18 U.S. Code Section 1956 and 1957, the Patriot Act, the Bank Secrecy Act, and international anti-money laundering
principles or procedures by an intergovernmental group or organization, such as the Financial Action Task Force on Money Laundering,
of which the United States is a member and with which designation the United States representative to the group or organization continues
to concur, all as amended, and any Executive order, directive, or regulation pursuant to the authority of any of the foregoing, or any
orders or licenses issued thereunder, of jurisdictions where the Company conducts business, the rules and regulations thereunder and
any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the
 “Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the Knowledge of
the Company, threatened.

 

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Section 5.38      
OFAC. Neither the Company nor any of its Subsidiaries, nor any director or officer thereof, nor, to the Company’s
Knowledge, any employee, agent, Affiliate or representative of the Company, is a Person that is, or is majority owned or controlled by
a Person that is (i) named on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List, the
Sectoral Sanctions Identification List, or any other similar list of sanctioned persons (collectively, “Sanction Lists”)
administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), or any similar
list of sanctioned persons administered by the European Union or any individual European Union member state, including the United Kingdom,
nor (ii) located, organized or resident of Crimea, Cuba, Iran, North Korea, Sudan or Syria, or any other country (each a “Sanction
Country” and collectively, “Sanction Countries”) or territory embargoed or subject to substantial
trade restrictions by the United States, the European Union or any individual European Union member state, including the United Kingdom.
Neither the Company nor any of its Subsidiaries will, directly or indirectly, use the proceeds from the sale of Shares under this Agreement,
or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person (a) to fund or
facilitate any activities or business of or with any Person or any Sanctioned Country, or (b) in any other manner that will result in
a violation of Sanction Lists by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor
or otherwise). Since June 1, 2017, neither the Company nor any of its Subsidiaries have knowingly engaged in, or are now knowingly engaged
in, any dealings or transactions with any Person that at the time of the dealing or transaction is or was the subject of Sanction Lists
or a Sanction Country.

 

Section 5.39      
U.S. Real Property Holding Corporation. Neither the Company nor any of its Subsidiaries is, or has ever been, a United
States real property holding corporation within the meaning of Section 897(c)(2) of the Code.

 

Section 5.40      
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering contemplated hereby, any beneficial owner of 20% or more of the Company’s
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405
under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act
(a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under
the Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event.

 

Section 5.41      
Stock Option Plans. Except as would not, individually or in the aggregate, be reasonably expected to have a Material
Adverse Effect, each stock option granted by the Company was granted (i) in accordance with the terms of the applicable stock option
plan of the Company and (ii) with an exercise price at least equal to the fair market value of the Class A Ordinary Shares on the date
such stock option would be considered granted under IFRS and applicable law. No stock option granted under the Company’s stock
option plan has been backdated. The Company has not knowingly granted, and there is no and has been no policy or practice of the Company
to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public
announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

 

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Section 5.42      
Acknowledgement Regarding Investor’s Acquisition of Securities. The Company acknowledges and agrees that the
Investor is acting solely in the capacity of an arm’s-length purchaser with respect to this Agreement and the transactions
contemplated by the Transaction Documents. The Company further acknowledges that the Investor is not acting as a financial advisor or
fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated by the Transaction
Documents, and any advice given by the Investor or any of its representatives or agents in connection therewith is merely incidental
to the Investor’s acquisition of the Securities. The Company further represents to the Investor that the Company’s decision
to enter into the Transaction Documents to which it is a party has been based solely on the independent evaluation of the transactions
contemplated thereby by the Company and its representatives. The Company acknowledges and agrees that the Investor has not made and does
not make any representations or warranties with respect to the transactions contemplated by the Transaction Documents other than those
specifically set forth in Article IV.

 

Section 5.43         Information
Technology; Compliance with Data Privacy Laws

 

(a)           Except
as disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate, have a
Material Adverse Effect, the Company’s and its Subsidiaries’ information technology (i) assets and equipment, (ii) computers,
(iii) systems, (iv) networks, (v) hardware, (vi) software, (vii) websites, (viii) applications, and (ix) databases (collectively, “IT
Systems”) operate and perform in all material respects as required in connection with the operation of the business of
the Company as currently conducted, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other
corruptants.

 

(b)           Except
as disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate, have a
Material Adverse Effect, the Company and its Subsidiaries have implemented and maintained commercially reasonable physical, technical
and administrative controls, policies, procedures, and safeguards to maintain and protect their material confidential information and
the integrity, continuous operation, redundancy and security of all IT Systems and data, including all Personal Data (defined below)
and all other sensitive, confidential or regulated data controlled by the Company and its Subsidiaries in connection with their businesses
(“Confidential Data”). “Personal Data” means, to the extent applicable to the Company’s
business, any information which would qualify as (i) “personally identifying information” under the Federal Trade Commission
Act, as amended; (ii) “personal data” as defined by the European Union General Data Protection Regulation (“GDPR”)
(EU 2016/679); (iii) “personal information” as defined by the California Consumer Privacy Act (“CCPA”)
or (iv) any other term of similar import as defined under any Privacy Law. “Privacy Laws” means applicable
state and federal data privacy and security laws and regulations, including, to the extent applicable, the CCPA and the GDPR.

 

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(c)           Except
as disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate, have a
Material Adverse Effect, to the Company’s Knowledge, there have been no breaches, violations, outages or unauthorized uses of or
accesses to any Personal Data controlled by the Company and its Subsidiaries, except for those that have been remedied without material
cost or liability or the duty to notify any other person, nor any incidents under internal review or investigations relating to the same.
Except as disclosed in the Commission Documents, and except as would not reasonably be expected to, individually or in the aggregate,
to have a Material Adverse Effect, the Company and its Subsidiaries are in compliance with all Privacy Laws, applicable judgments, orders
or rules of any court, arbitrator or governmental or regulatory authority, external policies and contractual obligations, in each case
to the extent relating to the privacy and security of IT Systems, Confidential Data, and Personal Data controlled by the Company and
its Subsidiaries in connection with their businesses and to the protection of such IT Systems, Confidential Data, and Personal Data from
unauthorized use, access, misappropriation or modification. Except as disclosed in the Commission Documents, and except as would not
reasonably be expected to, individually or in the aggregate, to have a Material Adverse Effect, neither the Company nor any of its Subsidiaries:
(i) has received written notice of any actual or potential violation of any of the Privacy Laws, or has any Knowledge of any event or
condition that would reasonably be expected to result in any such notice; (ii) is currently conducting or paying for, in whole or in
part, any investigation, remediation, or other corrective action pursuant to any violation of any Privacy Law; or (iii) is a party to
any order or decree that imposes any obligation or liability under any Privacy Law.

 

ARTICLE
VI

ADDITIONAL COVENANTS

 

The Company covenants with
the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other
party, during the Investment Period (and with respect to the Company, for the period following the termination of this Agreement specified
in Section 8.3 pursuant to and in accordance with Section 8.3):

 

Section 6.1          
Securities Compliance. The Company shall notify the Commission and the Trading Market, if and as applicable, in accordance
with their respective rules and regulations, of the transactions contemplated by the Transaction Documents, and shall take all necessary
action, undertake all proceedings and obtain all registrations, permits, consents and approvals for the legal and valid issuance of the
Securities to the Investor in accordance with the terms of the Transaction Documents, as applicable.

 

Section 6.2          
Reservation of Ordinary Shares. The Company has available and, the Company shall reserve and keep available at all
times, free of preemptive and other similar rights of shareholders, the requisite aggregate number of authorized but unissued Class A
Ordinary Shares to enable the Company to timely effect (i) the issuance and delivery of all Commitment Shares to be issued and delivered
to the Investor under Section 10.1(ii) hereof within the time period specified in Section 10.1(ii) hereof, and (ii) the issuance, sale
and delivery of all Shares to be issued, sold and delivered in respect of each VWAP Purchase effected under this Agreement, in the case
of clause (ii) at least prior to the delivery by the Company to the Investor of the applicable VWAP Purchase Notice in connection with
such VWAP Purchase. The number of Class A Ordinary Shares so reserved for issuance under this Agreement may be increased from time to
time by the Company from and after the Commencement Date, and such number of reserved shares may be reduced from and after the Commencement
Date only by the number of Shares actually issued, sold and delivered to the Investor pursuant to VWAP Purchases effected by the Company
from and after the Commencement Date pursuant to this Agreement.

 

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Section 6.3          
Registration and Listing. During the Investment Period, the Company shall use its commercially reasonable efforts to
cause the Class A Ordinary Shares to continue to be registered as a class of securities under Section 12(b) of the Exchange Act, and
to comply with its reporting and filing obligations under the Exchange Act, and shall not take any action or file any document (whether
or not permitted by the Securities Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its
reporting and filing obligations under the Exchange Act or Securities Act, except as permitted herein. The Company shall use its commercially
reasonable efforts to continue the listing and trading of its Class A Ordinary Shares and the listing of the Securities purchased by
the Investor hereunder on the Trading Market and to comply with the Company’s reporting, filing and other obligations under the
rules and regulations of the Trading Market. The Company shall not take any action which would be reasonably expected to result in the
delisting or suspension of the Class A Ordinary Shares on the Trading Market. If the Company receives any final and non-appealable notice
that the listing or quotation of the Class A Ordinary Shares on the Trading Market shall be terminated on a date certain, the Company
shall promptly (and in any case within 24 hours) notify the Investor of such fact in writing and shall use its commercially reasonable
efforts to cause the Class A Ordinary Shares to be listed or quoted on another Eligible Market.

 

Section 6.4          
Compliance with Laws.

 

(i)            During
the Investment Period, the Company shall comply with applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, applicable state securities or “Blue Sky” laws, and applicable listing rules of the Trading Market or Eligible
Market, in connection with the transactions contemplated by this Agreement and the Registration Rights Agreement, except as would not,
individually or in the aggregate, prohibit or otherwise interfere with the ability of the Company to enter into and perform its obligations
under this Agreement in any material respect or for Investor to conduct resales of Shares under the Registration Statement in any material
respect. Without limiting the foregoing, neither the Company, nor to the Knowledge of the Company, any of their respective directors,
officers, agents, employees or any other Persons acting on their behalf shall, in connection with the operation of the Company’s
business, (1) use any corporate funds for unlawful contributions, payments, gifts or entertainment or to make any unlawful expenditures
relating to political activity to government officials, candidates or members of political parties or organizations, (2) pay, accept
or receive any unlawful contributions, payments, expenditures or gifts, or (3) violate or operate in noncompliance with any export restrictions,
anti-boycott regulations, embargo regulations or other applicable domestic or foreign laws and regulations, including, without limitation,
the FCPA and the Money Laundering Laws.

 

(ii)           The
Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under this
Agreement and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere with
the ability of the Investor to enter into and perform its obligations under this Agreement in any material respect. Without limiting
the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, and all applicable state securities or “Blue Sky” laws, in connection with the transactions contemplated by
this Agreement and the Registration Rights Agreement.

 

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Section 6.5          
Keeping of Records and Books of Account; Due Diligence.

 

(i)            
During the Investment Period, the Investor and the Company shall each maintain records showing the remaining Total Commitment,
and the dates and VWAP Purchase Share Amount for each VWAP Purchase pursuant to this Agreement.

 

(ii)           Subject
to the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available for inspection
and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably requested by
the Investor and/or its appointed counsel or advisors to conduct due diligence; provided, however, that after the Closing
Date, the Investor’s continued due diligence shall not be a condition precedent to the Commencement or to the Investor’s
obligation to accept a VWAP Purchase Notice or settlement thereof timely delivered by the Company to the Investor in accordance with
this Agreement.

 

Section 6.6          
No Frustration; No Variable Rate Transactions.

 

(i)            No
Frustration. The Company shall not enter into, announce or recommend to its shareholders any agreement, plan, arrangement or
transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company
to perform its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation of the
Company to (i) deliver the Commitment Shares to the Investor not later than 4:00 p.m. (New York City time) on the third (3rd)
Trading Day immediately following the Closing Date, and (ii) deliver the Shares to the Investor in respect of a VWAP Purchase not later
than the applicable VWAP Purchase Exercise Date for such VWAP Purchase. For the avoidance of doubt, nothing in this Section 6.6(i) shall
in any way limit the Company’s right to terminate this Agreement in accordance with Section 8.2 (subject in all cases to Section 8.3).

 

(ii)           No
Variable Rate Transactions. The Company shall not effect or enter into an agreement to effect any issuance by the Company or
any of its Subsidiaries of Class A Ordinary Shares or Class A Ordinary Share Equivalents (or a combination of units thereof) involving
a Variable Rate Transaction, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief
against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages,
without the necessity of showing economic loss and without any bond or other security being required.

 

Section 6.7          
Corporate Existence. The Company shall take all steps necessary to preserve and continue the corporate existence of
the Company; provided, however, that, except as provided in Section 6.8, nothing in this Agreement shall be deemed to prohibit
the Company from engaging in any Fundamental Transaction with another Person. For the avoidance of doubt, nothing in this Section 6.7
shall in any way limit the Company’s right to terminate this Agreement in accordance with Section 8.2 (subject in all cases to
Section 8.3).

 

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Section 6.8          
Fundamental Transaction. If a VWAP Purchase Notice has been timely and properly delivered to the Investor for a VWAP
Purchase under this Agreement, but the payment for, against issuance and delivery as DWAC Shares to the Investor of, all of the Shares
constituting the full VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase has not been fully settled in accordance
with this Agreement, including, without limitation, Section 3.2 of this Agreement, the Company shall not effect any Fundamental Transaction
until the expiration of one (1) Trading Day following the later of (i) the VWAP Purchase Settlement Date for the VWAP Purchase to which
such VWAP Purchase Notice relates and (ii) such later Trading Day on which the payment for, against issuance and delivery as DWAC Shares
to the Investor of, all of such Shares constituting the entire VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase
shall have been fully settled in accordance with this Agreement, including, without limitation, Section 3.2 of this Agreement.

 

Section 6.9           Selling
Restrictions. The Investor covenants and agrees that commencing upon the execution of this Agreement on the Closing Date and
ending on the date of any termination of this Agreement pursuant to Section 8.1 or Section 8.2 (the “Restricted
Period”), neither the Investor nor any of its Affiliates nor any entity managed or controlled by the Investor (collectively,
the “Restricted Persons” and each of the foregoing is referred to herein as a “Restricted Person”)
shall, directly or indirectly, (i) engage in or effect any Short Sales of Class A Ordinary Shares or (ii) execute any stock
pledge, forward sales contract, option, put, call, swap or similar hedging arrangement (including on a total return basis), which establishes
a net short position with respect to the Class A Ordinary Shares. In addition to the foregoing, in connection with any resale of Securities
by the Investor, each of the Restricted Persons shall comply in all respects with all applicable laws, rules, regulations and orders,
including, without limitation, the applicable requirements of the Securities Act and the Exchange Act, including, without limitation,
Regulation SHO, and all orders of any regulatory authority applicable to any Restricted Person.

 

Section 6.10      
Effective Registration Statement. During the Investment Period, the Company shall use its commercially reasonable efforts
to maintain the continuous effectiveness of the Initial Registration Statement and each New Registration Statement filed with the Commission
under the Securities Act for the applicable Registration Period (as defined in the Registration Rights Agreement) pursuant to and in
accordance with the Registration Rights Agreement.

 

Section 6.11      
Blue Sky. The Company shall take such action, if any, as is necessary by the Company in order to obtain an exemption
for or to qualify the Securities for sale by the Company to the Investor pursuant to the Transaction Documents, and at the request of
the Investor, the subsequent resale of Registrable Securities by the Investor, in each case, under applicable state securities or “Blue
Sky” laws and shall provide evidence of any such action so taken to the Investor from time to time following the Closing Date;
provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify
to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 6.11, (y) subject itself
to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.

 

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Section 6.12      
Non-Public Information. Neither the Company nor any of its Subsidiaries, nor any of their respective directors, officers,
employees or agents shall disclose any material non-public information about the Company to the Investor, unless a simultaneous public
announcement thereof is made by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant
by the Company or any of its Subsidiaries, or any of their respective directors, officers, employees and agents (as determined in the
reasonable good faith judgment of the Investor), if the Investor is holding any Securities at the time of the disclosure of such material,
non-public information, (i) the Investor shall promptly provide written notice of such breach to the Company and (ii) after such notice
has been provided to the Company and, provided that the Company shall have failed to (a) publicly disclose such material, non-public
information within 24 hours following demand therefor by the Investor or (b) demonstrate to the Investor that such information does not
constitute material, non-public information, in addition to any other remedy provided herein or in the other Transaction Documents, the
Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement or otherwise, of such
material, non-public information without the prior approval by the Company, any of its Subsidiaries, or any of their respective directors,
officers, employees or agents. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective
directors, officers, employees, shareholders or agents, for any such disclosure.

 

Section 6.13      
Broker/Dealer. The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the Securities
that it may purchase or otherwise acquire from the Company pursuant to the Transaction Documents, as applicable, which shall be unaffiliated
with the Investor and not then currently engaged or used by the Company, and shall be a DTC participant (collectively, the “Broker-Dealer”).
The Investor shall, from time to time, provide the Company and its transfer agent with all information regarding the Broker-Dealer reasonably
requested by the Company. The Investor shall be solely responsible for all fees and commissions of the Broker-Dealer, which shall not
exceed customary brokerage fees and commissions and shall be responsible for designating only a DTC participant eligible to receive DWAC
Shares.

 

Section 6.14      
Disclosure Schedule.

 

(i)          The
Company may, from time to time, update the Disclosure Schedule as may be required to satisfy the conditions set forth in Section 7.2(i)
and Section 7.3(i) (to the extent such condition set forth in Section 7.3(i) relates to the condition in Section 7.2(i) as of a specific
VWAP Purchase Condition Satisfaction Time). For purposes of this Section 6.14, any disclosure made in a schedule to the Compliance Certificate
shall be deemed to be an update of the Disclosure Schedule. Notwithstanding anything in this Agreement to the contrary, no update to
the Disclosure Schedule pursuant to this Section 6.14 shall cure any breach of a representation or warranty of the Company contained
in this Agreement and made prior to the update and shall not affect any of the Investor’s rights or remedies with respect thereto.

 

(ii)         Notwithstanding
anything to the contrary contained in the Disclosure Schedule or in this Agreement, the information and disclosure contained in any Schedule
of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule of the Disclosure Schedule
as though fully set forth in such Schedule for which applicability of such information and disclosure is readily apparent on its face.
The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that such information is
required to be disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and the thresholds (whether
based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used as a basis for interpreting
the terms “material” or “Material Adverse Effect” or other similar terms in this Agreement.

 

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Section 6.15       
Delivery of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events. Within three (3)
Trading Days immediately following (i) the end of each PEA Period, if the Company is required under the Securities Act to file with the
Commission (A) a post-effective amendment to the Initial Registration Statement required to be filed by the Company with the Commission
pursuant to Section 2(a) of the Registration Rights Agreement, (B) a New Registration Statement required to be filed by the Company with
the Commission pursuant to Section 2(c) of the Registration Rights Agreement, or (C) a post-effective amendment to a New Registration
Statement required to be filed by the Company with the Commission pursuant to Section 2(c) of the Registration Rights Agreement, in each
case with respect to a fiscal year ending after the Commencement Date, to register the resale of Securities by the Investor under the
Securities Act pursuant to this Agreement and the Registration Rights Agreement, and (ii) the date the Company files with the Commission
(A) a Prospectus Supplement to the Prospectus contained in the Initial Registration Statement or any New Registration Statement under
the Securities Act, (B) an annual report on Form 20-F under the Exchange Act with respect to a fiscal year ending after the Commencement
Date, (C) an amendment on Form 20-F/A to an annual report on Form 20-F under the Exchange Act with respect to a fiscal year ending after
the Commencement Date, which contains amended material financial information (or a restatement of material financial information) or
an amendment to other material information contained in a previously filed Form 20-F, and (D) a Commission Document under the Exchange
Act (other than those referred to in clauses (ii)(A) and (ii)(B) of this Section 6.15), which contains amended material financial information
(or a restatement of material financial information) or an amendment to other material information contained or incorporated by reference
in the Initial Registration Statement, any New Registration Statement, or the Prospectus or any Prospectus Supplement contained in the
Initial Registration Statement or any New Registration Statement (it being hereby acknowledged and agreed that the filing by the Company
with the Commission of a report on Form 6-K that includes only updated financial information as of the end of the Company’s most
recent fiscal quarter shall not, in and of itself, constitute an “amendment” or “restatement” for purposes of
clause (ii) of this Section 6.15), in each case of this clause (ii) if the Company is not also then required under the Securities Act
to file a post-effective amendment to the Initial Registration Statement, any New Registration Statement or a post-effective amendment
to any New Registration Statement, in each case with respect to a fiscal year ending after the Commencement Date, to register the resale
of Securities by the Investor under the Securities Act pursuant to this Agreement and the Registration Rights Agreement, and in any case
of this clause (ii), not more than once per calendar quarter, the Company shall (I) deliver to the Investor a Compliance Certificate,
dated such date, and (II) cause to be furnished to the Investor an opinion and negative assurance “bring down” from outside
counsel to the Company substantially in the form mutually agreed to by the Company and the Investor prior to the date of this Agreement,
modified, as necessary, to relate to such Registration Statement or post-effective amendment, or the Prospectus contained therein as
then amended or supplemented by such Prospectus Supplement, as applicable (each such opinion, a “Bring Down Opinion”).

 

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ARTICLE
VII

CONDITIONS TO CLOSING, COMMENCEMENT AND VWAP PURCHASES

 

Section 7.1          
Conditions Precedent to Closing. The Closing is subject to the satisfaction of each of the conditions set forth in
this Section 7.1 on the Closing Date.

 

(i)            Accuracy
of the Investor’s Representations and Warranties. The representations and warranties of the Investor contained in this
Agreement (a) that are not qualified by “materiality” shall be true and correct in all material respects as of the Closing
Date, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties
shall be true and correct in all material respects as of such other date and (b) that are qualified by “materiality” shall
be true and correct as of the Closing Date, except to the extent such representations and warranties are as of another date, in which
case, such representations and warranties shall be true and correct as of such other date.

 

(ii)           Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” shall be true and correct in all material
respects as of the Closing Date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by
 “materiality” or “Material Adverse Effect” shall be true and correct as of the Closing Date, except to the extent
such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct
as of such other date.

 

(iii)          Issuance
of Commitment Shares / Payment of Investor Expense Reimbursement. On the Closing Date (unless another time shall be agreed by
the Investor and the Company), subject to the receipt of the Commitment Shares Nominal Value Payment as described in Section 10.1(ii),
the Company shall have delivered irrevocable instructions to its transfer agent to issue to the Investor, not later than 4:00 p.m. (New
York City time) on the third (3rd) Trading Day immediately following the Closing Date, a book-entry statement representing
the Commitment Shares in the name of the Investor or its designee (in which case such designee name shall have been provided to the Company
prior to the Closing Date), in consideration for the Investor’s execution and delivery of this Agreement. A book-entry statement
shall be promptly delivered by email or such other method of delivery as is customary for the Company’s transfer agent. For the
avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Closing Date, regardless of whether the Commencement
shall occur, or any VWAP Purchases are made or settled hereunder or any subsequent termination. Additionally, upon receipt of the reasonable
and documented expenses in accordance with Section 10.1(i) of this Agreement, the Company shall pay the Investor Expense Reimbursement
to the Investor pursuant to Section 10.1(i) of this Agreement.

 

(iv)          Closing
Deliverables. At the Closing, counterpart signature pages of this Agreement and the Registration Rights Agreement executed by
each of the parties hereto shall be delivered as provided in Section 2.2. Simultaneously with the execution and delivery of this Agreement
and the Registration Rights Agreement, the Investor’s counsel shall have received (a) the opinions of outside counsel to the
Company, dated the Closing Date, in the forms mutually agreed to by the Company and the Investor prior to the date of this Agreement,
(b) a copy of the irrevocable instructions to the Company’s transfer agent regarding the issuance to the Investor or its designee
of the book-entry statement(s) representing the Commitment Shares pursuant to and in accordance with Section 10.1(ii) hereof, and (c)
the closing certificate from the Company, dated the Closing Date, in the form of Exhibit C hereto.

 

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(v)           No
Material Adverse Effect. There shall have been no Material Adverse Effect with respect to the Company since the date hereof.

 

Section 7.2          
Conditions Precedent to Commencement. The right of the Company to commence delivering VWAP Purchase Notices under this
Agreement, and the obligation of the Investor to accept VWAP Purchase Notices delivered to the Investor by the Company under this Agreement,
are subject to the initial satisfaction, at Commencement, of each of the conditions set forth in this Section 7.2.

 

(i)            Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” shall have been true and correct in
all material respects when made and shall be true and correct in all material respects as of the Commencement Date with the same force
and effect as if made on such date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by
 “materiality” or “Material Adverse Effect” shall have been true and correct when made and shall be true and correct
as of the Commencement Date with the same force and effect as if made on such date, except to the extent such representations and warranties
are as of another date, in which case, such representations and warranties shall be true and correct as of such other date.

 

(ii)           Performance
of the Company. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company
at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially
in the form attached hereto as Exhibit D (the “Compliance Certificate”).

 

(iii)          Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein required to be filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights Agreement
shall have been declared effective under the Securities Act by the Commission, and the Investor shall be permitted to utilize the Prospectus
therein to resell (a) all of the Commitment Shares and (b) all of the Shares included in such Prospectus.

 

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(iv)          No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the Commission
or any other Governmental Authority for any additional information relating to the Initial Registration Statement, the Prospectus contained
therein or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration Statement, the Prospectus
contained therein or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other Governmental Authority of any
stop order suspending the effectiveness of the Initial Registration Statement or prohibiting or suspending the use of the Prospectus
contained therein or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from qualification of the
Securities for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose;
or (c) the occurrence of any event or the existence of any condition or state of facts, which makes any statement of a material fact
made in the Initial Registration Statement, the Prospectus contained therein or any Prospectus Supplement thereto untrue or which requires
the making of any additions to or changes to the statements then made in the Initial Registration Statement, the Prospectus contained
therein or any Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or
necessary in order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in light of
the circumstances under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement or
a supplement to the Prospectus contained therein or any Prospectus Supplement thereto to comply with the Securities Act or any other
law. The Company shall have no Knowledge of any event that could reasonably be expected to have the effect of causing the suspension
of the effectiveness of the Initial Registration Statement or the prohibition or suspension of the use of the Prospectus contained therein
or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by the Investor.

 

(v)           Other
Commission Filings. The Current Report and the Form D shall have been filed with the Commission as required pursuant to Section
2.3. The final Prospectus included in the Initial Registration Statement shall have been filed with the Commission prior to Commencement
in accordance with Section 2.3 and the Registration Rights Agreement. All reports, schedules, registrations, forms, statements, information
and other documents required to have been filed by the Company with the Commission pursuant to the reporting requirements of the Exchange
Act, including all material required to have been filed pursuant to Section 13(a) or 15(d) of the Exchange Act, prior to Commencement
shall have been filed with the Commission.

 

(vi)          No
Suspension of Trading in or Notice of Delisting of Class A Ordinary Shares. Trading in the Class A Ordinary Shares shall not
have been suspended by the Commission, the Trading Market or FINRA (except for any suspension of trading that is terminated prior to
the Commencement Date), the Company shall not have received any final and non-appealable notice that the listing or quotation of the
Class A Ordinary Shares on the Trading Market shall be terminated on a date certain (unless, prior to such date certain, the Class A
Ordinary Shares are listed or quoted on any other Eligible Market), nor shall there have been imposed any suspension of, or restriction
on, accepting additional deposits of Class A Ordinary Shares, electronic trading or book-entry services by DTC with respect to the Class
A Ordinary Shares that are continuing, the Company shall not have received any notice from DTC to the effect that a suspension of, or
restriction on, accepting additional deposits of Class A Ordinary Shares, electronic trading or book-entry services by DTC with respect
to Class A Ordinary Shares are being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified
the Company in writing that DTC has determined not to impose any such suspension or restriction).

 

(vii)         Compliance
with Laws. The Company shall have complied with all applicable federal, state and local governmental laws, rules, regulations
and ordinances in connection with the execution, delivery and performance of this Agreement and the other Transaction Documents to which
it is a party and the consummation of the transactions contemplated hereby and thereby, including, without limitation, the Company shall
have obtained all permits and qualifications required by any applicable state securities or “Blue Sky” laws for the offer
and sale of the Securities by the Company to the Investor and the subsequent resale of the Registrable Securities by the Investor (or
shall have the availability of exemptions therefrom).

 

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(viii)        No
Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered, promulgated,
threatened or endorsed by any court or Governmental Authority of competent jurisdiction which prohibits the consummation of or which
would materially modify or delay any of the transactions contemplated by the Transaction Documents.

 

(ix)           No
Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any court or Governmental Authority shall have
been commenced, and no inquiry or investigation by any Governmental Authority shall have been commenced, against the Company or any Subsidiary,
or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions
contemplated by the Transaction Documents, or seeking material damages in connection with such transactions.

 

(x)            Listing
of Securities. All of the Securities that have been and may be issued pursuant to this Agreement shall have been approved for
listing or quotation on the Trading Market (or on an Eligible Market) as of the Commencement Date, subject only to notice of issuance.

 

(xi)           No
Material Adverse Effect. No condition, occurrence, state of facts or event constituting a Material Adverse Effect shall have
occurred and be continuing.

 

(xii)         
No Bankruptcy Proceedings. No Person shall have commenced a proceeding against the Company pursuant to or within
the meaning of any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced
a voluntary case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment
of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its
creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief
against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property,
or (III) orders the liquidation of the Company or any of its Subsidiaries.

 

(xiii)       
Commitment Shares Issued as DWAC Shares. The Company shall have caused the Company’s transfer agent to credit
the Investor’s or its designee’s account at DTC as DWAC Shares such number of Class A Ordinary Shares equal to the number
of Commitment Shares issued to the Investor pursuant to Section 10.1(ii) hereof, in accordance with Section 10.1(iv) hereof.

 

(xiv)        
Delivery of Commencement Irrevocable Transfer Agent Instructions and Notice of Effectiveness. The Commencement Irrevocable
Transfer Agent Instructions shall have been executed by the Company and delivered to, and acknowledged in writing by, the Company’s
transfer agent, and the Notice of Effectiveness relating to the Initial Registration Statement shall have been executed by the Company’s
outside counsel and delivered to the Company’s transfer agent, in each case directing the Company’s transfer agent to issue
to the Investor or its designated Broker-Dealer all of the Commitment Shares and Shares included in the Initial Registration Statement
as DWAC Shares in accordance with this Agreement and the Registration Rights Agreement.

 

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(xv)          
Reservation of Shares. As of the Commencement Date, the Company shall have reserved out of its authorized and unissued
Class A Ordinary Shares, 21,428,571 Class A Ordinary Shares solely for the purpose of effecting VWAP Purchases under this Agreement.

 

(xvi)        
Opinions and Bring-Down Opinions of Company Counsel. On the Commencement Date, the Investor shall have received
the opinions, bring-down opinions and negative assurances from outside counsel to the Company, dated the Commencement Date, in the forms
mutually agreed to by the Company and the Investor prior to the date of this Agreement.

 

Section 7.3          
Conditions Precedent to VWAP Purchases after Commencement Date. The right of the Company to deliver a VWAP Purchase
Notice under this Agreement after the Commencement Date, and the obligation of the Investor to accept a VWAP Purchase Notice delivered
to the Investor by the Company under this Agreement after the Commencement Date, are subject to the satisfaction of each of the conditions
set forth in this Section 7.3 at the applicable VWAP Purchase Condition Satisfaction Time for the VWAP Purchase to be effected by such
VWAP Purchase Notice.

 

(i)            Satisfaction
of Certain Prior Conditions. Each of the conditions set forth in subsections (i), (ii), and (vii) through (xiii) set forth in
Section 7.2 shall be satisfied at each VWAP Purchase Condition Satisfaction Time after the Commencement Date (with the terms “Commencement”
and “Commencement Date” in the conditions set forth in subsections (i) and (ii) of Section 7.2 replaced with “applicable
VWAP Purchase Condition Satisfaction Time”); provided, however, that the Company shall not be required to deliver
the Compliance Certificate after the Commencement Date, except as provided in Section 6.15 and Section 7.3(x).

 

(ii)           Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights Agreement, and any post-effective
amendment thereto required to be filed by the Company with the Commission after the Commencement Date and prior to the applicable VWAP
Purchase Condition Satisfaction Time pursuant to the Registration Rights Agreement, in each case shall have been declared effective under
the Securities Act by the Commission and shall remain effective for the applicable Registration Period, and the Investor shall be permitted
to utilize the Prospectus therein, and any Prospectus Supplement thereto, to resell (a) all of the Commitment Shares, (b) all of the
Shares included in the Initial Registration Statement, and any post-effective amendment thereto, that have been issued and sold to the
Investor hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to the delivery of the applicable
VWAP Purchase Notice on the applicable VWAP Purchase Exercise Date, and (c) all of the Shares included in the Initial Registration Statement,
and any post-effective amendment thereto, that are issuable pursuant to the applicable VWAP Purchase Notice delivered by the Company
to the Investor for a VWAP Purchase in accordance with this Agreement.

 

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(iii)          
Any Required New Registration Statement Effective. Any New Registration Statement covering the resale by the Investor
of the Registrable Securities included therein, and any post- effective amendment thereto, required to be filed by the Company with the
Commission pursuant to the Registration Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Condition
Satisfaction Time, in each case shall have been declared effective under the Securities Act by the Commission and shall remain effective
for the applicable Registration Period, and the Investor shall be permitted to utilize the Prospectus therein, and any Prospectus Supplement
thereto, to resell (a) all of the Commitment Shares (if any) included in such New Registration Statement, and any post-effective amendment
thereto, (b) all of the Shares included in such New Registration Statement, and any post-effective amendment thereto, that have been
issued and sold to the Investor hereunder pursuant to all VWAP Purchase Notices delivered by the Company to the Investor prior to the
delivery of the applicable VWAP Purchase Notice on the applicable VWAP Purchase Exercise Date, and (c) all of the Shares included in
such new Registration Statement, and any post-effective amendment thereto, that are issuable pursuant the applicable VWAP Purchase Notice
delivered by the Company to the Investor for a VWAP Purchase in accordance with this Agreement.

 

(iv)          Delivery
of Subsequent Irrevocable Transfer Agent Instructions and Notice of Effectiveness. With respect to any post-effective amendment
to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration Statement,
in each case declared effective by the Commission after the Commencement Date, the Company shall have delivered or caused to be delivered
to its transfer agent (a) irrevocable instructions in the form substantially similar to the Commencement Irrevocable Transfer Agent Instructions
executed by the Company and acknowledged in writing by the Company’s transfer agent and (b) the Notice of Effectiveness, in each
case modified as necessary to refer to such Registration Statement or post-effective amendment and the Registrable Securities included
therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with the terms of this Agreement and the Registration
Rights Agreement.

 

(v)           No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the Commission
or any other Governmental Authority for any additional information relating to the Initial Registration Statement or any post-effective
amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of
the foregoing or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration Statement or any
post-effective amendment thereto, any New Registration Statement or any post- effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other Governmental Authority
of any stop order suspending the effectiveness of the Initial Registration Statement or any post-effective amendment thereto, any
New Registration Statement or any post-effective amendment thereto, or prohibiting or suspending the use of the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from qualification of
the Securities for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose;
or (c) the occurrence of any event or the existence of any condition or state of facts, which makes any statement of a material fact
made in the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or any post- effective
amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto untrue or which requires
the making of any additions to or changes to the statements then made in the Initial Registration Statement or any post-effective amendment
thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing
or any Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or necessary
in order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in light of the circumstances
under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement or any post-effective
amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of the
foregoing or any Prospectus Supplement thereto to comply with the Securities Act or any other law (other than the transactions contemplated
by the applicable VWAP Purchase Notice delivered by the Company to the Investor with respect to a VWAP Purchase to be effected hereunder).
The Company shall have no Knowledge of any event that could reasonably be expected to have the effect of causing the suspension of the
effectiveness of the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or any
post-effective amendment thereto, or the prohibition or suspension of the use of the Prospectus contained in any of the foregoing
or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by the Investor.

 

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(vi)          Other
Commission Filings. The final Prospectus included in any post-effective amendment to the Initial Registration Statement,
and any Prospectus Supplement thereto, required to be filed by the Company with the Commission pursuant to Section 2.3 and the Registration
Rights Agreement after the Commencement Date and prior to the applicable VWAP Purchase Condition Satisfaction Time shall have been filed
with the Commission in accordance with Section 2.3 and the Registration Rights Agreement. The final Prospectus included in any New Registration
Statement and in any post-effective amendment thereto, and any Prospectus Supplement thereto, required to be filed by the Company with
the Commission pursuant to Section 2.3 and the Registration Rights Agreement after the Commencement Date and prior to the applicable
VWAP Purchase Condition Satisfaction Time shall have been filed with the Commission in accordance with Section 2.3 and the Registration
Rights Agreement. All reports, schedules, registrations, forms, statements, information and other documents required to have been filed
by the Company with the Commission pursuant to the reporting requirements of the Exchange Act, including all material required to have
been filed pursuant to Section 13(a) or 15(d) of the Exchange Act, after the Commencement Date and prior to the applicable VWAP Purchase
Condition Satisfaction Time shall have been filed with the Commission and, if any Registrable Securities are covered by a Registration
Statement on Form F-3, such filings shall have been made within the applicable time period prescribed for such filing under the Exchange
Act.

 

(vii)         
No Suspension of Trading in or Notice of Delisting of Class A Ordinary Shares. Trading in the Class A Ordinary Shares
shall not have been suspended by the Commission, the Trading Market or FINRA (except for any suspension of trading that is terminated
prior to the applicable VWAP Purchase Condition Satisfaction Time), the Company shall not have received any final and non-appealable
notice that the listing or quotation of the Class A Ordinary Shars on the Trading Market shall be terminated on a date certain (unless,
prior to such date certain, the Class A Ordinary Shares are listed or quoted on any other Eligible Market), nor shall there have been
imposed any suspension of, or restriction on, accepting additional deposits of the Class A Ordinary Shares, electronic trading or book-entry
services by DTC with respect to the Class A Ordinary Shares that is continuing, the Company shall not have received any notice from DTC
to the effect that a suspension of, or restriction on, accepting additional deposits of the Class A Ordinary Shares, electronic trading
or book-entry services by DTC with respect to the Class A Ordinary Shares is being imposed or is contemplated (unless, prior to such
suspension or restriction, DTC shall have notified the Company in writing that DTC has determined not to impose any such suspension or
restriction).

 

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(viii)       
Certain Limitations. The issuance and sale of the Shares issuable pursuant to the applicable VWAP Purchase Notice
shall not (a) exceed the applicable VWAP Purchase Maximum Amount, or (b) cause the Total Commitment or the Beneficial Ownership Limitation
to be exceeded.

 

(ix)           Shares
Authorized and Delivered. All of the Shares issuable pursuant to the applicable VWAP Purchase Notice shall have been duly authorized
by all necessary corporate action of the Company. The Company shall have delivered to the Investor (or its designated Broker-Dealer),
and the Investor (or its designated Broker-Dealer) shall have received, all Shares relating to all prior VWAP Purchase Notices as DWAC
Shares.

 

(x)            Opinions
and Bring-Down Opinions of Company Counsel. The Investor shall have received (a) all Bring Down Opinions from the Company’s
outside counsel for which the Company was obligated to instruct its outside counsel to deliver to the Investor prior to the applicable
VWAP Purchase Condition Satisfaction Time and (b) all Compliance Certificates from the Company that the Company was obligated to deliver
to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time in accordance with Section 6.15.

 

ARTICLE
VIII

TERMINATION

 

Section 8.1          
Automatic Termination. Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically
on the earliest to occur of (i) the first day of the month next following the 24-month anniversary of the Closing Date, (ii) the date
on which the Investor shall have purchased the Total Commitment worth of Shares pursuant to this Agreement, (iii) the date on which
the Class A Ordinary Shares shall have failed to be listed or quoted on the Trading Market or any Eligible Market, (iv) the date on which,
pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding
against the Company, in each case that is not discharged or dismissed within thirty (30) days, and (v) the date on which, pursuant to
or within the meaning of any Bankruptcy Law, a Custodian is appointed for the Company or for all or substantially all of its property,
or the Company makes a general assignment for the benefit of its creditors.

 

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Section 8.2          
Other Termination. Subject to Section 8.3, the Company may terminate this Agreement after the Commencement Date effective
upon one (1) Trading Day’s prior written notice to the Investor in accordance with Section 10.4; provided, however, that (i) the
Company shall have issued all Commitment Shares to the Investor and shall have paid the Investor Expense Reimbursement required to be
paid to the Investor pursuant to Section 10.1(i) of this Agreement, in each case prior to such termination, and (ii) prior to issuing
any press release, or making any public statement or announcement, with respect to such termination, the Company shall consult with the
Investor and its counsel on the form and substance of such press release or other disclosure. Subject to Section 8.3, this Agreement
may be terminated at any time by the mutual written consent of the parties, effective as of the date of such mutual written consent unless
otherwise provided in such written consent. Subject to Section 8.3, the Investor shall have the right to terminate this Agreement effective
upon one (1) Trading Day’s prior written notice to the Company in accordance with Section 10.4, if: (a) any condition, occurrence,
state of facts or event constituting a Material Adverse Effect has occurred and is continuing; (b) a Fundamental Transaction shall have
occurred; (c) the Initial Registration Statement and any New Registration Statement is not filed by the applicable Filing Deadline therefor,
or the Company is otherwise in breach or default in any material respect under any of the other provisions of the Registration Rights
Agreement, and, if such failure, breach or default is capable of being cured, such failure, breach or default is not cured within ten
(10) Trading Days after notice of such failure, breach or default (describing such failure, breach or default with reasonable particularity)
is delivered to the Company pursuant to Section 10.4; (d) while a Registration Statement, or any post-effective amendment thereto, is
required to be maintained effective pursuant to the terms of the Registration Rights Agreement and the Investor holds any Registrable
Securities, the effectiveness of such Registration Statement, or any post-effective amendment thereto, lapses for any reason (including,
without limitation, the issuance of a stop order by the Commission) or such Registration Statement or any post-effective amendment thereto,
the Prospectus contained therein or any Prospectus Supplement thereto otherwise becomes unavailable to the Investor for the resale of
all of the Registrable Securities included therein in accordance with the terms of the Registration Rights Agreement, and such lapse
or unavailability continues for a period of thirty (30) consecutive Trading Days or for more than an aggregate of one hundred twenty
(120) Trading Days in any 365-day period, other than due to acts of the Investor; (e) trading in the Class A Ordinary Shares on the Trading
Market (or if the Class A Ordinary Shares are then listed on an Eligible Market, trading in the Class A Ordinary Shares on such Eligible
Market) shall have been suspended and such suspension continues for a period of three (3) consecutive Trading Days; or (f) the Company
is in material breach or default of this Agreement, and, if such breach or default is capable of being cured, such breach or default
is not cured within ten (10) Trading Days after notice of such breach or default is delivered to the Company pursuant to Section 10.4.
Unless notification thereof is required elsewhere in this Agreement (in which case such notification shall be provided in accordance
with such other provision), the Company shall promptly (but in no event later than 24 hours) notify the Investor (and, if required under
applicable law, including, without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations
of the Trading Market, the Company shall publicly disclose such information in accordance with Regulation FD and the applicable rules
and regulations of the Trading Market) upon becoming aware of any of the events set forth in the immediately preceding sentence.

 

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Section 8.3          
Effect of Termination. In the event of termination by the Company or the Investor (other than by mutual termination)
pursuant to Section 8.2, written notice thereof shall forthwith be given to the other party as provided in Section 10.4 and the transactions
contemplated by this Agreement shall be terminated without further action by either party. If this Agreement is terminated as provided
in Section 8.1 or Section 8.2, this Agreement shall become void and of no further force and effect, except that (i) the provisions of
Article V (Representations, Warranties and Covenants of the Company), Article IX (Indemnification), Article X (Miscellaneous) and this
Article VIII (Termination) shall remain in full force and effect indefinitely notwithstanding such termination, and, (ii) so long as
the Investor owns any Securities, the covenants and agreements of the Company contained in Article VI (Additional Covenants) shall remain
in full force and notwithstanding such termination for a period of six (6) months following such termination. Notwithstanding anything
in this Agreement to the contrary, no termination of this Agreement by any party shall (w) become effective prior to the first (1st)
Trading Day immediately following the applicable VWAP Purchase Settlement Date related to any pending VWAP Purchase Notice that has not
been fully settled in accordance with the terms and conditions of this Agreement (it being hereby acknowledged and agreed that no termination
of this Agreement shall limit, alter, modify, change or otherwise affect any of the Company’s or the Investor’s rights or
obligations under the Transaction Documents with respect to any pending VWAP Purchase, and that the parties shall fully perform their
respective obligations with respect to any such pending VWAP Purchase under the Transaction Documents), (x) limit, alter, modify, change
or otherwise affect the Company’s or the Investor’s rights or obligations under the Registration Rights Agreement, all of
which shall survive any such termination, (y) affect the Investor Expense Reimbursement payable to the Investor, all of which fees and
expenses shall be non-refundable when paid on the date of this Agreement pursuant to Section 10.1(i), regardless of whether the Commencement
shall occur or whether any VWAP Purchases are made or settled hereunder or any subsequent termination of this Agreement, or (z) affect
any Commitment Shares previously issued or delivered, or any rights of any holder thereof, it being hereby acknowledged and agreed that
all of the Commitment Shares shall be fully earned as of the Closing Date, regardless of whether the Commencement shall occur or whether
any VWAP Purchases are made or settled hereunder or any subsequent termination of this Agreement. Nothing in this Section 8.3 shall be
deemed to release the Company or the Investor from any liability for any breach or default under this Agreement or any of the other Transaction
Documents to which it is a party, or to impair the rights of the Company and the Investor to compel specific performance by the other
party of its obligations under the Transaction Documents to which it is a party.

 

ARTICLE
IX

INDEMNIFICATION

 

Section 9.1          
Indemnification of Investor. In consideration of the Investor’s execution and delivery of this Agreement and
acquiring the Securities hereunder and in addition to all of the Company’s other obligations under the Transaction Documents to
which it is a party, subject to the provisions of this Section 9.1, the Company shall indemnify and hold harmless the Investor, each
of its directors, officers, shareholders, members, partners, employees, representatives, agents and advisors (and any other Persons with
a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title), each Person,
if any, who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act), and
the respective directors, officers, shareholders, members, partners, employees, representatives, agents and advisors (and any other Persons
with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) of such
controlling Persons (each, an “Investor Party”), from and against all losses, liabilities, obligations, claims,
contingencies, damages, costs and expenses (including all judgments, amounts paid in settlement, court costs, reasonable attorneys’
fees and costs of defense and investigation) (collectively, “Damages”) that any Investor Party may suffer or
incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the
Company in this Agreement, the Registration Rights Agreement or in the other Transaction Documents to which it is a party or (b) any
action, suit, claim or proceeding (including for these purposes a derivative action brought on behalf of the Company) instituted against
such Investor Party arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents,
other than claims for indemnification within the scope of Section 6 of the Registration Rights Agreement; provided, however,
that (x) the foregoing indemnity shall not apply to any Damages to the extent, but only to the extent, that such Damages resulted directly
and primarily from a breach of any of the Investor’s representations, warranties, covenants or agreements contained in this Agreement
or the Registration Rights Agreement, and (y) the Company shall not be liable under subsection (b) of this Section 9.1 to the extent,
but only to the extent, that a court of competent jurisdiction shall have determined by a final judgment (from which no further appeals
are available) that such Damages resulted directly and primarily from any acts or failures to act, undertaken or omitted to be taken
by such Investor Party through its fraud, bad faith, gross negligence, or willful or reckless misconduct.

 

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The Company shall reimburse
any Investor Party promptly upon demand (with accompanying presentation of documentary evidence) for all legal and other costs and expenses
reasonably incurred by such Investor Party in connection with (i) any action, suit, claim or proceeding, whether at law or in equity,
to enforce compliance by the Company with any provision of the Transaction Documents or (ii) any other any action, suit, claim or proceeding,
whether at law or in equity, with respect to which it is entitled to indemnification under this Section 9.1; provided that the
Investor shall promptly reimburse the Company for all such legal and other costs and expenses to the extent a court of competent jurisdiction
determines that any Investor Party was not entitled to such reimbursement.

 

An Investor Party’s
right to indemnification or other remedies based upon the representations, warranties, covenants and agreements of the Company set forth
in the Transaction Documents shall not in any way be affected by any investigation or knowledge of such Investor Party. Such representations,
warranties, covenants and agreements shall not be affected or deemed waived by reason of the fact that an Investor Party knew or should
have known that any representation or warranty might be inaccurate or that the Company failed to comply with any agreement or covenant.
Any investigation by such Investor Party shall be for its own protection only and shall not affect or impair any right or remedy hereunder.

 

To the extent that the foregoing
undertakings by the Company set forth in this Section 9.1 may be unenforceable for any reason, the Company shall make the maximum contribution
to the payment and satisfaction of each of the Damages which is permissible under applicable law.

 

Section 9.2          
Indemnification Procedures. Promptly after an Investor Party receives notice of a claim or the commencement of an action
for which the Investor Party intends to seek indemnification under Section 9.1, the Investor Party will notify the Company in writing
of the claim or commencement of the action, suit or proceeding; provided, however, that failure to notify the Company will
not relieve the Company from liability under Section 9.1, except to the extent it has been materially prejudiced by the failure to give
notice. The Company may (but will not be required to) assume the defense against the claim, action, suit or proceeding with counsel satisfactory
to it. After the Company notifies the Investor Party that the Company wishes to assume the defense of a claim, action, suit or proceeding,
the Company will not be liable for any further legal or other expenses incurred by the Investor Party in connection with the defense
against the claim, action, suit or proceeding except that if, in the opinion of counsel to the Investor Party, it would be inappropriate
under the applicable rules of professional responsibility for the same counsel to represent both the Company and such Investor Party.
In such event, the Company will pay the reasonable fees and expenses of no more than one separate counsel for all such Investor Parties
promptly as such fees and expenses are incurred. Each Investor Party, as a condition to receiving indemnification as provided in Section
9.1, will cooperate in all reasonable respects with the Company in the defense of any action or claim as to which indemnification is
sought. The Company will not be liable for any settlement of any action effected without its prior written consent, which consent shall
not be unreasonably withheld, delayed or conditioned. The Company will not, without the prior written consent of the Investor Party,
effect any settlement of a pending or threatened action with respect to which an Investor Party is, or is informed that it may be, made
a party and for which it would be entitled to indemnification, unless the settlement includes an unconditional release of the Investor
Party from all liability and claims which are the subject matter of the pending or threatened action.

 

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The remedies provided for
in this Article IX are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Investor Party
at law or in equity.

 

ARTICLE
X

MISCELLANEOUS

 

Section 10.1      
Certain Fees and Expenses; Commitment Shares; Commencement Irrevocable Transfer Agent Instructions.

 

(i)           Certain
Fees and Expenses. Each party shall bear its own fees and expenses related to the transactions contemplated by this Agreement;
provided, however, that the Company shall pay, on or prior to the Closing Date, upon receipt of the Investor’s reasonable
and documented out-of-pocket expenses (including the Investor’s legal fees and expenses), by wire transfer of immediately available
funds to an account designated by the Investor on or prior to the Closing Date, an aggregate amount up to $75,000 as reimbursement for
the Investor’s reasonable and documented out-of-pocket expenses (including the Investor’s legal fees and expenses), in connection
with the transaction contemplated by the Transaction Documents (the “Investor Expense Reimbursement”). In addition,
the Company shall pay, by wire transfer of immediately available funds to an account designated by the Investor, an aggregate amount
of $5,000 as reimbursement for the review of the Initial Registration Statement by the Investor’s counsel. For the avoidance of
doubt, the Investor Expense Reimbursement shall be non-refundable when paid in accordance with this Section 10.1(i), regardless of whether
the Commencement shall occur or whether any VWAP Purchases are made or settled hereunder or any subsequent termination of this Agreement.
The Company shall pay all U.S. federal, state and local stamp and other similar transfer and other Taxes and duties levied in connection
with issuance of the Securities pursuant hereto.

 

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(ii)          Commitment
Shares. In consideration for the Investor’s execution and delivery of this Agreement, on the Closing Date, (1) not later
than 3:30 p.m. New York City time (unless another time shall be agreed by the Investor and the Company), the Investor shall pay to the
Company an amount in cash in Dollars by wire transfer in immediately available funds equal to the product of (x) the product of (i) the
total number of Commitment Shares and (ii) €0.12 and (y) the exchange rate between Dollars and Euros in effect on such VWAP Purchase
Exercise Date as published by the United States Federal Reserve Board plus an additional 10% of such calculated amount to account for
possible changes in the exchange rate between Dollars and Euros (the “Commitment Shares Nominal Value Payment”)
and (2) the Company shall deliver irrevocable instructions to its transfer agent to issue to the Investor one or more book-entry statement(s)
representing the Commitment Shares in the name of the Investor or its designee (in which case such designee name shall have been provided
to the Company prior to the Closing Date) promptly upon receipt of the Commitment Shares Nominal Value Payment. For the avoidance of
doubt, assuming receipt of the Commitment Shares Nominal Value Payment, the Company’s transfer agent shall issue the Commitment
Shares not later than 4:00 p.m. (New York City time) on the third (3rd) Trading Day immediately following the Closing Date.
An amount equal to the Commitment Shares Nominal Value Payment will be deducted from the proceeds payable to the Company for the first
VWAP Purchase on the first VWAP Purchase Settlement Date. The Commitment Shares shall be issued in book-entry form and a book-entry statement
shall be promptly delivered by email or such other method of delivery as is customary for the Company’s transfer agent. For the
avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Closing Date regardless of whether any VWAP Purchases
are issued by the Company or settled hereunder or any termination of this Agreement. Upon issuance, the Commitment Shares shall constitute
 “restricted securities” as such term is defined in Rule 144(a)(3) under the Securities Act and, subject to the provisions
of subsection (iv) of this Section 10.1, the certificate or book-entry statement representing the Commitment Shares shall bear the restrictive
legend set forth below in subsection (iii) of this Section 10.1. The Commitment Shares shall constitute Registrable Securities and shall
be included in the Initial Registration Statement and any post-effective amendment thereto, and the Prospectus included therein and,
if necessary to register the resale thereof by the Investor under the Securities Act, in any New Registration Statement and any post-effective
amendment thereto, in each case in accordance with this Agreement and the Registration Rights Agreement.

 

(iii)         Legends.
The book-entry statement(s) representing the Commitment Shares issued prior to the Effective Date of the Initial Registration Statement,
except as set forth below, shall bear a restrictive legend in substantially the following form (and stop transfer instructions may be
placed against transfer of such Commitment Shares):

 

THE OFFER AND SALE OF THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, UNLESS SOLD PURSUANT
TO: (1) RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (2) AN OPINION OF COUNSEL, IN A CUSTOMARY FORM AND REASONABLY ACCEPTABLE
TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS.

 

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Notwithstanding the foregoing
and for the avoidance of doubt, all Shares to be issued in respect of any VWAP Purchase Notice delivered to the Investor pursuant to
this Agreement shall be issued to the Investor in accordance with Section 3.2 by crediting the Investor’s or its designees’
account at DTC as DWAC Shares, and the Company shall not take any action or give instructions to any transfer agent of the Company otherwise.

 

(iv)         Irrevocable
Transfer Agent Instructions; Notice of Effectiveness.

 

On the earlier of (a) the Commencement
Date and (b) such time that the Investor shall request, provided all conditions of Rule 144 are met, the Company shall, no later than
one (1) Trading Day following the delivery by the Investor to the Company or its transfer agent of one or more legended book-entry statements
representing the Commitment Shares issued to the Investor pursuant to Section 10.1(ii) (which book-entry statements the Investor shall
promptly deliver on or prior to the first to occur of the events described in clauses (a) and (b) of this sentence), cause the Company’s
transfer agent to credit the Investor’s or its designee’s account at DTC as DWAC Shares such number of Class A Ordinary Shares
equal to the number of Commitment Shares issued to the Investor pursuant to Section 10.1. The Company shall take all actions to carry
out the intent and accomplish the purposes of the immediately preceding sentence, including, without limitation, delivering all such
legal opinions, consents, certificates, resolutions and instructions to its transfer agent, and any successor transfer agent of the Company,
as may be requested from time to time by the Investor or necessary or desirable to carry out the intent and accomplish the purposes of
the immediately preceding sentence. Within one (1) Trading Day after the Effective Date of the Initial Registration Statement and prior
to Commencement, the Company shall deliver or cause to be delivered to its transfer agent (and thereafter, shall deliver or cause to
be delivered to any subsequent transfer agent of the Company), (i) irrevocable instructions executed by the Company and acknowledged
in writing by the Company’s transfer agent (the “Commencement Irrevocable Transfer Agent Instructions”)
and (ii) the notice of effectiveness in the form attached as an exhibit to the Registration Rights Agreement (the “Notice
of Effectiveness”) relating to the Initial Registration Statement, in each case directing the Company’s transfer
agent to issue to the Investor or its designee all of the Commitment Shares and the Shares included in the Initial Registration Statement
as DWAC Shares in accordance with this Agreement and the Registration Rights Agreement. With respect to any post-effective amendment
to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration Statement,
in each case declared effective by the Commission after the Commencement Date, the Company shall deliver or cause to be delivered to
its transfer agent (and thereafter, shall deliver or cause to be delivered to any subsequent transfer agent of the Company) (i) irrevocable
instructions in the form substantially similar to the Commencement Irrevocable Transfer Agent Instructions executed by the Company and
acknowledged in writing by the Company’s transfer agent and (ii) the Notice of Effectiveness, in each case modified as necessary
to refer to such Registration Statement or post-effective amendment and the Registrable Securities included therein, to issue the Registrable
Securities included therein as DWAC Shares in accordance with the terms of this Agreement and the Registration Rights Agreement. For
the avoidance of doubt, all Securities to be issued from and after Commencement to or for the benefit of the Investor pursuant to this
Agreement shall be issued to the Investor or its designee only as DWAC Shares. The Company represents and warrants to the Investor that,
while this Agreement is effective, no instruction other than those referred to in this Section 10.1(iv) will be given by the Company
to its transfer agent, or any successor transfer agent of the Company, with respect to the Securities from and after Commencement, and
the Securities covered by the Initial Registration Statement or any post-effective amendment thereof, or any New Registration Statement
or post-effective amendment thereof, as applicable, shall otherwise be freely transferable on the books and records of the Company and
no stop transfer instructions shall be maintained against the transfer thereof. The Company agrees that if the Company fails to fully
comply with the provisions of this Section 10.1(iv) within five (5) Trading Days after the date on which the Investor has provided the
deliverables referred to above that the Investor is required to provide to the Company or its transfer agent, the Company shall promptly
use its commercially reasonable efforts to obtain shareholder delegation that authorizes a share repurchase from the Investor and then
to purchase, at the Investor’s written instruction, from the Investor all Class A Ordinary Shares purchased or acquired by the
Investor pursuant to this Agreement that contain the restrictive legend referred to in Section 10.1(iii) hereof (or any similar restrictive
legend) at the greater of (i) the purchase price paid for such Class A Ordinary Shares (as applicable) and (ii) the Closing Sale Price
of the Class A Ordinary Shares on the date of the Investor’s written instruction. Notwithstanding the foregoing, in the event that
the Company’s shareholders do not approve delegation for a share repurchase required by this Section 10.1(iv), the Company’s
failure to comply with the preceding sentence shall not be deemed a breach of this agreement.

 

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Section 10.2      
Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.

 

(i)          The
Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that either party shall
be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to
enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any bond or other security
being required), this being in addition to any other remedy to which either party may be entitled by law or equity.

 

(ii)         Each
of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other courts of the
United States sitting in the State of New York for the purposes of any suit, action or proceeding arising out of or relating to this
Agreement, and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue
of the suit, action or proceeding is improper. Each of the Company and the Investor consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing in this Section 10.2 shall affect
or limit any right to serve process in any other manner permitted by law.

 

(iii)        EACH
OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY 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 AND THE OTHER PARTIES HERETO HAVE ENTERED INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.2.

 

    45

     

    

 

Section 10.3      
Entire Agreement. The Transaction Documents set forth the entire agreement and understanding of the parties with respect
to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations and understandings between the parties,
both oral and written, with respect to such matters. There are no promises, undertakings, representations or warranties by either party
relative to subject matter hereof not expressly set forth in the Transaction Documents. The Disclosure Schedule and all exhibits to this
Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein.

 

Section 10.4      
Notices. Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall
be in writing and shall be effective (a) upon hand delivery or electronic mail delivery at the address or number designated below (if
delivered on a Trading Day during normal business hours where such notice is to be received), or the first Trading Day following such
delivery (if delivered other than on a Trading Day during normal business hours where such notice is to be received) or (b) on the second
(2nd) Trading Day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur. The address for such communications shall be:

 

	If to the Company:
	 
	Lilium N.V.
	c/o Lilium Aviation Inc.

    2385 N.W. Executive Center Drive, Suite 300

    Boca Raton, Florida 33431

    Attention: Roger Franks
	Email: roger.franks@lilium.com
	 
	With a copy (which shall not constitute notice) to:
	 
	Ropes & Gray LLP

    1211 Avenue of the Americas

    New York, NY 10036-8704Attention: Carl Marcellino

    Email: carl.marcellino@ropesgray.com

 

    46

     

    

 

	If to the Investor:
	 
	Tumim Stone Capital LLC
	140 Broadway, 38th Floor
	New York, NY 10005
	Telephone Number: (646) 845-0040
	Email: mjtarlow@3ifund.com
	Attention: Maier Joshua Tarlow
	 
	With a copy (which shall not constitute notice) to:
	 
	Morrison & Foerster LLP
	2100 L Street NW, Suite 900
	Washington, DC 20037
	Telephone Number: (202) 887-1584
	Email: AndyCampbell@mofo.com
	Attention: Andrew P. Campbell

 

Either party hereto may from time to time change
its address for notices by giving at least five (5) days’ advance written notice of such changed address to the other party hereto.

 

Section 10.5      
Waivers. No provision of this Agreement may be waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the date on which the Initial Registration Statement is initially filed with the Commission. Subject to the
immediately preceding sentence, no provision of this Agreement may be waived other than in a written instrument signed by the party against
whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercises
thereof or of any other right, power or privilege.

 

Section 10.6      
Amendments. No provision of this Agreement may be amended by the parties from and after the date that is one (1) Trading
Day immediately preceding the date on which the Initial Registration Statement is initially filed with the Commission. Subject to the
immediately preceding sentence, no provision of this Agreement may be amended other than by a written instrument signed by both parties
hereto.

 

Section 10.7      
Headings. The article, section and subsection headings in this Agreement are for convenience only and shall not constitute
a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context
clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms
thereof. The terms “including,” “includes,” “include” and words of like import shall be construed
broadly as if followed by the words “without limitation.” The terms “herein,” “hereunder,” “hereof”
and words of like import refer to this entire Agreement instead of just the provision in which they are found.

 

Section 10.8      
Construction. The parties agree that each of them and their respective counsel has reviewed and had an opportunity
to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved
against the drafting party shall not be employed in the interpretation of the Transaction Documents. In addition, each and every reference
to share prices and number of Class A Ordinary Shares in any Transaction Document shall, in all cases, be subject to adjustment for any
stock splits, stock combinations, stock dividends, recapitalizations, reorganizations and other similar transactions that occur on or
after the date of this Agreement. Any reference in this Agreement to “Dollars” or “$” shall mean the lawful currency
of the United States of America. Any references to “Section” or “Article” in this Agreement shall, unless otherwise
expressly stated herein, refer to the applicable Section or Article of this Agreement.

 

    47

     

    

 

Section 10.9      
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors. Neither the Company nor the Investor may assign this Agreement or any of their respective rights or obligations hereunder
to any Person.

 

Section 10.10  
No Third Party Beneficiaries. Except as expressly provided in the immediately preceding sentence and in Article IX,
this Agreement is intended only for the benefit of the parties hereto and their respective successors, and is not for the benefit of,
nor may any provision hereof be enforced by, any other Person.

 

Section 10.11  
Governing Law. This Agreement shall be governed by and construed in accordance with the internal procedural and substantive
laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the application of
the laws of any other jurisdiction.

 

Section 10.12  
Survival. The representations, warranties, covenants and agreements of the Company and the Investor contained in this
Agreement shall survive the execution and delivery hereof until the termination of this Agreement; provided, however, that (i)
the provisions of Article V (Representations, Warranties and Covenants of the Company), Article VIII (Termination), Article IX (Indemnification)
and this Article X (Miscellaneous) shall remain in full force and effect indefinitely notwithstanding such termination, and, (ii) so
long as the Investor owns any Securities, the covenants and agreements of the Company and the Investor contained in Article VI (Additional
Covenants), shall remain in full force and effect notwithstanding such termination for a period of six months following such termination.

 

Section 10.13  
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party;
provided that a facsimile signature or signature delivered by e-mail in a “.pdf” format data file, including any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered
due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

    48

     

    

 

Section 10.14  
Publicity. The Company shall afford the Investor and its counsel with a reasonable opportunity to review and comment
upon, shall consult with the Investor and its counsel on the form and substance of, and shall give due consideration to all such comments
from the Investor or its counsel on, any press release, Commission filing or any other public disclosure made by or on behalf of the
Company relating to the Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated
thereby, prior to the issuance, filing or public disclosure thereof. For the avoidance of doubt, the Company shall not be required to
submit for review any such disclosure (i) contained in periodic reports filed with the Commission under the Exchange Act if it shall
have previously provided the same disclosure to the Investor or its counsel for review in connection with a previous filing or (ii) any
Prospectus Supplement if it contains disclosure that does not reference the Investor, its purchases hereunder or any aspect of the Transaction
Documents or the transactions contemplated thereby. The Company agrees and acknowledges that its failure to comply with this provision
in all material respects constitutes a Material Adverse Effect for purposes of Section 7.2(xi). Except as may be required by applicable
law, permitted pursuant to Section 6.12 of this Agreement, or a “tombstone” advertisement on the Investor’s website,
the Investor shall not make any public announcement or disclosure regarding this Agreement and the transactions contemplated hereby without
the prior written consent of the Company.

 

Section 10.15  
Severability. The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction
shall determine that any one or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provision or part of a provision of this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal
or unenforceable provision, or part of such provision, had never been contained herein, so that such provisions would be valid, legal
and enforceable to the maximum extent possible.

 

Section 10.16  
Further Assurances. From and after the Closing Date, upon the request of the Investor or the Company, each of the Company
and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable
to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

[Signature Pages Follow]

 

    49

     

    

 

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

 

	 	LILIUM N.V.:
	 	 
	 	By:	/s/ Michael Andersen
	 	Name: Michael Andersen
	 	Title: Deputy Chief Financial Officer
	 	 
	 	TUMIM STONE CAPITAL LLC:
	 	 
	 	By:	/s/ Maier J. Tarlow
	 	Name: Maier J. Tarlow
	 	Title: Manager on Behalf of the GP

 

     

     

    

 

ANNEX I TO THE

ORDINARY SHARE PURCHASE AGREEMENT

DEFINITIONS

 

“Action”
means any action, lawsuit, complaint, claim, petition, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any
proceeding or investigation, by or before any Governmental Authority.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control
with a Person, as such terms are used in and construed under Rule 144.

 

“Agreement”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Average Price”
means a price per Share (rounded to the nearest tenth of a cent) equal to the quotient obtained by dividing (i) the aggregate gross purchase
price paid by the Investor for all Shares purchased pursuant to this Agreement up to and including the date as of which the Average Price
is computed, by (ii) the aggregate number of Shares issued pursuant to this Agreement up to
and including the date as of which the Average Price is computed.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar U.S. federal or state law for the relief of debtors, the Insolvency Code of 1994, as amended,
or any similar German law for the relief of debtors, Title 1, Bankruptcy Act, as amended, or any similar Dutch law for the relief of
debtors and/or the European Insolvency Regulation of 2002, as amended, or any similar European Union regulation governing the relief
of debtors.

 

“Beneficial Ownership
Limitation” shall have the meaning assigned to such term in Section 3.4.

 

“Bloomberg”
means Bloomberg, L.P.

 

“Bring Down Opinion”
shall have the meaning assigned to such term in Section 6.15.

 

“Broker-Dealer”
shall have the meaning assigned to such term in Section 6.13.

 

“Class A Ordinary
Shares” means the Company’s Class A Ordinary Shares, nominal value €0.12 per share.

 

“Class A Ordinary
Share Equivalents” means any securities of the Company or its Subsidiaries which entitle the holder thereof to acquire
at any time Class A Ordinary Shares, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Class A
Ordinary Shares.

 

“Closing”
shall have the meaning assigned to such term in Section 2.2.

 

“Closing Date”
shall have the meaning assigned to such term in Section 2.2.

 

    I-1

     

    

 

“Closing Sale
Price” means, for the Class A Ordinary Shares as of any date, the last closing trade price for the Class A Ordinary Shares
on the Trading Market (or if the Class A Ordinary Shares are then traded on an Eligible Market, on such Eligible Market), as reported
by Bloomberg, or, if the Trading Market (or such Eligible Market, as applicable) begins to operate on an extended hours basis and does
not designate the closing trade price for the Class A Ordinary Shares, then the last trade price for the Class A Ordinary Shares prior
to 4:00 p.m., New York City time, as reported by Bloomberg, or, if the foregoing do not apply, the last trade price for the Class A Ordinary
Shares in the over-the-counter market on the electronic bulletin board for the Class A Ordinary Shares as reported by Bloomberg, or,
if no last trade price is reported for the Class A Ordinary Shares by Bloomberg, the average of the bid prices, or the ask prices, respectively,
of any market makers for such security as reported by OTC Markets Group Inc. All such determinations shall be appropriately adjusted
for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during such period.

 

“Code”
shall have the meaning assigned to such term in Section 5.25.

 

“Commencement”
shall have the meaning assigned to such term in Section 3.1.

 

“Commencement
Date” shall have the meaning assigned to such term in Section 3.1.

 

“Commencement
Irrevocable Transfer Agent Instructions” shall have the meaning assigned to such term in Section 10.1(iv).

 

“Commission”
means the U.S. Securities and Exchange Commission or any successor entity.

 

“Commission Documents”
shall mean shall mean (i) all reports, schedules, registrations, forms, statements, information and other documents filed with or furnished
to the Commission by the Company pursuant to the reporting requirements of the Exchange Act, including all material filed with or furnished
to the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act since September 15, 2021 and which hereafter shall
be filed with or furnished to the Commission by the Company, including, without limitation, the Current Report, (ii) each Registration
Statement, as the same may be amended from time to time, the Prospectus contained therein and each Prospectus Supplement thereto and
(iii) all information contained in such filings and all documents and disclosures that have been and heretofore shall be incorporated
by reference therein.

 

“Commitment Shares”
means that number of Class A Ordinary Shares having a value equal to 1.0% of the Total Commitment, whereby such value per Class A Ordinary
Share shall be equal to the average of the closing sale prices of the Class A Ordinary Shares on the Nasdaq for the ten (10) consecutive
trading days on the Nasdaq ended immediately prior to the date hereof, such amount totaling 262,697 duly authorized, validly issued,
fully paid and non-assessable Class A Ordinary Shares.

 

“Commitment Shares
Nominal Value Payment” shall have the meaning assigned to such term in Section 10.1(ii).

 

    I-2

     

    

 

“Company”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Compliance Certificate”
shall have the meaning assigned to such term in Section 7.2(ii).

 

“Confidential
Data” shall have the meaning assigned to such term in Section 5.43.

 

“Cover Price”
shall have the meaning assigned to such term in Section 3.2.

 

“Current Report”
shall have the meaning assigned to such term in Section 2.3.

 

“Custodian”
shall mean any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall have the meaning assigned to such term in Section 9.1.

 

“Disclosure Schedule”
shall have the meaning assigned to such term in the preamble to Article V.

 

“Disqualification
Event” shall have the meaning assigned to such term in Section 5.40.

 

“DTC”
means The Depository Trust Company, a Subsidiary of The Depository Trust & Clearing Corporation, or any successor thereto.

 

“DWAC”
shall have the meaning assigned to such term in Section 5.34.

 

“DWAC Shares”
means Class A Ordinary Shares issued pursuant to this Agreement that are (i) issued in electronic form, (ii) freely tradable and transferable
and without restriction on resale and without stop transfer instructions maintained against the transfer thereof, and (iii) timely credited
by the Company to the Investor’s or its designee’s specified Deposit/Withdrawal at Custodian (DWAC) account with DTC under
its Fast Automated Securities Transfer (FAST) Program, or any similar program hereafter adopted by DTC performing substantially the same
function.

 

“EDGAR”
means the Commission’s Electronic Data Gathering, Analysis and Retrieval System.

 

“Effective Date”
means, with respect to the Initial Registration Statement filed pursuant to Section 2(a) of the Registration Rights Agreement (or any
post-effective amendment thereto) or any New Registration Statement filed pursuant to Section 2(c) of the Registration Rights Agreement
(or any post-effective amendment thereto), as applicable, the date on which the Initial Registration Statement (or any post-effective
amendment thereto) or any New Registration Statement (or any post-effective amendment thereto) is declared effective by the Commission.

 

“Eligible Market”
means the New York Stock Exchange, The Nasdaq Global Market, The Nasdaq Capital Market, the NYSE American, or the NYSE Arca (or any nationally
recognized successor to any of the foregoing).

 

    I-3

     

    

 

“Employee Plan”
shall have the meaning assigned to such term in Section 5.25.

 

“Environmental
Laws” shall have the meaning assigned to such term in Section 5.19.

 

“ERISA”
shall have the meaning assigned to such term in Section 5.25.

 

“ERISA Affiliate”
shall have the meaning assigned to such term in Section 5.25.

 

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

 

“Exempt Issuance”
means the issuance of (a) Class A ordinary Shares, options or other equity incentive awards to employees, officers, directors or vendors
of the Company pursuant to any equity incentive plan duly adopted for such purpose, by the Company’s Board of Directors or a majority
of the members of a committee of the Board of Directors established for such purpose; (b) (1) any Securities issued to the Investor pursuant
to this Agreement, (2) any securities issued upon the exercise or exchange of or conversion of any Class A Ordinary Shares or Class A
Ordinary Share Equivalents held by the Investor or any of its Affiliates at any time, or (3) any securities issued upon the exercise
or exchange of or conversion of any Class A Ordinary Share Equivalents issued and outstanding on the Closing Date, provided that such
securities referred to in this clause (3) have not been amended since the Closing Date to increase the number of such securities or to
decrease the exercise price, exchange price or conversion price of such securities, or (c) securities issued pursuant to acquisitions,
divestitures, licenses, partnerships, collaborations or strategic transactions approved by the Company’s Board of Directors or
a majority of the members of a committee of directors established for such purpose, which acquisitions, divestitures, licenses, partnerships,
collaborations or strategic transactions can have a Variable Rate Transaction component, provided that any such issuance shall only be
to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an operating company or an asset in
a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition to the investment
of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital
or to an entity whose primary business is investing in securities .

 

“FCPA”
means the U.S. Foreign Corrupt Practices Act of 1977, as amended.

 

“Filing Deadline”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“FINRA”
means the Financial Industry Regulatory Authority.

 

“Fundamental
Transaction” means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate
or merge with or into (whether or not the Company is the surviving corporation) another Person, with the result that the holders of the
Company’s capital stock immediately prior to such consolidation or merger together beneficially own less than 50% of the outstanding
voting power of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of
all or substantially all of the properties or assets of the Company to another Person, or (3) take action to facilitate a purchase, tender
or exchange offer by another Person that is accepted by the holders of more than 50% of the outstanding Class A Ordinary Shares (excluding
any Class A Ordinary Shares held by the Person or Persons making or party to, or associated or affiliated with the Persons making or
party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other business combination
(including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such
other Person acquires more than 50% of the outstanding Class A Ordinary Shares (not including any Class A Ordinary Shares held by the
other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or
share purchase agreement or other business combination), or (5) reorganize, recapitalize or reclassify its Class A Ordinary Shares, or
(ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange
Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of 50% of the aggregate ordinary voting power represented by issued and outstanding Class A Ordinary Shares.

 

    I-4

     

    

 

“GDPR”
shall have the meaning assigned to such term in Section 5.43.

 

“Governmental
Authority” means any federal, state, provincial, municipal, local, international, supranational or foreign government,
governmental authority, regulatory or administrative agency (which for the purposes of this Agreement shall include the Commission),
governmental commission, department, board, bureau, agency, court, arbitral tribunal, securities exchange or similar body or instrumentality
thereof.

 

“IFRS”
shall have the meaning assigned to such term in Section 5.7(b).

 

“Initial Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Intellectual
Property Rights” shall have the meaning assigned to such term in Section 5.18(b).

 

“Investment Period”
means the period commencing on the Commencement Date and expiring on the date this Agreement is terminated pursuant to Article VIII.

 

“Investor”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

“Investor Expense
Reimbursement” shall have the meaning assigned to such term in Section 10.1(i).

 

“Investor Party”
shall have the meaning assigned to such term in Section 9.1.

 

“Issuer Covered
Person” shall have the meaning assigned to such term in Section 5.40.

 

“IT Systems”
shall have the meaning assigned to such term in Section 5.43.

 

“Knowledge”
means the actual knowledge of any of the Company’s Chief Executive Officer or its Chief Financial Officer and Principal Accounting
and Financial Officer, in each case after reasonable inquiry.

 

    I-5

     

    

 

“Material Adverse
Effect” means (i) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen would
likely have, any material adverse effect on the legality, validity or enforceability of the Transaction Documents or the transactions
contemplated thereby, (ii) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen would
likely have, any effect on the business, operations, properties or financial condition of the Company that is material and adverse to
the Company and its Subsidiaries, taken as a whole, and/or (iii) any condition, occurrence, state of facts or event that would, or insofar
as reasonably can be foreseen would likely, prohibit or otherwise materially interfere with or delay the ability of the Company to perform
any of its obligations under any of the Transaction Documents to which it is a party; provided, however, that no facts,
circumstances, changes or effects exclusively and directly resulting from, relating to or arising out of the following, individually
or in the aggregate, shall be taken into account in determining whether a Material Adverse Effect has occurred or insofar as reasonably
can be foreseen would likely occur: (a) changes in conditions in the U.S. or global capital, credit or financial markets generally, including
changes in the availability of capital or currency exchange rates, provided such changes shall not have affected the Company in a materially
disproportionate manner as compared to other similarly situated companies; (b) changes generally affecting the industries in which the
Company and its Subsidiaries operate, provided such changes shall not have affected the Company and its Subsidiaries, taken as a whole,
in a materially disproportionate manner as compared to other similarly situated companies; (c) any effect of the announcement of, or
the consummation of the transactions contemplated by, this Agreement and the other Transaction Documents on the Company’s relationships,
contractual or otherwise, with customers, suppliers, vendors, bank lenders, strategic venture partners or employees; (d) changes arising
in connection with earthquakes, pandemics, hostilities, acts of war, sabotage or terrorism or military actions or any escalation or material
worsening of any such pandemic, hostilities, acts of war, sabotage or terrorism or military actions existing as of the date hereof; (e)
any action taken by the Investor with respect to the transactions contemplated by this Agreement; and (f) the effect of any changes in
applicable laws or accounting rules, provided such changes shall not have affected the Company in a materially disproportionate manner
as compared to other similarly situated companies.

 

“Material Agreements”
shall have the meaning assigned to such term in Section 5.20.

 

“Money Laundering
Laws” shall have the meaning assigned to such term in Section 5.37.

 

“New Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Nominal Value
Settlement Payment” shall have the meaning assigned to such term in Section 3.2.

 

“Notice of Effectiveness”
shall have the meaning assigned to such term in Section 10.1(iv).

 

“OFAC”
means the Office of Foreign Assets Control.

 

    I-6

     

    

 

“Organizational
Documents” means the Company’s Deed of Conversion and Amendment to the Articles of Association of Lilium B.V. into
Lilium N.V., filed with the Commercial Register of the Netherlands Chamber of Commerce.

 

“PEA Period”
means the period commencing at 9:30 a.m., New York City time, on the fifth (5th) Trading Day immediately prior to the filing of any post-effective
amendment to the Initial Registration Statement or any New Registration Statement, and ending at 9:30 a.m., New York City time,
on the Trading Day immediately following, the Effective Date of such post-effective amendment.

 

“Person”
means any person or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company,
trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority.

 

“Personal Data”
shall have the meaning assigned to such term in Section 5.43.

 

“Privacy Laws”
shall have the meaning assigned to such term in Section 5.43.

 

“Prospectus”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Prospectus Supplement”
shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Quiet Period”
shall have the meaning assigned to such term in Section 3.1.

 

“Registrable
Securities” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Registration
Rights Agreement” shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.

 

“Regulation D”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Restricted Period”
shall have the meaning assigned to such term in Section 6.9.

 

“Restricted Person”
and “Restricted Persons” shall have the meaning assigned to such term in Section 6.9.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the same effect.

 

“Sarbanes-Oxley
Act” shall have the meaning assigned to such term in Section 5.7(e).

 

    I-7

     

    

 

“Sanction Country”
shall have the meaning assigned to such term in Section 5.38.

 

“Sanction Lists”
shall have the meaning assigned to such term in Section 5.38.

 

“Section 4(a)(2)”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Securities”
means collectively, the Shares and the Commitment Shares.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.

 

“Shares”
shall mean the Class A Ordinary Shares that are and/or may be purchased by the Investor under this Agreement pursuant to one or more
VWAP Purchase Notices, but not including the Commitment Shares.

 

“Short Sales”
shall mean “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act.

 

“Subsidiary”
shall mean any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary
voting power for the election of directors or other persons performing similar functions are at the time owned directly or indirectly
by the Company and/or any of its other Subsidiaries.

 

“Tax Return”
means any return, declaration, report, statement, information statement or other document filed or required to be filed with any Governmental
Authority with respect to Taxes, including any claims for refunds of Taxes, any information returns and any amendments or supplements
of any of the foregoing.

 

“Taxes”
means all federal, state, local, foreign or other taxes imposed by any Governmental Authority, including all income, gross receipts,
license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital
stock, ad valorem, value added, inventory, franchise, profits, withholding, social security (or similar), unemployment, disability, real
property, personal property, sales, use, transfer, registration, alternative or add-on minimum, or estimated taxes, and including any
interest, penalty, or addition thereto.

 

“Total Commitment”
shall have the meaning assigned to such term in Section 2.1.

 

“Trading Day”
shall mean a full trading day (beginning at 9:30:01 a.m., New York City time, and ending at 4:00 p.m., New York City time) on the Trading
Market or, if the Class A Ordinary Shares are then listed on an Eligible Market, on such Eligible Market; provided, that, a “Trading
Day” may not be any day on which commercial banks are not open for ordinary banking business in the European Union.

 

“Trading Market”
means The Nasdaq Global Select Market (or any nationally recognized successor thereto). If the Company’s Class A Ordinary Shares
become listed on an Eligible Market and cease to be listed on the Trading Market, the Eligible Market upon which the Company’s
Class A Ordinary Shares become listed shall be the Trading Market.

 

    I-8

     

    

 

“Transaction
Documents” means, collectively, this Agreement (as qualified by the Disclosure Schedule) and the exhibits hereto, the Registration
Rights Agreement and each of the other agreements, documents, certificates and instruments entered into or furnished by the parties hereto
in connection with the transactions contemplated hereby and thereby.

 

“Variable Rate
Transaction” means a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible
into, exchangeable or exercisable for, or include the right to receive additional Class A Ordinary Shares or Class A Ordinary Share Equivalents
either (A) at a conversion price, exercise price, exchange rate or other price that is based upon and/or varies with the trading prices
of or quotations for the Class A Ordinary Shares at any time after the initial issuance of such equity or debt securities, or (B) with
a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such equity
or debt security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company
or the market for the Class A Ordinary Shares (including, without limitation, any “full ratchet” or “weighted average”
anti-dilution provisions, but not including any standard anti-dilution protection for any reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction), (ii) issues or sells any equity or debt securities, including without limitation,
Class A Ordinary Shares or Class A Ordinary Share Equivalents, either (A) at a price that is subject to being reset at some future date
after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly
related to the business of the Company or the market for the Class A Ordinary Shares (other than standard anti-dilution protection for
any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction), or (B) that are subject to or contain
any put, call, redemption, buy-back, price-reset or other similar provision or mechanism (including, without limitation, a “Black-Scholes”
put or call right, other than in connection with a Fundamental Transaction) that provides for the issuance of additional equity securities
of the Company or the payment of cash by the Company, or (iii) enters into any agreement, including, but not limited to, an “equity
line of credit” (other than with the Investor) or “at the market offering” or other continuous offering or similar
offering of Class A Ordinary Shares or Class A Ordinary Share Equivalents, whereby the Company may sell Class A Ordinary Shares or Class
A Ordinary Share Equivalents at a future determined price.

 

“VWAP”
means, for the Class A Ordinary Shares as of any Trading Day, the dollar volume-weighted average price for the Class A Ordinary Shares
on the Trading Market (or, if the Class A Ordinary Shares are then listed on an Eligible Market, on such Eligible Market) during the
period beginning at the official open (or commencement) of trading on the Trading Market (or on such Eligible Market, as applicable)
on such Trading Day, and ending at the official close of trading on the Trading Market (or on such Eligible Market, as applicable) on
such Trading Day, as reported by Bloomberg through its “AQR” function. All such determinations shall be appropriately adjusted
by the Company for any stock dividend, stock split, stock combination, recapitalization or other similar transaction during such period.

 

“VWAP Purchase”
shall have the meaning assigned to such term in Section 3.1.

 

    I-9

     

    

 

“VWAP Purchase
Condition Satisfaction Time” means, with respect to any VWAP Purchase, 8:00 a.m., New York City time, on the applicable
VWAP Purchase Exercise Date for such VWAP Purchase.

 

“VWAP Purchase
Confirmation” shall have the meaning assigned to such term in Section 3.1.

 

“VWAP Purchase
Exercise Date” means, with respect to any VWAP Purchase, the Trading Day on which the Investor receives a valid VWAP Purchase
Notice for such VWAP Purchase in accordance with this Agreement; provided, that, if such VWAP Purchase Notice is received after
8:00 a.m., New York City time, on any day, it shall be deemed to have been received at 8:00 a.m., New York City time, on the immediately
following Trading Day.

 

“VWAP Purchase
Maximum Amount” means with respect to any VWAP Purchase, a number of Class A Ordinary Shares equal to the lesser of (i)
the product obtained by multiplying (A) the daily trading volume in the Class A Ordinary Shares on the Trading Market (or Eligible Market,
as applicable) during the Trading Day immediately preceding the applicable VWAP Purchase Exercise Date for such VWAP Purchase and (B)
0.15, and (ii) the quotient obtained by dividing (A) $10,000,000 by (B) the Closing Sale Price of the Class A Ordinary Shares on the
Trading Market (or Eligible Market, as applicable) on the Trading Day immediately preceding the applicable VWAP Purchase Exercise Date
for such VWAP Purchase; provided, that, the Investor may, in its sole discretion, waive the VWAP Purchase Maximum Amount with
respect to any VWAP Purchase in the event the resale of the Registrable Securities by the Investor is registered pursuant to an effective
Registration Statement on Form F-3 on the date of the applicable VWAP Purchase Notice.

 

“VWAP Purchase
Notice” means, with respect to a VWAP Purchase made pursuant to Section 3.1, an irrevocable written notice delivered by
the Company to the Investor on a VWAP Purchase Exercise Date directing the Investor to purchase a VWAP Purchase Share Amount (such specified
VWAP Purchase Share Amount subject to adjustment as set forth in Section 3.1 as necessary to give effect to the applicable VWAP Purchase
Maximum Amount), at the VWAP Purchase Price therefor in accordance with this Agreement.

 

“VWAP Purchase
Price” means, with respect to any VWAP Purchase, the purchase price per Share to be purchased by the Investor in such VWAP
Purchase, which shall equal the product of (A) the VWAP on the applicable VWAP Purchase Exercise Date for such VWAP Purchase, multiplied
by (B) 0.970 (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split
or other similar transaction) and which VWAP Purchase Price shall at least be equal to the aggregate nominal value of the Shares.

 

“VWAP Purchase
Settlement Date” shall have the meaning assigned to such term in Section 3.2.

 

“VWAP Purchase
Share Amount” means, with respect to any VWAP Purchase, the number of Shares specified by the Company in the applicable
VWAP Purchase Notice, which number of Shares shall not exceed the applicable VWAP Purchase Maximum Amount.

 

    I-10Exhibit 4.2

 

REGISTRATION
RIGHTS AGREEMENT

 

This REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of June 3, 2022 is by and between Tumim Stone Capital
LLC, a Delaware limited liability company (the “Investor”), and Lilium N.V., a Dutch public limited liability
company (the “Company”).

 

RECITALS

 

A.        The
Company and the Investor have entered into that certain Share Purchase Agreement, dated as of the date hereof (the “Purchase
Agreement”), pursuant to which the Company may issue, from time to time, to the Investor up to $75,000,000 in aggregate
gross purchase price of newly issued shares of the Company’s Class A Ordinary Shares, nominal value €0.12 per share (together
with any other class of securities into which such securities may hereafter be reclassified or changed, “Class A Ordinary
Shares”), as provided for therein.

 

B.        Pursuant
to the terms of, and in consideration for the Investor entering into, the Purchase Agreement, the Company shall cause to be issued to
the Investor the Commitment Shares in accordance with the terms of the Purchase Agreement.

 

C.        Pursuant
to the terms of, and in consideration for the Investor entering into, the Purchase Agreement, and to induce the Investor to execute and
deliver the Purchase Agreement, the Company has agreed to provide the Investor with certain registration rights with respect to the Registrable
Securities (as defined herein) as set forth herein.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the representations, warranties, covenants and agreements contained herein and in the
Purchase Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, intending
to be legally bound hereby, the Company and the Investor hereby agree as follows:

 

1.             Definitions.

 

Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement. As used in this Agreement, the
following terms shall have the following meanings:

 

(a)        “Agreement”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

(b)        “Allowable
Grace Period” shall have the meaning assigned to such term in Section 3(p).

 

(c)        “Blue
Sky Filing” shall have the meaning assigned to such term in Section 6(a).

 

(d)        “Business
Day” means any day other than Saturday, Sunday or any other day on which commercial banks in New York, New York are authorized
or required by law to remain closed.

 

     

     

    

 

(e)        “Claims”
shall have the meaning assigned to such term in Section 6(a).

 

(f)        “Class A
Ordinary Shares” shall have the meaning assigned to such term in the recitals to this Agreement.

 

(g)        “Closing
Date” shall mean the date of this Agreement.

 

(h)        “Commission”
means the U.S. Securities and Exchange Commission or any successor entity.

 

(i)        “Company”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

(j)        “Company
Party” or “Company Parties” shall have the meaning assigned to such terms in Section 6(a).

 

(k)        “Effective
Date” means the date that the applicable Registration Statement has been declared effective by the Commission.

 

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

 

(m)      “Filing
Deadline” means, (i) with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a),
the 30th day immediately following the date of this Agreement (or if such day is not a Business Day, the next following Business
Day), and (ii) with respect to any New Registration Statements that may be required to be filed by the Company pursuant to this
Agreement, the 30th Business Day following the sale of substantially all of the Registrable Securities included in the Initial
Registration Statement or the most recent prior New Registration Statement, as applicable, or such other date as permitted by the Commission.

 

(n)        “Indemnified
Damages” shall have the meaning assigned to such term in Section 6(a).

 

(o)        “Initial
Registration Statement” shall have the meaning assigned to such term in Section 2(a).

 

(p)        “Investor”
shall have the meaning assigned to such term in the preamble of this Agreement.

 

(q)        “Investor
Information” shall have the meaning assigned to such term in Section 3(a).

 

(r)        “Investor
Party” and “Investor Parties” shall have the meaning assigned to such terms in Section 6(a).

 

(s)        “Legal
Counsel” shall have the meaning assigned to such term in Section 2(b).

 

(t)        “New
Registration Statement” shall have the meaning assigned to such term in Section 2(c).

 

     

     

    

 

(u)        “Person”
means any person or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company,
trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority.

 

(v)        “Prospectus”
or “Prospectuses” means the prospectus(es) in the form included in a Registration Statement, as supplemented
from time to time by any Prospectus Supplement, including the documents incorporated by reference therein.

 

(w)        “Prospectus
Supplement” means any prospectus supplement to a Prospectus filed with the Commission from time to time pursuant to Rule 424(b) under
the Securities Act, including the documents incorporated by reference therein.

 

(x)        “Purchase
Agreement” shall have the meaning assigned to such term in the recitals to this Agreement.

 

(y)        “register,”
 “registered,” and “registration” refer to a registration effected by preparing and
filing one or more Registration Statements in compliance with the Securities Act and pursuant to Rule 415 and the declaration of
effectiveness of such Registration Statement(s) by the Commission.

 

(z)        “Registrable
Securities” means all of (i) the Shares, (ii) the Commitment Shares, and (iii) any capital stock of the
Company issued or issuable with respect to such Shares or Commitment Shares, including, without limitation, (1) as a result of any
share split, share dividend, recapitalization, exchange or similar event and (2) shares of capital stock of the Company into which
the Class A Ordinary Shares are converted or exchanged and shares of capital stock of a successor entity into which the Class A
Ordinary Shares are converted or exchanged.

 

(aa)    “Registration
Period” shall have the meaning assigned to such term in Section 3(a);

 

(bb)    “Registration
Statement” means a registration statement or registration statements of the Company filed under the Securities Act covering
the resale by the Investor of Registrable Securities, as such registration statement or registration statements may be amended and supplemented
from time to time, including all documents filed as part thereof or incorporated by reference therein.

 

(cc)    “Rule 144”
means Rule 144 promulgated by the Commission under the Securities Act, as such rule may be amended from time to time, or any
other similar or successor rule or regulation of the Commission that may at any time permit the Investor to sell securities of the
Company to the public without registration.

 

(dd)    “Rule 415”
means Rule 415 promulgated by the Commission under the Securities Act, as such rule may be amended from time to time, or any
other similar or successor rule or regulation of the Commission providing for offering securities on a delayed or continuous basis.

 

(ee)    “Securities
Act” means the Securities Act of 1933, as amended.

 

(ff)    “Staff”
shall have the meaning assigned to such term in Section 2(d).

 

     

     

    

 

(gg)    “Violations”
shall have the meaning assigned to such term in Section 6(a).

 

2.             Registration.

 

(a)        Mandatory
Registration. The Company shall prepare and, as soon as practicable, but in no event later than the Filing Deadline, file with the
Commission an initial Registration Statement on Form F-1 (or any successor form) covering the resale by the Investor of (i) all
of the Commitment Shares and (ii) the maximum number of additional Registrable Securities as shall be permitted to be included thereon
in accordance with applicable Commission rules, regulations and interpretations so as to permit the resale of such Registrable Securities
by the Investor under Rule 415 under the Securities Act at then prevailing market prices (and not fixed prices) (the “Initial
Registration Statement”). The Initial Registration Statement shall contain the “Selling Shareholder” and “Plan
of Distribution” sections in substantially the form attached hereto as Exhibit B. The Company shall use its commercially
reasonable efforts to have the Initial Registration Statement declared effective by the Commission as soon as reasonably practicable
following the filing thereof with the Commission. Notwithstanding any provision herein to the contrary, the Company may, at its option,
convert the then current Registration Statement on Form F-1 to a Registration Statement on Form F-3.

 

(b)        Legal
Counsel. Subject to Section 5 hereof, the Investor shall have the right to select one legal counsel to review, solely on the
Investor’s behalf, each Registration Statement filed with the Commission pursuant to this Section 2, which shall be Morrison &
Foerster LLP, or such other counsel as thereafter designated by the Investor (“Legal Counsel”). Except as provided
in Section 5 of this Agreement and Section 10.1(i) of the Purchase Agreement, the Company shall have no obligation to
reimburse the Investor for any legal fees and expenses of the Legal Counsel incurred in connection with the transactions contemplated
hereby.

 

(c)        Sufficient
Number of Shares Registered. If at any time all Registrable Securities are not covered by the Initial Registration Statement filed
pursuant to Section 2(a) as a result of Section 2(e) or otherwise, the Company shall use its commercially reasonable
efforts to file with the Commission one or more additional Registration Statements so as to cover all of the Registrable Securities not
covered by such initial Registration Statement, in each case, as soon as practicable (taking into account any position of the staff of
the Commission (“Staff”) with respect to the date on which the Staff will permit such additional Registration
Statement(s) to be filed with the Commission and the rules and regulations of the Commission) (each such additional Registration
Statement, a “New Registration Statement”), but in no event later than the applicable Filing Deadline for such
New Registration Statement(s). The Company shall use its commercially reasonable efforts to cause each such New Registration Statement
to become effective as soon as reasonably practicable following the filing thereof with the Commission.

 

(d)        No
Inclusion of Other Securities. In no event shall the Company include any securities other than Registrable Securities on any Registration
Statement pursuant to Section 2(a) or Section 2(c) without consulting the Investor and Legal Counsel prior to filing
such Registration Statement with the Commission.

 

(e)        Replacement
Registration Statement. If the Staff or the Commission seeks to characterize any offering pursuant to a Registration Statement filed
pursuant to this Agreement as constituting an offering of securities that does not permit such Registration Statement to become effective
and be used for resales by the Investor on a delayed or continuous basis under Rule 415 at then-prevailing market prices (and not
fixed prices), or if after the filing of any Registration Statement pursuant to Section 2(a) or Section 2(c), the Company
is otherwise required by the Staff or the Commission to reduce the number of Registrable Securities included in such Registration Statement,
then the Company shall reduce the number of Registrable Securities to be included in such Registration Statement (after consultation
with the Investor and Legal Counsel as to the specific Registrable Securities to be removed therefrom) until such time as the Staff and
the Commission shall so permit such Registration Statement to become effective and be used as aforesaid. Notwithstanding anything in
this Agreement to the contrary, if after giving effect to the actions referred to in the immediately preceding sentence, the Staff or
the Commission does not permit such Registration Statement to become effective and to be used for resales by the Investor on a delayed
or continuous basis under Rule 415 at then-prevailing market prices (and not fixed prices), the Company shall not request acceleration
of the Effective Date of such Registration Statement, and the Company shall promptly (but in no event later than the second Business
Day following final notification by the Staff) request the withdrawal of such Registration Statement pursuant to Rule 477 under
the Securities Act. In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall use its commercially
reasonable efforts to file one or more New Registration Statements with the Commission in accordance with Section 2(c) until
such time as all Registrable Securities have been included in Registration Statements that have been declared effective and the Prospectuses
contained therein are available for use by the Investor. Notwithstanding any provision herein or in the Purchase Agreement to the contrary,
the Company’s obligations to register Registrable Securities (and any related conditions to the Investor’s obligations) shall
be qualified as necessary to comport with any requirement of the Staff or the Commission as addressed in this Section 2(d).

 

     

     

    

 

(f)        Statutory
Underwriter Status. The Investor acknowledges that it will be disclosed as an “underwriter” and a “selling shareholder”
in each Registration Statement and in any Prospectus contained therein to the extent required by applicable law and to the extent the
Prospectus is related to the resale of Registrable Securities by the Investor.

 

3.             Related
Obligations.

 

The Company shall use its
commercially reasonable efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition
thereof, and, pursuant thereto, the Company shall have the following obligations:

 

(a)        Subject
to Allowable Grace Periods, the Company shall use commercially reasonable efforts to keep each Registration Statement effective (and
the Prospectus contained therein available for use) pursuant to Rule 415 for resales by the Investor on a continuous basis at then-prevailing
market prices (and not fixed prices) at all times until the earliest of (i) the date on which the Investor shall have sold all of
the Registrable Securities covered by such Registration Statement, (ii) the date that is one-hundred and eighty (180) days after
the effective date of the termination of the Purchase Agreement in accordance with Article VIII of the Purchase Agreement, if as
of such effective date the Investor holds any Registrable Securities, and (iii) the effective date of the termination of the Purchase
Agreement in accordance with Article VIII of the Purchase Agreement, if as of such effective date the Investor holds no Registrable
Securities (the “Registration Period”). Notwithstanding anything to the contrary contained in this Agreement
(but subject to the provisions of Section 3(p) hereof), the Company shall ensure that, when filed and at all times while effective,
each Registration Statement (including, without limitation, all amendments and supplements thereto) and the Prospectus (including, without
limitation, all amendments and supplements thereto) used in connection with such Registration Statement shall not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein
(in the case of Prospectuses, in the light of the circumstances in which they were made) not misleading except that this clause shall
not apply to statements in or omissions from such Registration Statement made in reliance upon and in conformity with information furnished
in writing to the Company by the Investor expressly for use in connection with the preparation of each Registration Statement (including,
without limitation, all amendments and supplements thereto) and the Prospectus (including, without limitation, all amendments and supplements
thereto) used in connection with such Registration Statement (it being hereby acknowledged and agreed that the written information set
forth on Exhibit C attached hereto is the only written information furnished to the Company by or on behalf of
the Investor expressly for such use)(such information, the “Investor Information”).

 

     

     

    

 

(b)        Subject
to Section 3(p) of this Agreement, the Company shall use its commercially reasonable efforts to prepare and file with the Commission
such amendments (including, without limitation, post-effective amendments) and supplements to each Registration Statement and the Prospectus
used in connection with each such Registration Statement, which Prospectus is to be filed pursuant to Rule 424 promulgated under
the Securities Act, as may be necessary to keep each such Registration Statement effective (and the Prospectus contained therein current
and available for use) at all times during the Registration Period for such Registration Statement, and, during such period, comply with
the provisions of the Securities Act with respect to the disposition of all Registrable Securities of the Company covered by such Registration
Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of
disposition by the Investor as set forth in such Registration Statement. Without limiting the generality of the foregoing, the Company
covenants and agrees that (i) at or before 5:30 p.m. (New York City time) on the second Trading Day immediately following the
Effective Date of the Initial Registration Statement and any New Registration Statement (or any post-effective amendment thereto), the
Company shall file with the Commission in accordance with Rule 424(b) under the Securities Act the final Prospectus to be used
in connection with sales pursuant to such Registration Statement (or post-effective amendment thereto), and (ii) if the transactions
contemplated by any VWAP Purchase are material to the Company (individually or collectively with all other prior VWAP Purchases, the
consummation of which have not previously been reported in any Prospectus Supplement filed with the Commission under Rule 424(b) under
the Securities Act or in any report, statement or other document filed by the Company with the Commission under the Exchange Act), or
if otherwise required under the Securities Act (or the interpretations of the Commission thereof), in each case as reasonably determined
by the Company, then, at or before 9:00 a.m. (New York City time) on the applicable VWAP Purchase Settlement Date for such VWAP
Purchase, the Company shall file with the Commission a Prospectus Supplement pursuant to Rule 424(b) under the Securities Act
with respect to the applicable VWAP Purchase(s), disclosing the total number of Shares that are to be (and, if applicable, have been)
issued and sold to the Investor pursuant to such VWAP Purchase(s), the total purchase price for the Shares subject to such VWAP Purchase(s),
the applicable purchases price(s) for such Shares and the net proceeds that are to be (and, if applicable, have been) received by
the Company from the sale of such Shares. To the extent not previously disclosed in the Prospectus or a Prospectus Supplement, the Company
shall disclose in its Annual Reports on Form 20-F the information described in the immediately preceding sentence relating to all
VWAP Purchase(s) consummated during the relevant fiscal year and shall file such reports with the Commission within the applicable
time period prescribed for such report under the Exchange Act. In the case of amendments and supplements to any Registration Statement
on Form F-1 or Prospectus related thereto which are required to be filed pursuant to this Agreement (including, without limitation,
pursuant to this Section 3(b)) by reason of the Company filing a report on Form 6-K, Form 20-F or any analogous report
under the Exchange Act, the Company shall have incorporated such report by reference into such Registration Statement and Prospectus,
if applicable, or shall file such amendments or supplements to the Registration Statement or Prospectus with the Commission on the same
day on which the Exchange Act report is filed which created the requirement for the Company to amend or supplement such Registration
Statement or Prospectus, for the purpose of including or incorporating such report into such Registration Statement and Prospectus. The
Company consents to the use of the Prospectus (including, without limitation, any supplement thereto) included in each Registration Statement
in accordance with the provisions of the Securities Act and with the securities or “Blue Sky” laws of the jurisdictions in
which the Registrable Securities may be sold by the Investor, in connection with the resale of the Registrable Securities and for such
period of time thereafter as such Prospectus (including, without limitation, any supplement thereto) (or in lieu thereof, the notice
referred to in Rule 173(a) under the Securities Act) is required by the Securities Act to be delivered in connection with resales
of Registrable Securities.

 

     

     

    

 

(c)        The
Company shall (A) permit Investor and Legal Counsel an opportunity to review and comment upon each Registration Statement and all
amendments and supplements thereto at least two (2) Business Days prior to its filing with the Commission and (B) shall reasonably
consider any reasonable comments of the Investor and Legal Counsel on any such Registration Statement or amendment or supplement thereto
or to any Prospectus contained therein. Investor shall use its reasonable best efforts to comment, and cause Legal Counsel to comment,
upon any such Registration Statement or amendment or supplement thereto provided by the Company within one (1) Business Day of receipt.
The Company shall promptly furnish to Legal Counsel, without charge, electronic copies of any correspondence from the Commission or the
Staff to the Company or its representatives relating to each Registration Statement (which correspondence shall be redacted to exclude
any material, non-public information regarding the Company or any of its Subsidiaries).

 

(d)        Without
limiting any obligation of the Company under the Purchase Agreement, the Company shall promptly furnish to the Investor, without charge,
(i) after the same is prepared and filed with the Commission, at least one (1) electronic copy of each Registration Statement
and any amendment(s) and supplement(s) thereto, including, without limitation, financial statements and schedules, all documents
incorporated therein by reference, if requested by the Investor, all exhibits thereto, (ii) upon the effectiveness of each Registration
Statement, one (1) electronic copy of the Prospectus included in such Registration Statement and all amendments and supplements
thereto and (iii) such other documents, including, without limitation, copies of any final Prospectus and any Prospectus Supplement
thereto, as the Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities
owned by the Investor; provided, however, the Company shall not be required to furnish any document to the Investor to the extent such
document is available on EDGAR.

 

     

     

    

 

(e)        The
Company shall take such action as is reasonably necessary to (i) register and qualify, unless an exemption from registration and
qualification applies, the resale by the Investor of the Registrable Securities covered by a Registration Statement under such other
securities or “Blue Sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions,
such amendments (including, without limitation, post-effective amendments) and supplements to such registrations and qualifications as
may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be reasonably
necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv) take
all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however,
the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in any jurisdiction
where it would not otherwise be required to qualify but for this Section 3(e), (y) subject itself to general taxation in any
such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify
Legal Counsel and the Investor of the receipt by the Company of any written notification with respect to the suspension of the registration
or qualification of any of the Registrable Securities for sale under the securities or “Blue Sky” laws of any jurisdiction
in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

 

(f)         The
Company shall notify Legal Counsel and the Investor in writing of the happening of any event, as promptly as reasonably practicable after
becoming aware of such event, as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an
untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain
any material, non-public information regarding the Company or any of its Subsidiaries), and, subject to Section 3(p), promptly prepare
a supplement or amendment to such Registration Statement and such Prospectus contained therein to correct such untrue statement or omission
and deliver one (1) electronic copy of such supplement or amendment to Legal Counsel and the Investor (or such other number of copies
as Legal Counsel or the Investor may reasonably request). The Company shall also promptly notify Legal Counsel and the Investor in writing
(i) when a Prospectus or any Prospectus Supplement or post-effective amendment has been filed, when a Registration Statement or
any post-effective amendment has become effective (notification of such effectiveness shall be delivered to Legal Counsel and the Investor
by facsimile or e-mail on the same day of such effectiveness), (ii) of any request by the Commission for amendments or supplements
to a Registration Statement or related Prospectus or related information, and (iii) of the Company’s reasonable determination
that a post-effective amendment to a Registration Statement would be appropriate. The Company shall respond as promptly as reasonably
practicable to any comments received from the Commission with respect to a Registration Statement or any amendment thereto.

 

(g)        The
Company shall (i) use its commercially reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness
of a Registration Statement or the use of any Prospectus contained therein, or the suspension of the qualification, or the loss of an
exemption from qualification, of any of the Registrable Securities for sale in any jurisdiction and, if such an order or suspension is
issued, to obtain the withdrawal of such order or suspension at the earliest possible time and (ii) notify Legal Counsel and the
Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any
proceeding.

 

(h)        The
Company shall hold in confidence and not make any disclosure of information concerning the Investor provided to the Company unless (i) disclosure
of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary
to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required to be disclosed in such Registration
Statement pursuant to the Securities Act, (iii) the release of such information is ordered pursuant to a subpoena or other final,
non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information has been made generally
available to the public other than by disclosure in violation of this Agreement or any other Transaction Document. The Company agrees
that it shall, upon learning that disclosure of such information concerning the Investor is sought in or by a court or governmental body
of competent jurisdiction or through other means, give prompt written notice to the Investor and allow the Investor, at the Investor’s
expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

 

(i)        Without
limiting any obligation of the Company under the Purchase Agreement, the Company shall use its commercially reasonable efforts either
to (i) cause all of the Registrable Securities covered by each Registration Statement to be listed on the Trading Market or (ii) secure
designation and quotation of all of the Registrable Securities covered by each Registration Statement on another Eligible Market. The
Company shall pay all fees and expenses in connection with satisfying its obligation under the preceding sentence. In addition, the Company
shall reasonably cooperate with the Investor and any Broker-Dealer through which the Investor proposes to sell its Registrable Securities
in effecting a filing with FINRA pursuant to FINRA Rule 5110 as requested by the Investor.

 

(j)        The
Company shall cooperate with the Investor and, to the extent applicable, facilitate the timely preparation and delivery of Registrable
Securities, as DWAC Shares, to be offered pursuant to a Registration Statement and enable such DWAC Shares to be in such denominations
or amounts (as the case may be) as the Investor may reasonably request from time to time and registered in such names as the Investor
may request. Investor hereby agrees that it shall cooperate with the Company, its counsel and transfer agent in connection with any issuances
of the DWAC Shares, and hereby represents, warrants and covenants to the Company that that it will resell such Shares only pursuant to
the Registration Statement in which such DWAC Shares are included, in a manner described under the caption “Plan of Distribution”
in such Registration Statement, and in a manner in compliance with all applicable U.S. federal and state securities laws, rules and
regulations, including, without limitation, any applicable prospectus delivery requirements of the Securities Act. DWAC Shares shall
be free from all restrictive legends (except as otherwise required by this Agreement, the Purchase Agreement or applicable federal or
state securities laws) and may be transmitted by the Company’s transfer agent to the Investor by crediting an account at DTC as
directed in writing by the Investor.

 

(k)        Upon
the written request of the Investor, the Company shall as soon as reasonably practicable after receipt of notice from the Investor and
subject to Section 3(p) hereof, (i) incorporate in a Prospectus Supplement or post-effective amendment such information
as the Investor reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including,
without limitation, information with respect to the number of Registrable Securities being offered or sold, the purchase price being
paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) make all required
filings of such Prospectus Supplement or post-effective amendment after being notified of the matters to be incorporated in such Prospectus
Supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement or Prospectus contained
therein if reasonably requested by the Investor.

 

     

     

    

 

(l)        The
Company shall use its commercially reasonable efforts to cause the Registrable Securities covered by a Registration Statement to be registered
with or approved by such other governmental agencies or authorities in the United States as may be necessary to consummate the disposition
of such Registrable Securities.

 

(m)        The
Company shall make generally available to its security holders (which may be satisfied by making such information available on EDGAR)
as soon as practical, but not later than four (4) months after the close of the period covered thereby, an earnings statement (in
form complying with, and in the manner provided by, the provisions of Rule 158 under the Securities Act) covering a twelve-month
period beginning not later than the first day of the Company’s fiscal year next following the applicable Effective Date of each
Registration Statement.

 

(n)        The
Company shall otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission
in connection with any registration hereunder.

 

(o)        Within
one (1) Business Day after each Registration Statement which covers Registrable Securities is declared effective by the Commission,
the Company shall deliver, or cause to be delivered , to the transfer agent for such Registrable Securities (with copies to the Investor)
confirmation that such Registration Statement has been declared effective by the Commission in the form attached hereto as Exhibit A.

 

(p)        Notwithstanding
anything to the contrary contained herein or in the Purchase Agreement (but subject to the last sentence of this Section 3(p)),
at any time after the Effective Date of a particular Registration Statement, the Company may, upon written notice to the Investor, suspend
the Investor’s use of any Prospectus that is a part of any Registration Statement (in which event the Investor shall discontinue
sales of the Registrable Securities pursuant to such Registration Statement contemplated by this Agreement, but shall settle any previously
made sales of Registrable Securities) if the Company (x) is pursuing an acquisition, merger, tender offer, reorganization, disposition
or other similar transaction and the Company determines in good faith that (A) the Company’s ability to pursue or consummate
such a transaction would be materially adversely affected by any required disclosure of such transaction in such Registration Statement
or other Registration Statement or (B) such transaction renders the Company unable to comply with Commission requirements, in each
case under circumstances that would make it impractical or inadvisable to cause any Registration Statement (or such filings) to be used
by Investor or to promptly amend or supplement any Registration Statement contemplated by this Agreement on a post effective basis, as
applicable, (y) in accordance with applicable Commission rules, regulations and interpretations, is required to file a post-effective
amendment to the Registration Statement and such post-effective amendment is subject to the review of the Commission or (z) has
experienced some other material non-public event the disclosure of which at such time, in the good faith judgment of the Company, would
materially adversely affect the Company (each, an “Allowable Grace Period”); provided, however,
that in no event shall the Investor be suspended from selling Registrable Securities pursuant to any Registration Statement for a period
that exceeds thirty (30) consecutive Trading Days or an aggregate of sixty (60) Trading Days in any 365-day period without the Investor’s
consent; and provided, further, the Company shall not effect any such suspension during (I) the first ten (10) consecutive
Trading Days after the Effective Date of the particular Registration Statement or (II) the ten (10) consecutive Trading Day
period commencing on the Trading Day immediately preceding each VWAP Purchase Exercise Date. Upon disclosure of such information or the
termination of the condition described above, the Company shall provide prompt notice, but in any event within one Business Day of such
disclosure or termination, to the Investor and shall promptly terminate any suspension of sales it has put into effect and shall take
such other reasonable actions to permit registered sales of Registrable Securities as contemplated in this Agreement (including as set
forth in the first sentence of Section 3(f) with respect to the information giving rise thereto unless such material, non-public
information is no longer applicable). Notwithstanding anything to the contrary contained in this Section 3(p), the Company shall
cause its transfer agent to deliver DWAC Shares, free from all restrictive legends (except as otherwise required by this Agreement, the
Purchase Agreement or applicable federal or state securities laws), to a transferee of the Investor in accordance with the terms of the
Purchase Agreement in connection with any sale of Registrable Securities with respect to which (i) the Company has made a sale to
Investor and (ii) the Investor has entered into a contract for sale, and delivered a copy of the Prospectus included as part of
the particular Registration Statement to the extent applicable, in each case prior to the Investor’s receipt of the notice of an
Allowable Grace Period and for which the Investor has not yet settled.

 

     

     

    

 

4.             Obligations
of the Investor.

 

(a)        At
least five (5) Business Days prior to the first anticipated filing date of each Registration Statement (or such shorter period to
which the parties agree), the Company shall notify the Investor in writing of the information the Company requires from the Investor
with respect to such Registration Statement, and the Investor shall (i) promptly furnish to the Company such information regarding
itself, the Registrable Securities held by it and the intended method of disposition of such Registrable Securities, as shall be reasonably
required to effect and maintain the effectiveness of the registration of such Registrable Securities and (ii) promptly execute such
documents in connection with such registration as the Company may reasonably request.

 

(b)        The
Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of
each Registration Statement hereunder.

 

(c)        The
Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(p) or
the first sentence of 3(f), the Investor shall immediately discontinue disposition of Registrable Securities pursuant to any Registration
Statement(s) covering such Registrable Securities until the Investor’s receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 3(p) or the first sentence of Section 3(f) or receipt of notice that no supplement
or amendment is required. Notwithstanding anything to the contrary in this Section 4(c), the Company shall cause its transfer agent
to deliver DWAC Shares, free from all restrictive legends (except as otherwise required by this Agreement, the Purchase Agreement or
applicable federal or state securities laws), to a transferee of the Investor in accordance with the terms of the Purchase Agreement
in connection with any sale of Registrable Securities with respect to which the Investor has entered into a contract for sale prior to
the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section 3(p) or
the first sentence of Section 3(f) and for which the Investor has not yet settled, in which case the Investor grants full and
final discharge for the obligation of the Company to deliver the relevant DWAC Shares to the Investor.

 

     

     

    

 

(d)        The
Investor covenants and agrees that it shall comply with the prospectus delivery and other requirements of the Securities Act as applicable
to it in connection with sales of Registrable Securities pursuant to a Registration Statement.

 

5.             Expenses
of Registration.

 

All
expenses of the Company incurred in connection with registrations, filings or qualifications pursuant to Sections 2 and 3 of this Agreement,
including, without limitation, all registration, listing and qualification fees, printers and accounting fees, and fees and disbursements
of counsel for the Company, shall be paid by the Company. In addition, the Company shall pay, by wire transfer of immediately
available funds to an account designated by the Investor, an aggregate amount of $5,000 as reimbursement for Legal Counsel’s fees
related to its review of the Initial Registration Statement. Except as provided in this Section 5 and Section 10.1(i) of
the Purchase Agreement, the Company shall have no obligation to reimburse the Investor for any expenses of the Investor incurred in connection
with such registrations, filings or qualifications pursuant to this Agreement, including sales and brokerage commissions incurred by
the Investor in connection with sales of Registrable Securities pursuant to a Registration Statement.

 

6.            Indemnification.

 

(a)        In
the event any Registrable Securities are included in any Registration Statement under this Agreement, to the fullest extent permitted
by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each of its directors, officers, shareholders,
members, partners, employees, agents, advisors, representatives (and any other Persons with a functionally equivalent role of a Person
holding such titles notwithstanding the lack of such title or any other title) and each Person, if any, who controls the Investor within
the meaning of the Securities Act or the Exchange Act and each of the directors, officers, shareholders, members, partners, employees,
agents, advisors, representatives (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
the lack of such title or any other title) of such controlling Persons (each, an “Investor Party” and collectively,
the “Investor Parties”), against any losses, obligations, claims, damages, liabilities, contingencies, judgments,
fines, penalties, charges, costs (including, without limitation, court costs, reasonable attorneys’ fees, costs of defense and
investigation), amounts paid in settlement or expenses, joint or several, (collectively, “Claims”) reasonably
incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the
foregoing by or before any court or governmental, administrative or other regulatory agency, body or the Commission, whether pending
or threatened, whether or not an Investor Party is or may be a party thereto (“Indemnified Damages”), to which
any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement
or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities
or other “Blue Sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus (as amended
or supplemented) or in any Prospectus Supplement or the omission or alleged omission to state therein any material fact necessary to
make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading (the matters
in the foregoing clauses (i) and (ii) being, collectively, “Violations”). Subject to Section 6(c),
the Company shall reimburse the Investor Parties, promptly as such expenses are incurred and are due and payable, for any legal fees
or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything
to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim
by an Investor Party arising out of or based upon a Violation which occurs in reliance upon and in conformity with the Investor Information;
(ii) shall not be available to the Investor to the extent such Claim is based on a failure of the Investor to deliver or to cause
to be delivered the Prospectus (as amended or supplemented) made available by the Company (to the extent applicable), including, without
limitation, a corrected Prospectus, if such Prospectus (as amended or supplemented) or corrected Prospectus was timely made available
by the Company pursuant to Section 3(d) and then only if, and to the extent that, following the receipt of the corrected Prospectus
no grounds for such Claim would have existed; and (iii) shall not apply to amounts paid in settlement of any Claim if such settlement
is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld or delayed. Such indemnity
shall remain in full force and effect regardless of any investigation made by or on behalf of the Investor Party and shall survive the
transfer of any of the Registrable Securities by the Investor pursuant to Section 9.

 

     

     

    

 

(b)        In
connection with any Registration Statement in which the Investor is participating, the Investor agrees to severally and not jointly indemnify,
hold harmless and defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors,
each of its officers who signs the Registration Statement and each Person, if any, who controls the Company within the meaning of the
Securities Act or the Exchange Act (each, a “Company Party” and, collectively, the “Company Parties”),
against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act or otherwise,
insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case, to the extent, and only to the
extent, that such Violation occurs in reliance upon and in conformity with the Investor Information; and, subject to Section 6(c) and
the below provisos in this Section 6(b), the Investor shall reimburse a Company Party any legal or other expenses reasonably incurred
by such Company Party in connection with investigating or defending any such Claim; provided, however, the indemnity
agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not
apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor, which
consent shall not be unreasonably withheld or delayed; and provided, further that the Investor shall be liable
under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor
as a result of the applicable sale of Registrable Securities pursuant to such Registration Statement, Prospectus or Prospectus Supplement.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Company Party and shall
survive the transfer of any of the Registrable Securities by the Investor pursuant to Section 9.

 

     

     

    

 

(c)        Promptly
after receipt by an Investor Party or Company Party (as the case may be) under this Section 6 of notice of the commencement of any
action or proceeding (including, without limitation, any governmental action or proceeding) involving a Claim, such Investor Party or
Company Party (as the case may be) shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6,
deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate
in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control
of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Investor Party or the Company Party (as the
case may be); provided, however, an Investor Party or Company Party (as the case may be) shall have the right
to retain its own counsel with the fees and expenses of such counsel to be paid by the indemnifying party if: (i) the indemnifying
party has agreed in writing to pay such fees and expenses; (ii) the indemnifying party shall have failed promptly to assume the
defense of such Claim and to employ counsel reasonably satisfactory to such Investor Party or Company Party (as the case may be) in any
such Claim; or (iii) the named parties to any such Claim (including, without limitation, any impleaded parties) include both such
Investor Party or Company Party (as the case may be) and the indemnifying party, and such Investor Party or such Company Party (as the
case may be) shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent
such Investor Party or such Company Party and the indemnifying party in which case, if such Investor Party or such Company Party (as
the case may be) notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the indemnifying
party, then the indemnifying party shall not have the right to assume the defense thereof on behalf of the indemnified party and such
counsel shall be at the expense of the indemnifying party, provided further that in the case of clause (iii) above
the indemnifying party shall not be responsible for the reasonable fees and expenses of more than one (1) separate legal counsel
for all Investor Parties or Company Parties (as the case may be). The Company Party or Investor Party (as the case may be) shall reasonably
cooperate with the indemnifying party in connection with any negotiation or defense of any such action or Claim by the indemnifying party
and shall furnish to the indemnifying party all information reasonably available to the Company Party or Investor Party (as the case
may be) which relates to such action or Claim. The indemnifying party shall keep the Company Party or Investor Party (as the case may
be) reasonably apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying
party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent; provided, however,
the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior
written consent of the Company Party or Investor Party (as the case may be), consent to entry of any judgment or enter into any settlement
or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Company Party
or Investor Party (as the case may be) of a release from all liability in respect to such Claim or litigation, and such settlement shall
not include any admission as to fault on the part of the Company Party. For the avoidance of doubt, the immediately preceding sentence
shall apply to Sections 6(a) and 6(b) hereof. Following indemnification as provided for hereunder, the indemnifying party shall
be subrogated to all rights of the Company Party or Investor Party (as the case may be) with respect to all third parties, firms or corporations
relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within
a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Investor Party
or Company Party (as the case may be) under this Section 6, except to the extent that the indemnifying party is materially and adversely
prejudiced in its ability to defend such action.

 

     

     

    

 

(d)        No
Person involved in the sale of Registrable Securities who is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) in connection with such sale shall be entitled to indemnification from any Person involved in such sale of Registrable
Securities who is not guilty of fraudulent misrepresentation.

 

(e)        The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred; provided that any Person receiving any
payment pursuant to this Section 6 shall promptly reimburse the Person making such payment for the amount of such payment to the
extent a court of competent jurisdiction determines that such Person receiving such payment was not entitled to such payment.

 

(f)        The
indemnity and contribution agreements contained herein shall be in addition to (i) any cause of action or similar right of the Company
Party or Investor Party against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject
to pursuant to the law.

 

7.             Contribution.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however:
(i) no contribution shall be made under circumstances where the maker would not have been liable for indemnification under the fault
standards set forth in Section 6 of this Agreement, (ii) no Person involved in the sale of Registrable Securities which Person
is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) in connection with such
sale shall be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (iii) contribution by any seller of Registrable Securities shall be limited in amount to the amount of net
proceeds received by such seller from the applicable sale of such Registrable Securities pursuant to such Registration Statement. Notwithstanding
the provisions of this Section 7, the Investor shall not be required to contribute, in the aggregate, any amount in excess of the
amount by which the net proceeds actually received by the Investor from the applicable sale of the Registrable Securities subject to
the Claim exceeds the amount of any damages that the Investor has otherwise been required to pay, or would otherwise be required to pay
under Section 6(b), by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

     

     

    

 

8.            Reports
Under the Exchange Act.

 

With a view to making available
to the Investor the benefits of Rule 144, the Company agrees to:

 

(a)        use
its commercially reasonable efforts to make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)        use
its commercially reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act so long as the Company remains subject to such requirements (it being understood that nothing
herein shall limit any of the Company’s obligations under the Purchase Agreement) and the filing of such reports and other documents
is required for the applicable provisions of Rule 144;

 

(c)        furnish
to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company,
if true, that it has complied with the reporting, submission and posting requirements of Rule 144 and the Exchange Act, (ii) a
copy of the most recent annual report of the Company and such other reports and documents so filed by the Company with the Commission
if such reports are not publicly available via EDGAR, and (iii) such other information as may be reasonably requested to permit
the Investor to sell such securities pursuant to Rule 144 without registration; and

 

(d)        take
such additional action as is reasonably requested by the Investor to enable the Investor to sell the Registrable Securities pursuant
to Rule 144, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions
to the Company’s transfer agent as may be reasonably requested from time to time by the Investor and otherwise fully cooperate
with Investor and Investor’s broker to effect such sale of securities pursuant to Rule 144.

 

9.            Assignment
of Registration Rights.

 

Neither the Company nor the
Investor shall assign this Agreement or any of their respective rights or obligations hereunder; provided, that any transaction,
whether by merger, reorganization, restructuring, consolidation, financing or otherwise, whereby the Company remains the surviving entity
immediately after such transaction shall not be deemed an assignment.

 

10.           Amendment
or Waiver.

 

No provision of this Agreement
may be amended or waived by the parties from and after the date that is one (1) Trading Day immediately preceding the date on which
the Initial Registration Statement is initially filed with the Commission. Subject to the immediately preceding sentence, no provision
of this Agreement may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other
than in a written instrument signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise
any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a
waiver thereof.

 

     

     

    

 

11.          Miscellaneous.

 

(a)        Solely
for purposes of this Agreement, a Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to
own of record such Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons
with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from
such record owner of such Registrable Securities.

 

(b)        Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement shall be given
in accordance with Section 10.4 of the Purchase Agreement.

 

(c)        The
Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that either party shall
be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to
enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any bond or other security
being required), this being in addition to any other remedy to which either party may be entitled by law or equity.

 

(d)        All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws
of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State
of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New
York. Each party hereby irrevocably submits to the exclusive jurisdiction of the federal courts sitting in The City of New York, Borough
of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or
that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices
to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or
enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement
in any other jurisdiction. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL
FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

 

(e)        The
Transaction Documents set forth the entire agreement and understanding of the parties solely with respect to the subject matter thereof
and supersedes all prior and contemporaneous agreements, negotiations and understandings between the parties, both oral and written,
solely with respect to such matters. There are no promises, undertakings, representations or warranties by either party relative to the
subject matter hereof not expressly set forth in the Transaction Documents. Notwithstanding anything in this Agreement to the contrary
and without implication that the contrary would otherwise be true, nothing contained in this Agreement shall limit, modify or affect
in any manner whatsoever (i) the conditions precedent to a VWAP Purchase contained in Article VII of the Purchase Agreement
or (ii) any of the Company’s obligations under the Purchase Agreement.

 

     

     

    

 

(f)        This
Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors. This Agreement is not
for the benefit of, nor may any provision hereof be enforced by, any Person, other than the parties hereto, their respective successors
and the Persons referred to in Sections 6 and 7 hereof (and in such case, solely for the purposes set forth therein).

 

(g)        The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. Unless the
context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural
forms thereof. The terms “including,” “includes,” “include” and words of like import shall be construed
broadly as if followed by the words “without limitation.” The terms “herein,” “hereunder,” “hereof”
and words of like import refer to this entire Agreement instead of just the provision in which they are found.

 

(h)        This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile signature
or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying with the U.S.
federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution and shall be
binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

(i)        Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such
other agreements, certificates, instruments and documents as any other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(j)        The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of
strict construction will be applied against any party.

 

12.           Termination.

 

This Agreement shall terminate
in its entirety upon the earlier of (i) the date on which the Investor shall have sold all the Registrable Securities and (ii) one-hundred
and eighty (180) days following the date of termination of the Purchase Agreement; provided, that the provisions of Sections
4, 6, 7, 9, 10 and 11 shall remain in full force and effect.

 

[Signature Pages Follow]

 

     

     

    

 

IN
WITNESS WHEREOF, Investor and the Company have caused their respective signature page to this Agreement to be duly
executed as of the date first written above.

 

	 	COMPANY: 
	 	 	 
	 	LILIUM N.V.: 
	 	 	 
	 	 	 
	 	By:	/s/ Michael Andersen
	 	 	Name:
    Michael Andersen
	 	 	Title:
    Deputy Chief Financial Officer

 

     

     

    

 

IN
WITNESS WHEREOF, Investor and the Company have caused their respective signature page to this Agreement to be duly
executed as of the date first written above.

 

	 	INVESTOR: 
	 	 	 
	 	TUMIM STONE CAPITAL LLC 
	 	 	 
	 	 	 
	 	By:	/s/ Maier J. Tarlow
	 	 	Name:
    Maier J. Tarlow
	 	 	Title:
    Manager on Behalf of the GP

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]