<SEC-DOCUMENT>0001213900-25-061375.txt : 20250703
<SEC-HEADER>0001213900-25-061375.hdr.sgml : 20250703
<ACCEPTANCE-DATETIME>20250703134207
ACCESSION NUMBER:		0001213900-25-061375
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250703
DATE AS OF CHANGE:		20250703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Webull Corp
		CENTRAL INDEX KEY:			0001866364
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-286880
		FILM NUMBER:		251104895

	BUSINESS ADDRESS:	
		STREET 1:		200 CARILLON PARKWAY
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33716
		BUSINESS PHONE:		917-725-2448

	MAIL ADDRESS:	
		STREET 1:		200 CARILLON PARKWAY
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33716
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>ea024803002-424b3_webull.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
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<P STYLE="text-align: right; margin: 0">Filed pursuant to Rule 424(b)(3)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration No. 333-286880</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PROSPECTUS SUPPLEMENT NO. 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(to the Prospectus dated May 9, 2025)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="image_001.jpg" ALT=""><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Webull Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 147,445,012 Webull Class A Ordinary Shares,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 6,792,000 Webull Private Warrants,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 20,000,000 Webull Incentive Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 17,271,990 Webull Class A Ordinary Shares
underlying Webull Warrants, and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to 20,913,089 Webull Class A Ordinary Shares
underlying Webull Incentive Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus supplement
(this &ldquo;Prospectus Supplement No. 4&rdquo;) is part of the prospectus of Webull Corporation (the &ldquo;Company&rdquo;), dated May
9, 2025 (as supplemented to date, the &ldquo;Prospectus&rdquo;), which forms a part of the Company&rsquo;s registration statement on Form
F-1 (Registration No. 333-286880) (the &ldquo;Registration Statement&rdquo;), related to (1) the offer and sale from time to time by the
Selling Securityholders of up to (a) 147,445,012 Webull Class A Ordinary Shares (including up to 20,000,000 Webull Class A Ordinary Shares
issuable upon exercise of the Incentive Warrants described in (c) immediately below), (b) 6,792,000 Webull Private Warrants held by Auxo
and purchased by Auxo at $1.00 per warrant from SKGR prior to the assumption of such warrants by Webull in connection with the Business
Combination, and (c) 20,000,000 Webull Incentive Warrants issued for no consideration in connection with the Business Combination to certain
Existing Webull Shareholders; and (2) the issuance and sale by us of up to (a) 17,271,990 Webull Class A Ordinary Shares underlying Webull
Warrants exercisable at $11.50 per share (subject to adjustment), including 6,792,000 Webull Private Warrants held by Auxo and which may
be exercised on a cashless basis or at $11.50 per share (subject to adjustment), and (b) 20,913,089 Webull Class A Ordinary Shares underlying
Webull Incentive Warrants that are initially exercisable at $10.00 per share (subject to adjustment) by certain Existing Webull Shareholders
and by holders of SKGR Class A Ordinary Shares that did not redeem such shares in connection with the Business Combination.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Capitalized terms used but
not defined herein have the meanings ascribed to them in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of this Prospectus
Supplement No. 4 is to update and supplement the information included in the Prospectus with the information contained in our Report on
Form 6-K which was submitted to the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on July 3, 2025 and is included immediately
following the cover page of this Prospectus Supplement No. 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">This
Prospectus Supplement No. 4 is not complete without, and may not be utilized except in connection with, the Prospectus, including any
supplements and amendments thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
may further amend or supplement the Prospectus and information in this Prospectus Supplement No. 4 from time to time by filing amendments
to the Registration Statement or other supplements to the Prospectus, as required. You should read the entire Prospectus, this Prospectus
Supplement No.&nbsp;4, any amendments to the Registration Statement, subsequent supplements to the Prospectus or prior supplements to
the Prospectus (to the extent information therein is not superseded by more up to date information in subsequent supplements to the Prospectus)
carefully before you make your investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Webull Class A Ordinary Shares and Webull Warrants are listed on the Nasdaq Stock Market LLC (&ldquo;Nasdaq&rdquo;) under the symbols
&ldquo;BULL&rdquo; and &ldquo;BULLW&rdquo;, respectively. On July 2, 2025, the last reported prices of the Webull Class A Ordinary Shares
and Webull Warrants, as reported on the Nasdaq, were $14.01 and $5.10, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Investing in our securities
involves risks. See &ldquo;Risk Factors&rdquo; beginning on page 7 of the Prospectus. Neither the SEC nor any state securities commission
has approved or disapproved of these securities or determined if the Prospectus, as supplemented by this Prospectus Supplement No. 4,
is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this Prospectus Supplement No. 4
is July 3, 2025.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of July 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-42597</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Webull Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>200 Carillon Parkway<BR>
St. Petersburg, Florida 33716</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40- F.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F &#9746; Form 40-F &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION CONTAINED IN THIS REPORT ON FORM
6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Completion of Incentive Warrant Redemption</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 30, 2025, Webull Corporation
(the &ldquo;Company&rdquo;) redeemed all of its outstanding incentive warrants (the &ldquo;Incentive Warrants&rdquo;) to purchase shares
of the Company&rsquo;s Class A ordinary shares, par value $0.00001 per share (the &ldquo;Ordinary Shares&rdquo;), at an exercise of $10.00
per share. Prior to the redemption, a total of 20,453,945 Incentive Warrants were exercised, resulting in aggregate gross proceeds to
the Company of $204.5 million. The remaining 459,144 Incentive Warrants that were not exercised on or prior to June 30, 2025 were redeemed
at $0.01 per warrant. As of July 1, 2025, no Incentive Warrants remain issued or outstanding.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Entry into a Standby Equity Purchase Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 1, 2025 (the &ldquo;Effective
Date&rdquo;), the Company, entered into a standby equity purchase agreement (the &ldquo;Purchase Agreement&rdquo;) with YA II PN, Ltd.
(&ldquo;Yorkville&rdquo;), pursuant to which the Company shall have the right, but not the obligation, to issue to Yorkville, and Yorkville
shall have the obligation to subscribe for, Ordinary Shares for an aggregate subscription amount of up to $1.0 billion (the &ldquo;Commitment
Amount&rdquo;), at any time during the commitment period of 36 months from the Effective Date (each such occurrence, an &ldquo;Advance&rdquo;),
subject to the restrictions and satisfaction of the conditions in the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Ordinary Share to be
issued to Yorkville from time to time under the Purchase Agreement will be issued at 97.5% of the Market Price (as defined below) for
the trading day on which an Advance notice (each such notice, an &ldquo;Advance Notice&rdquo;) is delivered by the Company to Yorkville,
commencing upon confirmation of such receipt by Yorkville and ending at 4:00 p.m. New York City time on that same trading day (&ldquo;Pricing
Period&rdquo;). &ldquo;Market Price&rdquo; is defined as the volume weighted average trading price of the Ordinary Shares on the Nasdaq
Stock Market (&ldquo;Nasdaq&rdquo;) during the relevant Pricing Period. In connection with an Advance, if the total trading volume of
the Company&rsquo;s Ordinary Shares on Nasdaq during the applicable Pricing Period is below the Volume Threshold (as defined below), the
number of Ordinary Shares issued and sold pursuant to such Advance Notice will be reduced to the greater of (a) 30% of the trading volume
during such period, or (b) the number of Ordinary Shares sold by Yorkville, but in each case not to exceed the amount requested in the
Advance Notice. The &ldquo;Volume Threshold&rdquo; means a number of Ordinary Shares equal to the quotient of (a) the number of Ordinary
Shares requested to be sold by the Company in an Advance Notice divided by (b) 0.30. There is no limit on the timing or frequency with
which the Company may deliver to Yorkville an Advance Notice, provided that the Company shall have delivered all Ordinary Shares relating
to all prior Advance Notices before issuing a new Advance Notice.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Advances are subject to
certain limitations, including that Yorkville will not be obligated to (a) subscribe for or acquire any Ordinary Shares which, when aggregated
with all other Ordinary Shares beneficially owned by Yorkville under the Purchase Agreement, would result in the beneficial ownership
of more than 4.99% of the then outstanding voting power or number of Ordinary Shares at the time of an Advance (the &ldquo;Ownership Limitation&rdquo;),
or (b) acquire since the Effective Date under the Purchase Agreement more than 19.99% of the aggregate number of Ordinary Shares issued
and outstanding (i.e. 96,891,594 Ordinary Shares), subject to certain adjustments (the &ldquo;Exchange Cap&rdquo;). The Exchange Cap will
not apply under certain circumstances, including, (a) where the Company has obtained shareholder approval for issuances of Ordinary Shares
in excess of the Exchange Cap in accordance with the rules of Nasdaq or where such issuances do not require shareholder approval under
Nasdaq&rsquo;s &ldquo;minimum price rule&rdquo; or (b) if the Company takes actions to adopt a home country practice that would allow
the Company to issue Ordinary Shares pursuant to the Purchase Agreement without regard to the limitations imposed by Nasdaq Rule 5635(d).
In addition, an Advance cannot exceed the number of Ordinary Shares registered for resale by Yorkville under a resale registration statement
then in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with entry into
the Purchase Agreement, the Company agreed to pay Yorkville a structuring fee in the amount of $25,000. In addition, as consideration
for Yorkville&rsquo;s subscription commitment, the Company will pay a commitment fee equal to 0.20% of the Commitment Amount (the &ldquo;Commitment
Fee&rdquo;) in the form of 159,236 Ordinary Shares, which is based on the closing price of the Webull Class A Ordinary Shares on Nasdaq
on the Effective Date (the &ldquo;Commitment Shares&rdquo;). The Commitment Shares shall be issued to Yorkville within three business
days from the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Purchase Agreement will
terminate automatically on the earlier of July 1, 2028 or when Yorkville has subscribed for Ordinary Shares equal to the Commitment Amount
in accordance with the terms of the Purchase Agreement. In addition, the Company has the right to unilaterally terminate the Purchase
Agreement upon two trading days&rsquo; prior written notice to Yorkville, provided that (i)&nbsp;there are no outstanding Advance Notices
under which Ordinary Shares have yet to be issued, and (ii)&nbsp;the Company has paid all amounts owed to Yorkville pursuant to the Purchase
Agreement, including the Commitment Fee. Yorkville has covenanted not to engage in any direct or indirect short selling of Ordinary Shares
during the term of the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Report on Form 6-K (this
&ldquo;Report&rdquo;) shall not constitute an offer to sell or the solicitation to buy nor shall there be any sale of the Ordinary Shares
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Purchase Agreement contains
customary representations, warranties, covenants, closing conditions and indemnification provisions. Sales of Ordinary Shares under the
Purchase Agreement may commence only after certain conditions have been satisfied, including the effectiveness of a resale registration
statement on Form&nbsp;F-1&nbsp;to be filed by the Company covering the resale of the Ordinary Shares issued or to be sold by the Company
to Yorkville under the Purchase Agreement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The proceeds from the sale
of the Ordinary Shares by the Company to Yorkville shall be used by the Company in the manner as will be set forth in the Prospectus included
in any registration statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Purchase
Agreement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Purchase Agreement does not purport to be complete and is qualified in its entirety by the full text of the Purchase Agreement,
the form of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Report and Exhibits 99.1
and 99.2 to this Report shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934 (the
&ldquo;Exchange Act&rdquo;) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference
in any filing under the Securities Act of 1933 or the Exchange Act, except as otherwise expressly stated in such future filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description of Exhibits</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release, dated July 3, 2025.</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Standby Equity Purchase Agreement, dated July 1, 2025, by and between Webull Corporation and YA II PN, Ltd.</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Report includes &ldquo;forward-looking statements&rdquo;
within the meaning of the &ldquo;safe harbor&rdquo; provisions of the United States Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact contained in this report or other statements of the Company are forward-looking
statements, including statements related to the sales and offering proceeds in connection with the execution of the Purchase Agreement.
Some of these forward-looking statements can be identified by the use of forward-looking words, including &ldquo;anticipate,&rdquo; &ldquo;expect,&rdquo;
&ldquo;suggests,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;seek,&rdquo;
&ldquo;future,&rdquo; &ldquo;propose,&rdquo; &ldquo;continue,&rdquo; &ldquo;intend,&rdquo; &ldquo;estimates,&rdquo; &ldquo;targets,&rdquo;
&ldquo;projects,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;forecast&rdquo;
or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such
terminology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All forward-looking statements are based upon
current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management
as of the date of this report, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently
known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking
statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and manage growth profitably,
maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the
reliance of key functions of the Company&rsquo;s business on third-parties and the risk that the Company&rsquo;s platform and systems
rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network
interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company&rsquo;s global operations
and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory
environments that may result in substantial costs or require adverse changes to the Company&rsquo;s business practices; (4) the Company&rsquo;s
estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the Company&rsquo;s expectations
regarding demand for and market acceptance of its products and service; (5) the Company&rsquo;s reliance on trading related income, including
payment for order flow (&ldquo;PFOF&rdquo;), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company&rsquo;s
exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets
and their respective trading volumes; (7) the Company&rsquo;s reliance on a limited number of market makers and liquidity providers to
generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8)
the effects of competition in the Company&rsquo;s industry and the Company&rsquo;s need to constantly innovate and invest in new markets,
products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and
trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related
to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further
actions taken by various government bodies in&#8239;the United States&#8239;that have made the Company the subject of inquiries and investigations
relating to concerns about our connections to&#8239;China; (12) the risk that the failure to protect customer data and privacy or to prevent
security breaches relating to the Company&rsquo;s platform could result in economic loss, damage to its reputation, deter customers from
using its products and services, and expose it to legal penalties and liability; (13) risks related to the Company&rsquo;s need as a regulated
financial services company to develop and maintain effective compliance and risk management infrastructures as well as to maintain capital
levels required by regulators and self-regulatory organizations; (14) the ability to meet, or continue to meet, stock exchange listing
standards; (15) the possibility of adverse developments in pending or new litigation and regulatory investigations; (16) our ability to
meet conditions precedents to issue Ordinary Shares to Yorkville under the Purchase Agreement and the fact that there can be no guarantee
of how many Ordinary Shares will be sold under the Purchase Agreement, if any at all; (17) risks related to significant disruptions in
the cryptocurrency market that negatively impacts user engagement with cryptocurrency trading on our platform; (18) political, regulatory
or economic changes that affect cryptocurrencies, including changes in the governance of a cryptocurrency; and (19) other risks and uncertainties
that are more fully described in filings made, or to be made, by the Company with the SEC, including in the sections entitled &ldquo;Risk
Factors&rdquo; and &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo; in the Company&rsquo;s filings with the SEC. The
foregoing list of factors is not exhaustive. Reported results should not be considered an indication of future performance. There may
be additional risks that the Company and its management presently do not know about or that the Company and its management currently believe
are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In light
of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this report may not occur, and any
estimates, assumptions, expectations, forecasts, views or opinions set forth in this report should be regarded as preliminary and for
illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes
no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future
events, or otherwise, except as required by law.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WEBULL CORPORATION</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: July 3, 2025</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Anquan Wang </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anquan Wang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><A NAME="a_001"></A>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Webull Announces
$1 Billion Standby Equity Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B></B></FONT>Company intends on opportunistically using capital for key growth initiatives</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ST. PETERSBURG, Fla., July 3, 2025 /PRNewswire/
-- Webull Corporation (Nasdaq: BULL) (&ldquo;Webull&rdquo; or the &ldquo;Company&rdquo;), the
owner of the Webull online investment platform, announced today that it has secured an important financing option by entering into a standby
equity purchase agreement (&ldquo;Purchase Agreement&rdquo;) with YA II PN, Ltd., an investment fund managed by Yorkville Advisors (&ldquo;Yorkville&rdquo;).
Subject to certain customary conditions, the Purchase Agreement grants Webull the option, at its sole discretion, to issue up to $1.0
billion in Class A ordinary shares to Yorkville over three years. The per share subscription price Yorkville will pay for the shares will
be a 2.5% discount to the Market Price (as that term is defined in the Purchase Agreement) during each one-day pricing period elected
by the Company. Webull intends to use the Purchase Agreement strategically to raise and deploy capital, using as little or as much as
circumstances warrant, when market conditions and business opportunities justify doing so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;With access to capital available through
the Purchase Agreement, Webull is well positioned to pursue new growth opportunities, such as product expansion, new asset classes, and
geographic expansion,&rdquo; said Anthony Denier, Group President and U.S. CEO of Webull. &ldquo;As we survey the evolving market landscape
and consider next-generation technologies in the space such as stable coins and real-world asset tokenization, access to capital will
be critical to our ability to innovate and compete on the cutting edge going forward.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>Webull
Corporation</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Webull Corporation (NASDAQ:<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT><B>BULL</B>)
owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network
of licensed brokerages, Webull offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America.
Webull serves more than 24 million registered users globally, providing retail investors with 24/7 access to global financial markets.
Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through
Webull&rsquo;s trading platform, which seamlessly integrates market data and information, its user community, and investor education resources.
Learn more at<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT><B>www.webullcorp.com</B>.<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>You
may also access certain information on Webull and its securities on the website of the SEC at<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT><B>http://www.sec.gov</B>,
where Webull will, among others, be filing reports, such as Reports on Form 6-K and its Annual Report on Form 20-F.<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Cautionary Note Regarding Forward-Looking Statements</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release includes &ldquo;forward-looking
statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions of the United States Private Securities Litigation Reform
Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company
are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including
&ldquo;anticipate,&rdquo; &ldquo;expect,&rdquo; &ldquo;suggests,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;predict,&rdquo;
&ldquo;potential,&rdquo; &ldquo;seek,&rdquo; &ldquo;future,&rdquo; &ldquo;propose,&rdquo; &ldquo;continue,&rdquo; &ldquo;intend,&rdquo;
&ldquo;estimates,&rdquo; &ldquo;targets,&rdquo; &ldquo;projects,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo;
&ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;forecast&rdquo; or the negatives of these terms or variations of them or similar terminology
although not all forward-looking statements contain such terminology.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All forward-looking statements are based upon
current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management
as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not
currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied
by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and
manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management
and key employees; (2) the reliance of key functions of the Company&rsquo;s business on third-parties and the risk that the Company&rsquo;s
platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in
unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company&rsquo;s
global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political
or regulatory environments that may result in substantial costs or require adverse changes to the Company&rsquo;s business practices;
(4) the Company&rsquo;s estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the
Company&rsquo;s expectations regarding demand for and market acceptance of its products and service; (5) the Company&rsquo;s reliance
on trading related income, including payment for order flow (&ldquo;PFOF&rdquo;), and the risk of new regulation or bans on PFOF and similar
practices; (6) the Company&rsquo;s exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices
of securities and digital assets and their respective trading volumes; (7) the Company&rsquo;s reliance on a limited number of market
makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market
makers or liquidity providers; (8) the effects of competition in the Company&rsquo;s industry and the Company&rsquo;s need to constantly
innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes
in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting
our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company
operates; (11) risk of further actions taken by various government bodies in<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>the
United States<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>that have made the Company the subject of inquiries
and investigations relating to concerns about our connections to<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;</FONT>China;
(12) the risk that the failure to protect customer data and privacy or to prevent security breaches relating to the Company&rsquo;s platform
could result in economic loss, damage to its reputation, deter customers from using its products and services, and expose it to legal
penalties and liability; (13) risks related to the Company&rsquo;s need as a regulated financial services company to develop and maintain
effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and self-regulatory
organizations; (14) the ability to meet, or continue to meet, stock exchange listing standards; (15) the possibility of adverse developments
in pending or new litigation and regulatory investigations; (16) our ability to meet conditions precedents to issue Class A ordinary shares
to Yorkville under the Purchase Agreement and the fact that there can be no guarantee of how many Class A ordinary shares will be sold
under the Purchase Agreement, if any at all; (17) risks related to significant disruptions in the cryptocurrency market that negatively
impacts user engagement with cryptocurrency trading on our platform; (18) political, regulatory or economic changes that affect cryptocurrencies,
including changes in the governance of a cryptocurrency; and (19) other risks and uncertainties that are more fully described in filings
made, or to be made, by the Company with the SEC, including in the sections entitled &ldquo;Risk Factors&rdquo; and &ldquo;Cautionary
Note Regarding Forward-Looking Statements&rdquo; in the Company&rsquo;s filings with the SEC. The foregoing list of factors is not exhaustive.
Reported results should not be considered an indication of future performance. There may be additional risks that the Company and its
management presently do not know about or that the Company and its management currently believe are immaterial that could also cause actual
results to differ materially from those contained in the forward-looking statements. In light of these factors, risks and uncertainties,
the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations,
forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and
accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required
by law.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Webull Investor Relations<BR>
</U></B>ir@webullcorp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Webull Media Relations<BR>
</U></B>5W Public Relations<BR>
Nicholas Koulermos<BR>
Webull@5WPR.com<BR>
(212) 999 - 5585&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><A NAME="a_002"></A>Exhibit 99.2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>STANDBY EQUITY PURCHASE AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS STANDBY EQUITY PURCHASE
AGREEMENT</B> (this &ldquo;<U>Agreement</U>&rdquo;) dated as of July 1, 2025 is made by and between <B>YA II PN, LTD.</B>, a Cayman Islands
exempt limited company (the &ldquo;<U>Investor</U>&rdquo;), and <B>WEBULL CORPORATION, </B>a Cayman Islands exempt company (the &ldquo;<U>Company</U>&rdquo;).
The Investor and the Company may be referred to herein individually as a &ldquo;Party&rdquo; and collectively as the &ldquo;Parties.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Parties
desire that, upon the terms and subject to the conditions contained herein, the Company shall have the right to issue and sell to the
Investor, from time to time as provided herein, and the Investor shall purchase from the Company, up to $1.0 billion of the Company&rsquo;s
Class A ordinary shares, par value $0.00001 per share (the &ldquo;<U>Ordinary Shares</U>&rdquo;), subject to the Exchange Cap (as defined
below), to the extent applicable, at a Purchase Price (as defined in <U>Annex I</U> hereto) that shall be determined in accordance with
this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Ordinary
Shares are listed for trading on Nasdaq (as defined in <U>Annex I</U> hereto) under the symbol &ldquo;BULL;&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the offer
and sale of the Ordinary Shares issuable hereunder will be made in reliance upon Section 4(a)(2) under the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder (the &ldquo;<U>Securities Act</U>&rdquo;), or upon such other exemption
from the registration requirements of the Securities Act as may be available with respect to any or all of the transactions to be made
hereunder; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in consideration
of the Investor&rsquo;s execution and delivery of this Agreement, the Company shall issue to the Investor the Commitment Shares pursuant
to and in accordance with <U>Section 11.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>,
the Parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article I. Certain Definitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Capitalized terms used in
this Agreement shall have the meanings ascribed to such terms in <U>Annex I</U> hereto, which is hereby made a part hereof, or as otherwise
set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article II. Advances</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.01&nbsp;<U>Advances;
Mechanics</U>. Upon the terms and subject to the conditions of this Agreement, during the Commitment Period, the Company, at its sole
discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor shall purchase from the
Company, Advance Shares by the delivery to the Investor of Advance Notices on the following terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><U>Advance Notice</U>. At any time during the Commitment Period the Company may require the Investor to
purchase Shares by delivering an Advance Notice to the Investor, subject to the satisfaction or waiver by the Investor of the conditions
set forth in <U>Annex II</U> hereto, and in accordance with the following provisions:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Company shall, in its sole discretion, select (a) the number of Advance Shares it desires to issue
and sell to the Investor in each Advance Notice, and (b) the time it desires to deliver each Advance Notice.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">There shall be no mandatory minimum Advances and there shall be no non-usage fee for not utilizing the
Commitment Amount or any part thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Each Advance Notice must include an Advance Share Estimate, which unless otherwise agreed to by the Investor,
shall equal the number of Advance Shares requested in such Advance Notice and must be accompanied by irrevocable instructions to the Company&rsquo;s
transfer agent to immediately issue and deliver to the Investor an amount of Ordinary Shares equal to the Advance Share Estimate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Promptly after issuing an Advance Notice to the Investor the Company will, or will cause its transfer
agent to, electronically transfer such number of Ordinary Shares equal to the Advance Share Estimate (as set forth in the Advance Notice)
to be credited to the Investor&rsquo;s account or its designee&rsquo;s account at the Depository Trust Company through its Deposit Withdrawal
at Custodian System (or by such other means of delivery as may be mutually agreed upon by the Parties) against payment by the Investor
of the par value of such shares, and transmit notification to the Investor that such share transfer has been requested. The Investor acknowledges
the requirements described in <U>Section 2.02(e)</U> herein and that any Ordinary Shares issued to the Investor pursuant to an Advance
Share Estimate will not bear any restrictive legends so long as there is an effective Registration Statement covering the resale of such
Ordinary Shares (it being understood and agreed (i) by the Investor that notwithstanding the lack of restrictive legends, the Investor
may only sell such Ordinary Shares pursuant to the Plan of Distribution set forth in the Prospectus included in the applicable Registration
Statement and otherwise in compliance with the requirements of the Securities Act (including any applicable prospectus delivery requirements)
or pursuant to an available exemption), and (ii) by the Investor that the Company and its legal counsel may rely on the Investor&rsquo;s
acknowledgment included in the foregoing item (i) in this sentence in connection with the issuance of the Ordinary Shares to the Investor
and the delivery of instructions and opinions to the transfer agent or the Investor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><U>Date of Delivery of Advance Notice</U>. Advance Notices shall be delivered in accordance with the instructions
set forth on the bottom of <U>Exhibit A</U> attached hereto. An Advance Notice shall only be delivered on a Trading Day and shall be deemed
delivered on the day such notice is received by the Investor following e-mail delivery of the Advance Notice pursuant to the delivery
instructions included in <U>Exhibit A</U> attached hereto. Upon receipt of an Advance Notice, the Investor shall promptly (and in no event
more than one-half hour after receipt) provide written confirmation (which may be by e-mail) of receipt of such Advance Notice, and which
confirmation shall specify the commencement time of the applicable Pricing Period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify"><U>Advance Limitations, Regulatory</U>. Regardless of the number of Advance Shares requested by the Company
in an Advance Notice, the final number of Advance Shares to be issued and sold pursuant to such Advance Notice shall be reduced (if at
all) in accordance with each of the following limitations:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Ownership Limitation; Commitment Amount</U>. At the request of the Company, the Investor shall inform
the Company of the number of shares the Investor beneficially owns. Notwithstanding anything to the contrary contained in this Agreement,
the Investor shall not be obligated to purchase or acquire, and shall not purchase or acquire, any Ordinary Shares under this Agreement
which, when aggregated with all other Ordinary Shares beneficially owned by the Investor and its Affiliates (as calculated pursuant to
Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and
its Affiliates (on an aggregated basis) of a number of Ordinary Shares exceeding 4.99% of the then outstanding voting power or number
of Ordinary Shares (the &ldquo;<U>Ownership Limitation</U>&rdquo;). Upon the request of the Investor, the Company shall promptly (but
no later than the next Business Day on which the transfer agent for the Ordinary Shares is open for business) confirm orally or in writing
to the Investor the number of Ordinary Shares then outstanding. In connection with each Advance Notice delivered by the Company, any portion
of an Advance that would (i) cause the Investor to exceed the Ownership Limitation or (ii) cause the aggregate number of Shares issued
and sold to the Investor hereunder to exceed the Commitment Amount shall automatically be withdrawn with no further action required by
the Company, and such Advance Notice shall be deemed automatically modified to reduce the number of Advance Shares requested by an amount
equal to such withdrawn portion; provided that in the event of any such automatic withdrawal and automatic modification, the Investor
will promptly notify the Company of such event.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Registration Limitation</U>. In no event shall an Advance exceed the number of Ordinary Shares registered
in respect of the transactions contemplated hereby under the Registration Statement then in effect (the &ldquo;<U>Registration Limitation</U>&rdquo;).
In connection with each Advance Notice, any portion of an Advance that would exceed the Registration Limitation shall automatically be
withdrawn with no further action required by the Company and such Advance Notice shall be deemed automatically modified to reduce the
aggregate amount of the requested Advance by an amount equal to such withdrawn portion; provided that in the event of any such automatic
withdrawal and automatic modification, the Investor will promptly notify the Company of such event.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 112.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 112.5pt; text-align: justify; text-indent: -31.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 112.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Compliance with Rules of Principal Market</U>. Notwithstanding anything to the contrary herein, the
Company shall not effect any sales under this Agreement and the Investor shall not have the obligation to purchase Ordinary Shares under
this Agreement to the extent (but only to the extent) that after giving effect to such purchase and sale the aggregate number of Ordinary
Shares issued under this Agreement would exceed 96,891,594 (representing approximately 19.99% of the aggregate number of Webull Ordinary
Shares issued and outstanding as of the Effective Date of this Agreement (subject to adjustment for any share splits, combinations or
the like and not reflecting any Ordinary Shares issuable pursuant to warrants of the Company exercised on the date hereof or the Commitment
Shares to be issued hereunder)), calculated in accordance with the rules of the Principal Market, which number shall be reduced, on a
share-for-share basis, by the number of Ordinary Shares issued or issuable pursuant to any transaction or series of transactions that
may be aggregated with the transactions contemplated by this Agreement under the applicable rules of the Principal Market (such maximum
number of shares, the &ldquo;<U>Exchange Cap</U>&rdquo;); <I>provided that, </I>the Exchange Cap will not apply if (a) the Company&rsquo;s
shareholders have approved the issuance of Ordinary Shares pursuant to this Agreement in excess of the Exchange Cap in accordance with
the rules of the Principal Market, or (b) the Average Price of all applicable sales of Ordinary Shares hereunder (including any sales
covered by an Advance Notice that has been delivered prior to the determination of whether this clause (b) applies) equals or exceed $11.52
per share (which represents the lower of <FONT STYLE="background-color: white">(i) the Nasdaq Official Closing Price (as reflected on
Nasdaq.com) immediately preceding the signing of this Agreement; or (ii) the average Nasdaq Official Closing Price for the five Trading
Days immediately preceding the signing of this Agreement</FONT>). In connection with each Advance Notice, any portion of an Advance that
would exceed the Exchange Cap shall automatically be withdrawn with no further action required by the Company and such Advance Notice
shall be deemed automatically modified to reduce the aggregate amount of the requested Advance by an amount equal to such withdrawn portion
in respect of each Advance Notice. The Exchange Cap shall not apply if the Company takes all actions required pursuant to Nasdaq Rule
5615(a)(3) to duly and validly rely on the exemption for foreign private issuers from applicable rules and regulations of the Nasdaq by
adopting the home country practice (the &ldquo;<U>Home Country Practice</U>&rdquo;) in connection with the transactions contemplated hereunder
(including an exemption from any Nasdaq rules that would otherwise require seeking shareholder approval in respect of such transactions)
which allows the Company may issue the Ordinary Shares to the Investor in connection with this Agreement without regard to the limitations
imposed by Nasdaq Rule 5635(d).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"><U>Volume Threshold</U>. In connection with an Advance, if the total number of Ordinary Shares traded
on the Principal Market during the applicable Pricing Period is less than the Volume Threshold, then the number of Advance Shares issued
and sold pursuant to such Advance Notice shall be reduced to the greater of (a) 30% of the trading volume of the Ordinary Shares on the
Principal Market during such Pricing Period as reported by Bloomberg L.P., or (b) the number of Ordinary Shares sold by the Investor during
such Pricing Period (such reduced number of Advance Shares, the &ldquo;<U>Reduced Advance</U>&rdquo;), but in each case not to exceed
the amount requested in the Advance Notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify"><U>Unconditional Contract</U>. Notwithstanding any other provision in this Agreement, the Company and
the Investor acknowledge and agree that upon the Investor&rsquo;s receipt of a valid Advance Notice from the Company the Parties shall
be deemed to have entered into an unconditional contract binding on both Parties for the purchase and sale of the applicable number of
Advance Shares pursuant to such Advance Notice in accordance with the terms of this Agreement and (i) subject to Applicable Laws and (ii)&nbsp;subject
to <U>Section 3.09</U> and <U>Section 3.10</U>, the Investor may sell Ordinary Shares during the Pricing Period for such Advance Notice
(including with respect to any Advance Shares subject to such Pricing Period); <I>provided that</I>, if the Company notifies Investor
by e-mail that it wishes to stop all further sales prior to the end of the Pricing Period in respect of an outstanding Advance Notice,
the applicable Pricing Period shall terminate, the Investor will stop all further sales, and that Advance Notice will be deemed to be
terminated (other than in respect to such number of Ordinary Shares sold by the Investor prior to such termination).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.02&nbsp;<U>Closings</U>.
The closing of each Advance and each sale and purchase of Advance Shares (each, a &ldquo;<U>Closing</U>&rdquo;) shall take place as soon
as practicable on or after each Advance Date in accordance with the procedures set forth below. The Parties acknowledge that the Purchase
Price is not known at the time the Advance Notice is delivered (at which time the Investor is irrevocably bound to purchase the Advance
Shares covered by the applicable Advance Notice) but shall be determined on each Closing based on the daily prices of the Ordinary Shares
that are the inputs to the determination of the Purchase Price as set forth further below (provided that for the purposes of determining
the daily VWAP for any Trading Day, the Parties may use only a specified period within a Trading Day upon mutual consent). In connection
with each Closing, the Company and the Investor shall fulfill each of its obligations as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">On each Advance Date, the Investor shall deliver to the Company a written document, in the form attached
hereto as <U>Exhibit B</U> (each a &ldquo;<U>Settlement Document</U>&rdquo;), setting forth the final number of Advance Shares to be purchased
by the Investor (taking into account any adjustments pursuant to <U>Section 2.01</U>), the Market Price, the Purchase Price, the aggregate
proceeds to be paid by the Investor to the Company, and a report by Bloomberg, L.P. indicating the VWAP for each of the Trading Days during
the Pricing Period (or, if not reported on Bloomberg, L.P., another reporting service reasonably agreed to by the Parties), in each case
in accordance with the terms and conditions of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Promptly upon issuance of the Settlement Document (and in any event within one Trading Day after receipt
of such Settlement Document), and provided that the number of Ordinary Shares equal to the Advance Share Estimate have been received by
the Investor, the Investor shall pay to the Company the aggregate purchase price of the Shares (as set forth in the Settlement Document)
less the par value if that was previously paid in cash in immediately available funds to an account designated by the Company in writing
and transmit notification to the Company that such funds transfer has been requested. To the extent that the number of Ordinary Shares
equal to the Advance Share Estimate with respect to an Advance that have been received by the Investor are less than the number of Ordinary
Shares to be purchased by the Investor in respect of such Advance Notice (as set forth in the Settlement Document) promptly after receipt
of the Settlement Document with respect to such Advance (and, in any event, not later than one Trading Day after such receipt), the Company
will, or will cause its transfer agent to, electronically transfer such additional number of Advance Shares to be purchased by the Investor
(as set forth in the Settlement Document) in excess of such number of Ordinary Shares equal to the Advance Share Estimate with respect
to such Advance that have been received by the Investor, by crediting the Investor&rsquo;s account or its designee&rsquo;s account at
the Depository Trust Company through its Deposit Withdrawal at Custodian System or by such other means of delivery as may be mutually
agreed upon by the Parties hereto, and transmit notification to the Investor that such share transfer has been requested. Promptly upon
receipt of such additional number of Advance Shares, the Investor shall pay to the Company the aggregate purchase price of such additional
Advance Shares in excess of the Ordinary Shares equal to the Advance Share Estimate with respect to such Advance that have been received
by the Investor in cash in immediately available funds to an account designated by the Company in writing and transmit notification to
the Company that such funds transfer has been requested. No fractional shares shall be issued, and any fractional shares that would otherwise
be issued in connection with an Advance shall be rounded to the next higher whole number of shares. To facilitate the transfer of the
Ordinary Shares by the Investor, the Ordinary Shares issued to the Investor will not bear any restrictive legends so long as there is
an effective Registration Statement covering the resale of such Ordinary Shares (it being understood and agreed (i) by the Investor that
notwithstanding the lack of restrictive legends, the Investor may only sell such Ordinary Shares pursuant to the Plan of Distribution
set forth in the Prospectus included in the applicable Registration Statement and otherwise in compliance with the requirements of the
Securities Act (including any applicable prospectus delivery requirements) or pursuant to an available exemption), and (ii) by the Investor
that the Company and its legal counsel may rely on the Investor&rsquo;s acknowledgment included in the foregoing item (i) in this sentence
in connection with the issuance of the Ordinary Shares to the Investor and the delivery of instructions and opinions to the transfer agent
or the Investor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">On or prior to the Advance Date, each of the Company and the Investor shall deliver to the other all documents,
instruments and writings expressly required to be delivered by either of them pursuant to this Agreement in order to implement and effect
the transactions contemplated herein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Agreement, if on any day during the Pricing Period (i)
the Company notifies the Investor that a Material Outside Event has occurred, or (ii) the Company notifies the Investor of a Black Out
Period, the Parties agree that the pending Advance shall end and the final number of Advance Shares to be purchased by the Investor at
the Closing for such Advance shall be equal to the number of Ordinary Shares sold by the Investor during the applicable Pricing Period
prior to the notification from the Company of a Material Outside Event or Black Out Period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify">The Investor will promptly instruct the transfer agent and its broker to return to the Company any Shares
issued pursuant to the Advance Share Estimate that exceeds the number of Shares constituting the applicable Advance Shares the Investor
purchases in connection with an Advance Notice (such amount, the &ldquo;<U>Excess Shares</U>&rdquo;). Alternatively, if the Transfer Agent
does not return the Excess Shares to the Company in accordance with the Investor&rsquo;s instructions, or if otherwise instructed in writing
by the Company, Investor may retain such Excess Shares (provided Investor will not be deemed to have purchased such Excess Shares, nor
deemed to be the beneficially owner of such Excess Shares), and such Excess Shares will be deemed pre-delivered Shares that will reduce
the number of Shares required to be delivered by the Company in accordance with this section on the next Advance Notice Date in connection
with the next Advance Notice; <I>provided</I>, <I>however</I>, that the Company shall have the right, upon delivery of written notice
to the Investor at any time, to request that the Investor return all or a portion of such Excess Shares to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.03&nbsp;<U>Hardship</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">In the event the Company fails to perform its obligations as mandated in this Agreement after the Investor&rsquo;s
receipt of an Advance Notice, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Article
V hereto and in addition to any other remedy to which the Investor is entitled at law or in equity, including, without limitation, specific
performance, it will hold the Investor harmless against any loss, claim, damage, or expense (including reasonable legal fees and expenses),
as incurred, arising out of or in connection with such default by the Company and acknowledges that irreparable damage may occur in the
event of any such default. It is accordingly agreed that the Investor shall be entitled to an injunction or injunctions to prevent such
breaches of this Agreement and to specifically enforce (subject to Applicable Laws and the rules of the Principal Market), without the
posting of a bond or other security, the terms and provisions of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">In the event the Company provides an Advance Notice and the Investor fails to perform its obligations
as mandated in <U>Section 2.02</U>, the Investor agrees that in addition to and in no way limiting the rights and obligations set forth
in Article V hereto and in addition to any other remedy to which the Company is entitled at law or in equity, including, without limitation,
specific performance, it will hold the Company harmless against any loss, claim, damage, or expense (including reasonable legal fees and
expenses), as incurred, arising out of or in connection with such default by the Investor and acknowledges that irreparable damage may
occur in the event of any such default. It is accordingly agreed that the Company shall be entitled to an injunction or injunctions to
prevent such breaches of this Agreement and to specifically enforce (subject to the Securities Act and other rules of the Principal Market),
without the posting of a bond or other security, the terms and provisions of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.04&nbsp;<U>Completion
of Resale Pursuant to the Registration Statement</U>. After the Investor has purchased the full Commitment Amount and has completed the
subsequent resale of the full Commitment Amount pursuant to the Registration Statement, Investor will notify the Company in writing (which
may be by e-mail) that all subsequent resales are completed and the Company will be under no further obligation to maintain the effectiveness
of the Registration Statement. Additionally, provided the Investor does not hold any Advance Shares, the Company shall have no further
obligation to maintain the effectiveness of any Registration Statement after the 90th day following the earlier to occur of the latest
Closing that has occurred and the termination of this Agreement in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article III. Representations
and Warranties of the Investor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Investor represents and
warrants to the Company, as of the date hereof, as of each Advance Notice Date and as of each Advance Date that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.01&nbsp;<U>Organization
and Authorization</U>. The Investor is duly organized, validly existing and in good standing under the laws of the Cayman Islands and
has the requisite corporate power and authority to enter into and perform its obligations under the Transaction Documents to which it
is a party and to purchase or acquire the Shares in accordance with the terms hereof. The decision to invest and the execution and delivery
of the Transaction Documents to which it is a party by the Investor, the performance by the Investor of its obligations hereunder and
the consummation by the Investor of the transactions contemplated hereby have been duly authorized and require no further consent or authorization
or other proceedings on the part of the Investor. The undersigned has the right, power and authority to execute and deliver the Transaction
Documents to which it is a party and all other instruments on behalf of the Investor or its shareholders. This Agreement and the Transaction
Documents to which it is a party have been duly executed and delivered by the Investor and, assuming the execution and delivery hereof
and acceptance thereof by the Company, will constitute the legal, valid and binding obligations of the Investor, enforceable against the
Investor in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.02&nbsp;<U>Evaluation
of Risks</U>. The Investor has such knowledge and experience in financial, tax and business matters as to be capable of evaluating the
merits and risks of, and bearing the economic risks entailed by, an investment in the Shares of the Company and of protecting its interests
in connection with the transactions contemplated hereby. The Investor acknowledges and agrees that its investment in the Company involves
a high degree of risk, and that the Investor may lose all or a part of its investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.03&nbsp;<U>No Legal,
Investment or Tax Advice from the Company</U>. The Investor acknowledges that it had the opportunity to review the Transaction Documents
and the transactions contemplated by the Transaction Documents with its own legal counsel and investment and tax advisors. The Investor
is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of the Company&rsquo;s
representatives or agents for legal, tax, investment or other advice with respect to the Investor&rsquo;s acquisition of Shares hereunder,
the transactions contemplated by this Agreement or the laws of any jurisdiction, and the Investor acknowledges that the Investor may lose
all or a part of its investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.04&nbsp;<U>Investment
Purpose</U>. The Investor is acquiring the Shares for its own account, for investment purposes and not with a view towards, or for resale
in connection with, the public sale or distribution thereof in violation of the Securities Act or any applicable state securities laws;&nbsp;provided,&nbsp;however,
that by making the representations herein, the Investor does not agree, or make any representation or warranty, to hold any of the Shares
for any minimum or other specific term and reserves the right to dispose of the Shares at any time in accordance with, or pursuant to,
a Registration Statement filed pursuant to this Agreement or an applicable exemption under the Securities Act. The Investor does not presently
have any agreement or understanding, directly or indirectly, with any Person to sell or distribute any of the Shares. The Investor is
acquiring the Shares hereunder in the ordinary course of its business. <FONT STYLE="background-color: white">The Investor acknowledges
that it will be disclosed as an &ldquo;underwriter&rdquo; and a &ldquo;selling shareholder&rdquo; in each Registration Statement and in
any prospectus contained therein to the extent required by applicable law and to the extent the prospectus is related to the resale of
Registrable Securities</FONT>. In addition, the Investor is acquiring the Commitment Shares for its own account and not with a view towards
the public sale or distribution thereof. The Investor understands that the Commitment Shares have not been registered under the Securities
Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.05&nbsp;<U>Accredited
Investor</U>. The Investor is an &ldquo;<U>Accredited Investor</U>&rdquo; as that term is defined in Rule 501(a)(3) of Regulation D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.06&nbsp;<U>Reliance
on Exemptions</U>. The Investor understands that the Shares are being offered and sold to it in reliance on specific exemptions from the
registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and
accuracy of, and the Investor&rsquo;s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Investor set forth herein in order to determine the availability of such exemptions and the eligibility of the Investor to acquire
the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.07&nbsp;<U>Information</U>.
The Investor and its advisors (and its counsel), if any, have been furnished with all materials relating to the business, finances and
operations of the Company and information the Investor deemed material to making an informed investment decision. The Investor and its
advisors (and its counsel), if any, have been afforded the opportunity to ask questions of the Company and its management and have received
answers to such questions. Neither such inquiries nor any other due diligence investigations conducted by such Investor or its advisors
(and its counsel), if any, or its representatives shall modify, amend or affect the Investor&rsquo;s right to rely on the Company&rsquo;s
representations and warranties contained in this Agreement. The Investor acknowledges and agrees that the Company has not made to the
Investor, and the Investor acknowledges and agrees it has not relied upon, any representations and warranties of the Company, its employees
or any third party other than the representations and warranties of the Company contained in this Agreement. The Investor understands
that its investment involves a high degree of risk. The Investor has sought such accounting, legal and tax advice, as it has considered
necessary to make an informed investment decision with respect to the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.08&nbsp;<U>Not an Affiliate</U>.
The Investor is not an officer, director or a person that directly, or indirectly through one or more intermediaries, controls or is controlled
by, or is under common control with the Company or any &ldquo;<U>Affiliate</U>&rdquo; of the Company (as that term is defined in Rule
405 promulgated under the Securities Act). During the Commitment Period, the Investor will not acquire for its own account any Ordinary
Shares or securities exercisable for or convertible into Ordinary Shares, other than pursuant to this Agreement or pursuant to any transaction
entered into directly with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.09&nbsp;<U>Trading Activities</U>.
The Investor&rsquo;s trading activities with respect to the Shares shall be in compliance with all applicable federal and state securities
laws, rules and regulations and the rules and regulations of the Principal Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.10&nbsp;<U>No Prior
Short Sales</U>. At no time prior to the date of this Agreement has the Investor, its sole member, any of their respective officers, or
any entity managed or controlled by the Investor or its sole member, engaged in or effected, in any manner whatsoever, directly or indirectly,
for its own principal account, any (i) &ldquo;short sale&rdquo; (as such term is defined in Rule 200 of Regulation SHO of the Exchange
Act) of the Ordinary Shares or (ii) hedging transaction, in either case which establishes a net short position with respect to the Ordinary
Shares that remains in effect as of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.11&nbsp;<U>General Solicitation</U>.
Neither the Investor, nor any of its affiliates, nor any person acting on its or their behalf, has engaged or will engage in any form
of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Shares
by the Investor. The Investor is not purchasing or acquiring the Shares as a result of any form of general solicitation or general advertising
(within the meaning of Regulation D) in connection with any offer or sale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.12&nbsp;<U>Free Writing
Prospectus</U>. The Investor shall not take any action that would result in the Investor or the Company being required to file with the
SEC pursuant to Rule 433(d) under the Securities Act a free writing prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.13&nbsp;<U>No Conflict</U>.
The execution, delivery and performance by the Investor of this Agreement and the consummation by the Investor of the transactions contemplated
hereby do not and shall not (i) result in a violation of such Investor&rsquo;s applicable organizational instruments, (ii) conflict with,
constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights
of termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond, license,
lease agreement, instrument or obligation to which the Investor is a party or is bound, or (iii) result in a violation of any federal,
state, local or foreign statute, rule, or regulation, or any order, judgment or decree of any court or governmental agency applicable
to the Investor or by which any of its properties or assets are bound or affected, except, in the case of clauses (ii) and (iii), for
such conflicts, defaults, terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate,
prohibit or otherwise interfere with, in any material respect, the ability of the Investor to enter into and perform its obligations under
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.14&nbsp;<U>No Governmental
Review</U>. The Investor understands that no United States federal or state agency or any other government or governmental agency has
passed on or made any recommendation or endorsement of the Shares or the fairness or suitability of the investment in the Shares nor have
such authorities passes upon or endorsed the merits of the offering of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.15&nbsp;<U>Resale of
Shares</U>. The Investor represents, warrants and covenants that it will resell the Shares only pursuant to a Registration Statement in
which the resale of such Shares is registered under the Securities Act, in a manner described under the caption &ldquo;Plan of Distribution&rdquo;
in such Registration Statement, and in a manner in compliance with all applicable U.S. federal and state securities laws, rules and regulations,
including, without limitation, any applicable prospectus delivery requirements of the Securities Act, unless an exemption from registration
under the Securities Act, in the opinion of counsel, is available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.16&nbsp;<U>Availability
of Funds</U>. The Investor has sufficient cash available to enable it to pay the full Commitment Amount pursuant to the terms of the Agreement
and to make all other necessary payments by it in connection with the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article IV. Representations
and Warranties of the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as set forth in the
SEC Documents, the Company represents and warrants to the Investor that, as of the date hereof, each Advance Notice Date and each Advance
Date (other than representations and warranties which address matters only as of a certain date, which shall be true and correct as written
as of such certain date):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.01&nbsp;<U>Organization
and Qualification</U>. The Company and each of its Subsidiaries are entities duly organized and validly existing and in good standing
under the laws of their respective jurisdiction of organization, and have the requisite power and authority to own their properties and
to carry on their business as now being conducted. Each of the Company and its Subsidiaries is duly qualified to do business and is in
good standing (to the extent applicable) in every jurisdiction in which the nature of the business conducted by it makes such qualification
necessary, except to the extent that the failure to be so qualified or be in good standing has not had and would not be reasonably expected
to have, individually or in the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.02&nbsp;<U>Authorization,
Enforcement, Compliance with Other Instruments.</U> The Company has the requisite corporate power and authority to enter into and perform
its obligations under this Agreement and the other Transaction Documents to which it is a party and to issue the Shares in accordance
with the terms hereof and thereof. Other than any shareholder approval required for any issuance of the Ordinary Shares exceeding the
Exchange Cap hereunder and to the extent the Company is not eligible to rely on the Home Country Practice, the execution and delivery
by the Company of this Agreement and the other Transaction Documents to which it is a party, and the consummation by the Company of the
transactions contemplated hereby and thereby (including, without limitation, the issuance of the Shares) have been or (with respect to
consummation) will be duly authorized by the Company&rsquo;s board of directors and no further consent or authorization will be required
by the Company, its board of directors or its shareholders. This Agreement and the other Transaction Documents to which the Company is
a party have been (or, when executed and delivered, will be) duly executed and delivered by the Company and, assuming the execution and
delivery thereof and acceptance by the Investor, constitute (or, when duly executed and delivered, will be) the legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with their respective terms, except as such enforceability may
be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or other laws
relating to, or affecting generally, the enforcement of applicable creditors&rsquo; rights and remedies and except as rights to indemnification
and to contribution may be limited by federal or state securities law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.03&nbsp;<U>Authorization
of the Shares</U>. The Shares to be issued under this Agreement have been, or with respect to Shares to be purchased by the Investor pursuant
to an Advance Notice, will be, when issued and delivered pursuant to the terms approved by the board of directors of the Company or a
duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, duly and validly
authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim,
including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be
registered pursuant to Section 12 of the Exchange Act. The Shares, when issued, will conform to the description thereof set forth in or
incorporated into the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.04&nbsp;<U>No Conflict</U>.
The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company of the transactions
contemplated hereby and thereby (including, without limitation, the issuance of the Ordinary Shares) will not (i) result in a violation
of the articles of incorporation or other organizational documents of the Company (with respect to consummation, as the same may be amended
prior to the date on which any of the transactions contemplated hereby are consummated), (ii) conflict with, or constitute a default (or
an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Company is a party, or (iii) result in a violation
of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable to the
Company or by which any property or asset of the Company is bound or affected except, in the case of clause (ii) or (iii) above, to the
extent such violations have not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.05&nbsp;<U>SEC Documents;
Financial Statements</U>. Since the Company has been subject to the requirements of Section 12 of the Exchange Act, the Company has filed
all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant to the Exchange Act, including,
without limitation, the Current Report, each Registration Statement, as the same may be amended from time to time, the Prospectus contained
therein and each Prospectus Supplement thereto, and all information contained in such filings and all documents and disclosures that have
been or may in the future be incorporated by reference therein (all such documents hereinafter referred to as the &ldquo;<U>SEC Documents</U>&rdquo;)
and all such filings required to be filed within the last 12 months (or since the Company has been subject to the requirements of Section
12 of the Exchange Act, if shorter) have been made on a timely basis (giving effect to permissible extensions in accordance with Rule
12b-25 under the Exchange Act). The Company has delivered or made available to the Investor through the SEC&rsquo;s website at http://www.sec.gov,
true and complete copies of the SEC Documents, as applicable. Except as disclosed in amendments or subsequent filings to the SEC Documents,
as of its filing date (or, if amended or superseded by a filing prior to the date hereof, on the date of such amended or superseded filing),
each of the SEC Documents complied in all material respects with the requirements of the Exchange Act or the Securities Act, as applicable,
and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and did not contain any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.06&nbsp;<U>Financial
Statements</U>. The consolidated financial statements of the Company included or incorporated by reference in the SEC Documents, together
with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and
the Subsidiaries as of the dates indicated and the consolidated results of operations, cash flows and changes in shareholders&rsquo; equity
of the Company for the periods specified and have been prepared in compliance in all material respects with the requirements of the Securities
Act and Exchange Act and in conformity in all material respects with generally accepted accounting principles in the United States (&ldquo;<U>GAAP</U>&rdquo;),
in each case as in effect at the time of filing, applied on a consistent basis (except for (i) such adjustments to accounting standards
and practices as are noted therein, (ii) in the case of unaudited interim financial statements, to the extent such financial statements
may not include footnotes required by GAAP or may be condensed or summary statements, (iii) such adjustments which are not material, either
individually or in the aggregate, (iv) as may be otherwise specified in such financial statements or notes thereto, and (v) ordinary course,
year-end audit adjustments) during the periods involved; the other financial and statistical data with respect to the Company and the
Subsidiaries contained or incorporated by reference in the SEC Documents are accurately and fairly presented in all material respects
and prepared on a basis consistent with the financial statements and books and records of the Company; there are no financial statements
(historical or pro forma) that are required to be included or incorporated by reference in the SEC Documents that are not included or
incorporated by reference as required; the Company does not have any material liabilities or obligations, direct or contingent (including
any off-balance sheet obligations), not described in the SEC Documents; and all disclosures contained or incorporated by reference in
the SEC Documents regarding &ldquo;non-GAAP financial measures&rdquo; (as such term is defined by the rules and regulations of the SEC)
comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent
applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the SEC Documents
has been prepared in all material respects in accordance with the SEC&rsquo;s rules and guidelines applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.07&nbsp;<U>Registration
Statement and Prospectus</U>. Each Registration Statement and the offer and sale of Shares as contemplated hereby, if and when filed,
will meet the requirements of Rule&nbsp;415 under the Securities Act and comply in all material respects with said Rule. Any statutes,
regulations, contracts or other documents that are required to be described in a Registration Statement or a Prospectus, or any amendment
or supplement thereto, or to be filed as exhibits to a Registration Statement have been so described or filed. Copies of each Registration
Statement, any Prospectus, and any such amendments or supplements thereto and all documents incorporated by reference therein that were
filed with the SEC on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to the Investor and
its counsel. The Company has not distributed and, prior to the later to occur of each Advance Date and completion of the distribution
of the Shares, will not distribute any offering material in connection with the offering or sale of the Shares other than a Registration
Statement, the Prospectus contained therein, and any required prospectus supplement, in each case as reviewed and consented to by the
Investor, which consent shall not be unreasonably withheld, delayed or conditioned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.08&nbsp;<U>No Misstatement
or Omission</U>. Each Registration Statement, when it became or becomes effective, and any Prospectus, on the date of such Prospectus
or any amendment or supplement thereto, conformed and will conform in all material respects with the requirements of the Securities Act.
At each Advance Notice Date and applicable Advance Date, the Registration Statement, and the Prospectus, each as of such date, will conform
in all material respects with the requirements of the Securities Act. Each Registration Statement, when it became or becomes effective,
did not, and will not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading. Each Prospectus did not, or will not, include an untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading. The documents incorporated by reference in a Prospectus or any Prospectus Supplement did not, and any further documents
filed and incorporated by reference therein will not, when filed with the SEC, contain an untrue statement of a material fact or omit
to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the
circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such
document made in reliance upon, and in conformity with, information furnished to the Company by the Investor specifically for use in the
preparation thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.09&nbsp;<U>Conformity
with Securities Act and Exchange Act</U>. Each Registration Statement, each Prospectus, or any amendment or supplement thereto, and the
documents incorporated by reference in each Registration Statement, Prospectus or any amendment or supplement thereto, when such documents
were or are filed with the SEC under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as
the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act,
as applicable.<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.10&nbsp;<U>Equity Capitalization</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">As of the date hereof, the authorized share capital of the Company is US$50,000, of which 4,000,000,000
shares are designated as Class A ordinary shares, $0.00001 per share, of the Company, and 1,000,000,000 are designated as Class B ordinary
shares, par value $0.00001 per share, of the Company. As of the date hereof, the Company had 401,712,305 Ordinary Shares issued and outstanding
(not reflecting any Ordinary Shares issuable pursuant to warrants of the Company exercised on the date hereof) and 82,988,016 Webull Class
B Ordinary Shares issued and outstanding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">The Ordinary Shares are registered pursuant to Section 12(b) of the Exchange Act and are currently listed
on a Principal Market under the trading symbol &ldquo;BULL.&rdquo; The Company has taken no action designed to, or likely to have the
effect of, terminating the registration of the Ordinary Shares under the Exchange Act, delisting the Ordinary Shares from the Principal
Market, nor has the Company received any notification that the SEC or the Principal Market is contemplating terminating such registration
or listing. To the Company&rsquo;s knowledge, it is in compliance with all applicable listing requirements of the Principal Market.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><U>Existing Securities&#894; Obligations</U>. Except as disclosed in the SEC Documents: (A) none of the
Company&rsquo;s shares, interests or share capital is subject to preemptive rights or any other similar rights or liens suffered or permitted
by the Company &#894; (B) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares, interests or share capital
of the Company, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue additional
shares, interests or share capital of the Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares, interests or share capital
of the Company &#894; (C) there are no agreements or arrangements under which the Company is obligated to register the sale of any of
their securities under the Securities Act (except pursuant to this Agreement)&#894; (D) there are no outstanding securities or instruments
of the Company which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements
by which the Company is or may become bound to redeem a security of the Company &#894; (E) there are no securities or instruments containing
anti-dilution or similar provisions that will be triggered by the issuance of the Shares&#894; and (F) the Company has not entered into
any Variable Rate Transaction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.11&nbsp;<U>Intellectual
Property Rights</U>. The Company and its Subsidiaries own or possess adequate rights or licenses to use all material trademarks, trade
names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals,
governmental authorizations, trade secrets and rights, if any, necessary to conduct their respective businesses as now conducted, except
as has not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The Company
and its Subsidiaries have not received written notice of any infringement by the Company or its Subsidiaries of trademark, trade name
rights, patents, patent rights, copyrights, inventions, licenses, service names, service marks, service mark registrations, or trade secrets,
except as has not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. To the
knowledge of the Company, there is no claim, action or proceeding being made or brought against, or to the Company&rsquo;s knowledge,
being threatened against the Company or its Subsidiaries regarding trademark, trade name, patents, patent rights, invention, copyright,
license, service names, service marks, service mark registrations, trade secret or other infringement; and, except as has not had and
would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect, the Company is not aware of any
facts or circumstances which might give rise to any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.12&nbsp;<U>Employee
Relations</U>. Neither the Company nor any of its Subsidiaries is involved in any labor dispute nor, to the knowledge of the Company or
any of its Subsidiaries, has any such dispute threatened, in each case as is reasonably likely to cause a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.13&nbsp;<U>Environmental
Laws</U>. The Company and its Subsidiaries (i) have not received written notice alleging any failure to comply in all material respects
with all Environmental Laws (as defined below), (ii) have received all material permits, licenses or other approvals required of them
under applicable Environmental Laws to conduct their respective businesses and (iii) have not received written notice alleging any failure
to comply with all terms and conditions of any such permit, license or approval, except, in each of the foregoing clauses (i), (ii) and
(iii), as has not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The term
&ldquo;<U>Environmental Laws</U>&rdquo; means all applicable federal, state and local laws relating to pollution or protection of human
health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata),
including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants,
or toxic or hazardous substances or wastes (collectively, &ldquo;<U>Hazardous Materials</U>&rdquo;) into the environment, or otherwise
relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials,
as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters,
orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.14&nbsp;<U>Title</U>.
Except as has not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect, the Company
(or its Subsidiaries) has indefeasible fee simple or leasehold title to its properties and material assets owned by it, free and clear
of any pledge, lien, security interest, encumbrance, claim or equitable interest other than such as are not material to the business of
the Company. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting
and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such
property and buildings by the Company and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.15&nbsp;<U>Insurance</U>.
The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company and its Subsidiaries
are engaged. The Company has no reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not be reasonably
expected to have, individually or in the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.16&nbsp;<U>Regulatory
Permits</U>. Except as has not had and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse
Effect, the Company and its Subsidiaries possess all material certificates, authorizations and permits issued by the appropriate federal,
state or foreign regulatory authorities necessary to own their respective businesses, and neither the Company nor any such Subsidiary
has received any written notice of proceedings relating to the revocation or modification of any such certificate, authorization or permits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.17&nbsp;<U>Internal
Accounting Controls</U>. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that
(i)&nbsp;transactions are executed in accordance with management&rsquo;s general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain
asset accountability, (iii) access to assets is permitted only in accordance with management&rsquo;s general or specific authorization
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is
taken with respect to any differences, and management is not aware of any material weaknesses that are not disclosed in the SEC Documents
as and when required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.18&nbsp;<U>Absence of
Litigation</U>. There is no action, suit, proceeding, or to the Company&rsquo;s knowledge any inquiry or investigation before or by any
court, public board, government agency, self-regulatory organization or body pending against or affecting the Company, the Ordinary Shares
or any of the Company&rsquo;s Subsidiaries, wherein an unfavorable decision, ruling or finding would have or be reasonably expected to
have, individually or in the aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.19&nbsp;<U>Tax Status</U>.
Each of the Company and its Subsidiaries (i) has timely made or filed all foreign, federal and state income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject or has properly requested extensions thereof, (ii) has timely
paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations, if due and payable, except those being contested in good faith and (iii) has set aside on its books provision
reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations
apply. The Company has not received written notification of any material unpaid taxes in any material amount claimed to be due by the
taxing authority of any jurisdiction, and to the knowledge of the officers of the Company and its Subsidiaries there in no basis for any
such claim where the failure to pay would have or would be reasonably expected to have, individually or in the aggregate, a Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.20&nbsp;<U>Certain Transactions</U>.
Except as not required to be disclosed pursuant to Applicable Laws, none of the officers or directors of the Company is presently a party
to any transaction with the Company (other than for services as employees, officers and directors), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from,
or otherwise requiring payments to or from any officer or director, or to the knowledge of the Company, any corporation, partnership,
trust or other entity in which any officer or director has a substantial interest or is an officer, director, trustee or partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.21&nbsp;<U>Rights of
First Refusal</U>. The Company is not obligated to offer the Ordinary Shares offered hereunder on a right of first refusal basis or otherwise
to any third parties including, but not limited to, current or former shareholders of the Company, underwriters, brokers, agents or other
third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.22&nbsp;<U>Dilution</U>.
The Company is aware and acknowledges that issuance of Ordinary Shares hereunder could cause dilution to existing shareholders and could
significantly increase the outstanding number of Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.23&nbsp;<U>Acknowledgment
Regarding Investor&rsquo;s Purchase of Shares</U>. The Company acknowledges and agrees that the Investor is acting solely in the capacity
of an arm&rsquo;s length investor with respect to this Agreement and the transactions contemplated hereunder. The Company further acknowledges
that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement
and the transactions contemplated hereunder and any advice given by the Investor or any of its representatives or agents in connection
with this Agreement and the transactions contemplated hereunder is merely incidental to the Investor&rsquo;s purchase of the Shares hereunder.
The Company is aware and acknowledges that it shall not be able to request Advances under this Agreement if a Registration Statement is
not effective or if any issuances of Ordinary Shares pursuant to any Advances would violate any rules of the Principal Market. The Company
acknowledges and agrees that it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions
of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.24&nbsp;<U>Finder&rsquo;s
Fees</U>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions
or similar payments in connection with the transactions herein contemplated.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.25&nbsp;<U>Relationship
of the Parties</U>. Neither the Company, nor any of its Subsidiaries, affiliates, nor any person acting on its or their behalf is a client
or customer of the Investor or any of its affiliates and neither the Investor nor any of its affiliates has provided, or will provide,
any services to the Company or any of its affiliates, its subsidiaries, or any person acting on its or their behalf. The Investor&rsquo;s
relationship to Company is solely as investor as provided for in the Transaction Documents.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.26&nbsp;<U>Operations</U>.
The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with Applicable Law and<FONT STYLE="font-size: 10pt">&nbsp;</FONT>neither
the Company nor the Subsidiaries, nor any director, officer, or employee of the Company or any Subsidiary nor, to the Company&rsquo;s
knowledge, any agent, affiliate or other person acting on behalf of the Company or any Subsidiary has, not complied with Applicable Law;
and no action, suit or proceeding by or before any governmental authority involving the Company or any of its Subsidiaries with respect
to Applicable Laws is pending or, to the knowledge of the Company, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.27&nbsp;<U>Forward-Looking
Statements</U>. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, no forward-looking
statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Registration
Statement or a Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.28&nbsp;<U>Compliance
with Laws</U>. The Company and each of its Subsidiaries are in compliance with Applicable Law; the Company has not received a notice of
non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that any director, officer, or employee of the Company
or any Subsidiary, in his or her capacity as such, nor, to the Company&rsquo;s knowledge, any agent, Affiliate or other person acting
on behalf of the Company or any Subsidiary has, has not complied with Applicable Laws, in his, her or its capacity as such, or could give
rise to a notice of non-compliance with Applicable Laws, and is not aware of any pending change or contemplated change to any applicable
law or regulation or governmental position; in each case that would have or would be reasonably expected to have, individually or in the
aggregate, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.29&nbsp;<U>Sanctions
Matters</U>. Neither the Company nor any of its Subsidiaries or, to the knowledge of the Company, any director, officer or controlled
Affiliate of the Company or any director or officer of any Subsidiary, is a Person that is, or is owned or controlled by a Person that
is (i)&nbsp;the subject of any sanctions administered or enforced by the U.S. Department of Treasury&rsquo;s Office of Foreign Asset Control
(&ldquo;<U>OFAC</U>&rdquo;), the United Nations Security Council, the European Union, His Majesty&rsquo;s Treasury, or other relevant
sanctions authorities, including, without limitation, designation on OFAC&rsquo;s Specially Designated Nationals and Blocked Persons List
or OFAC&rsquo;s Foreign Sanctions Evaders List or other relevant sanctions authority (collectively, &ldquo;<U>Sanctions</U>&rdquo;), or
(ii)&nbsp;located, organized or resident in a country or territory that is the subject of Sanctions that broadly prohibit dealings with
that country or territory (including, without limitation, the Crimea, Zaporizhzhia and Kherson regions of Ukraine, the Donetsk People&rsquo;s
Republic and Luhansk People&rsquo;s Republic in Ukraine, Cuba, Iran, North Korea, Russia, Sudan and Syria (the &ldquo;<U>Sanctioned Countries</U>&rdquo;)).
Neither the Company nor any of its Subsidiaries will, directly or indirectly, use the proceeds from the sale of Advance Shares, or lend,
contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (a)&nbsp;for the purpose
of funding or facilitating any activities or business of or with any Person or in any country or territory that, at the time of such funding
or facilitation, is the subject of Sanctions or is a Sanctioned Country, or (b)&nbsp;in any other manner that will result in a violation
of Sanctions or Applicable Laws by any Person (including any Person participating in the transactions contemplated by this Agreement,
whether as underwriter, advisor, investor or otherwise). For the past five years, neither the Company nor any of its Subsidiaries has
engaged in, and is now not engaged in, any dealings or transactions with any Person, or in any country or territory, that at the time
of the dealing or transaction is or was the subject of Sanctions or was a Sanctioned Country. Neither the Company nor any of its Subsidiaries
nor any director, officer or controlled Affiliate of the Company or any of its Subsidiaries, has ever had funds blocked by a United States
bank or financial institution, temporarily or otherwise, as a result of OFAC concerns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.30&nbsp;<U>Foreign Private
Issuer</U>. The Company is a &ldquo;foreign private issuer,&rdquo; within the meaning of Rule 3b-4 under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.31&nbsp;<U>General Solicitation</U>.
Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has engaged or will engage in any form of
general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Ordinary
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article V. Indemnification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Investor and the Company
hereby agree to the following with respect to themselves:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.01&nbsp;<U>Indemnification
by the Company</U>. In consideration of the Investor&rsquo;s execution and delivery of this Agreement and acquiring the Shares hereunder,
and in addition to all of the Company&rsquo;s other obligations under this Agreement, the Company shall defend, protect, indemnify and
hold harmless the Investor, its investment manager, Yorkville Advisors Global, LP, and their respective Affiliates, and each of the foregoing&rsquo;s
respective officers, directors, managers, members, partners, employees and agents (including, without limitation, those retained in connection
with the transactions contemplated by this Agreement) and each person who controls the Investor within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act (collectively, the &ldquo;<U>Investor Indemnitees</U>&rdquo;) from and against any and
all third-party actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and reasonable and
documented expenses in connection therewith (irrespective of whether any such Investor Indemnitee is a party to the action for which indemnification
hereunder is sought), and including reasonable and documented out of pocket attorneys&rsquo; fees and disbursements (the &ldquo;<U>Indemnified
Liabilities</U>&rdquo;), incurred by the Investor Indemnitees or any of them as a result of, or arising out of, or relating to (a) any
untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares
as originally filed or in any amendment thereof, or in any related prospectus, or in any amendment thereof or supplement thereto, or arise
out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; <U>provided</U>, <U>however</U>, that the Company will not be liable in any such case to
the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement
or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company by or
on behalf of the Investor specifically for inclusion therein; (b) any material misrepresentation or breach of any material representation
or material warranty made by the Company in this Agreement or any other certificate, instrument or document contemplated hereby or thereby;
or (c) any material breach of any material covenant, material agreement or material obligation of the Company contained in this Agreement
or any other certificate, instrument or document contemplated hereby or thereby. To the extent that the foregoing undertaking by the Company
may be unenforceable under Applicable Law, the Company shall make the maximum contribution to the payment and satisfaction of each of
the Indemnified Liabilities, which is permissible under Applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.02&nbsp;<U>Indemnification
by the Investor</U>. In consideration of the Company&rsquo;s execution and delivery of this Agreement, and in addition to all of the Investor&rsquo;s
other obligations under this Agreement, the Investor shall defend, protect, indemnify and hold harmless the Company, its Subsidiaries
and all of its and their officers, directors, shareholders, employees and agents (including, without limitation, those retained in connection
with the transactions contemplated by this Agreement) and each person who controls the Company within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act (collectively, the &ldquo;<U>Company Indemnitees</U>&rdquo;) from and against any and
all Indemnified Liabilities incurred by the Company Indemnitees or any of them as a result of, or arising out of, or relating to (a) any
untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares
as originally filed or in any amendment thereof, or in any related prospectus, or in any amendment thereof or supplement thereto, or arise
out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; <U>provided</U>, <U>however</U>, that the Investor will only be liable for written information
relating to the Investor furnished to the Company by or on behalf of the Investor specifically for inclusion in the documents referred
to in the foregoing indemnity, and will not be liable in any such case to the extent that any such loss, claim, damage or liability arises
out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance
upon and in conformity with written information furnished to the Investor by or on behalf of the Company specifically for inclusion therein;
(b) any misrepresentation or breach of any representation or warranty made by the Investor in this Agreement or any instrument or document
contemplated hereby or thereby executed by the Investor; or (c) any breach of any covenant, agreement or obligation of the Investor contained
in this Agreement or any other certificate, instrument or document contemplated hereby or thereby executed by the Investor. To the extent
that the foregoing undertaking by the Investor may be unenforceable under Applicable Laws, the Investor shall make the maximum contribution
to the payment and satisfaction of each of the Indemnified Liabilities, which is permissible under Applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.03&nbsp;<U>Notice of
Claim</U>. Promptly after receipt by an Investor Indemnitee or Company Indemnitee of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving an Indemnified Liability, such Investor Indemnitee or Company Indemnitee,
as applicable, shall, if a claim for an Indemnified Liability in respect thereof is to be made against any indemnifying party under this
Article V, deliver to the indemnifying party a written notice of the commencement thereof; but the failure to so notify the indemnifying
party will not relieve it of liability under this Article V except to the extent the indemnifying party is prejudiced by such failure.
The indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any
other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually reasonably satisfactory to
the indemnifying party and the Investor Indemnitee or Company Indemnitee, as the case may be; provided, however, that an Investor Indemnitee
or Company Indemnitee shall have the right to retain its own counsel with the actual and reasonable third party fees and expenses of not
more than one counsel for such Investor Indemnitee or Company Indemnitee to be paid by the indemnifying party, if, in the reasonable opinion
of counsel retained by the indemnifying party, the representation by such counsel of the Investor Indemnitee or Company Indemnitee and
the indemnifying party would be inappropriate due to actual or potential differing interests between such Investor Indemnitee or Company
Indemnitee and any other party represented by such counsel in such proceeding. The Investor Indemnitee or Company Indemnitee shall cooperate
fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party
and shall furnish to the indemnifying party all information reasonably available to the Investor Indemnitee or Company Indemnitee which
relates to such action or claim. The indemnifying party shall keep the Investor Indemnitee or Company Indemnitee reasonably apprised as
to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement
of any action, claim or proceeding effected without its prior written consent, provided, however, that the indemnifying party shall not
unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent of the Investor
Indemnitee or Company Indemnitee, consent to entry of any judgment or enter into any settlement or other compromise which does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Investor Indemnitee or Company Indemnitee of a release
from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party
shall be subrogated to all rights of the Investor Indemnitee or Company Indemnitee with respect to all third parties, firms or corporations
relating to the matter for which indemnification has been made. The indemnification required by this Article V shall be made by periodic
payments of the amount thereof during the course of the investigation or defense, as and when bills are received and payment therefor
is due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.04&nbsp;<U>Remedies</U>.
The remedies provided for in this Article V are not exclusive and shall not limit any right or remedy which may be available to any indemnified
person at law or equity. The obligations of the Parties to indemnify or make contribution under this Article V shall survive until the
expiration or termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.05&nbsp;<U>Limitation
of liability</U>. Notwithstanding the foregoing, no Party shall seek, nor shall any be entitled to recover from the other Party, punitive,
indirect, incidental, consequential or exemplary damages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article VI.
Covenants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">The Company covenants with the
Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party,
during the Commitment Period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.01&nbsp;<U>Registration
Statement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><U>Filing of a Registration Statement</U>. The Company shall use commercially reasonable efforts to prepare
and file with the SEC a Registration Statement, or multiple Registration Statements for the resale by the Investor of the Registrable
Securities. The Company in its sole discretion may choose when to file such Registration Statements; <I>provided, however</I>, that the
Company shall not have the ability to request any Advances until the effectiveness of a Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><U>Maintaining a Registration Statement</U>. The Company shall use commercially reasonable efforts to
maintain the effectiveness of any Registration Statement with respect to the Shares that has been declared effective at all times during
the Commitment Period, provided, however, that if the Company has received notification pursuant to <U>Section 2.04</U> that the Investor
has completed resales pursuant to the Registration Statement for the full Commitment Amount, then the Company shall be under no further
obligation to maintain the effectiveness of the Registration Statement. Notwithstanding anything to the contrary contained in this Agreement,
the Company shall ensure that, when filed, each Registration Statement (including, without limitation, all amendments and supplements
thereto) and the prospectus (including, without limitation, all amendments and supplements thereto) used in connection with such Registration
Statement shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or
necessary to make the statements therein (in the case of prospectuses, in the light of the circumstances in which they were made) not
misleading. During the Commitment Period, the Company shall notify the Investor promptly if (i) the Registration Statement shall cease
to be effective under the Securities Act, (ii) the Ordinary Shares shall cease to be authorized for listing on the Principal Market, (iii)
the Ordinary Shares cease to be registered under Section 12(b) or Section&nbsp;12(g) of the Exchange Act or (iv) the Company fails to
file in a timely manner all reports and other documents required of it as a reporting company under the Exchange Act. During such time
that the Investor is informed that the Registration Statement is no longer effective or current, the Investor agrees not to sell any Ordinary
Shares pursuant to such Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><U>Filing Procedures</U>. The Company shall (A)&nbsp;permit counsel to the Investor an opportunity to
review and comment upon (i)&nbsp;each Registration Statement at least two (2)&nbsp;days prior to its filing with the SEC and (ii)&nbsp;all
amendments and supplements to each Registration Statement (including, without limitation, the Prospectus contained therein) (except for
Annual Reports on Form&nbsp;20-F,&nbsp; Reports on Form&nbsp;6-K,&nbsp;and any similar or successor reports or Prospectus Supplements
the contents of which is limited to that set forth in such reports) within a reasonable number of days prior to their filing with the
SEC (in each of which cases, if such document contains material non-public information, the Company shall refrain from providing such
information during a Pricing Period, and any such information provided to the Investor will be kept confidential until filed or until
it is not deemed material and/or nonpublic information anymore), and (B)&nbsp;shall reasonably consider any comments of the Investor and
its counsel on any such Registration Statement or amendment or supplement thereto or to any Prospectus contained therein. The Company
shall promptly furnish to the Investor, without charge, (i)&nbsp;electronic copies of any correspondence from the SEC or the staff of
the SEC to the Company or its representatives relating to each Registration Statement (which correspondence shall be redacted to exclude
any material,&nbsp;non-public&nbsp;information regarding the Company or any of its Subsidiaries), (ii) after the same is prepared and
filed with the SEC, one (1)&nbsp;electronic copy of each Registration Statement and any amendment(s) and supplement(s) thereto, including,
without limitation, financial statements and schedules, all documents incorporated therein by reference, if requested by the Investor,
and all exhibits and (iii)&nbsp;upon the effectiveness of each Registration Statement, one (1)&nbsp;electronic copy of the Prospectus
included in such Registration Statement and all amendments and supplements thereto; provided, however, the Company shall not be required
to furnish any document to the extent such document is available on EDGAR).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify"><U>Amendments and Other Filings</U>. The Company shall use commercially reasonable efforts to (i) prepare
and file with the SEC such amendments&nbsp;(including post-effective amendments) and supplements to a Registration Statement and the related
prospectus used in connection with such Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under
the Securities Act, as may be necessary to keep such Registration Statement effective at all times during the Commitment Period, and prepare
and file with the SEC such additional Registration Statements in order to register for resale under the Securities Act all of the Registrable
Securities; (ii) cause the related prospectus to be amended or supplemented by any required prospectus supplement (subject to the terms
of this Agreement), and as so supplemented or amended to be filed pursuant to Rule 424 promulgated under the Securities Act; (iii) provide
the Investor with copies of all correspondence from and to the SEC relating to a Registration Statement (provided that the Company may
excise any information contained therein which would constitute material non-public information); and (iv) comply with the provisions
of the Securities Act with respect to the Registration Statement. In the case of amendments and supplements to a Registration Statement
which are required to be filed pursuant to this Agreement (including pursuant to this <U>Section 6.01(d)</U> by reason of the Company&rsquo;s
filing of an Annual Report on Form 20-F or a Report on Form 6-K or any analogous report under the Exchange Act that updates or changes
material information included in the Registration Statement and the related prospectus), provided that such report is not automatically
incorporated by reference into the applicable Registration Statement, the Company shall use commercially reasonable efforts to file such
report in a prospectus supplement filed pursuant to Rule 424 promulgated under the Securities Act to incorporate such filing into the
prospectus included in the Registration Statement, if applicable and permitted, or to file such amendments or supplements to the Registration
Statement with the SEC either on the day on which the Exchange Act report is filed which created the requirement for the Company to amend
or supplement the Registration Statement, if feasible, or otherwise promptly thereafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify"><U>Blue-Sky</U>. The Company shall use its commercially reasonable efforts to, if required by Applicable
Laws, (i) register and qualify the Ordinary Shares covered by a Registration Statement under such other securities or &ldquo;blue sky&rdquo;
laws of such jurisdictions in the United States as the Investor reasonably requests, (ii)&nbsp;prepare and file in those jurisdictions,
such amendments (including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to
maintain the effectiveness thereof during the Commitment Period, (iii) take such other actions as may be necessary to maintain such registrations
and qualifications in effect at all times during the Commitment Period, and (iv) take all other actions reasonably necessary or advisable
to qualify the Ordinary Shares for sale in such jurisdictions; provided, however, that the Company shall not be required in connection
therewith or as a condition thereto to (w) make any change to the organizational documents of the Company or any of its Subsidiaries,
(x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this <U>Section 6.01(e)</U>,
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.
The Company shall promptly notify the Investor of the receipt by the Company of any notification with respect to the suspension of the
registration or qualification of any of the Ordinary Shares for sale under the securities or &ldquo;blue sky&rdquo; laws of any jurisdiction
in the United States or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.02&nbsp;<U>Suspension
of Registration Statement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><U>Establishment of a Black Out Period</U>. During the Commitment Period, the Company from time to time
may suspend the use of the Registration Statement by written notice to the Investor in the event that the Company determines in its sole
discretion that such suspension is necessary to (i) delay the disclosure of material non-public information concerning the Company, the
disclosure of which at the time is not, in the good faith opinion of the Company, in the best interests of the Company, or (ii) amend
or supplement the Registration Statement or Prospectus so that such Registration Statement or Prospectus shall not include an untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light
of the circumstances under which they were made, not misleading (a &ldquo;<U>Black Out Period</U>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><U>No Sales by Investor During the Black Out Period</U>. During such Black Out Period, the Investor agrees
not to sell any Ordinary Shares of the Company pursuant to such Registration Statement, but may sell shares pursuant to an exemption from
registration, if available, subject to the Investor&rsquo;s compliance with Applicable Laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><U>Limitations on the Black Out Period</U>. The Company shall not impose any Black Out Period that is
longer than 60 consecutive days (or 90 days in any calendar year) or in a manner that is more restrictive (including, without limitation,
as to duration) than the comparable restrictions that the Company may impose on transfers of the Company&rsquo;s equity securities by
its directors and senior executive officers. In addition, the Company shall not deliver any Advance Notice during any Black Out Period.
If the public announcement of such material, nonpublic information is made during a Black Out Period, the Black Out Period shall terminate
immediately after such announcement, and the Company shall immediately notify the Investor of the termination of the Black Out Period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.03&nbsp;<U>Listing of
Ordinary Shares</U>. As of each Advance Notice Date and the relevant Advance Date, the Shares to be sold by the Company from time to time
hereunder will have been registered under Section 12(b) of the Exchange Act and approved for listing on the Principal Market, subject
to official notice of issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.04&nbsp;<U>Opinion of
Counsel</U>. Prior to the date of the delivery by the Company of the first Advance Notice, the Investor shall have received a customary
opinion letter from counsel to the Company substantially in a form and in substance reasonably satisfactory to the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.05&nbsp;<U>Exchange
Act Registration</U>. The Company will use commercially reasonable efforts to file in a timely manner all reports and other documents
required of it as a foreign private issuer under the Exchange Act and will not, during the Commitment Period, take any action or file
any document (whether or not permitted by Exchange Act or the rules thereunder) to terminate or suspend its reporting and filing obligations
under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.06&nbsp;<U>Transfer
Agent Instructions</U>. During the Commitment Period (or such shorter time as permitted by <U>Section 2.04</U> of this Agreement) and
subject to Applicable Laws, the Company shall cause (including, if necessary, by causing legal counsel for the Company to deliver a customary
opinion) the transfer agent for the Ordinary Shares to remove restrictive legends from Ordinary Shares purchased by the Investor pursuant
to this Agreement, provided that counsel for the Company shall have been furnished with such documents as they may require for the purpose
of enabling them to render such opinions or making the statements requested by the transfer agent or in order to evidence the accuracy
of any of the representations or warranties, or the fulfillment of any of the covenants, obligations or conditions, contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.07&nbsp;<U>Corporate
Existence</U>. The Company will use commercially reasonable efforts to preserve and continue the corporate existence of the Company during
the Commitment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.08&nbsp;<U>Notice of
Certain Events Affecting Registration; Suspension of Right to Make an Advance</U>. The Company will promptly notify the Investor, and
confirm in writing, upon its becoming aware of the occurrence of any of the following events in respect of a Registration Statement or
related Prospectus relating to the offering of the Shares (in each of which cases, if the information constitutes material nonpublic information,
the information provided to Investor will be kept confidential until disclosed by the Company): (i) except for requests made in connection
with SEC investigations disclosed in any SEC Documents, receipt of any request for additional information by the SEC or any other Federal
or state governmental authority during the period of effectiveness of the Registration Statement the response to which would require any
post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the SEC or any other Federal
governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings
for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification
of any of the Ordinary Shares for sale in any jurisdiction or the initiation or written threat of any proceeding for such purpose; (iv)
the happening of any event that makes any statement made in the Registration Statement or related Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related Prospectus or documents so that, in the case of the Registration Statement, it will not contain any 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 not misleading,
and that in the case of the related Prospectus, it will not contain any 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 the light of the circumstances under which they were
made, not misleading, or of the necessity to amend the Registration Statement or supplement a related Prospectus to comply with the Securities
Act or any other law (and the Company will promptly make available to the Investor any such supplement or amendment to the related Prospectus,
provided, however, the Company shall not be required to furnish any documents to the extent such document is available for access on EDGAR);
(v) the Company&rsquo;s reasonable determination that a post-effective amendment to the Registration Statement would be required under
Applicable Law; (vi) the Ordinary Shares shall cease to be authorized for listing on the Principal Market; or (vii) the Company fails
to file in a timely manner all reports and other documents required of it as a reporting company under the Exchange Act. The Company shall
not deliver to the Investor any Advance Notice, and the Company shall not sell any Shares pursuant to any pending Advance Notice (other
than as required pursuant to <U>Section 2.02(d)</U>), during the continuation of any of the foregoing events (each of the events described
in the immediately preceding clauses (i) through (vii), inclusive, a &ldquo;<U>Material Outside Event</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.09&nbsp;<U>Consolidation</U>.
If an Advance Notice has been delivered to the Investor, then the Company shall not effect any consolidation of the Company with or into,
or a transfer of all or substantially all the assets of the Company to another entity before the transaction contemplated in such Advance
Notice has been closed in accordance with <U>Section 2.02</U> hereof, and all Shares in connection with such Advance have been received
by the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.10&nbsp;<U>Issuance
of the Company&rsquo;s Ordinary Shares.</U> The issuance and sale of the Ordinary Shares hereunder shall be made in accordance with the
provisions and requirements of Section 4(a)(2) of the Securities Act and any applicable state securities law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.11&nbsp;<U>Expenses</U>.
The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, will pay all expenses
incident to the performance of its obligations hereunder, including but not limited to (i) the preparation, printing and filing of the
Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement thereto; (ii)
the preparation, issuance and delivery of any Shares issued pursuant to this Agreement, (iii) all reasonable fees and disbursements of
the Company&rsquo;s counsel, accountants and other advisors (but not, for the avoidance doubt, the fees and disbursements of Investor&rsquo;s
counsel, accountants and other advisors), (iv) the qualification of the Shares under securities laws in accordance with the provisions
of this Agreement, including filing fees in connection therewith, (v) the printing and delivery of copies of any Prospectus and any amendments
or supplements thereto reasonably requested by the Investor, (vi) the fees and expenses incurred in connection with the listing or qualification
of the Shares for trading on the Principal Market, and (vii) filing fees of the SEC and the Principal Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.12&nbsp;<U>Current Report.</U>
The Company shall, not later than 5:30 p.m., New York City time, on the fourth Business Day after the date of this Agreement, file with
the SEC a report on Form&nbsp;6-K&nbsp;describing the execution of this Agreement by the Company and the Investor (including any exhibits
thereto, the &ldquo;<U>Current Report</U>&rdquo;). The Company shall provide the Investor and its legal counsel a reasonable opportunity
to comment on a draft of the Current Report including any exhibits to be filed related thereto, as applicable, prior to filing the Current
Report with the SEC and shall reasonably consider all such comments. Notwithstanding anything contained in this Agreement to the contrary,
the Company expressly agrees that from and after the filing of the Current Report with the SEC, the Company shall have publicly disclosed
all material, non-public information provided to the Investor (or the Investor&rsquo;s representatives or agents) by the Company or any
of its Subsidiaries, or any of their respective officers, directors, employees, agents or representatives (if any) in connection with
the transactions contemplated by the Transaction Documents.&nbsp;The Company shall not, and the Company shall cause each of its Subsidiaries
and each of its and their respective officers, directors, employees and agents not to, provide the Investor with any material, non-public
information regarding the Company or any of its Subsidiaries without the express prior written consent of the Investor (which may be granted
or withheld in the Investor&rsquo;s sole discretion and, if granted, must include an agreement to keep such information confidential until
publicly disclosed); it being understood that the mere notification of the Investor required pursuant to <U>Section 6.08(ix)</U> hereof
shall not in and of itself be deemed to be material non-public information. Notwithstanding anything contained in this Agreement to the
contrary, the Company expressly agrees that it shall publicly disclose in the Current Report or otherwise make publicly available any
information communicated to the Investor by or, to the knowledge of the Company, on behalf of the Company in connection with the transactions
contemplated by the Transaction Documents, which, following the Effective Date would, if not so disclosed, constitute material, non-public
information regarding the Company or its Subsidiaries. The Company understands and confirms that the Investor will rely on the foregoing
representations in effecting resales of Shares in accordance with this Agreement. In addition, effective upon the filing of the Current
Report, the Company acknowledges and agrees that any and all confidentiality or similar obligations with respect to the transactions contemplated
by the Transaction Documents under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their
respective officers, directors, Affiliates, employees or agents, on the one hand, and Investor or any of its respective officers, directors,
Affiliates, employees or agents, on the other hand, shall terminate. In no event shall the Investor have a duty of confidentiality or
be deemed to have agreed to maintain information in confidence, with respect to the delivery of any Advance Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.13&nbsp;<U>Advance Notice
Limitation</U>. The Company shall not deliver an Advance Notice if a shareholder meeting or corporate action, or the record date for any
shareholder meeting or any corporate action, would fall during the period beginning two Trading Days prior to the date of delivery of
such Advance Notice and ending two Trading Days following the Closing of such Advance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.14&nbsp;<U>Use of Proceeds</U>.
The Company will use the proceeds from the sale of the Ordinary Shares hereunder for working capital and other general corporate purposes
or, if different, in a manner consistent with the application thereof described in&nbsp;the Prospectus included in any Registration Statement
(and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to this Agreement. Neither the Company
nor any Subsidiary will, directly or indirectly, use the proceeds of the transactions contemplated herein, or lend, contribute, facilitate&nbsp;or
otherwise make available such proceeds to any Person (i) to fund, either directly or indirectly, any activities or business of or with
any Person that is identified on the list of Specially Designated Nationals and Blocker Persons maintained by OFAC, or in any country
or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions or Sanctions Programs, or (ii) in
any other manner that will result in a violation of Sanctions or Applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.15&nbsp;<U>Market Activities</U>.
Neither the Company, nor any Subsidiary, nor any of their respective officers, directors or controlling persons will, directly or indirectly,
(i)&nbsp;take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute or result,
in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of Ordinary Shares or
(ii)&nbsp;sell, bid for, or purchase Ordinary Shares in violation of Regulation M, or pay anyone any compensation for soliciting purchases
of the Shares; <I>provided however</I> that nothing contained in this Agreement shall limit the Company in any way from initiating, discussing,
negotiating, engaging in any agreement, effecting, closing or otherwise taking any action (including making any filing with any governmental
authority, issuing any securities or registering any securities for trading on any stock exchange) in connection with any private or public
offering of the Company&rsquo;s securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.16&nbsp;<U>Trading Information</U>.
Upon the Company&rsquo;s request, the Investor agrees to provide the Company with trading reports setting forth the number and average
sales prices of Ordinary Shares sold by the Investor during the prior trading week.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.17&nbsp;<U>Selling Restrictions</U>.
Except as expressly set forth below, the Investor covenants that from and after the date hereof through and including the Trading Day
next following the expiration or termination of this Agreement as provided in <U>Section 9.01</U> (the &ldquo;<U>Restricted Period</U>&rdquo;),
none of the Investor, any of its officers, or any entity managed or controlled by the Investor (collectively, the &ldquo;<U>Restricted
Persons</U>&rdquo; and each of the foregoing is referred to herein as a &ldquo;<U>Restricted Person</U>&rdquo;) shall, directly or indirectly,
engage in any &ldquo;short sale&rdquo; (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Ordinary Shares,
either for its own principal account or for the principal account of any other Restricted Person. Notwithstanding the foregoing, it is
expressly understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise be true) prohibit
any Restricted Person during the Restricted Period from: (1)&nbsp;selling &ldquo;long&rdquo; (as defined under Rule 200 promulgated under
Regulation SHO) any Ordinary Shares; or (2)&nbsp;selling a number of Ordinary Shares equal to the number of Advance Shares that such Restricted
Person is unconditionally obligated to purchase under a pending Advance Notice but has not yet received from the Company or the transfer
agent pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.18&nbsp;<U>Assignment</U>.
This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns.
No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of
its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement or the
transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported
assignor&rsquo;s due performance of its obligations hereunder, without the prior written consent of the other Party and any such purported
assignment in contravention of the provisions herein shall be null and void and of no force or effect. Without the consent of the Investor,
the Company shall not have the right to assign or transfer any of its rights or provide any third party the right to bind or obligate
the Company, to deliver Advance Notices or effect Advances hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.19&nbsp;<U>No Frustration</U>.
For so long as an Advance Notice is pending and any sales pursuant to such notice have not settled, the Company shall not enter into,
announce or recommend to its shareholders any agreement, plan, arrangement or transaction in or of which the terms thereof would restrict,
materially delay, conflict with or impair the ability or right of the Company to perform its obligations under the Transaction Documents
to which it is a party, including, without limitation, the obligation of the Company to deliver the Shares to the Investor in respect
of an Advance Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article VII. Non
Exclusive Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything contained
herein, this Agreement and the rights awarded to the Investor hereunder are non-exclusive, and the Company may, at any time throughout
the term of this Agreement and thereafter, issue, sell and allot, or undertake to issue, sell and allot, any shares, warrants and/or securities
and/or convertible notes, bonds, debentures, options to acquire shares or other securities and/or other facilities which may be converted
into or replaced by Ordinary Shares or other securities of the Company, and may extend, renew and/or recycle any bonds and/or debentures,
and/or grant any rights with respect to its existing and/or future share capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article VIII. Choice
of Law/Jurisdiction; Waiver of Jury Trial</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Section 8.01&nbsp;This Agreement,
and any and all claims, proceedings or causes of action relating to this Agreement or arising from this Agreement or the transactions
contemplated herein, including, without limitation, tort claims, statutory claims and contract claims, shall be interpreted, construed,
governed and enforced under and solely in accordance with the substantive and procedural laws of the State of New York, in each case as
in effect from time to time and as the same may be amended from time to time, and as applied to agreements performed wholly within the
State of New York. The Parties further agree that any action between them shall be heard in New York County, New York, and expressly consent
to the jurisdiction of and laying of venue in the Supreme Court of the State of New York, sitting in New York County, New York and the
United States District Court of the Southern District of New York, sitting in New York, New York, for the adjudication of any civil action
filed pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Section 8.02&nbsp;EACH PARTY
HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN, THE PERFORMANCE THEREOF OR
THE FINANCINGS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)&nbsp;CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)&nbsp;ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article IX. Termination</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.01&nbsp;<U>Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically on the earlier
of (i)&nbsp;36 months following the Effective Date or (ii) the date on which the Investor shall have made payment of Advances pursuant
to this Agreement for Ordinary Shares equal to the Commitment Amount.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">The Company may terminate this Agreement effective upon two (2) Trading Days&rsquo; prior written notice
to the Investor; provided that (i) there are no outstanding Advance Notices, the Ordinary Shares under which have yet to be issued, and
(ii) the Company has paid all amounts owed to the Investor pursuant to this Agreement as of the time of such termination. This Agreement
may be terminated at any time by the mutual written consent of the Parties, effective as of the date of such mutual written consent unless
otherwise provided in such written consent.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Nothing in this <U>Section 9.01</U> shall be deemed to release the Company or the Investor from any liability
for any breach under this Agreement prior to the valid termination hereof, or to impair the rights of the Company and the Investor to
compel specific performance by the other party of its obligations under this Agreement prior to the valid termination hereof. The indemnification
provisions contained in Article V shall survive termination hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article X. Notices</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 10.01&nbsp;<U>Notices</U>.
Other than with respect to Advance Notices, which must be in writing delivered in accordance with <U>Section 2.01(b)</U> and will be deemed
delivered on the day set forth in <U>Section 2.01(b)</U>, any notices, consents, waivers, or other communications required or permitted
to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (i) upon receipt, when delivered
personally, (ii) upon receipt, when sent by e-mail if sent on a Trading Day, or, if not sent on a Trading Day, on the immediately following
Trading Day, (iii) 5 calendar days after being sent by U.S. certified mail, return receipt requested, or (iv) 1 calendar day after deposit
with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses
for such communications (except for Advance Notices which shall be delivered in accordance with <U>Exhibit A</U> hereof) shall be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">If to the Company, to:</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Webull Corporation<BR>
    200 Carillon Parkway</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">St. Petersburg,&nbsp;Florida&nbsp;33716</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Attn: Benjamin James, General Counsel<BR>
    E-mail: &nbsp;ben@webull.com</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With copies (which shall not</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">constitute notice or delivery of
    process) to:</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Kirkland &amp; Ellis LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">601 Lexington Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">New York, NY 10022</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Attn:</TD>
    <TD>Christian O. Nagler,
    P.C.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Mathieu Kohmann</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>E-mail:</TD>
    <TD>christian.nagler@kirkland.com</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 53%">mathieu.kohmann@kirkland.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: normal; text-align: left; font-size: 10pt">If to the Investor:</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">YA II PN, Ltd.<BR>
1012 Springfield Avenue<BR>
Mountainside, NJ 07092</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 7%">Attn:</TD>
    <TD STYLE="width: 53%">Mark Angelo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>E-mail:</TD>
    <TD>mangelo@yorkvilleadvisors.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With a copy (which shall not</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">constitute notice or delivery of
    process) to:</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">David Fine, Esq.<BR>
1012 Springfield Avenue<BR>
Mountainside, NJ 07092</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>E-mail:</TD>
    <TD>legal@yorkvilleadvisors.com</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">or at such other address and/or e-mail and/or
to the attention of such other person as the recipient party has specified by written notice given to each other party three Business
Days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient of such notice, consent, waiver
or other communication, (ii) electronically generated by the sender&rsquo;s email service provider containing the time, date, recipient
email address or (iii) provided by a nationally recognized overnight delivery service shall be rebuttable evidence of personal service
in accordance with clause (i), (ii) or (iii) above, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Article XI. Miscellaneous</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.01&nbsp;<U>Counterparts</U>.
This Agreement may be executed in identical counterparts, both which shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party. Facsimile or other electronically scanned and delivered
signatures (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the
Electronic Signatures and Records Act or other applicable law, <I>e.g.</I>, www.docusign.com), including by e-mail attachment, shall be
deemed to have been duly and validly delivered and be valid and effective for all purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.02&nbsp;<U>Entire Agreement;
Amendments</U>. This Agreement supersedes all other prior oral or written agreements between the Investor, the Company, their respective
Affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement contains the entire understanding
of the Parties with respect to the matters covered herein and, except as specifically set forth herein, neither the Company nor the Investor
makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may be waived
or amended other than by an instrument in writing signed by the Parties to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.03&nbsp;<U>Reporting
Entity for the Ordinary Shares</U>. The reporting entity relied upon for the determination of the trading price or trading volume of the
Ordinary Shares on any given Trading Day for the purposes of this Agreement shall be Bloomberg, L.P. or any successor thereto. The written
mutual consent of the Investor and the Company shall be required to employ any other reporting entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.04&nbsp;<U>Commitment
and Structuring Fee</U>. Each of the Parties shall pay its own fees and expenses&nbsp;(including the fees of any attorneys, accountants,
appraisers or others engaged by such party) in connection with this Agreement and the transactions contemplated hereby, except that the
Company has paid the Investor or its designee a structuring fee in the amount of $25,000, and the Company shall pay a commitment fee in
an amount equal to 0.20% of the Commitment Amount (the &ldquo;<U>Commitment Fee</U>&rdquo;) by the issuance to the Investor within three
Business Days of the date hereof of such number of Ordinary Shares that is equal to the Commitment Fee divided by the last closing price
of the Ordinary Shares as of the signing of this Agreement (collectively, the &ldquo;<U>Commitment Shares</U>&rdquo;). The Commitment
Shares issued hereunder shall be included on the initial Registration Statement. The Commitment Shares issued hereunder shall bear a restrictive
legend in substantially the following form (and stop transfer instructions may be placed against transfer of such shares):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&ldquo;THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH,
IN THE OPINION OF COUNSEL, IS AVAILABLE.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.05&nbsp;<U>Brokerage</U>.
Each of the Parties hereto represents that it has had no dealings in connection with this transaction with any finder or broker who will
demand payment of any fee or commission from the other party. The Company on the one hand, and the Investor, on the other hand, agree
to indemnify the other against and hold the other harmless from any and all liabilities to any person claiming brokerage commissions or
finder&rsquo;s fees on account of services purported to have been rendered on behalf of the indemnifying party in connection with this
Agreement or the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the Parties hereto have caused this Standby Equity Purchase Agreement to be executed by the undersigned, thereunto duly authorized, as
of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD COLSPAN="2"><B>COMPANY:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Webull Corporation</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Anquan Wang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:&nbsp;</TD>
    <TD STYLE="width: 35%"> Anquan Wang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>INVESTOR:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>YA II PN, Ltd.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2">Yorkville Advisors Global, LP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Its:</TD>
    <TD COLSPAN="2">Investment Manager</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P></TD>
    <TD STYLE="width: 4%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">By:</P></TD>
    <TD STYLE="width: 32%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Yorkville Advisors Global II, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Its:</TD>
    <TD>General Partner</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 31%">/s/ Matthew Beckman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;</TD>
    <TD>Matthew Beckman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Manager</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX I TO THE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STANDBY EQUITY PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance</U>&rdquo;
shall mean any issuance and sale of Advance Shares by the Company to the Investor pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance Date</U>&rdquo;
shall mean the first Trading Day after expiration of the applicable Pricing Period for each Advance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance Notice</U>&rdquo;
shall mean a written notice in the form of <U>Exhibit A</U> attached hereto to the Investor executed by an officer of the Company and
setting forth the number of Advance Shares that the Company desires to issue and sell to the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance Notice Date</U>&rdquo;
shall mean each date the Company is deemed to have delivered (in accordance with <U>Section 2.01(b)</U> of this Agreement) an Advance
Notice to the Investor, subject to the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance Share Estimate</U>&rdquo;
shall mean the number of Ordinary Shares that the Company elects to sell to the Investor in an Advance Notice and which shall constitute
a good faith estimate of the number of Shares that the Investor shall have the obligation to purchase pursuant to such Advance Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Advance Shares</U>&rdquo;
shall mean the Ordinary Shares that the Company shall issue and sell to the Investor pursuant to an Advance Notice delivered in accordance
with the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo;
shall have the meaning set forth in <U>Section 3.08</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo;
shall have the meaning set forth in the preamble of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable Laws</U>&rdquo;
shall mean all applicable laws, statutes, rules, regulations, orders, decrees, rulings, injunctions, executive orders, directives, policies,
guidelines and codes having the force of law, whether local, national, or international, as amended from time to time, including without
limitation (i) all applicable laws that relate to money laundering, terrorist financing, financial record keeping and reporting, (ii)
all applicable laws that relate to anti-bribery, anti-corruption, books and records and internal controls, including the United States
Foreign Corrupt Practices Act of 1977, and (iii) any Sanctions laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Average Price</U>&rdquo;
shall mean a price per Share equal to the quotient obtained by dividing (i) the aggregate gross purchase price paid by the Investor for
all Shares purchased pursuant to this Agreement, by (ii) the aggregate number of Shares issued pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Black Out Period</U>&rdquo;
shall have the meaning set forth in <U>Section 6.02(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo;
shall mean any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by Applicable Law to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Closing</U>&rdquo;
shall have the meaning set forth in <U>Section 2.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commitment Amount</U>&rdquo;
shall mean $1.0 billion of Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commitment Fee</U>&rdquo;
shall have the meaning set forth in <U>Section 11.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commitment Period</U>&rdquo;
shall mean the period commencing on the Effective Date and expiring upon the date of termination of this Agreement in accordance with
<U>Section 9.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commitment Shares</U>&rdquo;
shall have the meaning set forth in <U>Section 11.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Company</U>&rdquo;
shall have the meaning set forth in the preamble of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Company Indemnitees</U>&rdquo;
shall have the meaning set forth in <U>Section 5.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Condition Satisfaction
Date</U>&rdquo; shall have the meaning set forth in <U>Annex II</U> hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Current Report</U>&rdquo;
shall have the meaning set forth in <U>Section 6.12</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Daily Traded Amount</U>&rdquo;
shall mean the daily trading volume of the Ordinary Shares on the Principal Market during regular trading hours as reported by Bloomberg
L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Effective Date</U>&rdquo;
shall mean the date this Agreement is executed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Environmental Laws</U>&rdquo;
shall have the meaning set forth in <U>Section 4.13</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Exchange Act</U>&rdquo;
shall mean the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Exchange Cap</U>&rdquo;
shall have the meaning set forth in <U>Section 2.01(c)(iii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>GAAP</U>&rdquo;
shall have the meaning set forth in Section 4.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Hazardous Materials</U>&rdquo;
shall have the meaning set forth in <U>Section 4.13</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Home Country Practice</U>&rdquo;
shall have the meaning set forth in <U>Section 3.02(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Indemnified Liabilities</U>&rdquo;
shall have the meaning set forth in <U>Section 5.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Investor</U>&rdquo;
shall have the meaning set forth in the preamble of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Investor Indemnitees</U>&rdquo;
shall have the meaning set forth in <U>Section 5.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Market Price</U>&rdquo;
shall mean the VWAP of the Ordinary Shares during the relevant Pricing Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Material Adverse
Effect</U>&rdquo; shall mean any event, occurrence or condition that has had or would reasonably be expected to have (i) a material adverse
effect on the legality, validity or enforceability of this Agreement or the transactions contemplated herein, (ii) a material adverse
effect on the results of operations, assets, business or condition (financial or otherwise) of the Company and its Subsidiaries, taken
as a whole, or (iii) a material adverse effect on the Company&rsquo;s ability to perform in any material respect on a timely basis its
obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Material Outside
Event</U>&rdquo; shall have the meaning set forth in <U>Section 6.08</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Nasdaq</U>&rdquo;
shall mean The Nasdaq Stock Market LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>OFAC</U>&rdquo;
shall have the meaning set forth in <U>Section 4.29</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Ordinary Share Equivalents</U>&rdquo;
shall mean any securities of the Company or its Subsidiaries which entitle the holder thereof to acquire at any time Ordinary Shares,
including, without limitation, any debt, preference shares, rights, options, warrants or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Ordinary Shares</U>&rdquo;
shall have the meaning set forth in the recitals of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Ownership Limitation</U>&rdquo;
shall have the meaning set forth in <U>Section 2.01(c)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Person</U>&rdquo;
shall mean an individual, a corporation, a partnership, a limited liability company, a trust or other entity or organization, including
a government or political subdivision or an agency or instrumentality thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Plan of Distribution</U>&rdquo;
shall mean the section of a Registration Statement disclosing the plan of distribution of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Pricing Period</U>&rdquo;
shall mean the period on the applicable Advance Notice Date commencing upon receipt by the Company of written confirmation (which may
be by e-mail) of receipt of such Advance Notice by the Investor, and which confirmation shall specify such commencement time, and ending
on 4:00 p.m. New York City time on the same Trading Day (unless otherwise agreed by the Parties, or a Pricing Period is terminated pursuant
to the terms of this Agreement), <I>provided however</I>, the Investor may delay the commencement of the Pricing Period until such time
that the Investor has received confirmation that the transfer agent of the Company has credited the Investor&rsquo;s account (or its designee&rsquo;s
account) at the Depository Trust Company through its Deposit Withdrawal at Custodian System (or by such other means of delivery as may
be mutually agreed upon by the Parties) with a number of Ordinary Shares equal to the Advance Share Estimate, in which case such Pricing
Period shall commence upon receipt by the Company of written confirmation (which may be by e-mail) of receipt of such Advance Share Estimate
by the Investor, and which confirmation shall specify such commencement time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Principal Market</U>&rdquo;
shall mean the Nasdaq Capital Market; provided however, that in the event the Ordinary Shares are ever listed or traded on the Nasdaq
Global Select Market, the Nasdaq Global Market, the New York Stock Exchange, or the NYSE American, then the &ldquo;Principal Market&rdquo;
shall mean such other market or exchange on which the Ordinary Shares are then listed or traded to the extent such other market or exchange
is the principal trading market or exchange for the Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Prospectus</U>&rdquo;
shall mean any prospectus (including, without limitation, all amendments and supplements thereto) used by the Company in connection with
a Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Prospectus Supplement</U>&rdquo;
shall mean any prospectus supplement to a Prospectus filed with the SEC from time to time pursuant to Rule 424(b) under the Securities
Act, including the documents incorporated by reference therein, including, without limitation, any prospectus supplement to be filed in
accordance with Section 6.01 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Purchase Price</U>&rdquo;
shall mean the price per Advance Share obtained by multiplying the Market Price by 97.50%, which shall in any event be no less than the
par value per Advance Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Reduced Advance</U>&rdquo;
shall have the meaning set forth in <U>Section 2.01(c)(iv)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registrable Securities</U>&rdquo;
shall mean (i) the Shares, and (ii) any securities issued or issuable with respect to the Shares by way of exchange, share dividend or
share split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registration Limitation</U>&rdquo;
shall have the meaning set forth in <U>Section 2.01(c)(ii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registration Statement</U>&rdquo;
shall mean a registration statement on Form F-1 or Form F-3 or on such other form promulgated by the SEC for which the Company then qualifies
and which counsel for the Company shall deem appropriate, and which form shall be available for the registration of the resale by the
Investor of the Registrable Securities under the Securities Act, which registration statement provides for the resale from time to time
of the Shares as provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Regulation D</U>&rdquo;
shall mean the provisions of Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Sanctions</U>&rdquo;
shall have the meaning set forth in <U>Section 4.29</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Sanctioned Countries</U>&rdquo;
shall have the meaning set forth in <U>Section 4.29</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>SEC</U>&rdquo; shall
mean the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>SEC Documents</U>&rdquo;
shall have the meaning set forth in <U>Section 4.05</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Securities Act</U>&rdquo;
shall have the meaning set forth in the recitals of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Settlement Document</U>&rdquo;
shall have the meaning set forth in <U>Section 2.02(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Shares</U>&rdquo;
shall mean the Commitment Shares and the Ordinary Shares to be issued from time to time hereunder pursuant to an Advance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Subsidiaries</U>&rdquo;
shall mean any Person in which the Company, directly or indirectly, (x) owns a majority of the outstanding share capital or holds a majority
of the equity or similar interest of such Person or (y) controls or operates all or substantially all of the business, operations or administration
of such Person, and the foregoing are collectively referred to herein as &ldquo;<U>Subsidiaries</U>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Trading Day</U>&rdquo;
shall mean any day during which the Principal Market shall be open for business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transaction Documents</U>&rdquo;
shall mean, collectively, this Agreement and each of the other agreements and instruments entered into or delivered by the Parties hereto
in connection with the transactions contemplated hereby and thereby, as may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Variable Rate Transaction</U>&rdquo;
shall mean a transaction in which the Company (i) issues or sells any Ordinary Shares or Ordinary Share Equivalents that are convertible
into, exchangeable or exercisable for, or include the right to receive additional Ordinary Shares either (A) at a conversion price, exercise
price, exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the Ordinary Shares
at any time after the initial issuance of Ordinary Shares or Ordinary Share Equivalents, or (B) with a conversion, exercise or exchange
price that is subject to being reset at some future date after the initial issuance of such equity or debt security or upon the occurrence
of specified or contingent events directly or indirectly related to the business of the Company or the market for the Ordinary Shares
(including, without limitation, any &ldquo;full ratchet,&rdquo; &ldquo;share ratchet,&rdquo; &ldquo;price ratchet,&rdquo; or &ldquo;weighted
average&rdquo; anti-dilution provisions, but not including any standard anti-dilution protection for any reorganization, recapitalization,
non-cash dividend, share split or other similar transaction), (ii) enters into, or effects a transaction under, any agreement, including
but not limited to an &ldquo;equity line of credit&rdquo; or similar offering of Ordinary Shares or Ordinary Share Equivalents, or (iii)
any forward purchase agreement, equity pre-paid forward transaction or other similar offering of securities where the purchaser of securities
of the Company receives an upfront or periodic payment of all, or a portion of, the value of the securities so purchased, and the Company
receives proceeds from such purchaser based on a price or value that varies with the trading prices of the Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Volume Threshold</U>&rdquo;
shall mean a number of Ordinary Shares equal to the quotient of (a) the number of Advance Shares requested by the Company in an Advance
Notice divided by (b) 0.30.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>VWAP</U>&rdquo; shall mean for any Trading
Day or specified period, the volume weighted average price of the Ordinary Shares on the Principal Market, for such Trading Day or specified
period as reported by Bloomberg L.P. through its &ldquo;AQR&rdquo; function.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Webull Class B Ordinary Shares</U>&rdquo;
means the Class B ordinary shares of the Company, par value US$0.00001 per share, each entitling the holder thereof to 20 votes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Webull Ordinary Shares</U>&rdquo; means
ordinary shares of the Company, par value US$0.00001 per share, consisting of Ordinary Shares and Webull Class B Ordinary Shares.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO THE STANDBY EQUITY PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONDITIONS PRECEDENT TO THE RIGHT OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO DELIVERY AN ADVANCE NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The right of the Company to
deliver an Advance Notice and the obligations of the Investor hereunder with respect to an Advance are subject to the satisfaction or
waiver, on each Advance Notice Date (a &ldquo;<U>Condition Satisfaction Date</U>&rdquo;), of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><U>Accuracy of the Company&rsquo;s Representations and Warranties</U>. The representations and warranties
of the Company in this Agreement shall be true and correct in all material respects as of the Advance Notice Date (except to the extent
such representations and warranties are as of another date, such representations and warranties shall be true and correct as of such other
date).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><U>Issuance of Commitment Shares</U><B>.</B> The Company shall have issued the Commitment Shares to an
account designated by the Investor, in accordance with <U>Section 11.04</U>, all of which Commitment Shares shall be fully earned and
non-refundable, regardless of whether any Advance Notices are made or settled hereunder or any subsequent termination of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><U>Registration of the Ordinary Shares with the SEC</U>. There is an effective Registration Statement
pursuant to which the Investor is permitted to utilize the prospectus thereunder to resell all of the Ordinary Shares issuable pursuant
to such Advance Notice. The Current Report shall have been filed with the SEC, and the Company shall have filed with the SEC in a timely
manner all reports, notices and other documents required under the Exchange Act and applicable SEC regulations during the twelve-month
period immediately preceding the applicable Condition Satisfaction Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify"><U>Authority</U>. The Company shall have obtained all permits and qualifications required by any applicable
state for the offer and sale of all the Ordinary Shares issuable pursuant to such Advance Notice or shall have the availability of exemptions
therefrom. The sale and issuance of such Ordinary Shares shall be legally permitted by all laws and regulations to which the Company is
subject.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify"><U>No Material Outside Event</U>. No Material Outside Event shall have occurred and be continuing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(f)</TD><TD STYLE="text-align: justify"><U>Board</U>. (I) The board of directors of the Company has approved the transactions contemplated by
the Transaction Documents, (II) said approval has not been amended, rescinded or modified and remains in full force and effect as of the
date hereof, and (III) a true, correct and complete copy of such resolutions duly adopted by the board of directors of the Company shall
have been provided to the Investor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(g)</TD><TD STYLE="text-align: justify"><U>Performance by the Company</U>. The Company shall have performed, satisfied and complied in all respects
with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at
or prior the applicable Condition Satisfaction Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(h)</TD><TD STYLE="text-align: justify"><U>No Injunction</U>. No statute, rule, regulation, executive order, decree, ruling or injunction shall
have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits or
materially and adversely affects any of the transactions contemplated by the Transaction Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify"><U>No Suspension of Trading in or Delisting of Ordinary Shares</U>. (I) Trading in the Ordinary Shares
shall not have been suspended by the SEC, the Principal Market or FINRA, (II) the Company shall not have received any final or non-appealable
notice that the listing or quotation of the Ordinary Shares on the Principal Market shall be terminated on a date certain (unless, prior
to such date certain, the Ordinary Shares are listed or quoted on any subsequent Principal Market), nor shall there have been imposed
any suspension of, or restriction on, accepting additional deposits of the Ordinary Shares, electronic trading or book-entry services
by DTC with respect to the Ordinary Shares that is continuing, and (III) the Company shall not have received any notice from DTC to the
effect that a suspension of, or restriction on, accepting additional deposits of the Ordinary Shares, electronic trading or book-entry
services by DTC with respect to the Ordinary Shares is being imposed or is contemplated (unless, prior to such suspension or restrictions,
DTC shall have notified the Company in writing that DTC has determined not to impose any such suspension or restriction), and (IV) all
of the Ordinary Shares issuable pursuant to the applicable Advance Notice shall be eligible for deposit at the brokerage account provided
by the Investor for the delivery of such Ordinary Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(j)</TD><TD STYLE="text-align: justify"><U>Authorized</U>. All of the Ordinary Shares issuable pursuant to the applicable Advance Notice shall
have been duly authorized by all necessary corporate action of the Company. All Ordinary Shares relating to all prior Advance Notices
required to have been received by the Investor under this Agreement shall have been delivered to the Investor in accordance with this
Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(k)</TD><TD STYLE="text-align: justify"><U>Executed Advance Notice</U>. The representations contained in the applicable Advance Notice shall be
true and correct in all material respects as of the applicable Condition Satisfaction Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(l)</TD><TD STYLE="text-align: justify"><U>Consecutive Advance Notices</U>. Except with respect to the first Advance Notice, the Company shall
have delivered all Shares relating to all prior Advances.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(m)</TD><TD STYLE="text-align: justify"><U>Material Non-Public Information</U>. Neither the Company nor the Investor shall be in possession of
any material non-public information regarding the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT A<BR>
ADVANCE NOTICE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WEBULL CORPORATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><B>Dated: ______________</B></TD>
  <TD STYLE="text-align: right; width: 50%"><B>Advance Notice Number: ____</B></TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
undersigned, _______________________, hereby certifies, with respect to the sale of </FONT>Ordinary Shares <FONT STYLE="font-size: 10pt">of
WEBULL CORPORATION (the &ldquo;<U>Company</U>&rdquo;) issuable in connection with this Advance Notice, delivered pursuant to that certain
Standby Equity Purchase Agreement, dated as of July 1, 2025 (the &ldquo;<U>Agreement</U>&rdquo;), as follows (with capitalized terms used
herein without definition having the same meanings as given to them in the Agreement): </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;The
undersigned is the duly elected ______________ of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;There
are no fundamental changes to the information set forth in the Registration Statement which would require the Company to file a post-effective
amendment to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. &nbsp;The
Company has performed in all material respects all covenants and agreements to be performed by the Company contained in the Agreement
on or prior to the Advance Notice Date. All conditions to the delivery of this Advance Notice are satisfied as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;The
number of Advance Shares the Company is requesting is _____________________ and the Advance Share Estimate with respect to this Advance
Notice is _______________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;The
number of Ordinary Shares of the Company outstanding as of the date hereof is ___________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned has executed
this Advance Notice as of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 205.7pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WEBULL CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 169.7pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please deliver this Advance Notice by email to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Email: Trading@yorkvilleadvisors.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Attention: Trading Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telephone: 201-985-8300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM OF SETTLEMENT DOCUMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA EMAIL</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WEBULL CORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: &nbsp;[&#9679;]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Email: [&#9679;]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 10%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt; vertical-align: top; width: 68%"><FONT STYLE="font-size: 10pt">Below please find the settlement information with respect to the Advance Notice Date of:</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; width: 22%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">1.a.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Number of Ordinary Shares requested in the Advance Notice</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">1.b.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Volume Threshold (Number of Ordinary Shares in (1.a.) divided by 0.30</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">1.c.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Number of Ordinary Shares traded during Pricing Period</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">1.d.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Reduced Advance pursuant to <U>Section 2.01(c)(iv)</U> (if applicable)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Market Price</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Purchase Price (Market Price x 97.50%) per share</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Number of Advance Shares due to the Investor</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3pt"><FONT STYLE="font-size: 10pt">Total Purchase Price due to Company (row 3 x row 4)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>Please issue the number of Advance
Shares due to the Investor to the account of the Investor as follows:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>Investor&rsquo;s
DTC participant #</B></FONT><B>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ACCOUNT NAME</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ACCOUNT NUMBER</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ADDRESS</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CITY</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>COUNTRY</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Contact person</B>:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Number and/or email</B>:
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 3in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Sincerely,</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>YA II PN, LTD.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agreed and approved by </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>WEBULL CORPORATION</B></FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Title:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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