Document:

EX-10.16

 Exhibit 10.16 

NINTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

THIS NINTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this “Agreement”) is made and entered into as of December 27,
2019 by and among: 
 (1)    Kingsoft Cloud Holdings Limited (the “Company”), a limited liability
company organized under the laws of the Cayman Islands; 
 (2)    the entities listed on Schedule A attached
hereto (the “Major Subsidiaries”, and each, a “Major Subsidiary”); 
 (3)    Kingsoft
Corporation Limited (“Kingsoft”), a limited liability company organized under the laws of the Cayman Islands; 

(4)    Autogold Limited (the “Officer Holdco”), a limited liability company organized under the laws of
the British Virgin Islands; 
 (5)    River Jade Holdings Limited (“River Jade”), a limited liability
company organized under the laws of the British Virgin Islands; 
 (6)    Mr. ZHANG Hongjiang (张宏江), a citizen of Singapore with passport number of *; 

(7)    Mr. WANG Yulin (王育林), a citizen of the PRC with ID card number of * (the “Officer”); 

(8)    TMF Trust (HK) Limited (“TMF”), a limited liability company organized under the laws of Hong Kong;

 (9)    Xiaomi Corporation (“Xiaomi”, together with Kingsoft, the “Series A Preferred
Holders”), a limited liability company organized under the laws of Cayman Islands; 
 (10)    Celestial Power
Limited, a company limited by shares incorporated under the laws of the British Virgin Islands (the “IDG Investor”, together with Kingsoft, the “Series B Preferred Holders”); 

(11)    ChinaAMC Special Investment Limited, a company incorporated under the laws of the British Virgin Islands (the
“AMC Investor”); 
 (12)    Buddies Team Limited, a company incorporated and existing under the laws of
the British Virgin Islands (the “CM Investor”); 
 (13)    FUTUREX INNOVATION SPC - Special Opportunity
Fund VI SP, a company incorporated and existing under the laws of the Cayman Islands (“FutureX Capital 1”; Future X Capital 1, the CM Investor, the AMC Investor, the IDG Investor and Kingsoft collectively are referred to as the
“Series C Preferred Holders”); 
 (14)    METAWIT CAPITAL L.P. (元慧资本有限合伙), an exempted limited partnership registered and existing under the laws of
the Cayman Islands (the “Metawit Investor”); 

 (15)    New Cloud Ltd., a business company incorporated and existing
under the laws of the British Virgin Islands (the “Minsheng Investor”); 
 (16)    Precious Steed
Limited, a company incorporated and existing under the laws of the British Virgin Islands (the “Forebright Investor”); 

(17)    Shunwei Growth III Limited, a company incorporated and existing under the laws of the British Virgin Islands (the
“Shunwei Investor”); 
 (18)    FutureX AI Opportunity Fund LP (acting through FutureX Innovation
Limited as its general partner), an exempted limited partnership registered and existing under the laws of the Cayman Islands (“FutureX Capital 2”); 

(19)    FutureX Innovation SPC (acting for and on behalf of New Technology Fund I SP as one of its segregated portfolios),
an exempted segregated portfolio company incorporated and existing under the laws of the Cayman Islands (“FutureX Capital 3”); 

(20)    Howater Innovation I Limited Partnership, a limited partnership organized and existing under the laws of the
Cayman Islands (“FutureX Capital 4”, together with FutureX Capital 1, FutureX Capital 2 and FutureX Capital 3, “FutureX Capital”; Kingsoft, the Metawit Investor, the Minsheng Investor, the Forebright Investor, the
Shunwei Investor, FutureX Capital 2, FutureX Capital 3 and FutureX Capital 4 collectively are referred to as the “Series D Preferred Holders”); 

(21)    China Internet Investment Fund.
(中国互联网投资基金(有限合伙)), a limited partnership duly organized and validly
existing under the laws of the PRC (the “CIIF Investor”); and 
 (22)    DESIGN TIME LIMITED, a company
incorporated and existing under the laws of the British Virgin Islands (the “CCBI Investor”, together with the CIIF Investor, the “Series D+ Preferred Holders”). 

The Company, the Major Subsidiaries and subsidiaries of any of the foregoing, either Controlled through contractual commitment or equity
ownership, are collectively referred to as the “Group Companies” and each, a “Group Company”. 

RECITALS 

A.    The Company, the CIIF Investor and certain other parties entered into a series D+ preferred share purchase agreement
on December 2, 2019 (the “Series D+ Share Purchase Agreement I”). 
 B.    The Company, the CCBI
Investor and certain other parties entered into a series D+ preferred share purchase agreement on December 16, 2019 (the “Series D+ Share Purchase Agreement II”, together with the Series D+ Share Purchase Agreement I, the
“Series D+ Share Purchase Agreements”). 
 C.    The parties hereto wish to provide for certain matters
relating to the transfer of equity securities and the management and operation of the Group Companies. 

  
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 D.    The Company, the HK Company, Kingsoft, Xiaomi, the IDG Investor,
the AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor, the Shunwei Investor, the Forebright Investor, FutureX Capital 2, FutureX Capital 3 and certain other parties are parties to the eighth amended and restated shareholders
agreement dated March 29, 2018 (the “Prior Shareholders Agreement”). The parties hereto desire to supersede and replace in its entirety the Prior Shareholders Agreement by entering into this Agreement.  

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto further agree as follows: 
  

	 	1.	 DEFINITION 

1.1    Definitions. In this Agreement, unless the context otherwise requires the following words and expressions
have the following meanings: 
 “Additional Ordinary Shares” shall have the meaning ascribed to it in the Restated
Articles. 
 “Affiliate” of a Person (the “Subject Person”) means (i) in the case of Subject Person
that is a natural person, any other Person that is a spouse or parent, grandparent, child, grandchild, brother or sister or the spouse thereof (collectively, “Immediate Family”) of the Subject Person or is directly or indirectly
Controlled by such Subject Person or member of his/her Immediate Family; and (ii) in the case of a Subject Person other than a natural person, any other Person directly or indirectly Controlling, Controlled by or under common Control with the
Subject Person. 
 “Board” means the board of directors of the Company. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in the New York, Cayman
Islands, the PRC or Hong Kong are required or authorized by law or executive order to be closed. 
 “Closing” shall have
the meaning ascribed to it in the Series D+ Share Purchase Agreements. 
 “Competitor” means any entity which engages in
the business operation that competes with the Principal Business of Group Companies set forth in Exhibit C attached hereof and any of the Affiliates of such entity, which list shall not exceed fifty (50) entities at any time and may be
updated every three months as notified by Kingsoft or the Company to each shareholder of the Company in writing by email, which update shall take effect on the expiry date of the thirty (30)-day period after
the date when such shareholder has received or deemed to have been served with the written notice from Kingsoft or the Company which has been sent out to such shareholder by email pursuant to Section 13.1; provided that (i) no more
than five (5) entities may be replaced or added in any particular update; and (ii) the CIIF Investor shall have the right to propose not to conduct any particular update (the “Veto Proposal”) which shall be voted in a
shareholders meeting convened by the Board only if the requisition by the CIIF Investor to convene such shareholders meeting in respect of the Veto Proposal has been delivered to the Board within ten (10) days upon receipt of the notice given
by Kingsoft or the Company with respect to such update, and such Veto Proposal shall not take effect and shall in no event impose any prejudice to the effectiveness of such update unless approved by the holders of a majority of the issued and
outstanding Ordinary Shares, the holders of at least 66% of the issued and outstanding Series A Preferred Shares, the holders of 66% of the issued and outstanding Series B Preferred Shares, the holders of at least 66% of the issued and outstanding
Series C Preferred Shares and the holders of at least 66% of the issued and outstanding Series D Preferred Shares and the Series D+ Preferred Shares (voting together on an as-converted
basis) in such shareholders meeting; provided further that the shareholders meeting specified in the foregoing clause (ii) shall not be required if the CIIF Investor has not lodged the requisition within the said ten
(10)-day period.  

  
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 “Control” of a given Person means the power or authority, whether exercised
or not, to direct or cause the direction of the business, management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, which power or authority shall conclusively be
presumed to exist upon possession of beneficial ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the appointment of
a majority of the board of directors of such Person; the terms “Controlling” and “Controlled” have meanings correlative to the foregoing. 

“Conversion Price of Series A Preferred Shares” shall have the meaning ascribed to it in the Restated Articles. 

“Conversion Price of Series B Preferred Shares” shall have the meaning ascribed to it in the Restated Articles. 

“Conversion Price of Series C Preferred Shares” shall have the meaning ascribed to it in the Restated Articles. 

“Conversion Price of Series D Preferred Shares” shall have the meaning ascribed to it in the Restated Articles. 

“Conversion Price of Series D+ Preferred Shares” shall have the meaning ascribed to it in the Restated Articles. 

“Effective Conversion Price” shall have the meaning ascribed to it in the Restated Articles. 

“ESOP” means the Share Award Scheme (as amended), the Share Option Scheme (as amended) and other employee stock incentive
plans of the Company as may be approved in accordance with the Restated Articles and this Agreement and adopted by the Company from time to time, under which Shares of the Company have been or shall be issued and reserved for issuance to employees,
officers, directors, contractors, advisors or consultants of the Group Companies. 
 “Independent Valuer” means a Qualified
Investment Bank or a qualified independent valuer. 
 “Hong Kong” means the Hong Kong Special Administrative Region of the
People’s Republic of China. 

  
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 “IPO” means an initial public offering and listing of Ordinary Shares or
ordinary shares of the Listing Vehicle or listing of such shares for public trading on stock exchange in the United States of America or on an internationally or regionally recognized stock exchange in another jurisdiction. 

“Listing Rules” means Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited. 

“Listing Vehicle” means any entity that directly or indirectly owns substantially all of the assets of the Group Companies.

 “Management” means the ultimate beneficial owners of the Management Holdco, as listed in Exhibit A hereto, any
officer that joins the Group Companies after the date hereof who will hold shares directly or indirectly in the Management Holdco as duly approved by the Company, and their permitted transferees and assigns. 

“Management Holdco” means River Jade, any intermediary (ies) through which the Management holds the entire issued and
outstanding share capital of River Jade (if any), and their permitted transferees and assigns. 
 “Management Restricted Share
Agreement” means the second amended and restated restricted share agreement dated October 12, 2015 by and among the Company, Kingsoft, River Jade, the Management and certain other parties thereto, as amended. 

“Minsheng Warrant” means that certain preferred share purchase warrant issued by the Company to the Minsheng Investor on
December 6, 2017, pursuant to which the Minsheng Investor purchased certain number of the Series D Preferred Shares by exercise of the Minsheng Warrant. 

“Officer Restricted Share Agreement” means the restricted share agreement dated February 28, 2015 by and among the
Company, Kingsoft, the Officer Holdco, the Officer and certain other parties thereto. 
 “Ordinary Shares” means the
ordinary shares, par value US$0.001 per share, of the Company, having the rights, preferences, privileges and restrictions as set forth in the Restated Articles. 

“Ordinary Share Equivalents” shall have the meaning ascribed to it in the Restated Articles. 

“Person” means any natural person, firm, company, Governmental Authority, joint venture, partnership, association or other
entity (whether or not having separate legal personality). 
 “PRC” means the People’s Republic of China, which, for
the purpose of this Agreement, excludes Hong Kong, the Macau Special Administrative Region and Taiwan. 

  
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 “Preferred Holders” means Series A Preferred Holders, Series B Preferred
Holders, Series C Preferred Holders, Series D Preferred Holders and Series D+ Preferred Holders, and a “Preferred Holder” mean any of them. 

“Preferred Shares” means the Series A Preferred Shares, the Series B Preferred Shares, the Series C Preferred Shares, the
Series D Preferred Shares and the Series D+ Preferred Shares, each having the rights, preferences, privileges and restrictions as set forth in the Restated Articles. 

“Principal Business of Group Companies” means the business operation of cloud storage and cloud computing or such other
business based on cloud services which represents more than 25% of the total assets or net assets or total revenue of the Group Companies, calculated based on the latest audited consolidated financial statements of the Group Companies. 

“Qualified Investment Bank” means Morgan Stanley, Goldman Sachs Group Inc., UBS, Deutsche Bank, Merrill Lynch, Citi Group or
another reputable international investment bank agreed by Kingsoft, the Company and holders of at least 66% of the then issued and outstanding Series B Preferred Shares. 

“Series B Fair Market Value” of any Series B Preferred Share shall be the fair market value determined in good faith
by an Independent Valuer jointly appointed by the Company, Kingsoft and holders of at least 66% of the then issued and outstanding Series B Preferred Shares. The Independent Valuer shall determine the fair market value based on the following
assumptions: 
 (a)    such Series B Preferred Share is sold in an arms-length transaction on the open market between a
willing buyer and a willing seller; 
 (b)    the business of the Group Companies will continue to be operated as a
going concern in the same way as it is then operated and the then existing business and customer relationships of the Group Companies will continue as they are; 

The determination of the Independent Valuer shall, in the absence of manifest error or fraud, be binding upon the parties. 

“Series B Qualified Public Offering” means a firm commitment underwritten public offering of Ordinary Shares of
the Company or the ordinary shares of the Listing Vehicle that directly or indirectly owns substantially all of the assets of the Group Companies on an internationally recognized stock exchange which meets the following requirements: (a) the pre-IPO market value of the Company or the Listing Vehicle (based upon the price at which shares were offered in the Series B Qualified Public Offering) is no less than US$1,512,500,000 or its equivalent in another
currency and (b) such offering results in gross proceeds of more than US$151,250,000, in each case as estimated by a Qualified Investment Bank by applying either the mean of the valuation range obtained after the valuation or the average of the
means of various valuation ranges obtained from different valuation methodologies. The term “gross proceeds” used herein means the total amount raised from an initial public offering prior to paying any expenses including without
limitation to underwriters’ discounts, legal expense, auditors’ fees and similar third party expenses. 

  
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 “Restated Articles” means the Seventeenth Amended and Restated Memorandum
and Articles of Association of the Company, as amended and restated from time to time. 
 “Restructuring Documents” means a
series of documents, according to which the Company is able to establish effective Control over, and consolidate the financial results of, the Domestic Enterprise 1 through the PRC Subsidiary 1 and the Domestic Enterprise 2 through the PRC
Subsidiary 2, as amended. 
 “Series A Preferred Shares” means the series A preferred convertible shares, par value
US$0.001 per share, of the Company. 
 “Series B Preferred Shares” means the series B preferred convertible shares, par
value US$0.001 per share, of the Company. 
 “Series C Preferred Shares” means the series C preferred convertible shares,
par value US$0.001 per share, of the Company. 
 “Series C Qualified Public Offering” means the public offering of Ordinary
Shares of the Company or the ordinary shares of the Listing Vehicle that directly or indirectly owns substantially all of the assets of the Group Companies on an internationally recognized stock exchange which meets the following requirements:
(a) the pre-IPO market value of the Company or the Listing Vehicle (based upon the price at which shares were offered in the Series C Qualified Public Offering) is no less than US$2,000,000,000 or its
equivalent in another currency and (b) such offering results in gross proceeds of no less than US$200,000,000. The term “gross proceeds” used herein means the total amount raised from an initial public offering prior to paying
any expenses including without limitation to underwriters’ discounts, legal expense, auditors’ fees and similar third party expenses. 

“Series D Preferred Shares” means the series D preferred convertible shares, par value US$0.001 per share, of the Company.

 “Series D Qualified Public Offering” means the public offering of Ordinary Shares of the Company or the ordinary shares
of the Listing Vehicle that directly or indirectly owns substantially all of the assets of the Group Companies on an internationally recognized stock exchange which meets the following requirements: (a) the
pre-IPO market value of the Company or the Listing Vehicle (based upon the price at which shares were offered in the Series D Qualified Public Offering) is no less than US$3,000,000,000 or its equivalent in
another currency and (b) such offering results in gross proceeds of no less than US$300,000,000. The term “gross proceeds” used herein means the total amount raised from an initial public offering prior to paying any expenses
including without limitation to underwriters’ discounts, legal expense, auditors’ fees and similar third party expenses. 

“Series D+ Preferred Shares” means the series D+ preferred convertible shares, par value US$0.001 per share, of the Company.

 “Shares” means the Ordinary Shares, the Series A Preferred Shares, the Series B Preferred Shares, the Series C Preferred
Shares, the Series D Preferred Shares and the Series D+ Preferred Shares, each having the rights, preferences, privileges and restrictions as set forth in the Restated Articles. 

  
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 “Share Award Scheme” means the share award scheme adopted by the Board on
February 22, 2013, as amended from time to time. 
 “Share Option Scheme” means the share option scheme adopted by the
shareholders of the Company on February 27, 2013, as amended from time to time. 
 “Subsidiary” shall mean, with
respect to a specific entity, (i) any entity (x) more than fifty percent (50%) of whose shares or other interests entitled to vote or (y) more than fifty percent (50%) interest in the profits or capital of such entity are owned or
controlled directly or indirectly by the subject entity or through one or more Subsidiaries of the subject entity, (ii) any entity whose assets, or portions thereof, are consolidated with the net earnings of the subject entity and are recorded
on the books of the subject entity for financial reporting purposes in accordance with the PRC GAAP or the U.S. Generally Accepted Accounting Principles, or (iii) any entity with respect to which the subject entity has the power to otherwise
direct the business and policies of that entity directly or indirectly through another Subsidiary. 
 “Trade Sale” shall
mean (i) a sale, lease, transfer or other disposition of all or substantially all of the assets of the Group Companies; (ii) a transfer or an exclusive licensing of all or substantially all of the intellectual property of the Group
Companies; (iii) a sale, transfer or other disposition of a majority of the issued and outstanding share capital of any Major Group Company or a majority of the voting power of any Major Group Company, through one or a series of related
transactions; or (iv) a merger, consolidation or other business combination of any Major Group Company with or into any other business entity in which the shareholders of the Company immediately after such merger, consolidation or business
combination hold, directly or indirectly, shares representing less than a majority of the voting power of the outstanding share capital of the surviving business entity. A “Major Group Company” shall mean any Group Company, together
with its Subsidiaries on a consolidated basis, owns or generates more than 50% of the total assets or net assets or total revenue of all the Group Companies, calculated based on the latest audited consolidated financial statements of the Group
Companies. For the avoidance of doubt, (i) any pledge or disposal of fixed assets of the Group Companies under financial leases in order to obtain loans from commercial banks or other financial institutions, or (ii) restructuring within,
or transactions among, the Group Companies, shall not constitute a Trade Sale. 
 “Transaction Documents” shall have the
meaning ascribed to it in the Series D+ Share Purchase Agreements, which Transaction Documents may be amended and restated from time to time. 

“Trustee” shall mean TMF Trust (HK) Limited and any additional or replacement trustees, being the trustee or trustees for the
time being of the trusts declared in the trust deed entered into by the Company for the purpose of the ESOP. 

1.2    Terms Defined Elsewhere. The following terms are defined in this Agreement as follows: 

 

			
	“Additional Number”	  	Section 3.4(b)
	“Additional ROFR Shares”	  	Section 4.1(c)(ii)
	“Agreement”	  	Preamble
	“AMC Director”	  	Section 2.1(iii)

  
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	“AMC Investor”	  	Preamble
	“CCBI Investor”	  	Preamble
	“CM Investor”	  	Preamble
	“Company”	  	Preamble
	“Competitive Behaviors”	  	Section 2.12
	“Confidential Information”	  	Section 7.5
	“Disclosing Party”	  	Section 7.4
	“Domestic Enterprise” and “Domestic Enterprises”	  	Schedule A
	“Drag-Along Shareholders”	  	Section 5.1
	“Drag-Along Transaction”	  	Section 5.1
	“Financing Terms”	  	Section 7.1
	“First Offer Allotment”	  	Section 4.2(c)(i)
	“First Offer Expiration Notice”	  	Section 4.2(c)(iii)
	“First Offer Notice”	  	Section 4.2(c)
	“First Offer Period”	  	Section 4.2(c)
	“First Participation Notice”	  	Section 3.4(a)
	“First Refusal Allotment”	  	Section 4.1(c)(i)
	“First Refusal Expiration Notice”	  	Section 4.1(c)(iii)
	“First Refusal Notice”	  	Section 4.1(c)
	“First Refusal Period”	  	Section 4.1(c)
	“Forebright Investor”	  	Preamble
	“FutureX Capital”	  	Preamble
	“FutureX Director”	  	Section 2.1
	“Group Company” and “Group Companies”	  	Preamble
	“HK Company”	  	Schedule A
	“IDG Director”	  	Section 2.1
	“IDG Investor”	  	Preamble
	“IPO Proposal”	  	Section 9.2(a)(ii)
	“Kingsoft”	  	Preamble
	“Metawit Director”	  	Section 2.1
	“Metawit Investor”	  	Preamble
	“Major Subsidiary(ies)”	  	Preamble
	“Minsheng Director”	  	Section 2.1
	“Minsheng Investor”	  	Preamble
	“New Securities”	  	Section 3.3
	“Non-Disclosing Parties”	  	Section 7.4
	“Offered Preferred Shares”	  	Section 4.2(b)
	“Offered Shares”	  	Section 4.1(b)
	“Officer”	  	Preamble
	“Officer Holdco”	  	Preamble
	“Participation Rights Holder”	  	Section 3.1
	“PRC”	  	Preamble
	“PRC GAAP”	  	Section 6.1(a)
	“PRC Subsidiaries”	  	Schedule A
	“Preferred Transfer Notice”	  	Section 4.2(b)

  
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	“Prior Shareholders Agreement”	  	Recitals
	“Pro Rata Share”	  	Section 3.2
	“Remaining ROFR Shares”	  	Section 4.1(c)(ii)
	“Representatives”	  	Section 7.1
	“Right Holder”	  	Sections 4.1(a) and 4.2(a)
	“Right of Participation”	  	Section 3.1
	“Right Participants”	  	Section 3.4(b)
	“ROFR Participating Right Holders”	  	Section 4.1(c)(ii)
	“Second Exercise Notice”	  	Section 4.1(c)(ii)
	“Second Exercise Period”	  	Section 4.1(c)(ii)
	“Second Participation Notice”	  	Section 3.4(b)
	“Second Participation Period”	  	Section 3.4(b)
	“Selling Preferred Shareholder”	  	Section 4.2(b)
	“Selling Shareholder”	  	Section 4.1(b)
	“Series A Preferred Holders”	  	Preamble
	“Series B Preferred Holders”	  	Preamble
	“Series B Redemption Price”	  	Section 9.2(a)(ii)
	“Series C Preferred Holders”	  	Preamble
	“Series C Redemption Price”	  	Section 9.2(b)(iii)
	 “Series D Preferred Holders”

“Series D Redemption Price”
	  	Preamble
 Section 9.2(c)(ii)

	“Series D+ Preferred Holders”	  	Preamble
	“Series D+ Share Purchase Agreement I”	  	Preamble
	“Series D+ Share Purchase Agreement II”	  	Preamble
	“Series D+ Share Purchase Agreements”	  	Recitals
	“Shunwei Investor”	  	Preamble
	“Tag-Along Notice”	  	Section 4.3(a)
	“Tag-Along Participant”	  	Section 4.3(a)
	“Tag-Along Pro Rata Portion”	  	Section 4.3(a)
	“Tag-Along Right Holder”	  	Section 4.3(a)
	“Tag-Along Right Period”	  	Section 4.3(a)
	“Transfer Notice”	  	Section 4.1(b)
	“UNCITRAL Rules”	  	Section 13.13
	“Xiaomi”	  	Preamble
	“Xiaomi Group”	  	Section 12.1

 1.3    Interpretation. 

(a)    Directly or Indirectly. The phrase “directly or indirectly” means directly or indirectly through
one or more intermediate persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning. 

(b)    Gender and Number. Unless the context otherwise requires, all words (whether gender-specific or gender
neutral) shall be deemed to include each of the masculine, feminine and neuter genders, and words importing the singular include the plural and vice versa. 

(c)    Include not Limiting. “Include,” “including,” “are inclusive of” and similar
expressions are not expressions of limitation and shall be construed as if followed by the words “without limitation.” 

(d)    Law. References to “law” shall include all applicable laws, regulations, rules and orders of any
governmental authority, including any common or customary law, constitution, code, ordinance, statute or other legislative measure and any regulation, rule, treaty, order, decree or judgment; and “lawful” shall be construed accordingly.

  
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 (e)    References to Documents. References to this Agreement
include the Schedules and Exhibits, which form an integral part hereof. A reference to any Section, Schedule or Exhibit is, unless otherwise specified, to such Section of, or Schedule or Exhibit to, this Agreement. The words “hereof,”
“hereunder” and “hereto,” and words of like import, refer to this Agreement as a whole and not to any particular Section hereof or Schedule or Exhibit hereto. A reference to any document (including this Agreement) is to that
document as amended, consolidated, supplemented, novated or replaced from time to time. 
 (f)    Share
Calculations. In calculations of share numbers, references to (i) a “fully diluted basis” mean that the calculation is to be made assuming that all outstanding and reserved equity securities convertible into or exercisable
or exchangeable for Ordinary Shares (whether or not by their terms then currently convertible, exercisable or exchangeable), have been so converted, exercised or exchanged, (ii) an “as converted basis” mean that the calculation
is to be made assuming that all Preferred Shares in issue have been converted into Ordinary Shares, and (iii) “issued and outstanding” mean unless otherwise expressly provided in this Agreement the issued and outstanding Shares of
the Company including the Share of the Company held by TMF Trust (HK) Limited and Share issued upon exercise of options granted pursuant to the ESOP. Any reference to a number or price of Ordinary Shares shall be appropriately adjusted to reflect
any share subdivision, share split, share consolidation, share dividend, share reclassification, restructuring, capitalization issuance or similar transaction affecting the share capital of the Company. 

(g)    Time. Except as otherwise provided, for purposes of calculating the length of time from a given day or the
day of a given act or event, the relevant period shall be calculated exclusive of that day. If the day on or by which a payment must be made is not a Business Day, that payment must be made on or by the Business Day immediately following such day.

 (h)    Writing. References to writing include any mode of reproducing words in a legible and non-transitory form. 
 (i)    Language. This Agreement is drawn up in the
English language. If this Agreement is translated into any other language, the English language text shall prevail. 
  

	 	2.	 BOARD REPRESENTATION. 

2.1    Election of Directors. The Restated Articles shall provide that the Board shall consist of up to sixteen
(16) members with the composition of the Board determined as follows, which number of members shall not be changed except pursuant to an amendment to the Restated Articles in compliance with this Agreement: 

(i)    for so long as Xiaomi holds no less than 72,800,000 Ordinary Shares, Xiaomi shall have the right to appoint and
remove one (1) director; 
 (ii)    for so long as IDG Investor holds no less than 58,983,782 Ordinary Shares on an
as-converted basis, IDG Investor shall have the right to appoint and remove one (1) director (the “IDG Director”); 

(iii)    for so long as AMC Investor holds no less than 2% of the total number of Shares of the Company on an as-converted and fully diluted basis, AMC Investor shall have the right to appoint and remove one (1) director (the “AMC Director”), provided however, if AMC Investor holds less than 2%
of the total number of Shares of the Company on an as-converted and fully diluted basis, the AMC Director shall be immediately removed from the Board (for the avoidance of doubt, if the AMC Investor holds no
less than 81,833,838 Ordinary Shares on an as-converted basis, then even if the AMC Investor holds less than 2% of the total number of Shares of the Company on an
as-converted and fully diluted basis, the AMC Director shall not be removed), and the AMC Investor shall not have any right to appoint any director (unless subsequently it holds no less than 2% of the total
number of Shares of the Company on an as-converted and fully diluted basis or the AMC Investor holds no less than 81,833,838 Ordinary Shares on an as-converted basis);

  
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 (iv)    for so long as Minsheng Investor holds no less than 4% of the
total number of Shares of the Company on an as-converted and fully diluted basis, Minsheng Investor shall have the right to appoint and remove one (1) director (the “Minsheng Director”),
provided however, if Minsheng Investor holds less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, the Minsheng Director shall be immediately removed from
the Board (for the avoidance of doubt, if the Minsheng Investor holds no less than 94,276,365 Ordinary Shares on an as-converted basis, then even if the Minsheng Investor holds less than 4% of the total number
of Shares of the Company on an as-converted and fully diluted basis, the Minsheng Director shall not be removed, and the Minsheng Investor shall still have the right to appoint a director), and the Minsheng
Investor shall not have any right to appoint any director (unless subsequently the Minsheng Investor holds no less than 4% of the total number of Shares of the Company on an as-converted and fully diluted
basis or the Minsheng Investor holds no less than 94,276,365 Ordinary Shares on an as-converted basis); 

(v)    for so long as Metawit Investor holds no less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, Metawit Investor shall have the right to appoint and remove one (1) director (the “Metawit Director”), provided however, if Metawit Investor holds
less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, the Metawit Director shall be immediately removed from the Board (for the avoidance of doubt, if the
Metawit Investor holds no less than 94,276,365 Ordinary Shares on an as-converted basis, then even if the Metawit Investor holds less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, the Metawit Director shall not be removed, and the Metawit Investor shall still have the right to appoint a director), and the Metawit Investor shall not have any right to
appoint any director (unless subsequently the Metawit Investor holds no less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis or the Metawit Investor holds no
less than 94,276,365 Ordinary Shares on an as-converted basis); 
 (vi)    for
so long as FutureX Capital holds no less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, FutureX Capital shall have the right to appoint and remove one
(1) director (the “FutureX Director”), provided however, if FutureX Capital holds less than 4% of the total number of Shares of the Company on an as-converted and fully diluted
basis, the FutureX Director shall be immediately removed from the Board (for the avoidance of doubt, if FutureX Capital holds no less than 91,976,964 Ordinary Shares on an as-converted basis, then even if
FutureX Capital holds less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis, the FutureX Director shall not be removed, and FutureX Capital shall still have the
right to appoint a director), and FutureX Capital shall not have any right to appoint any director (unless subsequently FutureX Capital holds no less than 4% of the total number of Shares of the Company on an
as-converted and fully diluted basis or FutureX Capital holds no less than 91,976,964 Ordinary Shares on an as-converted basis); 

  
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 (vii)    for so long as Mr. ZHANG Hongjiang, the Officer Holdco and
the Management Holdco collectively hold no less than 44,030,000 Ordinary Shares (subject to any adjustment made pursuant to share subdivision, combination, consolidation or other event of a similar nature), Mr. ZHANG Hongjiang, the Officer
Holdco and the Management Holdco shall have the right to collectively appoint and remove up to two (2) directors; and 

(viii)    Kingsoft shall have the right to appoint and remove up to eight (8) directors. 

2.2    Voting. Unless otherwise required by applicable laws, any and all of the matters that require the decision
of the Board as mandated by the shareholders of the Company to the Board and/or as provided by the applicable laws shall be approved by the affirmative votes of a simple majority of the directors of the Company present at a duly convened meeting of
the Board. In the case of an equality of votes, whether on a show of hands or on a poll, the chairman of the Board shall be entitled to a second or casting vote. 

2.3    Subsidiaries. Unless otherwise approved by Kingsoft, the composition of the board of directors of each Group
Company other than the Company shall consist of the same persons as those then on the Board. 

2.4    Chairman and Executive Management. The chairman of the Board shall be elected by the Board,
who shall initially be LEI Jun (雷军), and the chief executive officer of the Company shall be elected by the Board, who
shall initially be WANG Yulin (王育林). The Board shall have the authority to appoint members of the senior
management of each Group Company in accordance with Article 103 of the Restated Articles. 
 2.5    IDG
Director. Kingsoft or the Company shall have the right to require IDG Investor to re-designate a person as the IDG Director as soon as practicable but in no event later than 180 days after delivery of such
notice if, in the good faith reasonable opinion of the Board, the incumbent IDG Director (a) engages in business in competition with the business of the Group Companies, (b) is employed by or otherwise provides services to a Competitor, or
(c) directly or indirectly holds equity interest in a Competitor. In such event, such incumbent IDG Director shall, immediately upon the determination of the Board pursuant to this Agreement, cease to have the rights associated with the
director positions of the Group Companies, including the right to participate in board meetings, right to access to information and right to vote at board meetings. 

2.6    AMC Director and AMC Observer. For so long as the AMC Investor holds no less than 1% but less than 2% of the
total number of Shares of the Company on an as-converted and fully diluted basis and the AMC Director has been removed from the Board pursuant to Section 2.1, the AMC Investor will have the right to
delegate one (1) representative acting as an observer to participate in the Board meetings without any voting rights in such Board meetings (the “AMC Observer”) who shall be subject to provisions in Section 6.3 below. Kingsoft
or the Company shall have the right to require AMC Investor to re-designate a person as the AMC Director or AMC Observer as soon as practicable but in no event later than 180 days after delivery of such notice
if, in the good faith reasonable opinion of the Board, the incumbent AMC Director or AMC Observer (a) engages in business in competition with the business of the Group Companies, (b) is employed by or otherwise provides services to a
Competitor, or (c) directly or indirectly holds equity interest in a Competitor. In such event, such incumbent AMC Director or AMC Observer shall, immediately upon the determination of the Board pursuant to this Agreement, cease to have the
rights associated with the director or observer positions of the Group Companies, including the right to participate in board meetings, right to access to information and right to vote at board meetings (where applicable). 

  
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 2.7    Xiaomi Observer. For so long as Xiaomi holds in aggregate
not less than 323,376,000 Series A Preferred Shares on the date hereof, the Company shall invite a representative of Xiaomi to attend all meetings of its Board (and any committees thereof) in a nonvoting observer capacity (the “Xiaomi
Observer”). 
 2.8    Metawit Observer. For so long as the Metawit Investor holds no less than 1% but
less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis and the Metawit Director has been removed from the Board pursuant to Section 2.1, the Metawit Investor
shall have the right to designate one (1) representative acting as an observer to participate in the Board meetings without any voting rights in such Board meetings (the “Metawit Observer”) who shall be subject to provisions in
Section 6.3 below. Kingsoft or the Company shall have the right to require Metawit Investor to re-designate a person as the Metawit Director or Metawit Observer as soon as practicable but in no event
later than 180 days after delivery of such notice if, in the good faith reasonable opinion of the Board, the incumbent Metawit Director or Metawit Observer (a) engages in business in competition with the business of the Group Companies,
(b) is employed by or otherwise provides services to a Competitor, or (c) directly or indirectly holds equity interest in a Competitor. In such event, such incumbent Metawit Director or Metawit Observer shall, immediately upon the
determination of the Board pursuant to this Agreement, cease to have the rights associated with the director and/or observer positions of the Group Companies, including the right to participate in board meetings, right to access to information and
right to vote at board meetings (where applicable). 
 2.9    Minsheng Observer. For so long as the Minsheng
Investor holds no less than 1% but less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis and the Minsheng Director has been removed from the Board pursuant to
Section 2.1, the Minsheng Investor shall have the right to designate one (1) representative acting as an observer to participate in the Board meetings without any voting rights in such Board meetings (the “Minsheng
Observer”) who shall be subject to provisions in Section 6.3 below. Kingsoft or the Company shall have the right to require the Minsheng Investor to re-designate a person as the Minsheng Director
or Minsheng Observer as soon as practicable but in no event later than 180 days after delivery of such notice if, in the good faith reasonable opinion of the Board, the incumbent Minsheng Director or Minsheng Observer (a) engages in business in
competition with the business of the Group Companies, (b) is employed by or otherwise provides services to a Competitor, or (c) directly or indirectly holds equity interest in a Competitor. In such event, such incumbent Minsheng Director
or Minsheng Observer shall, immediately upon the determination of the Board pursuant to this Agreement, cease to have the rights associated with the director and/or observer positions of the Group Companies, including the right to participate in
board meetings, right to access to information and right to vote at board meetings (where applicable). 

2.10    Forebright Observer. For so long as the Forebright Investor holds no less than 1% of the total number of
Shares of the Company on an as-converted and fully diluted basis, the Forebright Investor shall have the right to designate one (1) representative acting as an observer to participate in the Board
meetings without any voting rights in such Board meetings (the “Forebright Observer”) who shall be subject to provisions in Section 6.3 below. Kingsoft or the Company shall have the right to require the Forebright Investor to re-designate a person as the Forebright Observer as soon as practicable but in no event later than 180 days after delivery of such notice if, in the good faith reasonable opinion of the Board, such Forebright
Observer (a) engages in business in competition with the business of the Group Companies, (b) is employed by or otherwise provides services to a Competitor, or (c) directly or indirectly holds equity interest in a Competitor. In such
event, such Forebright Observer shall, immediately upon the determination of the Board pursuant to this Agreement, cease to have the rights associated with the observer position of the Group Companies, including the right to participate in board
meetings and the right to access to information. 

  
 14 

 2.11    FutureX Director and FutureX Observer. For so long as
FutureX Capital holds no less than 1% but less than 4% of the total number of Shares of the Company on an as-converted and fully diluted basis and the FutureX Director has been removed from the Board pursuant
to Section 2.1, FutureX Capital shall have the right to designate one (1) representative acting as an observer to participate in the Board meetings without any voting rights in such Board meetings (the “FutureX Observer”)
who shall be subject to provisions in Section 6.3 below. Kingsoft or the Company shall have the right to require FutureX Capital to re-designate a person as the FutureX Director or FutureX Observer as
soon as practicable but in no event later than 180 days after delivery of such notice if, in the good faith reasonable opinion of the Board, the incumbent FutureX Director or FutureX Observer (a) engages in business in competition with the
business of the Group Companies, (b) is employed by or otherwise provides services to a Competitor, or (c) directly or indirectly holds equity interest in a Competitor. In such event, such incumbent FutureX Director or FutureX Observer
shall, immediately upon the determination of the Board pursuant to this Agreement, cease to have the rights associated with the director and/or observer positions of the Group Companies, including the right to participate in board meetings, right to
access to information and right to vote at board meetings (where applicable). 
 2.12    CIIF Observer.
For so long as the CIIF Investor holds no less than 0.5% of the total number of Shares of the Company on an as-converted and fully diluted basis, the CIIF Investor shall have the right to designate one
(1) representative acting as an observer to participate in the Board meetings without any voting rights in such Board meetings (the “CIIF Observer”; together with the Xiaomi Observer, the AMC Observer, the Metawit Observer, the
Minsheng Observer, the Forebright Observer and the FutureX Observer, the “Observers”, and each, an “Observer”) who shall be subject to provisions in Section 6.3 below. If, in the good faith reasonable opinion
of the Board, the CIIF Observer (a) engages in business in competition with the business of the Group Companies, (b) is employed by or otherwise provides services to a Competitor, or (c) directly or indirectly holds equity interest in
a Competitor (collectively referred to as the “Competitive Behaviors”), Kingsoft or the Company shall give the CIIF Investor written notice, describing the Competitive Behaviors conducted by such CIIF Observer. If the CIIF Investor
does not provide any reasonable evidence to Kingsoft or the Company to prove that there is no Competitive Behavior of such CIIF Observer within ten (10) days from the date of receipt of such written notice, such CIIF Observer shall cease to
have the rights associated with the observer position of the Group Companies, including the right to participate in board meetings and the right to access to information from the date of expiration of such ten
(10)-day period and the CIIF Investor shall re-designate a person as the CIIF Observer as soon as practicable but in no event later than 180 days after receipt of such
written notice. 

  
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	 	3.	 RIGHT OF PARTICIPATION. 

3.1    General. The holders of Shares (except for the Shares issued pursuant to the ESOP) and their respective
permitted transferees (each a “Participation Rights Holder”) shall have the right of first refusal to purchase such Participation Rights Holder’s Pro Rata Share of all (or any part) of any New Securities that the Company may
from time to time issue after the date hereof and pursuant to this Agreement (the “Right of Participation”). 

3.2    Pro Rata Share. A Participation Rights Holder’s “Pro Rata Share” for purposes of the
Right of Participation is the ratio of (a) the number of Shares held by such Participation Rights Holder on an as-converted basis (excluding the Shares issued pursuant to the ESOP), to (b) the total
number of Shares of the Company issued and outstanding immediately prior to the issuance of New Securities giving rise to the Right of Participation on an as-converted basis (excluding the Shares issued
pursuant to the ESOP). 
 3.3    New Securities. “New Securities” shall mean any Shares and any
other voting shares of the Company, whether now authorized or not, and rights, options or warrants to purchase such Shares and securities of any type whatsoever that are, or may become, convertible or exchangeable into such Shares or other voting
shares, provided, however, that the term “New Securities” shall not include: 
 (a)    up to
425,126,304 Ordinary Shares (and/or options, warrants or restricted shares therefor) issued or to be issued to employees, officers, directors, contractors, advisors or consultants of the Group Companies pursuant to the ESOP duly approved pursuant to
this Agreement and the Restated Articles; 
 (b)    after completion of any repurchase of restricted shares pursuant to
the Officer Restricted Share Agreement or the Management Restricted Share Agreement, such number of additional Ordinary Shares (and/or options or warrants therefor) equal to the number of restricted shares and shares being repurchased by the Company
or its designated person and to be allocated under the ESOP duly approved pursuant to this Agreement and the Restated Articles; 

(c)    any Ordinary Shares, options, warrants or restricted shares issued under the ESOP duly approved pursuant to this
Agreement and the Restated Articles; 
 (d)    any Ordinary Shares issued upon the conversion of any Preferred Shares
issued and outstanding as of the date hereof; 
 (e)    any Series D+ Preferred Shares issued under the Series D+ Share
Purchase Agreements; 
 (f)    any securities issued in connection with any share split, share dividend or other similar
event in which all Participation Rights Holders are entitled to participate on a pro rata basis; 
 (g)    any
securities issued upon the exercise, conversion or exchange of any outstanding security if such outstanding security constituted a New Security that is issued pursuant to Section 3.1; 

  
 16 

 (h)    any securities issued pursuant to an IPO, provided that such IPO
has been approved pursuant to this Agreement and the Restated Articles; or 
 (i)    any securities issued pursuant to
the acquisition of another corporation or entity by the Company by consolidation, merger, purchase of assets, or other reorganization in which the Company acquires, in a single transaction or series of related transactions, all or substantially all
assets of such other corporation or entity or fifty percent (50%) or more of the equity ownership or voting power of such other corporation or entity, provided that such acquisition has been approved pursuant to this Agreement and the Restated
Articles. 
 3.4    Procedures.  

(a)    First Participation Notice. In the event that the Company proposes to undertake any issuance of New
Securities (in a single transaction or a series of related transactions), it shall give to each Participation Rights Holder written notice of its intention to issue New Securities (the “First Participation Notice”), describing the
amount and the type of New Securities and the price and the general terms upon which the Company proposes to issue such New Securities. Each Participation Rights Holder shall have thirty (30) days from the date of receipt of any such First
Participation Notice to agree in writing to purchase such Participation Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the First Participation Notice by giving written notice
to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Participation Rights Holder’s Pro Rata Share). If any Participation Rights Holder fails to so agree in writing within such thirty (30)-day period to purchase such Participation Rights Holder’s full Pro Rata Share of an offering of New Securities, then such Participation Rights Holder shall forfeit the right hereunder to purchase that part
of its Pro Rata Share of such New Securities that it did not agree to purchase. 
 (b)    Second Participation
Notice; Oversubscription. If any Participation Rights Holder fails to exercise its Right of Participation in accordance with subsection (a) above, the Company shall promptly give notice (the “Second Participation Notice”)
to other Participation Rights Holders who have fully exercised their Right of Participation (the “Right Participants”) in accordance with subsection (a) above. Each Right Participant shall have five (5) Business Days from
the date of the Second Participation Notice (the “Second Participation Period”) to notify the Company of its desire to purchase more than its Pro Rata Share of the New Securities, stating the number of the additional New Securities
it proposes to buy (the “Additional Number”). Such notice may be made by telephone if confirmed in writing within two (2) Business Days. If, as a result thereof, such oversubscription exceeds the total number of the remaining
New Securities available for purchase, each oversubscribing Right Participant will be cut back by the Company with respect to its oversubscription to that number of remaining New Securities equal to the lesser of (x) the Additional Number and
(y) the product obtained by multiplying (i) the number of the remaining New Securities available for subscription by (ii) a fraction the numerator of which is the number of Shares held by such oversubscribing Right Participant on an as-converted basis (excluding the Shares issued pursuant to the ESOP) and the denominator of which is the total number of Shares held by all the oversubscribing Right Participants on an as-converted basis (excluding the Shares issued pursuant to the ESOP). Each Right Participant shall be obligated to buy such number of New Securities as determined by the Company pursuant to this Section 3.4
and the Company shall so notify the Right Participants within fifteen (15) Business Days following the date of the Second Participation Notice. 

  
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 3.5    Failure to Exercise. Upon the expiration of the Second
Participation Period, or in the event that no Participation Rights Holder has fully exercised the Right of Participation within thirty (30) days of the First Participation Notice, the Company shall have one hundred and eighty (180) days
thereafter to sell the New Securities described in the First Participation Notice (with respect to which the Right of Participation hereunder were not exercised) at the same or higher price and upon non-price
terms not materially more favorable to the purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such one hundred and eighty (180) day period, then
the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the Participation Rights Holders pursuant to this Section 3. 

3.6    Term. The provisions of this Section 3 shall terminate upon the earlier of the completion of an IPO or
the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 
  

	 	4.	 TRANSFER RESTRICTIONS. 

4.1    Right of First Refusal – Transfer of Ordinary Shares. 

(a)    Certain Definitions. For the purposes of Section 4.1, a “Right Holder” means each
shareholder of the Company (except for the holders of shares issued pursuant to the ESOP) other than the Selling Shareholder or its permitted assignees to whom its rights under this Section 4.1 have been duly assigned in accordance with this
Agreement. 
 (b)    Sale of Shares; Notice of Sale. Subject to Sections 4.3 and 4.5 of this Agreement, if any
holder of the Ordinary Shares proposes to, directly or indirectly, sell, transfer or otherwise reduce, the economic benefit of owning any Ordinary Shares held by it (the “Selling Shareholder”), then the Selling Shareholder shall
promptly give written notice (the “Transfer Notice”) to the Company and each Right Holder prior to such sale or transfer. The Transfer Notice shall describe in reasonable detail the proposed sale or transfer including, without
limitation, the number of the Ordinary Shares to be sold or transferred (the “Offered Shares”), the nature of such sale or transfer, the consideration to be paid, and the name and address of each prospective purchaser or transferee.

 (c)    Right of First Refusal. Each Right Holder shall have the right, exercisable upon written notice (the
“First Refusal Notice”) to the Selling Shareholder, the Company and each other Right Holder within thirty (30) days after receipt of the Transfer Notice (the “First Refusal Period”), to elect to purchase all or
any part of the Offered Shares. The First Refusal Notice shall set forth the number of Offered Shares that such Right Holder wishes to purchase, which amount shall not exceed the First Refusal Allotment of such Right Holder. Such right of first
refusal may be exercised as follows: 
 (i)    First Refusal Allotment. Unless otherwise agreed by and among the
Right Holders, each Right Holder shall have the right to purchase that number of the Offered Shares (the “First Refusal Allotment”) equivalent to the product obtained by multiplying the aggregate number of the Offered Shares by a
fraction, the numerator of which is the number of the Ordinary Shares held by such Right Holder at the time of the transaction (except for the number of the Ordinary Shares issued pursuant to the ESOP) and the denominator of which is the total
number of the Ordinary Shares owned by all the Right Holders at the time of the transaction (except for the number of the Ordinary Shares issued pursuant to the ESOP), in each case on an as-converted basis. A
Right Holder shall not have a right to purchase any of the Offered Shares unless it exercises its right of first refusal within the First Refusal Period to purchase any part, or up to all of its First Refusal Allotment of the Offered Shares. 

  
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 (ii)    Second Exercise. If and to the extent that any Right
Holder does not exercise its right of first refusal to the full extent of its First Refusal Allotment, the Company shall, within three (3) Business Days after the end of the First Refusal Period, give notice (the “Second Exercise
Notice”) to the Right Holders who have fully exercised their right of first refusal during the First Refusal Period (the “ROFR Participating Right Holders”), indicating the number of Offered Shares that have not been
purchased by the Right Holders during the First Refusal Period (the “Remaining ROFR Shares”). Each ROFR Participating Right Holder shall have five (5) Business Days from the date of the Second Exercise Notice (the
“Second Exercise Period”) to notify the Company and the Selling Shareholder of its desire to purchase more than its First Refusal Allotment of the Offered Shares, stating the number of the additional Offered Shares it proposes to
purchase (the “Additional ROFR Shares”). Such notice may be made by telephone if confirmed in writing within two (2) Business Days. If, as a result thereof, the total number of Additional ROFR Shares proposed to be purchased by
the ROFR Participating Right Holders exceeds the total number of the Remaining ROFR Shares, each ROFR Participating Right Holder who proposed to purchase its Additional ROFR Shares shall be cut back by the Company with respect to its Additional ROFR
Shares to that number of the Remaining ROFR Shares equal to the lesser of (x) its Additional ROFR Shares and (y) the product obtained by multiplying (i) the number of the Remaining ROFR Shares by (ii) a fraction the numerator of
which is the number of the Ordinary Shares held by such ROFR Participating Right Holder (except for the number of the Ordinary Shares issued pursuant to the ESOP) and the denominator of which is the total number of the Ordinary Shares held by all
the ROFR Participating Right Holders who proposed to purchase its Additional ROFR Shares (except for the number of the Ordinary Shares issued pursuant to the ESOP), in each case on an as-converted basis. In
the event that there are still Offered Shares that remain un-purchased after the implementation of this subsection (ii), the Selling Shareholder and the ROFR Participating Right Holders shall, within two
(2) Business Days after the Second Exercise Period, discuss in good faith with a view that all such remaining Offered Shares may be purchased by the ROFR Participating Right Holders. 

(iii)    Expiration Notice. Within five (5) days after (i) expiration of the Second Exercise Period, or
(ii) expiration of the First Refusal Period, in the event that no Right Holder has fully exercised its right of first refusal during the First Refusal Period, the Selling Shareholder shall give written notice (the “First Refusal
Expiration Notice”) to the Company and each Right Holder specifying either (i) that all of the Offered Shares were subscribed by the Right Holders exercising their rights of first refusal, or (ii) that the Right Holders have not
subscribed all of the Offered Shares. 
 (d)    Purchase Price. The purchase price for the Offered Shares to be
purchased by the Right Holders exercising their right of first refusal will be the price set forth in the Transfer Notice, but will be payable as set forth in Section 4.1(e). If the purchase price in the Transfer Notice includes consideration
other than cash, the cash equivalent value of the non-cash consideration will be the fair market value of such non-cash consideration determined in good faith by a
qualified independent valuer jointly appointed by the Company, Kingsoft, holders of at least 66% of the then issued and outstanding Series B Preferred Shares, holders of at least 66% of the then issued and outstanding Series C Preferred Shares and
holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an as-converted basis). The determination of such independent valuer
shall, in the absence of manifest error or fraud, be binding upon the parties and the cost thereof shall be borne by the Selling Shareholder. 

  
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 (e)    Payment. Payment of the purchase price for the Offered
Shares purchased by the Right Holders shall be made within ten (10) Business Days following the date of the First Refusal Expiration Notice. Payment of the purchase price will be made by wire transfer or check as directed by the Selling
Shareholder. 
 (f)    Rights of a Selling Shareholder. If any Right Holder exercises its right of first refusal
to purchase the Offered Shares, then, upon the date the notice of such exercise is given by such Right Holder, the Selling Shareholder will have no further rights as a holder of such Offered Shares except the right to receive payment for such
Offered Shares from such Right Holder in accordance with the terms of this Agreement, and the Selling Shareholder will forthwith cause all certificate(s) evidencing such Offered Shares to be surrendered to the Company for transfer to such Right
Holder against payment by the Right Holder of the purchase price in accordance with Section 4.1(e) hereof, and the Company shall update its register of members accordingly. 

(g)    Right to Transfer. To the extent the Right Holders have not elected to purchase the Offered Shares subject
to the Transfer Notice pursuant to this Section 4.1, the Selling Shareholder may, subject to the tag-along right of the Preferred Holders as set forth in Section 4.3 below, not later than one hundred
and twenty (120) days following delivery to the Company and each Right Holder of the Transfer Notice, conclude a transfer of the Offered Shares covered by the Transfer Notice and not elected to be purchased by the Right Holders, which shall be
on substantially the same terms and conditions as those described in the Transfer Notice. Any proposed transfer on terms and conditions which are materially different from those described in the Transfer Notice, as well as any subsequent proposed
transfer of any Shares by the Selling Shareholder, shall again be subject to the right of first refusal of the Right Holders and the tag-along right of the Preferred Holders and shall require compliance by the
Selling Shareholder with the procedures described in this Section 4.1. 
 4.2    Right of First Offer –
Transfer of Preferred Shares. 
 (a)    Certain Definitions. For the purposes of this Section 4.2, a
“Right Holder” means each shareholder of the Company (except for the holders of shares issued pursuant to the ESOP) other than the Selling Preferred Shareholder or its permitted assignees to whom its rights under this
Section 4.2 have been duly assigned in accordance with this Agreement. 
 (b)    Sale of Preferred Shares;
Notice of Sale. Subject to Sections 4.3 and 4.5 of this Agreement, if any holder of the Preferred Shares proposes to, directly or indirectly, sell, transfer or otherwise reduce, the economic benefit of owning any Preferred Shares held by it (the
“Selling Preferred Shareholder”), then the Selling Preferred Shareholder shall promptly give written notice (the “Preferred Transfer Notice”) to the Company and each Right Holder before taking any action to solicit,
initiate, cause, participate in, or facilitate any proposal, negotiation, discussion or offer from or with any potential transferee relating to the sale or transfer or otherwise reduce of the economic benefit of owning such Preferred Shares. The
Preferred Transfer Notice shall describe in reasonable detail the proposed sale or transfer including, without limitation, its bona fide intention to sell or transfer such Preferred Shares (the “Offered Preferred Shares”), the
number of the Offered Preferred Shares to be sold or transferred, the consideration to be paid, and other terms, if any, upon which it proposes to sell or transfer such Offered Preferred Shares. 

  
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 (c)    Right of First Offer. Each Right Holder shall have the
right, exercisable upon written notice (the “First Offer Notice”) to the Selling Preferred Shareholder, the Company and each other Right Holder within fifteen (15) days after receipt of the Preferred Transfer Notice (the
“First Offer Period”), to elect to purchase all or part of its First Offer Allotment. The First Offer Notice shall set forth the aggregate number of Offered Preferred Shares that such Right Holder wishes to purchase, which can
include the First Offer Allotment of such Right Holder as well as the maximum number of additional Offered Preferred Shares such Right Holder wishes to purchase in the event any other Right Holder does not exercise its right of first offer to the
full extent of its First Offer Allotment. Such right of first offer may be exercised as follows: 
 (i)    First
Offer Allotment. Unless otherwise agreed by and among the Right Holders, each Right Holder shall have the right to purchase that number of the Offered Preferred Shares (the “First Offer Allotment”) equivalent to the product
obtained by multiplying the aggregate number of the Offered Preferred Shares by a fraction, the numerator of which is the number of the Ordinary Shares held by such Right Holder at the time of the transaction (except for the number of the Ordinary
Shares issued pursuant to the ESOP) and the denominator of which is the total number of the Ordinary Shares owned by all the Right Holders at the time of the transaction (except for the number of the Ordinary Shares issued pursuant to the ESOP), in
each case on an as-converted basis. A Right Holder shall not have a right to purchase any of the Offered Preferred Shares unless it exercises its right of first offer within the First Offer Period to purchase
all or part of its First Offer Allotment of the Offered Preferred Shares. 
 (ii)    Second Allotment. If and to
the extent that any Right Holder does not exercise its right of first offer to the full extent of its First Offer Allotment, the Right Holders who have indicated that they wish to purchase additional Offered Preferred Shares in the First Offer
Notice shall be entitled to purchase the remaining Offered Preferred Shares on a pro rata basis. 

(iii)    Expiration Notice. Within five (5) days after expiration of the First Offer Period, the Selling
Preferred Shareholder shall give written notice (the “First Offer Expiration Notice”) to the Company and each Right Holder specifying either (i) that all of the Offered Preferred Shares were subscribed by the Right Holders
exercising their rights of first offer, or (ii) that the Right Holders have not subscribed all of the Offered Preferred Shares. 

(d)    Purchase Price. The purchase price for the Offered Preferred Shares to be purchased by the Right Holders
exercising their right of first offer will be the price set forth in the Preferred Transfer Notice, but will be payable as set forth in Section 4.2(e). If the purchase price in the Preferred Transfer Notice includes consideration other than
cash, the cash equivalent value of the non-cash consideration will be the fair market value of such non-cash consideration determined in good faith by a qualified
independent valuer jointly appointed by the Company, Kingsoft, holders of at least 66% of the then issued and outstanding Series B Preferred Shares, holders of at least 66% of the then issued and outstanding Series C Preferred Shares and holders of
at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an as-converted basis). The determination of such independent valuer shall, in the
absence of manifest error or fraud, be binding upon the parties and the cost thereof shall be borne by the Selling Preferred Shareholder. 

  
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 (e)    Payment. Payment of the purchase price for the Offered
Preferred Shares purchased by the Right Holders shall be made within ten (10) Business Days following the date of the First Offer Expiration Notice. Payment of the purchase price will be made by wire transfer or check as directed by the Selling
Preferred Shareholder. 
 (f)    Rights of a Selling Preferred Shareholder. If any Right Holder exercises its
right of first offer to purchase the Offered Preferred Shares, then, upon the date the notice of such exercise is given by such Right Holder, the Selling Preferred Shareholder will have no further rights as a holder of such Offered Preferred Shares
except the right to receive payment for such Offered Preferred Shares from such Right Holder in accordance with the terms of this Agreement, and the Selling Preferred Shareholder will forthwith cause all certificate(s) evidencing such Offered
Preferred Shares to be surrendered to the Company for transfer to such Right Holder against payment by the Right Holder of the purchase price in accordance with Section 4.2(e) hereof, and the Company shall update its register of members
accordingly. 
 (g)    Right to Transfer. To the extent the Right Holders have not elected to purchase the
Offered Preferred Shares subject to the Preferred Transfer Notice pursuant to this Section 4.2, the Selling Preferred Shareholder may, subject to the tag-along right of the Preferred Holders as set forth
in Section 4.3 below, not later than one hundred and twenty (120) days following delivery to the Company and each Right Holder of the Preferred Transfer Notice, conclude a transfer of the Offered Preferred Shares covered by the Preferred
Transfer Notice and not elected to be purchased by the Right Holders, which shall be on terms and conditions that are no less favorable to the Selling Preferred Shareholder as those described in the Preferred Transfer Notice. Any proposed transfer
on terms and conditions which are less favorable to the Selling Preferred Shareholder from those described in the Preferred Transfer Notice, as well as any subsequent proposed transfer of any Preferred Shares by the Selling Preferred Shareholder,
shall again be subject to the right of first offer of the Right Holders and the tag-along right of the Preferred Holders and shall require compliance by the Selling Preferred Shareholder with the procedures
described in this Section 4.2. 
 (h)    Majority Holding. Notwithstanding anything to the contrary, if the
Selling Preferred Shareholder holds a majority of the issued and outstanding Preferred Shares of any class of Preferred Shares on the date of the Preferred Transfer Notice, then the Right Holders may only exercise their right of first offer to
purchase either (i) such number of Offered Preferred Shares that will not change the Selling Preferred Shareholder’s status as the holder of a majority of the issued and outstanding Preferred Shares of such class of Preferred Shares after
such purchase, or (ii) all of the Offered Preferred Shares. For the avoidance of doubt, if the Selling Preferred Shareholder holds 50% of all of the issued and outstanding Preferred Shares plus one Preferred Share of such class of Preferred
Shares on the date of the Preferred Transfer Notice, then the Right Holders may only exercise their right of first offer to purchase all, but not less than all, of the Offered Preferred Shares. 

4.3    Tag-Along Right. 

(a)    To the extent that any Preferred Holder has not exercised its right of first refusal with respect to any Offered
Shares or its right of first offer with respect to any Offered Preferred Shares, then each such Preferred Holder (a “Tag-Along Right Holder”) shall have the right, exercisable upon a written
notice to the Selling Shareholder or the Selling Preferred Shareholder, as applicable, the Company and each other Preferred Holder (the “Tag-Along Notice”) within twenty (20) days after
receipt of the First Refusal Expiration Notice or the First Offer Expiration Notice, as applicable (the “Tag-Along Right Period”), to participate in such sale of the Offered Shares or the
Offered Preferred Shares, as applicable, on the same terms and conditions as set forth in the Transfer Notice or the Preferred Transfer Notice, as applicable. The Tag-Along Notice given by a participating Tag-Along Right Holder (a “Tag-Along Participant”) shall set forth the number of Ordinary Shares (on an as-converted
basis) that such Tag-Along Participant wishes to include in such sale or transfer, which amount shall not exceed the product obtained by multiplying (x) the number of Ordinary Shares issued or issuable
upon conversion of Preferred Shares held by such Tag-Along Right Holder at the time of the sale or transfer by (y) a fraction, the numerator of which is the number of the Offered Shares or the Offered
Preferred Shares subject to the tag-along right under this Section 4.3 and the denominator of which is the total number of Ordinary Shares (on an as-converted
basis) directly or indirectly owned at such time by the Selling Shareholder or the Selling Preferred Shareholder, as applicable (the “Tag-Along Pro Rata Portion”). In the event that the
Selling Shareholder or its ultimate beneficial owner is the Officer, the Management and/or participant to the ESOP, the denominator of which shall be the total number of Ordinary Shares directly or indirectly owned by the Officer, Management and/or
participant for the purpose of calculating the Tag-Along Pro Rata Portion. To the extent one or more of the Tag-Along Right Holders exercise such tag-along right in accordance with the terms and conditions set forth below and the prospective purchaser or transferee is not willing to purchase all of the Shares included in such exercise, the number of Shares
that the prospective purchaser or transferee is willing to purchase shall be allocated among the Selling Shareholder or the Selling Preferred Shareholder, as applicable, and each exercising Tag-Along Right
Holder on a pro rata basis in accordance with the respective number of Shares owned by each of them (calculated on an as-converted basis) at the time of such sale or transfer. 

  
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 (b)    Tag-Along Pro Rata
Portion. Each Tag-Along Right Holder may sell all or any part of that number of Ordinary Shares acquired upon conversion of any Preferred Shares or Preferred Shares held by it that is equal to the Tag-Along Pro Rata Portion. To the extent that any Tag-Along Right Holder does not exercise its tag-along right to the full extent of
its Tag-Along Pro Rata Portion, the Selling Shareholder, or the Selling Preferred Shareholder, as applicable, and the Tag-Along Participants shall, within five
(5) days after the end of such Tag-Along Right Period, make such adjustments to the Tag-Along Pro Rata Portion of each
Tag-Along Participant so that any remaining Offered Shares or Offered Preferred Shares, as applicable, may be allocated to such Tag-Along Participants on a pro rata
basis. 
 (c)    Transferred Shares. Each Tag-Along Participant shall
effect its participation in the sale by promptly delivering to the Selling Shareholder or the Selling Preferred Shareholder, as applicable, for transfer to the prospective purchaser one or more certificates, properly endorsed for transfer, which
represent the number of Ordinary Shares, Preferred Shares or other securities which such Tag-Along Participant elects to sell. 

(d)    Payment to Tag-Along Participants. The share certificate or
certificates that the Tag-Along Participant delivers to the Selling Shareholder or the Selling Preferred Shareholder, as applicable, pursuant to Section 4.3(c) shall be transferred to the prospective
purchaser in consummation of the sale of the Offered Shares or the Offered Preferred Shares, as applicable, pursuant to the terms and conditions specified in the Transfer Notice or the Preferred Transfer Notice, as applicable, and the Selling
Shareholder or the Selling Preferred Shareholder, as applicable, shall concurrently therewith remit to such Tag-Along Participant that portion of the sale proceeds to which such
Tag-Along Participant is entitled by reason of its participation in such sale. Subject to Section 4.3(a), to the extent that any prospective purchaser or purchasers refuse to purchase any Ordinary Share,
Preferred Shares or other securities from a Tag-Along Participant, the Selling Shareholder or the Selling Preferred Shareholder, as applicable, shall not sell to such prospective purchaser or purchasers any
Offered Shares or Offered Preferred Shares unless and until, simultaneously with such sale, the Selling Shareholder or the Selling Preferred Shareholder, as applicable, shall purchase such Ordinary Shares, Preferred Shares or other securities of the
Company from such Tag-Along Participant. 

  
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 (e)    Right to Transfer. To the extent the Right Holders do not
elect to purchase, or the Preferred Holders do not elect to participate in the sale of, the Offered Shares or the Offered Preferred Shares subject to the Transfer Notice or the Preferred Transfer Notice, as applicable, the Selling Shareholder or the
Selling Preferred Shareholder may conclude a transfer of the Offered Shares or the Offered Preferred Shares pursuant to Section 4.1(g) or Section 4.2(g), as applicable. 

4.4    Exempt Transfers. Notwithstanding anything to the contrary contained herein, the right of first refusal
provided in Section 4.1, the right of first offer provided in Section 4.2 and the tag-along right provided in Section 4.3 shall not apply to: 

(a)    any transfer of Shares to the Company or Kingsoft pursuant to repurchase or purchase provisions under the Officer
Restricted Share Agreement, the Management Restricted Share Agreement and the ESOP or any transfer of equity interest in the Management Holdco to the Management Holdco and Kingsoft pursuant to the Management Restricted Share Agreement;
provided that such Shares or equity interest in the Management Holdco purchased by Kingsoft shall be held by Kingsoft and used solely for future awards under the ESOP and the Company shall fully reimburse Kingsoft for the purchase price paid,
and related expenses (including applicable taxes, if any) incurred, by Kingsoft for such transfer; 
 (b)    subject to
approval as provided in Section 8.3(d), any transfer of Shares or equity interest in the Management Holdco directly or indirectly owned by any Officer, any Management or any participant of the ESOP to the Company or Kingsoft; provided that
(1) in the event that (x) the aggregate number of the Shares so directly or indirectly transferred by all of such Officer, Management and participants in one or a series of transactions in any consecutive twelve (12) month period
exceeds 2.0833% of the Total Share Capital of the Company as of Closing, i.e. 60,827,026 Ordinary Shares, or (y) the aggregate number of the Shares so directly or indirectly transferred by any such Officer, Management or participant prior to
the completion of an IPO exceeds 0.4630% of the Total Share Capital of the Company as of Closing, i.e. 13,517,117 Ordinary Shares, in each case on a fully-diluted and as-converted basis, (i) any further
transfer by any Officer, any Management or any participant of the ESOP (in case of clause (x) above, the total number of Ordinary Shares owned by the Selling Shareholder shall be deemed to include all Ordinary Shares directly or indirectly
owned by the Officer and the Management and all Ordinary Shares reserved under the ESOP for the purpose of calculating the Tag-Along Pro Rata Portion) or by such Officer, Management or participant (in case of
clause (y) above, the total number of Ordinary Shares directly or indirectly owned by the Selling Shareholder shall be all Ordinary Shares owned by such Officer, Management or participant for the purpose of calculating the Tag-Along Pro Rata Portion), respectively, to the Company or Kingsoft, at an effective price per Share not lower than the effective purchase price per Share of the Series D+ Preferred Shares on an as-converted basis, shall be subject to the tag-along rights of each Preferred Holder under Section 4.3 (except that the Company or Kingsoft, as applicable, shall
purchase all of the Shares included in the exercise of such tag-along rights), (ii) such further transfer to the Company or Kingsoft, at an effective price per Share not lower than the effective purchase price
per Share of the Series D Preferred Shares on an as converted basis but lower than the effective purchase price per Share of the Series D+ Preferred Shares on an as converted basis shall be subject to the
tag-along rights of each Series A Preferred Holder, Series B Preferred Holder, Series C Preferred Holder and Series D Preferred Holder under Section 4.3 (except that the Company or Kingsoft, as
applicable, shall purchase all of the Shares included in the exercise of such tag-along rights); (iii) such further transfer to the Company or Kingsoft, at an effective price per Share not lower than the
effective purchase price per Share of the Series C Preferred Shares on an as converted basis but lower than the effective purchase price per Share of the Series D Preferred Shares on an as converted basis shall be subject to the tag-along rights of each Series A Preferred Holder, Series B Preferred Holder and Series C Preferred Holder under Section 4.3 (except that the Company or Kingsoft, as applicable, shall purchase all of the
Shares included in the exercise of such tag-along rights); and (iv) such further transfer to the Company or Kingsoft, at an effective price per Share not lower than the effective purchase price per Share
of the Series B Preferred Shares on an as converted basis but lower than the effective purchase price per Share of the Series C Preferred Shares on an as converted basis shall be subject to the tag-along
rights of each Series A Preferred Holder and Series B Preferred Holder under Section 4.3 (except that the Company or Kingsoft, as applicable, shall purchase all of the Shares included in the exercise of such
tag-along rights); (2) the over-allocation right of any Tag-Along Participant provided in Section 4.3(b) shall not apply; and (3) any Shares or equity interest
in the Management Holdco transferred to the Company or Kingsoft, which are not subject to the tag-along right of each Preferred Holder under this Section 4.4(b), shall be held by and used solely for
future award under the ESOP or for the other purpose as duly approved by the Board (including the approval of the IDG Director, the AMC Director, the Minsheng Director and the Metawit Director) and, if such Shares or equity interest are transferred
to Kingsoft, the Company shall fully reimburse Kingsoft for the purchase price paid by Kingsoft, and related expenses (including applicable taxes, if any) incurred, for such transfer. For the purpose of this Agreement, “Total Share Capital of
the Company as of Closing” shall mean the sum of the total issued and outstanding share capital of the Company as of the Closing and the total share capital of the Company reserved under the ESOP as of the Closing. 

  
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 (c)    any transfer of Shares in the Management Holdco Restructuring (as
defined in the Management Holdco Restricted Share Agreement); 
 (d)    any transfer of the Shares pursuant to
Section 9.2; or 
 (e)    any transfer of the Shares or other securities of the Company by any Preferred Holder to
any of its Affiliates; provided that for the IDG Investor, the AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor, the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF Investor or the CCBI Investor,
the “Affiliate” in this subsection (e) shall mean the corresponding Affiliate of the IDG Investor, the AMC Investor, the CM Investor, Metawit Investor, the Minsheng Investor, the Shunwei Investor, the Forebright Investor, FutureX
Capital, the CIIF Investor or the CCBI Investor which is (i) (w) a shareholder (including general partner, limited partners and fund manager) of the IDG Investor, the AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor,
the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF Investor or the CCBI Investor, (x) such shareholder (including general partner, limited partners and fund manager)’s general partner or limited partners, (y) the
fund manager managing such shareholder (including general partner, limited partners and fund manager) (and the general partner, limited partners and officers thereof) and other fund(s) managed by a fund manager which is operated by substantially the
same management team as the fund manager referred to in (y),or (z) a trust Controlled by or for the benefit of any such Person referred to in (x), (y) or (z), and (ii) not, and not Controlled by, a Competitor. 

  
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 4.5    Prohibited Transfers. 

(a)    Notwithstanding anything to the contrary contained herein, at any time commencing from the date hereof, without the
prior written consent of Kingsoft, none of the shareholders of the Company (except for Kingsoft) may, directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of
transactions any equity interests in the Company held by it to any Person who is a Competitor. For the avoidance of any doubt, the transfer restrictions herein shall not be capable of being avoided by the holding of any securities in any Person
indirectly through a company or other entity that can itself be sold or transferred in order to dispose of an interest in such securities in such Person free of such restrictions. 

(b)    Notwithstanding anything to the contrary contained herein, except for any transfer of shares or other equity
interest pursuant to and in compliance with the Officer Restricted Share Agreement, none of the Officer Holdco or the Officer shall, without the prior written consent of Kingsoft and the IDG Investor and holders of at least 66% of the then issued
and outstanding Series C Preferred Shares and holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an as-converted basis),
directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of transactions any equity interest in the Company held directly or indirectly by the Officer Holdco and/or such
Officer to any Person. 
 (c)    Notwithstanding anything to the contrary contained herein and subject to
Section 4.5(b), except for any transfer of shares or other equity interest pursuant to and in compliance with the Management Restricted Share Agreement and ESOP, none of the Management Holdco or the Management shall, without the prior written
consent of Kingsoft, directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of transactions any equity interest in the Company held directly or indirectly by such
Management Holdco and/or such Management to any Person; provided that any such transaction involving equity interest in the Company held directly or indirectly through the Management Holdco by Mr. WANG Yulin (王育林) shall be subject to the prior written consent of the IDG Investor. 

(d)    Any attempt by a party to sell or transfer any direct or indirect equity interest of the Company in violation of
this Section 4 shall be void and each of the Company, the Officer Holdco and the Management Holdco hereby agrees it will not effect such a transfer nor will it treat any alleged transferee as the holder of such equity interest. 

(e)    For the avoidance of doubt, any sale, transfer or other disposition of the Company securities directly or
indirectly held by the shareholders of the Company (including without limitation any Shares and shares of the Officer Holdco and the Management Holdco) in compliance with this Section 4.5 (except for the exempted transfer as provided in
Section 4.4 above) shall nevertheless be subject to the right of first refusal under Section 4.1, the right of first offer under Section 4.2 and the tag-along right under Section 4.3. 

  
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 (f)    For the avoidance of doubt, the right of first offer under
Section 4.2, the tag-along right under Section 4.3 and the transfer restrictions under this Section 4.5 and Section 4.6 applicable to the CIIF Investor shall not apply to the transfer of
the partnership interest in the CIIF Investor or the direct or indirect beneficial ownership in its partners; provided that such transfer shall not result in the Control of the Shares held by the CIIF Investor by a Competitor in any way or
the fact that the CIIF Investor ceases to operate under the trade name of China Internet Investment Fund (中国互联网投资基金). 
 4.6    Restriction on Indirect Transfers. The
transfer restrictions herein shall not be capable of being avoided by the holding of any securities in the Company indirectly through a company or other entity that can itself be sold or transferred in order to dispose of an indirect interest in
such securities in the Company (including through any trust, derivative contract or other economic arrangement transferring the benefits of ownership of any Shares) free of such restrictions. Any issuance, transfer or other disposal of any shares
(or other interest) of the Officer Holdco or the Management Holdco or of any company (or other entity) holding shares in such shareholder shall be treated as a transfer of the equity interest of the Company held by such shareholder and the
provisions of this Section 4 shall thereupon apply in respect of the equity interest or securities of the Company so held. Unless otherwise permitted under (and made in compliance with) Sections 4.1 to 4.5, without the prior written approval of
Kingsoft, the IDG Investor, the holders of at least 66% of the then issued and outstanding Series C Preferred Shares and the holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting
together on an as-converted basis), none of the Management (other than Mr. WANG Yulin (王育林)) shall dispose of any equity interest held, directly or indirectly, by such Management in the Management Holdco or the Company; provided that the approval of the IDG Investor, the holders
of at least 66% of the then issued and outstanding Series C Preferred Shares and the holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an as-converted basis) shall not be required if any Management (other than Mr. WANG Yulin (王育林)) disposes of any equity interest held, directly or indirectly, by such Management in the Management Holdco or the Company as provided in Sections 4.6(a) and (b) below:  

(a)    unless otherwise pursuant to and in compliance with the Officer Restricted Share Agreement, the Management
Restricted Share Agreement or the ESOP, and subject to the provisions in this Section 4, no Officer or Management shall, directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or
a series of transactions any equity interest held, directly or indirectly, by such Officer in the Officer Holdco or the Company, or such Management in the Management Holdco or the Company, to any Person, and each of the Officer Holdco, the
Management Holdco and the Company hereby agrees it will not effect a transfer in violation of this provision, nor will it treat any alleged transferee as the holder of such shares; 

(b)    subject to the provisions in this Section 4, the Officer Holdco and the Management Holdco shall not, and the
Officer and each of the Management shall cause the Officer Holdco and the Management Holdco not to, issue to any Person any equity securities of the Officer Holdco or the Management Holdcos or any options or warrants for, or any other securities
exchangeable for or convertible into, such equity securities of the Officer Holdco or the Management Holdco; 

  
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 (c)    unless otherwise required under the Restructuring Documents, no
Officer, Management or such other Person holding any equity interest in the Domestic Enterprises shall, directly or indirectly, sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of
transactions any equity interest held or controlled by him in the Domestic Enterprises to any Person; and 
 (d)    the
Domestic Enterprises shall not, and each of the Officer and Management shall use their best efforts to cause the Domestic Enterprises not to, issue to any Person any equity securities of the Domestic Enterprises, or any options or warrants for, or
any other securities exchangeable for or convertible into, such equity securities of the Domestic Enterprises. 

4.7    Legend. 

(a)    Each certificate representing the Shares held by the Officer Holdco and the Management Holdco shall be endorsed with
the following legend: 
 “THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO
THE TERMS AND CONDITIONS OF A SHAREHOLDERS AGREEMENT BY AND BETWEEN THE SHAREHOLDERS OF THE COMPANY, THE COMPANY, CERTAIN AFFILIATES OF THE COMPANY AND CERTAIN OTHER PARTIES. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE
SECRETARY OF THE COMPANY.” 
 (b)    Each of the Officer Holdco, the Officer, the Management Holdco and the
Management agrees that the Company may instruct its transfer agent to impose transfer restrictions on the shares represented by certificates bearing the legend referred to in Section 4.7(a) above to enforce the provisions of this Agreement and
the Company agrees to promptly do so. The legend shall be removed upon termination of the provisions of this Section 4. 

4.8    Term. The provisions of this Section 4 shall terminate upon the earlier of the completion of an IPO or
the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 
  

	 	5.	 DRAG-ALONG OBLIGATIONS. 

5.1    Drag-Along Rights. Notwithstanding anything to the contrary in this Agreement, if at any time prior to the
closing of an IPO, holders holding at least 50% of the then issued and outstanding Ordinary Shares, holders holding at least 66% of the then issued and outstanding Series A Preferred Shares, holders holding at least 66% of the then issued and
outstanding Series B Preferred Shares, holders holding at least 66% of the then issued and outstanding Series C Preferred Shares and holders holding at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred
Shares (voting together on an as-converted basis) (collectively, the “Drag-Along Shareholders”) vote in favor of, or otherwise consent in writing to, or otherwise agree in writing to a
proposed Trade Sale (a “Drag-Along Transaction”), all shareholders of the Company shall, and each of the Officer and the Management shall cause his respective Officer Holdco and/or Management Holdco to, (i) vote, or give its
written consent with respect to, all the Shares held by it in favor of such proposed Drag-Along Transaction and in opposition of any proposal that could reasonably be expected to delay or impair the consummation of any such proposed Drag-Along
Transaction; (ii) refrain from exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to or in connection with such proposed Drag-Along Transaction; (iii) transfer the securities on
terms and conditions of such proposed Drag-Along Transaction as approved by the Drag-Along Shareholders in the event that a proposed Drag-Along Transaction is structured as a share transfer; and (iv) take all actions reasonably necessary to
consummate the proposed Drag-Along Transaction, including without limitation amending the then existing memorandum and articles of association of the Company then in effect. 

  
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 5.2    Term. The provisions of this Section 5 shall
terminate upon the earlier of the completion of an IPO or the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 

 

	 	6.	 INFORMATION AND INSPECTION RIGHTS; CONNECTED TRANSACTIONS. 

6.1    Information Rights. Each of the Group Companies covenants and agrees that, commencing on the date of this
Agreement, for so long as Xiaomi holds any Preferred Shares and/or any Ordinary Shares or any Series B Preferred Holder holds no less than 80% of the Series B Preferred Shares held by it as of the Closing or any Series C Preferred Holder (other than
the CM Investor or FutureX Capital 1) holds no less than 80% of the Series C Preferred Shares held by it as of the Closing or any Series D Preferred Holder holds no less than 80% of the Series D Preferred Shares held by it as of the Closing or any
Series D+ Preferred Holder holds no less than 80% of the Series D+ Preferred Shares held by it as of the Closing, or Ordinary Shares issued upon conversion thereof, the Group Companies shall provide to Xiaomi or such Series B Preferred Holder or
such Series C Preferred Holder or such Series D Preferred Holder or such Series D+ Preferred Holder, as applicable, the following information: 

(a)    unaudited annual consolidated financial statements of the Group Companies and audited annual financial statements
of each of the PRC Subsidiaries and the Domestic Enterprises, within one-hundred and twenty (120) days after the end of each fiscal year, prepared in accordance with the generally accepted accounting
principles in the PRC (the “PRC GAAP”) or any internationally recognized accounting standards and audited by a qualified and reputable accounting firm in the PRC; 

(b)    unaudited monthly consolidated financial statements of the Group Companies, within thirty (30) days of the end
of each month; 
 (c)    unaudited quarterly consolidated financial statements of the Group Companies, within sixty
(60) days of the end of each fiscal quarter; 
 (d)    within forty-five (45) days after the end of each
quarter and promptly following any sale or any issuance or allotment by the Company of any equity securities of the Company, including any Preferred Shares, Ordinary Shares, warrants, options or any other equity-linked securities of the Company or
rights to acquire any of the foregoing, or upon any increase or change in any option pool or the ESOP, the Company shall deliver to Xiaomi or such Series B Preferred Holder or such Series C Preferred Holder or such Series D Preferred Holder or such
Series D+ Preferred Holder, as applicable, a current, fully-diluted capitalization table of the Company certified by the chief financial officer of the Company, or the chief executive officer of the Company if the Company has not engaged a chief
financial officer, and the chief financial officer of Kingsoft, respectively; provided, however, that no such capitalization table shall be required in connection with issuances of equity awards or any exercise thereof from the ESOP;

  
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 (e)    within five (5) days after the transfer by any shareholder
of any equity securities of the Company, including any Preferred Shares, Ordinary Shares, warrants, options or any other equity-linked securities of the Company or rights to acquire any of the foregoing, the Company shall deliver to Xiaomi or such
Series B Preferred Holder or such Series C Preferred Holder or such Series D Preferred Holder or such Series D+ Preferred Holder, as applicable, a current, fully-diluted capitalization table of the Company certified by the chief financial officer of
the Company; provided, however, that no such capitalization table shall be required in connection with transfer of any shares issued under the ESOP to any other participant of the ESOP and the shares so transferred shall remain subject
to the rules of the ESOP after such transfer; 
 (f)    copies of all Company’s documents or other Company’s
information sent to any shareholder of the Company based on its status as a shareholder of the Company. 
 All financial statements to be
provided to Xiaomi or such Series B Preferred Holder or such Series C Preferred Holder or such Series D Preferred Holder or such Series D+ Preferred Holder, as applicable, pursuant to this Section 6.1 shall include an income statement, a
balance sheet, a cash flow statement, and a statement of changes in shareholders’ equity for the relevant period as well as for the fiscal year to-date and shall be prepared in conformance with the PRC
GAAP or any internationally recognized accounting standards. 
 6.2    Inspection Rights. Each of the Group
Companies further covenants and agrees that, commencing on the date of this Agreement, for so long as Xiaomi or any Series B Preferred Holder or any Series C Preferred Holder or any Series D Preferred Holder or any Series D+ Preferred Holder holds
any Preferred Shares or any Ordinary Shares, it shall have (i) the right to inspect facilities, records and books of the Group Companies at any time during regular working hours upon reasonable prior notice to the Group Companies, and
(ii) the right to discuss the business, operations and conditions of the Group Company with their respective directors, officers, employees, accountants, legal counsel and investment bankers; provided, however, that it shall consult with
Kingsoft before each inspection and observe such reasonable restrictions that Kingsoft may impose with respect to the timing of inspection in order to ensure Kingsoft’s compliance with its obligations as a public company, including without
limitation the obligations under applicable listing rules. 
 6.3    Observer Rights. The Company shall give the
Observers copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner as provided to such directors in a meeting of the Board; provided, however, that the
Board, acting in good faith and upon advice of legal counsel, reserves the right to withhold any information and to exclude any Observer from any meeting or portion thereof if access to such information or attendance at such meeting could adversely
affect the attorney-client privilege between the Company and its counsel or result in disclosure of highly confidential proprietary technical information. Each of the Observers shall be subject to the same confidentiality and non-disclosure obligations as other attendees of the Board meetings, and other obligations the Board may deem appropriate on a case specific basis. 

6.4    Connected Transactions. Kingsoft hereby undertakes and agrees that for so long as it has the power to,
directly or indirectly, direct the business of the Company, it shall always (i) act reasonably and in good faith in exercising such power, (ii) cause the Group Companies to deal with their respective “connected persons” (as
defined in the Listing Rules) (excluding any other Group Company) fairly and on arms-length basis, and (iii) refrain from doing anything in violation of applicable laws, regulations and stock exchange rules which may adversely affect the
business of the Company. 

  
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 6.5    Limitations on Information Rights of Series B Preferred
Holders, Series C Preferred Holders, Series D Preferred Holders and Series D+ Preferred Holder. If, in the good faith reasonable opinion of the Board, any Series B Preferred Holder or any Series C Preferred Holder or any
Series D Preferred Holder or any Series D+ Preferred Holder or any of such Series B Preferred Holder or Series C Preferred Holder or Series D Preferred Holder or Series D+ Preferred Holder’s Affiliates engages in business that is in
competition with the Principal Business of the Group Companies, or any Series B Preferred Holder or any Series C Preferred Holder or any Series D Preferred Holder or Series D+ Preferred Holder directly or indirectly holds any equity interest in any
Competitor other than a passive shareholding in a publicly listed company of less than the lower of (a) 3% or (b) the shareholding percentage of the IDG Investor, the AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor,
the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF Investor or the CCBI Investor in the Company respectively, such Series B Preferred Holder, Series C Preferred Holder, Series D Preferred Holder or Series D+ Preferred Holder
shall not be entitled to receive any information under Sections 6.1 and 6.2; provided that the Group Companies shall provide the chief financial officer of such Series B Preferred Holder, Series C Preferred Holder, Series D Preferred Holder
or Series D+ Preferred Holder with information set forth in Sections 6.1(a), 6.1(c), 6.1(d) and 6.1(e), which shall not be disclosed by such Series B Preferred Holder, Series C Preferred Holder, Series D Preferred Holder or Series D+ Preferred
Holder to any Person other than its finance and accounting staff and shall not be used for any purpose other than preparation of financial statements of such Series B Preferred Holder, Series C Preferred Holder, Series D Preferred Holder or Series
D+ Preferred Holder and disclosure and reports in relation to such financial statements. 
 6.6    Term. The
provisions of this Section 6 shall terminate upon the earlier of the completion of an IPO or the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 

 

	 	7.	 CONFIDENTIALITY AND NON-DISCLOSURE.

 7.1    Disclosure of Terms. The terms and conditions of the Transaction Documents, and all
exhibits and schedules attached to or in connection with each such documents (collectively, the “Financing Terms”), including their existence, shall be considered confidential information and shall not be disclosed by any party
hereto or any of its Representatives to any third party except in accordance with the provisions set forth below; provided that such confidential information shall not include any information that is in the public domain other than by reason of the
breach of the confidentiality obligations hereunder. The term “Representative” as used in this Section 7 means, any directors, equity interest holders, partners, members, officers, employees, agents, consultants, professional
advisors and Affiliates of any party hereto and any directors, equity interest holders, partners, members, officers, employees, agents, consultants, professional advisors of each such Affiliate, who is subject to similar confidential obligations to
such party. 
 7.2    Press Releases. Any press release issued by any party shall not disclose any of the
Financing Terms and the final form of such press release shall be approved in advance in writing by Kingsoft, Xiaomi, the IDG Investor, the AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor, the Shunwei Investor, the
Forebright Investor, FutureX Capital, the CIIF Investor or the CCBI Investor. No other announcement regarding any of the Financing Terms in a press release, conference, advertisement, announcement, professional or trade publication, mass
marketing materials or otherwise to the general public may be made without prior written consents of Kingsoft, Xiaomi, IDG Investor, AMC Investor, the CM Investor, the Metawit Investor, the Minsheng Investor, the Shunwei Investor, the Forebright
Investor, FutureX Capital, the CIIF Investor or the CCBI Investor, respectively. 

  
 31 

 7.3    Permitted Disclosures. Notwithstanding anything to the
contrary in this Section 7, any party may disclose any of the Confidential Information to a Representative or bona fide prospective investor(s), purchaser(s) or lender(s), in each case only where such Person is under appropriate nondisclosure
obligations. 
 7.4    Legally Compelled Disclosure. In the event that any party becomes legally required
(including without limitation, pursuant to securities laws and regulations) to disclose any of the Confidential Information in contravention of the provisions of this Section 7, such party (the “Disclosing Party”) shall provide
the other parties (the “Non-Disclosing Parties”) with prompt written notice of that fact and use all reasonable efforts to seek (with the cooperation and reasonable efforts of the other
parties) a protective order, confidential treatment or other appropriate remedy. In such event, the Disclosing Party shall furnish only that portion of the information which is legally required and shall exercise reasonable efforts to keep
confidential such information to the extent reasonably requested by any Non-Disclosing Party. 

7.5    Financial Information. The financial and operational information of the Group Companies any party obtains
pursuant to Section 6.1 shall be considered confidential information (together with the Financing Terms, the “Confidential Information”) and shall not be disclosed by such other party to any third party without prior approval
from the Company; provided that such Confidential Information shall not include any information that is in the public domain other than by reason of the breach of the confidentiality obligations hereunder. 

 

	 	8.	 APPROVALS AND CONSENTS. 

8.1    Matters Requiring Approval by Shareholders. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of a majority (unless the relevant statutes in Cayman Islands and/or other jurisdiction, and/or the Stock Exchange of Hong Kong Limited require a higher
percentage) of the Shares then issued and outstanding, voting together as a single class on an as-converted basis: 

(a)    any action that authorizes, creates, issues, make any change to, cancel, increase or decrease any class of
securities, including without limitation, any and all capital stock, membership interests, units, profits interests, ownership interests, equity interests, registered capital of the Group Companies, or any right, warrant, option, call, commitment,
conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing, or any contract providing for the acquisition of any of the foregoing; 

  
 32 

 (b)    any action that repurchases, redeems or retires any of the Group
Companies’ voting securities other than pursuant to contractual rights to repurchase any shares of the Company from employees, directors or consultants of the Group Companies upon termination of their employment or services or pursuant to the
exercise of a contractual right of first refusal held by the Company provided under this Agreement, the Officer Restricted Share Agreement, the Management Restricted Share Agreement or otherwise; 

(c)    acquisition of any share capital or other securities of any body corporate; merge or consolidation or other
business combination of any Group Company with or into any other business entity; acquisition or disposal of any interest in any other company, partnership, or business entity (including the incorporation of a company); enter into any partnership,
profit sharing agreement or joint venture; acquire any material stock or assets of any Person; any transaction or a series of transactions immediately after which the shareholders of any Group Company hold shares representing less than a majority of
the voting power of the outstanding share capital of the such Group Company; any Trade Sale; 
 (d)    any action that
capitalize the profits or reserves of any Group Company; authorize, create, allot, issue or place under option of the share, convertible loan stock or debentures of any Group Company; bond or note financing; 

(e)    any amendment or change of the rights, preferences, privileges or powers of, or the restrictions on any securities
or registered capital of the Group Companies; 
 (f)    any increase or decrease of the size of the Board or the board
of directors of other Group Companies not provided for in this Agreement; 
 (g)    any amendment to the power of the
Board or the board of directors of other Group Companies; 
 (h)    any amendment of the Restated Articles or any
constitutional documents of the Group Companies; 
 (i)    any amendment to the Restructuring Documents; and 

(j)    passing any resolution or taking any action for the winding up, termination or similar insolvency or bankruptcy
proceedings of any Group Company or undertaking any merger, reconstruction or liquidation exercise or make any composition or arrangement with creditors concerning any Group Company or applying for the appointment of a receiver, manager or judicial
manager or like officer. 
 8.2    Matters Requiring Approval by Series A Preferred Holders. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of a majority (unless the relevant statutes in Cayman Islands and/or other jurisdiction, and/or the Stock Exchange of Hong Kong Limited require a higher
percentage) of the Series A Preferred Shares then issued and outstanding, voting as a separate class: 

  
 33 

 (a)    the authorization, creation or issuance of any class or series of
securities (or warrants, options or similar rights to acquire such securities) having any right, preference or priority superior to or on a parity with the Series A Preferred Shares (including any additional Series A Preferred Shares authorized,
created or issued after the date hereof); 
 (b)    any change in any of the rights, preferences, privileges or powers
of, or the restrictions provided for the benefit of, the holders of Series A Preferred Shares; 
 (c)    merger or
consolidation or other business combination of any Group Company with or into any other business entity, immediately after which the shareholders of any Group Company hold shares representing less than a majority of the voting power of the
outstanding share capital of the surviving company; entering into any partnership agreement, profit sharing agreement or joint venture agreement, the value of which exceeds US$3,000,000; any transaction or a series of transactions immediately after
which the shareholders of any Group Company hold shares representing less than a majority of the voting power of the outstanding share capital of such Group Company; any Trade Sale; 

(d)    entering into transactions, or amending or terminating existing transactions, between any Group Company on the one
hand and any of its “connected persons” (as defined in the Listing Rules) (excluding any other Group Company) on the other hand, the value of which exceeds or is reasonably likely to exceed US$5,000,000; 

(e)    any amendment of the Restated Articles or any other constitutional documents of the Company; 

(f)    any material amendment to the Restructuring Documents; 

(g)    any amendment to the ESOP to increase the size of the option pool or the adoption of any employee share incentive
plan other than the existing ESOP; 
 (h)    other matters that require class voting under the law of the Cayman
Islands; 
 (i)    the authorization, creation, issuance or sale of any additional Series A Preferred Shares; 

(j)    the authorization, creation, issuance or sale of any Additional Ordinary Shares for a consideration per share less
than the then existing Conversion Price of Series A Preferred Shares; and 
 (k)    the authorization, creation,
issuance or sale of any Ordinary Share Equivalents exercisable, convertible or exchangeable for Additional Ordinary Shares and the Effective Conversion Price of such Ordinary Share Equivalents is less than the then existing Conversion Price of
Series A Preferred Shares. 

  
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 For the purpose of determining the consideration to be received by the Company under
subsections (j) and (k) above and under Sections 8.3(j), 8.3(k), 8.5(i) and 8.5(j) below: 
 (i)    To the
extent it consists of cash, the consideration received by the Company for any issue or sale of securities shall be computed at the net amount of cash received by the Company after deduction of any expenses payable directly or indirectly by the
Company and any underwriting or similar commissions, compensations, discounts or concessions paid or allowed by the Company in connection with such issue or sale; 

(ii)    To the extent it consists of property other than cash, the consideration other than cash received by the Company
for any issue or sale of securities shall be computed at the fair market value thereof, as determined in good faith by the Board as of the date of the adoption of the resolution specifically authorizing such issue or sale, irrespective of any
accounting treatment of such property; and 
 (iii)    If such Additional Ordinary Shares or Ordinary Share Equivalents
are issued together with other Shares or securities or other assets of the Company for consideration which covers both such Additional Ordinary Shares or Ordinary Share Equivalents and such other Shares or securities or other assets, the
consideration received by the Company shall be the proportion of such consideration so received with respect to such Additional Ordinary Shares or Ordinary Share Equivalents, as determined in good faith by the Board. 

Notwithstanding anything to the contrary contained herein, where any act listed in clauses (a) through (k) above requires a Special
Resolution (as defined in the Restated Articles), and if the Members vote in favor of such act but the approval by holders of a majority of the Series A Preferred Shares has not yet been obtained, the holders of the Series A Preferred Shares, in
such vote, hold one hundred (100) votes per Series A Preferred Share for the relevant Series A Preferred Shares held thereby and all the other Members shall have one (1) vote for each share held by the respective holder. 

8.3    Matters Requiring Approval by Series B Preferred Holders. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of at least 66% of the then issued and outstanding Series B Preferred Shares, voting as a separate class; provided that (i) such vote or
written consent shall not be required if such actions are for the purpose of completing an IPO, and (ii) in the event that any holder of the then issued and outstanding Series B Preferred Shares fails to participate in the general meeting duly
called to approve such action after being notified of the meeting and the agenda in writing by the Company in accordance with the Restated Articles, the number of Series B Preferred Shares held by such holder shall not be included in calculating the
percentage of Series B Preferred Shares the vote or consent of whose holders is required with respect to actions on the agenda: 

(a)    the authorization, creation or issuance of any class or series of securities (or warrants, options or similar
rights to acquire such securities) having any right, preference or priority superior to or on a parity with the Series B Preferred Shares (including any additional Series B Preferred Shares authorized, created or issued after the date hereof); 

  
 35 

 (b)    any change in any of the rights, preferences, privileges or
powers of, or the restrictions provided for the benefit of, the holders of Series B Preferred Shares; 
 (c)    merger
or consolidation or restructuring or other business combination of any Group Company with or into any other business entity, immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the
voting power of the outstanding share capital of the surviving company; any transaction or a series of transactions immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the voting
power of the outstanding share capital of such Group Company; any Trade Sale; 
 (d)    redemption, repurchase or
cancellation of any Share or other equity securities of the Company or any amendment to terms of such redemption, repurchase or cancellation, other than (i) as provided under any Transaction Document, or (ii) any transfer under
Section 4.4(a), or (iii) any transfer by any Management or participant of the ESOP other than the Officer under Section 4.4(b) so long as the holders of the Series B Preferred Shares are entitled to the
tag-along right under Section 4.4(b) with respect to such transfer; 

(e)    any amendment of the Restated Articles or any other constitutional documents of the Company; 

(f)    dissolution, liquidation or bankruptcy of any Group Company; 

(g)    any change to the Company’s policy of making dividend distributions in proportion to shareholding percentages
on an as-converted basis; 
 (h)    any change to the composition of the Board;

 (i)    any material amendment to the Restructuring Documents; 

(j)    the authorization, creation, issuance or sale of any Additional Ordinary Shares for a consideration per share less
than the then existing Conversion Price of Series B Preferred Shares; 
 (k)    the authorization, creation, issuance or
sale of any Ordinary Share Equivalents exercisable, convertible or exchangeable for Additional Ordinary Shares and the Effective Conversion Price of such Ordinary Share Equivalents is less than the then existing Conversion Price of Series B
Preferred Shares; 
 (l)    establishment of or any amendment to the terms of, or the number of Shares or their
equivalent covered under, any equity incentive plan for employees or directors of the Company, for which, together with any other such plan, the number of Shares reserved after the date hereof exceeds 5% of the Total Share Capital of the Company as
of Closing on a fully diluted and as-converted basis; for the avoidance of doubt, (i) the reservation of certain number of additional Shares which is no more than 5% of the Total Share Capital of the
Company as of Closing on a fully diluted and as-converted basis for any equity incentive plan for employees or directors of the Company, and (ii) any grant of awards under such plan, any grant of options,
awards or restricted shares pursuant to the ESOP and the issuance of Ordinary Shares under such plan or the ESOP, shall not be subject to the approval of holders of the Series B Preferred Shares in this Section 8.3(l); and 

  
 36 

 (m)    other matters that require class voting under the law of the
Cayman Islands. 
 Notwithstanding anything to the contrary contained herein, where any act listed in clauses (a) through (m) above
requires a Special Resolution, and if the Members vote in favor of such act but the approval by holders of at least 66% of the then issued and outstanding Series B Preferred Shares has not yet been obtained, the holders of the Series B Preferred
Shares, in such vote, hold one hundred (100) votes per Series B Preferred Share for the relevant Series B Preferred Shares held thereby and all the other Members shall have one (1) vote for each share held by the respective holder. 

8.4    Matters Requiring Approval by Series C Preferred Holders. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of at least 66% of the then issued and outstanding Series C Preferred Shares, voting as a separate class; provided that (i) such vote or
written consent shall not be required if such actions are for the purpose of completing an IPO and/or pre-IPO financing, and (ii) in the event that any holder of the then issued and outstanding Series C
Preferred Shares fails to participate in the general meeting duly called to approve such action after being notified of the meeting and the agenda in writing by the Company in accordance with the Restated Articles, the number of Series C Preferred
Shares held by such holder shall not be included in calculating the percentage of Series C Preferred Shares the vote or consent of whose holders is required with respect to actions on the agenda: 

(a)    the authorization, creation or issuance of any class or series of securities (or warrants, options or similar
rights to acquire such securities) having any right, preference or priority superior to or on a parity with the Series C Preferred Shares (including any additional Series C Preferred Shares authorized, created or issued after the date hereof); 

(b)    any change in any of the rights, preferences, privileges or powers of, or the restrictions provided for the benefit
of, the holders of Series C Preferred Shares; 
 (c)    merger or consolidation or restructuring or other business
combination of any Group Company with or into any other business entity, immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the voting power of the outstanding share capital of the
surviving company; any transaction or a series of transactions immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the voting power of the outstanding share capital of such Group
Company; any Trade Sale; 
 (d)    any amendment of the Restated Articles or any other constitutional documents of the
Company; 
 (e)    dissolution, liquidation or bankruptcy of any Group Company; 

(f)    any change to the Company’s policy of making dividend distributions in proportion to shareholding percentages
on an as-converted basis; 

  
 37 

 (g)    any material amendment to the Restructuring Documents; 

(h)    any declaration or payment of dividends to the holders of Ordinary Shares; and 

(i)    other matters that require class voting under the law of the Cayman Islands. 

Notwithstanding anything to the contrary contained herein, where any act listed in clauses (a) through (i) above requires a Special
Resolution, and if the Members vote in favor of such act but the approval by holders of at least 66% of the then issued and outstanding Series C Preferred Shares has not yet been obtained, the holders of the Series C Preferred Shares, in such vote,
hold one hundred (100) votes per Series C Preferred Share for the relevant Series C Preferred Shares held thereby and all the other Members shall have one (1) vote for each share held by the respective holder. 

8.5    Matters Requiring Approval by Series D Preferred Holders and Series D+ Preferred Shares. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an as-converted basis), voting as a separate class; provided that (i) such vote or written consent shall not be required if such actions are for the purpose of completing an IPO and/or pre-IPO financing, and (ii) in the event that any holder of the then issued and outstanding Series D Preferred Shares or Series D+ Preferred Shares fails to participate in the general meeting duly called to
approve such action after being notified of the meeting and the agenda in writing by the Company in accordance with the Restated Articles, the number of Series D Preferred Shares or Series D+ Preferred Shares held by such holder shall not be
included in calculating the percentage of Series D Preferred Shares and Series D+ Preferred Shares the vote or consent of whose holders is required with respect to actions on the agenda: 

(a)    the authorization, creation or issuance of any class or series of securities (or warrants, options or similar
rights to acquire such securities) having any right, preference or priority superior to or on a parity with the Series D Preferred Shares or the Series D+ Preferred Shares (including any additional Series D Preferred Shares or Series D+ Preferred
Shares authorized, created or issued after the date hereof but excluding the Series D+ Preferred Shares issued pursuant to Section 13.15); 

(b)    any change in any of the rights, preferences, privileges or powers of, or the restrictions provided for the benefit
of, the holders of Series D Preferred Shares or the Series D+ Preferred Shares; 
 (c)    merger or consolidation or
restructuring or other business combination of any Group Company with or into any other business entity, immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the voting power of the
outstanding share capital of the surviving company; any transaction or a series of transactions immediately after which the existing shareholders of any Group Company hold shares representing less than a majority of the voting power of the
outstanding share capital of such Group Company; any Trade Sale; 

  
 38 

 (d)    any amendment of the Restated Articles or any other
constitutional documents of the Company; 
 (e)    dissolution, liquidation or bankruptcy of any Group Company; 

(f)    any change to the Company’s policy of making dividend distributions in proportion to shareholding percentages
on an as-converted basis; 
 (g)    any material amendment to the Restructuring
Documents; 
 (h)    any declaration or payment of dividends to the holders of Ordinary Shares; 

(i)    the authorization, creation, issuance or sale of any Additional Ordinary Shares for a consideration per share less
than the then existing Conversion Price of Series D+ Preferred Shares; 
 (j)    the authorization, creation, issuance
or sale of any Ordinary Share Equivalents exercisable, convertible or exchangeable for Additional Ordinary Shares and the Effective Conversion Price of such Ordinary Share Equivalents is less than the then existing Conversion Price of Series D+
Preferred Shares; 
 (k)    any change to the composition of the Board; and 

(l)    other matters that require class voting under the law of the Cayman Islands. 

Notwithstanding anything to the contrary contained herein, where any act listed in clauses (a) through (l) above requires a Special
Resolution, and if the Members vote in favor of such act but the approval by holders of at least 66% of the then issued and outstanding Series D Preferred Shares and Series D+ Preferred Shares (voting together on an
as-converted basis) has not yet been obtained, the holders of the Series D Preferred Shares and Series D+ Preferred Shares, in such vote, hold one hundred (100) votes per Series D Preferred Share and
Series D+ Preferred Shares for the relevant Series D Preferred Shares and Series D+ Preferred Shares held thereby and all the other Members shall have one (1) vote for each share held by the respective holder. 

8.6    Matters Requiring Approval by Series D+ Preferred Holders. 

In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall cause
or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment, merger,
consolidation, or otherwise) without first obtaining the vote or written consent of the holders of at least 66% of the then issued and outstanding Series D+ Preferred Shares, voting as a separate class; provided that (i) such vote or
written consent shall not be required if such actions are for the purpose of completing an IPO and/or pre-IPO financing, and (ii) in the event that any holder of the then issued and outstanding Series D+
Preferred Shares fails to participate in the general meeting duly called to approve such action after being notified of the meeting and the agenda in writing by the Company in accordance with the Restated Articles, the number of Series D+ Preferred
Shares held by such holder shall not be included in calculating the percentage of Series D+ Preferred Shares the vote or consent of whose holders is required with respect to actions on the agenda: 

(a)    any change in the liquidation preference of the holders of Series D+ Preferred Shares provided under the Restated
Articles; and 

  
 39 

 (b)    any change in the exit right of the holders of Series D+
Preferred Shares under Section 9.2. 
 Notwithstanding anything to the contrary contained herein, where any act listed in clauses
(a) through (b) above requires a Special Resolution, and if the Members vote in favor of such act but the approval by holders of at least 66% of the then issued and outstanding Series D+ Preferred Shares on a fully diluted basis has not yet
been obtained, the holders of the Series D+ Preferred Shares, in such vote, hold one hundred (100) votes per Series D+ Preferred Share for the relevant Series D+ Preferred Shares held thereby and all the other Members shall have one
(1) vote for each share held by the respective holder. 
 8.7    Matters Requiring Approval by the Board.

 In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, no Group Company shall
cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions (either directly or by amendment,
merger, consolidation, or otherwise) without first being approved by a majority of votes of the Directors (as defined in the Restated Articles) and alternate Directors present at a meeting of the Board at which there is a quorum (unless the relevant
statutes in the Cayman Islands and/or other jurisdiction, and/or the Stock Exchange of Hong Kong Limited require a higher percentage): 

(a)    declaration or payment of any dividend or distribution in cash or species on any class of shares by any Group
Company; 
 (b)    appointment and removal of the chief executive officer and the chief financial officer, any managing
(or executive) director, general manager, chairman, financial controller or other senior management at the level equivalent of or above vice president of any Group Company, and determination of and any change to the terms of employment and
compensation of the foregoing; 
 (c)    establishment of any new direct or indirect Subsidiary and branch of any Group
Company; 
 (d)    adoption and administration of, and any change to the ESOP or any other employee incentive plan of
the Group Companies; 
 (e)    any transaction with any shareholder, director, officer or key management of any Group
Company or any other “connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding RMB 1,000,000, except for the employment by any Group Company of such directors, officers and employees; provided,
however, that any transaction with any shareholder, director, officer or key management of any Group Company or any other “connected person” (as defined in the Listing Rules) of the Group Companies of a value not more than RMB
1,000,000 other than employment by any Group Company of such directors, officers and employees, and the extension of loans to the employees in the ordinary course of business by the Group Companies, shall be reviewed and approved by the chief
executive officer of the Company; 

  
 40 

 (f)    the entry into any single transaction or series of transactions
(other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in which the aggregate payment obligation of the Group Companies thereunder is in excess of RMB30,000,000; provided, however,
that (i) the entry into any single transaction or series of transactions (other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in which the aggregate payment obligation of the Group
Companies thereunder is not more than RMB30,000,000 but in excess of RMB10,000,000 shall be reviewed and approved by the chief executive officer of the Company and the chief financial officer of Kingsoft, and (ii) the entry into any single
transaction or series of transactions (other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in which the aggregate payment obligation of the Group Companies thereunder is not more than
RMB10,000,000 shall be reviewed and approved by the chief executive officer of the Company; provided further, that the aforesaid amounts are only applicable to the year of 2019, and such standard shall be adjusted annually at the
meeting of the Board for the subsequent year; 
 (g)    the approval and amendment to any Group Companies’ annual
capital expenditure and operations budgets and strategic plan, which shall be submitted to the Board for review and approval within forty-five (45) days prior to the end of each fiscal year; 

(h)    any expense or capital expenditure that’s beyond the amount of deviations for any single or series of items of
the budgets as may be allowed in writing by the Board in its approval of the annual or quarterly budgets, or absent of such amount of deviation, any expense or capital expenditure that’s beyond annual or quarterly budgets; 

(i)    the cease of or any material change to any Group Company’s business as it now conducts, or any change to the
scope of business of any Group Company materially different from that described in the then current business plan, or any change to the business undertakings of the Group Companies; 

(j)    the sale or disposal of the whole or a substantial part of the undertaking, goodwill, material permits or assets of
any Group Company; 
 (k)    the approval and alteration of the terms of any bonus or profit sharing scheme; and the
approval, administration and alteration of any employee share option or share participation schemes; 

(l)    incurrence of indebtedness of borrowed money or any financial facilities except pursuant to trade facilities
obtained from banks or other financial institutions in the ordinary course of business; 
 (m)    extension of any loan
or provision of any security, guarantee, indemnity or undertaking to any Person other than a Group Company, except for trade credit and loans to the employees incurred in the ordinary course of business by the Group Companies; 

  
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 (n)    without prejudice to (j) and (o), any sale, transfer, or
disposal of assets of the Group Companies beyond the ordinary course of business, or by any single transaction or series of transactions (other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in
the ordinary course of business in which the aggregate consideration thereunder is in excess of RMB30,000,000; provided, however, that (i) any sale, transfer, or disposal of assets of the Group Companies by any single transaction
or series of transactions (other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in the ordinary course of business in which the aggregate consideration thereunder is not more than RMB30,000,000
but in excess of RMB10,000,000 shall be reviewed and approved by the chief executive officer of the Company and the chief financial officer of Kingsoft, and (ii) any sale, transfer, or disposal of assets of the Group Companies by any single
transaction or series of transactions (other than the “connected transaction” (as defined in the Listing Rules) and capital expenditure) in the ordinary course of business in which the aggregate consideration thereunder is not more than
RMB10,000,000 shall be reviewed and approved by the chief executive officer of the Company; provided further, that the aforesaid amounts are only applicable to the year of 2019, and such standard shall be adjusted annually at the
meeting of the Board for the subsequent year; 
 (o)    any sale, transfer, license, charge, encumbrance or otherwise
disposal of any trademarks, patents or other intellectual property owned by any Group Company, other than non-exclusive licenses granted in the ordinary course of business; 

(p)    purchase of any real property by the Group Companies in excess of RMB2,000,000 during any fiscal year; 

(q)    any mergers or acquisitions of business or entities by the Group Companies; 

(r)    any capital commitment or expenditure, including without limitation to that in connection with construction of
property, purchase of material assets and disposal of fixed assets, by any Group Company in excess of RMB30,000,000; provided, however, that (i) any capital commitment or expenditure, including without limitation to that in
connection with construction of property, purchase of material assets and disposal of fixed assets, by any Group Company not more than RMB30,000,000 but in excess of RMB10,000,000 shall be reviewed and approved by the chief executive officer of the
Company and the chief financial officer of Kingsoft, and (ii) any capital commitment or expenditure, including without limitation to that in connection with construction of property, purchase of material assets and disposal of fixed assets, by
any Group Company not more than RMB10,000,000 shall be reviewed and approved by the chief executive officer of the Company; provided further, that the aforesaid amounts are only applicable to the year of 2019, and such standard shall be
adjusted annually at the meeting of the Board for the subsequent year; 
 (s)    selection of the listing exchange and
approval of the valuation and terms and conditions for the Series B Qualified Public Offering and/or Series C Qualified Public Offering and/or Series D Qualified Public Offering or other public offering of the shares of the Group Companies; 

(t)    adoption of or any amendment to the accounting and financial policies of the Group Companies or any change to the
financial year of the Group Companies; 

  
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 (u)    appointment or removal of the underwriter and/or the auditor of
any Group Company; 
 (v)    approval of any transfer of shares in any Group Company other than any indirect transfer of
shares in the Company through any share transfer in the Management Holdco Restructuring and duly approved transfer of Tranche 2 Management Shares; and 

(w)    disposal or dilution of any Group Company’s direct or indirect interests in any other Group Company. 

8.8    Matters Requiring Approval by IDG Director. 

(a)    In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, so
long as IDG Investor collectively hold Shares representing no less than 3% of the total number of Shares of the Company on a fully-diluted and as-converted basis and the IDG Director has been designated by the
IDG Investor, no Group Company shall cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions
(either directly or by amendment, merger, consolidation, or otherwise) without first obtaining the prior approval of the IDG Director: 

(i)    the sale, exclusive license or otherwise disposal of the whole or a substantial part of the assets of the Group
Companies as a whole in a single or a series of transactions, or creation of any pledge or any other encumbrance over such assets, except for any creation of security interest over fixed assets or any financial leasing arrangement for the purpose of
obtaining debt financing from bank(s) or financial institution(s) for the operation of the Group Companies; 

(ii)    any transaction with any shareholder, director, officer or key management of any Group Company or any other
“connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding US$5,000,000, any amendment to terms of such transactions or termination of such transactions, except for transactions among the Group
Companies and the cooperation with Xiaomi Group as contemplated in Section 12 hereof; and 
 (iii)    an IPO, the
selection of the stock exchange other than the Main Board of the Stock Exchange of Hong Kong Limited, the New York Stock Exchange or the Nasdaq National Market, or setting the valuation of the Group Companies for the purpose of an IPO, in each
case without satisfying the following conditions: 
 (A)    the pre-IPO market
value of the Company or the Listing Vehicle (based upon the price at which shares were offered in the IPO) is no less than US$1,000,000,000 or its equivalent in other currency; and 

(B)    such offering results in gross proceeds of no less than US$100,000,000 to the Company. 

Whether such the conditions are satisfied shall be determined based on the written analysis of a Qualified Investment Bank. 

  
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 (b)    The approval of the IDG Director set forth in Section 8.8(a)
shall not be required if (i) any of the actions set forth in Sections 8.8(a) other than those set forth in Section 8.8(a)(iii) are for the purpose of completing an IPO or (ii) the IDG Director fails to participate in the board meeting
duly called to approve such action after being duly notified in writing by the Company in accordance with the Restated Articles together with a meeting agenda that included such action. 

8.9    Matters Requiring Approval by AMC Director. 

(a)    In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, so
long as AMC Investor holds Shares representing no less than 3% of the total number of Shares of the Company on a fully-diluted and as-converted basis and the AMC Director has been designated by the AMC
Investor, no Group Company shall cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions
(either directly or by amendment, merger, consolidation, or otherwise) without first obtaining the prior approval of the AMC Director: 

(i)    the sale, exclusive license or otherwise disposal of the whole or a substantial part of the assets of the Group
Companies as a whole in a single or a series of transactions, or creation of any pledge or any other encumbrance over such assets, except for any creation of security interest over fixed assets or any financial leasing arrangement for the purpose of
obtaining debt financing from bank(s) or other financial institution(s) for the operation of the Group Companies; 

(ii)    any transaction with any shareholder, director, officer or key management of any Group Company or any other
“connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding US$5,000,000, any amendment to terms of such transactions or termination of such transactions, except for transactions among the Group
Companies and the cooperation with Xiaomi Group as contemplated in Section 12 hereof; and 
 (iii)    the
selection of the stock exchanges in a jurisdiction other than the U.S. (e.g., the New York Stock Exchange or the Nasdaq National Market, etc.) or Hong Kong (e.g., the Main Board of the Stock Exchange of Hong Kong Limited, etc.) or setting the
valuation of the Group Companies for the purpose of an IPO that do not meet the requirements of Series C Qualified Public Offering. 

(b)    The approval of the AMC Director set forth in Section 8.9(a)shall not be required if (i) any of the
actions set forth in Sections 8.9(a) are for the purpose of completing a pre-IPO financing, or any of the actions set forth in Sections 8.9(a)(i) and 8.9(a)(ii) are for the purpose of completing an IPO, or
(ii) the AMC Director fails to participate in the board meeting duly called to approve such action after being duly notified in writing by the Company in accordance with the Restated Articles together with a meeting agenda that included such
action. 
 8.10    Matters Requiring Approval by Minsheng Director.  

(a)    In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, so
long as Minsheng Investor holds Shares representing no less than 4% of the total number of Shares of the Company on a fully-diluted and as-converted basis and the Minsheng Director has been designated by the
Minsheng Investor, no Group Company shall cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following
actions (either directly or by amendment, merger, consolidation, or otherwise) without first obtaining the prior approval of the Minsheng Director: 

  
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 (i)    the sale, exclusive license or otherwise disposal of the whole
or a substantial part of the assets of the Group Companies as a whole in a single or a series of transactions, or creation of any pledge or any other encumbrance over such assets, except for any creation of security interest over fixed assets or any
financial leasing arrangement for the purpose of obtaining debt financing from bank(s) or other financial institution(s) for the operation of the Group Companies; 

(ii)    any transaction with any shareholder, director, officer or key management of any Group Company or any other
“connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding US$5,000,000, any amendment to terms of such transactions or termination of such transactions, except for transactions among the Group
Companies and the cooperation with Xiaomi Group as contemplated in Section 12 hereof; and 
 (iii)    the
selection of the stock exchanges in a jurisdiction other than the U.S. (e.g., the New York Stock Exchange or the Nasdaq National Market, etc.) or Hong Kong (e.g., the Main Board of the Stock Exchange of Hong Kong Limited, etc.) or setting the
valuation of the Group Companies for the purpose of an IPO that do not meet the requirements of Series D Qualified Public Offering. 

(b)    The approval of the Minsheng Director set forth in Section 8.10(a) shall not be required if (i) any of
the actions set forth in Sections 8.10(a) are for the purpose of completing a pre-IPO financing, or any of the actions set forth in Sections 8.10(a)(i) and 8.10(a)(ii) are for the purpose of completing an IPO,
or (ii) the Minsheng Director fails to participate in the board meeting duly called to approve such action after being duly notified in writing by the Company in accordance with the Restated Articles together with a meeting agenda that included
such action. 
 8.11    Matters Requiring Approval by Metawit Director.  

(a)    In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, so
long as Metawit Investor holds Shares representing no less than 4% of the total number of Shares of the Company on a fully-diluted and as-converted basis and the Metawit Director has been designated by the
Metawit Investor, no Group Company shall cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following
actions (either directly or by amendment, merger, consolidation, or otherwise) without first obtaining the prior approval of the Metawit Director: 

(i)    the sale, exclusive license or otherwise disposal of the whole or a substantial part of the assets of the Group
Companies as a whole in a single or a series of transactions, or creation of any pledge or any other encumbrance over such assets, except for any creation of security interest over fixed assets or any financial leasing arrangement for the purpose of
obtaining debt financing from bank(s) or other financial institution(s) for the operation of the Group Companies; 

  
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 (ii)    any transaction with any shareholder, director, officer or key
management of any Group Company or any other “connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding US$5,000,000, any amendment to terms of such transactions or termination of such transactions,
except for transactions among the Group Companies and the cooperation with Xiaomi Group as contemplated in Section 12 hereof; and 

(iii)    the selection of the stock exchanges in a jurisdiction other than the U.S. (e.g., the New York Stock Exchange or
the Nasdaq National Market, etc.) or Hong Kong (e.g., the Main Board of the Stock Exchange of Hong Kong Limited, etc.) or setting the valuation of the Group Companies for the purpose of an IPO that do not meet the requirements of Series D Qualified
Public Offering. 
 (b)    The approval of the Metawit Director set forth in Section 8.11(a) shall not be required
if (i) any of the actions set forth in Sections 8.11(a) are for the purpose of completing a pre-IPO financing, or any of the actions set forth in Sections 8.11(a)(i) and 8.11(a)(ii) are for the
purpose of completing an IPO, or (ii) the Metawit Director fails to participate in the board meeting duly called to approve such action after being duly notified in writing by the Company in accordance with the Restated Articles together with a
meeting agenda that included such action. 
 8.12    Matters Requiring Approval by FutureX Director.  

(a)    In addition to such other limitation as may be provided in the Restated Articles and subject to applicable laws, so
long as FutureX Capital holds Shares representing no less than 4% of the total number of Shares of the Company on a fully-diluted and as-converted basis and the FutureX Director has been designated by Future X
Capital, no Group Company shall cause or permit any resolution at any meeting of its board or shareholders to approve, authorize or ratify, or any agreement or commitment to engage, or otherwise effect or consummate any of the following actions
(either directly or by amendment, merger, consolidation, or otherwise) without first obtaining the prior approval of the FutureX Director: 

(i)    the sale, exclusive license or otherwise disposal of the whole or a substantial part of the assets of the Group
Companies as a whole in a single or a series of transactions, or creation of any pledge or any other encumbrance over such assets, except for any creation of security interest over fixed assets or any financial leasing arrangement for the purpose of
obtaining debt financing from bank(s) or other financial institution(s) for the operation of the Group Companies; 

(ii)    any transaction with any shareholder, director, officer or key management of any Group Company or any other
“connected person” (as defined in the Listing Rules) of the Group Companies of a value exceeding US$5,000,000, any amendment to terms of such transactions or termination of such transactions, except for transactions among the Group
Companies and the cooperation with Xiaomi Group as contemplated in Section 12 hereof; and 
 (iii)    the
selection of the stock exchanges in a jurisdiction other than the U.S. (e.g., the New York Stock Exchange or the Nasdaq National Market, etc.) or Hong Kong (e.g., the Main Board of the Stock Exchange of Hong Kong Limited, etc.) or setting the
valuation of the Group Companies for the purpose of an IPO that do not meet the requirements of Series D Qualified Public Offering. 

  
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 (b)    The approval of the FutureX Director set forth in
Section 8.12(a) shall not be required if (i) any of the actions set forth in Sections 8.12(a) are for the purpose of completing a pre-IPO financing, or any of the actions set forth in Sections
8.12(a)(i) and 8.12(a)(ii) are for the purpose of completing an IPO, or (ii) the FutureX Director fails to participate in the board meeting duly called to approve such action after being duly notified in writing by the Company in accordance
with the Restated Articles together with a meeting agenda that included such action. 
 8.13    Any transaction
involving any Group Company shall be subject to the Listing Rules as applicable to Kingsoft until such Group Company ceases to be a Subsidiary of Kingsoft under the Listing Rules. 

8.14    Term. Other than Section 8.13 above, the provisions of this Section 8 shall terminate upon the
earlier of the completion of an IPO or the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 
  

	 	9.	 LIQUIDITY. 

9.1    Series B Qualified Public Offering. The Company or the Listing Vehicle shall engage a Qualified Investment
Bank for the purpose of analyzing whether the Company or the Listing Vehicle meets the requirements of the Series B Qualified Public Offering if the IDG Investor reasonably believes that the Company or the Listing Vehicle has met the requirements of
the Series B Qualified Public Offering and makes such request, but no more than once a year. If (a) the Company or the Listing Vehicle meets the requirements of the Series B Qualified Public Offering according to the written analysis of such
Qualified Investment Bank and (b) the IDG Investor requests that the Group Companies initiate the preparation for an IPO, the Group Companies shall use their best efforts to prepare and consummate a Series B Qualified Public Offering in the
best interest of the Group Companies and each of the shareholders of the Company shall, and shall procure that its Affiliates and the director(s) it appointed will, do and perform, or cause to be done and performed, all such acts and things, and
shall execute and deliver all such agreements, certificates, instruments or documents, as the Group Companies may reasonably request in order to prepare and consummate the Series B Qualified Public Offering, including, without limitation, promptly
furnishing necessary information, signing lock-up letters as reasonably requested by the underwriters and making reasonable efforts to cooperate with the Company to apply for all approvals, consents,
registrations or filings from any relevant governmental authority and listing exchange. 
 9.2    Exit Right.

 (a)    Exit Right of Holders of the Series B Preferred Shares 

(i)    In the event that the Company or the Listing Vehicle meets the requirements of the Series B Qualified Public
Offering according to the written analysis of a Qualified Investment Bank, and such Series B Qualified Public Offering has failed to be consummated as a result of Kingsoft’s voluntary refusal to approve or consent to such offering for any
reason other than the reasons of the market, price, compliance requirements applicable to Kingsoft as a Hong Kong Main Board listing company (including but not limited to the failure to obtain the approval of the majority shareholders of Kingsoft
(without any fault of Kingsoft) if required under the Listing Rules) or any other objective cause (due to such reasons, consummating such offering as then proposed is reasonably expected not to be in the best interest of the Company and its
shareholders), the IDG Investor, in its capacity as a holder of the Series B Preferred Shares, shall have the right, but not the obligation, within fifteen (15) Business Days after the date on which Kingsoft refuses to approve or consent to
such offering, to require Kingsoft to purchase all of the Series B Preferred Shares held by the IDG Investor at the Series B Fair Market Value of such Series B Preferred Shares. Kingsoft shall complete such purchase and make full payment to the
IDG Investor within thirty (30) Business Days after the date on which the IDG Investor delivers a notice of exercise of its right under this Section 9.2(a) to Kingsoft. 

  
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 (ii)    In the event that the Company or the Listing Vehicle meets the
requirements of the Series B Qualified Public Offering according to the written analysis of a Qualified Investment Bank, if the proposal of an IPO (the “IPO Proposal”) needs to be approved by the shareholders of Kingsoft under the
Listing Rules (in which case the shareholders of Kingsoft shall have the absolute rights to approve or disapprove the IPO Proposal) after other applicable corporate approvals of the Company have been obtained, Kingsoft shall convene a
shareholders’ meeting as soon as possible when such written analysis of a Qualified Investment Bank is provided to the Company, and shall convene the second and third shareholders’ meetings promptly after a shareholders meeting if the IPO
Proposal is not approved at such shareholders’ meeting. Kingsoft shall use its best efforts to convene such shareholders’ meetings as soon as practicable in compliance with the applicable laws. In the event that the IPO Proposal is not
approved by the shareholders of Kingsoft as required under the Listing Rules for three times, the IDG Investor shall have the right, but not the obligation, within fifteen (15) Business Days after the date on which such IPO Proposal fails to be
approved by the shareholders of Kingsoft for the third time, to require the Company to procure, by coordinating with other shareholders of the Company, securing other investors or otherwise, the purchase of all of the Series B Preferred Shares held
by the IDG Investor at a price per share (“Series B Redemption Price”) equal to the lower of (i) the Series B Fair Market Value of such Series B Preferred Share or (ii) the applicable Preferred Shares Issue Price (as
defined in the Restated Articles) of such Series B Preferred Shares. The Company shall take all actions necessary in order to procure the completion of such purchase and the making of full payment to the IDG Investor, within one hundred and eighty
(180) days after the date on which the IPO Proposal fails to be approved by the shareholders of Kingsoft for the third time. In the event that such share purchase has not been completed by one hundred and eighty (180) days after the date
on which the IPO Proposal fails to be approved by the shareholders of Kingsoft for the third time, Kingsoft shall purchase all the Series B Preferred Shares held by the IDG Investor at the above-mentioned price within thirty (30) Business Days
after the expiration of such one hundred and eighty (180) day period. 
 (iii)    The Independent Valuer shall
determine the fair market value on the basis of an arms-length transaction on the open market between a willing buyer and a willing seller; provided, further, that the determination of the Independent Valuer shall, in the absence of
manifest error or fraud, be binding upon the parties and the cost thereof shall be borne by the Company. 
 (b)    Exit
Right of Holders of Series C Preferred Shares 
 (i)    Prior to an IPO, if (x) an IPO has yet to complete (if the
IPO is proposed to be undertaken in the Chinese A Share Market, then the application has yet to be submitted) within five (5) years upon the May 16, 2016; or (y) any of the holders of the Series B Preferred Shares has requested the
Company to purchase the Series B Preferred Shares held by it pursuant to Section 9.2(a), then holders of the Series C Preferred Shares shall be entitled to request the Company to, in case of (x) above, purchase the Series C Preferred
Shares held by them respectively within six (6) months upon the fifth (5th) anniversary of May 16, 2016, or, in case of (y) above, purchase the Series C Preferred Shares held by
them respectively within six (6) months upon the date on which any of the holders of the Series B Preferred Shares has requested the Company the purchase the Series B Preferred Shares held by it pursuant to Section 9.2(a). 

  
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 (ii)    If the IPO is proposed to be undertaken in the Chinese A Share
Market and the application for such IPO has been submitted within five (5) years upon May 16, 2016 but the approval for such IPO has not been approved by the competent PRC governmental authority, then the Company shall promptly seek other
applicable stock exchange in other jurisdictions to undertake the IPO pursuant to the Board’s instructions and complete the restructuring as well as the IPO as soon as possible. If such IPO has yet to be completed within twenty-four
(24) months upon the date on which the approval of the IPO application in the Chinese A Share Market is confirmed as not being able to be secured, then holders of the Series C Preferred Shares shall be entitled to request the Company to
purchase the Series C Preferred Shares held by them respectively within three (3) months upon the expiration of the aforementioned twenty-four (24) months period. 

(iii)    The purchase price per share (the “Series C Redemption Price”) for the Company
to purchase the Series C Preferred Shares upon exercising the exit right by the holders of the Series C Preferred Shares respectively pursuant to Section 9.2(b) shall be the applicable Preferred Shares Issue Price of the Series C Preferred
Shares and a return at the compound rate of 8% per annum calculated from the date of the actual issuance of such Series C Preferred Shares to the date on which such holder of the Series C Preferred Shares elects to exercise its exit right pursuant
to this Section 9.2(b) plus all declared but unpaid dividends on the respective Series C Preferred Shares held by the holder thereof requested to be purchased pursuant to this Section 9.2(b). The Company shall make the full payment of the
purchase price in cash to the holders of the Series C Preferred Shares within twenty (20) Business Days upon exercising of the exit right by them pursuant to this Section 9.2(b). If the Company does not have sufficient funds to make full
payment of the purchase price within twenty (20) Business Days upon exercising of the exit right by them pursuant to this Section 9.2(b), then (A) the holders of the Series C Preferred Shares shall have the right to sell the Series C
Preferred Shares requested by such holders to be purchased by the Company but the corresponding consideration has yet to be paid-up pursuant to this Section 9.2(b) respectively to any third party buyer
other than the Competitor or any Person in competition with Kingsoft and its Subsidiaries (other than the Group Companies) without being subject to Section 4.2 and 4.3 hereof; provided that such third party buyer shall agree in writing
to be bound by the Transaction Documents and replace such holders as a party to such Transaction Documents with respect to the Series C Preferred Shares purchased by such third party buyer, and (B) the unpaid portion of the purchase price plus
the corresponding late payment interests (at an annual single interest rate of 8%) shall be fully paid up within eighteen (18) months upon exercising of the exit right by the holders of the Series C Preferred Shares pursuant to
Section 9.2(b). However, if the purchase price plus the corresponding late payment interests have yet to be fully paid up upon the expiration of the aforementioned eighteen (18)-month period, the holders of the Series C Preferred Shares shall
have the right to request the Company to immediately enter into a liquidation process and make distributions subject to Section 2 of Schedule A under the Restated Articles. 

(c)    Exit Right of Holders of Series D Preferred Shares 

  
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 (i)    If (x) Series D Qualified Public Offering has not completed
on or prior to the fifth (5th) anniversary of May 16, 2016; or (y) any of the holders of the Series B Preferred Shares has requested the Company to purchase the Series B Preferred Shares held by it pursuant to Section 9.2(a); or
(z) any of the holders of the Series C Preferred Shares has requested the Company to purchase the Series C Preferred Shares held by it pursuant to Section 9.2(b), then each holder of the Series D Preferred Shares shall be entitled to
request the Company to, in case of (x) above, purchase the Series D Preferred Shares held by it within six (6) months after the fifth (5th) anniversary of May 16, 2016, or, in case
of (y) above, purchase the Series D Preferred Shares held by it within six (6) months after the date any of the holders of the Series B Preferred Shares has requested the Company to purchase the Series B Preferred Shares held by it
pursuant to Section 9.2(a), or in case of (z) above, purchase the Series D Preferred Shares held by it within six (6) months after the date any of the holders of the Series C Preferred Shares has requested the Company to purchase the
Series C Preferred Shares held by it pursuant to Section 9.2(b). 
 (ii)    The purchase price per share (the
“Series D Redemption Price”) for the Company to purchase the Series D Preferred Shares upon exercising the exit right by any holder of the Series D Preferred Shares pursuant to Section 9.2(c) shall be the applicable
Preferred Shares Issue Price of the Series D Preferred Shares and a return at the compound rate of 8% per annum calculated from the date of the actual issuance of such Series D Preferred Shares (with respect to the Series D Preferred Shares
acquired by the holder thereof by exercise of the Minsheng Warrant, from the effective date of the Minsheng Warrant) to the date on which such holder of the Series D Preferred Shares elects to exercise its exit right pursuant to this
Section 9.2(c) plus all declared but unpaid dividends on the respective Series D Preferred Shares held by the holder thereof requested to be purchased pursuant to this Section 9.2(c). The Company shall make the full payment of the purchase
price in cash to each holder of the Series D Preferred Shares within twenty (20) Business Days after the exercise of the exit right by such holder pursuant to this Section 9.2(c). 

(iii)    If the Company’s assets or funds which are legally available on the date any redemption payment under this
Section 9.2(c) is due are insufficient to pay in full all redemption payments to be paid within the period ascribed herein, the redemption right of Series D Preferred Shares shall be senior and in preference to, and shall be satisfied before
the redemption right of the Series C Preferred Shares, the Series B Preferred Shares, the Series A Preferred Shares, the Ordinary Shares and any other securities of the Company (other than the Series D+ Preferred Shares). 

(iv)    If the Company does not have sufficient funds to make full payment of the Series D Redemption Price within twenty
(20) Business Days upon exercising of the exit right by them pursuant to this Section 9.2(c), then (A) the holders of the Series D Preferred Shares shall have the right to sell the Series D Preferred Shares requested by such holders
to be purchased by the Company but the corresponding consideration has yet to be paid-up pursuant to this Section 9.2(c) respectively to any third party buyer other than the Competitor or any Person in
competition with Kingsoft and its Subsidiaries (other than the Group Companies) without being subject to Section 4.2 and 4.3 hereof; provided that such third party buyer shall agree in writing to be bound by the Transaction Documents and
replace such holders as a party to such Transaction Documents with respect to the Series D Preferred Shares purchased by such third party buyer, and (B) the unpaid portion of the purchase price plus the corresponding late payment interests (at
an annual single interest rate of 8%) shall be fully paid up within eighteen (18) months after the exercise of the exit right by the holders of the Series D Preferred Shares pursuant to Section 9.2(c). However, if the purchase price plus
the corresponding late payment interests have yet to be fully paid up upon the expiration of the aforementioned eighteen (18)–month period, the holders of the Series D Preferred Shares shall have the right to request the Company to immediately
enter into a liquidation process and make distributions subject to Section 2 of Schedule A under the Restated Articles. 

  
 50 

 (d)    Exit Right of Holders of Series D+ Preferred Shares 

(i)    If (w) Series D Qualified Public Offering has not completed on or prior to the fifth (5th) anniversary of
May 16, 2016; or (x) any of the holders of the Series B Preferred Shares has requested the Company to purchase the Series B Preferred Shares held by it pursuant to Section 9.2(a); or (y) any of the holders of the Series C
Preferred Shares has requested the Company to purchase the Series C Preferred Shares held by it pursuant to Section 9.2(b); or (z) any of the holders of the Series D Preferred Shares has requested the Company to purchase the Series D
Preferred Shares held by it pursuant to Section 9.2(c), then each holder of the Series D+ Preferred Shares shall be entitled to request the Company to, in case of (w) above, purchase the Series D+ Preferred Shares held by it within six
(6) months after the fifth (5th) anniversary of May 16, 2016, or, in case of (x) above, purchase the Series D+ Preferred Shares held by it within six (6) months after the date
any of the holders of the Series B Preferred Shares has requested the Company to purchase the Series B Preferred Shares held by it pursuant to Section 9.2(a), or in case of (y) above, purchase the Series D+ Preferred Shares held by it
within six (6) months after the date any of the holders of the Series C Preferred Shares has requested the Company to purchase the Series C Preferred Shares held by it pursuant to Section 9.2(b), or in case of (z) above, purchase the
Series D+ Preferred Shares held by it within six (6) months after the date any of the holders of the Series D Preferred Shares has requested the Company to purchase the Series D Preferred Shares held by it pursuant to Section 9.2(c). 

(ii)    The purchase price per share (the “Series D+ Redemption Price”) for the Company to
purchase the Series D+ Preferred Shares upon exercising the exit right by any holder of the Series D+ Preferred Shares pursuant to Section 9.2(d) shall be the applicable Preferred Shares Issue Price of the Series D+ Preferred Shares and a
return at the compound rate of 8% per annum calculated from the date of the actual issuance of such Series D+ Preferred Shares to the date on which such holder of the Series D+ Preferred Shares elects to exercise its exit right pursuant to this
Section 9.2(d) plus all declared but unpaid dividends on the respective Series D+ Preferred Shares held by the holder thereof requested to be purchased pursuant to this Section 9.2(d). The Company shall make the full payment of the
purchase price in cash to each holder of the Series D+ Preferred Shares within twenty (20) Business Days after the exercise of the exit right by such holder pursuant to this Section 9.2(d). 

(iii)    If the Company’s assets or funds which are legally available on the date any redemption payment under this
Section 9.2(d) is due are insufficient to pay in full all redemption payments to be paid within the period ascribed herein, the redemption right of Series D+ Preferred Shares shall be senior and in preference to, and shall be satisfied before
the redemption right of the Series D Preferred Shares, the Series C Preferred Shares, the Series B Preferred Shares, the Series A Preferred Shares, the Ordinary Shares and any other securities of the Company. 

(iv)    If the Company does not have sufficient funds to make full payment of the Series D+ Redemption Price within
twenty (20) Business Days upon exercising of the exit right by them pursuant to this Section 9.2(d), then (A) the holders of the Series D+ Preferred Shares shall have the right to sell the Series D+ Preferred Shares requested by such
holders to be purchased by the Company but the corresponding consideration has yet to be paid-up pursuant to this Section 9.2(c) respectively to any third party buyer other than the Competitor or any
Person in competition with Kingsoft and its Subsidiaries (other than the Group Companies) without being subject to Sections 4.2 and 4.3 hereof; provided that such third party buyer shall agree in writing to be bound by the Transaction Documents and
replace such holders as a party to such Transaction Documents with respect to the Series D+ Preferred Shares purchased by such third party buyer, and (B) the unpaid portion of the purchase price plus the corresponding late payment interests (at
an annual single interest rate of 8%) shall be fully paid up within eighteen (18) months after the exercise of the exit right by the holders of the Series D+ Preferred Shares pursuant to Section 9.2(d). However, if the purchase price plus
the corresponding late payment interests have yet to be fully paid up upon the expiration of the aforementioned eighteen (18)–month period, the holders of the Series D+ Preferred Shares shall have the right to request the Company to immediately
enter into a liquidation process and make distributions subject to Section 2 of Schedule A under the Restated Articles. 

  
 51 

 (e)    The parties hereby agree that if the Board, acting in good
faith, reasonably believes that undertaking an IPO of the Company in the main board of the Chinese A Share Market will be to the best interests of the Company, then the Company shall as soon as practicable undertake the relevant restructuring
pursuant to the Board decisions. 
 (f)    The Company hereby agrees to use its commercially best efforts to
(i) perform its obligations under this Section 9.2, and (ii) ensure that each holder of a particular series or class of Shares will be treated fairly and equitably with the other holder(s) of such series or class of Shares for
purposes of this Section 9.2. 
 9.3    Term. The provisions of this Section 9 shall terminate upon the
earlier of the completion of an IPO or the date required by the applicable securities laws and the listing rules in the jurisdiction where the Company conducts an IPO. 
  

	 	10.	 [Intentionally Left Blank] 

 

	 	11.	 ESOP. 

11.1    The parties acknowledge that the Company has (i) established the ESOP with the approval of the Board in
accordance with the Prior Shareholders Agreement, (ii) reserved for issuance or issued as restricted shares or share options an aggregate of 425,126,304 Ordinary Shares under the ESOP, of which (a) 209,750,000 Ordinary Shares have been reserved
for the issuance of share options pursuant to the Share Option Scheme (including 28,674,875 Ordinary Shares held by the Trustee and 33,605,125 Ordinary Shares held by the Officer Holdco pursuant to the ESOP), (b) 211,776,304 Ordinary Shares have
been issued to the Trustee as restricted shares pursuant to the Share Award Scheme, and (c) 3,600,000 Ordinary Shares have been issued to the Management Holdco and indirectly held by Mr. Wang Yulin (王育林) as restricted shares pursuant to the Share Award Scheme . Subject to the terms and conditions of the Share Option
Scheme approved by the Board, the price at which a grantee may subscribe for shares on exercise of any share option issued under the Share Option Scheme shall be determined based on the valuation of the Company at the time of the grant of such share
option. 
 11.2    The parties acknowledge that the Officer Holdco and the Management Holdco collectively hold
33,605,125 Ordinary Shares awarded to the Officer under the Share Award Scheme or acquired by the Officer through exercise of the option granted to him under the Share Option Scheme (collectively, the “Officer ESOP Shares”).
Notwithstanding anything to the contrary contained herein, the transfer restrictions specifically imposed on the Officer Holdco or the Management Holdco under Section 4.5 shall not apply to the transfer or other disposal of the Officer ESOP
Shares for so long as the transfer or other disposal of such Officer ESOP Shares is subject to the Share Award Scheme or the Share Option Scheme.  

  
 52 

	 	12.	 ADDITIONAL COVENANTS. 

12.1     The Group Companies hereby agree and promise to provide cloud storage and cloud computing services to Xiaomi and
its Subsidiaries (the “Xiaomi Group”), and shall use their best commercial efforts to maintain the stability and sustainability of such services, with the reasonable price determined: 

(a)    based on the fair market price determination methods in the cloud storage and cloud computing industry; 

(b)    based on the total cost of the Group Companies incurred in provision of such services plus reasonable profits;
and/or 
 (c)    with reference to the prices and/or reasonable profits of independent third parties. 

12.2    Subject to the Group Companies’ due provision of cloud storage and cloud computing service to Xiaomi Group
with reasonable prices determined pursuant to Section 12.1 above, Xiaomi shall procure and ensure that seventy percent (70%) of the cloud storage and cloud computing services used by Xiaomi Group in their MIUI image storage business are
purchased from the Group Companies. 
  

	 	13.	 GENERAL PROVISIONS. 

13.1    Notices. Except as may be otherwise provided herein, all notices, requests, waivers and other communications
made pursuant to this Agreement shall be in writing and shall be conclusively deemed to have been duly given (a) when hand delivered to the other party, upon delivery; (b) when sent by facsimile at the number set forth in Exhibit B hereto,
upon receipt of confirmation of error-free transmission; (c) when sent by email, on the date of successful transmission at the email address set forth in Exhibit B hereto, provided that the sending party’s system indicated successful
transmission or the sending party has not received a system message within 24 hours indicating failure of delivery or return of email; (d) seven (7) Business Days after deposit in the mail as air mail or certified mail, receipt requested,
postage prepaid and addressed to the other party as set forth in Exhibit B; or (e) three (3) Business Days after deposit with an overnight delivery service, postage prepaid, addressed to the parties as set forth in Exhibit B with next
Business Day delivery guaranteed; provided that the sending party receives a confirmation of delivery from the delivery service provider. 

Each Person making a communication hereunder by facsimile shall promptly confirm by telephone to the Person to whom such communication was
addressed each communication made by it by facsimile pursuant hereto but the absence of such confirmation shall not affect the validity of any such communication. A party may change or supplement the addresses given above, or designate additional
addresses, for purposes of this Section 13.1 by giving the other party written notice of the new address in the manner set forth above. 

  
 53 

 13.2    Entire Agreement. This Agreement, together with all the
exhibits hereto and other Transaction Documents, constitute and contain the entire agreement and understanding of the parties with respect to the subject matter hereof and supersedes any and all prior negotiations, correspondence, agreements,
understandings, duties or obligations between the parties respecting the subject matter hereof. This Agreement supersedes and replaces the Prior Shareholders Agreement in its entirety. 

13.3    Right of Shareholders. For the avoidance of doubt, (i) Kingsoft shall be deemed as a holder of
Ordinary Shares only with respect to the Ordinary Shares held by it, and shall be deemed as a holder of Series A Preferred Shares or Series A Preferred Holder only with respect to the Series A Preferred Shares held by it, and shall be deemed as
a holder of Series B Preferred Shares or Series B Preferred Holder only with respect to the Series B Preferred Shares held by it, and shall be deemed as a holder of Series C Preferred Shares or Series C Preferred Holder only with respect to the
Series C Preferred Shares held by it, and shall be deemed as a holder of Series D Preferred Shares or Series D Preferred Holder only with respect to the Series D Preferred Shares held by it; (ii) Xiaomi shall be deemed as a holder of
Ordinary Shares only with respect to the Ordinary Shares held by it, and shall be deemed as a holder of Series A Preferred Shares or Series A Preferred Holder only with respect to the Series A Preferred Shares held by it; (iii) the IDG Investor
shall be deemed as a holder of Series B Preferred Shares or Series B Preferred Holder only with respect to the Series B Preferred Shares held by it, and shall be deemed as a holder of Series C Preferred Shares or Series C Preferred Holder only with
respect to the Series C Preferred Shares held by it; and (iv) FutureX Capital shall be deemed as a holder of Series C Preferred Shares or Series C Preferred Holder only with respect to the Series C Preferred Shares held by it, and shall be
deemed as a holder of Series D Preferred Shares or Series D Preferred Holder only with respect to the Series D Preferred Shares held by it; provided that each of Kingsoft, Xiaomi and the IDG Investor shall not be deemed as a Right Holder
or Tag-Along Right Holder under Sections 4.1, 4.2 and 4.3, as applicable, if it is a Selling Shareholder or Selling Preferred Shareholder under Sections 4.1 and 4.2, as applicable. For the purpose of an IPO,
any or all of the preferred or special rights hereunder of the Preferred Holders shall terminate upon the earlier of the completion of an IPO or the date required by the applicable securities laws and the listing rules in the jurisdiction where the
Company conducts an IPO (the “Termination Date”); provided that, in the event that the IPO does not complete within twelve (12) months after the Termination Date, each of the Group Companies shall take all
such actions as necessary or desirable to restore all the rights and privileges of the Preferred Holders contained herein, including without limitation (i) causing the Company to amend the Restated Articles, (ii) causing the Company to
issue to the Preferred Holders applicable class and number of shares of the Company, and (iii) entering into agreements containing substantially the same terms and conditions hereof. 

13.4    Governing Law. This Agreement shall be governed by and construed exclusively in accordance the laws of Hong
Kong without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the laws of Hong Kong to the rights and duties of the parties hereunder. 

13.5    Severability. If any provision of this Agreement is found to be invalid or unenforceable, then such
provision shall be construed, to the extent feasible, so as to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally set forth herein, and if no
feasible interpretation would save such provision, it shall be severed from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the parties. In
such event, the parties shall use best efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most closely effects the parties’ intent in entering into this Agreement. 

  
 54 

 13.6    Third Parties. Nothing in this Agreement, express or
implied, is intended to confer upon any Person, other than the parties hereto and their permitted successors and assigns any rights or remedies under or by reason of this Agreement. 

13.7    Successors and Assigns. Except otherwise expressly provided herein, the provisions hereof shall inure to
the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties. 

13.8    Interpretation; Captions. This Agreement shall be construed according to its fair language. The rule of
construction to the effect that ambiguities are to be resolved against the drafting party shall not be employed in interpreting this Agreement. The captions to sections of this Agreement have been inserted for identification and reference purposes
only and shall not be used to construe or interpret this Agreement. 
 13.9    Counterparts. This Agreement may
be executed in eighteen counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile and e-mailed copies of signatures shall be
deemed to be originals for purposes of the effectiveness of this Agreement. 
 13.10    Adjustments for Share Splits,
etc. Wherever in this Agreement there is a reference to a specific number of Shares, then, upon the occurrence of any subdivision, combination or share dividend of the Ordinary Shares, the specific number of Shares so referenced in this
Agreement shall automatically be proportionally adjusted to reflect the effect on the issued and outstanding Shares of such class or series of Shares by such subdivision, combination or share dividend (calculated on an
as-converted basis). 
 13.11    Aggregation of Shares. All Ordinary
Shares held or acquired by affiliated entities or Persons shall be aggregated together for the purpose of determining the availability of any rights under the Transaction Documents or any applicable laws; provided that the Ordinary Shares
held or acquired by Xiaomi and those held or acquired by Kingsoft, Mr. ZHANG Hongjiang, the Officer Holdco and the Management Holdco shall not be aggregated together for the purpose of determining the availability of any rights under the
Transaction Documents or any applicable laws. All Shares held or acquired by FutureX Capital 1, FutureX Capital 2, FutureX Capital 3 and FutureX Capital 4 shall be aggregated together for the purpose of determining the availability of any rights to
FutureX Capital under the Transaction Documents or under any applicable laws. 
 13.12    Shareholders Agreement to
Control. If and to the extent that there are inconsistencies between the provisions of this Agreement and those of the Restated Articles and any other Transaction Document, the terms of this Agreement shall control among the parties to this
Agreement (other than the Company). The parties (other than the Company) hereto agree to take all actions necessary or advisable, as promptly as practicable after the discovery of such inconsistency, to amend the Restated Articles to the fullest
extent permissible by law so as to eliminate such inconsistency. 
 13.13    Dispute Resolution. All disputes and
controversies arising out of or in connection with this Agreement shall be referred to and finally settled by arbitration at Hong Kong International Arbitration Centre in accordance with the UNCITRAL Arbitration Rules (the “UNCITRAL
Rules”) in effect, which rules are deemed to be incorporated by reference into this Section 13.13. The arbitration tribunal shall consist of three (3) arbitrators. The Claimant(s) shall jointly select one (1) arbitrator, the
Respondent(s) shall jointly select one (1) arbitrator and the parties hereto shall jointly select one (1) arbitrator. In the event that the IDG Investor and/or the AMC Investor is acting as one of the Claimants or Respondents, the
arbitrator selected by such Claimants or Respondents shall be subject to the prior approval of the IDG Investor and/or the AMC Investor. All selection shall be made within thirty (30) days after a party gives the other parties the demand for
arbitration. The Chairman of Hong Kong International Arbitration Centre shall select the third arbitrator if the parties hereto fail to reach an agreement regarding selection of such arbitrator within such
thirty-day period. The language of the arbitration shall be English. 

  
 55 

 13.14    FutureX Proxy. FutureX Capital 1, FutureX Capital 2,
FutureX Capital 3 and FutureX Capital 4 hereby agree and jointly and severally undertake and covenant to the other parties that: 

(a)    by signing this Agreement, each of FutureX Capital 1, FutureX Capital 3 and FutureX Capital 4 hereby irrevocably
and unconditionally designates and appoints FutureX Capital 2 its true and lawful attorney, in its name, execute, sign and file any agreements, instruments, documents or certificates and do all acts and things that FutureX Capital 2 may consider, in
its sole discretion, to be necessary or desirable for purposes of carrying out the intent of, and giving full effect to, the provisions and purposes of the Transaction Documents, including without limitation the exercise of any right and the
performance of any obligation of FutureX Capital 1, FutureX Capital 3 and FutureX Capital 4 under the Transaction Documents and any applicable laws, and the sale, transfer or otherwise disposal of any and all Shares held by FutureX Capital 1,
FutureX Capital 3 and FutureX Capital 4; 
 (b)    by signing this Agreement, each of FutureX Capital 1, FutureX Capital
3 and FutureX Capital 4 hereby irrevocably and unconditionally appoints and constitutes FutureX Capital 1 or any person nominated by FutureX Capital 2, as its proxy, to vote all Shares then held by FutureX Capital 1, FutureX Capital 3 and FutureX
Capital 4 on behalf of FutureX Capital 1, FutureX Capital 3 and FutureX Capital 4 at any shareholder meeting of the Company (and at any adjournment thereof) held at any time and in any manner or direction as FutureX Capital 2 may deem fit in its
sole discretion; 
 (c)    the power of attorney and proxy constituted and granted pursuant to this Section 13.14
are coupled with an interest, shall extend to the successors and assigns of FutureX Capital 1, FutureX Capital 3 and FutureX Capital 4, and shall not be revoked without the prior written consent of the Company; and 

(d)    the parties hereto other than FutureX Capital shall be entitled to rely, without further enquiry or investigation,
on all documents supplied or acts done by FutureX Capital 2 pursuant to the power of attorney and proxy constituted and granted above which shall be conclusively binding on FutureX Capital 1, FutureX Capital 3 and FutureX Capital 4. 

— REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK — 

  
 56 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 GROUP COMPANIES
  

	KINGSOFT CLOUD HOLDINGS LIMITED
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Director

  

			
	 KINGSOFT CLOUD CORPORATION LIMITED
  

	By:	 	 /s/ Ng Yuk Keung

	Name: Ng Yuk Keung
	Title: Director

  

			
	 KINGSOFT CLOUD INC.
  

	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Director

  

			
	BEIJING JINSHANYUN TECHNOLOGY CO., LTD. (北京金山云科技有限公司)
	
	 /s/ Seal of Beijing Kingsoft Cloud Technology Co., Ltd.

 

	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	 BEIJING YUNXIANGZHISHENG TECHNOLOGY CO., LTD
(北京云享智胜科技有限公司
) 
  
 /s/
Seal of Beijing Yunxiang Zhisheng Technology Co., Ltd.
  

	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	ZHUHAI JINSHANYUN TECHNOLOGY CO., LTD. (珠海金山云科技有限公司) 
	
	/s/ Seal of Zhuhai Kingsoft Cloud Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	 JINSHANYUN (BEIJING) INFORMATION TECHNOLOGY CO., LTD.
(金山云(北京)信息技术有限公司
)
  
 /s/ Seal of Kingsoft Cloud (Beijing) Information
Technology Co., Ltd.

		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	BEIJING JINSHANYUN INTERNET TECHNOLOGY CO., LTD.
(北京金山云网络技术有限公司)
	
	/s/ Seal of Beijing Kingsoft Cloud Network Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	BEIJING JINXUN RUIBO INTERNET TECHNOLOGY CO., LTD.
(北京金迅瑞博网络技术有限公司) 
	
	/s/ Seal of Beijing Jinxun Ruibo Network Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	SHANGHAI RUIDIAN NETWORK TECHNOLOGY CO., LTD. (上海锐巅网络科技有限公司) 
	
	/s/ Seal of Shanghai Ruidian Network Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	NANJING QIANYI SHIXUN INFORMATION TECHNOLOGY CO., LTD.
(南京仟壹视讯信息技术有限公司) 
	
	/s/ Seal of Nanjing Qianyi Shixun Information Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	SUZHOU YUNXIANG ZHISHENG INTERNET TECHNOLOGY CO., LTD.
(宿州云享智胜网络技术有限公司) 
	
	/s/ Seal of Suzhou Yunxiang Zhisheng Network Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

  

			
	HAINAN CHENGMAI YUNXIANG ZHISHENG INTERNET TECHNOLOGY CO., LTD.
(海南澄迈云享智胜网络技术有限公司)

	
	/s/ Seal of Hainan Chengmai Yunxiang Zhisheng Network Technology Co., Ltd.
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Legal Representative

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	MAJORITY SHAREHOLDERS:
	
	KINGSOFT CORPORATION LIMITED
		
	By:	 	 /s/ Ng Yuk Keung

	Name: Ng Yuk Keung
	Title: Director

  

			
	ZHANG HONGJIANG (张宏江)
		
	By:	 	 /s/ Hongjiang Zhang

  

			
	AUTOGOLD LIMITED
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin
	Title: Director

  

			
	WANG Yulin (王育林)
		
	By:	 	/s/ WANG Yulin

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	TMF Trust (HK) Limited
		
	By:	 	 /s/ Yeu Chi Fai / Liu Kin Wai

	Name: Yeu Chi Fai / Liu Kin Wai
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 MANAGEMENT HOLDCO:
  

	RIVER JADE HOLDINGS LIMITED
		
	By:	 	 /s/ WANG Yulin

	Name: WANG Yulin (王育林)
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 XIAOMI CORPORATION
  

	By:	 	 /s/ Chew Shou Zi

	Name: Chew Shou Zi
	Title: CFO

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 IDG INVESTOR:
  

	 CELESTIAL POWER LIMITED
  

	By:	 	 /s/ Chi Sing Ho

	Name: Chi Sing Ho
	Title: Authorised Signatory

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 AMC INVESTOR:
  

	 CHINAAMC SPECIAL INVESTMENT LIMITED
  

	By:	 	 /s/ Xiaoling Zhang

	Name: Xiaoling Zhang
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 CM INVESTOR:
  

	BUDDIES TEAM LIMITED
		
	By:	 	 /s/ Vivien Wong

	Name: Vivien Wong
	 Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	METAWIT INVESTOR:
	
	 METAWIT Capital L.P.

(元慧资本有限合伙)

		
	By:	 	 /s/ Tseng, Kuo-Lung

	Name: Tseng, Kuo-Lung
	Title: Authorized Signatory of METAWIT Management Ltd acting as General Partner for and on behalf of METAWIT Capital L.P.

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	MINSHENG INVESTOR:
	
	NEW CLOUD LTD.
		
	By:	 	 /s/ Dingzhe Liu

	Name: Dingzhe Liu
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 SHUNWEI INVESTOR:
  

	Shunwei Growth III Limited
		
	By:	 	 /s/ Tuck Lye KOH

	Name: Tuck Lye KOH
	 Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 FOREBRIGHT INVESTOR:
  

	PRECIOUS STEED LIMITED
		
	By:	 	 /s/ Ip Kun Wan

	Name: Ip Kun Wan
	 Title: Authorised Signature

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 FUTUREX CAPITAL:
  

	FUTUREX INNOVATION SPC - Special Opportunity Fund VI SP
		
	By:	 	 /s/ Zhang Qian

	Name: Zhang Qian
	Title: Director

  

			
	FutureX AI Opportunity Fund LP (acting through FutureX Innovation Limited as its general partner)
		
	By:	 	 /s/ Zhang Qian

	Name: Zhang Qian
	Title: Director

  

			
	 FutureX Innovation SPC (acting for and on behalf of New Technology Fund I SP as one of its segregated
portfolios)
  

	By:	 	 /s/ Zhang Qian

	Name: Zhang Qian
	Title: Director

  

			
	 Howater Innovation I Limited Partnership 

 

	By:	 	 /s/ Zhang Qian

	Name: Zhang Qian
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

	
	 CIIF INVESTOR:
  

	China Internet Investment Fund.
(中国互联网投资基金(有限合伙))
	
	Seal: /s/ Seal of China Internet Investment Fund.

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date herein
above first written. 
  

			
	 CCBI Investor:
  

	DESIGN TIME LIMITED
		
	By:	 	 /s/ Li Ngai

	Name: Li Ngai
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

SIGNATURE PAGE TO NINITH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

 LIST OF SCHEDULE AND EXHIBITS 

 

					
		 	Schedule A	 	 List of Major Subsidiaries

			
	
                
	 	Exhibit A	 	 List of Management

			
		 	Exhibit B	 	 Notices

			
		 	Exhibit C	 	 Schedule of Competitors

 SCHEDULE A 

LIST OF MAJOR SUBSIDIARIES 
  

	1.	 Kingsoft Cloud Corporation Limited (the “HK Company”), a limited liability company organized
under the laws of Hong Kong; 

  

	2.	 Kingsoft Cloud INC. (the “US Company”), a limited liability company organized under the laws
of the State of Washington, United States; 

  

	3.	 Beijing Jinshanyun Technology Co., Ltd.
(北京金山云科技有限公司) (the “PRC Subsidiary 1”), a wholly foreign-owned enterprise established under the
laws of the PRC; 

  

	4.	 Beijing Yunxiang Zhisheng Technology Co., Ltd.
(北京云享智胜科技有限公司) (the “PRC Subsidiary 2”, the PRC Subsidiary 1 and the PRC Subsidiary 2 are
collectively referred to as the “PRC Subsidiaries”), a wholly foreign-owned enterprise established under the laws of the PRC; 

  

	5.	 Zhuhai Jinshanyun Technology Co., Ltd.
(珠海金山云科技有限公司) (the “Domestic Enterprise 1”), a limited liability company established under the
laws of the PRC; 

  

	6.	 Jinshanyun (Beijing) Information Technology Co., Ltd.
(金山云(北京)信息技术有限公司
) (the “Domestic Enterprise 2”, the Domestic Enterprise 1 and the Domestic Enterprise 2 are collectively referred to as the “Domestic Enterprises”), a limited liability company established under the laws of
the PRC; 

  

	7.	 Beijing Jinshanyun Internet Technology Co., Ltd.
(北京金山云网络技术有限公司) (“ICP Co 1”), a limited liability company established under the laws
of the PRC and a wholly owned subsidiary of Domestic Enterprise 1; 

  

	8.	 Beijing Jinxun Ruibo Internet Technology Co., Ltd.
(北京金迅瑞博网络技术有限公司) (the “ICP Co 2”, the ICP Co 1 and the ICP Co 2 are
collectively referred to as the “ICP Cos”), a limited liability company established under the laws of the PRC and a wholly owned subsidiary of Domestic Enterprise 2; 

 

	9.	 Shanghai Ruidian Network Technology Co., Ltd.
(上海锐巅网络科技有限公司), a joint venture company established under the laws of the PRC; 

 

	10.	 Nanjing Qianyi Shixun Information Technology Co., Ltd.
(南京仟壹视讯信息技术有限公司), a limited liability company established under the laws of the PRC and a
wholly owned subsidiary of ICP Co1; 

  

	11.	 Suzhou Yunxiang Zhisheng Internet Technology Co., Ltd.
(宿州云享智胜网络技术有限公司), a limited liability company established under the laws of the PRC and a
wholly owned subsidiary of ICP Co 1; and 

	12.	 Hainan Chengmai Yunxiang Zhisheng Internet Technology Co., Ltd. (海南澄迈云享智胜网络技术有限公司), a limited liability company established under the laws of PRC and a
wholly owned subsidiary of ICP Co 1. 

 EXHIBIT A 

LIST OF MANAGEMENT 

 EXHIBIT B 

NOTICES 

 EXHIBIT C 

SCHEDULE OF COMPETITORSEX-10.17

 Exhibit 10.17 
  

 
  

REGISTRATION RIGHTS AGREEMENT 

among 
 CHINAAMC SPECIAL
INVESTMENT LIMITED 
 BUDDIES TEAM LMITED 

KINGSOFT CLOUD HOLDINGS LIMITED 

CELESTIAL POWER LIMITED 

METAWIT CAPITAL L.P.
(元慧资本有限合伙) 
 NEW
CLOUD LTD. 
 PRECIOUS STEED LIMITED 

SHUNWEI GROWTH III LIMITED 

FUTUREX INNOVATION SPC – Special Opportunity Fund VI SP 

FUTUREX AI OPPORTUNITY FUND LP (acting through FutureX Innovation Limited as its general partner) 

FUTUREX INNOVATION SPC (acting for and on behalf of New Technology Fund I SP as one of its segregated portfolios) 

HOWATER INNOVATION I LIMITED PARTNERSHIP 

CHINA INTERNET INVESTMENT FUND.
(中国互联网投资基金(有限合伙)) 

DESIGN TIME LIMITED 

and 
 KINGSOFT
CORPORATION LIMITED 
  
  

Dated December 27, 2019 
  

 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 SECTION 1
	 	 INTERPRETATION
	  	 	3	 
	 SECTION 2
	 	 GENERAL; SECURITIES SUBJECT TO THIS AGREEMENT
	  	 	8	 
	 SECTION 3
	 	 DEMAND REGISTRATION
	  	 	9	 
	 SECTION 4
	 	 INCIDENTAL OR “PIGGY-BACK” REGISTRATION
	  	 	10	 
	 SECTION 5
	 	 FORM F-3 REGISTRATION
	  	 	11	 
	 SECTION 6
	 	PROVISIONS APPLICABLE TO DEMAND REGISTRATIONS AND F-3 REGISTRATIONS	  	 	12	 
	 SECTION 7
	 	 HOLDBACK AGREEMENTS
	  	 	13	 
	 SECTION 8
	 	 REGISTRATION PROCEDURES
	  	 	14	 
	 SECTION 9
	 	 INDEMNIFICATION; CONTRIBUTION
	  	 	18	 
	 SECTION 10
	 	RULE 144	  	 	21	 
	 SECTION 11
	 	NON-U.S. LISTINGS	  	 	22	 
	 SECTION 12
	 	MISCELLANEOUS	  	 	22	 

 REGISTRATION RIGHTS AGREEMENT 

(this “Agreement”) made on December 27, 2019 

AMONG: 
  

	(1)	 Kingsoft Cloud Holdings Limited, a limited liability company organized under the laws of the Cayman Islands
(the “Company”); 

  

	(2)	 Celestial Power Limited, company limited by shares incorporated under the laws of the British Virgin Islands
(the “IDG Investor”); 

  

	(3)	 ChinaAMC Special Investment Limited, a company incorporated under the laws of the British Virgin Islands (the
“AMC Investor”); 

  

	(4)	 Buddies Team Limited, a company incorporated and existing under the laws of the British Virgin Islands with its
registered office at Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands (the “CM Investor”); 

  

	(5)	 METAWIT CAPITAL L.P.
(元慧资本有限合伙), an exempted limited partnership registered under the laws of the Cayman Islands (the “Metawit Investor”);

  

	(6)	 New Cloud Ltd., a business company incorporated and existing under the laws of the British Virgin Islands (the
“Minsheng Investor”); 

  

	(7)	 Shunwei Growth III Limited, a company incorporated and existing under the laws of the British Virgin Islands
(the “Shunwei Investor”); 

  

	(8)	 Precious Steed Limited, a company incorporated and existing under the laws of the British Virgin Islands (the
“Forebright Investor”); 

  

	(9)	 FUTUREX INNOVATION SPC - Special Opportunity Fund VI SP, a company incorporated and existing under the laws of
the Cayman Islands (“FutureX Capital 1”); 

  

	(10)	 FutureX AI Opportunity Fund LP (acting through FutureX Innovation Limited as its general partner), an exempted
limited partnership registered and existing under the laws of the Cayman Islands (“FutureX Capital 2”); 

  

	(11)	 FutureX Innovation SPC (acting for and on behalf of New Technology Fund I SP as one of its segregated
portfolios), an exempted segregated portfolio company incorporated and existing under the laws of the Cayman Islands (“FutureX Capital 3”); 

 

	(12)	 Howater Innovation I Limited Partnership, a limited partnership organized and existing under the laws of the
Cayman Islands (“Futurex Capital 4”; together with FutureX Capital 1, FutureX Capital 2 and FutureX Capital 3, “FutureX Capital”); 

	(13)	 China Internet Investment Fund.
(中国互联网投资基金(有限合伙)), a limited partnership duly organized and validly
existing under the laws of the PRC (the “CIIF Investor”); 

  

	(14)	 DESIGN TIME LIMITED, a company incorporated and existing under the laws of the British Virgin Islands (the
“CCBI Investor”); and 

  

	(15)	 Kingsoft Corporation Limited, a limited liability company organized under the laws of the Cayman Islands
(“Kingsoft”); 

 (collectively, the “Parties” and each a “Party”). 

WHEREAS: 
  

	(A)	 Kingsoft and the IDG Investor hold certain number of Series B Preferred Shares prior to the date hereof.

  

	(B)	 Kingsoft, the IDG Investor, the AMC Investor, the CM Investor and FutureX Capital 1 hold certain number of
Series C Preferred Shares prior to the date hereof. 

  

	(C)	 Kingsoft, the Metawit Investor, the Minsheng Investor, the Shunwei Investor, the Forebright Investor, FutureX
Capital 2, FutureX Capital 3 and FutureX Capital 4 hold certain number of Series D Preferred Shares on or prior to the date hereof. 

  

	(D)	 The CIIF Investor and the CCBI Investor hold certain number of Series D+ Preferred Shares on or prior to the
date hereof. 

  

	(E)	 The Series B Preferred Shares, Series C Preferred Shares, Series D Preferred Shares and Series D+ Preferred
Shares are convertible into ordinary shares, par value US$0.001 per share, of the Company (the “Ordinary Shares”) in accordance with the terms of the Company’s seventeenth amended and restated memorandum of association and
articles of association (the “Restated Articles”). 

  

	(F)	 In order to permit the Investors and their respective transferees to freely sell the Ordinary Shares into which
Series B Preferred Shares, Series C Preferred Shares, Series D Preferred Shares and Series D+ Preferred Shares are convertible, it may be necessary for such sale to be “registered” by the Company pursuant to United States federal and state
securities laws. 

  

	(G)	 The parties hereto have agreed that the Investors will be granted certain registration rights as provided in
this Agreement. 

  

	(H)	 The Parties other than FutureX Captial 1, FutureX Capital 4, the CIIF Investor and the CCBI Investor are
parties to that certain Registration Rights Agreement dated March 29, 2018 (the “Prior Registration Agreement”), which shall be replaced and superseded in its entirety by this Agreement. 

  
 2 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

SECTION 1 

INTERPRETATION 
  

	1.1	 Definitions. In this Agreement, unless the context otherwise requires the following words and
expressions have the following meanings: 

 “Affiliate” of a Person (the “Subject
Person”) means (i) in the case of a Person other than a natural person, any other Person that directly or indirectly Controls, is Controlled by or is under common Control with the Subject Person and (ii) in the case of a natural
person, any other Person that is directly or indirectly Controlled by the Subject Person or is a Relative of the Subject Person. 

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

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, the Cayman
Islands, the PRC or Hong Kong are required or authorized by law or executive order to be closed. 
 “Closing Price” means,
with respect to the Registrable Securities, as of the date of determination, 
  

	 	(a)	 if the Registrable Securities are listed on a national securities exchange, the closing price per share of a
Registrable Security on such date published in The Wall Street Journal (National Edition) or, if no such closing price on such date is published in The Wall Street Journal (National Edition), the average of the closing bid and asked prices on such
date, as officially reported on the principal national securities exchange on which the Registrable Securities are then listed or admitted to trading; or 

  

	 	(b)	 if the Registrable Securities are not then listed or admitted to trading on any national securities exchange
but are designated as national market system securities pursuant to Section 11A(a)(2) of the Exchange Act and the rules thereunder, the last trading price per share of a Registrable Security on such date; or 

 

	 	(c)	 if there shall have been no trading on such date or if the Registrable Securities are not designated as
national market system securities pursuant to Section 11A(a)(2) of the Exchange Act and the rules thereunder, the average of the reported closing bid and asked prices of the Registrable Securities on such date as shown by The Nasdaq Stock
Market, Inc. (or its successor) and reported by any member firm of The New York Stock Exchange, Inc. selected by the Company; or 

  

	 	(d)	 if none of (a), (b) or (c) is applicable, a market price per share determined in good faith by the Board
or, if such determination is not satisfactory to the Holder for whom such determination is being made, by an internationally recognized investment banking firm jointly selected by the Company and such Holder, the expenses for which shall be borne by
the Company. 

  
 3 

 If trading is conducted on a continuous basis on any exchange, then the closing price shall
be at 4:00 P.M. New York City time. 
 “Commission” means the Securities and Exchange Commission of the United States or any
similar agency then having jurisdiction to enforce the Securities Act. 
 “Control” of a Person means (i) ownership of
more than 50% of the shares in issue or other equity interests or registered capital of such Person or (ii) the power to direct the management or policies of a Person, whether through the ownership or voting proxy of the voting power of such
Person, through the power to appoint a majority of the members of the board of directors or similar governing body of such Person, through contractual arrangements or otherwise. 

“Conversion Shares” means the Ordinary Shares issued upon conversion of the Series B Preferred Shares, Series C Preferred
Shares, Series D Preferred Shares and Series D+ Preferred Shares, as the case may be. 
 “Exchange Act” means the Securities
Exchange Act of 1934 of the United States, as amended, and the rules and regulations of the Commission thereunder. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Form F-3” means Form S-3 or Form F-3 under
the Securities Act or any successor form thereto. 
 “Form F-4” means Form S-4 or
Form F-4 under the Securities Act or any successor form thereto. 
 “Governmental
Authority” means any government or political subdivision thereof; any department, agency or instrumentality of any government or political subdivision thereof; any court or arbitral tribunal; and the governing body of any securities
exchange, in each case having competent jurisdiction. 
 “Holder” means a holder of Registrable Securities. 

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China. 

“Initial Public Offering” or “IPO” means the initial public offering of Ordinary Shares pursuant to an effective
Registration Statement. 
 “Investor” means (i) the IDG Investor, (ii) the AMC Investor, (iii) Kingsoft, (iv)
the CM Investor, (v) the Metawit Investor, (vi) the Minsheng Investor, (vii) the Shunwei Investor, (viii) the Forebright Investor, (ix) FutureX Capital, (x) the CIIF Investor, (xi) the CCBI Investor and
(xii) any other Person who acquires Registrable Securities from the IDG Investor, the AMC Investor, Kingsoft, the CM Investor, the Minsheng Investor, the Metawit Investor, the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF
Investor or the CCBI Investor, in each case for so long as such Person remains a holder of Registrable Securities, and in the case of any Investor that is a natural person shall be deemed to include the estate of such Investor and the executor,
conservator, committee or other similar legal representative of such Investor or such Investor’s estate following the death or incapacitation of such Investor. 

  
 4 

 “Investor Affiliate” means any Affiliate of any Investor. 

“IPO Effectiveness Date” means the date upon which the Company completes an Initial Public Offering. 

“Market Price” means, on any date of determination, the weighted average of the daily Closing Price of the Registrable
Securities for the immediately preceding thirty (30) days on which the national securities exchanges are open for trading. 

“Party” shall mean each of the Company, the AMC Investor, the IDG Investor, Kingsoft, the CM Investor, the Minsheng Investor,
the Metawit Investor, the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF Investor, the CCBI Investor and any Person that subsequently becomes a party to this Agreement pursuant to the terms hereof. 

“Person” means any natural person, firm, company, Governmental Authority, joint venture, partnership, association or other
entity (whether or not having separate legal personality). 
 “Registrable Securities” means (a) the Conversion Shares
and (b) any Ordinary Shares issued or issuable with respect to the Series B Preferred Shares, Series C Preferred Shares, Series D Preferred Shares, Series D+ Preferred Shares or the Conversion Shares by way of share dividend or share split or
in connection with any combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise; excluding in all cases, however, (i) any Registrable Securities sold by an Investor in a transaction in which the
applicable rights under this Agreement are not assigned pursuant to Section 12.7, (ii) any securities for which registration rights have terminated pursuant to Section 12.1 of this Agreement and (iii) any securities when a
Registration Statement covering such securities has been declared effective under the Securities Act by the Commission and such securities have been disposed of pursuant to such effective Registration Statement. 

“Registration Statement” means a Registration Statement filed pursuant to the Securities Act. 

“Relative” of a natural Person means the spouse of such Person and any parent, grandparent, sibling or child of such Person.

 “Securities Act” means the Securities Act of 1933 of the United States, as amended, and the rules and regulations of the
Commission promulgated thereunder. 

  
 5 

 “Securities Holders” means holders of Ordinary Shares, Series B Preferred
Shares, Series C Preferred Shares, Series D Preferred Shares and Series D+ Preferred Shares. 
 “Series A Preferred Shares”
means the series A convertible preferred shares, par value US$0.001 per share, of the Company. 
 “Series B Preferred
Shares” means the series B convertible preferred shares, par value US$0.001 per share, of the Company. 
 “Series C
Preferred Shares” means the series C convertible preferred shares, par value US$0.001 per share, of the Company. 
 “Series
D Preferred Shares” means the series D convertible preferred shares, par value US$0.001 per share, of the Company. 

“Series D+ Preferred Shares” means the series D+ convertible preferred shares, par value US$0.001 per share, of the Company.

 “Shareholders Agreement” means the ninth amended and restated shareholders agreement dated December 27, 2019 among
the Company, the AMC Investor, the IDG Investor, Kingsoft, the Minsheng Investor, the Metawit Investor, the Shunwei Investor, the Forebright Investor, FutureX Capital, the CIIF Investor, the CCBI Investor and certain other parties thereto. 

“Underwriter” means a Company Underwriter or an Approved Underwriter. 

 

	1.2	 Terms Defined Elsewhere. The following terms are defined in this Agreement as follows:

  

			
	“Agreement”	  	Preamble
	“AMC Investor”	  	Preamble
	“Approved Underwriter”	  	Section 6.2
	“Arbitration Agreement”	  	Section 12.11(h)
	“Arbitration Notice”	  	Section 12.11(a)
	“CCBI Investor”	  	Preamble
	“CIIF Investor”	  	Preamble
	“Company”	  	Preamble
	“Company Underwriter”	  	Section 4.2
	“Demand Registration”	  	Section 3.1
	“F-3 Initiating Holders”	  	Section 5.1
	“F-3 Registration”	  	Section 5.1
	“Forebright Investor”	  	Preamble
	“FutureX Capital”	  	Preamble
	“HKIAC”	  	Section 12.11(b)
	“Holders’ Counsel”	  	Section 8.1(a)
	“IDG Investor”	  	Preamble
	“Incidental Registration”	  	Section 4.1
	“Indemnified Party”	  	Section 9.3
	“Indemnifying Party”	  	Section 9.3
	“Initiating Holders”	  	Section 3.1

  
 6 

			
	“Inspector” and “Inspectors”	  	Section 8.1(g)
	“Kingsoft”	  	Preamble
	“Liability” and “Liabilities”	  	Section 9.1
	“Metawit Investor”	  	Preamble
	“Minsheng Investor”	  	Preamble
	“Ordinary Shares”	  	Recitals
	“Party” and “Parties”	  	Preamble
	“Principal Tribunal”	  	Section 12.11(i)(i)
	“Records”	  	Section 8.1(g)
	“Registration Expenses”	  	Section 8.3
	“Restated Articles”	  	Recitals
	“Shunwei Investor”	  	Preamble
	“Valid Business Reason”	  	Section 6.3

  

	1.3	 Interpretation. 

 

	 	(a)	 Directly or Indirectly. The phrase “directly or indirectly” means directly, or
indirectly through one or more intermediate persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning. 

 

	 	(b)	 Gender and Number. Unless the context otherwise requires, all words (whether gender-specific or gender
neutral) shall be deemed to include each of the masculine, feminine and neuter genders, and words importing the singular include the plural and vice versa. 

  

	 	(c)	 Headings. Headings are included for convenience only and shall not affect the construction of any
provision of this Agreement. 

  

	 	(d)	 Include not Limiting. “Include,” “including,” “are inclusive
of” and similar expressions are not expressions of limitation and shall be construed as if followed by the words “without limitation.” 

 

	 	(e)	 Law. References to “law” shall include all applicable laws, regulations, rules and
orders of any Governmental Authority, including any common or customary law, constitution, code, ordinance, statute or other legislative measure and any regulation, rule, treaty, order, decree or judgment; and “lawful” shall be
construed accordingly. 

  

	 	(f)	 References to Documents. References to this Agreement include the Schedules and Exhibits, which form an
integral part hereof. A reference to any Section, Schedule or Exhibit is, unless otherwise specified, to such Section of, or Schedule or Exhibit to, this Agreement. The words “hereof,” “hereunder” and
“hereto,” and words of like import, refer to this Agreement as a whole and not to any particular Section hereof or Schedule or Exhibit hereto. A reference to any document (including this Agreement) is to that document as amended,
consolidated, supplemented, novated or replaced from time to time. 

  
 7 

	 	(g)	 Statutory References. A reference to a statute or statutory provision includes, to the extent applicable
at any relevant time: 

  

	 	(i)	 that statute or statutory provision as from time to time consolidated, modified,
re-enacted or replaced by any other statute or statutory provision; 

  

	 	(ii)	 any repealed statute or statutory provision which it re-enacts (with or
without modification); and 

  

	 	(iii)	 any subordinate legislation or regulation made under the relevant statute or statutory provision.

  

	 	(h)	 Share Calculations. Any reference to a number or price of Ordinary Shares shall be appropriately
adjusted to reflect any share split, share consolidation, share dividend, share reclassification, restructuring, capitalization issuance or similar transaction affecting the share capital of the Company. 

 

	 	(i)	 Time. Except as otherwise provided, for purposes of calculating the length of time from a given day or
the day of a given act or event, the relevant period shall be calculated exclusive of that day. If the day on or by which a payment must be made is not a Business Day, that payment must be made on or by the Business Day immediately following such
day. 

  

	 	(j)	 Writing. References to writing include any mode of reproducing words in a legible and non-transitory form. 

  

	 	(k)	 Language. This Agreement is drawn up in the English language. If this Agreement is translated into any
other language, the English language text shall prevail. 

 SECTION 2 

GENERAL; SECURITIES SUBJECT TO THIS AGREEMENT 
  

	2.1	 Grant of Rights. The Company hereby grants registration rights to the Holders upon the terms and
conditions set forth in this Agreement. 

  

	2.2	 Holders of Registrable Securities. A Person is deemed to be a holder of Registrable Securities whenever
such Person owns of record Registrable Securities, or holds an option to purchase, or a security convertible into or exercisable or exchangeable for, Registrable Securities whether or not such acquisition or conversion has actually been effected. If
the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company may act upon the basis of the instructions, notice or election received from the registered
owner of such Registrable Securities. Registrable Securities issuable upon exercise of an option or upon conversion of another security shall be deemed outstanding for the purposes of this Agreement. 

  
 8 

 SECTION 3 

DEMAND REGISTRATION 
  

	3.1	 Request for Demand Registration. At any time commencing on or after the later of (a) the fourth (4th) anniversary of the Closing (as defined in the Shareholders Agreement) and (b) the first anniversary of the IPO Effectiveness Date, Holder(s) holding in the aggregate not less than 30% of the
Registrable Securities then outstanding (the “Initiating Holders”) may make a written request to the Company to register, and the Company shall use its best efforts to register, under the Securities Act (a “Demand
Registration”) the number of Registrable Securities specified in such requests; provided, however, that (i) the Company shall not be obligated to effect more than two such Demand Registrations and (ii) the Company
shall not be obligated to effect a Demand Registration if the Initiating Holders propose to sell their Registrable Securities in an amount less than 30% of the Registrable Securities then outstanding. For purposes of the preceding sentence, the
filing of two or more Registration Statements in response to one demand shall be counted as one Demand Registration. Each request for a Demand Registration by the Initiating Holders shall state the amount of the Registrable Securities proposed to be
sold and the intended method of disposition thereof. 

  

	3.2	 Inclusion of Registrable Securities in Demand Registration. Each Holder other than Initiating Holders in
respect of any Demand Registration shall have the right to have all or any portion of its Registrable Securities, included in such Demand Registration as provided in this Section 3.2. Within seven (7) days after the receipt of a request
for a Demand Registration from the Initiating Holder, the Company shall (x) give written notice thereof to all of the Holders (other than such Initiating Holders) and (y) subject to Section 6.1, include in such registration the number
of Registrable Securities specified in each written request for inclusion therein delivered by any Holder to the Company not later than fifteen (15) days after delivery to such Holders of the written notice referred to in clause (x) above.
The failure of any Holder to respond within such 15-day period referred to in clause (y) above shall be deemed to be a waiver of such Holder’s rights under this Section 3 with respect to such
Demand Registration. 

  

	3.3	 Effective Demand Registration. The Company shall use its commercially reasonable efforts to cause a
Registration Statement in respect of any Demand Registration to become effective and remain effective as soon as practicable after the Company receives a request under Section 3.1. A registration shall not constitute a Demand Registration
satisfying the Company’s obligations hereunder until the relevant Registration Statement has become effective and remained continuously effective for the lesser of (x) the period during which all Registrable Securities registered in the
Demand Registration are sold and (y) 120 days; provided, however, that a registration shall not constitute a Demand Registration satisfying the Company’s obligations hereunder if (A) after the relevant Registration Statement
has become effective, such registration or the related offer, sale or distribution of Registrable Securities thereunder is interfered with by any stop order, injunction or other order or requirement of the Commission or other governmental agency or
court for any reason not attributable to the Initiating Holders and such interference is not thereafter eliminated or (B) the conditions specified in the underwriting agreement, if any, entered into in connection with such Demand Registration
are not satisfied or waived, other than by reason of a failure by the Initiating Holder; provided further, if the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and
forfeit their right to one demand registration statement pursuant to Section 3, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 3.3. 

  
 9 

 SECTION 4 

INCIDENTAL OR “PIGGY-BACK” REGISTRATION 
  

	4.1	 Request for Incidental Registration. If at any time after the IPO Effectiveness Date the Company
proposes to register any Ordinary Shares in connection with an offering by the Company for its own account (other than a registration utilizing Form F-4 or F-8 or any successor thereto) or for the account of any shareholder of the Company other than
a Holder, then each Holder shall have the right to have all or any portion of its Registrable Securities included in such registration as provided in this Section 4.1 (an “Incidental Registration”). The Company shall
(x) give written notice of such proposed registration to each such Holder at least twenty (20) days before the anticipated filing date of the relevant Registration Statement, which notice shall describe the proposed registration and
distribution, and (y) include in such registration the number of Registrable Securities specified in each written request for inclusion therein delivered by any Holder to the Company not later than fifteen (15) days of the receipt by such
Holders of such written notice referred to in clause (x) above. The failure of any Holder to respond within such 15-day period referred to in clause (y) above shall be deemed to be a waiver of such
Holder’s rights under this Section 4 with respect to such registration. 

  

	4.2	 Underwritten Offering. In connection with any Incidental Registration under Section 4.1 involving
an underwritten offering, the Company shall not be required to include any Registrable Securities in such underwritten offering unless the Holders thereof accept the terms of the underwritten offering as agreed upon between the Company, such other
shareholders, if any, and the managing underwriter of such offering (the “Company Underwriter”); provided, that no such terms shall impair the indemnification rights of the Holders granted under Section 9. If the Company
Underwriter determines that the registration of all or part of the Registrable Securities which the Holders have requested to be included would materially adversely affect the success of such offering, then the Company shall be required to include
in such Incidental Registration, to the extent of the amount that the Company Underwriter believes may be sold without causing such adverse effect, first, all of the securities to be offered for the account of the Company; second, the
Registrable Securities to be offered for the account of the Holders pursuant to this Section 4, pro rata based on the number of Registrable Securities owned by each such Holder; and third, any other securities requested to be included in
such offering. 

  
 10 

 SECTION 5 

FORM F-3 REGISTRATION 
  

	5.1	 Request for a Form F-3 Registration. At any time following the consummation of an IPO,
after the Company becomes eligible to use Form F-3 in connection with a public offering of its securities, Holder(s) holding in the aggregate not less than 30% of the Registrable Securities (the “F-3 Initiating Holders”) may
make a written request to the Company to register, and the Company shall use its commercially reasonable efforts to register, under the Securities Act on Form F-3 (an “F-3 Registration”) the number of Registrable Securities
specified in such request; provided, however, that the Company shall not be required to effect any registration pursuant to this Section 5.1: 

 

	 	(a)	 within ninety (90) days after the effective date of any other Registration Statement of the Company;

  

	 	(b)	 if within the twelve (12) month period preceding the date of such request, the Company has effected two
(2) registrations on Form F-3 pursuant to this Section 5.1; 

  

	 	(c)	 if Form F-3 is not available for such offering by the F-3 Initiating Holders; or 

 

	 	(d)	 if Holders requesting inclusion of Registrable Securities in such registration propose to sell such Registrable
Securities at an aggregate price (calculated based upon the Market Price of the Registrable Securities on the date on which the Company receives a request under Section 5.1) to the public of less than US$2,000,000. 

 

	5.2	 Inclusion of Registrable Securities in F-3 Registration. Each Holder other than the F-3
Initiating Holders shall have the right to have all or any portion of its Registrable Securities included in such F-3 Registration as provided in this Section 5.2. Within ten (10) days after the receipt of a request for a F-3 Registration
from the F-3 Initiating Holders, the Company shall (x) give written notice thereof to all of the Holders (other than such F-3 Initiating Holders) and (y) subject to Section 6.1, include in such
registration such number of Registrable Securities specified in each written request for inclusion therein delivered by any Holder to the Company not later than ten (10) days after delivery to such Holders of the written notice referred to in
clause (x) above. The failure of any Holder to respond within such 10-day period referred to in clause (y) above shall be deemed to be a waiver of such Holder’s rights under this Section 5
with respect to such F-3 Registration. 

  

	5.3	 Effective F-3 Registration. The Company shall use its commercially reasonable efforts to cause a
Registration Statement to become effective in respect of any F-3 Registration not later than sixty (60) days after the Company receives a request under Section 5.1. 

 

	5.4	 No Demand Registration. No registration requested by any Holder pursuant to this Section 5 shall be
deemed a Demand Registration pursuant to Section 3.1. 

  
 11 

 SECTION 6 

PROVISIONS APPLICABLE TO DEMAND REGISTRATIONS AND F-3 REGISTRATIONS 

 

	6.1	 Underwriting Procedures. If the Initiating Holders or the F-3 Initiating Holders, as the case may be,
holding not less than 30% of the Registrable Securities held by all of the Initiating Holders or F-3 Initiating Holders, as the case may be, so elect, the Company shall use its commercially reasonable efforts to cause the relevant Demand
Registration or F-3 Registration to be in the form of a firm commitment underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved Underwriter selected in accordance with Section 6.2. In
connection with any Demand Registration or F-3 Registration involving an underwritten offering, the Company shall not be required to include any Registrable Securities in such underwritten offering unless the Holders thereof accept the terms of the
underwritten offering as agreed upon among the Company, the Approved Underwriter and the Initiating Holders or F-3 Initiating Holders, as the case may be, and then only in such quantity as such underwriter believes will not jeopardize the success of
such offering by the Holders. If the Approved Underwriter believes that the registration of all or part of the Registrable Securities which the Holders have requested to be included would materially adversely affect the success of such public
offering, then the Company shall be required to include in the underwritten offering, to the extent of the amount that the Approved Underwriter believes may be sold without causing such adverse effect, first, all of the Registrable Securities
to be offered for the account of the Holders, pro rata based on the number of Registrable Securities owned by such Holders; and second, any other securities requested to be included in such offering. 

 

	6.2	 Selection of Underwriters. If any Demand Registration or F-3 Registration, as the case may be, of
Registrable Securities is in the form of an underwritten offering, the Company shall select an investment banking firm of international reputation to act as the managing underwriter of the offering (the “Approved Underwriter”);
provided, however, that the Approved Underwriter shall, in any case, also be approved by the Initiating Holders or F-3 Initiating Holders, as the case may be, such approval not to be unreasonably withheld. 

 

	6.3	 Delay or Withdrawal for Valid Business Reasons. If the Board, in its good faith judgment, determines
that any Demand Registration or F-3 Registration would (A) materially interfere with a material financing, acquisition, corporate reorganization or merger or other material transaction involving the Company; (B) require premature
disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (C) render the Company unable to comply with requirements under the Securities Act or Exchange Act, and that it is therefore
essential in the interests of the Company that such registration not proceed (each, a “Valid Business Reason”), the Company may (a) postpone filing a Registration Statement until such Valid Business Reason no longer exists, but
in no event for more than (i) ninety (90) days, in the case of a Registration Statement relating to a Demand Registration or (ii) sixty (60) days, in the case of a Registration Statement relating to a F-3 Registration, and (b) in case
a Registration Statement has been filed relating to a Demand Registration, if the Valid Business Reason has not resulted from actions taken by the Company, the Company, upon the approval of a majority of the Board, such majority to include at least
the IDG Director, the AMC Director, the Minsheng Director and the Metawit Director (each as defined in the Shareholders Agreement), may cause such Registration Statement to be withdrawn and its effectiveness terminated or may postpone amending or
supplementing such Registration Statement. The Company shall give written notice of its determination to postpone or withdraw a Registration Statement and of the fact that the Valid Business Reason for such postponement or withdrawal no longer
exists, in each case, promptly after the occurrence thereof. Notwithstanding anything to the contrary contained herein, the Company may not postpone or withdraw a filing under this Section 6.3 more than once in any twelve (12) month
period. 

  
 12 

 SECTION 7 

HOLDBACK AGREEMENTS 
  

	7.1	 Restrictions on Public Sale by Holders. If (x) requested (A) by the Company, the Initiating Holders
or the F-3 Initiating Holders, as the case may be, in the case of a non-underwritten public offering or (B) by the Approved Underwriter or the Company Underwriter, as the case may be, in the case of an
underwritten public offering and (y) all of the Company’s officers and directors, and all of the Company’s shareholders holding more than one percent (1%) of the Company’s outstanding capital stock, execute agreements setting
forth restrictions identical to those referred to in this Section 7.1, no Holder shall, during the ninety (90) day period commencing on the effective date of any Registration Statement filed by the Company in connection with any public
offering of Ordinary Shares, (x) effect any public sale or distribution of any Registrable Securities or of any securities convertible into or exchangeable or exercisable for such Registrable Securities (including without limitation a sale
pursuant to Rule 144 under the Securities Act), except pursuant to such registration, or (y) make any request for a Demand Registration or F-3 Registration under this Agreement. No Holder or officer, director or other shareholder shall be
released from any obligation under this Section 7.1 or under any agreement setting forth restrictions similar to those set forth in this Section 7.1 unless all other Holders are also released from their obligations under this
Section 7.1. 

  

	7.2	 Restrictions on Public Sale by the Company. The Company agrees not to effect any public sale or
distribution of any of its securities, or any securities convertible into or exchangeable or exercisable for such securities (except pursuant to registrations on Form F-4 or F-8 or any successor thereto), during the period beginning on the effective
date of any Registration Statement in which the Holders of Registrable Securities are participating and ending on the earlier of (x) the date on which all Registrable Securities registered pursuant to such Registration Statement are sold and
(y) 120 days after the effective date of such Registration Statement (except as part of the registration effected pursuant to such Registration Statement). 

  
 13 

 SECTION 8 

REGISTRATION PROCEDURES 
  

	8.1	 Obligations of the Company. Whenever registration of Registrable Securities has been requested pursuant
to Section 3, Section 4 or Section 5, the Company shall use its commercially reasonable efforts to effect the registration and sale of such Registrable Securities in accordance with the intended method of distribution thereof as
quickly as practicable, and in connection with any such request, the Company shall, as expeditiously as possible: 

  

	 	(a)	 prepare and file with the Commission a Registration Statement on any form for which the Company then qualifies
or which counsel for the Company shall deem appropriate and which form shall be available for the sale of such Registrable Securities in accordance with the intended method of distribution thereof, and cause such Registration Statement to become
effective; provided, however, that (x) before filing a Registration Statement or prospectus or any amendments or supplements thereto, the Company shall provide counsel selected by the Holders holding a majority of the Registrable
Securities being registered in such registration (“Holders’ Counsel”) and any other Inspector with an adequate and appropriate opportunity to review and comment on such Registration Statement and each prospectus included
therein (and each amendment or supplement thereto) to be filed with the Commission, subject to such documents being under the Company’s control, and (y) the Company shall notify the Holders’ Counsel and each seller of Registrable
Securities of any stop order issued or threatened by the Commission and take all action required to prevent the entry of such stop order or to remove it if entered; 

 

	 	(b)	 prepare and file with the Commission such amendments and supplements to such Registration Statement and the
prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for the lesser of (x) 120 days and (y) such shorter period which will terminate when all Registrable Securities covered by such
Registration Statement have been sold, and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during such period in accordance with the intended methods of
disposition by the sellers thereof set forth in such Registration Statement; 

  

	 	(c)	 furnish to each seller of Registrable Securities, prior to filing a Registration Statement, at least one copy
of such Registration Statement as is proposed to be filed, and thereafter such number of copies of such Registration Statement, each amendment and supplement thereto (in each case including all exhibits thereto), and the prospectus included in such
Registration Statement (including each preliminary prospectus) and any prospectus filed under Rule 424 under the Securities Act as each such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by
such seller; 

  
 14 

	 	(d)	 register or qualify such Registrable Securities under such other securities or “blue sky” laws of
such jurisdictions as any seller of Registrable Securities may request, and to continue such qualification in effect in such jurisdiction for as long as permissible pursuant to the laws of such jurisdiction, or for as long as any such seller
requests or until all of such Registrable Securities are sold, whichever is shortest, and do any and all other acts and things which may be reasonably necessary or advisable to enable any such seller to consummate the disposition in such
jurisdictions of the Registrable Securities owned by such seller; provided, however, that the Company shall not be required to (x) qualify generally to do business in any jurisdiction where it would not otherwise be required to
qualify but for this Section 8.1(d), (y) subject itself to taxation in any such jurisdiction or (z) consent to general service of process in any such jurisdiction; 

 

	 	(e)	 notify each seller of Registrable Securities at any time when a prospectus relating thereto is required to be
delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such Registration Statement contains an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading and the Company shall, if required by rules and regulations of the relevant exchange or
applicable securities law, promptly prepare a supplement or amendment to such prospectus and furnish to each seller of Registrable Securities a reasonable number of copies of such supplement to or an amendment of such prospectus as may be necessary
so that, after delivery to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; 

  

	 	(f)	 enter into and perform customary agreements (including an underwriting agreement in customary form with the
Underwriter, if any) and take such other actions as are prudent and reasonably required in order to expedite or facilitate the disposition of such Registrable Securities, including causing its officers to participate in “road shows” and
other information meetings organized by the Approved Underwriter or Company Underwriter; 

  
 15 

	 	(g)	 make available at reasonable times for inspection by any seller of Registrable Securities, any managing
underwriter participating in any disposition of such Registrable Securities pursuant to a Registration Statement, Holders’ Counsel and any attorney, accountant or other agent retained by any such seller or any managing underwriter (each, an
“Inspector” and collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries (collectively, the “Records”) as
shall be reasonably necessary to enable them to exercise their due diligence responsibilities, and cause the Company’s and its subsidiaries’ officers, directors and employees, and the independent public accountants of the Company, to
supply all information reasonably requested by any such Inspector in connection with such Registration Statement; provided, that records that the Company determines, in good faith, to be confidential and which it notifies the Inspectors are
confidential shall not be disclosed by the Inspectors (and the Inspectors shall confirm their agreement in writing in advance to the Company if the Company shall so request) unless (x) the disclosure of such Records is necessary, in the
Company’s judgment, to avoid or correct a misstatement or omission in the Registration Statement, (y) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction after exhaustion of
all appeals therefrom or (z) the information in such Records was known to the Inspectors prior to its disclosure by the Company from sources not subject to any confidentiality obligation to the Company with respect to such information or such
information has been made generally available to the public; and provided, further, that each seller of Registrable Securities shall, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give
notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential; 

 

	 	(h)	 if such sale is pursuant to an underwritten offering, obtain “cold comfort” letters, dated the
effective date of the Registration Statement and the date of the closing under the underwriting agreement, from the Company’s independent public accountants in customary form and covering such matters of the type customarily covered by
“cold comfort” letters as the managing underwriter reasonably requests; 

  

	 	(i)	 comply with all applicable rules and regulations of the Commission, and make available to its security holders,
as soon as reasonably practicable but no later than fifteen (15) months after the effective date of the Registration Statement, an earnings statement covering a period of twelve (12) months beginning after the effective date of the
Registration Statement, in a manner which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

  

	 	(j)	 cause all such Registrable Securities to be listed on each securities exchange on which similar securities
issued by the Company are then listed, provided that the applicable listing requirements are satisfied; 

  

	 	(k)	 keep Holders’ Counsel advised in writing as to the initiation and progress of any registration under
Section 3, Section 4 or Section 5 hereunder; 

  

	 	(l)	 cooperate with each seller of Registrable Securities and each underwriter participating in the disposition of
such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and 

  
 16 

	 	(m)	 take all other steps reasonably necessary to effect the registration of the Registrable Securities contemplated
hereby. 

  

	8.2	 Notice to Discontinue. Each Holder of Registrable Securities agrees that, upon receipt of any notice
from the Company of the happening of any event of the kind described in Section 8.1(e), such Holder shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 8.1(e) and, if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies then in such Holder’s possession, of the prospectus covering such Registrable Securities which is current at the time of receipt of such notice. If the Company shall give any such notice, the Company shall
extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement (including, without limitation, the period referred to in Section 8.1(b)) by the number of days during the period from and
including the date of the giving of such notice pursuant to Section 8.1(e) to and including the date when sellers of such Registrable Securities under such Registration Statement shall have received the copies of the supplemented or amended
prospectus contemplated by and meeting the requirements of Section 8.1(e). 

  

	8.3	 Registration Expenses. The Company shall pay all expenses arising from or incident to its performance
of, or compliance with, this Agreement, including, without limitation, 

  

	 	(a)	 Commission, stock exchange and FINRA registration and filing fees; 

 

	 	(b)	 all fees and expenses incurred in complying with securities or “blue sky” laws (including reasonable
fees, charges and disbursements of counsel to any underwriter incurred in connection with “blue sky” qualifications of the Registrable Securities as may be set forth in any underwriting agreement); 

 

	 	(c)	 all printing, messenger and delivery expenses; 

 

	 	(d)	 the fees, disbursements and other charges of counsel to the Company and of the Company’s independent
public accountants and any other accounting fees, charges and expenses incurred by the Company (including, without limitation, any expenses arising from any “cold comfort” letters or any special audits incident to or required by any
registration or qualification), provided that in respect of each Demand Registration, expenses of any special audit shall be subject to a maximum of US$25,000; and 

 

	 	(e)	 any liability insurance or other premiums for insurance obtained in connection with any Demand Registration,
Incidental Registration or F-3 Registration pursuant to the provisions set forth in this Agreement, regardless of whether the relevant Registration Statement is declared effective. 

  
 17 

 All of the expenses described above in this Section 8.3 are referred to herein as
“Registration Expenses”. The Holders of Registrable Securities sold pursuant to a Registration Statement shall bear the expense of any broker’s commission or underwriter’s discount or commission relating to registration
and sale of such Holders’ Registrable Securities and, except as provided above, shall bear the fees, disbursements and other charges of their own counsel. Each Holder participating in a registration shall bear such Holder’s proportionate
share (based on the total number of securities sold in such registration other than for the account of the Company) of (a) all discounts, commissions or other amounts payable to underwriters, brokers or special counsel in connection with the
relevant offering and (b) expenses exceeding the maximum amounts stated in the proviso in paragraph (d) above; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun
pursuant to Sections 3 and 5, if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based
upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Section 3. 

SECTION 9 

INDEMNIFICATION; CONTRIBUTION 
  

	9.1	 Indemnification by the Company. To the extent permitted by law, the Company shall indemnify and hold
harmless each Holder, its partners, directors, officers and Affiliates and each Person who controls (within the meaning of Section 15 of the Securities Act) such Holder from and against any and all losses, claims, damages, liabilities and
reasonable expenses, including without limitation fees, disbursements and other charges of counsel and costs of investigation (each, a “Liability” and collectively, “Liabilities”) arising out of or based upon:

  

	 	(a)	 any untrue, or allegedly untrue, statement of a material fact contained in any Registration Statement,
prospectus, preliminary prospectus, notification or offering circular (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto); 

 

	 	(b)	 any omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading under the circumstances such statements were made; or 

  

	 	(c)	 any violation or alleged violation by the Company of the Securities Act, the Exchange Act, or any other
securities or other law of any jurisdiction, common law or otherwise, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any such other laws, in connection with any offering of Registrable Securities pursuant to a
Registration Statement; 

  
 18 

 except in each case insofar as such Liability arises out of or is based upon any untrue
statement or alleged untrue statement or omission or alleged omission contained in such Registration Statement, preliminary prospectus or final prospectus in reliance and in conformity with information concerning such Holder furnished in writing to
the Company by such Holder expressly for use therein. The Company shall also indemnify, to the same extent as provided above with respect to the indemnification of the Holders of Registrable Securities and otherwise as may be customary in connection
with similar underwritings, each underwriter of the Registrable Securities, its officers, directors and employees and each Person who controls (within the meaning of Section 15 of the Securities Act) such underwriter; provided,
however, that the indemnity agreement contained in this Section 9.1 shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not
be unreasonably withheld, nor shall the Company be liable for any Losses to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any
such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration. 
  

	9.2	 Indemnification by Holders. In connection with any Registration Statement in which a Holder is
participating pursuant to Section 3, Section 4 or Section 5 hereof, such Holder shall promptly furnish to the Company in writing such information with respect to such Holder as the Company may reasonably request or as may be required
by law for use in connection with any such Registration Statement or prospectus and all information with respect to such Holder required to be disclosed in order to make the information previously furnished to the Company by such Holder not
materially misleading or necessary to cause such Registration Statement not to omit a material fact with respect to such Holder necessary in order to make the statements therein not misleading. Each Holder shall indemnify and hold harmless the
Company, any underwriter underwriting a distribution of securities by the Company and each Person who controls (within the meaning of Section 15 of the Securities Act) the Company or such underwriter from and against any Liabilities arising out
of or based upon: 

  

	 	(a)	 any untrue, or allegedly untrue, statement of a material fact contained in any Registration Statement,
prospectus, preliminary prospectus, notification or offering circular (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto); or 

 

	 	(b)	 any omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading under the circumstances such statements were made, but in each case only to the extent that such statement, omission or alleged omission was made in reliance upon and in conformity with information with
respect to such Holder furnished in writing to the Company by such Holder expressly for use in such Registration Statement, prospectus, preliminary prospectus, notification or offering circular; 

  
 19 

 provided, however, that the total amount to be indemnified by such Holder
pursuant to this Section 9.2 shall be limited to the net proceeds received by such Holder in the offering to which the Registration Statement or prospectus relates. 
  

	9.3	 Conduct of Indemnification Proceedings. 

Any Person entitled to indemnification hereunder (the “Indemnified Party”) shall give prompt written notice to the
indemnifying party (the “Indemnifying Party”) after the receipt by the Indemnified Party of any written notice of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which the
Indemnified Party intends to claim indemnification or contribution pursuant to this Agreement; provided, however, that the failure so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any Liability that it
may have to the Indemnified Party hereunder (except to the extent that the Indemnifying Party is materially prejudiced or otherwise forfeits substantive rights or defenses by reason of such failure). If notice of commencement of any such action is
given to the Indemnifying Party as above provided in this Section 9.3, the Indemnifying Party shall be entitled to participate in and, to the extent it may elect, jointly with any other Indemnifying Party similarly notified, to assume the
defense of such action at its own expense, with counsel chosen by it and reasonably satisfactory to such Indemnified Party; provided, that the Indemnifying Party shall not have the right to assume the defense of any such action if
(a) the named parties to such action (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and the Indemnified Party has been advised by counsel that representation of the Indemnified Party and the
Indemnifying Party by the same counsel would be inappropriate under applicable standards of professional conduct or that there may be one or more legal defenses available to the Indemnified Party that are different from or additional to those
available to the Indemnifying Party, (b) the Indemnifying Party fails to assume the defense of such action promptly with counsel approved by the Indemnified Party as provided above or (c) the Indemnifying Party is unable to provide
evidence reasonably satisfactory to the Indemnified Party of its financial capacity to fulfill its indemnification obligations hereunder. If the Indemnifying Party assumes the defense of any such action, the Indemnified Party shall have the right to
employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be paid by the Indemnified Party except in the circumstances described in clause (a) of the immediately preceding
sentence. If the Indemnifying Party does not assume the defense of any such action, it shall not be liable for the fees, disbursements and other charges of more than one separate firm of attorneys (in addition to local counsel) for all Indemnified
Parties similarly situated in such action, except to the extent that any Indemnified Party is advised by counsel that representation of all Indemnified Parties by the same counsel would be inappropriate under applicable standards of professional
conduct or that there may be one or more legal defenses available to such Indemnified Party that are inconsistent with those available to other Indemnified Parties. No Indemnifying Party shall be liable for any settlement entered into without its
written consent, which consent shall not be unreasonably withheld. No Indemnifying Party shall, without the consent of such Indemnified Party, effect any settlement of any pending or threatened proceeding in respect of which such Indemnified Party
is a Party and has sought indemnification hereunder unless such settlement includes an unconditional release of such Indemnified Party from all liability for claims that are the subject matter of such proceeding. 

  
 20 

	9.4	 Contribution. 

 

	 	(a)	 If the indemnification provided for in this Section 9 from the Indemnifying Party is unavailable to an
Indemnified Party hereunder in respect of any Liabilities referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
Liabilities in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions which resulted in such Liabilities, as well as any other relevant equitable considerations.
The relative faults of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact, has been made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the Parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such action. The amount paid or payable by a Party as a result of the Liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 9.1, 9.2 and 9.3, any legal or other fees, charges or expenses
reasonably incurred by such Party in connection with any investigation or proceeding; provided that the total amount to be contributed by such Holder shall be limited to the net proceeds received by such Holder in the offering.

  

	 	(b)	 The Parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 9.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

SECTION 10 
 RULE
144 
  

	10.1	 From and after the IPO Effectiveness Date, the Company shall (a) file any reports required to be filed by
it under the Exchange Act, (b) make and keep public information available, as those terms are understood or defined under Rule 144 and (c) take such further action as each Holder of Registrable Securities may reasonably request (including
providing any information necessary to comply with Rule 144 under the Securities Act), all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the
limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such rule may be amended from time to time, or Regulation S under the Securities Act or (b) any similar rules or regulations hereafter adopted by the
Commission. The Company shall, upon the request of any Holder, deliver to such Holder a written statement as to whether it has complied with such requirements. 

  
 21 

 SECTION 11 

NON-U.S. LISTINGS 

In the event that the Ordinary Shares are listed on any securities exchange outside the United States, the Company shall (a) use all reasonable and
diligent efforts to cause all Conversion Shares to be approved for listing and freely tradable on such stock exchange, subject to any lock-ups required pursuant to the rules and regulations of the relevant
exchange or applicable securities law and (b) furnish to the Holders such number of copies of prospectuses and such other documents as they may reasonably request to facilitate the disposition of Conversion Shares by the Holders on such
exchange. 
 SECTION 12 

MISCELLANEOUS 
  

	12.1	 Termination of Registration Rights. The right of any Holder to request registration or inclusion of
Registrable Securities in any registration pursuant to Sections 3, 4, and 5 shall terminate upon the earliest to occur of: (a) the fifth anniversary of the IPO Effectiveness Date; or (b) such time as Rule 144 or another similar exemption
under the Securities Act is available for the sale of all of such Holder’s Registrable Securities without limitation during a thirty-day period without registration. 

 

	12.2	 Recapitalizations, Exchanges, etc. The provisions of this Agreement shall apply to the full extent set
forth herein with respect to (a) the Ordinary Shares, (b) any and all ordinary or ordinary shares of common stock of the Company into which the Ordinary Shares are converted, exchanged or substituted in any recapitalization or other
capital reorganization by the Company and (c) any and all equity securities of the Company, any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in conversion
of, in exchange for or in substitution of, the Ordinary Shares. The Company shall cause any successor or assign (whether by merger, consolidation, sale of assets or otherwise) to enter into a registration rights agreement with the Holders on terms
substantially the same as this Agreement as a condition of any such transaction. 

  

	12.3	 No Inconsistent Agreements. The Company represents and warrants that it has not granted to any Person
the right to request or require the Company to register any securities issued by the Company, other than the rights granted to the Holders herein. Without the prior written consent of Holders holding in aggregate not less than 66% of the Registrable
Securities then outstanding, the Company shall not enter into any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or grant any additional registration rights (including any
incidental or piggyback registration right that is in any respect superior to the right to Incidental Registration to which the Holders are entitled) to any Person or with respect to any securities which are not Registrable Securities which are
prior in right to or inconsistent with the rights granted in this Agreement. 

  
 22 

	12.4	 Remedies. The Holders, in addition to being entitled to exercise all rights granted by law, including
recovery of damages, shall be entitled to specific performance of their rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of
this Agreement and hereby agrees to waive in any action for specific performance the defense that a remedy at law would be adequate. 

  

	12.5	 Amendments and Waivers. Except as otherwise provided herein, the provisions of this Agreement may not be
amended, waived, modified or supplemented without the written consent of each Party. 

  

	12.6	 Notice Addresses and Method of Delivery. The initial address and facsimile for each Party for the
purposes of this Agreement are: 

  

					
	the Company:	  	 Attention:
 Address:
	 	 Yulin WANG
 Kingsoft Tower, No 33 Xiao Ying West
Road, Haidian District, Beijing (100085)

		  	Electronic Mail: *
			
	the IDG Investor:	  	 Attention:
 Address:
	 	 Chi Sing HO
 c/o IDG Capital Management (HK)
Ltd. Unit 5505, The Center 99 Queen’s Road Central, Hong Kong

		  	Fax:	 	 *

		
		  	With a copy to:
			
		  	 Attention:
 Address:
	 	 Ms. Bin Li/Ms. Mi Zhou
 Room 616,
Tower A, COFCO Plaza, 8 Jianguomennei Dajie Beijing, 100005, P.R. China

		  	Fax:	 	 *

			
	Kingsoft:	  	 Attention:
 Address:
	 	 Francis NG
 Kingsoft Tower, No 33 Xiao Ying West
Road, Haidian District, Beijing (100085)

		  	Electronic Mail: *

  
 23 

					
	the AMC Investor:	  	 Attention: Zhang Xiaoling
 Address:
P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
 Fax: *

		
	the CM Investor:	  	 Attention: Vivien Wong
 Address:
48/F, One Exchange Square, 8 Connaught
 Place, Central, Hong Kong

Electronic Mail: *

		
	the Metawit Investor:	  	 Attention: Tseng, Kuo-Lung

Address: Suite 1603, 135 Trade Center,135 Bonham Strand, Sheung Wan, Hong Kong

Electronic Mail: *

		
	the Minsheng Investor:	  	 Attention: Zheng Cao
 Address: 18/F,
Tower C, Minsheng Financial Center, No.28 Jianguomennei Avenue, Beijing, China
 Electronic Mail: *

		
	the Shunwei Investor:	  	 Attention: MR. TUCK LYE KOH (许达来)

Address: Vistra Corporate Services Center, Wickhams Cay II, Road Town, Tortola, VG 1110, British Virgin Islands

Electronic Mail: *
  

With a copy to:
  

Attention: Mr. Tuck Lye Koh (许达来)

Address: Unit 1309A, 13/F, Cable TV Tower, No. 9 Hoi Shing Road, Tsuen Wan, N.T., Hong Kong

Email: *
 Telephone: *

Fax: *

		
	the Forebright Investor:	  	 Attention: the Board of Director

Address: C/O Forebright Capital Management Limited, Suite 3720 Jardine House, 1 Connaught Place, Central, Hong Kong

Electronic Mail: *

		
	FutureX Capital:	  	 Attention: Laurel Rong
 Address:
Units 2401-03, 24/F., Grand Millennium Plaza,181 Queen’s Road Central, Hong Kong
 Electronic Mail:
*

  
 24 

					
	the CIIF Investor	  	 Attention: CHENG Fan (程帆)

Address: Building 20, No. 1 Tianning Cultural and Technological Innovation Park, No. 16 Lianhuachi East Road, Xicheng District, Beijing

Fax: *
 Email: *

		
	the CCBI Investor	  	 Attention: Ricky Gao
 Address: 12/F,
CCB Tower, 3 Connaught Road Central, Central, Hong Kong
 Fax: *

Email: *
  

Attention: Jason Han
 Address: 12/F, CCB Tower, 3 Connaught Road
Central, Central, Hong Kong
 Fax: *
 Email: *

  

	12.7	 Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be
binding upon the heirs, legatees, legal representatives, successors and permitted assigns of each of the Parties hereto, including without limitation, and without the need for an express assignment, subsequent Holders of Registrable Securities;
provided, that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms hereof or of the Shareholders Agreement. If any transferee of any Holder shall
acquire Registrable Securities in any manner, whether by operation of law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement and, by taking and holding such Registrable Securities, such Person shall
be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and shall be entitled to receive the benefits hereof, provided that the Holder has given written notice to the Company in respect
of the transfer and that such transfer (a) is in connection with a transfer of all of its Registrable Securities, (b) involves a transfer of at least 100,000 Registrable Securities or (c) is made to institutional partner(s) of the
Holder or any transferees who agreed to act through a single representative. Except as provided in Section 9, no Person other than the parties hereto and their heirs, legatees, legal representatives, successors and permitted assigns is intended
to be a beneficiary of any of the rights granted hereunder. 

  

	12.8	 Counterparts. This Agreement may be executed in fifteen counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Facsimile and e-mailed copies of signatures
shall be deemed to be originals for purposes of the effectiveness of this Agreement. 

  

	12.9	 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 

  

	12.10	 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW OF ANY JURISDICTION. 

  
 25 

	12.11	 Arbitration. 

  

	 	(a)	 Any dispute, controversy or claim arising out of, in connection with or relating to this Agreement (or the
interpretation, breach, termination or validity thereof) shall be resolved through arbitration. A dispute may be submitted to arbitration upon the request of either Party with written notice to the other (the “Arbitration Notice”).

  

	 	(b)	 The arbitration shall be conducted in Hong Kong and administered by the Hong Kong International Arbitration
Centre (the “HKIAC”) under the UNCITRAL Arbitration Rules in force at the time of the initiation of the arbitration. There shall be three (3) arbitrators. The claimants to the dispute shall collectively choose one arbitrator,
and the respondents shall collectively choose one arbitrator, within thirty (30) days after the delivery of the Notice to the other Party. Both arbitrators shall agree on the third arbitrator within thirty (30) days of their appointment.
If any of the members of the arbitral tribunal have not been appointed within thirty (30) days after the Arbitration Notice is given, the relevant appointment shall be made by the Secretary General of the HKIAC. The arbitration shall be
conducted in the English language. 

  

	 	(c)	 Each Party shall cooperate with the other in making full disclosure of and providing complete access to all
information and documents requested by the other in connection with such arbitration proceedings, subject only to any doctrine of legal privilege or any confidentiality obligations binding on such Party. 

 

	 	(d)	 The costs of arbitration shall be borne by the losing Party, unless otherwise determined by the arbitration
tribunal. 

  

	 	(e)	 When any dispute occurs and when any dispute is under arbitration, except for the matters in dispute, the
Parties shall continue to fulfill their respective obligations and shall be entitled to exercise their rights under this Agreement. 

  

	 	(f)	 The award of the arbitration tribunal shall be final and binding upon the Parties, and the prevailing Party may
apply to a court of competent jurisdiction for enforcement of such award. 

  

	 	(g)	 Either Party shall be entitled to seek preliminary injunctive relief from any court of competent jurisdiction
pending the constitution of the arbitration tribunal. 

  

	 	(h)	 The Parties to this Agreement are bound by this arbitration agreement (the “Arbitration
Agreement”), each to each other, provided they have signed this Agreement. 

  
 26 

	 	(i)	 The Parties to this Arbitration Agreement agree to the consolidation of arbitrations in accordance with the
provisions of this Section 12.11. 

  

	 	(i)	 In the event of two or more arbitrations having been commenced under the Arbitration Agreement, the tribunal in
the arbitration first filed (the “Principal Tribunal”) may in its sole discretion, upon the application of any Party to the arbitrations, order that the proceedings be consolidated before the Principal Tribunal if (1) there are
issues of fact and/or law common to the arbitrations, (2) the interests of justice and efficiency would be served by such a consolidation, and (3) no prejudice would be caused to any Party in any material respect as a result of such
consolidation, whether through undue delay or otherwise. Such application shall be made as soon as practicable and the Party making such application shall give notice to the other Parties to the arbitrations. 

 

	 	(ii)	 The Principal Tribunal shall be empowered to (but shall not be obliged to) order at its discretion, after
inviting written (and where desired oral) representations from the Parties that all or any of such arbitrations shall be consolidated or heard together and/or that the arbitrations be heard immediately after another and shall establish a procedure
accordingly. All Parties shall take such steps as are necessary to give effect and force to any orders of the Principal Tribunal. 

  

	 	(iii)	 If the Principal Tribunal makes an order for consolidation, it: (1) shall thereafter, to the exclusion of
other arbitral tribunals, have jurisdiction to resolve all disputes forming part of the consolidation order; (2) shall order that notice of the consolidation order and its effect be given immediately to any arbitrators already appointed in
relation to the disputes that were consolidated under the consolidation order; and (3) may also give such directions as it considers appropriate (i) to give effect to the consolidation and make provision for any costs which may result from
it (including costs in any arbitration rendered functus officio under this Section 12.11); and (ii) to ensure the proper organization of the arbitration proceedings and that all the issues between the Parties are properly formulated
and resolved. 

  

	 	(iv)	 Upon the making of the consolidation order, any appointment of arbitrators relating to arbitrations that have
been consolidated by the Principal Tribunal (except for the appointment of the arbitrators of the Principal Tribunal itself) shall for all purposes cease to have effect and such arbitrators are deemed to be functus officio, on and from the
date of the consolidation order. Such cessation is without prejudice to (1) the validity of any acts done or orders made by such arbitrators before termination, (2) such arbitrators’ entitlement to be paid their proper fees and
disbursements and (3) the date when any claim or defense was raised for the purpose of applying any limitation period or any like rule or provision. 

  

	 	(v)	 The Parties hereby waive any objections they may have as to the validity and/or enforcement of any arbitral
awards made by the Principal Tribunal following the consolidation of disputes or arbitral proceedings in accordance with this Section 12.11 where such objections are based solely on the fact that consolidation of the same has occurred.

  
 27 

	12.12	 Severability. If any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired, it
being intended that all of the rights and privileges of the Holders shall be enforceable to the fullest extent permitted by law. 

  

	12.13	 Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and
intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein and in the other Transaction Documents (as defined in the Shareholders Agreement). This Agreement supersedes all prior agreements and understandings among the parties with respect to such subject matter including the Prior
Registration Agreement. 

  

	12.14	 Further Assurances. Each of the Parties shall execute such documents and perform such further acts as
may be reasonably required or necessary to carry out or to perform the provisions of this Agreement. 

  

	12.15	 Other Agreements. Nothing contained in this Agreement shall be deemed to be a waiver of, or release
from, any obligations any party hereto may have under, or any restrictions on the transfer of Registrable Securities or other securities of the Company imposed by, any other agreement including, but not limited to, the Series D+ Share Purchase
Agreements (as defined in the Shareholders Agreement) or the Shareholders Agreement. 

 [Remainder of page intentionally
left blank] 

  
 28 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	KINGSOFT CLOUD HOLDINGS LIMITED
		
	By:	 	 /s/ Yulin Wang

	Name: Yulin Wang
	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	CELESTIAL POWER LIMITED
		
	By:	 	 /s/ Chi Sing Ho

	 Name: Chi Sing Ho
 Title: Authorised
Signatory

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

							
		 	KINGSOFT CORPORATION LIMITED
				
		 		 	By:	 	 /s/ Ng Yuk Keung

		 		 	Name: Ng Yuk Keung
		 		 	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	CHINAAMC SPECIAL INVESTMENT LIMITED
		
	By:	 	 /s/ Xiaoling Zhang

	 Name: Xiaoling Zhang
 Title:
Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	BUDDIES TEAM LIMITED
		
	By:	 	 /s/ Vivien Wong

	 Name: Vivien Wong
 Title:
Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	 METAWIT Capital L.P.
 (元慧资本有限合伙)

		
	By:	 	 /s/ Tseng, Kuo-Lung

	 Name: Tseng, Kuo-Lung

Title: Authorized Signatory of METAWIT Management Ltd acting as General Partner for and on behalf of METAWIT Capital L.P.

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	NEW CLOUD LTD. 
		
	By:	 	 /s/ Dingzhe Liu

	 Name: Dingzhe Liu
 Title:
Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	SHUNWEI GROWTH III LIMITED
		
	By:	 	 /s/ Tuck Lye KOH

	 Name: Tuck Lye KOH
 Title:
Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	PRECIOUS STEED LIMITED
		
	By:	 	 /s/ Ip Kun Wan

	 Name: Ip Kun Wan
 Title: Authorised
Signature

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

							
		 	FUTUREX INNOVATION SPC – Special Opportunity Fund VI SP
				
		 		 	By:	 	 /s/ Zhang Qian

		 		 	Name: Zhang Qian
		 		 	Title: Director
		
		 	FutureX AI Opportunity Fund LP (acting through FutureX Innovation Limited as its general partner)
				
		 		 	By:	 	 /s/ Zhang Qian

		 		 	Name: Zhang Qian
		 		 	Title: Director
		
		 	FutureX Innovation SPC (acting for and on behalf of New Technology Fund I SP as one of its segregated portfolios)
				
		 		 	By:	 	 /s/ Zhang Qian

		 		 	Name: Zhang Qian
		 		 	Title: Director
		
		 	Howater Innovation I Limited Partnership
				
		 		 	By:	 	 /s/ Zhang Qian

		 		 	Name: Zhang Qian
		 		 	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

	
	 CHINA INTERNET INVESTMENT FUND.
 (中国互联网投资基金(有限合伙))

	
	Seal: /s/ Seal of China Internet Investment Fund.

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

							
		 	DESIGN TIME LIMITED
				
		 		 	By:	 	 /s/ Li Ngai

		 		 	Name: Li Ngai
		 		 	Title: Director

 KINGSOFT CLOUD HOLDINGS LIMITED 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

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