Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

January 20, 2022 
 KNIGHTSWAN ACQUISITION
CORPORATION 
 99 Wall Street, Suite 460 
 New York, New
York 10005 
 Re: Initial Public Offering 
 Ladies and
Gentlemen: 
 This letter (this “Letter Agreement”) is being delivered to you in accordance with that certain
underwriting agreement (the “Underwriting Agreement”) entered into or proposed to be entered into by and between KnightSwan Acquisition Corporation, a Delaware corporation (the “Company”), and RBC
Capital Markets, LLC, as underwriter (the “Underwriter” ), relating to an underwritten initial public offering (the “Public Offering”), of 23,000,000 of the Company’s units (including up to
3,000,000 units that may be purchased to cover the Underwriter’s option to purchase additional units, if any) (the “Units”), each comprised of one share of Class A common stock, par value $0.0001 per share, of the
Company (“Class A Common Stock”), and one-half of one redeemable public warrant (each whole public warrant, a “Public Warrant”).
Each Public Warrant entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment, as described in the Prospectus (as defined below). The Units will be sold in the Public
Offering pursuant to a registration statement on Form S-1 and a prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the
“Commission”) and the Company has applied to have the Units listed on the New York Stock Exchange. Certain capitalized terms used herein are defined in Section 11. 

In order to induce the Company and the Underwriter to enter into the Underwriting Agreement and to proceed with the Public Offering and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, KnightSwan Sponsor LLC, a Delaware limited liability company (the “Sponsor”), and the other undersigned persons (each such
other undersigned persons, an “Insider” and, collectively, the “Insiders”), each hereby agrees, severally but not jointly, with the Company as follows: 

1. The Sponsor and each Insider agrees that, if the Company seeks stockholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor of such proposed Business Combination (including any proposals recommended by the Company’s board of
directors in connection with such proposed Business Combination) and (ii) not redeem any shares of Capital Stock owned by it, him or her in connection with such stockholder approval. If the Company seeks to consummate a proposed Business
Combination by engaging in a tender offer, the Sponsor and each Insider agrees that it, he or she will not sell or tender any shares of Capital Stock owned by it, him or her to the Company in connection therewith. 

2. The Sponsor and each Insider hereby agrees that, in the event that the Company fails to consummate a Business Combination before the later
of (i) eighteen (18) months from the closing of the Public Offering, (ii) such later date as provided by Section 9.1(c) of the Company’s amended and restated certificate of incorporation (as further amended, supplemented or
otherwise modified from time to time, the “Certificate of Incorporation”)) and (iii) such later date as may be approved by the Company’s stockholders in accordance with the Certificate of Incorporation 

 (the “Completion Window”), the Sponsor and each Insider shall take all reasonable
steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten (10) business days thereafter, subject to lawfully available funds therefor,
redeem one-hundred percent (100%) of the Class A Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”), at a per share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable (“Permitted Withdrawals”) and less up to $100,000 of interest to pay dissolution expenses),
divided by the number of the then outstanding Offering Shares, which redemption will completely extinguish all of the Public Stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject
in each case to the Company’s obligations under Delaware law to provide for claims of creditors and any other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Certificate of Incorporation
(A) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with the Company’s initial Business Combination or to redeem one-hundred percent (100%) of
the Offering Shares if the Company does not complete its initial Business Combination within the Completion Window or (B) with respect to any other material provision relating to stockholders’ rights or
pre-initial Business Combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of Permitted Withdrawals), divided by the number of the then outstanding Offering Shares. 

The Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies or any
other asset held in the Trust Account as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of Capital Stock held by
it, him or her, if any, any redemption rights it, he or she may have in connection with (x) a Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to approve such Business
Combination or in the context of a tender offer made by the Company to purchase shares of Class A Common Stock and (y) a stockholder vote to approve an amendment to the Certificate of Incorporation (A) to modify the substance or
timing of the Company’s obligation to allow redemptions in connection with the Company’s initial Business Combination or to redeem one-hundred percent (100%) of the Offering Shares if the Company has
not consummated its initial Business Combination within the Completion Window or (B) with respect to any other material provision relating to stockholders’ rights or pre-initial Business Combination
activity (although the Sponsor and each Insider shall be entitled to redemption and liquidation rights with respect to any Offering Shares it, he or she holds if the Company fails to consummate a Business Combination within the Completion Window).

 3. Notwithstanding the provisions set forth in Sections 7(a) and (b), during the period commencing on the effective date of
the Underwriting Agreement and ending one-hundred-eighty (180) days after such date, the Sponsor and each Insider shall not, without the prior written consent of the Underwriter, (i) offer, sell,
contract to sell, pledge or grant any option to purchase or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be 

  
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expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)), directly or indirectly, or establish or increase a
put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder (the
“Exchange Act”), with respect to any Units, shares of Class A Common Stock, Public Warrants or any securities convertible into, or exercisable or exchangeable for, shares of Class A Common Stock, (ii) enter
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Class A Common Stock, Public Warrants or any securities convertible into, or exercisable or
exchangeable for, shares of Class A Common Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) or publicly announce an intention to effect any such
transaction specified in clause (i) or (ii); provided, however, that the foregoing does not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of any Founder Shares to any current or future
independent director or advisor of the Company (as long as such current or future independent director or advisor transferee is subject to this Letter Agreement or executes an agreement substantially identical to the terms of this Letter Agreement,
as applicable to directors, officers and advisors at the time of such transfer and as long as, to the extent any reporting obligation pursuant to Section 16 of the Exchange Act is triggered as a result of such transfer, any related filing
includes a practical explanation as to the nature of the transfer). The Sponsor and each Insider acknowledge and agree that, prior to the effective date of any release or waiver of the restrictions set forth in this
Section 3 or 7, the Company shall announce the impending release or waiver by press release through a major news service at least two (2) business days before the effective date of the release or waiver. Any
such release or waiver granted shall only be effective two (2) business days after the publication date of such press release. The provisions of this Section 3 shall not apply if (i) the release or waiver is
effected solely to permit a transfer of securities that is not for consideration and (ii) the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms
remain in effect at the time of the transfer. 
 4. In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of
clarification shall not extend to any other holder of limited liability company interests or any member or manager of the Sponsor or any other Insider) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim,
damage and expense whatsoever (including, without limitation, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which
the Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent registered public accounting firm) for services rendered or products sold to the Company or (ii) a prospective target
business with which the Company has discussed entering into an agreement for a Business Combination (a “Target”); provided, however, that such indemnification of the Company by the Sponsor shall apply only to
the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s independent registered public accounting firm) or products sold to the Company or a Target do not reduce the amount of funds in the
Trust Account to below (i) $10.10 per Offering Share or (ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets as of the
date of the liquidation of the Trust Account, in each case, net of Permitted Withdrawals, except as to any 

  
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claims by a third party which executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriter against
certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any
liability for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within fifteen (15) days following written receipt of notice of the
claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense. For the avoidance of doubt, none of the Company’s officers, directors or advisors shall indemnify the Company for claims by third parties,
including, without limitation, claims by vendors or any Target. 
 5. To the extent that the Underwriter does not exercise its
over-allotment option to purchase up to an additional 3,000,000 Units within forty-five (45) days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees that it shall forfeit, at no cost, an aggregate
number of the Founder Shares in the aggregate equal to the product of (a) 750,000 multiplied by a fraction, (i) the numerator of which is 3,000,000 minus the number of Units purchased by the Underwriter upon the exercise of its option to
purchase additional Units, and (ii) the denominator of which is 3,000,000. All references in this Letter Agreement to any Founder Shares of the Company being forfeited shall take effect as a contribution of such Founder Shares to the
Company’s capital as a matter of Delaware law. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriter so that the number of the Founder Shares will equal an aggregate of twenty
percent (20.0%) of the Company’s issued and outstanding shares of Capital Stock following the Public Offering. The Sponsor and each Insider further agree that, to the extent that the size of the Public Offering is increased or decreased, the
Company will effect a capitalization, stock repurchase or redemption or stock split, reverse stock split or other appropriate mechanism, as applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain the
number of the Founder Shares at twenty percent (20.0%) of the Company’s issued and outstanding shares of Capital Stock following the Public Offering. In connection with such increase or decrease in the size of the Public Offering, then
(A) the references to 3,000,000 in the numerator and denominator of the formula set forth in the first sentence of this Section 5 shall be changed to a number equal to fifteen percent (15.0%) of the number of shares of
Class A Common Stock included in the Units issued in the Public Offering and (B) the reference to 750,000 in the formula set forth in the first sentence of this Section 5 shall be adjusted to such number of the
Founder Shares that the Sponsor would have to return to the Company in order for the number of the Founder Shares to equal an aggregate of twenty percent (20.0%) of the Company’s issued and outstanding shares of Capital Stock following the
Public Offering. 
 6. The Sponsor and each Insider hereby agree and acknowledge that (i) the Underwriter and the Company would be
irreparably injured in the event of a breach by the Sponsor or such Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 7(a), 7(b) and 9, as applicable, of this Letter
Agreement, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to seek injunctive relief, in addition to any other remedy that such
party may have in law or in equity, in the event of such breach. 

  
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 7. (a) Subject to the exceptions set forth in this Letter Agreement, the Sponsor and each
Insider agree that it, he or she shall not Transfer (as defined below) any Founder Shares (or shares of Class A Common Stock issuable upon conversion thereof) until the earlier of (A) one (1) year after the date of the completion of the
Company’s initial Business Combination and (B) subsequent to the completion of the Business Combination, (x) the date on which the last reported sale price of the Class A Common Stock equals or exceeds $12.00 per share (as
adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any twenty (20) trading days within any thirty (30)-trading day period commencing at least
one-hundred-fifty (150) days after the date of the completion of the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, stock exchange,
reorganization or other similar transaction that results in all of the Public Stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property (the “Founder Shares Lock-Up Period”). 
 (b) Subject to the exceptions set forth in this Letter
Agreement, the Sponsor and each Insider agree that it, he or she shall not Transfer any Private Placement Warrants or Working Capital Warrants (as defined below) (or shares of Class A Common Stock issued or issuable upon the conversion or
exercise of the Private Placement Warrants or Working Capital Warrants, as the case may be) until thirty (30) days after the date of the completion of the Company’s initial Business Combination (the “Private Placement Warrants Lock-Up Period” and, together with the Founder Shares Lock-Up Period, the “Lock-Up Periods”). 

(c) Notwithstanding the provisions set forth in Sections 3, 7(a) and (b), Transfers of the Founder Shares,
Private Placement Warrants, Working Capital Warrants and shares of Class A Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants, the Working Capital Warrants or the Founder Shares and that are held
by the Sponsor or any Insider or any of their respective permitted transferees (that have complied with this Section 7(c)) are permitted (a) to the Company’s officers, directors or advisors, any Affiliates or
family members of any of the Company’s officers, directors or advisors, any direct or indirect members, partners or stockholders of the Sponsor or any employee or partner of any such member, partner or stockholder, or any Affiliates of the
Sponsor, (b) in the case of an individual, transfers by gift to a member of the individual’s immediate family, to a trust, the beneficiaries of which are one or more of the individual’s immediate family or an Affiliate of such person,
or to a charitable organization, (c) in the case of an individual, transfers by virtue of laws of descent and distribution upon death of such individual, (d) in the case of an individual, transfers pursuant to a qualified domestic
relations order, (e) transfers by virtue of law or the Sponsor’s operating agreement upon dissolution of a person other than an individual, (f) transfers by private transfers or sales and transfers made in connection with the
consummation of the Company’s initial Business Combination at prices no greater than the price at which the securities were originally purchased, (g) to an entity that is an Affiliate of such holder, (h) transfers in the event of the
Company’s liquidation prior to the completion of the Company’s initial Business Combination, (i) to the Company for no value for cancellation in connection with the consummation of the Company’s initial Business Combination,
(j) in the event of the Company’s completion of a liquidation, merger, stock exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares of
Class A Common 

  
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Stock for cash, securities or other property subsequent to the completion of the Company’s initial Business Combination, and (k) to a nominee or custodian of a person or entity to whom
a disposition or transfer would be permissible under clauses (a) through (h) above; provided, however, that, in the case of clauses (a) through (f) and (j), these transferees must enter into a written agreement with the
Company agreeing to be bound by the transfer restrictions in this Letter Agreement. “Affiliate” means, with respect to any holder any other person who, directly or indirectly (including through one or more intermediaries),
controls, is controlled by, or is under common control with, such person. For purposes of this definition, “control,” when used with respect to any specified person, shall mean the power, direct or indirect, to direct or
cause the direction of the management and policies of such person, whether through ownership of voting securities or partnership or other ownership interests, by contract or otherwise, and the terms “controlling” and
“controlled” shall have correlative meanings. 
 8. The Sponsor and each Insider represent and warrant with respect
to such Insider that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider
represents and warrants with respect to such Insider that such Insider’s biographical information furnished to the Company, if any (including any such information included in the Prospectus), is true and accurate in all respects and does not
omit any material information with respect to such Insider’s background. The Sponsor and each Insider’s questionnaires furnished to the Company, if any, are true and accurate in all respects. The Sponsor and each Insider represent and
warrant with respect to such Insider that it, he or she (a) is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or
order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction, (b) has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any
financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and (c) is not currently a defendant in any such criminal proceeding. 

9. Except as disclosed in, or as expressly contemplated by, the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the
Sponsor or any Insider, nor any director, officer or advisor of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in
connection with any services rendered in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made from the
proceeds held in the Trust Account prior to the completion of the Company’s initial Business Combination: (i) repayment of a loan and advances of up to $300,000 made to the Company by the Sponsor to cover expenses related to the
organization of the Company and the Public Offering; (ii) reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating and
consummating an initial Business Combination; and (iii) repayment of loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor, an affiliate of the Sponsor or certain of the Company’s
officers and directors to finance transaction costs in connection with the Company’s initial Business Combination; provided, however, that, if the Company does not consummate an initial Business Combination, a portion of the
working capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $2,000,000 of such loans may be convertible into warrants (the
“Working Capital Warrants”) of the post Business Combination entity at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants, including as to the exercise
price, exercisability and exercise period. 

  
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 10. The Sponsor and each Insider has full right and power, without violating any agreement
by which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter
Agreement and, as applicable, to serve as an officer, a director on the board of directors and/or an advisor on the board of advisors of the Company and hereby consents to being named in the Prospectus as an officer, a director and/or an advisor of
the Company. 
 11. As used herein, (i) “Business Combination” shall mean a merger, consolidation, capital stock
exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses or entities; (ii) “Capital Stock” shall mean, collectively, the Class A Common
Stock and the Founder Shares; (iii) “Founder Shares” shall mean the 5,750,000 shares of Class B common stock, par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public
Offering; (iv) “Private Placement Warrants” shall mean the warrants to purchase up to an aggregate of 11,750,000 shares of Class A Common Stock (or up to 13,100,000 shares of Class A Common Stock, depending on the
extent to which the underwriter’s option to purchase additional units is exercised, to add to the proceeds from this offering to be held in the trust account) of the Company that the Sponsor has agreed to purchase for an aggregate purchase
price of $11,750,000, or $1.00 per Private Placement Warrant, in a private placement transaction that shall occur simultaneously with the consummation of the Public Offering; (v) “Public Stockholders” shall mean the holders
of securities issued in the Public Offering; (vi) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited;
and (vii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate or pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of,
directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of the Exchange Act with respect to, any security, (b) entry into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or
(c) public announcement of any intention to effect any transaction specified in clause (a) or (b) above. 
 12. This Letter
Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by (1) each Insider that is the subject of any such change, amendment modification or waiver and (2) the Sponsor. 

  
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 13. Except as otherwise provided in this Letter Agreement, no party hereto may assign either
this Letter Agreement or any of its rights, interests or obligations hereunder without the prior written consent of the other parties. Any purported assignment in violation of this Section 13 shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees. 

14. Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other than the parties hereto any
right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be
for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

15. This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 16. This
Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in
lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be
valid and enforceable. 
 17. For ease of administration, this Letter Agreement is being executed so as to enable each Insider identified on
the signature pages to enter into this Letter Agreement, severally, but not jointly. The Company and each Insider agree with each other that (i) this Letter Agreement shall be treated as if it were a separate agreement with respect to each
Insider listed on the signature page, as if each Insider had executed a separate registration rights agreement naming only itself as an Insider, and (ii) no Insider listed on the signature page shall have any liability under this Letter
Agreement for the obligations of any other Insider so listed. The decision of each Insider to enter into this Letter Agreement has been made by such Insider independently of any other Insider. Nothing contained herein, and no action taken by an
Insider pursuant hereto or thereto, shall be deemed to constitute any Insider acting with any other Insider or Insiders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that any Insider and any
other Insider or Insiders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Letter Agreement. 

18. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way
to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any
objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 
 19. Any notice, consent or
request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile or other electronic transmission. 

  
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 20. Each party hereto shall not be liable for any breaches or misrepresentations contained
in this Letter Agreement by any other party to this Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable or responsible for the obligations of another party, including,
without limitation, indemnification obligations and notice obligations. 
 21. This Letter Agreement shall terminate on the earlier of
(i) the expiration of the Lock-Up Periods and (ii) the liquidation of the Company; provided, however, that this Letter Agreement shall terminate earlier in the event that the Public
Offering is not consummated and closed by the Completion Window; provided, further, that Section 4 shall survive such liquidation. 

[Signature Pages Follow] 

  
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	Sincerely,
	KNIGHTSWAN SPONSOR LLC
	By:	 	 /s/ Brandee Daly

		 	Name: Brandee Daly
		 	Title: Chief Executive Officer

 [Signature Page to Letter Agreement—KnightSwan Acquisition Corporation] 

 
			
	By:	 	 /s/ S. Leslie Ireland

		 	Name: S. Leslie Ireland
		
	By:	 	 /s/ Merlynn Carson

		 	Name: Merlynn Carson
		
	By:	 	 /s/ Teresa Carlson

		 	Name: Teresa Carlson
		
	By:	 	 /s/ Brandee Daly

		 	Name: Brandee Daly
		
	By:	 	 /s/ Matthew McElroy

		 	Name: Matthew McElroy
		
	By:	 	 /s/ Dawn Meyerriecks

		 	Name: Dawn Meyerriecks

 [Signature Page to Letter Agreement—KnightSwan Acquisition Corporation] 

 
			
		
	By:	 	 /s/ Laura Price

		 	Name: Laura Price
		
	By:	 	 /s/ Anne K. Altman

		 	Name: Anne K. Altman

 [Signature Page to Letter Agreement—KnightSwan Acquisition Corporation] 

			
	Acknowledged and Agreed:
	KNIGHTSWAN ACQUISITION CORPORATION
	By:	 	 /s/ Matthew McElroy

		 	Name: Matthew McElroy
		 	Title: Chief Financial Officer

 [Signature Page to Letter Agreement—KnightSwan Acquisition Corporation]EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

INVESTMENT MANAGEMENT TRUST AGREEMENT 

THIS INVESTMENT MANAGEMENT TRUST AGREEMENT is made effective as of January 20, 2022 (as amended, supplemented or otherwise modified from
time to time, this “Agreement”), by and between KnightSwan Acquisition Corporation, a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York
limited purpose trust company (the “Trustee”). 
 WHEREAS, the Company’s registration statement on Form S-1, File No. 333-261856 (the “Registration Statement”) and prospectus (the “Prospectus”) for the initial public offering
of the Company’s units (the “Units”), each of which consists of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), and one-half of one redeemable Public Warrant (as defined in the Underwriting Agreement (as defined below)), each whole Public Warrant entitling the holder thereof to purchase one share of Common Stock (such initial
public offering, the “Offering”), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission; 

WHEREAS, the Company has entered into that certain underwriting agreement, dated the date hereof (as amended, supplemented or otherwise
modified from time to time, the “Underwriting Agreement”), with RBC Capital Markets LLC, as the underwriter (the “Underwriter”); 

WHEREAS, as described in the Registration Statement, an aggregate of $205,000,000 from the gross proceeds of the Offering and sale of the
Private Placement Warrants (as defined in the Underwriting Agreement) (or $235,750,000 if the Underwriter’s over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a segregated trust account
located at all times in the United States (the “Trust Account”) for the benefit of the Company and the holders of the Common Stock included in the Units issued in the Offering as hereinafter provided (the amount to be
delivered to the Trustee on the date hereof and any additional amount subsequently delivered to the Trustee for deposit into the Trust Account (and any interest earned on such amounts) is referred to as the “Property,” the
stockholders for whose benefit the Trustee shall hold the Property are referred to as the “Public Stockholders,” and the Public Stockholders and the Company are referred to together as the
“Beneficiaries”); 
 WHEREAS, pursuant to the Underwriting Agreement, a portion of the Property equal to $7,000,000,
or $8,050,000 if the Underwriter’s over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriter upon, and concurrently with, the
consummation of the Business Combination (as defined below) (the “Deferred Discount”); and 
 WHEREAS, the Company
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property. 

 NOW THEREFORE, IT IS AGREED: 

1. Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to: 

(a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
Trustee in the United States at JPMorgan Chase Bank, N.A. (or at another U.S.-chartered commercial bank with consolidated assets of $100.0 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory
to the Company; 
 (b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein; 

(c) In a timely manner, upon the written instruction of the Company, invest and reinvest the Property in solely U.S. government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of one-hundred-eighty-five (185) days or less, or in money market funds meeting the
conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company, and the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder; and while account funds are invested or univested the Trustee may earn bank credits or other consideration; 
 (d)
Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,” as such term is used herein; 

(e) Promptly notify the Company and the Underwriter of all communications received by the Trustee with respect to the Property requiring action
by the Company; 
 (f) Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in
connection with the Company’s preparation of the tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of the audit of the Company’s financial statements by the Company’s
independent registered public accounting firm; 
 (g) Participate in any plan or proceeding for protecting or enforcing any right or interest
arising from the Property if, as and when instructed by the Company to do so; 
 (h) Render to the Company monthly written statements of the
activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of the Trust Account; 

  
 2 

 (i) Commence liquidation of the Trust Account only after and promptly after (x) receipt
of, and only in accordance with, the terms of a letter from the Company (the “Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or
Exhibit B, as applicable, signed on behalf of the Company by the Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or chairman of the board of directors of the Company (the
“Board”) or another authorized officer of the Company and, in the case of Exhibit A, acknowledged and agreed to by the Underwriter and complete the liquidation of the Trust Account and distribute the
Property in the Trust Account, including interest earned on the funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution
expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is the later of (i) eighteen (18) months after the closing of the Offering, (ii) such later date as
provided by Section 9.1(c) of the Company’s amended and restated certificate of incorporation (as further amended, supplemented or otherwise modified from time to time, the “Certificate of Incorporation”) and
(iii) such later date as may be approved by the Company’s stockholders in accordance with the Certificate of Incorporation, if the Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account
shall be liquidated in accordance with the procedures set forth in the Termination Letter attached hereto as Exhibit B and the Property in the Trust Account, including interest earned on the funds held in the Trust Account
(net of amounts withdrawn in accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date; 

(j) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to cover any
tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company, and the Company shall forward such amount to the relevant taxing
authority; provided, however, that, to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in
writing to make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; provided, further, that, if the tax to be paid is a franchise tax, the written request by
the Company to make such distribution shall be accompanied by a copy of the franchise tax bill from the relevant taxing authority for the Company. The written request of the Company referenced above shall constitute presumptive evidence that the
Company is entitled to such funds, and the Trustee shall have no responsibility to look beyond such request; 
 (k) [Reserved]; 

(l) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
Exhibit D (a “Stockholder Redemption Withdrawal Instruction”), the Trustee shall distribute to the Public Stockholders on behalf of the Company the amount requested by the Company to be used to
redeem shares of the Common Stock from the Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Certificate of Incorporation that would affect the substance or timing of the Company’s
obligation to redeem one-hundred percent (100%) of its public shares of the Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Certificate
of Incorporation or with respect to any other material provision relating to stockholders’ rights or pre-initial Business Combination activity. The written request of the Company referenced above shall
constitute presumptive evidence that the Company is entitled to distribute such funds, and the Trustee shall have no responsibility to look beyond such request; and 

  
 3 

 (m) Not make any withdrawals or distributions from the Trust Account other than pursuant to
Section 1(i), (j) or (l) above. 
 2. Agreements and Covenants of the Company. The
Company hereby agrees and covenants to: 
 (a) Give all instructions to the Trustee hereunder in writing, signed on behalf of the Company by
the Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or chairman of the Board. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(l), the Trustee
shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written
instructions; provided, however, that the Company shall promptly confirm such instructions in writing; 
 (b) Subject to
Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented out-of-pocket expenses,
including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any
claim, or in connection with any claim or demand, which arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the
Trustee’s or its representatives’ gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee
intends to seek indemnification under this Section 2(b), it shall notify the Company in writing of such claim (the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the
defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel; provided, further, that the Company may conduct and manage the
defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company. The Company may
participate in any such action with its own counsel; 
 (c) Pay the Trustee the fees set forth on Schedule A,
including an initial set-up fee, annual administration fee and transaction processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the
Property shall not be used to pay such fees unless and until the property is distributed to the Company pursuant to Sections 1(i). The Company shall pay the Trustee the initial set-up
fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c),
Schedule A and as may be provided in Section 2(b); 

  
 4 

 (d) In connection with any vote of the Company’s stockholders regarding a merger,
consolidation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination of the Company with one or more businesses or entities (the “Business Combination”), provide to the
Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting verifying the vote of such stockholders regarding such Business Combination; 

(e) Provide the Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
to any proposed withdrawal from the Trust Account promptly after it issues the same; 
 (f) Unless otherwise agreed between the Company and
the Underwriter, ensure that any Instruction Letter delivered in connection with a Termination Letter substantially in the form attached hereto as Exhibit A expressly provides that the Deferred Discount is paid directly to
the account(s) as directed by the Underwriter prior to any transfer of the funds held in the Trust Account to the Company or any other person; 

(g) Instruct the Trustee to make only those distributions that are permitted under this Agreement and refrain from instructing the Trustee to
make any distributions that are not permitted under this Agreement; and 
 (h) Within four (4) business days after the Underwriter
exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $7,000,000, or
$8,050,000 if the Underwriter’s overallotment option is exercised in full. 
 3. Limitations of Liability. The Trustee shall have
no responsibility or liability to: 
 (a) Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any
agreement or document other than this Agreement and that which is expressly set forth herein; 
 (b) Take any action with respect to the
Property, other than as directed in Section 1, and the Trustee shall have no liability to any third party except for liability arising out of the Trustee’s or its representatives’ gross negligence, fraud or
willful misconduct; 
 (c) Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or
defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient
to pay any reasonably incurred expenses incident thereto; 
 (d) Refund any depreciation in principal of any Property; 

(e) Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation or unless the Company shall have delivered a written revocation of such authority to the Trustee; 

  
 5 

 (f) The other parties hereto or to anyone else for any action taken or omitted by it, or any
action suffered by it to be taken or omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s or its representatives’ gross negligence, fraud or willful misconduct. The Trustee may rely conclusively and
shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other paper or
document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to
be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced
by a written instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto; 

(g) Verify the accuracy of the information contained in the Registration Statement; 

(h) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated
by the Registration Statement; 
 (i) File information returns with respect to the Trust Account with any local, state or federal taxing
authority or provide periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property; 

(j) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, without limitation, franchise and income tax obligations, except pursuant to Section 1(j);
or 
 (k) Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to
Sections 1(i), 1(j) and 1(l). 
 4. Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (a “Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust
Account that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 2(b) or 2(c), the Trustee shall pursue such
Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account. 

  
 6 

 5. Termination and Replacement of Trustee. This Agreement shall terminate as follows:

 (a) If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its
reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including, without limitation, the transfer of copies of the reports and statements relating to the Trust Account
and any other reasonable transfer requests that the Company may make, whereupon this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety (90) days of
receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York
and upon such deposit, the Trustee shall be immune from any liability whatsoever. 
 (b) At such time that the Trustee has completed the
liquidation of the Trust Account and its obligations in accordance with the provisions of Section 1(i) and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Section 2(b). 
 (c) If the Offering is not consummated within ten (10) business days
of the date of this Agreement, in which case any funds received by the Trustee from the Company or KnightSwan Sponsor LLC, a Delaware limited liability company, as applicable, shall be returned promptly following the receipt by the Trustee of
written instructions from the Company. 
 6. Miscellaneous. 

(a) The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to
believe unauthorized persons may have obtained access to such confidential information or of any change in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including,
account names, account numbers and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s or its representatives’ gross negligence,
fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or out-of-pocket expense resulting from any error in the information or transmission
of the funds. 
 (b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed in several original or facsimile counterparts, each one of which
shall constitute an original, and together shall constitute but one instrument. 

  
 7 

 (c) This Agreement contains the entire agreement and understanding of the parties hereto
with respect to the subject matter hereof. This Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto. 

(d) Sections 1(i) and 1(j) may only be changed, amended or modified pursuant to
Section 6(c) with the Consent of the Stockholders, it being the specific intention of the parties hereto that each of the Company’s stockholders is, and shall be, a third party beneficiary of this
Section 6(d) with the same right and power to enforce this Section 6(d) as the other parties hereto. For purposes of this Section 6(d), the “Consent of the
Stockholders” means receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that either (i) the Company’s stockholders of record as of a record date established in
accordance with Section 213(a) of the Delaware General Corporation Law, as amended (the “DGCL”) (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and
Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment or modification, or (ii) the Company’s stockholders of record as of the record date who
hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have delivered to such entity a signed writing
approving such change, amendment or modification. No such amendment shall affect any Public Stockholder who has otherwise indicated his, her or its election to redeem his, her or its shares of Common Stock in connection with a stockholder vote
sought to amend the Certificate of Incorporation. Except for any liability arising out of the Trustee’s or its representatives’ gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the
inspector or elections referenced above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon. 

(e) The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, County of
New York and State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY. 

(f) Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and
shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or by facsimile or email transmission: 

if to the Trustee, to: 

Continental Stock Transfer & Trust Company 

1 State Street 
 30th Floor 

New York, New York 10004 

Attention: Fran Wolf and Celeste Gonzalez 

E-mail: franwolf@continentalstock.com 

   cgonzalez@continentalstock.com 

  
 8 

 if to the Company, to: 

KnightSwan Acquisition Corporation 

99 Wall Street, Suite 460 
 New
York, New York 10005 
 Attention: Brandee Daly 

in each case, with copies to: 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, New York 10019 

Attention: Raphael R. Russo 
 E-mail: rrusso@paulweiss.com 
 and 

RBC Capital Markets, LLC 

Brookfield Place 
 200 Vesey
Street, 8th Floor 
 New York, NY 10281 

Attention: Equity Syndicate 
 E-mail: equityprospectus@rbccm.com 
 in each case, with copies to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

525 University Avenue, Suite 1400 

Palo Alto, California 94301 

Attention: Gregg A. Noel, Esq. and Michael J. Schwartz, Esq. 

(g) Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of
set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. 
 (h)
Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriter is a third party beneficiary of this Agreement. 

(i) The Trustee shall perform its duties under this Agreement in compliance with all applicable laws, including those relating to privacy,
data protection and information security, shall keep confidential all information (including personally identifiable information and personal data) relating to this Agreement and, except as required by applicable law, shall not use such information
for any purpose other than the performance of the Trustee’s obligations under this Agreement. 

  
 9 

 (j) Except as specified herein, no party to this Agreement may assign its rights or delegate
its obligations hereunder to any other person or entity without the written consent of the other party. 
 (k) This Agreement may be executed
in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement. Only one counterpart signed by the party against whom enforceability is sought needs
to be produced to evidence the existence of this Agreement. 
 [Signature Page Follows] 

  
 10 

 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust
Agreement as of the date first written above. 
  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
		
	By:	 	 /s/ Francis Wolf

		 	Name: Francis Wolf
		 	Title: Vice President
	
	KNIGHTSWAN ACQUISITION CORPORATION
		
	By:	 	 /s/ Matthew McElroy

		 	Name: Matthew McElroy
		 	Title: Chief Financial Officer

  
 [Signature Page to
Investment Management Trust Agreement—KnightSwan Acquisition Corporation] 

 SCHEDULE A 

TRUSTEE’S FEES 

 
  

							
	 Fee Item
	  	 Time and Method of Payment
	  	Amount	 
	 Initial set-up fee
	  	Initial closing of the Offering by wire transfer	  	$	3,500.00	 
	 Annual administration fee
	  	First year, initial closing of the Offering by wire transfer; thereafter on the anniversary of the closing date of the Offering by wire transfer or check	  	$	10,000.00	 
	 Transaction processing fee for disbursements to the Company pursuant to Sections 1(i), (j) and
(l)
	  	Billed by the Trustee to the Company pursuant to Section 1	  	$	250.00	 
	 Paying agent services as required pursuant to Sections 1(i) and (l)
	  	Billed to the Company upon delivery of service pursuant to Sections 1(i) and (l)	  	 	Prevailing rates	 

  

  
 Sch. A-1 

 EXHIBIT A 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
  

	 	Re:	 Trust Account—Termination Letter 

Dear Mr. Wolf and Ms. Gonzalez: 

Pursuant to Section 1(i) of the Investment Management Trust Agreement, dated as of January 20, 2022 (as amended, supplemented or
otherwise modified from time to time, the “Trust Agreement”), by and between KnightSwan Acquisition Corporation (the “Company”) and Continental Stock Transfer & Trust Company (the
“Trustee”), this is to advise you that the Company has entered into an agreement with [Target] (the “Target Business”) to consummate a business combination with the Target Business (the
“Business Combination”) on or about [Date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the Business
Combination (the “Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

In accordance with the terms of the Trust Agreement, we hereby authorize you to commence the liquidation of all of the assets in the Trust
Account, and to transfer the proceeds into the trust operating account at JPMorgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or
accounts that the Company shall direct on the Consummation Date (including as directed to it by the Underwriter) (with respect to the Deferred Discount). It is acknowledged and agreed that, while the funds are on deposit in the trust operating
account at JPMorgan Chase Bank, N.A., awaiting distribution, the Company will not earn any interest or dividends. 
 On the Consummation
Date, (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the
Company (the “Notification”) and (ii) the Company shall deliver to you (a) [an affidavit][a certificate] of the Chief Executive Officer of the Company, which verifies that the Business Combination has been approved
by a vote of the Company’s stockholders, if a stockholder vote is held, and (b) a joint written instruction signed by the Company and the Underwriter with respect to the transfer of the funds held in the Trust Account, including payment of
amounts owed to public stockholders who have properly exercised their redemptions rights and payment of amounts of the Deferred Discount to the underwriter from the Trust Account directly to the account or accounts directed by the Underwriter (the
“Instruction Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and the 

  
 Ex. A-1 

 
Instruction Letter in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without
penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the
funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated. 

In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not
notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c)
of the Trust Agreement on the business day immediately following the Consummation Date as set forth in such written instructions as soon thereafter as possible. 

 

			
	Very truly yours,
	
	KNIGHTSWAN ACQUISITION CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged:
	
	RBC CAPITAL MARKETS, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. A-2 

 EXHIBIT B 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
  

	 	Re:	 Trust Account—Termination Letter 

Dear Mr. Wolf and Ms. Gonzalez: 

Pursuant to Section 1(i) of the Investment Management Trust Agreement, dated as of January 20, 2022 (as amended, supplemented or
otherwise modified from time to time, the “Trust Agreement”), by and between KnightSwan Acquisition Corporation (the “Company”) and Continental Stock Transfer & Trust Company, this is to
advise you that the Company has been unable to effect a Business Combination with a target business within the time frame specified in the Certificate of Incorporation, as described in the Company’s Prospectus relating to the Offering.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 
 In accordance with the terms of
the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public
Stockholders. The Company has selected [insert completion deadline] as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the liquidation proceeds. You agree to be the
paying agent of record and, in your separate capacity as paying agent, agree to distribute said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Certificate of Incorporation. Upon the distribution
of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in
Section 1(i) of the Trust Agreement. 
  

			
	Very truly yours,
	
	KNIGHTSWAN ACQUISITION CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

	cc:	 RBC Capital Markets, LLC 

  
 Ex. B-1 

 EXHIBIT C 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
  

	 	Re:	 Trust Account—Tax Payment Withdrawal Instruction 

Dear Mr. Wolf and Ms. Gonzalez: 

Pursuant to Section 1(j) of the Investment Management Trust Agreement, dated as of January 20, 2022 (as amended, supplemented or
otherwise modified from time to time, the “Trust Agreement”), by and between KnightSwan Acquisition Corporation (the “Company”) and Continental Stock Transfer & Trust Company, the Company
hereby requests that you deliver to the Company $___________ of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

The Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the
terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at: 

[WIRE INSTRUCTION INFORMATION] 
  

			
	Very truly yours,
	
	KNIGHTSWAN ACQUISITION CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

	cc:	 RBC Capital Markets, LLC 

  
 Ex. C-1 

 EXHIBIT D 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
  

	 	Re:	 Trust Account—Stockholder Redemption Withdrawal Instruction 

Dear Mr. Wolf and Ms. Gonzalez: 

Pursuant to Section 1(l) of the Investment Management Trust Agreement, dated as of January 20, 2022 (as amended, supplemented or
otherwise modified from time to time, the “Trust Agreement”), by and between KnightSwan Acquisition Corporation (the “Company”) and Continental Stock Transfer & Trust Company, the Company
hereby requests that you deliver to the redeeming Public Stockholders of the Company $__________ of the principal and interest income earned on the Property as of the date hereof into a segregated account held by you on behalf of the Beneficiaries
for distribution to the Public Stockholders who have requested redemption of their shares. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

The Company needs such funds to pay the Public Stockholders who have properly elected to have their shares of Common Stock redeemed by the
Company in connection with a stockholder vote to approve an amendment to the Certificate of Incorporation. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter. 

 

			
	KNIGHTSWAN ACQUISITION CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

	cc:	 RBC Capital Markets, LLC 

  
 Ex. D-1

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