Document:

EX-4.2

 EXHIBIT 4.2 

DESCRIPTION OF SECURITIES 

The following summary of the material terms of the securities of Frazier Lifesciences Acquisition Corporation (“we,” “us,”
“our” or “the company”) is not intended to be a complete summary of the rights and preferences of such securities and is subject to and qualified by reference to our amended and restated memorandum and articles of association
incorporated by reference as an exhibit to the company’s Annual Report on Form 10-K for the period ended December 31, 2020, and applicable Cayman Islands law. We urge you to read our
amended and restated memorandum and articles of association in their entirety for a complete description of the rights and preferences of our securities. 

Certain Terms 
 Unless otherwise stated in this Exhibit or
the context otherwise requires, references to: 
  

	 	•	 	 “Companies Law” are to the Companies Act (2021 Revision) of the Cayman Islands as the same may be
amended from time to time; 

  

	 	•	 	 “founder shares” are to our Class B ordinary shares initially issued to our sponsor, and any such
shares transferred to our directors, in a private placement prior to the Initial Public Offering and the Class A ordinary shares that will be issued upon the automatic conversion of the Class B ordinary shares at the time of our initial
business combination (for the avoidance of doubt, such Class A ordinary shares will not be “public shares”); 

  

	 	•	 	 “Initial Public Offering” are to the company’s offering that closed on December 11, 2020;

  

	 	•	 	 “initial shareholders” are to our sponsor and each other holder of founder shares upon the consummation
of our Initial Public Offering; 

  

	 	•	 	 “ordinary shares” are to our Class A ordinary shares and our Class B ordinary shares;

  

	 	•	 	 “our founding team” are to our executive officers and directors; 

 

	 	•	 	 “private placement units” are to the units to be issued to our sponsor in a private placement
simultaneously with the closing of the Initial Public Offering, which private placement units are identical to the units sold to the public, subject to certain limited exceptions as described in this Annual Report on Form 10-K; 

  

	 	•	 	 “private placement warrants” are to the warrants sold as part of the private placement units and upon
conversion of working capital loans, if any; 

  

	 	•	 	 “public shares” are to our Class A ordinary shares sold as part of the units in our Initial Public
Offering (whether they were purchased in our Initial Public Offering or thereafter in the open market); 

  

	 	•	 	 “public shareholders” are to the holders of our public shares, including our sponsor and founding team
to the extent our sponsor and/or members of our management team purchase public shares, provided that our sponsor’s and each member of our management team’s status as a “public shareholder” will only exist with respect to such
public shares; and 

  

	 	•	 	 “sponsor” are to Frazier Lifesciences Sponsor LLC, a Cayman Islands limited liability company.

 General 
 We are a
Cayman Islands exempted company and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Law and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles
of association, we are authorized to issue 479,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares, as well as 1,000,000 preference shares, $0.0001 par value each. The following description summarizes certain terms of
our shares as set out more particularly in our amended and restated memorandum and articles of association. Because it is only a summary, it may not contain all the information that is important to you. 

 Units 

Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each
whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in this Annual Report on Form 10-K. Pursuant to the
warrant agreement, a warrant holder may exercise its warrants only for a whole number of the company’s Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder. The units will
automatically separate into their component parts and will not be traded after completion of our initial business combination. 
 Private Placement Units

 The private placement units (including the private placement shares, the private placement warrants and Class A ordinary
shares issuable upon exercise of such warrants) will not be transferable or salable until 30 days after the completion of our initial business combination (except, among other limited exceptions as described under “Transfers of Founder
Shares and Private Placement Units,” in this Annual Report on Form 10-K, to our officers and directors and other persons or entities affiliated with our sponsor) and the private placement warrants
included therein will not be redeemable by us (except as described below under “Redemption of warrants for cash when the price per Class A ordinary share equals or exceeds $10.00”) so long as they are held by our
sponsor or its permitted transferees. Holders of our private placement units are entitled to certain registration rights. If we do not consummate an initial business combination within 24 months from the closing of the Initial Public
Offering, the proceeds from the sale of the private placement units held in the trust account will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and the private placement units (and the
underlying securities) will expire worthless. Further, if we seek shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon,
voted at a shareholder meeting are voted in favor of the business combination. In such case, our sponsor and each member of our management team have agreed to vote their founder shares, private placement shares and any public shares purchased during
or after the Initial Public Offering in favor of our initial business combination. Otherwise, the private placement units are identical to the units sold in the Initial Public Offering. 

Our sponsor and our management team have agreed not to transfer, assign or sell any of their private placement units, private placement
shares, private placement warrants and any Class A ordinary shares issued upon conversion or exercise thereof until 30 days after the completion of our initial business combination, except, among other limited exceptions as described under
the section of this Annual Report on Form 10-K entitled “Transfers of Founder Shares and Private Placement Units,” transfers made to our officers and directors and other persons or entities
affiliated with our sponsor. 
 In order to fund working capital deficiencies or finance transaction costs in connection with an intended
initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible into private
placement units of the post-business combination company at a price of $10.00 per unit at the option of the lender. 
 Ordinary Shares 

Upon the closing of the Initial Public Offering, 17,751,000 of our ordinary shares were outstanding, including: 

 

	 	•	 	 13,800,000 Class A ordinary shares underlying the units issued as part of the Initial Public Offering;

  

	 	•	 	 501,000 Class A ordinary shares underlying the private placement units; and 

 

	 	•	 	 3,450,000 Class B ordinary shares held by our initial shareholders. 

Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as
described below, holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of our shareholders except as required by law. Unless specified in our
amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Law or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted 

  
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is required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least
two-thirds of our ordinary shares that are voted, and pursuant to our amended and restated memorandum and articles of association; such actions include amending our amended and restated memorandum and articles
of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into three classes, each of which will generally serve for terms of three years with only one class of directors being
appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders of more than 50% of the shares voted for the appointment of directors can appoint all of the directors. Our
shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. 

Prior to our initial business combination, only holders of our founder shares will have the right to vote on the appointment of directors.
Holders of our public shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of
the board of directors for any reason. The provisions of our amended and restated memorandum and articles of association governing the appointment or removal of directors prior to our initial business combination may only be amended by a special
resolution passed by holders representing at least two-thirds of our issued and outstanding Class B ordinary shares. 

Because our amended and restated memorandum and articles of association authorizes the issuance of up to 479,000,000 Class A ordinary
shares, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A ordinary shares which we are authorized to issue at the same time as our
shareholders vote on the business combination to the extent we seek shareholder approval in connection with our initial business combination. 

Our board of directors is divided into three classes with only one class of directors being appointed in each year and each class (except for
those directors appointed prior to our first annual general meeting) serving a three-year term. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal
year end following our listing on Nasdaq. As an exempted company, there is no requirement under the Companies Law for us to hold annual or extraordinary general meetings to appoint directors. We may not hold an annual or extraordinary general
meeting to appoint new directors prior to the consummation of our initial business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a
majority of our founder shares. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. 

We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of our
initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations
described herein. The amount in the trust account is initially anticipated to be $10.00 per public share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
commissions we will pay to the underwriters. The redemption rights may include the requirement that a beneficial owner must identify itself in order to valid redeem its shares. Our sponsor and our founding team have entered into an agreement with
us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares, private placement shares and any public shares purchased during or after the Initial Public Offering in connection with (i) the
completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to
provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within
24 months from the Initial Public Offering, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares or pre-initial business combination
activity. Unlike many blank check companies that hold shareholder votes and conduct proxy 

  
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solicitations in conjunction with their initial business combinations and provide for related redemptions of public shares for cash upon completion of such initial business combinations even when
a vote is not required by law, if a shareholder vote is not required by applicable law or stock exchange rule and we do not decide to hold a shareholder vote for business or other reasons, we will, pursuant to our amended and restated memorandum and
articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated memorandum and articles of
association will require these tender offer documents to contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a
shareholder approval of the transaction is required by applicable law or stock exchange rule, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction
with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if we receive approval pursuant to an ordinary resolution under
Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. However, the participation of our sponsor, officers, directors, advisors or their affiliates in
privately-negotiated transactions (as described in this Annual Report on Form 10-K), if any, could result in the approval of our initial business combination even if a majority of our public shareholders vote,
or indicate their intention to vote, against such initial business combination unless restricted by applicable Nasdaq rules. For purposes of seeking approval of the majority of our issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. Our amended and restated memorandum and articles of association will require that at least five days’
notice will be given of any general meeting. 
 If we seek shareholder approval of our initial business combination and we do not conduct
redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association provides that a public shareholder, together with any affiliate of such shareholder
or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to Excess Shares, without our prior
consent. However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our shareholders’ inability to redeem the Excess Shares will
reduce their influence over our ability to complete our initial business combination, and such shareholders could suffer a material loss in their investment if they sell such Excess Shares on the open market. 

Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial
business combination. And, as a result, such shareholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

If we seek shareholder approval, we will complete our initial business combination only if we receive approval pursuant to an ordinary
resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In such case, our sponsor and each member of our founding team have agreed to vote
their founder shares, private placement shares and public shares purchased during or after the Initial Public Offering in favor of our initial business combination. As a result, in addition to our initial shareholders’ founder shares and
private placement shares, we would need 3,924,501, or 22.1%, of the 13,800,000 public shares sold in the Initial Public Offering to be voted in favor of an initial business combination in order to have our initial business combination approved
(assuming all issued and outstanding shares are voted and the over-allotment option is not exercised). The other members of our founding team are subject to the same arrangements with respect to any public shares acquired by them in or after the
Initial Public Offering. Additionally, each public shareholder may appoint to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all. 

Pursuant to our amended and restated memorandum and articles of association, if we do not consummate an initial business combination within
24 months from the closing of the Initial Public Offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public
shares, at a per-share price, payable in cash, equal to the aggregate 

  
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amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (less up to
$100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further
liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case of clause
(ii) and (iii), to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Our sponsor and each member of our founding team have entered into an agreement with us, pursuant to
which they have agreed to waive their rights to liquidating distributions from the trust account with respect to any founder shares or private placement shares they hold if we fail to consummate an initial business combination within 24 months
from the closing of the Initial Public Offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within
24 months from the closing of the Initial Public Offering). 
 In the event of a liquidation, dissolution or winding up of the company
after a business combination, our shareholders are entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over
the ordinary shares. Our shareholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their
public shares for cash at a per share price equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any,
divided by the number of the then-outstanding public shares, upon the completion of our initial business combination, subject to the limitations described herein. 

Founder Shares 
 The founder shares are
designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units sold in the Initial Public Offering, and holders of founder shares have the same shareholder
rights as public shareholders, except that: 
  

	 	•	 	 prior to our initial business combination, only holders of our founder shares will have the right to vote on the
appointment of directors; 

  

	 	•	 	 the founder shares are subject to certain transfer restrictions, as described in more detail below;

  

	 	•	 	 our sponsor and our founding team have entered into an agreement with us, pursuant to which they have agreed to
(i) waive their redemption rights with respect to any founder shares, private placement shares and public shares they hold, (ii) to waive their redemption rights with respect to any founder shares, private placement and any public shares
purchased during or after the Initial Public Offering in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our
obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business
combination within 24 months from the Initial Public Offering, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares or pre-initial business
combination activity and (iii) waive their rights to liquidating distributions from the trust account with respect to any founder shares or private placement shares they hold if we fail to consummate an initial business combination within
24 months from the Initial Public Offering, (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within
24 months from the Initial Public Offering); 

  
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	 	•	 	 the founder shares will automatically convert into our Class A ordinary shares at the time of our initial
business combination as described below adjacent to the caption “Founder shares conversion and antidilution rights” and in our amended and restated memorandum and articles of association; and 

 

	 	•	 	 the founder shares are entitled to registration rights. 

If we submit our initial business combination to our public shareholders for a vote, our sponsor and our founding team have agreed to vote
their founder shares, private placement shares and any public shares purchased during or after the Initial Public Offering in favor of our initial business combination. If we seek shareholder approval, we will complete our initial business
combination only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon, voted at a general meeting are voted in favor of the business combination. In such case, our sponsor and each member of our
founding team have agreed to vote their founder shares, private placement shares and any public shares purchased during or after the Initial Public Offering in favor of our initial business combination. As a result, in addition to our initial
shareholders’ founder shares, we would need 3,924,501, or 22.1%, of the 13,800,000 public shares sold in the Initial Public Offering to be voted in favor of an initial business combination in order to have our initial business combination
approved (assuming all issued and outstanding shares are voted and the overallotment option is not exercised). 
 The founder shares will
automatically convert into Class A ordinary shares on the first business day following the consummation of our initial business combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder
shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding (excluding the private placement shares underlying the
private placement units) upon completion of the Initial Public Offering, plus (ii) the sum of the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities
or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into
Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the initial business combination and any private placement units, private placement shares, private placement warrants and Class A ordinary shares issued
upon conversion or exercise thereof issued to our sponsor, members of our founding team or any of their affiliates upon conversion of working capital loans. In no event will the Class B ordinary shares convert into Class A ordinary shares
at a rate of less than one to one. 
 Except as described herein, our sponsor and our founding team have agreed not to transfer, assign or
sell (i) any of their founder shares until the earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A
ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar
transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property and (ii) any of their private placement units, private placement shares, private placement
warrants and Class A ordinary shares issued upon conversion or exercise thereof until 30 days after the completion of our initial business combination. Any permitted transferees will be subject to the same restrictions and other agreements
of our sponsor and our founding team with respect to any founder shares, private placement units, private placement shares, private placement warrants and Class A ordinary shares issued upon conversion or exercise thereof. We refer to such
transfer restrictions throughout this Annual Report on Form 10-K as the lock-up. Notwithstanding the foregoing, if the closing price of our Class A ordinary shares
equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after our initial business combination, the founder shares will be released from the lock-up. 

Prior to the completion of our initial business combination, only holders of our founder shares will have the right to vote on the appointment
of directors. Holders of our public shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove
a member of the board of directors for any reason. These 

  
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provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by holders representing at least
two-thirds of our issued and outstanding Class B ordinary shares. With respect to any other matter submitted to a vote of our shareholders, including any vote in connection with our initial business
combination, except as required by law, holders of our founder shares and holders of our public shares will vote together as a single class, with each share entitling the holder to one vote. 

Register of Members 
 Under the Companies
Law, we must keep a register of members and there should be entered therein: 
  

	 	•	 	 the names and addresses of the members of the company, a statement of the shares held by each member, which:

  

	 	•	 	 distinguishes each share by its number (so long as the share has a number); 

 

	 	•	 	 confirms the amount paid, or agreed to be considered as paid, on the shares of each member;

  

	 	•	 	 confirms the number and category of shares held by each member; and 

 

	 	•	 	 confirms whether each relevant category of shares held by a member carries voting rights under the Articles, and
if so, whether such voting rights are conditional. 

  

	 	•	 	 the date on which the name of any person was entered on the register as a member; and 

 

	 	•	 	 the date on which any person ceased to be a member. 

For these purposes, “voting rights” means rights conferred on shareholders, including the right to appoint or remove directors, in
respect of their shares to vote at general meetings of the company on all or substantially all matters. A voting right is conditional where the voting right arises only in certain circumstances. 

Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set out therein (i.e. the register of
members will raise a presumption of fact on the matters referred to above unless rebutted) and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to the shares as set against its name
in the register of members. 
 Further, the Cayman Islands court has the power to order that the register of members maintained by a company
should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in respect of our ordinary shares, then the
validity of such shares may be subject to re-examination by a Cayman Islands court. 
 Preference Shares 

Our amended and restated memorandum and articles of association will authorize 1,000,000 preference shares and will provide that preference
shares may be issued from time to time in one or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any
qualifications, limitations and restrictions thereof, applicable to the shares of each series. Our board of directors will be able to, without shareholder approval, issue preference shares with voting and other rights that could adversely affect the
voting power and other rights of the holders of the ordinary shares and could have anti-takeover effects. The ability of our board of directors to issue preference shares without shareholder approval could have the effect of delaying, deferring or
preventing a change of control of us or the removal of our founding team. We have no preference shares issued and outstanding at the date hereof. Although we do not currently intend to issue any preference shares, we cannot assure you that we will
not do so in the future. No preference shares are being issued or registered in the Initial Public Offering. 

  
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 Warrants 

Public shareholders’ warrants 

Each whole warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to
adjustment as discussed below, at any time commencing on the later of one year from the closing of the Initial Public Offering and 30 days after the completion of our initial business combination, provided in each case that we have an effective
registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available (or we permit holders to exercise their warrants on a cashless
basis under the circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant to the warrant
agreement, a warrant holder may exercise its warrants only for a whole number of Class A ordinary shares. 
 This means only a whole
warrant may be exercised at a given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least three units, you will not be
able to receive or trade a whole warrant. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. 

We will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to
settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying
our obligations described below with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable and we will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless
the Class A ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions
in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required
to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A
ordinary share underlying such unit. 
 We have agreed that as soon as practicable, but in no event later than 20 business days after the
closing of our initial business combination, we will use our commercially reasonable efforts to file with the SEC a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants, and we will use our
commercially reasonable efforts to cause the same to become effective within 60 business days after the closing of our initial business combination, and to maintain the effectiveness of such registration statement and a current prospectus relating
to those Class A ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement; provided that if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national
securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a
“cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so appoint, we will not be required to file or maintain in effect a registration statement. If a registration statement covering the
Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of the initial business combination, warrant holders may, until such time as there is an effective registration statement and
during any period when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption, but we will use our
best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. 
 In addition,
if (x) we issue additional Class A ordinary shares or equity linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20
per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our initial shareholders or their

  
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affiliates, without taking into account any founder shares held by our initial shareholders or such affiliates, as applicable, prior to such issuance including any transfer or reissuance of such
shares (the “Newly Issued Price”)), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination, and
(z) the volume-weighted average trading price of our Class A ordinary shares during the 10 trading day period starting on the trading day after the day on which we consummate our initial business combination is below $9.20 per share, the
exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices adjacent to “Redemption of
warrants for cash when the price per Class A ordinary share equals or exceeds $10.00” and “Redemptions of warrants for cash when the price per Class A ordinary share equals or exceeds
$18.00” will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively. 

Redemptions of warrants for cash when the price per Class A ordinary share equals or exceeds $18.00. Once the
warrants become exercisable, we may call the warrants for redemption (except as described herein with respect to the private placement warrants): 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per warrant; 

 

	 	•	 	 upon not less than 30 days’ prior written notice of redemption to each warrant holder; and

  

	 	•	 	 if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as
adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which notice of the redemption is given to the warrant holders (the “Reference Value”). 

We will not redeem the warrants as described above unless a registration statement under the Securities Act covering the issuance of the
Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those shares is available throughout the 30-day redemption period. If and when the
warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities laws. As a result, we may redeem the warrants as set forth
above even if the holders are otherwise unable to exercise the warrants. 
 We have established the last of the redemption criterion
discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant
holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) as well as the $11.50 (for whole shares) warrant exercise price after the redemption notice is issued. 

Redemption of warrants for cash when the price per Class A ordinary share equals or exceeds $10.00. Once the
warrants become exercisable, we may redeem the outstanding warrants: 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that
during such 30 day period holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market
value” of our Class A ordinary shares (as defined below) except as otherwise described below; provided, further, that if the warrants are not exercised on a cashless basis or otherwise during such 30 day period, we shall redeem such
warrants for $0.10 per share; 

  
 9 

	 	•	 	 if, and only if, the Reference Value (as defined above under “Redemptions of warrants for cash when the
price per Class A ordinary share equals or exceeds $18.00”) equals or exceeds $10.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) on the trading day
before we send the notice of redemption to the warrant holders; and 

  

	 	•	 	 if the Reference Value is less than $18.00 per share (as adjusted for share subdivisions, share dividends,
reorganizations, recapitalizations and the like), the private placement warrants must also be concurrently called for redemption on the same terms as the outstanding public warrants, as described above. 

The numbers in the table below represent the number of Class A ordinary shares that a warrant holder will receive upon exercise in
connection with a redemption by us pursuant to this redemption feature, based on the “fair market value” of our Class A ordinary shares on the corresponding redemption date (assuming holders elect to exercise their warrants and such
warrants are not redeemed for $0.10 per warrant), determined based on volume-weighted average price of our Class A ordinary shares as reported during the 10 trading days immediately following the date on which the notice of redemption is sent
to the holders of warrants, and the number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in the table below. We will provide our warrant holders with the final fair market value
no later than one business day after the 10-trading day period described above ends. 
 Pursuant to
the warrant agreement, references above to Class A ordinary shares shall include a security other than Class A ordinary shares into which the Class A ordinary shares have been converted or exchanged for in the event we are not the
surviving company in our initial business combination. The numbers in the table below will not be adjusted when determining the number of Class A ordinary shares to be issued upon exercise of the warrants if we are not the surviving entity
following our initial business combination. 
 The share prices set forth in the column headings of the table below will be adjusted as of
any date on which the number of shares issuable upon exercise of a warrant or the exercise price of the warrant is adjusted as set forth under the heading “Anti-dilution Adjustments” below. If the number of shares issuable upon exercise of
a warrant is adjusted, the adjusted share prices in the column headings will equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the exercise price of the warrant after such adjustment and
the denominator of which is the price of the warrant immediately prior to such adjustment. In such an event, the number of shares in the table below shall be adjusted by multiplying such share amounts by a fraction, the numerator of which is the
number of shares deliverable upon exercise of a warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a warrant as so adjusted. If the exercise price of the warrant is adjusted
as a result of raising capital in connection with the initial business combination, the adjusted share prices in the column headings will by multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued
Price as set forth under the heading “Anti-dilution Adjustments” and the denominator of which is $10.00. 
  

																																					
	 	  	Fair Market Value of Class A Ordinary Shares	 
	 Redemption Date (period to

expiration of warrants)
	  	<$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	>$18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 

  
 10 

																																					
	 	  	Fair Market Value of Class A Ordinary Shares	 
	 Redemption Date (period to

expiration of warrants)
	  	<$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	>$18.00	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact fair market value and redemption date may not be set forth in the table above, in which case, if the
fair market value is between two values in the table or the redemption date is between two redemption dates in the table, the number of Class A ordinary shares to be issued for each warrant exercised will be determined by a straight-line
interpolation between the number of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For
example, if the volume-weighted average price of our Class A ordinary shares as reported during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of the warrants is $11.00 per share, and
at such time there are 57 months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.277 Class A ordinary shares for each whole warrant. For an example
where the exact fair market value and redemption date are not as set forth in the table above, if the volume-weighted average price of our Class A ordinary shares as reported during the 10 trading days immediately following the date on which
the notice of redemption is sent to the holders of the warrants is $13.50 per share, and at such time there are 38 months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their
warrants for 0.298 Class A ordinary shares for each whole warrant. In no event will the warrants be exercisable in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment).

 This redemption feature is structured to allow for all of the outstanding warrants to be redeemed when the Class A ordinary shares
are trading at or above $10.00 per share, which may be at a time when the trading price of our Class A ordinary shares is below the exercise price of the warrants. We have established this redemption feature to provide us with the flexibility
to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “Redemptions of warrants for cash when the price per Class A ordinary share equals or exceeds
$18.00” Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their warrants based on an option pricing model with a fixed volatility input as of
the date of the prospectus relating to our Initial Public Offering. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding warrants, and therefore have certainty as to our capital structure as the
warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to warrant holders if we choose to exercise this redemption right and it will allow us to quickly proceed
with a redemption of the warrants if we determine it is in our best interest to do so. As such, we would redeem the warrants in this manner when we believe it is in our best interest to update our capital structure to remove the warrants and pay the
redemption price to the warrant holders. 

  
 11 

 As stated above, we can redeem the warrants when the Class A ordinary shares are
trading at a price starting at $10.00, which is below the exercise price of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing warrant holders with the opportunity to exercise their
warrants on a cashless basis for the applicable number of shares. If we choose to redeem the warrants when the Class A ordinary shares are trading at a price below the exercise price of the warrants, this could result in the warrant holders
receiving fewer Class A ordinary shares than they would have received if they had chosen to wait to exercise their warrants for Class A ordinary shares if and when such Class A ordinary shares were trading at a price higher than the
exercise price of $11.50. 
 No fractional Class A ordinary shares will be issued upon exercise. If, upon exercise, a holder would be
entitled to receive a fractional interest in a share, we will round down to the nearest whole number of the number of Class A ordinary shares to be issued to the holder. If, at the time of redemption, the warrants are exercisable for a security
other than the Class A ordinary shares pursuant to the warrant agreement (for instance, if we are not the surviving company in our initial business combination), the warrants may be exercised for such security. At such time as the warrants
become exercisable for a security other than the Class A ordinary shares, the Company (or surviving company) will use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of the
warrants. 
 A holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not
have the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or
9.8% (as specified by the holder) of the Class A ordinary shares issued and outstanding immediately after giving effect to such exercise. 

Anti-dilution Adjustments. If the number of outstanding Class A ordinary shares is increased by a capitalization or share dividend
payable in Class A ordinary shares, or by a sub-divisions of ordinary shares or other similar event, then, on the effective date of such capitalization or share dividend,
sub-divisions or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights
offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the “historical fair market value” (as defined below) will be deemed a share dividend of a
number of Class A ordinary shares equal to the product of (i) the number of Class A ordinary shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible
into or exercisable for Class A ordinary shares) and (ii) one minus the quotient of (x) the price per Class A ordinary share paid in such rights offering and (y) the historical fair market value. For these purposes,
(i) if the rights offering is for securities convertible into or exercisable for Class A ordinary shares, in determining the price payable for Class A ordinary shares, there will be taken into account any consideration received for
such rights, as well as any additional amount payable upon exercise or conversion and (ii) “historical fair market value” means the volume-weighted average price of Class A ordinary shares as reported during the 10 trading day
period ending on the trading day prior to the first date on which the Class A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

In addition, if we, at any time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or
other assets to all or substantially all the holders of Class A ordinary shares on account of such Class A ordinary shares (or other securities into which the warrants are convertible), other than (a) as described above, (b) any
cash dividends or cash distributions which, when combined on a per share basis with all other cash dividends and cash distributions paid on the Class A ordinary shares during the 365-day period ending on
the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately reflect any other adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price or to
the number of Class A ordinary shares issuable on exercise of each warrant) but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50 per share, (b) to satisfy the redemption
rights of the holders of Class A ordinary shares in connection with a proposed initial business combination, (d) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a shareholder vote to amend
our amended and restated memorandum and articles of association 

  
 12 

 
(A) to modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business
combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of the Initial Public Offering or (B) with respect to any other provision relating to the rights of
holders of our Class A ordinary shares or pre-initial business combination activity, or (e) in connection with the redemption of our public shares upon our failure to complete our initial business
combination, then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each Class A ordinary
share in respect of such event. 
 If the number of outstanding Class A ordinary shares is decreased by a consolidation, combination,
reverse share sub-division or reclassification of Class A ordinary shares or other similar event, then, on the effective date of such consolidation, combination, reverse share sub-division, reclassification or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion to such decrease in outstanding Class A ordinary
shares. 
 Whenever the number of Class A ordinary shares purchasable upon the exercise of the warrants is adjusted, as described
above, the warrant exercise price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A ordinary shares purchasable upon the
exercise of the warrants immediately prior to such adjustment and (y) the denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter. 

In case of any reclassification or reorganization of the outstanding Class A ordinary shares (other than those described above or that
solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the continuing corporation and that does
not result in any reclassification or reorganization of our issued and outstanding Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an entirety or
substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and in lieu of the
Class A ordinary shares immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of Class A ordinary shares or other securities or property (including cash) receivable upon
such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately prior to such
event. If less than 70% of the consideration receivable by the holders of Class A ordinary shares in such a transaction is payable in the form of Class A ordinary shares in the successor entity that is listed for trading on a national
securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the
registered holder of the warrant properly exercises the warrant within thirty days following public disclosure of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes value (as
defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant to
which the holders of the warrants otherwise do not receive the full potential value of the warrants. 
 The warrants have been issued in
registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure
any ambiguity or correct any defective provision or correct any mistake, including to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement set forth in the prospectus relating to
the Initial Public Offering, but requires the approval by the holders of at least 65% of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders. You should review a copy of the warrant
agreement filed as an exhibit to our registration statement, for a complete description of the terms and conditions applicable to the warrants. 

  
 13 

 The warrant holders do not have the rights or privileges of holders of ordinary shares and
any voting rights until they exercise their warrants and receive Class A ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder will be entitled to one vote for each share held of record
on all matters to be voted on by shareholders. 
 No fractional shares will be issued upon exercise of the warrants. If, upon exercise of
the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of Class A ordinary shares to be issued to the warrant holder. 

We have agreed that, subject to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the
warrant agreement will be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive
forum for any such action, proceeding or claim. This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the federal district courts of the United States of America are the
sole and exclusive forum. 
 Private placement warrants 

Except as described below, the private placement warrants have terms and provisions that are identical to those of the warrants sold as part of
the units in the Initial Public Offering. The private placement warrants (including the Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable until 30 days
after the completion of our initial business combination (except pursuant to limited exceptions as described in the prospectus related to the Initial Public Offering under “Transfers of Founder Shares and private placement warrants,” to
our officers and directors and other persons or entities affiliated with the initial purchasers of the private placement warrants) and they will not be redeemable by us (except as described above under “Redemption of warrants for cash when
the price per Class A ordinary share equals or exceeds $10.00”) so long as they are held by our sponsor or its permitted transferees. Our sponsor, or its permitted transferees, has the option to exercise the private
placement warrants on a cashless basis. If the private placement warrants are held by holders other than our sponsor or its permitted transferees, the private placement warrants will be redeemable by us in all redemption scenarios and exercisable by
the holders on the same basis as the warrants included in the units sold in the Initial Public Offering. Any amendment to the terms of the private placement warrants or any provision of the warrant agreement with respect to the private
placement warrants will require a vote of holders of at least 50% of the number of the then outstanding private placement warrants. 
 If
holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of Class A ordinary shares equal to the quotient obtained by
dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “historical fair market value” (defined below) over the exercise price of the warrants by (y) the
historical fair market value. The “historical fair market value” will mean the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice
of warrant exercise is sent to the holders of warrants. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held by our sponsor and permitted transferees is because it is not known at this
time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We expect to have policies in place that
restrict insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of
material non-public information. Accordingly, unlike public shareholders who could exercise their warrants and sell the Class A ordinary shares received upon such exercise freely in the open market in
order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate. 

Dividends 
 We have not paid any cash
dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition subsequent to completion of a business combination. The payment of any cash dividends subsequent to a business combination 

  
 14 

 
will be within the discretion of our board of directors at such time, and we will only pay such dividend out of our profits or share premium (subject to solvency requirements) as permitted under
Cayman Islands law. Further, if we incur any indebtedness in connection with a business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. 

Our Transfer Agent and Warrant Agent 
 The
transfer agent for our ordinary shares and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent and
warrant agent, its agents and each of its shareholders, directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any claims and losses due to any
gross negligence or intentional misconduct of the indemnified person or entity. 
 Certain Differences in Corporate Law 

Cayman Islands companies are governed by the Companies Law. The Companies Law is modeled on English Law but does not follow recent English Law
statutory enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Law applicable to us and the laws
applicable to companies incorporated in the United States and their shareholders. 
 Mergers and Similar Arrangements. In certain
circumstances, the Companies Law allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of
that other jurisdiction) so as to form a single surviving company. 
 Where the merger or consolidation is between two Cayman Islands
companies, the directors of each company must approve and enter into a written plan of merger or consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special
resolution (usually a majority of two-thirds in value of the voting shares voted at a general meeting) of the shareholders of each company; or (b) such other authorization, if any, as may be specified in
such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its
subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the
requirements of the Companies Law (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan of merger or consolidation. 

Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign company, the
directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the merger or consolidation is
permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional documents have been
or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that no
receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; and (iv) that no scheme, order, compromise or
other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted. 

Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required
to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or
consolidated is bona fide and not intended to defraud 

  
 15 

 
unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company
(a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the
jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under
the laws of the relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation. 

Where the above procedures are adopted, the Companies Law provides certain limited appraisal rights for dissenting shareholders to be paid a
payment of the fair value of his shares upon their dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows: (a) the shareholder must give his written objection to the merger or
consolidation to the constituent company before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within
20 days following the date on which the merger or consolidation is approved by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days
following receipt of such notice from the constituent company, give the constituent company a written notice of his intention to dissent including, among other details, a demand for payment of the fair value of his shares; (d) within seven days
following the date of the expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the
consolidated company must make a written offer to each dissenting shareholder to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price within 30 days following the
date on which the offer was made, the company must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period
expires, the company (and any dissenting shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with
whom agreements as to the fair value of their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid
by the company upon the amount determined to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. These rights of
a dissenting shareholder are not available in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the
relevant date or where the consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company. 

Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain
circumstances, schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as a “scheme of arrangement” which may be tantamount
to a merger. 
 In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and
take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement
is to be made and who must in addition represent three-fourth in value of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose.
The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should
not be approved, the court can be expected to approve the arrangement if it satisfies itself that: 
  

	 	•	 	 we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions
as to majority vote have been complied with; 

  
 16 

	 	•	 	 the shareholders have been fairly represented at the meeting in question; the arrangement is such as a
businessman would reasonably approve; and 

  

	 	•	 	 the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Law
or that would amount to a “fraud on the minority.” 

 If a scheme of arrangement or takeover offer (as described
below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to
dissenting shareholders of United States corporations. 
 Squeeze-out Provisions. When a
tender offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months, the offeror may, within a two-month period, require the holders of the remaining shares to
transfer such shares on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.

 Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means
other than these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business. 

Shareholders’ Suits. Campbells, our Cayman Islands legal counsel, is not aware of any reported class action having been brought in
a Cayman Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability for such actions. In most cases, we will be the proper plaintiff in any claim based on a breach
of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities and on English authorities, which would in all likelihood be of persuasive
authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which: 
  

	 	•	 	 a company is acting, or proposing to act, illegally or ultra vires (beyond the scope of its authority);

  

	 	•	 	 the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by
more than the number of votes which have actually been obtained; or 

  

	 	•	 	 those who control the company are perpetrating a “fraud on the minority.” 

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to
be infringed. 
 Enforcement of Civil Liabilities. The Cayman Islands has a different body of securities laws as compared to the
United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States. 

We have been advised by Campbells, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize
or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to
impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances,
although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without
retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to
be enforced in the Cayman Islands, such judgment must be final and conclusive 

  
 17 

 
and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud
or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman
Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere. 
 Special Considerations for
Exempted Companies. We are an exempted company with limited liability (meaning our public shareholders have no liability, as members of the company, for liabilities of the company over and above the amount paid for their shares) under the
Companies Law. The Companies Law distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as
an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below: 
  

	 	•	 	 annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its
operations mainly outside of the Cayman Islands and has complied with the provisions of the Companies Law; 

  

	 	•	 	 an exempted company’s register of members is not open to inspection; 

 

	 	•	 	 an exempted company does not have to hold an annual general meeting; 

 

	 	•	 	 an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings
are usually given for 20 years in the first instance); 

  

	 	•	 	 an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman
Islands; 

  

	 	•	 	 an exempted company may register as a limited duration company; and an exempted company may register as a
segregated portfolio company. 

 Amended and Restated Memorandum and Articles of Association 

Our amended and restated memorandum and articles of association contains provisions designed to provide certain rights and protections relating
to the Initial Public Offering that will apply to us until the completion of our initial business combination. These provisions cannot be amended without a special resolution. As a matter of Cayman Islands law, a resolution is deemed to be a special
resolution where it has been approved by either (i) the affirmative vote of at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s
shareholders entitled to vote and so voting at a general meeting for which notice specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized by a company’s articles of association,
by a unanimous written resolution of all of the company’s shareholders. Our amended and restated memorandum and articles of association provides that special resolutions must be approved either by at least
two-thirds of our shareholders who attend and vote at a general meeting of the company (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our
shareholders. 
 Further, our amended and restated memorandum and articles of association provides that a quorum at our general meetings
will consist of one-third of the ordinary shares entitled to vote at such meeting and present in person or by proxy; provided that a quorum in connection with any meeting that is convened to vote on a business
combination or any amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their
shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of the Initial Public Offering or (B) with
respect to any other provision relating to the rights of holders of our Class A ordinary shares or pre-initial business combination activity shall be a majority of the ordinary shares entitled to vote at
such meeting being individuals present in person or by proxy or if a corporation or other non-natural person by its duly authorized representative or proxy. 

  
 18 

 Our initial shareholders and their permitted transferees, if any, who collectively
beneficially own approximately 20% of our ordinary shares upon the closing of the Initial Public Offering, will participate in any vote to amend our amended and restated memorandum and articles of association and will have the discretion to vote in
any manner they choose. Specifically, our amended and restated memorandum and articles of association provides, among other things, that: 
  

	 	•	 	 if we do not consummate an initial business combination within 24 months from the closing of the Initial
Public Offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay
our income taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and
dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law; 

 

	 	•	 	 prior to the completion of our initial business combination, we may not issue additional securities that would
entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or on any other proposal presented to shareholders prior to or in
connection with the completion of an initial business combination or (b) to approve an amendment to our amended and restated memorandum and articles of association to (x) extend the time we have to consummate a business combination beyond
24 months from the Initial Public Offering or (y) amend the foregoing provisions; 

  

	 	•	 	 although we do not intend to enter into a business combination with a partner business that is affiliated with
our sponsor, our directors or our executive officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent directors, will obtain an opinion from an independent investment banking firm
which is a member of FINRA or an independent valuation or accounting firm that such a business combination or transaction is fair to our company from a financial point of view; 

 

	 	•	 	 if a shareholder vote on our initial business combination is not required by applicable law or stock exchange
rule and we do not decide to hold a shareholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will
file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under
Regulation 14A of the Exchange Act; 

  

	 	•	 	 our initial business combination must occur with one or more partner businesses that together have an aggregate
fair market value of at least 80% of the net assets held in the trust account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account) at the time of signing the agreement
to enter into the initial business combination; 

  

	 	•	 	 if our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public
shares if we do not complete our initial business combination within 24 months from the Initial Public Offering or (B) with respect to any other provision relating to the rights of holders 

  
 19 

 of our Class A ordinary shares or pre-initial
business combination activity, we will provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon such approval at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public
shares, subject to the limitations described herein; and 
  

	 	•	 	 we will not effectuate our initial business combination solely with another blank check company or a similar
company with nominal operations. 

 In addition, our amended and restated memorandum and articles of association provides
that under no circumstances will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001. 

The Companies Law permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval
of a special resolution. A company’s articles of association may specify that the approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands exempted company may amend its
memorandum and articles of association regardless of whether its memorandum and articles of association provides otherwise. Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan
which are contained in our amended and restated memorandum and articles of association, we view all of these provisions as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive
any of these provisions unless we provide dissenting public shareholders with the opportunity to redeem their public shares. 
 Anti-Money
Laundering — Cayman Islands 
 In order to comply with legislation or regulations aimed at the prevention of money
laundering, we are required to adopt and maintain anti-money laundering procedures, and may require subscribers to provide evidence to verify their identity and source of funds. Where permitted, and subject to certain conditions, we may also
delegate the maintenance of our anti-money laundering procedures (including the acquisition of due diligence information) to a suitable person. 

We reserve the right to request such information as is necessary to verify the identity of a subscriber. In some cases the directors may be
satisfied that no further information is required since an exemption applies under the Anti-Money Laundering Regulations (2020 Revision) of the Cayman Islands, as amended and revised from time to time (the “Regulations”). Depending on the
circumstances of each application, a detailed verification of identity might not be required where: 
  

	 	(a)	 the subscriber makes the payment for their investment from an account held in the subscriber’s name at a
recognized financial institution; 

  

	 	(b)	 the subscriber is regulated by a recognized regulatory authority and is based or incorporated in, or formed
under the law of, a recognized jurisdiction; or 

  

	 	(c)	 the application is made through an intermediary which is regulated by a recognized regulatory authority and is
based in or incorporated in, or formed under the law of a recognized jurisdiction and an assurance is provided in relation to the procedures undertaken on the underlying investors. 

For the purposes of these exceptions, recognition of a financial institution, regulatory authority or jurisdiction will be determined in
accordance with the Regulations by reference to those jurisdictions recognized by the Cayman Islands Monetary Authority as having equivalent anti-money laundering regulations. 

  
 20 

 In the event of delay or failure on the part of the subscriber in producing any information
required for verification purposes, we may refuse to accept the application, in which case any funds received will be returned without interest to the account from which they were originally debited. 

We also reserve the right to refuse to make any distribution payment to a shareholder if our directors or officers suspect or are advised that
the payment of such distribution to such shareholder might result in a breach of applicable anti-money laundering or other laws or regulations by any person in any relevant jurisdiction, or if such refusal is considered necessary or appropriate to
ensure our compliance with any such laws or regulations in any applicable jurisdiction. 
 If any person resident in the Cayman Islands
knows or suspects, or has reasonable grounds for knowing or suspecting, that another person is engaged in criminal conduct or is involved with terrorism or terrorist property and the information for that knowledge or suspicion came to their
attention in the course of business in the regulated sector or other trade, profession, business or employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands,
pursuant to the Proceeds of Crime Law (2020 Revision) of the Cayman Islands if the disclosure relates to criminal conduct or money laundering or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority,
pursuant to the Terrorism Law (2018 Revision) of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such a report will not be treated as a breach of confidence or of any restriction upon
the disclosure of information imposed by any enactment or otherwise. 
 Data Protection in the Cayman Islands — Privacy Notice 

We have certain duties under the Data Protection Act, 2017 of the Cayman Islands (the “DPA”) based on internationally accepted
principles of data privacy. 
 Introduction 

This privacy notice puts our shareholders on notice that through your investment in the company you will provide us with certain personal
information which constitutes personal data within the meaning of the DPA (“personal data”). 
 In the following discussion, the
“company” refers to us and our affiliates and/or delegates, except where the context requires otherwise. 
 Investor Data 

We will collect, use, disclose, retain and secure personal data to the extent reasonably required only and within the parameters that could be
reasonably expected during the normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities of on an ongoing basis or to comply with legal and regulatory
obligations to which we are subject. We will only transfer personal data in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures designed to protect against unauthorized
or unlawful processing of the personal data and against the accidental loss, destruction or damage to the personal data. 
 In our use of
this personal data, we will be characterized as a “data controller” for the purposes of the DPA, while our affiliates and service providers who may receive this personal data from us in the conduct of our activities may either act as our
“data processors” for the purposes of the DPA or may process personal information for their own lawful purposes in connection with services provided to us. 

We may also obtain personal data from other public sources. Personal data includes, without limitation, the following information relating to
a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification,
credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder’s investment activity. 

  
 21 

 Who this Affects 

If you are a natural person, this will affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements
such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any reason in relation your investment in the Company, this will be relevant for those individuals and you should transmit the
content of this Privacy Notice to such individuals or otherwise advise them of its content. 
 How the Company May Use Your Personal Data 

The company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular: 

 

	 	(i)	 where this is necessary for the performance of our rights and obligations under any purchase agreements;

  

	 	(ii)	 where this is necessary for compliance with a legal and regulatory obligation to which we are subject (such as
compliance with anti-money laundering and FATCA/CRS requirements); and/or 

  

	 	(iii)	 where this is necessary for the purposes of our legitimate interests and such interests are not overridden by
your interests, fundamental rights or freedoms. 

 Should we wish to use personal data for other specific purposes
(including, if applicable, any purpose that requires your consent), we will contact you. 
 Why We May Transfer Your Personal Data 

In certain circumstances, we may be legally obliged to share personal data and other information with respect to your shareholding with the
relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities. 

We anticipate disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain
entities located outside the US, the Cayman Islands or the European Economic Area), who will process your personal data on our behalf. 
 The Data
Protection Measures We Take 
 Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the
Cayman Islands shall be in accordance with the requirements of the DPA. 
 We and our duly authorized affiliates and/or delegates shall
apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data. 

We shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or
freedoms or those data subjects to whom the relevant personal data relates. 
 If you consider that your personal data has not been handled
correctly, or you are not satisfied with the company’s responses to any requests you have made regarding the use of your personal data, you have the right to complain to the Cayman Islands’ Ombudsman. The Ombudsman can be contacted by
calling +1 (345) 946-6283 or by email at info@ombudsman.ky. 

  
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 Certain Anti-Takeover Provisions of our Amended and Restated Memorandum and Articles of Association

 Our amended and restated memorandum and articles of association provides that our board of directors is classified into three classes
of directors. As a result, in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual general stock meetings. 

Our authorized but unissued Class A ordinary shares and preference shares are available for future issuances without shareholder approval
and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved Class A ordinary shares and
preference shares could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise. 

Securities Eligible for Future Sale 
 As
of December 31, 2020, we had 13,800,000 Class A ordinary shares issued and outstanding on an as-converted basis. These shares are freely tradable without restriction or further registration under the
Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder shares (3,450,000 founder shares) and all of the outstanding
private placement shares (501,000 private placement shares) are restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering. 

Rule 144 
 Pursuant to
Rule 144, a person who has beneficially owned restricted shares or warrants for at least six months would be entitled to sell their securities provided that (i) such person is not deemed to have been one of our affiliates at the time
of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and have filed all required reports under
Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file reports) preceding the sale. 

Persons who have beneficially owned restricted shares or warrants for at least six months but who are our affiliates at the time of, or
at any time during the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of:

  

	 	•	 	 1% of the total number of ordinary shares then outstanding, which equals 177,510 shares immediately after the
Initial Public Offering; and 

  

	 	•	 	 the average weekly reported trading volume of the Class A ordinary shares during the four calendar weeks
preceding the filing of a notice on Form 144 with respect to the sale. 

 Sales by our affiliates under Rule 144 are
also limited by manner of sale provisions and notice requirements and to the availability of current public information about us. 
 Restrictions on
the Use of Rule 144 by Shell Companies or Former Shell Companies 
 Rule 144 is not available for the resale of securities
initially issued by shell companies (other than business combination related shell companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the
following conditions are met: 
  

	 	•	 	 the issuer of the securities that was formerly a shell company has ceased to be a shell company;

  
 23 

	 	•	 	 the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange
Act; 

  

	 	•	 	 the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable,
during the preceding 12 months (or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and 

 

	 	•	 	 at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC
reflecting its status as an entity that is not a shell company. 

 As a result, our initial shareholders will be able to
sell their founder shares and our sponsor will be able to sell its private placement warrants, and the securities underlying the foregoing, pursuant to Rule 144 without registration one year after we have completed our initial business
combination. 
 Registration and Shareholder Rights 

The holders of the founder shares, private placement units, private placement shares, private placement warrants, Class A ordinary
shares underlying the private placement warrants and warrants that may be issued upon conversion of working capital loans (and any Class A ordinary shares issuable upon the exercise of the private placement warrants and warrants that may be
issued upon conversion of working capital loans) will be entitled to registration rights pursuant to a registration and shareholder rights agreement to be signed at the closing of the Initial Public Offering. The holders of these securities are
entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our
completion of our initial business combination. However, the registration and shareholder rights agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until termination of the
applicable lock-up period, which occurs (i) in the case of the founder shares, as described in the following paragraph, and (ii) in the case of the private placement warrants and the respective
Class A ordinary shares underlying such warrants, 30 days after the completion of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration statements. 

Except as described herein, our sponsor and our founding team have agreed not to transfer, assign or sell (i) any of their founder shares
until the earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary shares equals or exceeds $12.00
per share (as adjusted for share divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
after our initial business combination, or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their
ordinary shares for cash, securities or other property, and (ii) any of their private placement units, private placement shares, private placement warrants and Class A ordinary shares issued upon conversion or exercise thereof until
30 days after the completion of our initial business combination. Any permitted transferees will be subject to the same restrictions and other agreements of our sponsor and founding team with respect to any founder shares, private
placement units, private placement shares, private placement warrants and Class A ordinary shares issued upon conversion or exercise thereof. We refer to such transfer restrictions throughout this Annual Report on Form 10-K as the lock-up. 
 In addition, pursuant to the registration
and shareholder rights agreement, our sponsor, upon and following consummation of an initial business combination, will be entitled to nominate three individuals for appointment to our board of directors, as long as the sponsor holds any securities
covered by the registration and shareholder rights agreement. 

  
 24 

 Listing of Securities 

Our units, Class A ordinary shares and warrants are listed on Nasdaq under the symbols “FLACU,” “FLAC” and
“FLACW,” respectively. The units will automatically separate into their component parts and will not be traded following the completion of our initial business combination. 

  
 25EX-10.1

 Exhibit 10.1 

SPONSOR SUPPORT AGREEMENT 

This Sponsor Support Agreement (this “Agreement”) is entered into on May 11, 2021 by Eagle Equity Partners III, LLC, a
Delaware limited liability company (the “Sponsor”), Soaring Eagle Acquisition Corp., a Cayman Islands exempted company (which shall domesticate as a Delaware corporation in connection with the consummation of the transactions
contemplated hereby) (together with its successor, “Acquiror”), Ginkgo Bioworks, Inc,, a Delaware corporation (the “Company”), and, solely with respect to Section 1.6(c),
Section 1.10, Section 2.1(f) and Article III, the individuals identified on Schedule I hereto (the “Sponsor Principals”). Acquiror, the Sponsor, the Sponsor
Principals and the Company are sometimes collectively referred to herein as the “Parties”, and each of them is sometimes individually referred to herein as a “Party”. Certain terms used in this Agreement have the
applicable meanings ascribed to them in Section 3.1. 
 RECITALS 

WHEREAS, as of the date hereof, the Sponsor is the holder of record and the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of (i) 43,125,000 Acquiror Cayman Class B Shares and (ii) 19,250,000 Acquiror Private Placement Warrants (which constitute all of the outstanding Acquiror Private
Placement Warrants); 
 WHEREAS, contemporaneously with the Parties’ execution and delivery of this Agreement, Acquiror, Merger Sub and
the Company have entered into an Agreement and Plan of Merger, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Merger Agreement”), pursuant to which, among other things,
Acquiror will domesticate as a Delaware corporation and Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation in the Merger and as a wholly owned Subsidiary of Acquiror; and 

WHEREAS, as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated
thereby, the Parties desire to agree to certain matters as set forth herein. 
 AGREEMENT 

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

COVENANTS AND AGREEMENTS 

Section 1.1 Forfeiture of Promote Shares and Private Placement Warrants. 

(a) Immediately prior to the Closing, the Sponsor will (and, subject only to the occurrence of the Closing, hereby does) irrevocably
surrender, forfeit and transfer to Acquiror, for no consideration and without any further right thereto, and consent to the termination and cancellation of, the Forfeited Promote Shares (and any other Equity Securities into which such Forfeited
Promote Shares may have been converted or for which such Forfeited Promote Shares may have been exchanged). 
 (b) Immediately prior to the
Closing, the Sponsor will (and, subject only to the occurrence of the Closing, hereby does) irrevocably surrender, forfeit and transfer to Acquiror, for no consideration and without any further right thereto, and consent to the termination and
cancellation of, the Forfeited Private Placement Warrants (and any other Equity Securities into which such Forfeited Private Placement Warrants may have been converted or for which such Forfeited Private Placement Warrants may have been exercised or
exchanged). 

 (c) Immediately prior to the Closing, the Sponsor will cause to be delivered and
surrendered to Acquiror for cancellation any stock certificates, warrant certificates or any similar instruments evidencing or representing any Forfeited Promote Share or Private Placement Warrants to be surrendered, forfeited, transferred,
terminated and cancelled pursuant to Section 1.1(a) or Section 1.1(b), as applicable. 

Section 1.2 Sponsor Earn-out. 

(a) The Sponsor hereby irrevocably agrees that, at (and subject only to the occurrence of) the Closing, the
Earn-out Promote Shares will become restricted shares and will be subject to the vesting and forfeiture provisions set forth in Section 1.2(d). 

(b) The Earn-out Promote Shares will be composed as follows: (i) 25% of the Earn-out Promote Shares will be subject to the vesting and forfeiture conditions specified in Section 1.2(d) (the “First Target Earn-out
Shares”), (ii) an additional 25% of the Earn-out Promote Shares will be subject to the vesting and forfeiture conditions specified in Section 1.2(d) (the “Second
Target Earn-out Shares”), (iii) an additional 25% of the Earn-out Promote Shares will be subject to the vesting and forfeiture conditions specified in
Section 1.2(d) (the “Third Target Earn-out Shares”) and (iv) the remaining 25% of the Earn-out Promote Shares will be
subject to the vesting and forfeiture conditions specified in Section 1.2(d) (the “Fourth Target Earn-out Shares”). 

(c) If the result of the product of (i) 25% multiplied by (ii) the total number of
Earn-out Promote Shares is not a whole number, then the number of Earn-out Promote Shares resulting from the product of (A) 4.00 multiplied by (B) the
fractional amount (rounded to the nearest thousandth when expressed in decimal form) of the fractional Earn-out Promote Share resulting from the calculation set forth in the introduction to this sentence will
be rounded down to the nearest whole number, and each such whole Earn-out Promote Share will be a First Target Earn-out Share. 

(d) The Earn-out Promote Shares will be subject to the following vesting conditions: 

(i) If, at any time during the Earn-out Period, the Acquiror Trading Price at any
point during the trading hours of a Trading Day is greater than or equal to $12.50 for any 20 Trading Days within any period of 30 consecutive Trading Days, the First Target Earn-out Shares will immediately
vest and no longer be subject to the forfeiture conditions provided in this Section 1.2. 
 (ii)
If, at any time during the Earn-out Period, the Acquiror Trading Price at any point during the trading hours of a Trading Day is greater than or equal to $15.00 for any 20 Trading Days within any period of 30
consecutive Trading Days, the Second Target Earn-out Shares will immediately vest and no longer be subject to the forfeiture conditions provided in this Section 1.2. 

(iii) If, at any time during the Earn-out Period, the Acquiror Trading Price at any
point during the trading hours of a Trading Day is greater than or equal to $17.50 for any 20 Trading Days within any period of 30 consecutive Trading Days, the Third Target Earn-out Shares will immediately
vest and no longer be subject to the forfeiture conditions provided in this Section 1.2. 

  
 2 

 (iv) If, at any time during the
Earn-out Period, the Acquiror Trading Price at any point during the trading hours of a Trading Day is greater than or equal to $20.00 for any 20 Trading Days within any period of 30 consecutive Trading Days,
the Fourth Target Earn-out Shares will immediately vest and no longer be subject to the forfeiture conditions provided in this Section 1.2. 

(e) For the avoidance of doubt, if the vesting conditions applicable to more than one of Section 1.2(d)(i),
Section 1.2(d)(ii), Section 1.2(d)(iii) or Section 1.2(d)(iv) have been satisfied at any time, then all of the Earn-out Promote
Shares subject to such satisfied vesting conditions will immediately vest and no longer be subject to the forfeiture conditions provided in this Section 1.2. Without limiting the foregoing, if the vesting condition set
forth in Section 4.4(c)(i), Section 4.4(c)(ii), Section 4.4(c)(iii) or Section 4.4(c)(iv) of the Merger Agreement is deemed met by the Company, then the corresponding vesting condition set forth in
Section 1.2(d)(i), Section 1.2(d)(ii), Section 1.2(d)(iii) or Section 1.2(d)(iv), respectively, shall also be deemed met. 

(f) If, upon the expiration of the Earn-out Period, the vesting of any of the Earn-out Promote Shares has not occurred, then the applicable Earn-out Promote Shares that failed to vest pursuant to Section 1.2(d), as applicable,
and any dividends or distributions previously paid or made in respect thereof will be automatically forfeited and transferred to Acquiror for no consideration, and no Person (other than Acquiror) will have any further right with respect thereto.
Notwithstanding anything to the contrary herein, in no event will the Sponsor be entitled to retain after the Earn-out Period an aggregate number of Earn-out Promote
Shares greater than the total number of Earn-out Promote Shares that has vested in accordance with Section 1.2(d) or Section 1.2(h). 

(g) If, during the Earn-out Period, the Acquiror Delaware Class A Shares outstanding as of
immediately following the Merger Effective Time shall have been changed into a different number of shares or a different class, by reason of any Equity Adjustment, or any similar event shall have occurred, then the applicable Acquiror Trading Price
specified in each of Section 1.2(d)(i), Section 1.2(d)(ii), Section 1.2(d)(iii) and Section 1.2(d)(iv) will be equitably adjusted to reflect such
change. 
 (h) In the event that there is an Acquiror Sale during the Earn-out Period, then, to the
extent that the holders of Acquiror Delaware Class A Shares receive an Acquiror Sale Price that is greater than or equal to the applicable Acquiror Trading Price specified in Section 1.2(d)(i),
Section 1.2(d)(ii), Section 1.2(d)(iii) or Section 1.2(d)(iv) (subject to Section 1.2(g)) any Earn-out
Promote Shares that have not previously vested in accordance with Section 1.2(d)(i), Section 1.2(d)(ii), Section 1.2(d)(iii) or
Section 1.2(d)(iv), as applicable, will be deemed to have vested (to the extent that such Earn-out Promote Shares would have vested pursuant to
Section 1.2(d)(i), Section 1.2(d)(ii), Section 1.2(d)(iii) or Section 1.2(d)(iv), as applicable, if the Acquiror Trading Price had been the
Acquiror Sale Price for any 20 Trading Days within any period of 30 Trading Days during the Earn-out Period) immediately prior to the closing of such Acquiror Sale, and the holders of any Earn-out Promote Shares deemed vested pursuant to this Section 1.2(h) will be eligible to participate in such Acquiror Sale with respect to such
Earn-Out Promote Shares on the same terms, and subject to the same conditions, as the holders of Acquiror Delaware Class A Shares or Acquiror Delaware Class B Shares, as applicable, generally. 

(i) For so long as any Earn-out Promote Share remains subject to the vesting and forfeiture
conditions specified in Section 1.2(d), (i) the holder thereof will be entitled to exercise the voting rights carried by such Earn-out Promote Share and (ii) the holder thereof
will not be entitled to receive any dividends or other distributions in respect of such Earn-out Promote Share, and any dividends 

  
 3 

 
or distributions paid or made in respect of such Earn-out Promote Share will be retained by Acquiror and invested as and to the extent determined by
Acquiror and will be paid or made to the holder of such Earn-out Promote Share only when and to the extent that such Earn-out Promote Share vests in accordance with
Section 1.2(d), and, to the extent that such Earn-out Promote Share fails to vest in accordance with Section 1.2(d) prior to the expiration of the Earn-out Period, any dividends or distributions paid or made in respect thereof will be forfeited to Acquiror for no consideration, and no Person (other than Acquiror) will have any further right with respect
thereto. 
 Section 1.3 Restrictions on Transfer. 

(a) From the date hereof until the earlier of (i) the Closing or (ii) the valid termination of this Agreement pursuant to
Section 3.3, the Sponsor (and any other Person to which any Promote Share or Private Placement Warrant is Transferred) shall not, directly or indirectly, Transfer any of the Promote Shares or Private Placement Warrants
legally or beneficially owned by it, other than (A) as required or expressly and affirmatively permitted by the Merger Agreement or any Ancillary Agreement (including this Agreement) or (B) in accordance with
Section 1.4. In the event that the Sponsor (or any other Person to which any Promote Share or Private Placement Warrant is Transferred) Transfers any Promote Shares or Private Placement Warrants prior to the Closing,
Acquiror shall amend Schedule II hereto promptly thereafter (and, in any event, prior to the Closing) to reflect such Transfer. 

(b) From the Closing until the earlier of (i) the date that is one year following the Closing Date and (ii) the valid termination
of this Agreement pursuant to Section 3.3, the Sponsor (and each other Person to which any Promote Share is Transferred) shall not, directly or indirectly, Transfer any of the Promote Shares (including the Earn-out Promote Shares) legally or beneficially owned by it, other than in accordance with Section 1.4. For the avoidance of doubt, the restrictions set forth in this
Section 1.3(b) shall not apply to any Private Placement Warrants or to any Acquiror Delaware Class A Shares into which such Private Placement Warrants are converted or for which such Private Placement Warrants are
exercised or exchanged (including by reason of any Equity Adjustment). 
 (c) The Parties acknowledge and agree that
(i) notwithstanding anything to the contrary herein, all Promote Shares and Private Placement Warrants beneficially owned by the Sponsor (or any Person to which any Promote Share or Private Placement Warrant is Transferred) will remain subject
to any restrictions on Transfer under all applicable securities laws and all rules and regulations promulgated thereunder, and (ii) any purported Transfer of any Promote Share or Private Placement Warrant in violation of this Agreement will be
null and void ab initio. 
 Section 1.4 Exceptions to Restrictions on Transfer. Notwithstanding anything to the contrary
in Section 1.3(a) or Section 1.3(b), each holder of Promote Shares or Private Placement Warrants will be permitted to Transfer Promote Shares or Private Placement Warrants:  
 (a) to any of Acquiror’s officers or directors; 

(b) if such holder is an individual, then (i) by will or other testamentary document or device or (ii) by operation of applicable
Law, including applicable Laws of intestacy or descent or pursuant to a qualified domestic relations order, divorce settlement, divorce decree, separation agreement or related court order; 

(c) as a bona fide gift or gifts, including to any charitable organization; 

(d) for bona fide estate planning purposes; 

  
 4 

 (e) to any Person of which all of the outstanding equity interests are legally and
beneficially owned by such holder or, if such holder is an individual, then to one or more members of the immediate family or former spouse of such holder; 

(f) if such holder is a Person other than an individual, then to another Person (other than an individual) that is an Affiliate of such
holder, or to any investment fund or other Person managing or managed by such holder or one or more of its Affiliates (including, for the avoidance of doubt, where such holder is a partnership, to its general partner); 

(g) if such holder is a Person other than an individual, then (i) to any shareholder, partner or member of such holder in redemption of
such shareholder’s, partner’s or member’s interest in such holder or (ii) upon such holder’s bona fide liquidation or dissolution, to the shareholders, partners or members of such holder in accordance with its Governing
Documents; or 
 (h) to a nominee or custodian of any Person to which a Transfer would be permissible under any of the preceding clauses
(a) through (g); 
 provided that (A) in the case of any Transfer pursuant to any of the foregoing clauses (b), (c), (d) and (h), such
Transfer does not involve a disposition for value and (B) in the case of any Transfer pursuant to any of the foregoing clauses (a), (c), (d), (e), (f), (g) and (h), (1) the Person effecting such Transfer provides written notice of such Transfer
to Acquiror at least two Business Days prior to effecting such Transfer, (2) the Promote Shares or Private Placement Warrants so Transferred will remain subject to this Agreement, and, before such Transfer will be considered effective, the
Person to which such Promote Shares or Private Placement Warrants are to be Transferred will provide a written undertaking to each of Acquiror and the Company agreeing to be bound by the terms and conditions of this Agreement as if such Person were
the Sponsor for all purposes hereunder and, to the extent that any of the Promote Shares legally or beneficially owned by the Sponsor as of the date hereof are so Transferred, agreeing to be bound to the terms and conditions of each of
Section 1.1 and Section 1.2 as if such Person were the Sponsor, (C) the Sponsor will file any public report or filing required to be made under applicable securities laws (including filings
under Section 16(a) of the Exchange Act) to disclose such Transfer on a timely basis and (D) there will be no voluntary public disclosure or other voluntary announcement of such Transfer without the prior written consent of Acquiror. 

Section 1.5 Waiver of Anti-Dilution Provisions. The Sponsor hereby irrevocably waives (for itself and for its successors, heirs
and assigns), to the fullest extent permitted by applicable Law and the Governing Documents of Acquiror, any anti-dilution or other protection with respect to the Acquiror Cayman Class B Shares that would result in the Acquiror Cayman
Class B Shares converting into other Acquiror Shares in connection with any of the transactions contemplated by the Merger Agreement or any Ancillary Agreement (including the Domestication, the PIPE Investment and the Merger) at a ratio greater
than one-for-one (including the provisions of Article 17 of Acquiror’s Amended and Restated Memorandum and Articles of Association). The waiver specified in this
Section 1.5 will be applicable only in connection with the transactions contemplated by the Merger Agreement or any Ancillary Agreement (or any issuance of Equity Securities of Acquiror issued in connection with the
transactions contemplated by the Merger Agreement or any Ancillary Agreement) and will be void and of no force and effect if the Merger Agreement is validly terminated for any reason prior to the Closing. 

  
 5 

 Section 1.6 Sponsor Support Agreements. 

(a) The Sponsor hereby irrevocably and unconditionally agrees, solely in its capacity as a shareholder of Acquiror, that, unless this
Agreement has been validly terminated in accordance with Section 3.3, at any meeting of the shareholders of Acquiror (whether annual or special, however called and including any adjournment or postponement thereof), and in
connection with any written consent of shareholders of Acquiror, the Sponsor will, and will cause any other holder of record of any of the Sponsor’s voting Covered Securities: 

(i) to appear at such shareholder meeting or otherwise cause the Sponsor’s voting Covered Securities to be counted as
present at such shareholder meeting for purposes of establishing a quorum; 
 (ii) to vote, or cause to be voted, at such
shareholder meeting (or, as applicable, validly execute and deliver and take all other action necessary to grant legally effective consent to any action by written consent of the shareholders of Acquiror) all of the Sponsor’s voting Covered
Securities owned as of the record date for such meeting (or, as applicable, the date that any written consent is executed by the shareholders of Acquiror), in favor of (A) all of the Transaction Proposals and (B) the Acquiror Warrant
Proposal; and 
 (iii) to vote, or cause to be voted, at such shareholder meeting (or, as applicable, take all action
necessary to withhold consent to any action by written consent of the shareholders of Acquiror) all of the Sponsor’s voting Covered Securities owned as of the record date for such meeting (or, as applicable, the date that any written consent is
executed by the shareholders of Acquiror), against (A) any Business Combination Proposal and (B) any other action that would reasonably be expected to materially impede, interfere with, delay, postpone or adversely affect any of the
Transaction Proposals or any other transaction contemplated by the Merger Agreement or any Ancillary Agreement or result in any breach of any representation, warranty, covenant, agreement or other obligation of Acquiror or Merger Sub under the
Merger Agreement or of Acquiror, Merger Sub or the Sponsor under any Ancillary Agreement to which any of the foregoing is a party (including this Agreement). 

The obligations of the Sponsor specified in this Section 1.6(a) will apply whether or not any of the Transaction Proposals or, as
applicable, the Acquiror Warrant Proposal is recommended by the Acquiror Board and whether or not the Acquiror Board has previously recommended any of the Transaction Proposals or, as applicable, the Acquiror Warrant Proposal but changed such
recommendation. 
 (b) The Sponsor hereby irrevocably and unconditionally agrees not to elect to redeem any Acquiror Cayman Ordinary Share
in the Acquiror Share Redemption or otherwise. 
 (c) From the date hereof until the earlier of (i) the Closing or (ii) the valid
termination of this Agreement pursuant to Section 3.3, the Sponsor and each Sponsor Principal will comply with and fully perform all of its covenants and agreements set forth in the Insider Letter, and neither the Sponsor
nor any Sponsor Principal shall amend, restate, supplement or otherwise modify, or cause Acquiror to amend, restate, supplement or otherwise modify or waive, any provision of the Insider Letter without the prior written consent of the Company. 

(d) From the date hereof until the earlier of (i) the Closing or (ii) the valid termination of this Agreement pursuant to
Section 3.3, the Sponsor will, subject to any restrictions contained in its Governing Documents, advance funds to Acquiror as and when necessary to financing working capital or costs incurred in connection with the
transactions contemplated by the Merger Agreement and the Ancillary Agreements. 

  
 6 

 Section 1.7 Further Assurances. From time to time, at the Company’s or
Acquiror’s request and for no additional consideration, the Sponsor will execute and deliver such additional documents and use commercially reasonable efforts to take all such further action as may be reasonably necessary or reasonably
requested by Acquiror or the Company to effect the actions and consummate the transactions contemplated by this Agreement, the Merger Agreement and each other Ancillary Agreement to which the Sponsor is a party. For clarity, the preceding sentence
shall not require the Sponsor to pay any monetary amount or make any financial accommodation or concession. The Sponsor further agrees not to commence or participate (in a manner adverse to Acquiror, the Company or any of their respective Related
Persons) in, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any Action, derivative or otherwise, against Acquiror, the Company or any of their respective Related Persons, relating to the
negotiation, execution or delivery of the Merger Agreement, any of the Ancillary Agreements or any of the transactions contemplated thereby (including any Action (a) challenging the validity of, or seeking to enjoin the operation of, any
provision of the Merger Agreement or any of the Ancillary Agreements or (b) alleging a breach of any fiduciary duty of the Acquiror Board in connection with this Agreement, the Merger Agreement, any other Ancillary Agreement or any of the
transactions contemplated hereby or thereby). Notwithstanding anything herein to the contrary, nothing in this Agreement shall limit or restrict the ability of the Sponsor to enforce its rights under this Agreement or any other Ancillary Agreement
to which such Person is a party or seek any other remedies with respect to any breach of this Agreement or such other Ancillary Agreement by any other party hereto or thereto, including by commencing any Action in connection therewith. 

Section 1.8 No Inconsistent Agreement. The Sponsor hereby represents and covenants that the Sponsor has not entered into, and will
not enter into, any agreement that would restrict, limit or interfere with the performance of the Sponsor’s obligations hereunder. 

Section 1.9 Permitted Disclosure. The Sponsor hereby authorizes each of the Company and Acquiror to publish and disclose, in any
announcement, filing or disclosure required to be made by any Governmental Order or other applicable Law or the rules of any national securities exchange or as requested by the SEC, the Sponsor’s identity and ownership of Covered Securities and
the Sponsor’s obligations under this Agreement. 
 Section 1.10 Disclosure; Public Announcements. Neither Acquiror nor the
Company shall publish or disclose in any announcement, filing or disclosure the Sponsor’s identity or ownership of Equity Securities of Acquiror or the nature of the Sponsor’s obligations under this Agreement unless such publication or
disclosure is required to be made by any Governmental Order or other applicable Law or the rules of any national securities exchange or as requested by the SEC. For a period of two years following the Closing, neither the Sponsor nor any Sponsor
Principal shall, or shall permit any of its Affiliates to, issue any press release or make any other public announcement or public statement with respect to this Agreement, the Merger Agreement, any other Ancillary Agreement or any of the
transactions contemplated hereby or thereby (each, a “Public Communication”), without the prior written consent of each of Acquiror and the Company (which consent may be withheld in Acquiror’s or the Company’s sole
discretion), except (a) as required by applicable Law or any Governmental Authority (including pursuant to any court process), in which case the Sponsor or such Sponsor Principal shall provide Acquiror and the Company and their respective legal
counsel with a reasonable opportunity to review and comment on such Public Communication (solely with respect to such portions that relate to this Agreement, the Merger Agreement, any other Ancillary Agreement or the transactions contemplated hereby
or thereby) in advance of its issuance and shall give reasonable and good faith consideration to any such comments or (b) with respect to a Public Communication that is consistent with prior disclosures by Acquiror and the Company. 

  
 7 

 Section 1.11 Support of the Merger. 

(a) From the date hereof until the earlier of (i) the Closing or (ii) the valid termination of this Agreement pursuant to
Section 3.3, the Sponsor will not, and the Sponsor will instruct and use reasonable best efforts to cause its Representatives not to, (A) make any proposal or offer that constitutes a Business Combination Proposal,
(B) initiate, solicit, enter into or continue discussions, negotiations or transactions with, or encourage or respond to any inquiries or proposals by, any Person with respect to a Business Combination Proposal (other than to inform such Person
of the Sponsor’s obligations pursuant to this Section 1.11(a)) or (C) enter into any acquisition agreement, business combination agreement, merger agreement or similar definitive agreement, or any letter of
intent, memorandum of understanding or agreement in principle, or any other agreement relating to a Business Combination Proposal, in each case, other than to or with the Company and its Representatives. From and after the date hereof, the Sponsor
will, and will instruct and cause its Representatives, its Affiliates and their respective Representatives to, immediately cease and terminate all discussions and negotiations with any Persons that may be ongoing with respect to a Business
Combination Proposal (other than the Company and its Representatives). 
 (b) From the date hereof until the valid termination of this
Agreement, the Sponsor will use commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things reasonably necessary to consummate the Merger and the other transactions contemplated by the Merger
Agreement, in each case, on the terms and subject to the conditions set forth therein (provided that this sentence will not require the Sponsor to pay any monetary amount or make any financial accommodation or concession), and will not take
any action that would reasonably be expected to materially delay, materially impede or prevent the satisfaction of any of the conditions to the Merger set forth in Article X (Conditions to Obligations) of the Merger Agreement. 

Section 1.12 Acquiror Closing Statement. Acquiror shall deliver to the Company, concurrently with the statement contemplated by
Section 3.2(b) of the Merger Agreement, a statement setting forth (a) Acquiror’s good faith determination the total number of each of (i) the Upfront Promote Shares, (ii) the Forfeited Promote Shares, (iii) the
Forfeited Private Placement Warrants and (iv) the Earn-out Promote Shares, together with Acquiror’s good faith calculations thereof in accordance with this Agreement, and (b) a schedule setting
forth Acquiror’s determination of (i) the number of Promote Shares and the number of Private Placement Warrants to be surrendered, forfeited and transferred pursuant to Section 1.1(a) or
Section 1.1(b), as applicable, and (ii) the number of Promote Shares that will become restricted shares and be subject to the vesting and forfeiture provisions set forth in Section 1.2(d).

 Section 1.13 Board Nomination Right. After the Closing and through Acquiror’s first annual meeting of stockholders, the
Acquiror Board shall nominate, and shall use its reasonable best efforts to have re-elected or appointed, to the Acquiror Board at least one of those individuals identified in Items 3 and 4 in
Section 8.6(a) of the Company Disclosure Letter who serves as a director of Acquiror immediately following the Closing. 

  
 8 

 ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

Section 2.1 Representations and Warranties of the Sponsor. The Sponsor (and, solely with respect to
Section 2.1(f), each Sponsor Principal) represents and warrants to Acquiror and the Company (solely with respect to itself, himself or herself and not, in the case of the Sponsor, with respect to any Sponsor Principal or,
in the case of any Sponsor Principal, with respect to any other Sponsor Principal) as follows: 
 (a) Organization; Due
Authorization. The Sponsor is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated hereby are within the Sponsor’s corporate or other organizational powers and have been duly authorized by all necessary corporate or other organizational actions on the part of the Sponsor.
This Agreement has been duly executed and delivered by the Sponsor and, assuming due authorization, execution and delivery by the other Parties, this Agreement constitutes a legally valid and binding obligation of the Sponsor, enforceable against
the Sponsor in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance and
other equitable remedies). 
 (b) Ownership. As of the date hereof, the Sponsor is the sole holder of record and beneficial owner
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of, and has good title to, the number of the Acquiror Shares and the number of Acquiror Warrants set forth opposite the Sponsor’s name
in the columns titled “Acquiror Shares” and “Acquiror Warrants,” respectively, in Schedule II hereto (such Acquiror Shares and such Acquiror Warrants, collectively, the Sponsor’s “Owned Securities”),
and there exists no Lien or any other limitation or restriction affecting any of such Owned Securities (including any restriction on the right to vote, sell or otherwise dispose of any of such Owned Securities), other than pursuant to (i) this
Agreement, (ii) Acquiror’s Governing Documents, (iii) the Merger Agreement, (iv) the Insider Letter or (v) applicable securities Laws. As of the date hereof, the Sponsor does not own of record or beneficially (or have any
right, option or warrant to acquire) any Equity Security of Acquiror (or any indebtedness convertible into or exercisable or exchangeable for any Equity Security of Acquiror) or any interest therein, other than the Sponsor’s Owned Securities.
Except pursuant to this Agreement, the Sponsor’s Owned Securities are not subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Owned Securities. 

(c) No Conflicts. The execution and delivery of this Agreement by the Sponsor does not, and the performance by the Sponsor of its
obligations hereunder will not, (i) conflict with or result in a violation of the Governing Documents of the Sponsor or (ii) require any consent, waiver or approval that has not been given or other action that has not been taken by any
Person (including under any Contract binding upon the Sponsor or the Sponsor’s Covered Securities), the absence of which consent, waiver or approval, or omission of which action, would prevent, enjoin or materially delay the performance by the
Sponsor of its obligations under this Agreement. 
 (d) Litigation. There is no Action pending against the Sponsor or, to the
knowledge of the Sponsor, threatened against the Sponsor that challenges all or any part of this Agreement or any of the transactions contemplated hereby, or that seeks to, or would reasonably be expected to, prevent, enjoin or materially delay the
performance by the Sponsor of its obligations under this Agreement. 
 (e) Brokerage Fees. Except as disclosed in Section 6.14
of the Acquiror Disclosure Letter, no financial advisor, investment banker, broker, finder or other similar intermediary is entitled to any fee or commission in connection with the Merger Agreement, this Agreement or any other Ancillary Agreement,
or any of the transactions contemplated hereby or thereby, in each case, based upon any agreement or arrangement made by, or, to the knowledge of the Sponsor, on behalf of, the Sponsor for which Acquiror, the Company or any of the Company’s
Subsidiaries would have any obligation. 
 (f) Affiliate Arrangements. Except as disclosed in the prospectus, dated
February 23, 2021, filed in connection with the Acquiror’s initial public offering, neither the Sponsor or Sponsor Principal nor any of its Affiliates or any member of its immediate family (i) is party to, or has any rights with
respect to or arising from, any material Contract with Acquiror or any of its Subsidiaries or (ii) 

  
 9 

 
is (or will be) entitled to receive from Acquiror, the Company or any of their respective Subsidiaries any finder’s fee, reimbursement, consulting fee, monies or consideration in the form of
equity 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 Acquiror’s initial Business Combination (regardless of the type or form of such
transaction, but including, for the avoidance of doubt, the Merger). 
 (g) Acknowledgment. The Sponsor has read this Agreement and
has had the opportunity to consult with its tax, legal and other advisors regarding this Agreement and the transactions contemplated hereby. The Sponsor understands and acknowledges that the Company’s willingness to enter into the Merger
Agreement was conditioned upon and materially induced by the Sponsor’s execution and delivery of this Agreement and performance of its obligations hereunder. 

ARTICLE III 

MISCELLANEOUS 

Section 3.1 Definitions. 

(a) Capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger
Agreement. 
 (b) As used in this Agreement, the following terms shall have the following meanings: 

“Acquiror” has the meaning set forth in the preamble hereto. 

“Acquiror Share Redemption Basket” means an amount equal to the greater of (i) 50% of the PIPE
Investment Amount and (ii) $250 million. 
 “Agreement” as the meaning set forth in the preamble
hereto. 
 “Ancillary Investment” means any investment in the Equity Securities of Acquiror or the Company
that has been approved in writing by each of Acquiror and the Company and for which a cash purchase price is paid (or remitted by Acquiror) to the Company during the Interim Period or substantially concurrently at the Closing; provided that
none of the following shall be an “Ancillary Investment”: (i) any investment in PIPE Shares pursuant to a Subscription Agreement entered into on or before the date of this Agreement, (ii) any acquisition of Equity Securities of
Acquiror or the Company by any Person from any holder (other than Acquiror or the Company) of Equity Securities of Acquiror or the Company (including any redemption or purchase of Equity Securities of Acquiror or the Company by Acquiror, the Company
or any of their respective Subsidiaries), (iii) any acquisition of Company Common Shares pursuant to the vesting, exercise or settlement of any Equity Security of the Company or any of its Subsidiaries or (iv) any investment or transaction
disclosed in Section 7.1 of the Company Disclosure Letter. 
 “Base
Earn-out Promote Shares” means a number of Promote Shares equal to the product of (i) the total number of Promote Shares multiplied by (ii) 0.30. 

“Base Upfront Promote Shares” means a number of Promote Shares equal to the product of (i) the
total number of Promote Shares multiplied by (ii) 0.70. 
 “Company” has the meaning set forth in the
preamble hereto. 

  
 10 

 “Covered Securities” means (i) all of the
Sponsor’s Owned Securities and (ii) all other Equity Securities of Acquiror of which the Sponsor acquires beneficial ownership (whether pursuant to any Equity Adjustment or otherwise), after the date hereof but before the Closing. 

“Earn-out Promote Shares” means a number of Promote Shares equal to
the greater of (i) zero and (ii) the sum of (A) the difference of (x) the total number of Base Earn-out Promote Shares minus (y) the total number of
Remaining Restructured Promote Shares, plus (B) the product of (x) the total number of Restructured Promote Shares multiplied by (y) 0.25. 

“Forfeited Private Placement Warrants” means a number of Private Placement Warrants equal to the product of
(i) the total number of Private Placement Warrants multiplied by (ii) 0.10. 
 “Forfeited
Promote Shares” means a number of Promote Shares equal to the product of (i) the total number of Restructured Promote Shares multiplied by (ii) 0.75. 

“immediate family” has the meaning ascribed to such term in Rule 16a-1
promulgated under the Exchange Act. 
 “Merger Agreement” has the meaning set forth in the recitals hereto.

 “Net Acquiror Share Redemption Amount” means an amount equal to the difference of (i) the
Acquiror Share Redemption Amount minus (ii) the Net Ancillary Investment Amount. 
 “Net Ancillary
Investment Amount” means an amount, calculated as of the Closing, equal to the difference of (i) the aggregate amount of cash actually received by Acquiror, the Company or any Subsidiary of the Company pursuant to all of the
Ancillary Investments minus (ii) the aggregate amount of all fees, costs and expenses (including fees and disbursements of financial advisors, attorneys, accountants and other advisors and service providers) paid or payable by Acquiror,
the Company or any of their respective Subsidiaries in connection with such Ancillary Investments (including any amounts paid or payable by a Person other than Acquiror, the Company or any of their respective Subsidiaries that Acquiror, the Company
or any of their respective Subsidiaries has paid or reimbursed or is obligated to pay or reimburse). 
 “Net Trust
Account Balance” means an amount equal to the difference of (i) the amount of cash available in the Trust Account as of the Closing, without any deduction in respect of Acquiror Transaction Expenses, Company Transaction Expenses
or the Acquiror Share Redemption Amount, and excluding any amount received in connection with the PIPE Investment, minus (ii) the aggregate amount of Acquiror Transaction Expenses. 

“Owned Securities” has the meaning set forth in Section 2.1(b). 

“Private Placement Warrants” means 19,250,000 Acquiror Private Placement Warrants or any other Acquiror Shares
into which such Acquiror Private Placement Warrants are converted or for which such Acquiror Private Placement Warrants are exercised or exchanged (including by reason of any Equity Adjustment). 

“Promote Shares” means 42,975,000 Acquiror Cayman Class B Shares or any other Equity Securities of
Acquiror into which such Acquiror Cayman Class B Shares are converted or for which such Acquiror Cayman Class B Shares are exercised or exchanged (including by reason of any Equity Adjustment). 

  
 11 

 “Remaining Restructured Promote Shares” means a number of
Restructured Promote Shares equal to the greater of (i) zero and (ii) the difference of (A) the total number of Restructured Promote Shares minus (B) the total number of Base Upfront Promote Shares.

 “Restructured Promote Shares” means a number of Promote Shares equal to the product of
(i) the total number of Promote Shares multiplied by (ii) the Restructuring Multiplier. 

“Restructuring Multiplier” means (i) if (and only if) the Net Acquiror Share Redemption Amount is greater
than the Acquiror Share Redemption Basket, then a value, expressed as a percentage, equal to the quotient of (A) the Net Acquiror Share Redemption Amount divided by (B) the sum of (x) the Net Trust Account Balance
plus (y) the PIPE Investment Amount and (ii) if (and only if) the Net Acquiror Share Redemption Amount is less than or equal to than the Acquiror Share Redemption Basket, then zero. 

“Sponsor” has the meaning set forth in the preamble. 

“Transfer” means, with respect to any share of capital stock of Acquiror, (i) any sale, assignment,
exchange, conveyance, pledge, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether direct or indirect, whether or not for value, and whether or not by operation of law (including by
merger, consolidation or otherwise), including, without limitation, any transfer of such share to a broker or other nominee (with or without a corresponding change in beneficial ownership) and any transfer of voting control of such share, or
(ii) entering into any agreement or binding arrangement (including any offer, pledge, warrant, option, hedge, swap, other derivative transaction or proxy) providing for any transaction contemplated by the preceding clause (i); provided,
however, that, after the Closing, none of the following shall be considered a “Transfer”: (A) any grant of a proxy with respect to the voting of such share to officers or directors of the Corporation at the request of the Board in
connection with actions to be taken at an annual or special meeting of stockholders; (B) entering into a support, voting, tender or similar agreement, arrangement or understanding with respect to such share (with or without granting a proxy
and/or other customary terms) in support of an Extraordinary Transaction that is approved by a majority of the directors of the Corporation then in office who qualify as “independent” in accordance with the requirements of the securities
exchange on which equity securities of the Corporation are then listed for trading, or consummating the actions or transactions contemplated thereby (including, without limitation, voting, tendering, selling, exchanging or otherwise transferring or
disposing of such share or any legal or beneficial interest therein in connection with such Extraordinary Transaction); (C) any pledge of such share that creates a security interest in such share pursuant to a bona fide loan or indebtedness
transaction for so long as the holder of such share immediately prior to such pledge continues to exercise exclusive voting control with respect to such share (provided, however, that the pledgee’s foreclosure on such share or
other similar action shall not be excluded from the definition of “Transfer”); (D) entering into a trading plan with respect to such share pursuant to Rule 10b5-1 under the Exchange Act that has been
approved by a majority of the directors of the Corporation then in office who qualify as “independent” in accordance with the requirements of the securities exchange on which equity securities of the Corporation are then listed for trading
(provided, however, that the sale or other disposition of such share pursuant to such plan shall not be excluded from the definition of “Transfer”); (E) any redemption, repurchase or other acquisition by, or surrender,
transfer or forfeiture to, Acquiror of such share; (F) the fact that the spouse of any holder of such share possesses or obtains an interest in such share arising solely by reason of the application of the community property laws of any
jurisdiction, so long as no other event or circumstance shall exist or have occurred that constitutes a Transfer of such share (provided that any transfer of such share by any holder of such share to such holder’s spouse, including a
transfer in connection with a divorce proceeding, domestic relations order or similar legal requirement, shall constitute a Transfer of such share unless otherwise exempt from the 

  
 12 

 
definition of “Transfer”); or (G) entering into any voting trust or other agreement or arrangement with respect to the voting of such share (with or without granting a proxy)
solely with holders of Class B Common Stock in their capacities as such that (1) is disclosed either in a Schedule 13D filed with the Securities and Exchange Commission or in writing to the secretary of the Corporation, (2) either has
a term not exceeding one year or is terminable by the holder of such share at any time and (3) does not involve any payment of cash, securities or other property or other consideration to the holders of the shares subject thereto, other than
the mutual promise to vote shares in a designated manner. 
 “Upfront Promote Shares” means a number of
Promote Shares equal to the greater of (i) zero and (ii) the difference of (A) the total number of Base Upfront Promote Shares minus (B) the total number of Restructured Promote Shares. 

Section 3.2 Construction. This Agreement and all of its provisions shall be interpreted in accordance with Section 1.2 of the
Merger Agreement, the provisions of which are incorporated herein by reference as if set forth herein, mutatis mutandis. 

Section 3.3 Termination. This Agreement and all of its provisions shall automatically terminate and be of no further force or
effect (a) upon the termination of the Merger Agreement in accordance with its terms or (b) as mutually agreed in writing by the Parties in accordance with Section 3.5. Upon any valid termination of this
Agreement, all obligations of the Parties hereunder shall terminate, without any Liability or other obligation on the part of any Party to any Person in respect of this Agreement or the transactions contemplated hereby, and no Person shall have any
claim or right against any Party, whether in contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement shall not relieve any Party from any Liability arising in
respect of any breach of this Agreement prior to such termination. This Article III shall survive the termination of this Sponsor Agreement. 

Section 3.4 Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the
Parties and their respective heirs, successors and permitted assigns. No Party may assign or delegate all or any part of this Agreement or any of the rights, benefits, obligations or Liabilities hereunder (including by operation of Law) without the
prior written consent of the other Parties. 
 Section 3.5 Amendment. Subject to Section 3.3, this
Agreement may not be amended, restated, supplemented or otherwise modified, except upon the execution and delivery of a written agreement providing therefor by Acquiror, the Company, the Sponsor and any other Person to which any Acquiror Share or
Acquiror Warrant has been Transferred in accordance with Section 1.3 and Section 1.4. 

Section 3.6 Waiver. No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Parties hereunder are cumulative and are not
exclusive of any rights or remedies otherwise available to the Parties. No waiver of any right, power or privilege hereunder shall be valid unless it is set forth in a written instrument executed and delivered by the Party to be charged with such
waiver. 
 Section 3.7 No Third-Party Beneficiaries. Nothing expressed or implied in this Agreement is intended or shall be
construed to confer upon or give any Person, other than the Parties and their respective heirs, successors and permitted assigns, any right or remedy under or by reason of this Agreement. 

  
 13 

 Section 3.8 Notices. All notices and other communications under this Agreement
between the Parties shall be in writing and shall be deemed to have been duly given, delivered and received (a) when delivered in person, (b) when delivered after posting in the U.S. mail, having been sent registered or certified mail,
return receipt requested, postage prepaid, (c) when delivered by FedEx or another nationally recognized overnight delivery service or (d) when delivered by email during normal business hours (and otherwise as of the next Business Day)
(provided that, if receipt has not been confirmed (excluding any automated reply, such as an out-of-office notification) then a copy shall be dispatched in the
manner described in the preceding clause (c) no later than 24 hours after such delivery by email) (provided that any such notice or other communication delivered in the manner described in any of the preceding clauses (a), (b) and
(c) shall also be delivered by email no later than 24 hours after being dispatched in the manner described in the preceding clause (a), (b) or (c), as applicable), addressed as follows: 

 

			
	If to Acquiror prior to the Merger Effective Time, to:
	
	Soaring Eagle Acquisition Corp. 2121 Avenue of the Stars, Suite 2300
	Los Angeles, CA 90067
	Attn:	  	Eli Baker
	Email:       ebaker@eagleequitypartners.com with a copy (which shall not constitute notice) to:
	
	White & Case LLP
	
	1221 Avenue of the Americas
	New York, NY 10020
	Attn:	  	Joel Rubenstein
		  	James Hu
	Email:	  	joel.rubinstein@whitecase.com
		  	james.hu@whitecase.com
	
	If to Acquiror following the Merger Effective Time or to the Company, to:
	
	 c/o Ginkgo Bioworks, Inc.
 27
Drydock Avenue, 8th Floor

	Boston, MA 02210
	Attn:	  	Chief Executive Officer
		  	General Counsel
	Email:	  	legal@ginkgobioworks.com
	
	with a copy (which shall not constitute notice) to:
	
	 Latham & Watkins LLP
 555
Eleventh Street, N.W.

	Washington, DC 20004
	Attn:	  	Paul F. Sheridan, Jr.
		  	Kristen S. Grannis
	Email:	  	paul.sheridan@lw.com
		  	kristen.grannis@lw.com

  
 14 

			
	If to the Sponsor or a Sponsor Principal, to the email address set forth beneath the Sponsor’s name in Schedule II hereto or beneath such Sponsor Principal’s name in Schedule I hereto, with a copy (which shall
not constitute notice) to:
	
	White & Case LLP
	1221 Avenue of the Americas
	New York, NY 10020
	Attn:	  	Joel Rubenstein
		  	James Hu
	Email:	  	joel.rubinstein@whitecase.com
		  	james.hu@whitecase.com

 Section 3.9 Other Provisions. The provisions set forth in each of sections 12.6
(Governing Law), 12.7 (Counterparts), 12.13 (Severability), 12.14 (Jurisdiction; Waiver of Jury Trial) and 12.15 (Enforcement) of the Merger Agreement are incorporated herein by reference as if set forth herein,
mutatis mutandis. 
 Section 3.10 Entire Agreement. This Agreement and the Merger Agreement constitute the entire
agreement and understanding of the Parties with respect to the subject matter hereof and supersede all prior understandings, agreements and representations by or among the Parties hereto to the extent they relate in any way to the subject matter
hereof. 
 [Remainder of page intentionally left blank.] 

  
 15 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed as of
the date first written above. 
  

			
	SPONSOR:
	
	 EAGLE EQUITY PARTNERS III, LLC

		
	By:	 	/s/ Eli Baker
	 Name: Eli Baker

	 Title:   Managing Member

 [Signature Page of Sponsor Letter Agreement] 

 
			
	SPONSOR PRINCIPALS (solely with respect to Section 1.6(c), Section 1.10, Section 2.1(f) and Article III):
	
	 /s/ Harry E. Sloan

	Name: Harry E. Sloan
	
	 /s/ Eli Baker

	Name: Eli Baker

 [Signature Page of Sponsor Letter Agreement] 

 
			
	ACQUIROR:
	
	 SOARING EAGLE ACQUISITION CORP.

		
	By:	 	/s/ Harry E. Sloan
	 Name:
	 	 Harry E. Sloan

	 Title:
	 	 Chief Executive Officer

 [Signature Page of Sponsor Letter Agreement] 

 
			
	COMPANY:
	
	 GINKGO BIOWORKS, INC.

		
	By:	 	/s/ Jason Kelly
	 Name:
	 	 Jason Kelly

	 Title:
	 	 Chief Executive Officer

 [Signature Page of Sponsor Letter Agreement] 

 Schedule I 

Sponsor Principals 
  

	1.	 Harry E. Sloan 

hsloan@eagleequityptnrs.com 
  

	2.	 Eli Baker 

ebaker@eagleequityptnrs.com 

[Schedule I of Sponsor Support Agreement] 

 Schedule II 

Promote Shares and Private Placement Warrants 
  

																	
	 Holder
	  	Acquiror
Shares	 	  	Acquiror
Warrants	 	  	Promote
Shares	 	  	Private
Placement
Warrants	 
	 Eagle Equity Partners III, LLC ebaker@eagleequityptnrs.com
	  	 	43,125,000	 	  	 	19,250,000	 	  	 	42,975,000	 	  	 	19,250,000	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total:
	  	 	43,125,000	 	  	 	19,250,000	 	  	 	42,975,000	 	  	 	19,250,000	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 [Schedule II of Sponsor Support Agreement]

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